Crypto News

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.

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.

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.

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.

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.

Anthropic is negotiating to lease a hyperscale data centre campus northeast of Edmonton, according to a post circulating on X. No Alberta deal has been confirmed. If signed, it would make Alberta the second Canadian province to host computing capacity for the Claude developer. The talks follow Anthropic’s October 2026 lease agreement with EverWind Fuels for a data centre in Point Tupper, Nova Scotia. That facility is scheduled to open in late 2027 with 95 megawatts (MW) of capacity, potentially expanding to 420 MW by 2028. EverWind says it is investing more than C$10 billion in the project and related wind energy developments. Anthropic had posted Alberta-focused jobs for large-scale computing roles in August. Its infrastructure spending reportedly reached $7.33 billion over the past year, three times its 2024 level. The company is also reportedly preparing for a possible US IPO. A potential Edmonton lease would add to Alberta’s growing data centre sector, where Meta is developing a facility in Sturgeon County with planned capacity of 1 gigawatt. For now, Anthropic’s talks remain unconfirmed; a lease, its capacity and its construction timeline are key developments to watch.

Yemen’s government forces say Houthi rebels launched ballistic missiles at Aden Airport and the Maashiq Presidential Palace Complex, escalating tensions with the internationally recognized government, which is backed by Saudi Arabia. The Houthis, also known as Ansar Allah, say their attacks target military facilities. Earlier strikes in October reportedly hit the same critical infrastructure and caused casualties. The Houthi missile strikes add to concerns about regional instability and the possibility of a Saudi response. Prediction market odds put the chance of Saudi airspace being closed by 1 January 2027 at 13%. The probability of Houthi forces entering Aden by 31 December is 16.5%. These figures reflect market expectations, not confirmed outcomes. Traders will watch for further attacks, Saudi aviation or government announcements, and ceasefire or de-escalation efforts.

Gold fell 3.1% to $3,897.09 an ounce on October 30, its lowest level in a year, despite a sharp global stock-market selloff. The price is down about 30% from its January record of $5,595. Silver dropped 6% to around $49, while platinum also reached a multi-month low. Gold has weakened as US inflation data and rising oil prices fuel expectations that the Federal Reserve will keep interest rates high or raise them again. Brent crude rose above $117 a barrel, adding to concerns that energy costs could keep inflation elevated. Higher rates tend to weigh on gold because it pays no yield. Forced selling by investors seeking cash amid stock-market losses may have added pressure. Traders are watching $3,850 and the psychological $3,800 level as potential support. A recovery above $3,900 and then $3,950 could improve the short-term outlook; $4,000 is a further resistance level. Central-bank buying may support gold over the longer term, but has not prevented the recent decline. Goldman Sachs lowered its 2026 year-end forecast to $4,650, while warning that current prices have moved substantially below that projection.

Nvidia stock fell nearly 5% on Friday as investor concerns about the cost and returns of AI infrastructure triggered a selloff across chipmakers. AMD dropped about 10%, while Intel plunged roughly 29% after issuing a disappointing outlook. The Nasdaq Composite lost more than 2%. The decline came despite Nvidia’s strong results. The company reported fiscal second-quarter revenue of $96.2 billion, up 106% year over year, with Data Center revenue rising 117% to $89 billion. Net income increased 126% to about $59.7 billion. Nvidia forecast fiscal third-quarter revenue of around $108 billion, plus or minus 2%. Investors are increasingly focused on whether AI spending can generate adequate returns. Amazon’s trailing 12-month free cash flow shifted from positive $14.8 billion to negative $42.4 billion, despite 39% growth in AWS revenue. Alphabet reported $51.4 billion in quarterly capital expenditure and approximately $9.1 billion in negative free cash flow. These figures have intensified scrutiny of the costs of expanding AI infrastructure. For Nvidia stock, upcoming results and guidance will be important tests of demand and investor confidence. Higher interest rates and debt-funded infrastructure projects add risk, although demand from startups, governments and industrial users could broaden Nvidia’s customer base.

Bitcoin options trader Crash claims his account grew from $250,000 to about $3.4 million during a week of market declines. A screenshot showed account assets of $3,387,187.14, but did not provide a trade-by-trade breakdown or establish how much of the balance came from closed positions. The figures imply a gain of about 1,255% against the stated starting capital, if there were no deposits or withdrawals. Crash separately claimed a BTC put returned 150x and that another options contract rose from $130 to $25,000 in six hours. The post does not establish whether those were the same trade. These are unverified claims, and the contract details needed to assess the returns were not provided. Crash advised traders to close positions after large favorable moves, especially in less liquid options. Wide bid-ask spreads and limited order depth can make it difficult to exit at displayed prices. The claims highlight the potential for outsized returns—and losses—in leveraged crypto options, but do not indicate a broader change in Bitcoin market conditions.

Two Texas brothers, Raymond Christian Garcia and Isiah Angelo Garcia, were sentenced to 15 and 15½ years in prison for a September 2025 home invasion in Grant, Minnesota. They held a family at gunpoint for more than nine hours and forced the father to transfer over $8 million in cryptocurrency, including by taking him to retrieve hardware wallets. Both pleaded guilty and were later arrested near Houston. The case highlights the risks of crypto wrench attacks—violent coercion used to seize digital assets. Chainalysis recorded 46 violent incidents targeting crypto holders in the first half of 2026, with more than $30 million stolen. The sentences underline that US courts treat crypto wrench attacks as serious violent crimes.

Crypto-linked stocks fell sharply on Friday after Binance disclosed a $6.3 billion security breach, described in the report as the largest cryptocurrency theft on record. Coinbase shares dropped more than 13%, while Circle fell over 9% and Strategy declined about 8%. Bitcoin miner and data-centre operator IREN lost more than 10%, and Figure Technology Solutions fell about 9%. The selloff followed weak revenue figures from Coinbase and Strategy, reported on Thursday. Coinbase posted $719 million in net income, including about $715 million in gains on crypto investments, but net revenue fell 34% year over year to $1.16 billion. Strategy reported $19.53 billion in net income, largely reflecting a $20.91 billion gain in the value of its Bitcoin holdings; revenue fell 3% to $125.4 million. The Binance hack added a fresh security concern to existing pressure on crypto-related equities. The sharp share-price moves signal heightened investor risk aversion, though the article does not provide evidence of a comparable decline in cryptocurrency prices.

Grayscale says Hyperliquid generated $38 million in revenue last month, including income from third-party channels such as Builder Codes and HIP-3 markets. The figure adds to more than $1.4 billion in cumulative protocol revenue. Hyperliquid has also carried out more than $1.26 billion in HYPE buybacks. The reported revenue may support confidence in Hyperliquid’s business model, though it does not guarantee token price gains. Prediction-market odds for HYPE reaching $100 by year-end were reported at 74%, down from 81% over the previous 24 hours, indicating some cooling in trader expectations.

Tokenized assets, payments and other real-economy applications generated 22% of crypto industry revenue in Q3 2026, edging past blockchain infrastructure at 21%, according to 1kx. It is the first time these broader-economy applications have out-earned infrastructure in the firm’s tracking. The report projects total industry revenue of about $100 billion for 2026, down 28% from roughly $140 billion in 2025. Transaction fees paid to chains now represent less than 3% of industry revenue. Real-world activity included $3.4 billion in digital-asset payment-card spending during Q3 and more than $13 billion in tokenized-equity trading volume on Robinhood Chain. Public companies accounted for 16% of blockchain revenue in 2026, compared with 7% in 2022. The findings suggest tokenized assets and payments are becoming more important sources of crypto revenue, while chain fees alone provide a less complete measure of activity.

The Nasdaq-100 has fallen more than 5.8% in October, putting it on course to lose over $2 trillion in market value as investors question whether AI revenues will justify soaring infrastructure costs. Amazon’s shares initially fell more than 6% after it reported trailing 12-month free cash flow of negative $42.4 billion, down from positive $14.8 billion a year earlier, and outlined a $220 billion AI investment programme. Amazon later recovered much of its decline. Intel dropped more than 25% amid concerns about weak PC demand, manufacturing constraints and high capital needs. Alphabet also came under pressure after reporting about $51.4 billion in quarterly capital expenditure, while weaker search advertising and negative free cash flow added to investor concerns. Big Tech’s growing reliance on borrowing—including Microsoft’s planned $25 billion bond offering—has raised questions about financing costs and investment returns. JPMorgan estimates AI capital expenditure could reach $900 billion in 2026 and $5.5 trillion cumulatively by 2030. Demand for AI infrastructure remains strong: Amazon Web Services reported 39% annual revenue growth. The Nasdaq-100 selloff reflects investor concern that the scale and cost of AI spending may outpace companies’ ability to generate cash returns.

A blockchain investigation says the Binance hack began with the theft of 233.46 million XRP, worth about $296 million. The funds were taken from five Binance wallets in coordinated transfers between 20:05 and 20:09 UTC, after attackers had prepared for at least 36 hours, according to TRM Labs. The Binance hack then spread to other networks. About 20:20 UTC, a Binance Bitcoin hot wallet transferred 18,270 BTC, valued at roughly $1.47 billion. On Ethereum, attackers used pre-signed authorizations and EIP-7702 account-delegation functionality to sweep 167,464 ETH, USDT and other tokens. Investigators identified about $6.36 billion in transfers across ten blockchains by 00:30 UTC on October 30. TRM said the XRP remained unmoved when it conducted its investigation. TRM attributed the operation with high confidence to TraderTraitor, a North Korea-linked hacking group, but Binance has not independently confirmed who was responsible. Binance said it froze about $3 billion in affected assets and would reimburse customers. The incident heightened exchange-security concerns and contributed to a sharp fall in BNB, according to the article.

Binance is cooperating with the FBI and the US Secret Service in an investigation into a reported $6.4 billion theft, according to Odaily. Circle says it has frozen more than $800 million in USDC linked to the case and is assisting law enforcement. The article’s headline also says Tether froze more than 1.567 billion USDT, but the report does not provide details supporting that claim. The Binance theft investigation could affect confidence in exchange security and raise concerns about the movement and recovery of funds.

The article says BNB has faced selling pressure after a reported $6.3 billion Binance exploit, while still holding around the key $700 support level. It attributes the alleged attack to North Korea’s TraderTraitor group based on claims cited from TRM Labs; Binance has not confirmed the attribution. Binance says a compromised DevOps engineer’s laptop may have enabled unauthorized withdrawals, says there is no evidence private keys were exposed, and has pledged to cover user losses. The article also says about $3 billion was frozen on-chain, citing coordination with several crypto firms. Its headline-grabbing BNB price outlook is an explicitly extreme, speculative scenario—not a base-case forecast. It imagines BNB Chain becoming a major settlement network for institutional real-world asset tokenization, alongside a broader crypto bull market. Under those assumptions, the article floats a price range of $2,800–$4,500 and a stretch target above $7,000 by January 1, 2027. Traders should treat these figures cautiously: the security incident, its scale, and the forecast are claims in the article, and the proposed adoption catalyst is hypothetical. Near-term attention is likely to remain on Binance’s response, withdrawals, and whether BNB can hold support.

Bitcoin’s quantum threat is emerging as an economic concern before quantum computers can directly compromise the network, Stacks founder Muneeb Ali says. He argues Bitcoin needs a credible quantum-resistant roadmap, with meaningful progress by 2028 and a possible transition target of 2030. The lengthy upgrade process and time needed for holders to move funds could weigh on institutional confidence, despite US spot Bitcoin ETFs holding more than $104 billion in net assets. Elsewhere, Ripple received final US approval to establish a federally supervised national trust bank. It will manage reserves backing RLUSD and provide custody services, while RLUSD issuance remains with a New York-regulated subsidiary. In Europe, USDC captured 56% of euro-denominated stablecoin trading, up from 10% in January 2024, as MiCA rules prompted restrictions on USDt trading for some customers. USDC’s euro order books are about 40% deeper, although USDT remains much larger globally. VanEck launched an actively managed multi-asset ETF with a target 2% Bitcoin allocation, adjustable between 1% and 5%, through a spot Bitcoin exchange-traded product. Together, the developments highlight Bitcoin security concerns alongside growing institutional, regulatory and investment-product adoption.

The Nasdaq 100 fell 3.6%, wiping more than $1.3 trillion from its market value in its biggest daily decline since June 5. Disappointing earnings from Amazon and Intel fueled concerns about technology stocks and AI spending. Bitcoin also fell below $77,000 amid the broader market sell-off, while crypto markets showed widespread losses. Prediction-market pricing put the odds of Bitcoin trading above $82,000 by November 3 at 5%. Traders will be watching upcoming technology earnings and wider market signals for signs of whether risk-off pressure will persist.

zkLink has launched a bounty programme in response to a security incident affecting zkLink Nova. Security researchers and white-hat contributors who provide information that materially helps recover funds may receive up to 20% of the amount recovered. The team will determine eligibility and rewards based on the value of the information provided. The exploiter may also keep 20% as a white-hat bounty by returning all funds, and zkLink says it will take no further legal action over funds returned. The incident’s scale and any confirmed losses were not specified.

Gate founder and CEO Lin Han has called for a crypto security alliance to coordinate security standards, intrusion detection and emergency response across the industry. The appeal follows a Binance security incident that the report says involved losses of about $6.3 billion. Gate also proposed vaults using split keys shared among users, Gate and a recovery partner. Under the plan, at least two parties would need to be compromised before funds could be moved. A 48-hour withdrawal delay would give users time to freeze withdrawals if an attack is suspected. Gate said it has flagged the related hacker addresses and would freeze illicit funds transferred to its platform. The proposals could strengthen crypto security, though withdrawal delays may affect liquidity and user access to funds.

Ocean is facing a Bitcoin transaction-censorship allegation after developer Kruw said miner Powre excluded his consolidation transaction from block 973,817. Kruw’s comparison showed 1,698 transactions in the mined block versus 3,580 in an expected template, with transaction fees 7.68% lower. The figure refers to fees in the comparison, not a proven cut to every pool participant’s payout. Ocean representative Chris said the pool’s DATUM setup allows miners to choose transactions for their own block templates. He acknowledged that leaving fees uncollected may be economically questionable, but argued that Ocean should not control miner choices through payout decisions. Kruw said the pool could reject work that falls below an acceptable fee level. Chris countered that miners may have different mempool data and relay policies, so a fee shortfall against a hypothetical maximum does not by itself prove censorship. The Bitcoin mining dispute highlights a broader debate over miner autonomy, pool rules and fee revenue. It has no clear direct market-price catalyst, but could draw attention to Bitcoin’s transaction-selection practices and mining-pool governance.

A joint proposal from Tachyon Group and Shielded Labs would end automatic future funding for the Zcash Community Grants (ZCG) program while allowing it to continue awarding grants from its remaining treasury. The plan would redirect Zcash’s 8% block subsidy allocation to a new development and legal defense lockbox, where funds would remain inaccessible until a later community decision sets rules for spending. ZCG would also be required to send 50,000 ZEC to an unspendable address within 30 days of community acceptance. The donation would not require a network upgrade. Redirecting the funding stream and incorporating the donated ZEC into the Network Sustainability Mechanism would require a consensus upgrade after NU7. Under the proposed mechanism, the coins could return through future block subsidies, so the donation would not permanently remove them from Zcash’s monetary schedule. The proposal estimates that ZCG would retain 41,452.98 ZEC and about $8.8 million in dollar holdings after the donation, with outstanding grant liabilities of roughly $2.4 million. Its projected remaining treasury value of $60.3 million assumes a ZEC price of $1,300 and is not a current market valuation. Zcash co-founder Zooko Wilcox presented the draft as a compromise that preserves grantmaking while changing how future development funds are managed. The draft has no activation date.

The reported $6.4 billion Binance hack prompted a public exchange between Elon Musk and Binance co-founder Changpeng Zhao (CZ). After Musk responded to discussion of Binance’s potential losses with a grimacing emoji, CZ asked him to stop trolling and pointed to Binance’s SpaceX shares, valued by CZ at more than $1 billion. Binance co-CEO Yi He said the company’s annual revenue could cover the losses without selling those shares. CZ later clarified that he had not proposed selling them. Binance says it has reserved more than $6.34 billion to cover the incident, including $5 billion in the same tokens that were stolen. It is sourcing the remaining amount through market and over-the-counter purchases. Tether and Circle froze assets linked to the attackers, while blockchain analytics firms TRM Labs and Chainalysis attributed the attack to North Korea-linked group TraderTraitor. The Binance hack highlights how recovery options differ across crypto assets: centralized stablecoin issuers can freeze tokens, while Ethereum cannot be frozen by a central issuer. For traders, the scale of the reported theft and questions about exchange security may weigh on sentiment, although Binance’s stated reserves and the frozen funds could help limit concerns about its ability to cover losses.

The Crypto Fear & Greed Index fell 21 points to 29 on October 30, entering fear territory as Bitcoin dropped below $77,000. Bitcoin briefly touched about $76,400, down from a close near $77,839 the previous day. The article attributes the sell-off to a reported $6.3 billion Binance breach spanning October 29–30. BNB fell about 8.5%, while roughly $1.57 billion in crypto futures positions were liquidated in 24 hours, including about $522 million in Bitcoin and $361 million in Ether liquidations. Despite the sharp shift in sentiment, Bitcoin dominance remained near 59% and total crypto market value stood at about $2.6 trillion. Analyst Benjamin Cowen identified the 200-day moving average, near $73,000, as a potential Bitcoin support level. Traders are watching whether that level holds, while the liquidation figures underline the risks of leveraged trading.