Binance News

Microsoft shares rose 6% in after-hours trading on Wednesday after the software maker reported results that exceeded analyst expectations. According to Sina Finance, adjusted earnings per share were $4.89, versus $4.73 expected, and revenue was $92.28 billion, compared with $90.69 billion expected. The company said revenue grew 19% year over year in the quarter ended September 30.
Microsoft's capital expenditures and finance lease value totaled $45.2 billion for the quarter, up about 30%; analysts surveyed by StreetAccount had expected $50.67 billion. Microsoft disclosed Azure cloud revenue in dollars in an earnings statement for the first time, reporting $33.17 billion, up 48%. StreetAccount-surveyed analysts had expected $32.32 billion, or growth of more than 44%. Azure's growth rate was 42% in the June quarter.
Microsoft reported results across two operating segments for the first time since 1998. For the previous 11 years, it had reported three segments covering Azure, Office and Windows.

Bitcoin News said on X that Bitcoin Core had identified three vulnerabilities, including one that could allow an attacker to remotely crash a node. According to Odaily, the memory-exhaustion attack affects nodes running Windows, macOS, or BSD, but not Linux; another flaw can gradually deplete node memory, while a third could corrupt blockchain undo data.

The Fed held rates at 3.75% to 4.00% on Wednesday as Chair Kevin Warsh said it will begin shrinking its rate-setting calendar in 2027. Only seven of eight meetings in 2027 and six of eight in 2028 are expected to set rates, according to BeInCrypto. Strategy-only meetings would have no policy statement or rate vote and are intended to give FOMC members room to debate long-term issues. The hold drew a 10-2 vote, with Lisa Cook and another official dissenting in favor of a hike. Warsh said first-half growth estimates rose to 2.4% from 1.8%, while inflation has topped target for nearly six years; new data will inform the December rate decision. Fewer scheduled decisions could leave Bitcoin and other rate-sensitive assets with fewer catalysts.

On Oct 29, 2026, 01:49 AM(UTC). According to Binance Market Data, BNB has dropped below 750 USDT and is now trading at 747.909973 USDT, with a narrowed narrowed 0.28% increase in 24 hours.

Google will preview Google Multi-Party Compute (MPC), a custody security service that splits private-key control across environments and checks transactions against institutional rules amid rising AI-related cyber threats. The product is in private preview, with commercial availability planned for early 2027, according to CoinDesk. Google will showcase it at its digital assets symposium in New York City on Wednesday. Several financial institutions are testing the service, and Alphabet is using it to secure digital assets on Ethereum and Solana. Current protections target compromised credentials and unauthorized transfers; Google says the system can support future upgrades to post-quantum cryptography.

Hyperliquid has permanently burned 49.87 million HYPE, equal to 4.99% of its maximum supply of 1 billion tokens. According to Odaily, Onchain Lens reported that 19,700 HYPE were burned over the past 24 hours; projected fee revenue for that period was $1.69 million, and cumulative revenue was $1.38 billion.

According to the announcement from Binance, users who hold Predict Points (PP Points) may prepare to claim their Predict (PREDICT) airdrop allocation. PP Points are earned on the Predict platform through trading, providing effective liquidity, holding positions and early participation in markets. Users can view points in Binance under Assets - Prediction Account, or in Binance Wallet under Discover - dApp - Predict - Assets. Eligible users must submit a form by 2026-11-26 09:00 (UTC) to select a claim option. Each user may submit it once, and submissions cannot be changed. If no option is selected by the deadline, Option B applies by default. Under Option A, users receive 35% of their allocation and forfeit the remaining 65%. To receive tokens on the day PREDICT goes live, users must select this option by 2026-10-29 09:00 (UTC). Later submissions are assigned to weekly release batches on 2026-11-06, 2026-11-13, 2026-11-20 and 2026-11-27, with each cutoff at 09:00 (UTC) on the preceding day. Option B provides 100% of the allocation after the token project completes one year of staking. Tokens will be credited to a Binance Alpha account for points held through the Binance account path, or to Binance Wallet for points held through the wallet path.

US spot Solana (SOL) ETFs recorded $19.16 million in outflows on Tuesday, October 27, their largest daily withdrawal since December 3, 2025, while SOL traded at $101.87, less than $2 above $100. October outflows reached $99.62 million and the funds lost $27.38 million this week, according to BeInCrypto. Total net assets fell to $1.54 billion from $1.96 billion on September 25. A daily close below the $100 neckline would confirm the head-and-shoulders pattern and put $80 in play; MCO Global Research said a new low would add evidence for further downside.

Strategy shareholders approved changes allowing the company’s four preferred stocks to pay dividends every business day, with 99.3% of votes cast supporting the amendments, according to preliminary results released Wednesday. According to Cointelegraph, the changes apply to STRF, STRC, STRK and STRD, replacing semi-monthly or quarterly payment schedules while leaving annual dividend rates unchanged. Dividends will accrue daily, including on weekends and holidays. Strategy expects daily payments for STRC to begin Nov. 2, followed by STRF, STRK and STRD on Jan. 4, 2027. The company said the revised schedules are intended to reduce the time between dividends accruing and investors receiving cash, while supporting liquidity and price stability in the preferred shares. The securities offer annual dividend rates ranging from 8% to 12%; STRC’s variable rate is currently 12%, while the other three have fixed rates. STRK also gives investors the option to convert their holdings into Strategy common stock. Bitcoin treasury company Strive introduced daily cash dividends for its SATA preferred stock in June and later launched SATS, which carries a fixed 15% annual dividend rate, with daily payments scheduled to begin Nov. 9, subject to declaration. Strive closed a $630 million SATS offering on Oct. 20, selling 7 million shares at $90 each. It said proceeds could support Bitcoin purchases and other corporate purposes but has not disclosed how much would go toward cryptocurrency. Strategy holds 848,517 BTC and remains the largest publicly traded corporate Bitcoin holder, while Strive ranks fourth with 43,000 BTC, according to BitcoinTreasuries.net data.

Moody’s assigned Ripple-issued stablecoin RLUSD an A2 long-term deposit rating and a P-1 short-term deposit rating, covering native RLUSD issued on the XRP Ledger and Ethereum. According to ChainCatcher, the assessment considered RLUSD’s reserve arrangements and holders’ exposure to issuer bankruptcy.

Hong Kong-regulated tokenized gold XAUa has launched on Sui. According to Odaily, AlphaToken issued the token under Sui’s Permissioned Asset Standard (PAS), while TBook handles distribution to on-chain users. Each XAUa is backed by physical gold stored in Hong Kong, and eligibility requirements apply to purchasing and holding the token.
PAS allows issuers to encode compliance rules in policies. Each transfer must pass validation before settlement; transfers that fail are rejected, and balances remain unchanged. TBook has migrated and rebuilt its treasury issuance platform on PAS, allowing future real-world asset issuers to issue treasuries on Sui with similar compliance controls.

Solidus Labs said a trader placed more than $170 million in unusual orders through two Hyperliquid accounts from March 8 to 10, during sharp moves in international oil prices, and made about $119,000. According to Odaily, the trader allegedly placed large orders on one side of the order book, quickly canceled them and traded on the other side. The trader’s identity and intent to manipulate the market have not been confirmed.
In one instance, the trader reportedly canceled about $17 million in sell orders while executing about $425,000 in buy orders; the Brent crude perpetual contract price moved noticeably around the cancellations. Hyperliquid Labs said order, cancellation and trade records are publicly available on-chain for real-time review. Trade.xyz, the contract issuer, said the platform has order limits and ongoing monitoring mechanisms.

U.S. President Donald Trump said he gave Flávio Bolsonaro a “pass” to enter the United States. According to Sina Finance, Trump told reporters at Joint Base Andrews that Brazil’s presidential election was “very strange.” He said he had not spoken with Bolsonaro. Bolsonaro arrived in the United States after losing the election, and his route reportedly went through Argentina and Ecuador.

South Korean crypto exchange Prabang has suspended service after a hacking incident that caused an estimated loss of 100 million won. According to Odaily, Prabang reported on October 26 that it had detected external unauthorized access and filed a report with relevant authorities. The exchange said it discovered abnormal withdrawals from its hot wallet on October 24, identified a security vulnerability during its response, and would fully compensate customers with company funds after confirming the losses.

On Oct 29, 2026, 02:00 AM(UTC). According to Binance Market Data, Bitcoin has dropped below 80,000 USDT and is now trading at 79,910.226563 USDT, with a narrowed 1.29% decrease in 24 hours.

The CryptoBilis attacker deposited 1,200 ETH into Tornado Cash again on October 27, 18 days after a large-scale wallet theft. According to ChainCatcher, citing monitoring by Salus, the attacker used wallet 0x468b…2a4e to send 600.1 ETH to each of two new wallets, which then made 12 deposits of 100 ETH each between 14:24:59 and 14:27:23 UTC.
Ledger confirmed on October 11 that an unauthorized hardware implant was found in a victim’s device. The October 9 theft affected users who bought Ledger devices through Southeast Asian reseller CryptoBilis; Bitquery estimated losses across multiple blockchains at about $102 million.

Ripple expects to exit 2026 at a $900 million annualized product revenue run rate, amid growth in payments, custody, stablecoin, prime brokerage and treasury. Multi-product customers and partners tripled this year; payments lifetime volume is expected to near $150 billion by year-end, while RLUSD's market cap is $2.6 billion, according to The Block. On Monday, Ripple received final OCC approval for a national trust bank and expanded BNY tokenized trade-finance work on XRP Ledger. Aviva Investors launched a tokenized fund share class; Brevan Howard added prime brokerage. XRP is down nearly 30% this year; XRP ETF assets were around $1.5 billion as of Oct. 26.

A Bloomberg report says Solana is trying to shift its growth model from meme coins and speculative trading toward mainstream financial applications, including stablecoins and tokenized assets, to attract Wall Street institutions. According to ChainCatcher, JPMorgan, Morgan Stanley, Standard Chartered, Visa and Fiserv are among the financial institutions and payment networks already conducting related business on Solana.
The shift comes as a subdued crypto market and the rise of competitors such as Hyperliquid challenge Solana’s growth model. SOL is down nearly 20% year to date, while U.S.-listed spot and staking SOL ETFs recorded outflows for two consecutive weeks this month, totaling about $50 million. Solana’s share of on-chain perpetual futures trading volume has fallen from 17% to 6%.

Microsoft reported $10 billion in revenue from its commercial arrangements with OpenAI for the three months ended September 30. According to ChainCatcher, the report identified Microsoft as MSFT.O.

The Federal Reserve held rates with a hawkish edge, according to Bloomberg.
The Close lineup included DWS Americas CEO Hepsen Uzcan, Stony Brook University professor Stephanie Kelton, VF Corp. CEO Bracken Darrell, Jersey Mike’s CEO Charlie Morrison, DoubleLine Capital portfolio manager Ken Shinoda, DA Davidson tech research head Gil Luria, Ford CFO Sherry House, Rosenblatt Securities senior research analyst Scott Devitt and Allspring Global Investments senior portfolio analyst Abby Roach.

Thailand's Supreme Court recently ruled in criminal case No. 4929/2569 that Bitcoin qualifies as property under the law because it has market value, can be held and traded, and can be exchanged for cash when a buyer is available. According to Odaily, the case involved a victim who exchanged $50,000 for Bitcoin and transferred it to a criminal group; the court said the Bitcoin was not valueless intangible data but property that could be the subject of a property crime. The ruling recognized Bitcoin as property protected by law and potentially subject to criminal acts, but did not grant it the same legal tender status as the Thai baht.

Aave has adjusted the variable borrowing rate curve for USDT in its Ethereum market, causing borrowing costs to rise earlier as pool liquidity tightens. According to ChainCatcher, interest already accrued on existing debt remains unchanged, while the new rate affects only how quickly debt balances grow going forward.

According to the announcement from Binance, the exchange will hold a Spot Trading Tournament from 2026-10-28 10:00 (UTC) to 2026-11-04 10:00 (UTC), offering eligible participants a share of up to 400 BNB in token vouchers. Trading volume in XRP/USDC and USUAL/USDT will count toward rankings, and participants must reach at least 500 USD equivalent in eligible trading volume to qualify. Verified new and regular users, as well as Binance VIP 1–6 users, may participate; Binance Spot liquidity providers and Binance Brokers are excluded. Main tournament rewards will be allocated according to cumulative trading volume, with awards for ranked participants and a proportional pool for eligible users ranked below 1,000th place. The proportional reward is capped at 0.05 BNB per user. Binance will also provide Sprint Rewards in two statistical periods: 2026-10-28 10:00 (UTC) to 2026-10-30 10:00 (UTC), and 2026-10-30 10:01 (UTC) to 2026-11-01 10:00 (UTC). In each round, the top five participants will receive vouchers ranging from 12 BNB for first place to 4 BNB for fifth place. Participants may earn from both reward pools. Vouchers are scheduled for distribution by 2026-11-18 and will expire within 21 days after distribution.

Bitcoin Core has released version 32.1, which includes new features, bug fixes and performance improvements. According to Foresight News, updates include proof-of-work defenses for Tor hidden services, a global-backlog approach to transaction relay rate limiting to reduce memory and CPU use during periods of high transaction volume, fixes and restrictions related to private broadcasts, and an increase in the default maximum number of automatic peer connections from 125 to 200.

Robinhood CEO Vlad Tenev said the company plans to significantly increase investment in the Robinhood Chain developer ecosystem and community support, and has begun forming a dedicated team. According to ChainCatcher, Tenev made the remarks during this morning’s third-quarter earnings call.
Tenev said Robinhood aims to make Robinhood Chain the best place to hold and trade tokenized assets, starting with stock tokens and perpetual futures before expanding further. He said developers had asked the company to do more to support the community, and that Robinhood intends to build what it considers the best developer ecosystem and on-chain community globally. Tenev added that the rapid growth of emerging ecosystems like this is rare and said developers would see more support in the near future.

As the oil market swung wildly in early March, a trader appeared to try to influence prices using crypto derivatives on Hyperliquid. According to Bloomberg, the activity showed how the trading platform is moving into Wall Street’s territory, sometimes in unwelcome ways.

Shares of bitcoin treasury company Datavault AI (DVLT) fell 49.55% to close at $0.067 on Tuesday, October 27, after a regulatory filing revealed it had been unable to withdraw bitcoin from crypto exchange Biconomy since June and would restate its financial results. About 244 million shares changed hands.A Bitcoin-Funded Share SaleThe problem dates to a September 2025 agreement under which Scilex Holding Company agreed to buy $150 million of Datavault shares and warrants using bitcoin. Scilex credited 1,309.04 BTC to Datavault’s account at Biconomy through off-chain transfers, meaning balances changed within the exchange rather than on the Bitcoin blockchain. Datavault later sold 491.4 BTC back to Scilex for about $40.5 million in cash. When Datavault asked to withdraw its bitcoin to an external account in June, the transfer could not be completed, and it remained incomplete as of Monday’s filing.Biconomy on Both SidesBiconomy also supplied the bitcoin behind the investment. Scilex’s June financial report says it sold $200 million of shares in its subsidiary Semnur to Biconomy for bitcoin, then used $150 million of that to buy Datavault securities.$92 Million Removed From Reported AssetsDatavault now says the bitcoin credited through Scilex’s investment should have been recorded as an amount Scilex owed for its shares, reducing shareholders’ equity, rather than as a cryptocurrency asset. The correction will reduce reported assets by $92.2 million at the end of 2025 and $49 million as of June 2026. Datavault had counted the bitcoin balances as funds available to run the business and must now revisit that assessment. Biconomy did not respond to CoinDesk’s request for comment.

According to Jin10, the Federal Reserve held rates steady as expected, while spot gold rose slightly by $7 in the short term to $4,043 per ounce.

According to the announcement from Binance, Binance Futures will update its trading fee promotion for all TradFi perpetual contracts beginning 2026-11-05 08:00 (UTC). The promotion will remain in effect until further notice. Regular users through VIP 9 will pay 0.0000% maker fees when trading TradFi Perps. Regular users through VIP 3 will receive a 20% discount on taker fees, while VIP 4 through VIP 9 users will receive a 40% discount, compared with the standard USDT taker fee rate. Under the promotional schedule, taker fees are 0.0400% for regular users and VIP 1, 0.0320% for VIP 2, 0.0256% for VIP 3, 0.0180% for VIP 4, 0.0162% for VIP 5, 0.0150% for VIP 6, 0.0132% for VIP 7, 0.0120% for VIP 8, and 0.0102% for VIP 9. Users paying fees with BNB receive an additional 10% discount on taker fees. With that discount, the respective taker rates are 0.0360% for regular users and VIP 1, 0.0288% for VIP 2, 0.0230% for VIP 3, 0.0162% for VIP 4, 0.0146% for VIP 5, 0.0135% for VIP 6, 0.0119% for VIP 7, 0.0108% for VIP 8, and 0.0092% for VIP 9.

A whale holding AAVE and WLD deposited 152,000 AAVE and 45.17 million WLD across multiple exchanges over the past five days. According to Foresight News, Lookonchain tracked the deposits.

The Federal Open Market Committee said the unemployment rate had changed little. According to ChainCatcher, the assessment appeared in the committee’s statement.

Crypto wallet provider Phantom has launched prediction markets for eligible US users through an integration with Kalshi, enabling users to trade on crypto prices, sports and other real-world events within the app. According to Cointelegraph, the Wednesday announcement said the service includes CFTC-regulated event contracts, including short-term Bitcoin price markets that settle every 15 minutes. Users can fund trades with balances in Phantom Cash, which are denominated in the CASH stablecoin. Kalshi is responsible for customer verification, account management and trade execution, while Phantom provides access through its wallet app. The service is rolling out in a new Predict tab, with availability varying by state and market category. Eligible users can view live market data, sports scores and market discussions before placing trades through an interface designed to resemble a cryptocurrency token swap. The launch follows no-action relief granted by the Commodity Futures Trading Commission in March. That relief allows Phantom to connect users to regulated markets without registering as an introducing broker, subject to certain conditions.
Phantom’s move into prediction markets comes as Kalshi faces legal challenges in the United States. On Monday, the Commodity Futures Trading Commission sued Utah after the state challenged Kalshi’s event contracts under its gambling laws. The case adds to disputes over whether federal derivatives regulation takes precedence over state gambling laws, an issue at the center of legal challenges involving prediction markets. Trading activity has continued to rise amid that uncertainty. Kalshi recorded $10.8 billion in crypto contract volume during the 30 days ending Oct. 27, a 19.6% increase from the previous period, according to data compiled by DeFi Rate. The reported period ran from Sept. 28 to Oct. 27, 2026. The volume figures relate to Kalshi’s crypto contracts, while Phantom’s new service offers access to a broader set of event categories, including sports and real-world events. The launch combines Phantom’s in-app access with Kalshi’s handling of verification, accounts and execution, while users’ eligibility and the markets available to them depend on their state and market category.

Bitcoin closed below $83,000 for a second straight week, reinforcing analyst Benjamin Cowen’s view that the move was a fake-out. Cowen fears Bitcoin could follow silver’s 73% collapse over four years after its 2011 peak, according to BeInCrypto. He says Bitcoin could next test the $72,000-$76,000 bull-market support band; a weekly close above roughly $84,000 would weaken his bearish thesis. Charles Edwards, founder of Capriole Investments, said Bitcoin’s put/call ratio reached 1.46, a level he associates with locally capped downside, while noting there are no guarantees.

Starknet said on X that Shadow Accounts let users interact with public DeFi through separate addresses they control while keeping the link to their main wallets private. According to Odaily, the feature is designed to keep that association confidential.

Hyperliquid has narrowed the scope of its operation-priority downgrade rule and delayed its effective date until after another mainnet upgrade. According to Odaily, the rule will affect only the main account and the subaccounts or vaults involved in the operation, rather than all subaccounts and vaults. The delay is intended to allow more time for user feedback and adjustments. After the next network upgrade, HyperEVM error responses will include the specific L1 error instead of returning the generic error code 10055.

Singapore police said at least two cases involving tampered Ledger hardware wallets have been reported since Sept. 10, with combined losses of about 3.5 million Singapore dollars ($2.7 million). According to Cointelegraph, the reports came almost a month before the incident became public more widely. In an advisory published Wednesday, the Singapore Police Force said preliminary investigations found malicious hardware components in Ledger wallets bought from some retail stores in Singapore. The incident surfaced publicly on Oct. 9, following reports of losses involving devices sold through CryptoBilis, an authorized Ledger reseller in Indonesia, Malaysia and the Philippines. Days later, former Mt. Gox CEO Mark Karpelès said a Ledger Flex he bought at Singapore’s airport contained a spy implant. Another Ledger user said a tampered device he purchased from local IT retailer Challenger was later replaced with a new device sent by Ledger. On Oct. 13, Ledger said it had asked retailers in Indonesia, Singapore, Thailand, the Philippines, Vietnam, Malaysia and Hong Kong to suspend sales of its devices while investigations continued. Singapore police said they are in contact with Ledger, which is reviewing the affected cases, as police investigations remain ongoing.

According to Jin10, Alphabet (GOOG.O) shares fell sharply after the company reported disappointing third-quarter results, dropping more than 10% at one point after hours. The decline has left the final major stock investment made during Warren Buffett’s tenure as Berkshire Hathaway chairman performing poorly.
Berkshire bought Alphabet shares heavily in the first half of 2026. In early June, it participated in Alphabet’s $85 billion share offering, purchasing $10 billion worth of shares at about $350 each. Buffett said in July that the decision to buy Alphabet shares was his own.
Berkshire’s average cost is unknown but is likely above $300 per share and may have been close to $320. As of June 30, Berkshire held 106 million Alphabet shares, worth about $30 billion based on the after-hours share price, down from a June peak of $37 billion. Alphabet is Berkshire’s fourth-largest stock holding, behind Apple, American Express, and Coca-Cola.

Visa reported annualized stablecoin settlement volume of more than $25 billion, up tenfold year over year, during its fiscal fourth-quarter 2026 earnings call. According to PANews, Visa supports 10 blockchains and operates in all five regions, with its stablecoin platform available in the United States, Mexico, Puerto Rico, Colombia, Switzerland, and the United Kingdom. The company has more than 300 partners in its pipeline.
Open USD launched on September 30, and its circulating supply exceeded $800 million as of October 15. Visa also has more than 225 stablecoin-linked card programs, up more than 70% year over year; transaction volume grew by more than 150%. The programs cover 5 million cards across more than 50 countries.

Bitcoin climbed back above $81,000 on Wednesday, October 28, rising about 2.3% over 24 hours to roughly $81,400 as a rally in Asian chip stocks spilled into crypto ahead of the Federal Reserve’s rate decision. Every major token traded higher, a sharp turn from Monday, when bitcoin slipped below $80,000 for the first time in more than a week.HYPE and ZEC Lead the MajorsHYPE led the majors, jumping nearly 6% to just above $81, and ZEC rose 5% to about $1,300, according to CoinDesk data. DOGE gained 4%, BNB and SOL rose about 3% each, with BNB just under $760 and SOL above $102, and XRP added 3% to $1.32. Ether climbed 2% to about $2,360, while TRX lagged with a gain of about 1%. Pepe jumped 9.4% to top the CoinDesk 100, as Arkham Intelligence reported that wallets it links to Tron founder Justin Sun hold about $51 million of the token. CoinMarketCap’s Altcoin Season index rose to 60 from 57.Chip Stocks ReboundSouth Korea’s Kospi jumped 6.6% as SK Hynix surged about 11% after reporting record quarterly results, and Nasdaq-100 futures rose 0.5%. Alphabet and Microsoft report earnings after the US close.ETF Inflows Nearly Erase October’s DeficitUS spot bitcoin ETFs took in $176 million on Tuesday, their second straight day of inflows. That brings October’s net flows close to flat after a $774 million two-day exit last week.Leverage Stays ContainedCrypto futures volume rose 7.5% to $163.2 billion while open interest rose only 1.3%, suggesting traders added little new exposure. Funding was mild at 0.0090% for bitcoin and 0.0079% for ether, close to the 0.01% baseline. On Deribit, bitcoin’s one-week put-call skew fell below 1% from nearly 10% a week ago, a sign demand for short-term downside protection is easing, though longer-dated skews still favor puts.Warsh Takes the StageThe Fed announces its decision at 18:00 UTC, with CME FedWatch showing about a 92% chance rates stay at 3.75%–4.00%. Traders will watch Chair Kevin Warsh’s press conference for any signal of a December hike. Monday showed how quickly the market sells when hike talk picks up.

Osmosis has approved a governance proposal to restore full reserve backing for allBTC using frozen attacker assets and community funds. According to ChainCatcher, the shortfall followed an incident on June 25, when the Nomic bridge minted 40.650602 nBTC without Bitcoin reserves; 39.839746 nBTC was counted as allBTC collateral, reducing its backing ratio to 63.97%. After Nomic halted operations on September 7, Osmosis validators froze 22.650608 allBTC held by the attacker through an emergency upgrade.
Under the proposal, the frozen assets will be transferred to the liquidity subDAO. Osmosis will also use 12.4838 allBTC from the community pool and about 4.7 BTC freed by canceling a planned USDC liquidity deployment to cover a shortfall of about 39.84 BTC. A future v32 software upgrade will mark the tainted nBTC as invalid, remove it from the allBTC alloy, and burn it, restoring full backing for allBTC holders.
About 18 BTC has already been moved off Osmosis and laundered through Tornado Cash, making it unrecoverable directly. Osmosis said it will continue tracking the remaining funds and restore allBTC deposits and withdrawals once the allBTC balance is cleared and nBTC is removed from the alloy.