Crypto News

Wintermute warned that Bitcoin could fall further if it breaks below the $76,800 support level. The trading firm holds a short position worth $101 million on Hyperliquid, with $3.35 million in unrealized profit and cumulative PnL of $220 million, according to Onchain Lens. The position and warning point to downside risk, but do not guarantee that Bitcoin will break support.

Akash Network’s governance has approved a plan to move its infrastructure from Cosmos to Solana over 24 months, with about 97% of voting token holders in favor. The plan brings Akash Marketplace, AkashML and Akash Homenode to Solana. Earlier migration details specify a one-way, 1:1 conversion of AKT to an SPL token, with total supply and six decimal places unchanged. The migration portal is expected to open after audits and remain available for two years; the earlier proposal also described a 90-day transition for existing workloads before the old chain shuts down. For AKT traders, Solana access may broaden liquidity and market reach, but the irreversible conversion and execution timeline remain key risks. The latest report does not provide a portal launch date.

Tether holds about 150,000 Bitcoin (BTC) and serves more than 730 million users, CEO Paolo Ardoino said at the Plan ₿ Forum in Lugano. The company adds around 30 million wallets each quarter. The disclosure highlights Tether’s scale, but does not indicate a new Bitcoin purchase. Tether’s third-quarter report showed $122.8 billion in direct US Treasury holdings, or about $132.4 billion including repurchase agreements. It reported $7.95 billion in excess reserves and $1.5 billion in net operating profit. Ardoino also described Tether’s “Independence Stack”, an open-source infrastructure strategy covering energy, Bitcoin mining, peer-to-peer communications, self-custody wallets and local AI. Initiatives include solar-powered battery kiosks in Africa, alongside tools such as Holepunch, WDK and QVAC. The company says these technologies should remain usable even if Tether ceases to exist.

Binance and Mercado Bitcoin security incidents put exchange risk back in focus for crypto traders. K33 Research estimates Binance’s fines and hacking-related costs at about $10.7 billion, equal to roughly 56% of its estimated pre-tax profits from 2021 to 2025. Binance says it has covered about 95% of affected assets with its own funds, and roughly $3 billion in stolen crypto has been frozen. The amount Binance can ultimately recover remains unclear. Brazilian exchange Mercado Bitcoin reported that more than $46 million in crypto was stolen from its wallets. Tether and Circle froze about $6.2 million; the exchange said customers suffered no losses and deposits and withdrawals resumed after a brief suspension. The incident is still under investigation. Other market developments include a record $17.51 billion in Solana stablecoin value and more than $125 million in deposits on Aave V4 on Avalanche. Meanwhile, ETH fell 16.1% in October, its second-worst October since 2016. US midterm election trading and regulatory scrutiny of prediction markets add to the near-term macro and policy backdrop.

NEAR Protocol’s House of Stake has voted to reduce the network’s maximum annual token issuance rate from 2.5% to 1.6% over 24 months. The NEAR issuance reduction will proceed gradually each epoch, reaching the new rate in month 24. It still requires a security committee review and formal approval, followed by a roughly 90-day grace period and adoption through a validator protocol upgrade. NEAR plans to publish quarterly reports comparing actual issuance with the target. The lower issuance could reduce token inflation over time, though the change will be phased in and is not yet fully implemented.

The USDCNH exchange rate rose above 6.660 on 3 November, reaching 6.66088, according to Gate data. USDCNH was up 0.1% over the previous 24 hours. The report gave no further details on the cause of the move.

Crypto tokens may outlast market hype through two foundations: durable community belief or a credible share of real business cash flow, argues the article’s author, tzedonn. Meme-driven launches can generate intense short-term demand, but rapid turnover and automated pump-and-dump tactics make long-term token ownership difficult to sustain. The article says durable “belief assets” tend to develop recognisable leaders, survive severe crises, reward early supporters and build distinctive communities and slogans. It cites BTC, ETH, SOL and HYPE as examples, and points to ZEC’s recent price rise and privacy narrative as potential ingredients of a lasting following. The author also describes PRL as an early speculative bet, not an established example. For cash-flow tokens, the key questions are whether a business generates sustainable profits, whether revenue can be verified on-chain, and whether token holders have a credible way to capture value. The author highlights HYPE, LIT, PUMP and SKY as examples of projects that, in their view, meet strict standards. They contrast on-chain revenue and automatic buybacks or distributions with discretionary promises, opaque off-chain income and corporate structures that may direct profits away from token holders. The article claims HYPE and PUMP have each generated roughly $1 million–$2 million in daily revenue over the past year. The piece is an opinion-led framework, not a report of a new market event. For traders, its central takeaway is to assess token demand, verifiable revenue and value-capture mechanisms rather than relying solely on narratives. These factors do not guarantee returns and may already be reflected in token prices.

Anza, developer of Solana’s Agave validator client, urged mainnet operators to act on Linux vulnerability CVE-2026-98432. The flaw could let an unauthenticated remote attacker run code on an internet-reachable server. Solana validators using Ubuntu face added urgency because, as of Monday afternoon, Ubuntu had not released patched kernels for affected standard versions of Ubuntu 24.04 and 22.04. The Solana validator Linux kernel bug is especially relevant because validators need a public IPv4 address, and AWS says a kernel update and reboot are the only complete remediation. Interim network filters may reduce exposure but do not fully protect systems. AWS reported no known in-the-wild exploitation. Anthropic said an unreleased research model discovered the flaw and produced a proof-of-concept exploit that could gain root access. The alert raises operational and security concerns for Solana infrastructure, although the article reported no disruption to the network or confirmed attacks.

The State Teachers Retirement System of Ohio (STRS Ohio) increased its Strategy (NASDAQ: MSTR) stake by 83% to 110,011 shares, according to a 13F filing. The position is valued at about $14 million to $16.8 million. MSTR shares rose roughly 5% on November 2 after the disclosure surfaced. Strategy offers investors indirect Bitcoin exposure through its publicly traded stock. The company held 849,327 BTC in early November 2026 and recently bought another 811 BTC for $65.5 million, funded through share sales. Those sales can dilute existing shareholders, so investors weigh the additional Bitcoin exposure against the cost of issuing more stock. The pension fund’s increased Strategy stake signals greater institutional interest in Bitcoin-linked equities. However, the position is small relative to a large state pension, and the filing does not establish a direct Bitcoin purchase.

Fundstrat co-founder and Bitmine chairman Tom Lee says the AI stock sell-off may be nearing a bottom, but cautions that markets could fall further. He argues that demand for AI infrastructure remains strong while supply is constrained; spending limits may slow growth without ending the AI boom. Intel’s latest results underline that tension: data centre and AI revenue rose 78% year over year to $7.3 billion, but manufacturing constraints limited supply, and a weaker revenue forecast sent its shares down nearly 30% on Friday. Lee also said Bitcoin’s relatively limited reaction to the Binance incident may suggest some selling pressure has already been absorbed. However, Bitcoin fell about 4% to around $76,400, US spot Bitcoin ETFs saw $643.2 million in net outflows—their largest daily outflow in October—and more than $1.3 billion in leveraged positions were liquidated. Binance estimated the incident’s impact at about $6.3 billion, said it had frozen roughly $3 billion in affected assets, and pledged to cover losses with emergency reserves and company funds. The indicators point to significant short-term stress, and do not confirm that Bitcoin selling has ended.

Taurus said on October 29 that live Stellar smart-contract asset support is available through its Taurus-PROTECT custody and Taurus-CAPITAL issuance platforms. The expansion builds on the company’s existing Stellar integration and supports several Stellar token models, including structures designed for regulated assets. The update gives institutional clients additional tools to manage assets across their lifecycle, from issuance and custody to ongoing transactions. Stellar smart-contract support may help firms use existing approval and operational controls rather than introducing separate systems. However, the announcement does not identify new asset launches or demonstrate adoption by named institutions. Its longer-term significance will depend on real-world issuance, reliable servicing and reconciliation of token records with issuer rules.

South Korea’s KOSPI index extended its decline from 30 October, when it fell 5%, to open 2.46% lower on 3 November, according to Gate data. Semiconductor stocks remained under pressure: SK Hynix fell nearly 9% and Samsung Electronics more than 5% on 30 October, while both dropped over 4% on 3 November. The KOSPI losses point to weakness in South Korean equities, but the reports do not identify a cause or show a direct effect on cryptocurrency prices. Crypto traders may view the moves as a broader risk-sentiment signal, rather than a direct trading catalyst.

The Ohio Teachers Retirement System increased its Strategy stake by 83%, bringing its holdings to 110,011 shares worth about $14.4 million. The pension fund manages $110 billion in assets. Bitcoin Treasuries said US state funds are using companies with Bitcoin reserves to increase their exposure to Bitcoin. The move adds to institutional interest in Strategy as a publicly traded route to Bitcoin exposure, but the report does not indicate a direct Bitcoin purchase by the fund.

THORChain paused swaps on 10 networks after a refund bug left one of its vaults 10 ETH short. The flaw followed a one-block Ethereum reorganisation: THORChain recorded a deposit that was later reversed, then refunded funds it did not actually hold. The sender later returned the 10 ETH, closing the shortfall. The incident triggered THORChain’s solvency checks and an emergency halt. Chainalysis said the pause also delayed North Korean hackers’ laundering of funds stolen from Binance. As of Monday, swaps remained halted on ATOM, BCH, BSC, BTC, DOGE, ETH, LTC, SOL, TRON and ZEC; AVAX, Base and XRP were operating. THORChain warned that after a reorganisation on an external blockchain, an attacker could reuse a transaction nonce and receive funds from its vaults. Developers are working on a fix, but the network has not announced when halted chains will resume. The vulnerability and prolonged service disruption pose risks for THORChain users and traders, while the immediate effect on the wider crypto market appears limited.

Trajectory AI launched a self-service platform on 2 November 2026 that uses user edits and corrections to update AI models, potentially on a weekly basis. The San Francisco startup says its approach can automate continuous fine-tuning using production data, rather than relying on teams to curate data and retrain models manually. Founded by former Google DeepMind and Apple researchers, Trajectory AI has raised about $55 million to $65 million. Its funding includes a $15 million seed round at a reported $115 million post-money valuation and a $40 million Series A that valued the company at $300 million. Sequoia Capital, Nvidia and Bessemer Venture Partners are among its backers. The company previously tested its product with AI firms Clay, Decagon and Harvey. Its new self-service launch aims to broaden adoption beyond those beta partnerships. Key questions include whether user corrections are reliable and whether businesses can control model updates, particularly in regulated sectors. The news concerns AI infrastructure and has no direct cryptocurrency-market catalyst.

North Korea has denied responsibility for the reported $6.36 billion Binance hack, after the FBI attributed the theft to TraderTraitor, a hacking operation linked to Pyongyang. Kim Yo Jong called the US allegations “absurd rhetoric” and a political provocation. The FBI said the attackers converted much of the stolen crypto into Ethereum and could move funds through decentralised finance platforms and instant-swap services. Blockchain firm TRM Labs also attributed the attack to TraderTraitor with high confidence. US agencies are investigating and working to trace and freeze the assets. Binance has reportedly replenished about 95% of affected assets and is restoring withdrawals across multiple networks. The exchange has not publicly named the attackers or explained how its infrastructure was compromised. The competing claims keep the Binance hack and exchange security in focus, although the reported recovery may help limit immediate concerns about customer losses.

Airtm and BVNK announced an integration on October 29 to let users spend wallet funds at participating retailers. The service connects Airtm Connect with BVNK’s stablecoin payment infrastructure and will use the Stellar network. The goal is to make digital dollars more useful by linking wallet balances to merchant checkout, reducing the need for separate transfers or accounts. Airtm and BVNK have not indicated that all merchants or countries will be supported at launch. The rollout’s practical value will depend on fees, exchange rates, payment and settlement times, and how reliably it handles refunds and order issues. Wider adoption will depend on customers being able to complete repeat purchases smoothly.

GPRO rose 10.5% in one hour and gained 9.6% over 24 hours, according to MSX.com data cited by Odaily. The token was trading at 1.054 USDT at the time of reporting. No catalyst or trading-volume details were provided.

Kim Yo Jong has denied North Korea’s involvement in the $6.3 billion Binance hack, rejecting the FBI’s attribution to a North Korean-backed group and calling the allegations politically motivated. She also suggested, without evidence, that the US could be behind the theft. The FBI has not publicly responded to the latest statement.

Mercado Bitcoin, Brazil’s largest crypto exchange, suffered a hack on November 2, 2026, with about $49 million in cryptocurrency stolen across 17 blockchains. Chainalysis coordinated with the exchange, law enforcement and crypto firms to trace the stolen funds and help freeze nearly $10 million. The Mercado Bitcoin hack affected assets including BTC and ETH, as well as tokens on networks such as Tron and Polygon. Chainalysis said it helped freeze $4 million in stolen stablecoins by morning; Tether later froze more than $9 million in stolen funds. Investigators are continuing to track the remaining assets.

The Bank of Korea is surveying 18 banks and 13 securities firms about their exposure to crypto-related risks, with responses due by November 4. The Bank of Korea’s questionnaire covers crypto operations, budgets, investments, staffing and risk controls. It asks how firms could be affected if South Korea’s largest crypto exchange by market share were forced offline by a major hack, as well as by a prolonged Bitcoin and crypto market downturn or heavy losses at another financial institution. The survey comes as South Korean financial firms explore crypto, stablecoin and blockchain payment projects while digital asset rules remain unsettled. It highlights growing links between crypto markets and traditional finance, but does not name the exchange or announce new restrictions or immediate market action.

Hong Kong banks can now settle tokenized deposits with one another 24/7 using tokenized central bank money, the Hong Kong Monetary Authority (HKMA) said. The service is part of EnsembleTX, the live pilot under Project Ensemble, which has expanded to 12 participating banks and 20 industry pioneers. Participants include HSBC, Standard Chartered and Bank of China (Hong Kong); BlackRock and Ant International are among the pioneers. The upgrade means banks no longer need to wait for the operating hours of Hong Kong’s conventional real-time gross settlement system to complete the interbank leg of eligible transactions. The pilot has supported real-value activity involving corporate treasury management and tokenized money market funds. HKMA chief executive Eddie Yue said the project is moving towards commercialising tokenization applications. Officials also pointed to potential uses in cross-border payments and tokenized gold. The announcement concerns bank deposits and central bank money; it does not announce a new stablecoin or directly involve public crypto assets. The expansion signals growing institutional adoption of tokenized deposits and round-the-clock settlement infrastructure in Hong Kong.

Strive Chief Risk Officer Jeff Walton says the company’s Bitcoin-backed credit products, SATA and SATS, can offer income while shifting much of Bitcoin’s price risk to common shareholders. The perpetual preferred securities reportedly yield about 13% and 15%, respectively, and are supported by Strive’s Bitcoin reserves and liquid cash. The company raised nearly $700 million in an oversubscribed SATS offering, above its $500 million target. Strive held between 32,773 and 36,800 BTC in early-to-mid October 2026, including a recent purchase of 3,311 BTC. Walton says rated Bitcoin-backed credit could help attract institutional investors, many of which cannot buy unrated securities. However, the structure reallocates rather than removes risk: preferred holders receive income, while common equity bears greater exposure to Bitcoin’s volatility. Credit ratings and performance during a sharp Bitcoin sell-off remain key tests for the strategy.

Crypto wallet revenue fell 60% year over year to about $0.4 billion in the first half of 2026, according to 1kx’s Blockchain Revenue Report. Softer crypto prices and reduced trading activity cut income from in-app swaps and transaction fees. The report says some on-chain transaction volumes rose even as fee-based revenue declined, suggesting activity persisted but generated less income for wallet providers. The broader consumer and frontend category contracted 11%, from $5.6 billion in H1 2025 to $5.0 billion in H1 2026. Gambling and gaming bucked the trend, growing 8% to $3.3 billion and accounting for most of the category’s revenue. Across the sector, blockchain revenue for 2026 is projected at about $100 billion, down 28% from $140 billion in 2025. The report links the decline to weaker market conditions, including an approximately 30% drop in average Bitcoin prices. The wallet revenue slump points to the sensitivity of fee-based crypto businesses to trading volumes and market prices, rather than identifying specific providers as underperformers.

Bitwise CIO Matt Hougan says the median year-to-date return among the top 20 crypto assets is down 15%, despite the group’s average return being up 14%. The gap shows that gains are concentrated in a small number of tokens rather than broadly shared across large-cap crypto. Hougan singled out Hyperliquid (HYPE) and Zcash (ZEC) as major contributors to the positive average. He did not provide a full performance ranking or a formal Bitwise report. For traders, the figures suggest the average return may overstate market strength: the typical top 20 crypto asset has lost value, and gains could be vulnerable if standout performers reverse.

DeFi protocols earned more than $100,000 in fees linked to funds stolen in the Binance hack, according to on-chain investigator dethective. SunSwap led with $29,697, followed by THORChain at $28,184 and Relay at more than $23,000. THORChain and Relay saw daily revenue rise 2,229% and 1,954% above their typical October levels. A separate investigation traced about $242 million in stolen assets through Tron over two days. THORChain processed more than $48 million, while Chainflip and Symbiosis handled $32.1 million and $16 million, respectively. Tether froze more than $378 million in USDT connected to the theft. The FBI attributed the Binance hack to North Korea’s TraderTraitor group. Investigators caution that some wallet links are uncertain and that billions in stolen funds on other blockchains remain untouched.

Custodia Bank has filed a reply brief urging the US Supreme Court to review a Tenth Circuit ruling on Federal Reserve master accounts. The ruling allows regional Federal Reserve banks to deny master accounts to depository institutions that meet statutory requirements. The case could shape how much discretion the Fed has over access to its payment system. For Custodia Bank and other crypto-focused banks, the outcome may affect access to core banking infrastructure, but the filing itself does not change current access or directly affect cryptocurrency prices.

New Jersey has rescinded its 2023 cease-and-desist order against Coinbase staking and withdrawn a proposed $5 million penalty, reversing an earlier notice that the state intended to lift the restrictions. The Oct. 30 decision did not rule on the merits and leaves regulators free to bring a new case. Coinbase says New Jersey users should regain access to staking soon; previously, eligible customers could earn rewards on existing balances but could not add or restake assets. The move is a positive regulatory development for Coinbase staking, but restrictions and disputes remain in other states. California, Maryland and Wisconsin still limit new staking, while Washington allows the service but is seeking a $4 million fine. Coinbase estimates users missed more than $89 million in California staking rewards and over $15 million in New Jersey rewards since 2023. The change comes ahead of the Nov. 3 US midterm elections, amid ongoing debate over crypto regulation. It improves access to crypto rewards in New Jersey but does not resolve Coinbase’s broader regulatory uncertainty.

Strive bought 6,182 Bitcoin for about $511.4 million between October 17 and 23, then added another 124 BTC for roughly $10 million between October 24 and 30. Its total Bitcoin holdings rose to 43,124 BTC, making it the fourth-largest public-company Bitcoin treasury, according to Bitcoin Treasuries. The latest purchase was funded mostly with existing cash; Strive also used its SATS preferred-stock at-the-market programme for the first time. The shares carry a 15% annual dividend, and the company says it has reserved 18 months of payments. Strive’s average Bitcoin purchase cost is $87,785 per coin, above the market price cited in the article. The continued Bitcoin buying adds to corporate treasury demand, but the latest purchase is small relative to the broader market. The preferred-stock financing also brings ongoing costs and potential dilution into focus.