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Bitcoin made modest gains at the start of Wall Street trading on Tuesday as markets awaited cues from the US midterm elections. Bitcoin (BTC) headed higher at Tuesday’s Wall Street open as a tech-stock rebound under the shadow of uncertainty surrounding the US midterm elections. Key points:
Crypto groups spent about $176 million ahead of the US midterms, with control of Congress and the future of crypto legislation at stake. US voters head to the polls in midterm elections on Tuesday that could shift control of Congress and shape the future of cryptocurrency regulation. Crypto industry groups have spent roughly $176 million across more than 100 races this election cycle, according to an Oct. 27 Reuters report. Coinbase, Ripple and Andreessen Horowitz are among the main financiers of the Fairshake political network.
Moscow Exchange plans to launch crypto trading on Dec. 1 under Russia’s new law, with annual purchase limits for non-qualified investors. Moscow Exchange plans to launch trading in Bitcoin, Ether and Tether’s USDT on Dec. 1, opening what it describes as Russia’s first organized digital currency market. The exchange said Monday that pilot trades would begin as participants join the platform. Trades will use its existing stock-market infrastructure and be cleared through the National Clearing Center (NCC), with trading hours from 6:50 am to 11:50 pm Moscow time. The venue will initially support same-day and next-day settlement, as well as swap transactions. Non-qualified investors must pass a test before purchasing crypto and will be limited to purchases of 300,000 rubles (about $3,700) ann…
The proposed issuance cut would prevent 11.8 million NEAR from entering circulation over two years, worth about $45 million at today’s price. Near Protocol’s NEAR token fell by roughly 7% on Tuesday, despite community approval of a proposal to gradually reduce the maximum annual issuance rate from 2.5% to 1.6% over 24 months. NEAR traded at $3.82 as of 11:06 am UTC, extending its weekly decline to roughly 13%, according to CoinMarketCap. The latest drop followed Monday’s approval of HSP-029, which received support from 99.9% of participating voting power. About 3.28 million vote-escrowed NEAR (veNEAR) tokens were cast in favor, according to the NEAR House of Stake governance platform.
Binance led exchanges in 24-hour net inflows, reversing Monday’s heavy outflows as it restored access to funds after its $6.3 billion hack. Binance recorded $2.3 billion in net inflows over the past 24 hours as it expanded withdrawals following last week’s $6.3 billion hack. The exchange led centralized exchanges tracked by DefiLlama in 24-hour net inflows. Bitfinex recorded about $280 million and Bitget about $127 million over the same period. “By 03:00 UTC, we are seeing hourly deposits exceed withdrawals, reflecting improving user activity and stabilizing flows,” Binance said Tuesday on X.
The National Assembly postponed the vote on the budget’s revenue section for the second time, while the Nov. 17 deadline for the first reading examination nears. The French National Assembly will continue debating the revenue section of the 2027 state budget on Tuesday instead of holding a planned vote. According to the Assembly’s end-of-session notice following Monday’s sitting, Tuesday’s agenda includes questions to the government and continued debate on the budget’s revenue section with 758 amendments still pending examination. This marks the vote’s second delay, after the original Oct. 20 vote was postponed with more than 2,000 amendments awaiting debate, according to French newspaper Le Monde.
Bitcoin fell below the realized price of the one-to-three-month-old buyer cohort in a move that risked flipping it to new resistance. Bitcoin (BTC) risks turning $77,700 into new resistance as recent buyers fall into an aggregate loss, analysis warns. Key points: Data from onchain analytics platform CryptoQuant shows that BTC/USD is now trading below the realized price, or cost basis, of investors who entered the market between one and three months ago.
ARK Invest added Coinbase and Circle shares across two trading sessions while selling about $8 million in Bullish as crypto stocks declined. Cathie Wood’s ARK Invest is buying Coinbase and Circle shares as crypto stocks fall, while cutting its stake in crypto exchange operator Bullish. ARK purchased crypto exchange Coinbase (COIN) shares worth an estimated $9 million and stablecoin issuer Circle (CRCL) shares worth $8 million on Friday and Monday, according to its daily trade disclosures and closing prices from Yahoo Finance. The purchases totaled 64,208 Coinbase shares and 110,551 Circle shares across three of ARK’s exchange-traded funds (ETFs), which also sold 342,545 shares of Bullish (BLSH) worth approximately $8 million.
ZachXBT identified another $27 million in exchange withdrawals, some of which occurred after he first flagged the suspected crypto theft. Update (Nov. 3, 2026, 11:00 am UTC): This article has been updated to include comments from Crypto.com. Blockchain investigator ZachXBT has raised his estimate of a suspected crypto theft from an unidentified European Union entity to more than $133 million. On Tuesday, ZachXBT said he identified another $27 million in withdrawals from centralized exchanges, increasing the suspected losses from the $106 million he initially reported on Monday. He said some withdrawals occurred after his primary disclosure.
BlackRock’s Bitcoin ETF shed $405.3 million on Monday as US spot Bitcoin funds opened November with nearly $399 million in net outflows. BlackRock’s iShares Bitcoin Trust (IBIT) recorded its largest daily outflow since June on Monday as US-listed spot Bitcoin exchange-traded funds (ETFs) kicked off November with further withdrawals. The funds recorded $398.6 million in net outflows, led by $405.3 million from IBIT, according to Farside Investors data. IBIT’s outflow was its largest since June 26, when investors pulled $444.5 million. Fidelity’s Wise Origin Bitcoin Fund (FBTC) attracted $6.7 million on Monday, partially offsetting the outflows.
Crypto.com will discontinue its consumer app services in Hong Kong in February next year. Crypto.com will discontinue its consumer app services in Hong Kong on Feb. 1, 2027, while continuing to pursue regulatory approval for its institutional exchange. On Monday, the company confirmed the shutdown to Bloomberg, saying affected customers had been notified and would receive instructions on closing their accounts and withdrawing funds. According to local news outlet HK01, Crypto.com cited regulatory changes in emails sent to its users in Hong Kong. The consumer app is operated by Foris DAX MT Limited, while a separate entity, Foris DAX HK Limited, is seeking a Hong Kong virtual asset trading platform license.
The Reserve Bank of Australia raised its benchmark rate to 4.85% on rising technology costs from AI investment and higher energy prices. Australia’s central bank raised its interest rate by 25 basis points to 4.85% on Tuesday, warning that inflation would stay elevated through much of 2027 as energy costs and AI-related investment added to price pressures. The Reserve Bank of Australia’s monetary policy board voted 6–3 for the increase, with three members preferring to hold rates at 4.60%. The bank pushed back its forecast for inflation to return to the top of its 2% to 3% target range until late 2027, around three quarters later than previously expected.
The warning comes as UK cyber officials also flag growing threats from state-backed hackers targeting government officials and politicians. AI-powered malware is highly likely to be used in a ransomware attack targeting UK critical national infrastructure by 2028, the country’s National Cyber Security Centre has warned. The assessment, published in the NCSC’s Annual Review 2026, says artificial intelligence will increase the scale and efficiency of ransomware operations, social engineering and vulnerability exploitation. “It is also highly likely that between now and 2028, AI-powered malware will have been used in a ransomware attack on UK CNI,” the report states.
The exchange says additional assets will become available for withdrawal from 04:00 UTC on Tuesday as security checks are completed, following an initial reopening on Sunday. Binance plans to begin a second phase of cryptocurrency withdrawals on Tuesday, as data shows withdrawal volumes have started to stabilize following last week’s $6.3 billion hack. Withdrawals for additional assets are scheduled to resume progressively from 04:00 UTC on Tuesday, according to Binance’s latest recovery notice. The rollout follows an initial reopening on Nov. 1. “Like phase one, reopening will roll out progressively across the assets as security and readiness checks are completed,” said Binance.
South Korean crypto exchanges are already required to hold at least 80% of customer crypto in cold wallets, but the regulator is urging more. South Korea’s Financial Services Commission has urged domestic crypto exchanges to increase the proportion of assets held in cold wallets after the $6.3 billion attack on Binance last week. In a statement Monday, the FSC said it held an emergency meeting with the Financial Supervisory Service, the Financial Security Institute, the Digital Asset eXchange Alliance (DAXA) and major crypto service providers to review the impact of the Binance hack on South Korea’s crypto market and review exchanges’ security measures. The FSC said it reviewed exchanges’ IT access controls, wallet withdrawal approval and signing procedures, and administrator privileges.…
Pyongyang has pushed back against the FBI’s attribution of the Binance attack, with Kim Yo Jong calling the US allegations politically motivated. Kim Yo Jong, the sister of North Korean leader Kim Jong Un, denied North Korea’s involvement in the $6.3 billion Binance hack and appeared to suggest, without evidence, that the US could have been behind the theft. In a statement released via the Korean Central News Agency (KCNA) on Tuesday, Kim rejected the FBI’s attribution of the attack to a North Korean-backed hacking group. “The FBI is trying to brand the DPRK as a ‘cyber criminal state’, claiming that it obtained information that a hacking organization ‘supported’ by the DPRK was involved in the incident,” said Kim. “But the US assertion is an absurd rhetoric and nothing new.”
New Jersey lifted its staking ban and dropped a $5 million penalty, clearing the way for Coinbase to restore staking access for users in the US state. New Jersey’s securities regulator has rescinded its 2023 cease-and-desist order against Coinbase’s staking service, lifting a ban that stopped residents staking new funds on the exchange for over three years. The Oct. 30 notice, signed by Acting Bureau Chief Keith A. Alt, withdrew the order and its $5 million penalty without prejudice and without a ruling on the merits. The wording leaves the Bureau of Securities free to bring a fresh enforcement action against Coinbase in the future. Coinbase disclosed the move in its third-quarter filing, stating the regulator informed the company on Oct. 29 of its plan to rescind. CEO Brian Armstrong sai…
The Swan Bitcoin founder warned that hackers are using large language models to exploit security flaws with just a few prompts. Artificial intelligence poses a more immediate threat to Bitcoin security than quantum computing, according to Swan Bitcoin founder Cory Klippsten, who warned that hackers are increasingly using AI to exploit vulnerabilities as crypto exchanges face a string of security breaches. Speaking on Cointelegraph’s Chain Reaction, Klippsten dismissed much of the concern surrounding quantum computing as speculative, arguing that advances in large language models present a more pressing challenge as attackers use the technology to probe security weaknesses. The warning comes as Brazil’s Mercado Bitcoin suspended deposits and withdrawals on Monday following a security incide…
A European entity may have lost $106 million from exchange accounts, while a wallet associated with a Solana arbitrage bot may have lost another $786,000. An unidentified entity in the European Union may have lost more than $106 million from accounts at multiple cryptocurrency exchanges on Sunday, according to blockchain investigator ZachXBT. In a Monday post, ZachXBT said funds suspected to have been stolen were withdrawn in USDC and USDT before being moved through several cryptocurrencies and blockchains. The suspected attacker swapped USDC for Ether (ETH), used instant exchange services including WellWallet and Kyrrex, and converted funds into Monero (XMR) through the swap service Wagyu.
Slowing trading activity and fallout from the Binance hack are clouding Coinbase’s revenue prospects, prompting Morgan Stanley to lower its rating on the stock. Investment bank Morgan Stanley turned bearish on Coinbase (COIN) on Monday, cutting its price target by more than half as it warned that the cryptocurrency exchange’s profits could recover more slowly than expected. Analyst Michael Cyprys lowered the stock’s price target from $258 to $120, a cut of about 53%, citing recent trading trends, a softer revenue outlook and uncertainty in the crypto market following Binance’s $6.3 billion hack, according to a Monday report. The bank still sees Coinbase as one of the strongest competitors in crypto but expects profits to recover more slowly than previously forecast, putting further pressur…
