Are bitcoin reorgs bad? (plus on-chain cashflow)

Binance hacked, bitcoin reorgs

The news to know is that Binance was hacked for $40M. Based on what we know, that was largely a non-event--customers are not impacted because Binance will cover losses with their own safety fund--and the market agreed. The price of BTC was virtually unaffected (and actually went up the next day).

(Aside: the biggest investin…