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Extended, a decentralized perpetual futures exchange developed by a team from UK fintech company Revolut, unveiled the tokenomics for its native token XTEN via its official X account. XTEN will be used as a utility token in the Extended ecosystem, offering trading fee discounts, staking rewards, additional vault yield and referral rewards. The token will have a maximum supply of one billion, allocated as 30% for a community airdrop, 20% for the ecosystem, and 50% for founders, the team and investors. The full airdrop allocation will unlock at the token generation event, while allocations for founders, the team and investors will be locked for the first 12 months. Of the ecosystem allocation, 150 million XTEN will be used for staking rewards. Around 32.9% of total supply will be unlocked at TGE, of which about 2.9% of total supply will be held in a public wallet as an ecosystem fund, putting the maximum immediately circulating supply at 30%.

World Liberty Financial generated $12.09 million in income from managing stablecoin USD1 reserves in October, according to crypto data analytics firm MSB Intel. That exceeded the previous monthly high of $11.88 million recorded in May, marking a record monthly profit. Average daily income came to about $390,000.

Crypto market maker Wintermute said BTC faces a risk of further declines if it cannot reclaim $80,000, while identifying around $76,800, the 50-week moving average, as the next key support level. In a market report dated Nov. 2 local time, Wintermute said the market remained weak after $1.5 billion in futures positions were forcibly liquidated following last week’s Binance hack. With BTC still below $80,000, Wintermute said it was using $78,000 as a reference point because the sell-off appears specific to the Binance incident. The firm added that the next important support level is around $76,800, which corresponds to the 50-week moving average. Wintermute also said recent dip buying was concentrated mainly in leveraged perpetual futures, with no signs of fresh capital inflows strong enough to support a rebound. It added that near-term downside risk could ease if BTC reclaims $80,000 and holds that level on buying through spot markets and ETFs. If BTC falls below the 50-week moving average as well, however, the risk of additional declines would increase.

CoinMarketCap’s altcoin season index came in at 48, up one point from yesterday. The index is calculated by comparing the price performance of Bitcoin with the top 100 coins by market capitalization, excluding stablecoins and wrapped coins. An altcoin season is identified when 75% of the top 100 coins outperform Bitcoin over the past 90 days, while the opposite is considered a Bitcoin season. A reading closer to 100 indicates stronger altcoin season conditions.

Bitcoin sidechain Liquid Network announced through its official channel that it has fully restored its BTC reserves, recovering the one-to-one BTC collateral ratio for LBTC. Liquid Network said the swap service between BTC and LBTC resumed several weeks earlier, and users can exchange the two assets at a one-to-one ratio through participating firms. The network added it plans to pursue a governance overhaul, stronger oversight, and technical and operational security measures, with details to be disclosed within the next several weeks.

Fidelity Digital Assets transferred 1,722 BTC worth $132.1 million to multiple new wallets over the past hour, Onchain Lens reported. Onchain Lens said the moves may reflect tighter security measures amid a string of recent hacks in the Web2 and crypto industries.

Cryptocurrency stolen in the Binance hack was spread across about 12,000 wallets on 11 blockchains in less than four days, Bitcoin News reported, citing blockchain analytics firm Elliptic. According to Elliptic, the attacker stole about $6.3 billion worth of cryptocurrency on Oct. 29 and then attempted to launder the funds through more than 40,000 transactions. In the process, the attacker also used tools that make transactions harder to trace, including decentralized lending protocols and Bitcoin CoinJoin, a crypto mixing protocol. As of yesterday, about $2.85 billion of the stolen assets had been frozen, while the attacker was estimated to hold about $1.43 billion worth of BTC across 40 addresses and about $1.37 billion worth of ETH across 857 addresses. Still, only a very small portion of the assets is believed to have been converted into cash.

South Korea’s Democratic Party has conveyed its view to the party leadership that cryptocurrency taxation should be delayed again, according to Newsis.

Binance has expanded fee rebate benefits for some market makers to help secure trading liquidity after a $6.3 billion hack, Bloomberg reported, citing sources. According to Bloomberg, Binance decided to apply the same rebate rate given to top-tier level-four market makers to level-two and level-three market makers for one week. The move was seen as aimed at encouraging smaller liquidity providers to keep trading and restoring order-book liquidity. Talos, a crypto trading infrastructure firm, said Binance’s order-book liquidity within 1% of the BTC price fell about 30% to $32 million from $45 million during the 24 hours after the hack. Meanwhile, Binance withdrawals reached $4.7 billion as of Nov. 2, Bloomberg added.

USDT circulating on the Tron (TRX) network reached $92.35 billion at the end of the third quarter of 2026, surpassing Ethereum (ETH), which stood at $86.69 billion, according to Onchain Lens. Token Terminal data showed Tron first moved ahead of Ethereum on July 23 and has maintained the lead since then. Tron’s current USDT circulating supply stands at $94.25 billion.

Spot CVD is an order book analysis chart for the BTC/USDT spot trading pair. The upper panel shows the volume heatmap, while the lower panel shows cumulative volume delta, or CVD. - The volume heatmap in the upper panel tracks trading volume at each price level, and the background color becomes brighter when the price stays in a specific range for an extended period or moves sharply. Areas closer to brighter colors may act as support or resistance. - The CVD indicator in the lower panel reflects buy and sell orders by order size, and the line for each color rises as buy orders increase in that category. The yellow line represents orders between $100 and $1,000, while the brown line is based on large orders between $1 million and $10 million.

CoinMarketCap’s in-house crypto fear and greed index came in at 33, down three points from yesterday, indicating that fear remained in place. The index suggests extreme fear as it approaches zero and extreme optimism as it approaches 100. CoinMarketCap calculates the index based on price movements among the top 10 cryptocurrencies by market capitalization, market volatility, derivatives-market data including put/call ratios, the stablecoin supply ratio (SSR), and CoinMarketCap’s own search data.

Custodia Bank, a Wyoming-chartered bank focused on cryptocurrency, has filed its final reply brief with the U.S. Supreme Court in its challenge to the Federal Reserve’s refusal to grant a master account, urging the court to stop what it described as the Fed’s tyranny over financial innovation. The dispute follows a ruling by the 10th U.S. Circuit Court of Appeals siding with the Fed, saying a regional Federal Reserve Bank has discretion to deny a master account even to a legally eligible depository institution. Custodia countered that under the Monetary Control Act of 1980, the Fed is required to provide payment services to eligible nonmember banks, citing the statute’s use of the word "Shall." Custodia also argued unelected officials had weaponized the power to deny access to the payments system, acting like a fourth branch of government and seriously undermining state sovereignty over bank charters and the dual banking system. In the appellate case, Judge Timothy Tymkovich also issued a strong dissent, saying the decision gave the Fed unlimited power to refuse access.

Swan Bitcoin founder Cory Klippsten warned that AI-based exploits pose a far more direct threat to the Bitcoin ecosystem than recently heightened fears over quantum computing. Klippsten said attackers weaponizing large language models were using sophisticated prompt injection to identify and exploit zero-day vulnerabilities in infrastructure and smart contracts in real time. By contrast, Klippsten said commercially viable quantum computers capable of breaking Bitcoin’s cryptography were at least a decade away, adding that pushing a quantum-resistant fork now would only create unnecessary code complexity and vulnerabilities.

Liquid Network, a Bitcoin sidechain, added 300 BTC, reducing its reserve shortfall to around 250 BTC. According to The Defiant, the emergency reserve injection lifted the effective backing ratio of Liquid Bitcoin (L-BTC) to 94.14% from about 87%.

Kim Yo Jong, vice department director of the Central Committee of North Korea’s Workers’ Party, pushed back after North Korea was identified as being behind the roughly 8 trillion won ($5.8 billion) hacking incident at Binance, calling it a U.S. political provocation and suggesting it could negatively affect the setting of North Korea-U.S. relations, Yonhap reported.

The three major U.S. stock indices closed mixed today. - S&P 500: -0.51% - Nasdaq: -1.07% - Dow Jones: +0.42%

Kamino said it plans to invest at least $20 million over the next two years to expand the range of available assets and provide credit and liquidity infrastructure through platforms consumers already use. In a letter to the KMNO community, Kamino’s CEO said the Kamino Foundation owns the intellectual property and receives all revenue, including from institutional partnerships. The CEO added KMNO is the only token, and the founders, investors, team, and CEO share the same economic interests through the token without separate equity allocations. The CEO also said most of the KMNO allocated to the CEO will vest only if a series of valuation targets is reached and maintained.

Ethereum-based layer-two scaling network Sophon (SOPH) said the Sophon chain will cease operations on Nov. 30 and advised users to withdraw assets by Nov. 25. It said Sophon itself is not shutting down and the SOPH token will remain in place.

Decentralized lending protocol Dolomite said it is keeping its halt on new borrowing on the Ethereum mainnet as a precaution following the Binance hack. Markets remain open, and users can still deposit, withdraw, repay, use zap, add collateral, and manage existing positions. Dolomite said it temporarily suspended seven markets on Oct. 29 — ETH, USDC, USDT, WBTC, USD1, LINK and rUSD — then blocked all new borrowing across Ethereum later that evening before reopening those markets. After an additional review on Oct. 30, Dolomite said it decided to keep the restriction on new borrowing in place. The protocol said it had not observed any malicious activity on Dolomite and that no assets were at risk from the attack. It added that it will continue monitoring the incident and its potential impact on lending markets, and plans to resume borrowing once protective measures are no longer needed.

Crypto research and brokerage firm K33 said estimated losses tied to Binance’s fines and hacking incidents totaled about $10.7 billion, equal to roughly 56% of its pretax profit from 2021 to 2025, according to NewsBitcoin. NewsBitcoin estimated Binance’s pretax profit for 2021-2025 at $19.2 billion. Binance has never published consolidated financial statements covering the entire group in its nine-year history. K33 senior analyst Vetle Lunde said the amount Binance had to pay in fines was about $4.34 billion, including a 2023 U.S. criminal settlement, a $6.9 million fine imposed in Australia this year and a $750,000 fine imposed in Turkey in 2021.

Layer-1 blockchain Sui said Samsung Wallet plans to add support for Sui-based USDC in November for eligible Galaxy users in the U.S.

The U.S. SEC has released a new FAQ on cryptocurrency token classification, Crypto in America podcast host Eleanor Terrett said. Terrett said it appears aimed at clarifying decentralization-related issues that the Clarity Act seeks to address through legislation.

Investor sentiment toward major cryptocurrencies including Bitcoin, Ethereum and XRP has weakened steadily for about two months, according to blockchain analytics platform Santiment. The firm said fear in the market expanded after the Binance hack, with prices falling and bullish expectations also declining. Santiment said Bitcoin recorded 0.69 bullish views for every bearish view, while XRP stood at 0.61. Ethereum was relatively higher at 1.14, but bullish sentiment has fallen sharply from September levels. The firm added that past market cycles have at times produced contrarian investment opportunities after extreme sentiment deterioration, although fear alone makes it difficult to identify a market bottom. With sentiment ratios for Bitcoin and XRP below 1.0, Santiment said a medium-term rebound would be worth watching if prices do not set additional lows.

Funds worth about $5.55 million tied to the hack of Brazilian cryptocurrency exchange Mercado Bitcoin have been frozen, according to Onchain Lens. The frozen assets were spread across three addresses and included USDT, USDC and gold-backed tokens.