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Blockchain

2 November 2026
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19:43

A permission meant only to destroy tokens on the XRP Ledger can, in certain cases, create new ones, and the fix needs validators to hold their support until Wednesday.

Key Takeaways

Delegation went live on Mainnet on October 8.
Only the PaymentBurn permission carries the minting risk.
33 of 35 trusted validators back the fix.
The flaw cannot create new XRP.

The official XRPL documentation advises account holders not to delegate the PaymentBurn permission until an amendment called fixCleanup3_4_0 is enabled on the network.

What a Burn-Only Delegate Was Meant to Do
Permission delegation lets an account hand specific jobs to a second account, which signs with its own keys. XRPL’s documentation is explicit about the purpose: routine work runs on keys kept online, while the keys with full control stay offline for special tasks such as issuing tokens. Our guide to XRPL’s delegated account controls covers how institutions might split those roles.

Two of the ledger’s twelve granular permissions deal with token supply. PaymentMint covers payments that create fungible tokens or Multi-Purpose Tokens (MPTs). PaymentBurn covers payments that destroy them, and the documentation sets its boundary precisely: burning stops at a zero balance.

The flaw sits at that boundary. Before the fix, a payment sent under PaymentBurn could, in certain circumstances, run past zero and issue new trust-line tokens or MPTs. fixCleanup3_4_0 rejects any burn-only delegated payment whose amount would cross into minting, unless the same delegate also holds PaymentMint. The other eleven granular permissions are unaffected.

That makes the bug narrow in reach and awkward in what it touches. Only an account an issuer has already chosen as a delegate can use it, but what it unlocks is issuance, the one task delegation was designed to keep behind offline keys.

Cold Storage Doesn’t Cover a Delegate’s Keys
Delegated transactions are signed with the delegate’s own master key, regular key or multi-signing list. An issuer can keep its main credentials entirely offline and still be exposed if a delegate holding PaymentBurn is compromised, misconfigured or acts outside its brief.

For a fiat-backed token, the economic risk is units in circulation without matching reserves. A reserve attestation shows the assets held against outstanding tokens on a reporting date. It says nothing about which accounts could change that count between reports, and that is the control this flaw weakens.

Delegation Launched Before Its Fix Had the Votes
This is the second flaw found in XRPL’s delegation feature. The original version was pulled in 2025 after a community tester discovered on devnet that it could charge transaction fees to accounts that had not signed, and the official disclosure confirms it never reached Mainnet. Its replacement, PermissionDelegationV1_1, went live on October 8, according to XRPL’s amendment dashboard, while the PaymentBurn correction was still gathering validator support.

Exposure is therefore account by account: only issuers that granted PaymentBurn since launch are affected. Every grant is public, because Delegate ledger entries record the granting account, the delegate and its permission list. At the time of writing, neither the XRPL documentation nor published reporting identifies an affected issuer or any misuse.

A supply increase on its own would prove nothing, since an issuer may have granted PaymentMint deliberately. What would need explaining is a delegate holding only PaymentBurn whose payments added tokens.

What Issuers Can Check Before Wednesday
XRPL’s published advice is to stop delegating PaymentBurn until the fix is enabled. For issuers that have already granted it, the work runs in this order:

Pre-activation checklist

Pull every Delegate entry on the issuing account and flag any permission list containing PaymentBurn.
Resend DelegateSet with the complete list to keep. A new list replaces the old one, so anything left off is removed.
Treat a grant as revoked only once the change appears in a validated ledger.
Audit the delegate’s past payments separately, because revoking authority stops future use without reversing earlier transactions.
Delegate PaymentBurn again only after fixCleanup3_4_0 shows as enabled on Mainnet.

Why the Vote Can Still Slip
Under the official amendment rules, a change needs a supermajority of trusted validators held for two uninterrupted weeks. With 35 validators in the tracked set, that threshold is 29, and falling below it resets the clock. That reset has already happened once:

October 21

Support fell to 26 validators, pushing back an October 23 activation projection, CoinDesk reported.

November 2

33 of 35 trusted validators back the fix after support recovered.

November 4, around 14:46 UTC

Earliest activation window, provided support stays at 29 or above.

Even with support intact, 14:46 UTC marks when the window opens. Activation happens at a ledger voting checkpoint, so the change can take effect some time after that.

Validators are also voting on far more than this one correction. fixCleanup3_4_0 bundles 25 changes across vaults, lending, automated market makers, NFTs, escrow and sponsorship, and the PaymentBurn fix is the last item on its list. It patches lending code without switching on the Lending Protocol itself, which has its own amendment still open for voting.

For issuers, the confirmation that counts is fixCleanup3_4_0 listed as enabled on Mainnet. Until then, a PaymentBurn grant carries more authority than its name describes.

Author

Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP.
Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem.
To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem.
His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.

Binance has completed a comprehensive zero-knowledge proof-of-reserves verification for ten leading cryptocurrencies in response to the $6.3 billion security breach that recently impacted the exchange. This process enables customers to independently confirm that their holdings in Bitcoin, Ethereum, USDT, BNB, Solana, USDC, XRP, USD1, RLUSD, and Zcash are fully backed by Binance’s reserves.

The verification is based on a reserve snapshot taken at 00:00 UTC on October 31, shortly after the large-scale theft was discovered. Binance applied a combination of Merkle tree data structures and zk-SNARK cryptography, which allows users to examine whether their balances were included in the reserves without disclosing confidential information. The exchange confirmed that each of the verified cryptocurrencies is supported by at least 100% reserve coverage.

This latest development comes after days of uncertainty, during which Binance replenished approximately 95% of the affected assets using corporate funds and insurance reserves. As of now, 5% of the impacted cryptocurrencies, largely composed of less-liquid tokens, have yet to be fully replaced. Binance stated that it will absorb the financial loss associated with the remaining assets and confirmed that customers will not be required to cover outstanding amounts.

Binance has also responded to pressure from investors following the reopening of withdrawal services, which led to net outflows of roughly $4.7 billion. Investigation into the stolen assets continues, with particular attention on two traced XRP transfers totaling nearly $101 million on November 2. While the proof-of-reserves verification demonstrates strong asset backing for customer balances, these measures do not guarantee that the stolen cryptocurrencies have been recovered or returned to the platform.

The exchange plans to conduct another reserve snapshot on November 4 to expand coverage to additional assets. Creating the corresponding cryptographic proofs for this broader set is projected to take 40 to 50 hours.

Investigation into the incident has placed a spotlight on Binance’s internal controls and wallet management infrastructure as the firm seeks to reinforce investor confidence after the hack.

For users following abrupt asset movements and shifting reserves, tools with live news monitoring and real-time charting can be crucial. CryptoAppsy offers such functionalities, allowing traders to stay updated on reserve changes and key transaction flows for major coins without switching between multiple platforms.

Proof of Reserves Limitations RemainDespite being an important step for transparency, proof of reserves cannot establish full solvency for an exchange.

Cryptographic verification covers only a snapshot and can confirm that identified assets matched reported customer balances at the specified moment. However, it does not capture the full extent of the exchange’s corporate liabilities, any obligations that exist outside its disclosed platform, or future liquidity needs.

Proof of reserves is a valuable tool for accountability, but it is not a substitute for a complete audit of all obligations and off-balance sheet exposures.

This distinction is significant as Binance works to restore trust in the aftermath of the breach, which contributed to a sharp decline in the value of BNB and increased volatility across the cryptocurrency market.

Crypto analyst Bitcoin Boy, known as @btcbox123 on X, has identified $30 as his price target for XRP, firmly dismissing the much higher predictions, including the triple-digit and $400 levels, that have circulated in the community. “I don’t think XRP will hit $400 either, but I do think $30 is pretty realistic,” the analyst wrote to his followers.

The case for $30: Channel and chart patternsAccording to Bitcoin Boy, the foundation of the $30 outlook comes from XRP’s long-standing trajectory within an ascending price channel that has been in place since 2014. The digital asset has repeatedly formed symmetrical triangle patterns along this path, which have historically preceded significant price rallies. This sequence occurred before the 2017 surge, during the 2021 rally, and once again during a 500% move in late 2024.

Currently, XRP is positioned at the apex of another such triangle within the channel. The technical structure mirrors those that preceded the last three major breakouts, and Bitcoin Boy suggests this setup could signal the approach of a new all-time high.

XRP’s latest formation at the tip of a symmetrical triangle inside its long-term ascending channel closely resembles previous breakout patterns. Each past instance saw the price climb sharply after similar setups.

How the $30 target was calculatedThe $30 price target is based on the asset’s historical tendency to approach the upper limit of its long-term ascending channel during each bullish cycle. Bitcoin Boy argues that, following this pattern, XRP could again reach the top band before facing a pullback, similar to past rallies.

With XRP trading near $1.24, achieving the $30 mark would require a rise of more than 2,300%. The analyst describes this target as a realistic reflection of structural chart behavior rather than outsized speculation.

AnalystPrice TargetBasisBitcoin Boy$30Long-term ascending channelCommunity (various)$400 to $1,000Speculative forecastsStanding apart from bolder projectionsSeveral community members have cited targets of $400 or even $1,000 for XRP. Bitcoin Boy distances his forecast from these towering numbers, emphasizing that the $30 call is grounded in technical analysis and the proven track record of the chart’s structure. He highlights that hitting this level would still result in substantial gains for early investors, without relying on speculative extremes.

Bitcoin Boy distinguishes his $30 price forecast from other bullish projections by basing it solely on chart patterns observed in past cycles, not on theoretical scenarios.

At a technical turning pointThe current technical situation has compressed XRP’s price into a critical decision zone within a symmetrical triangle pattern. On three previous occasions, similar formations led to substantial price increases. Bitcoin Boy says he remains committed to his XRP position as the chart unfolds, believing the risk-reward profile justifies his conviction.

Mini dictionary: Symmetrical triangle — This chart pattern features converging trendlines that typically precede a significant price movement once resolved. In crypto markets, symmetrical triangles often indicate consolidation before a sharp breakout in either direction.

Bitcoin Boy, active in the crypto market since 2017, says he has experienced several of XRP’s dramatic surges firsthand and remains optimistic about its next major rally.

Cyber Capital fund manager Justin Bonds criticized recent developments in the XRP Ledger, focusing on the management of software upgrades and the role of validator lists. The concerns center on how developers handle critical vulnerabilities and the extent of control that network operators and default node lists exert on the ecosystem.

XRP Ledger Vulnerability and ResponseDr. Stevenson, a researcher active in the blockchain space, reported that an overflow vulnerability was discovered on September 22 through the XRP Ledger’s official bug bounty program. This bug, reportedly present since 2015, could have enabled attackers to obtain XRP fraudulently or generate unauthorized tokens.

In response, developers released version 3.4.1 of the XRP Ledger software on September 25. However, they initially withheld the complete fix code from the public. On that same day, a significant majority of the network’s validators—over 80%—upgraded to the new version. Two weeks later, on October 9, a protocol amendment was activated, leading to the disconnection of nodes that had not yet updated.

Following the incident, Dr. Stevenson indicated that a ledger audit was conducted to determine whether any unauthorized XRP had been created or exploited via the vulnerability. She stated that the audit did not find evidence of exploitation. Details about the specific auditor or access to the full report were not disclosed.

Dr. Stevenson said that the overflow flaw existed since around 2015 and could have allowed attackers to obtain XRP or create tokens without authorization, yet the audit showed no evidence such exploitation occurred.

Mini dictionary: Overflow vulnerability, a software programming error where a calculation produces a value that exceeds the storage capacity of a variable, potentially allowing attackers to manipulate balances or create unauthorized assets.

Comparison with Other Blockchain ResponsesDr. Stevenson contrasted the XRP Ledger incident with how Bitcoin Core developers handled a similar vulnerability in 2018. In that case, developers first disclosed a risk of system crashes and delayed revealing the full extent of potential inflation vulnerabilities, giving users more time to upgrade securely.

NetworkVulnerability DisclosureTiming of Public FixAudit ResultXRP LedgerInitial notification about vulnerability, full fix code release delayedFix ready within 3 days, amendment after validator upgradeNo unauthorized XRP creation detectedBitcoin CoreCrash risk disclosed, inflation risk withheld temporarilyPhased disclosure to ensure upgradeNo inflation exploit reportedValidator Influence and Network DecentralizationThe discussion also addressed the influence of Unique Node Lists, which most operators use by default to select trusted validators. Dr. Stevenson observed that while operators may choose any list, recommended lists still shape network consensus. Ripple, the financial technology company behind the XRP Ledger, runs only one validator on the widely used list.

To implement major changes, more than 80% of main validators must support a new amendment for at least two weeks. These requirements make it difficult for a single party to unilaterally change the ledger’s rules, though the influence of recommended validator lists remains a topic of debate among stakeholders.

Safeguards such as the 80% amendment threshold and voluntary Unique Node Lists mean Ripple cannot single-handedly alter consensus rules, but ownership of validator lists still plays a significant role in influencing defaults.

Calls for Transparency and Ongoing ScrutinyCritics have argued that full transparency through the publication of the complete fix code and detailed technical documentation is necessary to thoroughly assess the incident. Both the prompt code release and a comprehensive technical write-up are seen as critical for restoring confidence in the platform and clarifying whether user funds were ever at risk.

New funded accounts more than doubled the recent daily average, though no clear catalyst has emerged

The XRP Ledger picked up 7,934 new wallets on November 1, its sixth-highest daily total of 2026.

The jump also stands out against recent history. Research compiled on the activity puts November 1 as the busiest day for new account activations since late September.

What the numbers show
Estimates for the day vary slightly depending on the data source. The research findings place new funded accounts somewhere between 7,734 and 7,962 on November 1, a range that brackets the 7,934 figure.

The recent 30-day average sits at around 3,500 new accounts per day, so November 1 came in at more than double the typical pace.

The spike did not arrive out of nowhere. On October 31, the network logged 4,772 new wallets, which already cleared the 30-day average by a comfortable margin before November 1 nearly doubled that day’s tally again.

The broader wallet count was also climbing. Total non-empty wallets on the XRP Ledger reached a record 8.24 million by the end of October.

Price stayed put while activity moved
The wallet growth happened without any matching move in XRP’s price. Around November 2, XRP traded between $1.25 and $1.31.

The research findings note that no specific catalyst for the surge has been identified. There was no headline announcement, no listing event and no single launch that clearly explains the inflow.

Possible drivers floated in the research include growing interest in tokenized assets or decentralized finance (DeFi) applications built on the XRP Ledger, though none of these has been confirmed as the cause.

Why wallet counts deserve a footnote
Before anyone reads 7,934 new wallets as 7,934 new people, there is an important caveat. These figures track funded ledger addresses, not unique users.

One person, exchange or business can control many accounts. A single entity spinning up dozens of addresses for operational reasons would show up in the data exactly the same way as dozens of first-time users.

Funding an account on the XRP Ledger requires actually sending XRP to it, so each activation reflects at least some deliberate action rather than an address generated and forgotten.

What this means for XRP watchers
The research findings frame the activity as a possible sign of renewed interest in the XRP network, even amid a volatile market. They also suggest that engagement on the ledger may be becoming less tied to speculative trading, given that it rose while price went nowhere.

The research is explicit that it remains to be seen whether this jump marks the start of a sustained growth phase or turns out to be an isolated event.

Earlier spikes in October showed similar patterns, which supports the idea of a broader upward drift in activations through 2026.

Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.

TL;DR

Base lists November 5 at 18:00 UTC for mainnet activation. Denim introduces native blocks at a 200-millisecond cadence. Applications using Flashblocks must prepare for a different stream. Base has put a specific time on its next network upgrade: November 5 at 18:00 UTC. The network’s status notice says mainnet is expected to remain operational through the Denim maintenance window and tells node operators to install the required release before activation.

For applications, the headline change is a shift to native blocks every 200 milliseconds. That is more than a quicker progress indicator: software that reads blocks, receipts and timestamps has to understand what the new cadence means.

Complete blocks arrive more often Base’s Denim documentation describes a move from one canonical block every two seconds to five complete blocks each second, replacing Flashblocks. Applications following the earlier stream need to migrate to canonical block and RPC streams.

The distinction matters because applications build assumptions around the data they receive. A block identifier can be used to organize receipts, update a balance or decide when to refresh a trading screen. Increasing the frequency changes how often these processes run even if the underlying business action remains the same.

For an exchange, that can mean more updates to process between two user interactions. For an indexer, it means more block records and more frequent state changes. The challenge is keeping the application responsive without turning a faster chain into a backlog inside its own infrastructure.

Faster observation is not the same as final settlement Users often encounter several forms of confirmation that look similar in an interface. An application can display a submitted transaction, show that it has entered a block and later treat the result as sufficiently settled for its own purpose. Those are separate decisions.

A shorter block interval may improve the time to observe execution. It does not, on its own, establish how every bridge, exchange or financial application should handle finality. Those services have additional rules governing when a result can be relied on or a balance released.

The practical test is therefore end-to-end. A wallet that receives a faster network update but waits on a slow backend may show little improvement. A trading application that makes correct use of the new stream could offer a more immediate experience without claiming that all settlement risks have disappeared.

Time handling deserves particular attention Denim also introduces millisecond-aware time information while preserving existing seconds-based fields. That creates a compatibility issue for systems whose logic assumes that a new block always brings a new whole-second timestamp.

Suppose an application groups events solely by the timestamp it has always stored. Multiple blocks can fall into the same second. If the application mistakes that shared value for a unique ordering key, it could merge unrelated records or process them in the wrong order.

This is an application-design example, not a report of an existing Base defect. It illustrates why support for a faster network requires more than changing a displayed number. Storage schemas, ordering rules and monitoring should all reflect the data actually provided.

Readiness has a user-facing consequence Operators need to follow the official release requirements, while product teams need to check the assumptions in their own integrations. The node notice and application documentation answer different parts of that preparation.

The strongest evidence after activation will be stable block production, correctly indexed activity and normal handling of deposits, withdrawals and contract interactions. Those outcomes matter more to users than a theoretical throughput comparison.

Denim is scheduled infrastructure work, not an event that has already occurred. If the activation proceeds as planned, Base applications will have a different foundation for presenting transaction progress. Whether users notice a smoother service will depend on how well the surrounding software keeps pace with it.

Written by the News Desk and edited by Samuel Rae.

Bitmine (NYSE: BMNR) stock price was down slightly at the time of writing to trade at $20.14. The slight drop occurred after Bitmine announced another purchase of Ethereum (ETH), which brought the company’s entire ETH holdings to 6.06 million tokens.

Source: TradingView While revealing the company’s recent purchase, Bitmine Chairman Tom Lee also opined that the recent $6.3 billion hack on the Binance exchange was bullish for the crypto market.

The charts further show that BMNR stock has established support at $20 after dropping to a ten-week low, but the momentum is still heavily leaning on the bearish side.

Bitmine Nears 5% ETH Holding Target With Recent Purchase In a recent press release, Bitmine noted that they had purchased 8,573 ETH in the week between October 26 and October 30. Per the statement, last week’s purchase brought the company’s entire Ethereum holdings to 6,060,506 ETH, which is equivalent to 4.9% of the total Ethereum supply.

As CoinGape reported earlier, Bitmine is planning to halt ETH purchases after it gets to the “Alchemy of 5%.” So far, the company is less than 1% shy of achieving this goal, with each purchase flipping bullish for BMNR stock price.

Bitmine has also revealed that it has staked 5,227,037 ETH, that is worth around $11.8 billion. This marks the highest ETH staked by any company globally.

In its Q3 2026 earnings, Bitmine revealed that staked ETH contributed to 98% of its $45.7 million revenue reported during the quarter. The company will release its Q4 2026 earnings on November 20.

Tom Lee Reiterates Bullish Bet Despite Binance Hack According to Lee, the muted reaction by the crypto market despite the hack on Binance suggests that a “crypto bull market is underway.”

Lee’s bullish outlook comes despite a massive plunge in the crypto fear and greed index from 68 in Late October to 37 at the time of writing, suggesting that the market is in a state of “fear.” This drop is usually bearish for crypto stocks such as BMNR.

Source: Fear and Greed Index However, in another X post, Lee outlined several reasons why the crypto market may be nearing a bottom. These include falling yields and oil prices, a cautious sentiment and stock prices nearing a market bottom during a US midterm election cycle.

BMNR Stock Price Prediction Signals Rebound is Unlikely in the Near Term The weekly chart for BMNR stock price shows an ongoing bearish reversal. The stock has even created a rounded top pattern on this higher timeframe, confirming an ongoing shift.

BMNR stock price needs to remain above the support at the 38.2% Fib of $18.93. A breakdown below this support might trigger another wave of selling pressure, forcing the price down further towards $15.

On the upside, the main resistance level to watch is the 61.8% $22. Closing above this resistance may suggest a resumption of bullish trends.

The MACD line on this weekly timeframe has also dropped below the signal line, with this move also suggesting that bears are gaining control.

Source: TradingView The trend remains the same on the shorter four-hour timeframe, where technical indicators are also making a bearish thesis.

The RSI sits at 36 to suggest that the overall trend is bearish. The CMF has also been rejected in its attempt to create a higher high, and has dropped back to negative. This move suggests that the selling pressure remains high.

Source: TradingView This four-hour setup suggests that the gains recorded today after the recent ETH purchase may be short-lived because the underlying trend aroud BMNR stock remains bearish.

Table of contents

BitMine Immersion Technologies (NYSE: BMNR) opened its Sunday disclosure with a single number that rearranges the public-crypto-treasury leaderboard: $14.5 billion. The Norwalk, Connecticut company — a Bitcoin and Ethereum network operator chaired by Tom Lee — said its crypto holdings, cash, marketable securities, and a pair of equity stakes it labels its “moonshots” now total that figure, anchored by 6,060,506 ETH. At the $2,261-per-ETH price the company used for the filing, that ether position alone is worth roughly $13.7 billion, and it keeps BitMine as the largest Ethereum treasury on earth while lifting it to the number-two spot among all public crypto holders, behind only Strategy Inc.

The figures come from a press release BitMine issued on November 2, covering balances as of November 1 at 4:00 p.m. ET. The same release states BitMine’s ether stake now equals 4.9% of the 122.2 million ETH in circulation, and that the company is 99% of the way to the “Alchemy of 5%” — its stated goal of owning 5% of all ether — in just 15 months.

The last time BlockchainReporter tracked BitMine’s treasury, in late September, the company had just crossed the 6 million ETH threshold. Six weeks later the accumulation has continued, and this disclosure adds detail that was not previously public: a precise line-by-line breakdown of the $14.5 billion, a staking position that has grown to 5.2 million ETH, and a direct comparison of BitMine’s treasury to the market’s largest bitcoin holder.

A $14.5 Billion Treasury, Line by LineThe headline number is not a single asset. It is a stack. As of November 1, BitMine reported holding 6,060,506 ETH valued at $2,261 per token per Coinbase, plus 216 bitcoin, $498 million in cash and marketable securities, a $180 million stake in Beast Industries, and an $82 million stake in Eightco Holdings (NASDAQ: ORBS).

Adding those pieces confirms the $14.5 billion total, and the arithmetic is worth walking through because BitMine did not spell it out itself. The ether position is the dominant line: 6,060,506 multiplied by $2,261 is about $13.70 billion. The 216 bitcoin add roughly $16.6 million at a bitcoin price near $76,900. The cash, Beast Industries, and Eightco stakes contribute another $760 million combined. The sum lands within rounding distance of the $14.5 billion the company cites.

The Eightco line carries a specific claim that stands out: BitMine describes the holding as “one of the only publicly listed equities in the world to provide investors indirect exposure to OpenAI.” Beast Industries is the creator-economy company backed by YouTuber MrBeast. Together these two stakes are what BitMine calls its moonshots, a category small enough relative to the ether position to read as optionality rather than core strategy.

The Weekly Buying Streak Has Not StoppedBitMine’s accumulation did not pause after it crossed 6 million ETH. “Over the past week, we acquired 8,573 ETH. Bitmine’s track record of consistent buying of crypto is unmatched by any public company in the world. Bitmine has bought ETH each week since the inception of the ETH Treasury Strategy on June 30, 2025,” Lee said in the release.

At $2,261 per token, that single week of buying represents roughly $19.4 million in new ether exposure. The 8,573 ETH also shows how close the company is to its stated ceiling: 5% of 122.2 million ETH is 6,110,000 tokens, and BitMine holds 6,060,506 — a gap of 49,494 ETH, or about 0.1% of supply. At the pace of the past week, that remaining distance could close in under six weeks, assuming the company keeps buying and does not hit a deliberate pause first.

The release frames the position as 4.9% of supply and 99% of the way to 5%. That threshold has been the organizing idea of the treasury since its 2025 launch, and the institutional roster that has funded it — ARK Invest’s Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, and Galaxy Digital — reflects how closely the strategy is watched. BitMine was added to the Russell 1000 large-cap index on June 26, 2026, and its Series A preferred stock trades on the NYSE under the symbol BMNP.

Staking 5.2 Million ETH Through MAVANMore than four-fifths of BitMine’s ether is now working. As of November 1 the company reported 5,227,037 ETH staked — worth $11.8 billion at the $2,261 reference price, or about 86% of its total ether position. That is the highest share the company has disclosed, and it converts the treasury from a static holding into an income-producing one.

The staking runs through MAVAN, the Made in America VAlidator Network BitMine built for its own treasury and has since opened to institutional investors, custodians, and ecosystem partners. Lee put the economics this way: “Bitmine has staked more ETH than other entities in the world. At scale (when Bitmine’s ETH is fully staked by MAVAN and its staking partners), the projected ETH staking reward would be $415 million on an annualized basis (using 3.03% 7-day BMNR yield).” The release compares that to roughly $358 million in annualized staking revenue today, based on the 5.2 million ETH currently staked.

The gap between $358 million and $415 million is the point of the disclosure: BitMine is telling the market its staking revenue has room to grow by roughly 16% as the remaining 14% of its ether is deployed, without buying a single additional token.

The staking position also carries a network-level implication. Ethereum’s security is weighted by how much ether is staked, and a single entity staking 5.2 million ETH represents an unusually large share of a network whose validator economics were designed around broad distribution. BitMine has framed MAVAN as an attempt to make that concentration legible and institutionally safe rather than opaque, but the scale itself is the fact that will keep drawing scrutiny.

Second to Strategy, First in EthereumBitMine now frames its treasury directly against the largest bitcoin holder. The release states BitMine’s crypto holdings rank as the number-one Ethereum treasury and the number-two global treasury, behind “Strategy Inc., which reportedly owns 848,517 BTC valued at approximately $71 billion.” That puts the two companies on either side of the same trade: Strategy holding bitcoin, BitMine holding ether.

Both treasuries, however, have been marked down as crypto has pulled back. In late September, when ether traded near $3,000, BitMine’s position was reported above $17 billion. Today the company holds more ether — 6.06 million tokens against roughly 5.7 million then — yet the position is worth less in dollars because ether has fallen from about $3,000 to $2,261, a decline of roughly 25%. At September prices, today’s 6.06 million ETH would be worth about $18.2 billion. The $14.5 billion figure is a reminder that a treasury measured in dollars can shrink even while the token count grows.

The earlier mark-to-market pain at both Strategy and BitMine was the subject of prior BlockchainReporter coverage, and this disclosure extends the same thread: the two largest public crypto treasuries are both underwater on paper relative to their peak valuations, even as both keep accumulating.

Tom Lee’s Six Reasons the Binance Hack Reads as a Bull SignalLee used the disclosure to make a market argument as much as a treasury argument, tying BitMine’s accumulation to the resilience he sees after last week’s $6.3 billion Binance theft. “While this is a terrible development, in my view, the relatively muted crypto market reaction is very constructive, particularly compared to the market’s response to prior sizable crypto thefts,” he said.

The comparison he draws is precise: “In February 2025, ByBit was also hacked by DPRK (with a very different methodology) and $1.5 billion of customer crypto was stolen. The day the ByBit theft was announced, ETH fell 8% and was down 20% within a week. By contrast, since the Binance theft was disclosed, ETH went down 4%.” The theft was roughly four times larger, he notes, yet ether’s decline has been about half the one-day move that followed ByBit.

Lee lists six reasons for the muted response: Binance has the financial capacity to cover customer losses; there was no cascade of DeFi protocol failures as after ByBit; swift industry action cut the potential loss by half; the FBI named North Korea within two days, versus as long as 180 days in some prior cases; the exploit was a corporate infiltration rather than a blockchain-level flaw; and the limited price downside is, in his reading, a sign a bull market is underway. That last point is a forecast dressed as observation, and it is Lee’s interpretation rather than a settled fact — but it is the clearest articulation yet of why BitMine continues to accumulate ether through a drawdown.

The disclosure does not resolve what happens next. Whether BitMine keeps buying through the final 0.1% of supply to 5%, whether the staking expansion delivers the projected $415 million, and whether ether’s price recovers toward its September levels all remain open questions. What is no longer in question is the scale of the position: 6.06 million ETH, a $14.5 billion treasury, and a standing second only to Strategy.

Data: CoinGecko (live ether and bitcoin prices).

The council froze 8,426 ETH and 74.6 million ARB on Oct. 30, and a Nov. 2 walkthrough on Ethereum Magicians traces how it sent the transfers in the holder's name.

Arbitrum's Security Council moved Binance-exploit funds without the holder's key

Posted November 2, 2026 at 4:33 pm ET.

Arbitrum’s Security Council did not need the private key of the address it emptied on Oct. 30, according to a walkthrough Zealynx posted Nov. 2 on the Ethereum Magicians forum. At 8:08 a.m. Hong Kong time, the council took 74,559,805.2 ARB and about 8,426 ETH off that address, which its notice said was “identified with today’s Binance exploit.”

The council had done the same in April. Its April notice says it moved more than 30,765 ETH that the KelpDAO exploiter held on Arbitrum One, a freeze Unchained covered at the time.

Steven Goldfeder, co-founder and CEO of Offchain Labs, which develops Arbitrum, said on Unchained’s Uneasy Money in July that the council’s role in the April action was by design. The power sat with “this external entity” that is “broadly elected,” he said, and “it wasn’t like me that had the power to do that.”

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Inside the Council’s Transaction
According to Zealynx, the council’s Safe, which currently requires nine of its 12 signers, called Arbitrum’s UpgradeExecutor in a single Ethereum transaction in block 26301886. For a moment the executor ran the Inbox on override code that logs the target address, unaliased, as the message’s sender, then restored the original code once the message was in. It repeated that for each asset, ARB first and ETH second.

Unchained’s own read of Ethereum and Arbitrum One chain data matches that account. Both messages executed on Arbitrum One 9 minutes and 45 seconds after the Ethereum transaction, as type 0x65 transactions with zeroed signature fields. They used the address’s nonces 2 and 3: the first sent the ARB to a holding address ending in 0DA0, and the second sent 8,425.99768 ETH there.

Nothing in the token’s logs gives the move away, Zealynx wrote: the ARB contract and indexers see a plain transfer that the holder appears to have made. On Arbitrum One, what sets it apart is the transaction’s type, 0x65, and its blank signature.

Funds Await a DAO Vote
The council’s notice says the funds “can only be moved by an ArbitrumDAO Governance vote, which will be coordinated with relevant parties,” and that “no other user’s funds or applications were affected.” The freeze came hours after Binance’s hot wallets were drained, a loss the exchange has put at about $6.3 billion.

Zealynx wrote that it does not “see a bug in any of this.” The council “used powers the DAO gave it and published both actions within an hour and a half,” the post said. Its point is aimed at builders. When a spec promises that only a key can move a wallet, Zealynx wrote, “on these chains that holds up to whoever controls the upgrade path.” On Arbitrum One, both the council’s emergency Safe and the DAO’s timelock on Ethereum hold that path, according to the post.

Related Listen: Why Griff Green Initially Opposed the Arbitrum Freeze

AI-assisted content: This article was produced with the assistance of AI tools and was reviewed, edited, and fact-checked by a member of the Unchained editorial team before publication.

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

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Bitcoin Falls Below $77,000, Ethereum, XRP, Dogecoin Flat Ahead of Midterms

Cardano markets faced significant volatility after a sharp price decline triggered an unexpected liquidation imbalance, with bullish traders caught on the wrong side of selling pressure. Data from CoinGlass indicated that Cardano recorded $217,710 in long liquidations compared to $15,020 for short positions, resulting in an imbalance of 1,449% between the two sides.

Fallout from Binance hack shakes crypto sentimentThe broader cryptocurrency landscape has yet to recover from a downturn in sentiment following the large-scale Binance hack on October 29. The incident impacted $6.3 billion in crypto assets. Binance commenced phased withdrawals on Sunday, processing $4.65 billion in withdrawals against $1.01 billion in deposits, resulting in a net outflow of $3.64 billion according to the exchange. The company reported that 95% of stolen funds have now been covered. The FBI attributed the theft to the North Korean-affiliated TraderTraitor group.

Although the Cardano and Midnight ecosystems were spared from direct losses—the stolen assets did not include ADA or NIGHT tokens—the prevailing negative sentiment has still affected market performance. Prices for both tokens have tracked the downward trend in line with the broader market retreat.

Cardano price action and liquidationsCardano (ADA) slipped 1.29% in the last 24 hours, trading at $0.19. Over the past week, it has fallen 8%, struggling to move above $0.197 after reaching a low of $0.182 on October 30. The decline has weighed heavily on leveraged long traders, leading to the pronounced liquidation imbalance. In this scenario, the liquidation of long positions significantly outpaced shorts, resulting in forced selling that further pressured prices.

Cardano’s long liquidations totaled $217,710, dwarfing the $15,020 seen on the short side—an imbalance that reached 1,449% as bullish traders were rapidly squeezed out of their positions.

Development progress and ecosystem updatesDespite the challenging trading environment, development within the Cardano ecosystem continues. Intersect’s latest update revealed that Node 11.2 is now available as a pre-release. This update advances the Dijkstra era, bringing the hard fork feature set closer to ecosystem-wide testing and integration, with the exception of Leios. The milestone is expected to support downstream teams as they begin integrating and testing updated tools, laying groundwork for the network’s long-term roadmap.

Meanwhile, work is ongoing on the Leios-inclusive Node 11.3 prototype in the Musashi Dojo testing environment. In addition, teams are focused on refining Plutus V4 cost models, drafting scope documentation, developing constitutional amendments, and improving delivery risk management. Estimates suggest that Node 11.3 will enter pre-release in approximately 3 to 4 weeks, or 2 weeks at the earliest. SanchoNet is also anticipated to join other Cardano testnets as they transition to the Dijkstra era in parallel.

Given the heightened volatility surrounding ADA, investors aiming to track these rapid liquidation events and price swings can benefit from real-time charting and customizable portfolio options. CryptoAppsy provides Cardano holders with continuous market monitoring, instant alerts for major price moves, and up-to-date news—all in one interface—empowering users to react swiftly as trading imbalances develop.

The stablecoin issuer pulled a large chunk of tokens out of circulation, its latest in a series of big supply cuts this year

Tether Treasury has burned 2 billion USDT, according to blockchain monitor Whale Alert.

At USDT’s intended one-to-one dollar peg, that is about $2 billion in tokens permanently removed from circulation.

The burn is dated October 31, 2026. It joins a lineup of other large burns already recorded this year.

What a burn actually means
A stablecoin burn works on the same logic as a casino cashing out chips. When holders redeem USDT for fiat currency, Tether destroys the matching tokens. That keeps the number of tokens in circulation in line with the dollars backing them.

Burns typically run through Tether’s Treasury address. That is the wallet the company uses to mint new USDT and to retire tokens it takes back.

Whale Alert and other on-chain monitors flagged this transaction. They have flagged earlier large burns too, framing them as standard supply management rather than an emergency.

A busy year for the shredder
This 2 billion USDT burn is big. It is not the biggest of 2026.

On July 7, Tether burned 2.5 billion USDT. Additional burns landed on May 8 and August 21.

There may be more on the way. Also on October 31, 223 million USDT moved from Bitfinex to the Tether Treasury. Tokens heading back to the Treasury can hint at future redemptions or burns, though a transfer alone doesn’t confirm either outcome.

For context, USDT’s circulating supply sat at approximately $180 billion to $184 billion in late October 2026. Against that base, a 2 billion USDT burn trims a bit over one percent of the float.

The balance sheet behind the burn
Tether’s Q3 2026 attestation reported a quarterly profit of $1.5 billion. It also showed excess reserves nearly doubling to $7.95 billion.

The attestation listed $191.45 billion in total assets against $183.5 billion in liabilities. The gap between those two figures is the cushion, the $7.95 billion in excess reserves.

Liabilities here are essentially the USDT in circulation, since each token represents a claim on a dollar. Assets are what Tether holds to honor those claims. When the first number comfortably exceeds the second, redemptions can be paid without a scramble.

What this means for the stablecoin market
USDT is the plumbing of much of the crypto market. Traders use it to move between exchanges, park funds between positions, and settle trades.

A shrinking supply can point to lower demand for on-chain dollars. When users redeem stablecoins for fiat, that money often leaves the crypto ecosystem, at least temporarily.

With supply still in the $180 billion to $184 billion range, a 2 billion USDT burn does not reshape the landscape. The year has already seen larger burns come and go.

There are caveats worth keeping in view. Attestations are snapshots, not continuous audits. They show the balance sheet at a point in time, and the composition of reserves matters as much as the headline total.

For now, the next things to watch are straightforward. First, whether the 223 million USDT sent from Bitfinex to the Treasury ends up redeemed or burned. Second, whether circulating supply keeps hovering in its current range or starts drifting lower. Third, whether the next attestation shows the excess reserve cushion holding near $7.95 billion or continuing to grow.

Disclosure: This article was edited by Kaye Quema. For more information on how we create and review content, see our Editorial Policy.

Ethereum and Tron records confirm blacklist actions against exchange-identified wallets, while deposits and withdrawals remain suspended.

Ethereum and Tron records confirm blacklist actions against exchange-identified wallets, while deposits and withdrawals remain suspended.

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8 hours ago

According to Tether CEO Paolo Ardoino’s disclosure on X, Tether has frozen over 4.5 million USDT linked to the security incident. Brazilian cryptocurrency exchange Mercado Bitcoin issued a statement saying it has swiftly identified and contained a security incident affecting its systems.

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In brief Mercado Bitcoin suspended deposits and withdrawals on Monday after a security incident, saying customers lost nothing and no data leaked. Blockchain security firm Hypernative flagged more than $40 million in suspicious transfers across at least 10 blockchains; the exchange has not confirmed that figure. Tether CEO Paolo Ardoino said the stablecoin issuer froze more than 4.5 million USDT tied to the incident. Brazil's largest crypto exchange, Mercado Bitcoin, suspended deposits and withdrawals on Monday after identifying a security incident in one of its systems in the early hours of the morning. The exchange said no customer lost money and no data leaked.

"We identified and quickly contained a security incident in one of our systems early this morning," Mercado Bitcoin said in a Portuguese-language statement on X. "As a preventive protection measure, deposits and withdrawals are temporarily suspended."

$11.27K volume

Closes: Jan 1, 2027, 04:59 UTC

Closes: Jan 1, 2027, 04:59 UTC

Blockchain security firm Hypernative flagged more than $40 million in suspicious transfers that may be linked to the incident, according to a preliminary analysis that spans at least 10 blockchains, including Bitcoin, Ethereum, Solana, and Tron. Mercado Bitcoin has not confirmed that figure and has not disclosed how the attackers got in.

In a follow-up post, the exchange published the destination addresses it identified on five networks: EVM chains (blockchains built to run the same code as Ethereum), Bitcoin, Solana, Stellar, and Tron. It said the addresses were released only so others can identify and track the funds on-chain.

Comunicado oficial:

Identificamos e contivemos com rapidez um incidente de segurança em um de nossos sistemas nesta madrugada.

Reforçamos que:
• Não houve nenhum prejuízo aos clientes;
• Não houve vazamento de dados.

Como medida preventiva de proteção, depósitos e saques…

— Mercado Bitcoin (@MercadoBitcoin) November 2, 2026

Tether CEO Paolo Ardoino said in a post on X that the stablecoin issuer has frozen more than 4.5 million USDT connected to the incident.

USDT is a dollar-pegged stablecoin, and Tether can blacklist the addresses holding it so the tokens cannot be moved, though a freeze does not by itself return the funds to their owner.

The incident comes days after hackers drained more than $6 billion from Binance on October 29, a theft the FBI attributed to North Korea's TraderTraitor group. Binance has since reopened withdrawals and said it replenished about 95% of the affected assets. Mercado Bitcoin has not linked the two incidents and has not said who is behind its own.

Deposits and withdrawals at Mercado Bitcoin remain suspended, and the exchange has not given a date for resuming them. It said it will post regular updates on X.

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Tether Freezes Over $1.5 Billion From Binance Hack, Keeping Funds Out of North Korea’s Reach

Funds frozen within 30 minutes of the attack, which the FBI has attributed to North Korea, cutting off a key source of funding for its weapons programme 2 November 2026 – Tether, the largest company in the digital asset industry, froze more than $1.5 billion in USD₮ within 30 minutes of the 29 October Binance hack, keeping those funds out of the reach of North Korea, which the U.S. Federal Bureau of Investigation (FBI) has identified as responsible for the attack.

By moving quickly, Tether stopped the funds before they could be transferred, swapped or laundered. U.S. authorities have repeatedly warned that crypto theft is a key source of funding for North Korea’s nuclear weapons programme.

“We have always said that USD₮ is the worst possible choice for criminals, and the Binance’ hack response shows why,” said Paolo Ardoino, CEO of Tether. “Within minutes of the hack, our team had frozen more than $1.5 billion. The FBI has confirmed North Korea was behind the attack. Proactivity and speed are built into how we operate. We work hard every day to protect users and the wider digital asset ecosystem. Anyone who thinks USD₮ is a good place to hide stolen funds should think again.”

“In a crisis like this, minutes matter, and Tether responded in minutes,” said Bo Hines, CEO of Tether USA₮. “We moved immediately and stopped more than $1.5 billion from reaching the people behind this attack. That is a direct contribution to U.S. and global security. Protecting users, supporting law enforcement and keeping illicit money out of the financial system is central to how Tether operates, and it is why Tether is trusted to act when it matters most.”

Tether works closely with U.S. and international law enforcement and industry partners to track illicit funds, support efforts to bring those responsible to justice and help prevent future attacks.

A Track Record of Swift Action

The Binance response is the latest in a long line of rapid interventions by Tether. Working with law enforcement, Tether can freeze funds while they are still within reach, before they disappear.

That speed also protects users. In April 2026, when hackers linked to North Korea stole around $285 million from the Drift exchange, Tether committed $127.5 million to help affected users. Where other issuers can take days or weeks to act, Tether moves in minutes, both to stop stolen funds and to support the people affected.

In the same month, acting on information from the U.S. Treasury’s Office of Foreign Assets Control (OFAC) and U.S. law enforcement, Tether froze more than $344 million in USD₮ across two addresses. OFAC designated those addresses as Central Bank of Iran identifiers the following day. In July, Tether froze a further $130 million across four wallets as Treasury expanded its designations, bringing Tether’s Iran-linked freezes this year to nearly $550 million. Tether has also taken action against sanctioned Russian activity, freezing around $23 million linked to the Garantex exchange with the U.S. Secret Service.

Built to Support U.S. Sanctions and Law Enforcement

Tether applies a wallet-freezing policy aligned with OFAC’s Specially Designated Nationals (SDN) List. The policy is not only forward-looking, but it is an industry-setting example of our abilities and productivity. For example, during the recent misinformation campaign against Tether, related to the Blumenthal report, the Company froze 99% of the addresses on the reported list before even one of the main blockchain analytics firms, Chainalysis, tagged those as belonging to Iran..

Tether works with more than 360 law enforcement agencies across 73 countries to assist investigations into illicit activity, including terrorist financing. The FBI and the U.S. Secret Service have been onboarded to Tether’s platform, and as of 31 October 2026, Tether had helped freeze more than 3,590 wallets holding approximately 1.6 billion USD₮ for the U.S. Department of Justice, Secret Service and FBI.

In total, Tether has frozen more than 7 billion USD₮ in secondary market addresses (including the Binance freezes), most of it connected to fraud and thefts, particularly DeFi and exchange hacks. Approximately 1.2 billion USD₮ obtained through fraud and theft has been returned to its rightful owners and to law enforcement through reissuance.

Learn more about Tether’s role in U.S. and global financial markets at TetherFacts.com.

Mercado Bitcoin Halts Withdrawals After Security Incident as Hypernative Flags $40M Outflows

Tether has frozen over $4.5 million in USDT following a security breach targeting Mercado Bitcoin, Brazil’s largest cryptocurrency exchange. The freeze came after reports surfaced of more than $40 million in suspicious token transfers on the platform. In response to the incident, Mercado Bitcoin paused all deposits and withdrawals as it launched an investigation.

Details of the Security BreachMercado Bitcoin reported that it detected the compromise of one of its systems during the early hours of November 2. The company stated it acted swiftly to contain the incident and emphasized that no customer funds had been lost and no user data was leaked. The exchange assured clients that their assets remained secure, though as a precaution, trading operations were temporarily suspended.

Tether Chief Executive Paolo Ardoino acknowledged the freeze in a post on X, but did not disclose wallet addresses involved nor indicate whether the frozen USDT had been recovered by the exchange. No evidence was presented showing that blocked tokens were returned to Mercado Bitcoin.

Mercado Bitcoin indicated that it contained the security incident quickly, with no damage to clients and no leak of user data. The company paused deposits and withdrawals as a protective measure, aiming to safeguard customer funds and maintain operational integrity.

Blockchain security firm Hypernative flagged irregular token movements across multiple networks during the breach, according to Brazilian publication BitNotícias. Although Hypernative estimated a total of $40 million in suspicious transfers, the actual amount affected remains unverified.

Suspicious transactions were identified on at least 10 blockchains, including Bitcoin, Ethereum, Solana, Tron, Polygon, and Avalanche. Initial abnormalities were detected at approximately 02:15 UTC, followed by several large transactions between 06:19 and 06:53 UTC. Hypernative traced roughly 2,852 ETH, 106 BTC, and 10,700 SOL among the assets moved, but expressed uncertainty about the exact ownership of the wallets involved.

Address Disclosure and Ongoing EffortsMercado Bitcoin published a list of blockchain addresses linked to the incident, spanning EVM-compatible networks, Bitcoin, Solana, Stellar, and Tron. This step aimed to assist investigators and third parties in tracking the movement of compromised assets. The company did not provide specific loss figures for each address and noted that some details, including the relationship of specific USDT holdings to the freeze, were unavailable.

While Tether is able to freeze USDT associated with suspicious activities, the company cannot return blocked tokens directly to victims. Earlier this year, Tether reported collaborating with authorities on similar actions, including the freezing of $344 million USDT tied to illicit activities on two addresses.

Tether stated that it has worked with more than 340 law enforcement agencies across 65 countries, supporting over 1,200 investigations involving suspicious transactions. These collaborations highlight the increasing role of stablecoin issuers in responding to security incidents in the crypto sector.

Tether has demonstrated the ability to freeze tokens linked to compromised wallets, but clarified that the authority to move or return these tokens rests outside its purview and is typically managed by law enforcement agencies or the courts.

Market participants seeking to monitor critical movements of USDT following hacks on exchanges such as Mercado Bitcoin can benefit from real-time alerts and transaction tracking. CryptoAppsy provides timely notifications tailored to specific tokens like USDT, enabling users to react swiftly by following live data as new developments unfold in response to security incidents.

Mercado Bitcoin confirmed its team is working closely with Brazilian authorities while monitoring the affected tokens. So far, no information has emerged regarding any recovery or return of the frozen USDT. The total scope of assets involved in the security breach remains under review.

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

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AUSTIN, Texas--(BUSINESS WIRE)--Atlas Energy Solutions Inc. (NYSE: AESI) (“Atlas” or the “Company”) today reported financial and operating results for the third quarter ended September 30, 2026. Third Quarter 2026 Highlights Total revenue of $267.8 million, net loss of $45.1 million and Adjusted EBITDA of $30.3 million Net cash generated from operating activities of $23.4 million and Adjusted Free Cash Flow of $25.3 million Announced two Cost Reimbursement Agreements ("CRA") with a leading fron.

XRP has attracted buyers at $1.24 three times in just two days, and this makes the price level an important part of its current market structure. 

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On each occasion, buyers stepped in as XRP approached the level, absorbed the selling pressure, and pushed the price back up. These repeated reactions suggest that demand is strong around $1.24, as XRP faces pressure from the wider crypto market.

Well-known crypto analyst Marzell had identified $1.24 as a key support level before these recent tests. So far, the price action has supported this suggestion, as buyers continue to defend the zone each time XRP returns to it. 

XRP Buyers Defend $1.24 After Major Market Sell-Off
The repeated buying around $1.24 is particularly noteworthy given the events behind XRP’s recent decline. The token dropped 4.2% in 24 hours after hackers drained $6.3 billion worth of multiple assets from Binance on Oct. 29. 

The breach triggered widespread selling across the entire crypto market and led to fresh concerns about exchange security.

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The sell-off affected several major cryptocurrencies. Bitcoin fell to a six-week low of $76,368, while Ethereum dropped more than 3% to a two-month low near $2,178. 

Both assets eventually found some support as the market began to stabilize. Meanwhile, XRP also came under heavy pressure and briefly slipped below $1.24 during the sharp decline.

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The market downturn also forced leveraged traders out of their positions. Long-position liquidations reached $16 million on Friday as falling prices caught traders on the wrong side of the market. However, buyers continued to return whenever XRP approached $1.24.

XRP Struggles to Break Above $1.27
While buyers have managed to defend $1.24, XRP has struggled to move above $1.27. Every recovery from support has faced selling pressure around this level, preventing the asset from making a stronger move higher. 

XRP buyers repeatedly step in at the $1.24 support
This has left XRP trading between a price floor that buyers continue to defend and a ceiling that sellers have so far protected. The repeated movement between $1.24 and $1.27 has created a narrow trading range. 

Traders often refer to this type of price action as a coil because the market continues to move within a tightening range before making a move in either direction. However, there is no clear indication yet whether the eventual breakout will favor buyers or sellers.

XRP also faces resistance from three major exponential moving averages (EMAs). The price currently trades below the 20-day ($1.32), 50-day ($1.35), and 100-day ($1.32) EMAs. This adds to the selling pressure that buyers must overcome before XRP can establish a sustained recovery.

For this reason, breaking above $1.27 would be an important step toward improving the short-term outlook. However, a brief move above the level would not be enough to confirm a breakout. Buyers would need to push XRP above $1.27, secure a close beyond it, and keep the price above that level.

XRP Could Target $1.30 or Drop Toward $1.18
According to Marzell, a confirmed break above $1.27 could send XRP toward $1.30. The analyst said $1.30 is an important expansion area, suggesting that a sustained move above the current resistance could give XRP room to advance further.

Developments surrounding the Binance breach could also help improve market sentiment. Binance pledged to cover all losses resulting from the incident and temporarily suspended deposits and withdrawals while carrying out security checks. The exchange has also frozen approximately $3 billion in stolen assets. 

However, XRP could face another decline if buyers fail to defend $1.24. A breakdown below this support would put $1.20 in focus. This level represents the next liquidity pool, where buy orders are likely concentrated. If XRP also loses $1.20, the decline could extend toward $1.18, which marks the potential flush target.

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DENVER--(BUSINESS WIRE)--UDR, Inc. (the “Company”) (NYSE: UDR), announced today its full third quarter 2026 results, which follows its release of preliminary third quarter 2026 results on October 21, 2026. Net Income, Funds from Operations (“FFO”), and FFO as Adjusted (“FFOA”) per diluted share for the quarter and year-to-date periods ended September 30, 2026, are detailed below. Metric Quarter Ended September 30 Year-to-Date Ended September 30 2026 2025 2026 2025 Net Income per diluted share $.

NEW YORK, Nov. 02, 2026 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Build-A-Bear Workshop, Inc. (NYSE: BBW) resulting from allegations that Build-A-Bear may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased Build-A-Bear securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/cases/buildabear-workshop-inc-bbw/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

WHAT IS THIS ABOUT: Rosen Law Firm is investigating potential civil securities claims.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered billions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

Contact Information:

 Laurence Rosen, Esq.
 Phillip Kim, Esq.
 The Rosen Law Firm, P.A.
 275 Madison Avenue, 40th Floor
 New York, NY 10016
 Tel: (212) 686-1060
 Toll Free: (866) 767-3653
 Fax: (212) 202-3827
 [email protected]
 www.rosenlegal.com

TORONTO, Nov. 02, 2026 (GLOBE NEWSWIRE) -- Osisko Gold Group Inc. (NYSE: OGG, TSXV: OGG) ("Osisko Gold" or the "Company") is pleased to announce the appointment of Mr. Cameron Carter as Vice President, Construction Operations of Barkerville Gold Mines Ltd., the Company's wholly-owned subsidiary, effective immediately. Mr. Carter will oversee construction execution currently underway at the Cariboo Gold Project (the "Project"), located in central British Columbia. Reporting directly to Sean Roosen, Chairman and CEO, he will work alongside JDS Energy & Mining Inc., the Project's principal construction management contractor.

Sean Roosen, Chairman and CEO, commented: "We are excited to welcome Cameron to the Osisko Gold team. He brings a strong technical background and extensive expertise in building large-scale underground mines globally. His commitment to safety, building high-performing teams, and operational excellence, together with his disciplined approach to project delivery will be invaluable as we advance the Cariboo Gold Project through construction and commissioning and into production."

Mr. Carter brings more than 18 years of experience in underground mine development, construction, operations, and executive leadership. Throughout his career, he has held progressively senior roles in mine engineering, operations management, project delivery, and commercial and business development. Mr. Carter joins from Dumas Mining, where he spent more than 15 years, most recently serving as Senior Vice President, providing executive leadership across the technical and commercial functions of its international underground mining business. During his tenure, he supported the successful execution of complex underground mining projects, including El Limon and Media Luna (Torex Gold Resources Inc.), La Colorada and Bell Creek (Pan American Silver Corp.), and Lalor (Hudbay Minerals Inc.), among others, while helping strengthen the organization's technical capabilities, operational systems, and project delivery practices. Earlier in his career, Mr. Carter contributed to the development and construction of Glencore's Mine D project at Kidd Operations in Northern Ontario, one of the world's deepest base metal mining operations. Mr. Carter holds a Bachelor of Applied Science (B.A.Sc.) from Acadia University and a Bachelor of Mineral Resource Engineering (B.Eng.) from Dalhousie University. He is a licensed Professional Engineer in the Province of Ontario.

The Company also announces that Sarah Harrison, Vice President, Permitting and Compliance, is leaving the Company, effective immediately, to pursue other opportunities. Greenwood Environmental Inc. ("Greenwood") has assumed responsibility for permitting and compliance matters, and Ms. Harrison will remain available in an advisory capacity. "We thank Sarah for her efforts and contributions to Osisko Gold and wish her continued success in her future endeavours," noted Sean Roosen. Greenwood has led or supported permitting and environmental assessment processes for several major projects in British Columbia, including Mt. Milligan and Red Chris.

ABOUT OSISKO GOLD GROUP INC.Osisko Gold Group Inc. is a continental North American gold development company focused on past producing mining camps with district-scale potential. The Company's objective is to become an intermediate gold producer through the development of its flagship, fully permitted, 100%-owned Cariboo Gold Project, located within the Company's broader Cariboo regional land package in central British Columbia, Canada, which hosts numerous prospective exploration targets and provides opportunities for future discoveries. Its Cariboo project pipeline is complemented by the Tintic Project, located in the historic East Tintic mining district in Utah, U.S.A., a brownfield property with significant exploration potential, extensive historical mining data, and access to established infrastructure. Osisko Gold is focused on developing long-life mining assets in mining-friendly jurisdictions while maintaining a disciplined approach to capital allocation, development risk management, and mineral inventory growth.

For further information, visit our website at www.osiskogold.ca or contact:

Sean Roosen                                              Philip Rabenok
Chairman and CEO                                     Vice President, Investor Relations
Email: [email protected]                Email: [email protected]
Tel: +1 (514) 940-0685                                Tel: +1 (437) 423-3644

  CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward-looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, as amended) (collectively, "forward-looking statements"). Such forward-looking statements, by their nature, require Osisko Gold to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Such forward-looking statements are not guarantees of performance and are identified with words such as "may", "will", "would", "could", "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee", "objective", "strategy", variants of these words or the negative or comparable terminology, as well as terms usually used in the future and the conditional. Forward-looking statements in this news release include, but are not limited to, statements pertaining to: the expected role and contribution of Mr. Carter as Vice President, Construction Operations, including his oversight of construction execution at the Cariboo Gold Project; the advancement of the Cariboo Gold Project through construction and commissioning and into production; the expected performance of JDS Energy & Mining Inc. as the Project's principal construction management contractor; the transition of permitting and compliance responsibilities following Ms. Harrison's departure, including her availability in an advisory capacity; the expected performance of Greenwood in respect of permitting and compliance matters for the Project; the Cariboo Gold Project's permitting status and the expected timing of receipt of remaining authorizations, permit amendments and construction permits; the Company's objective of becoming an intermediate gold producer; and the exploration potential and potential for future discoveries (if any) of its properties. Information contained in forward-looking statements is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including: Mr. Carter's integration into the Project's leadership team proceeding as anticipated; the Company's ability to retain Mr. Carter and other key personnel; the orderly transition of permitting and compliance responsibilities to Greenwood, including Ms. Harrison's continued availability in an advisory capacity; construction proceeding on the anticipated schedule and within the estimated budget; the availability of personnel, contractors, equipment, supplies and infrastructure; JDS Energy & Mining Inc., Greenwood and other contractors and consultants performing as expected; the absence of any work stoppages or suspensions at the Company's projects; the absence of unforeseen ground conditions or other geological challenges; required permits, authorizations and amendments being obtained and maintained in a timely manner; the Company's continued access to capital on acceptable terms; and the absence of material adverse changes in gold prices, foreign exchange rates and general economic and market conditions. Osisko Gold considers its assumptions to be reasonable based on information currently available but cautions the reader that its assumptions regarding future events, many of which are beyond the control of Osisko Gold, may ultimately prove to be incorrect since they are subject to risks and uncertainties that affect Osisko Gold and its business.

Such risks and uncertainties include, but are not limited to: the inability to retain Mr. Carter or other key personnel and disruption associated with leadership changes, including the transition of permitting and compliance responsibilities; risks associated with the development and construction of the Cariboo Gold Project, including construction delays, cost overruns, inflation and supply chain disruptions; delays in commissioning or in the transition to production; contractor and consultant performance, including that of JDS Energy & Mining Inc., and Greenwood; work stoppages or suspensions at the Cariboo Gold Project; unforeseen ground, geotechnical or water management conditions; delays or shortages in necessary equipment, supplies and infrastructure, including long-lead items; labour shortages or disputes and health, safety and security incidents; adverse changes in the Company's business, financial position, operating environment or access to capital; regulatory delays or changes in regulatory framework and applicable laws; the timing and ability of the Company to obtain and maintain required approvals and permits; the results of exploration activities and errors in management's geological modelling; risks relating to exploration, development and mining activities; general economic and market conditions and business conditions in the mining industry; fluctuations in commodity and currency exchange rates; environmental risks; and community, non-governmental and governmental actions, including relationships with First Nations, and the impact of stakeholder actions. Readers are urged to consult the disclosure provided under the heading "Risk Factors" in the Company's annual information form for the year ended December 31, 2025 as well as those risks and factors disclosed in the Company's most recent financial statements and management's discussion and analysis and other public filings filed under Osisko Gold's issuer profile on SEDAR+ (www.sedarplus.ca) and on the SEC's EDGAR website (www.sec.gov), for further information regarding the risks and other factors facing the Company, its business and operations.

Although the Company believes the expectations conveyed by the forward-looking statements are reasonable based on information available as of the date hereof, no assurances can be given as to future results, levels of activity and achievements. Forward-looking statements are not guarantees of performance and there can be no assurance that these forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Readers are cautioned that the foregoing lists of assumptions, risks and uncertainties are not exhaustive. The forward-looking statements contained herein are made as of the date of this news release and, except as required by applicable law, the Company undertakes no obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.