News linked to both this project and an event.
Odaily Report: In the final weeks before the November 3 US midterm elections, crypto industry-related political action committees (PACs) have further ramped up their political spending, with an overall lean toward supporting Republican candidates. The three major crypto industry PACs have spent nearly $170 million combined, with Fairshake and its affiliated organizations spending $154 million and retaining $56 million for the next election cycle.Additionally, the Digital Freedom Fund, primarily backed by the Winklevoss brothers, spent over $8 million this month, focusing on preventing Democratic candidates from winning Senate seats in Ohio, Texas, and Iowa. The Fellowship Fund, which has close ties to Tether, previously spent $3.8 million supporting Republican candidates and subsequently spent $600,000 supporting Democratic candidates, including $300,000 in support of New York Congressman Ritchie Torres.Although the PACs in question all lean toward supporting Republicans, the industry still positions its political spending as bipartisan, aimed at supporting crypto-friendly candidates. Fairshake's major funding supporters include Coinbase, a16z, and Ripple Labs. The crypto industry's nearly $170 million in political spending this cycle has made it one of the most politically active industries in the current US congressional elections. (CoinDesk——
Binance has once again updated the progress of the hacking incident, stating that it has now covered $6 billion of the losses caused by the hack. Previously, Binance said it had completed the backfilling of approximately 90% of affected assets, a further increase from the previously disclosed 80%; BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC have all achieved 100% full reserve backing.
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 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.
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.
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."
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.
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.
Odaily Report: Marc Zeller, founder of the Aave Chan Initiative (ACI), posted on X stating that the Aave protocol is fine.The Binance hacker injected 60 million USDT into the protocol within just 3 minutes and borrowed 19,762 wETH (approximately $44.9 million), at which point Tether had not yet frozen the address, nor had the Aave Guardian frozen the Aave V3 Core pool's reserves (this operation occurred 46 minutes later).However, USDT is backed by real dollars, and from the protocol's perspective, although this position is the proceeds of crime, it is overcollateralized — with a health factor of 1.04, holding $59.9 million in collateral against $44.9 million in debt.Of course, the protocol now has a large borrower with little incentive to repay the loan, but the liquidation mechanism will still operate as usual. If the ETH price rises above approximately $2,365 (+4%), the position will be liquidated just like any other position.Currently, the Aave V3 Core pool's total wETH reserves stand at 2.16 million wETH, and the hacker's debt accounts for "only" 0.9% of that, so Aave does not need to take any special action against the hacker. There are currently 345,000 wETH available (capital utilization rate of 81.6%), so if wETH depositors wish to withdraw, liquidity is fully sufficient. There is no reason or need for a bank run to occur.This situation is far less alarming than the Kelp hacker incident (which involved zero-value collateral). In theory, a governance proposal could be passed to force liquidation of the hacker by upgrading the pool (if the USDT liquidation threshold were lowered, it would affect all USDT depositors), but there is no practical benefit to doing so, as the normal liquidation mechanism can easily absorb this debt.
Odaily report: A wallet suspected to be associated with the Binance hack incident received tens of thousands of ETH through a Uniswap contract and borrowed 19,762 ETH on Aave using approximately $60 million in USDT as collateral. On-chain records do not show any vulnerabilities in Uniswap or Aave.As of 22:07 UTC, the two wallets held approximately 253,000 ETH, worth about $570 million, with no outgoing transfers recorded. Aave has paused the Ethereum mainnet V3 market, and Kamino has also paused borrowing in the SOL/BTC market; Ripple has frozen approximately $200 million in RLUSD, and more than $2 billion in USDT and USDC has been frozen by stablecoin issuers. (Decrypt)
according to an official announcement, Huobi HTX listed JIO/USDT and PREDICT/USDT perpetual contracts on October 29, supporting 1-20x long and short operations.
Odaily reports: According to an official announcement, Gate ETF launched SOXS3L/USDT (buying equals 3x long SOXS), SOXS3S/USDT (buying equals 3x short SOXS), CBRS3L/USDT (buying equals 3x long CBRS), and CBRS3S/USDT (buying equals 3x short CBRS) trading pairs on October 29 at 15:00 (UTC+8), offering users more leveraged trading options.To coincide with the new listings, Gate has simultaneously launched an ETF new listing trading challenge. The campaign runs from October 29 at 15:00 to November 7 at 15:00 (UTC+8), featuring a total prize pool of 60,000 USDT, with a single user eligible for up to 670 USDT in combined rewards.The campaign includes four major tasks: new listing first-trade rewards, cumulative trading check-ins, a community-wide trading prize pool, and friend referrals. Users who complete their first trade with a trading volume of at least 100 USDT have a chance to receive a 10 USDT ETF trading fee rebate voucher; participating in cumulative trading check-ins can earn up to 100 USDT in rewards; the community-wide trading prize pool can unlock up to 30,000 USDT, with eligible users sharing rewards proportionally based on trading volume, up to a maximum of 500 USDT per person.
Bitget lists five popular stock perpetual contracts: ITUB (Itaú Unibanco), DASHSTOCK (DoorDash), NU (Nubank), PBR (Petrobras), and CLS (Tianhong Technology). These contracts settle in USDT, support up to 20x leverage, and enable 24/7 trading. To date, Bitget supports a total of 389 stock contract underlying assets.
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)
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)
Binance announced that it will list five bStocks tokenized securities trading pairs—APPB/USDT, BSPB/USDT, GEVB/USDT, SKDDB/USDT, and SKUUB/USDT—on October 28 at 20:00 (UTC+8), and will simultaneously enable spot algorithmic trading bots. Withdrawals for the related assets will open at 21:00 on the same day.
Bitget has listed perpetual contracts for two popular Taiwanese stocks: HONHAI (Hon Hai) and MEDIATEK (MediaTek). These contracts are settled in USDT, support up to 20x leverage, and offer 24/7 trading. As of now, Bitget supports a total of 384 stock contract underlying assets.
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)
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.
According to the official announcement, Binance will adjust the minimum price precision for the BLURUSDT and QUSDT USDT-margined perpetual contracts on October 28 at 14:30 (UTC+8). Specifically, the minimum price tick size for BLURUSDT will change from 0.00001 to 0.000001, while for QUSDT it will change from 0.000001 to 0.00001. Contract trading and other operations will remain unaffected during the adjustment period. API price precision information will be updated synchronously, and existing orders will remain unchanged.