727 FinanceAnalysis: As long as the stock market sell-off continues, the risk of further deleveraging in the crypto market remains; Zhao Changpeng: The OpenSSH security vulnerability in Alpine Linux has been latent for 10 years, and remediation programs need to be applied as soon as possible; Report: The same group has stolen about $4.16 million from 430 iPhone users' wallets since mid-October.
Today's top news alerts:
US stocks close: Nasdaq plunges 5.5%, market cap of the Magnificent Seven evaporates by $1 trillion, AI supply chain hit hard
Report: Same group has stolen 430 wallets from iPhone users since mid-October, totaling approximately $4.16 million
Binance will gradually open withdrawals for more assets starting at 12:00 on November 6
Spot Bitcoin ETFs saw total net outflows of $430 million yesterday, with Fidelity FBTC leading at $200 million in net outflows
OpenAI renames data centers as compute campuses
iOS exploit kit DarkSword has caused $5.57 million in losses for crypto users; Zhao Changpeng calls for timely system updates
Pump.fun co-founder mentions prediction markets for the first time; company is hiring related business development staff
Binance applies to ArbitrumDAO to unfreeze and return frozen ETH and ARB
Regulation & Macro
Analysis: US tech stocks hit by sell-off wave; Democratic sweep of Congress raises AI regulation concerns
After Democrats won the midterm elections, US stocks surged on Wednesday, but as investors withdrew from tech stocks for a second consecutive trading day, the Nasdaq Composite plunged 3.3% on Thursday, the S&P 500 fell 1.9%, and the Dow dropped 489 points, or 0.9%. AMD fell 12%, Micron Technology fell 9%, SK Hynix fell 8.8%, Nvidia fell 5%, and the Philadelphia Semiconductor Index plunged 8%, hitting its lowest since April 20; the Nasdaq has fallen more than 10% from its record closing high on October 6. Investors worry that Democrats controlling both the Senate and House as well as winning key gubernatorial elections could lead to more regulation facing AI infrastructure construction across the United States. Jordan Watson, portfolio manager at Tandem Investment Advisors, said the trend of fleeing AI stocks may be only temporary, but the market may face more volatility.
Paraguayan president resigns after Ueno Bank collapse; USDT premium in local P2P market reaches 13%
According to Cointelegraph, the president of Paraguay resigned after the collapse of Ueno Bank, the USDT premium in the local P2P market reached 13%, and people are rushing to obtain US dollars.
Greek parliament approves 10% capital gains tax on cryptocurrency gains
According to Reuters, the Greek parliament passed a bill imposing a 10% capital gains tax on cryptocurrencies, Greece's first comprehensive legal framework for taxing crypto assets. Under the bill, up to €500 (about $563) in annual cryptocurrency capital gains will be exempt from the new tax. Previously reported, Greece planned to impose a 10% tax on cryptocurrency capital gains, with individual annual gains of up to €500 exempt.
Binance and CZ issue subpoena to Kevin O'Leary in FTX recovery case
According to Crypto Briefing, Binance and its founder Zhao Changpeng (CZ) have issued a subpoena to Shark Tank investor Kevin O'Leary in the FTX bankruptcy recovery lawsuit, requiring him to provide relevant information. The lawsuit was filed by FTX Recovery Trust and FTX Digital Markets in November 2024 against Binance and CZ, alleging that Binance's sale of its FTX shares back to FTX in July 2021 was a fraudulent transfer, seeking to recover at least $1.76 billion. O'Leary testified in December 2022 that Binance deliberately caused FTX's collapse. In July this year, the US Bankruptcy Court for the District of Delaware rejected Binance and CZ's motion to dismiss the core allegations, and the case has entered the discovery phase.
Project Dynamics
Zhao Changpeng: Alpine Linux's OpenSSH security vulnerability has been latent for 10 years; use the fix as soon as possible
Zhao Changpeng posted a warning on X platform that Alpine Linux's OpenSSH security vulnerability has existed for 10 years, and if it has not yet been fixed, use the patch as soon as possible. According to the post he reposted, OpenSSH released an emergency fix to address a severe SSH authentication bypass vulnerability on Alpine Linux: on affected servers, passwords longer than 256 bytes can unlock accounts restricted to key-only login without knowing the actual credentials.
Binance will gradually open withdrawals for more assets starting at 12:00 on November 6
Binance released security incident recovery progress update #9, announcing that starting at 12:00 Beijing time on November 6, withdrawal services for a batch of assets will be gradually opened. As before, the relevant withdrawal services will be restored in batches after security checks are completed, not all assets will be opened at the same time, and deposit services remain normal. The assets planned to open for withdrawal this time cover multiple networks including BSC, Base, Ethereum, Optimism, Polygon, and Arbitrum, including USDE, PENDLE, ZRO, XRP, CAKE, and others. Binance said it will prioritize restoration according to user demand over the past week, and other assets will be added gradually once conditions permit; during the restoration period, some users may encounter temporary delays or extended processing times, and if a withdrawal is unsuccessful, they can retry later.
Chainalysis: Finds some information of all users leaked, temporarily takes multiple services offline during investigation
Chainalysis released a security incident update stating that on Monday the company discovered that certain customer information of all Chainalysis users (including names, usernames, password hashes, and active tokens) was exposed to malicious actors. During the investigation, access to Reactor and Data Solutions was removed, and there is still no evidence that investigation data was accessed or that Chainalysis attribution data was manipulated. After discovering abnormal activity today, the company took KYT (user interface and API), other address screening products, and the login page offline, and directly notified customers whose KYT accounts were suspected of unauthorized access. The company plans to begin restoring access to KYT and address screening tomorrow, require users to reset passwords and rotate API keys, and continue repairing systems to restore Reactor and Data Solutions.
OpenAI renames data centers as compute campuses
OpenAI released the "National Community Compact" and the "Compute Campus Policy Blueprint," calling AI data centers "compute campuses," clarifying its commitments to communities for the compute campuses it will own and operate in the future, and proposing policy recommendations. The compact states that OpenAI will pay the full cost of the electricity and related infrastructure it uses and provide financial guarantees before major expenditures; formulate a water use plan for each campus, prioritize low-water cooling, publish water and electricity data and independent noise studies, and not sign confidentiality agreements with public officials; publish expected job numbers and cooperate with unions and training institutions. The policy blueprint calls on federal, state, and local policymakers to establish clear rules, requiring large electricity customers to bear the grid costs they add, protect other customers if projects fail, publicly report on water, energy, noise, and hiring, restrict developers from requiring public officials to sign confidentiality agreements, and require tax incentive terms to be public and clawbackable.
Pump.fun co-founder mentions prediction markets for the first time; company is hiring related business development staff
Pump.fun co-founder alon posted on X platform that the development company behind it, Baton Corporation, is hiring three new business development (BD) positions: perpetual contracts BD, prediction markets BD, and trading terminal BD. Alon said that to expand the social graph on the Pump.fun app, it is necessary to attract the best traders from various markets accessed through the app, including the Meme coin primary market, perpetual contracts, or prediction markets. Applicants need more than 2 years of experience leading BD at crypto platforms and a track record of driving significant impact; the preferred work location is on-site in New York, but remote may be considered for excellent candidates. DEGEN NEWS commented that this is the first time alon has mentioned prediction markets.
Binance applies to ArbitrumDAO to unfreeze and return frozen ETH and ARB
Binance initiated a proposal on the Arbitrum governance forum, applying to return 8,425.997 ETH and 74,559,805.2 ARB frozen on Arbitrum One to a recovery address designated by Binance, to compensate affected users. These funds were urgently frozen by the Arbitrum Security Council after Binance's hot wallet was attacked and transferred to a specific address. The proposal is currently in the forum discussion stage and must subsequently go through a Snapshot sentiment vote and on-chain governance process; the entire process is expected to take about 49 days; if there are legal proceedings restricting asset transfers, the relevant process may be extended. The proposal does not involve new fund expenditures by the DAO.
Binance: All API keys associated with SignalPlus have been removedIn response to a potential security issue reported by third-party platform SignalPlus, Binance has taken preventive measures by proactively removing all API keys associated with SignalPlus. Binance's own systems were not affected, and user funds are safe. Binance recommends that users who have used SignalPlus log directly into their Binance accounts to verify their positions and open orders, refrain from rebinding any API keys until SignalPlus confirms the issue is fully resolved, and be sure to enable the IP whitelist feature; it also recommends that all third-party platforms integrated with Binance review their own security controls and closely monitor for anomalous activity.
Samsung Wallet Launches Stablecoin Account for US Galaxy Users, Supporting USDC on Solana
According to Decrypt, Samsung Wallet has launched a stablecoin account for eligible Galaxy users in the US, supporting USDC on the Solana blockchain and covering approximately 82 million compatible devices. The service is built by Samsung in partnership with custody provider Bastion and Coinbase, supports fee-free transfers, and enables bank account withdrawals in more than 60 countries worldwide; topping up via credit card incurs a 4% fee, and the service is currently not available in New York State. Samsung plans to further explore stablecoin payments and other market applications in the future.
Zilliqa to Transition to Ethereum Layer 2, ZIL Token to Be Retained
Zilliqa stated in a post that nine years of operating independently as a Layer 1 did not achieve the expected success, with insufficient usage, capital, and liquidity, and that recent security incidents highlighted the high cost of maintaining an independent chain. The team has decided to adjust direction: Zilliqa will transition to the Zilliqa Institutional Layer (ZIL), becoming an Ethereum Layer 2 for regulated institutions. The ZIL token will be retained, and holders currently need to take no action; technical details will be announced in advance, and any swap or migration will be subject to official website announcements only.
SignalPlus: Cyberattack Losses Under $82,000, Affected Users to Be Fully Compensated
SignalPlus issued a security incident announcement stating that anomalous activity was detected in the early hours of November 4 and a cyberattack was confirmed. The attack originated from a compromised third-party Telegram account, affecting the accounts of some users who had not set up IP whitelists. As a preventive measure, SignalPlus immediately coordinated with its CEX partners to revoke all API keys associated with SignalPlus and temporarily suspended terminal services. Total losses from the incident are below $82,000, all affected users will receive full compensation, and the company expects to fully restore all services within the coming days.
Lido Launches Swap Feature, Supporting Ethereum, Arbitrum, and Base Networks
Lido announced in a post that the Swap feature is now live. Users can swap tokens directly on the Lido interface on Ethereum, Arbitrum, and Base, powered by CoW Swap. In addition, the Lido Swap component automatically adds an extra layer of price protection for larger swaps, combined with Chainlink price oracles, to help users avoid abnormally unfavorable exchange rates.
Analysis: Some Stolen Binance Funds Have Flowed into Chinese Money Laundering Networks
According to Bloomberg, blockchain analytics firm Chainalysis said that hackers behind the Binance theft are moving some of the stolen assets through Chinese money laundering networks (including over-the-counter trading platforms). Hundreds of thousands of dollars have been traced into these networks so far, only a small fraction of the total stolen, indicating the hackers are trying to cash out. Chainalysis data shows the hackers have moved approximately $500 million through the TRON network, dispersing it across more than 1,000 addresses before transferring it to Ethereum, Bitcoin, and other networks. Crypto companies have frozen approximately $3 billion of the stolen assets, while about $2.42 billion in BTC and ETH has barely moved since the theft, and the remaining nearly $1 billion has begun entering money laundering channels. A Binance spokesperson said the company is working with law enforcement, on-chain analytics firms, and stablecoin issuers to trace and freeze the relevant assets.
Bitcoin Core Developer Proposes "Quantum Landmine" Scheme to Guard Against Future Quantum Attacks on Bitcoin
Bitcoin Core developer Cory Fields has proposed a "quantum landmine" concept: attackers seeking to use future quantum computers to steal Bitcoin would first have to post an equal amount of Bitcoin as collateral, while original holders could pre-set a hidden proof of ownership and, during a lock-up period (e.g., 30 days), use that proof to reclaim their Bitcoin and confiscate the thief's collateral; attackers cannot know which holdings contain "landmines" before committing funds. The scheme applies only to owners who still hold their private keys, not to already-lost Bitcoin. For inactive wallets, Fields also envisions an auction system: competitors pre-stake hidden bids on vulnerable wallets, and if a quantum thief attacks, the highest bidder's smart contract automatically triggers, destroying the thief's target coins and confiscating their collateral as a bounty. Fields described these as "thought experiments," and the relevant execution rules have not yet been written.
Investment and Financing News
Sources: Anthropic May Delay IPO if AI Assets Remain Under Pressure
According to Reuters, four people familiar with the matter said potential investors doubt whether Anthropic can complete its roadshow the week after next and list as planned in November. The roadshow was originally scheduled to begin the week of November 9, with pricing the following week. Some now believe the $1.5 trillion valuation cap is already the expectation, and given Anthropic's consecutive quarterly losses and heavy investment in AI partners, the company may need to offer a larger discount. Sources said that if AI-related assets remain under pressure, the company may delay the listing until market conditions are more stable; Anthropic declined to comment. Two sources said investors are also awaiting Anthropic's October revenue data, which was left blank in its updated S-1 filing, to see whether growth has recovered from its recent slowdown.
AI Company Thinking Machines Lab Raising $5 Billion at $40 Billion Pre-Money Valuation
According to Business Insider citing people familiar with the matter, artificial intelligence company Thinking Machines Lab, founded by former OpenAI CTO Mira Murati, is raising $5 billion at a $40 billion pre-money valuation. The company previously completed a $2 billion seed round at a valuation of over $10 billion, but a subsequent fundraising attempt at a $500 billion valuation fell through in negotiations. On the same day, Thinking Machines Lab released its second-generation model Inkling 2 Small, using a MoE architecture with 594B-A17B parameters, undergoing four stages of pre-training and 9 days of joint reinforcement training; the lab said its score on analytical intelligence far exceeds that of previous models, and it will open the weights under the Apache 2.0 license next week.
Views & Analysis
Analysis: As Long as the Stock Market Selloff Continues, the Risk of Further Deleveraging in Crypto Markets Remains
CryptoQuant analyst Axel Adler Jr. noted that tech stocks suffered their largest single-day drop since the pandemic, with the Nasdaq 100 falling 6.36% to 26,630 points, the S&P 500 tech sector falling 7.3%, and the Philadelphia Semiconductor Index falling 12%. Democrats who won gubernatorial elections in Texas, Ohio, and Georgia pledged to pause new data center construction, sparking concerns about a slowdown in AI infrastructure expansion. On the same day, the VIX rose from 16.6 to 28.2, up nearly 70% in a single day. He believes that violent US stock market fluctuations may force funds to reduce positions to control risk, exacerbating the stock selloff and further pressuring risk assets such as Bitcoin; Bitcoin rebounded to $80,000 before falling back to $75,000; stabilization in the Nasdaq and a pullback in the VIX would mean external pressure is easing, but as long as the stock market selloff continues, the risk of further deleveraging in crypto markets remains.
Sources: Number of Hedge Funds Liquidated Hits Highest Level Since 2009
Financial journalist Charles Gasparino posted on X that the sharp selloff in tech stocks has sparked market speculation that one or more hedge funds are in trouble. A CEO of a financial services company told him: "There are now more and more hedge funds being liquidated, a record number, the highest level since 2009. This is necessary and is setting up for a bottom, but more downward pressure still needs to be absorbed."
Key Data
US Stock Market Close: Nasdaq Plunges 5.5%, Magnificent Seven Lose $1 Trillion in Market Cap, AI Supply Chain Hit HardU.S. stocks suffered a sharp selloff on Thursday Eastern Time, with the Nasdaq Composite plunging 5.52% in a single day, its largest one-day drop in 19 months. The S&P 500 and Dow Jones Industrial Average fell in tandem, and all three major indexes posted their largest one-day declines since the "Liberation Day" tariff policy in April 2025. It is estimated that the market capitalization of S&P 500 constituents evaporated by about $2.9 trillion in a single day, Nasdaq constituents shrank by $2.5 trillion, and the Magnificent Seven tech giants collectively lost about $1.04 trillion. Among individual stocks, Nvidia fell 9.26%, AMD dropped more than 17%, and Tesla fell more than 9%. Data center and new cloud companies Applied Digital, Cipher Digital, and IREN all fell more than 14%; in the storage sector, SanDisk dropped more than 22%, Micron fell 17.46%, and SK Hynix fell more than 13%.
A certain address withdrew a cumulative 9,777 ETH from Binance to on-chain over 4 days, worth about $22.53 million
According to monitoring by on-chain analyst Yu Jin, an address withdrew a cumulative 9,777 ETH ($22.53 million) from Binance to on-chain over the past 4 days, at an average price of about $2,304.
Report: The same group has stolen about $4.16 million from 430 iPhone users' wallets since mid-October
According to a Bitquery research report, multiple iPhone users have had their wallets stolen since mid-October. The investigation shows that the same group, through a common fee wallet, stole at least 4.06 million USDT from 365 wallets on TRON, and drained another 65 wallets across eight chains including Ethereum and BNB Chain, with losses exceeding $103,000. The report states that after obtaining private keys, the attackers first transferred a small amount of TRX to victims as gas fees, and then transferred out all funds. There is currently no evidence that applications such as Trust Wallet themselves have vulnerabilities; the main risk is hacker tools on iPhones (such as DarkSword) stealing seed phrases. The report recommends updating iOS promptly and never storing seed phrases in phone photos or notes.
SanDisk (SNDK) stock fell as much as 10.09% intraday, currently at $936.77
According to Binance market data, SanDisk (SNDK) stock fell as much as 10.09% intraday, currently at $936.77.
Spot Bitcoin ETFs saw total net outflows of $430 million yesterday, with Fidelity FBTC leading with $200 million in net outflows
SoSoValue data shows that on November 5 Eastern Time, spot Bitcoin ETFs saw total net outflows of $430 million. Fidelity FBTC had the largest net outflows, with $200 million in single-day net outflows and $10.223 billion in historical cumulative net inflows; BlackRock IBIT followed, with $105 million in single-day net outflows and $65.504 billion in historical cumulative net inflows. As of press time, the total net asset value of spot Bitcoin ETFs was $96.647 billion, the ETF net asset ratio (market capitalization as a share of Bitcoin's total market capitalization) reached 6.31%, and historical cumulative net inflows were $56.111 billion.
A whale dormant for a year withdrew 1,286 BTC from Binance in the past 24 hours, worth about $98.11 million
According to Onchain Lens monitoring, a Bitcoin whale dormant for a year withdrew another 643 BTC (about $48.58 million) from Binance minutes ago, bringing its cumulative withdrawals in 24 hours to 1,286 BTC (about $98.11 million).
iOS exploit kit DarkSword has caused $5.57 million in losses to crypto users; Zhao Changpeng calls for timely system updates
Multiple security researchers and KOLs have warned that the iOS exploit kit DarkSword is posing a serious threat to crypto users. The tool exploits underlying flaws in iOS 18. Users only need to open an infected website through Safari, and malicious code can run in the phone's background without connecting a wallet or performing any signature authorization. Attackers can use it to steal passwords, photos, files, as well as crypto wallet private keys and seed phrases. At least 18 malicious websites have been discovered so far, causing victims to lose as much as $5.57 million across more than 20 wallets. Zhao Changpeng commented on this, saying that the iOS system should be updated, especially if it has not been updated for some time; no wallet software can update the operating system for you, and self-custody means self-responsibility.
A whale that subscribed to 1 million ETH in the 2015 ICO bought the dip with 2,221 ETH, worth about $4.99 million
According to monitoring by on-chain analyst Ai Yi, an ancient whale that subscribed to 1 million ETH in the 2015 ICO bought 2,221 ETH (about $4.99 million) on-chain over the past 8 hours, at an average price of $2,248. The entity currently holds more than 122,000 ETH on-chain, worth more than $272 million.
A trader with a 100% win rate opened a long position of 20,300 ETH, already up $252,000 in unrealized profit
According to Lookonchain monitoring, a smart trader with a 100% win rate once again went long on ETH, opening a long position of 20,277 ETH ($45.3 million) with 25x leverage after the market decline, and is already up $252,000 in unrealized profit. All of their previous 10 trades were profitable, with realized profits of $6.32 million.
AI tech stock crash hits Wall Street, hedge funds suffer huge losses and closures
According to Wall Street See, the tech stock crash has triggered a chain reaction in the hedge fund industry. Business Insider said that $17 billion Walleye Capital announced it was cutting its core equity long-short team, returning some investor capital, and restructuring its business. It lost 5.9% in October, its worst month since March 2020, and is down 6.8% year to date. Goldman Sachs data shows that hedge funds net sold about $20 billion of tech stocks in two weeks, erasing in just five trading days the net long AI stock positions accumulated since the beginning of 2025. Engineers Gate cut most of its Synthesis equity team, losing 5.5% in October through the 23rd. Bloomberg reported that Millennium's flagship fund fell 2.3% in October, while Marshall Wace's Eureka fell 5.4%.
A recursive lending whale panic-sold 288.1 cbBTC in recent days, then bought back 203.6 cbBTC at a higher price
According to monitoring by on-chain analyst Yu Jin, recursive lending whale 0xc79b panic-sold 288.1 cbBTC ($22.35 million) at $77,592 after the Binance hack, and BTC subsequently rebounded to $81,200. During last night's decline, it bought back 203.6 cbBTC ($15.85 million) at $77,804, still slightly above its previous panic-sale price.
Huang Licheng liquidated again; the $223,000 raised from selling NFTs was quickly depleted
According to Lookonchain monitoring, Huang Licheng (@machibigbrother) was liquidated again. He raised $223,000 by selling 15 NFTs (losing $505,000 over the past 4 days), and the funds were quickly liquidated. He is currently down $909,000 on papertrade_xyz and down $37.4 million on Hyperliquid.
Tesla and SpaceX fell 10% and 7%, respectively
DAI.e on Avalanche deviated from its $1 peg, rising to about $1.10
Blockaid posted on X that it detected that DAI.e (Avalanche Bridge) on Avalanche deviated from its $1 peg, repricing to about $1.10 in active DEX pools on Avalanche, a 10% increase from the $1 peg.