Crypto News

a16z growth partners say the AI infrastructure boom is accelerating, while adoption of AI tools remains at an early stage. In their September 2026 State of Markets discussion, they estimate that five major cloud providers—Alphabet, Amazon, Meta, Microsoft and Oracle—will spend about $780 billion on capital expenditure in 2026, up from $416 billion in 2025. Forecasts point to annual spending above $1 trillion from 2027. Demand for computing capacity reportedly continues to exceed supply, with cloud backlogs at Microsoft, Google and Amazon totaling about $1.7 trillion. The investors argue that AI infrastructure spending is supported by strong earnings and usage demand, rather than solely by rising share valuations. They also highlight the scale of the opportunity beyond data centres, including power, construction and other physical infrastructure. One estimate cited puts global infrastructure investment needs at $90 trillion by 2040. Despite rapid revenue growth at leading AI labs, enterprise adoption remains shallow: the discussion cites AI deployment at 69% of S&P 500 companies, but measurable impact at 30% and a longer-term tracked outcome at just 2%. Spending is also concentrated among heavy users; the median AI-tool spend of the top 1% of companies is about eight times that of the top 10% group. The partners see room for AI applications to connect general-purpose models with companies’ data and workflows, while lower model costs could enable more use cases. For traders, the discussion points to continued investment in AI infrastructure and related technology sectors, but does not directly address cryptocurrency markets.

Ethena transferred 128.6 million ENA, worth about $24.33 million, to Binance over a two-hour period, according to on-chain analyst Ember. Binance is buying back stolen assets through on- and off-exchange transactions to restore a gap in its proof of reserves. Ember speculated that the transfer may be linked to an over-the-counter ENA purchase by Binance. The exchange had 217.5 million ENA stolen the previous day. The purpose of this transfer has not been confirmed.

An Ethereum core proposal could let externally owned accounts (EOAs) permanently disable EIP-7702 delegation while keeping their existing addresses and ability to make ordinary transfers and contract calls. Developer nicolashw submitted the draft on 30 October. Unlike clearing a current delegation, the proposed irreversible action would prevent an account from authorising smart-contract code to act on its behalf in the future. It would not protect funds if a private key is compromised or revoke existing token approvals, and could affect account recovery or access to assets that depend on delegation. The draft has not been merged or assigned an official EIP number. If adopted, it would still require activation through an Ethereum network upgrade. The proposal has no immediate protocol effect, but it raises security and account-management considerations for users and developers evaluating EIP-7702.

US stocks closed lower as the sell-off in AI stocks and technology shares deepened. An earlier snapshot highlighted CoreWeave, down 11.91%, and Twilio, down 10.62%; the later report showed Twilio’s loss widening to 15.24%, alongside declines of 10.93% for Astera Labs and 10.88% for AMD. Dell and Marvell also fell more than 10%. The updated figures put the Dow down 1.09%, the S&P 500 down 1.82% and the Nasdaq down 2.86%, while the VIX rose 12.91%. The broad weakness in AI stocks may point to softer risk appetite, a sentiment signal crypto traders often monitor, although the reports provide no direct cryptocurrency price data.

Titan Builder recorded $22.83 million in protocol revenue over the past 24 hours, ranking first in data from DeFiLlama. Tether followed with $16.99 million, while Circle ranked third with $6.76 million. The figures put Titan Builder ahead of two major stablecoin issuers in this short-term revenue comparison. The ranking is a snapshot of reported protocol revenue and does not, by itself, indicate a change in token prices or broader market conditions.

A crypto whale known as “Set Ten Big Goals First” says they rebuilt a full BTC long position between $76,000 and $78,000 after observing signs of market stabilisation over the past two days. The trader had previously closed about two-thirds of their long position near $76,000 to limit risk after a sharp market shock. Their view is that $58,000 remains the bottom of the current BTC cycle. They expect BTC could reach $120,000 by year-end, with later bull-market targets near $118,000 and $150,000. These are the trader’s personal forecasts and positioning, not confirmed market-wide signals.

North Korean crypto hacks accounted for nearly 89% of reported cryptocurrency hacking losses in 2026 through 29 October, up from 15% in 2021, according to Chainalysis. The firm says average losses per suspected North Korean attack rose from $50.65 million in 2021 to about $186 million in 2026. Across 2021 to 29 October 2026, reported crypto hack losses reached $22.34 billion, with $13.24 billion attributed to suspected North Korean attacks—about 59% of the total. A small number of major incidents drove the 2026 figures. The article cites an estimated $6.3 billion–$6.4 billion loss in an October 29 Binance hack and a reported $387 million loss from a September Bitget exploit, both linked to the TraderTraitor group. Reported methods include social engineering and laundering funds across blockchains. TRM Labs separately estimates North Korea-linked activity made up about 85% of 2026 hack losses and puts cumulative theft since 2017 at $12.8 billion–$13.5 billion. Although estimates differ by methodology and period, both firms identify North Korean crypto hacks as a leading security threat.

Iron Fish will end all remaining support for its network after confirming a protocol-level inflation vulnerability, rather than a flaw in the ChainPort bridge, caused the recent abnormal activity involving wIRON. The Iron Fish bug traces back to a Merkle tree implementation change from early 2019. A flaw in how nullifiers—identifiers used to prevent duplicate spending of privacy notes—were calculated could let an attacker spend the same note repeatedly and move assets out through ChainPort. The team said the code had been included in internal and external audits, but the vulnerability went undetected. Iron Fish has submitted a fix and published a detailed post-mortem with the related pull request. It plans to close and archive its code repositories, marking the end of network support.

Franklin Templeton’s bitcoin dividend ETFs, FBEQ and FIBT, began trading on Nasdaq on October 29, recording about $72,000 in combined first-day trading. FBEQ traded 2,461 shares, worth about $62,000 at its $25.28 close; FIBT traded 399 shares, worth about $9,800 at its $24.52 close. The bitcoin dividend ETFs start with 95% of their index in stocks and 5% in bitcoin exposure. Company dividends are used to add bitcoin exposure, which is generally reviewed quarterly. The funds do not hold bitcoin directly: they use bitcoin exchange-traded products, futures and options, and depositary receipts. FBEQ charges a 0.09% annual fee, while FIBT charges 0.19%. The modest first-day volume suggests limited immediate investor demand. The ETFs offer a new route to bitcoin exposure, but their trading activity and effect on the wider market remain to be seen.

Three senior Gulf officials say the Trump administration has told regional allies to prepare for possible Iran strikes on November 4, the day after the US midterm elections. The reported plan could involve a brief but intense attack aimed at further damaging Iran’s nuclear programme or pressuring Tehran into a deal. The US has not struck Iran since September 1 and is currently applying pressure through a naval blockade of Iranian ports. Some Gulf states may oppose US forces using bases on their territory. The report is unconfirmed by the officials’ governments. For crypto traders, the prospect of Iran strikes is a potential source of short-term geopolitical risk and volatility; no direct impact on crypto markets is reported.

A tech selloff driven by concerns about the cost and potential returns of artificial intelligence (AI) weighed on major stock indices. Markets have spent months debating whether AI-driven productivity will justify the billions of dollars being invested in the technology. The article says Intel recorded its worst trading day since 1974 and Nvidia lost $5 trillion in market capitalisation. It also highlights the broader selloff’s reported $1 trillion loss in value. For crypto traders, the episode matters as a signal of weaker risk appetite, although the article does not report direct effects on digital assets.

The Canadian dollar climbed to a six-week high of C$1.3955 per US dollar, gaining 2% for the month as higher oil prices raised inflation concerns. The Canadian dollar’s strength has added to market expectations that the Bank of Canada could raise interest rates again in December. The central bank recently lifted its policy rate by 25 basis points to 2.5%, citing energy costs as an inflation risk. Investors will watch remarks from Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers, as well as upcoming inflation and employment data, for clues on the next rate decision.

The IRS is preparing to revise its voluntary disclosure programme, with a new plan expected by December that could reduce penalties for taxpayers who report unpaid tax. IRS criminal investigation chief Jarod Koopman said cases could be resolved within 120 days after taxpayers submit complete filings, but the agency has not announced penalty rates or eligibility rules. The news follows Roger Ver’s case. Ver admitted that he willfully failed to report Bitcoin holdings and pay tax on their deemed sale when he renounced US citizenship. He paid about $49.9 million in taxes, penalties and interest. The case illustrates that the IRS can pursue tax fraud without a time limit; ordinary assessment periods are generally three years, or six years for substantial income omissions. For US taxpayers, digital assets are generally treated as property. Sales, swaps and payments may create taxable events, while staking, mining, airdrops and DeFi income can be taxable as ordinary income. Centralised platforms are expected to report certain sales on Form 1099-DA, but taxpayers remain responsible for records and reporting transactions that do not appear on those forms. The IRS crypto tax disclosure plan may encourage voluntary compliance, but it does not change the underlying tax obligations.

Canton Strategic Holdings (Nasdaq: CNTN) plans to tokenize its common shares for trading on TSV LLC’s Canton venue, potentially as early as Nov. 2, 2026. This would bring tokenized CNTN shares onto the Canton Network, with an automated market maker offering 24/7 trading and immediate onchain settlement. Trading has not begun and depends on meeting the conditions of the SEC’s Sept. 17 Innovation Exemption for certain permissioned venues trading tokenized US stocks. SEC-registered transfer agent Fairmint is expected to issue the tokens, maintain the official ownership record and oversee transfer compliance. The shares are intended to carry the same shareholder rights as CNTN stock listed on Nasdaq. TSV says approved participants would face identity and sanctions screening, volume limits and other risk controls. Canton Strategic shifted its focus to digital assets in 2025 and holds Canton Coin while supporting projects on the network. The proposed tokenized share trading is a test of regulated onchain equity markets, not a direct cryptocurrency launch. Its implications for Canton Coin and wider market adoption remain uncertain; the announcement does not establish trading demand.

A Chinese legal commentary advises crypto holders who receive overseas-income tax reminders to respond promptly, but not to calculate tax by simply applying a rate to bank deposits. Bank receipts may reflect asset-sale proceeds, service income, transfers between a person’s own wallets, or other transactions; they are not automatically taxable income. Crypto tax assessments should establish the income type, tax year, asset cost basis, eligible expenses and any foreign tax credits. The article recommends verifying notices through official channels and documenting exchange records, wallet ownership, on-chain transfers, contracts and fiat payments. It also cautions that paying tax does not make crypto trading or payment routes compliant with financial regulations. The guidance highlights uncertainty around the tax treatment of some crypto activities and recommends professional advice for complex cases. It is a compliance-focused advisory, not a report of a new tax policy or a market-moving event.

Circle has published a developer guide explaining how issuers can use CCTP to move ERC-20 tokens other than USDC across supported EVM chains. Issuers can deploy a new native cross-chain token or configure an existing ERC-20 token as a custom CCTP connection. Both options use Circle’s messaging and attestation infrastructure and a burn-and-mint model. The guide says issuers retain control over ownership, operators, pause permissions, rate limits and per-transfer caps; Circle cannot take over those controls. CCTP for non-USDC tokens launched in September 2026 and supports Ethereum, Avalanche, OP Mainnet, Arbitrum, Base, Polygon PoS and Arc. It does not support non-EVM networks such as Solana. The expansion could give token issuers another way to connect liquidity across EVM networks, while its market impact will depend on adoption and transfer volumes.

Amazon’s AI infrastructure spending has pushed free cash flow sharply lower even as AWS growth accelerates. In the 12 months to September 30, 2026, free cash flow swung from a $14.8 billion inflow to a $42.4 billion outflow, a $57.2 billion reversal. Amazon’s AI spending included $77.3 billion in third-quarter property and equipment expenditure, more than twice the year-earlier level. The company maintained its 2026 capital expenditure outlook of about $220 billion and indicated spending could rise further in 2027. The investment is supporting strong results: AWS revenue grew 39.3% year over year to $46 billion, its fastest pace in nearly five years, while quarterly total revenue rose 12% to $201.9 billion. Trailing-12-month operating cash flow increased 29% to $168.3 billion, but long-term debt reached about $173 billion. Amazon also reported record consolidated operating income of $28.1 billion and net profit of $20.7 billion, with an AWS backlog of $578 billion. Its fourth-quarter sales outlook was slightly below analysts’ expectations. Amazon shares fell 4.3% on October 29 and dropped a further 7% in after-hours trading as investors weighed the cost and potential returns of the AI buildout. Traders will watch AWS growth, cash generation and capital spending for signs that the investment can deliver returns. The results add to wider tech-sector scrutiny of AI spending, though they have no direct price implication for a specific cryptocurrency.

Don Wilson has questioned Hyperliquid’s priority-fee mechanism and the transparency of positions and trades as ICE and trade[XYZ] plan to use Hyperliquid infrastructure for a US perpetual-futures market, subject to regulatory approval. ICE would operate the regulated market and clearing framework. Wilson asked whether priority fees align with core CFTC principles and whether offshore and US order-book liquidity can be combined. He also challenged the claimed benefits of on-chain trading: while atomic settlement can deliver purchased assets in real time, perpetual futures are contracts rather than assets, so that benefit does not apply. He asked whether investor Stan Druckenmiller would view real-time visibility into positions and trades as an advantage. The discussion puts Hyperliquid’s market design, transparency and regulatory fit under scrutiny as the proposed US offering takes shape.

KuCoin has immediately ended all products and services for users in Russia and Belarus, citing legal and regulatory requirements without naming a specific rule. The exchange has not announced a single account-closure or withdrawal deadline, nor disclosed how many users or assets are affected. Instead, KuCoin says affected customers will receive individual instructions and deadlines to close positions and withdraw funds. Users who have not received a notice need not act for now, and KuCoin urges customers to use official support channels to avoid phishing scams. The KuCoin exit follows service restrictions announced by MEXC and Bitget this month, reducing offshore crypto exchange options for traders in the two countries. The announcements point to a broader compliance shift, but the exchanges have not linked their decisions to a specific sanctions measure. Separately, the Bank of Russia says registered crypto exchange operators and digital depositories have 90 days to join a self-regulatory organization; it has not been stated that this requirement prompted KuCoin’s move.

Coinbase (COIN) received a cautious Buy rating upgrade after its third-quarter results showed stronger profitability and a more diversified revenue mix, despite ongoing crypto market volatility and cybersecurity concerns. Revenue was flat quarter over quarter, while adjusted EBITDA reached $333 million as the company kept expenses under control. Subscription and services revenue accounted for 49% of total revenue, offering Coinbase a steadier income base when trading activity and investor sentiment weaken. The article also cites reports of an alleged $6.3 billion Binance hack attributed to a North Korean cybercrime group. The incident highlights security risks across the crypto sector, although the provided article does not establish that Coinbase was affected. The author says Coinbase remains cyclical and its valuation is not yet a bargain. The stock may suit traders seeking tactical exposure to crypto markets, but the rating upgrade is not presented as a clear long-term investment case.

Zebra 7.1.0-alpha.0, a pre-release of the Zcash node software, focuses on faster mining and block propagation. It reduces delays in updating mining templates when transactions or new blocks arrive, speeds up block submission and verification, and relays blocks to peers sooner. The release also adds mining-pool features, including legacy JSON-RPC batch support, optional ZMQ hashblock notifications, the preciousblock RPC, and mining metrics. Zebra 7.1.0-alpha.0 retains the v29 state format used by Zebra 7.0.0, so testers can switch back without resyncing. It is an alpha intended for testing, not a recommended upgrade for production nodes. Some configuration checks have also become stricter.

The Recall Foundation will shut down after concluding that continued development is not commercially viable, citing protocol adoption, operating costs and growth prospects. The decision was not triggered by a hack or security incident. The foundation plans to burn about 359 million RECALL tokens, equal to roughly 35.86% of the total supply. Token holders will not receive distributions, redemptions or buybacks. The foundation’s remaining funds, about $3.7 million, will go towards creditor repayments and liquidation costs. app.recall.network is due to become read-only from 30 November, with liquidation expected to finish in the first quarter of 2027. The shutdown raises concerns about RECALL’s project outlook, despite the planned reduction in token supply.

Binance says it will cover customer losses from a security breach estimated at $6.3 billion, using its SAFU fund and additional company funds. The exchange initially said customer assets were unaffected and that it had reserved more than $6.34 billion, including about $5 billion in stolen tokens; it was also buying remaining assets through market and over-the-counter channels. Later, Binance reported that investigators had found additional breach points beyond the initially suspected compromise of a DevOps engineer’s laptop. It has not blamed an individual and said there is no evidence private keys were leaked. About $3 billion of the funds had been frozen on-chain. Binance paused withdrawals, revamped its withdrawal service, revoked affected address authorizations and began working with law enforcement and blockchain intelligence firms. It planned to restore withdrawals and publish a proof-of-reserves report. The attacker was also reported to have moved funds on Tron, while Aave reopened markets after a precautionary freeze. The Binance hack added to market anxiety: Bitcoin briefly fell to $76,300, with reported liquidations of nearly $479 million in BTC positions and $363 million in ETH positions. The incident keeps exchange security and potential volatility in focus for traders.

CoreWeave shares fell 10% on Oct. 30 amid a wider tech selloff, bringing their decline for October to about 30%. Investors are scrutinising CoreWeave’s substantial debt and the cost of expanding its AI data centres. Its bonds have reportedly traded at distressed levels, with yields above 15%, while short interest reached 23.7% of the free float. These indicators point to growing concern about leverage and the company’s ability to refinance funding needed to meet contractual obligations. No new financing deal or confirmed bankruptcy development was reported. For crypto traders, CoreWeave is an indirect gauge of confidence in AI infrastructure funding and technology-sector risk appetite, not a direct crypto-market catalyst.

Alexander Block, also known as Alexander Gurevich, has been extradited from Israel to the United States to face an eight-count indictment over the 2022 Nomad hack. US prosecutors allege he exploited a flaw in Nomad’s smart contracts to withdraw more than $2.8 million in tokens. Other users copied the exploit, contributing to more than $186 million being drained from a Nomad-controlled wallet. Block’s lawyers argued that he used the contracts as written and did not change their code. Israel’s Supreme Court rejected that defense, ruling that exploiting a software flaw can still constitute unlawful computer intrusion. Block has not been convicted, and a US court appearance date had not been announced. The case highlights legal risks around DeFi exploits and ongoing security concerns for crypto bridges, but it does not identify a direct price catalyst for a specific cryptocurrency.

The Recall Foundation plans to burn about 358.6 million RECALL tokens as it winds down the project and liquidates its development subsidiary, Recall Labs. The burn represents 35.86% of the token’s 1 billion total supply; staked tokens are excluded. The Foundation estimates supply will fall to 641.4 million RECALL after the burn, expected just before final liquidation in Q1 2027. The Recall Network app is due to become read-only on November 30, 2026, ending new competitions and rewards. Recall Labs is projected to liquidate around December 2026, followed by the Foundation around January 2027. The Foundation says its estimated $3.7 million in stablecoins and fiat will go to creditors and wind-down costs. RECALL holders will receive no compensation, distributions or buybacks. The shutdown follows the Foundation’s conclusion that its tested product directions are no longer viable amid rapid changes in the AI sector.

The SEC has charged BG Wealth Sharing and DSJ Exchange over an alleged crypto fraud that raised more than $130 million from retail investors. The firms allegedly promoted risk-free returns from crypto trading signals and used false regulatory filings and fake SEC-seal certificates to make the program appear approved. The SEC says more than 223,000 blockchain addresses sent funds between March and mid-June 2026, with investor losses exceeding $100 million. After withdrawals were restricted, investors were allegedly asked to pay a “tax” to unlock their accounts, but still could not withdraw. The SEC says its filings are not licenses or endorsements and is seeking injunctions, repayment of funds with interest, and civil penalties. The crypto fraud case highlights investor and regulatory risks, but does not identify a specific cryptocurrency affected.

The Binance hack, initially reported to involve about $6.3 billion, has prompted a broad effort to freeze and trace stolen assets. Binance said roughly $3 billion had been frozen. Elliptic later estimated that $2.84 billion was immobilized by Friday morning, while attackers still controlled about $3.33 billion in assets that issuers could not freeze. These figures reflect separate estimates and do not mean the frozen funds have been recovered. Tether froze about $1.567 billion in USDT, and Circle froze roughly $823 million in USDC. Other issuers and projects also restricted tokens. Binance restricted nearly 29,934 WBETH, while Arbitrum’s Security Council moved ARB and ETH to a restricted wallet; reports gave differing amounts for that transfer. The attack affected assets across Ethereum, Bitcoin, Tron, Arbitrum, Avalanche, Optimism and Base. About 195,000 ETH and 18,270 BTC remained under scrutiny in the earlier report. The Binance hack also reached DeFi. Before the freeze, the attacker deposited $60 million in USDT into Aave and borrowed $44.6 million in WETH. Aave briefly paused markets as a precaution, then restored them, saying the position remained overcollateralized and its contracts were unaffected. Binance said it was working with law enforcement and industry partners, and would cover user losses through SAFU and company funds. Traders may continue to watch on-chain transfers and exchange-related risk: freezes can limit access to some tokens, but do not guarantee recovery, and native assets such as BTC and ETH cannot be frozen by a central issuer.

Chainlink says its Chainlink Reserve added 427,600 LINK in October, spending more than $5.3 million. The reserve now holds 6.4751 million LINK. Chainlink says the reserve is intended to support the network’s long-term growth and sustainability.