US Stock Market Move | Crypto-related stocks weaken; Strategy (MSTR.US) falls over 6%.

On Friday, cryptocurrency-related stocks weakened. As of press time, Strategy (MSTR.US) fell over 6%, Coinbase (COIN.US) plunged over 12%, and Circle (CRCL.US) dropped 8%. On the news front, Binance, the world's largest cryptocurrency exchange, suffered what appeared to be the largest cryptocurrency hack in history on Thursday, with stolen amounts estimated at between US$1.7 billion and US$5.7 billion, shaking the entire crypto market. In the cryptocurrency market, Bitcoin plunged over 4%, falling below US$80,000 to US$77,815; Ethereum also fell over 4% to US$2,246. According to media reports, the massive fund movement triggered heightened market alarm. Binance's founder confirmed in a post on social platform X that "it does look like a hack targeting Binance," while stressing that user funds were safe. Stablecoin issuers Tether and Circle immediately took emergency action, jointly freezing over US$1.5 billion in assets related to the incident to limit the spread of potential losses. Binance latest announced that, after verification, the total amount of frozen funds was approximately US$3 billion.