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10/31
04:00
Binance, the world's largest cryptocurrency exchange, has pledged to cover the $6.3 billion in client assets affected by a recent security breach, stating it has set aside over $6.3 billion of its own funds for this purpose. Approximately $3 billion of the stolen assets have already been frozen on blockchain networks. The exchange's initial investigation suggests hackers gained access to its withdrawal systems to make unauthorized transfers, but found no evidence of private key leaks. The incident highlights the risks of trusting exchanges with digital assets, with experts advising investors to research exchange regulations and consider self-custody for long-term holdings.
03:55
Binance stated that it expects to resume withdrawal services within 48 hours, and Bitcoin deposits remain open. The exchange estimates the total impact of this security incident to be approximately $6 billion and has frozen about $3 billion of affected assets by working with blockchain partners. Binance pledged to cover the losses using its SAFU fund and company funds, and will release an updated Proof of Reserves after the fix.
03:53
The UK Maritime Trade Operations (UKMTO) reported that a vessel was struck by an unknown projectile 40 nautical miles south of Iran's Lavan Island, causing a fire on board. UKMTO stated that all crew members are safe and there was no immediate environmental impact.
03:49
Premiums for Affordable Care Act (ACA) plans are projected to rise by 13% in 2027. This marks the second consecutive year of double-digit increases in a market already facing declining enrollment.
03:47
A drone launched by the Houthi militia was intercepted and destroyed over Medina province, a spokesperson for the Saudi-led coalition said. The coalition had earlier reported shooting down a ballistic missile and a drone over Riyadh and southern provinces.
03:40
The U.S. Securities and Exchange Commission (SEC) has issued exemptive relief for certain inter-affiliate and non-U.S. repo transactions from Treasury clearing requirements. This move aims to assist broker-dealers and other market participants in achieving central clearing of U.S. Treasury securities.
03:32
Reddit's stock price plummeted 30.44% to $90.15 on Friday, bringing its weekly decline to 44%, after its CEO warned that Google's AI search features were reducing referral traffic. CEO Steve Huffman stated that Google's AI search features are decreasing referral traffic and could lead to a shrinking user base for the platform. The company's strong third-quarter revenue and earnings performance were overshadowed by a weaker-than-expected fourth-quarter revenue forecast and slowing user growth, further exacerbating investor concerns. Huffman noted that Google search referral traffic decreased by an average of over 1 million per week in October, and this downward trend accelerated towards the end of the third quarter. He believes that Google's AI Overviews and AI models directly generate answers and summaries within search results, allowing users to obtain information without clicking through to the Reddit platform, which puts pressure on Reddit's advertising business.
03:02
Coinbase reported third-quarter revenue of $1.2 billion, falling short of analysts' expectations of $1.233 billion, with monthly transacting users (MTUs) decreasing to 7.4 million. Despite this, subscription and services revenue increased to $570 million, and adjusted EBITDA has been profitable for 15 consecutive quarters. Coinbase also disclosed the purchase of $1.5 billion worth of Bitcoin in the third quarter. Additionally, filings show that CEO Brian Armstrong has established a plan under SEC Rule 10b5-1 to sell up to 8.17 million shares of Class A common stock, with co-founder Fred Ehrsam and President Emilie Choi having similar plans, totaling approximately 13.6 million shares. Coinbase's stock (COIN) fell approximately 15% today, impacted by the $6.3 billion Binance security breach.
03:01
The Israeli army on Friday demolished the homes of two Palestinian brothers in the occupied West Bank city of Hebron, after they were accused of attacking and killing two Israeli soldiers on October 23. The demolition came on the eighth day of a military offensive and siege on the city, during which forces detained at least 12 Palestinians. The Hebron municipality stated that the offensive has displaced 4,969 Palestinians from 780 families.
03:00
Oman rescued 25 crew members from a burning oil tanker in the Strait of Hormuz on Friday, Al Jazeera reported. Meanwhile, Iran stated it had intercepted three oil tankers attempting to cross the strait via "unauthorized routes," with one supertanker hitting a mine and catching fire. The Iranian Revolutionary Guard Corps Navy also claimed to have destroyed an enemy unmanned vessel in the eastern Strait of Hormuz on Friday. The U.S. military denied Iran's claims about mines and stated that the "internationally recognized main shipping lanes" of the strait had been successfully cleared of Iranian mines.
02:56
Al Jazeera reports two explosions in Yemen's southern city of Aden, with no immediate information on casualties or the cause of the blasts. This comes amid an escalation of Houthi attacks and a tightening siege on Taiz.
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.

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