The Largest Hack Ever Just Happened. Strategy Kept Buying.

Hackers stole $6.3 billion from Binance last week. Here's what Strategy did next.

Author

Bitcoin Treasuries
November 02, 2026

Welcome to the Bitcoin Balance Sheet. Each Monday, we recap last week's key developments and share our publication's leading stories.

In the same week hackers stole about $6.3 billion from Binance, Strategy added 811 bitcoin to reach 849,327 BTC and spent $208 million, three times as much, buying back STRC. Coinbase hit 18,000 BTC. In Abu Dhabi, Standard Asset Company launched an anticipated $1.5 billion plan that pairs a bitcoin reserve, managed by Coinbase, with UAE real estate. Here's what mattered.

Apyx is the first dividend‑backed stablecoin protocol that turns preferred equity from Digital Asset Treasury (DAT) companies into programmable, high‑yield digital dollars. Apyx delivers sustainable double‑digit yield with institutional transparency, daily NAV visibility, and verifiable on‑chain reserves.

Apyx · Programmable dollars backed by credit and treasuries

Apyx turns offchain credit and treasury income into onchain programmable dollars: apxUSD for spending, apyUSD for double-digit yield, and aptUSD for native Treasury yield you earn just by holding.

Strategy Bought 811 Bitcoin. STRC Got Three Times More.

Strategy bought 811 bitcoin from October 26 through November 1, for $65.5 million at an average of $80,846 including fees. Those purchases spanned the same week hackers stole about $6.3 billion from Binance, the largest crypto theft on record. It was the company's first purchase since it added 267 BTC in mid-October. Holdings rose to 849,327 BTC, about 4% of bitcoin's supply, at an average cost of $75,451 per coin.

STRC got the bigger check again. Strategy bought back 2,092,035 STRC shares for $208.2 million, paid with USD Cash, leaving $748.6 million in its digital credit buyback program. The week was funded by 1,178,552 MSTR shares sold at the market for $164.0 million: $65.5 million went to bitcoin and $98.5 million to USD Cash. USD Cash and the USD Reserve together fell to about $4.92 billion from $5.07 billion. Since October 12, STRC buybacks have taken $606.2 million. Bitcoin has taken $87.6 million.

Get tickets to Bitcoin Treasuries Conference 2027 at the lowest possible price. Early bird passes are now on sale

Coinbase Hits 18,000 BTC. Its Pace Is Slowing.

Coinbase added 643 BTC in the third quarter and ended September with 17,954 BTC held for investment, according to its 10-Q filed October 29. The coins carried a fair value of $1.50 billion against a cost basis of $1.26 billion. Coinbase has since hit 18,000 BTC. It does not report buys between quarterly filings, so the date and price of the last 46 coins are not known.

The pace is slowing. Coinbase added 1,103 BTC in Q1, 819 in Q2 and 643 in Q3, against 2,382 to 2,772 BTC in each of the first three quarters of 2025. The stack is still up 161% since the end of 2024. Coinbase ranks No. 8 among public companies.

Standard Asset Company Pairs Bitcoin With UAE Hotels

Standard Asset Company opened its headquarters in Abu Dhabi Global Market to run an anticipated $1.5 billion strategy that pairs a bitcoin reserve with UAE real estate. Coinbase Asset Management will be the exclusive manager of its bitcoin. The private company plans to buy bitcoin in phases and run a managed yield strategy, with retained proceeds growing the reserve and funding hotel and branded-residence deals.

It has not said how much bitcoin it holds or how the $1.5 billion splits between bitcoin and property. Its advisers and shareholders include Sheikh Mohammed Bin Maktoum Bin Juma Al Maktoum of the Dubai royal family, former White House chief of staff Mick Mulvaney and Coinbase Institutional co-CEO Brett Tejpaul. The plan has a manager. It doesn't have a bitcoin number yet.

A look at the leaderboard

Strategy was the week's biggest buyer, adding 811 BTC to reach 849,327. Strive added 124 BTC to reach 43,124 and is now 877 BTC short of passing Metaplanet for No. 2. Super League doubled its stack to 15 BTC. The latest additions came from:

• Strategy +811 BTC → 849,327 BTC

• Strive +124 BTC → 43,124 BTC

• Coinbase +46 BTC → 18,000 BTC, after adding 643 BTC in Q3

• Super League +8 BTC → 15 BTC

Tesla and SpaceX have not changed their holdings and still hold 11,509 BTC and 18,712 BTC.

No major sellers stood out this week. Looking ahead, watch whether Strive passes Metaplanet, and whether Standard Asset Company discloses how much bitcoin it holds.

Special thanks to our partners:

  • AnchorWatch. AnchorWatch makes Bitcoin ownership safer and easier by combining advanced custody expertise with industry-grade insurance. As a Lloyd’s of London Coverholder, it writes specialized policies that address digital-asset risks, giving clients trusted coverage and peace of mind. Learn more: AnchorWatch

  • Apyx. is the first dividend‑backed stablecoin protocol that turns preferred equity from Digital Asset Treasury (DAT) companies into programmable, high‑yield digital dollars. Apyx delivers sustainable double‑digit yield with institutional transparency, daily NAV visibility, and verifiable on‑chain reserves. Learn more: Apyx

  • Arch Lending. Get instant, secure loans backed by your Bitcoin, Ethereum, or Solana—no need to sell your assets. Arch Lending offers fast approvals and trusted custody for both individuals and institutions. Learn more: Arch Lending

  • BitGo. BitGo is the leading institutional-grade digital asset custody, trading, and finance platform, trusted by exchanges, hedge funds, and corporations worldwide to secure and manage their crypto holdings. As the pioneer of multi-signature wallet technology, BitGo provides unmatched security, regulatory compliance, and deep liquidity solutions for serious digital asset operations. Learn more: BitGo

  • Hemi. develops open-source solutions designed to help treasury teams securely manage, deploy, and optimize their BTC holdings, with benefits of self-custody and Bitcoin native deployment. Learn more: Hemi

  • Psalion. Psalion is a Bitcoin and digital-asset yield manager that offers institutional‑style investment strategies to professional investors, family offices, corporates, and private clients via separately managed accounts and yield funds. Learn more: Psalion

  • XCE. An executive recruitment group that combines a profitable recruitment business with a Bitcoin treasury strategy. The company turns over a decade of executive recruitment experience and four years of Bitcoin accumulation into a public Bitcoin‑powered growth engine, using a proven operating business to drive Bitcoin treasury accumulation. Learn more: XCE