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Calpers cuts holdings in the Big Tech Seven by 26% in the first half of the year, shifting to private equity
According to CoinDesk citing the Financial Times (FT), CalPERS, the California Public Employees' Retirement System and the world's fifth-largest pension fund managing over $600 billion in assets, will cut its combined direct shareholdings of the "Magnificent Seven" tech stocks by 26% in the first half of 2026 (as calculated by FT from regulatory filings). CalPERS Deputy Chief Investment Officer Anton Orlich stated that public market valuations are high, tech giants may underperform compared to other investments, and the fund is increasing its private equity allocation to diversify investments and reduce reliance on a few market leaders.
Gate Releases Q3 2026 Report: Derivatives Trading Volume Ranks Among Global Top 3, Stock and ETF Coverage Reaches 12,800+
Odaily — Gate has released its "Q3 2026 Report," showing continued growth in its trading business and a significant expansion of its multi-asset trading product matrix in Q3 2026. According to CoinDesk data, Gate's derivatives trading volume reached $396 billion in September, up 38.2% quarter-over-quarter, ranking among the global top three centralized derivatives exchanges with market share rising to 10.1%. Over the same period, spot trading volume reached $48.8 billion, up 21.9% quarter-over-quarter, while its RWA perpetual contract market share reached 9.1%, ranking third globally.On the TradFi side, Gate's stock and ETF coverage increased to over 12,800 instruments, spanning U.S., Hong Kong, Korean, and Japanese equities, providing users with a rich selection of global asset allocation options. Its tokenized stock business gStocks continued to expand its tradable instruments, with monthly trading volume exceeding 2.5 billion USDT in August, and its comprehensive competitiveness in stock spot trading ranking among the global top two. Gate ETF quarterly trading volume approached 60 billion USDT, with ETF trading pairs supported by the platform increasing to 424; options quarterly trading volume grew 23.8% quarter-over-quarter, and the number of new trading users rose 52.1%, as U.S. stock options continue to broaden traditional financial asset trading scenarios. The launch of stock copy trading further connects stock and ETF trading across multiple markets, enriching the ways users can participate in global financial markets.From crypto asset trading to global stocks, ETFs, CFDs, and multi-asset derivatives, Gate continues to broaden its product coverage and trading scenarios, driving the accelerated integration of digital assets and traditional financial markets while refining its one-stop multi-asset trading service system.
US SEC Token Safe Harbor Proposal Warned of Lacking Regulatory Certainty, Exchanges Fear Future Liability
Odaily reports: Crypto wallet backup company Vault12 submitted a comment letter to the U.S. Securities and Exchange Commission (SEC) on Tuesday, stating that the SEC's proposed token safe harbor framework fails to adequately address centralized exchanges' listing concerns, and trading platforms still worry they may face retroactive challenges from the SEC regarding the legal status of tokens in the future.Vault12 raised $17.45 million from 38 investors in 2018 through a future token agreement. Its issued Vault Guardian Token (VGT) has not yet been listed on any centralized exchange. The project has fulfilled or formally abandoned all commitments in its white paper, but exchanges it previously approached still require confirmation that the SEC will not determine in the future that VGT remains subject to the original investment contract.The SEC's "Regulation Crypto Assets" proposal introduced in August this year aims to provide exemptions for token fundraising and allow eligible projects to terminate the association between tokens and original investment contracts through a safe harbor mechanism. Vault12 recommends adding a 60-day objection period; if the SEC does not raise objections within the deadline, qualifying filings should have final effect on the agency, except in cases of fraud or material misrepresentation. (CoinDesk)
EasyA Secures $1.1B Standalone Valuation, Plans Direct Listing in H1 2027
Odaily reports: EasyA, a blockchain and AI application development education platform, has secured a standalone valuation of $1.1 billion and plans to go public through a direct listing in the first half of next year. The company has filed registration documents with the U.S. Securities and Exchange Commission (SEC), though the current valuation does not represent the actual price investors will pay once its shares begin trading.EasyA states that its app has surpassed 1.3 million users and is considering issuing tokenized shares. Meanwhile, the company is expanding into tokenization projects and applications involving AI agents. (CoinDesk)
Strive Plans to Raise $500 Million to Increase Bitcoin Holdings and Other Purposes, New Preferred Stock Offers 15% Fixed Dividend Rate
Odaily News: Bitcoin treasury company Strive (ASST) has announced plans to issue a new class of perpetual preferred stock, SATS, aiming to offer 5 million shares at $100 per share, targeting a raise of $500 million. The proceeds will be used to increase Bitcoin holdings, acquire yield-generating assets, or repurchase company shares.SATS has a fixed dividend rate of 15%, with dividends paid daily, and ranks junior to the company's existing SATA preferred stock, which carries a floating dividend rate currently at 13%. Strive also plans to establish a reserve equivalent to the total dividends for the first 18 months of SATS upon completion of the offering. Additionally, Strive increased its holdings by 3,311 Bitcoin last week, bringing its total position to 32,773 BTC, valued at approximately $2.7 billion. (CoinDesk)
MNX Lists Pre-IPO Futures Contracts for OpenAI and 3 Other Private AI Companies
Odaily News: MNX, a cryptocurrency exchange built on MegaETH by Manifold Markets, has listed futures contracts that allow investors to trade on the valuations of private AI companies including OpenAI, Anthropic, DeepSeek, and Moonshot.These contracts expire at the end of 2027 and do not charge periodic funding fees, but settlement prices may differ from the prices investors pay when purchasing shares in private companies.MNX allows traders to use up to 3x leverage on their available funds, currently does not serve U.S. customers, and plans to expand into markets related to the broader AI economy. (CoinDesk)
Polymarket US Platform Launches 5-Minute Cryptocurrency Prediction Contracts Covering BTC, ETH, SOL, and XRP
According to CoinDesk, prediction market platform Polymarket launched five-minute cryptocurrency price prediction contracts on Oct. 28 on a platform regulated by the U.S. Commodity Futures Trading Commission (CFTC), covering Bitcoin, Ethereum, Solana, and XRP. Users can wager on whether the cryptocurrency’s price at the end of the five-minute cycle will be higher or lower than the starting price; correct predictions pay out $1 per contract, while incorrect ones receive no payout.
Utah files criminal charges against prediction market platform Kalshi and its two co-founders.
According to CoinDesk, Utah has filed criminal charges against prediction market platform Kalshi (KalshiEX LLC) and co-founders Tarek Mansour and Luana Lopes Lara for illegally promoting gambling in the state. Prosecutors have filed a total of 14 counts, including one felony for alleged ongoing unlawful activity, 12 counts promoting online gambling, and one misdemeanor count for gambling. The prosecution is based on testimony from an undercover investigator with the Utah Attorney General's Office.
Canada's APX Lending plans to launch Bitcoin-backed mortgages in Q1 2027, with interest rates and liquidation terms yet to be announced.
According to CoinDesk, Toronto-based Canadian lending institution APX Lending announced on Wednesday that it plans to launch Bitcoin-secured mortgages in the first quarter of 2027, enabling homebuyers to secure down payments or full purchase prices without selling their Bitcoin. The company has opened its waitlist and claims it will become Canada’s first regulated provider of Bitcoin-secured mortgages, though it has yet to disclose interest rates, repayment terms, maximum loan-to-value caps, and the triggers for additional collateral calls or liquidation.
XRP Ledger Developers Test Zero-Balance Account Creation Proposal, with Sponsors to Cover 1 XRP Reserve Requirement
XRP Ledger developers are testing a new feature that would allow the creation of blockchain accounts with a zero initial balance, with existing accounts covering the reserve requirement for new accounts, in order to lower the funding barrier for payment applications and automated software to create wallets at scale.The proposal was submitted on October 15 as the SponsoredAccountCreate transaction proposal. Under current XRP Ledger rules, each account must hold at least 1 XRP as a reserve, meaning that creating 100,000 separate accounts would require locking up 100,000 XRP. The new proposal would have a sponsoring account cover this reserve requirement, and a broader fee-sponsorship mechanism in the future could also allow applications to pay transaction fees on behalf of users, though the network's overall reserve requirement would not be eliminated as a result.The feature is expected to lower the barrier to use for scenarios such as embedded wallets, RLUSD stablecoin payments, and automated payments by AI agents. However, the relevant code is still under review, and the sponsorship mechanism it relies on has not yet launched on mainnet. As of October 19, the mechanism had received only 11 of the 35 required validator votes, still short of the 29 votes needed for approval. (CoinDesk)
Bithumb: Compromised Internal System Operates Independently from Trading Platform; Whether Customer Information Was Involved Remains Under Investigation
Odaily reports: South Korean cryptocurrency exchange Bithumb has stated that its internal mobile system used by employees for work and communications was breached by external parties, with some personal information stolen. The exchange is currently investigating the specific scope of impact, including whether customer information was involved.Bithumb discovered the breach on October 27 and has reported it to the Korea Internet & Security Agency and the Personal Information Protection Commission. The exchange emphasized that the compromised internal system operates independently from its trading platform, and that attackers cannot access customer crypto assets through this breach.As of now, no crypto asset losses have been reported, and the specific number of affected individuals and whether deposit and withdrawal services were impacted have not yet been disclosed. (CoinDesk)
CF Benchmarks Launches On-Chain Pricing Service, Bringing BlackRock Bitcoin ETF Index Data On-Chain
Odaily reports: CF Benchmarks, the index provider under Kraken's parent company Payward, has launched CFB Oracle, bringing pricing benchmarks for BlackRock's Bitcoin ETF and CME Group cryptocurrency futures into blockchain applications. The service provides benchmark data across cryptocurrency, equities, bonds, commodities, and forex markets, enabling developers to build products such as on-chain index funds, tokenized portfolios, and derivatives.CF Benchmarks states that its indices currently serve products representing over $120 billion in assets. CFB Oracle now supports Ethereum, HyperEVM, and Robinhood Chain, with plans to expand to other compatible networks in the future. Payward also plans to use the service to provide pricing data for its upcoming U.S. perpetual contract product, which is still awaiting regulatory approval. The service will compete with oracle providers such as Chainlink and Pyth. (CoinDesk)
Three Wall Street Firms Recommend Buying Crypto Stocks on the Dip, Say Binance Hack Unlikely to Derail Market Recovery
Odaily report: Analysts from three Wall Street firms—Cantor Fitzgerald, TD Cowen, and Compass Point—all believe that despite Binance suffering an approximately $6.3 billion hack, there is currently insufficient evidence to suggest the incident will threaten the broader crypto market, and the market's prior recovery trend is unlikely to be interrupted as a result.Cantor Fitzgerald analyst Ramsey El-Assal noted that Tether has frozen over $1.5 billion in stolen assets, Circle has frozen approximately $800 million, and Ripple has frozen about $200 million, with Binance stating that the total frozen stolen funds currently amount to roughly $3 billion. He believes the crypto industry is gradually improving its ability to respond to such security incidents and expects crypto-related stocks such as Coinbase, Robinhood, and Strategy to rebound once market panic subsides, recommending that investors buy on the dip.TD Cowen analyst Lance Vitanza believes the attack exposed security weaknesses in Binance's own transaction signing infrastructure rather than flaws in the underlying technology of cryptocurrencies like Bitcoin, and that the market sell-off may present an opportunity to accumulate Bitcoin and shares of listed companies holding Bitcoin.Compass Point analysts believe Binance has sufficient liquidity to cover the funding gap, and expect its excess USDT reserves, BTC reserves, and USDC funds to be adequate to absorb the losses. However, the firm also warned that Binance compensating customers could put pressure on stablecoin supply and may drive users to migrate from centralized exchanges to competing platforms such as Coinbase, Bullish, and Hyperliquid. (CoinDesk)
Binance Hot Wallet Suspected of Unusual Outflows, New Address Now Holds Over $2 Billion in Assets
According to CoinDesk and security firm Blockaid, Binance's hot wallet has experienced large-scale abnormal outflows since 04:24 Beijing Time. New addresses are holding over $2 billion in assets, Binance has not yet confirmed an attack; BNB dropped approximately 6% within one hour.
Market Awaits Fed Decision as BTC Short-Term Options Bearish Sentiment Cools Notably
Odaily reports: Bitcoin rose about 0.8% since midnight (UTC) on Monday to $81,400, after briefly falling below $80,000. Ethereum gained 0.9%, Asian chip stocks led a tech rebound, South Korea's KOSPI rose 6.6%, SK Hynix climbed about 11% on roughly 7x year-over-year profit growth, and Nasdaq 100 futures rose 0.5%.The Federal Reserve is about to announce its rate decision, and the CME FedWatch tool shows the market sees about a 92% probability of rates being held steady. Traders will focus on Fed Chair Kevin Warsh's press conference to gauge whether there is any possibility of a rate hike ahead. U.S. spot Bitcoin ETFs saw net inflows of $176 million on Tuesday, marking a second consecutive trading day of inflows.On the derivatives side, crypto futures trading volume rose 7.5% over the past 24 hours to $163.2 billion, open interest increased only 1.3%, and liquidations rose 38% to $183.6 million. Bitcoin rose 2.3% while open interest actually fell 0.1%; Ethereum rose 2.7% with open interest up 1.7%, indicating the price rebound has not yet been accompanied by large-scale new leverage. ZEC open interest grew 14%, higher than its 6.3% price gain over the same period, making it one of the large crypto assets with the most obvious new position building.In the options market, Deribit data shows that Bitcoin's one-week put/call skew has dropped from nearly 10% a week ago to less than 1%, indicating that demand for short-term downside protection has weakened somewhat, though the one-month, three-month and six-month tenors remain clearly skewed toward puts. Meanwhile, gold futures open interest fell 10%, while open interest for Tether's gold token XAUT rose 11.6%, showing divergent capital flows. (CoinDesk)
Bitcoin Falls Below $80,000 Ahead of Fed Decision, Put Option Demand Remains Dominant
Odaily Report: Bitcoin fell below $80,000 on Tuesday, down about 0.4% since UTC midnight and touching a low of around $79,700. Ethereum dropped 0.5%, while the DeFi index fell 1.8%, the largest decline among CoinDesk-tracked indices. Meanwhile, South Korea's KOSPI rose 3.1% as Asian tech stocks strengthened, but the crypto market failed to follow the rebound.On the macro front, the Federal Reserve will begin its two-day policy meeting on Tuesday and announce its rate decision on Wednesday. CME FedWatch data shows the market sees about a 90% probability that the Fed will keep rates unchanged, with traders watching whether there is still any chance of a rate hike this year.In the options market, the $72,000 put expiring December 25 was the most-traded Bitcoin option over the past 24 hours, and the 25 Delta put/call skew for Bitcoin options across maturities is positive, indicating the market still has demand for downside protection. (CoinDesk)
Investor Jason Calacanis calls for selling Bitcoin to pivot to AI, predicting the price will drop to $57,000.
According to CoinDesk, tech investor and podcast host Jason Calacanis called on investors on Tuesday to sell Bitcoin and pivot to artificial intelligence on the X platform. He predicts that Bitcoin will retest its $57,000 low within the next 12 months and will not set a new all-time high. This level is approximately 28% lower than Tuesday's quote of around $79,600. He argues that Bitcoin has "lost the crowd" and lacks utility beyond serving as a store of value. Furthermore, citing ETF outflows as evidence, he asserts that this trend will continue.
CoinDCX Confirms $16 Million Loss Due to Failed Fund Aggregation, Says Active Users' Funds Are Safe
As reported by CoinDesk, Indian cryptocurrency exchange CoinDCX has confirmed a loss of $16 million. The incident occurred because its sweeping process failed to withdraw customer deposits from wallets compromised in a July 2025 hack. The exchange stated it would absorb the loss itself and confirmed that active users' funds remain secure.
Three Wall Street Firms Recommend Buying Crypto Stocks on the Dip, Say Binance Hack Unlikely to Derail Market Recovery
Odaily report: Analysts from three Wall Street firms—Cantor Fitzgerald, TD Cowen, and Compass Point—all believe that despite Binance suffering an approximately $6.3 billion hack, there is currently insufficient evidence to suggest the incident will threaten the broader crypto market, and the market's prior recovery trend is unlikely to be interrupted as a result.Cantor Fitzgerald analyst Ramsey El-Assal noted that Tether has frozen over $1.5 billion in stolen assets, Circle has frozen approximately $800 million, and Ripple has frozen about $200 million, with Binance stating that the total frozen stolen funds currently amount to roughly $3 billion. He believes the crypto industry is gradually improving its ability to respond to such security incidents and expects crypto-related stocks such as Coinbase, Robinhood, and Strategy to rebound once market panic subsides, recommending that investors buy on the dip.TD Cowen analyst Lance Vitanza believes the attack exposed security weaknesses in Binance's own transaction signing infrastructure rather than flaws in the underlying technology of cryptocurrencies like Bitcoin, and that the market sell-off may present an opportunity to accumulate Bitcoin and shares of listed companies holding Bitcoin.Compass Point analysts believe Binance has sufficient liquidity to cover the funding gap, and expect its excess USDT reserves, BTC reserves, and USDC funds to be adequate to absorb the losses. However, the firm also warned that Binance compensating customers could put pressure on stablecoin supply and may drive users to migrate from centralized exchanges to competing platforms such as Coinbase, Bullish, and Hyperliquid. (CoinDesk)
Analysis: Bearish Sentiment Heats Up in BTC and ETH Options Markets as Risk-Off Mood Intensifies
following a suspected North Korean hacker attack on Binance involving $6.3 billion, Bitcoin briefly fell to $76,400, its lowest level since September 18, before rebounding somewhat. Ethereum touched a low of $2,170 before recovering to around $2,220.Risk-off sentiment has intensified in the market, with bearish sentiment heating up in both BTC and ETH options markets. Among the options with the highest trading volumes, put options account for the majority, and 25 Delta skews across multiple expiries have risen simultaneously, reflecting increased demand for hedging against downside risk. Meanwhile, weakness in U.S. tech stocks has also added pressure to the market, with Nasdaq 100 index futures falling 2.3%. (CoinDesk)
Binance Stolen Wallet Classified as Proof of Reserve Wallet, ETH Reserve Ratio May Drop to 94%
According to CoinDesk's analysis, the hacked Binance Hot Wallet 14 was listed in Binance's October 1 Proof of Reserves; following the theft of approximately 204,500 ETH, its ETH backing ratio may drop from 100% to around 94%, with the next reserve snapshot scheduled for November 1.
Binance Hot Wallet Suspected of Unusual Outflows, New Address Now Holds Over $2 Billion in Assets
According to CoinDesk and security firm Blockaid, Binance's hot wallet has experienced large-scale abnormal outflows since 04:24 Beijing Time. New addresses are holding over $2 billion in assets, Binance has not yet confirmed an attack; BNB dropped approximately 6% within one hour.
Polymarket confirms third-party service provider was breached, stating it will fully compensate affected users.
According to CoinDesk, Polymarket officially confirmed that one of its third-party service providers was compromised, resulting in the theft of user assets on its international platform. The issue has been resolved and handed over to law enforcement authorities. Affected users will receive full compensation, and trading on the platform remains suspended.
Bithumb: Compromised Internal System Operates Independently from Trading Platform; Whether Customer Information Was Involved Remains Under Investigation
Odaily reports: South Korean cryptocurrency exchange Bithumb has stated that its internal mobile system used by employees for work and communications was breached by external parties, with some personal information stolen. The exchange is currently investigating the specific scope of impact, including whether customer information was involved.Bithumb discovered the breach on October 27 and has reported it to the Korea Internet & Security Agency and the Personal Information Protection Commission. The exchange emphasized that the compromised internal system operates independently from its trading platform, and that attackers cannot access customer crypto assets through this breach.As of now, no crypto asset losses have been reported, and the specific number of affected individuals and whether deposit and withdrawal services were impacted have not yet been disclosed. (CoinDesk)
Walmart, Eli Lilly, and five other companies oppose the OKX–ICE tokenized stock plan, bringing the number of opponents to 38.
According to CoinDesk, Walmart, Eli Lilly, Carnival, Arcos Dorados, and Cigna have joined the opposition to the tokenized stock trading plan by OKX and Intercontinental Exchange (ICE). According to a public notice updated on October 28, 38 of the 62 companies originally slated to list have raised objections, representing over 61%.
Bermuda partners with WalletConnect to advance its on-chain economic initiative, with the first merchant payment use case slated to launch in 2027.
According to CoinDesk, the Bermuda government has selected WalletConnect to expand local crypto payment applications, with the ticketing platform PTIX set as the first merchant to integrate, and the related payment functionality is expected to launch in the second quarter of 2027.
Fed Holding Rates Steady Already Priced In by Markets, Three Signals Could Shape Bitcoin's Trajectory
The Federal Reserve is about to announce its interest rate decision, after which Fed Chair Kevin Warsh will hold a press conference. Markets expect the Fed to keep the benchmark rate unchanged in the 3.75%–4% range, with investors focused on three key signals: first, whether three or more voting members dissent from holding rates steady and advocate for a hike; second, how Warsh assesses the recent easing of financial conditions and the pullback in U.S. Treasury yields; third, what he says about two consecutive months of above-expectation inflation data, oil prices near $100, and record-high U.S. diesel prices.If more officials signal a hawkish tilt, or if Warsh views looser financial conditions as exacerbating inflationary pressure, market expectations for future rate hikes could intensify, potentially lending support to the dollar index while weighing on risk assets such as Bitcoin. Ahead of the decision, Bitcoin stood at $81,411, up more than 2% over 24 hours; Ethereum, SOL, and XRP also posted gains of over 2% over the same period. (CoinDesk)
XRP Ledger Developers Test Zero-Balance Account Creation Proposal, with Sponsors to Cover 1 XRP Reserve Requirement
XRP Ledger developers are testing a new feature that would allow the creation of blockchain accounts with a zero initial balance, with existing accounts covering the reserve requirement for new accounts, in order to lower the funding barrier for payment applications and automated software to create wallets at scale.The proposal was submitted on October 15 as the SponsoredAccountCreate transaction proposal. Under current XRP Ledger rules, each account must hold at least 1 XRP as a reserve, meaning that creating 100,000 separate accounts would require locking up 100,000 XRP. The new proposal would have a sponsoring account cover this reserve requirement, and a broader fee-sponsorship mechanism in the future could also allow applications to pay transaction fees on behalf of users, though the network's overall reserve requirement would not be eliminated as a result.The feature is expected to lower the barrier to use for scenarios such as embedded wallets, RLUSD stablecoin payments, and automated payments by AI agents. However, the relevant code is still under review, and the sponsorship mechanism it relies on has not yet launched on mainnet. As of October 19, the mechanism had received only 11 of the 35 required validator votes, still short of the 29 votes needed for approval. (CoinDesk)
Market Awaits Fed Decision as BTC Short-Term Options Bearish Sentiment Cools Notably
Odaily reports: Bitcoin rose about 0.8% since midnight (UTC) on Monday to $81,400, after briefly falling below $80,000. Ethereum gained 0.9%, Asian chip stocks led a tech rebound, South Korea's KOSPI rose 6.6%, SK Hynix climbed about 11% on roughly 7x year-over-year profit growth, and Nasdaq 100 futures rose 0.5%.The Federal Reserve is about to announce its rate decision, and the CME FedWatch tool shows the market sees about a 92% probability of rates being held steady. Traders will focus on Fed Chair Kevin Warsh's press conference to gauge whether there is any possibility of a rate hike ahead. U.S. spot Bitcoin ETFs saw net inflows of $176 million on Tuesday, marking a second consecutive trading day of inflows.On the derivatives side, crypto futures trading volume rose 7.5% over the past 24 hours to $163.2 billion, open interest increased only 1.3%, and liquidations rose 38% to $183.6 million. Bitcoin rose 2.3% while open interest actually fell 0.1%; Ethereum rose 2.7% with open interest up 1.7%, indicating the price rebound has not yet been accompanied by large-scale new leverage. ZEC open interest grew 14%, higher than its 6.3% price gain over the same period, making it one of the large crypto assets with the most obvious new position building.In the options market, Deribit data shows that Bitcoin's one-week put/call skew has dropped from nearly 10% a week ago to less than 1%, indicating that demand for short-term downside protection has weakened somewhat, though the one-month, three-month and six-month tenors remain clearly skewed toward puts. Meanwhile, gold futures open interest fell 10%, while open interest for Tether's gold token XAUT rose 11.6%, showing divergent capital flows. (CoinDesk)
Google to Launch MPC Encrypted Custody System
According to CoinDesk, Google will launch the Google Multi-Party Compute (MPC) security service at the inaugural digital assets conference in New York on Wednesday to help financial institutions such as banks safeguard and transfer cryptocurrencies and tokenized assets.
Related news
Three Wall Street Firms Recommend Buying Crypto Stocks on the Dip, Say Binance Hack Unlikely to Derail Market Recovery
Odaily report: Analysts from three Wall Street firms—Cantor Fitzgerald, TD Cowen, and Compass Point—all believe that despite Binance suffering an approximately $6.3 billion hack, there is currently insufficient evidence to suggest the incident will threaten the broader crypto market, and the market's prior recovery trend is unlikely to be interrupted as a result.Cantor Fitzgerald analyst Ramsey El-Assal noted that Tether has frozen over $1.5 billion in stolen assets, Circle has frozen approximately $800 million, and Ripple has frozen about $200 million, with Binance stating that the total frozen stolen funds currently amount to roughly $3 billion. He believes the crypto industry is gradually improving its ability to respond to such security incidents and expects crypto-related stocks such as Coinbase, Robinhood, and Strategy to rebound once market panic subsides, recommending that investors buy on the dip.TD Cowen analyst Lance Vitanza believes the attack exposed security weaknesses in Binance's own transaction signing infrastructure rather than flaws in the underlying technology of cryptocurrencies like Bitcoin, and that the market sell-off may present an opportunity to accumulate Bitcoin and shares of listed companies holding Bitcoin.Compass Point analysts believe Binance has sufficient liquidity to cover the funding gap, and expect its excess USDT reserves, BTC reserves, and USDC funds to be adequate to absorb the losses. However, the firm also warned that Binance compensating customers could put pressure on stablecoin supply and may drive users to migrate from centralized exchanges to competing platforms such as Coinbase, Bullish, and Hyperliquid. (CoinDesk)
Analysis: Bearish Sentiment Heats Up in BTC and ETH Options Markets as Risk-Off Mood Intensifies
following a suspected North Korean hacker attack on Binance involving $6.3 billion, Bitcoin briefly fell to $76,400, its lowest level since September 18, before rebounding somewhat. Ethereum touched a low of $2,170 before recovering to around $2,220.Risk-off sentiment has intensified in the market, with bearish sentiment heating up in both BTC and ETH options markets. Among the options with the highest trading volumes, put options account for the majority, and 25 Delta skews across multiple expiries have risen simultaneously, reflecting increased demand for hedging against downside risk. Meanwhile, weakness in U.S. tech stocks has also added pressure to the market, with Nasdaq 100 index futures falling 2.3%. (CoinDesk)
Binance Stolen Wallet Classified as Proof of Reserve Wallet, ETH Reserve Ratio May Drop to 94%
According to CoinDesk's analysis, the hacked Binance Hot Wallet 14 was listed in Binance's October 1 Proof of Reserves; following the theft of approximately 204,500 ETH, its ETH backing ratio may drop from 100% to around 94%, with the next reserve snapshot scheduled for November 1.
Binance Hot Wallet Suspected of Unusual Outflows, New Address Now Holds Over $2 Billion in Assets
According to CoinDesk and security firm Blockaid, Binance's hot wallet has experienced large-scale abnormal outflows since 04:24 Beijing Time. New addresses are holding over $2 billion in assets, Binance has not yet confirmed an attack; BNB dropped approximately 6% within one hour.
Polymarket confirms third-party service provider was breached, stating it will fully compensate affected users.
According to CoinDesk, Polymarket officially confirmed that one of its third-party service providers was compromised, resulting in the theft of user assets on its international platform. The issue has been resolved and handed over to law enforcement authorities. Affected users will receive full compensation, and trading on the platform remains suspended.
Polymarket US Platform Launches 5-Minute Cryptocurrency Prediction Contracts Covering BTC, ETH, SOL, and XRP
According to CoinDesk, prediction market platform Polymarket launched five-minute cryptocurrency price prediction contracts on Oct. 28 on a platform regulated by the U.S. Commodity Futures Trading Commission (CFTC), covering Bitcoin, Ethereum, Solana, and XRP. Users can wager on whether the cryptocurrency’s price at the end of the five-minute cycle will be higher or lower than the starting price; correct predictions pay out $1 per contract, while incorrect ones receive no payout.