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Bitcoin has won. Global consensus is that $BTC is digital capital. The four-year cycle is dead. Price is now driven by capital flows. Bank and digital credit will determine Bitcoin’s growth trajectory. The biggest risk is bad ideas driving iatrogenic protocol changes.
Binance has committed its own balance sheet to making customers whole. I expect it to deliver. Our industry will learn from this incident, strengthen security, and emerge stronger and more resilient.
Binance has begun recovering affected assets for users and continues to work with law enforcement, issuers, blockchain intelligence firms and industry partners to trace, freeze and recover additional funds.
The company has already publicly committed to cover losses through company funds in the prior announcement.
Binance has already reserved over $6.34B of company funds to cover this incident. $5B of these funds are already held in the exact token assets that were impacted. We are completing the purchase of the remaining amount by buying token assets through market channels and OTC channels. We are doing this to match the format of the remaining token assets and address any asset shortfalls. This step can take longer because some tokens may have low liquidity and OTC settlement also takes time. We will share more progress as soon as we can.
These figures do not include frozen or protected assets, which remain subject to ongoing recovery and verification. Currently, $3bn has been frozen, with thanks to our industry partners. We are working with partners and law enforcement to recover the frozen assets.We will continue to use company resources to cover confirmed shortfall and will provide further verified updates as recovery efforts progress. Ultimately, all user funds will be verified publicly through our Proof of Reserves.
We will weather this storm. Thank you for the support.
Our Q3 2026 $MSTR Earnings Call covered record financial results, Digital Capital, Digital Equity, Digital Credit, tokenization, and our strategy for the next bull market.
Andrew Kang | Q3 Financial Results
00:01:32 - Q3 highlights: 848,517 BTC, record earnings, and treasury growth
00:06:19 - Capital raising, USD Assets, and balance sheet strength
00:09:31 - Daily dividends approved: $STRC begins November 1
Phong Le | Digital Equity and Digital Credit
00:14:02 - $MSTR as Amplified Bitcoin: Q3 outperformance and Bitcoin Per Share
00:18:44 - Fortress balance sheet, mNAV, and positioning for the next bull market
00:24:45 - Digital Credit growth and $STRC's return to par
00:27:37 - Return of capital and tax-efficient Digital Credit
00:29:22 - Capital framework: USD Assets, Bitcoin monetization, and repurchases
00:33:09 - BTC Hurdle ARR, BTC Breakeven ARR, BTC Floor ARR, and Digital Credit risk modeling
00:41:22 - $STRC performance, institutional adoption, and daily dividends
Michael Saylor | Bitcoin and Digital Capital
00:47:14 - Bitcoin's next bull market, dominance, and the 2028 halving
00:50:05 - Regulatory guidance, banking adoption, and Bitcoin supply dynamics
00:56:01 - Tokenized $MSTR and $STRC: 24/7 global capital markets
01:02:05 - AI disruption and the value of scarce Digital Capital
01:07:19 - Quantum computing, Bitcoin security, and long-term potential
01:15:45 - Bitcoin treasury companies and the expanding Digital Credit ecosystem
01:20:12 - Digital Capital, Digital Credit, Digital Equity, and Strategy's central bank vision
Live Q&A
01:28:03 - Andrew Harte, BTIG: How does a stronger balance sheet change Strategy's next bull market playbook?
01:32:20 - Khing Oei (@khingoei): Equity ATM issuance, mNAV, capital allocation, and scaling institutional demand for $STRC?
01:36:14 - Alex Thorn (@intangiblecoins), Galaxy: Plans for $STRF, $STRD, $STRK, and $STRE?
01:40:41 - Pete Christiansen, Citi: Does Bitcoin financialization introduce leverage and counterparty risk?
01:48:25 - Scott Melker (@scottmelker): Tokenized $MSTR and preferreds, U.S. access, and Strategy's plans for tokenization?
Michael Saylor retweeted
Join our Q3 2026 Earnings Call now: xitter.gq/i/broadcasts/1dKrPrXyY…
Michael Saylor retweeted
JUST IN: Strategy $MSTR posts a $21 billion gain on its #Bitcoin holdings for Q3.
The company returns to profitability for the first time in four quarters. 🔥
LIVE BREAKDOWN: xitter.gq/i/broadcasts/1dGYlaZLP…
Strategy announces Q3 2026 results:
- $21 billion operating income, our largest quarter ever
- $21 billion capital raised YTD
- Returned $STRC to health
- 848,517 $BTC held, up 26% YTD strategy.com/press/strategy-…
Michael Saylor retweeted
Consortium member company, Coinbase, co-hosted a Post-Quantum Bitcoin Workshop at Stanford University at the end of August. The one-day event included Bitcoin developers, cryptographers, researchers, institutional custodians, and hardware-wallet experts.
coinbase.com/blog/moving-bit…
Michael Saylor retweeted
True North Ep. 84: Bitcoin Is The Moat
Featuring @hillery_dan and @MasonFoard.
Timestamps:
00:00 True North Loading...
03:54 Daily Dividends Come To Strategy $MSTR
11:36 Strive's New $SATS Offering
22:48 Digital Credit As High Powered Money
27:51 AI Disruption And The $BTC Moat
36:26 Digital Credit's Growth Roadmap
45:05 Cash Reserve And $STRC Buybacks
53:14 Managing Amplification
01:01:15 Final Thoughts
Michael Saylor retweeted
Congratulations @Strategy! 99% is a mandate. But why is daily payment such an important feature to create “perfected money”?
Listen to @saylor share his view on the “holy grail” opportunity for bitcoin at @paraficapital Investor Day a few weeks before the vote date👇
Michael Saylor retweeted
This is a powerful upgrade to $STRC and digital credit. Thank you.
Saying there’s no reason to own Bitcoin because AI can hack a crypto app is like saying there’s no reason to speak English because AI can hack a messaging app.
