Bitcoin continued its growth despite a week of generally negative news for the crypto space, adding another 8.71% growth this week to its 10.35% growth of last week. Other winners on the week include Ethereum (up 2%), Chainlink (39%), ABBC Coin (46.75%), and Arcblock (116%).

However, this week’s markets were not all clear skies of green. The majority of coins in the top 100 were down around 8% to 15%. Binance Coin is down 17.61% in lieu of the ~7000 BTC hack on the exchange this week, and Cosmos down 24.88%.

Binance Hacked for $40M, but User Fund are SAFU: On Tuesday, hackers jacked over 7,000 bitcoin (about $40M) from Binance, using a variety of attack strategies to conduct a large scale security breach. Binance released a statement that it will cover the $40M loss using corporate funds in its Secure Asset Fund For Users (SAFU), an internal insurance fund the firm made in 2018. Oh, and Justin Sun “offered” to personally cover the loss if CZ approves.

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Source: https://thebitcoinnews.com/this-week-in-cryptocurrency-may-10th-2019/