The Crypto Read

Bitcoin staged a V-shaped recovery above $78,000 after Democrats won both chambers of Congress, DeFi tokens led the rebound, and ETF outflows slowed sharply but extended their streak. Also: the CFTC was sued the same day it approved stock perpetuals, Binance said 98% of affected assets are restored, a French bank was named in a $133 million theft, Block faces a $764 million DOJ settlement, Morgan Stanley tokenizes stocks and Treasuries through DTCC, and BitMart confirmed a small hack possibly linked to Mercado Bitcoin.

• Bitcoin's V-shaped recovery after Democrats win Congress — https://www.coindesk.com/markets/2026/11/04/bitcoin-rebounds-from-midterm-dip-as-defi-leads-gains

• ETF outflows slow sharply, but the streak continues — https://bitcoinalmanack.com/etfs/bitcoin-etf-flow-tracker/

• The CFTC approves stock perpetuals, and is sued the same day — https://www.coindesk.com/policy/2026/11/03/cftc-gets-into-legal-clash-over-stock-perps-after-having-cleared-path-for-crypto-version

• Binance says 98 percent restored as withdrawals reopen in phases — https://coincourier.io/binance-withdrawals-after-october-hack/

• A French bank and a 133 million dollar theft — DEVELOPING — https://Www.coindesk.com/business/2026/11/04/zachxbt-names-french-bank-credit-mutuel-arkea-as-suspected-victim-of-usd133-million-crypto-theft

• Block faces a 764 million dollar Justice Department settlement — https://www.coindesk.com/markets/2026/11/04/jack-dorsey-s-block-faces-usd764-million-doj-settlement-as-bitcoin-profit-plunges-50

• Morgan Stanley puts stocks and Treasuries on a blockchain through DTCC — https://www.coindesk.com/markets/2026/11/04/morgan-stanley-says-it-is-among-the-first-banks-to-put-u-s-stocks-and-treasuries-on-a-blockchain

• BitMart confirms a small hack, possibly linked to Mercado Bitcoin — DEVELOPING — https://crypto.news/bitmart-confirms-hack-suspects-same-group-behind-mercado-bitcoin-attack/

• And finally: Zcash's grants committee drops its own plan — https://www.coindesk.com/markets/2026/11/04/zcash-grants-committee-drops-plan-to-redirect-98-000-zec-to-future-mining-rewards

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Binance customers have pulled a net $4.72 billion since withdrawals reopened and the exchange has spent half its SAFU bitcoin, bitcoin steadies near $76,900 on U.S. election day, and spot bitcoin ETFs lose $399 million led by BlackRock's IBIT. Plus: North Korea denies the Binance hack, Brazil's Mercado Bitcoin halts withdrawals after a reported $40 million drain, Tether says it holds about 150,000 bitcoin, Strategy buys 811 bitcoin above the market price, Arbitrum's council moves $30 million of hack funds without the hacker's key, and a ten-year-old blockchain switches itself off on purpose.

• Binance Outflows Reach $4.72 Billion, and the Emergency Fund Is Half Spent — https://Www.coindesk.com/markets/2026/11/03/bitcoin-steadies-after-dip-to-usd76-300-as-etf-outflows-and-midterm-elections-weigh-on-crypto

• Bitcoin Steadies Near $76,900 on Election Day — https://Www.coindesk.com/markets/2026/11/03/bitcoin-steadies-after-dip-to-usd76-300-as-etf-outflows-and-midterm-elections-weigh-on-crypto

• Bitcoin ETFs Lose $399 Million, Led by BlackRock's IBIT — https://www.tftc.io/bitcoin-etf-flows

• North Korea Denies the Binance Hack, Calling the FBI's Claim a Provocation — https://www.coindesk.com/business/2026/11/03/north-korea-denies-role-in-usd6-4-billion-binance-hack-after-fbi-points-to-tradertraitor

• Brazil's Mercado Bitcoin Halts Withdrawals After a Reported $40 Million Drain (DEVELOPING) — https://unchainedcrypto.com/mercado-bitcoin-halts-withdrawals-over-security-incident-as-hypernative-flags-40-million-drain/

• Tether Says It Holds About 150,000 Bitcoin, Worth $11.5 Billion — https://www.coindesk.com/business/2026/11/03/tether-holds-150-000-bitcoin-worth-usd11-5-billion-ceo-paolo-ardoino-says

• Strategy Buys 811 Bitcoin Above the Market Price — https://unchainedcrypto.com/strategy-adds-811-btc-with-mstr-sales-as-strc-buybacks-top-400-million-in-two-weeks/

• Arbitrum's Council Moved $30 Million of Hack Funds Without the Hacker's Key — https://www.coindesk.com/tech/2026/11/03/arbitrum-s-council-moved-usd30-million-of-binance-hack-funds-without-the-hacker-s-key

• And Finally: A Ten-Year-Old Blockchain Switches Itself Off, on Purpose — https://lisk.com/blog/posts/lisk-chain-has-closed/

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Binance customers pulled a net $3.64 billion after withdrawals reopened, bitcoin held near $78,000, and U.S. bitcoin ETFs lost $643 million in a day. Plus: THORChain's halt slows the hackers, BTCPay tells merchants to switch off, the midterms arrive with the CLARITY Act stalled, China names crypto in an anti-corruption push, and copper goes on-chain by the kilogram.

• Binance Customers Pull $3.64 Billion After Withdrawals Reopen — https://www.coindesk.com/markets/2026/11/02/bitcoin-eases-to-usd77-900-as-binance-customers-pull-usd3-6-billion-after-withdrawals-reopen

• Bitcoin Holds Near $78,000 as the Market Steadies — https://www.coindesk.com/markets/2026/11/02/bitcoin-claws-back-toward-usd79-000-as-markets-shake-off-crypto-s-biggest-hack

• U.S. Bitcoin ETFs Lose $643 Million in One Day — https://www.coindesk.com/markets/2026/11/02/bitcoin-etfs-lost-usd643-million-in-outflows-friday-and-2026-is-barely-green-now

• THORChain Halts Swaps, and the Halt Slows the Hackers — https://cointelegraph.com/news/thorchain-halts-swaps-after-block-reorg-bug-slowing-binance-hackers

• BTCPay Tells Merchants to Switch Off Their Servers — https://www.coindesk.com/tech/2026/11/02/btcpay-a-bitcoin-payment-tool-tells-users-to-switch-off-their-servers-after-reports-of-drained-wallets

• The U.S. Midterms Arrive With Crypto's Rulebook Still Unwritten — https://rebatly.io/guides/us-midterms-crypto-regulation/

• China Names Crypto in a New Anti-Corruption Crackdown — https://www.coindesk.com/markets/2026/11/02/china-s-communist-party-calls-for-a-crackdown-on-corruption-that-uses-crypto-and-blockchain

• And Finally: Copper, on a Blockchain, by the Kilogram — https://www.coindesk.com/markets/2026/11/02/metals-io-issues-tokens-backed-by-25-tonnes-of-physical-copper-stored-in-germany

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Binance reopens withdrawals in phases after the $6.3 billion hack, with 95% of stolen assets replaced and the FBI confirming North Korea's TraderTraitor group was behind the theft. Bitcoin recovers above $78,000 and ether holds near $2,271, even as US spot ETFs post $798.9 million in combined outflows, ether staking hits a record against five days of fund selling, ICE moves to bring Hyperliquid perpetuals onshore in the US, Coinbase posts a $719 million quarter built on coin gains rather than trading, and Switzerland approves its first true spot bitcoin ETF.

• Binance reopens withdrawals in phases after the $6.3 billion hack — https://www.coindesk.com/markets/2026/11/01/binance-opens-crypto-withdrawals-in-phases-starting-with-bitcoin-following-usd6-3-billion-hack

• FBI confirms North Korea's TraderTraitor group behind the Binance hack — https://www.coindesk.com/policy/2026/10/31/fbi-confirms-north-korea-s-role-in-usd6-billion-binance-hack-asks-defi-community-to-block-btc-eth-sol-addresses

• Bitcoin tops $78,000 as spot prices recover over the weekend — https://www.bitcoininsider.org/article/bitcoin-rebounds-etf-outflow-reversal

• ETF flows: $643.2 million leaves bitcoin funds in one session, erasing the week — https://www.bitcoininsider.org/article/bitcoin-rebounds-etf-outflow-reversal

• Ether's split picture: record staking against five days of ETF selling — https://crypto.news/why-is-ethereum-price-up-today/

• ICE to bring Hyperliquid perpetual futures onshore in the US — https://unchainedcrypto.com/who-profits-when-hyperliquid-hits-the-us/

• Coinbase posts $719 million Q3 profit as prediction markets and USDC grow — https://www.newsbtc.com/news/coinbase-reports-719m-q3-profit-as-prediction-markets-and-usdc-grow/

• Switzerland approves its first spot bitcoin ETF for SIX — https://www.coindesk.com/business/2026/10/29/switzerland-s-first-bitcoin-etf-gets-rare-exemption-will-open-to-overseas-brokers

• And finally: Lighter (LIT) leads a quiet Sunday's altcoin movers — https://crypto.news/crypto-prices-today-bitcoin-78k-lit-altcoin-gainers/

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Binance is buying back the crypto stolen in the $6.3 billion breach token for token, with more than $6.34 billion set aside and withdrawals still paused ahead of a phased restart and Monday's proof-of-reserves report. Bitcoin held above $76,000 as liquidations slowed to $427 million, U.S. spot bitcoin ETFs posted $643 million in outflows, Washington opened its own look at a possible North Korea link, rival exchanges bolstered their defenses, Aave reopened its markets with nine assets barred from backing new loans, and Strategy's record quarter went to defending its credit rather than stacking bitcoin.

Stories: Binance's token-for-token buyback and withdrawal restart clock; bitcoin and the market at Friday's close and a $300 billion red October; $427 million in liquidations; $643 million in bitcoin ETF outflows and a fifth straight red day for ether funds; Trump and the U.S. investigation into the North Korea attribution; Coinbase, Kraken and OKX on industry defenses; Aave reopens with nine assets at zero collateral value; Strategy's Q3 and STRC buybacks; and finally, TON's unexplained 34% fall.

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Binance confirms about $6.3 billion taken in the largest crypto theft on record — how it happened, the $3 billion frozen so far, and why the stolen wallets were the exchange's own proof of reserves. Plus the market fallout, the November 1 reserves test, and the withdrawal restart clock.

Today: the Binance investigation widens • the reserves question • $1.53B in liquidations • the freeze and the North Korea attribution • Polymarket's $2.6M breach and CoinDCX • ETF flows split • today's $10.48B options expiry • Coinbase's $719M quarter • and HYPE, the token that refused to fall.

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A developing story leads today: billions of dollars moved out of Binance hot wallets in a single afternoon — its founder says it looks like a hack, the exchange says only that it is investigating, and Tether and Circle froze stablecoins tied to the outflow as nearly a billion dollars of leveraged positions were liquidated in a day. Plus the Fed's hawkish hold, three days of Bitcoin ETF inflows against three days of ether outflows, Friday's 10.86 billion dollar options expiry, the New York Stock Exchange owner's plan to bring Hyperliquid perpetual futures to the U.S., and the AI-found bug that could crash Bitcoin nodes.

Stories: the Binance outflow (developing) · the market and liquidations · the Fed hold · ETF flows and the Galaxy rotation · Friday's options expiry · ICE and Hyperliquid · Polymarket, Robinhood and Google custody · Bitcoin Core's AI-found bugs · Bermuda's onchain plan.

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