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Binance Reopens Withdrawals for 56 Tokens on Ethereum and Solana
Binance has expanded the list of crypto assets available for withdrawal on the Ethereum and Solana networks. According to the exchange’s November 3 update, users can now withdraw tokens including LINK, SHIB, ENA and ONDO on Ethereum, alongside PUMP, RENDER, BONK and TRUMP on Solana. The company said it would gradually restore withdrawals for additional assets and networks as security checks are completed.The latest list forms part of the phased reopening following the security incident. Withdrawal availability depends on the specific combination of token and network.Which assets are available for withdrawal on Ethereum and Solana?According to Binance’s official announcement, withdrawals have resumed for the following tokens on Ethereum: ENA, USDE, PENDLE, WLD, QNT, SHIB, ZRO, FET, NIL, ONDO, ALT, SKY, LINK, ETHFI, REZ, JASMY, PUNDIX, BTC, BAT, STRK, POL, ANIME, LSK, RE, BREV, RLC, AMP, PLUME, BLUR, WBETH, ZBT, ENSO, AVA and TUSD.The Solana list includes USD1, PUMP, FDUSD, BMT, RENDER, RAY, TRUMP, MET, PENGU, JUP, PYTH, BONK, KMNO, BNSOL, ORCA, WIF, W, HUMA, JTO, IO, 2Z and BOME.In the same update, the exchange noted that withdrawals for RLUSD, USD1, TUSD, FDUSD and XUSD on Ethereum had already resumed. Since TUSD appears in both Ethereum lists, not every token in the latest announcement represents a newly restored withdrawal option.The update confirms withdrawal availability for each token on the network listed. A token becoming available for withdrawal on Ethereum does not establish whether withdrawals are also available on another network.Withdrawals reopen as security checks are completedIn its sixth recovery announcement, Binance said the next phase would begin on November 3 at 04:00 UTC. The company noted that the listed assets would not all become available simultaneously. Each network and asset combination would undergo separate security and operational readiness checks.The exchange said it had set priorities based on user demand over the previous week. The latest Ethereum and Solana announcement clarified which parts of that plan had been implemented.The broader plan also includes BNB Smart Chain, XRP Ledger, Sui, Arbitrum, Optimism, Tron and Base. However, withdrawal availability has not been separately confirmed for every asset included in the plan.Binance advises users to check the relevant asset’s withdrawal screen or the network status page before initiating a transaction. The company said heavy traffic could cause temporary delays and longer processing times. Users can retry unsuccessful withdrawal requests after a short wait.Deposits remain available and are unaffected by the phased reopening of withdrawals.The initial reopening began on November 1Binance launched the first phase of its withdrawal restoration process on November 1. The initial list included BTC on the Bitcoin network; ETH, USDT and USDC on Ethereum; and SOL, USDT and USDC on Solana.The company said it had assessed the affected infrastructure, conducted security reviews and checked operational readiness before restoring services. The latest update expands withdrawal options beyond the core assets included in the initial reopening.Binance plans to expand reserve verificationIn its November 2 statement, the exchange said it had covered approximately 95% of the affected amount using its own resources. The remaining portion consists of less liquid tokens. Binance said acquiring these assets in the required quantities was taking longer.The same statement announced the completion of the zero-knowledge proof for the October 31 reserve snapshot covering BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC. Users can independently verify that their balances in these ten assets are backed at least one-to-one.The exchange scheduled its next reserve snapshot for November 4 and plans to include additional tokens. It estimates that generating the new proof will take approximately 30–40 hours.
North Korea Denies Involvement in $6 Billion Binance Hack
North Korea has denied allegations that it was behind the Binance attack, the largest cryptocurrency theft on record. Blockchain analytics firms and the FBI had attributed the attack, which involved more than $6 billion, to North Korean hackers.According to Yonhap News Agency, citing state news agency KCNA, Kim Yo-jong, the sister of North Korean leader Kim Jong-un, criticized the FBI’s attribution of the attack to the TraderTraitor group. Kim called the accusation a “serious political provocation” and accused Washington of misleading international opinion by portraying cybercrimes worldwide as the work of North Korea.Kim said the FBI was attempting to brand her country a “cybercriminal state.” She recalled that the United States had also attributed last year’s Bybit hack to North Korea, dismissing the allegations as absurd and a repetition of earlier claims.North Korea also conducted a strategic cruise missile test following the statement.The attack lasted approximately 20 minutesAccording to TRM Labs, the attacker drained approximately $6.36 billion from Binance wallets across 10 blockchains in around 20 minutes on October 29. The amount was roughly four times the $1.5 billion stolen in the February 2025 Bybit hack.TRM said preparations began at least 36 hours before the attack and that the operator’s wallet received funding through Tornado Cash. The attacker first tested the malicious code on three wallets.On Ethereum, the attacker used the EIP-7702 standard to turn a Binance hot wallet into a sweeper wallet under their control. To do so, the attacker prepared 50 signed authorizations in advance.Following the attack, Tether froze approximately $1.77 billion in USDT, while Circle froze around $825 million in USDC.FBI lists more than 600 addressesThree firms, including TRM Labs, linked the attack to North Korea. Over the weekend, the FBI also confirmed that North Korea was behind the theft.The FBI said the state-sponsored TraderTraitor group, active since at least 2020, had converted the stolen assets primarily into Ether. Its advisory listed 608 Ethereum addresses, 19 Bitcoin addresses and one Solana address.The FBI urged a wide range of services, from THORChain node operators to DeFi platforms, to block transactions linked to these addresses. According to analyst SomaXBT, the hackers laundered approximately $242 million through the Tron network in the first two days.The FBI had also attributed the February 2025 Bybit attack to TraderTraitor.Binance replaces 95% of affected assetsBinance published its first proof-of-reserves report following the attack on Monday. The exchange said it had replaced approximately 95% of the affected assets using its own funds.Binance also announced that it would gradually reopen withdrawals for additional assets and networks.
Crypto This Week: 46 Events in Focus as the US Election Take Center Stage
Bitcoin started the week of November 2–8 at around $78,000. Ether traded near $2,280, while last week’s Binance hack continued to weigh on market risk appetite. Binance customers withdrew a net $3.64 billion after the exchange came back online. The company said it had replenished 95% of the $6.3 billion in stolen assets and was sourcing the remaining low-liquidity tokens from the market.The US midterm elections and Friday’s employment report lead the week’s macroeconomic agenda. Central banks in Australia, Sweden, Norway and the United Kingdom will also announce interest-rate decisions.US elections could shape the direction of crypto regulationThe US midterm elections will take place on Tuesday, November 3. Voters will decide all 435 seats in the House of Representatives and approximately one-third of the Senate.The new balance of power in Congress will directly affect the digital asset market. The Senate failed to secure the 60 votes required to advance the CLARITY Act in September.The crypto industry spent approximately $176 million across more than 100 races during the election cycle. Groups backed by Coinbase, Ripple and Andreessen Horowitz want the new Congress to reconsider the market structure bill.A change of majority in either chamber could reshape debates over SEC and CFTC authority, stablecoin interest payments and crypto companies’ access to banking services.US employment report will test Fed expectationsThe US Bureau of Labor Statistics will publish September’s JOLTS job openings data on Tuesday, November 3, at 6:00 p.m. Türkiye time. Markets expect approximately 7.1 million openings, following the previous reading of 7.08 million.The ADP private-sector employment report will arrive on Wednesday, November 4, at 4:15 p.m. Türkiye time. The market expects an increase of 75,000 jobs.The ISM services PMI will follow at 6:00 p.m. on the same day. Economists expect a reading of around 54.8, compared with 54.9 previously.The week’s main data release will be the US employment report on Friday, November 6, at 4:30 p.m. Türkiye time. The report will cover October employment, unemployment and wage changes.Markets expect nonfarm payrolls to increase by approximately 63,000–65,000. Employment rose by 29,000 in September, while the unemployment rate stood at 4.2%.Strong employment and wage results could support expectations that the Fed will maintain tight monetary policy for longer. A weak report could lower the dollar and Treasury yields, giving Bitcoin short-term room to recover.Four central banks will announce interest-rate decisionsThe Reserve Bank of Australia will announce its decision on Tuesday, November 3, at 6:30 a.m. Türkiye time. Its press conference will begin at 7:30 a.m.Markets expect the RBA to raise its policy rate by 25 basis points to 4.85%. The bank is assessing the risk that higher oil prices could become embedded in inflation expectations.Sweden’s Riksbank will publish its decision and monetary policy update on Wednesday, November 4, at 11:30 a.m. Türkiye time. Markets expect the bank to raise its rate from 1.75% to 2%.Norges Bank will announce its decision on Thursday, November 5, at noon Türkiye time. The bank could leave its current policy rate unchanged at 4.50%.The Bank of England’s decision will arrive at 3:00 p.m. on the same day. According to Reuters, economists expect the BoE to raise its rate from 3.75% to 4%.Governor Andrew Bailey’s press conference will begin at 3:30 p.m. New inflation projections and guidance for 2027 could influence sterling and global risk appetite.Euro-area inflation may have accelerated againEurostat will publish its flash inflation estimate for October on Wednesday, November 4, at 1:00 p.m. Türkiye time. Annual inflation stood at 3.8% in September.Market forecasts suggest the rate could rise to between 3.9% and 4%. Economists expect core inflation to remain near 2.5%.Higher energy costs are complicating the European Central Bank’s interest-rate outlook. A result above expectations could support the euro and place upward pressure on global bond yields.Strait of Hormuz risks keep oil prices elevatedBrent crude remained near $110 despite falling more than 3% on Monday. West Texas Intermediate traded at approximately $101.Iranian and Qatari officials are continuing talks aimed at ending the US-Iran conflict. The Strait of Hormuz could reopen within two days if the parties accept the proposal under discussion.A breakdown in talks could increase the geopolitical risk premium in oil prices. Energy costs could also affect Bitcoin and altcoins through central banks’ interest-rate decisions.Base will upgrade as Horizen L3 shuts downBase will activate its Denim mainnet upgrade on Thursday, November 5, at 9:00 p.m. Türkiye time. The network is expected to remain operational during the upgrade.Node operators must upgrade to base/base v1.5.1. Denim will reduce Base’s block time to 200 milliseconds.The change will make Horizen L3, which settles on Base, incompatible with the network. Horizen will therefore shut down its L3 permanently.Users must move their assets to Base by 4:00 p.m. Türkiye time on November 4. USDC.e balances are not covered by the automatic return process, making it important for users to bridge these tokens before the deadline.Initia started the week by bringing its L1 and rollups back online. The project deployed an audited MoveVM patch and restored the reserves backing AUSD0, USDC.n and WETH following last month’s exploit.Some calendars list Zcash NU7 as an event for this week. Zcash’s official page shows that the mainnet activation height has not been set, so NU7 has been excluded from this calendar.Coinbase will complete a token migrationCoinbase will conduct its AERO and VELO migration between November 2 and 4. Existing AERO balances will convert to the new AERO token at a one-to-one ratio.VELO balances will convert at approximately 0.044 AERO per token. Coinbase will temporarily disable AERO and VELO transfers during the migration.KuCoin will list five tokenized assets representing shares in Amazon, Coinbase, Intel, Meta and Nvidia on November 2. The first three pairs will open at 1:00 p.m. Türkiye time, followed by INTCX and NVDAX at 2:00 p.m.KuCoin and Bitget will conduct extensive delistingsKuCoin will remove 23 tokens from its spot market on November 5 at 11:00 a.m. Türkiye time. The list includes ANOME, ATA, BCUT, BULLA, CESS, COMMON, D, DOLO, ECHO, ES, EYWA, GAIA, ION, LADYS, NOON, PIGGY, SAROS, HIPPO, SUNDOG, SUP, U2U, VAYLA and XTER.The exchange plans to keep withdrawals open until December 7 at 11:00 a.m. Türkiye time. KuCoin says it may bring this deadline forward if the affected networks stop operating.Bitget will remove CHILLGUY, ZIG, BRETT, FOGO, WEMIX and AL spot pairs on Friday, November 6, at 1:00 p.m. Türkiye time. The decision covers spot trading through unified accounts.Bybit will end transfer support for several stablecoin networks at 11:00 a.m. on the same day. The exchange will stop USDC deposits and withdrawals through Sei and Hedera, along with USDT transfers through Berachain, Kava and Kaia.OKX will end withdrawal support for GODS, PRCL and DUCK on Saturday, November 7, at 11:00 a.m. Türkiye time. The exchange removed these tokens from its spot market in August, so this development does not represent a new delisting decision.ENS governance vote will concludeThe ENS community’s Governor Nexus Update vote will end on Tuesday, November 3, at 9:15 p.m. Türkiye time. The proposal aims to prepare a new governance contract based on OpenZeppelin v5.6.1 for an external audit.The Arbitrum community is also discussing a system that would allow new Stylus contracts to activate after passing a limited security audit. The current stage does not create binding onchain execution.Approval would not allow new contracts to activate on the same day. Arbitrum would first need to complete contract development, an independent audit and a final onchain vote.HYPE’s theoretical unlock value exceeds $866 millionBitway will unlock approximately 101.6 million BTW on November 2. Based on a preparation-time price of $1.01, the unlock is worth approximately $102.6 million.Momentum’s schedule shows 252.7 million MMT unlocking on November 4. The estimated $31.6 million value is based on a projected schedule and exceeds the amount of MMT currently in circulation.Hyperliquid’s theoretical schedule shows approximately 9.92 million HYPE for November 6. At the current price, this creates an upper limit of roughly $866.5 million.A significant difference exists between HYPE tokens becoming eligible and the amount holders actually claim. Tokenomist currently tracks approximately $15.8 million as committed, meaning the full theoretical amount may not enter the market.The schedule lists 888.89 million STABLE worth approximately $23.9 million. Tracking platforms place the release between late November 7 and November 8, creating some uncertainty over the exact time.Avalanche will release approximately 1.67 million AVAX allocated to the foundation on November 8. At the current price of $8.60, the unlock is worth around $14.4 million.Circle and Bitcoin miners will report earningsCipher Digital will publish its third-quarter results before the US market opens on Monday, November 2. Its conference call will begin at 4:00 p.m. Türkiye time.Circle will discuss its third-quarter results on Wednesday, November 4, at 4:00 p.m. Türkiye time. USDC circulation, reserve income and payments to distribution partners will be among the key figures to watch.Hut 8 will review its results at 4:30 p.m. on the same day. Investors will focus on Bitcoin production, the company’s energy portfolio and investments in AI data centers.Core Scientific will hold its earnings call on November 5 at 4:30 p.m. Türkiye time. TeraWulf will follow on November 6 at 4:00 p.m.Mining operations and high-density data center contracts will stand out in both companies’ results.Devcon will begin in MumbaiThe Ethereum Foundation will hold Devcon 8 in Mumbai from November 3 to 6. The program will focus on protocol engineering, privacy, governance and decentralized applications.ETHGlobal Mumbai will take place in the same city from November 5 to 7. The hackathon will give developers an opportunity to build new Ethereum applications during Devcon week.Bitcoin Amsterdam will take place at the SugarFactory on November 5–6. The program will bring together capital allocators, Bitcoin developers and European policymakers.Hong Kong FinTech Week will run from November 2 to 6. Cosmoverse’s Hong Kong Digital Asset Summit will also take place on November 5–6, focusing on institutional digital assets and tokenization.This week’s 46-event crypto calendarAll times are Türkiye time, UTC+3.November 2, 1:00 p.m.: AMZNX, COINX and METAX trading begins on KuCoin.November 2, 2:00 p.m.: INTCX and NVDAX trading begins on KuCoin.November 2, 4:00 p.m.: Cipher Digital’s third-quarter earnings call.November 2, 6:00 p.m.: US ISM manufacturing PMI; forecast 54.7, previous 54.5.November 2: Approximately $102.6 million in BTW unlocks.November 2–4: Coinbase’s AERO and VELO migration.November 2–6: Hong Kong FinTech Week.November 3, 6:30 a.m.: Reserve Bank of Australia interest-rate decision.November 3, 7:30 a.m.: RBA press conference.November 3, 11:00 a.m.: KuCoin closes deposits for 23 tokens.November 3, 6:00 p.m.: US JOLTS job openings for September.November 3: US midterm elections.November 3, 9:15 p.m.: ENS Governor Nexus Update vote concludes.November 3–6: Devcon 8 Mumbai.Around November 3: Binance’s estimated publication date for its complete zero-knowledge proof of reserves.November 4, 11:30 a.m.: Riksbank interest-rate decision.November 4, 1:00 p.m.: Riksbank press conference.November 4, 1:00 p.m.: Flash euro-area inflation for October.November 4, 4:00 p.m.: Circle’s third-quarter earnings call.November 4, 4:00 p.m.: Horizen L3 bridge closes.November 4, 4:15 p.m.: US ADP private-sector employment report.November 4, 4:30 p.m.: Hut 8’s third-quarter earnings call.November 4, 4:30 p.m.: US trade balance for September.November 4, 6:00 p.m.: US ISM services PMI.November 4: Estimated $31.6 million MMT unlock.November 5, 11:00 a.m.: KuCoin removes 23 tokens from its spot market.November 5, noon: Norges Bank interest-rate decision.November 5, 3:00 p.m.: Bank of England interest-rate decision.November 5, 3:30 p.m.: BoE Governor Andrew Bailey’s press conference.November 5, 4:30 p.m.: US weekly initial jobless claims.November 5, 4:30 p.m.: US third-quarter productivity and labor costs.November 5, 4:30 p.m.: Core Scientific’s third-quarter earnings call.November 5, 9:00 p.m.: Base Denim mainnet upgrade.After 9:00 p.m. on November 5: Horizen L3 stops processing transactions.November 5–6: Bitcoin Amsterdam.November 5–6: Hong Kong Digital Asset Summit.November 5–7: ETHGlobal Mumbai.November 6, 11:00 a.m.: Bybit ends support for selected USDC and USDT networks.November 6, 1:00 p.m.: Bitget removes six spot pairs.November 6, 4:00 p.m.: TeraWulf’s third-quarter earnings call.November 6, 4:30 p.m.: US nonfarm payrolls, unemployment and wage data.November 6, 6:00 p.m.: Preliminary University of Michigan consumer sentiment.November 6: Monthly eligibility date for HYPE allocated to core contributors.November 7, 11:00 a.m.: OKX ends withdrawals for GODS, PRCL and DUCK.Late November 7–November 8: Approximately $23.9 million STABLE supply event.November 8: Approximately $14.4 million AVAX unlock.The US election results, Friday’s employment report and central banks’ response to energy-driven inflation could determine the market’s direction. Binance withdrawal activity and its reserve replenishment process will remain the most important crypto-specific confidence indicators.
What Is Starknet (STRK)?
Ethereum remains the most widely used smart contract network thanks to its security and decentralization. However, rising transaction fees during busy periods and limited capacity push users toward faster, cheaper alternatives. Starknet is one of the Layer 2 networks addressing this problem through zero-knowledge proofs. At the center of the network is STRK, a token used for transaction fees, staking, and governance.Starknet’s Definition and OriginsStarknet is a Layer 2 network built on Ethereum. It processes transactions outside the mainnet and submits their results to Ethereum alongside cryptographic proofs. This structure is known as a “ZK rollup.” Users benefit from Ethereum’s security while paying significantly lower fees.StarkWare, the company developing the network, uses its STARK (Scalable Transparent Argument of Knowledge) proof system to verify transactions. STARKs can demonstrate that thousands of transactions were processed correctly through a single compact proof. Ethereum only needs to verify that proof, without executing each transaction again.STRK is Starknet’s native token. It pays transaction fees, supports network security through staking, and enables participation in governance decisions.How Does Starknet Work?A component called the “sequencer” first orders transactions submitted by users and packages them into blocks. The “prover” then generates a STARK proof demonstrating that these blocks were processed correctly. The proof and state updates are submitted to a verifier smart contract on Ethereum.Once the contract accepts the proof, Starknet’s transactions become finalized under Ethereum’s security.This model differs significantly from optimistic rollups. Networks such as Arbitrum and Optimism assume transactions are valid by default and provide a challenge window of approximately seven days. ZK rollups establish validity through mathematical proofs, eliminating the need for this challenge period.Another distinctive feature is Starknet’s programming language. Smart contracts on the network are written in Cairo, which StarkWare developed for provable computation.Starknet also supports account abstraction natively. Every wallet is a smart contract account, enabling features such as multisignature authorization, social recovery, and fee payments in different tokens directly at the wallet level.How Can You Transfer Assets to Starknet?Users can transfer assets from Ethereum to Starknet through the official StarkGate bridge. In the StarkGate interface, they select Ethereum as the source network and Starknet as the destination, then enter the token and amount they want to transfer. Withdrawals from Starknet to Ethereum are completed after the proof is verified on Ethereum. The announcement at the top of StarkGate indicates that the strkBTC bridge, used to bring Bitcoin to Starknet, is also live. Assets transferred to Starknet can be held in compatible wallets such as Ready, formerly Argent, and Braavos. MetaMask users can connect to the network through the Starknet Snap extension.Starknet’s History: Key MilestonesEli Ben-Sasson, Uri Kolodny, Alessandro Chiesa, and Michael Riabzev founded StarkWare in Israel in 2018. Ben-Sasson is among the researchers who established the academic foundations of the STARK proof system. The company’s first product was StarkEx, which provides application-specific scaling.Projects such as dYdX, Immutable X, and Sorare used StarkEx infrastructure in its early years.StarkWare developed Starknet to create an open, general-purpose network. Starknet Alpha launched on Ethereum mainnet in November 2021. The company reached a $2 billion valuation in its Series C round that same month.In May 2022, StarkWare completed a $100 million Series D funding round at an $8 billion valuation.STRK’s Launch and AirdropSTRK entered circulation on February 20, 2024. In the initial phase, the Starknet Foundation distributed more than 700 million STRK to approximately 1.3 million wallets. The distribution program aims to deliver a total of 1.8 billion STRK to users and community members over the longer term.The airdrop extended beyond Starknet users. Early users of StarkEx applications, Ethereum stakers, Protocol Guild members, and authors of Ethereum Improvement Proposals (EIPs) were also included. The claiming process attracted strong interest within its first few minutes.After launch, the unlock schedule for investor and team tokens sparked debate. Following community criticism, StarkWare spread the first major unlock across monthly installments.Staking and Bitcoin IntegrationStarknet launched the first phase of STRK staking in November 2024. With the second phase, introduced in June 2025, validators began actively participating in network operations.In August 2025, the community approved the SNIP-31 proposal with 93.6% support. The proposal paved the way for Bitcoin to participate in Starknet’s consensus process. Approved BTC assets, including Wrapped Bitcoin, Liquid Bitcoin, tBTC, and SolvBTC, can be staked alongside STRK.In early October 2026, Starknet announced new incentives for its Bitcoin-pegged asset, strkBTC. These included covering bridge fees for the first 100 BTC and offering STRK staking rewards.Privacy and the Layer 1 DebateIn 2026, StarkWare introduced STRK20, a privacy framework enabling confidential transfers and shielded token balances. “Shadow Accounts,” a feature working with STRK20 pools, launched in late October 2026. It allows users to conduct DeFi transactions without directly linking them to their main wallets.However, balances and transactions remain visible on-chain; the privacy provided is limited to the identity level.One of the most significant recent developments is the Layer 1 debate. On October 8, 2026, StarkWare CEO Eli Ben-Sasson announced that the company was considering turning Starknet into a Layer 1 network independent of Ethereum. Ben-Sasson argues that Ethereum’s 2029 target for addressing quantum computing threats is too late and has set 2027 as Starknet’s target for quantum resistance.In a community vote held between October 15 and 22, more than 93.5% of voting power supported launching a research process. This vote covered only research into the transition. STRK holders would need to vote again before an actual transition could proceed.The Starknet Foundation stated that STRK would remain the native token regardless of the outcome and that no new token would be issued.How Does the STRK Token Work?STRK has three primary functions on Starknet:Transaction fees: Gas fees on Starknet are paid in STRK.Staking: Validators stake STRK to help secure the network. Token holders can also earn rewards by delegating to validators.Governance: STRK holders vote on protocol upgrades and improvement proposals known as SNIPs.How Does STRK Staking Work?Becoming a validator on Starknet requires locking at least 20,000 STRK and running a synchronized full node. Validators submit an attestation during each epoch to confirm network activity. A validator that fails to submit this attestation receives no rewards for that epoch.Users who do not want to operate infrastructure can delegate STRK or approved BTC assets to a validator of their choice. Validators charge a commission on delegation rewards at a rate they set. Withdrawing staked tokens on mainnet requires a seven-day waiting period, during which no rewards accrue.STRK accounts for 75% of the network’s consensus weight, while BTC accounts for 25%. This cap aims to preserve STRK’s central role while allowing Bitcoin to contribute to network security. Staking rewards are paid in newly minted STRK, with the issuance rate varying according to the proportion of supply staked. According to the Voyager staking dashboard, approximately 1.79 billion STRK and 640.68 BTC were staked on the network as of November 2, 2026. A total of 136 validators and 63,769 delegators were participating in network security.The dashboard showed a maximum annual yield of 7.10% for STRK staking and 3.63% for BTC staking. Returns vary depending on the validator, commission rate, and total amount staked.Users can connect their wallets to Voyager to compare validators by commission rate and staked amount, as well as track their own stakes and rewards.STRK Supply and TokenomicsSTRK’s initial supply was set at 10 billion tokens. Because staking rewards are paid through new token issuance, supply increases over time. According to market data, total supply stood at approximately 10.18 billion STRK as of November 2, 2026, with 7.66 billion STRK in circulation.The initial allocation was as follows:GroupAllocationEarly contributors20.04%Investors18.17%Grants and development partners12.93%StarkWare10.76%Foundation strategic reserves10%Community provisions (airdrop)9%Community rebates9%Foundation treasury8.10%Donations2%Tokens allocated to investors and early contributors unlock gradually. Between April 2024 and March 2025, 64 million STRK unlocked each month. The monthly amount increased to 127 million STRK in April 2025, with this schedule set to continue until March 15, 2027.These tokens enter circulation on the 15th of each month. They could put pressure on the price if demand fails to grow at the same pace.During the lockup period, these tokens cannot be transferred, sold, or used as collateral. However, their holders can delegate their voting power in governance processes.STRK Coin Price and Market DataSTRK was trading at $0.0427 as of November 2, 2026, ranking 100th by market capitalization. The token declined 3.18% over the preceding 24 hours and 6.08% over the previous seven days.MetricValueCurrent price$0.0427Market capitalization$327.5 millionFully diluted valuation$434.8 million24-hour trading volume$31.7 millionCirculating supply7.66 billion STRKAll-time high$4.41All-time low$0.0222 The all-time chart shows that STRK reached its record high of $4.41 on its launch day in February 2024 before entering a prolonged downtrend. The token briefly recovered above $0.70 in late 2024. It then gradually declined throughout 2025, falling below $0.10.After reaching an all-time low of $0.0222 in 2026, STRK experienced a brief, sharp rally in October amid strkBTC incentives and the Layer 1 debate. The token subsequently surrendered a substantial portion of those gains. Its current price is approximately 99% below its all-time high and around 92% above its all-time low.Monthly unlocks of 127 million STRK and further votes concerning the Layer 1 transition are among the main developments that could influence the price in the coming period.Why Does Starknet Matter?Starknet stands out as one of the first projects to use zero-knowledge proofs in a general-purpose network. STARK proofs do not require a trusted setup ceremony. Because they rely on hash functions, they are considered more resistant to quantum computers than other proof systems.Native account abstraction also provides an important advantage for the user experience. Features such as social recovery, session keys, and batched transactions, which are not yet widespread on Ethereum, are available by default in Starknet wallets.Bitcoin staking, strkBTC, and the STRK20 privacy framework represent efforts to expand Starknet’s role. Alongside scaling Ethereum, the network aims to provide infrastructure for Bitcoin liquidity and privacy-focused applications.Where Can You Buy STRK?STRK trades on all four major exchanges accessible to users in Türkiye: Binance, Binance TR, BtcTurk, and Paribu. OKX, Bybit, Coinbase, and Gate are among the other major exchanges offering STRK trading.STRK is available on both Starknet and Ethereum. When withdrawing from an exchange, make sure the selected network matches a network supported by the destination wallet. Withdrawals to Starknet require a compatible wallet such as Ready or Braavos.Starknet’s Team and CommunityEli Ben-Sasson is StarkWare’s CEO and co-founder. Before StarkWare, he worked as a computer science professor at the Technion, Israel Institute of Technology, and co-authored the Zerocash paper that laid the foundations for Zcash. Uri Kolodny, Alessandro Chiesa, and Michael Riabzev are also members of the founding team.StarkWare develops the network, while the independent Starknet Foundation oversees token distribution, ecosystem grants, and governance processes.Paradigm led StarkWare’s $30 million Series A round in 2018 and its $75 million Series B round in 2021. Sequoia Capital, Pantera Capital, Intel Capital, and Coinbase Ventures were also among its early investors. The Series D round, led by Greenoaks Capital and Coatue, brought the company’s total funding to $262 million.Token Unlock, Competition, and Transition RisksSTRK’s biggest risk lies on the supply side. A total of 127 million STRK enters circulation each month until March 2027. Newly minted staking rewards also increase the total supply.The token’s 99% decline from its all-time high indicates that this supply pressure has been reflected in its price.The Layer 2 market is also highly competitive. Arbitrum, Base, Optimism, ZKsync, and Linea compete directly with Starknet for users and liquidity. Fewer developers are familiar with Cairo than with Ethereum’s Solidity, which is seen as a factor limiting the ecosystem’s growth.Centralization is another important issue. Starknet’s sequencer and prover components are still largely operated by StarkWare. The gradual development of the staking system aims to decentralize this structure.The Layer 1 debate presents both opportunities and uncertainty. Moving to an independent network could change the security assumptions Starknet inherits from Ethereum. The scope, timing, and technical details of any decision remain unclear.Frequently Asked Questions (FAQ)Below are answers to some frequently asked questions about Starknet (STRK).What is Starknet, and when did it launch? Starknet is an Ethereum Layer 2 network that uses STARK proofs. It launched on Ethereum mainnet in November 2021. The STRK token entered circulation on February 20, 2024.What is STRK coin used for? STRK pays transaction fees on Starknet, supports network security through staking, and enables participation in governance votes.What is a ZK rollup? A ZK rollup is a scaling solution that processes transactions outside the mainnet and submits zero-knowledge proofs to establish their validity on the mainnet. Starknet is one of the networks using this model.How can you stake STRK? STRK holders can delegate their tokens to a validator through the Voyager staking dashboard or wallet applications. Withdrawing staked tokens requires a seven-day waiting period.What is STRK’s supply? STRK’s initial supply was 10 billion tokens. Because staking rewards are paid through new issuance, total supply reached approximately 10.18 billion STRK as of November 2, 2026. Circulating supply stood at 7.66 billion STRK.Will Starknet become a Layer 1? In October 2026, the Starknet community approved research into a transition to an independent Layer 1. No decision has been made on the transition itself, and another vote would be required.Which Turkish exchanges list STRK? STRK trades on Binance TR, BtcTurk, and Paribu. Binance’s global platform also offers the STRK/USDT trading pair.Is Starknet a suitable investment? Whether STRK is a suitable investment depends on your risk profile and research. Bitcoin staking, privacy solutions, and work on quantum resistance are potential positive developments to monitor. Monthly token unlocks, Layer 2 competition, and uncertainty surrounding the Layer 1 proposal should also form part of your assessment.Follow the JR Kripto Guide series for updates on the Starknet ecosystem and the Layer 1 research process.
What Is LayerZero (ZRO)?
What Is LayerZero (ZRO)?Blockchains operated like disconnected islands for a long time. An application on Ethereum could not read data on Solana, while a token on BNB Chain could only move to Arbitrum through bridges. LayerZero provides infrastructure that carries messages between these networks, allowing applications on different chains to communicate. At the center of its ecosystem is ZRO, a token with roles ranging from governance to securing the upcoming Zero network.LayerZero’s Definition and OriginsLayerZero is an interoperability protocol that enables data and value transfers between different blockchains. Applications built on LayerZero allow developers to send messages from a smart contract on one chain to a contract on another.These messages carry more than tokens. They can contain transfer instructions, voting results, price data, or any other contract call. For this reason, LayerZero describes itself as a cross-chain messaging layer.ZRO is the native token of the LayerZero ecosystem. It supports protocol governance and will serve staking, transaction fee, and governance functions on the Zero blockchain, whose mainnet is scheduled to launch on November 30, 2026.What Problem Does LayerZero Solve?The crypto ecosystem did not grow on a single network. Liquidity, users, and applications spread across dozens of chains. This fragmentation often forces users to use multiple bridges, wallets, and transactions to move their assets between networks.Bridges have also been among the most frequently targeted infrastructure components in crypto. Many relied on a single validator group or a centralized key structure, creating a single point of failure. LayerZero aims to distribute this risk by allowing each application to configure its own verification process.How Does LayerZero Work?LayerZero’s core architecture consists of smart contracts called endpoints, deployed on each chain. When an application wants to send a message, it submits it to the endpoint on the source chain. Two separate roles handle verification and execution before the message completes its journey:DVN (Decentralized Verifier Network): Independent verifier networks that confirm a message originated on the source chain. Each application selects which DVNs it uses and how many must approve a message.Executor: The component that executes the verified message on the destination chain and covers the gas fee.This modular structure launched with LayerZero V2 in January 2024. Applications can combine DVNs operated by organizations such as Google Cloud, Polyhedra, and Nethermind. Because security depends on these choices, the model also introduces configuration risks. The KelpDAO attack in April 2026 provided a concrete example.Every message sent through LayerZero can be tracked using the protocol’s official explorer, LayerZero Scan. Users can check the status of a bridge transaction by entering a transaction hash or wallet address. According to LayerZero Scan, the protocol had processed more than 163.4 million messages and transferred $319.4 billion in total value as of October 31, 2026. It operates across 181 active chains, with more than 852 applications and over 1,076 omnichain tokens using its infrastructure.What Is an Omnichain Fungible Token (OFT)?OFT, short for Omnichain Fungible Token, is LayerZero’s token standard. Traditional bridges lock a token on the source chain and mint a wrapped version on the destination chain. Under the OFT model, tokens are burned on the source chain and minted again on the destination chain. This keeps the total supply consistent and avoids creating separate wrapped versions of the same token across networks.Tether’s multichain USDT0, Ethena’s USDe, and many project tokens use this standard. On LayerZero Scan, USDT0 ranks immediately behind Stargate among the applications generating the most messages.LayerZero’s History: Key MilestonesBryan Pellegrino, Ryan Zarick, and Caleb Banister founded LayerZero Labs in 2021. The protocol launched its mainnet in March 2022. Its first major application, the cross-chain liquidity bridge Stargate, went live that same month.The company completed a $135 million funding round in 2022, followed by a $120 million round at a $3 billion valuation in April 2023. Investors included Andreessen Horowitz (a16z) and Sequoia Capital. LayerZero V2, released in January 2024, introduced its modular, DVN-based security architecture.ZRO’s Launch and the Proof-of-Donation AirdropZRO launched on June 20, 2024. The LayerZero Foundation allocated 85 million ZRO, equivalent to 8.5% of the total supply, to the first airdrop. Approximately 1.28 million wallets qualified.The airdrop’s most controversial feature was its “proof of donation” model. Users had to donate $0.10 for every ZRO they claimed. Donations went to Protocol Guild, which supports Ethereum core developers, and the LayerZero Foundation pledged to match contributions up to $10 million.Before the airdrop, the team also invited users to self-report sybil wallets as part of its efforts to identify them. The process drew mixed reactions from the community.ZRO began trading on major centralized exchanges, including Binance, at launch.The Stargate AcquisitionThe LayerZero Foundation submitted a proposal to acquire Stargate in the summer of 2025. Despite last-minute interest from Wormhole, Axelar, and Across, the proposal passed a Stargate DAO vote in August 2025 with approximately 95% support. The deal was valued at between $110 million and $120 million at the time.Under the agreement, Stargate DAO was dissolved, and STG holders became eligible to exchange their tokens at a rate of 1 STG = 0.08634 ZRO. For the first six months, Stargate revenue was split between veSTG holders and ZRO buybacks. According to LayerZero, all Stargate revenue has gone toward ZRO buybacks since April 2026.Stargate is the application generating the most messages on LayerZero Scan. Through its interface, users can select source and destination networks and move assets such as USDC, USDT, and ETH between chains. The Zero Blockchain and ATLASLayerZero announced its own Layer 1 blockchain, Zero, on February 10, 2026. The company claims the network’s heterogeneous architecture can scale to as many as 2 million transactions per second. This remains a pre-mainnet claim; actual performance will only become clear after launch.The list of collaborators attracted particular attention. Citadel Securities, U.S. clearing and settlement organization DTCC, NYSE parent company Intercontinental Exchange (ICE), and Google Cloud are working with LayerZero to explore how Zero could support traditional market infrastructure. Citadel Securities and Ark Invest also made strategic investments by purchasing ZRO, while Tether announced an investment in LayerZero Labs on the same day.On October 20, 2026, LayerZero announced that Zero’s mainnet and its first application, ATLAS, would launch on November 30. ATLAS is designed as “headless exchange” infrastructure without its own user interface. It combines order matching, clearing, settlement, and risk management in a single engine, leaving the interface to third-party trading platforms.Initially, Open ATLAS, which targets crypto applications, is expected to support more than ten trading platforms.How Does the ZRO Token Work?ZRO’s primary use today is governance. Token holders can vote in referendums on important issues, including protocol fees. Its role will expand with the launch of the Zero mainnet.According to LayerZero, ZRO will serve three functions on Zero:Staking: Users will stake ZRO to help secure the network.Transaction fees: ZRO will pay gas fees for transactions on Zero.Governance: ZRO holders will vote on network parameters and protocol decisions.The token also has a direct role in ATLAS. Trading platforms will be eligible for fee rebates ranging from 20% to 65%, depending on the amount of ZRO they stake and their trading volumes. After rebates, 75% of the remaining fees will go toward ZRO buybacks and burns, while 25% will go to market creators.ZRO Supply and TokenomicsZRO has a total and maximum supply of 1 billion tokens. According to market data, approximately 405.2 million ZRO were in circulation as of October 31, 2026. This represents slightly more than 40% of the total supply.The allocation announced at launch was as follows:GroupAllocationCommunity (LayerZero Foundation)38.3%Strategic partners32.2%Core contributors25.5%Repurchased tokens4%The distribution has changed over time. In September 2025, the LayerZero Foundation repurchased 50 million ZRO from strategic partners. These tokens, together with the Foundation’s other remaining locked tokens, were locked again until the Zero mainnet launch. The Foundation also announced that it had no plans for another airdrop from its token allocation.According to Tokenomist, the community’s share of the current distribution has risen to 43.3%, while the strategic partners’ share has fallen to 27.2%. Locked tokens are entering circulation through monthly unlocks until 2027.The most recent unlock took place on October 20, 2026, releasing approximately 23.6 million ZRO. The next unlock, scheduled for November 20, 2026, is expected to release around 23.3 million ZRO. These monthly additions to circulating supply could put pressure on the price if demand fails to grow at a similar pace.The Fee Switch and Buyback MechanismOne of the most widely discussed aspects of LayerZero’s tokenomics is its “fee switch” voting process. If activated, the protocol would charge a fee on every message sent, using the revenue to buy back and burn ZRO.Three referendums have taken place so far, in December 2024, June 2025, and December 2025. More than 96% of participants voted in favor each time. However, turnout reached only 10.96%, 13.01%, and 3.71%, respectively.Since the second referendum, a dynamic quorum with a minimum threshold of 20% has applied. Low participation has prevented the mechanism from being activated.Meanwhile, two separate sources have supported ZRO buybacks. All Stargate revenue has gone toward ZRO buybacks since April 2026. LayerZero Labs also announced that it had purchased $10 million worth of ZRO on the market, although it has not provided a fixed schedule for future purchases.ZRO Coin Price and Market DataAccording to JR Kripto, ZRO was trading at $1.71 as of October 31, 2026, ranking 77th by market capitalization. The token gained 4.62% over the preceding 24 hours.MetricValueCurrent price$1.71Market capitalization$693.8 millionFully diluted valuation$1.71 billion24-hour trading volume$193.9 millionCirculating supply405.2 million ZROAll-time high$7.47All-time low$0.707 The all-time price chart shows that ZRO fluctuated between $3 and $5 after launch. The token reached an all-time high of $7.47 in December 2024 before gradually declining throughout 2025. After falling below $1 in mid-2026, the price recovered toward $1.70 in recent weeks.The current price sits approximately 77% below its all-time high and around 142% above its all-time low. Monthly token unlocks and the Zero launch on November 30 are among the main developments that could influence its price in the coming period.You can track ZRO’s live price, technical analysis, and exchange trading pairs on JR Kripto’s LayerZero page.Why Does LayerZero Matter?LayerZero turns cross-chain communication into general-purpose infrastructure on which developers can build applications. Stablecoin issuers, DeFi protocols, and gaming projects can use the same messaging layer to circulate their tokens across dozens of networks while maintaining a unified supply.The OFT standard plays an important role here. Its burn-and-mint model reduces the need for users to distinguish between separate wrapped versions of the same token on different networks.With Zero, the project is expanding from connecting other blockchains to operating its own network. Its work with traditional financial institutions such as Citadel Securities, DTCC, and ICE shows that LayerZero is also seeking a role in tokenized assets and around-the-clock trading infrastructure.Where Can You Buy ZRO?ZRO trades on all four major exchanges accessible to users in Türkiye: Binance, Binance TR, BtcTurk, and Paribu. According to market data, Binance’s ZRO/USDT pair has the highest trading volume. Gate, Bybit, OKX, and Coinbase are among the other major exchanges offering ZRO trading.Because ZRO is designed as an OFT, it can exist across multiple networks, including Ethereum, Arbitrum, Base, and BNB Chain. When withdrawing from an exchange, make sure the selected network matches a network supported by the destination wallet. Available trading pairs and withdrawal networks can vary by exchange.LayerZero’s Team and InvestorsBryan Pellegrino is the CEO of LayerZero Labs, while Ryan Zarick serves as CTO. The third co-founder, Caleb Banister, also contributed to the development of its technical infrastructure. The project operates through two separate entities: LayerZero Labs, which develops the protocol, and the LayerZero Foundation, which oversees the token and ecosystem.Andreessen Horowitz and Sequoia Capital were among its early investors. In 2026, Citadel Securities and Ark Invest joined by purchasing ZRO, while Tether invested in LayerZero Labs.Security, Token Unlock, and Competition RisksLayerZero’s biggest risk lies in its security configuration. The protocol allows applications to choose their own verifiers. Misusing this flexibility can result in substantial losses.On April 18, 2026, KelpDAO’s rsETH bridge suffered an attack involving approximately $292 million. Kelp’s LayerZero configuration relied on a single DVN, operated by LayerZero Labs, to approve messages. Attackers manipulated the RPC nodes used by that DVN and succeeded in getting a fraudulent message approved.Following the incident, LayerZero stopped signing messages for single-verifier, or 1-of-1, configurations and introduced a requirement for multiple independent DVNs in its default settings.Monthly token unlocks are another factor to monitor closely. Approximately 23 million ZRO entering circulation each month could create selling pressure during periods when buyback programs remain limited.Competition is also a significant risk. Wormhole, Axelar, Chainlink CCIP, and Circle’s CCTP infrastructure operate in the same market. KelpDAO’s decision to move rsETH to Chainlink infrastructure after the attack demonstrated how competitors can gain users during a crisis.Zero, meanwhile, has yet to launch its mainnet. Performance targets such as 2 million transactions per second, along with the commercial results of its work with traditional financial institutions, will need to be assessed after launch.Frequently Asked Questions (FAQ)Below are answers to some frequently asked questions about LayerZero (ZRO):What is LayerZero, and when did it launch? LayerZero is an interoperability protocol that enables messages and value to move between different blockchains. Its mainnet launched in March 2022. The ZRO token launched on June 20, 2024.What is ZRO coin used for? ZRO currently serves as LayerZero’s governance token. It will support staking, gas payments, and governance on the Zero network, which is scheduled to launch on November 30, 2026.Is LayerZero a bridge? LayerZero describes itself as a cross-chain messaging layer. Bridge applications such as Stargate operate on top of LayerZero’s infrastructure.What is the Zero blockchain? Zero is the Layer 1 blockchain announced by LayerZero in February 2026. Its mainnet and first application, ATLAS, are scheduled to launch on November 30, 2026.What is ZRO’s supply? ZRO has a total and maximum supply of 1 billion tokens. Approximately 405.2 million ZRO were in circulation as of October 31, 2026. The remaining tokens are entering circulation through monthly unlocks until 2027.Which Turkish exchanges list ZRO? ZRO trades on Binance TR, BtcTurk, and Paribu. Binance’s global platform also offers the ZRO/USDT trading pair.Is LayerZero a suitable investment? Whether ZRO is a suitable investment depends on your risk profile and research. The Zero launch, ATLAS fee model, and buybacks are potential positive developments to monitor. Monthly token unlocks, security risks, and competition should also form part of your assessment.Follow the JR Kripto Guide series for updates on the LayerZero ecosystem and the Zero launch.#what is layerzero #zro coin #layerzero zro #zro coin price #zero blockchain #omnichain token #stargate #cross-chain bridge
Binance Sets Aside $6.34 Billion to Cover Losses After Hack
Binance said it has allocated more than $6.34 billion in company funds to cover losses caused by the security breach. According to the exchange’s update on Friday, October 30, that amount excludes approximately $3 billion in assets frozen with help from industry partners.The company estimates the total impact of the October 29 attack at around $6.3 billion. While the funds set aside exceed that estimate, purchases of some of the tokens needed to cover the losses are still underway.Binance is buying the remaining tokensAccording to Binance, approximately $5 billion of the allocated funds is already held in the same tokens affected by the attack. The company is acquiring the remaining roughly $1.3 billion through market purchases and over-the-counter transactions.Low liquidity in some tokens could slow those purchases. Settlement times for over-the-counter trades could also cause delays.Setting aside sufficient funds therefore does not mean that Binance has finished acquiring all the necessary tokens. The exchange continues to make purchases to cover users’ holdings in the same assets.The $3 billion in frozen assets is being treated separatelyFollowing the attack, asset issuers and industry partners moved to freeze funds linked to suspicious transfers. Binance said these efforts resulted in approximately $3 billion in frozen assets.According to the statements shared, Tether froze more than $1.57 billion in USDT. Circle took similar action involving over $800 million in USDC.Binance Co-CEO Yi He said Ripple also acted quickly to freeze approximately $200 million in associated funds. World Liberty Financial said it worked with BitGo and other partners to freeze around $27 million in stablecoins and $2 million in its own tokens.Freezing restricts the movement of those assets, but it does not mean the recovery process is complete. Binance is excluding these funds from its allocated reserves while working with law enforcement and industry partners to trace and recover the assets.Initial findings pointed to a DevOps engineer’s laptopBinance Co-CEO Richard Teng said the initial investigation pointed to a compromised laptop belonging to a DevOps engineer. According to Teng, the attacker used that access to reach a service container and submit unauthorized withdrawal transactions.However, Teng stressed that the attack involved a more complex process than simply using one employee’s permissions. He also said the investigation had not attributed responsibility to any individual.In a subsequent update, the exchange said investigators had uncovered additional points of breach. The compromised laptop therefore remains an initial finding concerning how the attack may have started; the full technical causes have yet to be established.Teng also said investigators had so far found no evidence that wallet private keys had been leaked. The company plans to publish a detailed technical report once the investigation is complete and the findings have been verified.Withdrawals remain on holdAccording to Binance’s statements, deposits continue to operate, while withdrawals remain suspended during security work. The company is working on security improvements to its withdrawal service and related addresses.Assessments of who was behind the attack are also ongoing. Blockchain intelligence firm TRM Labs said the incident shares similarities with attacks linked to North Korea, while Binance has not attributed it to a specific group.The exchange said it would publicly verify user assets through its Proof of Reserves system. The funds allocated to cover losses, the completion of token purchases and the recovery of frozen assets remain key developments to track as the process continues.
6 Altcoins in Focus After Binance Hack: FUN Drops Over 60%
FUNToken (FUN) suffered a sharp decline following sales from wallets linked to the Binance hack. At the time of writing, FUN is trading at $0.0032859, down 62.10% over the past 24 hours. In the Uniswap pool used by the attacker, the decline exceeded 90% at one point. The gap between the broader market price and the price in that particular pool highlighted the importance of liquidity. Selling into the small FUN/WETH pool pushed its price down much more sharply than on other trading platforms.Attacker sold 134.1 million FUNAccording to an analysis based on Etherscan data, a wallet labeled “Binance Hot Wallet Exploiter 2” transferred 714.9 million FUN to a new address at 11:28 p.m. UTC on October 29. Three minutes later, the receiving address began selling through the decentralized exchange Uniswap.The wallet executed more than 150 sales over the following hours. One transaction went through PancakeSwap, while the rest took place in the FUN/WETH pool on Uniswap v2. The final sale was recorded at 4:17 a.m. UTC on October 30.In total, the address sold 134.1 million FUN for 111.5 ETH, worth approximately $250,000. Based on an earlier valuation shared by Joshua Frank, co-founder and CEO of The Tie, the tokens sold had a paper value of around $1.17 million.The attacker therefore captured only about 21% of that estimated value. As the sales rapidly drove down the price, the gap widened between the displayed value of the wallet’s holdings and the amount that could actually be recovered through selling.Small liquidity pool accelerated the declineAccording to GeckoTerminal data, FUN’s price in the pool used by the attacker fell from approximately 0.0000037 WETH to 0.00000017 WETH. That represented a decline of more than 90% in that particular trading pool.The reported figures put the pool’s total liquidity at around $16,000 after the sales. Roughly half consisted of FUN, with the other half held in WETH, a tokenized version of ether.Uniswap pools operate differently from the buy and sell orders used on centralized exchanges. When a user deposits FUN into the pool and withdraws WETH in return, the balance between the two assets changes, and the price adjusts accordingly.The smaller the pool, the greater the price impact of selling. FUN’s collapse in this particular pool therefore does not mean the token lost the same percentage of its value across every platform.The latest price display puts FUN’s 24-hour trading range between $0.0024415 and $0.0088741. Although its price of $0.0032859 is above the daily low, the 62.10% decline illustrates the scale of the selling pressure.Wallet still holds 580.8 million FUNThe address reportedly retained 580.8 million FUN after the sales. According to Etherscan data, that amount represents approximately 5.4% of the token’s maximum supply. The possibility of those remaining holdings returning to the market is one of the main risks being monitored.Frank had previously valued the attacker’s FUN holdings at approximately $6.23 million. That was equivalent to 252% of the token’s reported daily trading volume.Daily trading volume alone, however, does not show how effectively a market can absorb a large sale. In FUN’s case, the liquidity of the specific pool and the concentration of sales over a short period played a decisive role in the price movement.Following the developments, the FUNToken team asked centralized exchanges to temporarily suspend FUN deposits as a precaution. That request, however, did not prevent sales in the relevant Uniswap liquidity pool.Other small tokens also face pressureAccording to the on-chain analyses shared, wallets linked to the Binance hack also held smaller-market-cap tokens including PROM, RSR, RED, OGN and GTC, alongside FUN. The attacker reportedly sold some of these assets through Uniswap and PancakeSwap.The developments show that the impact of the attack extends beyond the total value of assets taken from the exchange. For tokens with limited liquidity, the amount of stolen assets that remains transferable and the speed at which those assets are sold can have a significant effect on prices.For FUNToken, which traces its origins to the FunFair project launched in 2017, attention has now shifted to the remaining holdings. The large amount still in the wallet suggests that renewed selling could keep the token’s price under pressure.
Binance TR Temporarily Suspends Crypto Withdrawals
Binance TR has announced a temporary suspension of crypto asset withdrawals as a precautionary measure. In its October 30 update, the company said all user assets remained safe and Turkish lira deposits and withdrawals continued without interruption. Crypto trading and crypto asset deposits also remain available on the platform.The decision followed the security incident affecting Binance’s global platform. For users in Türkiye, the announcement clarified which transactions fall under the temporary restriction. Binance TR said it had suspended only crypto asset withdrawals, while other account functions remained available.Which services remain available on Binance TR?According to the company’s statement, users can continue buying and selling cryptocurrencies on Binance TR. Turkish lira deposits and withdrawals, along with crypto asset deposits, also remain operational.The decision therefore does not mean that all fund transfers on the platform have stopped. Users seeking to withdraw Turkish lira and those looking to transfer crypto assets to another wallet face different conditions under the temporary measure. The restriction announced by the company applies to withdrawing crypto assets from the platform.Addressing the status of user funds, Binance TR stated:“All user assets on Binance TR are safe.”The company emphasized that user security remained a priority. It said its teams were working around the clock to complete the necessary steps as safely and thoroughly as possible. No timeline announced for withdrawals to resumeBinance TR’s update did not specify a date or time for crypto asset withdrawals to resume. The company said it would share further developments through its official communication channels.While the statement describes the measure as temporary, it provides no details on how long the suspension will last. Binance TR’s subsequent announcements will therefore be key to establishing when withdrawals will reopen.The company also said its customer support team remained available around the clock to answer questions. In its public statement, it urged users to disregard information circulating outside its official updates.New update follows initial statementIn its initial statement following the emergence of security concerns, Binance TR said user assets were safe and platform services continued without interruption. The company also said it was maintaining its security procedures with diligence.The October 30 update announced the temporary restriction on crypto asset withdrawals. This changed the operating conditions outlined in the initial statement; trading, Turkish lira transfers and crypto asset deposits remained available, while crypto withdrawals were suspended.The latest statement contains no report of user asset losses on Binance TR. The company describes the withdrawal suspension as a precautionary measure and maintains that all user assets are safe.
What’s Happening in Crypto After Binance? $1.59 Billion in Liquidations
Selling pressure continues across the cryptocurrency market following the Binance attack. Bitcoin has slipped toward $77,400, while approximately $1.59 billion in leveraged positions have been liquidated over the past 24 hours. BNB’s daily decline exceeded 5%; reports of institutional investors moving assets off centralized exchanges suggest security concerns have spread across the sector.Following the overnight attack, attention shifted to how Binance would cover the losses and when withdrawals would resume. The exchange estimated the impact at approximately $6.3 billion, saying it had worked with partners to freeze roughly $3 billion of the affected assets.Why is Bitcoin falling, and where do altcoins stand?The security breach at Binance prompted investors to reassess the safety of assets held on exchanges. Suspended withdrawals and uncertainty over the scope of the attack weakened risk appetite.Market data reviewed at the time of writing showed Bitcoin trading at $77,414.99, down 3.30% over the past 24 hours. Ethereum fell 3.58% to $2,235.55, while BNB dropped 5.32% to $700.59.CryptocurrencyPrice24-hour changeBitcoin (BTC)$77,414.99−3.30%Ethereum (ETH)$2,235.55−3.58%BNB$700.59−5.32%XRP$1.2481−3.06%Solana (SOL)$96.59−3.39%Dogecoin (DOGE)$0.07543−3.19%Solana remained below $100, while BNB suffered a sharper decline than several other major cryptocurrencies. Selling pressure, however, varied across assets. Hyperliquid’s HYPE token rose 15.52% to $92.29. TRON gained 1.92%, while Zcash advanced 0.95%. HYPE’s divergence from the broader market came as investors assessed the partnership announced by NYSE owner ICE and Trade.xyz to develop markets using Hyperliquid infrastructure. Project-specific developments continued to support some assets despite widespread security concerns.Crypto liquidations reach $1.59 billionThe latest liquidation dashboard showed that positions worth $1,587,332,864 were forcibly closed over the past 24 hours. Long positions, which profit from rising prices, accounted for approximately $1.33 billion, while short positions accounted for $255.83 million.Longs represented 83.88% of total liquidations. The breakdown shows that the sell-off hit traders using leverage to bet on higher prices particularly hard.PeriodTotal liquidationsLast 24 hours$1.587 billionLast 12 hours$723.98 millionLast 4 hours$66.66 millionLast 1 hour$27.16 millionIn leveraged trading, platforms automatically close positions when adverse price moves leave traders with insufficient collateral. Liquidating long positions can generate additional selling pressure, allowing falling prices to trigger further liquidations. Long positions also accounted for approximately $22.79 million of the $27.16 million liquidated in the latest hour. The most recent data therefore showed continued pressure on bullish trades.The $1.59 billion figure represents the value of forcibly closed positions. Adding it to the $6.3 billion in assets affected by the attack would not provide an accurate measure of total losses.Binance accounted for a substantial share of liquidationsThe exchange-level table covers the latest 12 hours. During that period, Binance recorded approximately $344.87 million in liquidations, compared with $128.04 million on Hyperliquid and $89.13 million on Bybit.Long positions accounted for 90.16% of liquidations on Binance. That share reached 93.80% on Bybit and 76.48% on Hyperliquid.The figures show that price movements following the attack affected leveraged traders across multiple platforms. The 12-hour exchange figures should not be directly compared with the market-wide 24-hour total.Did the attack leave a gap in Binance’s reserves?Binance pledged to cover the losses using its SAFU security fund and company resources. Its commitment to honor customer balances and the condition of the reserves affected by the attack remain separate issues.“Binance 14,” one of the affected wallets, appeared among the addresses backing customer assets in the exchange’s October 1 proof-of-reserves report. This indicates that the attacker accessed reserves supporting customer liabilities.Calculations based on the early-October reserve figures suggest that the outflow of approximately 204,500 ETH could have reduced Ethereum backing from 100% to around 94%. However, that estimate relies on an earlier reserve snapshot rather than a current, comprehensive audit of post-attack assets.The calculation does not mean that users received a 6% haircut on their account balances. Replacing the missing assets and demonstrating that through an updated reserve report will be crucial to resolving uncertainty over customer funds.Has the frozen $3 billion been recovered?Binance said approximately $3 billion in assets had been frozen on-chain. Freezing can prevent the attacker from moving or cashing out those assets; it does not mean all the funds have returned to the exchange.Tether froze approximately $1.57 billion in assets, while Circle took action involving more than $800 million. Ripple also participated in efforts to freeze approximately $200 million.The roughly 18,270 BTC taken by the attacker is subject to a separate tracing effort. Bitcoin lacks the centralized freezing mechanism available to stablecoin issuers, creating different challenges for recovery.When will Binance withdrawals resume?According to Binance’s latest service update, deposits are operating normally. Withdrawals remain temporarily suspended while the exchange upgrades security across its withdrawal infrastructure and associated addresses.The exchange said it aims to begin restoring withdrawal services within 48 hours of its announcement. This is not a confirmed reopening time; restoration depends on the completion of security work.The company’s preliminary findings suggest that a compromised employee computer may have served as the entry point. Binance said it had found no evidence of leaked wallet private keys and would release a detailed technical report once the investigation was complete.Security concerns spread to other crypto exchangesReports following the attack indicated that institutional investors were moving assets off centralized exchanges and adjusting their trading portfolios. The total amount withdrawn and the destinations of those funds remain unclear.Withdrawing assets from an exchange does not necessarily mean selling them. Investors can move the same holdings to another custody arrangement; nevertheless, a reduction in funds available on trading platforms matters for liquidity.Operational effects have also emerged. India-based CoinDCX restricted the opening and expansion of futures positions because of a Binance-related liquidity disruption, while allowing users to reduce existing positions.The platform said customer funds, deposits and withdrawals were unaffected.Will selling pressure continue?Geoffrey Kendrick, Standard Chartered’s Global Head of Digital Assets Research, said crypto prices could remain under pressure until more details of the attack emerge and the status of frozen funds becomes clearer. His assessment highlights the risks posed by uncertainty rather than establishing that prices will inevitably fall further.The next concrete developments for the market will be Binance’s restoration of withdrawals, updated reserves and announcements on asset recovery. With longs accounting for approximately 84% of liquidations over the past 24 hours, bets on higher prices have already proved costly for leveraged traders.
Binance Faces $5.8 Billion Hack Allegations: CZ Responds
Reports of billions of dollars in suspicious outflows from Binance wallets have raised major security concerns across the crypto market. Initial estimates put the transfers at $2.77 billion, while subsequent assessments suggested the amount could reach $5.8 billion. Binance said it was investigating a potential security issue, while founder Changpeng Zhao (CZ) stated that user funds were safe.As the incident unfolded overnight on October 29–30, Tether and Circle reportedly froze stablecoins linked to the suspicious transfers. Tether CEO Paolo Ardoino said the company had frozen more than 1.567 billion USDT. However, Binance has yet to officially confirm a total loss figure.Binance: Our Security Teams Are InvestigatingBinance co-founder Yi He said in a statement on X that the company was aware of reports of a potential security issue and was actively investigating. According to the statement, security teams are urgently reviewing all relevant information. The company said it would share updates through official Binance channels as soon as verified information became available.Yi He also urged users to remain alert to scams. She warned against trusting unofficial links, messages, or requests for account information.The statement confirms that the exchange is investigating the suspicious activity. However, the company has yet to provide a detailed assessment of the cause, the systems affected, or the full financial impact.CZ: “User Funds Are Safe”Binance founder and former CEO Changpeng Zhao also addressed the incident in a post on X. Opening with “User funds are safe!”, CZ said Binance appeared to have suffered a cyberattack. CZ thanked Tether for quickly freezing approximately $971 million and Circle for freezing $823 million in the initial response. He then noted that he was no longer involved in Binance’s day-to-day management, adding:“I don't manage Binance (.com) anymore, but as a shareholder, I expect all user funds will be fully covered.”CZ’s statement offered reassurance about user assets. However, his comments about covering funds reflect his expectations as a shareholder; details of any potential compensation plan from Binance remain unknown.Estimates Put Suspicious Transfers at $5.8 BillionData flagged by onchain analyst Spreek shows approximately $3.55 billion in incoming transfers to an unlabeled wallet. Around $900 million of those assets was reportedly moved to other wallets afterward.Coinbase executive Conor Grogan said in his post that the amount had reached as much as $5.8 billion. Blockchain security firm Blockaid also said it was investigating approximately $3.3 billion in suspicious outflows from Binance hot wallets across Ethereum, Arbitrum, and Avalanche.The figures may reflect different scopes of analysis and reporting times. They therefore cannot be added together to calculate a total loss.Similarly, assets entering one wallet and subsequently moving to other addresses do not represent a separate loss. Establishing the final damage requires tracing the transfers together and clarifying the status of the frozen assets.Tether Updates Its Frozen USDT TotalInitial reports indicated that Tether had frozen approximately 971 million USDT, while Circle had frozen around 823 million USDC. That put the combined value of the two companies’ initial interventions at approximately $1.79 billion.Tether CEO Paolo Ardoino later said the frozen amount had exceeded 1.567 billion USDT. Ardoino stated that protecting the industry and the company’s partners was a priority.Combining Tether’s updated figure with the reported 823 million USDC frozen by Circle brings the total value of frozen stablecoins to more than approximately $2.39 billion. However, freezing assets does not mean they have been returned to Binance or that any potential losses have been fully covered.Attention now turns to further announcements from Binance regarding the scope of the incident, its impact on user accounts, and the asset recovery process. As the company’s investigation continues, the method behind the suspected attack and the exact loss remain unclear.
NYSE Owner ICE Signs Deal for Hyperliquid-Based Markets
Intercontinental Exchange (ICE), the owner of the New York Stock Exchange (NYSE), has reached an agreement with Trade[XYZ] to bring perpetual futures markets built on Hyperliquid infrastructure to the United States. In its October 29 announcement, ICE said it would also make a strategic investment in Trade[XYZ] as part of the partnership. The planned market’s launch remains subject to regulatory approval.The partnership will cover contracts tied to cryptocurrencies, stocks, indices, commodities and foreign exchange rates. The companies aim to establish a U.S.-regulated structure that allows retail investors to trade across different asset classes around the clock.ICE Will Operate the New MarketUnder the agreement, ICE will become the exclusive operator of Trade[XYZ]’s regulated markets. The company plans to establish a dedicated retail market and clearing structure for this purpose.The new business will operate separately from ICE’s existing institutional futures and clearing operations. ICE aims to open a new channel for reaching retail investors while continuing to serve its institutional clients.The companies will work on a framework incorporating customer identity verification and anti-money laundering controls. Their regulatory applications will also cover the approvals required to support leveraged trading.Hyperliquid Infrastructure Could Open a New Route to U.S. MarketsTrade[XYZ] develops perpetual futures markets on Hyperliquid tied to assets such as stocks, indices and commodities. According to figures shared by the company, cumulative trading volume across its existing markets surpassed $650 billion in just over a year.Perpetual futures contracts have no fixed expiration date. These products allow investors to take positions on price movements without directly purchasing the underlying asset.Trade[XYZ] said its existing Hyperliquid markets would continue operating independently while work on the new U.S. project progresses. The announcement therefore does not mean existing trading activity will immediately move to a new platform. The planned U.S. market will undergo a separate regulatory process.Investment Size and Launch Date Remain UndisclosedThe size of ICE’s strategic investment and the ownership stake it will receive have not yet been disclosed. The companies have also not announced when the new market will launch.According to Trade[XYZ]’s announcement, the project requires approval from the U.S. Commodity Futures Trading Commission (CFTC). The company plans to share further details about products, eligibility requirements and timing as the approval process advances.Investors are expected to access the market through participating brokers and trading platforms. However, the announcement does not mean U.S. users can immediately begin trading the planned contracts.The agreement marks a notable development in the Hyperliquid ecosystem’s ties with traditional financial institutions. The project brings together ICE’s experience in operating markets and Trade[XYZ]’s onchain derivatives infrastructure, with its eventual scope dependent on regulatory approvals and product terms to be announced.After these news, HYPE coin price rose 17 percent in 24 hours.
Binance to List PREDICT: Trading Date Announced
Binance announced that it will list PREDICT, the token of BNB Chain-based prediction market project Predict, on its spot market. According to the exchange’s October 29 announcement, trading will begin on October 30, 2026, at 10:00 UTC. Users will be able to trade PREDICT against USDT, USDC, and the Turkish lira.Three trading pairs to open for PREDICTThe listing will introduce the PREDICT/USDT, PREDICT/USDC, and PREDICT/TRY trading pairs. Access to the TRY pair will also require users to have a verified Binance TR account.Binance plans to open withdrawals on October 31 at 10:00 UTC. The exchange noted that this timing is an estimate and that users can check the withdrawal page for the latest status.PREDICT will enter the spot market with a Seed Tag. Binance applies this label to projects that may carry greater risks and price volatility than other listed assets. To trade these tokens, users must complete the relevant risk quiz every 90 days and accept the terms of use.The start of spot trading will also trigger PREDICT’s transition from Binance Alpha. Users will be able to transfer tokens from their Alpha accounts to their spot accounts 15 minutes before trading opens. Binance also said it will move remaining PREDICT balances from Alpha accounts to spot accounts within 24 hours.How does Predict work?Predict.fun offers a prediction market where users can take positions on the outcomes of future events. Built on BNB Smart Chain, the protocol turns developments across sports, economics, politics, culture, and crypto into tradable markets.Participants buy and sell “yes” or “no” shares based on whether a particular event will occur. Share prices fluctuate with participants’ expectations and trading activity. Once the outcome is settled, winning shares pay out one dollar each, while losing shares become worthless.Binance Wallet also uses Predict.fun’s infrastructure for its in-app prediction market service. In this integration, Binance serves as the access layer that displays markets to users, while transactions take place on-chain through the Predict.fun protocol.In supported regions, users can fund their prediction accounts using balances from their spot or funding accounts. PREDICT’s spot listing therefore adds a new trading channel for the token of a protocol already integrated into the Binance app.Binance Futures previously announced that pre-market trading for the PREDICTUSDT perpetual contract would begin on October 25 at 08:15 UTC. The exchange set maximum leverage at five times and disclosed the project’s total and maximum token supply as one billion PREDICT. The new spot listing will also allow users to buy and sell the token directly on Binance.Airdrop participants have two optionsAhead of the listing, Binance also shared airdrop terms for Predict Points holders. Users can earn these points by trading on Predict, providing liquidity, holding positions, and participating in markets early.According to the October 28 announcement, eligible users can choose to claim 35% of their token allocation early. However, doing so permanently forfeits the remaining 65%. The other option allows users to receive their full allocation after a one-year staking period.The deadline to submit the preference form is November 26 at 09:00 UTC. The one-year staking option will apply by default to users who do not make a selection before the deadline. Users can submit the form only once and cannot change their choice afterward.The October 29 deadline of 09:00 UTC for inclusion in the first-day distribution has already passed. Users who select the early-claim option afterward will receive their tokens according to the weekly distribution schedule outlined in the announcement. Binance noted that eligibility and allocation amounts remain subject to Predict’s final verification.
Curve Finance Goes Live on Stellar in First Move Beyond EVM
Decentralized finance protocol Curve Finance has launched on Stellar mainnet, marking its first native deployment outside the Ethereum Virtual Machine (EVM) ecosystem. The integration allows users to create liquidity pools, access existing pools, swap assets, and provide liquidity on Stellar.According to an announcement shared by Curve Finance and the Stellar Development Foundation on October 29, the initial launch brings StableSwap to the network. Curve also plans to deploy FXSwap, which supports various asset pairs, including stablecoins pegged to different currencies, once its audit is complete. Curve Brings StableSwap to Stellar’s Liquidity MarketsStableSwap is designed for trading assets whose prices move closely together. These include stablecoins pegged to the same currency, wrapped Bitcoin tokens, and synthetic versions of crypto assets.The Stellar deployment allows users to create pools without permission. Users can also find existing pools, swap supported assets, and add liquidity, making Curve’s trading infrastructure available to teams building applications and issuing assets on Stellar.A key feature of the integration is Curve’s native expansion beyond EVM networks. The protocol’s founder, Michael Egorov, said institutional demand helped drive the move.According to Egorov, Curve began exploring deployment options on non-EVM networks where sufficient demand existed. Stellar’s relative familiarity compared with many other non-EVM chains, alongside interest from institutions, played a role in the decision.His comments also explain the rationale behind the integration. Curve is expanding its network reach while responding to demand from institutions looking to transact on Stellar. However, the announcement did not name institutional users or provide a target for expected trading volume.New Infrastructure for Lending Apps and Tokenized AssetsCurve pools could also support lending applications and other financial services on Stellar. These applications could use the pools to sell collateral during liquidations or help users exit positions.However, Curve noted that these use cases depend on certain conditions. Liquidity in the pools needs to grow, and applications need to integrate them. The mainnet launch therefore does not mean all these services are already operational.Asset issuers could also use Curve pools to build markets for supported tokens on Stellar. The network hosts stablecoins and tokenized assets, including Franklin Templeton’s tokenized money market fund. MoneyGram also uses Stellar’s infrastructure for money transfers.Denelle Dixon, CEO and executive director of the Stellar Development Foundation, emphasized the importance of moving between assets. According to Dixon, the ability to transact efficiently between stablecoins and tokenized assets plays a central role in making them useful.Curve’s arrival gives developers additional infrastructure to build these markets. The extent to which existing assets gain traction in the new pools will depend on available liquidity and developer integrations.FXSwap Awaits Audit CompletionCurve’s plans for Stellar extend beyond StableSwap. The protocol also aims to bring FXSwap to the network once its audit is complete. However, the team has not provided an estimated timeline.The two products target different types of asset pairs. StableSwap focuses on assets whose prices remain close to one another, while FXSwap supports trading between assets whose prices fluctuate relative to each other.This includes pairs of stablecoins pegged to different currencies. According to Curve, FXSwap also supports use cases involving volatile crypto pairs and lower-volatility foreign exchange and real-world asset pairs.Launched in 2020, Curve has expanded its offering over time to include lending products and its crvUSD stablecoin alongside its trading services. The Stellar launch adds another network to that expansion, while FXSwap’s deployment remains dependent on the completion of its audit.
Bithumb and Two Financial Firms Hit by Cyberattacks as Investigations Begin
Financial authorities have launched an on-site investigation following a data breach at South Korean cryptocurrency exchange Bithumb. The exchange shared findings indicating that employee information had been exposed and is continuing to investigate whether customer data was also affected.According to an October 28 statement from South Korea’s Financial Services Commission (FSC), the incident also involves employees of Bithumb’s subsidiaries and business partners. No leak of information that could be used in asset transfers, such as cryptocurrency wallet addresses, has yet been confirmed.Bithumb Detects Breach in Employee SystemBithumb identified unauthorized external access to its internal mobile work system on October 27. Employees use the system to communicate, share files and carry out daily tasks.The exchange reported the incident to the Korea Internet & Security Agency (KISA) and the Personal Information Protection Commission on the day it discovered the breach. It then began reviewing the affected records.According to local publication Digital Today, initial findings primarily pointed to employee information. Bithumb notified its employees about the incident while leaving open the possibility that customer records were also included in the leak.The attackers’ identities, their method of entry and the number of people affected remain unclear. The exchange is continuing to analyze the types and scope of the exposed information.Investigation Into Customer Data ContinuesBithumb said the compromised internal system operates separately from its cryptocurrency trading infrastructure. According to the exchange, attackers cannot access customers’ crypto assets through this system.No cryptocurrency losses have been reported. However, the exchange has not provided details on whether the incident affected deposit and withdrawal services.The status of customer information remains under separate review. Investigators are examining whether internal employee messages or shared work files may have contained customer details.Reports indicate that Bithumb is specifically reviewing files employees sent through the messaging system. The separation of its trading infrastructure therefore does not establish that customer data was unaffected.Financial Authorities Hold Emergency MeetingThe FSC held an emergency meeting on October 28 with Bithumb, the Financial Supervisory Service, the Financial Security Institute and the Digital Asset eXchange Alliance (DAXA). During the meeting, Bithumb briefed authorities on findings related to information leaks involving employees of the exchange, its subsidiaries and business partners.The commission said the relevant agencies had begun on-site inspections. Investigators are focusing on the cause and scope of the attack, along with its potential impact on customers.The FSC also said it would oversee consumer protection measures, including full compensation if losses occur. This statement does not mean that customer losses have been established or that Bithumb has launched a compensation program.Other South Korean Financial Firms Report AttacksThe Bithumb incident comes amid a series of security breaches across South Korea’s financial sector. According to Reuters, citing Yonhap, Daishin Securities and Mirae Asset Global Investments were also among the companies reporting attacks.Daishin Securities said personal and credit information belonging to 38,490 customers had been leaked. That figure refers to Daishin customers; Bithumb has not yet disclosed how many people were affected by its own breach.Mirae Asset Global Investments said it had blocked abnormal access to some of its web systems. The company stated that investor information was unaffected.The companies’ statements describe different systems and impacts. Publicly available information does not confirm that the same attackers were responsible for these incidents.Earlier this month, South Korean authorities said cyberattacks had affected 16 financial institutions, including banks. The next key development in the Bithumb investigation will be determining whether customer records were among the exposed data and establishing the number of people affected.
Bitcoin Ahead of the Fed Decision: What Does the Crypto Market Expect?
Bitcoin traded around $81,000 ahead of the Fed decision, while major altcoins also recovered. Crypto investors turned their attention to how the US central bank’s messaging could shape risk appetite for the rest of the year.In morning trading, Bitcoin rose approximately 2% to just below $82,000. At the time of writing, it is trading around $81,424. Ethereum gained around 2% to move above $2,350, while Solana posted a similar increase to reach approximately $102.Altcoins Recover Ahead of the Fed DecisionXRP and Dogecoin gained approximately 3%. Zcash climbed 8% to around $1,320, while Hyperliquid’s HYPE token rose roughly 5% to trade near $81.BNB gained around 1%, while TRX advanced less than 1%. The rebound, following Bitcoin’s weekend decline to approximately $79,000, showed buying spreading across crypto assets ahead of the decision.Following the Fed announcement, investors will watch whether Bitcoin holds its gains and whether Ethereum and other major altcoins sustain their momentum.Interest Rates Expected to Remain UnchangedThe Fed decision will be announced today at 9:00 p.m. Turkish time, followed by Chair Kevin Warsh’s press conference at 9:30 p.m. According to the official schedule, this meeting will not include new economic forecasts or interest rate projections.The central bank raised its policy rate by 25 basis points to a range of 3.75%–4.00% in September. The prevailing expectation for October is that rates will remain at this level.CME FedWatch data priced in a 93.9% probability of rates remaining unchanged.For crypto assets, one key consideration will be how long the current rate stays in place. Elevated borrowing costs can affect leverage and the capital investors allocate to risk assets, making the prospect of further tightening a closely watched issue.Liquidations Draw Attention in Leveraged TradingMeanwhile, market data showed approximately $175 million in crypto positions liquidated over the past 24 hours. Short positions accounted for most liquidations, while open interest in Bitcoin futures increased by 0.65%. The closure of positions betting on falling prices can create additional buying pressure during a rally. Assessing the strength of a price increase therefore requires looking at both spot demand and moves driven by the unwinding of leveraged positions.Coinbase Institutional also highlighted Bitcoin’s sensitivity to interest rate expectations in its October 16 assessment. The firm noted that Treasury yields rose following strong inflation data, while Bitcoin fell from approximately $83,800 to below $82,000.Which Signals Will Matter After the Decision?Following the Fed decision, the initial focus will be on how much room the policy statement leaves for further rate increases. Crypto markets could face selling pressure if Warsh describes inflation pressures as persistent and reinforces the prospect of additional tightening.A more cautious approach that emphasizes monitoring incoming data could soften investors’ rate expectations. These are potential scenarios that depend on the tone of the announcement; leaving rates unchanged alone does not guarantee a Bitcoin rally.Whether Ethereum and Solana follow Bitcoin’s moves around $81,000 will indicate how broadly the market is responding. Changes in trading volume and open interest will also help investors assess whether new positions or the closure of existing trades are driving the move.The statement released at 9:00 p.m. and the press conference half an hour later could trigger different price reactions. Investors will therefore watch whether the market’s initial direction holds as Warsh answers questions.
