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How has @binance handled major security incidents over the past nine years?
Following today’s hot-wallet hack, Binance estimates the impact at ~$6.3B, says ~$3B has been frozen, and has pledged to cover all losses with SAFU and company funds.
We reviewed seven major incidents involving Binance and related platforms. Responses varied, but four measures kept coming up:
1️⃣ Contain: suspend affected services to limit further damage
2️⃣ Recover: reverse irregular trades where possible and coordinate asset freezes
3️⃣ Compensate: commit to covering affected users through SAFU or company funds
4️⃣ Repair and investigate: fix vulnerabilities, tighten controls and pursue the attackers
The clearest precedent is the 2019 hot-wallet hack: about $40.7M stolen, fully covered by SAFU.
Today’s estimated impact is roughly 155 times larger. SAFU’s 15,000 BTC is worth about $1.17B at $78K per BTC, and how much Binance ultimately has to fund will depend on how much is recovered.
Frozen funds aren’t returned funds yet, and there’s still a long way to go. But within an hour, stablecoin issuers, L2s and rival exchanges moved together to freeze assets and offer help.
That gives us real reason for optimism, for Binance users and for the industry.
Where do people trade each stock perp? 👀
Last week, for every $100 traded:
- Korea 3× ETF ($KORU) perps: $68 on @binance
- $SNDK perps: $26 on @okx
- @nvidia perps: $24 on @HyperliquidX
- Strategy ($MSTR) perps: $15 on @bitget
- Silver perps: $14 on @MEXC , $16 on @Gate
- Gold perps: $13 on @BingXOfficial
. ethereum:0x6982508145454ce325ddbe47a25d4ec3d2311933 is up 13% in 24h, the same day @arkham data named @justinsuntron its largest individual holder. @pepecoineth
Wallets Arkham links to Sun hold $51.25M in PEPE, about 3% of supply, up from roughly $267K in mid-October.
Most of it came from two Poloniex withdrawals on Oct. 17 and Oct. 26.
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. solana:DvjbEsdca43oQcw2h3HW1CT7N3x5vRcr3QrvTUHnXvgV is up 99.3% in 24h, the Solana token of NFT brand @doodles.
Doodles airdropped 30% of DOOD's 10B supply to its NFT holders at launch in May 2025.
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.@Barclays, @HSBC and Lloyds have already completed live customer payments on rails Quant built. Where does ethereum:0x4a220e6096b25eadb88358cb44068a3248254675 fit in? 🤔
@quantnetwork
✨ Rating: BB
🌟 Outlook: Positive
We've raised the outlook from Stable to Positive on delivered work and a dated plan.
The UK payments went live in September, and The Clearing House has selected Quant to build its tokenised-deposit network, which is expected to open to participating banks in H1 2027.
Token Economics is the highest-scoring dimension at 74.73. Supply is capped at 14.6M and about 99.6% of it already circulates, so there is no vesting schedule left to absorb.
What keeps the grade at BB is how directly bank usage reaches the token.
Quant's FAQ lets clients pay the platform fee in USD or with QNT, and Fusion staking, the most direct token link, has no published terms yet.
The next two checkpoints are Fusion staking terms and the first named banks on The Clearing House network. Which do you expect to land first? 👀
TradFi perp volume on crypto exchanges picked up last week. Weekend volume reached $17.3B, up 130% from the weekend before.
Volume growth at the four largest exchanges 👀:
@bitget +72%
@HyperliquidX +67%
@okx +52%
@binance +44%
. $CRV is down 8.94% in 24h. On Oct. 22, @CurveFinance opened DAO vote 1508 to turn the YieldBasis crvUSD/WETH pool into a permissionless propAMM priced off Pyth Pro ETH/USD.
veCRV holders vote at full weight until Oct. 25; voting power decays to zero by the Oct. 29 close.
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Solid Q3 read on X Layer from @PrincipiaLabs_. Exchange OS is the most important development — it moves OKX’s matching/margin/liquidation stack onchain and repositions OKB’s value accrual around market launch rights rather than gas.
. injective-protocol:native is down 9.0% in 24h. Injective's monthly Community BuyBack opened Oct. 21; holders commit INJ, which is burned when the round closes. @injective
This round is set to burn up to $251,000 in INJ, per the team's Oct. 21 post.
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TI Insight 📊
Does buying bitcoin:native actually reduce your AI risk? It depends on what breaks the AI trade.
The usual playbook for cutting AI risk has three parts, and each does a different job:
1️⃣ Equal-weight index funds: you’re less reliant on a few giant tech stocks, but you’re still in the stock market.
2️⃣ Short-term T-bills: you earn ~4% interest while your cash stays ready to use.
3️⃣ Long-term bonds: riskier than they look. If rising rates are what’s hurting AI stocks, these get hurt too.
Bitcoin needs its own thesis, because upside potential is not downside protection.
Since 2021, BTC fell on 85 of Nasdaq’s 107 worst days (−2% or more), including 38 of 46 during the 2022 rate-hike selloff. But in the April 2025 tariff shock, it rose on 4 of 6.
If AI sells off on rates or liquidity, BTC has tended to fall with it, so it’s the same risk in a different wrapper. If AI sells off on payoff disappointment while liquidity holds, BTC has room to decouple.
So BTC can be a good bet on its own, but don’t count on it to cushion an AI selloff.
. ethereum:0xc477b6dfd26ec2460b3b92de18837fd476ea7549 is up 140% in 24h on $15.4M volume. Janction runs a DePIN marketplace for renting AI compute. @JANCTION_Global
A 1.18B JCT unlock follows on Nov. 10, about 10% of circulating supply.
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. ethereum:0x6c5ba91642f10282b576d91922ae6448c9d52f4e is up 31.7% in 24h, a day after Phala published a post-mortem on an Oct. 8-12 exploit of its dstack guest agent. @PhalaNetwork
The report says no enclave or KMS keys were accessed. The fix shipped Oct. 13; unpatched CVMs get auto-upgraded from Nov. 20.
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. near:native is up 124% over the past year while bitcoin:native is down 24%, and all of that gain came after a February low of $0.96. Since then, NEAR has traded more like a privacy token, with its daily moves tracking ZEC more closely than BTC.
There is a reason for that link. NEAR is becoming the rail for privacy-focused capital flows. @Zcash's Zashi wallet has routed shielded zcash:native swaps through NEAR Intents since October 2025, Confidential Intents went live in March, and more than $2.6B of ZEC has now settled through NEAR.
@NEARProtocol:
✨ Rating: A
🌟 Outlook: Positive
What earns the grade 👀:
1️⃣ Intents settled $4.80B in September, its biggest month on record and almost 10x a year earlier.
2️⃣ NEAR accounts already accept post-quantum ML-DSA keys, live since the July upgrade with no asset migration.
3️⃣ The protocol ships an upgrade every month or two, running 600ms blocks across 9 shards.
The open test is whether that flow reaches the token. Since the Intents fee switch went live on Feb 23, about 4.0M NEAR has been routed into revenue and buyback wallets, while net supply grew by 20.7M NEAR.
A proposal to ramp issuance from 2.5% to 1.6% would narrow that gap, but it is still a draft and has not reached a House of Stake vote.
Which closes the gap first: fees growing into issuance, or the 1.6% ramp passing?
More info 👉: tokeninsight.com/en/coins/ne…
TradFi futures trading slowed this week, but price moves stood out. Volume fell even as market share rose, more assets posted double-digit weekly moves, and some gains may have reflected short covering.
1️⃣Lower volume, higher market share. Under this edition’s methodology, weekly #TradFi futures volume totaled $139.19B, down 8.4%, or $12.73B, from the previous week. Yet its share of total volume across the markets covered rose from 14.06% to 14.50%.
2️⃣ Trading cooled, but prices kept moving. Among TradFi perps, the median weekly return fell from −0.2% to −1.8%. Meanwhile, the number of assets gaining or losing more than 10% rose from 15 to 22.
3️⃣ Of the 20 assets tracked, seven rose while open interest fell. We see this as consistent with short covering, as traders buying back contracts to close short positions can lift prices, though price and OI alone cannot confirm it.
$SPCX showed a different pattern: its price fell 4.5% while OI rose 33%, meaning outstanding positions grew as the price declined.
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