Crypto News

Intel stock fell nearly 30% on Friday to $65.76, erasing more than $146 billion in market value, after the chipmaker issued a weaker-than-expected fourth-quarter forecast. The decline was its worst single-day fall in more than 50 years. Intel expects Q4 revenue of $15 billion to $16 billion, below analysts’ $17.07 billion estimate. Adjusted earnings per share are forecast at $0.25, versus expectations of $0.43. The outlook overshadowed stronger third-quarter results: revenue rose 21% year over year to $16.5 billion, while adjusted earnings per share reached $0.52. Demand for AI server processors is growing rapidly. Intel’s Data Center and AI division reported $7.3 billion in revenue, up 78% year over year. But manufacturing and packaging constraints, weaker PC demand and a factory accident in Israel are limiting output and pressuring margins. Intel expects its Q4 gross margin to fall to 38%, from 44.1% in Q3. The company also warned it probably will not generate positive free cash flow next year as it invests heavily to expand manufacturing and compete with TSMC. Nvidia’s $5 billion investment and a potential Apple manufacturing deal have supported hopes for Intel’s turnaround, but investors remain concerned about execution, spending and the PC market outlook. Intel stock’s sharp fall highlights the gap between strong AI demand and the company’s ability to supply chips profitably.

Bitcoin has fallen about 8.4% in October and is trading around $76,000–$77,000, putting it on course for a second consecutive month of October losses. The decline follows an early-month rally to roughly $80,000–$84,000 and a subsequent drop, with intraday lows near $76,500. Bitcoin’s 30-day high was in the mid-$86,000s. Traders are watching the $76,000–$76,200 area, where the 100-day simple moving average and the 0.382 Fibonacci retracement converge. A break below this Bitcoin support zone could trigger stop-losses and add to selling pressure. October’s weakness contrasts with Bitcoin’s historical seasonal trend: it has risen in 10 of the past 13 Octobers since 2013, with an average gain of about 19%. Broader market conditions may also affect whether support holds.

The CFTC has proposed a voluntary federal registration option for US crypto exchanges offering retail customers leveraged, margined or financed trading. The CFTC proposal would bring registered venues under requirements for market surveillance, anti-manipulation measures, customer protection and proof of reserves. Basic spot exchanges could remain primarily under state oversight, and Congress has not authorised the CFTC to require every crypto exchange to register federally. The proposal is not final and would not immediately change exchange operations. For traders, it is a regulatory signal rather than a direct price catalyst; its longer-term effect will depend on the rulemaking process, congressional action, exchange participation and compliance costs. The summaries cite no concrete evidence of a direct impact on Bitcoin prices.

Walmart-backed fintech OnePay now lets select US customers deposit USDC directly into OnePay Checking accounts. The USDC deposits are automatically converted into US dollars and credited to users’ checking balances, with no conversion fees at launch. The feature launched on October 30, 2026, and supports transfers across 12 blockchains, including Base, Solana, Ethereum and Tempo. Stripe’s Bridge platform handles deposit addresses, compliance checks and conversion. The service could simplify access to everyday banking for freelancers and gig workers paid in USDC, who may otherwise need to use an exchange and make a separate bank withdrawal. The move builds on OnePay’s earlier crypto services: Bitcoin and Ethereum trading began in January 2025, followed by additional tokens in March 2026. Availability is currently limited to select US customers.

Polymarket is investigating newly created accounts that placed well-timed bets on Israel’s Oct. 27 election, according to Bloomberg. Hundreds of accounts backed Benjamin Netanyahu to remain in office and his Likud party to win the most seats shortly before polls closed. The bets turned profitable after exit polls showed stronger results for Likud than early reports suggested. Blockchain analytics firm Bubblemaps identified 101 accounts first funded on election day, while Polysights reported large inflows into “YES” positions from new wallets. Some accounts reportedly cashed out more than $100,000 combined. Polymarket’s three main Israel election markets recorded about $106.4 million in trading volume, though the amount linked to wallets under review is unknown. The investigation has not established wrongdoing, and no traders have been publicly accused. Polymarket prohibits trading on stolen confidential information and says it can ban wallets or refer cases to law enforcement. The case adds to scrutiny of insider trading and oversight on prediction markets, but its direct effect on broader crypto prices is likely limited.

Cardano founder Charles Hoskinson warned of “seriously dangerous code” after sharing an analysis alleging that an attacker used Ethereum’s EIP-7702 delegation feature to target a Binance hot wallet. The analysis, published by CyberSatoshi, describes a custom sweeper that allegedly processed tokens and could call an external vault holding $823 million in USDC. These claims have not been independently confirmed. CyberSatoshi said the alleged operation used 50 pre-signed authorizations to account for the wallet’s changing transaction nonce. It also acknowledged that the attacker would have needed the wallet’s private key or unrestricted access to Binance’s signing systems. EIP-7702 requires a valid signature to delegate account execution; its specification warns that delegated code can have unrestricted access to the account. Hoskinson did not identify a specific protocol flaw or explain which parts of the analysis he endorsed. The report therefore raises questions about wallet security and signing controls, but does not establish how credentials were obtained or confirm the alleged attack’s full impact.

Binance says it will cover all losses from the 30 October hot-wallet attack, which involved about $6.3 billion in tokens. The exchange has secured more than $5 billion to reimburse users through its SAFU fund and company funds, and says roughly 80% of the stolen assets have been replaced. Binance has also frozen about $3 billion on-chain; the remaining funds are being sourced through market and over-the-counter purchases. Deposits and withdrawals were suspended after the attack, while spot trading continued. Binance says withdrawals could resume in stages within about 34 hours, subject to security checks. Investigators have identified possible points of intrusion but found no evidence that wallet private keys were exposed. Binance expects to publish further technical findings within about 48 hours and plans a proof-of-reserves snapshot, with results expected by 2 November. Traders are watching the withdrawal restart, recovery of remaining funds and security disclosures for signs of further market volatility. Binance has warned users to avoid unsolicited compensation links.

A reported $6.3 billion Binance security breach coincided with a sharp crypto market sell-off. The Binance hack saw Bitcoin fall 4.8% to about $77,131 and Ethereum drop 5.7% to roughly $2,217, while BNB lost 8.2% to around $693. XRP, Solana, AAVE and UNI also declined. The Crypto Fear and Greed Index fell to 30. CoinGlass data showed more than $1.5 billion in leveraged positions liquidated over 24 hours, including about $1.34 billion in longs. Bitcoin accounted for roughly $499 million of liquidations and Ethereum $358 million. Futures open interest fell 3% to about $136.3 billion, while trading volume rose 74% to $346.1 billion, indicating reduced exposure amid heightened volatility. Bitcoin and Ethereum later recovered some losses but remained below pre-sell-off levels. Binance said it would cover affected customer losses and that about $3 billion in related assets had been frozen with industry partners. It temporarily paused deposits and withdrawals while investigating. Aave restricted new deposits and borrowing in its V3 and V4 markets as a precaution, while saying its smart contracts were not compromised and withdrawals and loan repayments remained available. The Binance hack has intensified security concerns and may keep traders cautious as they assess market risk and exposure.

Tokenized stocks could follow stablecoins’ growth path over the next four to five years, Flowdesk CEO Guilhem Chaumont says, as financial institutions explore putting equities and ETFs on blockchain networks. The tokenized stock market has grown from under $1 billion at the start of 2026 to about $4.63 billion by late October. Stablecoins, by comparison, grew nearly 64-fold from a similar market size in 2020 to around $297 billion today. Tokenized stocks remain a small market, concentrated among Binance bStocks, Ondo Finance and xStocks, which together account for more than 80% of capitalization. About 86% of tokenized stocks use collateralized structures, with issuers holding underlying securities. Chaumont says round-the-clock trading and wider access could support adoption, but institutional growth depends on secure custody, settlement infrastructure and clear regulation. Recent exchange security incidents have heightened concerns about moving large balances onchain. The stablecoin comparison signals potential, not a guaranteed repeat of that growth.

US President Donald Trump says he will review the reported $6.3 billion Binance hack, which the article describes as the largest crypto theft on record. The breach reportedly hit Binance hot wallets across several blockchains on October 29 and lasted about 20 minutes. Investigators have attributed the attack to TraderTraitor, a North Korean-linked group, and suspect a compromised laptop belonging to a DevOps engineer enabled access. The attribution has not been independently confirmed in the article. Binance halted withdrawals and said it would use its Secure Asset Fund for Users (SAFU) and corporate treasury to cover losses, setting aside more than $6.34 billion. Around $3 billion in assets, mainly stablecoins, have reportedly been frozen by issuers and partners. Binance aims to resume withdrawals within 45 hours and is working with law enforcement. The reported loss exceeds the $1.5 billion Bybit hack in 2025. The Binance hack has also weighed on crypto prices, raising short-term concerns about exchange security, liquidity and market confidence.

Two draft proposals would reshape Zcash Community Grants (ZCG) funding and miner incentives, but neither has been approved. In the later joint proposal, Zcash founder Zooko Wilcox and cryptographer Sean Bowe back ending ZCG’s 8% share of block rewards after the NU7 upgrade. That funding would instead go to a locked fund for future development and legal defence, while ZCG would transfer 50,000 ZEC to the Network Sustainability Mechanism, which distributes ZEC to miners over time. At the article-cited price of about $1,224 per ZEC, the transfer is worth roughly $61 million—more than half of the approximately 91,450 ZEC shown on ZCG’s dashboard. A day earlier, ZCG had proposed moving about 36,200 ZEC from its treasury to the miner reserve and forgoing roughly 62,000 ZEC in future allocations. Under that separate plan, it would retain about 55,200 ZEC and taper funding through the 2032 halving. The Zcash proposals remain preliminary amid criticism of treasury governance and disagreement over funding and implementation. Any shift could influence views on ZEC’s mining incentives and long-term funding, but the reports note no immediate price reaction.

US President Donald Trump said the alleged $6.3 billion Binance hack is under investigation and that officials do not yet know whether North Korea was responsible. He added that Binance says the situation is under control. Blockchain analytics firms Chainalysis and TRM Labs have attributed the attack to TraderTraitor, a hacking group linked to North Korea, but the US government has not formally confirmed that assessment. The Binance hack raises concerns about crypto exchange security, although the reported containment may help limit immediate disruption.

Anthropic’s infrastructure spending commitments could become a financial strain if demand for its AI services slows, warned Tessera PE CEO Chan Ahn, a former Goldman Sachs and JPMorgan executive. The company reported $16.3 billion in first-half 2026 revenue and $131.7 billion in cash and short-term investments, but disclosed about $265.6 billion in fixed or minimum-guaranteed infrastructure commitments. Around 80% of first-half revenue came from consumption-based services, leaving questions about whether revenue will keep pace with future obligations. Anthropic’s filing also disclosed a facility allowing it to issue up to $42 billion in convertible notes to help finance infrastructure lease obligations; none was outstanding as of June 30. Ahn said the company’s financial links with suppliers, investors and distribution partners—including Amazon, Google, Microsoft and Broadcom—could spread stress across the AI infrastructure sector if demand weakens. He stressed that these are risks to monitor, not evidence of an industrywide crisis. The potential $1.5 trillion valuation is not the IPO’s fundraising target. Anthropic has not specified the offering size or share price; Renaissance Capital estimates it could raise about $75 billion. Ahn sees a more direct competition for capital with other technology IPOs than with crypto markets. Anthropic’s spending commitments, revenue growth and partner financing arrangements will be key indicators for investors.

Binance says it is targeting a phased withdrawal restart within about 34 hours of its latest update, following a reported $6.3 billion hot-wallet breach on October 29. The timeline depends on security reviews, and withdrawals remain suspended while checks continue; deposits and unaffected services are still operating. Binance plans to take a Proof of Reserves snapshot within 12 hours and publish the results by November 2. It says more than $6.34 billion in company funds, including assets held through its Secure Asset Fund for Users and corporate treasury, is available to cover losses. About $5 billion is already held in affected cryptocurrencies, and the exchange is acquiring the remainder. Binance also says it has worked with authorities and industry partners to freeze about $3 billion in stolen assets. Investigators have not found evidence that wallet private keys were leaked, but say the attack may have involved multiple security breaches. Binance expects to release further technical findings within about 48 hours and publish a detailed postmortem.

The Binance hack triggered a selloff, but analysts at Cantor Fitzgerald, TD Cowen and Compass Point say it is unlikely to derail the broader crypto market recovery. They view weakness in crypto-linked stocks as a potential buying opportunity, while warning that the incident exposes risks in centralized exchange security. The later report says attackers used a compromised employee laptop to access withdrawal infrastructure and steal about $6.3 billion from hot wallets across 10 blockchains on October 29–30, 2026. TRM Labs and Chainalysis linked the attack to TraderTraitor, a group associated with North Korea. Binance says it has more than $6.34 billion in reserves to cover customer losses, that user funds are safe, and that withdrawals are expected to resume within days. About $3 billion of the stolen assets has reportedly been frozen, including funds frozen with help from Tether, Circle and Ripple. The Secret Service and FBI are investigating. Bitcoin fell towards $77,000 after the attack. Compass Point identified $75,000–$77,000 as a key price range and said reimbursements could affect stablecoin supply. Analysts also said the breach reflects a Binance security failure rather than a flaw in Bitcoin, while competitors such as Coinbase and Hyperliquid could benefit. Moody’s warned that hot-wallet vulnerabilities and the concentration of assets on large exchanges remain broader risks. Traders will be watching for the resumption of withdrawals, the status of frozen funds and Binance’s reimbursement process. The incident is reported to be the largest crypto theft to date, surpassing the 2025 Bybit hack.

Tether’s excess reserves rose by about $3.85 billion in the third quarter to $7.95 billion, with a rebound in Bitcoin accounting for most of the increase. The company’s September 30 attestation, reviewed by BDO, reported $191.45 billion in assets against $183.5 billion in liabilities, mostly USDT in circulation. Bitcoin’s valuation rose 42.6% over the quarter. At roughly 98,900 BTC, that added an estimated $2.47 billion to Tether’s reserves, according to the article’s calculations. Higher gold prices contributed about $700 million. The reserve buffer remains $278 million below its March-end level of $8.23 billion. Tether reported $1.5 billion in third-quarter net operating profit and said it held $132.4 billion in direct and indirect Treasury bills. The reserve recovery reflects market-price gains in Bitcoin and gold; BDO’s attestation covers balances at September 30 and does not establish that the buffer will remain at that level.

Uber tested a blockchain-based corporate treasury strategy with HSBC, Franklin Templeton, Tradeweb and Fireblocks, earning an extra 1.5 days of yield by keeping cash invested over the weekend. On Thursday, Uber used HSBC tokenized bank deposits to buy a Franklin Templeton tokenized money market fund, then sold it on Sunday. The Canton Network supported liquidity and settlement, allowing the investment to remain active beyond traditional market hours. The 1.5 days refers to additional time earning yield, not a 1.5% return; the investment amount and earnings were not disclosed. Tokenized deposits are claims on a bank and differ from reserve-backed stablecoins. HSBC plans to expand access to US corporate customers and offer options beyond Franklin Templeton products. Fireblocks CEO Michael Shaulov forecast that hundreds of companies could adopt similar models within 18 months, although Uber’s transaction remains a pilot. The test highlights the potential of tokenized money market funds and blockchain settlement for corporate cash management, but it is not a direct cryptocurrency trading or price event.

Bitcoin’s rebound above 78,000 USDT, reported at 78,003.4 USDT with its 24-hour loss narrowed to 4.28%, was followed by a lower OKX quote of 77,010.9 USDT. In the later update, Bitcoin remained above 77,000 USDT, but its daily loss widened to 4.51%. The change points to renewed weakness after the initial recovery, rather than a confirmed trend reversal. Traders may watch whether BTC holds 77,000 USDT and whether trading volume supports a rebound; the reports do not provide volume data or explain the move.

The S&P 500 ended October modestly lower as a late-month sell-off in technology and AI stocks offset gains in energy, defensive and value shares. The S&P 500 ETF (SPY) fell 2% for the month. Energy led sector gains, supported by stronger oil trends and robust third-quarter results from Exxon Mobil and Chevron. Defensive stocks recorded their strongest monthly performance relative to technology since the early 2000s. Economic signals remain mixed: job growth is weak, consumer spending is resilient, and inflation remains above 3%, leaving the Federal Reserve’s policy path uncertain. Despite the S&P 500’s decline, earnings estimates are rising and valuations have eased to about 18 times earnings. The article also notes that historical seasonality tends to favor stocks in November and December, although that is not a guarantee of future gains.

Coinbase CEO Brian Armstrong, board member Frederick Ernest Ehrsam III and President and COO Emilie Choi have adopted Rule 10b5-1 plans covering up to 13.59 million Class A shares. Valued at about $2.18 billion at Coinbase’s October 29 closing price of $160.59, the prearranged sales could begin between November 2026 and January 2027, subject to plan terms and price conditions. The plans cover about 8.17 million shares for Armstrong, 3.87 million for Ehrsam and 1.56 million for Choi, with some shares linked to equity awards. Coinbase said the plans were adopted during an open trading window and comply with company policies; they do not guarantee that all shares will be sold. Coinbase also repurchased 37,995 shares in the third quarter at an average price of $139.91, with about $1.96 billion remaining under its buyback authorisation. Third-quarter net income was about $719 million, up from $432.6 million a year earlier, while revenue was about $1.22 billion, down 35% year over year. Transaction revenue fell 43% to just over $590 million. Prediction markets generated more than $200 million, and prediction markets and derivatives together contributed at least 25% of transaction revenue; subscriptions and services accounted for 49%. Operating expenses fell 17% to $1.15 billion. Net income included roughly $715 million in unrealised gains on crypto investments. COIN closed at $160.59 and dropped nearly 5% in after-hours trading to $152.98. Coinbase insider stock sales may weigh on sentiment toward the company’s shares, but the plans are scheduled well in advance and are conditional. They do not directly indicate a change in cryptocurrency market fundamentals or guarantee near-term selling.

Tether reported $1.5 billion in third-quarter operating profit and $4.5 billion in profit for the first nine months of 2026. At the end of September, Tether held $191.45 billion in reserve assets against $183.50 billion in liabilities, leaving $7.95 billion in excess reserves—up from $4.1 billion at the end of June. BDO prepared the attestation covering the figures. U.S. Treasury bills and related cash-equivalent holdings accounted for $139.58 billion of reserves; Tether separately reported $132.4 billion in direct and indirect Treasury bill holdings. It also held $19.08 billion in gold and $8.37 billion in Bitcoin, whose value had risen from about $5.8 billion in June. Treasury bills and reverse repurchase agreements were the main sources of operating income. USDT represents about 60% of the $297.3 billion stablecoin market. CEO Paolo Ardoino said its user base exceeded 700 million, with adoption concentrated in emerging markets. The larger Tether reserve buffer may support confidence in USDT’s backing and redemption capacity, but does not by itself signal a broad crypto rally. Transparency remains a point of scrutiny: Tether said it completed its first full independent financial statement audit by KPMG US in August, but did not publish the statements.

Canary Capital has amended its SEC filing for the proposed Canary Staked INJ ETF, which would trade on Nasdaq under ticker INJC if approved. The fund would hold Injective’s INJ token and stake at least 90% of its assets through third-party providers, reinvesting net staking rewards rather than paying them out to shareholders. The filing sets a 1.10% annual management fee and allocates 30% of staking rewards to fees. Injective’s 21-day unstaking period means the fund plans to retain some liquid assets to meet redemptions. The Injective Foundation has committed to an initial purchase of up to $15 million in shares, paid in INJ. The proposal remains subject to SEC approval. Investors would gain regulated exposure to INJ and its staking rewards, but would still face token-price volatility, validator and operational risks, liquidity constraints and significant fees.

Coinbase reported third-quarter revenue of $1.20 billion, below analysts’ $1.233 billion estimate. Subscription and services revenue reached $570 million, while monthly transacting users fell to 7.4 million from 9.3 million a year earlier. Coinbase’s share of crypto trading volume rose for a fourth consecutive quarter to 10.7%, and adjusted EBITDA was $332.9 million, marking 15 straight profitable quarters on that measure. The company also said its prediction markets business exceeded $200 million in annualized revenue, and Coinbase One subscriptions reached a record high. Separately, CEO Brian Armstrong filed a Rule 10b5-1 plan to sell up to 8.17 million Coinbase Class A shares between November 2026 and October 2027, subject to price conditions. Similar plans by co-founder Fred Ehrsam and President Emilie Choi bring the total to about 13.6 million shares. Armstrong has described scheduled sales as personal risk management. Coinbase shares fell about 15% amid wider market weakness following Binance’s disclosure of a major security breach. Bitcoin dropped roughly 4.5% to below $77,000, while Strategy and Strive shares also declined. The article additionally reports that Coinbase bought 643 BTC, worth about $1.5 billion, for its balance sheet in the third quarter. Coinbase shares are down more than 55% this year.

Polymarket has launched 15-minute up-or-down prediction markets for gold and silver, extending its short-term markets beyond crypto. Chainlink is the official oracle, supplying low-latency price data through Data Streams and its Runtime Environment. The markets compare Chainlink time-weighted average prices at the start and end of each period: a final price at or above the opening benchmark settles as “Up,” while a lower price settles as “Down.” This price-based settlement is separate from the proposal-and-dispute process used for UMA-resolved markets. Chainlink says Polymarket’s five- and 15-minute crypto markets have generated more than $11 billion in combined trading volume; the figure does not specify volume for the new metals markets. Polymarket plans to add more commodities, followed by equities and foreign exchange, but has not given a timetable or specified which jurisdictions can trade them. The expansion broadens Polymarket’s asset range, while the announcement provides no direct evidence of new demand for the LINK token.

US real wages fell 0.7% year over year through September, marking a sixth consecutive month of declines. Weekly pay also slipped below zero, despite workers putting in longer hours. The article attributes the squeeze mainly to rising energy costs: gasoline prices were up 34.2% and overall energy prices 20.4%, while core CPI rose 2.6%, below wage growth of about 3.0%. Households are coping through longer working hours, reduced savings and increased credit-card borrowing. The labor market offers less support than it did in 2022: September payrolls grew by just 29,000. Meanwhile, discretionary stocks have underperformed staples by about 19% since their late-2025 peak, with losses accelerating around the September CPI report. The article argues that weakening real wages are already pressuring consumer-facing stocks and could signal broader household spending weakness. For traders, real wages, energy inflation, employment data and consumer-sector performance are key indicators to watch.

Connection Capital founder Dan Krupka warns that a stronger US dollar could pressure Bitcoin, gold and broader markets in the coming months. He argues that rising energy prices may weigh on the euro and Japanese yen, supporting the dollar and challenging the Bitcoin “dollar debasement trade” — the view that fiat-currency concerns will lift scarce assets. Bitcoin was trading near $77,500, while the US Dollar Index closed at about 101.85 on October 29, up from 101.45 at the end of September. Dollar strength can tighten financial conditions and reduce demand for risk-sensitive assets, including Bitcoin. The relationship is not certain: Federal Reserve policy, institutional demand and crypto-specific flows could change the outlook, and gold may attract defensive buyers even if Bitcoin falls. Traders are watching energy prices, the dollar index and yields for signs of whether dollar strength will persist.

Binance co-founder Changpeng Zhao (CZ) said the reported $6.3 billion Binance hack was the largest crypto theft by US-dollar value, but smaller than the Mt. Gox collapse when measured in Bitcoin. The Binance incident reportedly involved about 18,270 BTC and 420,000 ETH, while estimates put Mt. Gox’s losses at 650,000 to 850,000 BTC—more than 5% of Bitcoin’s supply at the time. CZ said the Binance hack affected the exchange, not customer funds, and that Binance would absorb the losses. He argued that the scale of a crypto theft should also be judged by how many users are affected and how much of their assets are lost. The incident remains a major security and reputational setback, but the stated protection of customer funds may help contain withdrawal concerns and wider market contagion. Its limited effect on Bitcoin’s price was also attributed to the stolen assets’ size relative to BTC supply.

CFTC Chairman Michael Selig says the reported $6.3 billion Binance security incident highlights the need for stronger safeguards at offshore crypto exchanges. He is advocating a federal registration pathway that would let exchanges register with the CFTC and adopt cybersecurity protections comparable to those required in US markets. The proposed pathway is currently voluntary. Requiring offshore platforms to register would need further congressional authorization. Selig also said blockchain ledgers could help investigators trace stolen funds, even when attackers use mixers such as Tornado Cash, and that the CFTC would work with law enforcement. The remarks renew attention on Binance security, crypto exchange regulation and compliance costs. They may increase pressure on offshore platforms serving US users, but do not by themselves impose new rules or directly change trading conditions.

Bitcoin fell to about $76,400 after a record $6.4 billion hack targeting Binance, but its decline was less severe than the sharp sell-off following a failed attack on the exchange in 2018. The latest drop left Bitcoin roughly 6% below its post-Federal Reserve level, while more than $1.3 billion in leveraged positions were liquidated. Market structure may have helped limit the damage. The crypto market has grown from just over $400 billion in 2018 to about $2.6 trillion, and US spot Bitcoin ETFs hold roughly 1.3 million BTC, or about 6% of supply. BlackRock’s Bitcoin fund recorded $136 million in inflows on Wednesday, although those flows predated the attack. Binance says it has set aside more than $6.34 billion to cover losses, is buying replacement tokens, and expects withdrawals to resume within 45 hours. About $3 billion has reportedly been frozen. However, the attacker still holds more than 420,000 ETH and 18,270 BTC—assets that cannot be frozen by stablecoin issuers. The market was already under pressure: Bitcoin is about 38% below its record, and the Fear and Greed Index fell from 43 to 36, entering “fear” territory. Analysts linked the attack to the North Korean group associated with the Bybit heist. While the response and institutional investment may have reduced panic, the hack adds near-term uncertainty for Bitcoin and broader crypto trading.