Weekly Crypto is brought to you by the 25% Club, here is the week of 10/26 in brief.
Binance was robbed of $6.3 billion on Thursday evening, four times the previous crypto record. The day before, the Fed had left its rates unchanged, despite two votes for a further increase. And a few hours before the hack, the parent company of the New York Stock Exchange announced that it wanted to operate Hyperliquid markets in the United States.
Crypto news in brief
Status quo at the Fed despite two votes for an increase – Bitcoin goes back above $81,000. Lisa Cook and Beth Hammack wanted to raise rates by a quarter point on Wednesday. Its president, Kevin Warsh, has made no commitment for December, and the markets give an 86% chance of an increase at the December 8-9 meeting.
Bitcoin: the last 3 midterms marked the low point of the cycle. The US mid-term vote takes place on Tuesday. After those of 2014, 2018 and 2022, bitcoin gained an average of 53.7% in one year, but each time it reached its lowest point a few weeks after the election. This year, this low point could already date from June.
$6.3 billion Binance hack: a compromised laptop and withdrawals promised within 48 hours. The siphoning began on Thursday at 9:05 p.m., and most of the funds left in around twenty minutes. Binance cites an engineer's compromised computer as a possible gateway and promises to cover all losses, first with its SAFU fund. Overnight, bitcoin fell below $77,000.
Binance Hack: Trump, the CFTC and the Secret Service get in on the action. Chainalysis attributes the theft to TraderTraitor, the North Korean group already linked to the Bybit hack in 2025. The president of the CFTC, Michael Selig, sees this as an argument to regulate offshore platforms, while Circle, which works with the Secret Service, froze around $823 million.
Crypto: Singapore investigates Ledger devices modified without manufacturer's knowledge. Self-custody also has its pitfalls. In devices purchased in stores, the police found components capable of capturing the recovery phrase at the time of installation. Ledger assures that its chip and servers have not been compromised, and asks resellers in Southeast Asia and Hong Kong to suspend their sales.
Ripple lands its federal bank: the OCC validates the Ripple National Trust Bank. The charter places the reserves of RLUSD, Ripple's stablecoin, under federal supervision. It does not allow the collection of deposits or the granting of credits, and XRP is not part of any authorized activities.
Intercontinental Exchange will operate Hyperliquid perps in the USA: HYPE jumps 15%. The parent company of the NYSE joins forces with TradeXYZ, which designs these contracts on Hyperliquid technology, and takes a stake in its capital. The markets would also cover stocks, commodities and currencies, but their launch awaits the green light from American regulators.
CARF adopted in the Senate: 5 questions to understand what is changing for your cryptos. This OECD agreement organizes the automatic exchange of crypto data between countries, and 46 of them, including France, will exchange operations for 2026 from 2027. The platforms will also declare transfers to a personal wallet. The National Assembly must still vote on the text.
The news of the week in figures
68,000 BTC is what 9 hedge funds and banks, from Millennium to Goldman Sachs, withdrew from American spot Bitcoin ETFs between the end of September 2025 and the end of June 2026, according to Galaxy.
$4 billion is what users paid in onchain fees in the third quarter, up 36% over three months according to the 1kx fund.
1.7 billion euros is the amount of the 10-year bond that Luxembourg issued directly on blockchain, presented as a first for a European state on this scale.
38th out of 38, this is France's rank in the Tax Foundation's tax competitiveness index, which compares OECD countries. She was already last last year.
Video of the week
The crypto market under pressure, the Fed at the center of attention. At the start of the week, Cara judged Bitcoin to be hesitant, explained that she had kept a significant portion of cash and reminded people to stick to their plan in the face of sudden movements. As of Thursday evening, the Binance hack sent bitcoin below $77,000.
