Binance hack plays up crypto’s trust issues

Hi, I'm Tessa Vale. This is the Breaking Update from TheTrendTutor, Monday, November 2.

Here are the headlines. Binance hack plays up crypto’s trust issues.

Strategy Resumes Bitcoin Buys With $66M Purchase.

Our top story: Binance hack plays up crypto’s trust issues.

According to Tether, by moving quickly, Tether stopped the funds before they could be transferred, swapped or laundered.

According to The Block and CoinDesk, Binance users can now independently verify 1:1 backing for BTC, ETH, BNB, SOL, XRP and more as it replenishes 95% of assets lost in record hack.

According to The Block and Benzinga, chairman Tom Lee also addressed the recent $6.3 billion Binance hack.

Next: Strategy Resumes Bitcoin Buys With $66M Purchase.

According to The Block and Cointelegraph, ‘We found room for even more orange’: Michael Saylor’s Strategy scoops up another 811 bitcoin for $65.5 million.

Bitcoin is down 1.0 percent over 24 hours, at $77,317.

Quick hits.

Brazil's Largest Exchange Mercado Bitcoin Halts Withdrawals After $40 Million Hack, Decrypt reports.

Standard Chartered debuts tokenized deposits in Hong Kong for corporate clients, CoinDesk reports.

U.S. Treasury, European Bond Yields Fall as Oil Prices Drop, WSJ reports.

Let’s check the market.

Bitcoin trades at $77,317, down 1.0 percent in 24 hours, in a range between $77,268 and $78,878.

Ether is at $2,261, down 0.3 percent.

Biggest movers among large caps: NEAR down 8.4 percent, Ethena down 7.2 percent, Aave down 6.1 percent.

In derivatives, Bitcoin's funding rate is 0.0100 percent per eight hours, and open interest on Binance is $7.6 billion, down 0.5 percent over 24 hours.

The Crypto Fear and Greed Index reads 37, fear.

What to watch next, all times UTC.

Tuesday: U.S. midterm elections.

Tuesday at 03:30 UTC: Australia RBA Interest Rate Decision, forecast 4.85%, previous 4.60%.

Tuesday at 15:00 UTC: U.S. JOLTs Job Openings, forecast 7.13M, previous 7.08M.

That’s the brief. Subscribe, and watch us live 24/7. Live prices at thetrendtutor.com.