Crypto is broadly lower, with bitcoin at $77,882.10 down 2.6%, ethereum at $2,223.28 down 4.0%, solana at $97.12 down 3.0% and XRP at $1.25 down 2.9%. US spot bitcoin ETFs saw net inflows of $137.3 million and $176.0 million over the two most recent sessions.
BTC-3.0%$77,667
ETH-4.2%$2,221
SOL-3.2%$96.98
XRP-2.6%$1.26
BTC ETFsUS session+$137Mnet flow, Oct 28
News mood
Mixed38% bullish · 28% bearish
What's happening
The dominant driver is the suspected Binance hack, with reports of multibillion-dollar outflows, a $6.3 billion estimated impact, and co-founder CZ reporting nearly $1.8 billion in frozen stablecoins 123. Tether has frozen 971 million USDT in a wallet linked to the suspected drain 4, and liquidations topped $627.7 million in a single hour as hack fears sank bitcoin 5. The hacker dumped smaller tokens like FUN, crashing prices in thin markets 67. Binance expects to start resuming withdrawals within 48 hours and pledges to cover losses 8.
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.
Bitwise raised its bitcoin price target to $1.6 million by 2036 10, and Galaxy Research says the bear market ended in June and that now is an attractive time to buy 11.
Hyperliquid burned $4 billion in HYPE tokens, cutting supply by nearly 5% 12, and Circle is piloting USDC settlement within Colombia's instant-payments network with ACI Worldwide 13.
The CFTC sued Utah to block prediction-market enforcement against Kalshi and Susquehanna 15, while HTX agreed to halt unlawful UK crypto promotions until October 2031 after an FCA case 16.
Standard Chartered says the Binance breach could accelerate a shift toward decentralized trading and strengthen the case for Uniswap's UNI token reaching $100 by 2030 17.