Crypto News

Hut 8 reported third-quarter 2026 revenue of $71.1 million, down from $83.5 million a year earlier and below analyst expectations of $76 million to $77 million. Net income climbed to $189.5 million from $50.6 million, largely because of a $413.8 million gain on digital assets—not stronger operating performance. Hut 8’s compute business, primarily Bitcoin mining, generated $68.4 million; power and digital infrastructure added $2.7 million. For the first nine months, revenue rose to $217 million from $146.6 million a year earlier. Hut 8 signed a second 352 MW lease at its Beacon Point AI data centre campus in Texas, completing the site’s commercialization. The company puts the aggregate base-term contract value of its AI data centre portfolio at about $26.6 billion. It also sold about 954 Bitcoin during the quarter and used Bitcoin sale proceeds to fund roughly $250 million in share repurchases. Hut 8 raised its buyback authorization to $1 billion and closed a $1.07 billion secured revolving credit facility. For crypto traders, Hut 8’s results show weaker mining-related revenue alongside significant AI infrastructure commitments. The profit surge reflects digital-asset accounting gains rather than a comparable improvement in operations, while the Bitcoin sales were a source of funding for corporate buybacks.

Riot Platforms sold about 20,264 BTC in the first nine months of 2026, raising roughly $1.5 billion mainly to fund data centre construction. The Bitcoin miner held 2,418 BTC, worth about $202 million, as of 30 September. In the third quarter, Riot reported revenue of $181 million, up 1% year on year, and net income of $4.03 million, down from $104 million a year earlier. Bitcoin mining generated $116 million in revenue, while data centre and engineering businesses brought in $18.4 million and $47 million respectively. Engineering revenue rose about 146% year on year. Riot mined 1,637 BTC during the quarter, with its mining cost per bitcoin falling to $39,265. The company also fully repaid and terminated a $200 million Coinbase credit facility, releasing all BTC pledged as collateral.

The UK FTSE 100 rose from 10,652.18, up 0.7% from the previous close, to 10,801.96 in the later report, a 1.0% gain over 24 hours. The FTSE 100’s continued advance signals strength in UK equities, but neither report explains the reasons for the move. The data provides no clear indication of a direct effect on cryptocurrency prices.

On-chain trading terminals are approaching their fifth historical drawdown of about 90%, according to analyst Adam. Past drawdowns from peak to bottom lasted an average of roughly 45 days; the longest lasted 61 days, in March 2025. The current decline has lasted 58 days. Adam said trading volume could soon recover if the on-chain market is not entering a prolonged downturn. The historical pattern may interest traders watching on-chain trading terminals, but it does not guarantee that a rebound is imminent.

A comparison of ETH perpetual markets on Hyperliquid, GMX and OKX shows why dashboard figures can mislead traders. Mark, oracle, index and execution prices serve different purposes, so displayed prices may not match the price a trader can actually get. Funding rates also depend on each venue’s formula and settlement rules, while GMX additionally charges borrowing costs. In 169 hourly GMX observations, the funding-balance imbalance and long funding factor had opposite signs 123 times, highlighting that open-interest figures alone do not reveal funding direction. Open interest is not a measure of market depth: a Hyperliquid snapshot showed a $10,000 buy near the mid-price, but a $10 million sell exceeded visible bids. GMX liquidity figures likewise reflect pool constraints, not a trader’s liquidation buffer. For ETH perpetual traders, execution costs, funding, borrowing and liquidation risk must be assessed using venue-specific rules and current executable liquidity—not dashboard headline numbers.

Dogecoin’s community and cultural visibility can draw attention, but social buzz alone does not predict DOGE’s price. Tesla accepts DOGE for eligible Tesla Shop merchandise; this is a documented, limited use case, not confirmation that customers can buy Tesla vehicles with the token or that DOGE and Tesla shares will move together. The article advises traders to verify claims with primary sources, compare news timing with DOGE’s price and trading volume, and assess performance against Bitcoin and broader market conditions. Attention spikes are signals to investigate, not automatic buy or sell triggers. DOGE traders should set invalidation levels and account for slippage, leverage, funding rates and liquidation risk. The article presents sentiment analysis as a decision-making filter, not a standalone trading strategy.

Bitcoin (BTC) slipped 0.56% to $77,488 on Monday, even as US stocks rallied, leaving the market caught between support near $76,550 and resistance at $80,846. The lack of follow-through suggests BTC is facing crypto-specific demand concerns ahead of the US midterm elections. Strategy bought 811 BTC for $65.5 million, but spent $208.2 million buying back its preferred stock, STRC. The company now holds 849,327 BTC and $4.9 billion in cash. Its recent spending shift raises questions about whether Strategy, a major source of corporate Bitcoin demand, is prioritizing balance-sheet management over BTC purchases. Binance net outflows exceeded $7 billion after a major hack, while the exchange delayed its full reserve proof. Most departing funds reportedly moved to private wallets rather than other exchanges. The attacker’s stolen Bitcoin had not moved, although stolen Solana tokens were being swapped for BTC. These developments add uncertainty, but do not yet indicate that the attacker is selling Bitcoin. Ethereum rose 0.34% to $2,273.27. Bitmine, a major corporate ETH buyer, has reached 99% of its accumulation target, potentially reducing a source of demand. Traders are watching BTC’s $76,550 support, Binance’s reserve proof and upcoming US jobs data. Overall, the near-term outlook is cautious, while the article’s longer-term Bitcoin case rests on its fixed supply and broad demand.

North Korean hackers are responsible for nearly 89% of reported crypto hacking losses in 2026, according to Chainalysis data cited in the article. Average losses attributed to suspected North Korean attacks have risen to about $185 million per incident, up from $50.65 million in 2021. Analyst Darkfost estimates that funds stolen by the Lazarus Group total $11.87 billion. The article describes a state-organised operation that combines specialist training, overseas infiltration and dedicated teams for reconnaissance, attacks and laundering. North Korean hackers increasingly use fake identities and job applications to gain access to crypto companies. Binance said it blocked 57 suspected attacks this year; an attack described in the article reportedly began with a fraudulent recruitment approach targeting an engineer. AI is also being added to the attackers’ workflow. Microsoft says three of the eight North Korean groups it tracks use AI extensively, including to create tailored phishing material and false identities. The article warns that AI could reduce the time and resources needed for attacks, while access to high-quality exploit data, computing power and advanced models may widen the gap between attackers and defenders. For crypto traders, the report highlights persistent cybersecurity and operational risks across exchanges and DeFi projects. It does not describe a market-wide exploit, but any confirmed breach could trigger volatility, withdrawals and renewed scrutiny of platform security.

Democratic control of both chambers could delay the CLARITY Act and prolong uncertainty over US crypto regulation. Earlier, TD Cowen analyst Jaret Seiberg warned that a Democratic takeover could stall the bill for up to two years. The CLARITY Act passed the House 294–134 in July 2025, but a Senate procedural vote failed in September. A later revised draft reportedly included 126 substantive changes, yet a September 2026 vote also failed, 49–50. A Democratic-led Congress may prioritize investor protection, transparency and ethics rules, and could reopen negotiations. Senate procedural hurdles and the president’s veto power remain obstacles; the election does not automatically change existing laws or agency authority. A lame-duck session had been seen as a possible opportunity for passage before the new Congress convened. Bitcoin traded near $77,500 on election day after briefly falling to $76,300. In the later account, it hit a reported six-week low before recovering to about $78,070. ETF outflows, security concerns and broader risk-asset weakness also affected sentiment, so the price moves cannot be attributed to regulation alone. For traders, delayed CLARITY Act progress could prolong uncertainty and weigh on investment plans, while a durable bipartisan framework could improve long-term regulatory clarity.

Circle Q3 earnings showed revenue and reserve income rising 17% year on year to $865 million, net profit increasing 5% to $226 million, and adjusted EBITDA climbing 85% to $317 million. But a $182 million ARC token presale accounted for more than the total year-on-year revenue increase, making headline growth a poor measure of recurring performance. Circle Q3 earnings also highlighted pressure on its core USDC reserve business: reserve income fell 8% to $658 million as the average yield declined to 3.5%. Average USDC circulation rose 8% year on year to $73.3 billion but declined from the previous quarter; circulation was about $69.8 billion on 2 November, around 5.5% below quarter-end. Despite this, USDC on-chain transaction volume increased 49% to $13.9 trillion. Circle is seeking to diversify through payments and settlement services. Circle Payments Network reached $41.3 billion in annualised transaction volume, while Arc’s September mainnet launch and partnerships could create additional fee revenue. Circle also agreed to acquire payments firm Tazapay, with completion expected in 2027 subject to regulatory approval. Binance committed $100 million to Circle and plans to expand USDC promotion. However, other revenue declined year on year excluding the ARC presale, and Circle kept its full-year guidance unchanged. For crypto traders, the results point to stronger stablecoin activity but limited USDC balance growth and ongoing pressure from lower reserve yields. The durability of Circle’s growth depends on recurring payment revenue and renewed USDC circulation, not one-off token-sale income.

A US appeals court has rejected Kalshi, Coinbase and the Commodity Futures Trading Commission’s request to pause state enforcement while their appeal proceeds. The Second Circuit panel said the parties had not adequately shown that an injunction was necessary, but has not yet published its reasoning. The decision allows New York and Connecticut to enforce their gambling laws against the prediction market products at issue. Federal district courts in both states had previously denied similar injunction requests, finding that the Commodity Exchange Act does not override state gambling laws. Lawsuits against Kalshi remain active, and New York is seeking at least $36 billion in penalties. The ruling is a setback for Kalshi prediction markets and leaves the boundary between federal derivatives oversight and state gambling regulation unresolved. It does not establish a nationwide ruling, but may increase legal uncertainty for prediction market operators and platforms such as Coinbase.

Canton Coin (CC) rose 4% on Wednesday to $0.098 after staff at the US Securities and Exchange Commission (SEC) said they view it as a “digital commodity.” CC was still down about 4.2% over the previous week. The SEC Division of Corporation Finance issued a no-action letter covering CC distributed to participants operating Canton Network infrastructure and applications. Subject to the letter’s conditions, staff said they would not recommend enforcement action over the distributions without securities registration. Staff cited the token’s role in network operations, its value being driven by network use and supply and demand, and the absence of a central controlling party. The letter is a staff position, not a binding SEC ruling. Canton Network is designed to help financial institutions tokenize assets and settle transactions across platforms. The SEC view is a positive regulatory signal for Canton Coin, but the non-binding letter and CC’s recent weekly decline leave legal and market uncertainty in place.

The UK Financial Conduct Authority (FCA) has finalized rules for sterling-backed stablecoins, setting requirements for issuers and platforms operating in the country. The framework requires a 1:1 reserve of segregated assets, limited to UK central bank deposits, short-term UK Treasury bills and qualifying cash equivalents. Issuers may not lend reserve assets or use algorithmic stabilization, and must obtain monthly independent attestations. The rules also prohibit passing reserve interest directly to retail token holders and provide for a 5% reserve buffer. The FCA’s stablecoin rules extend to trading venues and brokers: platforms may list only tokens that meet its disclosure standards, while non-compliant foreign stablecoins could face marketing restrictions or removal. Firms must apply for formal authorization; according to the article, complete applications submitted by the end of February 2027 qualify for temporary operating status while reviewed. Existing anti-money-laundering registration alone is not sufficient. The requirements could support confidence in sterling stablecoins and on-chain payments, but may raise compliance costs and limit market access for smaller issuers. The FCA is expected to consult further on DeFi and operational resilience.

Zcash (ZEC) rose about 12.4% in 24 hours to around $1,278 as traders positioned ahead of Network Upgrade 7 (NU7), expected near November 5 at block 3,543,405. The upgrade will shorten target block intervals from 75 to 25 seconds and temporarily reserve 60% of transaction fees for future mining rewards. It will also disable the legacy Sprout pool. NU7 is not expected to raise daily issuance, change Zcash’s 21 million supply cap or permanently burn fees. The investment-flow picture has changed. Zcash-linked products had previously recorded two weeks of inflows—$17.72 million in the latest week after $41.09 million—following three weeks of outflows. More recent reports, however, showed outflows of $3.58 million and $3.63 million over two sessions, suggesting renewed selling pressure. Futures positioning also strengthened: open interest rose to about 2.17 million ZEC on November 4 from 1.96 million on Sunday. An earlier update put open interest at $2.54 billion, up from $2.3 billion. Elevated positioning can amplify volatility and liquidations if prices reverse. ZEC faces near-term resistance at $1,300–$1,320; a sustained break could bring $1,370–$1,400 into view. An earlier technical assessment identified resistance near $1,385, followed by $1,493 and $1,644, with support around $1,240–$1,250. The latest assessment places support at $1,200–$1,210, then $1,150 and $1,100. NU7 may improve network usability, but neither the upgrade nor the rally guarantees sustained ZEC demand. A separate, non-final proposal would redirect the existing 8% block-reward allocation for Community Grants to a development and legal-defence fund.

Analyst Ali Martinez says several altcoins may be approaching a short-term rebound after recent market volatility. Ethereum (ETH), Solana (SOL) and Cardano (ADA) each showed TD Sequential buy signals on three-day charts. Martinez identified potential upside levels of $2,500 and $2,700 for ETH, $105 and $120 for SOL if $90 support holds, and $0.2268 and $0.2677 for ADA. Martinez also cited buy signals for Sui (SUI), Aave (AAVE) and Chainlink (LINK), with possible targets of $1.20, $176 and $14, respectively. Michael van de Poppe said altcoins could outperform Bitcoin as midterm-election uncertainty fades, and highlighted SUI’s bullish divergence. These indicators point to a possible altcoin rally, but they are technical-analysis signals, not guarantees; traders will be watching support levels, buying pressure and broader market volatility.

Meta Platforms plans to raise up to €9bn through its first euro bond sale, according to a report published on 4 November. The proposed Meta euro bond issue would give the company access to European debt investors. The brief report does not specify the bond terms or how the proceeds will be used. The financing has no direct connection to cryptocurrency markets, but traders may monitor large technology companies’ borrowing and AI investment plans for broader signals about risk appetite and funding conditions.

Bitcoin briefly fell to about $75,700 after the US midterm election results, then recovered above $78,300. The results renewed attention on the CLARITY Act, a proposed bill to define federal oversight of crypto trading and digital assets. The bill stalled in a Senate procedural vote in September, but seven Democratic senators later showed interest in restarting negotiations. No new legislative action is reported, so the regulatory outlook remains uncertain. The article also promotes UE Crypto cloud-mining plans and advertises fixed daily returns. Those claims are promotional, not evidence of guaranteed or low-risk income; traders should assess platform and contract risks independently.

Binance co-founder and co-CEO Yi He says the exchange is accepting criticism of its security and access controls after a hot-wallet incident. An initial report said about $6.34 billion in digital assets was affected, with roughly $2.85 billion frozen or intercepted and about 98% of affected tokens replenished. Binance says it will cover the shortfall. Yi said Binance is reviewing department permissions, security environments and devices, and resetting AI tools. The exchange is rebuilding security boundaries around zero-trust and least-privilege principles, with an independent security audit report to follow. She also invited AI security specialists to join the company. The response comes amid concerns that attackers may have exploited trusted internal tools and excessive DevOps access to move across teams. Traders will be watching for the audit findings and evidence that Binance’s security changes reduce operational risk.

Bitcoin rose about 1% to roughly $78,724 on November 2 as oil prices and the US dollar weakened, offering a modest boost to recovery hopes. Brent crude fell around 3% to $110 a barrel after diplomatic developments eased immediate concerns about Middle Eastern supply disruptions. Cheaper oil could reduce inflation pressure and, if that trend persists, give the Federal Reserve more room to lower interest rates. Such a shift could support liquidity and demand for risk assets, including Bitcoin. But energy prices are only one influence on inflation, and a brief decline does not guarantee a change in monetary policy. OPEC+ maintained its December production targets on November 1, leaving supply uncertainty in place. US inflation data will be a key next catalyst: September CPI rose 0.6% month on month, while annual inflation reached 3.7%; gasoline prices climbed 9.1%. The October CPI report is scheduled for November 10. For Bitcoin traders, sustained lower oil prices and cooling inflation could improve the short-term outlook, while renewed supply disruptions or persistent price pressures could revive rate concerns and volatility. The article also points to Bitcoin’s 21 million coin supply cap and expanding institutional infrastructure as longer-term adoption themes, though these do not remove its sensitivity to liquidity, sentiment and regulation.

The article describes five methods allegedly used by North Korean-linked hackers to target cryptocurrency companies: posing as job applicants, luring employees into malicious job interviews, poisoning open-source code, compromising third-party or company infrastructure, and using AI to make scams more convincing. It reports that a Binance engineer was infected after downloading a malicious coding assignment, allowing attackers to steal credentials and access an internal wallet-signing service. The article claims the incident led to a $6.3 billion theft in 20 minutes; that figure and the reported attack details are attributed to the article and have not been independently verified here. It also cites Binance’s reported prevention of 57 suspected North Korea-linked threats in 2026. A separate example is the 2025 Bybit theft of $1.4 billion, which the article links to compromised Safe infrastructure. For crypto traders, the incidents highlight exchange, wallet, and software-supply-chain risks that can trigger security concerns, withdrawals, and short-term volatility.

The Ethereum Economic Zone (EEZ) has launched Rollup X, a public testnet demonstrating transactions that can use Ethereum mainnet liquidity and return assets to a rollup in one atomic transaction. The EEZ aims to reduce fragmentation between Ethereum and its rollups without requiring changes to Ethereum itself. Its design lets participating networks call contracts across chains in a single transaction, which reverts entirely if any part fails. Gnosis says Gnosis Chain will become the EEZ’s first general-purpose zone in spring 2027. Its contracts, balances, addresses, chain ID and xDAI gas token are expected to carry over unchanged. The transition will end Gnosis Chain’s status as an independent layer 1 and its roughly 200,000-validator set will not continue in the new design. Rollup X demos included a CoW Swap trade filled using mainnet liquidity, Safe ownership changes synchronized across chains, and verification of a post-quantum signature. The latter used about 495,000 mainnet gas, around 91% less than the estimated 5.5 million gas for direct mainnet verification. The testnet is not intended to hold significant value, and its core protocol is under independent security audit. The EEZ could improve Ethereum liquidity access and cross-chain composability, but the planned Gnosis transition is still months away.

Tokenization can make asset ownership and transfers easier to track, but it does not automatically show whether an asset is already pledged to a lender. Double-pledging occurs when the same asset secures multiple obligations without lenders knowing about competing claims. As tokenized collateral moves faster, lenders need current records of pledges, releases, priority rights and whether reuse is allowed. The IMF has highlighted the potential for tokenized lending and smart contracts to automate collateral processes, including rehypothecation. DTCC is testing tokenized collateral through its Collateral AppChain, where assets can be pledged and reused when agreements permit. A shared ledger could give institutions a common, verifiable record of tokenized collateral and its encumbrances across systems. It would not capture undisclosed off-chain agreements, which would still depend on legal and financial enforcement. The article argues that tokenized finance needs programmable encumbrance as well as programmable ownership.

Binance co-founder Yi He said the exchange accepts criticism over its security and access controls and considers protecting user funds its primary responsibility. She said Binance would take full responsibility for any shortfall in user funds. Binance disclosed details of the security incident to build trust and share lessons on social engineering attacks and risks involving AI access boundaries. The exchange has reworked departmental access permissions and security controls, updated devices, reset AI tools, and adopted zero-trust and least-privilege principles. Binance plans to publish a security audit report and is inviting AI security specialists and technical experts to help review and improve its safeguards.

Gate will launch 10 new stock perpetual contracts in its stock-contracts section at 14:00 on 5 November (UTC+8). The listings include Occidental Petroleum (OXY), Cheniere Energy (LNG), XP (XP) and Wuxi Biologics (WUXIBIO), plus six Taiwan-listed companies: Delta Electronics (TWDELTA), ASE Technology (TWASX), United Microelectronics (TWUMC), Nanya Technology (NANYA), Winbond (WINBOND) and Yageo (YAGEO). The USDT-settled stock perpetual contracts will support long and short positions with leverage of 1x to 20x. Trading bots and copy-trading features are expected to become available within an hour of launch. Gate says it will then offer 511 stock perpetual contracts. The expansion adds exposure to energy, biotech, Taiwan semiconductor and electronics shares; it does not directly change the fundamentals of the cryptocurrency market.

BitGo has launched Global Markets, a division combining institutional crypto liquidity, trading, financing, derivatives and settlement services. Former NYDIG executive Pete Janney will lead the unit. BitGo Global Markets will offer spot and block OTC trading, crypto-backed financing, options, swaps, structured products, asset management strategies, private funds and research. Go Network will handle clearing and settlement. BitGo Prime, which has operated since 2020, will be folded into the new division. The launch follows BitGo’s August 27 acquisition of NYDIG’s institutional and trading business, which brought about 30 employees to BitGo. BTGO shares rose 3.4% in pre-market trading on Wednesday.

The article argues that political gridlock after the US midterm elections could benefit markets by limiting major policy changes, and suggests Bitcoin may also gain from greater certainty. It presents several technical signals as potential signs of a Bitcoin rebound: a possible W-shaped pattern, a double bottom and a higher low after the price fell from a reported $87,000 high. The article identifies $81,000 as a key resistance level and says a move above it could weaken the recent bearish trend. On the weekly chart, it describes Bitcoin as having retested its 50-week simple moving average, a level it says has acted as support in previous bull markets. These are technical interpretations, not confirmed signals, and the article’s claims about election control and price levels should be treated in their original context. Bitcoin’s direction would still depend on whether resistance is reclaimed and support holds.

NEAR holders approved a second inflation reduction in about a year, lowering the network’s maximum annual inflation rate from 2.5% to 1.6%. The change was finalized on Nov. 2, 2026, but will phase in over roughly two years and still requires a Security Council review, a 90-day grace period and a validator upgrade. Once implemented, it is expected to reduce new issuance by about 11.8 million NEAR tokens a year. The supply cut may support NEAR over the long term, though earlier reductions did not lift its price and lower staking rewards could encourage some holders to sell. NEAR Intents reported record October revenue of $2.4 million on $3.9 billion in 30-day volume. In the near term, NEAR and SUI charts remain weak. NEAR was near $3.93 after a roughly 16% weekly decline and remains below its 50-day moving average near $4.27. Its first key resistance is around $4.54; support is near $2.73. SUI traded around $0.90, below both its 50-day and 200-day averages. It is close to support at $0.84, with the next level near $0.71. Both tokens show weak momentum, with sellers still leading. For swing traders, a daily close above first resistance would provide a stronger recovery signal; a support break could deepen losses.

Bybit CEO Ben Zhou said AI, asset tokenization and connected financial infrastructure could bring traditional finance and crypto markets closer together. Speaking at Hong Kong FinTech Week 2026, he said integrated services may improve efficiency and expand access to markets, payments and savings. Zhou stressed that security, risk management and regulatory compliance must develop alongside access. He also noted that AI systems taking financial actions will need stronger permissions and monitoring, while tokenized assets require clear investor rights, reliable custody and sufficient liquidity. Bybit’s participation was a discussion of industry trends, not an announcement of a new product or market launch.

Bitcoin recovered to about $78,354 after briefly dropping to around $75,600 amid uncertainty over the US midterm elections. The rebound followed a six-week low, but political uncertainty and questions over the impact of election results on President Donald Trump’s crypto agenda remain part of the market backdrop. Demand signals are mixed. US spot Bitcoin ETFs recorded about $1.16 billion in net outflows over three sessions, including $115.6 million on November 3. BlackRock’s IBIT accounted for $95 million of that day’s withdrawals, down from $405.3 million a day earlier. Meanwhile, Paradigm reported about $660 million in Bitcoin options block trades on election day, including roughly $420 million in call purchases. Some options activity may reflect hedging, so it does not confirm a return of spot demand. For traders, holding $78,000 could put the $80,000 psychological level in view, with resistance near the 30-day moving average at $81,319 and around $82,000. A break lower could bring support near $76,000 and $75,000 into focus; analysts have also cited $75,875, the short-term holder realized price, as a potential support level. The 200-day moving average is near $73,200. With ETF outflows continuing and Treasury yields and weak technology stocks posing risks, the Bitcoin recovery remains tentative.