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Coinbase reported $1.20 billion in third-quarter revenue, missing expectations as monthly transacting users fell. Recurring income grew, while planned executive share sales and a $6.3 billion Binance breach added pressure to crypto markets.
Bitcoin fell after Binance suffered a record $6.4 billion hack, but avoided the dramatic plunge seen after a 2018 attack. A larger market, U.S. spot Bitcoin ETFs, institutional ownership and a less panicked backdrop helped limit the immediate reaction.
Two Texas brothers were sentenced to a combined 326 months for holding a Minnesota family at gunpoint and forcing the father to transfer more than $8 million in cryptocurrency during a 2025 home invasion.
Binance is working with the FBI and U.S. Secret Service after a multibillion-dollar hack, while Circle and Tether froze digital assets linked to the attack. Investigators have attributed the theft to TraderTraitor, a North Korean hacking group previously linked to the Bybit breach.
Coinbase shares fell more than 13% as crypto-linked stocks sold off after Binance disclosed a $6.3 billion breach. Circle, Strategy, IREN and Figure also declined, while quarterly results showed profits boosted by cryptocurrency investment gains despite weaker revenue.
Bitcoin’s potential quantum-security problem is becoming an economic concern as institutions assess its long-term viability. Meanwhile, Ripple won a US banking charter, USDC expanded its European trading lead and VanEck launched an ETF with a small Bitcoin allocation.
Binance says it has replenished 90% of assets stolen in a record $6.3 billion cryptocurrency hack and plans to reopen withdrawals in stages. Investigators are examining hot-wallet controls, EIP-7702 and possible North Korean links, while about $3 billion in assets has been frozen.
Binance estimates the impact of its record crypto hack at $6.3 billion, with $3 billion in assets frozen. The exchange says it has reserved more than $6.34 billion to cover losses, is working with the FBI and aims to restore withdrawals after further security checks.
Binance CEO Richard Teng says the exchange has reserved more than $6.34 billion to cover all losses from a hot-wallet hack, including $5 billion in stolen tokens. Withdrawals may resume Sunday, while a full proof-of-reserves report is planned for Monday.
Binance says a $6.3 billion exploit was broader than initially understood, with hackers bypassing security checks and erasing evidence. The exchange is targeting Sunday to restart withdrawals and plans to publish proof of reserves on Monday, according to CoinDesk.
Binance says it has reserved more than $6.34 billion to cover a record cryptocurrency theft, while CZ pushed back after Elon Musk appeared to mock the exchange. The dispute focused on Binance’s SpaceX shares, valued by CZ at more than $1 billion.
Bitcoin hovered near $77,000 as a technology-led sell-off hit US stocks and pushed gold to its lowest level in a year. The cryptocurrency was on track for a 7.7% October decline, its weakest monthly performance for that month since 2014, amid wider market pressure and the Binance hack.
The SEC has charged BG Wealth Sharing and DSJ Exchange with allegedly raising more than $130 million from tens of thousands of investors through a crypto scheme involving false filings, risk-free return promises and fake signs of regulatory approval.
Ethereum’s EIP-7702 upgrade was used to help drain about $6.4 billion from Binance wallets in October. The incident exposed the security risks of letting ordinary wallets temporarily run smart-contract code while underscoring that the theft involved compromised signing access, not necessarily an Ethereum protocol flaw.
Analysts at Cantor Fitzgerald, TD Cowen and Compass Point say a reported $6.3 billion Binance hack is unlikely to derail the cryptocurrency market’s recovery. They are urging investors to consider crypto stocks despite the security incident, according to CoinDesk.
Blockchain analytics firms have linked Binance’s reported $6.3 billion theft to North Korea-associated TraderTraitor. The incident may be the largest crypto hack on record, prompting asset freezes, a market sell-off and Binance’s pledge to cover losses from company reserves.
Tyler Evans said Bitcoin ETF flows have moved from “highly negative” to strong accumulation, while discussing Federal Reserve policy, bond yields, institutional demand, treasury companies and the potential importance of U.S. midterm elections ahead of 2027.
A US fusion startup says it has converted mercury into stable gold through nuclear transmutation. The achievement remains microscopic and commercially unproven, but it has revived debate over gold’s scarcity and whether Bitcoin’s fixed 21-million supply could strengthen its digital-gold narrative.
