[FinChain launches RWA yield enhancement solution with Plume]

FinChain, a blockchain platform backed by Hong Kong fintech company Fosun Wealth Holdings, has launched “FLEX & FINO,” an RWA-based on-chain yield enhancement solution, in partnership with Plume, an open-finance platform for institutional assets.

The product uses FUSD, which is backed by tokenized short-term U.S. Treasuries and money market funds, to generate additional yield through a leveraged looping strategy. Users can borrow USDC against FUSD as collateral and deposit it into a liquidity pool to earn extra yield on top of the base FUSD return.

The utilization cap for leverage risk management is 90%, and the projected annual percentage yield under the base-case assumption is as high as 7.2%. FinChain said the launch expands FUSD’s use case from simple holding to DeFi-based structured investment and lays the groundwork for additional RWA product development. Total value locked tied to the launch will be reflected in partner protocols and Nest Protocol after the rollout.
https://coinness.com/en/news/1174302

[Chainalysis executive says unstopped Binance hack funds may be laundered via Chinese networks]

A substantial share of the funds stolen in the Binance hack, which North Korea has been identified as being behind, is likely to flow to money-laundering operations tied to Chinese capital, including Huione Guarantee and Xinbi Guarantee, the Dong-A Ilbo reported.

In an interview with the newspaper on Nov. 3, Alec ZeBrik, senior manager of global services at Chainalysis, said the unstopped portion of the $6.34 billion in stolen funds, or about $3.49 billion, is likely to be cashed out through Chinese-language money laundering networks, or CMLNs. ZeBrik added that fund movements can sometimes take more than a year, and tracking and monitoring are needed until then.
https://coinness.com/en/news/1174303
See more: https://www.donga.com/news/Economy/article/all/20261104/134966096/1

[Zcash grants committee drops plan to redirect 98K ZEC for mining rewards]

Zcash Community Grants, or ZCG, has withdrawn a plan to redirect about 98,000 ZEC into a future mining rewards fund, CoinDesk reported.

ZCG had proposed shifting part of its holdings and future ZEC allocations into a mining rewards reserve after criticism emerged last month over the size and operation of developer grants. The committee later decided not to move forward with the proposal as community opposition continued. ZCG said any future changes to fund allocation should be decided through the network’s existing governance process. It currently receives 8% of newly issued ZEC for grant funding, and that arrangement will remain in place until the relevant rules are changed.
https://coinness.com/en/news/1174304

[Minor progressive parties push back on Democratic Party tax-delay proposal]

South Korea’s Democratic Party has faced a broad backlash from minor progressive opposition parties after it formally proposed that the government delay taxation on virtual asset income, MBC reported.

Cho Kuk, head of the innovation policy research institute at the Rebuilding Korea Party, criticized the Democratic Party as appearing to become a party that delays reform. Yong Hye-in, floor leader of the Basic Income Party, said a delay in virtual asset taxation was unlikely to win back support from voters in their 20s as it did during the Roh Moo-hyun administration. In a briefing, the Justice Party argued that the sharp standard of fairness applied to multicultural family policy appeared to become far more lenient when it came to high-income virtual asset investors benefiting from tax-free privileges. In a commentary, the Progressive Party said a tax delay that disproportionately benefits large investors would do nothing to help the lives of ordinary young people and working-class households.
https://coinness.com/en/news/1174305
See more: https://n.news.naver.com/mnews/article/659/0000048416?sid=102

[FANC to suspend Hub service on Nov. 10, convert wFANC into CELEBe points]

FANC, a blockchain fan-content platform, said access to FANC Hub will be suspended starting Nov. 10 as part of a bulk conversion process.

wFANC held in the Hub will be converted in bulk into CELEBe points by Nov. 10, 2026 without a separate application, while the initial conversion amount and all deducted fees will be fully restored. Users can check the conversion results in the CELEBe app after Nov. 10.

FANC added its global chat room will be converted into an announcement-only channel where chat participation is not allowed, and official notices will be delivered only through FANC’s official channel and the FANC global chat room.
https://coinness.com/en/news/1174306

[Analyst sees possible BTC bottom as selling pressure eases, but demand remains weak]

Crypto analyst Darkfost said easing BTC selling pressure could signal the market is forming a bottom, although buying demand needed for a price rebound remains insufficient.

In a post on X, Darkfost said the Seller Exhaustion Constant had fallen to levels seen at past bear-market bottoms. Darkfost said the indicator measures how much selling capacity remains by comparing the share of BTC supply in profit with average monthly volatility. During BTC’s decline of more than 10% from its most recent peak, a significant amount of short-term profit-taking appears to have taken place, Darkfost said. In past cases, bottoms were often formed as selling pressure weakened to this extent. Even so, Darkfost said weaker selling pressure alone does not guarantee a price recovery, adding a rebound would require fresh buying demand and the current BTC market still lacks sufficient buying interest.
https://coinness.com/en/news/1174307

[Some accounts pushed 'bank run' claims around Binance hack, influencer says]

More than 1,000 accounts posted 11,700 negative messages over 78 hours after the Binance hack, and 3,354 of them were classified as false information, crypto influencer Ape said on X.

Ape said the negative posts used terms such as "inside job," "insolvent" and "withdrawal evasion" in line with Binance’s official response timing. Among 641 accounts that were especially active in spreading negative content, 452 showed signs of coordination, while 89% had rarely mentioned Binance before the hack and then sharply increased their negative posts afterward, Ape said. Ape added that after Binance resumed withdrawals, the accounts posted inflammatory messages such as "withdraw immediately" and "bank run" at a rate of 11.2 posts per hour. Binance founder Changpeng Zhao reposted the thread and wrote that it pointed to an organized opinion attack.
https://coinness.com/en/news/1174308

[Tae Yong-ho’s son gets 3 1/2 years in prison in $1.3M crypto fraud case]

Tae, the son of former People Power Party lawmaker Tae Yong-ho, was sentenced in a first-instance ruling to three years and six months in prison on charges of defrauding acquaintances of 1.8 billion won ($1.3 million) through a virtual asset investment scam, according to Hankyung.

South Korea’s Seoul Central District Court’s Criminal Agreement Division 25, presided over by Judge Heo Jeong-ryong, handed down the sentence today. Tae was indicted and detained in May on charges of violating the Act on the Aggravated Punishment of Specific Economic Crimes through fraud. Prosecutors said Tae had deceived acquaintances into believing he would invest in a virtual asset business and took Bitcoin and cash from them over about two years from around May 2023.
https://coinness.com/en/news/1174309
See more: https://www.hankyung.com/article/2026110464091

[Democrats win U.S. House, signal probe into Trump family crypto ventures]

U.S. Democrats are expected to intensify congressional investigations into President Donald Trump’s family crypto businesses after retaking the House in the midterm elections, Fortune reported.

With a House majority, Democrats can issue subpoenas requiring the administration and private companies to provide documents and testimony. Rep. Robert Garcia, the next Democratic chairman of the House Oversight Committee, said he plans to investigate the Trump family’s cryptocurrency trading and related activities. A likely early target is World Liberty Financial (WLFI), a crypto company tied to the Trump family. Democrats have focused on last year’s purchase of $500 million worth of the company’s stake by a member of the United Arab Emirates royal family. Democrats also plan to examine President Trump’s pardon of Binance co-founder Zhao Changpeng. The White House criticized the planned investigation as a political attack.
https://coinness.com/en/news/1174310

[Block buys 120 BTC in third quarter, holdings rise to 9,237]

Block, the payments company founded by Jack Dorsey, bought an additional 120 BTC in the third quarter, bringing its total holdings to 9,237 BTC, according to BitcoinTreasuries.net.
https://coinness.com/en/news/1174311

[South Korea to review Dunamu-Naver Financial merger on Nov. 18]

South Korea’s Fair Trade Commission will hold a plenary meeting on Nov. 18 to review the business combination of Dunamu, the operator of Upbit, and Naver Financial, The Korea Economic Daily TV reported in an exclusive.

The review is effectively seen as the approval stage for a merger between the two companies. If the combination is cleared, only licensing procedures, including financial authorities’ approval for a change in major shareholder, would remain.

Naver Financial plans to complete the final merger on March 31 after a shareholders’ meeting on Feb. 26 and a stock swap on March 31.
https://coinness.com/en/news/1174312
See more: https://www.wowtv.co.kr/NewsCenter/News/Read?articleId=A202611040119&t=NNv

[Alchemy Pay obtains Mississippi money transmitter license, bringing U.S. total to 20 states]

Blockchain-based payment network Alchemy Pay (ACH) said it has obtained a money transmitter license in Mississippi, bringing the number of U.S. states where it holds such licenses to 20.
https://coinness.com/en/news/1174313

[Binance hack exposed misuse of internal AI tools, raising concerns over new attack paths]

The Binance hack exposed the misuse of an internal AI tool, raising concerns that companies adopting AI could face new security risks, according to Wu Blockchain founder Colin Wu.

In a post on X, Wu said Binance indicated a hacker compromised one engineer’s computer and then used an internal AI tool to take control of the work environments of two other engineers responsible for wallets. Wu added that companies may be unintentionally expanding security risks as they adopt AI to improve operational efficiency, and questioned whether Binance’s internal AI tool may have opened a new attack path for hackers because of weak security design or inadequate access control management.
https://coinness.com/en/news/1174314

[BTC rebounds after election-driven drop as options traders place $420M bullish bets]

Bitcoin fell to as low as $75,700 today on U.S. midterm election concerns, then recovered to around $78,300 within hours in a V-shaped rebound, according to BeInCrypto.

The outlet said block trades in the Bitcoin options market on election day reached $660 million, more than double yesterday’s level. Traders in particular bought around $420 million worth of call options, it added. At the same time, spot demand remained weak, with roughly $1.16 billion in net outflows from U.S. spot BTC ETFs over the past three trading days.

Analysts at crypto market-making and trading firm Wintermute said Bitcoin needs to reclaim and hold $80,000 with meaningful spot buying to gain further upside momentum. If BTC makes a valid break above $80,000, the price could rise toward $81,300-$82,000, they said. If the recovery fails, Bitcoin could retest support at $77,000 and potentially fall back to today’s low of $75,700, the analysts added.
https://coinness.com/en/news/1174315

[Trader says ADA needs 16x gain to reclaim record high as altcoin season remains distant]

Crypto trader Nebraskangooner, who has about 408,000 followers on X, expressed skepticism about an altcoin season, saying Cardano’s ADA would need to rise about 16-fold from its current price to reclaim its all-time high.

In a post on X, Nebraskangooner said most major altcoins are still trading 50% to 90% below their record highs and argued that, before talking about an altcoin season, investors need to look at how far those tokens remain from their peaks. According to CoinGecko data shared by the trader, ADA was trading at $0.1905, down 93.8% from its September 2021 peak of $3.09, and would need to rise about 1,520% to recover that high. The declines from all-time highs for other major cryptocurrencies were 89.7% for DOGE, 79.0% for LINK, 68.2% for SOL, 65.0% for XRP, 61.7% for ZEC, 53.8% for ETH, 49.0% for BNB, and 38.4% for BTC.
https://coinness.com/en/news/1174316

[Binance co-CEO says hackers are evolving after $6.3B theft]

Binance co-founder and co-CEO He Yi said on X the exchange’s anti-hacking monitoring system failed to catch the latest attack because hackers are also evolving.

He Yi said company rules bar employees from using work computers for personal purposes and that download records are subject to strict monitoring. He added that Binance had blocked around 50 hacking attempts this year, while hacking attacks and defenses are in a constant back-and-forth. That, He Yi said, is why the system was breached in this case.

Binance lost about $6.34 billion worth of cryptocurrency last week in a theft carried out by a North Korea-linked hacking group.
https://coinness.com/en/news/1174317

[Justin Sun says he will refile in California state court if sanctions bid is denied]

Tron founder Justin Sun said on X that if the court rules on his motion seeking sanctions against World Liberty Financial (WLFI), he will refile the lawsuit in a California state court.

Sun said he agreed in November 2024 to buy $30 million worth of World Liberty’s WLFI tokens and later increased his total investment to $45 million. In April this year, Sun sued, alleging World Liberty had used fraudulent means to induce the investment and had illegally frozen the tokens.

According to Sun, the token purchase agreement allows him to bring suit in either a California federal or state court. Sun said he chose federal court, but World Liberty later disclosed during the litigation that its ownership structure included UAE nationals and then began arguing that the federal court lacked jurisdiction. Sun added that he would seek to ensure World Liberty, not himself, bears the costs stemming from that tactic.

Sun had earlier asked the court to impose sanctions on World Liberty and its legal team, arguing that the company initially represented itself as a Florida-based U.S. entity and only later disclosed the existence of UAE-based owners.
https://coinness.com/en/news/1174318

[Bitwise says BTC spot ETF outflows reflect short-term risk aversion, not institutional exit]

Recent net outflows from U.S. spot Bitcoin ETFs reflect short-term risk aversion rather than a structural exit by institutional investors, according to André Dragosch, head of research at crypto asset manager Bitwise.

In an interview with Cointelegraph, Dragosch cited a recent Bitwise survey of 15 institutions invested in spot BTC ETFs and said none had reduced their spot BTC ETF allocations during the bear market. Dragosch added that regulatory filings submitted to U.S. authorities also showed that most institutional investors, excluding hedge funds, had largely maintained their existing positions.
https://coinness.com/en/news/1174319

[BTC spot CVD chart at 10:00 a.m. UTC on Nov. 4]

The spot CVD chart is an order-book analysis of the BTC/USDT spot trading pair. The upper panel shows the volume heatmap, while the lower panel shows cumulative volume delta, or CVD.

- The volume heatmap in the upper panel tracks trading volume at each price level, and the background becomes brighter when the price stays within a specific range for an extended period or makes a large move. Brighter areas may act as support or resistance levels.

- The cumulative volume delta indicator in the lower panel reflects buy and sell orders by order size, and the line for each color rises as buy orders increase. The yellow line is based on orders between $100 and $1,000, while the brown line reflects large orders between $1 million and $10 million.
https://coinness.com/en/news/1174320

[SOON fully restores mainnet bridge, resumes RPC operations]

SVM-based rollup infrastructure provider SOON said mainnet bridge access was fully restored on Nov. 4, and bridge operations and RPC services have resumed.

The SOON Foundation said it immediately secured control of the bridge after its monitoring system detected abnormal withdrawal activity on Oct. 31, stabilized the situation, and took the necessary recovery measures. The foundation said the bug behind the incident has been fixed and added that its rapid response prevented any loss of funds. The foundation plans to continue closely monitoring the network.
https://coinness.com/en/news/1174321

[Trader says BTC daily close above $78.5K may signal market normalization]

Bitcoin closing its daily candle above around $78,500 could be the first sign the market is normalizing after being shaken by the Binance hack, prominent crypto trader Doctor Profit said.

Doctor Profit said three technically important levels were presented on Sunday last week, with $78,500 corresponding to level two. Bitcoin is now testing that zone, and if it breaks below the level and then recovers, that could favor buyers, Doctor Profit said. That would mean panic selling triggered by the Binance hack has been absorbed, capitulation has likely run its course, and buyers are regaining control. Doctor Profit added that a recovery of the level-two price zone would signal market normalization, but Bitcoin needs to do more than stage a modest rebound from the lows. A clear recovery and consolidation confirmed by a daily close are needed for upside momentum to build again.
https://coinness.com/en/news/1174322