News linked to both this project and an event.
Odaily report: Crypto analyst Darkfost posted that market sentiment deteriorated noticeably within a single day, with the Fear and Greed Index falling from 51 (neutral) to 30 (fear), the lowest level since mid-August. Over the same period, Bitcoin dropped about 4% to 5% within 24 hours, briefly touching a six-week low near $76,500; Ethereum fell below $2,200, and total liquidations across the market exceeded $1.6 billion in the past 24 hours.Darkfost noted that historically, periods of market pessimism often correspond to accumulation opportunities, but the current index reading of 30 only represents fear and has not yet entered the extreme fear zone below 25, suggesting market sentiment may remain under pressure. In addition, this round of decline was partly triggered by Binance's $6.3 billion hack incident and did not stem entirely from a clear deterioration in market fundamentals.
Bonk Guy posted that although Bitcoin has further dropped from around $79,000 to near $77,000, most altcoins have shown relatively strong resilience against Bitcoin. While some tokens also declined, the drops were relatively limited. Binance appears to have bought back most of the tokens sold off during the hack incident, and approximately $3 billion in assets have been frozen and are expected to be returned. Of the $6.3 billion in losses involved in this incident, about half has been frozen, and the remaining portion may also be recovered within a reasonably short timeframe.Bonk Guy expects that Bitcoin may decline further and form a阶段性 low, but most of the selling pressure on altcoins may have already been released. Market conditions could improve over the coming weeks to months, and he believes it is currently more suitable to go long on altcoins, buying in batches during pullbacks.
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)
trader Killa stated in a post that the FTX collapse once marked a market bottom, and the recent Binance hack incident may have a similar effect. He believes the best way to recoup losses is to drive prices up significantly rather than push them further down, noting that Binance holds billions of dollars worth of Bitcoin and has the financial capacity to launch billion-dollar-scale long positions, and that such operations may not be directly observable by retail investors.Killa also speculated that Binance may have generated approximately $1 billion in revenue through liquidations, slippage, and trading fees. Although the market may need some time to digest the short-term impact of this incident, he remains bullish on the medium- to long-term outlook for the crypto market.
Odaily reports: Some market observers suggest that following the approximately $6.3 billion hack on Binance, project teams, VCs, and associated wallets may temporarily hold off on selling their altcoin holdings. In the coming days, funds, insiders, and project-affiliated wallets may exercise greater caution before selling tokens into the market to avoid further exacerbating selling pressure.Blockchain analytics firms TRM Labs and Chainalysis have both attributed the attack to North Korea with high confidence. Binance has committed to covering user losses through its protection fund and company resources, and approximately $3 billion in stolen assets have been located, with about half frozen through stablecoin issuers such as Tether and Circle. Market analysts note that the incident has once again sparked discussions around the security of centralized trading platforms, the freezing capabilities of stablecoins, and the difficulty of tracking decentralized assets. (zerohedge)
He pointed out that the losses from this theft amount to slightly over $6 billion. In dollar terms, it is roughly 25% less than FTX's funding gap. However, the market maintains high confidence in Binance's commercial credibility, and the industry quickly came together to assist one another. He believes this shows that the sector has matured.
CZ responded to a community user's comment on Bitcoin's resilience, saying that given the sharp declines in traditional financial markets today, which fell more than the crypto market, Bitcoin's performance was quite surprising. Traditional financial market downturns usually drag down the crypto market, as investors tend to sell off assets and hoard cash, but this time Bitcoin demonstrated remarkable resilience.Previously, a community user noted that if the world's largest cryptocurrency exchange had suffered a hack exceeding $6 billion, Bitcoin's price would have been expected to take a heavy hit, yet its decline that day was only about 3%, suggesting the market bottom may be near.
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 Report: Joe Vezz, CEO of social monitoring platform LunarCrush, posted on X platform stating, "According to monitoring, after the Binance hacking incident, Kraken's related market sentiment index rose by 10 points; subsequently, Hyperliquid's related index rose by 4 points; OKX's related index rose by 3 points.
Odaily reports: Crypto KOL Seven research posted that "right now, the vast majority of market makers and quantitative firms in the crypto market keep the bulk of their capital and main margin accounts on Binance. Many institutions engage in cross-exchange arbitrage or hedging, and Binance's suspension of withdrawals could cause their funding chains to seize up on the spot—if market volatility continues to intensify, they would be unable to withdraw funds from Binance to top up margin elsewhere. To avoid liquidation, they would be forced to close positions on other exchanges and on-chain, forcibly pulling cash back. This is also why, even though the assets stolen were Ethereum-ecosystem assets, Solana and a bunch of altcoins ended up crashing along with it today."
Crypto KOL 0xPickleCati believes the suspected hack at Binance currently resembles more of a security incident than an FTX-style solvency crisis, but the market may experience further declines over the next 72 hours, and they are preparing to buy in tranches.
According to on-chain reports, abnormal fund outflows have occurred from Binance's hot wallet, with funds flowing to newly created addresses. These addresses were initially funded via Tornado Cash, and the stolen funds are valued at over $2.5 billion.
Trader Killa posted that despite the market facing multiple bearish factors—including the Fed's hawkish decision, rising oil prices, hotter-than-expected CPI data, surging global bond yields, a stronger dollar, the Ledger wallet hack, and market concerns over Strategy (MSTR)'s delisting risk and its pivot to AI—Bitcoin has still maintained range-bound trading. Given the current macroeconomic pressures and negative news, Bitcoin should have fallen below $70,000, but its resilience is noteworthy. The market may be gradually forming a significant interim bottom, and its ability to hold the price range amid bearish shocks indicates that it is absorbing negative news, which is also a typical characteristic of a bull market.
Odaily Report: After a publicly listed company under Japan's GMO Internet Group suffered a cyberattack, related risks are spreading to Japan's credit market. Data shows that the spread on a GMO Internet Group yen bond maturing in June 2031 widened to approximately 174 basis points on October 28, up from about 122 basis points on October 20—before the company disclosed the unauthorized access incident—reflecting investor concerns over damaged earnings and rising compensation costs.The GMO subsidiary that provides cloud services disclosed on October 21 that it had suffered unauthorized access and received a ransom demand of approximately 8 billion yen (about $50.7 million). The attackers subsequently published data they claimed contained customer information. GMO refused to pay the ransom and plans to compensate customers for their losses. Analysts noted that as AI-powered cyberattacks increase, such incidents could affect corporate financing and bond issuance arrangements.GMO Internet operates the cryptocurrency exchange "Z.com EX," which has obtained licenses from the Thailand Securities and Exchange Commission and the Thai Ministry of Finance. The exchange disclosed that it has been acquired, with the acquisition involving all shares of the target company held by shareholders including GMO Internet and its related subsidiaries. It remains unclear whether customer information data involves the related cryptocurrency exchange. (Bloomberg)
Odaily reports: Papertrade founder Jez posted on X in response to the controversy over the non-transferability of the PAPER token, stating that the team was aware of certain unresolved technical issues before the protocol launched, including potential attack risks posed by the perpetual contract market, but had originally expected more time to find solutions.Jez noted that the team had previously estimated that a large perpetual contract market might take about 6 months to launch, but the relevant market progressed much faster than expected, forcing the team to make a decision before finding an effective solution. To safeguard the protocol's long-term healthy development, PAPER has currently been set to a non-transferable status.He emphasized that PAPER represents users' rights to the protocol's revenue, and its long-term value depends on whether Papertrade itself can continue to attract traders, rather than whether the token can be freely traded. The team is unwilling to restrict the protocol's business growth in order to support PAPER perpetual contract trading.In response to community concerns that the rule change harms the interests of early users, Jez stated that the adjustment was not a hasty decision but a risk management choice made by the team based on actual operating data from the first week since the protocol launched, and that the team will continue to adjust protocol parameters in the future to ensure long-term sustainability.
Odaily News: Bitcoin fell to $80,350 on Thursday before rebounding, climbing back above $83,000 at the Friday U.S. stock market open and subsequently fluctuating around $82,500. The rolling 24-hour cryptocurrency liquidation amount had previously exceeded $1 billion. Despite news circulating that Ledger hardware wallet users' funds were stolen, the crypto market has not yet shown significant selling pressure.Analysts suggest that before the U.S. CPI data is released on October 14, Bitcoin may remain range-bound, with the main trading range between $81,300 and $86,500, and could repeatedly test $84,000. The market is also watching whether Bitcoin can hold the key level of $82,500 before the weekly close. (Cointelegraph)
Odaily News: Lido is developing a decentralized lending market called Lido Lend, which is built on a modified fork of Morpho Blue, adopts an isolated lending market design, is proposed to be governed by Lido DAO, and is pending a governance vote for approval. Lido Lend is limited to blue-chip assets, encourages price-correlated trading pairs such as stETH/ETH, and provides a deposit screening mechanism to guard against bad collateral. Lido stated that Lido Lend is not a general-purpose pool-based lending solution but is aimed at professional borrowers and risk-averse lenders; currently, stETH staking scale exceeds $25 billion, with no major security incidents since launch.
Aave founder Stani stated on X that the team is tracking the developments of the MetaMask staking infrastructure security incident in collaboration with Lido. Stani noted that so far, the Aave market has not been affected by the incident, and all operations remain fully operational.
As reported by Astana Times, Kazakhstan's regulated cryptocurrency market recorded a trading volume of $10.58 billion in 2025, marking a significant surge from $320 million in 2023, while the number of users increased from 53,000 to 215,000. At the same time, Kazakhstan ranked within the global top 10 for submission numbers to the International Solana Hackathon, with over 8,000 individuals completing training through the Solana ecosystem and more than 2,000 earning certificates. Additionally, 57 Web3 startups in the country have already received a combined total of approximately $262,000 in funding, and plan to complete the tokenization of real estate and logistics projects valued at up to $60 million by the end of 2026, exploring the feasibility of digital assets as a new channel for economic financing.