FlashSEC Crypto / Policy
SEC Issues Exemptive Relief from Treasury Clearing Requirements for Certain Inter-Affiliate and Non-U.S. Repo Transactions
The Securities and Exchange Commission took another step forward today to assist broker-dealers and other market participants on the path to central clearing of U.S. Treasury securities by issuing exemptive relief related to inter-affiliate repo…
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View allTrump States Investigation Is Underway Into Whether the Binance Hack Was Perpetrated by North Korea-Linked Hackers
U.S. authorities are advancing the investigation into the large-scale Binance theft incident<p>U.S. President Donald Trump publicly stated that he is following up on the previously occurred Binance hack. When asked whether the attack was orchestrated by North Korea, Trump responded that no definitive conclusion has been reached yet, and relevant investigative work is ongoing.</p><p>Trump also revealed that Binance has provided feedback to him that the situation of the incident is now under control. Previously, multiple leading blockchain analytics firms including Chainalysis and TRM Labs have attributed this approximately $6.3 billion attack to the North Korea-linked hacking group TraderTraitor.</p><p>As of the present, the U.S. government has not released an official formal determination on the attribution of responsibility for this incident, and subsequent investigation progress will continue to receive widespread attention from the crypto industry and regulatory bodies.</p>
Worried About Crypto Hacks? Buy Bitcoin Proxies in Stock Market Instead, Say Wall Street Firms
Analysts at Cantor Fitzgerald, TD Cowen and Compass Point say the record $6.4 billion theft is a Binance security failure, not a crypto-wide threat, pointing clients toward proxies like Coinbase, Robinhood, and Strategy.
Three Major U.S. Stock Indexes Closed Lower Collectively: Intel (INTC) Down 29.48%, SanDisk (SNDK) Down 13.79%
Per Binance market data, at U.S. stock market close, all three major indexes posted collective losses: the Dow Jones Industrial Average fell 1.09% on the day, the Nasdaq Composite dropped 2.29% intraday, and the S&P 500 Index recorded a 1.21% intraday decline. Among key assets, Intel (INTC) fell 29.48%, SanDisk (SNDK) declined 13.79%, Coinbase (COIN) dropped 12.01%, AMD slid 11.24%, Circle (CRCL) fell 9.50%, and SKHY decreased by 8.15%.
BreakingBinance has backfilled approximately 80% of stolen funds, plans to resume withdrawals in phases within 34 hours
Binance announces the latest progress in handling the security incident<p>Binance officially disclosed that it has prepared over 6.34 billion USD in corporate funds, of which token assets equivalent to more than 5 billion USD including USDC, USDT, BTC, ETH, BNB and others are fully in place. Approximately 80% of the stolen funds have been backfilled at present, and the remaining gap is being gradually filled through public market and over-the-counter trading channels.</p><p>As of now, the platform has frozen approximately 3 billion USD of related involved assets on-chain. No relevant evidence of wallet private key leakage has been found after preliminary investigation, and the core assets of users are not under further threat.</p><p>The platform will resume withdrawal services in phases for different tokens within approximately 34 hours, and plans to complete the first proof-of-reserves snapshot within 12 hours. The relevant snapshot results will be officially released to the public before Monday, November 2.</p><p>In addition, Binance stated that it expects to release further technical investigation results of this security incident within approximately 48 hours, fully disclosing the incident details and subsequent protection upgrade plans to users.</p>
Reddit Stock Plunges 30% as Google's AI Search Hits Traffic and User Growth
Reddit shares are down 44% this week after CEO Steve Huffman warned that Google's AI-powered search features are cutting referrals, while weaker user growth and disappointing fourth-quarter guidance added to investor concerns.