News linked to both this project and an event.
Odaily reports: Cryptocurrency market liquidations exceeded $1.54 billion on Friday morning, with an attack on Binance triggering a market-wide sell-off. Long positions accounted for approximately $1.29 billion in liquidations, representing over 80% of the total. Binance stated that attackers stole approximately $6.3 billion, with the investigation pointing to a compromised laptop belonging to a DevOps engineer.Bitcoin briefly dropped to $76,320, with related liquidations approaching $500 million; Ethereum long liquidations exceeded $300 million. Bitcoin subsequently rebounded to $78,400 but remains down 2% over the past 24 hours and 5% below its price at the start of the month.Binance said partners have frozen approximately $3 billion of the stolen funds, and the company will draw on its Secure Asset Fund for Users (SAFU) and corporate reserves to cover remaining customer losses. Deposits and withdrawals remain suspended, and Binance has revoked authorizations for affected addresses while contacting law enforcement and blockchain intelligence partners to trace the funds. On-chain analyst ZachXBT linked the attack to the North Korea-affiliated threat group Tradertraitor. (Bitcoin.com News)
According to Bloomberg reports, Bobby Lee, founder of the digital asset hardware wallet company Ballet, stated in an interview with Bloomberg Television that the Bitcoin stolen in the Binance security incident is likely irrecoverable, as the related assets have already fallen into the hands of the hackers. He noted that stablecoins are currently the asset type with the most realistic chance of recovery, but freezing assets does not mean the recovery process is complete. Binance will still need to cooperate with law enforcement agencies on the investigation and formally apply to claim the frozen assets.
Odaily reports: Cryptocurrency exchange KuCoin has announced the immediate suspension of all products and services for users in Russia and Belarus, citing legal and regulatory compliance considerations. KuCoin will provide an orderly exit process allowing users to withdraw their assets.On Thursday, the Bank of Russia approved the National Association of Securities Market Participants (NAUFOR) as a self-regulatory organization for cryptocurrency exchanges and custodians. The central bank's register currently lists 23 cryptocurrency exchanges and 8 digital asset custodians, and registered entities must join a self-regulatory organization within 90 days. (Cointelegraph)
According to Russian RBC, Ekaterina Andreeva, First Vice President of the National Association of Market Participants (NAUFOR), stated at Crypto Summit 2026 that testing standards for investors purchasing cryptocurrencies on Russian-regulated platforms have been finalized. The draft was submitted to the Standards Committee of the Central Bank of Russia last week. Brokerages will be the first to obtain eligibility to test clients, with the rollout expected to begin as early as late November. Test results will be valid across all regulated platforms, and question banks and procedures for various licensed institutions are expected to remain unified.
According to the Beijing Daily app, the Haidian District Market Regulation Bureau in Beijing has investigated and penalized the city's first illegal case involving the use of blockchain and virtual currency technologies to assist in pyramid selling operations. The involved tech company was fined and had its illegal gains confiscated, totaling over 930,000 RMB. The company served as an outsourced service provider for a public chain, offering operational support, marketing services, promotional campaigns, exchange integration, and maintenance.
Odaily reports: Sarah Court, Chair of the Australian Securities and Investments Commission (ASIC), said at a parliamentary hearing on Thursday that the agency has not yet received any applications from prediction market operators. She noted that such platforms may face gambling regulation in Australia rather than financial market regulation, and that any operating license application would face strict scrutiny.Court said that the trading mechanism of prediction markets is similar to binary options, which Australia has already banned, featuring an all-or-nothing outcome, and that the underlying assets are often unrelated to investments or financial markets. She also noted that although Australian users can directly access relevant overseas platforms, they are not protected by local financial regulation and have difficulty obtaining measures such as dispute resolution and client fund protection.In August of this year, the Australian Communications and Media Authority required internet service providers to block the Polymarket website and classified it as an illegal online gambling site. (Bloomberg)
Odaily Report: Approximately $11 billion worth of Bitcoin options are set to expire on October 30, accounting for about one-third of Deribit's total open interest in Bitcoin options. Coupled with the approaching US midterm elections on November 3, the market may face greater volatility.Bitcoin fell below the $80,000 mark on Monday this week and has since hovered around that level, trading at approximately $81,100 in the Singapore market on Thursday. Among the soon-to-expire options, call options outnumber put options, with strike prices concentrated at $90,000, $95,000, and $100,000 — contracts at these levels are likely to expire worthless in the short term. Meanwhile, approximately 70% of the expiring options' Gamma is concentrated in the $75,000 to $82,000 range. Adam Haeems, Head of Asset Management at Tesseract Group, noted that if market makers hold short positions, their hedging activities could accelerate Bitcoin's decline below the $75,000 to $78,000 range; if they hold long positions, it could cushion the downside.Caroline Mauron, co-founder of Orbit Markets, pointed out that some option sellers may wait until after the US midterm elections on November 3 to establish new positions, resulting in a lack of常规 Gamma supply to buffer price fluctuations. Volatility could increase further around the announcement of election results.Additionally, the battle for congressional control could also affect the Trump administration's ability to advance crypto-friendly policies. A Bloomberg Market Pulse survey shows that if Republicans retain control of both chambers of Congress, the median year-end Bitcoin price forecast is $90,800; if Democrats control both chambers, it is $76,450; and if Congress is split between the two parties, it is $84,100. Paul Howard, Senior Director at Wincent, expects that after market volatility hit historic lows over the past year, Bitcoin market volatility in November may rebound significantly. (Bloomberg)
Odaily Report: Market monitoring firm Solidus Labs has identified that a trader placed over $170 million in anomalous orders through two accounts on Hyperliquid during the period of severe international oil price volatility between March 8 and 10, suspected of using "spoofing" to influence market prices. The accounts in question placed large orders on one side of the order book before quickly canceling them, while simultaneously executing trades on the other side. Solidus stated that the trader profited approximately $119,000 during the relevant period, but their true identity and subjective intent to manipulate the market have not yet been confirmed.In one case, the trader rapidly canceled approximately $17 million in sell orders while executing approximately $425,000 in buy orders, with the Brent crude oil perpetual contract price showing significant fluctuations before and after the cancellation. Hyperliquid Labs emphasized that all orders, cancellations, and trade records on the platform are publicly recorded on-chain and available for real-time review; the relevant contract issuer Trade.xyz also stated that the platform has order limits and continuous monitoring mechanisms in place. This incident has once again raised market concerns about trading regulation on crypto derivatives platforms and their potential impact on traditional commodity markets. (Bloomberg)
Odaily reports: Vlad Tenev, CEO of fintech company Robinhood, said the US tokenized market needs more durable regulatory rules. On the company's third-quarter earnings call, he stated that the US Securities and Exchange Commission (SEC)'s innovation exemption is a positive step, but uncertainty in regulatory rules could deter investors from committing substantial assets to the tokenized market.Tenev said that establishing further rules or passing legislation would help provide long-term regulatory certainty. Robinhood plans to launch tokenized private company equity products overseas; in the US, the company is seeking a compliant path that fits within existing investor accreditation restrictions.Robinhood currently offers about 200 tokenized equities, backed by underlying shares, but the products are structured as tokenized debt securities and do not carry the same shareholder rights as traditional stocks, and therefore do not meet the SEC's innovation exemption requirements. In the third quarter, the company's crypto revenue fell 55% year-over-year to $120 million, while crypto notional trading volume dropped 38% to $50 billion. (Cointelegraph)
Odaily reports: Crypto analyst Darkfost posted that the Bitcoin Unified Sentiment Index has fallen back into negative territory, currently at -11 and continuing to decline, indicating that the previous extreme greed phase has passed and bearish market sentiment is beginning to accumulate.Darkfost noted that the current index reading remains within a relatively neutral range but clearly reflects deteriorating sentiment in the Bitcoin market. The index fluctuates between -100 and +100, combining the Fear and Greed Index and CoinGecko sentiment survey data, and is standardized based on a rolling one-year window.
According to The Block, BlackRock Financial Management Company, BlackRock Japan, Japanese financial group SBI Holdings, and Startale Group have signed a memorandum of understanding (MOU) to explore linking tokenized money market funds (MMFs) with the Japanese yen stablecoin JPYSC, and will research related technological infrastructure, business models, distribution channels, and regulatory requirements.
Odaily reports: The U.S. Commodity Futures Trading Commission (CFTC) has signed a memorandum of understanding with the National Basketball Association (NBA) to share information and establish communication mechanisms to maintain fair trading in prediction markets and prevent insider trading and market manipulation. The NBA announced that Kalshi and Polymarket will become its preferred prediction market platforms. The NBA is the third U.S. professional sports league to sign a similar agreement with the CFTC, following the National Hockey League (NHL) and Major League Baseball (MLB), which have already established cooperation with the CFTC.
Cynthia Lummis posted that Democrats had requested lowering the annual fundraising cap for cryptocurrency regulation from $75 million to $50 million and adding a $200 million lifetime cap. She said the relevant provisions had been agreed to and written into the Crypto Market Structure Act (CLARITY Act), but Democrats subsequently still voted against this rule aimed at protecting retail investors.
Odaily reports: Crypto wallet Phantom began rolling out Kalshi prediction market services to U.S. users on October 23, allowing users to trade event contracts directly within the app, with availability set to gradually expand over the coming weeks. Users must complete Kalshi's KYC verification and can fund trades through a Phantom Cash account using CASH, a U.S. dollar-pegged stablecoin. Due to lawsuits in various states, Phantom will temporarily restrict sports, election, political, and certain other category markets in some states.Kevin Jacobs, Phantom's general counsel, said the company believes the U.S. Commodity Futures Trading Commission (CFTC) has clear jurisdiction over such products and will comply with state restrictions during the litigation. (The Block)
According to PR Newswire, J.P. Morgan Asset Management announced on October 22 that its tokenized money market funds MONY and JLTXX are now live on the Solana blockchain and available to eligible U.S. investors. Eligible investors can subscribe and redeem through its institutional trading platform, Morgan Money, and receive their token balances at their own blockchain addresses. MONY is a private fund established under Rule 506(c), launched in December 2025. At that time, J.P. Morgan became the first global systemically important bank to launch a tokenized money market fund on a public blockchain. JLTXX is a U.S.-registered government money market fund, with an investment approach designed to support stablecoin issuers under the framework of the GENIUS Act.
Odaily reports: Banking group HSBC has launched the stablecoin RedCoin, which will be available to over 3.3 million PayMe users for payments to 100,000 merchants before the weekend. Maggie Ng, CEO of HSBC Hong Kong and General Manager of Retail Banking and Wealth Management, stated that funds, assets, and information are shifting from traditional infrastructure to always-on, data-rich, and increasingly programmable digital networks.Li Guankang, Head of Retail Banking Products at HSBC and CEO of PayMe, stated that RedCoin will match the existing PayMe wallet in terms of transaction speed and other aspects, while offering additional benefits for merchant payments. To celebrate the launch of RedCoin, users can receive transaction coupons and "reward money" and other rewards.John O'Neill, Managing Director of Digital Assets and Currencies at HSBC, stated that within the year, a stablecoin wallet function will be added to the HSBC Hong Kong mobile banking app, and users will be able to subscribe to tokenized investment products using RedCoin, including the HSBC Hong Kong Dollar Money Market Fund, with a minimum subscription amount of HKD 100.Over the past months, HSBC has worked with regulators and potential users to advance the launch of RedCoin, with nearly 100 employees participating in the pilot, testing the complete process from minting to wallet activation to actual transfers. HSBC will subsequently expand use cases for corporate and institutional clients and launch more products. (HK01 NFT)
Odaily reports: Bitcoin's market dominance rose to 60% on Wednesday, reaching its highest level since May of this year and holding near that level, reflecting investors' preference for holding Bitcoin over altcoins. Meanwhile, Bitcoin fell below $82,000 on Thursday, giving back gains from the previous day's brief break above $84,000. Small-cap tokens saw more pronounced declines, with the CoinDesk Memecoin Index dropping over 5%, the Computing Select Index falling 3.5%, and the DeFi Select Index down 2.5%.Joel Kruger, market strategist at LMAX Group, said that the crypto market's prior outperformance relative to other assets has shifted to trading more closely in line with equity markets, with investors awaiting new industry catalysts. Vikram Subburaj, CEO of Indian exchange Giottus, noted that Bitcoin ETF inflows have yet to form a sustained trend, and investors should avoid chasing rallies while monitoring ETF fund flows and Federal Reserve policy signals. (CoinDesk)
Odaily reports: Bankless founder David Hoffman reposted Lighter's regulatory update on X and wrote: "Lighter season back on btw."During Lighter's Q3 investor call held last night via webcast, David Hoffman, speaking as an investor, asked: "Given that Lighter has already had extensive prior communication with the CFTC (U.S. Commodity Futures Trading Commission), do you expect the approval of the DCM (Designated Contract Market) and DCO (Derivatives Clearing Organization) licenses to come earlier than the CFTC's stipulated 180-day review period?"Lighter founder and CEO Vladimir Novakovski responded: "We believe that the extensive prior communication will make the whole process much smoother... The CFTC currently has a lot on its plate, so we can't give an exact timeline yet... However, the CFTC is a fast-moving team internally, so we expect the overall approval process to go relatively smoothly."Previously, David Hoffman reportedly sold all his ETH and rotated into tokens such as LIT, ZEC, and NEAR, with the rotated tokens subsequently significantly outperforming ETH.
According to CoinDesk, Ripple’s brokerage Ripple Prime (formerly Hidden Road) has enabled institutional clients to trade swap contracts linked to over 100 stocks, commodities, and money markets around the clock, with the option to use its US dollar-backed stablecoin RLUSD as collateral. These swap contracts track the perpetual contracts listed on the Trade.xyz platform on Hyperliquid, are currently provided under Ripple Prime’s British Virgin Islands license, with plans to expand into additional jurisdictions in the future, while trading firm Virtu has already joined as an early client. In a client report, Daragh Maher, Head of Digital Assets Research at HSBC, characterized the offering as a “gradual rather than revolutionary” upgrade, noting that its current market size remains modest compared to traditional finance, with initial activity likely concentrated among market makers, proprietary trading firms, and hedge funds executing basis trades.
Odaily reports: Bitcoin News posted on X stating that, with the Clarity Act stalled, regulators are crafting digital asset market rules on their own under existing authority. The U.S. Commodity Futures Trading Commission has sought comment on a retail digital asset trading framework, including the addition of a new "crypto asset market" exchange category, with the comment period closing on December 14; the U.S. Securities and Exchange Commission's comment window for its proposed Regulation Crypto Assets will close on October 20. Regulators are moving faster than Congress on rulemaking, but the rules may face court challenges or be revoked by future commissions; a durable regulatory framework still requires legislation.