Crypto News

HYPE recorded a record $16.2 billion in Binance spot trading volume in a single day, far above Binance’s average daily volume of about $3.6 billion over the past month. The surge coincided with a roughly 24% rise in HYPE, from $81 to $97. The move followed an announcement that TradeXYZ and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, plan to launch a US-based, 24-hour perpetual futures market using Hyperliquid’s infrastructure. The planned market would cover stocks, commodities, foreign exchange and cryptocurrencies, subject to regulatory approval. ICE would operate the regulated market, while TradeXYZ would handle its design and implementation. Crypto analyst Darkfost said the news was quickly priced in, but noted earlier comments from US President Donald Trump that CFTC chair Mike Selig was working to bring Hyperliquid into the US legally and compliantly. Stanley Druckenmiller also reposted the announcement on X. HYPE’s record volume and price jump signal strong near-term interest, while regulatory approval remains a key uncertainty.

Uniswap Labs, Andreessen Horowitz (a16z) and the DeFi Education Fund are urging Illinois to exclude decentralized finance (DeFi) activity from proposed Illinois digital asset tax rules. Their comments call for exemptions covering DeFi protocols, user interfaces, self-custody withdrawals and cross-chain bridge transactions. They also oppose requiring users to keep records of private keys. Illinois’ draft rules propose a 0.2% tax on digital asset transactions. The public comment period ends on 30 October. The state has agreed to delay the Digital Assets Tax Act’s implementation and enforcement until 1 July 2027. The final rules could affect how DeFi services and crypto users handle transactions in Illinois.

Ethena price fell 7.26% to $0.18653 on October 30 after the attacker linked to Binance’s reported $6.3 billion security breach sold 217.5 million ENA for about $33.93 million, according to Lookonchain. The attacker reportedly converted the tokens into ETH as part of wider altcoin sales that generated 70,480 ETH worth $158.25 million. ENA traded between $0.166247 and $0.217081 over 24 hours, with trading volume near $1.38 billion. It remains down 27.86% over the past month. The token faces resistance around $0.20 and $0.22; support is near $0.18 and $0.1658. A break below $0.1658 could expose $0.15, while a sustained move above $0.22 may open a path toward $0.24–$0.27. Santiment said ENA fell more than 16% during the four-hour period around the breach, while USDe briefly slipped to $0.9974. USDe’s supply changed by only about $1.5 million, relatively little compared with its typical daily movement, suggesting limited disruption to the stablecoin’s supply during the incident. A separate leveraged long position in ENA was opened on Hyperliquid, but it does not confirm that selling pressure has ended. Weak technical momentum and broader market declines remain risks for the Ethena price.

Cumulative net inflows into U.S. spot Bitcoin ETFs have surpassed $57.624 billion, with daily inflows of about $17.1 million to $17.2 million on October 29, according to the article. The figures point to continued institutional demand for Bitcoin, though ETF flows do not guarantee further price gains. The article uses the milestone to promote UE Crypto, a platform offering cloud-mining contracts and claiming automated daily payouts. Its sample contracts advertise returns such as $131 on a $1,000 investment over 10 days and $5,530 on $10,000 over 35 days. These are promotional claims, not independently verified returns. The article’s headline reference to daily earnings of $3,000 to $5,000 is not substantiated by the examples provided. Traders should assess the platform and contract risks independently; the article does not establish that cloud mining is safer or more reliable than holding Bitcoin or buying an ETF.

Bitcoin fell to $76,320–$76,500 after reports of a $6.3 billion Binance hack and a sell-off in US technology stocks, then rebounded to about $77,800. Binance said it was investigating the complex attack and would cover user losses with its SAFU fund and other company resources. Crypto liquidations reached $1.56 billion in 24 hours, including $1.31 billion in long positions, adding to Bitcoin’s selling pressure. The later rebound has not confirmed a market bottom. Bitcoin’s low was near its 200-day EMA at $76,470, while short-term charts showed bullish RSI divergence; its daily RSI fell to 34.7 and the price closed below the lower Bollinger Band. These signals may indicate easing selling pressure, but Bitcoin remains below key moving averages, including resistance near $80,600 and its 20-day simple moving average around $81,324. Derivatives data point to continued risk: OKX’s long-to-short account ratio rose before easing, futures open interest climbed 9% as prices fell, and funding rates remained positive, suggesting leveraged longs were building. Deribit puts outnumbered calls by 1.63 to one, while a Coinbase discount to Binance indicated weak US buying. Traders are watching US spot Bitcoin ETF flows, Binance withdrawals and whether long positions unwind. A daily close below $76,500 could expose the $74,968 range floor; reclaiming $80,600 would improve the recovery outlook. TRM Labs said the attacker still held 18,270 BTC. Past hacks offer mixed precedents: Bitcoin fell to a lower low after the 2025 Bybit theft, but rose 35% in the week after the 2019 Binance hack.

Arkham says the first roughly $300 million in XRP linked to the reported Binance hack was sent to a newly created wallet on October 29. XRP Ledger records show five transfers totaling 233.46 million XRP; the wallet had not sent any funds as of October 30. At an indicated price of $1.25, the balance was worth about $292 million—around 7.6% of reported 24-hour XRP trading volume. Unlike some stablecoins, XRP cannot be frozen by a token issuer, leaving the funds potentially movable by the wallet’s controller. The article says the broader theft involved about $6.36 billion across multiple chains, though the XRP wallet is not included in Arkham’s tracked hacker entity. XRP dropped to $1.2002 during the incident before recovering to about $1.25. It remained below its 50-day and 200-day exponential moving averages. Traders are watching the wallet for any movement: a large transfer to exchanges could add selling pressure, while continued inactivity may limit the direct impact.

Celestia v0.42.7 includes a high-priority type fix, backported from pull request #3532 and merged in #3534. The change binds ShareProof and RowProof to their positions in the data square. This improves proof handling in Celestia’s data-availability software. The changelog compares the release with v0.42.6; it does not report market or token-specific changes.

Newton Foundation says a suspected Binance hacker mistakenly sent about 8 million NEWT tokens and 17 other tokens to the NEWT token contract. The assets were worth approximately $3.5 million at current prices. The foundation said the contract was not hacked and is immutable, with no owner or admin and no upgrade function. As a result, the tokens are permanently locked and cannot be recovered or sold by the attacker. The foundation has shared its findings with Binance. The incident removes this batch of assets from potential sale, limiting the associated near-term sell pressure, though it does not resolve concerns about the wider Binance hack.

US-listed crypto stocks fell broadly at the market open on 30 October as news of a Binance hack and a sharp Bitcoin pullback weighed on risk appetite. Coinbase dropped about 12.46%, while Strategy fell 11.59%. American Bitcoin lost 11.33%, Circle fell 9.79% and Robinhood declined 8.67%; mining stocks including MARA and Riot were down more than 7%. The Binance hack was estimated to have an impact of about $6.3 billion. Binance said it had frozen some affected assets and would cover losses using its SAFU fund and company funds. Bitcoin had earlier slumped to around $76,700, adding to market anxiety. The sell-off appeared to reflect broader concern about crypto-market risk rather than company-specific news. The Binance hack and Bitcoin weakness prompted investors to reduce exposure across crypto exchanges, miners and Bitcoin-linked stocks.

Nvidia shares fell 3.3% to $206.61, bringing the chipmaker’s market value down to $4.98 trillion, below the $5 trillion mark. Nvidia stock has declined more than 9% since the start of October. The Philadelphia Semiconductor Index dropped 5.7%, with AMD down 10%, Arm down 9.5%, Marvell Technology down 5% and Qualcomm down 6.3%. SpaceX also fell more than 5%, reaching its lowest level since August. The broad tech and semiconductor sell-off may weigh on risk appetite, although the report does not cite a specific catalyst.

Crypto custody firms are expanding beyond secure storage into trust services, settlement and asset management as competition and demand for regulated digital-asset services grow. The article says the number of MiCA-authorised crypto custodians in Europe rose from 50 to 230 over the past year. It also cites tokenised real-world assets reaching about $39.8 billion after growing 85%, while stablecoin market value exceeded $300 billion in 2025. Custody providers typically earn fees linked to assets under custody, which can limit revenue growth. Trust services can give firms broader authority to manage assets and provide services such as investment advice, collateral administration and settlement, subject to fiduciary duties and regulatory approval. Anchorage and BitGo are extending their businesses into areas including stablecoin issuance and settlement. Agora and Catena are pursuing investment advisory and asset-management services. The article says all four have obtained or are seeking US national trust bank status; Agora and Catena received conditional preliminary approval from the OCC on 18 September 2026. The shift echoes the historical development of traditional financial institutions that expanded from safekeeping into trust and investment services. For crypto traders, the trend points to deeper institutional infrastructure for tokenised assets and stablecoins, but it does not itself signal an immediate change in cryptocurrency prices. The firms’ ability to win clients will depend on regulatory approvals, product execution, security and demonstrated investment performance.

Trezor is urging customers who bought hardware wallets through former authorized reseller CryptoBilis from March 2026 onward to move their funds to a wallet created with a fresh recovery seed. The warning follows a report that a Trezor Safe 5 purchased on Indonesia’s Tokopedia marketplace may have contained a hardware implant. It could reportedly capture information displayed on the wallet screen, including the recovery phrase, and transmit it over a cellular network. Trezor has not examined the device and says no buyers have reported related losses. It is treating the report as credible and advises customers to consider all Trezor models bought through CryptoBilis potentially unsafe. Restoring an old backup on another device may not protect funds if its seed was exposed. Customers should avoid setting up unopened devices from the reseller, contact Trezor Support and watch for phishing attempts. Trezor ended its official reseller relationship with CryptoBilis in October 2026. The warning follows reports that Ledger devices purchased through the same seller were physically altered; Ledger confirmed an unauthorized hardware implant in one affected device. The cases highlight supply-chain risks for hardware wallets. CryptoBilis buyers should use a trusted device to generate a new seed and never share their recovery phrase.

Binance estimates its late-October security incident affected about $6.3 billion in assets, with partners freezing roughly $3 billion. The exchange said an early investigation points to a compromised DevOps engineer’s laptop and has found no evidence that wallet private keys were exposed. Binance temporarily suspended withdrawals for security checks and says user losses will be covered by its SAFU fund and company resources. The estimates are not final, and a full post-mortem and updated proof of reserves have not been published. Co-founder Changpeng Zhao (CZ) asked Elon Musk to stop mocking the incident on X. Zhao said Binance’s SAFU assets and company holdings could help cover a remaining shortfall, including SpaceX-linked shares he valued at more than $1 billion. Co-CEO Yi He said annual revenue could cover losses without selling those shares. The Binance hack remains a test of exchange security and user confidence; the final financial impact and recovery of funds are still uncertain, which may weigh on short-term market sentiment.

Ripple announced major developments at Swell 2026, including expanded RLUSD access on Coinbase platforms and a broader partnership with Robinhood. BNY expanded custody support to XRP and RLUSD, while Moody’s assigned RLUSD investment-grade ratings. Ripple CEO Brad Garlinghouse called XRP the company’s “North Star,” though he said stablecoins or fiat can suit some transactions. Ripple also received final OCC approval to establish a national trust bank and said its product revenue run rate is nearing $900 million annually. Ripple and C2FO plan to bring supplier-payment settlement to the XRP Ledger, while developers proposed changes that would further restrict unauthorized access to permissioned tokens. Flare joined the XRPL validator list. Despite these business and network developments, XRP fell with the wider crypto market after a major exchange hack. After dropping to a multi-month low of $1.19, XRP remained about 4% lower on the day and 6% down over the week, with its market capitalization below $80 billion.

Marathon Fusion, a US nuclear fusion startup, says it has used high-energy neutrons to convert mercury-198 into radioactive mercury-197, which decays into stable gold-197. The company has not disclosed its output; production remains microscopic, with milligram-scale output a stated goal for 2027. The claim has not been independently verified. The company’s research models output of about two tonnes of gold per gigawatt of thermal fusion power annually, but this is a projection for a future reactor, not commercial production. Global mines produced 3,672 tonnes of gold in 2025. The process would require complex infrastructure, has no demonstrated economic viability at scale, and the gold would need to be stored for more than a decade while its radioactivity declines. Marathon Fusion says it also aims to produce medical isotopes and tritium fuel, potentially earning revenue before fusion power becomes commercially viable. Founded in 2023, it has received about $4 million in US government funding and raised $5.9 million in seed financing. It aims to deliver its first commercial reactors to partners in 2027, although fusion reactors may still be at least a decade from wider deployment. If fusion gold eventually becomes cheap and available at scale, added supply could pressure gold prices and renew comparisons with Bitcoin, whose supply is capped at 21 million BTC. But the technical, regulatory and cost hurdles remain substantial. Fusion gold is therefore unlikely to affect Bitcoin or gold trading in the near term.

Trust Wallet said it was unaffected by the October 29 breaches involving Binance and Polymarket, and announced an internal security review focused in part on AI-driven threats. The company plans to strengthen operating procedures and harden its code, though it has not disclosed further details. Binance reported an estimated $6.3 billion in unauthorized withdrawals, reportedly linked to a compromised DevOps engineer’s laptop. About $3 billion was frozen. Polymarket suffered estimated losses of $2.65 million to $2.73 million after a third-party script was compromised; roughly 700 to 737 accounts were affected, and trading was halted. Trust Wallet has faced a supply-chain incident before: in December 2025, about $8.5 million was reportedly drained from 2,520 addresses. The cases highlight security risks involving devices, credentials and third-party code. Trust Wallet’s self-custody model separates users’ keys from exchange systems, but does not eliminate wallet-provider or supply-chain risks.

Meteora has opened its Season 2 MET allocation checker for expert contributors, including educators and builders who helped grow its LP Army. Eligible contributors can connect a Solana wallet by December 31, 2026, to confirm their share of 6 million MET, equal to 0.6% of the token’s 1 billion total supply. The tokens will be distributed in increments, with no further on-chain action required after wallet linking. The Meteora MET allocation checker covers a separate reward from the 20 million MET pool for liquidity providers. That main Season 2 claim window closed on October 21, 2026. Season 2 eligibility for both programs covered activity from July 1, 2025, through June 30, 2026. Meteora has earmarked 15% of MET’s total supply for liquidity providers and contributors across the LP Stimulus Plan. The new allocation is relatively small, but its distribution and future seasons may contribute to MET’s circulating supply over time.

Dragonfly managing partner Haseeb Qureshi said the $6.3 billion Binance hack triggered less market panic than FTX’s 2022 collapse, despite a similar scale of losses. Bitcoin fell about 5%, from above $80,800 to around $76,500, while outflows remained muted and affected tokens largely held their value as traders expected Binance to reimburse users. Binance said it committed more than $6.3 billion in corporate funds to cover losses and had begun restoring affected users’ assets. Qureshi attributed the limited fallout to confidence in Binance’s financial capacity and cooperation across the crypto industry. For traders, the response may ease immediate contagion fears, but the hack and broader market weakness remain risks to monitor.

Alexandre Laizet, an executive at Capital B, argues that France’s high public debt and Europe’s risk of monetary debasement strengthen the case for Bitcoin. France’s debt is about 120% of GDP, but Laizet says the central problem is that borrowed funds are spent rather than invested. In an interview with Bitcoin Magazine, Laizet discussed Capital B’s Bitcoin treasury strategy, its ambition to become Europe’s most capitalised company, and the role of French capital markets in raising funds. The conversation also covered Bitcoin-backed credit, regulatory conditions in France and Europe, and proposed MSCI rules for Bitcoin treasury companies. Laizet said Capital B continued to grow its Bitcoin holdings through the bear market. The interview presents a pro-Bitcoin argument rather than announcing a new policy or transaction. It highlights Bitcoin as a potential treasury asset and source of digital credit amid concerns about public debt and currency debasement.

Galaxy Research’s Alex Thorn says Bitcoin’s bottom may be in, pointing to a historical signal: Bitcoin has not made a new low after reclaiming its 50-week moving average following more than 20 weeks below it. Thorn also highlighted Bitcoin’s resilience around $80,000 and described market positioning as light, suggesting many traders remain on the sidelines. He noted a shift in institutional exposure, with hedge funds reducing holdings while sovereign entities and wealth managers increase exposure. The view is supportive of Bitcoin, but it is an assessment from a research note rather than confirmation that prices cannot fall further.

Market commentator Doomberg argues that US pressure on allies to keep holding US Treasuries could strengthen the long-term case for Bitcoin and gold as neutral reserve assets. If central banks cannot freely sell Treasuries during a crisis, they may turn to assets they can more readily trade. Doomberg says this dynamic may help explain gold’s short-term weakness since February 28, while supporting its longer-term outlook. He also sees Bitcoin as a potential neutral reserve asset and says younger, digitally connected generations may be more inclined to choose Bitcoin. The comments are part of a broader discussion of energy markets, geopolitical risks and central-bank politics; they do not announce a new policy or market action.

US Treasury auctions raised a record $839 billion this week through 11 sales of bills and notes, exceeding the previous record of $834 billion set a year earlier. Most of the proceeds will repay maturing debt. Net new borrowing was $106 billion, far below the record levels seen during the pandemic in March and April 2020, when weekly net cash raised peaked near $362 billion. The record US Treasury auctions may draw attention from bond and crypto traders because large debt issuance can raise concerns about financing costs and Treasury yields. Mischler Financial Group’s Tony Fallon said investors could demand higher yields. However, the gross auction total overstates the government’s new borrowing, so the figures alone do not confirm a sharp increase in funding pressure.

The Binance hacker holds 18,270 BTC, worth about $1.4 billion, across 19 addresses—199 BTC more than Coinbase disclosed in company-owned holdings for investment and operations as of 30 September. The BTC has not moved since 04:48 Beijing time on 30 October. The attacker also holds 508,621 ETH, exceeding the 495,362 ETH held by treasury company The Ether Machine. The attacker initially stole about 200,600 ETH; the remaining ETH was acquired by converting stolen stablecoins and other tokens. The large, unmoved Binance hacker BTC holdings could draw trader attention to potential selling pressure, although no transfers have been reported.

PancakeSwap said its smart contracts and services remain operational and were not affected by the Binance security incident. The decentralized exchange also voiced support for Binance and thanked ecosystem participants helping affected users and protecting the community. The statement provides reassurance about PancakeSwap’s operations, but does not describe the nature or broader impact of the Binance incident.

A 1kx Capital report forecasts blockchain revenue of about $100 billion in 2026, down 28% year on year as crypto prices and trading activity weaken. The decline broadly tracks an estimated 30% fall in average crypto prices, even as on-chain transaction counts are projected to rise 18% and monthly active users remain near 200 million. The latest figures point to a shift in blockchain revenue towards institutional adoption and real-world applications, which are expected to provide 30% of the total. In the third quarter, revenue from real-world uses—including tokenised real-world assets, payments and prediction markets—reportedly surpassed blockchain infrastructure revenue for the first time. Tokenised equities and prediction markets are among the faster-growing sources, while infrastructure revenue is forecast to fall 39% and transaction fees to roughly halve. DeFi and financial services remain the largest sector, accounting for about 66% of revenue; infrastructure contributes around 22%. Listed companies’ share of blockchain revenue has risen to 16%, from 7% in 2022. A dividend-token index is reported to have gained 82% year to date, highlighting the growing role of distributions and buybacks in crypto valuations. For traders, the data suggest that blockchain revenue is increasingly tied to applications, institutional activity and cash flows, but remains exposed to crypto prices and market liquidity.

A new GCSA forensic report on the Binance hack says 50 verified EIP-7702 authorization signatures prove signing capability, but cannot establish whether a private key was stolen or identify who initiated the requests. The report reviewed 18 transactions, tracked authorization and asset movements, and examined a revocation signature. It stresses that valid EIP-7702 signatures are not proof that Binance’s keys were secure: on-chain data alone cannot distinguish key theft from misuse of a signing service or compromised approvals. GCSA also found that three transactions linked to MetaMask Gas Station had matching funding and gas-budget amounts. This is a verifiable lead for further investigation, not proof of an operator’s identity or IP address. The report does not independently confirm Binance’s account of an engineer’s laptop being compromised or external attribution to North Korean actors. At the report’s snapshot, a target address remained blacklisted with about 175 million USDT. A revoked authorization or frozen funds do not mean assets have been returned. The findings focus on Ethereum and do not constitute a full audit of all affected chains. For traders, the report clarifies the evidence but does not resolve the breach’s root cause or final losses.

Zcash Community Grants (ZCG) has proposed redirecting about 98,000 ZEC from development grants to future miner rewards through the Network Sustainability Mechanism (NSM). The preliminary plan would move 36,200 ZEC from ZCG’s treasury of about 91,500 ZEC into the NSM, while reducing the committee’s expected future allocations by roughly 62,000 ZEC. Its remaining funding would taper by about 3% per month until 2032. The proposal would keep miners’ current 80% share of block rewards unchanged and preserve the 21 million ZEC supply cap and existing halving schedule. The NSM would hold ZEC out of circulation and release it gradually as miner rewards over decades, potentially supporting network security after future halvings. The proposal is not yet a formal governance submission and still requires the usual Zcash approval process. Community responses have been divided, with some welcoming the plan as a compromise and others questioning ZCG’s accountability or calling for the grants committee to be abolished. If adopted, the change would reduce future grant funding while building a longer-term reward reserve for Zcash miners.

Trader Killa says the Binance hack could mark a market bottom, drawing a comparison with FTX’s collapse. He argues that Binance may have an incentive to push prices higher to recover losses, and claims the exchange has the capacity to place large Bitcoin long positions that retail traders may not see. Killa also estimates that liquidations, slippage and fees may have generated around $1 billion for exchanges during the volatility, though this figure is his estimate, not a verified amount. He expects short-term market rebalancing but sees the higher-timeframe outlook as bullish. Other traders remain cautious, including a large trader reported to have added Bitcoin put options. The view that the Binance hack signals a bottom is speculation, not a confirmed market outcome.

Binance is cooperating with the FBI and US Secret Service in an investigation into a crypto theft reportedly worth about $6.3 billion, Reuters reported on 30 October, citing an unnamed source. Binance has confirmed it is working with law enforcement but has not publicly named the agencies. The latest report gave no further details about the theft, the assets involved or any recoveries. Binance has said it froze about $3 billion and set aside more than $6.34 billion in company funds to cover the incident, including through its SAFU fund. The attackers have not been officially identified: TRM Labs and Chainalysis have pointed to possible North Korean involvement, while Binance co-CEO Richard Teng said investigators had not assigned responsibility to any individual. The investigation may help trace stolen crypto, but the scale of the case could intensify concerns about Binance security and exchange risk.