Key News Overnight and This Morning (Nov. 2 – Nov. 3)
b14g: Core network recovers about 68.15 million stolen CORE via hard fork, not yet distributed to users
Bitcoin dual-staking protocol b14g released a recovery update saying the Core network today executed a hard fork, moving and recovering 68,146,177.22 CORE from three attacker-controlled addresses through a one-time on-chain state adjustment, about 70.2% of the 97,045,563 CORE affected in the Oct. 31 incident. The operation did not roll back transactions, mint new tokens or change CORE's total supply. The recovered tokens have not yet been distributed to affected users, and related funds held or frozen by exchanges have not yet been returned. b14g said it is still reconciling balances and drawing up a distribution plan, and there is currently no official claims process.
SpaceX in talks to acquire Boost Mobile or use its network
According to The Washington Post: SpaceX (SPCX.O) is in talks to acquire Boost Mobile or to use its network. The deal could result in SpaceX acquiring Boost Mobile, or give it access to Boost Mobile's network, which Boost Mobile currently leases from AT&T and T-Mobile US.
Bitbase announces brand upgrade to 2.0, with new brand identity launched
Digital asset trading platform Bitbase (币贝) officially upgraded to Bitbase 2.0 today, with its brand proposition updated to "focusing on value amid change." The new brand logo and visual identity system have been rolled out simultaneously on the Bitbase app, official website and official social media accounts. According to the announcement, this upgrade starts with the brand and will later extend to product experience and user participation, with specific arrangements subject to follow-up official announcements.
Trump: If the Democrats win, I will become "Mr. Veto"
US President Trump: If we lose the House, the Senate and the presidency, our country is finished. He also praised Secretary of State Rubio as a very outstanding and highly sought-after political figure. The same goes for US Vice President Vance. If the Democrats win, I will become "Mr. Veto."
The 3 addresses that sent about $4 million to Binance deposit addresses may be Thorchain treasury addresses
The Binance hacker transferred about $4 million to 3 Binance deposit addresses. Arkham believes these addresses may belong to nested services, i.e., third-party exchanges that use Binance for liquidity and custody.
SomaXBT subsequently replied: Arkham mistakenly flagged Thorchain treasury addresses as the Binance hacker, and the related funds were not deposited into Binance.
21shares: Bitcoin rose 42.7% in Q3 2026, spot ETFs replaced public companies as the main buyers
The Q3 2026 Bitcoin market report released by 21shares shows that Bitcoin rose 42.7% in the third quarter. In terms of demand structure, US spot Bitcoin ETFs added 79,800 BTC net, worth about $6.2 billion, nearly twice the 41,300 BTC of newly mined supply in the same period, replacing Bitcoin treasury companies as the market's main source of demand. By comparison, purchases by Bitcoin treasury companies fell from $7.1 billion in the second quarter to about $1 billion in the third quarter.
Meanwhile, long-term holders sold 248,000 BTC in the third quarter, worth about $17.4 billion, nearly three times the ETF net purchases in the same period. On the miner side, miner revenue in September 2026 exceeded estimated total mining costs by 6%, ending a prior run of 10 consecutive months below the break-even line. BTC transaction fees covered only 0.67% of the Bitcoin network's $2.96 billion security cost in the third quarter; at September 2026 prices and network hash rate levels, block reward revenue after the 2028 halving is expected to cover only 80% of miners' electricity costs.
PBOC and two other departments: relending for stock buybacks and increased holdings becomes a long-term institutional arrangement, rate cut to 1%
The People's Bank of China, the National Financial Regulatory Administration and the China Securities Regulatory Commission held a symposium on the two tools supporting the capital market, announcing that the relending facility for stock buybacks and increased holdings will shift from a phased arrangement to a long-term institutional arrangement, with the relending rate cut from 1.25% to 1%. The swap facility for securities, fund and insurance companies will be operated at an appropriate time, with the number of participating institutions increased and swap fees appropriately lowered. The two tools were launched in October 2024; currently the swap facility balance stands at 105 billion yuan, signed stock buyback and increased-holding loans total about 440 billion yuan, with cumulative disbursements exceeding 280 billion yuan.
ZachXBT: An EU entity suspected of losing more than $106 million from multiple exchange accounts
On-chain sleuth ZachXBT posted a community alert on his Telegram channel saying an EU entity is suspected of losing more than $106 million from multiple centralized exchange accounts on Nov. 1, with the allegedly stolen funds withdrawn by perpetrators in USDC and USDT. Over the past 24 hours, the perpetrator has been swapping large amounts of USDC into ETH, sending it to instant exchange platforms such as WellWallet and Kyrrex, swapping it into XMR through Wagyu, and moving it across multiple chains. ZachXBT also published 11 addresses involved.
Lumentum briefly extended gains to 4.2% after pre-market trading resumed, now turns lower
Binance market data shows that after pre-market trading in Lumentum (LITE.O) resumed, its gains briefly widened to 4.2% and have now turned into losses. Marvell Technology (MRVL.O) will acquire Lumentum in a $115 billion all-stock deal, betting on the AI data center sector.
Binance: ZK proof for Oct. 31 reserve snapshot generated, asset backfill reaches 95%
The zero-knowledge proof (ZK Proof) for its Oct. 31, 2026 00:00 (UTC) proof-of-reserves (PoR) snapshot has been fully generated. Users holding BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC can use Binance's PoR verification tool to check whether their balances are backed by reserves of at least 1:1. Binance said about 95% of assets affected by this security incident have been backfilled, with the remaining roughly 5% being relatively illiquid tokens outside the top ten, which will take longer to buy back. Binance plans a new snapshot covering more tokens on Nov. 4, with the full zero-knowledge proof expected to take about 40 to 50 hours to generate; it also plans to resume withdrawals for more networks and assets in stages starting tomorrow. Binance reiterated that losses from the stolen funds will be borne by Binance rather than users.
Strategy bought 811 Bitcoin last week and repurchased $208 million of STRC
According to an 8-K filing Strategy submitted to the US SEC, between Oct. 26 and Nov. 1, Strategy bought 811 Bitcoin for about $65.5 million at an average price of about $80,846 per coin; as of Nov. 1, it held a total of 849,327 Bitcoin at a total cost of about $64.08 billion, or an average of about $75,451 per coin. In the same period, Strategy sold 1,178,552 MSTR common shares through its ATM, raising $164 million net, of which $65.5 million was used to buy coins and the remaining $98.5 million was booked as USD Cash. In addition, Strategy used $208.2 million of USD Cash to repurchase 2,092,035 STRC preferred shares, and spent $43.4 million from its USD Reserve to pay preferred dividends. As of Nov. 1, USD Reserve and USD Cash balances were $4.79 billion and $132.7 million, respectively.
Strive adds 124 Bitcoin, total holdings reach 43,124
Strive (ASST) added 124 Bitcoin for about $10 million at an average cost of $80,526 per coin, and now holds a total of 43,124 Bitcoin. Most of the funds for this purchase came from the company's existing cash. Strive raised money through SATS's at-the-market (ATM) program for the first time, with all ATM fundraising this week coming from SATS. The company's Amplification Ratio currently stands at 62.7%.
OKX releases 49th PoR and reaches four-year milestone, reserve assets for four major coins worth about $27.8 billion
OKX officially released its 49th proof-of-reserves (PoR) report, reaching the milestone of four consecutive years of publication. Data for this period shows that reserve ratios for more than 20 major coins disclosed by OKX all reached 100%. Among them, reserve ratios for BTC, ETH, USDT and USDC were 108%, 101%, 106% and 100%, respectively, with the four combined holding reserve assets worth about $27.8 billion.
It is understood that since first publishing proof of reserves in November 2022, OKX has consistently published PoR monthly, expanding the number of disclosed coins from 3 initially to more than 20, and has successively introduced technologies such as Merkle trees, full-view Merkle trees and zk-STARK zero-knowledge proofs, continuously upgrading its reserve verification system and enabling users to independently verify asset reserves to enhance asset transparency.
Li Jiaqi livestream sells 100,000 Qwen Office monthly cards in half an hour, equivalent to about 2 trillion tokens
On the evening of Nov. 2, Qwen Office Tokens were listed in Li Jiaqi's livestream, and 100,000 Qwen Office individual membership monthly cards were sold within half an hour of going on sale, totaling about 2 trillion tokens. Qwen Office CEO Chen Yusen appeared in the livestream that evening and introduced everyday use cases for AI-powered office work. He said AI cannot replace Li Jiaqi, and that he hopes to help fans use AI for chores so they can get off work on time, spend time with their pets and take care of their families.
BitMine adds 8,573 ETH last week, total holdings reach 6.06 million
BitMine (BMNR) announced it added 8,573 ETH last week. As of Nov. 1, its ETH holdings reached 6,060,506, about 4.9% of total ETH supply. BitMine's crypto assets, cash and marketable securities and other investments total about $14.5 billion, including $498 million in cash and marketable securities, 216 BTC, $180 million of equity in Beast Industries and $82 million of equity in Eightco Holdings (ORBS). In addition, it has staked 5,227,037 ETH, or 86% of its holdings, worth about $11.8 billion at $2,261 per coin. Based on the current staked amount, annualized staking revenue is about $358 million.
Brazilian crypto exchange Mercado Bitcoin confirms security incident, has suspended deposits and withdrawals
Brazilian crypto exchange Mercado Bitcoin confirmed a security incident and has temporarily suspended deposits and withdrawals, saying customers were not affected. Separately, Brazilian local media BitNotícias reported that blockchain security firm Hypernative had previously found more than $40 million in suspicious transfers across multiple networks.
Crypto high-frequency trading firm LO:TECH closes $12 million Series A, plans to expand into New York and Singapore
London high-frequency trading and market maker LO:TECH closed a $12 million Series A round led by MMC, with participation from Faction, 13 Books Capital and new investor Atka. The company plans to use the funding to expand into the New York and Singapore markets and to further build out trade execution services for traditional finance, digital assets and prediction markets.
LO:TECH was founded by Tim Meggs, Marcus Horsley and Alex Williams and focuses on high-frequency trading and liquidity provision, capable of executing tens of thousands of trades per second. Its business covers proprietary trading, market data distribution and trading technology services, and it has obtained a Kalshi data distributor license.
Tokenization infrastructure firm tZERO to list via SPAC merger at $350 million valuation
Tokenization infrastructure company tZERO announced it has signed a definitive business combination agreement with Nasdaq-listed SPAC FG Imperii Acquisition Corp. (FGII), valuing tZERO's pre-money equity at $350 million, of which up to $25 million is contingent on achieving specific milestones. Shares of the combined company are expected to list on NYSE American under the ticker "TZRO." The combined company could receive up to about $231 million in cash held in FG Imperii's trust account, depending on public shareholder redemptions. Both boards have unanimously approved the transaction, which is expected to close in early 2027. tZERO said that beyond an exchange listing it will also explore on-chain trading, custody and other paths. Previously, ICE, the parent of the NYSE, had invested in tZERO.
SomaXBT: Arkham mistakenly flagged Thorchain treasury addresses as the Binance hacker; funds were not deposited into Binance
Arkham previously posted that the Binance hacker deposited about $4 million into 3 Binance deposit addresses, and speculated these addresses may belong to third-party trading platforms that use Binance for liquidity and custody services. In response, SomaXBT said Arkham misidentified Thorchain Asgard Vault addresses as Binance hacker addresses; the Binance deposits were actually paid by Thorchain accounts, and it was not the Binance hacker depositing funds into Binance. SomaXBT also published two related Thorchain account addresses.
Anthropic posts $17 billion in Q3 revenue, $23.3 billion net loss
Anthropic filed an amended S-1 with the US SEC, adding disclosure of third-quarter financial data. Revenue for the quarter was about $17 billion, with a net loss of $23.29 billion. Revenue for the first three quarters was $33.24 billion, up about 1,200% year over year. The net loss over the same period was $104 billion, mainly from fair value changes in convertible notes and derivative liabilities. The filing shows Anthropic has signed purchase commitments and lease agreements totaling about $895.4 billion, almost all of it for compute and infrastructure. Compute and infrastructure expenses for the first three quarters rose by $14.4 billion year over year, an increase of 329%.
Anthropic: Claude is not expected to be used in fully autonomous mode; future frontier models will require human oversight
According to Jinshi Data, as of Sept. 30, Anthropic had $95.6 billion in cash. Anthropic's third-quarter personnel costs were $1.71 billion, compared with $489 million a year earlier. Anthropic also said its decisions may run counter to investor expectations. Anthropic reiterated: it is committed to keeping Claude ad-free. Claude is not expected to be used in fully autonomous mode. The third-quarter operating loss was driven by $5 billion in short-term compute investment. Future frontier models will require human oversight.
Tether freezes over 4.5 million USDT tied to Brazilian exchange Mercado Bitcoin security incident
Tether CEO Paolo Ardoino posted that Tether has frozen more than 4.5 million USDT related to the Mercado Bitcoin security incident. Earlier, Brazilian crypto exchange Mercado Bitcoin issued an official statement disclosing that a security incident occurred in its systems in the morning that day and has now been identified and contained. Mercado Bitcoin said customers suffered no losses and no data breach occurred. As a precautionary measure, the platform has suspended deposit and withdrawal services and is investigating the incident, tracing assets and coordinating with relevant authorities.
Tether burns 2 billion USDT on Ethereum
At 22:57, Tether Treasury burned 2 billion USDT on the Ethereum chain.
Kalshi and Polymarket prediction market traders hit the streets to survey US voters, competing for an information edge on the midterms
As the US midterm elections approach, a group of veteran traders on Kalshi and Polymarket has begun seeking a trading edge through on-the-ground street canvassing and voter data analysis. Among them: Douglas Campbell, a former Democratic National Committee (DNC) economics professor and election model analyst who goes by the username AlexanderHam on Kalshi, has accumulated more than $800,000 in profit and is the platform's sixth most profitable election trader; another trader, David Bensoussan, is mainly active on Polymarket, where under the username Scottilicious he has accumulated more than $1.5 million in profit, and his position of more than $280,000 bets on Democrats winning the House, an outcome whose market probability has now risen to about 94%.
Analysts say some traders' pursuit of an information edge through field research has raised concerns about information asymmetry and insider trading, and Polymarket this week opened an investigation into suspicious trades during Israel's election.
Goldman Sachs restricts traders' and bankers' use of some advanced AI tools
After assessing productivity and risk, Goldman Sachs barred most employees from using advanced AI tools designed for coding, a move that drew complaints from some. For months, Goldman had allowed bankers to use Anthropic PBC's Claude Code and Microsoft's GitHub at work. Now it will limit these tools to engineers only. A person familiar with the matter said the ban frustrated some traders, who had used the tools to speed up part of their work, such as monitoring client trading flows, modeling market changes and positions, and producing text and graphic content.
NYSE brings in Wall Street giant Broadridge to provide on-chain shareholder voting for tokenized stocks
The New York Stock Exchange (NYSE) announced a partnership with Wall Street financial services giant Broadridge Financial Solutions to provide on-chain governance and digital transfer agent services for its planned tokenized stock trading platform, covering shareholder record management, investor communications and proxy voting. Investors will in future be able to take part in shareholder votes through supported wallets, brokerage platforms or Broadridge's existing ProxyVote service.
Broadridge will help tokenized stocks retain traditional market shareholder rights while trading on-chain. The company currently serves more than 10,000 listed companies worldwide and processes settlement of more than $15 trillion in securities trades daily. Previously, Securitize and tZERO were also included in the transfer agent service lineup for the NYSE's tokenization platform.
SBI Holdings to invest $100 million in Erebor Bank to build out US digital banking
Japanese financial giant SBI Holdings announced it will invest $100 million in US digital bank Erebor Bank through its US subsidiary SBI Holdings USA. Erebor mainly serves companies in defense tech, AI, energy, robotics and advanced manufacturing, and supports stablecoin deposits and withdrawals plus blockchain-based round-the-clock settlement. SBI said the investment aims to strengthen its US business base and deepen its understanding of next-generation digital banking, and that it will explore opportunities for broader cooperation with Erebor in the future.
Erebor was co-founded in 2025 by Anduril Industries co-founders Palmer Luckey and Owen Rapaport and others, has obtained a bank charter from the US Office of the Comptroller of the Currency (OCC) and deposit insurance eligibility from the US Federal Deposit Insurance Corporation (FDIC), and opened in February 2026. As of September 2026, the bank's deposits had exceeded $7 billion.
The US midterm elections reach official voting day today
Today (Nov. 3), the US midterm elections reach official voting day. As of Oct. 31 local time, a record 50 million people had already voted early. The election is seen as Americans' scorecard on the Trump administration's performance over nearly two years in office, and will also affect the balance of power between Republicans and Democrats in Congress over the next two years, as well as their influence in the states.
Binance reportedly raises rebate incentives for some market makers after the hack
People familiar with the matter said that after suffering a theft of about $6.3 billion, Binance contacted smaller market makers and raised their rebate incentives in spot and futures markets. During a one-week promotion, tier-2 and tier-3 market makers will receive the same rebate rates as the top-tier tier-4 market makers, aiming to encourage smaller liquidity providers to quote and maintain deeper order books. A Binance spokesperson said, "Just as we value clear communication, we are taking immediate steps to protect our core strength: liquidity."
DeepSeek launches "Creator Mode" for Harness, letting users turn ideas into plugins
DeepSeek Harness posted on X that it has launched Creator Mode (创造模式), which lets users turn ideas into directly usable plugins; examples shown by the company include design workspaces, sandbox games and 3D LLM visualization tools. According to Bloomberg, the move is aimed at strengthening DeepSeek's AI Agent products. DeepSeek Harness is an open-source Agent tool released by DeepSeek, and DeepSeek had previously optimized its V4.1-Flash model for Harness. In addition, the official DeepSeek Harness account has joined Bilibili and posted its first video demonstrating the feature.
Circle mints 1 billion USDC on Solana in 10 minutes
Between 02:12 and 02:22 (UTC+8), USDC Treasury minted a total of 1 billion USDC on Solana in 4 batches of 250 million each. Solscan data shows the receiving address is a Circle-controlled USDC Treasury token account, which currently holds about 1.756 billion USDC.
Crypto.com to shut down Hong Kong consumer app in February next year
Crypto.com will shut down its Hong Kong consumer app on Feb. 1, 2027. Affected users have been notified in advance, and the company will provide guidance on closing accounts and help users withdraw funds in an orderly manner. A Crypto.com spokesperson said the move aims to optimize global operations and direct resources toward markets with more sustainable long-term opportunities. The closure does not affect its application via Foris DAX HK Limited for a Hong Kong virtual asset trading platform license, which targets the institutional-focused Crypto.com Exchange platform and remains pending approval by the Hong Kong Securities and Futures Commission.
US state of New Jersey withdraws lawsuit against Coinbase's staking business
Molly Abraham, a member of Coinbase's legal team, posted on X that the US state of New Jersey has formally withdrawn its lawsuit against Coinbase's staking business and lifted a previously issued cease-and-desist order, so users in New Jersey will be able to resume using staking services after a pause of more than three years. Abraham said Wisconsin, Maryland, California and Washington state are next targets. Coinbase CEO Brian Armstrong reposted, saying New Jersey users will soon be able to stake again.
US SEC adds crypto asset FAQ: broad governance participants generally do not constitute a centralized entity
According to the US Securities and Exchange Commission (SEC) website, the SEC's Division of Corporation Finance updated its crypto asset frequently asked questions (FAQ) on Nov. 2, adding 3 answers related to crypto asset classification. It said that participants in the broad governance system of a functional crypto system, if they are not affiliated with one another and have no agreement, arrangement or understanding to act in concert, generally will not be regarded as a "centralized entity," and the conclusion is the same when the governance system belongs to an organization, association or foundation. The FAQ also said that a centralized entity's "supervisory participation" means it has the power to control access to the crypto system at the protocol, validator or user level, such as unilaterally admitting or restricting access, or deciding or changing the voting process for software upgrades; "functional" and "decentralized" are two different concepts. The above FAQ represents only the views of SEC staff and has no legal force.
North Korea denies involvement in the Binance hack, calling the allegations "fabrication"
North Korea's official media KCNA said claims that North Korea was behind the roughly $6.3 billion Binance theft are a "fabrication." Previously, the US Federal Bureau of Investigation (FBI) had attributed the attack to North Korea, and blockchain analytics firms including Chainalysis and TRM Labs also attributed it to North Korea-linked hacking group TraderTraitor.
Mercado Bitcoin says it has frozen $11 million of stolen assets
Brazilian crypto exchange Mercado Bitcoin posted on X that the security incident currently involves assets worth about $38 million, and that it has worked with partners including Tether, Circle, Paxos, BRL1 and Chainalysis to freeze $11 million, with other freezable funds identified and handling still ongoing. The exchange reiterated that users will not suffer asset losses from this security incident, and that the timing of service restoration will be announced only through official channels.
Ethereum L2 network Lisk Chain shut down on Nov. 2; new Lisk pivots to an enterprise finance platform
According to an official blog post, Ethereum L2 network Lisk announced that Lisk Chain shut down on Nov. 2, 2026, marking the formal end of Lisk Chain and the start of a new Lisk — a modern finance platform for enterprises. LSK will continue to serve as Lisk's loyalty token, running on Ethereum.
Lisk Chain was shut down in stages, with user services stopped first, including Lisk Portal and Lisk Bridge. After the shutdown, about 5.2 million LSK remaining in the staking rewards contract will be burned, including unallocated and earned-but-unclaimed rewards, further reducing total supply after the 100 million LSK burned in September. The new Lisk is positioned as a modern finance platform for enterprises, integrating accounts, payments and approvals into one workspace and supporting fiat and stablecoins in more than 100 countries. LSK's total supply is 300 million with 0% inflation, and starting in 2027 enterprises will earn and use LSK on Lisk.
VanEck executive: Citi originally planned to launch institutional Bitcoin custody last week, may be delayed by Binance hack
Matthew Sigel, head of digital asset research at VanEck, said Citi Wealth published a report titled "Broadening the Investable Range: A Crypto ETF Primer," pitching spot BTC and ETH ETFs to suitable clients as a way to allocate digital assets alongside stocks and bonds through regulated brokerage accounts. In addition, Citi said on Aug. 18 that its new Custody+ platform will begin holding Bitcoin for institutional clients this year.
Sigel calculated that this would make Citi the sixth of 29 global systemically important banks to have launched or announced institutional Bitcoin custody, after BNY, Standard Chartered, Societe Generale, State Street and Deutsche Bank. BNY, Standard Chartered and SG-Forge have obtained licenses and serve institutions, Deutsche Bank says it will launch within weeks, and JPMorgan says it is not offering custody for now. Sigel said last week's Binance hack may be one reason Citi has not announced a date, and he heard the service had been scheduled to go live last week.
Solflare: Now in a heightened security posture, closing off infrastructure and code access and tightening change approvals
Vidor, co-founder of Solana ecosystem wallet Solflare, said Solflare has entered a heightened security posture. After what the industry has just been through this month, access to the company's infrastructure and code has been closed, all changes require multiple approvals, and nothing new is allowed in. Vidor said this will slow work down, but he is fine with that.
Liquid: Network Bitcoin reserves fully restored, all LBTC again backed 1:1 by BTC
The Liquid Federation announced that the network's Bitcoin reserves have been fully restored and all LBTC is once again backed 1:1 by BTC. For several weeks prior, BTC and LBTC redemptions had already resumed, allowing users to move between Bitcoin and Liquid at a 1:1 ratio through participating providers. Liquid said these milestones mark important progress in the recovery effort.
Liquid said the network's Bitcoin reserves can be independently verified: users running a Liquid node can verify the proof of reserves directly, and reserve balances and network activity can be monitored through the official public dashboard. Going forward, the Liquid Federation will modernize its governance structure, clarify responsibilities and oversight, and implement more technical and operational safeguards.
Tom Lee: The AI stock selloff may have bottomed; crypto's reaction to the Binance incident suggests most selling may be over
Tom Lee, co-founder of Fundstrat and chairman of Bitmine, said the AI stock selloff has hit a bottom. He believes AI market demand remains supply-constrained rather than reflecting overcapacity, and that spending limits may slow growth but do not mean the AI boom has peaked. "I think we're at a bottom," Lee said in a CNBC interview. He also acknowledged that bottoms are hard to call, because it is unclear how much further downside remains.
Lee also cited the crypto market's reaction to the Binance incident as evidence. He believes that if crypto is a leading indicator of risk appetite, the market has already absorbed a lot of selling and there may not be many sellers left. Market data shows Bitcoin fell about 4% that day to around $76,400, US spot Bitcoin ETFs saw net outflows of $643.2 million, the largest single-day outflow in October, and more than $1.3 billion of leveraged positions were forcibly liquidated. Previously, Binance had estimated the incident's impact at about $6.3 billion, said it had frozen about $3 billion of affected assets, and said it would absorb the losses with its emergency reserve and corporate funds.
Fidelity Digital Assets moves 1,722 BTC to new wallets, about $132 million
Fidelity Digital Assets moved 1,722 BTC (about $132.1 million) to multiple new wallets in the past hour.
Wintermute: Market still looks weak in the short term after Binance incident, $76,800 is the next key support
In its latest market report, crypto market maker Wintermute noted that last week's market direction was set mainly by the Binance hack rather than by the Fed and PCE data. Binance lost about $6.3 billion on Oct. 29, reportedly linked to North Korea-related TraderTraitor, and about $3 billion has been frozen. Liquidations after the incident reached $1.5 billion, of which about 85% were longs. Wintermute believes the dip-buying after this decline came mainly from leveraged perpetual contracts, lacking support from spot buying and new capital, so the market still looks weak in the short term.
Wintermute said Bitcoin has broken below the key $80,000 level, and viewed from around $78,000, the next support is the 50-week moving average at about $76,800. Short-term caution would only end if Bitcoin reclaims and holds $80,000 with buying coming from spot and ETF flows; a break below the 50-week moving average would make the firm more bearish.
NEAR governance vote passes, plans to cut maximum annual issuance rate to 1.6% within 24 months
NEAR Protocol posted on X that its on-chain governance body House of Stake has voted to cut NEAR's maximum annual issuance rate from 2.5% to 1.6%, implemented in stages over 24 months. NEAR said token holders decided a core parameter through a public vote, and the new rate will roll out epoch by epoch according to a published schedule, meaning lower long-term issuance and a supply schedule anyone can verify.
Next steps include: the House of Stake security committee reviews the result before approval; after approval there is a grace period of about 90 days; validators adopt the change through a protocol upgrade and make it binding; token issuance then declines step by step each epoch, reaching 1.6% in month 24; and quarterly reports will track whether actual issuance matches the plan.
Bitmine accumulates 5,000 ETH from Kraken, about $11.37 million
In the early hours of today, Bitmine accumulated 5,000 ETH (about $11.37 million) from Kraken, and now holds 4.9% of Ethereum's total supply.
Analysis: Total stablecoin market cap has fallen for more than a month, $6.9 billion flowed out in the past month
CryptoQuant analyst CW8900 noted in a post that total stablecoin market cap has been trending down for more than a month. Total stablecoin market cap was $270.3 billion on Oct. 1 and has fallen to $263.4 billion amid continued net outflows. Over the past month, a total of $6.9 billion of stablecoins flowed out of the market. CW8900 said bull trends usually emerge when capital flows in, whereas the past month saw continued outflows and Bitcoin is in a bearish phase. For a rebound to occur, stablecoins must flow back into the market; once stablecoin flows turn to net inflows, the market may rebound.
Wintermute holds $101 million short position on Hyperliquid, with $3.35 million in unrealized profit
Wintermute previously warned that BTC could fall further if it broke below the $76,800 support level, while holding a $101.33 million short position on Hyperliquid with $3.35 million in unrealized profit and $220.24 million in all-time profit and loss.
Tether CEO: Company holds about 150,000 Bitcoin, more than 730 million users worldwide
Speaking at the Plan ₿ Forum in Lugano, Tether CEO Paolo Ardoino disclosed that Tether holds about 150,000 Bitcoin, has more than 730 million users worldwide and adds about 30 million wallets per quarter. Ardoino also described the company's open-source infrastructure progress in energy, communications and AI: it has invested in about 5,000 solar and battery kiosks in Africa serving 2 million users, with plans to expand to 100,000 within five years; its efforts also include a Bitcoin mining framework, peer-to-peer communication layer Holepunch, WDK for self-custodial wallets, and QVAC, a small AI model that can run on a phone.
Tether's previously disclosed third-quarter report showed it holds $122.8 billion of US short-term Treasury bills, with net operating profit of $1.5 billion and excess reserves rising to $7.95 billion.
Arthur Hayes: Dollar liquidity is rebuilding; expects BTC to weaken before the Fed or banks expand balance sheets
Arthur Hayes posted on X that dollar liquidity is rebuilding. He expects Bitcoin to perform weakly until the Federal Reserve and/or banks begin expanding their balance sheets.