Bitcoin and Ethereum rebounded over the last 24 hours, with Bitcoin up 3.41% at $80,638 and Ethereum up 5.93% at $2,428.71. The rebound came as the market absorbed the largest crypto theft on record.
Binance Hack Hits $6.3 Billion
On 29 October, Binance lost about $6.3 billion in a security breach, according to Zerocap. Binance said a months-long fake-recruiter campaign tricked an engineer into installing malware. The exchange says it has replenished about 98% of affected assets and re-enabled withdrawals in phases.
Elliptic puts the stolen total at $6.43 billion, with $2.85 billion frozen. Its report describes North Korea laundering the funds through about 12,000 wallets across 11 chains.
The breach hit a market already testing its ETF demand. US spot bitcoin ETFs lost about $1.16 billion between 30 October and 3 November, the largest multi-day outflow since late June. Flows turned positive on 4 November, with $236.7 million of inflows led by Fidelity's FBTC. US spot Ethereum ETFs added $53.04 million in net inflows.
Major Price Moves
Market Overview
Bitcoin has a market capitalization of $1.62 trillion and $42.997 billion in 24-hour volume. Ethereum has a market capitalization of $296.77 billion and $30.764 billion in 24-hour volume. Short sellers drove much of the move. Crypto liquidations totaled $974.80 million over 24 hours, and about $378 million in short positions were liquidated within one hour as Bitcoin cleared $80,000.
Biggest Movers
Extended (XTEN) posted the largest 24-hour gain in the rank query, at 319.55% on $74.36 million in volume. No source confirmed a catalyst for that move. Janction (JCT) rose 63.88% on $53.47 million in volume, and Elsa (ELSA) gained 49.19% on $89.74 million. Gate News reported no confirmed catalyst for Elsa, and the search for Janction's trigger also came up empty.
Official Trump (TRUMP) was the largest large-cap loser, down 15.27% to $1.29 on $431.32 million in volume. Cointelegraph linked the decline to the Democratic sweep of the midterm elections. No verified token unlock or whale sale was found for the move.
Other Key Events
CFTC Clears Single-Stock Perpetuals
On 3 November, the CFTC cleared single-stock perpetual futures for US trading for the first time. Citadel Securities and Cboe sued the same day in New York federal court. The plaintiffs argue the contracts are security-based swaps under SEC jurisdiction.
Democrats Win Both Chambers of Congress
Democrats won control of both chambers in the midterm elections. The CLARITY Act failed the Senate 49-50 on 15 September and expires on 3 January unless lawmakers act. House Democrats are discussing a broader market structure bill that would give the SEC a larger role. That is a discussion, not a filed bill.
In Brief
- SEC staff classified Canton Coin (CC) as a "digital commodity" in a no-action letter issued on 3 November.
- ZachXBT identified Crédit Mutuel Arkéa as the alleged victim of a theft exceeding $133 million. The bank has not confirmed a crypto loss.
- CoreVault lost 160.26 BNB, about $112,200 per CertiK, in a flash-loan oracle attack on BNB Smart Chain.
- The Sui Foundation attributed three outages totaling over 15 hours to gas charging logic and validator bugs.
What to Watch
- Bitcoin at $80,000: A break below that level would cool the rebound.
- Ethereum at $2,400: Follow-through above that zone keeps staked ETH products bid.
- Janction unlock on 10 November: About 1.18 billion JCT, roughly 10% of circulating supply, unlocks that day.
- Rain (RAIN) unlock on 12 November: About 36.26 million RAIN tokens unlock, according to RootData.
- CLARITY Act deadline on 3 January 2027: The bill expires unless lawmakers act before then.