Binance Sees $5.3B Net Outflows After Record Hack; CEO Reports Early Recovery

·1 views

Binance experienced net outflows of $5.3 billion following a record-setting hack. Nearly $11 billion left the exchange over a 46-hour period. The exchange's CEO, Richard Teng, said that hourly deposits had started to exceed withdrawals, signaling early signs of recovery. The article presents the CEO's statement as an indication that the situation is improving. No further details about the hack's cause or scale are provided in the source text.

Read the full story at CoinDesk

This is an AI-generated summary. ShortSingh links to the original source for the complete article.

Discussion (0)

Bitcoin is defying a midterm election pattern that has held since 2014

CoinDesk's day-ahead market outlook for November 3, 2026 notes that bitcoin is departing from a historical trend tied to midterm election years. The pattern has been observed in bitcoin's price behavior dating back to 2014. The source text provided is brief and does not detail the specific price movements or the causes behind the divergence. Readers should consult the full CoinDesk report for the underlying data and analysis.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

ETHGas plans to bring Wall Street-style trading to public Ethereum via advance block reservations

ETHGas is proposing a service that lets users buy advance reservations for specific Ethereum blocks, borrowing a concept familiar from traditional financial markets. The model aims to give participants more predictable transaction inclusion on the public Ethereum network. However, the article notes a significant gap: validators who fail to honor their reservation commitments currently face no required financial compensation. That absence of penalties raises questions about the reliability of the reservations as offered. The report does not detail a timeline for the service's launch.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Bitcoin Steadies After Dip to $76,300 Amid ETF Outflows and Midterm Election Jitters

Bitcoin rose 0.2% to roughly $76,900 following a dip to $76,300, according to the report. Spot bitcoin ETFs recorded net outflows of $399 million for a second consecutive day. Binance customers also withdrew a net $4.72 billion over the same period. Analysts cited the upcoming midterm elections as an additional factor weighing on crypto markets. The article presents these developments as the backdrop to the token's recent price movement.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Liquid's bitcoin IOUs fully backed again after $320 million exploit

Liquid's bitcoin-pegged tokens are once again fully backed following a roughly $320 million exploit. A final transfer of 250 BTC closed the shortfall left by a bug that surfaced in September. The federation that operates the network has not disclosed who supplied the funds used to refill the gap. The episode restores the one-to-one backing that holders of the tokens rely on. Questions about the source of the replenishment remain unanswered.

0 comments Read more at CoinDesk