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10/31
02:50
Despite Binance suffering a record $6.4 billion hack on Thursday, Bitcoin's price fell by only about 3% to $76,400 on Friday, a stark contrast to the nearly 11% drop seen in 2018 after a smaller attack on the exchange. Analysts attribute this resilience to the growing influence of U.S. spot Bitcoin ETFs, which now hold approximately 1.3 million BTC (about 6% of supply), along with a more optimistic market, increased liquidity, active long-term investors, and clearer regulatory frameworks. Binance has confirmed the attack and committed $6.34 billion to cover losses, with about $3 billion of stolen funds already frozen.
02:47
Coinbase reported a profit of $719 million in Q3, reversing a Q2 loss of $359 million, primarily driven by gains from Bitcoin investments. Revenue for the quarter was $1.216 billion, flat quarter-over-quarter but down 35% year-over-year.

The prediction market business showed strong performance, with annualized revenue exceeding $200 million and daily traders growing over 60% quarter-over-quarter, making it one of Coinbase's fastest-growing segments and accounting for approximately 25% of trading revenue. Additionally, subscription and services revenue increased 3% quarter-over-quarter to $570 million, representing 49% of net revenue.

However, its stablecoin business faced challenges: USDC average balances increased 49% year-over-year to $22 billion, but stablecoin revenue decreased 5.4% to $306.9 million, while USDC rewards expense grew 15.8% to $129.2 million. This resulted in a 16.6% decrease in net stablecoin revenue (after rewards) to $177.7 million. Coinbase also increased its investment holdings in Bitcoin and Ethereum, with the fair value of its crypto asset investment portfolio growing 51.5% to $2.22 billion, including $715 million in investment gains.
02:25
Pakistan is "cautiously optimistic" about mediating the conflict between Iran and the United States, military spokesperson Ahmed Sharif Chaudhry said on Friday. He also warned of "powerful spoilers and opponents" who could benefit from the conflict. Pakistan's Chief of Army Staff, Asim Munir, has visited Tehran twice this month, most recently on Monday, alongside Saudi and Turkish officials.
02:21
Crypto firms and law enforcement are in a "cat and mouse game" to recover over $6 billion stolen from Binance by alleged North Korea-linked hackers, who are using sophisticated obfuscation techniques and global money laundering networks to convert digital assets into fiat. So far, approximately $3 billion has been frozen by stablecoin issuers like Circle and Tether, but hackers quickly sold USDT and borrowed Ether to evade freezing. Investigators note new laundering patterns, including automated fund circulation among wallets and increased use of Chinese money laundering organizations, making recovery efforts more challenging as funds move further off-chain.
02:18
Raymond Christian Garcia and Isiah Angelo Garcia were sentenced on Thursday to 15 and 15-and-a-half years respectively by U.S. District Judge Donovan Frank in St. Paul. The brothers traveled from Texas to Grant, Minnesota, and on September 19, 2025, held a family at gunpoint for over nine hours, forcing the father to transfer more than $8 million in cryptocurrency. This case is highlighted as a clear example of a “wrench attack,” where physical force is used to seize crypto, and the sentencing signals that U.S. courts are treating such incidents as serious violent crimes.
02:15
Grayscale's report indicates that Hyperliquid generated approximately $105 million in revenue in September 2026, roughly flat year-over-year. Its revenue sources have diversified, with core trading fees decreasing from over 90% in mid-2025 to about 64%, while non-core revenues from third-party marketplaces, distribution partners, and USDC reserve yields doubled year-over-year to $38 million. Grayscale believes that regulated U.S. market access is a potential growth driver, mentioning Kraken's parent company, Payward, plans to be the first CFTC-regulated HIP-3 deployer, and ICE's collaboration with Trade[XYZ] to develop a U.S.-regulated Hyperliquid perpetual futures market.
02:07
U.S. Central Command (CENTCOM) denied Iranian claims of destroying a U.S. unmanned vessel. CENTCOM stated that all U.S. military unmanned surface vessels (USVs) in the Middle East region are accounted for, including an advanced unmanned vessel squadron patrolling the Strait of Hormuz and supporting CENTCOM's defensive layers. Previously, the Iranian Navy claimed to have destroyed an enemy unmanned vessel operating in its area in the eastern waters of the Strait of Hormuz.
02:05
Following the record $6.3 billion Binance hack, Bitcoin traded down about 4% to $77,065 on Friday afternoon, outperforming the average 8.3% drop seen in the first 24 hours after past crypto exchange exploits, according to Anchorage Digital. Analysts attribute this resilience to investors recognizing that the attack was a centralized exchange security breach, not a failure of the Bitcoin network itself. Binance has frozen approximately $3 billion in stolen funds and has a $1.2 billion Secure Asset Fund for Users (SAFU) to cover losses, with investment bank Compass Point believing the exchange has sufficient liquidity to remain solvent. However, the cryptocurrency also faces pressure from a broader sell-off in technology stocks, trading in lockstep with other risk assets.
01:57
Pakistan's military expressed cautious optimism regarding mediation efforts between the US and Iran, following a high-level diplomatic visit to Tehran. Army chief Asim Munir visited Iran twice in October, most recently with senior Saudi and Turkish officials, suggesting potential de-escalation. Pakistan also confirmed its joint defense pact with Saudi Arabia and Turkey remains open to additional members, potentially including Iran, subject to political approval.
01:50
The G20 foreign ministers' group photo was canceled after European nations refused to be pictured with Russian Foreign Minister Sergey Lavrov. The photo was originally scheduled to take place on Friday morning ET at the G20 Foreign Ministers' Meeting in Atlanta, but the U.S. hosts decided to cancel it after several European countries, including the UK, refused to pose with Lavrov. U.S. officials stated that the move was to prevent the diplomatic occasion from becoming a distraction and to focus on substantive discussions.
01:39
German Foreign Minister Johann Wadephul said that most G20 countries share the view that Iran must come to the negotiating table to resolve the war with the United States. Wadephul also called on the Houthis to cease their attacks and urged Russia to stop driving global food security towards collapse with its attacks in the Black Sea. The G20 foreign ministers' gathering began on Friday in Atlanta, Georgia, as global energy prices have rocketed since the US war on Iran.
01:39
European Central Bank (ECB) President Christine Lagarde is set to step down on February 7, 2027, leaving the European tokenized finance blueprint in limbo. Lagarde's departure was announced on October 29, the day after the Eurosystem published the Appia consultation results, which revealed a trade-off between centralized settlement liquidity and maintaining competition among networks. Appia is a Eurosystem initiative aimed at developing an integrated ecosystem for tokenized wholesale financial markets, with its architectural proposals expected by 2028.
01:35
Dallas Federal Reserve President Lorie Logan expressed support for the Fed's decision to maintain interest rates this week, but she continues to believe the Federal Reserve still needs to raise rates twice more. Logan explained that skipping a meeting does not change the ultimate goal of monetary policy, and by clarifying its objectives, the Federal Open Market Committee (FOMC) can better help the economy adapt and benefit from a pause in rate hikes. She also noted that with financial markets fluctuating due to technology investment prospects and geopolitical developments, a more gradual adjustment of policy in this environment helps households, businesses, and market participants adapt to higher interest rates and reduces the risk of an unnecessary sharp deterioration in economic activity.
01:34
Tether has released its Q3 2026 attestation report, audited by BDO, showing a net operating profit of $1.5 billion for the quarter, largely consistent with the previous quarter. Total profit for the first nine months reached $4.5 billion, primarily driven by U.S. Treasury bills and reverse repurchase agreements. As of September 30, Tether's excess reserves nearly doubled from $4.1 billion at the end of Q2 to $7.95 billion. USDT circulation is approximately $184 billion, with total reserve assets at $191.5 billion and liabilities at $183.5 billion. Total direct and indirect holdings of U.S. Treasury bills amounted to $132.4 billion.
01:34
The artificial intelligence investing sector experienced a challenging week, with the Global X Artificial Intelligence & Technology ETF falling 4% this week (8% for October) and the iShares Semiconductor ETF dropping 29% from its recent high. Major AI-linked tech stocks also saw significant declines on Friday, including Intel down 25%, Micron down 5.5%, and Nvidia down 4%. Amazon fell 2% and Google was down 1%, with Google experiencing its worst trading day ever on Thursday after reporting a drop in core advertising sales revenues and falling over 10% after earnings on Wednesday.

Market professionals are expressing concern about the AI trade, citing a deceleration in sales from frontier algorithm maker Anthropic and large tech companies pulling back on capital expenditures. Investors and traders emphasize the need for AI to demonstrate substantial profits to justify the ongoing build-out. Analysts from Cboe Global Markets, YieldMax, and Millbank Dartmoor Portsmouth suggest it may be time for investors to take profits or hedge risks, with some questioning the recent AI boom.
01:34
Binance has frozen approximately $3 billion in stolen funds, representing half of the $6.3 billion in crypto assets pilfered by North Korean hackers. The company stated that the cyberattack is considered the largest cryptocurrency theft in history, with its Co-CEO, Richard Teng, claiming the attackers used a "self-destruct mechanism" to destroy tracking traces. The U.S. Secret Service and the FBI are collaborating with Binance to recover the funds and have stated that all customer losses will be covered. Several analytics firms have linked this attack to North Korean hacking groups, noting similarities to the $1.5 billion theft from Bybit exchange in 2025.
01:31
Commercial ship attacks in the Strait of Hormuz doubled in October compared to September, with at least 30 vessels hit. However, crude oil exports through the strait averaged nearly 11.1 million bpd in October, only about 2% lower than September. This resilience is attributed to soaring freight rates, which provide a significant financial incentive for tankers, and U.S. military protection. Supertanker rates for the Gulf of Oman to Asia route surged from $249,000 per day in early September to $931,000 per day by the first week of October. Crude prices have risen over 13% this month, with Brent crude trading above $117 a barrel on Friday.

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