Flash News

TREE NEWS update: The U.S. Secret Service said its investigators are working around the clock with private-sector partners including Circle to identify, freeze, trace and recover funds stolen from Binance, a spokesperson said. The agency is coordinating with the U.S. Attorney’s Office for the District of Columbia and law enforcement partners to identify and prosecute the cybercriminals involved. Binance is working with the FBI and the Secret Service on an investigation into a $6.3 billion crypto theft case.

TREE NEWS reports: A recap of live coverage of the Binance hack traces the early breach reports and the exchange’s pledge to fully reimburse users, with the incident put at a record $6.3 billion. The item recounts how the hack unfolded from first reports through the reimbursement commitment.

TREE NEWS update: Two Texas brothers were sentenced Friday to 15 years in prison for holding a Minnesota family at gunpoint for nine hours to steal $8 million worth of cryptocurrency. The home invasion, in which the family was held captive, targeted the victims’ digital assets. The sentence was handed down following their conviction in the case.

TREE NEWS update: CFTC Chairman Michael Selig, commenting on the Binance hack, said the agency wants to offer crypto exchanges a federal option to register with the CFTC. “We can do that first,” Selig said, framing registration as an alternative path for exchanges. He did not specify a timeline or which exchanges would be eligible.

TREE NEWS update: The U.S. Secret Service said investigators are working with private-sector partners including Circle to identify, freeze, trace and recover funds stolen from Binance, coordinating with the U.S. Attorney’s Office for the District of Columbia and law enforcement partners to identify the cybercriminals responsible. The investigation is at an early stage and more information will be provided when appropriate.

TREE NEWS update: China and Switzerland will each further lower tariff levels on nearly 300 tariff lines under their upgraded free trade agreement, China’s Ministry of Commerce said. The two sides reached high-level tariff reduction outcomes in goods market access, building on the original FTA. Under the latest arrangement, zero-tariff products will ultimately cover more than 99% of bilateral trade value.

TREE NEWS update: The U.S. Federal Bureau of Investigation will coordinate the investigation into the hack of cryptocurrency exchange Binance, the bureau said. The FBI is taking the lead in coordinating the probe into the attack on the exchange. No further details on the scope of the investigation or the losses involved were provided.

TREE NEWS update: Binance executive Teng set a Monday deadline for the exchange’s reserve report while withdrawals remain paused, saying the Sunday restart target is still on track within 40 hours but that reopening depends on the rebuilt service passing testing. The reserve report deadline and withdrawal restart both hinge on the platform’s systems clearing checks.

TREE NEWS update: China’s Commerce Ministry voiced strong opposition after the U.S. Federal Communications Commission voted on Oct. 29 to bar testing labs, telecom certification bodies and accreditation organizations based in China and other so-called “non-reciprocal economies” from FCC-related work starting Dec. 1, 2028. A ministry spokesperson said the measure harms Chinese and other trading partners, disrupts global supply chains and that China has already taken countermeasures.

TREE NEWS update: China and Switzerland signed a protocol upgrading their free trade agreement, revising eight existing chapters including trade in goods, rules of origin, customs procedures, technical barriers to trade, trade in services, investment, competition and economic cooperation, and adding two new chapters on digital trade and trade and sustainable development. The protocol text comprises a preamble, the new and updated chapters with related annexes, and general provisions.

TREE NEWS update: Uniswap, Andreessen Horowitz (a16z) and the DeFi Education Fund are asking Illinois to exempt wallet withdrawals and cross-chain bridging from a proposed crypto tax calculated on asset value. The groups also want the state to drop a recordkeeping requirement tied to private keys, arguing the rules as drafted would burden DeFi users and infrastructure providers.

TREE NEWS update: China’s State Administration of Foreign Exchange (SAFE) pledged on Oct. 30, 2026, to maintain forex market stability and safeguard national economic and financial security, following a party group meeting chaired by administrator Zhu Hexin. The regulator said it will implement the 15th Five-Year Plan by improving a more convenient, open, secure and smart FX management system, deepen reform and high-level opening in the FX sector, and crack down hard on illegal cross-border financial activities.

TREE NEWS update: National Medical Products Administration Deputy Commissioner Yang Sheng led a team to Guangdong to inspect drug R&D companies and the NMPA’s Greater Bay Area drug and medical device review centers, and held a symposium on translating pharmaceutical innovation and regulatory work in the region. Yang called for aligning review and inspection work with national development strategy and supporting the Guangdong-Hong Kong-Macao Greater Bay Area’s goal of becoming a world-class bay area.

TREE NEWS update: The 10th Shanghai-Hong Kong Financial Cooperation Working Meeting was held in Shanghai on October 30. Li Junjie, executive deputy director of the General Office of the CPC Shanghai Municipal Financial Commission, and Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury, attended along with representatives from financial regulators and financial infrastructure bodies from both cities.

TREE NEWS update: Binance said it has set aside $6.34 billion in assets to cover losses from a major hack that it says resulted in roughly $6.3 billion in stolen assets. Around $3 billion of the stolen funds has been frozen, the exchange said. The figures were disclosed in live updates on the incident.

TREE NEWS update: Binance is working with law enforcement, including the FBI, to recover assets following a $6.3 billion hack, the exchange said. More than $6.3 billion has been set aside from company funds to cover the shortfall, and $3 billion is currently frozen as recovery efforts continue.

TREE NEWS update: Hong Kong Securities and Futures Commission Chairman Tim Lui told the Hong Kong Securities Association’s 47th anniversary financial innovation forum that the financial industry needs not just artificial intelligence but “Accountable Intelligence.” In a keynote speech, Lui urged institutional executives to take accountability for AI, framing responsibility as central to the technology’s use in finance.

TREE NEWS update: Hu Jinglin, head of China’s State Taxation Administration, chaired an expanded party committee meeting that called on tax authorities to advance tax compliance management steadily and deepen reform of tax collection and administration. The meeting urged authorities to levy taxes and fees in accordance with the law and to firmly hold the line against collecting excessive or improper taxes and fees.

TREE NEWS update: Israel’s Supreme Court has cleared the extradition of an alleged Nomad Bridge exploiter to the United States over a $2.8 million theft, ruling that exploiting a coding flaw can constitute computer intrusion even when the software permitted the transaction. The decision allows US authorities to prosecute the suspect for the 2022 bridge exploit.

TREE NEWS update: The European Central Bank has asked European Union leaders to start the process of finding a successor to its chief economist, Philip Lane. The request was made to EU leaders, though no timeline or candidate names were given. Lane, a former Irish central bank governor, has served as the ECB’s chief economist since 2019.