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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.

People Power Party Chairman Jang Dong-hyeok criticized the government and ruling party over virtual-asset taxation, saying their inconsistent stance is only deepening market uncertainty, according to Newsis. Speaking at an academy session on digital assets and financial innovation at the National Assembly in Yeouido today, Jang said the government’s response on cryptocurrency policy has been too slow. Jang added that the won-denominated stablecoin market pledged by President Lee Jae-myung has yet to see even a clear policy direction from the government, while the virtual-asset tax policy has become even more confusing.

U.S. midterm election results are due today, and the outcome is set to shape regulatory and legislative responses affecting the crypto industry during President Donald Trump’s remaining term. While cryptocurrency was not a major campaign issue in this election, crypto companies-backed Super PACs spent $200 million on political funding for the midterms. Late polling by local media showed Democrats with a clear edge in the House, while the Senate outcome was widely seen as difficult to predict.

CoinMarketCap’s in-house crypto fear and greed index rose two points from yesterday to 35, with the market remaining in the fear zone. The index indicates extreme fear as it moves closer to zero and extreme optimism as it approaches 100. CoinMarketCap calculates the gauge based on price moves among the top 10 cryptocurrencies by market capitalization, market volatility, derivatives-market data such as put-to-call ratios, the stablecoin supply ratio (SSR), and CoinMarketCap’s own search data.

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 represents cumulative volume delta, or CVD. - The volume heatmap in the upper panel tracks trading volume at each price level. The background becomes brighter when the price stays in a specific range for an extended period or moves sharply. Brighter zones may act as support or resistance. - The cumulative volume delta indicator in the lower panel reflects buy and sell orders by order size. As buy orders increase, the line in the corresponding color moves higher. The yellow line is based on $100-$1,000 orders, while the brown line tracks large orders of $1 million-$10 million, among others.

Sixty-two percent of registered U.S. voters do not trust the Trump administration to oversee the cryptocurrency industry, CoinDesk reported, citing a poll by Public Opinion Strategies. The survey found 25% of respondents viewed crypto as an important issue in the midterm elections, while about two-thirds held a negative view of the industry. It also showed 73% opposed government officials having personal financial interests in crypto-related businesses. The poll surveyed 1,000 registered U.S. voters.

U.S. President Donald Trump said the United States currently has no plan to launch an immediate attack on Iran, according to the Financial Times.

CoinEx founder Yang Haipo identified three security issues in the Binance hacking incident that Yang said could have been prevented. In a post on X, Yang said Binance did not fully separate its development and production environments, and that the production system lacked an effective two-factor authentication system, allowing an attacker to access the production environment with the leak of a single authentication key. Yang also said that even under a multi-party computation-based multisignature system, the security framework was undermined by a single node breach because signing participants did not independently verify transactions. Yang stressed that fixing those problems does not require advanced technology, and said the real shortfall was a failure to follow basic security principles.

PM Derivatives LLC, a subsidiary of decentralized prediction market Polymarket, has been approved by the National Futures Association as a futures commission merchant, Reuters reported. The approval is one step in Polymarket’s push to expand in the U.S., though additional approval from the U.S. government is still needed for an actual business expansion.

Block, the payments company led by Jack Dorsey, is seeking a settlement worth about $964 million to resolve a U.S. Department of Justice investigation related to anti-money laundering compliance, Bloomberg reported. In a filing with regulators, Block said it reached an agreement in principle with the DOJ in October for a three-year deferred prosecution over alleged violations of the Bank Secrecy Act. The agreement still requires court approval, and the total settlement amount is estimated at about $964 million. Separately, Block held a total of 28,355 BTC, worth about $2.2 billion, on its corporate balance sheet and on behalf of customers as of the third quarter.

Bitcoin is showing a strong rebound around $76,000, and crypto analyst Michaël van de Poppe said on X that the market’s direction will likely hinge on the U.S. midterm election results and whether U.S. Treasury Secretary Scott Bessent provides liquidity. From a "Sell the rumor, Buy the news" perspective, van de Poppe said Bitcoin appears to be forming a bottom at current levels. Van de Poppe said cryptocurrencies remain an attractive asset class with greater upside potential than the S&P 500. Technically, the rebound remains constructive, although he said it is still too early to conclude the correction has ended. A clear break above the $79,000 resistance level would increase confidence that the pullback is over, he added, while the odds of a further decline to $75,000 appear low.

Nasdaq-listed BNB Standard Corporation (BNC) has appointed SkyBridge Capital founder Anthony Scaramucci as an outside director, The Block reported. The appointment expands the board to seven members and fulfills the company’s obligation to name an additional outside director under its partnership agreement with YZi Labs, the company said.