Richard Teng put a number on his own exchange's hack this week1. Teng said Binance had replaced 95% of the $6.3 billion North Korea's hackers took. He reopened Bitcoin withdrawals the morning of Nov. 1. Through Nov. 1, three other firms exposed that number's limits. Chainalysis, the tracer other firms hire, disclosed a breach of its own. Strategy, the bitcoin treasury company, lost its finance chief days after insiders sold stock. A tiny Nasdaq firm cited the Binance hack as a reason to sell its own bitcoin. Ten stories from Oct. 30 to Nov. 1, 2026, follow.
Binance Reopens Withdrawals at 95%
Payouts to customers resumed on Nov. 11. That window opened at 06:00 UTC, covering Bitcoin, Ethereum and 13 more networks. Teng's math climbed fast: 80% replaced on Friday, 90% by Saturday, 95% by Sunday morning. “Binance will absorb the financial impact of these stolen funds, not our users,” Teng wrote, pledging to cover the unreplaced 5% from company funds. Tyler Moore, a security professor at the University of Tulsa, takes the other view2. “I think you should be very wary of leaving any significant amount of funds in an exchange,” Moore told CNBC. His caution predates this week's hack, and it still stands.
Binance's Recovery Climbed From 80% to 95% in Three Days, Nov. 1
Share of the $6.3 billion Binance says it has replaced, by the date each figure was given
- Nov. 1: 95%
- Oct. 31: 90%
- Oct. 30: 80%
Sources: crypto.news [1]; CNBC [2].
Read the chart as a table
| Item | Value | Note |
|---|---|---|
| Oct. 30 | 80% | |
| Oct. 31 | 90% | |
| Nov. 1 | 95% | Binance reopens Bitcoin withdrawals the same day |
The FBI Names a Suspect
Washington moved fast to name a suspect3. The FBI blamed North Korea for the theft, pointing to the hacking unit it calls TraderTraitor. TraderTraitor is the FBI's name for a North Korean group tied to crypto thefts since 2020. Agents told exchanges, wallet operators and tracers to block the addresses the group used. Binance's hack sits inside a bigger pattern: the same unit the FBI blamed for last year's $1.5 billion Bybit theft.
Chainalysis Admits Its Own Breach
A firm built to catch hackers got hacked itself4. Chainalysis said an attacker used "offensive agentic techniques" to reach its internal tools this month. Names, emails and user IDs for some customers leaked out. Case files and passwords stayed sealed, the firm said. The breach traces to a cause separate from Binance's theft. Four incidents hit four separate firms in one week. That pattern outlasts a single company's recovery number.
Strategy's Earnings Hide an Exit
Strategy posted a record quarter and lost its finance chief the week of Oct. 265. Andrew Kang told the company on Oct. 26 he would step down Nov. 5, for personal reasons. Phong Le, Strategy's chief executive, takes over as finance chief through year's end. Protos counted $29.7 million in Strategy stock sold by insiders this year, before Kang's exit. Kang's own share was worth $5.5 million6. Phong Le sold $12.5 million of his own stock over the same stretch. Director Jarrod Patten sold $11.4 million. Each of the three sales stayed inside the rules on its own. Together, they are the figure a reader checks before taking "personal reasons" at face value.
Strategy Insiders Sold $29.7 Million in Stock Before Kang's Oct. 26 Exit
MSTR stock sold in 2026 by three Strategy insiders, in millions of U.S. dollars
- Andrew Kang: $5.5M
- Other Strategy insiders who sold stock in 2026
Source: Protos [6].
Read the chart as a table
| Item | Value | Note |
|---|---|---|
| Andrew Kang | $5.5M | Kang resigned as CFO on Oct. 26, effective Nov. 5 |
| Phong Le | $12.5M | |
| Jarrod Patten | $11.4M |
A Tiny Nasdaq Firm Weighs a Bitcoin Sale
Next Technology Holding carries 5,833 bitcoin worth about $452 million7. Its own stock trades at a market value near $7.5 million. That gap is the whole story. The company's board approved selling or pledging the bitcoin in batches. It cited the Binance theft and quantum computing risk, even though its coins sit elsewhere. Quantum computers that can break Bitcoin's signatures remain years away. Builders are already making a fix called BIP-360. A reader can weigh a $7.5 million stock against $452 million in bitcoin. That gap teaches more than either reason the board gave.
Next Technology's Bitcoin Is Worth 60 Times Its Stock Value, Oct. 31, 2026
Next Technology Holding's bitcoin holdings versus its own stock market value, as of Oct. 31, 2026
- Bitcoin holdings: $452M
- Stock market value: $7.5M
Source: 24/7 Wall St. [7].
Read the chart as a table
| Item | Value |
|---|---|
| Bitcoin holdings | $452M |
| Stock market value | $7.5M |
A Derivative Prices Anthropic Before Anthropic Does
Traders priced Anthropic's initial public offering before Anthropic itself set a price8. trade.xyz runs on the Hyperliquid blockchain. It opened a contract called ANT on Anthropic's expected Class A shares. That listing landed days after Anthropic filed its own papers with regulators. Its price opened at $138 and fell near $110 within hours, a drop of about 20%. It settles in cash, carries 10x leverage, and grants its holder zero shares, votes or dividends. Petro Dmytriiev, a DeFi researcher who tracks these markets on X, calls it a big step. “Every other 24/7 tradfi market on Hyperliquid mirrors a price that already exists somewhere else BUT pre-IPO markets create one where none has ever traded, which is why I believe they are the most revolutionary product trade[XYZ] has shipped,” he wrote. Laurens Fraussen, an analyst at the data firm Kaiko, made the opposite case in June, when a similar SpaceX contract went live. "This pre-IPO perpetual isn't really anchored towards anything other than speculation," Fraussen told Reuters. Jamie Selway, the SEC's trading and markets director, expects more exchanges to follow soon. “I expect at least four to begin to trade perpetual futures on securities sometime this quarter,” Selway told a markets conference in October.
A DeFi Vault and a Dozen Sites Fall
Two smaller breaches rounded out the week in DeFi910. Troves, a lending protocol on Starknet, lost 8.6 bitcoin when an old contract kept permissions past an upgrade. Separately, Blockaid flagged a domain hijack across 12 DeFi sites built with the Step Drainer toolkit. The toolkit redirects visitors toward wallet-draining pages. Flap, one of the affected projects, confirmed the hijack on its own domain. Both breaches moved far less money than Binance's did. Each still traced to the same root cause: old code outliving its purpose.
Fairshake Clears Its Primaries
Crypto's biggest political spenders closed out the midterm season strong11. Three industry super PACs put roughly $170 million behind more than 100 races, most aimed at Republicans. Fairshake is the sector's main vehicle. It backed 53 of 58 candidates who won their primaries or special elections. All 53 appear on Tuesday's ballot. The industry built this war chest to outlast any single administration, win or lose.
Coinbase's Earnings Hide a Pivot to Predictions
Coinbase posted a mixed quarter, and the mix is the story12. In the quarter ended Sept. 30, revenue fell 35% from a year earlier, to $1.22 billion, as trading slowed. Net profit still climbed 66%, to $719 million, on gains elsewhere in the business. Brian Armstrong, Coinbase's chief executive, pointed past the trading numbers to a newer product. “Prediction markets have been one of the fastest-growing products in Coinbase history, growing even through slower sports months driven by crypto contracts where we have a strong right to win,” Armstrong said. As of the third quarter, those markets run at roughly $200 million a year in revenue, on an exchange built on trading coins.
Miners Sell Power Instead of Coins
Bitcoin miners signed more than $100 billion in AI power contracts this year13. The fine print tells a different story than the headline number. Core Scientific, one of the biggest, booked a $266.5 million writedown on mining gear this year, while building AI colocation space instead. Adam Sullivan, Core Scientific's chief executive, says buyers are paying more for that space as equipment and labor costs climb. Switching a site from mining to AI work now costs $8 million to $15 million per megawatt. Mining gear alone costs $700,000 to $1 million per megawatt. Miners are betting that gap closes before their bitcoin revenue does.
What to watch
Binance's delayed proof-of-reserves report will show whether its 95% claim matches its balance sheet. Chainalysis's customer notifications will say how many organizations the breach touched. Strategy's January filing will show whether Reza Virasteh changes how the company reports its bitcoin yield. Anthropic's own IPO price, once regulators clear it, will settle whether trade.xyz priced the company or just priced fear.
Sources
- Olivia Stephanie, "Binance reopens Bitcoin withdrawals after $6.3B hack, says 95% restored," crypto.news, Nov. 1, 2026, https://crypto.news/binance-reopens-bitcoin-withdrawals-after-hack/
- Davis Giangiulio, "Binance's $6.3 billion hack raises questions about crypto wallet safety," CNBC, Oct. 31, 2026, https://www.cnbc.com/2026/10/31/binance-hack-crypto-wallet-safety.html
- Michael Millard, "FBI blames North Korea for Binance hack," Cointelegraph, Nov. 1, 2026, https://cointelegraph.com/news/fbi-blames-north-korea-for-record-63b-binance-hack
- Zack Abrams, "Chainalysis says hacker using 'offensive agentic techniques' accessed its customers' names and emails," The Block, Oct. 31, 2026, https://www.theblock.co/news/business/2026-10-31-chainalysis-says-hacker-using-offensive-agentic-techniques-accessed-its-customers-names-and-emails-432244
- Strategy Inc, Form 8-K, SEC EDGAR, Oct. 26, 2026, https://www.sec.gov/Archives/edgar/data/0001050446/000105044626000047/mstr-20261026.htm
- Protos, "Strategy insiders sold millions, then the CFO resigned," Protos, Oct. 30, 2026, https://protos.com/strategy-insiders-sold-millions-then-the-cfo-resigned/
- Sam Daodu, "A Nasdaq Company Just Cleared the Sale of Its 5,833 Bitcoin, Citing Quantum Risk. Is That a Real Reason to Sell BTC?" 24/7 Wall St., Oct. 31, 2026, https://247wallst.com/investing/cryptocurrency/2026/10/31/a-nasdaq-company-just-cleared-the-sale-of-its-5833-bitcoin-citing-quantum-risk-is-that-a-real-reason-to-sell-btc/
- Oliver Knight, "Inside the risky crypto craze letting overseas traders bet millions on Anthropic's Wall Street debut," CoinDesk, Oct. 31, 2026, https://www.coindesk.com/business/2026/10/31/traders-are-already-placing-leveraged-bets-on-anthropic-s-ipo-using-crypto-contracts
- KuCoin News, "DeFi protocol Troves vault hacked, initial loss of 8.6 BTC," KuCoin News, Nov. 1, 2026, https://www.kucoin.com/news/flash/defi-protocol-troves-vault-hacked-initial-loss-of-8-6-btc
- Lawrence Mondal, "DeFi DNS attack hits 12 sites with Step Drainer toolkit," crypto.news, Oct. 31, 2026, https://crypto.news/defi-dns-attack-12-sites-step-drainer
- Jesse Hamilton, "Crypto PACs spent $170 million, with most going to Republicans in final weeks before midterm election," CoinDesk, Nov. 1, 2026, https://www.coindesk.com/policy/2026/11/01/crypto-pacs-made-big-republican-push-in-final-weeks-before-november-3-election
- "Coinbase (COIN) Q3 2026 Earnings Call Transcript," The Motley Fool, Oct. 30, 2026, https://www.fool.com/earnings/call-transcripts/2026/10/30/coinbase-coin-q3-2026-earnings-call-transcript/
- Andjela Radmilac, "AI wants Bitcoin miners' power, but the contracts reveal who really gets paid," CryptoSlate, Nov. 1, 2026, https://cryptoslate.com/ai-wants-bitcoin-miners-power-but-the-contracts-reveal-who-really-gets-paid