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Bitcoin was attempting to reclaim the $79,000 level after recovering $78,000 on the morning of Nov. 2, CoinDesk reported. The outlet said the crypto market, which had plunged after a $6.34 billion hack at Binance last week, appeared to be stabilizing and had rebounded for a third straight trading day as of today. Among major cryptocurrencies, Zcash (ZEC) was leading the rebound with a gain of about 3%, while Ethereum (ETH) and BNB Chain (BNB) were each up about 2%.

Gate said it froze two accounts suspected of being linked to a Binance hacker address. Earlier, on-chain analyst Lookonchain pointed out that a total of 250,000 USDD had been deposited to Gate over 12 hours from an address suspected of belonging to the Binance hacker.

RUNE, the native token of cross-chain decentralized exchange Thorchain, fell about 20% over the past 24 hours and briefly slipped below $0.50. BlockBeats said the short-term decline came as regulatory and security concerns intensified after it was confirmed that hackers routed part of the funds stolen in last week’s Binance hack through Thorchain. According to on-chain data, the hackers moved about 185.1 million TRX and 3.83 million USDT into Thorchain and swapped roughly $48.3 million worth of crypto across 2,697 transactions. The amount ultimately retained through the laundering process was estimated at about $42.7 million, implying losses of around $5.7 million from fees and slippage.

A wallet address beginning with rK21t6 that has transaction history with the Binance hacker transferred 40 million XRP, worth about $50.48 million, to an anonymous address beginning with rhXtR at around 3:56 a.m. UTC today, Whale Alert reported. According to CoinMarketCap, XRP was recently trading at $1.25, up 0.55%.

SBI VC Trade, the cryptocurrency exchange of Japanese financial group SBI Holdings, said on its official website that user deposits of yen-denominated stablecoin JPYSC for lending had surpassed ¥10 billion ($570 million) as of today. The combined total of on-chain balances and exchange deposits exceeded ¥30 billion ($1.71 billion). SBI VC Trade began handling JPYSC in June and launched a service in July that lets users deposit their JPYSC with the exchange to earn lending fees. The exchange also plans to use JPYSC in on-chain financial services once legal revisions and other steps allow the stablecoin to be used on public blockchains.

A hacker moved 4,000 ETH worth $9.22 million to Tornado Cash about two hours ago, on-chain analyst EmberCN said. The hacker previously stole about $22 million worth of cryptocurrency from decentralized finance protocol Pando four years ago and bought 7,548 ETH at an average price of $2,249 with 16.98 million DAI three days ago, as the crypto market fell during the Binance hack incident.

Hong Kong authorities are considering the use of regulated stablecoins as one settlement option as they expand tokenization projects from green bonds to Exchange Fund Bills, Edaily reported. At a press conference during Hong Kong FinTech Week 2026 at the Hong Kong Convention and Exhibition Centre today, Hong Kong Monetary Authority Chief Executive Eddie Yue said the pilot program for tokenized Exchange Fund Bills would be expanded, adding the next phase would examine whether the scope of the experiment can be broadened further to include regulated stablecoins as a settlement method.

A wallet linked to U.S. rapper Kanye West withdrew 2,074 ETH worth $4.7 million from Binance shortly after withdrawals resumed. According to on-chain analyst ai_9684xtpa, the address has repeatedly expanded long positions by borrowing against its ETH collateral. It was not confirmed whether the latest withdrawal was intended to increase those positions or simply move assets. After news of the Binance hack emerged on Oct. 30, the address sold 1,390 ETH on-chain to reduce liquidation risk. It is currently borrowing $27.71 million in stablecoins against a total of 21,109 ETH in collateral, with health factors of 1.44 and 1.62 across two collateral positions.

Bitcoin’s Seller Exhaustion Constant recently plunged again after hitting its lowest level in August, reaching the second-lowest reading of this cycle, crypto analyst Murphy said in an analysis shared on X. Murphy said the metric fell to its lowest level since the August trough when BTC dropped to $77,000 a few days ago. Murphy said the indicator reflects periods of low price volatility and heavy investor losses, adding that in the past it reached such extreme levels only near cycle bottoms. Once prices moved off the bottom, Murphy said, similar readings rarely reappeared, and even if BTC fell further, the indicator tended to form a second low above the first. Murphy added that a buy signal emerging at the second low is generally more reliable than the first, although investors may have to buy BTC at a higher price than they would have at the initial bottom.

DePIN project IoTeX warned of Linux kernel vulnerability CVE-2026-98432, with a CVSS score of 9.8, that could allow a remote attacker to gain root privileges over TCP, and recommended patching by Nov. 2 for anyone running delegate nodes on affected kernels. IoTeX said Go 1.24 and later enable Multipath TCP (MPTCP) by default on listeners, meaning iotex-core’s P2P port 4689 can receive connections over an MPTCP path usable in the attack without any separate configuration. For Debian 12 and 13, the recommended response is to upgrade the kernel to 6.1.190 or later and 6.12.113 or later, respectively, and then reboot. For Ubuntu, IoTeX said no fixed kernel is yet available for any release, and presented a firewall rule blocking IPv4 packets containing the IP options required for the attack as a mitigation that can be applied without a reboot.

Hong Kong stablecoin infrastructure developer RD Technologies said it is reviewing a business-to-business trade settlement model using stablecoins with Stanbic Bank Ghana, initially for payments by Ghanaian companies to suppliers in Asia. The company is also working with Ghanaian digital asset infrastructure firm Transika to examine combining their payment infrastructures. Separately, RD Technologies plans to build the brand of its dollar-denominated stablecoin RDUSD and expand its use cases. RDUSD is set to be issued by federally chartered U.S. digital asset bank Anchorage Digital Bank and was designed with the goal of complying with the GENIUS Act.

The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $29.16 million liquidated (77.26% shorts) - ETH: $24.63 million liquidated (59.76% shorts) - SOL: $5.62 million liquidated (87.62% longs)

Bitcoin Core version 32.1 has been released, NewsBTC reported. The update includes a fix for a potential IP address exposure issue under certain conditions, changes to transaction relay behavior, and improvements to interface compatibility. The release does not change Bitcoin’s supply or transaction types. Instead, it focuses on improving node transaction processing, privacy, and software integration stability. Ordinary Bitcoin holders who do not run their own nodes do not need to move their coins separately as a result of the update.

Madagascar has repatriated 148 Chinese nationals to China over allegations tied to crimes including cryptocurrency fraud, Odaily reported. According to Madagascar’s Justice Ministry, the individuals are suspected of involvement in romance scams, cryptocurrency investment fraud, and the sale of bogus investment products. Local authorities had earlier carried out a sweeping crackdown in August and September, uncovering 13 telecom fraud bases operated by Chinese nationals. In the process, authorities seized about $52 million worth of cryptocurrencies and more than 3,200 electronic devices, the report said.

The number of companies opposing stock-tokenization listings on OKXICE, a joint platform between crypto exchange OKX and ICE, the parent of the New York Stock Exchange, has risen to 50. A list released by OKXICE on Oct. 30 added 12 more companies, including Nvidia, Nike, Costco, Reddit and CrowdStrike. OKXICE had originally named 62 companies as tokenization targets.

Alex Thorn, head of research at Galaxy Digital, said Coinbase’s Bitcoin price fell to its widest discount of the year versus Binance. In a post on X, Thorn said Coinbase’s BTC discount, adjusted for the USDT price gap, had widened to its largest level this year, but it was difficult to conclude the spread signaled weakening demand from U.S. investors because arbitrage between exchanges had been constrained by Binance’s suspension of withdrawals. With Binance withdrawals now resumed, Thorn said the market should watch whether the price gap between the two exchanges narrows.

A South Korean lawmaker has proposed a bill to delay the implementation of virtual asset taxation by two years, raise the basic deduction to 50 million won, and allow investment losses to be carried forward for five years, Digital Asset reported. Rep. Choi Eun-seok of the People Power Party on Oct. 27 introduced a partial amendment to the Income Tax Act containing those measures. Choi viewed the revision as necessary because capital gains from on-exchange trades in domestically listed stocks by ordinary retail investors are, in principle, not taxed following the repeal of the financial investment income tax, while applying a 2.5 million won annual basic deduction to digital assets could create tax equity issues across investment assets. Choi also cited the need for revision because digital assets are highly volatile and carryforward deductions for current losses are not currently allowed.

A Binance hacker deposited a total of 250,000 USDD to Gate over 12 hours, according to Lookonchain.

Layer-1 blockchain DigiByte (DGB) said it has processed its 24.49 millionth block, formally putting DigiDollar’s new rules into effect. DigiByte added that no chain split occurred during the upgrade process.

Binance co-founder He Yi denied allegations that personal connections could be used to get specific projects listed on Binance, BlockBeats reported. He Yi said He Yi does know Primitive Ventures co-founder Dovey Wan, but the relationship is not as close as rumors suggest. He Yi added that even a family relationship alone would not be enough to get a project listed on Binance. If any project had succeeded in winning a listing solely through personal connections, He Yi said, it would indicate shortcomings in Binance’s review capabilities. He Yi also said there have been only a handful of strong crypto projects in recent years and He Yi views BNB as one of them, while adding that investment and trading do not always generate profits.

Bitwise CIO Matt Hougan said the recent $6.3 billion hack at Binance is unlikely to affect Bitcoin’s long-term outlook, according to BeInCrypto. Hougan said Binance would have collapsed if a hack of this scale had happened 10 years ago, but the crypto industry has now grown enough to respond to a major hack. Hougan added the incident was a traditional cybersecurity breach, not a flaw in the Bitcoin blockchain itself. Hougan also said there were no Bitcoin ETFs five years ago and described ETFs as products institutional investors may choose as a more secure investment vehicle. Meanwhile, the FBI identified North Korean hacking group TraderTraitor as being behind the attack and urged the industry to block transactions involving related addresses.

Ethereum co-founder and Consensys founder Joseph Lubin pushed back against the view that advances in artificial intelligence will concentrate wealth and power in a small number of companies and states, arguing that decentralized protocols such as Ethereum will instead make economic participation more diverse. In a post on X, Lubin said the recently published essay "Commanding Heights" views changes in the AI era only through the lens of existing centralized power structures and starts from the mistaken assumption that someone must own core infrastructure. Lubin added that as decentralized protocols spread, large corporations could split into many smaller companies, while individuals could directly organize AI agents and other people to lead economic activity. Lubin said Ethereum provides a foundation for coordination without relying on central institutions, and added that while governments may use cryptocurrencies and some may build their own DeFi systems, global DeFi will stay ahead in speed, liquidity and innovation. The 145-page "Commanding Heights," published on Oct. 29, had argued that even if AI technology becomes widely adopted, a small number of actors controlling core economic infrastructure could capture the economic gains.

Bitcoin may be nearing another cycle low between late 2026 and early 2027 if a historical pattern tied to U.S. midterm elections repeats, Coinbureau said. Coinbureau said all three previous Bitcoin cycle lows formed shortly after U.S. midterm elections. In 2014, Bitcoin hit its cycle bottom 71 days after the election, followed by 39 days in 2018 and 13 days in 2022. Coinbureau added that three past cases alone are not enough to conclude elections determine Bitcoin’s price cycle.

Ripple CEO Brad Garlinghouse said XRP could become the standard for institutional cryptocurrency payment infrastructure within the next five years. Speaking at Ripple’s annual Swell event held last month, Garlinghouse said XRP would continue expanding its footprint to become the standard for institutional crypto payment infrastructure. He said Ripple plans to prioritize XRP when it is suitable for client transactions, while adding that fiat currency or Ripple’s stablecoin RLUSD may be more appropriate for some transactions. Garlinghouse also said 99.9% of the $16 trillion in transactions currently processed through Ripple products use traditional financial payment networks, and added that he expects 1% to 3% of that volume to move on-chain next year.

The total stablecoin market capitalization rose 0.10% from a month earlier to $305.5 billion in October, according to CoinDesk Research. USDC’s market cap fell 2.80% to $72.3 billion, while Tether held onto the top spot at $183.0 billion. Over the same period, on-chain tokenized real-world assets rose 2.92% to $34.5 billion, while on-chain daily trading volume fell 39.3% to $317 million.