Flash News

TREE NEWS update: Binance said it has set aside more than $6.34 billion in matching tokens to cover hack losses, with the assets to be included in its next proof-of-reserves report. The exchange disclosed the reserve figure as part of its effort to back user losses tied to security breaches.

TREE NEWS reports: TRM Labs and Chainalysis have attributed the $6.4 billion Binance hack to North Korea’s TraderTraitor group, the same actor behind the Bybit breach. Binance said it has set aside $6.34 billion of its own funds to cover user losses.

TREE NEWS update: China’s National Financial Regulatory Administration has barred trust companies from conducting improper channel business and from operating pooled-fund business under the newly issued Asset Management Trust Measures. The rules require trust firms to manage asset management trusts independently and prohibit them from transferring management duties to other institutions or individuals, or using trust products to facilitate illegal activities. The Measures also cap a single investor’s share in the same trust product and scrap an exemption that had allowed insurance funds to invest in AAA-rated collective trust products.

TREE NEWS update: Douyin removed more than 6,000 violating accounts and deleted over 15,000 videos between Oct. 23 and Oct. 29 as part of a special campaign against fake personas in short videos. The platform targeted five categories of violations, including impersonating vulnerable groups to gain followers, fabricating professional credentials, using AI to fake people for marketing, promoting luxury and superstition, and staging conflicts for traffic.

TREE NEWS update: China’s National Financial Regulatory Administration issued the Asset Management Trust Measures, barring trust companies from promising investors that principal will be preserved or minimum returns guaranteed when managing trust products. The rules also prohibit setting expected yield rates, running investment-banking-style fundraising for financiers under a trust product’s name, operating pooled funds with rolling issuance, collective operation or separate pricing, and facilitating illegal activities for other institutions or individuals.

TREE NEWS update: Binance said a security incident on Oct. 29, 2026, moved roughly $6.3 billion out of its hot wallets, the largest publicly recorded crypto theft. About $3 billion has been frozen, mostly centralized stablecoins, while withdrawals remain paused as of 07:00 UTC Oct. 30, with the exchange expecting to begin restoring service within 48 hours. Binance said it will cover all losses through its SAFU fund and company capital. TRM Labs attributed the attack with high confidence to North Korea’s TraderTraitor group.

TREE NEWS update: China’s National Financial Regulatory Administration said it will steadily advance the reform and risk disposal of small and medium-sized financial institutions, reducing their number and improving quality, while actively supporting the resolution of risks in real estate and local government debt. The pledge came at an expanded party committee meeting that studied the spirit of the 20th Central Committee’s fifth plenary session and set out implementation measures.

TREE NEWS update: The Shanghai Stock Exchange said it took self-regulatory measures against 108 abnormal trading behaviors, including price ramping and false declarations, between Oct. 26 and Oct. 30, 2026. It also conducted special reviews of major matters at 31 listed companies and reported two suspected violations to the China Securities Regulatory Commission.

TREE NEWS update: The Shanghai Stock Exchange issued a regulatory work letter to Jinko Power Technology Co., Ltd. over its purchase of overseas land leasehold rights and related-party transactions, setting out clear regulatory requirements. The letter covers the listed company, its directors, and senior management. No further details were disclosed.

TREE NEWS update: The Shanghai Stock Exchange has completed and launched a bookbuilding module for asset-backed securities issuance, built on the corporate bond module of its existing centralized bookbuilding system for credit bonds. Under the new setup, ABS bookbuilding runs on a centralized system without mandatory centralized venues, and underwriters, bond trading participants and other professional institutional investors recognized by underwriters can access the module directly via the internet to take part in ABS issuance.

TREE NEWS update: Binance estimated total impact of $6.3 billion from unauthorized withdrawal transactions submitted after attackers breached a DevOps engineer’s laptop and entered a service container, with about $3 billion of related assets frozen so far. The incident follows Bybit’s roughly $1.46 billion loss last year and Bitget’s approximately $387.5 million unauthorized transfer in September, with attackers increasingly targeting trust-chain links rather than private keys.

TREE NEWS update: The National Development and Reform Commission’s Party group convened an expanded meeting, pledging to better perform its duties as the macro-management and comprehensive economic department and to advance the orderly implementation of the 15th Five-Year Plan. The commission said it would pursue new progress in macroeconomic governance, modern industrial system construction, deeper reform and opening-up, green and low-carbon development, security capacity, urban-rural and regional coordination, and livelihood protection.

TREE NEWS update: People’s Bank of China Governor Pan Gongsheng chaired a party committee meeting on Oct. 30, 2026, where the central bank pledged to keep implementing a moderately loose monetary policy and to use a mix of policy tools to maintain ample liquidity. The meeting also called for advancing the multi-tiered financial market system, expanding high-level financial opening, and promoting renminbi internationalization and cross-border payment channels.

TREE NEWS update: The Shanghai and Shenzhen stock exchanges published an expanded list for Southbound ETF Connect, adding 10 ETFs including the CSOP Nomura FTSE Hong Kong Japan Equity Cash Flow Focus Index ETF, the CSOP FTSE Asia Technology and Dividend Index ETF and the ChinaAMC Hong Kong-US AI ETF. The change takes effect on November 9, raising the total number of eligible products from 31 to 41 and further diversifying asset types covered.

TREE NEWS update: China’s State Administration for Market Regulation approved and released two new national standards, “Basic Terminology for Biochips” and “Microarray Chips for Detecting DNA Polymorphisms Associated with Human Disease Susceptibility,” effective February 1, 2027. The standards cover terminology and testing methods for biochips used in genetic susceptibility screening.

TREE NEWS update: The National Association of Financial Market Institutional Investors (NAFMII) held a symposium in Suzhou, Jiangsu on October 27, 2026 on interbank market support for advanced manufacturing. Seven manufacturers, including XCMG, JCET and Shenghong Technology, attended alongside three local financial institutions, with NAFMII vice chairman Xu Zhong presiding. NAFMII then visited five companies including Hengtong Group, Lianxun Instruments and Huaxing Yuanchuang to discuss operations and financing needs.

TREE NEWS reports: Binance is cooperating with the FBI and the U.S. Secret Service to investigate a cryptocurrency theft case involving $6.3 billion. The exchange’s collaboration with federal law enforcement centers on the large-scale theft probe, the sources said. No further details on the investigation or the suspects were provided.

TREE NEWS update: Zhu Yicun, former Party Secretary and Chairman of Anhui Energy Group Co., Ltd., has been expelled from the Communist Party of China, the Central Commission for Discipline Inspection and the National Supervisory Commission announced. The Anhui Provincial Commission for Discipline Inspection and Supervisory Commission investigated Zhu for serious violations of discipline and law, with the case filed after approval from the CPC Anhui Provincial Committee.

TREE NEWS update: China’s State Council appointed Zhang Li as deputy international trade representative at vice-ministerial level, removing him from his post as assistant minister of commerce. The same announcement named Wang Shouli as vice-chair of the National Ethnic Affairs Commission and Feng Pengzhi as education chief of the National Academy of Governance, while dismissing Li Zhong from the Ministry of Human Resources and Social Security and Qin Haixiang from the Ministry of Housing and Urban-Rural Development.

TREE NEWS update: Standard Chartered said it provides digital-asset custody through its Luxembourg entity and its Dubai branch in the DIFC. The bank’s custody arrangement covers a mandate for LMAX spanning both jurisdictions, and a separate collateral link would let clients trade against tokens held in bank custody.