Crypto News

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.

A reported $6 billion Binance hack unsettled crypto markets, weighing on major tokens. Ethereum (ETH) fell 7% over the week, with $2,000 identified as a possible support level after it failed to hold resistance near $2,400. XRP lost 6% as $1.30 turned into resistance; the analysis points to $1.17 as its next support. Cardano (ADA) dropped 10% and fell below $0.20, with support near $0.17 and $0.15. Binance Coin (BNB) also declined 7% and was testing support at $690; a break lower could expose $580, while confidence in Binance remains a key factor for BNB traders. Hyperliquid’s HYPE moved higher after news that it would provide infrastructure for futures markets tied to Intercontinental Exchange (ICE), spanning crypto and other assets. HYPE rebounded to $97 but faced resistance below $100. Overall, the analysis describes a bearish near-term outlook for the four tokens affected by market turbulence, while HYPE’s momentum depends on whether it can establish $100 as support.

Binance says it has reserved more than $6.34 billion in company funds to compensate users affected by a major theft. About $5 billion is already held in the affected assets, with the remainder being purchased through market and over-the-counter trades. Withdrawals remain suspended, while deposits are open; roughly $3 billion in frozen assets is being pursued separately. The Binance compensation process and ongoing root-cause investigation remain key sources of uncertainty for crypto traders. The market was under pressure at the report time: BTC was down 3.39% and BNB 5.69%. US spot Bitcoin ETFs recorded about $441 million in net inflows over four trading days, but inflows slowed to $17.07 million on 29 October. Ether ETFs saw about $276 million in net outflows over the same period. LSK led the day’s gainers, but its token buyback is ongoing and the Lisk Chain is scheduled to close on 31 October. Traders still holding LSK on that chain face a narrow migration window. Elsewhere, TRX open interest rose 59.09% over 24 hours, while XMR open interest increased 42.22% as its price fell 2.03%. Hyperliquid weekly revenue rose 6.3%, and Aave proposed temporary interest-rate changes to ease pressure on borrowers in frozen reserves.

Intel credit default swaps (CDS) reached a record 123.5 basis points on October 30, marking the contract’s largest one-day increase since October 2022. The move followed Alphabet’s weaker-than-expected third-quarter results and renewed concern that AI-related capital spending across the tech sector may be difficult to sustain. Credit risk repricing extended beyond Intel. Broadcom’s CDS rose about 10 basis points to a record 175.4, SpaceX’s jumped roughly 20 points to a record 266.5, and Alphabet’s increased about 5.1 points to around 84. Intel’s spread had been trading between 90 and 104 basis points before the latest surge. Trading in CDS linked to major hyperscalers and chipmakers has increased more than eightfold this year, reaching $176 billion. The wider move suggests credit traders are reassessing risk across the AI supply chain, even as equity-market reactions remain mixed. Intel CDS and broader tech credit spreads are therefore indicators to watch for signs of mounting concern about AI spending and corporate risk.

AI agents are emerging as a new class of economic participants, increasing demand for blockchain-based payments, identity verification, digital ownership and markets that operate around the clock. Pantera Capital highlighted this shift at its annual summit, where founders from World, Alchemy, Ondo Finance and other companies discussed the convergence of AI and blockchain. A key announcement was Fission’s $10 million Series A, led by Pantera. The platform lets eligible investors sell certain tokenized funds and settle in USDC in about 90 seconds, addressing redemption waits that can reach roughly 200 days. Its permissioned model maintains investor eligibility and transfer restrictions. Institutional adoption also advanced. ICE agreed to operate trade[XYZ]’s regulated markets and take a strategic stake, bringing a route for Hyperliquid perpetual futures into the US. DTCC launched a tokenization service on the Canton Network and a private Besu chain, initially covering 34 eligible securities worth about $30 trillion, with 20 firms signed on. The article also reports a major security shock: an October 29 attack allegedly moved about $6.36 billion from Binance wallets across ten blockchains. Binance said roughly $3 billion had been frozen and pledged to cover user losses. Bitcoin fell below $77,000 and BNB dropped about 7% following the news. Separately, US spot bitcoin ETFs recorded $635 million in outflows on October 22, pushing October flows into negative territory. For traders, the story combines near-term security and fund-flow risks with longer-term growth in tokenized assets, regulated crypto markets and blockchain infrastructure for AI agents.

Bitcoin fell just over 2% in the 24 hours after Binance suffered an estimated $6.3 billion attack on 29 October, according to a 21Shares report. That decline was far smaller than Bitcoin’s roughly 26% drop after the FTX collapse in November 2022. The report said the incident involved a security breach at Binance, not an attack on the Bitcoin network. Binance has pledged to cover all losses. About $3 billion in stolen assets has reportedly been frozen. Its 15,000-BTC SAFU reserve, worth approximately $1.18 billion at a Bitcoin price of $78,509, could cover about 36% of the remaining unfrozen losses, with company funds covering the rest. Chainalysis said it was highly confident North Korea was behind the attack, though Binance and government agencies have not formally confirmed the attribution. 21Shares also said its physically backed ETPs and ETFs were unaffected because their assets are held in cold storage by third-party custodians, not on exchanges; all its products continued trading normally.

Analysts at StoneX and TD Cowen say Strategy’s steadier preferred-stock financing and improved liquidity could create room for renewed Bitcoin purchases and growth in Bitcoin holdings per share. Both firms maintain buy ratings, with price targets of $435 and $260, respectively. At the end of the third quarter, Strategy held $5.07 billion in dollar assets, including $4.83 billion in cash—enough to cover an estimated 3.2 to 3.4 years of preferred dividends and debt interest. The company also spent about $2 billion buying back STRC preferred shares, helping the price recover toward its $100 par value. But because funds went to cash reserves and preferred-stock support rather than Bitcoin purchases, Bitcoin held per share fell 3.7% this year. Shareholders approved daily dividend accrual for STRC from November 1 and for STRF, STRK and STRD from January 1. Management says the change aims to reduce volatility, improve liquidity and broaden demand. Better funding access could eventually help Strategy buy more Bitcoin, but no resumed purchases were confirmed.

Standard Chartered-backed Anchorpoint Financial has partnered with the Solana Foundation to bring its regulated Hong Kong dollar stablecoin, HKDAP, to Solana. The planned integration will support native HKDAP minting and redemption on the network, with potential uses including retail payments, tokenized-asset trading and other transactions requiring fast settlement. No launch date has been announced. The partnership comes as Anchorpoint prepares to expand HKDAP beyond its institutional rollout and make it available to retail users. Access currently runs through approved distributors and verified wallets. Anchorpoint also plans to work with Solana wallets, applications and corporate partners to broaden access to HKDAP. The Solana Foundation will join Anchorpoint’s Tokenised Money Adoption Programme as a strategic partner. Anchorpoint, a joint venture between Standard Chartered Bank (Hong Kong), HKT and Animoca Brands, received a Hong Kong stablecoin issuer license in April 2026. The agreement is a step towards wider use of regulated Hong Kong dollar stablecoins on public blockchains, but its market impact will depend on launch timing, adoption and transaction volumes.

Aave has reopened all V3 and V4 markets after a precautionary freeze linked to the Binance hot-wallet hack. Deposits and borrowing are available again, while withdrawals and repayments had remained open during the freeze. Aave said its contracts were unaffected and positions remain overcollateralised. However, USDT, USDC, USDT0, POL, WAVAX, sAVAX, XAUT, PAXG and OP will temporarily remain at a loan-to-value (LTV) ratio of zero. These assets cannot be used as collateral for new borrowing, limiting some stablecoin-backed and leveraged strategies. Binance confirmed the hot-wallet incident and said it would cover losses with company funds and its SAFU fund. The move restores access to Aave markets but keeps tighter collateral controls in place as the incident is assessed.

Binance says the reported $6.3 billion hack involved funds in its own hot wallets, not customer assets. A company spokesperson told Fox Business reporter Eleanor Terrett that most customer holdings are kept in cold wallets and moved to hot wallets only when withdrawals are needed. The spokesperson said Binance can absorb the loss with its own funds. CEO Richard Teng had earlier said the company and its SAFU fund would cover the loss. He estimated the impact at about $6.3 billion, with roughly $3 billion frozen on-chain. Binance’s initial investigation pointed to a possible compromise of a DevOps engineer’s laptop, while the company said it had found no evidence that wallet private keys were exposed. The statements seek to reassure users about Binance’s reserves and the security of customer funds. The incident nevertheless raises questions about exchange hot-wallet controls and operational security.

EIP-7702, an Ethereum upgrade activated in May 2025, lets standard wallets temporarily run smart-contract code. It enables transaction batching, gas sponsorship and limited-permission keys, but delegated code can access the wallet’s funds. On October 29, 2026, attackers stole about $6.4 billion from Binance wallets across 10 blockchains. TRM Labs and Chainalysis attributed the theft to TraderTraitor, a North Korean hacking group. On Ethereum, the attacker reportedly used 50 pre-signed EIP-7702 authorizations to turn a Binance hot wallet into a sweeper and transfer assets to attacker-controlled addresses. The incident does not indicate a flaw in Ethereum itself: EIP-7702 requires a valid authorization signature from the account owner. Binance said its investigation found a compromised engineer’s laptop and additional breach points. The episode highlights the security risks of EIP-7702 delegation and the importance of protecting exchange wallet-signing systems.

Grayscale’s Head of Onchain Asset Management, Sebastian Pulido, says the tokenized real-world asset (RWA) sector will be judged less by the number of assets issued and more by their practical use by 2030. He points to reliable pricing, liquidity and acceptance as collateral as key measures of progress. Onchain RWAs reached $39.3 billion in late October 2026, up more than 80% since January, with major issuers including BlackRock and Apollo contributing to growth. Some tokenized money-market funds are already accepted as margin, allowing traders to use fund shares as collateral while retaining their yield. Pulido expects stablecoin settlement and improved trading and collateral systems to support broader adoption. Over the longer term, he sees more assets being issued natively onchain, with transparent, frequently updated data informing credit assessments. For traders, the key indicators will be whether tokenized assets gain deeper liquidity, reliable pricing and wider acceptance by exchanges and lenders—not just whether the tokenized asset market grows.

Bitcoin is under pressure after Binance halted withdrawals following a reported security breach estimated to have caused $6.3 billion in losses. The exchange said it will cover user losses, and co-founder Yi He said withdrawals could resume within 48 hours. Crypto firms have reportedly frozen about $3 billion of the stolen funds. Bitcoin fell about 2.8% on Friday to around $78,490, while Ether and BNB also declined. HYPE rose about 17%. Bitcoin is trading below its 50-day moving average near $81,000, while its 200-day average around $76,000 is the key support level. A close below $76,000 could expose support near $65,000; reclaiming the $80,000–$82,000 area would improve the technical outlook. RSI and MACD readings still point to weak momentum, leaving the market cautiously bearish as traders watch Binance’s withdrawal timeline.

Bitcoin ETF flows have shifted from “highly negative” to “strong accumulation,” according to Tyler Evans, who discussed the trend on Bitcoin Magazine TV. The interview presents renewed ETF demand as a sign of institutional buying, while noting that the market’s next move remains uncertain. Evans also discussed the Federal Reserve, bond-market conditions and JPMorgan’s description of Bitcoin as its best-performing asset class. Other topics included Bitcoin’s competition with the AI trade, custody risks for Bitcoin treasury companies, and the potential impact of U.S. midterm elections on the outlook through 2027. The conversation also touched on whether Bitcoin can regain its 50-week moving average. The ETF-flow shift is the main near-term trading signal in the discussion. However, the article gives no flow figures or time period, so traders should treat the characterization as commentary rather than a quantified market report. ETF demand, macroeconomic conditions and Bitcoin’s price relative to key technical levels remain important factors to monitor.

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.

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.