Crypto Morning Brief: Balancer attacked, Wintermute denies suing Binance
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Crypto Morning Brief: Balancer attacked, Wintermute denies suing Binance
"Cryptocurrency and Blockchain" makes it onto TIME's list of the 300 Best Inventions of 2025.
Navigating Web3 tides with focused insightsAuthor: TechFlow
Yesterday's Market Dynamics
Trump: There's only one thing I care about—can we be number one in cryptocurrency?
According to Cryptopolitan, U.S. President Trump said in an interview: "There's only one thing I care about—can we be number one in cryptocurrency?"
Fed's Austan Goolsbee: The bar for rate cuts is higher now than at the previous two Fed meetings
According to Jinshi Data, Austan Goolsbee of the Federal Reserve stated that the economy still has the potential to follow a golden path. He believes interest rates will eventually stabilize at levels significantly below current levels.
As inflation declines, interest rates should be lowered. He feels uneasy about premature rate cuts. Inflation data remains concerning. No decision has been made on what action the Fed will take at its next meeting; currently, the threshold for rate cuts is higher than it was at the previous two Fed meetings.
PBOC Vice Governor Lu Lei: Building blockchain platform to advance Hong Kong cross-border payment cooperation
Lu Lei, Deputy Governor of the People's Bank of China (PBOC), said during Hong Kong Fintech Week that the PBOC attaches great importance to cross-border payment collaboration with Hong Kong and is actively promoting interconnectivity between the two regions' payment systems. Lu noted that the PBOC continues to expand the offshore operations of the Cross-Border Interbank Payment System (CIPS). In June this year, the "Cross-Border Payment Connect" was successfully launched, and a unified cross-border QR code gateway has already been established. Going forward, further exploration will be conducted into using digital RMB for cross-border payments, including advancing multilateral central bank digital currency bridge initiatives and building a dual platform combining blockchain and digital assets, providing greater convenience for economic integration between the two regions.
Wintermute founder denies rumors of lawsuit against Binance
Evgeny Gaevoy, founder of Wintermute, clearly stated on social platform X that the company has never planned to sue Binance and sees no reason to do so in the future. Regarding market rumors about signing a non-disclosure agreement (NDA) with Binance and jointly filing a lawsuit with other market makers, Gaevoy firmly denied them, calling these claims "baseless rumors." Although some users mentioned that Gaevoy had hinted market makers might take legal action against Binance, he emphasized that Wintermute is not involved.
Balancer: This vulnerability is limited to V2 Composable Stable Pools
Balancer protocol issued an announcement confirming that its V2 Composable Stable Pools were exploited by a vulnerability. The Balancer team has partnered with top security researchers to investigate and pledged to share a full post-mortem report as soon as possible. Currently, all suspendable affected pools have been urgently frozen and placed into recovery mode. Balancer emphasized that this vulnerability is confined solely to V2 Composable Stable Pools and does not impact Balancer V3 or other pool types. The team also warned users to beware of scam messages impersonating the Balancer security team; official updates will only be released via its official X (Twitter) account and Discord server.
Binance Futures to delist KDAUSDT and several other perpetual contracts
According to an official announcement, Binance Futures will delist multiple perpetual contracts, with the following schedule:
November 6, 2025, 09:00 (UTC): USDⓈ-M KDAUSDT perpetual contract
November 7, 2025, 09:00 (UTC): COIN-M AXSUSD and THETAUSD perpetual contracts
Users will be unable to open new positions within 30 minutes prior to each delisting (i.e., at 08:30 UTC respectively). Binance advises users to manually close their positions before contract delisting to avoid auto-settlement. During the final hour before settlement, the Futures Insurance Fund will no longer support the liquidation process, and positions failing to meet margin requirements will be handled through the ADL (Auto-Deleveraging) mechanism.
CZ: Giggle token is not officially issued by Giggle Academy, but pleased by large donations generated
Binance founder CZ posted on social media stating that the meme coin Giggle is not the official token of his educational project Giggle Academy, and he doesn't know who issued the token. However, he expressed pleasure over the substantial donations generated by the token and was unsurprised to see Binance donating its trading fees.
"Cryptocurrency and Blockchain" featured on TIME's 2025 list of 300 Best Inventions
U.S. magazine TIME released its 2025 list of "300 Best Inventions," featuring cryptocurrency and blockchain alongside artificial intelligence, robotics, wearable technology, and other cutting-edge fields.
TIME highlighted that cryptocurrency and blockchain are driving transformation across industries such as finance, security, and digital ownership.
Ripple acquires Palisade to fully expand digital asset custody business
Ripple announced the acquisition of Palisade, a digital asset wallet and custody firm, further strengthening its custody capabilities. This acquisition enables Ripple to offer more comprehensive digital asset solutions to fintech companies, crypto-native businesses, and traditional enterprises.
Palisade’s “wallet-as-a-service” technology features multi-party computation (MPC), zero-trust architecture, and multi-chain support, designed specifically for high-frequency trading and fast value transfer.
Ripple President Monica Long stated: "Secure digital asset custody is foundational to the crypto economy and central to Ripple’s product strategy." Currently, Ripple Custody is trusted by leading global financial institutions including Absa Bank, BBVA, DBS, and Societe Generale-FORGE.
Stablecoin developer Standard Money raises $8 million, led by Yzi Labs
According to CoinDesk, Standard Money, developer of the BNB Chain-based stablecoin USDsd, has completed an $8 million strategic investment round.
The funding was led by Yzi Labs, with participation from Gate.io, Crypto.com, and Animoca Brands. The funds will support Standard Money’s mainnet launch and expand its liquidity partnerships and global operations.
U.S.-listed Tharimmune completes ~$540 million private placement, to establish Canton Coin treasury strategy
According to PRNewswire, Nasdaq-listed Tharimmune, Inc. (NASDAQ: THAR) announced the completion of a private placement raising approximately $540 million at $3.075 per share. The round was co-led by DRW and Liberty City Ventures, with participants including ARK Invest, Bitwave, Broadridge, Clear Street, Copper, Digital Asset, Polychain Capital, SBI Group, Kraken, and others. The Canton Foundation also participated in the financing.
The company plans to use net proceeds to acquire Canton Coin (CC) tokens—the utility token supporting interoperability and settlement on the Canton Network. Tharimmune will operate as a super validator and run additional validators on the Canton Network to earn more CC tokens.
Market Update
Suggested Reading
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Real Cryptocurrency Died Long Ago
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Revisiting Warplet: How a Tiny NFT Sparked the Farcaster Craze?
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x402 and Technological Resonance: A New Narrative Brewing
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