[Binance delays November LUNC burn for first time since 2023]
Binance had not carried out its monthly Terra Classic (LUNC) token burn as of Nov. 1, Cryptopolitan reported.
Binance has conducted regular LUNC burns since 2023, and most recently burned about 334.88 million LUNC on Oct. 1. The outlet said it remains unclear whether the latest burn was delayed or halted, as Binance’s existing operating policy allows trading-fee settlement through the fifth of each month. Some in the community have speculated that a recent Binance hacking incident may have had an impact, but Binance has not officially explained why the burn did not take place or whether it was related to the hack.
https://coinness.com/en/news/1174256
Binance had not carried out its monthly Terra Classic (LUNC) token burn as of Nov. 1, Cryptopolitan reported.
Binance has conducted regular LUNC burns since 2023, and most recently burned about 334.88 million LUNC on Oct. 1. The outlet said it remains unclear whether the latest burn was delayed or halted, as Binance’s existing operating policy allows trading-fee settlement through the fifth of each month. Some in the community have speculated that a recent Binance hacking incident may have had an impact, but Binance has not officially explained why the burn did not take place or whether it was related to the hack.
https://coinness.com/en/news/1174256
CoinNess
Binance delays November LUNC burn for first time since 2023 - CoinNess
Binance had not carried out its monthly Terra Classic (LUNC) token burn as of Nov. 1, Cryptopolitan reported. Binance has conducted regular LUNC burns since 20...
[South Korea’s Democratic Party proposes delaying crypto income tax]
South Korea’s Democratic Party has formally proposed to the government a delay in taxing income from virtual assets, Newsis reported.
Kim Min-seok, leader of the Democratic Party, said at the party’s Supreme Council meeting on Nov. 4 that the party had weighed the issue through consultations between the government and the ruling party centered on the National Assembly’s Strategy and Finance Committee, as well as meetings with virtual asset service providers. Kim said the party concluded that it would be preferable to first enact a basic law on digital assets to establish an overall framework and allow an adjustment period for companies and investors, after considering taxation principles, conditions in the domestic industry and fairness among users.
A tax on virtual assets was introduced through a 2020 revision to the Income Tax Act, but its implementation has been postponed three times so far. The core measure is a 22% tax rate, including local income tax, on virtual asset investment income exceeding 2.5 million won. The government and the Democratic Party had originally planned to press ahead with implementation in January next year, but later reversed their position after investor backlash.
https://coinness.com/en/news/1174257
See more: https://n.news.naver.com/article/003/0014300051
South Korea’s Democratic Party has formally proposed to the government a delay in taxing income from virtual assets, Newsis reported.
Kim Min-seok, leader of the Democratic Party, said at the party’s Supreme Council meeting on Nov. 4 that the party had weighed the issue through consultations between the government and the ruling party centered on the National Assembly’s Strategy and Finance Committee, as well as meetings with virtual asset service providers. Kim said the party concluded that it would be preferable to first enact a basic law on digital assets to establish an overall framework and allow an adjustment period for companies and investors, after considering taxation principles, conditions in the domestic industry and fairness among users.
A tax on virtual assets was introduced through a 2020 revision to the Income Tax Act, but its implementation has been postponed three times so far. The core measure is a 22% tax rate, including local income tax, on virtual asset investment income exceeding 2.5 million won. The government and the Democratic Party had originally planned to press ahead with implementation in January next year, but later reversed their position after investor backlash.
https://coinness.com/en/news/1174257
See more: https://n.news.naver.com/article/003/0014300051
CoinNess
South Korea’s Democratic Party proposes delay to crypto income tax - CoinNess
Kim Min-seok, leader of South Korea’s ruling Democratic Party, has formally proposed to the government a delay in taxation on virtual asset income, Newsis rep...
[Stablecoin supply falls $11.5B over 30 days]
Total stablecoin supply fell by $11.5 billion, or 3.8%, over the past 30 days to $291.2 billion, Matthew Sigel, VanEck’s head of digital assets research, said. That left supply down 7% from its 52-week high. Supply at Tether and Circle fell by $5.7 billion and $3.2 billion, respectively, accounting for about 75% of the overall decline.
https://coinness.com/en/news/1174258
Total stablecoin supply fell by $11.5 billion, or 3.8%, over the past 30 days to $291.2 billion, Matthew Sigel, VanEck’s head of digital assets research, said. That left supply down 7% from its 52-week high. Supply at Tether and Circle fell by $5.7 billion and $3.2 billion, respectively, accounting for about 75% of the overall decline.
https://coinness.com/en/news/1174258
[Bitcoin miners face mounting profitability pressure: VanEck's Sigel]
Bitcoin miners are facing growing pressure on profitability as the network hash rate nears a record 1,038 EH/s, Matthew Sigel, VanEck’s head of digital assets research, said.
Sigel added that ahead of the April 2028 halving, operating an Antminer S21 XP priced at $3,459 would require Bitcoin to average around $100,000 through the halving to break even, assuming electricity costs of $0.08 per kWh, a stable network hash rate and three-year depreciation. To recover the initial investment on a cash basis by late 2028, BTC would need to average about $116,000, he said.
https://coinness.com/en/news/1174259
Bitcoin miners are facing growing pressure on profitability as the network hash rate nears a record 1,038 EH/s, Matthew Sigel, VanEck’s head of digital assets research, said.
Sigel added that ahead of the April 2028 halving, operating an Antminer S21 XP priced at $3,459 would require Bitcoin to average around $100,000 through the halving to break even, assuming electricity costs of $0.08 per kWh, a stable network hash rate and three-year depreciation. To recover the initial investment on a cash basis by late 2028, BTC would need to average about $116,000, he said.
https://coinness.com/en/news/1174259
CoinNess
Bitcoin miners face mounting profitability pressure: VanEck's Sigel - CoinNess
Bitcoin miners are facing growing pressure on profitability as the network hash rate nears a record 1,038 EH/s, Matthew Sigel, VanEck’s head of digital assets...
[James Wynn reopens 40x BTC short five days after liquidation]
James Wynn, a well-known trader on Hyperliquid whose positions were fully liquidated five days ago, has reopened a 40x BTC short position, according to Lookonchain. The position size is 1.256 BTC, or about $96,000, with a liquidation price of $78,227.92.
https://coinness.com/en/news/1174260
James Wynn, a well-known trader on Hyperliquid whose positions were fully liquidated five days ago, has reopened a 40x BTC short position, according to Lookonchain. The position size is 1.256 BTC, or about $96,000, with a liquidation price of $78,227.92.
https://coinness.com/en/news/1174260
CoinNess
James Wynn reopens 40x BTC short five days after liquidation - CoinNess
James Wynn, a well-known trader on Hyperliquid whose positions were fully liquidated five days ago, has reopened a 40x BTC short position, according to Lookonch...
[Hack suspected in Goddess of Victory: NIKKE PC launcher, risking account and crypto wallet theft]
Yonhap reported that the PC launcher for Tencent-serviced game Goddess of Victory: NIKKE was found to have been compromised by malware inserted through a suspected hack. If infected, attackers could execute arbitrary commands with user-level privileges to install additional malware or steal account information stored in web browsers, along with API keys, tokens, and cryptocurrency wallet data.
The report’s author said users should stop running the NIKKE PC launcher and remove the malware until official measures are announced. The author added that users should change all account passwords saved in browsers and move APIs and cryptocurrency wallets to new addresses.
https://coinness.com/en/news/1174261
See more: https://www.yna.co.kr/view/AKR20261104049300017?section=industry/all&site=major_news01
Yonhap reported that the PC launcher for Tencent-serviced game Goddess of Victory: NIKKE was found to have been compromised by malware inserted through a suspected hack. If infected, attackers could execute arbitrary commands with user-level privileges to install additional malware or steal account information stored in web browsers, along with API keys, tokens, and cryptocurrency wallet data.
The report’s author said users should stop running the NIKKE PC launcher and remove the malware until official measures are announced. The author added that users should change all account passwords saved in browsers and move APIs and cryptocurrency wallets to new addresses.
https://coinness.com/en/news/1174261
See more: https://www.yna.co.kr/view/AKR20261104049300017?section=industry/all&site=major_news01
CoinNess
Hack suspected in Goddess of Victory: NIKKE PC launcher, risking account and crypto wallet theft - CoinNess
Yonhap reported that the PC launcher for Tencent-serviced game Goddess of Victory: NIKKE was found to have been compromised by malware inserted through a suspec...
[OKX founder says marketing-first culture poses risks to crypto industry]
OKX founder Xu Mingxing said on X that a marketing-first culture at Binance could pose risks to the broader crypto industry.
Xu said Binance’s $6.3 billion hack began when one employee was deceived by a fake job interview, later spread to two more employees, and may have involved internal AI tools. While Xu said he would not speculate on a rival’s security control failures, he argued that a culture where marketing comes first can be highly dangerous in the industry. Xu added that users may be drawn to yields or promotional bonuses, but hackers and scammers target 100% of principal. In crypto, security, accountability and compliance should always come before marketing, Xu said, adding that yield or promotional rewards cannot make up for losses of principal and that users should choose platforms that prioritize not only attracting assets but also protecting them.
Xu and Binance founder Zhao Changpeng have clashed before on various issues. Xu also previously said the industry should act together on security standards after the Binance hack.
https://coinness.com/en/news/1174262
OKX founder Xu Mingxing said on X that a marketing-first culture at Binance could pose risks to the broader crypto industry.
Xu said Binance’s $6.3 billion hack began when one employee was deceived by a fake job interview, later spread to two more employees, and may have involved internal AI tools. While Xu said he would not speculate on a rival’s security control failures, he argued that a culture where marketing comes first can be highly dangerous in the industry. Xu added that users may be drawn to yields or promotional bonuses, but hackers and scammers target 100% of principal. In crypto, security, accountability and compliance should always come before marketing, Xu said, adding that yield or promotional rewards cannot make up for losses of principal and that users should choose platforms that prioritize not only attracting assets but also protecting them.
Xu and Binance founder Zhao Changpeng have clashed before on various issues. Xu also previously said the industry should act together on security standards after the Binance hack.
https://coinness.com/en/news/1174262
CoinNess
OKX founder says marketing-first culture poses risks to crypto industry - CoinNess
OKX founder Xu Mingxing said on X that a marketing-first culture at Binance could pose risks to the broader crypto industry. Xu said Binance’s $6.3 billion h...
[Anonymous whale withdraws $27.4M in PONS, ETH from OKX]
An anonymous whale address beginning with 0xDade, created three months ago, withdrew 69.12 million PONS worth $13.97 million and 5,887 ETH worth $13.45 million from OKX over the past 12 hours, Onchain Lens reported. Exchange withdrawals are typically interpreted as a move to hold the assets.
https://coinness.com/en/news/1174263
An anonymous whale address beginning with 0xDade, created three months ago, withdrew 69.12 million PONS worth $13.97 million and 5,887 ETH worth $13.45 million from OKX over the past 12 hours, Onchain Lens reported. Exchange withdrawals are typically interpreted as a move to hold the assets.
https://coinness.com/en/news/1174263
CoinNess
Anonymous whale withdraws $27.4M in PONS, ETH from OKX - CoinNess
An anonymous whale address beginning with 0xDade, created three months ago, withdrew 69.12 million PONS worth $13.97 million and 5,887 ETH worth $13.45 million ...
[Block’s 3Q gross profit from crypto business falls 50% on year]
According to The Block, Jack Dorsey-led payments company Block posted $52 million in gross profit from its Bitcoin-related business in the third quarter, down 50% from a year earlier. The decline was attributed to lower fees on Cash App, the company’s payments app.
Block’s overall net profit came to $566 million, up about 22.5% from $462 million a year earlier.
https://coinness.com/en/news/1174264
According to The Block, Jack Dorsey-led payments company Block posted $52 million in gross profit from its Bitcoin-related business in the third quarter, down 50% from a year earlier. The decline was attributed to lower fees on Cash App, the company’s payments app.
Block’s overall net profit came to $566 million, up about 22.5% from $462 million a year earlier.
https://coinness.com/en/news/1174264
CoinNess
Block’s 3Q gross profit from crypto business falls 50% on year - CoinNess
According to The Block, Jack Dorsey-led payments company Block posted $52 million in gross profit from its Bitcoin-related business in the third quarter, down 5...
[Tiger Research: JPMorgan blockchain deposit accounts handle just 0.03% of daily payment volume]
Tiger Research, an Asia-based Web3 research and consulting firm, said in a report titled "JPMorgan Kinexys: How Should Banks Use Blockchain?" that JPMorgan, the world’s largest U.S. dollar settlement bank with $12 trillion in daily payment flows, is developing 24-hour payment products through its blockchain unit Kinexys.
The report said blockchain deposit accounts used by corporate clients to move money around the clock are the most widely used product, but their daily transaction volume reaches only up to $3.5 billion, or 0.03% of JPMorgan’s total payments. By contrast, JLTXX, a tokenized fund product, attracted $800 million in two months, and the report said there is a strong possibility stablecoin issuers placed reserve funds into it. It added that while the business remains small, JPMorgan is gradually expanding its blockchain operations on the back of its existing payment clients and deposits.
https://coinness.com/en/news/1174265
See more: https://reports.tiger-research.com/p/jpmorgan-kinexys-how-should-banks-use-kor?utm_source=telegram&utm_medium=post&utm_campaign=jpmorgan_261104
Tiger Research, an Asia-based Web3 research and consulting firm, said in a report titled "JPMorgan Kinexys: How Should Banks Use Blockchain?" that JPMorgan, the world’s largest U.S. dollar settlement bank with $12 trillion in daily payment flows, is developing 24-hour payment products through its blockchain unit Kinexys.
The report said blockchain deposit accounts used by corporate clients to move money around the clock are the most widely used product, but their daily transaction volume reaches only up to $3.5 billion, or 0.03% of JPMorgan’s total payments. By contrast, JLTXX, a tokenized fund product, attracted $800 million in two months, and the report said there is a strong possibility stablecoin issuers placed reserve funds into it. It added that while the business remains small, JPMorgan is gradually expanding its blockchain operations on the back of its existing payment clients and deposits.
https://coinness.com/en/news/1174265
See more: https://reports.tiger-research.com/p/jpmorgan-kinexys-how-should-banks-use-kor?utm_source=telegram&utm_medium=post&utm_campaign=jpmorgan_261104
CoinNess
Tiger Research: JPMorgan blockchain deposit accounts handle just 0.03% of daily payment volume - CoinNess
Tiger Research, an Asia-based Web3 research and consulting firm, said in a report titled "JPMorgan Kinexys: How Should Banks Use Blockchain?" that JPMorgan, the...
[THORChain resumes swaps on some chains after 3.21.1 update]
Cross-chain interoperability protocol THORChain said swaps have resumed on AVAX, BASE, BCH, BTC, DOGE, ETH, LTC, RUNE, TRON, XRPL and ZEC following its 3.21.1 update.
Trading remains halted for ATOM, BSC and SOL. THORChain said 14 active nodes have not yet upgraded to version 3.21.1, and all active nodes must update to that version to resolve swap performance issues. The protocol added the update also brings it one step closer to integrating Monero.
https://coinness.com/en/news/1174266
Cross-chain interoperability protocol THORChain said swaps have resumed on AVAX, BASE, BCH, BTC, DOGE, ETH, LTC, RUNE, TRON, XRPL and ZEC following its 3.21.1 update.
Trading remains halted for ATOM, BSC and SOL. THORChain said 14 active nodes have not yet upgraded to version 3.21.1, and all active nodes must update to that version to resolve swap performance issues. The protocol added the update also brings it one step closer to integrating Monero.
https://coinness.com/en/news/1174266
[Hacked European institution was French bank Crédit Mutuel Arkéa: ZachXBT]
The European Union-based crypto firm previously believed to have been hit by a hack was identified as French bank Crédit Mutuel Arkéa, on-chain analyst ZachXBT said. Crédit Mutuel Arkéa is a bank with $235 billion in assets under management. ZachXBT had said on Nov. 2 that the institution suffered a $106 million hack, and the estimated losses have since risen to $133 million.
https://coinness.com/en/news/1174267
The European Union-based crypto firm previously believed to have been hit by a hack was identified as French bank Crédit Mutuel Arkéa, on-chain analyst ZachXBT said. Crédit Mutuel Arkéa is a bank with $235 billion in assets under management. ZachXBT had said on Nov. 2 that the institution suffered a $106 million hack, and the estimated losses have since risen to $133 million.
https://coinness.com/en/news/1174267
CoinNess
Hacked European institution was French bank Crédit Mutuel Arkéa: ZachXBT - CoinNess
The European Union-based crypto firm previously believed to have been hit by a hack was identified as French bank Crédit Mutuel Arkéa, on-chain analyst ZachXB...
[Google Cloud tests blockchain for bank lending operations]
Google Cloud, Google’s cloud business, has demonstrated technology that combines AI and blockchain to automate processes ranging from corporate loan contracts and bond transfers to interest payments, Digital Asset reported. The core of the project is the use of blockchain-based smart contracts to automate work that traditional financial institutions have handled manually.
The company conducted a proof of concept with fintech firm Nammu21 to automate syndicated corporate lending operations on blockchain. The demonstration used Google Cloud Universal Ledger, or GCUL, the company’s distributed ledger infrastructure for financial institutions, along with Nammu21’s AI-based contract analysis technology.
https://coinness.com/en/news/1174268
See more: https://www.digitalasset.works/news/articleView.html?idxno=44038
Google Cloud, Google’s cloud business, has demonstrated technology that combines AI and blockchain to automate processes ranging from corporate loan contracts and bond transfers to interest payments, Digital Asset reported. The core of the project is the use of blockchain-based smart contracts to automate work that traditional financial institutions have handled manually.
The company conducted a proof of concept with fintech firm Nammu21 to automate syndicated corporate lending operations on blockchain. The demonstration used Google Cloud Universal Ledger, or GCUL, the company’s distributed ledger infrastructure for financial institutions, along with Nammu21’s AI-based contract analysis technology.
https://coinness.com/en/news/1174268
See more: https://www.digitalasset.works/news/articleView.html?idxno=44038
CoinNess
Google Cloud tests blockchain for bank lending operations - CoinNess
Google Cloud, Google’s cloud business, has demonstrated technology that combines AI and blockchain to automate processes ranging from corporate loan contracts...
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[BTC shows stronger resilience than U.S. stocks despite setbacks, Jack Yi says]
Jack Yi, founder of crypto-focused investment firm LD Capital, said Bitcoin is showing stronger resilience than U.S. stocks despite setbacks including uncertainty around the U.S. midterm elections and the Binance hack.
In a post on X, Yi said Republicans were likely to lose both the House and Senate, while the outcome in Texas, a key battleground area, remained uncertain. In that scenario, Yi said, U.S. stocks could face a further correction. Bitcoin, meanwhile, was due for a rebound after a recent 40-day correction, but had yet to reach an optimal correction range amid the Binance hack and midterm-election uncertainty, he said. Even so, Yi said BTC remains in a bull-market trend and is holding up better than U.S. equities despite a concentration of external negative factors.
https://coinness.com/en/news/1174269
Jack Yi, founder of crypto-focused investment firm LD Capital, said Bitcoin is showing stronger resilience than U.S. stocks despite setbacks including uncertainty around the U.S. midterm elections and the Binance hack.
In a post on X, Yi said Republicans were likely to lose both the House and Senate, while the outcome in Texas, a key battleground area, remained uncertain. In that scenario, Yi said, U.S. stocks could face a further correction. Bitcoin, meanwhile, was due for a rebound after a recent 40-day correction, but had yet to reach an optimal correction range amid the Binance hack and midterm-election uncertainty, he said. Even so, Yi said BTC remains in a bull-market trend and is holding up better than U.S. equities despite a concentration of external negative factors.
https://coinness.com/en/news/1174269
CoinNess
BTC shows stronger resilience than U.S. stocks despite setbacks, Jack Yi says - CoinNess
Jack Yi, founder of crypto-focused investment firm LD Capital, said Bitcoin is showing stronger resilience than U.S. stocks despite setbacks including uncertain...
[BTC falls below $76,000]
According to CoinNess market monitoring, BTC has fallen below $76,000. BTC is trading at $75,944.42 on the Binance USDT market.
https://coinness.com/en/news/1174270
According to CoinNess market monitoring, BTC has fallen below $76,000. BTC is trading at $75,944.42 on the Binance USDT market.
https://coinness.com/en/news/1174270
CoinNess
BTC falls below $76,000 - CoinNess
According to CoinNess market monitoring, BTC has fallen below $76,000. BTC is trading at $75,944.42 on the Binance USDT market.
[$127 million worth of futures liquidated in the past hour]
Major exchanges have seen $127 million worth of futures liquidated in the past hour. In the past 24 hours, $345 million worth of futures have been liquidated.
https://coinness.com/en/news/1174271
Major exchanges have seen $127 million worth of futures liquidated in the past hour. In the past 24 hours, $345 million worth of futures have been liquidated.
https://coinness.com/en/news/1174271
[a16z-linked address deposits another $2.7M in HYPE to exchanges]
An address linked to Andreessen Horowitz, or a16z, deposited another 32,862 HYPE worth $2.67 million to exchanges over the past 10 hours, according to ai_9684xtpa. The address has transferred a total of $15.02 million worth of HYPE to exchanges over the past five days.
https://coinness.com/en/news/1174272
An address linked to Andreessen Horowitz, or a16z, deposited another 32,862 HYPE worth $2.67 million to exchanges over the past 10 hours, according to ai_9684xtpa. The address has transferred a total of $15.02 million worth of HYPE to exchanges over the past five days.
https://coinness.com/en/news/1174272
CoinNess
a16z-linked address deposits another $2.7M in HYPE to exchanges - CoinNess
An address linked to Andreessen Horowitz, or a16z, deposited another 32,862 HYPE worth $2.67 million to exchanges over the past 10 hours, according to ai_9684xt...
[Anonymous whale withdraws $23.4M in BTC from Binance]
An anonymous whale withdrew 303.8 BTC worth $23.4 million from Binance and then dispersed the funds across multiple addresses, according to Onchain Lens. Exchange withdrawals are typically interpreted as a sign of holding intent.
https://coinness.com/en/news/1174273
An anonymous whale withdrew 303.8 BTC worth $23.4 million from Binance and then dispersed the funds across multiple addresses, according to Onchain Lens. Exchange withdrawals are typically interpreted as a sign of holding intent.
https://coinness.com/en/news/1174273
CoinNess
Anonymous whale withdraws $23.4M in BTC from Binance - CoinNess
An anonymous whale withdrew 303.8 BTC worth $23.4 million from Binance and then dispersed the funds across multiple addresses, according to Onchain Lens. Exchan...
[CoWSwap begins supporting Aave V4 position swaps on three networks]
Decentralized exchange Cow Protocol said CoWSwap has begun supporting Aave V4 position swaps. Initial support covers Ethereum, Base and Avalanche.
https://coinness.com/en/news/1174274
Decentralized exchange Cow Protocol said CoWSwap has begun supporting Aave V4 position swaps. Initial support covers Ethereum, Base and Avalanche.
https://coinness.com/en/news/1174274
CoinNess
CoWSwap begins supporting Aave V4 position swaps on three networks - CoinNess
Decentralized exchange Cow Protocol said CoWSwap has begun supporting Aave V4 position swaps. Initial support covers Ethereum, Base and Avalanche.
[Pro-crypto Republican Byron Donalds wins Florida governor race]
Pro-crypto Republican Byron Donalds defeated Democratic candidate David Jolly in Florida’s gubernatorial election, Cointelegraph reported. Donalds is set to become the state’s first Black governor. While serving in the U.S. House of Representatives, Donalds introduced a bill on Bitcoin reserves and holdings aimed at writing President Donald Trump’s executive order on a strategic Bitcoin reserve into law.
https://coinness.com/en/news/1174275
Pro-crypto Republican Byron Donalds defeated Democratic candidate David Jolly in Florida’s gubernatorial election, Cointelegraph reported. Donalds is set to become the state’s first Black governor. While serving in the U.S. House of Representatives, Donalds introduced a bill on Bitcoin reserves and holdings aimed at writing President Donald Trump’s executive order on a strategic Bitcoin reserve into law.
https://coinness.com/en/news/1174275
[Binance hacker launders stolen funds into BTC via THORChain]
The Binance hacker is converting stolen funds into BTC through THORChain (RUNE), according to Lookonchain. The attacker split the stolen SOL across multiple wallets, exchanged it for USDC, moved the funds to the Ethereum network, and bought ETH. The laundering has continued by swapping ETH into BTC through THORChain.
https://coinness.com/en/news/1174276
The Binance hacker is converting stolen funds into BTC through THORChain (RUNE), according to Lookonchain. The attacker split the stolen SOL across multiple wallets, exchanged it for USDC, moved the funds to the Ethereum network, and bought ETH. The laundering has continued by swapping ETH into BTC through THORChain.
https://coinness.com/en/news/1174276