🌅 Good morning, Sunday. Today's main focus is still the latest developments in the Binance incident's aftermath. Markets are stabilizing slightly, while the Fear and Greed Index remains at 30.
**Markets**
- BTC around $77,500 (about +0.9%): holding steady above the $76,700 low
- ETH around $2,256 (about +0.5%)
- XRP around $1.25 (about -0.4%)
- SOL around $95.5 (about -0.9%)
- BNB around $704 (about -0.1%): the event's main focus, with the price barely moving
- Sentiment: Fear and Greed Index around 30 (Fear)
**Major developments**
- Binance reaches 90% reimbursement progress: reportedly has reimbursed 90% of the approximately $6.3 billion stolen (using company treasury funds, the futures insurance fund, and some SAFU funds, with over $6.34 billion set aside); ten of its largest holdings by volume, including BTC, ETH, USDT, BNB, SOL, USDC, and XRP, are said to be 100% fully backed. The remaining 10% consists of smaller, illiquid tokens
- Withdrawals: The target is to resume today, but not fully—reopening will be phased, coin by coin, and subject to passing security checks. For now, we can only say it is "expected"; it’s not yet confirmed which coins have actually resumed withdrawals.
- Proof of Reserves: A new snapshot has been taken (October 31, 00:00 UTC; coverage reportedly ≥100%). The complete proof, which can be independently verified, is expected on November 3—not Monday, as first reported.
- Fund flows remain weak: U.S. spot BTC ETFs saw about $643 million in net outflows on October 30, and total liquidations across the crypto market reached about $1.5 billion over 24 hours.
- Ripple unlocks 1 billion XRP today. Historically, about 70% has been relocked, so let’s wait and see.
**Policy**
- Platforms including KuCoin have suspended services to Russia and Belarus as of October 29, as sanctions compliance continues to tighten.
- The U.S. midterm elections are on November 3. The direction of the CLARITY Act will depend on the makeup of Congress after the election.
- South Korea’s crypto capital gains tax may reportedly be delayed for a fourth time, possibly until 2029.
**Trending topics**
- Binance follow-up: The progress of withdrawal resumption and the November 3 Proof of Reserves are the developments everyone is watching most closely these days.
- ETF outflows have yet to let up, and institutional investors remain cautious.
**New opportunities** (for informational purposes only; participation not recommended)
- StandX’s DUSD claims open today.
- Aster’s Season 6 claim window is open until November 28.
- The FLOP incentive testnet is expected to launch on November 3.
- Today is the last day to answer Binance AI Pro’s WOTD quiz. It closes tomorrow at 07:59 Beijing time. The zero-cost quiz tier shares a 4 BNB pool.
- A phishing reminder: Until withdrawals resume, treat any link claiming to offer "Binance compensation claims" or "fund returns" as phishing. Don’t click.
For informational purposes only; this is not investment advice.