Binance Hack Rattles Crypto as Intel Plunges and AI Spending Fears Hit Tech

A $6.3 billion hack of Binance, the world's largest cryptocurrency exchange, sent shockwaves through digital asset markets, deepening existing jitters over security and regulation. The breach, one of the largest in crypto history, underscores persistent vulnerabilities in centralized platforms even as the industry pushes for mainstream adoption. Bitcoin and other major tokens slipped as investors weighed the fallout. Meanwhile, a sharp decline in Intel shares dragged on the tech sector after the chipmaker issued a weak earnings outlook. The drop reflects broader anxiety over the sustainability of massive AI infrastructure spending, with investors questioning whether the returns will justify the costs. The tech-heavy Nasdaq-100 (QQQ) fell more than 2% as selling pressure spread across semiconductor and software names. These twin shocks highlight a fragile market mood: crypto faces renewed trust issues, while tech grapples with the gap between AI hype and financial reality. Traders are recalibrating risk as both narratives face stress tests. Expect volatility to persist as more details emerge from the Binance investigation and as upcoming earnings reports reveal whether AI investments are translating into profits.