Crypto is broadly lower, with bitcoin down 3.8% to $75,256.60, ethereum down 5.2% to $2,219.53, solana down 3.3% to $89.87 and XRP down 7.9% to $1.18. US spot bitcoin ETFs saw net outflows of $430.2 million on Nov 5 after inflows of $74.6 million on Nov 4.
BTC-0.6%$75,850
ETH-1.4%$2,232
SOL+0.5%$90.66
XRP-3.6%$1.20
BTC ETFsUS session-$430Mnet flow, Nov 5
News mood
Mixed28% bullish · 42% bearish
What's happening
The Binance hack, reported at up to $5.7 billion in losses, is pushing prices down and raising questions about customer funds after more than $2 billion in ETH and tokens left Binance hot wallets 12. Bitcoin erased its election rally as AI stocks sank, Democratic midterm wins raised policy questions, and $428 million in crypto longs were liquidated 3. BlackRock sold $405 million worth of bitcoin as IBIT redemptions piled up 4. The top two Hyperliquid traders this month hold more than $1 billion in combined short positions betting on crypto falling 5.
More than $2 billion in Ethereum (ETH) and tokens left Binance hot wallets on Thursday for an address created hours earlier and funded through Tornado Cash, Etherscan data shows.
Crypto commentator Tyler D has said that a Democratic takeover of Congress in the November 3 US midterm elections could slow crypto legislation and bring tougher regulatory conditions, but it may also benefit privacy cryptocurrencies.
A Polygon proposal seeks a hard fork to recover 70.49 million POL tied to the Polymarket and Binance incidents into recovery wallets without changing POL's total supply 7.
Binance removed SignalPlus API keys following a security alert 11, while South Korea's GOPAX suspended trading, deposits and standard withdrawals after a hacking threat to move all assets to cold storage 12.