Key Takeaways Bitcoin fell to $76,320 after Binance disclosed a $6.3 billion hack, triggering widespread panic. Bitcoin’s plunge fueled $1.66 billion in crypto liquidations, with long positions suffering most. Global Settlement Network’s CEO urged stronger custody safeguards after the $6.3 billion breach. Bitcoin Plunges to Multiweek Low Following Binance Hack Bitcoin price stabilized above $77,000…
Key Takeaways OneKey CEO warns BlackRock’s IBIT could be North Korea’s next crypto hack target after the Binance breach. IBIT’s sole reliance on Coinbase creates a single failure point for its massive $63B Bitcoin holdings. Unlike stablecoins, stolen BTC cannot be frozen, and limited insurance leaves ETF holders vulnerable. BlackRock’s IBIT on North Korean Hackers’…
Key Takeaways Binance committed $6.34B in corporate funds to fully reimburse users after a historic $6B security breach. Industry partners like Tether and Circle froze $3B of the stolen assets to aid law enforcement recovery. The exchange is purchasing remaining impacted tokens via OTC markets to safely resume user withdrawals. Binance Prepares to Restart Normal…
Key Takeaways Lookonchain tracked the attacker selling 7.02 million UNI for $39.63 million on Oct. 29 and 30. TRM Labs said wallets on nine non-Ethereum chains moved funds through ordinary signed transfers. Binance’s Nov. 1 proof-of-reserves snapshot will show whether the dumped tokens were replaced. Seven Tokens Gone in Hours The thief behind the Binance…
Key Takeaways Bitcoin ETFs added $137.33M on Wednesday, lifting 3-day inflows to about $423.66M. Ether outflows slowed to $21.41M, while Zcash extended its inflow streak to seven sessions. Blackrock still carries most bitcoin demand, leaving the rally dependent on broader issuer participation. Bitcoin ETFs Add $137M as 3-Day Inflow Streak Builds Three sessions into the…
Key Takeaways TRM Labs and ZackXBT tied the Binance theft to North Korea’s Tradertraitor unit (part of the Lazarus Group) with high confidence. The attacker still holds over 420,000 ETH and 18,270 BTC, about $2.4 billion beyond issuer freezes. TRM expects the next laundering wave to move through bridges, swap services and OTC brokers. Investigators…
Key Takeaways The London Metal Exchange plans to tokenize its off-warrant metal reserves to secure business financing. The move aims to boost Hong Kong’s digital commodity hub status, aligning with China’s five-year plan. The exchange might become one of the the first metal bourses to issue reserve-backed tokens. London Metal Exchange Turns To Tokenization To…
Weekly Crypto Roundup Get the weekly briefing for Philippine crypto insiders, from the country’s longest-standing crypto and blockchain news publication. Web3 financial platform Backpack and publicly listed South Korean firm SK Securities announced a partnership Oct. 29 to offer Korean equities trading to international investors through the Backpack app. The collaboration allows eligible non-resident foreign…
Key Takeaways Bitwise raised its target from $1.3 million for 2035 to $1.6 million for 2036. Its valuation assumes bitcoin captures 25% of the gold-and-bitcoin market. The bull scenario projects $3.67 million; the bear scenario puts bitcoin at $130,686. Bitcoin’s $1.6 Million Target Implies 34.3% Annual Growth Bitcoin could reach about 19 times its model…
Key Takeaways Binance suspended withdrawals Oct. 29 as analysts tracked up to $5.8 billion in suspicious transfers. Tether and Circle reported freezing more than $2.3 billion in tokens linked to the Binance incident. Binance has yet to confirm the final losses or when withdrawals will resume following the Oct. 29 incident. The trouble began with…
