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According to Coinglass data, Binance had a net outflow of 2.142 billion USDT in the past 24 hours.

According to a publicly disclosed lawyer's letter, the entity behind Pump.fun, Bracket Company Inc., sent a cease-and-desist letter to Eliza Labs founder Shaw Walters (X account @shawmakesmagic) on October 29, 2026, through the law firm Brown Rudnick. Pump.fun accuses Walters of unauthorized copying, reverse engineering, and planning to publicly release its source code, violating U.S. copyright law and platform service terms.The lawyer's letter states that Walters posted a series of messages on the X platform between October 27 and 28, claiming to have reverse-engineered 97.6% of the source code of the Pump.fun contract set, with 80% matching the original contract byte for byte, and plans to add the front-end and back-end code to the code repository, offering project tokens $PMUP as a reward to contributors. Pump.fun demands that Walters immediately cease such activities, refrain from publicly releasing the source code, and clearly states that such reverse engineering constitutes illegal behavior.

Crypto KOL Kuai Dong (entered the industry in 2016) stated that on-chain tracker ZachXBT speculated that the party responsible for the attack on Binance and the theft of $5.875 billion is the Lazarus Group, which is under the Reconnaissance General Bureau of the Korean People's Army.Kuai Dong also listed past theft results related to this organization, including approximately $300 million from Japan's DMM exchange, about $230 million from India's WazirX exchange, around $1.5 billion from Bybit, approximately $292 million from the on-chain protocol Kelp DAO, and about $380 million from Bitget.He also mentioned that Binance has recovered about half of the assets, but the recovery of Bitcoin, Ethereum, and others is more challenging, and stated that the hackers' ultimate goal is to funnel the assets into North Korea. ZachXBT responded in related discussions that this incident is likely related to the North Korean Lazarus Group. Public information shows that around October 30, there was a massive outflow of assets from Binance's hot wallets, with cross-chain statistics estimating between $5.5 billion to $6.2 billion. Zhao Changpeng stated that it indeed looked like they were hacked and mentioned that the actual net loss might be slightly above $1 billion, but they would cover the full amount.

According to the real-time display of "Customer Assets" on the Binance official homepage, the total assets of Binance customers are approximately $129.404 billion. Additionally, according to the information on the official page of Binance's proof of reserves, as of October 1, 2026, the reserve ratio of major assets is not less than 100%.Among them, the BTC reserve ratio is 100.35%, with a net account balance of 688,572.68 BTC and an on-chain wallet balance of 691,003.593 BTC; the ETH reserve ratio is 100.00%, with a net account balance of 3,799,136.43 ETH and an on-chain wallet balance of 3,799,139.752 ETH. The USDT reserve ratio is 103.88%, with a net account balance of approximately 32.028 billion and an on-chain wallet balance of approximately 33.271 billion; the USDC reserve ratio is 108.26%, with a net account balance of approximately 7.178 billion and an on-chain wallet balance of approximately 7.771 billion. The reserve ratios for BNB, SOL, and XRP are 100.47%, 100.00%, and 100.77%, respectively.Based on the current price, the total net balance is approximately $133.6 billion, and the total on-chain wallet balance is approximately $135.8 billion. Binance explains that the proof of reserves covers the custodial user assets, and the excess portion does not represent the total amount of the company's own assets; the "Customer Assets" on the official homepage is another display metric and is not the same summary table as the proof of reserves snapshot disclosed by asset type.

Binance released preliminary investigation results on its official X account, stating that the security incident may involve the laptop of a DevOps engineer being compromised. The attacker used this to access the service container and submitted unauthorized withdrawal transactions. Binance stated that there is currently no evidence of wallet private key leakage and will publish a detailed technical review after the investigation is complete and the facts are fully verified.Binance estimated the total impact of the incident to be approximately $6.3 billion. The platform has frozen related assets in collaboration with blockchain partners, with about $3 billion currently frozen on-chain. Binance stated that it will cover all losses through the SAFU fund and company funds, ensuring user fund safety, and will release updated proof of reserves after the resolution is complete.As an immediate measure, Binance has suspended deposits and withdrawals until security checks are completed, revoked the authorization of affected addresses, and has contacted law enforcement and blockchain intelligence partners to track and recover funds. Binance stated that the team is working with law enforcement partners to confirm the identities of the relevant individuals and reminds users to obtain updates only through official channels.

The founder of Liebit Mining Pool, Jiang Zhuoer, posted on platform X stating that Binance's potential losses account for a limited proportion of user assets and are not expected to trigger a large-scale withdrawal wave.He compared this situation to the Bybit theft incident in February 2025. At that time, Bybit was hacked for approximately $1.46 billion, which accounted for 9.01% of its roughly $16.2 billion in user assets. If Binance's gross outflow this time is $5.64 billion, of which $3 billion has been frozen, the remaining amount is about $2.64 billion, accounting for 1.6% of its approximately $165.12 billion in user assets.Jiang Zhuoer also mentioned that the gross outflow may include internal fund transfers within the platform and normal user withdrawals, and not all of it should be considered stolen funds. Binance has the capacity to absorb the related losses.

Due to the sell-off of technology stocks triggering a demand for safe-haven assets, U.S. Treasury yields accelerated their rise during the Asian trading session on Friday, with yields on all maturities falling by at least 3 basis points. Bonds from Australia, Japan, and New Zealand followed suit, with the 10-year government bond yield dropping by more than 5 basis points.In October, the benchmark 10-year U.S. Treasury yield has fallen by nearly 40 basis points.

According to Onchain Lens monitoring, the Binance hacker has begun selling STRK, increasing market selling pressure.The total unrealized profit of two Hyperliquid traders' STRK short positions is 4.46 million dollars, with one having an unrealized profit of 1.61 million dollars and the other having an unrealized profit of 2.85 million dollars.

On October 27, the Enforcement Directorate (ED) Bangalore branch conducted searches at three locations in Bangalore and one location in Madhya Pradesh under the Foreign Exchange Management Act (FEMA), investigating unauthorized cross-border cryptocurrency fund transfers involving amounts exceeding 50 billion rupees (approximately 525 million USD).The investigation involves platforms such as Mudrex, Saber.money, and Instadapp (associated with Fluid). The ED's preliminary investigation found that the entities in question are suspected of using offshore tax havens to set up shell companies, bypassing the cross-border remittance channels authorized by the Reserve Bank of India (RBI) through stablecoins (especially USDT, USDC) and large-scale over-the-counter transactions.Among them, the relevant entities conducted cryptocurrency trading through offshore exchanges such as Binance, Bybit, and Huobi, and transferred funds abroad. The ED's preliminary investigation found that the amount allegedly violated by the entities related to Instadapp is approximately 40 million USD.

The cryptocurrency KOL Seven research stated that currently, the majority of the major funds and main margin accounts of market makers and quantitative institutions in the cryptocurrency market are on Binance. Many institutions are engaged in cross-exchange arbitrage or hedging, and the suspension of withdrawals by Binance could lead to a sudden halt in their capital chain.Seven research mentioned that if the market continues to fluctuate violently, relevant institutions will be unable to withdraw funds from Binance to supplement margins elsewhere. To prevent liquidation, they will be forced to close positions on other exchanges and on-chain, forcibly pulling cash back. They also indicated that this is why the stolen assets were Ethereum-based, resulting in Solana and a bunch of altcoins dropping on the same day.

Steve Gregory, the CEO of Binance.US, stated that the funds of Binance.US users are completely independent and not affected by this incident. He also emphasized that Binance.US and Binance are entirely separate entities, and there are no shared asset custody arrangements between the two.

The financial prediction market platform SignalMarkets, associated with Crypto.com, announced the launch of its platform on October 29 and revealed the event Signal Summit 2026. The theme of the event is "Watch Politics Move Markets in Real Time," which will be held both offline and online in Boston on November 3 at 6 PM Eastern Time. Registration is required in advance, and on-site seats are limited; participation is free of charge.SignalMarkets focuses on economic, financial, business, and political events, positioning itself as an investment-oriented prediction market. The event will discuss the potential implications of changes in election expectations on investment decisions and portfolio risk through real-time market commentary, interactive discussions, and case studies, and will introduce its Signal Chains related to market correlations. Founder Joel Shulman stated that election night is suitable for introducing the platform, allowing participants to observe how new information alters expectations and how the market reacts.The company introduction states that SignalMarkets was founded by investment practitioners and scholars, focusing on event trading, market analysis, and portfolio risk management. Participation in the event is educational in nature and does not require trading. The company also notes that event contracts involve financial risks, including the possibility of losing the invested amount, and whether trading is open depends on applicable regulatory and operational requirements.

Lin Chen, the Head of Asia-Pacific Business at Deribit, stated that Coinbase and Deribit have confirmed the safety of assets and have completed a self-inspection, with no related risk points found at this time. He also expressed hope that the market can emerge from the shadows and enter the next bull market.

According to on-chain analyst Specter, First Digital has blacklisted the attacker address holding approximately 3.4 million FDUSD.

According to crypto journalist Eleanor Terrett, in response to reports that a Nasdaq representative allegedly discouraged listed companies from tokenizing stocks through the OKX/ICE TSV program, a Nasdaq spokesperson declined to comment.Nasdaq reiterated that it does not plan to participate in trading platforms operating under the SEC's innovation exemption, believing this is not the best path for stock tokenization. Meanwhile, Nasdaq will continue to promote the issuer-centric Nasdaq Equity Token model, planning to achieve stock tokenization within the existing market framework.

Sumitomo Mitsui Financial Group will invest approximately 5% in the joint venture SBI Startale Marketing, a collaboration between SBI Holdings and Startale Group, with the related investment to be completed soon. Sumitomo Mitsui FG and SBI are developing capital business partnerships, intending to leverage their customer base to develop financial services using the yen stablecoin JPYSC for asset management and payment scenarios.The joint venture is responsible for the planning of JPYSC applications and the development of blockchain financial products. After Sumitomo Mitsui FG's participation, the circulation and usage will further expand. JPYSC is issued by SBI Shinsei Trust Bank, with SBI VC Trade responsible for its circulation. It is a trust-type yen stablecoin that started offering on June 24, with an issuance balance of approximately 20.8 billion yen. Sumitomo Mitsui Bank has about 24 million individual customers and may consider using JPYSC for blockchain financial product settlements and instant settlements in the future.Sumitomo Mitsui Bank is also advancing the joint issuance of stablecoins with Mitsubishi UFJ, Mizuho, and others, and has announced empirical experiments to confirm the feasibility of the joint issuance model.

According to SoSoValue data, the total net outflow of the U.S. SOL spot ETF in a single day was $27.6915 million. The Bitwise Solana Staking ETF (BSOL) had the highest net outflow, reaching $23.6827 million, with a historical total net inflow of $1.133 billion; the Grayscale Solana Trust (GSOL) had a net outflow of $4.0088 million, with a historical total net inflow of $129 million.As of the time of publication, the total net asset value of the SOL spot ETF was $1.497 billion, with a SOL net asset ratio of 0%, and a historical cumulative net inflow of $1.479 billion.

According to SoSoValue data, the total net inflow for the HYPE and ZEC spot ETFs in the United States was $3.7034 million and $14.8097 million respectively, with a total net inflow of $18.5131 million.For HYPE, only the Bitwise Hyperliquid ETF (BHYP) recorded a net inflow on that day, amounting to $3.7034 million. The historical cumulative net inflow for this fund is $126 million. As of the time of writing, the total net asset value of the HYPE spot ETF is $468 million, with a net asset ratio of 2.11%, and a historical cumulative net inflow of $303 million.For ZEC, only the Zcash ETF (ZCSH) recorded a net inflow on that day, amounting to $14.8097 million, with a historical cumulative net inflow of $226 million. As of the time of writing, the total net asset value of the ZEC spot ETF is $788 million, with a net asset ratio of 3.71%, and a historical cumulative net inflow of $226 million.

According to SoSoValue data, yesterday (Eastern Time October 29), the total net inflow of XRP spot ETF was $8.4316 million.The XRP spot ETF with the highest net inflow yesterday was Franklin XRP ETF (XRPZ), with a net inflow of $5.5679 million for the day, bringing its historical total net inflow to $524 million. The second was Bitwise XRP ETF (XRP), with a net inflow of $2.8636 million for the day, bringing its historical total net inflow to $682 million.As of the time of writing, the total net asset value of XRP spot ETFs is $1.465 billion, with an XRP net asset ratio of 0%, and the historical cumulative net inflow has reached $1.809 billion.