Cryptoccino — Wednesday 04 November 2026

Bitcoin ETFs bleed over $1 billion in two sessions. US-listed spot Bitcoin funds posted consecutive days of heavy outflows as the Binance hack rattled confidence and election uncertainty compounded the pressure. Both BTC and ETH ETF products saw net redemptions, dragging spot prices lower alongside futures liquidations. Tom Lee publicly argued the hack is structurally bullish for Ethereum, a view that has not yet shown up in ETH price action. bloomberg_crypto decrypt

Tether discloses a 50,000-bitcoin gap between CEO claims and reserve filings. Paolo Ardoino told the Plan B Forum in Lugano that Tether holds around 150,000 BTC, but the firm’s Q3 reserve attestation implies closer to 100,060. The company has not publicly reconciled the difference. At current prices the discrepancy is worth roughly $3.8 billion, a number that tends to get attention when sentiment is already in fear territory. decrypt coindesk

Liquid Network is fully backed again after September’s $320 million exploit. Blockstream stepped in with funds to restore the sidechain’s one-to-one bitcoin peg, two months after the breach. CEO Adam Back said defences have been hardened and issued a pointed warning against blindly trusting AI-generated code fixes. The resolution removes one live overhang for the federated sidechain ecosystem. theblock decrypt

Block Inc. raises its full-year profit forecast, shares up 6% after hours. The Jack Dorsey-led fintech lifted its full-year gross profit guidance to $12.63 billion, implying 22% year-on-year growth. The afterhours move offers a small counterweight to the broader risk-off session. Block’s crypto-adjacent revenue lines, particularly Cash App’s bitcoin activity, will be worth watching in the full earnings transcript. theblock

Moscow Exchange will list Bitcoin and USDT in December despite active US sanctions. The US-sanctioned Moscow Exchange announced it will offer BTC and Tether’s USDT for trading starting in December, a move that tests the enforceability of secondary sanctions in digital asset markets. Tether’s willingness to have its stablecoin listed on a sanctioned venue will draw scrutiny from both regulators and institutional counterparties. The timing, days after a Democratic Senate sweep, is not ideal for the industry’s compliance optics. coindesk

NEAR cuts its maximum annual token issuance from 2.5% to 1.6% over 24 months. The House of Stake passed HSP-029, a governance proposal reducing NEAR’s issuance ceiling in a phased drawdown across two years. The move is framed as a supply discipline measure aimed at reducing sell pressure from staking rewards. It follows a broader trend of L1 networks trimming emissions as token prices face headwinds. theblock

Aztec rolls out Tierra V6, fixing a critical prior-version bug and doubling proof speed. The Ethereum privacy L2 upgraded to Tierra V6, which the Aztec Foundation says resolves a security flaw from the previous release, adds formal verification, and cuts private transaction proof generation time in half. An AI-powered testing harness is included, though the Liquid Network’s Adam Back separately warned this week against over-relying on AI for security-critical code. The upgrade keeps Aztec competitive as privacy-preserving L2s move from research phase toward live application deployment. theblock decrypt

Justin Sun moves to sanction World Liberty Financial, alleging concealed UAE citizenship. Sun filed for sanctions against the Trump-linked project in federal court, claiming World Liberty Financial hid its UAE ties to defeat federal jurisdiction in his $45 million lawsuit. He now plans to refile in California state court. The allegation adds another layer of legal exposure to a project already navigating a changed political environment after the Democratic sweep. theblock decrypt coindesk

Binance’s $6.3 billion breach traced to a fake job interview and an internal AI tool. Binance’s incident report confirms the DPRK-linked TraderTraitor group spent months building rapport with an employee through a fabricated recruitment process before using access to an internal AI tool to pivot deeper into exchange systems. Net outflows hit $5.3 billion post-hack before the CEO said hourly deposits had begun exceeding withdrawals again. Chainalysis separately documented how the fake-interview playbook was rehearsed across dozens of smaller targets before Binance. theblock coindesk chainalysis decrypt

Crédit Mutuel Arkéa hit for an estimated $133 million, ZachXBT says Lazarus Group not involved. On-chain investigator ZachXBT flagged a large exploit against the French regional bank, with high confidence the attacker has no connection to North Korea’s Lazarus Group. The incident adds to a dense week for traditional finance targets. No official statement from the bank at time of writing. theblock cryptobriefing

GitBook hit by an AI-assisted credential breach, urges immediate key rotation. Attackers accessed infrastructure credentials through an AI agent-assisted intrusion at GitBook, which hosts documentation for a large number of crypto projects. The platform shut down affected systems and is pushing emergency token resets to users. Teams relying on GitBook for sensitive internal docs should treat exposed keys as compromised. decrypt

CoreVault drained of 160 BNB via flash-loan oracle manipulation; Mercado Bitcoin pledges refunds after $40 million hack. A flash-loan attack inflated CoreVault redemption prices 33x by manipulating its oracle, netting the attacker 160.26 BNB. Separately, Brazil’s Mercado Bitcoin said it will make customers whole after a $40 million breach, though withdrawals remain frozen with no restart date confirmed. SEAL’s weekly triage logged 99 incidents across the seven days ending 3 November. cryptobriefing decrypt seal_radar

CFTC approves equity perpetual futures, then immediately enters legal dispute over the product. Chairman Michael Selig cleared CFTC-registered exchanges to list perpetual futures tied to individual stocks, extending the crypto-native instrument to traditional equities for the first time in the US. Hours later the CFTC found itself in a legal clash over the same product category, with questions about jurisdictional boundaries surfacing quickly. The simultaneity is awkward and suggests the regulatory perimeter around stock perps is far from settled. theblock coindesk decrypt cointelegraph_regulation

Amazon, Tesla, SpaceX and 53 other issuers formally object to OKX-ICE tokenised stock venue. The objector list for the planned OKX-ICE tokenised stock platform has grown to 56 companies, with high-profile names including Amazon, Tesla, SpaceX, Netflix and SoFi filing formal opposition as a deadline approached. The objections centre on use of their shares without authorisation, and the depth of the list significantly complicates the venue’s near-term launch. The situation sits in uncomfortable tension with the CFTC’s simultaneous enthusiasm for crypto-native instruments applied to equities. decrypt coindesk cointelegraph_regulation

SEC issues no-action relief for Canton Coin, calling it a digital commodity. The Division of Corporation Finance said it will not recommend enforcement over Canton Coin’s programmatic issuance, formally classifying it as a digital commodity rather than a security. It is one of the more concrete post-Howey boundary-setting moves the division has made via no-action letters. Institutional networks built on Canton Network will watch the classification closely as a template. theblock

Democrats winning the Senate puts crypto’s legislative pipeline in reset mode. Senate control shifting to Democrats hands committee gavels to members broadly sceptical of the industry’s self-regulatory ambitions and raises the probability of hostile oversight hearings into Trump-adjacent crypto projects. The CLARITY Act in its current form is unlikely to advance without significant revision. See the lead for full market context. cointelegraph_regulation theblock

What else is grinding?

• Coinbase resumed crypto staking services in New Jersey after the state dropped its lawsuit, a quiet state-level win on a day dominated by federal-level uncertainty. cryptobriefing
• South Korea’s ruling party formally proposed pushing the country’s crypto income tax to 2029, citing the need to pass the Digital Asset Basic Act first. theblock cryptobriefing
• France scrapped its proposed crypto exit tax after the National Assembly postponed the 2027 budget revenue vote for the second time, with a 17 November deadline now looming. cointelegraph_regulation
• Consensys launched a cross-ledger settlement and routing stack letting banks move value across independent ledgers without shifting the underlying assets. theblock
• BitMart reported a minor hack while still in the middle of its wind-down and restructuring process, an uncomfortable reminder that distressed exchanges carry elevated operational risk. cryptobriefing
• Ark Invest picked up roughly $965,000 in Circle shares while trimming its Bullish position, a small but pointed signal about where Cathie Wood sees stablecoin value accruing. cryptobriefing

Last sip. Binance says hourly deposits are outpacing withdrawals again, but nobody has yet explained why 50,000 of Tether’s bitcoins are missing from the reserve report.