Flash News

TREE NEWS update: Binance has suspended all deposit and withdrawal functions while it conducts a security check, freezes funds and works with law enforcement, the exchange said in a post on X. Binance said it will bear all losses and is working continuously to resolve the issue, and will publish a full post-mortem report once the investigation is complete. The post did not disclose the size of the losses or the nature of the incident.

TREE NEWS reports: Pre-restructuring periods for distressed A-share companies are stretching well beyond a year, with Zhongji Health on Oct. 27 disclosing a fifth extension to Jan. 28, 2027, *ST Kaiyuan’s eighth extension expiring Oct. 23 after more than two years, and Tianbang Food’s process running over 26 months since August 2024. Industry figures attribute the delays to a regulatory shift from preserving listing shells to rescuing underlying businesses.

TREE NEWS update: Binance said customer funds are safe following a security incident, while issuer-imposed freezes are restricting token movements. The exchange has not established how much has been recovered or ultimately lost. No timeline or further details were provided.

TREE NEWS update: Bithumb has confirmed a suspected security issue at Binance and advised users to be cautious when withdrawing crypto assets to the exchange. The South Korean exchange said it is monitoring the situation and may restrict withdrawals to Binance if necessary to protect user assets, with any changes to deposits and withdrawals to be announced separately. Upbit issued a similar warning earlier.

TREE NEWS update: Binance said on Oct. 30 that the total value of frozen assets it has verified stands at $2.54 billion, after figures circulating externally varied, including $1.8 billion. The exchange said the number may keep rising as its team works with law enforcement, issuers, blockchain intelligence firms and industry partners to trace and freeze more assets, and that it will publish only confirmed data. Binance has suspended withdrawals and Binance Alpha trading, saying user funds are safe.

TREE NEWS update: Binance said it has verified a total of $2.54 billion in frozen assets and is working with law enforcement, with more assets potentially subject to freezing. The exchange did not specify the period covered or which cases the frozen funds relate to.

TREE NEWS update: Coinbase has filed to remain authorized under Brazil’s new crypto rules, which take effect Nov. 6 and bar banks and payment firms from conducting crypto operations with unauthorized providers. The amended rule also removes the exemption for firms still awaiting a regulatory decision, meaning Coinbase must secure approval to keep serving the Brazilian market.

TREE NEWS update: Singapore police said tampered Ledger hardware wallets began appearing in the country on September 10, about a month before the incidents drew wider attention. South Korean lawmakers also look set to delay the country’s crypto tax law for a fourth time.

TREE NEWS update: China’s revised regulations on property insurance product development will take effect on November 1, the first systemic overhaul of the rules in nearly a decade. The rules, issued by the National Financial Regulatory Administration, are expected to deepen the cleanup of non-auto insurance lines as disorderly competition cools, leaving small and mid-sized property insurers room to pursue differentiated strategies, particularly in serving technological innovation.

TREE NEWS update: US Senators Elizabeth Warren and John Curtis sent letters to prediction-market platforms Kalshi and Polymarket demanding details on how they prevent insider trading and market manipulation in election betting ahead of next week’s midterms. The lawmakers asked the firms to disclose the number of suspected violations blocked before trades occurred and identified afterward, with written replies due by November 3. They said they remain doubtful the companies can adequately police such event contracts with effective review and real accountability.

TREE NEWS update: Singapore police have linked S$3.5 million in losses to Ledger hardware wallets bought from local retailers, citing preliminary findings of malicious hardware inside the devices. Ledger is reviewing the cases, police said. The losses stem from compromised devices sold through Singapore stores.

TREE NEWS update: Tether has frozen more than 1.567 billion USDT linked to a possible hack of the Binance exchange, Tether CEO said. The figure covers USDT tied to the suspected breach at Binance, one of the largest crypto exchanges by trading volume. No further details on the timing or scope of the suspected hack were provided.

TREE NEWS update: Binance has frozen $3 billion in crypto assets tied to a multibillion-dollar hack, the exchange said, with further freezes possible as investigators trace the funds. The figure covers assets locked in connection with the incident, and Binance said additional freezes may follow as the tracing continues.

TREE NEWS update: HTX, formerly Huobi, has committed to a five-year undertaking restricting crypto promotions in the UK as its case with the Financial Conduct Authority settles via a consent order. The regulator’s lawsuit was stayed under a confidential agreement with no admission of liability. HTX had already posted an Oct. 16 notice keeping UK accounts restricted, 11 days before the consent order.

TREE NEWS update: Sens. Elizabeth Warren and John Curtis have demanded answers from prediction markets Kalshi and Polymarket on their election-trading safeguards, setting a Nov. 3 deadline. The senators asked how many suspected election-trading violations were stopped before trades occurred, among other questions.

TREE NEWS update: CFTC Chair criticized Utah’s prosecution of Kalshi as “blatant overreach” as a federal lawsuit seeks to block the state’s enforcement action against the prediction market exchange. Utah has already secured an initial ruling against Kalshi. The dispute centers on whether state gambling laws can be applied to federally regulated event contracts.

TREE NEWS update: Westpac will limit customers to A$10,000 in payments to identified crypto exchanges per calendar month starting Dec. 1, with no exceptions, and will stop supporting such payments in branches. The Australian bank said it may reject transfers to exchanges it identifies once the monthly cap is reached.

TREE NEWS update: The Federal Reserve Board announced it has approved an application by The Bank of Nova Scotia. The approval was disclosed in a Federal Reserve Board announcement. The notice did not specify the nature of the application or any conditions attached to the approval.

TREE NEWS update: Uber Technologies, Amazon and Instacart filed a federal lawsuit arguing that New York City’s law barring the companies from deactivating delivery workers without cause is unconstitutional. The companies asked the court to block the regulation, set to take effect in January, saying it would cause “immediate and irreparable harm” to app-based businesses by forcing them to disclose sensitive information and retain or reinstate courier accounts.