Coinbase CEO Brian Armstrong pledges support after suspected Binance hack

Brian Armstrong said his team is assisting following reports of a security breach at Binance, which led to Tether freezing $971 million in USDT on 29 October.

By Akshat Mishra, YourKhabri DeskOct 30, 2026, 01:36 AM UTC1 min readBinanceCoinbaseSecurityTether

Photo: Steve Jurvetson from Los Altos, USA, CC BY 2.0, via Wikimedia Commons

Key takeaways

1Coinbase CEO Brian Armstrong said his team is assisting following a suspected Binance hack.
2Tether froze $971 million in USDT linked to the suspicious activity on 29 October.
3Binance has not yet confirmed whether a security breach occurred.

Coinbase CEO Brian Armstrong said on 30 October that his team is assisting following a suspected Binance hack that led to Tether freezing $971 million. Watcher Guru reported the comments. They have not been confirmed by other outlets.

Armstrong said the industry has survived difficult periods in the past and will recover from this event. He said that crypto has been through many tough times and has always come out stronger on the other side. This incident would not be any different.

Onchain data first flagged suspicious activity on Binance on 29 October, according to earlier reporting by YourKhabri. Tether froze the USDT linked to the movements on the same day. Binance has not yet confirmed that a security breach occurred.

Market participants are now waiting for a formal statement from Binance regarding the nature of the suspicious activity. Elon Musk also commented on the situation on 29 October, stating that "everyday is zeroday" following the reports of the incident.

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Reported and edited by the YourKhabri desk under our editorial policy. Nothing here is investment advice.