Metaplanet CEO Simon Gerovich said the Bitcoin network continues to operate normally after a Binance hack involving about $6.3 billion in cryptocurrency outflows. In a post on X, he said Bitcoin has processed every block normally since its 2009 launch and is functioning as designed. Gerovich also said all of Metaplanet’s Bitcoin is held in cold wallets with regulated professional custodians. Binance froze about $3 billion in assets, pledged to fully compensate customers for losses and temporarily suspended deposits and withdrawals while tracing funds and reviewing security. Coinbase assisted by intercepting transfers to compromised wallets, sharing information and supporting security checks, while Coinbase CEO Brian Armstrong urged broader industry cooperation and said the sector could withstand the incident.