Bitwise said its treasury operations do not have exposure to Binance and that the collateral used in its managed strategies has not been affected, according to a post from Jonathan Man, the firm’s head of DeFi strategy. Man added that DeFi appears to have been relatively insulated so far, though capital is moving into safer assets and liquidity is tightening across many major lending markets. He said Bitwise will keep monitoring the situation. The comments came on the same day Binance’s hot wallet was hit in a hack, linking the firm’s risk update to a broader market security incident without stating any direct impact on Bitwise-managed assets.
Bitwise’s treasury has no exposure to Binance, and the collateral used in the firm’s managed strategies has not been affected, Jonathan Man, Bitwise’s head of DeFi strategy, said in a post, according to ChainCatcher.
Man also said DeFi appears to have been relatively unaffected so far. At the same time, capital is moving into safer assets, and liquidity is tight across many major lending markets. He said Bitwise will continue to monitor the situation.
On the same day, Binance’s hot wallet was hit by a hack.
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