Crypto News

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.

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.

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.

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 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.

SpaceX is shifting its AI business towards renting computing capacity to customers including Anthropic and Google. Anthropic reportedly became SpaceX’s largest customer, contributing more than one-third of its revenue in the third quarter. The pre-market briefing also reported mixed US index futures, with the Nasdaq 100 down 2.58% and the S&P 500 down 1.06%. Oil prices rose, while spot gold and silver fell. Intel forecast server CPU shipments would grow by more than 30% in both 2026 and 2027; Amazon projected AWS growth above 40% in 2027–2028. In crypto, Binance’s hot wallet was reportedly targeted in a suspected hack. The article said more than $3 billion in assets had been frozen and that digital-token prices fell sharply. The report provided no confirmed details on the affected assets or the incident’s final losses.

The reported $6.4 billion Binance hack rattled crypto markets, overshadowing a major Hyperliquid announcement. Binance said it had reserved more than $6.34 billion to cover losses, while Tether and Circle froze about $2.39 billion in related assets. Aave paused Ethereum markets after a wallet linked to the attacker deposited USDT and borrowed WETH. Blockchain investigator ZachXBT said the stolen funds were commingled with funds from a previous Bitget exploit, pointing to a possible North Korean-linked group. Bitcoin fell below $78,000 and major cryptocurrencies declined as traders reacted to the security risk and more than $1.33 billion in positions were liquidated. The incident may increase scrutiny of exchange security and raise near-term volatility. Separately, Intercontinental Exchange plans to invest in Trade.xyz, which aims to offer regulated, round-the-clock perpetual futures on Hyperliquid in the US, pending regulatory approval. HYPE rose as much as 20% before giving back some gains, and remained up about 8% in the report. The Binance hack drove broader market weakness, while the Hyperliquid partnership offered a positive project-specific catalyst.

Tether generated about $16.4 million in revenue over 24 hours, topping DefiLlama’s daily rankings and surpassing Tron and Circle. Dashboard readings ranged from roughly $16.38 million to $16.99 million. Tether’s revenue came from interest earned on reserve assets, including US Treasury bills and repurchase agreements, rather than on-chain transaction fees. Its trailing 30-day revenue was estimated at $490 million to $522 million, implying an annualized run rate of about $5.96 billion to $6.3 billion. Circle also earns yield on reserves, but its daily revenue was lower in this snapshot. Tron recorded about $555,000 in chain revenue from user transaction fees and hosts an estimated $92 billion of USDT supply. Tether’s income benefits the issuer, not USDT holders, and depends in part on yields from short-term government debt. Tron’s revenue, meanwhile, is linked to USDT settlement activity on its network.

The Bank of Japan (BOJ) will increase annual sales of its stock exchange-traded funds (ETFs) from ¥330 billion to ¥860 billion at book value, or about $5.5 billion, starting in January 2027. The higher pace is expected to shorten the time needed to unwind its holdings from 112 years to 43 years. Based on recent transactions, the sales could represent about ¥2.46 trillion, or $15.6 billion, in market value each year. The BOJ says sales will amount to roughly 0.1% of stock-market trading value, a measured approach intended to limit pressure on Japanese equities. It may slow or pause disposals during severe market instability. The bank stopped buying ETFs in March 2024 and began gradual sales in January 2026. The decision comes amid volatility in global equities and a 2.1% Friday decline in Japan’s Nikkei 225. Separately, the BOJ held its benchmark interest rate at 1.25%, while leaving further increases possible. Finance Minister Satsuki Katayama said faster sales could raise BOJ profits and government surplus payments, though proceeds depend on market prices. For crypto traders, the main relevance is indirect: Japan’s monetary policy, yen movements and investor demand for risk assets can affect global liquidity and crypto sentiment.