CoinDesk

“Singapore and Hong Kong are the two markets that come to mind. But what we’re even more excited about is what’s beyond them: Japan and Korea.” @OnigiriGP, Managing Partner @OnigiriVC and Partner @SaisonCapital, at Stellar’s Meridian 2026

Is the CLARITY Act dead after the midterms? Not so fast. @renato_mariotti: “Realistically there is a chance here now for everyone to come together in the lame duck.” Thank you to @Grayscale 👋 for being a sponsor of the CoinDesk Media Network.

These are sophisticated heists. They’re sitting in the systems for weeks and weeks and weeks.” SEAL researcher @tayvano_ joins @renato_mariotti and @RebeccaRettig1 on this week’s @CoinDesk Policy Protocol to break down the $6.3B Binance hack, the industry’s race to freeze stolen funds, and how fake IT workers get hired. 00:00 - Welcome to The Policy Protocol 01:15 - Unpacking the Midterms: Is the CLARITY Act Dead? 03:12 - A 'Terrible Night for Crypto'? 06:16 - A 'Rump CLARITY' in the Lame Duck? 07:20 - CFTC Approves Stock Perps 10:28 - The $6.3B Binance Hack: SEAL's Taylor Monahan Joins 11:11 - Could Any Rulebook Have Stopped the Binance Hack? 13:01 - Why Hackers Target Crypto, and Why Banks May Be Next 15:20 - Keeping North Korean IT Workers Out 18:52 - Tether, Circle and the Industry-Wide Freeze 22:54 - Why the Feds Want Freezes Without Court Orders 25:00 - Person of the Week: ZachXBT

JUST IN: @Aave acquires fixed-rate lending startup @Avon_xyz, bringing its protocol engineering team and technology in-house as Aave works to add fixed-rate lending to its $33B deposit, $13B active loan platform.

$1 DOGE? $5 XRP? Don’t count on it. @hyblockcapital CEO Shubh Varma says alt season isn’t coming back: “There’s so much other demand.”

Everyone’s bearish on 2027. @hyblockcapital CEO Shubh Varma thinks that’s the setup. “I personally think 2027 will be most likely the opposite of the consensus sentiment.”

Democrats won control of both chambers of Congress, putting the CLARITY Act’s path in doubt after it stalled in the Senate in September. Plus, Bitcoin ETFs see $430 in outflows and Canary Capital launches an INJ ETF. @jennsanasie has what you need to know.

INSIGHT: @VitalikButerin to crypto exchanges after the @Binance hack, “Prioritize survival over market share for the next two years.”

NEW: Russia’s central bank approves $BTC, $ETH and $USDT for purchase by non-qualified retail investors under a 300,000 ruble annual limit per intermediary. Rules take effect November 17 as Moscow Exchange and Sberbank prepare to launch crypto trading December 1.

MACRO: U.S. adds 165K jobs in October, well above the 65K forecast as unemployment falls to 4.1%, putting a December Fed rate hike back on the table and sending the 10-year Treasury yield up 6bps to 4.894%.

JUST IN: Nigeria’s Central Bank introduces stablecoin licensing rules, banning algorithmic stablecoins, requiring separate licenses for naira and foreign-currency stablecoins, and giving existing operators 180 days to comply.

NEW: Hyperliquid Strategies $PURR files to become a CFTC-registered futures commission merchant, aiming to carry U.S. client accounts for permissioned $HYPE perpetual futures markets, as the company reports $620.6M in Q3 net income driven by unrealized token gains.

LATEST: @worldlibertyfi plans a $WLFI token buyback after a 66% year-to-date drop, funding purchases through fees generated by its $USD1 stablecoin reserves.

JUST IN: @Zcash's NU7 upgrade goes live, cutting block time to 25 seconds and reducing wallet scanning work for private $ZEC payments.

MARKETS: Bitcion under $76,000 as stocks close out worst day since April 2025.

Most crypto hacks come down to one thing: someone gets the private keys. @GoogleCloud's @RichJWidmann says Google’s new system never keeps the full key in one place, so there’s nothing whole to steal. “That’s really the magic of it.”