Crypto News

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.

Anthropic may struggle to secure an investment-grade credit rating after its planned IPO, despite targeting a valuation of $1.5 trillion to $2 trillion. A Financial Times writer says the company’s large future computing commitments could weigh on its credit profile. Anthropic’s IPO filing reportedly lists at least $417 billion to $430 billion in future computing obligations. Including contingent commitments and additional capacity, the total could reach about $750 billion. Some contracts with Broadcom, Google, Amazon and Microsoft are off balance sheet, but credit agencies may still count them as liabilities. The Claude maker reported $16.3 billion in revenue and an $80.7 billion net loss for the first half of 2026. KBRA assigned Anthropic a BB+ rating in June, one notch below investment grade. An IPO could strengthen its cash position, but the scale of its commitments and losses may continue to limit its rating. Investors will watch the IPO proceeds, rating-agency decisions and whether losses narrow as revenue grows.

Federal Reserve official Musalem said monetary policy and overall financial conditions remain accommodative, while inflation is still too high. He argued that inflation is unlikely to ease without Fed action and that early Fed rate hikes could reduce the risk of a larger shock to the broader economy. His comments signal concern about persistent price pressures, but do not announce a policy decision. Traders may watch upcoming inflation data and Fed communications for clues on the timing and pace of rate hikes.

Allora says its network and ALLO token contract remain secure, and ALLO held outside Binance was unaffected by the exchange’s security incident. Some ALLO held on Binance was stolen, but Allora activated an emergency safeguard that prevents the tokens from being transferred, sold or used. The tokens have not left the attacker’s wallet and are being returned to Binance in full. Allora says the incident will not change ALLO’s total supply.

The U.S. Federal Reserve has kept interest rates unchanged as it weighs persistent inflation against broader economic uncertainty. Divided policymakers have left the possibility of another rate hike open, while markets look ahead to the Fed’s December decision. Hafiz Noordin, vice president and director of active fixed-income portfolio management at TD Asset Management, discussed the rate outlook. The Fed’s next steps could influence bond yields and the U.S. dollar, with knock-on effects for risk assets, including cryptocurrencies.

Aave market freezes are under scrutiny after an X user claimed a Binance-linked attacker deposited $60 million in stolen USDT and borrowed about 19,762 ETH before the restrictions took effect. The claim has not been confirmed in the article, and Aave has not announced a loan shortfall or losses for depositors. Aave contributor Emilio said the freezes were precautionary and intended to help issuers recover stolen assets. Setting borrow caps to zero could stop new borrowing, he said, but leaving deposits open might still let attackers move funds into the markets. He did not identify the affected markets or give a timeline for lifting restrictions. The incident also prompted a debate over DeFi lending design. Morpho co-founder Paul Frambot said isolated markets can contain risk, while acknowledging they do not eliminate market-level liquidity and interest-rate disruptions. Aave contributor Marc Zeller countered that Morpho Blue lacks certain emergency controls and deposit-loss protections, arguing that lenders in a failed isolated market could bear the losses. For traders, the episode raises questions about Aave’s exposure, asset-recovery controls and the trade-offs between pooled and isolated lending. The alleged 19,762 ETH borrowing and any resulting loss remain unverified.

Paybis is a cryptocurrency platform that lets users buy digital assets using cards, PayPal or bank transfers. It serves customers in more than 180 countries and lists over 90 cryptocurrencies, although payment options, limits and availability vary by location. The review advises buyers to check the final purchase quote for the total cost, including platform fees, exchange-rate spreads, possible bank charges and network fees. Credit card transactions may be treated as cash advances by issuers, potentially adding fees and immediate interest. Identity verification may also delay a first purchase. Paybis may appeal to buyers seeking multiple payment methods and broad asset selection. The article recommends checking local terms, comparing costs with other platforms and starting with a small test purchase. It is sponsored content and does not report a market-moving development. Paybis and crypto purchases carry risks; cryptocurrency prices can fall sharply.

A reported $6.3 billion hack at Binance dominated a week otherwise focused on the Federal Reserve’s decision to hold interest rates steady. Bitcoin fell to a six-week low of $76,400 after news of the breach emerged, then partially rebounded. The article says other entities froze about $3 billion in assets. The shock spread across the market: BNB fell below $700, Solana (SOL) dropped more than 7%, and total liquidations reached $1.5 billion, wiping out more than 235,000 traders in a day. At the weekly market snapshot, Bitcoin was at $77,380, down 5.1%; Ether (ETH) was $2,225, down 7.4%; and XRP was $1.25, down 4.5%. Bitcoin dominance stood at 57.8%. Other notable developments included the US Office of the Comptroller of the Currency granting final approval for Ripple National Trust Bank, and Intercontinental Exchange agreeing to operate US perpetual futures linked to Hyperliquid, after which HYPE rose 15%. The article also reports a $2.6 million loss at Polymarket and a 6,182 BTC purchase by Strive. Overall, the reported Binance breach intensified risk aversion and added pressure to Bitcoin and the wider crypto market.

Elliptic has released a free Binance exploit blocklist in CSV format, enabling crypto businesses to screen transactions linked to the attack. API access is expected to follow, and Elliptic says it will add addresses as investigators trace the stolen funds. The firm attributes the hack to North Korea-linked actors, raising potential sanctions exposure for businesses that handle the funds. Elliptic estimates the theft at $6.43 billion, making it the largest crypto theft on record and more than four times the $1.46 billion taken in the Bybit exploit in February 2025. It says $2.84 billion has been frozen, while the remaining funds may be laundered through the crypto industry over the coming months. The blocklist is intended to help platforms identify stolen funds and reduce laundering routes.

Bitcoin traded near $77,000 on Friday as a broad sell-off in risk assets weighed on crypto markets. BTC was down about 1.1% on the day and on track to end October 7.7% lower, its weakest October performance since 2014, according to CoinGlass data. The Nasdaq Composite fell 2.5% to around 25,500 after disappointing technology-sector guidance renewed concerns about AI investment and profitability. Intel shares dropped nearly 30% after the company warned of weaker-than-expected fourth-quarter sales. Gold also fell, touching $3,891 an ounce, its lowest level in a year. Crypto faced an additional source of pressure from the reported $6.3 billion Binance hack. Binance said it would cover losses using its own capital, and a spokesperson said the exchange had $5 billion in matching tokens available. QCP Capital said the combination of macroeconomic pressures, technology-sector concerns and the Binance incident had heightened market repricing. For traders, the developments point to elevated volatility and continued sensitivity to risk sentiment and exchange-related news.

Microsoft Copilot outlined a highly speculative scenario in which XRP could reach $28–$50, with a stretch target above $75, by 1 January 2027. The hypothetical catalyst is a coordinated decision by central banks and payment networks to use the XRP Ledger for multi-CBDC cross-border payment corridors, potentially generating substantial demand for XRP. The article stresses that such coordination is considered highly unlikely and the figures are not a realistic base-case forecast. At the time cited, XRP traded at $1.25, down 2.7% for the day amid reports of an alleged $6.3 billion Binance-related hack. The article identifies support around $1.18–$1.22 and $1.10–$1.15, with resistance near $1.35–$1.45. It says a sustained move above $1.60–$1.80 could signal stronger intermediate momentum, while XRP’s previous all-time high is given as about $3.66. These technical levels and the extreme AI-generated targets are scenarios, not guarantees.

Strategy executive chairman Michael Saylor backed Binance’s pledge to reimburse users after a breach on October 29–30 that the exchange estimates caused about $6.3 billion in losses. Saylor said Binance has committed more than $6.34 billion to cover losses, with $5 billion in affected tokens already allocated and the exchange’s balance sheet set to cover any shortfall. The attackers reportedly moved nearly $6.36 billion across at least 10 blockchains in about 20 minutes. Around $3 billion was frozen with help from law enforcement and industry partners. Binance paused withdrawals as it introduced security measures. Investigators have found no evidence so far that employee negligence or compromised private keys caused the breach. For Binance users and traders, the key issues are whether reimbursements arrive in full and on time, when withdrawals resume, and whether more assets can be recovered. The scale of the theft could weigh on confidence in Binance and the wider crypto market, while the reimbursement commitment and frozen funds may help contain the fallout.

European Central Bank Executive Board member Philip Lane says artificial intelligence is already influencing the euro area economy, though its productivity gains have yet to fully appear. Firms are expected to allocate about 10% of investment to AI in 2026, while AI-related lending accounts for roughly one-quarter of recent corporate credit growth. AI use has also expanded: 64% of firms reported using it experimentally or moderately in late 2025, and 52% of workers used AI at work in 2026, up from 26% in 2024. Europe remains behind the US and China in AI infrastructure and development. It holds about 5% of global AI computing capacity, compared with roughly 75% for the US. ECB scenarios suggest AI could add 0.3 to 0.4 percentage points to euro area productivity growth annually over the next decade, with rapid adoption potentially delivering cumulative gains above 4%. Meanwhile, global AI investment is contributing to higher long-term interest rates. Lane sees AI as a long-term growth opportunity, but one that creates near-term economic and financial challenges.

European Central Bank chief economist Philip R. Lane says AI is having little effect on euro area inflation so far. AI-linked goods, including smartphones and electronics, have relatively low weights in the consumer price basket. The ECB also sees no clear aggregate impact yet on employment, productivity or prices, despite workplace AI use rising from 26% in 2024 to 52%, and 64% of firms reporting some AI use. Lane says AI’s demand for electricity could put slight upward pressure on prices. Its more visible economic effect is through global investment and higher long-term bond yields, which tighten financial conditions and may weigh on medium-term activity and inflation. The ECB’s assessment suggests AI is not currently a reason to tighten policy further. Traders will be watching energy prices, ECB commentary, adoption data and global yields.

A reported $2.8 billion outflow from a Binance hot wallet and temporary withdrawal pauses sparked a leveraged crypto sell-off on Oct. 29–30. Binance has not confirmed any loss of customer funds. Liquidations reached an estimated $590 million to $628 million in the peak hour, with estimates for the full day ranging from $356 million to $834 million. Bitcoin fell about 5%, while Ethereum lost 6%; mid-cap altcoins were hit harder. Chainlink (LINK) dropped about 11% before recovering to around $11.04, just above its 200-day average. LINK has logged 18 consecutive days of net outflows from Binance, a sign that some holders may be moving tokens into self-custody. However, LINK remains below resistance near $12.06 and its 50-day average. Avalanche (AVAX) rebounded about 3% to $8.51 but remains below its 200-day and 50-day averages, near $9.11 and $9.35. LINK’s hold above the $11 area and AVAX’s ability to reclaim resistance are key near-term tests. Renewed selling could put LINK’s support near $9.75 and AVAX’s near $7.04 at risk.

North Korea-linked crypto hacks have involved about $9.6 billion since 2019, according to monitoring account unfolded. The reported Binance theft accounts for roughly $6.4 billion—about two-thirds of the total—with around $3 billion reportedly frozen. That figure exceeds the combined value of the next nine largest hacks, estimated at $5.4 billion. Other cited incidents include Bybit ($1.4 billion), the Ronin bridge ($624 million), Bitget ($387 million), Drift ($295 million) and Kelp DAO ($293 million). Attribution for several recent incidents, including those involving Binance, Bitget and Drift, is based mainly on security firms’ assessments and has not been confirmed by the FBI. The figures highlight the scale of North Korea-linked crypto hacks and the continuing security and attribution risks facing crypto exchanges and protocols.

Binance co-CEO He Yi said the exchange’s hot-wallet breach caused net losses of more than $3bn. She said the affected funds represent just over 2% of Binance user assets and publicly disclosed reserves. Binance has paused withdrawals as a precaution, while He Yi said user funds remain safe. The exchange plans to increase security investment and step up efforts to combat hackers. The scale of the Binance hack may weigh on confidence in the short term, even as the exchange’s reserve comparison is intended to reassure users.

Listed Bitcoin treasury companies hold about 1.3 million BTC across 180 firms, equal to roughly 6.2% of Bitcoin’s eventual supply, according to figures cited by Bitfinex. Strategy holds 848,517 BTC, around two-thirds of the total, making its ability to keep raising funds especially significant for the market. Bitfinex warns that discounts on preferred shares could weaken the financing model used to fund further Bitcoin purchases. If investor demand falls or fundraising becomes more expensive, companies could face pressure to sell Bitcoin to meet dividend obligations. Strategy’s STRC closed at $99.34 on Oct. 29, below its $100 stated value. The company plans to move STRC to daily dividend record dates from Nov. 1, a change intended to reduce price volatility around payment dates, not increase the dividend amount. Other Strategy preferred securities are scheduled to follow in 2027. Strive, which already pays daily dividends on its SATA preferred shares, raised about $630 million by selling 7 million SATS shares at $90 each. It also bought 6,182 BTC between Oct. 17 and 23, bringing its holdings to 43,000 BTC. Its cash balance was $504.4 million on Oct. 23. For Bitcoin traders, the data show continued corporate demand but also highlight how dependent some treasury purchases are on preferred-share markets. A deterioration in financing conditions could curb buying or create eventual selling pressure.

Crypto stocks fell broadly on Oct. 30, with Coinbase down 12.54% after reporting a 44% year-on-year drop in third-quarter transaction revenue. Riot Platforms, Hut 8 and Robinhood each lost more than 8%. The declines came as Bitcoin traded near $77,454, down about 5% in a market snapshot, and followed news of a Binance security breach affecting an estimated $6.3 billion in assets. Binance said it had committed more than $6.34 billion in company funds to replace affected assets, including $5 billion held in the relevant cryptocurrencies. It also reported that about $3 billion had been frozen through industry cooperation and said buybacks were underway, though thin liquidity could slow some purchases. Coinbase returned to quarterly profit, reporting net income of $718.7 million, but total revenue fell 35% year on year to $1.216 billion. Strategy was down 6.23% after recovering from its session low. The broad sell-off in crypto stocks exceeded declines in major US equity benchmarks, reflecting pressure from weaker trading revenue, the breach and a broader market downturn.

Ethereum has fallen toward $2,200 after sellers rejected it near $2,800, putting a key support zone under pressure. ETH is trading around $2,240 within a short-term descending channel, where the channel floor near $2,150 overlaps with horizontal demand at $2,200–$2,300. A sustained hold above $2,200 could support a relief bounce toward $2,400–$2,500. A confirmed daily close below that level may expose the next major support near $1,900. The Coinbase Premium Index, which compares ETH prices on Coinbase and Binance, has dropped to about -0.21—its lowest reading in more than a year, according to the analysis. The negative reading signals weak US investor demand relative to the broader market. A similarly extreme reading preceded a local low in February 2026, so it may also indicate capitulation. A recovery in the index alongside ETH’s price would help support a rebound; otherwise, weak demand and bearish chart structure could keep downside risks elevated.

A Binance-linked hacker holds 18,270 BTC worth about $1.42 billion—roughly 3.2 times the $440.7 million that US spot Bitcoin ETFs attracted from October 26 to 29. The Bitcoin has not been sold, but its potential sale adds a significant supply overhang as BTC trades near $77,300. The attacker has reportedly sold smaller tokens, including UNI, PEPE, ENA and LINK, for about $158 million in ETH. Binance says it has set aside more than $6.34 billion to cover losses, with about $3 billion in stolen funds frozen. The exchange says it is buying replacement assets, primarily altcoins. Bitcoin fell to $76,500, near its 200-day EMA at $76,465. Traders are watching resistance around $80,000–$80,581 and support at $76,465, with $74,968 a further downside level. A move of the hacker’s BTC to exchanges could intensify selling pressure. The article notes that replacement buying after the 2025 Bybit hack offered only temporary support, although broader market conditions also drove prices lower. Trader Route 2 FI remains bullish enough to buy the dip, while the potential BTC sale remains a near-term risk.

UK crypto firms have until 11:59 p.m. on February 28, 2027, to apply for authorization under the Financial Conduct Authority’s new regime. The rules take effect on October 25, 2027, and existing anti-money laundering registrations will not automatically qualify as authorization. Firms will be assessed on consumer protection and market integrity, as well as financial crime controls, and may continue operating while applications are reviewed. The deadline follows Europe’s MiCA rollout, which resulted in about 213 licensed crypto-asset service providers across the EU. Only 16 of the top 100 exchanges by trading volume obtained MiCA licenses. Executives with experience of that process warn that slow, unpredictable reviews—not just the application deadline—can pose a significant risk. UK crypto firms face capital requirements of £75,000 to £750,000, while stablecoin issuers must meet a £350,000 minimum. The FCA’s October 29 court order barring HTX from unauthorized promotions also signals that enforcement is already active.

Binance fund tracing has uncovered a possible link to a separate Bitget case. On-chain investigator ZachXBT says some funds from both cases passed through THORChain and reached the same Ethereum address: 0x15104a9ce0f08a8f0075a0869ae80e795fe0feb7. He says the overlap may point to the same actors, but the address links only part of the funds and does not confirm who was behind either incident. The report places the lead in the wider challenge of laundering stolen crypto and converting it into fiat. US authorities have said that Huione received at least $37.6 million in funds linked to North Korean thefts, including about $35 million from DMM and $2.6 million associated with Atomic Wallet, CoinsPaid and Alphapo. Separate investigations have described suspected links between payment networks, North Korean-linked actors and stolen assets from incidents including Bybit and Ronin. Tracing blockchain transfers alone cannot establish who ultimately received the money. Investigators would also need exchange and OTC records, bank data, payment logs and information on account controllers. For traders, the findings highlight ongoing cross-chain laundering risks and scrutiny of crypto-to-fiat channels, but they do not establish a new loss or prove that the Binance and Bitget cases share perpetrators.

The Federal Reserve held its federal funds rate target at 3.75% to 4% in a 10–2 vote, saying it wanted more information before deciding whether to raise rates again. The decision came as September’s Personal Consumption Expenditures (PCE) price index, the Fed’s preferred inflation measure, rose 0.5%, up from 0.3% in August. The article argues that strong nominal spending suggests the economy may still be running too hot for price stability, strengthening the case for another rate increase. The Fed’s next meeting is in December, when policymakers will have more data. For traders, the figures keep attention on inflation, interest rates and the prospect of tighter monetary policy.

Bitcoin fell below $80,000, trading around $77,182 after touching a six-week low of about $76,368. Ethereum also dropped to around $2,200. The sell-off followed news of a Binance hot-wallet hack, which the article says was estimated to affect about $6.3 billion, and reportedly coincided with roughly $1.57 billion in liquidations. Trade Nation analyst David Morrison said Bitcoin’s next key support is $75,000; a break below it could put summer lows back in view. Traders are watching whether Bitcoin can hold near that level, Ethereum’s downside, and updates on Binance’s reimbursement and withdrawal services. The episode has weakened crypto market sentiment and increased near-term volatility risk.

Binance co-CEO Richard Teng says withdrawals could resume within about 40 hours, after the exchange completes security checks following a hot-wallet breach. The attacker used EIP-7702 to obtain on-chain execution authority that bypassed normal approval controls, then used a self-destruct mechanism to destroy tools and traces. Binance says the incident involved company funds, not customer assets, most of which are held in cold wallets. The exchange has earmarked more than $6.34 billion to cover the loss; about $5 billion in matching tokens is already available, with the remainder being replenished through markets and OTC deals. Binance is also reviewing its security systems and coordinating with law enforcement and industry partners to trace and recover funds. It aims to publish an initial Proof of Reserves (PoR) verification on Monday. Traders will watch the withdrawal reopening and PoR release for signs of restored confidence.

Chinese criminal lawyer Shao Shiwei warns that promoting or selling VCC virtual credit cards, also known as U-cards, to users in mainland China may expose agents to regulatory and criminal risks. The article says overseas issuers’ licences do not make domestic marketing lawful, citing Chinese notices that classify virtual-currency-related business as illegal financial activity and prohibit related marketing and promotion services. Agents may face complaints when users’ funds are frozen or withheld, even if the agents do not handle crypto exchanges or control customer assets. Authorities could investigate alleged illegal business operations, while liability in cases involving money laundering, handling criminal proceeds or illegal use of information networks would depend on agents’ knowledge and conduct. The lawyer advises against marketing or selling U-cards to mainland Chinese users.