Daily Crypto News
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- 13 Nov 2026
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Daily Crypto News in 20 Minutes or Less.
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Épisodes 894
Nov 13: Anthropic's $1.4 Trillion Question
Bitcoin crashes below $70,000, reaching the $68,000 range as nearly $1.5 billion in leveraged cryptocurrency positions are reportedly liquidated. Ethereum falls below $2,000, Bitcoin ETFs continue seeing …
Notes de l’épisode
Bitcoin crashes below $70,000, reaching the $68,000 range as nearly $1.5 billion in leveraged cryptocurrency positions are reportedly liquidated. Ethereum falls below $2,000, Bitcoin ETFs continue seeing outflows, and the Crypto Fear & Greed Index drops to 20.
Matt Diemer examines whether Bitcoin is finally entering a deeper bear market and what the latest sell-off could mean for investors.
Meanwhile, reports about Nvidia CEO Jensen Huang's future raise questions about leadership, innovation, and whether Nvidia could face the same challenges Apple experienced after Steve Jobs. Matt also explores Anthropic's rumored $1.4 trillion IPO, Tesla and SpaceX valuations, and the national-security risks of relying on privately controlled technology infrastructure.
Plus, Polymarket and Kalshi compete for prediction-market dominance, Washington prepares for new SEC and CFTC appointments, and reports of North Korean cryptocurrency thefts and AI-assisted cyberattacks highlight the industry's security challenges.
Also in today's episode: Daily Crypto News announces its upcoming $5/month ad-free podcast and newsletter subscription. The regular ad-supported podcast will remain available.
Subscribe and read more at https://dailycryptonews.net
Happy Hodling!
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Nov 12: Nvidia’s Problems Keep Growing
Bitcoin falls toward $72,500 as approximately $300 million in additional ETF outflows are reported, Ethereum struggles near $2,000, and the broader cryptocurrency market continues its sell-off.Matt Diemer …
Notes de l’épisode
Bitcoin falls toward $72,500 as approximately $300 million in additional ETF outflows are reported, Ethereum struggles near $2,000, and the broader cryptocurrency market continues its sell-off.
Matt Diemer examines new concerns surrounding Michael Saylor's Strategy, including reports of possible stock-index removal and what lower Bitcoin prices could mean for the company's treasury strategy.
Meanwhile, Nvidia CEO Jensen Huang remains at the center of a growing controversy involving unverified personal allegations, corporate governance questions, and speculation in prediction markets.
Plus, why is Zcash falling so dramatically? A listener raises questions about developer credibility, prompting a larger discussion about what actually makes cryptocurrency technology trustworthy.
We also explore Crypto.com's virtual trading-card products and whether they qualify as decentralized Web3 ownership, a reported Chainstack security incident, concerns about zero balances at an Indian cryptocurrency exchange, and South Korea's new exchange-security measures.
Finally, Matt responds to listener questions about Mark Manson, capitalism, and why political and economic labels often eliminate nuance.
Today's prices: Bitcoin $72,535, Ethereum $2,010, Zcash $961.81.
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Happy Hodling!
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Nov 11: Inflation Hits 4%
Bitcoin continues struggling below $74,000 as U.S. spot Bitcoin ETFs reportedly record a fourth consecutive session of outflows, October inflation reaches a reported 4%, and Zcash plunges 16% in just 24 …
Notes de l’épisode
Bitcoin continues struggling below $74,000 as U.S. spot Bitcoin ETFs reportedly record a fourth consecutive session of outflows, October inflation reaches a reported 4%, and Zcash plunges 16% in just 24 hours.
Matt Diemer examines the pressure on cryptocurrency markets, the Federal Reserve's increasingly difficult decisions, and why an economy can appear healthy on paper while Americans feel financially and personally worse off.
Meanwhile, Nvidia continues facing controversy surrounding CEO Jensen Huang and allegations involving Chinese intelligence. Matt revisits the debate over whether the U.S. government should restrict American companies from selling advanced AI chips overseas, including a response from Daily Crypto News listener Spencer.
Plus, Anthropic reportedly prepares for a potential $1.4 trillion IPO, Tom Emmer moves into Republican House leadership, a federal judge rules against prediction-market company Novig, and cryptocurrency security incidents involving Initia and Across Protocol raise new concerns about centralized infrastructure.
We also examine Zcash's dramatic sell-off, reported short positions, and what traders should watch as market sentiment moves closer to extreme fear.
Read the newsletter and follow Daily Crypto News at https://dailycryptonews.net
Happy Hodling!
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Nov 10: Nvidia Faces a National Security Reckoning
Bitcoin slips below $74,000 as another $201 million reportedly leaves U.S. spot Bitcoin ETFs, Ethereum continues falling, and Bitcoin miner MARA sells approximately 13,597 BTC to repay hundreds of millions in …
Notes de l’épisode
Bitcoin slips below $74,000 as another $201 million reportedly leaves U.S. spot Bitcoin ETFs, Ethereum continues falling, and Bitcoin miner MARA sells approximately 13,597 BTC to repay hundreds of millions in debt.
Matt Diemer examines the controversy surrounding Nvidia CEO Jensen Huang and allegations of a Chinese intelligence operation. But beyond the personal scandal lies a bigger question: Should the U.S. government control which countries American companies can sell their most advanced AI technology to?
We also discuss reports of Anthropic preparing for a potential trillion-dollar IPO, Elizabeth Warren's growing influence over cryptocurrency regulation, and why having 241 supposedly pro-crypto members of Congress might mean very little when party leadership starts demanding votes.
Plus, the Ethereum Foundation and Vitalik Buterin face reported litigation, Polygon considers reversing transactions to recover $70 million in stolen tokens, and Coinbase, Kalshi, and Kraken's parent company enter the fight over derivatives regulation.
Finally, Matt examines whether cryptocurrency PACs will shift their political spending toward Democrats as Washington's balance of power changes.
Get the latest Bitcoin prices, market analysis, cryptocurrency news, AI developments, and political commentary.
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Happy Hodling!
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Nov 9: Nvidia's CEO Faces a Spy Investigation
Bitcoin struggles to hold $75,000 as more than $1 billion in leveraged cryptocurrency positions are reportedly liquidated over the weekend and Bitcoin ETFs suffer $1.28 billion in weekly outflows.Craig Cobb …
Notes de l’épisode
Bitcoin struggles to hold $75,000 as more than $1 billion in leveraged cryptocurrency positions are reportedly liquidated over the weekend and Bitcoin ETFs suffer $1.28 billion in weekly outflows.
Craig Cobb from The Grow Me Co joins Matt Diemer for his weekly technical analysis, examining Bitcoin's critical $74,000 support level, the breakdown in its weekly trend, and why the longer-term three-month chart could be signaling a potential market bottom.
Meanwhile, Nvidia CEO Jensen Huang faces an independent investigation into allegations involving a suspected Chinese intelligence operation. Matt examines why the potential national security implications matter far more than the personal scandal, and what the controversy could mean for America's AI infrastructure and the broader economy.
Plus, Polymarket faces questions about potentially informed election betting and a reported security breach, while the U.S. Treasury moves to cut MEXC Global off from the American financial system over $16 billion in alleged illicit transactions.
We also discuss Wall Street's growing interest in perpetual futures, Tuesday's inflation report, Federal Reserve expectations, and the cryptocurrency market levels investors should watch.
Craig Cobb: The Grow Me Co | X: @TraderCobb
Watch Craig's charts and subscribe: DailyCryptoNews.net
Happy Hodling!
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Nov 6: Bitcoin Crashes as Democrats Take Congress
Bitcoin Crashes, Democrats Take Congress, and the AI Bubble Faces a Reckoning | Daily Crypto News, November 6, 2026Bitcoin plunges toward $76,000 as cryptocurrency markets erase their post-election gains …
Notes de l’épisode
Bitcoin Crashes, Democrats Take Congress, and the AI Bubble Faces a Reckoning | Daily Crypto News, November 6, 2026
Bitcoin plunges toward $76,000 as cryptocurrency markets erase their post-election gains, technology stocks suffer a massive sell-off, and investors confront growing uncertainty surrounding artificial intelligence and Washington's next moves.
In today's Daily Crypto News, Matt Diemer examines the economic implications of Democrats' historic election victory and whether the incoming Congress will prioritize affordability and economic stability or pursue policies that could disrupt cryptocurrency and AI investment.
We cover the reported $500 million sale of AI data-center loans by ING, the sharp declines in AI infrastructure stocks, and the growing financial risks behind the enormous data-center construction boom.
Plus, Elizabeth Warren is positioned to take control of the Senate Banking Committee, House Democrats are discussing cryptocurrency legislation that could expand SEC authority, and the CLARITY Act faces an uncertain future despite the election of hundreds of pro-crypto representatives.
We also revisit Paraguay's banking crisis, examine reports of U.S. regulatory scrutiny following the Binance security incident, and discuss widespread banking outages in Japan.
Finally, we break down the latest Bitcoin, Ethereum, and altcoin prices, ETF outflows, and the critical market levels to watch as fear returns to cryptocurrency markets.
Happy Hodling!
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Nov 5: Paraguay Banking Crisis Sparks Stablecoin Rush
Bitcoin briefly reclaims $80,000 following the U.S. elections as cryptocurrency markets rally and spot Bitcoin ETFs return to positive inflows.In today's Daily Crypto News, Matt Diemer covers Paraguay's growing …
Notes de l’épisode
Bitcoin briefly reclaims $80,000 following the U.S. elections as cryptocurrency markets rally and spot Bitcoin ETFs return to positive inflows.
In today's Daily Crypto News, Matt Diemer covers Paraguay's growing banking crisis, where millions of customers are reportedly struggling to access their money, raising questions about financial stability and the growing demand for dollar-backed stablecoins.
Plus, Trump Media transfers $342 million in Bitcoin, Zcash faces a controversial network upgrade that could leave $16 million in assets inaccessible, and new AI cybersecurity research highlights emerging threats to cryptocurrency infrastructure.
We also cover Binance and SignalPlus security concerns, an XRP Ledger vulnerability fix, Riot Platforms' proposed $28 billion AI infrastructure agreement, Hong Kong's new crypto tax-reporting requirements, and the growing legal battle over Kalshi's prediction markets.
Finally, we look at the latest Bitcoin, Ethereum, and altcoin prices, ETF flows, and what to watch as Bitcoin attempts to hold the $80,000 level.
Happy Hodling!
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Nov 4: Democrats Sweep Congress
Democrats have swept control of the U.S. House and Senate in a historic midterm election, and Matt Diemer examines what the results could mean for cryptocurrency, artificial intelligence, and financial markets …
Notes de l’épisode
Democrats have swept control of the U.S. House and Senate in a historic midterm election, and Matt Diemer examines what the results could mean for cryptocurrency, artificial intelligence, and financial markets. Bitcoin briefly fell toward $75,000 before recovering above $78,000, despite approximately $1.2 billion in Bitcoin ETF outflows over three sessions. Sherrod Brown returns to the Senate in Ohio, while James Talarico and Gina Hinojosa deliver major Democratic victories in Texas, raising new questions about cryptocurrency regulation, Bitcoin mining, and AI infrastructure.
Matt also examines the uncertain future of the CLARITY Act, the cryptocurrency industry's substantial political spending, and whether campaign advertising eventually reaches a point of diminishing returns. Plus, the implications of recent cryptocurrency hacks for AI-powered cybersecurity. Matt closes with his reaction to the election results, the competing interpretations of the Democratic victory, and the challenge facing the party as it prepares to govern.
Happy HODLing
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Nov 3: Midterm Elections Arrive
It's Election Day in America, and Bitcoin is trading around $77,000 as investors wait to see who controls Congress. Matt examines historical stock market performance following midterm elections, why political …
Notes de l’épisode
It's Election Day in America, and Bitcoin is trading around $77,000 as investors wait to see who controls Congress. Matt examines historical stock market performance following midterm elections, why political gridlock could affect investor confidence, and more than $1 billion in Bitcoin ETF outflows over two trading sessions. Cathie Wood's ARK Invest is buying Coinbase, Circle, and Robinhood shares, while Consensys introduces new technology connecting institutional blockchain networks.
The Binance investigation continues as North Korea denies responsibility for the $6.3 billion theft and the exchange reports that 95% of affected assets have been replenished. Another major security breach hits Brazil's Mercado Bitcoin, while Anthropic demonstrates how Claude can discover serious software vulnerabilities. Plus, cyberattacks disrupt supermarket refrigeration systems across Europe, NEAR moves to reduce token issuance, and Matt reviews the latest cryptocurrency prices and what to watch as election results arrive.
Happy HODLing
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Nov 2: Midterm Elections Put Markets on Edge
Bitcoin Holds Near $78,000 After Binance’s $6.3 Billion Hack as Midterm Elections Put Markets on EdgeDaily Crypto News | Monday, November 2, 2026Good morning, everybody. Welcome to Daily Crypto News. My name is …
Notes de l’épisode
Bitcoin Holds Near $78,000 After Binance’s $6.3 Billion Hack as Midterm Elections Put Markets on Edge
Daily Crypto News | Monday, November 2, 2026
Good morning, everybody. Welcome to Daily Crypto News. My name is Matt, and tomorrow is Election Day here in the United States.
We’ve got a lot happening this week. Americans are voting in the midterm elections, the cryptocurrency industry is still dealing with the fallout from the largest exchange hack in its history, and investors are watching economic data, corporate earnings, and the Federal Reserve.
And somehow, through all of this, Bitcoin is still hanging around $78,000.
That’s actually pretty remarkable.
Craig Cobb joins us on today’s episode to break down what he’s seeing in Bitcoin’s technical charts, why the market’s reaction to the Binance hack has surprised him, and what the next seven days could mean for cryptocurrency prices.
Craig has been trading financial markets for more than 20 years and has been involved in cryptocurrency since 2017.
You can follow Craig’s market analysis and trading education at Market Intern, where you can explore his seven-day trial. You can also sign up for his Tuesday newsletter at The Grow Me Co., covering cryptocurrency, macroeconomics, trading, and financial markets.
Craig Cobb’s Market Outlook: Bitcoin’s Weekly Uptrend Is Still Intact
Craig joined us this morning with a perspective I think is worth paying attention to.
The world’s largest cryptocurrency exchange was hit by a reported $6.3 billion hack, and Bitcoin didn’t collapse.
In fact, Craig pointed out that Bitcoin finished the week down approximately 2.26%.
The previous week had been worse, with a decline of approximately 2.37%.
Think about that.
The cryptocurrency industry experienced what appears to be its largest theft ever, and Bitcoin’s weekly performance was actually better than the week before.
Ethereum held up relatively well, too. BNB declined approximately 3.5% over the week, while Dogecoin, XRP, and several other major cryptocurrencies experienced relatively modest moves. Zcash, Hyperliquid, and Monero were among the assets Craig highlighted as finishing higher.
Craig’s argument is that this looks like a much more mature cryptocurrency market than the one we experienced in 2017.
And I agree.
We’ve seen exchanges collapse, enormous hacks, and market panics over the years. Historically, events like these could trigger extraordinary selling pressure.
But this time, the market absorbed the news without the kind of catastrophic decline we might have expected.
Craig also examined Bitcoin’s weekly technical structure.
His analysis shows that the longer-term weekly uptrend remains intact. Bitcoin has experienced approximately four weeks of pullbacks, but it hasn’t definitively broken the higher-low structure he’s watching.
That creates the possibility that Bitcoin could establish another higher low before moving upward.
The daily chart, however, tells a different story.
Craig sees a clear sequence of lower highs and lower lows, alongside the choppy trading conditions we’ve experienced for months.
And that means there aren’t many particularly attractive trading opportunities right now.
His approach is to avoid forcing trades and watch how the market develops over the next five to seven days.
He also discussed Bitcoin’s three-month chart, where he continues to view the range of a previous major quarterly candle as a potential area of interest for long-term spot investors.
Craig isn’t saying everything is fine or that Bitcoin is guaranteed to rally.
He’s saying the charts don’t currently justify panicking about the longer-term trend.
And that’s an important distinction.
Binance Reopens Withdrawals as Customers Pull Billions
Now, let’s get into the latest Binance developments.
The exchange has begun restoring withdrawals after temporarily suspending them during the security investigation.
And customers immediately started moving their money.
During the first nine and a half hours after withdrawals resumed Sunday, Binance reported approximately $4.65 billion in withdrawals and $1.01 billion in deposits.
That works out to roughly $3.64 billion in net outflows.
Those are substantial numbers, but they represent approximately 2.1% of the $171 billion in assets Binance reported holding before the breach.
More recent blockchain monitoring has shown approximately $6 billion in gross outflows over a longer period. It’s important not to confuse gross withdrawals with net withdrawals, because deposits are coming into the exchange at the same time.
Binance says withdrawal activity has started stabilizing.
That’s encouraging, because one of my biggest concerns following the hack was whether reopening withdrawals could trigger something resembling a bank run.
So far, that doesn’t appear to have happened on a scale that threatens the entire exchange.
Binance has also announced that it has replenished approximately 95% of the affected cryptocurrency assets using company resources.
That doesn’t mean 95% of the stolen funds have been recovered from the hackers.
It means Binance says it has acquired or allocated replacement assets to back customer balances.
The remaining 5% involves less-liquid tokens that are harder to purchase in large quantities.
And approximately $3 billion in stolen assets was previously frozen through cooperation with stablecoin issuers, blockchain companies, and law enforcement.
CZ has also thanked the U.S. Secret Service for its assistance.
It’s interesting to see cryptocurrency companies and government agencies working together at this scale.
We’re going to have to watch Binance’s updated proof-of-reserves report, the restoration of the remaining withdrawal services, and the eventual technical explanation of how this happened.
North Korea, Chainalysis, and a New Wave of Cybersecurity Concerns
The North Korea investigation has moved beyond speculation.
On Saturday, the FBI publicly attributed the Binance theft to North Korea’s TraderTraitor operation, the same activity associated with previous major cryptocurrency attacks.
The agency says the attackers have been converting stolen assets primarily into Ethereum and may use decentralized finance platforms and instant-swap services to move the funds further.
That’s a serious development.
It also demonstrates why blockchain tracking, exchanges, and law enforcement are going to remain important as investigators attempt to recover additional assets.
Meanwhile, Chainalysis, one of the major blockchain intelligence companies, disclosed that it had been targeted in a separate cybersecurity incident.
Chainalysis says it found no evidence that investigation materials, authentication credentials, or session tokens were accessed.
It did acknowledge that some less-sensitive customer information was exposed.
The company says the incident was unrelated to Binance.
Still, having two major cryptocurrency security stories in the same week raises obvious questions about how prepared the industry is for increasingly sophisticated attacks.
And there’s another problem.
Scammers are already trying to exploit the Binance crisis.
CZ has warned about impersonation accounts, fake announcements, and phishing messages that tell users they need to move cryptocurrency or take special action to protect their wallets.
My advice is simple.
Don’t click random links. Don’t trust an account just because its profile picture looks official. And don’t send cryptocurrency somewhere because somebody on X says it’s necessary to protect your funds.
One of the stranger developments is that people have apparently been sending messages to wallets associated with the hackers, asking them to share some of the stolen Bitcoin.
I mean, I guess you can shoot your shot.
But don’t expect a cryptocurrency thief to become your personal financial benefactor.
The Midterm Elections Could Reshape Crypto Policy
Tomorrow, Americans will vote in elections that could significantly change the political balance in Washington.
And I think the next two years could look very different d…
This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.dailycryptonews.net/subscribeNov 2: Midterm Elections Put Markets on Edge
Bitcoin is holding near $78,000 following Binance's historic $6.3 billion security breach, and Craig Cobb from The Grow Me Co joins Daily Crypto News to explain what the charts are telling him. Craig examines …
Notes de l’épisode
Bitcoin is holding near $78,000 following Binance's historic $6.3 billion security breach, and Craig Cobb from The Grow Me Co joins Daily Crypto News to explain what the charts are telling him. Craig examines Bitcoin's resilient weekly trend, the choppy daily market, and why the next seven days could be important for investors and traders. Follow Craig's market analysis at Market Intern, including his seven-day trial, and subscribe to his Tuesday newsletter at The Grow Me Co..
Matt covers Binance reopening withdrawals, billions in customer outflows, the exchange's reported progress replacing affected assets, and the investigation into suspected North Korean hackers. With U.S. midterm elections tomorrow, he also discusses potential changes to cryptocurrency regulation, congressional oversight, and market sentiment. Plus, a separate Chainalysis security incident, Microsoft's employee buyout program, Friday's employment report, and the latest crypto prices. Matt closes by explaining why he's simplified the podcast's production and thanking listeners for their continued support.
Happy HODLing
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Oct 30: Binance’s $6.3 Billion Hack
Binance has confirmed an estimated $6.3 billion cryptocurrency security breach, potentially the largest crypto theft in history. Matt breaks down how the attack unfolded, why the reported losses kept …
Notes de l’épisode
Binance has confirmed an estimated $6.3 billion cryptocurrency security breach, potentially the largest crypto theft in history. Matt breaks down how the attack unfolded, why the reported losses kept increasing, and how approximately $3 billion in assets have already been frozen. Binance says it will cover all customer losses using its SAFU emergency fund and company resources, while investigators examine a compromised engineer's laptop and additional security failures. North Korean hackers are under suspicion, but their involvement has not been conclusively established.
Despite the historic breach, Bitcoin has shown surprising resilience, trading around $77,300 during Friday's recording. Matt examines CZ's public response, the industry's reimbursement obligations, and a separate $2.7 million security incident affecting Polymarket. He also questions how Coinbase, Kraken, and Gemini would handle a comparable attack, discusses the risks of exchange custody and hardware wallets, and explains why an extraordinary market shock doesn't necessarily mean Bitcoin's underlying trend has permanently changed.
Happy HODLing
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Binance Investigates Potential $5.7 Billion Hack as Tether and Circle Freeze Billions in Crypto
Daily Crypto News | Breaking News | October 29, 2026Good evening, everybody. My name is Matt, and welcome to an emergency edition of Daily Crypto News.I don’t do many live streams anymore, but when reports …
Notes de l’épisode
Daily Crypto News | Breaking News | October 29, 2026
Good evening, everybody. My name is Matt, and welcome to an emergency edition of Daily Crypto News.
I don’t do many live streams anymore, but when reports start circulating that Binance, the world’s largest cryptocurrency exchange, may have just suffered one of the biggest cryptocurrency hacks in history, I think that’s a pretty good reason to jump online.
And the numbers are changing incredibly quickly.
When I first started looking into this, reports suggested approximately $2.5 billion had moved out of Binance wallets.
Then we were talking about $2.8 billion.
Then $5.6 billion.
And by the end of the live stream, some estimates were approaching $5.7 billion.
Those are estimates of suspicious transfers, not a final confirmed loss. Binance is investigating, and we still don’t know exactly how much was stolen, how the attackers gained access, or how much can ultimately be recovered.
But even at the lower end of the estimates, we’re talking about an extraordinary security incident.
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Billions Move Out of Binance Hot Wallets
The first major warning signs appeared Thursday afternoon, when blockchain investigators noticed enormous transfers out of wallets associated with Binance.
The activity was reported around 4:30 p.m. Eastern.
Some of the initial transactions involved Ethereum and stablecoins, including Tether’s USDT and Circle’s USDC.
As investigators examined additional addresses and blockchain networks, their estimates of the total amount involved increased.
Decrypt reported approximately $5.57 billion in suspicious transfers across Bitcoin, Ethereum, and Tron. Other investigators reported smaller totals, depending on the wallets and transactions they included.
And that’s why I’m being careful about calling this a confirmed $5.7 billion theft.
We know there have been enormous suspicious movements. We know Binance is investigating. But we don’t yet have a final accounting from the exchange.
If the highest estimates are confirmed as stolen funds, this could surpass the roughly $1.4 billion Bybit breach in 2025 and become the largest cryptocurrency hack on record.
Now, some people have asked me why Binance would have billions of dollars sitting in wallets that could potentially be compromised.
Remember, Binance handles an enormous amount of trading activity.
During the live stream, I was looking at figures suggesting approximately $11 billion in daily trading volume.
That doesn’t mean the exchange needs $11 billion sitting in one hot wallet. But a business processing that much trading and withdrawal activity needs substantial liquidity available.
And that creates an important security challenge.
A hot wallet is connected to systems that can authorize transactions relatively quickly. That makes it useful for everyday exchange operations, but it also creates more potential attack surfaces than properly secured offline storage.
The challenge is balancing liquidity, convenience, and security.
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Tether and Circle Freeze More Than $2 Billion in Stablecoins
Here’s one of the most important developments in the entire story.
Tether and Circle moved quickly to freeze stablecoins associated with the suspicious transactions.
Initially, Changpeng Zhao, better known as CZ, thanked the companies for freezing approximately $971 million in USDT and $823 million in USDC.
Then the numbers increased.
Tether CEO Paolo Ardoino said his company had frozen more than $1.567 billion in USDT.
Reuters subsequently reported that Tether and Circle had frozen more than $2.38 billion combined, with Ripple also reportedly freezing approximately $200 million.
That’s an enormous amount of cryptocurrency that the suspected attackers may no longer be able to move.
But there’s an important distinction here.
Frozen does not mean recovered.
Tether and Circle can restrict transfers of their centrally issued tokens under certain circumstances. That can prevent the holders of those tokens from moving them while investigators determine what happened.
It doesn’t automatically mean the money has already been returned to Binance or credited back to customers.
Bitcoin works differently.
There isn’t a central company that can simply freeze an ordinary Bitcoin address because somebody reports a theft.
And while Ethereum’s native ETH can sometimes be tracked through the blockchain, it doesn’t have the same issuer-controlled freezing mechanism as USDT or USDC.
That makes the composition of the suspicious transfers incredibly important.
How much was in stablecoins? How much was native cryptocurrency? How much was moved into other addresses or exchanged for different assets?
Those questions will help determine how much can realistically be recovered.
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CZ Says User Funds Are Safe, but He’s No Longer Running Binance
CZ responded publicly as the news spread.
He said the activity appeared to be a hack, thanked Tether and Circle for acting quickly, and stated that user funds were safe.
But he also made something very clear.
He no longer manages Binance.com.
As a shareholder, he said he expects all user funds to be fully covered.
That’s encouraging if you’re a Binance customer.
But an expectation from a shareholder isn’t the same thing as a finalized reimbursement plan from the company.
Binance itself said it was investigating a potential security issue and that customer funds were safe.
The company also reportedly suspended withdrawals on multiple networks as a precaution.
Now, the big question is how Binance would absorb a loss of this magnitude if the largest estimates are confirmed.
Binance has an emergency protection fund known as SAFU, or the Secure Asset Fund for Users.
The company previously used that fund to cover losses following its 2019 security breach.
But I haven’t confirmed how much was available in the fund at the time of this incident, and we don’t yet know the ultimate amount Binance might need to cover.
We’re talking about potentially billions of dollars.
Even for the world’s largest exchange, that’s serious money.
And I think customers deserve clear answers about what assets were affected, how the incident occurred, and exactly how their balances will be protected.
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Was Artificial Intelligence Involved in the Binance Attack?
This is the part of the story that really concerns me.
We’ve spent the past couple of weeks discussing how artificial intelligence is changing cybersecurity.
AI tools can examine enormous amounts of code, identify unusual behavior, and help researchers discover vulnerabilities that might previously have taken much longer to find.
That’s useful when legitimate security researchers find the weaknesses first.
It’s potentially dangerous when attackers use the same tools.
We’ve already discussed vulnerabilities involving Bitcoin Core, Electrum wallet software, and other cryptocurrency infrastructure.
And now, with Binance, investigators are trying to understand how such a large amount of cryptocurrency could have been moved.
One theory circulating during the live stream involved Ethereum’s EIP-7702 functionality, which allows certain accounts to delegate execution capabilities to smart-contract code.
Could an attacker have exploited a problem involving delegated execution, account permissions, or exchange infrastructure?
Possibly.
But we do not have evidence establishing that EIP-7702 or AI caused this incident.
And I don’t want to present a theory as a confirmed explanation.
The vulnerability could involve compromised credentials, software, internal systems, transaction authorization, or some other mechanism that hasn’t yet been identified publicly.
We simply don’t know.
My broader concern is that AI-assisted attacks could become more frequent as increasingly capable tools become available.
If AI can help legitimate researchers discover security weaknesses, it can potentially help malicious actors look for them too.
But that doesn’t mean every major cryptocurrency hack is auto…
This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.dailycryptonews.net/subscribeOct 29: AI Finds Bitcoin Security Flaws
Bitcoin holds near $80,000 after the Federal Reserve leaves interest rates unchanged, with U.S. spot Bitcoin ETFs reportedly attracting $424 million in inflows this week while Ethereum funds continue losing …
Notes de l’épisode
Bitcoin holds near $80,000 after the Federal Reserve leaves interest rates unchanged, with U.S. spot Bitcoin ETFs reportedly attracting $424 million in inflows this week while Ethereum funds continue losing money. Matt discusses the growing bearish commentary from Chamath Palihapitiya and Jason Calacanis, including Jason's $57,000 Bitcoin prediction and a proposed $1 million wager from Grant Cardone. Crypto traders are also organizing a boycott of Pump.fun amid complaints about unfulfilled airdrop expectations and controversies surrounding the memecoin platform.
Today's security coverage includes three Bitcoin Core vulnerabilities reportedly discovered with AI assistance, new updates for Ethereum clients Teku and Besu, and Google Cloud's work on multi-party computation to protect cryptocurrency private keys. Matt also examines DTCC's blockchain tokenization initiative involving a potential $30 trillion securities market and Utah's criminal charges against Kalshi executives, raising questions about whether prediction markets should be regulated as gambling. The episode closes with Bitcoin's key support levels, ETF flows, and the latest cryptocurrency prices.
Happy HODLing
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Oct 28: Crypto Data Breaches and Banking Concerns Grow
Bitcoin rebounds above $81,000 after holding its recent $79,000 support region, while investors await today's Federal Reserve interest-rate decision. Matt examines approximately $176 million in renewed Bitcoin …
Notes de l’épisode
Bitcoin rebounds above $81,000 after holding its recent $79,000 support region, while investors await today's Federal Reserve interest-rate decision. Matt examines approximately $176 million in renewed Bitcoin ETF inflows, customer-data security incidents involving Bithumb and Coinbase, and a troubling disclosure from Datavult AI about Bitcoin held in an exchange account that the company reportedly cannot withdraw. He also shares his experience undergoing a full-body MRI through Function Health and discusses the potential benefits and drawbacks of extensive preventive screening.
The episode explores growing online concerns about power-grid disruptions and AI-driven cyberattacks, separating routine emergency preparedness from unsupported claims about a global financial reset. Matt also covers Treasury Secretary Scott Bessent's argument for stablecoins as a strategic U.S. technology, BlackRock's tokenization initiative in Japan, and Robinhood's reported 55% decline in cryptocurrency transaction revenue as prediction markets expand. He closes with a response to listeners about stablecoin yield and banking competition.
Happy HODLing
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Oct 27: Ripple Wins Federal Banking Approval
Bitcoin struggles to hold $80,000, falling as low as $79,400 despite approximately $110 million in Monday ETF inflows. Matt explains why losing this support level could open the door to a deeper correction …
Notes de l’épisode
Bitcoin struggles to hold $80,000, falling as low as $79,400 despite approximately $110 million in Monday ETF inflows. Matt explains why losing this support level could open the door to a deeper correction toward $72,000. Today's biggest institutional development involves Ripple reportedly receiving final approval to operate a federally supervised national trust bank, supporting RLUSD reserves and institutional digital asset custody. Strive also continues accumulating Bitcoin with another reported $111 million purchase, while Ethereum developers identify and fix a potentially serious validator-deposit vulnerability before it reaches mainnet.
Artificial intelligence is creating an unexpected problem for Solana's Firedancer development team, which is introducing a one-SOL cost for security bug submissions after an audit competition produced hundreds of reports but relatively few unique findings. Matt examines whether that approach discourages spam or creates barriers for legitimate researchers. Additional stories include Canada's proposed stablecoin regulations and restrictions on yield, South Korea's possible crypto tax delay until 2029, and an important Electrum wallet security update.
Happy HODLing
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Oct 26: Crypto Wallet Hacks, Liquidations, and Market Fear Dominate the News
Bitcoin holds near $80,000 after a volatile weekend marked by leveraged liquidations, ETF outflows, and widespread fears of a market crash. Matt examines the difference between legitimate cybersecurity threats …
Notes de l’épisode
Bitcoin holds near $80,000 after a volatile weekend marked by leveraged liquidations, ETF outflows, and widespread fears of a market crash. Matt examines the difference between legitimate cybersecurity threats and the anxiety amplified by social media algorithms. Today's security coverage includes an exploited Electrum wallet vulnerability, CoinDCX's reported losses involving previously compromised wallet infrastructure, a Keystone customer-data breach, hardware wallet supply-chain concerns, and Initia's $2.7 million exploit. He also discusses approximately $436 million in cryptocurrency liquidations and South Korea's possible decision to delay its cryptocurrency capital gains tax until 2029.
Craig Cobb joins the episode for market commentary as Matt explains why Bitcoin's recent movements remain within the broader trading range and why investors should avoid forcing trades in unpredictable conditions. The discussion also addresses last week's Black October security scare and the lack of evidence connecting the latest incidents to a single AI-driven attack campaign. Matt encourages listeners to distinguish confirmed vulnerabilities from speculation, maintain appropriate security precautions, and avoid making investment decisions based on sensational headlines. Follow Craig at marketintern.com and thegrowmeco.com.
Happy HODLing
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Oct 23: Black October
Today on Daily Crypto News, Matt examines the cybersecurity scare being called Black October, including reports of critical PHP vulnerabilities, attempted server exploits, software supply-chain compromises, and …
Notes de l’épisode
Today on Daily Crypto News, Matt examines the cybersecurity scare being called Black October, including reports of critical PHP vulnerabilities, attempted server exploits, software supply-chain compromises, and growing concerns about AI-assisted cyberattacks. He explains how server-side vulnerabilities could potentially allow attackers to compromise legitimate websites, steal credentials, alter cryptocurrency deposit addresses, or trick users into authorizing malicious wallet transactions. The episode also examines reported exploitation activity across thousands of websites, the distinction between attempted attacks and confirmed breaches, and why organizations must respond quickly to critical security disclosures. Meanwhile, Bitcoin ETFs reportedly recorded approximately $640 million in outflows, although Bitcoin remains relatively stable near $81,550.
Matt also responds to listener Obsidian Enoch's comments about quantum computing and explains why advances in AI-assisted mathematics are generating new discussions about cryptocurrency security. He revisits Chamath Palihapitiya's bearish Bitcoin arguments and questions whether the latest security fears represent another market cycle's FUD or a more significant technological challenge. The episode concludes with practical precautions for cryptocurrency holders and a discussion of how AI could transform both cybersecurity defenses and the methods attackers use to find vulnerabilities.
Happy HODLing
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Oct 22: Is Bitcoin Running Out of Buyers?
Bitcoin falls back toward $81,650 despite continued institutional ETF demand, as technology stocks weaken and Brent crude approaches $112 per barrel. Matt examines Chamath Palihapitiya's increasingly bearish …
Notes de l’épisode
Bitcoin falls back toward $81,650 despite continued institutional ETF demand, as technology stocks weaken and Brent crude approaches $112 per barrel. Matt examines Chamath Palihapitiya's increasingly bearish outlook for Bitcoin following his appearance on the Moonshots podcast. Chamath argues that Bitcoin may be approaching saturation among existing buyers, that wealthy investors face serious custody and physical security risks, and that Bitcoin developers may struggle to coordinate necessary changes against future AI and quantum-computing threats. Matt challenges the idea that institutional adoption has peaked while acknowledging that Bitcoin needs additional sources of long-term demand. He also explores the possibility of a major cryptographic attack against Satoshi Nakamoto's dormant Bitcoin and the broader consequences for digital security.
The episode also examines political risks facing cryptocurrency ahead of the midterm elections, including potential Democratic investigations into the Trump family's cryptocurrency relationships and possible changes to regulatory policy. Matt discusses Standard Chartered's reported acquisition of Zodia Custody, Grayscale's evolving ETF infrastructure, and the banking industry's opposition to stablecoin rewards that could compete with traditional deposits. Additional stories include a major Bitcoin seizure case involving alleged investment fraud, an XRP Ledger security fix, and Solana's Alpenglow upgrade. Throughout the episode, Matt argues that Bitcoin's future depends on continued adoption, stronger security, and a regulatory environment that protects investors without suppressing innovation.
Happy HODLing
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Oct 21: Bitcoin Rebounds to $83K, Craig Cobb Sees a Potential Bullish Setup
Bitcoin rebounds above $83,000 as JPMorgan reportedly releases its first ten-year Bitcoin return forecast, projecting approximately 10% annualized gains compared with 5.5% for gold. Matt examines what those …
Notes de l’épisode
Bitcoin rebounds above $83,000 as JPMorgan reportedly releases its first ten-year Bitcoin return forecast, projecting approximately 10% annualized gains compared with 5.5% for gold. Matt examines what those projections could mean for long-term investors, including the possibility of using carefully planned Bitcoin withdrawals to supplement income. He also discusses BlackRock's recent $665 million ETF inflow, institutional adoption, and speculation about a potential Tesla-SpaceX merger that could combine more than 30,000 Bitcoin. Additional stories include the latest GENIUS Act implementation milestone, researchers recovering eight poorly generated private keys in under a second, and Solana's Alpenglow upgrade targeting transaction finality of just 150 milliseconds.
Craig Cobb joins the episode with his latest Bitcoin and altcoin technical analysis. Craig explains why Bitcoin's pullback toward $80,000 could establish an important weekly higher low, while emphasizing that the shorter-term market remains too messy for attractive Bitcoin trades. He also identifies potential spot-trading opportunities across AAVE, Chainlink, Litecoin, Ondo, Pendle, Solana, Sui, Bittensor, Zcash, and other liquid altcoins showing constructive weekly trends. Follow Craig's analysis through Market Intern, which offers a free seven-day trial, and his free Tuesday newsletter at The Grow Me Co..
Happy HODLing
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Oct 20: Bitcoin ETFs See $500 Million in Inflows
Bitcoin remains near $81,500 as U.S. spot Bitcoin ETFs reportedly record approximately $500 million in net inflows, led by a substantial contribution from BlackRock's IBIT. Matt explains why the $80,000 region …
Notes de l’épisode
Bitcoin remains near $81,500 as U.S. spot Bitcoin ETFs reportedly record approximately $500 million in net inflows, led by a substantial contribution from BlackRock's IBIT. Matt explains why the $80,000 region remains critical support and what Bitcoin needs to accomplish before a meaningful breakout toward $90,000 becomes possible. Institutional developments dominate today's episode, including BlackRock's proposed downside-buffered Bitcoin investment product, JPMorgan's expansion of JPM Coin onto Ethereum, Strive's additional $100 million Bitcoin purchase, Strategy's continued accumulation, and Sky AI's decision to liquidate its Solana treasury in favor of a $201 million stock buyback.
The episode also examines implementation disputes surrounding the GENIUS Act, regulatory questions about crypto perpetual futures, and Mastercard's new stablecoin transaction-screening system. Matt explores why JPMorgan would choose Ethereum over its private blockchain infrastructure and what greater institutional participation could mean for public blockchain governance. Additional stories include Zcash's preparations for future quantum-computing risks, Charles Hoskinson's work on a new Cardano programming language, and the growth of cryptocurrency lending and yield vaults beyond $10 billion. Throughout the episode, Matt questions whether institutional adoption is creating meaningful improvements or simply new financial products and business opportunities.
Happy HODLing
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Oct 16:Bitcoin Magazine Faces Conflict-of-Interest Questions,
Bitcoin rebounds above $82,000 after briefly testing the $79,000 range, but Matt explains why the market remains stuck in the same trading channel until it can break above $87,000. Today's episode examines …
Notes de l’épisode
Bitcoin rebounds above $82,000 after briefly testing the $79,000 range, but Matt explains why the market remains stuck in the same trading channel until it can break above $87,000. Today's episode examines allegations involving Bitcoin Magazine's Ordinals-related business interests and potential editorial conflicts, Deutsche Bank's upcoming Bitcoin and Ethereum custody services, and MSCI index rules that could create selling pressure for Bitcoin treasury companies such as Strategy and Metaplanet. Matt also explores the growing quantum-computing debate, including concerns about millions of Bitcoin held in wallets with exposed public keys and the difficult question of what should happen to Satoshi Nakamoto's dormant coins. A reported hardware-wallet compromise raises additional concerns about supply-chain security and cryptocurrency ownership.
The episode also examines Tesla's latest Roadster demonstration, including its remarkable engineering, aerodynamic downforce, and propulsion technology. Matt praises the innovation while questioning whether Tesla will finally deliver the vehicle after years of delays, what happens to existing customer deposits, and whether earlier referral commitments will be honored. Throughout the discussion, he argues that technological progress and accountability should go together. Bitcoin, institutional finance, artificial intelligence, and advanced automotive engineering all offer enormous possibilities, but financial conflicts, security vulnerabilities, and unfulfilled business promises still deserve scrutiny.
Happy HODLing
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Oct 15: Bitcoin Falls Toward $80K
Bitcoin is testing the critical $80,000 region as inflation accelerates to approximately 3.7%, energy prices remain elevated, and investors reconsider the Federal Reserve's next interest rate decision. Matt …
Notes de l’épisode
Bitcoin is testing the critical $80,000 region as inflation accelerates to approximately 3.7%, energy prices remain elevated, and investors reconsider the Federal Reserve's next interest rate decision. Matt examines the combination of inflation, rising borrowing costs, weakness in AI-related technology stocks, and renewed Bitcoin ETF outflows. With Bitcoin trading near $80,970, he explains why the broader $79K–$82K range remains important and identifies $74,000 as a potential downside target if support fails. Institutional developments include additional corporate Bitcoin accumulation, Treasury tokenization, Ripple's RLUSD expansion, Standard Chartered's $2 trillion stablecoin projection, and EverNorth's institutional XRP strategy. The episode also covers reports that HEX founder Richard Heart has been detained in Istanbul.
Following an enthusiastic listener response to yesterday's episode, Matt continues the conversation about artificial intelligence, data centers, energy infrastructure, and economic development. He acknowledges concerns about noise, rural communities, electricity consumption, and abandoned facilities while questioning whether America can maintain technological leadership without expanding its power infrastructure. More importantly, he examines the enormous scale of AI investment and the possibility that overbuilding, technological improvements, and debt financing could create a dangerous financial bubble. The central question is whether the AI revolution can deliver lasting economic value without exposing communities, workers, and retirement investors to excessive risk.
Happy HODLing
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Oct 14: Data Centers and America's Future
Bitcoin continues holding around $83,000 as markets prepare for an inflation report expected to show consumer prices rising approximately 3.6% year over year. Brent crude remains near $106, the 10-year Treasury …
Notes de l’épisode
Bitcoin continues holding around $83,000 as markets prepare for an inflation report expected to show consumer prices rising approximately 3.6% year over year. Brent crude remains near $106, the 10-year Treasury yield is around 5.2%, and traders are pricing approximately a 78% probability that the Federal Reserve holds rates steady in October. Bitcoin ETFs have also returned to modest inflows following substantial withdrawals last week. Standard Chartered is expanding direct Bitcoin and Ethereum trading for wealthy clients in the UAE, France is considering a 31.4% capital gains tax affecting certain cryptocurrency transactions, and Coinbase is urging Bitcoin developers to begin preparing for post-quantum cryptography. Matt also discusses his frustration with capital gains taxes and why he believes ordinary investors should receive more favorable treatment.
Today's episode takes a deeper turn into artificial intelligence, consciousness, and America's relationship with technological progress. Matt explores whether future AI systems could become conscious, how humanoid robots might change our understanding of companionship and labor, and why these questions could become major ethical debates within a generation. He also challenges opposition to AI data centers, arguing that America cannot demand manufacturing jobs and economic development while rejecting the infrastructure required to create them. Drawing on his family's manufacturing history in Cleveland and his childhood fascination with Star Trek, Matt questions why technologies once celebrated as science fiction are now becoming political battlegrounds. His argument is that we should focus on responsible development, meaningful oversight, and ensuring ordinary people benefit from innovation rather than trying to prevent the future from being built.
Happy HODLing
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Oct 13: Crypto Faces a Political Reckoning and XRP Escapes a Major Security Threat
Bitcoin dropped toward $81,000 overnight as approximately $750 million in leveraged cryptocurrency positions were liquidated, before rebounding toward $83,000. Matt explains why Bitcoin remains trapped in the …
Notes de l’épisode
Bitcoin dropped toward $81,000 overnight as approximately $750 million in leveraged cryptocurrency positions were liquidated, before rebounding toward $83,000. Matt explains why Bitcoin remains trapped in the same trading range, with $87K serving as the key resistance level before a potential move toward $90K. Strategy purchased another 250 Bitcoin for approximately $21.5 million, Morgan Stanley reportedly plans to support tokenized equities in early 2027, and hedge funds are increasingly exploring cryptocurrency arbitrage strategies involving spot markets, futures, funding rates, and cross-exchange price differences. Matt also questions how retail investors can benefit directly from institutional tokenization when financial institutions may use private blockchain infrastructure rather than public networks.
Today's biggest regulatory story concerns warnings that the CFTC's cryptocurrency framework could be vulnerable to political changes following the 2028 election. Matt discusses the failure of Congress to establish durable crypto legislation, the possibility of increased congressional investigations following the 2026 midterms, and concerns that investigations into Trump-related cryptocurrency businesses could create uncertainty across the broader industry. We also examine a potentially catastrophic XRP Ledger vulnerability that researchers discovered and developers patched, a dormant Bitcoin wallet moving approximately $378 million after six years, Binance introducing AI trading assistance, and NFT marketplace Blur reportedly preparing to shut down its primary web interface. Total crypto market capitalization stands near $2.79 trillion, with the Fear & Greed Index at 55.
Happy HODLing
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Craig Cobb Sees Bullish Signs, but Few Trading Opportunities
Bitcoin rebounded after falling toward $80,350 last week, but Craig Cobb believes the cryptocurrency market still needs to demonstrate stronger technical momentum before attractive trading opportunities return …
Notes de l’épisode
Bitcoin rebounded after falling toward $80,350 last week, but Craig Cobb believes the cryptocurrency market still needs to demonstrate stronger technical momentum before attractive trading opportunities return. Bitcoin's weekly uptrend remains intact, while a bullish three-month candle continues to suggest the possibility that the bear-market low has already been established. Craig explains why breaking above that candle's high would be an important confirmation signal and examines Ethereum, Solana, XRP, Dogecoin, BNB, TRON, Zcash, Hyperliquid, and Monero. Total cryptocurrency market capitalization has also successfully tested approximately $2.72 trillion as support, although the broader market still needs to break above recent highs.
Craig also shares three cryptocurrencies on his trading watchlist: Stacks (STX), Aerodrome Finance (AERO), and Aptos (APT). He explains the importance of clean trends, higher highs, higher lows, and moving-average cradle setups, including a potential AERO pullback toward $0.90. Despite increasingly constructive longer-term charts, the shorter-term market remains choppy and lacks the consistent cyclicity Craig prefers. His message is to remain patient, avoid forcing trades, and wait for confirmed opportunities. Learn more at https://marketintern.com and subscribe to Craig's free Tuesday newsletter at https://www.thegrowmeco.com.
Happy HODLing
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Oct 12: Could AI Break Bitcoin's Cryptography?
Bitcoin is holding around $83,000 after testing $80K last week, but the bigger story today is the growing debate over whether artificial intelligence could eventually threaten the cryptography securing Bitcoin …
Notes de l’épisode
Bitcoin is holding around $83,000 after testing $80K last week, but the bigger story today is the growing debate over whether artificial intelligence could eventually threaten the cryptography securing Bitcoin, Ethereum and much of the modern internet. Following a discussion on the All-In Podcast, Matt examines OpenAI's release of hundreds of AI-generated mathematical research manuscripts and why advances in mathematical discovery are raising questions among cryptographers. We explain how elliptic-curve cryptography protects private keys, why discovering a new mathematical shortcut could be more consequential than simply building faster computers, and the three possible outcomes ranging from continued security to a fundamental cryptographic breakthrough.
We also examine the distinction between AI-driven mathematical research and quantum computing, recent improvements to components of hypothetical quantum attacks, and Justin Drake's proposed precautions for wallets with exposed public keys. Vitalik Buterin's measured response highlights why the industry should investigate potential vulnerabilities without encouraging users to panic. Matt also explores the enormous challenges of migrating Bitcoin and Ethereum to new signature systems, the security implications for dormant wallets, and why AI-powered phishing, impersonation and social engineering may present more immediate threats than a mathematical breakthrough. Bitcoin remains near $83K, with $80K support and the $87K breakout level still in focus.
Happy HODLing
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Oct 9: $1.2 Billion in Liquidations Signals More Trouble Ahead
Bitcoin bounced back above $80,000 after a sharp selloff triggered approximately $1.2 billion in crypto liquidations, including more than $1 billion in long positions. The rebound came amid reports that …
Notes de l’épisode
Bitcoin bounced back above $80,000 after a sharp selloff triggered approximately $1.2 billion in crypto liquidations, including more than $1 billion in long positions. The rebound came amid reports that President Trump would delay potential military action against Iran until after the midterm elections, while oil prices remain above $100 and Bitcoin ETF investors have withdrawn roughly three-quarters of a billion dollars over two sessions. Matt explains why he considers the move a bounce rather than a recovery, with $80K becoming the immediate support zone and $83K to $84K the first resistance area Bitcoin needs to reclaim. He also discusses the possibility of further downside into the $70,000s and how the midterm elections could influence crypto markets.
Today's institutional news includes MARA transferring approximately $81 million in Bitcoin as miners increasingly explore AI infrastructure, Robinhood and T. Rowe Price examining tokenized ETFs, Thailand approving a framework for domestic Bitcoin and Ethereum ETFs, and the UK sanctioning crypto services accused of facilitating Russian sanctions evasion. We also revisit the debate over AI and cryptocurrency security following comments from Vitalik Buterin, examine Solana's effort to cut block times in half, and explain how the XRP Ledger's new permission-delegation functionality could improve institutional custody and treasury management.
Happy HODLing
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Oct 8: AI Raises New Questions About Crypto Security
Bitcoin has fallen toward $82,000 as Treasury yields remain elevated, Brent crude trades above $100 and the dollar strengthens toward an 18-month high. U.S. spot Bitcoin ETFs recorded approximately $487 million …
Notes de l’épisode
Bitcoin has fallen toward $82,000 as Treasury yields remain elevated, Brent crude trades above $100 and the dollar strengthens toward an 18-month high. U.S. spot Bitcoin ETFs recorded approximately $487 million in net outflows Wednesday, while the Federal Reserve's September meeting minutes showed policymakers remain concerned about inflation and expect additional tightening may be necessary this year. Standard Chartered is expanding institutional crypto custody into Singapore, Samsung is bringing USDC transfers directly into Samsung Wallet for eligible U.S. Galaxy users, and Grayscale's Zcash ETF highlights the continued expansion of regulated crypto investment products beyond Bitcoin and Ethereum.
Today's biggest technology discussion centers on Ethereum researcher Justin Drake's warning that advances in AI, mathematics and computing could eventually threaten the cryptography securing cryptocurrency wallets. No such break has been demonstrated, but the debate raises important questions about long-term security and whether the industry should begin preparing now. We also look at Orca and Loopscale merging to form Formation, a Solana-based financial infrastructure company targeting AI, robotics, energy and other emerging industries. Plus, a listener question sparks a discussion about AI, free speech, algorithmic control and why locally hosted language models don't fully address concerns about censorship on public platforms.
Happy HODLing
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Oct 7: Bitcoin Drops Back to $83K
Bitcoin dropped from roughly $86K to $87K back toward $83K in a matter of minutes as Brent crude climbed above $100, Treasury yields moved higher, the dollar strengthened and leveraged long positions were …
Notes de l’épisode
Bitcoin dropped from roughly $86K to $87K back toward $83K in a matter of minutes as Brent crude climbed above $100, Treasury yields moved higher, the dollar strengthened and leveraged long positions were liquidated. Crypto liquidations reached roughly $550 million over 24 hours, while Bitcoin ETF flows were nearly flat. Bitcoin is once again testing the lower end of the range we've been watching, with roughly $82K to $83K acting as support, while the Federal Reserve's September meeting minutes arrive today amid continuing uncertainty over whether policymakers will raise rates again this year.
Robinhood has added $25 million in Bitcoin to its own balance sheet, while stablecoin company Rain is seeking a national trust bank charter. The CFTC continues developing a federal framework for leveraged retail crypto trading without waiting for new legislation from Congress, Cardano has launched a programmable-token standard allowing regulated assets to include freeze, seize and transfer restrictions without changing ADA's permissionless base layer, and Pudgy Penguins parent Igloo is shutting down its Abstract Ethereum Layer 2 on December 15 after losing tens of millions of dollars supporting the network. Abstract becomes the second recognizable Ethereum Layer 2 to announce a shutdown in less than a week, putting more attention on whether L2 economics are actually sustainable.
Happy HODLing
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