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Pro-crypto Republican Byron Donalds defeated Democratic candidate David Jolly in Florida’s gubernatorial election, Cointelegraph reported. Donalds is set to become the state’s first Black governor. While serving in the U.S. House of Representatives, Donalds introduced a bill on Bitcoin reserves and holdings aimed at writing President Donald Trump’s executive order on a strategic Bitcoin reserve into law.

Decentralized exchange Cow Protocol said CoWSwap has begun supporting Aave V4 position swaps. Initial support covers Ethereum, Base and Avalanche.

An anonymous whale withdrew 303.8 BTC worth $23.4 million from Binance and then dispersed the funds across multiple addresses, according to Onchain Lens. Exchange withdrawals are typically interpreted as a sign of holding intent.

An address linked to Andreessen Horowitz, or a16z, deposited another 32,862 HYPE worth $2.67 million to exchanges over the past 10 hours, according to ai_9684xtpa. The address has transferred a total of $15.02 million worth of HYPE to exchanges over the past five days.

Major exchanges have seen $127 million worth of futures liquidated in the past hour. In the past 24 hours, $345 million worth of futures have been liquidated.

According to CoinNess market monitoring, BTC has fallen below $76,000. BTC is trading at $75,944.42 on the Binance USDT market.

Jack Yi, founder of crypto-focused investment firm LD Capital, said Bitcoin is showing stronger resilience than U.S. stocks despite setbacks including uncertainty around the U.S. midterm elections and the Binance hack. In a post on X, Yi said Republicans were likely to lose both the House and Senate, while the outcome in Texas, a key battleground area, remained uncertain. In that scenario, Yi said, U.S. stocks could face a further correction. Bitcoin, meanwhile, was due for a rebound after a recent 40-day correction, but had yet to reach an optimal correction range amid the Binance hack and midterm-election uncertainty, he said. Even so, Yi said BTC remains in a bull-market trend and is holding up better than U.S. equities despite a concentration of external negative factors.

Google Cloud, Google’s cloud business, has demonstrated technology that combines AI and blockchain to automate processes ranging from corporate loan contracts and bond transfers to interest payments, Digital Asset reported. The core of the project is the use of blockchain-based smart contracts to automate work that traditional financial institutions have handled manually. The company conducted a proof of concept with fintech firm Nammu21 to automate syndicated corporate lending operations on blockchain. The demonstration used Google Cloud Universal Ledger, or GCUL, the company’s distributed ledger infrastructure for financial institutions, along with Nammu21’s AI-based contract analysis technology.

The European Union-based crypto firm previously believed to have been hit by a hack was identified as French bank Crédit Mutuel Arkéa, on-chain analyst ZachXBT said. Crédit Mutuel Arkéa is a bank with $235 billion in assets under management. ZachXBT had said on Nov. 2 that the institution suffered a $106 million hack, and the estimated losses have since risen to $133 million.

Cross-chain interoperability protocol THORChain said swaps have resumed on AVAX, BASE, BCH, BTC, DOGE, ETH, LTC, RUNE, TRON, XRPL and ZEC following its 3.21.1 update. Trading remains halted for ATOM, BSC and SOL. THORChain said 14 active nodes have not yet upgraded to version 3.21.1, and all active nodes must update to that version to resolve swap performance issues. The protocol added the update also brings it one step closer to integrating Monero.

Tiger Research, an Asia-based Web3 research and consulting firm, said in a report titled "JPMorgan Kinexys: How Should Banks Use Blockchain?" that JPMorgan, the world’s largest U.S. dollar settlement bank with $12 trillion in daily payment flows, is developing 24-hour payment products through its blockchain unit Kinexys. The report said blockchain deposit accounts used by corporate clients to move money around the clock are the most widely used product, but their daily transaction volume reaches only up to $3.5 billion, or 0.03% of JPMorgan’s total payments. By contrast, JLTXX, a tokenized fund product, attracted $800 million in two months, and the report said there is a strong possibility stablecoin issuers placed reserve funds into it. It added that while the business remains small, JPMorgan is gradually expanding its blockchain operations on the back of its existing payment clients and deposits.

According to The Block, Jack Dorsey-led payments company Block posted $52 million in gross profit from its Bitcoin-related business in the third quarter, down 50% from a year earlier. The decline was attributed to lower fees on Cash App, the company’s payments app. Block’s overall net profit came to $566 million, up about 22.5% from $462 million a year earlier.

An anonymous whale address beginning with 0xDade, created three months ago, withdrew 69.12 million PONS worth $13.97 million and 5,887 ETH worth $13.45 million from OKX over the past 12 hours, Onchain Lens reported. Exchange withdrawals are typically interpreted as a move to hold the assets.

OKX founder Xu Mingxing said on X that a marketing-first culture at Binance could pose risks to the broader crypto industry. Xu said Binance’s $6.3 billion hack began when one employee was deceived by a fake job interview, later spread to two more employees, and may have involved internal AI tools. While Xu said he would not speculate on a rival’s security control failures, he argued that a culture where marketing comes first can be highly dangerous in the industry. Xu added that users may be drawn to yields or promotional bonuses, but hackers and scammers target 100% of principal. In crypto, security, accountability and compliance should always come before marketing, Xu said, adding that yield or promotional rewards cannot make up for losses of principal and that users should choose platforms that prioritize not only attracting assets but also protecting them. Xu and Binance founder Zhao Changpeng have clashed before on various issues. Xu also previously said the industry should act together on security standards after the Binance hack.

Yonhap reported that the PC launcher for Tencent-serviced game Goddess of Victory: NIKKE was found to have been compromised by malware inserted through a suspected hack. If infected, attackers could execute arbitrary commands with user-level privileges to install additional malware or steal account information stored in web browsers, along with API keys, tokens, and cryptocurrency wallet data. The report’s author said users should stop running the NIKKE PC launcher and remove the malware until official measures are announced. The author added that users should change all account passwords saved in browsers and move APIs and cryptocurrency wallets to new addresses.

James Wynn, a well-known trader on Hyperliquid whose positions were fully liquidated five days ago, has reopened a 40x BTC short position, according to Lookonchain. The position size is 1.256 BTC, or about $96,000, with a liquidation price of $78,227.92.

Bitcoin miners are facing growing pressure on profitability as the network hash rate nears a record 1,038 EH/s, Matthew Sigel, VanEck’s head of digital assets research, said. Sigel added that ahead of the April 2028 halving, operating an Antminer S21 XP priced at $3,459 would require Bitcoin to average around $100,000 through the halving to break even, assuming electricity costs of $0.08 per kWh, a stable network hash rate and three-year depreciation. To recover the initial investment on a cash basis by late 2028, BTC would need to average about $116,000, he said.

Total stablecoin supply fell by $11.5 billion, or 3.8%, over the past 30 days to $291.2 billion, Matthew Sigel, VanEck’s head of digital assets research, said. That left supply down 7% from its 52-week high. Supply at Tether and Circle fell by $5.7 billion and $3.2 billion, respectively, accounting for about 75% of the overall decline.

South Korea’s Democratic Party has formally proposed to the government a delay in taxing income from virtual assets, Newsis reported. Kim Min-seok, leader of the Democratic Party, said at the party’s Supreme Council meeting on Nov. 4 that the party had weighed the issue through consultations between the government and the ruling party centered on the National Assembly’s Strategy and Finance Committee, as well as meetings with virtual asset service providers. Kim said the party concluded that it would be preferable to first enact a basic law on digital assets to establish an overall framework and allow an adjustment period for companies and investors, after considering taxation principles, conditions in the domestic industry and fairness among users. A tax on virtual assets was introduced through a 2020 revision to the Income Tax Act, but its implementation has been postponed three times so far. The core measure is a 22% tax rate, including local income tax, on virtual asset investment income exceeding 2.5 million won. The government and the Democratic Party had originally planned to press ahead with implementation in January next year, but later reversed their position after investor backlash.

Binance had not carried out its monthly Terra Classic (LUNC) token burn as of Nov. 1, Cryptopolitan reported. Binance has conducted regular LUNC burns since 2023, and most recently burned about 334.88 million LUNC on Oct. 1. The outlet said it remains unclear whether the latest burn was delayed or halted, as Binance’s existing operating policy allows trading-fee settlement through the fifth of each month. Some in the community have speculated that a recent Binance hacking incident may have had an impact, but Binance has not officially explained why the burn did not take place or whether it was related to the hack.

Morgan Stanley said it has become one of the first banks to tokenize U.S. stocks and Treasuries after the launch of the Depository Trust & Clearing Corporation’s tokenization service, DTS. DTS launched on Oct. 27. According to Morgan Stanley, DTCC’s stock tokens are backed one-to-one by securities held at the Depository Trust Company, or DTC, and token holders have the same legal and economic rights as holders of the underlying securities. The service also provides near-real-time ownership tracking.

Grayscale Head of Research Zach Pandl said losses from security incidents across the crypto industry have topped $8 billion this year after the Binance hack, but their share of the total cryptocurrency market capitalization has been declining over the long term. Binance has covered 95% of the affected assets, and customer losses are not expected, Pandl said. Stablecoin issuers including Tether and Circle also supported the freezing of about $2.9 billion, or roughly 45% of the total stolen amount, and the funds are expected to be returned to Binance. Pandl said the incident dealt a temporary blow to market confidence, while likely leading to stronger exchange security and broader use of institutional-grade custody services. As a result, U.S. investors are expected to show a stronger preference for exchanges with protections such as segregated custody of client assets, cold wallets, multisignature systems and insurance, he added.

Democratic U.S. Sen. Mark Warner of Virginia has won reelection in the midterm elections, AP reported. Warner has played a key role in negotiations over the CLARITY Act, a cryptocurrency regulatory bill.

According to CoinNess market monitoring, BTC has fallen below $77,000. BTC is trading at $76,991.73 on the Binance USDT market.

CoinMarketCap’s altcoin season index came in at 45, down three points from yesterday. The index compares the price performance of Bitcoin with that of the top 100 cryptocurrencies by market capitalization, excluding stablecoins and wrapped tokens. A market is considered to be in altcoin season when 75% of the top 100 coins outperform Bitcoin over the past 90 days. The opposite is considered Bitcoin season. A reading closer to 100 indicates stronger altcoin season conditions.