Crypto News

Tether reported $1.5 billion in third-quarter operating profit and $4.5 billion for the first nine months of 2026, with income mainly from US Treasuries and reverse repurchase agreements. At September 30, Tether reported $191.45 billion in assets and $183.50 billion in liabilities, leaving $7.95 billion in excess reserves—up from $4.1 billion at the end of June. USDT issuance remained broadly steady at about $184 billion. Treasury bills and related cash-equivalent holdings totalled $139.58 billion, or about 72.9% of reserves; the company also reported $19.08 billion in gold and $8.37 billion in Bitcoin. Direct and indirect exposure to US Treasuries was $132.4 billion. BDO prepared the report on the figures and reserve assets. The larger Tether reserve buffer may support confidence in USDT’s backing and redemption capacity, but steady issuance and reserve data do not in themselves point to a broad crypto-market rally.

U.S. spot Bitcoin ETFs recorded $440.8 million in net inflows across four trading sessions from Oct. 26 to Oct. 29, extending the streak to four days. BlackRock’s IBIT attracted $410.6 million, about 93% of the total, while Fidelity’s FBTC added $10.53 million on Oct. 29. That day’s overall inflow was modest at about $17.2 million: outflows from Grayscale’s Bitcoin Mini Trust and WisdomTree’s BTCW offset purchases elsewhere. The daily figure was also reported as $17.07 million, reflecting rounding. The four-day rebound recovered about 57% of the $773.5 million withdrawn over the previous two losing sessions. Bitcoin ETFs held $104.27 billion in net assets, equal to 6.58% of Bitcoin’s market capitalisation, with cumulative net inflows of $57.62 billion. These Bitcoin ETF figures predate Friday’s reaction to the Binance security breach. On Oct. 30, Bitcoin fell below $77,000 before recovering towards $78,000. The inflows point to demand for Bitcoin ETFs before the sell-off, but do not show what caused the buying or how flows changed after the breach.

Bitcoin options trader Crash claims his account grew from $250,000 to about $3.4 million during a week of market declines. A screenshot showed account assets of $3,387,187.14, but did not provide a trade-by-trade breakdown or establish how much of the balance came from closed positions. The figures imply a gain of about 1,255% against the stated starting capital, if there were no deposits or withdrawals. Crash separately claimed a BTC put returned 150x and that another options contract rose from $130 to $25,000 in six hours. The post does not establish whether those were the same trade. These are unverified claims, and the contract details needed to assess the returns were not provided. Crash advised traders to close positions after large favorable moves, especially in less liquid options. Wide bid-ask spreads and limited order depth can make it difficult to exit at displayed prices. The claims highlight the potential for outsized returns—and losses—in leveraged crypto options, but do not indicate a broader change in Bitcoin market conditions.

The Binance hack sparked a sharp crypto sell-off, with more than $1.54 billion in market liquidations reported on Friday. Long positions made up about $1.29 billion. Bitcoin briefly dropped to around $76,320–$76,350 before rebounding above $78,000; it remained lower over the 24-hour period and was down about 5% from the start of the month. BTC liquidations approached $500 million, while Ethereum long liquidations exceeded $300 million. Binance said about $6.3 billion in crypto was stolen and that a compromised laptop belonging to a DevOps engineer may have enabled unauthorized withdrawals. Partners have frozen roughly $3 billion, and Binance says it will use its SAFU fund and corporate reserves to cover remaining customer losses. Deposits and withdrawals remain suspended as the exchange works with law enforcement and blockchain investigators. On-chain data cited in the reports indicates the attacker still controls substantial ETH and other tokens, while 18,270 BTC was moved to newly created addresses. Analyst ZachXBT linked the attack to Tradertraitor, a group associated with North Korea. The breach has also revived comparisons with Mt. Gox, Bitfinex, Coincheck and FTX, after which Bitcoin eventually reached new highs. Those historical recoveries do not guarantee a repeat: for traders, the immediate concerns are forced liquidations, uncertainty over the stolen funds and confidence in exchange security.

Binance is working with the FBI, the U.S. Secret Service and other authorities to investigate a reported $6.3 billion to $6.4 billion hack. Binance says industry partners have located or frozen about $3 billion in assets; Circle and Tether separately reported freezing more than $800 million in USDC and $1.5 billion in USDT linked to the incident. Binance has set aside more than $6.34 billion to cover losses and says customers will be reimbursed. The exchange has suspended withdrawals while reviewing its security, with a return targeted for Sunday. Blockchain intelligence firms attributed the attack to TraderTraitor, a North Korean hacking group also linked to the Bybit breach. Binance holds about $134 billion in reserves, but reportedly saw roughly $6 billion in outflows over 24 hours. The Binance hack keeps exchange security, liquidity and market confidence in focus; asset freezes and the stated recovery plan may help limit customer losses.

Two Texas brothers, Raymond Christian Garcia and Isiah Angelo Garcia, were sentenced to 15 and 15½ years in prison for a September 2025 home invasion in Grant, Minnesota. They held a family at gunpoint for more than nine hours and forced the father to transfer over $8 million in cryptocurrency, including by taking him to retrieve hardware wallets. Both pleaded guilty and were later arrested near Houston. The case highlights the risks of crypto wrench attacks—violent coercion used to seize digital assets. Chainalysis recorded 46 violent incidents targeting crypto holders in the first half of 2026, with more than $30 million stolen. The sentences underline that US courts treat crypto wrench attacks as serious violent crimes.

Crypto-linked stocks fell sharply on Friday after Binance disclosed a $6.3 billion security breach, described in the report as the largest cryptocurrency theft on record. Coinbase shares dropped more than 13%, while Circle fell over 9% and Strategy declined about 8%. Bitcoin miner and data-centre operator IREN lost more than 10%, and Figure Technology Solutions fell about 9%. The selloff followed weak revenue figures from Coinbase and Strategy, reported on Thursday. Coinbase posted $719 million in net income, including about $715 million in gains on crypto investments, but net revenue fell 34% year over year to $1.16 billion. Strategy reported $19.53 billion in net income, largely reflecting a $20.91 billion gain in the value of its Bitcoin holdings; revenue fell 3% to $125.4 million. The Binance hack added a fresh security concern to existing pressure on crypto-related equities. The sharp share-price moves signal heightened investor risk aversion, though the article does not provide evidence of a comparable decline in cryptocurrency prices.

Grayscale says Hyperliquid generated $38 million in revenue last month, including income from third-party channels such as Builder Codes and HIP-3 markets. The figure adds to more than $1.4 billion in cumulative protocol revenue. Hyperliquid has also carried out more than $1.26 billion in HYPE buybacks. The reported revenue may support confidence in Hyperliquid’s business model, though it does not guarantee token price gains. Prediction-market odds for HYPE reaching $100 by year-end were reported at 74%, down from 81% over the previous 24 hours, indicating some cooling in trader expectations.

Tokenized assets, payments and other real-economy applications generated 22% of crypto industry revenue in Q3 2026, edging past blockchain infrastructure at 21%, according to 1kx. It is the first time these broader-economy applications have out-earned infrastructure in the firm’s tracking. The report projects total industry revenue of about $100 billion for 2026, down 28% from roughly $140 billion in 2025. Transaction fees paid to chains now represent less than 3% of industry revenue. Real-world activity included $3.4 billion in digital-asset payment-card spending during Q3 and more than $13 billion in tokenized-equity trading volume on Robinhood Chain. Public companies accounted for 16% of blockchain revenue in 2026, compared with 7% in 2022. The findings suggest tokenized assets and payments are becoming more important sources of crypto revenue, while chain fees alone provide a less complete measure of activity.

The Nasdaq-100 has fallen more than 5.8% in October, putting it on course to lose over $2 trillion in market value as investors question whether AI revenues will justify soaring infrastructure costs. Amazon’s shares initially fell more than 6% after it reported trailing 12-month free cash flow of negative $42.4 billion, down from positive $14.8 billion a year earlier, and outlined a $220 billion AI investment programme. Amazon later recovered much of its decline. Intel dropped more than 25% amid concerns about weak PC demand, manufacturing constraints and high capital needs. Alphabet also came under pressure after reporting about $51.4 billion in quarterly capital expenditure, while weaker search advertising and negative free cash flow added to investor concerns. Big Tech’s growing reliance on borrowing—including Microsoft’s planned $25 billion bond offering—has raised questions about financing costs and investment returns. JPMorgan estimates AI capital expenditure could reach $900 billion in 2026 and $5.5 trillion cumulatively by 2030. Demand for AI infrastructure remains strong: Amazon Web Services reported 39% annual revenue growth. The Nasdaq-100 selloff reflects investor concern that the scale and cost of AI spending may outpace companies’ ability to generate cash returns.

A blockchain investigation says the Binance hack began with the theft of 233.46 million XRP, worth about $296 million. The funds were taken from five Binance wallets in coordinated transfers between 20:05 and 20:09 UTC, after attackers had prepared for at least 36 hours, according to TRM Labs. The Binance hack then spread to other networks. About 20:20 UTC, a Binance Bitcoin hot wallet transferred 18,270 BTC, valued at roughly $1.47 billion. On Ethereum, attackers used pre-signed authorizations and EIP-7702 account-delegation functionality to sweep 167,464 ETH, USDT and other tokens. Investigators identified about $6.36 billion in transfers across ten blockchains by 00:30 UTC on October 30. TRM said the XRP remained unmoved when it conducted its investigation. TRM attributed the operation with high confidence to TraderTraitor, a North Korea-linked hacking group, but Binance has not independently confirmed who was responsible. Binance said it froze about $3 billion in affected assets and would reimburse customers. The incident heightened exchange-security concerns and contributed to a sharp fall in BNB, according to the article.

Polygon has added Solana support to its Open Money Stack, a payments platform that connects bank accounts, payment methods and stablecoin wallets. Businesses can accept bank transfers, cards, cash or crypto, convert funds into stablecoins, and route payments across Solana, TRON and EVM networks. Recipients can cash out to local currency through bank accounts or cards. Companies can also use selected services alongside their own wallets and compliance providers. Polygon says Solana processes more than $2 trillion in stablecoin transfers each quarter. This is transaction volume, not stablecoin supply, payment revenue or necessarily real-world purchases. Polygon says its Coinme acquisition provides regulated US money-transmission coverage in 48 states. The Solana integration follows Polygon’s earlier TRON support and targets fintech firms, marketplaces, payroll providers and remittance businesses. The expansion adds payment infrastructure for Solana and Polygon, but neither customer adoption nor transaction volume or fee revenue from the integration has been disclosed. It is therefore not evidence on its own of increased demand for SOL or POL.

The EURO STOXX 50 fell below 6,100 points in both reports. The earlier update put the index at 6,098.95, down 1.0% from its previous close; the later report showed it at 6,099.17, down 1.7% over 24 hours. Neither report identified a cause for the decline. The EURO STOXX 50 is a gauge of European equities, so its movement may offer context on broader risk sentiment. However, the reports provide no direct signal or confirmed impact on cryptocurrency prices.

Binance is cooperating with the FBI and the US Secret Service in an investigation into a reported $6.4 billion theft, according to Odaily. Circle says it has frozen more than $800 million in USDC linked to the case and is assisting law enforcement. The article’s headline also says Tether froze more than 1.567 billion USDT, but the report does not provide details supporting that claim. The Binance theft investigation could affect confidence in exchange security and raise concerns about the movement and recovery of funds.

The article says BNB has faced selling pressure after a reported $6.3 billion Binance exploit, while still holding around the key $700 support level. It attributes the alleged attack to North Korea’s TraderTraitor group based on claims cited from TRM Labs; Binance has not confirmed the attribution. Binance says a compromised DevOps engineer’s laptop may have enabled unauthorized withdrawals, says there is no evidence private keys were exposed, and has pledged to cover user losses. The article also says about $3 billion was frozen on-chain, citing coordination with several crypto firms. Its headline-grabbing BNB price outlook is an explicitly extreme, speculative scenario—not a base-case forecast. It imagines BNB Chain becoming a major settlement network for institutional real-world asset tokenization, alongside a broader crypto bull market. Under those assumptions, the article floats a price range of $2,800–$4,500 and a stretch target above $7,000 by January 1, 2027. Traders should treat these figures cautiously: the security incident, its scale, and the forecast are claims in the article, and the proposed adoption catalyst is hypothetical. Near-term attention is likely to remain on Binance’s response, withdrawals, and whether BNB can hold support.

Strategy reported $19.53 billion in third-quarter 2026 net income, compared with $2.79 billion a year earlier. A $20.91 billion fair-value gain on its Bitcoin holdings drove the result. The gain was non-cash: excluding it, the company’s operating business lost about $2.6 million, and Strategy recorded a $1.89 billion operating loss for the first nine months of 2026. Revenue fell 3% year over year to $125.4 million. Strategy added a net 1,666 BTC in the quarter after buying 7,218 BTC and selling 5,552 BTC. It said the sales helped fund $239.9 million in preferred dividends and $108.6 million in STRC repurchases. The company also raised $5.41 billion by issuing MSTR shares. CEO Phong Le said digital credit had become its primary means of acquiring Bitcoin. The later update said Strategy held 848,517 BTC as of October 25, valued at $68.9 billion, with an average purchase price of about $75,446 per coin. It had bought $14.33 billion worth of Bitcoin year to date and increased its holdings by 26% in 2026, although its BTC Yield was negative 3.7%. The company appeared to pause Bitcoin purchases while focusing on STRC repurchases. Executive Chairman Michael Saylor said he believes a new Bitcoin bull market is beginning, citing renewed institutional demand and Bitcoin’s growing dominance. CFO Andrew Kang is due to leave on November 5 for personal reasons and remain as an adviser through year-end. Phong Le will serve as principal financial officer through 2026, while Reza Virasteh is expected to become co-principal financial officer from January 1 and take on the CFO role in 2027. The results underline that Strategy’s reported earnings are highly sensitive to Bitcoin’s valuation, rather than cash flow from its core business.

The Binance hack reportedly drained about $6.3 billion from hot wallets across 10 blockchains, making it one of the largest crypto thefts on record. Binance initially cited a possible compromise involving an engineer’s laptop; a later update from co-CEO Richard Teng said investigators had identified multiple breach points. Binance said it found no evidence that wallet private keys were leaked. Tether and Circle froze affected stablecoins, with Binance putting the verified frozen amount at about $3 billion. The exchange said it had set aside more than $6.34 billion to cover losses, including $5 billion in the same tokens that were stolen. Onchain investigators have linked the attack to North Korea-backed hackers, but the investigation is ongoing. Attackers reportedly used Ethereum’s EIP-7702 delegation mechanism to gain execution authority over a hot wallet. Experts said the feature did not cause the Binance hack but may have helped bypass safeguards. Binance paused withdrawals, while keeping deposits open, and said it planned to restore withdrawals and publish a proof-of-reserves report. The incident drove sharp volatility: BNB fell 8.7% in an hour to $680 before rebounding, Bitcoin briefly dropped below $77,000, and Ether also declined. About $1.55 billion in leveraged positions were liquidated, mostly longs. Traders are watching withdrawal services, exchange outflows and BNB’s ability to hold support.

Bitcoin’s quantum threat is emerging as an economic concern before quantum computers can directly compromise the network, Stacks founder Muneeb Ali says. He argues Bitcoin needs a credible quantum-resistant roadmap, with meaningful progress by 2028 and a possible transition target of 2030. The lengthy upgrade process and time needed for holders to move funds could weigh on institutional confidence, despite US spot Bitcoin ETFs holding more than $104 billion in net assets. Elsewhere, Ripple received final US approval to establish a federally supervised national trust bank. It will manage reserves backing RLUSD and provide custody services, while RLUSD issuance remains with a New York-regulated subsidiary. In Europe, USDC captured 56% of euro-denominated stablecoin trading, up from 10% in January 2024, as MiCA rules prompted restrictions on USDt trading for some customers. USDC’s euro order books are about 40% deeper, although USDT remains much larger globally. VanEck launched an actively managed multi-asset ETF with a target 2% Bitcoin allocation, adjustable between 1% and 5%, through a spot Bitcoin exchange-traded product. Together, the developments highlight Bitcoin security concerns alongside growing institutional, regulatory and investment-product adoption.

The Nasdaq 100 fell 3.6%, wiping more than $1.3 trillion from its market value in its biggest daily decline since June 5. Disappointing earnings from Amazon and Intel fueled concerns about technology stocks and AI spending. Bitcoin also fell below $77,000 amid the broader market sell-off, while crypto markets showed widespread losses. Prediction-market pricing put the odds of Bitcoin trading above $82,000 by November 3 at 5%. Traders will be watching upcoming technology earnings and wider market signals for signs of whether risk-off pressure will persist.

Crypto liquidations surged as market pressure intensified. In an earlier report on October 15, CoinGlass recorded $476 million in liquidations in one hour, including $457 million in long positions. Binance accounted for about 62% of that total; ETH liquidations were about $199 million and BTC liquidations $110 million. BTC was near $81,000 and ETH near $2,362, both down over 24 hours. The full-day total was $922 million, affecting 174,600 traders. By October 30, 2026, 24-hour crypto liquidations had risen to about $1.67 billion across 254,045 traders. Longs made up roughly 86% of the total, with about $560 million in BTC liquidations and $360 million in ETH liquidations. Binance represented around half of liquidation volume, while Hyperliquid accounted for an estimated 19% to 22%. The latest report also coincided with a reported Binance security breach that the exchange said affected about $6.3 billion in assets and led it to suspend deposits and withdrawals. The breach may have added to market stress, but liquidation figures alone do not establish its precise effect. The sharp increase in crypto liquidations underscores the risks of leverage and restricted exchange access during volatile markets.

zkLink has launched a bounty programme in response to a security incident affecting zkLink Nova. Security researchers and white-hat contributors who provide information that materially helps recover funds may receive up to 20% of the amount recovered. The team will determine eligibility and rewards based on the value of the information provided. The exploiter may also keep 20% as a white-hat bounty by returning all funds, and zkLink says it will take no further legal action over funds returned. The incident’s scale and any confirmed losses were not specified.

Gate founder and CEO Lin Han has called for a crypto security alliance to coordinate security standards, intrusion detection and emergency response across the industry. The appeal follows a Binance security incident that the report says involved losses of about $6.3 billion. Gate also proposed vaults using split keys shared among users, Gate and a recovery partner. Under the plan, at least two parties would need to be compromised before funds could be moved. A 48-hour withdrawal delay would give users time to freeze withdrawals if an attack is suspected. Gate said it has flagged the related hacker addresses and would freeze illicit funds transferred to its platform. The proposals could strengthen crypto security, though withdrawal delays may affect liquidity and user access to funds.

Ocean is facing a Bitcoin transaction-censorship allegation after developer Kruw said miner Powre excluded his consolidation transaction from block 973,817. Kruw’s comparison showed 1,698 transactions in the mined block versus 3,580 in an expected template, with transaction fees 7.68% lower. The figure refers to fees in the comparison, not a proven cut to every pool participant’s payout. Ocean representative Chris said the pool’s DATUM setup allows miners to choose transactions for their own block templates. He acknowledged that leaving fees uncollected may be economically questionable, but argued that Ocean should not control miner choices through payout decisions. Kruw said the pool could reject work that falls below an acceptable fee level. Chris countered that miners may have different mempool data and relay policies, so a fee shortfall against a hypothetical maximum does not by itself prove censorship. The Bitcoin mining dispute highlights a broader debate over miner autonomy, pool rules and fee revenue. It has no clear direct market-price catalyst, but could draw attention to Bitcoin’s transaction-selection practices and mining-pool governance.

A joint proposal from Tachyon Group and Shielded Labs would end automatic future funding for the Zcash Community Grants (ZCG) program while allowing it to continue awarding grants from its remaining treasury. The plan would redirect Zcash’s 8% block subsidy allocation to a new development and legal defense lockbox, where funds would remain inaccessible until a later community decision sets rules for spending. ZCG would also be required to send 50,000 ZEC to an unspendable address within 30 days of community acceptance. The donation would not require a network upgrade. Redirecting the funding stream and incorporating the donated ZEC into the Network Sustainability Mechanism would require a consensus upgrade after NU7. Under the proposed mechanism, the coins could return through future block subsidies, so the donation would not permanently remove them from Zcash’s monetary schedule. The proposal estimates that ZCG would retain 41,452.98 ZEC and about $8.8 million in dollar holdings after the donation, with outstanding grant liabilities of roughly $2.4 million. Its projected remaining treasury value of $60.3 million assumes a ZEC price of $1,300 and is not a current market valuation. Zcash co-founder Zooko Wilcox presented the draft as a compromise that preserves grantmaking while changing how future development funds are managed. The draft has no activation date.

The reported $6.4 billion Binance hack prompted a public exchange between Elon Musk and Binance co-founder Changpeng Zhao (CZ). After Musk responded to discussion of Binance’s potential losses with a grimacing emoji, CZ asked him to stop trolling and pointed to Binance’s SpaceX shares, valued by CZ at more than $1 billion. Binance co-CEO Yi He said the company’s annual revenue could cover the losses without selling those shares. CZ later clarified that he had not proposed selling them. Binance says it has reserved more than $6.34 billion to cover the incident, including $5 billion in the same tokens that were stolen. It is sourcing the remaining amount through market and over-the-counter purchases. Tether and Circle froze assets linked to the attackers, while blockchain analytics firms TRM Labs and Chainalysis attributed the attack to North Korea-linked group TraderTraitor. The Binance hack highlights how recovery options differ across crypto assets: centralized stablecoin issuers can freeze tokens, while Ethereum cannot be frozen by a central issuer. For traders, the scale of the reported theft and questions about exchange security may weigh on sentiment, although Binance’s stated reserves and the frozen funds could help limit concerns about its ability to cover losses.

Binance CEO Richard Teng said the exchange will cover all losses from this week’s hack with company funds, and that customer assets were not affected. Binance has reserved more than $6.34 billion, including $5 billion already held in the stolen tokens, such as USDC, USDT, BTC, ETH and BNB. The exchange is buying the remaining assets through market and over-the-counter channels. Teng said the attacker exploited an EIP-7702 delegation to bypass Binance’s normal approval controls and used a self-destruct mechanism to erase tools and traces. Binance paused withdrawals while it reviews security and aims to restore them by Sunday. It plans to publish a full proof-of-reserves report by Monday. The attacker continued moving funds on Tron, while Aave said it had reopened its V3 and V4 markets after a precautionary freeze. Binance’s response may reassure users, but the hack raises questions about hot-wallet security and could keep attention on exchange risk and crypto-market volatility.

The Crypto Fear & Greed Index fell 21 points to 29 on October 30, entering fear territory as Bitcoin dropped below $77,000. Bitcoin briefly touched about $76,400, down from a close near $77,839 the previous day. The article attributes the sell-off to a reported $6.3 billion Binance breach spanning October 29–30. BNB fell about 8.5%, while roughly $1.57 billion in crypto futures positions were liquidated in 24 hours, including about $522 million in Bitcoin and $361 million in Ether liquidations. Despite the sharp shift in sentiment, Bitcoin dominance remained near 59% and total crypto market value stood at about $2.6 trillion. Analyst Benjamin Cowen identified the 200-day moving average, near $73,000, as a potential Bitcoin support level. Traders are watching whether that level holds, while the liquidation figures underline the risks of leveraged trading.

Anthropic may struggle to secure an investment-grade credit rating after its planned IPO, despite targeting a valuation of $1.5 trillion to $2 trillion. A Financial Times writer says the company’s large future computing commitments could weigh on its credit profile. Anthropic’s IPO filing reportedly lists at least $417 billion to $430 billion in future computing obligations. Including contingent commitments and additional capacity, the total could reach about $750 billion. Some contracts with Broadcom, Google, Amazon and Microsoft are off balance sheet, but credit agencies may still count them as liabilities. The Claude maker reported $16.3 billion in revenue and an $80.7 billion net loss for the first half of 2026. KBRA assigned Anthropic a BB+ rating in June, one notch below investment grade. An IPO could strengthen its cash position, but the scale of its commitments and losses may continue to limit its rating. Investors will watch the IPO proceeds, rating-agency decisions and whether losses narrow as revenue grows.

Federal Reserve official Musalem said monetary policy and overall financial conditions remain accommodative, while inflation is still too high. He argued that inflation is unlikely to ease without Fed action and that early Fed rate hikes could reduce the risk of a larger shock to the broader economy. His comments signal concern about persistent price pressures, but do not announce a policy decision. Traders may watch upcoming inflation data and Fed communications for clues on the timing and pace of rate hikes.