24H Web3 News Recap #566

Bitcoin heads for a 7.7% October loss, its weakest October since 2014

BTC traded near $77,000 on Friday, October 30, down 1.1% on the day and at its lowest level since September 18. CoinGlass data puts the monthly loss at 7.7%, the weakest October since 2014, though the month had not closed yet. Binance's $6.3B hack and the sell-off in tech stocks both weighed on prices.

Source: Cointelegraph

Coinbase shares fall over 13% Friday, with Circle down 9% and Strategy 8%

• IREN fell more than 10% and Figure Technology Solutions about 9% on Friday, October 30.

• Coinbase had reported Q3 net revenue down about 34% year over year to $1.16B, with $719M net income driven by about $715M in crypto investment gains.

• Strategy reported revenue down 3% to $125.4M, and its CFO said he will step down on November 5.

• The Binance hack, confirmed at about $6.3B, added to the selling.

Source: Cointelegraph

Binance sets aside $6.34B to cover hack losses, aims to reopen withdrawals Sunday

CEO Richard Teng said in a video address on Friday, October 30, that customer funds were not touched. About $5B of the reserve is already held in the same tokens that were stolen, including USDC, USDT, BTC, ETH and BNB, and Binance is buying the rest through market and OTC channels. The exchange plans to publish a full proof of reserves by Monday, with an initial view before then.

Source: Decrypt

TRM Labs and Chainalysis tie the $6.4B Binance hack to North Korea's TraderTraitor

• Both firms gave the attribution with high confidence; the FBI blamed the same group for the $1.5B Bybit hack in 2025.

• Chainalysis saw stolen funds mixing in real time with proceeds of last month's Bitget exploit, and both firms said the attacker's wallet was funded through Tornado Cash.

• Funds left Binance wallets on 10 blockchains, mostly within about 20 minutes.

• The attacker still holds over 420,000 ETH and 18,270 BTC, about $2.4B beyond issuers' reach, while about $2.67B in stablecoins has been frozen.

Source: Decrypt

Trezor tells CryptoBilis buyers since March to move funds over a suspected Safe 5 implant

The reported implant is an extra circuit board between the main board and the screen, with a cellular module that could read recovery phrases and send them over a mobile network. Trezor received the report on October 28 and treats it as credible after a video call with the customer, though it has not yet received the device. The unit was bought through Tokopedia in August 2026 from CryptoBilis, a Southeast Asian distributor Trezor removed from its reseller network this month. Four other devices from the reseller showed no tampering. Affected buyers can contact Trezor Support for a replacement.

Source: The Block

Texas brothers get 15 and 15.5 years for an $8M crypto home invasion robbery

Raymond Garcia received 15 years and Isiah Garcia 15.5 years on Friday, October 30, after pleading guilty in June to robbery interfering with commerce. In September 2025 they held a Minnesota family at gunpoint for nine hours and forced the father to transfer crypto to their wallet. The victim's son called 911 and the brothers fled. Investigators traced them to Waller, Texas, through a Wendy's receipt, a motel rental and a rental car.

Source: The Block

SEC charges BG Wealth Sharing and DSJ Exchange over a $130M crypto fraud

• Both firms are foreign-operated and incorporated in Colorado; the case was filed in the Northern District of California.

• BG Wealth promised risk-free returns from crypto trading signals and falsely claimed to be SEC-registered and the world's largest hedge fund.

• The firms allegedly filed false Form ADV and Form D documents and showed fake certificates with the SEC seal.

• Tens of thousands of retail investors in over 40 states were targeted from at least October 2025 to June 2026.

• The SEC seeks permanent injunctions, disgorgement and civil penalties.

Source: Bitcoin Magazine

South Korea moves to block TetherMax and SuperTrust, lifting its illegal operator tally to 47

The Financial Intelligence Unit asked the communications review authority to cut domestic access to both platforms, which still has to decide on the request. A third firm, Aegis Ventures, was referred to investigators but not blocked because it has no website or app. The count of unregistered operators reported by the FIU rose from 44 to 47. Earlier in October the FIU ordered restrictions on 27 crypto websites, including KuCoin, MEXC and BingX. Unregistered operation carries up to five years in prison or fines up to 50 million won.

Source: crypto.news

Tether posts $1.5B Q3 profit as excess reserves nearly double to $7.95B

• The buffer rose from $4.1B at the end of June.

• Assets stood at $191.5B against $183.5B in liabilities at the end of September.

• US Treasury bill holdings reached $132.4B, and Bitcoin holdings $8.37B, up from about $5.8B in June.

• Net operating profit for the first nine months of 2026 is $4.5B.

Source: Cointelegraph

Uber gains 1.5 extra days of yield using a tokenized money fund on Canton

Bloomberg reported that Uber bought a Franklin Templeton tokenized money market fund on a Thursday and sold it on Sunday, paying with HSBC tokenized deposits. Companies normally sell such investments before Friday's market close, so keeping the cash invested over the weekend added the extra days of earnings. Canton handled liquidity and settlement, with Tradeweb and Fireblocks also taking part. The amount invested was not disclosed.

Source: crypto.news

Anchorpoint brings its HKDAP stablecoin to Solana, which hosts $4.9B in tokenized assets

The Hong Kong dollar stablecoin will get native minting and redemption on Solana for retail payments and tokenized asset trading, with no launch date yet. Anchorpoint is a joint venture of Standard Chartered Hong Kong, HKT and Animoca Brands and received a Hong Kong Monetary Authority issuer license in April 2026. HKDAP currently runs as a controlled rollout for verified users and approved distributors such as HashKey Exchange. The Solana Foundation also joined Anchorpoint's Tokenised Money Adoption Programme after PwC.

Source: crypto.news

India's CoinDCX puts futures in reduce-only mode after Binance's $6.3B hack

Traders on India's largest crypto exchange cannot open new positions or increase existing ones, but can still adjust margin and close trades. A spokesperson told CoinDesk the global liquidity provider behind the move is Binance, a key source of CoinDCX futures liquidity. Deposits and withdrawals keep working normally, and the restriction is temporary with no end date given.

Source: CoinDesk

OpenAI cuts its funding goal by $10B to up to $30B, valuation target to $1.25T

The pre-money valuation target dropped from $1.4T to $1.25T, still about 50% above the $852B set in the March 2026 round. Demand from Morgan Stanley private-wealth clients and other investors was weak. The round is interim funding ahead of a planned IPO in the first half of 2027, with Coatue and UAE-based funds courted as leads.

Source: Crypto Briefing

Intel shares plunge nearly 30% to $65.76, erasing $146B, its worst day since 1974

• Q4 guidance calls for $15B to $16B in revenue, below the $17.07B analysts expected, and adjusted EPS of $0.25 versus $0.43.

• Q3 itself was strong: revenue rose 21% to $16.5B and Data Center and AI revenue jumped 78% to $7.3B.

• The CFO called 2027 an investment year and said free cash flow would likely be negative.

• Supply shortages in manufacturing and packaging limit AI server chip output.

Source: Decrypt