The crypto industry has invested over $200 million in positioning for the 2026 midterm elections to push for favorable regulatory rules.

According to an official announcement, Binance has raised the recovery rate of its stolen assets from approximately 80% to 90%. The exchange had earlier set aside more than $6.34 billion in its own funds to cover losses from the security incident. Currently, BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC all enjoy 100% full reserve backing. The recovery funds are sourced in part from the Secure Asset Fund for Users (SAFU), a portion of the contract insurance fund, and the company’s own capital; the remaining balance of the contract insurance fund is retained in compliance with regulatory requirements. The roughly 10% of unrecovered assets consist solely of tokens outside the aforementioned 10, and due to their relatively low liquidity, acquiring the required amounts may take longer. Binance is continuing to repurchase these assets via market and over-the-counter (OTC) channels. A new Proof of Reserves (PoR) snapshot was completed at 08:00 Beijing Time on October 31, with the relevant data updated on the exchange’s official website. Binance stated that generating the zero-knowledge proof will take 40 to 50 hours, and the full proof is expected to be released on November 3 (UTC). Holders of the 10 tokens will then be able to verify for themselves whether their assets are backed by at least a 1:1 full reserve. Binance reiterated that it will fully absorb the financial losses from the theft, which will not be passed on to users. Work to restore withdrawal services is proceeding as planned, with an expected resumption on November 1; specific details will be announced separately once confirmed.

SlowMist founder Yu Xian stated in a post that Lido’s 7-day average APR has jumped from 2.2% to 4.2% over the past two days. He pointed out that yesterday’s Binance hack sparked fierce on-chain competition, driving up Ethereum execution layer rewards and benefiting stETH holders as a result.

According to Onchain Lens monitoring, Galaxy Digital OTC transferred 47,000 HYPE tokens to OKX four hours ago, valued at approximately $4.06 million, and the move is suspected to be preparation for a sale.

Nasdaq-listed software company Next Technology Holding (NXTT) announced its board has authorized the sale of its disclosed holdings of roughly 5,833 Bitcoin, or the use of these BTC as collateral for financing, valued at approximately $449 million as of press time. The company cited the Binance hack, crypto exchange security vulnerabilities, and potential threats from quantum computing to Bitcoin’s cryptography as drivers for the decision, stressing that none of its Bitcoin are stored or held via Binance. Specific transaction timelines, prices, and volumes will be determined by CEO Weihong Liu. The authorization permits transactions via exchanges, over-the-counter deals, or Bitcoin collateral financing, though it does not guarantee any final transaction will be completed. NXTT’s market capitalization stood at around $7.8 million at Friday’s close, with its disclosed Bitcoin holdings worth over 50 times the firm’s market cap. The company’s annual report notes that nearly all its Bitcoin are held by a Japanese custodian, though the custodian’s name was not disclosed.

Leading domestic storage chip giant Changxin Technology has completed verification of its sixth-generation process technology platform for engineering samples. On October 30, Changxin Technology disclosed during its third-quarter earnings conference that, building on key breakthroughs in the 4F2 vertical channel DRAM (Dynamic Random Access Memory) architecture, the sixth-generation process technology platform has passed engineering sample validation. Per industry practice, completion of engineering sample verification means the platform’s core performance metrics have met design expectations on actual wafers, and after client-side validation, it can enter mass production phase. (The Paper)

Crypto journalist Eleanor Terrett reported that ICE has reissued its announcement of a partnership with Trade.xyz to introduce Hyperliquid-based perpetual contracts to the U.S. ICE’s deletion of the original post last night sparked mild panic among some X users, who worried the collaboration had been canceled. The revised announcement highlights more restrictive conditions: ICE “plans” to launch the related markets, and the move is “subject to regulatory approval.” Terrett speculates this may simply be due to the legal team’s extra caution.