24H Trending Coins & News | Justin Sun Seeks Sanctions Against WLFI; U.S. CFTC Approves Single-Stock Perpetual Futures Contracts (November 4)
- Key Takeaways: Binance disclosed a preliminary report on the approximately $6.34 billion hack incident, with 98% of affected assets replenished and $2.85 billion frozen; during the same period, the CFTC approved single-stock perpetual futures contracts, while total stablecoin market capitalization shrank by approximately $17 billion over six months.
- Key Elements:
- The Binance attack involved supply chain, social engineering, and abuse of EIP-7702 authorization; the wallet system has been rebuilt and AI anomaly detection strengthened.
- The U.S. CFTC approved single-stock perpetual futures contracts, allowing trading on regulated U.S. exchanges for the first time.
- Total stablecoin market capitalization fell to approximately $263 billion, a decrease of about $17 billion over six months, with Binance accounting for approximately 70% of CEX stablecoin supply.
- Binance's 24-hour capital flows turned to a net inflow of approximately $1.6 billion, after net outflows had previously reached $7 billion.
- BTC is currently trading at approximately $76,990, 5.2% above its 200-day moving average, breaking the bearish pattern seen before the past three midterm elections.
- Hong Kong's SFC plans to pilot tokenized gold ETFs; existing 17 tokenized retail products have reached $1.3 billion in scale.
- South Korean financial authorities are discussing raising the cold wallet custody requirement for exchanges from 80% to 99%.
Trending Coins on CEXs
Top 10 CEXs by Trading Volume and 24-Hour Price Changes:
- BTC: +0.74%
- ETH: +1.13%
- SOL: +0.53%
- ZEC: +5.84%
- XRP: +1.91%
- NEAR: -1.26%
- BNB: -0.30%
- HYPE: +0.52%
- UNI: +1.02%
- PEPE: +1.51%
Top 24-Hour Gainers (Data Source: OKX):
- ZRO: +7.82%
- PUMP: +7.48%
- LIT: +7.34%
- IRYS: +7.04%
- ZEC: +5.36%
- NIGHT: +4.00%
- STRK: +2.70%
- XRP: +1.77%
- SUI: +1.67%
- ENA: +1.02%
Top 24-Hour Tokenized Stock Gainers (Data Source: msx.com):
- AEHG: +57.66%
- CIFU: +34.51%
- AEHR: +27.84%
- SMCX: +24.64%
- BEX: +24.09%
- IREX: +22.67%
- CCXI: +21.21%
- APLX: +20.66%
- RIOT: +18.24%
- CRDU: +18.11%
Headlines
Binance has released a preliminary report on the security incident, disclosing that the attack involved approximately $6.34 billion in digital assets. As of November 3, Binance has prepared over 100% of the compensation funds for affected assets and has replenished 98% of the affected tokens, with the remaining less-liquid assets still being procured. Currently, approximately $2.85 billion in assets have been frozen or intercepted; the relevant amounts still require further verification and are subject to market price fluctuations. The report disclosed that the attackers exploited unauthorized access to an internal wallet signing service to initiate transactions outside the normal withdrawal process, and used Ethereum's EIP-7702 authorization mechanism to obtain partial execution permissions on hot wallets. During the attack, the attackers transferred out 233.46 million XRP, approximately 970,500 SOL, 44.2 million OP, and 18,270 BTC from Binance hot wallets, among other assets. The final unauthorized transfer of 2,961.9 ETH was confirmed on-chain at 23:56 UTC on October 29. Binance stated that the attack involved multiple vectors including supply chain attacks, social engineering, malware, exploitation of internal AI tools, and abuse of transaction authorization mechanisms. The attackers had previously lured employees into downloading malicious code through fake recruitment interviews, and further gained access to wallet infrastructure through infected devices and internal AI tools. Currently, Binance has rebuilt the affected wallet systems and internal AI tools, replaced relevant devices, revoked credentials and access tokens of affected employees, and strengthened risk controls for wallet services and AI behavioral anomaly detection. Binance will also engage an independent cybersecurity firm to review the incident and plans to establish a security research fund to promote AI and blockchain security research. The report also noted that the investigation is still ongoing and some technical details will not be disclosed for the time being.
US CFTC Approves Single-Stock Perpetual Futures Contracts for Trading on Regulated US Exchanges
The U.S. Commodity Futures Trading Commission (CFTC) has approved perpetual futures contracts linked to individual U.S. stocks, allowing such products to be listed and traded on regulated U.S. exchanges for the first time. This means U.S. investors will be able to trade single-stock perpetual contracts through regulated markets, further expanding the intersection between traditional equities and crypto derivatives markets.
After Investing $45 Million in WLFI Tokens, Justin Sun Seeks Sanctions Against WLFI
Justin Sun posted that his lawyers have filed a motion in U.S. federal court seeking sanctions against World Liberty Financial (WLFI) and its lawyers, alleging that WLFI disclosed its UAE citizenship only months after litigation was underway. WLFI initially declared its sole owner as itself, with citizenship in Florida. In August, the court ruled that some claims would remain in open court; less than a week later, WLFI amended the ownership chain to 22 members, including locations such as the UAE, and on that basis argued that the federal court lacked jurisdiction. Sun claims he invested a cumulative $45 million to purchase WLFI tokens and sued WLFI for fraud in April, freezing his tokens; after the ruling on the sanctions motion, he will refile in California state court.
Industry News
Total Stablecoin Market Cap Falls to Lowest in Over a Year, Shrinking ~$17 Billion in 6 Months
CryptoQuant analyst Darkfost posted that the total market capitalization of the stablecoin market has dropped to its lowest level in over a year, falling from approximately $280 billion to $263 billion since April of this year, a decrease of about $17 billion over six months, or roughly 6%. Binance currently accounts for approximately 70% of stablecoin supply on centralized trading platforms, and its stablecoin market cap 90-day moving average has dropped from $51 billion to $34 billion; following the platform's hack, approximately $3 billion in stablecoins flowed out. Darkfost stated that the declining stablecoin market cap is related to insufficient market demand and a lack of new capital and liquidity inflows.
Bitcoin was below its 200-day moving average on the days of the 2014, 2018, and 2022 U.S. midterm elections, respectively about 35%, 9%, and 22% lower. This year is different. Bitcoin is currently trading at approximately $76,990, about 5.2% above its 200-day moving average of approximately $73,169, indicating a relatively strong long-term trend. The 2026 Bitcoin bear market has been shallower and front-loaded, with the main correction concentrated in January and February of this year. Martin Lee, Head of Research at DWF Labs, stated that historical data shows Bitcoin typically trades sideways or slightly bearish in the first few months after midterm elections, but has risen over the subsequent 12 months in all cases.
At the 2026 Global Financial Leaders' Investment Summit held in Hong Kong, executives from PIMCO, Bain Capital, Blackstone, and Franklin Templeton expressed varying degrees of concern about the AI investment boom. PIMCO CEO Emmanuel Roman stated that the market will eventually face a downturn, which could trigger a series of problems, with triggers including rising U.S. interest rates, Middle East wars, and a eurozone crisis. Bain Capital Chairman John Connaughton also noted that some AI asset valuations are already very high, and the key question is whether investors can achieve returns commensurate with those valuations. Franklin Templeton CEO Jenny Johnson warned that hyperscale cloud service providers are transforming from businesses with low capital requirements into capital-intensive enterprises, and the AI investment cycle may have overextended. Meanwhile, Wall Street bank executives remain relatively optimistic about the AI market outlook. Morgan Stanley CEO Ted Pick stated that AI capital expenditure could reach $10 trillion to $15 trillion, making it one of the most important economic transformations since the birth of the internet, but it could also crowd out corporate funding needs in non-AI areas. Goldman Sachs CEO David Solomon stated that although the technology super-cycle will not develop without bumps, capital markets remain active and the market will provide strong financing to meet AI and computing power demand. (Bloomberg)
Binance 24-Hour Fund Flows Turn to Net Inflow of ~$1.6 Billion, Marked Improvement from Prior
On November 3, according to DeFiLlama data, Binance's fund flows over the past 24 hours have shifted from net outflows to net inflows of approximately $1.6 billion, showing a marked short-term improvement in capital flows. Previously, Binance's 24-hour net outflow had reached an intraday high of approximately $7 billion; fund flows have now reversed, with a cumulative change exceeding $8.6 billion. During the same period, Binance's total platform assets were approximately $127.699 billion. Data shows that Binance's short-term fund flow conditions continue to improve, with positive changes in market capital flows.
Project News
Bullish Selects Solana, Aptos, and Ethereum as Initial Networks for Stock Tokenization
Bullish announced that it has selected Solana, Aptos, and Ethereum as initial network partners for its stock tokenization service. Issuers can independently choose the network on which to issue their tokenized stocks, while official equity registration records remain with the transfer agent. Solana will be the first supported network, with Aptos and Ethereum to follow; specific timing has not been announced. Previously, Bullish and Equiniti demonstrated on October 27 at the NYSE the transfer of 61 million tokenized Bullish reserved shares on Solana, which are intended for delivery in Bullish's acquisition of Equiniti; the transaction is expected to close in January 2027, subject to regulatory approval.
Coinbase Launches Coinbase for Agents, Enabling Agents to Trade and Pay on Behalf of Users
Brian Armstrong posted on X that he wakes up most days thinking about agentic finance, and believes that although the sector is still in its early stages, its growth trajectory points toward where the world is heading. Coinbase for Agents is designed to address this need, allowing users to connect agents to their accounts so that agents can trade and make payments on their behalf, with limits and controls in place.
Open Standard, the governance organization behind the OpenUSD (OUSD) stablecoin, has established a management fee and equity incentive mechanism. According to its internal documents, OUSD will charge a management fee of 0.1 basis points (0.001%) on payment transaction volume, capped at $0.01 per payment. Specifically, payments of $1,000 or more are subject to the $0.01 cap, while payments below $1,000 are charged at 0.1 basis points of the transaction amount. The management fee will be paid to Open Standard. Unlike USDT and USDC, where issuers retain interest on reserve assets, OUSD plans to distribute reserve yield to partners, with distribution occurring after deducting the aforementioned management fee. Additionally, Open Standard will provide equity incentives based on the scale of OUSD held and circulated by partners. Partners will receive a corresponding share of the annual equity incentive pool each month based on holdings and transaction flow, with a participation threshold of holding or meeting a scale requirement of at least $50 million, and a maximum equity stake of 5% for any single partner.
Aave Pro Opens Collateral Swapping for Aave V4, Covering Ethereum, Base, and Avalanche Markets
Aave posted on X that collateral swapping is now available on Aave Pro for Aave V4's Ethereum, Base, and Avalanche markets. Users can swap collateral assets for other assets without closing their positions, with the feature powered by @CoWSwap.
Funding & Investment
Bloquo Completes $3.7 Million Seed Round Led by Crescera Capital and Triaxis Capital
Bloquo announced the completion of a $3.7 million seed round led by Crescera Capital and Triaxis Capital, with participation from Lattice Fund. The project is a Brazilian fintech company focused on building stablecoin-based financial infrastructure for banks and enterprises. The platform integrates cross-border payments, forex trading, and liquidity provision, supports stablecoins such as USDC and USDT, and is accessible via API or dashboard. Bloquo has registered as a money services business with the U.S. Financial Crimes Enforcement Network (FinCEN) and has applied to the Central Bank of Brazil for a virtual asset broker registration.
CRSHMARKET Completes $3.5 Million Seed Round Led by 6th Man Ventures
CRSHMARKET announced the completion of a $3.5 million seed round led by 6th Man Ventures (6MV), with participation from Reciprocal Ventures, Lattice Fund, and Starting Line. The project is a live-stream prediction market built on Monad, where viewers can predict the outcomes of gaming and real-life live streams, among other content. Markets settle within 60 seconds, turning real-time live streams into fast, social prediction markets.
Regulatory Developments
Christina Ng, Executive Director of the Investment Products Division at the Hong Kong Securities and Futures Commission (SFC), stated at Hong Kong FinTech Week that an "Innovation Pathway" will be launched, with the aim of integrating tokenized funds with digital currency to enhance liquidity and treasury management efficiency. Ng revealed that the first batch of tokenized money market funds are conducting secondary market trading on licensed trading platforms, and a tokenized gold ETF may become the next pilot. Hong Kong currently has 17 approved tokenized retail products, covering money market funds, gold products, and ETFs, with total assets under management of $1.3 billion. In the medium to long term, the Hong Kong SFC will also promote the use of tokenized assets as collateral, expand the on-chain representation of assets such as stocks and bonds, and explore the application of smart contracts in investment decision-making and transaction process automation.
Industry sources say that South Korea's Financial Services Commission (FSC) held an emergency security inspection meeting on November 2 with major crypto exchanges and custodians to discuss raising the cold wallet custody ratio for exchanges. Consideration is being given to raising the current requirement of 80% or more under the Virtual Asset User Protection Act to around 99%, the level maintained by some major exchanges. Upbit's cold wallet custody ratio for user assets exceeds 99%, Bithumb is approximately 94%, Coinone is 85%, and exchanges such as GOPAX are in the low 80s.
France Postpones 2027 Budget Vote, Two Crypto Exit Tax Proposals Rejected
France's National Assembly has postponed the vote on the revenue portion of the 2027 national budget to Tuesday to continue reviewing related content, with 758 amendments still pending. This is the second postponement of the vote; the Assembly must complete its first reading by midnight on November 17. The French National Assembly on Friday rejected two crypto exit tax proposals that would
