Crypto Fear & Greed Index sinks to 30 after Binance hack

The Crypto Fear & Greed Index fell to 30, entering "fear" territory, following a hack on Binance, the world's largest crypto exchange by volume. The incident underscores the fragility of crypto market sentiment, which has proven sensitive to security breaches at major venues. Binance, which handles a significant share of global spot trading, has seen investor confidence shaken as market participants reassess counterparty risk across centralized exchanges. The index's decline reflects broader concerns about exchange security practices and the potential for contagion across trading platforms. Market watchers will monitor whether sentiment stabilizes, any disclosures from Binance on the breach's scope and reimbursement plans, and whether outflows from centralized exchanges accelerate in the coming days.