# 24H Web3 News Recap #569

Web3 News Recap, edition 569. Published 2026-11-04. 8 min read. Canonical page: https://www.w3match.com/reports/recap-2026-11-04

Top stories: Democrats win the US Senate with 51 seats; Bitcoin briefly sinks to $75,700 on election results; CFTC approves US perpetual futures on individual stocks.

## Key numbers
- **Fear & Greed Index:** 34/100 (alternative.me, 2026-11-04; Fear, 26 yesterday)

## Macro & Policy

**Democrats win the US Senate with 51 seats after flipping six Republican-held states**

Iowa decided the majority, where Democrat Josh Turek won his race in the November 3 midterms. The seat count of 51 includes independents who caucus with Democrats, and the flipped states are Texas, Ohio, North Carolina, South Carolina, Kansas and Iowa. Control of the House was still being counted at publication. The CLARITY Act failed a Senate procedural vote 49-50 in September, and analyst Jerome de Tychey warned that if it is not passed by January, the next Congress starts from scratch.

Source: [Cointelegraph](https://cointelegraph.com/news/democrats-flip-us-senate-as-crypto-industry-faces-policy-reset)

**Sherrod Brown beats Jon Husted in Ohio despite $30M from crypto PAC Fairshake**

The Ohio race was called on Tuesday night, November 3, returning the former Democratic senator to the seat once held by JD Vance. Fairshake put $30 million into the race this year to back Republican incumbent Husted. Brown is a long-time critic of the crypto industry. He could chair the Senate Agriculture Committee, which oversees digital assets, now that Democrats control the chamber.

Source: [The Block](https://www.theblock.co/news/regulation/2026-11-03-sherrod-brown-defeats-jon-husted-432495)

## Macro & Global Markets

**Brent falls $1.17 to settle at $103.60, a second straight daily drop**

US crude WTI also slipped 37 cents to settle at $96.09 a barrel on Tuesday, November 3, after dipping below $95 during the session. Oil had already dropped more than 7% on Monday after Washington and Tehran signaled openness to talks. The Wall Street Journal reported US limited strikes on Iran's Qeshm Island, while Qatar sent a delegation to Tehran to mediate. Iran's Foreign Ministry said it will not accept diplomacy under coercion, and attacks on ships in the Gulf continue.

Source: [CNBC](https://www.cnbc.com/2026/11/03/oil-prices-climb-after-us-reportedly-strikes-irans-qeshm-island.html)

**US 10-year Treasury yield rises to 4.95% on November 3 from 4.91%**

• The 4 bps gain came on election day, before the first midterm results were counted.

• Same day: 2-year at 4.61% and 30-year at 5.32%.

• The 10-year closed at 4.94% on October 30 and 5.05% on October 28.

Source: [US Treasury](https://home.treasury.gov/resource-center/data-chart-center/interest-rates/TextView?type=daily%5Ftreasury%5Fyield%5Fcurve&field%5Ftdr%5Fdate%5Fvalue%5Fmonth=202611)

## Market & Sentiment

**Bitcoin briefly sinks to $75,700 as Nasdaq 100 futures drop 2.3%**

The drop came early Wednesday in Asian trading as the first midterm results came in, after Bitcoin had reached close to $78,000 late Tuesday. It recovered to about $76,700 during the Asian morning. S&P 500 futures fell 1.3%, erasing an early 0.5% gain. Early returns pointed to Democrats taking both chambers of Congress.

Source: [CoinDesk](https://www.coindesk.com/markets/2026/11/04/bitcoin-briefly-sinks-to-usd75-700-as-bets-on-a-democratic-sweep-rattle-markets)

**Total crypto market cap falls 1.9% in 24 hours to $2.62T, CoinGecko shows**

The snapshot was taken on the morning of November 4 (Warsaw time) from the CoinGecko global API. Bitcoin's share of total market cap stood at about 59.3%, with BTC near $77,300 and ETH near $2,277\. Zcash was the top gainer among the 100 largest coins at about 8.6%.

Source: [CoinGecko](https://www.coingecko.com/en/global-charts)

## Regulatory Developments

**CFTC approves perpetual futures on individual stocks for US exchanges for the first time**

Chair Michael Selig announced the decision on Tuesday, November 3, calling it a significant step for US market participants. Perpetuals have no expiry date and let traders bet on a price without owning the asset, a model popular on offshore venues such as Hyperliquid. Selig said the SEC and CFTC will both oversee the contracts under a framework that splits their roles. CFTC staff earlier cleared KalshiEX and Coinbase to list Bitcoin perpetuals.

Source: [The Block](https://www.theblock.co/news/regulation/2026-11-03-cftc-approves-individual-stock-perpetual-futures-trading-in-us-for-first-time-432422)

**SEC staff calls Canton Coin a digital commodity, granting Section 5 no-action relief**

The Division of Corporation Finance published the letter on November 3, signed by Deputy Chief Counsel Jonathan Ingram. Staff will not recommend enforcement if CC is minted programmatically by Super Validators, Validators and app providers without registration under Section 5 of the Securities Act or Section 12(g) of the Exchange Act. The view rests on CC's value coming from network operation and supply and demand, and on the lack of a central party. The letter does not rule on whether CC is a security. Digital Asset, which builds Canton Network, raised $355 million in June.

Source: [The Block](https://www.theblock.co/news/regulation/2026-11-03-sec-no-action-letter-canton-coin-digital-commodity-432492)

## Global Regulation

**South Korea's ruling party proposes delaying its 22% crypto tax to 2029**

The tax is set to start on January 1, 2027, and the Democratic Party committee vote on the delay came on November 3\. The levy is 20% on annual crypto gains above 2.5 million won, plus a 2% local tax. It was first legislated in 2020 and has been postponed three times, so this would be the fourth delay. The party wants the Digital Asset Basic Act enacted first, and the proposal still needs approval.

Source: [CoinDesk](https://www.coindesk.com/policy/2026/11/04/south-korea-s-ruling-party-wants-to-put-off-its-crypto-tax-again)

**Crypto.com will shut its Hong Kong consumer app on February 1, 2027**

Users received emails citing regulatory changes, while a spokesperson pointed to optimizing global operations. The app is run by Foris DAX MT Limited. A separate entity, Foris DAX HK Limited, applied for a Hong Kong VATP licence on February 9, 2024 and is still listed as deemed-to-be-licensed. Crypto.com keeps pursuing that licence for its institutional exchange, and users will get instructions for withdrawing funds.

Source: [Cointelegraph](https://cointelegraph.com/news/crypto-com-hong-kong-app-shutdown-license-pending)

## Exploits & Security

**GitBook revokes customer API tokens after an AI agent attack on November 2**

• GitBook says unauthorized access began at 7 p.m. CET on November 2 in a targeted attack using AI agents that obtained some infrastructure credentials.

• Possibly exposed: API tokens, integration secrets, Git Sync secrets and questions sent to its AI assistant; no evidence hosted content was changed.

• Users must rotate GitBook API tokens, replace third-party secrets and re-authenticate its MCP server.

• PancakeSwap took its docs offline as a precaution and moved them off GitBook.

• The app, API and published docs were back online by Tuesday afternoon.

Source: [Decrypt](https://decrypt.co/382465/crypto-docs-gitbook-ai-agent-security-breach)

**Liquid restores 1:1 LBTC backing after replacing 600 BTC withheld in a $320M exploit**

Attackers withdrew about 4,000 BTC from the Liquid Federation wallet on September 6 and returned about 3,400 BTC the next day. Blockstream refused their demand for a 10% bounty, leaving roughly 600 BTC missing. Board member Samson Mow said Blockstream funded the refill with deposits of 50 BTC on October 28 and 300 BTC plus 250 BTC on November 2\. The Federation announced full reserves on November 3 and plans new governance and security safeguards in the coming weeks.

Source: [The Block](https://www.theblock.co/news/ecosystems/2026-11-03-liquid-network-restores-full-bitcoin-backing-following-exploit-432387)

## Institutional Moves

**Block raises 2026 gross profit guidance to $12.63B, shares rise 6% after hours**

• Q3 revenue $6.72B, up from $6.12B a year earlier; gross profit up 22% to $3.24B.

• Cash App gross profit $2.07B, up 27%; Cash App revenue $4.07B, including $1.77B from bitcoin.

• Bitcoin gross profit fell 50% to $52M after a deliberate Cash App fee cut.

• Block expects 2027 gross profit to grow at least 15%.

• XYZ closed down 1.4% at $76 before the report.

Source: [The Block](https://www.theblock.co/news/business/2026-11-03-block-q3-earnings-shares-rise-432585)

**Ark Invest buys 12,835 Circle shares for about $965K and trims Bullish**

The trades were made on Tuesday, November 3\. Ark sold 37,754 Bullish shares in the same session. Circle has often made up about 4% to 6% of Ark's ETFs. A day earlier Ark bought about $17 million of Coinbase and Circle shares while also cutting Bullish.

Source: [Crypto Briefing](https://cryptobriefing.com/ark-invest-buys-circle-shares-sells-bullish/)

## Infrastructure & Layer 2

**Cross River picks Arbitrum to tokenize loans at origination, targeting early 2027**

CEO Gilles Gade announced the partnership at Hong Kong Fintech Week on November 3\. Loans would be funded, held and transferred onchain from creation on Arbitrum One. Offchain Labs' Enterprise Services team builds the system and ZeroDev provides embedded customer wallets. Borrowers keep using their existing apps, and Cross River stays the regulated lender. A proof of concept is complete, with production targeted for early 2027.

Source: [crypto.news](https://crypto.news/cross-river-arbitrum-loan-tokenization-2027/)

**Aztec's Tierra V6 upgrade doubles private proof speed, cuts Ethereum messages to 12 seconds**

• Launched November 3, the release fixes earlier flaws, including a critical issue in V5, and adds AI-based security testing.

• Messages from Ethereum now reach Aztec in as little as 12 seconds, down from about two minutes on average.

• Proof generation takes about 1 second on a native device; the network has more than 3,000 validators.

• Apps such as Galactica, Nemi, Nulo and Xochi are launching or preparing to launch.

Source: [The Block](https://www.theblock.co/news/defi/2026-11-03-ethereum-l2-aztec-tierra-v6-upgrade-private-apps-432399)

## AI & Technology

**CrowdStrike launches an AI agent kill switch, plans to buy Fiddler AI for about $400M**

The tool, part of the Falcon Guardian platform, was unveiled on Tuesday at Fal.Con Europe 2026 in Barcelona. It lets security teams stop an AI agent mid-task by blocking its access to the models it relies on through AI gateways, with each action logged. Direct termination of agent processes on devices is planned but not yet available. The Wall Street Journal put the Fiddler AI price at about $400 million, which CrowdStrike has not disclosed, and the deal should close by January 31, 2027.

Source: [Decrypt](https://decrypt.co/382467/crowdstrike-ai-agent-kill-switch-acquire-fiddler-ai)

**Nvidia plans to give China about 1% of a $70B RTX PRO 5500 order**

Bloomberg reported that Chinese customers ordered more than 6 million RTX PRO 5500 workstation cards, worth about $70 billion at list prices. ByteDance, Alibaba and Tencent account for over 3 million units, roughly $35 billion. Nvidia estimates global 2027 production capacity for the card at 3 million units and told partners it cannot guarantee the orders. Earlier reports suggested China might get 5% to 10% of requested cards. Samples are expected by December 2026, with shipments from Q1 2027.

Source: [Crypto Briefing](https://cryptobriefing.com/nvidia-rtx-pro-5500-china-allocation/)

## Sources
- [Democrats flip US Senate as crypto industry faces policy reset](https://cointelegraph.com/news/democrats-flip-us-senate-as-crypto-industry-faces-policy-reset), cointelegraph.com, 2026-11-04
- [Former Sen. Sherrod Brown defeats Jon Husted, dealing a blow to crypto PAC Fairshake](https://www.theblock.co/news/regulation/2026-11-03-sherrod-brown-defeats-jon-husted-432495), theblock.co, 2026-11-03
- [Crude oil prices fall for second day as market hopes for diplomatic resolution to Iran war](https://www.cnbc.com/2026/11/03/oil-prices-climb-after-us-reportedly-strikes-irans-qeshm-island.html), cnbc.com, 2026-11-03
- [Daily Treasury Par Yield Curve Rates, November 2026](https://home.treasury.gov/resource-center/data-chart-center/interest-rates/TextView?type=daily_treasury_yield_curve&field_tdr_date_value_month=202611), home.treasury.gov, 2026-11-03
- [Bitcoin briefly sinks to $75,700 as bets on a Democratic sweep rattle markets](https://www.coindesk.com/markets/2026/11/04/bitcoin-briefly-sinks-to-usd75-700-as-bets-on-a-democratic-sweep-rattle-markets), coindesk.com, 2026-11-04
- [CoinGecko global crypto market data](https://www.coingecko.com/en/global-charts), coingecko.com, 2026-11-04
- [CFTC approves individual stock perpetual futures trading in US for the first time](https://www.theblock.co/news/regulation/2026-11-03-cftc-approves-individual-stock-perpetual-futures-trading-in-us-for-first-time-432422), theblock.co, 2026-11-03
- [SEC division views Canton Coin as digital commodity in no-action letter](https://www.theblock.co/news/regulation/2026-11-03-sec-no-action-letter-canton-coin-digital-commodity-432492), theblock.co, 2026-11-03
- [South Korea's ruling party wants to put off its crypto tax again](https://www.coindesk.com/policy/2026/11/04/south-korea-s-ruling-party-wants-to-put-off-its-crypto-tax-again), coindesk.com, 2026-11-04
- [Crypto.com to withdraw Hong Kong consumer app citing regulatory changes](https://cointelegraph.com/news/crypto-com-hong-kong-app-shutdown-license-pending), cointelegraph.com, 2026-11-03
- [Crypto Docs Host GitBook Hit by AI Agent Security Breach, Urges Users to Rotate Keys](https://decrypt.co/382465/crypto-docs-gitbook-ai-agent-security-breach), decrypt.co, 2026-11-03
- [Liquid Network restores full bitcoin backing following $320 million exploit](https://www.theblock.co/news/ecosystems/2026-11-03-liquid-network-restores-full-bitcoin-backing-following-exploit-432387), theblock.co, 2026-11-03
- [Block Inc. shares rise 6% after-hours as it raises full-year profit forecast](https://www.theblock.co/news/business/2026-11-03-block-q3-earnings-shares-rise-432585), theblock.co, 2026-11-03
- [Ark Invest buys 12,835 Circle shares for roughly $965K, trims Bullish](https://cryptobriefing.com/ark-invest-buys-circle-shares-sells-bullish/), cryptobriefing.com, 2026-11-04
- [Cross River taps Arbitrum for loan tokenization ahead of 2027 rollout](https://crypto.news/cross-river-arbitrum-loan-tokenization-2027/), crypto.news, 2026-11-03
- [Ethereum Layer 2 Aztec gets Tierra V6 upgrade to support faster private apps](https://www.theblock.co/news/defi/2026-11-03-ethereum-l2-aztec-tierra-v6-upgrade-private-apps-432399), theblock.co, 2026-11-03
- [CrowdStrike Launches AI Agent 'Kill Switch,' Plans to Acquire Fiddler AI](https://decrypt.co/382467/crowdstrike-ai-agent-kill-switch-acquire-fiddler-ai), decrypt.co, 2026-11-03
- [Nvidia allocates 1% of $70B RTX chip order to China clients](https://cryptobriefing.com/nvidia-rtx-pro-5500-china-allocation/), cryptobriefing.com, 2026-11-03

Every number names its provider and date. Not financial advice.