{"id":25094,"date":"2026-11-08T00:19:32","date_gmt":"2026-11-08T00:19:32","guid":{"rendered":"https:\/\/cryptoted.net\/index.php\/2026\/11\/08\/binance-recovery-us-crypto-bill-talks-bitcoin-etf-exits\/"},"modified":"2026-11-08T00:19:32","modified_gmt":"2026-11-08T00:19:32","slug":"binance-recovery-us-crypto-bill-talks-bitcoin-etf-exits","status":"publish","type":"post","link":"https:\/\/cryptoted.net\/index.php\/2026\/11\/08\/binance-recovery-us-crypto-bill-talks-bitcoin-etf-exits\/","title":{"rendered":"Binance recovery, US crypto bill talks, Bitcoin ETF exits"},"content":{"rendered":"<p> <br \/>\n<br \/><img decoding=\"async\" src=\"https:\/\/media.crypto.news\/2025\/02\/crypto-news-Binance-option35.webp\" \/><\/p>\n<div>\n<p class=\"is-style-lead\">In this week\u2019s edition of the weekly recap, Binance explained how attackers stole $6.34 billion, Democrats discussed a different approach to U.S. crypto regulation, and Bitcoin funds returned to outflows. The Nov. 1\u20137 news cycle also brought progress on retirement-plan rules, a proposed tZERO listing and blockchain upgrades.<\/p>\n<div id=\"cn-block-summary-block_2b5c8452179f72f396aa0cae832ff926\" class=\"cn-block-summary\">\n<p>\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/p>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Binance traced its breach to compromised employee devices and said customer losses would be covered.<\/li>\n<li>Democrats discussed expanding SEC oversight and reviving investor protections in a crypto market structure proposal.<\/li>\n<li>U.S. spot Bitcoin ETFs recorded $430.2 million in net withdrawals during the Nov. 5 session.<\/li>\n<li>A Labor Department rule covering alternative retirement investments reached the White House for final review.<\/li>\n<li>tZERO announced a proposed SPAC merger carrying a $350 million pre-money equity valuation.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<h2 class=\"wp-block-heading\">Binance explains its $6.34 billion breach<\/h2>\n<ul class=\"wp-block-list\">\n<li>Binance\u2019s Nov. 3 incident report <a href=\"https:\/\/crypto.news\/binance-hack-fake-interviews-ai-tool-signing-service\/\" target=\"_blank\">traced the attack<\/a> through fake recruitment interviews, compromised developer software and an internal AI tool. Stolen deployment credentials eventually gave attackers access to wallet signing operations during the Oct. 29 theft.<\/li>\n<li>Bitcoin withdrawals reopened on Nov. 1 as the exchange began restoring services. In its subsequent account, Binance said it had replenished 98% of affected token assets and was purchasing the remaining, less liquid cryptocurrencies. CEO Richard Teng said customers would bear no losses, while approximately $2.85 billion had been frozen or intercepted.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\">Democrats revisit SEC oversight<\/h2>\n<ul class=\"wp-block-list\">\n<li>House Democrats <a href=\"https:\/\/crypto.news\/democrats-crypto-market-structure-bill-sec-oversight\/\" target=\"_blank\">began discussing legislation<\/a> that would give the SEC greater oversight and limit the CFTC\u2019s role, according to reporting by Eleanor Terrett. Discussions followed the midterm elections and concerned a proposal for the next Congress.<\/li>\n<li>The approach draws on Representative Maxine Waters\u2019 earlier investor protection package, including bankruptcy-remote custody, withdrawal safeguards and monthly reserve reporting. Restrictions on federal officials\u2019 crypto interests were also under discussion. These remained legislative ideas rather than newly adopted requirements.<\/li>\n<\/ul>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\">Bitcoin ETF withdrawals resume<\/h2>\n<ul class=\"wp-block-list\">\n<li>U.S. spot Bitcoin ETFs <a href=\"https:\/\/crypto.news\/bitcoin-etfs-lost-430-million-as-fidelity-reversed-course\/\" target=\"_blank\">lost $430.2 million<\/a> on Nov. 5, following $74.6 million in net inflows a day earlier, according to Farside Investors\u2019 figures. The first four November sessions produced combined net outflows of $869.8 million.<\/li>\n<li>Fidelity\u2019s FBTC swung from a $236.7 million inflow to a $199.9 million outflow across those two sessions. BlackRock\u2019s IBIT recorded withdrawals on both days, although its daily outflow narrowed from $201.2 million to $105 million.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\">Crypto retirement rule reaches White House<\/h2>\n<ul class=\"wp-block-list\">\n<li>The Labor Department\u2019s final rule on selecting retirement-plan investments <a href=\"https:\/\/crypto.news\/crypto-401k-rule-white-house-final-review\/\" target=\"_blank\">entered White House review<\/a>. OIRA received it on Nov. 5, advancing a framework covering alternative assets, including digital assets.<\/li>\n<li>Review remained pending. Submission did not mean crypto had been added automatically to 401(k) plans or that employers were required to offer it.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\">Stock perpetual futures face court challenge<\/h2>\n<ul class=\"wp-block-list\">\n<li>A federal judge <a href=\"https:\/\/crypto.news\/stock-perps-court-denies-halt-cftc-authority\/\" target=\"_blank\">denied an emergency halt<\/a> on U.S. stock perpetual futures after the CFTC cleared the products. The challenge involves contracts at KalshiEX, Bitnomial Exchange and Coinbase Derivatives.<\/li>\n<li>Judge Valerie Caproni questioned the agency\u2019s authority but found insufficient evidence of imminent, irreparable harm. Her preliminary assessment did not finally resolve the lawsuit.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\">Agencies withdraw $250 transfer proposal<\/h2>\n<ul class=\"wp-block-list\">\n<li>FinCEN and the Federal Reserve <a href=\"https:\/\/crypto.news\/us-treasury-fed-withdraw-250-crypto-travel-rule-proposal-what-does-it-mean\/\" target=\"_blank\">withdrew their proposal<\/a> to lower the cross-border transfer recordkeeping and information-sharing threshold from $3,000 to $250.<\/li>\n<li>The withdrawal takes effect Nov. 9. Existing requirements remain in place, while the agencies left open the possibility of separate future rulemaking.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\">Strategy and Strive add Bitcoin<\/h2>\n<ul class=\"wp-block-list\">\n<li>Strategy and Strive <a href=\"https:\/\/crypto.news\/strategy-buys-811-btc-strive-adds-124-bitcoin\/\" target=\"_blank\">reported Bitcoin purchases<\/a> totaling approximately $75.5 million on Nov. 2. Strategy bought 811 BTC for $65.5 million, while Strive reported adding another 124 BTC for roughly $10 million.<\/li>\n<li>The purchases brought their reported holdings to 849,327 BTC and 43,124 BTC, respectively.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\">Circle reports $864.9 million quarterly revenue<\/h2>\n<ul class=\"wp-block-list\">\n<li>Circle <a href=\"https:\/\/crypto.news\/circle-q3-revenue-arc-mainnet-usdc-payments\/\" target=\"_blank\">reported quarterly growth<\/a> as revenue and reserve income rose 17% to $864.9 million. Adjusted EBITDA increased 85% to $317 million.<\/li>\n<li>The figures included $182 million recognized from an ARC token presale. Reserve income declined 8%, while USDC onchain transaction volume increased 49% to $13.9 trillion.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\">tZERO plans $350 million SPAC merger<\/h2>\n<ul class=\"wp-block-list\">\n<li>tZERO <a href=\"https:\/\/crypto.news\/tzero-350m-spac-merger-fg-imperii-nyse-american\/\" target=\"_blank\">agreed to merge<\/a> with FG Imperii Acquisition Corp., targeting an NYSE American listing under TZRO after an expected early-2027 closing.<\/li>\n<li>The proposed $350 million valuation includes milestone-linked consideration. Potential trust proceeds of $231 million remain subject to shareholder redemptions and transaction expenses.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\">France removes crypto budget amendments<\/h2>\n<ul class=\"wp-block-list\">\n<li>France\u2019s National Assembly <a href=\"https:\/\/crypto.news\/france-scraps-crypto-tax-amendments-after-lawmakers-reject-2027-budget-section\/\" target=\"_blank\">rejected the revenue section<\/a> of its proposed 2027 budget by 458 votes to none.<\/li>\n<li>The rejection removed crypto-to-stablecoin tax provisions and a \u20ac100,000 self-custody reporting proposal from the text heading to the Senate. Lawmakers could revisit the measures during subsequent budget deliberations.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\">Zcash activates faster blocks<\/h2>\n<ul class=\"wp-block-list\">\n<li>Zcash <a href=\"https:\/\/crypto.news\/zcash-nu7-goes-live-zec-price-analysis\/\" target=\"_blank\">activated its NU7 upgrade<\/a> on Nov. 6 at block 3,543,405, cutting its target block interval from 75 seconds to 25 seconds.<\/li>\n<li>The upgrade also introduced shielded transaction limits and reserved 60% of transaction fees for future miner rewards.<\/li>\n<\/ul>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/crypto.news\/weekly-recap-binance-recovery-crypto-bill-bitcoin-etf\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In this week\u2019s edition of the weekly recap, Binance explained how attackers stole $6.34 billion, Democrats discussed a different approach to U.S. crypto regulation, and Bitcoin funds returned to outflows. The Nov. 1\u20137 news cycle also brought progress on retirement-plan rules, a proposed tZERO listing and blockchain upgrades. Summary Binance traced its breach to compromised [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":25095,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[23],"tags":[],"kronos_expire_date":[],"class_list":["post-25094","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"_links":{"self":[{"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/posts\/25094","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/comments?post=25094"}],"version-history":[{"count":0,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/posts\/25094\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/media\/25095"}],"wp:attachment":[{"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/media?parent=25094"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/categories?post=25094"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/tags?post=25094"},{"taxonomy":"kronos_expire_date","embeddable":true,"href":"https:\/\/cryptoted.net\/index.php\/wp-json\/wp\/v2\/kronos_expire_date?post=25094"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}