24H Trending Coins & News | Democrats Secure 51 Senate Seats, Midterm Elections Settled; BTC Briefly Breaks $81,000 (November 5)
- Key Takeaways: Broad market rally, with ETH, UNI, and ZEC leading major coins; Binance has replenished approximately 98% of stolen assets and expanded its proof of reserves, but the incident exposed operational discipline and security vulnerabilities; Democrats won Senate majority in the US midterm elections, which may lead to stricter crypto regulation and put the CLARITY Act at risk of becoming void.
- Key Elements:
- Among the top 10 CEXs by trading volume, nine rose and one fell: ETH +6.98%, ZEC +7.21%, UNI +7.08%, with only HYPE down slightly by 0.47%; on OKX's gainers list, STX led with +11.16%.
- Binance has used its own funds to replenish approximately 98% of stolen assets (approximately $6.34 billion affected in hot wallets as of October 29), and its proof of reserves now covers 44 tokens, up from 10; the FBI attributed the attack to North Korea's TraderTraitor group.
- The founder of CoinEx pointed out that the breach stemmed from three operational discipline failures: devices not being isolated, a single credential being able to operate production services, and multisig parties not independently verifying transactions.
- Democrats secured 51 Senate seats, reaching the majority threshold; industry observers expect the House Financial Services Committee to prioritize stablecoin reserves, disclosure requirements, and AML controls.
- Without bipartisan support of 60 votes, the current version of the CLARITY Act may expire on January 3, 2027, when the 119th Congress ends.
- Circle's Q3 revenue and reserve income reached $865 million, up 17% year-over-year; USDC on-chain transaction volume hit $13.9 trillion, up 49% year-over-year, with a 27% market share.
- NEAR governance proposal passed with 99.96% support; the annual issuance cap will be reduced from 2.5% to 1.6% within two years, with daily issuance expected to drop from approximately 89,500 to 57,300 tokens.
Trending Coins on CEXs
Top 10 by CEX trading volume and 24-hour price change:
- BTC: +4.48%
- ETH: +6.98%
- SOL: +3.72%
- ZEC: +7.21%
- XRP: +2.82%
- NEAR: +4.50%
- BNB: +3.63%
- PEPE: +2.91%
- UNI: +7.08%
- HYPE: -0.47%
Top 24-hour gainers (data source: OKX):
- STX: +11.16%
- PONS: +10.72%
- UNI: +7.48%
- ZEC: +7.45%
- ETH: +7.16%
- ONDO: +6.15%
- ENA: +6.13%
- SUI: +5.36%
- AAVE: +5.02%
- LINK: +4.96%
Top 24-hour gainers among tokenized stocks (data source: msx.com):
- APP: +36.45%
- SNDQ: +19.97%
- EBON: +19.33%
- DFDV: +19.02%
- LITZ: +18.81%
- MDLN: +18.28%
- BEZ: +17.47%
- EOSE: +16.32%
- AXTQ: +14.93%
- SKDD: +14.92%
Headlines
Democrats Win 51 Senate Seats, Reaching Majority Threshold
According to the latest data from Decision Desk HQ, in the 2026 U.S. midterm Senate elections, Democrats have secured 51 seats while Republicans have won 40. Democrats have reached the Senate majority threshold of 51 seats. In the House, Democrats currently hold 211 seats and Republicans 119, leaving Democrats 7 seats short of the 218-seat majority threshold.
Binance issued its 7th announcement on the security incident recovery progress, stating that it has reserved more than 100% of the funds needed to compensate for the stolen assets from its own capital, and has completed replenishment of approximately 98% of affected assets, with the remaining 2% to continue being purchased through public markets and OTC channels. Due to the low liquidity of the relevant tokens, the replenishment progress is expected to be relatively slow. In addition, Binance completed a new Proof of Reserves (PoR) snapshot at 00:00 (UTC) on November 4, expanding the number of covered tokens from 10 to 44. The full zero-knowledge proof is expected to take 50 to 60 hours to generate, after which users can independently verify whether the relevant assets are backed by reserves of at least 1:1. Binance stated that it will continue to replenish the remaining assets, restore withdrawals in phases, and strengthen platform security measures.
Industry News
CoinEx founder Haipo Yang said the Binance hack exposed at least three avoidable security flaws, arguing the problem lies in operational discipline rather than a lack of advanced technology. The flaws include failure to isolate work and personal devices, a single credential being able to operate production services, and multi-party computation signers failing to independently verify transactions. Binance said the incident affected approximately $6.34 billion in hot wallet assets on October 29; as of October 31, 98% of that had been replenished using company funds. The FBI attributed the attack to the North Korean Tradertraitor group. Binance has rebuilt the affected wallet system, replaced devices, revoked credentials, and strengthened risk controls for wallet services. CoinEx will also open withdrawals by December 22, 2026; Haipo Yang previously said that the security and compliance risks of operating an exchange have become harder to control. (Bitcoin.com News)
Number of Issuers Opposing Tokenization Rises to 59 as Apple, The Home Depot, and GE Vernova Object
A Fox Business crypto reporter posted on X that Apple, The Home Depot, and GE Vernova have also objected to having their shares tokenized through OKX/ICE Markets, bringing the total number of issuers raising objections to 59. Six of the Magnificent Seven have now objected; Meta was not on the original list.
Judge Valerie Caproni of the U.S. District Court for the Southern District of New York denied a temporary restraining order request filed by industry group Capital Markets Alliance (CMA). The court found that the plaintiff failed to demonstrate that its members would suffer imminent irreparable harm; at the same time, the court held that CMA's claim that the U.S. Commodity Futures Trading Commission (CFTC) overstepped its authority is likely to succeed, noting that the relevant contracts appear not to meet the definition of "security futures" and are closer to swaps regulated by the U.S. Securities and Exchange Commission (SEC).
Circle released its Q3 2026 financial results, with total revenue and reserve income of $865 million, up 17% year-over-year; net income from continuing operations of $226 million, up 5% year-over-year, and adjusted EBITDA of $317 million, up 85% year-over-year. Reserve income was $658 million, down 8% year-over-year; other income was $207 million, up 627% year-over-year, of which $182 million came from the ARC token pre-sale. In Q3, USDC average circulation was $73.3 billion, up 8% year-over-year; on-chain transaction volume was $13.9 trillion, up 49% year-over-year. USDC market share at period end was 27%, and the number of wallets holding more than $10 in USDC was 7.3 million, up 16% year-over-year. Circle's payment network annualized payment volume reached $41.3 billion; Circle has signed a definitive agreement to acquire Singapore-based cross-border payment platform Tazapay, with the transaction expected to close in 2027. Circle cut about 5% of its workforce in Q3 and maintained its full-year 2026 financial guidance unchanged.
American Bitcoin Reports Q3 Net Income of $126 Million
American Bitcoin released its Q3 2026 financial results, with net income of $126 million, swinging to a profit from a net loss of $57.2 million in Q2; the profit was mainly driven by approximately $197 million in digital asset gains. The company's Q3 revenue was $63.4 million, down from $67 million in Q2. As of September 30, American Bitcoin held approximately 8,427 BTC, an increase of about 425 from the end of June, of which about 3,090 were pledged to Bitmain; it mined approximately 891 BTC in Q3, with the per-coin mining cost rising to about $42,100. American Bitcoin's stock closed down 5.60% on Wednesday at $6.24.
Project News
Mercado Bitcoin: Platform to Restore in Phases on November 9, Compensation to Be Paid from Own Funds
Mercado Bitcoin stated that the platform will restore in phases starting November 9, with the first phase opening website access so users can view balances, statements, assets, and investments; transfer, withdrawal, and trading functions will reopen gradually after each module passes final security verification. The exchange reiterated that customer assets will not suffer losses and that it will compensate the assets involved in the incident from its own funds; through collaboration with Tether, Circle, Paxos, BRL1, Chainalysis, and crypto community experts, more than $15 million in related assets have now been frozen, up from the $12.9 million the exchange previously said had been frozen.
Bidding Farewell to Independent L1: Gnosis Chain to Transition to Ethereum L2 in Spring 2027
Gnosis announced that Gnosis Chain will stop operating as an independent L1 via a hard fork in spring 2027, transitioning into an Ethereum Economic Zone (EEZ) region settling to Ethereum and becoming the first general-purpose zone. At that time, contracts, balances, addresses, chain ID, and the gas token xDAI will all remain unchanged, and developers will not need to redeploy; however, the validator set of approximately 200,000 independent validators will not be retained. Based on current DeFi TVL, Gnosis Chain will rank among the top ten Ethereum L2s after the transition and become the first L2 that can be composable in sync with mainnet. Gnosis said that operating as an independent L1 costs Gnosis DAO approximately $7 million to $10 million per year.
NEAR Protocol Governance Body Passes Proposal; Annual Token Issuance Cap to Be Cut by 36%
NEAR Protocol's governance body House of Stake passed proposal HSP-029 on November 2 with approximately 99.96% support, with 3.29 million veNEAR in voting power. The proposal aims to gradually reduce the annual token issuance cap from 2.5% to 1.6% over 24 months, an average reduction of 0.0375 percentage points per month. The proposal was initiated by Sal Ternullo, CEO of Nasdaq-listed company SVRN, and adjusts only one protocol parameter, with existing allocation ratios unchanged: 90% of newly issued tokens go to staking participants and 10% to the treasury. The proposal still requires approval from the House of Stake security committee and will be implemented after a preparation period of approximately 90 days and validators completing the protocol upgrade. Model estimates suggest that, based on the original issuance cap, approximately 11.8 million fewer NEAR would be issued in the first two years after implementation, and approximately 66.1 million fewer over six years. After full implementation, daily issuance is expected to drop from about 89,500 to 57,300; under the assumption of similar staking participation rates, gross staking yield is expected to fall from 5.268% to 3.372%, and validator commission income is expected to decrease by 36%. (Bitcoin.com News)
Polygon Proposal Seeks Hard Fork to Zero Out and Redirect Approximately 70.49 Million Stolen POL
According to monitoring of a Polygon community proposal, members have proposed a Polygon PoS mainnet hard fork to zero out approximately 70.49 million native POL in attack addresses on the blocklist and redirect them to a designated recovery address. At October 29 prices, these POL were worth approximately $6.5 million. Of these, Polymarket-related addresses account for approximately 23.86 million and Binance-related addresses approximately 46.63 million; the proposal states that total supply remains unchanged. The proposal is scheduled to be presented at the protocol governance meeting at 22:30 Beijing time on November 5, with the activation block and client version to be determined.
Solana posted on X that Schroders, one of the world's largest asset managers, will partner with Centrifuge to bring an emerging market debt fund to Solana. This is Schroders' first fund on Solana; Schroders manages $1.1 trillion in assets.
Funding & Investment
RWAI Announces Completion of $8 Million Funding Round; Community Airdrop in Preparation
AI-driven custom manufacturing and real-world asset (RWA) project RWAI announced the completion of an $8 million funding round, with investors including Amber, UOB Venture, Arkstream Capital, Web3Lab, Waterdrip, Moonhill, Basics Capital, Anti Capital, Everwood Capital, and Solarium Investment. RWAI is a custom manufacturing platform that turns product ideas into physical goods, integrating AI-assisted product planning and design, manufacturer matching, production, quality control, and delivery into a single end-to-end process.
Regulatory Developments
If the CLARITY Act fails to gain bipartisan support to reach the 60-vote Senate threshold, the current version may expire on January 3, 2027, when the 119th Congress ends. If the new Congress wants to advance the bill, it must reintroduce it and negotiate a new agreement. The Digital Chamber expects that under Democratic control, the House Financial Services Committee will prioritize stablecoin reserve requirements, expanded consumer disclosure, and strengthened anti-money laundering controls. The new Congress is also expected to strengthen protections for AI data privacy and national security risks, and to promote formal risk management frameworks and transparency requirements for high-risk AI applications. (Bitcoin.com News)
France's National Assembly passed an amendment to the 2027 finance bill on November 3 that would require declaration of wallets held directly and not custodied by a crypto asset service provider. Crypto assets in such wallets must be declared if their value reaches or exceeds €100,000 as of December 31 of the declaration year, with a maximum fine of €10,000 for non-declaration. The bill is currently still at the first-reading stage in the National Assembly.
GENIUS Act Does Not Exempt Stablecoin-Related Businesses from State Licensing Requirements
The GENIUS Act establishes a federal framework for payment stablecoin issuance but does not exempt all businesses handling stablecoins from money transmission regulation. Exchanges, wallets, payment processors, and remittance companies may still need to register as money services businesses with the Financial Crimes Enforcement Network (FinCEN) and obtain state money transmission or virtual currency licenses. Whether a business needs a license depends on whether it receives, controls, exchanges, or transmits value for customers, and which entity performs each step. Issuer approval or federal FinCEN registration does not automatically satisfy other federal requirements or state licensing requirements. The GENIUS Act provides for state law preemption arrangements for certain approved issuers, but does not generally exempt third parties such as exchanges, distributors, wallets, and payment companies. States also differ in their definitions, exemptions, and licensing regimes for virtual currency and money transmission, and businesses need to assess each based on their business activities and operating regions. (Bitcoin.com News)
