Crypto News

A major security breach at Binance has dominated crypto news, with hackers deploying never-seen-before laundering tactics to move billions in stolen funds while the exchange prepares a $6.3B recovery plan. The incident has sparked broader discussions about exchange security and regulatory oversight, with the CFTC chair calling for increased US oversight of offshore platforms, while concerns about crypto hacks have also fueled interest in traditional stock market Bitcoin proxies. On a more positive note, Tether reported record Q3 profits of $1.5B and strengthened reserves, though the broader market remains under pressure following the Binance breach.