# 24H Web3 News Recap #570 Web3 News Recap, edition 570. Published 2026-11-05. 8 min read. Canonical page: https://www.w3match.com/reports/recap-2026-11-05 Top stories: Trump Media moves $342M in Bitcoin to Crypto.com; Brent plunges 8.7% to $94.62 after the midterms; Morgan Stanley tokenizes US stocks and Treasurys via DTCC. ## Key numbers - **Fear & Greed Index:** 50/100 (alternative.me, 2026-11-05; Neutral, 34 yesterday) ## Macro & Global Markets **Brent settles 8.7% lower at $94.62 as Vance blames the Iran war for midterm losses** US crude (WTI) fell 8.3% on Wednesday to settle at $88.12 a barrel. Traders read the Democratic sweep of the House and Senate as raising the odds that Trump makes a deal with Iran, and analyst Andy Lipow said Democrats may also try to restrict war funding. Vice President JD Vance said "The reason we lost is the war," and Trump told the Financial Times he has no immediate plans to strike Iran. Oil futures have fallen more than 14% this week after Brent traded near $118 last Friday. Rapidan Energy's Bob McNally still sees the odds favoring escalation, and CIBC's Rebecca Babin said the sell-off could be overdone. Source: [CNBC](https://www.cnbc.com/2026/11/04/oil-price-iran-war-us-election-strait-hormuz.html) **Dow jumps 1,569 points, or 3.03%, to 53,356, its best day since April 2025** The blue-chip index closed at 53,356.12 on Wednesday, the first trading day after the midterms. The S&P 500 rose 1.58% to 7,688.62 and the Nasdaq Composite gained 1.44% to 25,736.51\. Investors pointed to falling oil, lower Treasury yields and the end of election uncertainty, with gridlock in Washington seen as a check on policy swings. Source: [CNBC](https://www.cnbc.com/2026/11/03/stock-market-today-live-updates.html) ## Market & Sentiment **Bitcoin climbs back above $80,000 as Ether jumps 8% to about $2,425** BTC traded around $80,484 in Asian hours on Thursday, up 5.7% in 24 hours, according to CoinGecko data cited by CoinDesk. Ether rose about 8% to near $2,425 over the same period. The rally followed a 1.6% gain in the S&P 500 on Wednesday and an over 8% drop in Brent crude. Source: [CoinDesk](https://www.coindesk.com/markets/2026/11/05/bitcoin-holds-above-usd80-000-as-zcash-jumps-12-in-post-election-crypto-rebound) **Zcash jumps 11.7% to $1,318 ahead of NU7, which cuts block time to 25 seconds** About $1.2 billion in ZEC changed hands over the prior day. The NU7 network upgrade is expected around Friday and will reduce the target block time from 75 seconds. CoinDesk ties the gain both to the upgrade and to the wider post-election rebound in crypto. Source: [CoinDesk](https://www.coindesk.com/markets/2026/11/05/bitcoin-holds-above-usd80-000-as-zcash-jumps-12-in-post-election-crypto-rebound) ## Institutional Moves **Trump Media moves 4,259 BTC, about $342M, from loan collateral wallets to Crypto.com** • The coins left in two batches of 2,140.03 BTC and 2,119.31 BTC at 02:17 UTC on November 5, per Arkham data. • The sending wallets are labeled "2028 Convertible Notes Collateral", matching the roughly 4,260.73 BTC the company pledged for its convertible notes as of June 30. • The transfer equals about 30% of the roughly 14,139 BTC Trump Media reported holding as of July 31. • Noteholders can demand repayment on November 30, which could force a payment of about $1 billion, and a November 2 filing warned the company may have to sell bitcoin. • Onchain movement alone does not prove a sale, and earlier transfers to Crypto.com in May and August were described as trading strategy and custody moves. Source: [CoinDesk](https://www.coindesk.com/markets/2026/11/05/trump-media-moves-usd434-million-in-bitcoin-to-crypto-com-blockchain-data-show) **Circle's Q3 revenue rises 17% to $865M as it cuts about 5% of staff** Net income from continuing operations reached $226 million, versus $214.4 million a year earlier. USDC circulation averaged $73.3 billion in the quarter, up 8% year over year, and ended September at $73.9 billion. Circle booked $9.1 million in restructuring charges for the job cuts and did not give a headcount; it had about 1,100 employees at the end of 2025\. The quarter also included $182 million recognized from the ARC token presale, which totals $242.2 million at $0.30 per token. Source: [The Block](https://www.theblock.co/news/business/2026-11-04-circle-reports-865-million-in-q3-revenue-and-reserve-income-discloses-5-workforce-reduction-432671) ## Regulatory Developments **Hong Kong passes the OECD crypto tax reporting law, data collection starts January 2027** The Legislative Council approved the Inland Revenue (Amendment) (Crypto-Asset Reporting Framework and Amended Common Reporting Standard) Bill 2026 on November 4\. Covered crypto service providers must collect customer and transaction details for the Inland Revenue Department, which will share them each year with partner jurisdictions. Automatic CARF exchanges begin in 2028, while the amended CRS takes effect in 2028 with first exchanges in 2029. Source: [crypto.news](https://crypto.news/hong-kong-passes-crypto-tax-reporting-law-with-new-rules-starting-in-2027/) **OCC issues its first AI framework for banks, a 22-page guide with four risk tiers** • Examiners are told to judge AI by the consequences of failure and its level of autonomy, not by how advanced the model is. • The guidance is nonbinding and adds no new requirements; AI is assessed within existing operational, compliance and cyber risk categories. • Fully autonomous payment agents and real-time credit systems sit in the highest risk tier, basic internal productivity tools in the lowest. • Suggested controls include identity checks, transaction limits, circuit breakers, rate limits and emergency shutdown. • It also covers outside AI agents run by customers or fintechs that connect through bank channels. Source: [Decrypt](https://decrypt.co/382560/us-bank-regulator-issues-first-ai-framework-banks-battle-rogue-agents) ## RWA & Tokenization **Morgan Stanley tokenizes US stocks and Treasurys through DTCC, which holds $114T in custody** The bank used the tokenization service of DTC, the DTCC depository unit, which launched the week before with 20 participants including Bank of America, Citi, JPMorgan and State Street. The service was built with input from more than 150 firms and first supports Canton and a private Besu network. Morgan Stanley now expects to support tokenized equities on its alternative trading system in Q1 2027, later than its earlier H2 2026 target. Source: [The Block](https://www.theblock.co/news/markets/2026-11-04-morgan-stanley-among-first-banks-to-tokenize-us-equities-treasurys-through-dtccs-service-432633) **Schroders, a $1T-plus manager, brings its emerging market bond fund to Solana via Centrifuge** The tokenized product is the Schroder International Selection Fund Emerging Market Bond, which covers sovereign, corporate and local-currency debt. It is Schroders' first deployment on Solana, with Centrifuge handling the launch. Centrifuge earlier worked with New York Life Investment Management on a tokenized high-yield bond fund and with Coinbase on tokenized products on Base. Source: [The Block](https://www.theblock.co/news/business/2026-11-04-schroders-centrifuge-tokenized-emerging-markets-debt-fund-solana-432878) ## Security & Exploits **Polygon proposes a hard fork returning 70.49M POL stolen in Binance and Polymarket hacks** • The tokens, worth about $6.5 million, sit in five addresses that Polygon block producers have already restricted: about 46.63M POL tied to Binance and 23.86M POL tied to Polymarket. • The fork would move the balances to recovery wallets verified by Binance and Polymarket, with no new POL minted. • The proposal goes to the Polygon Protocol Governance Call on November 5 at 14:30 UTC; no vote has been held and no activation block is set. • Developers estimate about two weeks of work and testing on the Amoy testnet after approval, and nodes that do not upgrade risk a chain split. • The proposal calls the step an extreme action that should not be repeated often. Source: [crypto.news](https://crypto.news/polygon-hard-fork-recover-stolen-binance-polymarket/) **Privacy Cash pauses deposits after Elliptic traces $1.2M in Binance hack funds** The flagged inflows included about 41 ETH and 9,600 SOL on November 3 and about 2,300 SOL on November 4\. Privacy Cash is a zero-knowledge privacy pool that runs on Solana, Ethereum, Base, BNB Chain and Robinhood Chain. Withdrawals stay open for existing users, and no date was given for reopening deposits. The protocol did not explain how the funds passed its screening. Source: [crypto.news](https://crypto.news/privacy-cash-pauses-deposits-binance-hack/) ## Layer 1 & Cross-Chain **Ethereum researchers map about seven hard forks to reach Lean Ethereum by end of 2029** Researchers working with the Ethereum Foundation, including Vitalik Buterin, set the forks under placeholder names H\* through L\*, with Glamsterdam as the next upgrade. Lean Ethereum, first proposed by Justin Drake in mid-2025, would be the third major version of the protocol after launch and the 2022 Merge. The plan adds hash-based quantum-safe signatures, recursive STARK proofs and a two-tier state model. Existing applications should keep working without being rebuilt. Source: [Crypto Briefing](https://cryptobriefing.com/ethereum-fork-plan-lean-ethereum-2029/) **ApeChain moves APE, live on 8 chains, from LayerZero to Chainlink CCIP** ApeCoin called CCIP its new canonical cross-chain stack, and APE, USDC and other key ApeChain assets will become Chainlink Cross-Chain Tokens. APE currently runs on ApeChain, Ethereum, Arbitrum, Solana, HyperEVM, BSC, Monad and Robinhood. No migration deadline or holder instructions were published. The move was not linked to any exploit of the existing setup. Source: [crypto.news](https://crypto.news/apechain-chainlink-ccip-ape-usdc-layerzero-migration/) ## Bitcoin Mining **American Bitcoin posts $126M Q3 profit on a $197.3M gain on its Bitcoin** • The result compares with a $57.2 million loss in Q2. • Mining revenue fell to about $63.4 million from $67.0 million, and the company mined about 891 BTC versus 932 in Q2. • Cost to mine rose to about $42,100 per BTC from $36,500, and gross margin slipped to 41% from 49%. • Holdings reached about 8,427 BTC on September 30, including about 3,090 BTC pledged for Bitmain miner purchases. Source: [Bitcoin Magazine](https://bitcoinmagazine.com/news/american-bitcoin-126m-q3-profit) **Hut 8 shares sink over 22% intraday after Q3 revenue falls 15% to $71.1M** The miner reported $71.1 million in third-quarter revenue, below analyst estimates of $75.8 million. The drop came on the same day rival Riot rose more than 13% on a large AI data center lease, as investors compared how miners are handling the shift to AI hosting. Source: [Cointelegraph](https://cointelegraph.com/news/riots-28b-ai-deal-lifts-shares-as-hut-8-faces-transition-costs) ## AI Infrastructure **Riot's $28B, 15-year, 910 MW AI lab lease takes effect, shares jump over 13%** • The triple-net powered land lease covers all of Riot's Corsicana, Texas campus and was signed October 28. • Riot's filing names the tenant only as a leading frontier AI lab. • Capacity comes in three phases of 400 MW, 200 MW and 310 MW across 40 blocks. • Riot funds $2 million per IT MW for site and electrical work, and rent is due on the full 910 MW regardless of use. • It is Riot's largest AI lease, after a separate 191 MW Rockdale lease signed in August. Source: [SEC EDGAR (Riot Platforms)](https://www.sec.gov/Archives/edgar/data/0001167419/000110465926122368/riot-ex99d1.htm) **US voters approve 43 of 44 local ballot measures restricting AI data centers** The measures on the November 3 ballot include bans, moratoriums and limits on power use, and many passed with over 70% support. Ohio stood out, alongside votes in Maine, Kansas, Wisconsin and North Dakota. The single measure that went the other way, in North Dakota, favored development. Some of the measures are binding and others only advisory. Source: [Crypto Briefing](https://cryptobriefing.com/us-voters-approve-43-of-44-measures-restricting-data-centers/) ## Sources - [Crude oil prices fall below $90 a barrel as Vance blames GOP election defeat on Iran war](https://www.cnbc.com/2026/11/04/oil-price-iran-war-us-election-strait-hormuz.html), cnbc.com, 2026-11-04 - [Dow soars 1,500 points for best day since April 2025 on clear-cut Democratic win, falling oil](https://www.cnbc.com/2026/11/03/stock-market-today-live-updates.html), cnbc.com, 2026-11-04 - [Bitcoin holds above $80,000 as Zcash jumps 12% in post-election crypto rebound](https://www.coindesk.com/markets/2026/11/05/bitcoin-holds-above-usd80-000-as-zcash-jumps-12-in-post-election-crypto-rebound), coindesk.com, 2026-11-05 - [Trump Media moves $342 million in bitcoin to Crypto.com, blockchain data show](https://www.coindesk.com/markets/2026/11/05/trump-media-moves-usd434-million-in-bitcoin-to-crypto-com-blockchain-data-show), coindesk.com, 2026-11-05 - [Circle reports $865 million in Q3 revenue and reserve income, discloses 5% workforce reduction](https://www.theblock.co/news/business/2026-11-04-circle-reports-865-million-in-q3-revenue-and-reserve-income-discloses-5-workforce-reduction-432671), theblock.co, 2026-11-04 - [Hong Kong passes crypto tax reporting law with new rules starting in 2027](https://crypto.news/hong-kong-passes-crypto-tax-reporting-law-with-new-rules-starting-in-2027/), crypto.news, 2026-11-04 - [US Bank Regulator Issues First AI Framework as Banks Battle Rogue Agents](https://decrypt.co/382560/us-bank-regulator-issues-first-ai-framework-banks-battle-rogue-agents), decrypt.co, 2026-11-04 - [Morgan Stanley among first banks to tokenize US equities, Treasurys through DTCC's service](https://www.theblock.co/news/markets/2026-11-04-morgan-stanley-among-first-banks-to-tokenize-us-equities-treasurys-through-dtccs-service-432633), theblock.co, 2026-11-04 - [Schroders launches tokenized emerging markets debt fund on Solana with Centrifuge](https://www.theblock.co/news/business/2026-11-04-schroders-centrifuge-tokenized-emerging-markets-debt-fund-solana-432878), theblock.co, 2026-11-04 - [Polygon considers hard fork to return $6.5M stolen in Binance, Polymarket hacks](https://crypto.news/polygon-hard-fork-recover-stolen-binance-polymarket/), crypto.news, 2026-11-05 - [Privacy Cash pauses deposits after $1.2m in Binance-linked inflows](https://crypto.news/privacy-cash-pauses-deposits-binance-hack/), crypto.news, 2026-11-04 - [Ethereum outlines fork plan to reach Lean Ethereum by 2029](https://cryptobriefing.com/ethereum-fork-plan-lean-ethereum-2029/), cryptobriefing.com, 2026-11-04 - [ApeChain to replace LayerZero with Chainlink CCIP for APE and USDC](https://crypto.news/apechain-chainlink-ccip-ape-usdc-layerzero-migration/), crypto.news, 2026-11-04 - [American Bitcoin (ABTC) Posts $126 Million Profit as Holdings Gain $197 Million](https://bitcoinmagazine.com/news/american-bitcoin-126m-q3-profit), bitcoinmagazine.com, 2026-11-04 - [Riot shares surge on $28B AI lease as Hut 8 sinks on revenue miss](https://cointelegraph.com/news/riots-28b-ai-deal-lifts-shares-as-hut-8-faces-transition-costs), cointelegraph.com, 2026-11-04 - [Riot Platforms Form 8-K exhibit: Corsicana lease](https://www.sec.gov/Archives/edgar/data/0001167419/000110465926122368/riot-ex99d1.htm), sec.gov, 2026-11-04 - [US voters approve 43 of 44 measures restricting data centers](https://cryptobriefing.com/us-voters-approve-43-of-44-measures-restricting-data-centers/), cryptobriefing.com, 2026-11-04 Every number names its provider and date. Not financial advice.