☕️ CZ and Elon Musk Clash Amid Binance Hack Fallout Binance's historic security breach dominates the industry agenda, sparking political blowback, technical scrutiny, and public disputes among tech executives.
1. CZ and Elon Musk Clash Over SpaceX Equity Following $6.4B Binance Breach — Changpeng Zhao told Elon Musk to stop mocking Binance, noting the exchange holds a $1 billion-plus stake in SpaceX [4]. Co-CEO Yi He stated corporate revenue can cover the $6.4 billion hack without selling equity [4]. 2. EIP-7702 Under Scrutiny After North Korean Exploiters Drain Binance Wallet — North Korean hackers leveraged an EIP-7702 delegation to execute the $6.4 billion Binance heist [5]. TRM Labs found an attacker wallet used 50 signed authorizations to convert a hot wallet into an automated sweeper [5]. 3. Rep. Maxine Waters Demands Crypto Accountability After Binance Breach — The top House Financial Services Committee Democrat criticized deregulatory efforts after Binance lost an estimated $6.3 billion [7]. Waters highlighted that millions of depositors cannot currently withdraw funds [7]. 4. Tether Posts $1.5 Billion Q3 Profit as Excess Reserves Hit $7.95 Billion — Tether generated $1.5 billion in third-quarter operating profit, expanding its surplus reserves to $7.95 billion [3]. The stablecoin issuer holds $132.4 billion in U.S. Treasury bills and $8.37 billion in $BTC [3]. 5. India's ED Raids Mudrex and Instadapp Over Alleged $600M Forex Violations — The Enforcement Directorate raided premises tied to Mudrex and Instadapp over alleged Rs 5,000 crore in cross-border violations [1]. Mudrex allegedly moved Rs 4,600 crore using $USDT without regulatory authorization [1]. 6. SEC Sues BG Wealth and DSJ Exchange Over $130 Million Crypto Scheme — The SEC charged two entities for an alleged $130 million fraud scheme targeting retail investors [8]. Regulators claim the defendants fabricated SEC registration filings to market automated trading signals [8].
📊 Bitcoin is trading at $77,268, Ethereum holds at $2,242, and total market capitalization stands at $2.61 trillion amid a Fear & Greed Index reading of 30.
