crypto

According to The Defiant, the real-time data dashboard of the blockchain security auditing firm CertiK shows that the cumulative losses in the cryptocurrency industry reached a record $9.2 billion in 2026.Data indicates that in October, $3.03 billion in assets were frozen or recovered, bringing the adjusted losses for the month down to $3.47 billion.

Darkfost stated that short-term holders transferred over 36,600 BTC, which are in a state of loss, to exchanges within 24 hours, reflecting the pressure on this group.

Cryptocurrency trader Ansem shared in a post that the cryptocurrency market may have peaked earlier than the U.S. stock market in this cycle. If the recent rebound is merely a counter-trend bounce, and the U.S. stock market has just begun a larger-scale adjustment, then the cryptocurrency market may still face a new round of declines.Ansem pointed out that the risk appetite in this cycle has been largely driven by AI and the U.S. stock market trends, so it is worth considering the possibility that the cryptocurrency market does not peak in sync with the traditional stock market. However, he is not certain that the market will necessarily develop along this scenario and will remain open to judgment, paying attention to the price reactions of the two asset classes as they approach key price levels.He also stated that even if the cryptocurrency market and the U.S. stock market continue to decline in the short term, Bitcoin may bottom out before the overall stock market.

According to Coinglass data, the cryptocurrency Fear and Greed Index is currently at 31, up 2 points from yesterday. The average over the past 7 days is 44, and the average over the past 30 days is 57.

According to Bloomberg, on October 31, 2008, Satoshi Nakamoto released the Bitcoin white paper, proposing a peer-to-peer electronic payment system that does not require the participation of banks or central institutions. Over the past 18 years, Bitcoin has evolved from a marginal experiment in early dark web and forums to an asset class recognized by Wall Street and institutional investors. In October last year, there was still $19 billion in leveraged positions liquidated in a single day, and the crypto winter of 2022 caused the market value of digital assets to evaporate by more than $2 trillion.On the 18th anniversary of the Bitcoin white paper's release, the price of Bitcoin hovers around $80,000, facing its worst month since June.Today, the Bitcoin ETF launched by BlackRock has reached a scale of approximately $66 billion, with several publicly listed companies incorporating Bitcoin into their balance sheets. Traditional financial institutions are also actively laying out stablecoins, asset tokenization, and blockchain financial infrastructure. However, this development also brings a certain contrast: Bitcoin was originally intended to challenge the centralized financial system, but it is now increasingly being accepted by traditional financial institutions.

According to TRM data, from January 1 to September 7, 2026, the 34 physical casinos in Sihanoukville, Cambodia received approximately $1.07 billion in cryptocurrency. Of this, 64% of the funds flowed to casinos associated with networks sanctioned by the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC), and 99.9% of the funds were transferred in the form of USDT on the TRON chain.The monthly inflow of funds averaged $148 million per month from January to May, dropping to about $95 million in July and August, but it did not completely stop. These casinos converted USDT into cash and conducted almost no necessary due diligence on customers.In addition, pawn shops, supermarkets, and exchange counters throughout the city also offer "cryptocurrency to cash" services.

According to Chainalysis data, as of October 29, 2026, losses from suspected North Korean-related hacking attacks accounted for nearly 89% of the reported cryptocurrency hacking losses this year, compared to 15% in 2021.In terms of losses from individual attacks, the average loss from suspected North Korean-related attacks has increased from $50.65 million in 2021 to $185.65 million in 2026, approximately 3.7 times that of 2021.From 2021 to October 29, 2026, the reported cryptocurrency hacking losses have totaled $22.34 billion, of which losses from suspected North Korean-related attacks amounted to $13.24 billion, accounting for about 59% of the total.

The U.S. Digital Chamber urges Congress to pass a special bill before the recess, granting the CFTC regulatory authority over cryptocurrency exchanges and strengthening customer fund segregation. Lummis stated that the Clarity Act could provide legal protection for freezing suspicious transactions.

According to Decrypt, Cantor Fitzgerald analysts believe that the market correction following the Binance hack provides a buying opportunity, and they expect the stock prices of Coinbase, Robinhood, and Strategy to rebound after the panic subsides.TD Cowen believes that this attack exposes Binance's own security vulnerabilities rather than issues with Bitcoin's underlying technology, and views the correction as an opportunity to increase holdings in Bitcoin and publicly listed companies.Compass Point stated that Binance's liquidity is sufficient to cover the losses, but customer compensation may put pressure on the supply of stablecoins, with Coinbase and Hyperliquid potentially taking on some of the business.Moody's pointed out that this incident highlights the cybersecurity risks of hot wallets and the concentration risk of large centralized intermediaries.

DeFi researcher Ignas stated that during the current market downturn, the previously common "buy the dip" voices on social platforms have become rare. Although some market participants believe that Bitcoin holding the $77,000 to $80,000 range is bullish, most crypto traders may already hold a large amount of tokens, and some investors prefer to wait for price confirmation before buying, rather than bottom-fishing in panic. Assets like HYPE, which are decoupled from Bitcoin's movements, as well as belief-based tokens like ZEC and income-generating assets like HYPE still have appeal.However, there is currently insufficient potential buying interest. Retail investors who previously favored crypto assets are now impacted by the volatility of assets such as AI stocks, gold, and quantum computing, and the fund flow for cryptocurrency ETFs has turned into a net outflow over the past 30 days.

Liquid Capital founder Yi Lihua stated that the trading process is not easy. Previously, while maintaining a bullish outlook, the market experienced multiple corrections; after the price rose to $86,000, he insisted on looking for corrections, during which there were also several rebounds, even reaching $87,000. In the past month, the price has repeatedly fallen back to the $80,000 to $81,000 range before quickly rebounding to the key position of $84,000.He emphasized that both the rise and the correction are not linear, and one should not always think about trading, but rather adhere to the principle of "looking for corrections without shorting," patiently waiting for the best bottom-fishing opportunity. He mentioned that he founded and manages three different funds, focusing on cryptocurrency investment, cryptocurrency trading, and AI technology, with cryptocurrency trading being the most challenging, described as "a practice against human nature." He raised the question of whether investors will still have the confidence to bottom-fish in the face of the upcoming extreme panic, which is worth contemplating.Regarding the future market, he views what he calls Buffett being trapped in Google and Duan Yongping being trapped in Pop Mart as a temporary phenomenon, and believes that AI will continue to create miracles, monetary expansion will not stop, and high-quality AI stocks and cryptocurrency assets remain his favored trend direction.

According to CoinDesk, analysts from three Wall Street firms—Cantor Fitzgerald, TD Cowen, and Compass Point—believe that despite Binance experiencing a hack of approximately $6.3 billion, there are currently no sufficient signs indicating that this event will threaten the entire cryptocurrency market, and the previous trend of market recovery is unlikely to be interrupted.Cantor Fitzgerald analyst Ramsey El-Assal pointed out that Tether has frozen over $1.5 billion in stolen assets, Circle has frozen about $800 million, Ripple has frozen about $200 million, and Binance claims that the total amount of frozen stolen funds is approximately $3 billion. He believes that the cryptocurrency industry is gradually enhancing its ability to respond to such security incidents and expects that after market panic subsides, cryptocurrency-related stocks like Coinbase, Robinhood, and Strategy are likely to rebound, advising investors to buy on dips.TD Cowen analyst Lance Vitanza believes that this attack exposes security weaknesses in Binance's own transaction signature infrastructure, rather than issues with the underlying technology of cryptocurrencies like Bitcoin. The market sell-off may provide an opportunity to increase holdings in Bitcoin and stocks of publicly traded companies that hold Bitcoin.Compass Point analysts believe that Binance has sufficient liquidity to cover the funding gap, expecting that its excess USDT reserves, BTC reserves, and USDC funds are enough to cover the losses. However, the firm also warns that Binance's compensation to customers may put pressure on the supply of stablecoins and could drive users to shift from centralized exchanges to competing platforms such as Coinbase, Bullish, and Hyperliquid.

According to the official website of the French Senate, the French Senate passed Bill No. 21 on October 27, 2026, in a first reading under an accelerated procedure, authorizing the approval of two multilateral documents related to the automatic exchange of tax information:The first is a multilateral agreement on the automatic exchange of information regarding the reporting framework for crypto assets (CARF) between competent authorities, and the second is a supplementary document to the multilateral agreement on the automatic exchange of financial account information (CRS). Both documents were signed on November 26, 2024, in Asunción, Paraguay, with the specific text found in the annex of Bill No. 921 (2025-2026 fiscal year).

According to a notice from the U.S. Department of Justice, two Texas men, Raymond Christian Garcia and Isiah Angelo Garcia, were sentenced to 180 months and 186 months in prison, respectively, for armed kidnapping of a family and extorting cryptocurrency in Minnesota in September 2025. The two pleaded guilty in June 2026 and were sentenced on October 29.Court documents show that on September 19, 2025, the two broke into the victims' home, bound the family with zip ties, and held them at gunpoint for over 9 hours, forcing the victims to hand over access to their cryptocurrency accounts.As the amount transferred by the victims did not meet their expectations, the two further forced the victims to drive to their cabin in northern Minnesota to retrieve more cryptocurrency storage devices and complete the transfer, ultimately coercing the victims to transfer over 8 million dollars in cryptocurrency. After the victim's son called 911, the two fled and were later arrested near Houston, Texas.

Cryptocurrency analyst Darkfost stated that after Binance experienced approximately $6.3 billion in assets being stolen, the decline in major cryptocurrency reserves on that day was relatively limited. He believes that despite the scale of the attack, the changes in reserves indicate that the platform still has the capacity to absorb the shock and minimize the impact on users.According to his tracking, during the relevant block interval, Binance saw outflows of 18,279 BTC, 185 million XRP, and $1.67 billion worth of USDT. ETH was withdrawn in two batches, totaling 246,840 coins, with 167,464 coins and 79,376 coins respectively.From the changes in reserves on that day, BTC reserves decreased by 3.1% to over 682,000 coins; ETH reserves decreased by 8.5% to 3.3 million coins; XRP reserves decreased by 8% to 2.47 billion coins; and USDT reserves decreased by 6.3% to 34.1 billion coins. Based on this, Darkfost concluded that the impact on the platform's reserves was relatively limited, and the effect on users also seemed to be quite limited.Regarding asset freezes, approximately $3 billion in assets have been frozen, including $1.567 billion in USDT and over $800 million in USDC. Binance has also committed to covering the losses through the SAFU fund and company reserves.

According to The Defiant, Uniswap, venture capital firm a16z, and the DeFi Education Fund (DEF) are appealing to the cryptocurrency tax regulations in Illinois, USA, seeking exemptions for decentralized finance activities.The aforementioned organizations argue that wallet withdrawals and cross-chain bridging should not be included in the tax assessment based on asset value, while also requesting the elimination of the requirement to maintain records of private keys.

Consensys published on platform X that its cryptographer Youssef El Housni, along with collaborators from Wuhan University of Technology, KU Leuven, and the National Academy of Sciences of Belarus, proposed a new subgroup member detection method called Divide-and-Pair.Not all points on non-prime order curves like Curve25519 belong to the target subgroup; skipping this check may lead to small subgroup attacks. The NIST P series curves are of prime order and do not require this check. This method treats two known schemes as the two ends of the same parameter range, selecting optimal settings for each curve, with speeds not lower than the original methods. According to Consensys, the speedup factors for each curve are: approximately 1.6 times for Curve25519, approximately 1.3 times for Curve448, approximately 1.4 times for GC256A, approximately 10.8 times for FourQ, and approximately 7 times for Jubjub.This method has been integrated into the open-source library gnark-crypto. This library currently runs on Besu, Linea, go-ethereum, as well as systems based on gnark such as Succinct and Lighter. The related paper has been accepted by IACR Transactions on Cryptographic Hardware and Embedded Systems (TCHES) and will be published at CHES 2027.

The Financial Services Agency of Japan (FSA) released a commissioned research report on overseas financial regulatory systems, totaling 609 pages, authored by the Japanese law firm Atsumi & Sakai. The report covers eight countries and regions, including the United States, the United Kingdom, the European Union, China, and Hong Kong, aiming to provide references for Japan's financial system planning and legislation.The report focuses on outlining the regulatory systems for cryptocurrency exchanges, stablecoins, and the tokenization of real-world assets (RWA) in various regions, including the U.S. "GENIUS Act," the EU MiCA regulations, the UK's stablecoin regulatory framework, and China's regulations on virtual currencies and RWAs to be released in February 2026.The report points out that, according to current Chinese regulations, the issuance, trading, and related services of RWA tokenization within the country are generally prohibited, except for businesses that have obtained approval from the competent authorities and rely on specific financial infrastructures. Additionally, the report discusses Hong Kong's expansion of the scope of tokenized securities trading and related market regulatory arrangements.

Dragonfly Managing Partner Haseeb Qureshi stated that after Binance experienced a hacker attack exceeding $6 billion, the market reaction was completely different from the FTX collapse back in the day.Although the scale of funds involved in this incident is only about 25% lower than the funding gap left by FTX, the overall decline in Bitcoin and the cryptocurrency market was only a few percentage points, and market sentiment remained relatively calm, with bottom-fishing funds gradually entering the market; even with macro market pressures, capital outflows were relatively mild, and the directly affected tokens also showed some resilience.Haseeb believes that the market has strong confidence in Binance as a company, and with various industry parties quickly collaborating and providing mutual support, there is a general expectation that Binance will be able to repurchase related assets and make up for the losses. He stated that this incident reflects the maturity and progress of the cryptocurrency industry.

According to Be In Crypto, data from Chainalysis shows that by June 2026, the scale of South Africa's crypto economy will grow by 52% to $39.3 billion, with various tracking activities also increasing. Among them, commercial payments from South African merchants and P2P traders reached $8.34 billion, growing faster than institutional activities (which saw an inflow of $1.29 billion); the inflow of stablecoins through P2P channels in Sub-Saharan Africa reached $14.6 billion, on par with Bitcoin.On August 3, the South African Treasury and the Central Bank (SARB) released a draft for crypto asset management, proposing that individuals can only transfer crypto assets through authorized local service providers within existing offshore limits, while businesses are prohibited from cross-border transfers of crypto assets.As of March 31, the Financial Sector Conduct Authority (FSCA) has issued licenses to 310 crypto asset service providers, but these institutions still need additional authorization from SARB. Finance Minister Enoch Godongwana stated that after receiving thousands of public comments, the Treasury will strive to release a revised second draft, with no timeline currently announced.