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Project Overview
Tether, the world's largest issuer of stablecoins, is a company that issues stablecoins pegged 1:1 to fiat currencies and aims to promote the digital use of fiat currencies. It currently has four divisions: Tether Data, which specializes in AI and P2P technology investments; Tether Finance, which manages stablecoin services; Tether Power, which is responsible for sustainable bitcoin mining; and Tether Edu, which promotes digital skills education.
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.
Peso Completes Pre-Seed Round, Led by Tether
Peso has announced the completion of its Pre-Seed funding round, led by Tether. Peso is a Bolivian fintech company that offers a USDT account integrating savings, spending, investing, and cross-border transfers. It connects to the Bolivian banking system through QR codes and the ACH payment network, supporting exchanges between stablecoins and local fiat currency. Peso has integrated USDT payments into the digital services platform Yango, allowing users to pay for food delivery orders directly within the app. The funds from this round will be used to expand Peso's local fiat on-ramp and off-ramp channels in Bolivia, Brazil, Colombia, and Argentina, as well as to build a merchant-facing POS payment network and virtual account infrastructure.
Tether Capital Participates in AI Chip Company Tenstorrent's $1.5 Billion Series E Funding
Odaily reports: Stablecoin issuer Tether's investment arm Tether Capital has announced its participation in AI chip company Tenstorrent's $1.5 billion Series E funding round, valuing Tenstorrent at $6.2 billion post-funding. Tenstorrent, led by chip architect Jim Keller, primarily develops high-performance AI processors, server systems, and software, aiming to provide open AI computing infrastructure and reduce developers' reliance on the proprietary hardware and cloud services of a handful of large tech companies.Tenstorrent plans to use this round of funding to expand production and deployment of its Galaxy server systems, advance R&D in AI chips and CPU technology, and expand its global commercial operations. The company's technology already serves enterprises including Samsung and LG, with applications spanning large language models and video generation, among other fields.
AI chip startup Tenstorrent completes $1.5 billion Series E funding round, post-money valuation reaches $6.2 billion
According to an official announcement from Tenstorrent, the company has completed a $1.5 billion Series E financing round, with a post-money valuation of $6.2 billion. Led by Trace Capital and Innovation X, the round saw participation from both new and existing investors, including Agostinelli Group, ARK Invest, Cadence Ventures, Fidelity Management & Research Company, Morgan Stanley, Sandisk, Tether Investments, T. Rowe Price, Virtu Financial, and XTX Markets.
AIsa completes extended seed round financing, with strategic investments from Tether and HIVEN, bringing cumulative funding to over $9 million.
As reported by Cointelegraph, enterprise-grade AI agent infrastructure company AIsa has completed a seed round extension financing, with Tether and HIVEN joining as strategic investors, bringing its cumulative funding to over $9 million. Previous investors also include Alibaba, Tribe Capital, Sumitomo Corporation, Draper Associates, and Saison Capital.
AIsa Completes Seed Extension Round with Strategic Investments from Tether and HIVEN, Total Funding Surpasses $9 Million
Enterprise AI agent infrastructure company AIsa has announced the completion of a seed extension round, with stablecoin issuer Tether and HIVEN joining as strategic investors. This round brings its cumulative funding to over $9 million.Tether and HIVEN join the existing investor lineup that includes Alibaba, Tribe Capital, Sumitomo Corporation, Draper Associates, and Saison Capital. AIsa founder and CEO Jordan Liu stated that the company will build infrastructure to support global discovery, access, and payment for resources by AI agents.AIsa's network integrates resource discovery, access, and transactions, connecting enterprise AI agents with external data, AI search, models, APIs, software tools, and industry services, while providing permission management, usage metering, billing, and settlement. (Cointelegraph)
Binance theft case involves $6.4 billion, Tether freezes over 1.567 billion USDT
Binance is collaborating with the FBI and the U.S. Secret Service to investigate a theft incident involving $6.4 billion. Stablecoin issuer Circle stated it has frozen over $800 million in USDC related to the incident and is cooperating with law enforcement authorities in the investigation. (Decrypt)
USAT is independently issued by Anchorage, GENIUS Act approval process not yet initiated
Odaily reports: USAT is independently issued by Anchorage Digital Bank, N.A., with Tether providing technology and supporting branding, strategy, and distribution. Anchorage's disclosure states that Tether is not the issuer of USAT and has no obligation to redeem or guarantee the token; USAT and USDT are different products with different issuers and legal arrangements.Anchorage's terms only allow approved customers to directly mint or redeem USAT, while other holders typically need to trade through exchanges or the secondary market. Its August 31, 2026 reserve report shows approximately 175.7 million redeemable USAT in circulation, corresponding to approximately $176.4 million in reserve assets.The GENIUS Act took effect on July 18, 2025, with its main issuance framework set to be implemented on January 18, 2027. The U.S. Office of the Comptroller of the Currency (OCC) published the main implementing rules on October 21, 2026; as of October 27, the OCC had not yet initiated the application process, and public materials do not indicate that USAT has obtained issuance approval under the Act. (Bitcoin.com News)
Anchorage Digital Bank Provides Six-Blockchain Custody for MXNB, Bitso Lists USDPT and USAT
Odaily report: Federally regulated digital asset bank Anchorage Digital Bank has expanded its partnership with Bitso to provide custody services for MXNB across six blockchains: Arbitrum, Base, Ethereum, Polygon, Avalanche, and Arc. Bitso stated that its infrastructure already processes 15% of transaction volume on the U.S.-Mexico remittance corridor.Bitso has also listed the U.S. dollar stablecoins USDPT and USAT, issued by Western Union and Tether respectively. Mexican users can directly buy and sell USDPT with pesos through the Bitso app; Western Union agents operating Bitso Business accounts can also exchange USDPT for other supported currencies. (Bitcoin.com News)
USDC's share of euro stablecoin trading rises to 56%, surpassing USDT
Odaily reports: Data from crypto market data firm Kaiko shows that USDC now accounts for 56% of euro stablecoin trading volume, up from 10% in January 2024, and has surpassed USDT. The shift in market share accelerated after multiple exchanges in the European Economic Area restricted USDT trading in accordance with the Markets in Crypto-Assets Regulation (MiCA).USDC's liquidity in euro-denominated trading has also surpassed USDT, with its order book depth approximately 40% higher. However, USDT remains the larger stablecoin globally, with a circulating supply about 2.5 times that of USDC.About two weeks ago, the European Banking Authority (EBA) designated USDC as the EU's first "significant e-money token" under the MiCA framework and placed it under direct supervision. Kaiko also noted that the U.S. GENIUS Act could drive similar trading shifts on U.S. platforms; Tether, meanwhile, has launched USAT, a stablecoin aimed at the U.S. market. (Cointelegraph)
About 400,000 USDT Suffered Unauthorized Transfers; Predict.fun Promises Full Compensation
Odaily reports: Prediction market platform Predict.fun has confirmed that unauthorized fund transfers occurred in the wallets of a small number of users, involving approximately 400,000 USDT, and has promised full compensation for the losses directly suffered by affected users as a result of this incident. A preliminary investigation shows that the API documentation website hosted by a third-party service provider may have been compromised and affected a small number of users within a short period of time. Predict.fun has taken the documentation website offline as a precautionary measure and will publish a full incident review and preventive measures once the investigation is complete.
Thailand launches app for converting stablecoins to QR code payments
According to Bitcoin.com News, a collaborative project in Thailand has launched a digital wallet app called WORPT, which allows foreign tourists to exchange stablecoins such as USDT and USDC for Thai baht and make payments to local merchants via Thailand's QR Promptpay network. Launched under the Securities and Exchange Commission of Thailand’s (SEC) tourist Digipay regulatory sandbox initiative, the app is jointly developed by Waan Exchange and Wipay, in partnership with the USDT issuer, The Mall Group, and Visa. Designed within the sandbox framework, local merchants will not receive cryptocurrency directly; instead, payments are settled in Thai baht through standard payment channels. WORPT also plans to introduce physical and virtual Visa prepaid cards, allowing users to draw from a shared Thai baht balance for both QR code scans and card transactions. The project is slated to hold its official launch event in November 2026.
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)
Analyst: Binance's Reserve Assets Only Declined Marginally After Attack, User Impact Limited
Odaily report: Crypto analyst Darkfost posted that although Binance yesterday suffered an attack suspected to be linked to the North Korean hacker group Lazarus Group, with losses of approximately $6.3 billion—the largest theft in crypto industry history—the platform's reserve assets only declined modestly, and the impact on users appears limited.Data shows that during the attack, Binance saw outflows of 18,279 BTC, 185 million XRP, and $1.67 billion USDT at one point; ETH flowed out in two batches, totaling 246,840 coins (167,464 and 79,376 respectively). Based on same-day reserve changes, BTC reserves fell 3.1% to over 682,000 coins, ETH dropped 8.5% to 3.3 million coins, XRP declined 8% to 2.47 billion coins, and USDT decreased 6.3% to $34.1 billion.Additionally, Binance stated it has frozen approximately $3 billion in related assets, including $1.567 billion USDT and over $800 million USDC, and pledged to absorb losses through the SAFU fund and company reserves. Darkfost believes the magnitude of change in Binance's reserve assets indicates the platform still possesses a certain capacity to absorb shocks.
Analysis: Binance Hack May Inadvertently Halt VC and Project Token Sell-Offs
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)
CoinDCX: Futures trading has resumed. SOPH, ERA, GTC, and LA will temporarily maintain a reduce-positions-only mode.
CoinDCX stated that platform futures trading has resumed normal operations across all markets. However, as a precaution, trading for SOPH, ERA, GTC, and LA remains in Reduce-Only mode for INR and USDT trading pairs. CoinDCX noted that, in light of the earlier incident involving global liquidity providers, the platform's risk management team will continue to monitor these tokens to guard against potential market manipulation and abnormal volatility.
Trader 58bro.eth sold 8,000 ETH in the past hour, worth over $17.96 million
Odaily reports: According to on-chain analyst Ai Yi's monitoring, trader 58bro.eth (@0x58bro, 0xc24...FE8d) sold 8,000 ETH in the past hour. After redeeming over $17.96 million worth of ETH from Aave, the trader deposited ETH to OKX in batches and has so far withdrawn 10.5 million USDT to repay loans; 4,911.05 WETH remains staked in Aave with 2.51 million USDT borrowed, and the health rate is 3.69.
63% of EIP-7702 authorization transactions involve malicious contracts, research reveals wallet authorization risks
Odaily reports: An empirical study presented at USENIX Security 2026 shows that among the approximately 3.66 million early EIP-7702 authorization transactions across seven chains, about 63% were associated with malicious contracts; confirmed losses exceed $2.3 million, and 924 malicious contracts were identified. Most attacks use phishing to trick users into signing authorizations that delegate their wallets to sweeper contracts. On-chain analysis shows that in today's anomalous outflow event from Binance hot wallets, attackers exploited EIP-7702 authorizations signed by hot wallets including Binance 14 to delegate accounts to pre-deployed malicious sweeper contracts, then transferred assets in bulk within minutes. Estimates from multiple parties put the scale in the billions of dollars, and Tether, Circle, and others have frozen some stablecoins. This incident aligns with the risks identified in the research: whether through private key leakage or abuse of signing systems, once attackers obtain a legitimate authorization signature, EIP-7702 grants them persistent execution control over the account until the authorization is revoked.
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)
Aave V3 and V4 have fully lifted market freezes, with some assets temporarily maintaining 0 LTV
Aave officially stated that the precautionary freeze measures taken following the Binance security incident have now been lifted, and all markets on Aave V3 and V4 have returned to normal. Previously, after receiving initial information about the incident, Aave paused new deposits and borrowings, but users could still withdraw assets and repay loans normally. Aave emphasized that its smart contracts were not affected by the incident, and user positions remained fully collateralized at all times. As an ongoing precautionary measure, the LTV of USDT, USDC, USDT0, POL, WAVAX, sAVAX, XAUT, PAXG, and OP will temporarily remain at 0, and these assets cannot be used as collateral for new borrowings.
Analyst: Binance's Reserve Assets Only Declined Marginally After Attack, User Impact Limited
Odaily report: Crypto analyst Darkfost posted that although Binance yesterday suffered an attack suspected to be linked to the North Korean hacker group Lazarus Group, with losses of approximately $6.3 billion—the largest theft in crypto industry history—the platform's reserve assets only declined modestly, and the impact on users appears limited.Data shows that during the attack, Binance saw outflows of 18,279 BTC, 185 million XRP, and $1.67 billion USDT at one point; ETH flowed out in two batches, totaling 246,840 coins (167,464 and 79,376 respectively). Based on same-day reserve changes, BTC reserves fell 3.1% to over 682,000 coins, ETH dropped 8.5% to 3.3 million coins, XRP declined 8% to 2.47 billion coins, and USDT decreased 6.3% to $34.1 billion.Additionally, Binance stated it has frozen approximately $3 billion in related assets, including $1.567 billion USDT and over $800 million USDC, and pledged to absorb losses through the SAFU fund and company reserves. Darkfost believes the magnitude of change in Binance's reserve assets indicates the platform still possesses a certain capacity to absorb shocks.
Analysis: Binance Hack May Inadvertently Halt VC and Project Token Sell-Offs
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)
HTX DeepThink: Security incidents compounded by tightening expectations, BTC may sustain high volatility with a weak bias in the short term.
HTX Research analyst Chloe noted that this week, the cryptocurrency market faced a dual shock from expectations of macro tightening and the Binance security incident, causing short-term risk appetite to drop significantly. BTC briefly dipped below $77,000, triggering approximately $1.55 billion in liquidations across the market within 24 hours, including around $1.34 billion in long positions. Reports indicate the security incident involves assets totaling approximately $6.3 billion, with institutions like Tether and Circle assisting in freezing roughly $3 billion of the related funds. Binance has also committed to covering user losses, but the progress of the incident's resolution will continue to dictate the pace of market sentiment recovery.
He Yi: The 60 million USDT collateralized in AAVE falls outside the scope of the complete freeze; the hacker only stole $46 million worth of ETH.
Some users are concerned that freezing protocol collateral funds could trigger cascading liquidations in DeFi. He Yi's reply clarified the situation regarding AAVE-related collateral funds: currently, the 60 million USDT collateralized in AAVE falls outside the full freeze scope, and the hackers actually only stole approximately $46 million worth of ETH. Once these assets are unfrozen through the law enforcement system, an additional ~$14 million in recoverable assets will be available.
HTX Launches "Spooky Halloween Night" Community Event
According to the official Huobi HTX announcement, from now until November 5, 23:59 (UTC+8), Huobi Square will launch the special "HTX Spooky Halloween Night" event. During the event, users who publish original posts on Huobi Square sharing their personal trading experiences or observations and reviews of recent market trends, while using the designated hashtags, are eligible to participate. Authors of eligible posts will equally share a base prize pool worth 100 USDT in HTX tokens. The top 10 posts ranked by valid engagement (the sum of likes, comments, and shares) will additionally share an engagement prize pool worth 100 USDT in HTX tokens.
Bitget Lists Perpetual Contracts for 3 Stocks Including Pfizer and Fortinet
Bitget has listed perpetual contracts for 3 popular stocks: FTNT (Fortinet), EWZS (iShares MSCI Brazil Small-Cap ETF), and PFE (Pfizer).These contracts are settled in USDT and support up to 20x leverage and 24/7 trading. As of now, Bitget supports a total of 392 stock contract underlying assets.
63% of EIP-7702 authorization transactions involve malicious contracts, research reveals wallet authorization risks
Odaily reports: An empirical study presented at USENIX Security 2026 shows that among the approximately 3.66 million early EIP-7702 authorization transactions across seven chains, about 63% were associated with malicious contracts; confirmed losses exceed $2.3 million, and 924 malicious contracts were identified. Most attacks use phishing to trick users into signing authorizations that delegate their wallets to sweeper contracts. On-chain analysis shows that in today's anomalous outflow event from Binance hot wallets, attackers exploited EIP-7702 authorizations signed by hot wallets including Binance 14 to delegate accounts to pre-deployed malicious sweeper contracts, then transferred assets in bulk within minutes. Estimates from multiple parties put the scale in the billions of dollars, and Tether, Circle, and others have frozen some stablecoins. This incident aligns with the risks identified in the research: whether through private key leakage or abuse of signing systems, once attackers obtain a legitimate authorization signature, EIP-7702 grants them persistent execution control over the account until the authorization is revoked.
EIP-7702 Developer: EIP-7702 Itself Has No Vulnerability, But It Did Help the Hacker in the Binance Incident
Odaily Report: Derek Chiang, founder of ZeroDev and a developer involved with EIP-7702, posted on X stating that first, to be clear — EIP-7702 itself has no vulnerability. If you are using a wallet that supports EIP-7702 (MetaMask, Uniswap, Ambire, etc.), please do not panic.EIP-7702 is an Account Abstraction improvement proposal that allows externally owned accounts (EOAs) to sign a special message called a "7702 authorization," thereby embedding a smart contract into that account. This enables accounts to achieve powerful functionality, such as transaction batching — combining "authorization" and "transfer" into a single transaction, allowing you to complete a swap on Uniswap with just one click.Unfortunately, the same feature also allows hackers to efficiently transfer all your tokens in a single transaction. In the Binance hack incident, the hacker moved ETH, USDT, and 62 other tokens in one transaction, whereas without EIP-7702, they would have needed to send a separate transaction for each token. In this particular incident, many such transactions would have failed anyway, because Binance was still using the compromised wallet for withdrawals at the time, so all transactions sent by the hacker had to compete with legitimate transactions for Nonce (transaction sequence number). Therefore, using EIP-7702 did help the hacker steal funds as quickly and as extensively as possible.However, for the hacker to use EIP-7702, one of the following conditions must have been met: first, they obtained the private key; second, they tricked Binance into signing a 7702 authorization — the latter is highly unlikely, as it is hard to imagine Binance exposing an endpoint used for signing 7702 authorizations (or worse, signing raw messages that could be repackaged by the hacker for 7702 authorization). But until the official postmortem report is released, this possibility cannot be completely ruled out.Derek Chiang added: "As one of the contributors to account abstraction, I feel somewhat responsible for this hack incident, because while giving accounts more powerful functionality, we have indeed also given hackers stronger capabilities."
Analysis: Arbitrage Window Emerges On-Chain During Binance Hack, Single Address Profits Approximately $3.47 Million in Two Hours
Odaily Report: During the Binance attack, an obvious arbitrage opportunity emerged on-chain. According to a community user's review, the attacker, in order to avoid Tether freezing, swapped a large amount of USDT for ETH through DEXs, causing the ETH price on Uniswap to briefly rise to $2,560–$2,750, with some individual trades exceeding $3,000, while Aave's ETH price obtained through the Chainlink oracle remained at $2,250–$2,290. A price gap of 15% to 30% appeared between on-chain and oracle prices, lasting nearly an hour.Arbitrageurs exploited this price gap by depositing USDC/USDT as collateral into Aave, borrowing ETH at the oracle price, then selling it at high prices on DEXs, and buying back ETH to repay the loans once the spread narrowed. According to the user's statistics, within 6 hours after the incident, a total of 61 addresses borrowed ETH on Aave mainnet (excluding the hacker's address). Among them, the most profitable address sold 12,289 ETH at an average price of approximately $2,580, then bought back 12,314 ETH at an average price of approximately $2,297, earning about $3.47 million. The top ten arbitrage addresses collectively profited approximately $6.36 million.The user stated that the arbitrageurs exploited the price disconnection between centralized exchanges and DEXs, and that the Aave contract itself had no vulnerability. As DEX prices fell back and Aave froze the mainnet V3 market, the arbitrage window gradually closed. The above profits are based on transaction-by-transaction on-chain statistics and have not yet deducted Gas fees.
GodFish Reviews Binance Hack Incident: Attackers Conducted Two Rehearsals in Advance and Pre-Established a Transfer List for 64 Types of Tokens
Cobo co-founder Shenyu released a video analyzing the Binance theft from an on-chain transaction perspective. At 4:20 AM, the attacker broadcast a transaction containing 50 authorization requests signed with Binance's hot wallet private key, and began batch-transferring assets approximately three minutes later. Shenyu noted that the attack utilized the EIP-7702 authorization mechanism; the attacker had prepared a transfer list covering 64 tokens in advance and conducted two test runs using a test wallet, with the final run occurring roughly 3.5 hours before the main operation. The attacker subsequently transferred assets through multiple wallets and smart contract wallets, exchanging portions of stablecoins such as USDT for ETH to evade issuer-initiated freezes.
Related news
Tether's Q3 net operating profit reaches approximately $1.5 billion, with excess reserves nearly doubling
Tether CEO Paolo Ardoino stated that Tether's net operating profit for Q3 2026 was approximately $1.5 billion, the USDT supply reached roughly 183.5 billion as of September 30, and excess reserves totaled around $7.95 billion, nearly doubling compared to the end of Q2.
Binance theft case involves $6.4 billion, Tether freezes over 1.567 billion USDT
Binance is collaborating with the FBI and the U.S. Secret Service to investigate a theft incident involving $6.4 billion. Stablecoin issuer Circle stated it has frozen over $800 million in USDC related to the incident and is cooperating with law enforcement authorities in the investigation. (Decrypt)
Tether's Reserve Assets Reach $191.5 Billion at End of Q3, Net Operating Profit of $1.5 Billion
Odaily Report: Stablecoin issuer Tether International, S.A. de C.V. has published its Q3 2026 attestation report compiled by BDO, with data as of September 30. Total reserve assets at quarter-end amounted to $191.5 billion, of which direct and indirect U.S. Treasury holdings totaled $132.4 billion.USD₮ issuance remained broadly stable at $184 billion across the first three quarters; cumulative net operating profit for the same period reached $4.5 billion, of which $1.5 billion was recorded in Q3, flat versus Q2. U.S. Treasuries and reverse repurchase agreements continued to contribute the majority of revenue.As of September 30, the company's total assets stood at $191.451 billion and total liabilities at $183.496 billion, with assets exceeding liabilities by $7.955 billion. Excess reserves rose from $4.1 billion at the end of Q2 to $7.95 billion, nearly doubling. (Tether 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)
Aave V3 and V4 have fully lifted market freezes, with some assets temporarily maintaining 0 LTV
Aave officially stated that the precautionary freeze measures taken following the Binance security incident have now been lifted, and all markets on Aave V3 and V4 have returned to normal. Previously, after receiving initial information about the incident, Aave paused new deposits and borrowings, but users could still withdraw assets and repay loans normally. Aave emphasized that its smart contracts were not affected by the incident, and user positions remained fully collateralized at all times. As an ongoing precautionary measure, the LTV of USDT, USDC, USDT0, POL, WAVAX, sAVAX, XAUT, PAXG, and OP will temporarily remain at 0, and these assets cannot be used as collateral for new borrowings.
Analyst: Binance's Reserve Assets Only Declined Marginally After Attack, User Impact Limited
Odaily report: Crypto analyst Darkfost posted that although Binance yesterday suffered an attack suspected to be linked to the North Korean hacker group Lazarus Group, with losses of approximately $6.3 billion—the largest theft in crypto industry history—the platform's reserve assets only declined modestly, and the impact on users appears limited.Data shows that during the attack, Binance saw outflows of 18,279 BTC, 185 million XRP, and $1.67 billion USDT at one point; ETH flowed out in two batches, totaling 246,840 coins (167,464 and 79,376 respectively). Based on same-day reserve changes, BTC reserves fell 3.1% to over 682,000 coins, ETH dropped 8.5% to 3.3 million coins, XRP declined 8% to 2.47 billion coins, and USDT decreased 6.3% to $34.1 billion.Additionally, Binance stated it has frozen approximately $3 billion in related assets, including $1.567 billion USDT and over $800 million USDC, and pledged to absorb losses through the SAFU fund and company reserves. Darkfost believes the magnitude of change in Binance's reserve assets indicates the platform still possesses a certain capacity to absorb shocks.