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Door Remote - 30 Oct 2026
Today in crypto, Binance said it held $5 billion in matching tokens to cover losses from crypto’s record-breaking $6.3 billion hack. Prediction market platform Kalshi raised $1 billion at a $40 billion valuation despite growing legal scrutiny of its sports contracts.
Binance says it holds $5B in matching tokens to cover hack lossesBinance said Friday that it had set aside more than $6.34 billion in company funds to cover losses from its hack, with $5 billion already in held in the same tokens stolen.
“The $5 billion is held in the exact token assets that are required. These assets are in Binance custody,” a Binance spokesperson told Cointelegraph.
Binance did not disclose when it acquired the assets.
The spokesperson declined to disclose the wallet addresses, citing security reasons, but said that the holdings would appear in the exchange’s next proof-of-reserves report, which shows the assets it holds to back customer balances.
Binance said it provides weekly reports on its company funds to the Financial Services Regulatory Authority (FSRA), the financial regulator of Abu Dhabi Global Market in the United Arab Emirates. The exchange said the requirement predated the hack.
Binance hit by $6.3 billion hack, analysts suspect North Korean groupCrypto exchange Binance said it has been hit with a security breach with an estimated $6.3 billion impact, with its initial investigation pointing to a compromised DevOps engineer’s laptop that may have allowed attackers to submit unauthorized withdrawals.
The exchange said it had found no evidence of a wallet private-key leak.
Industry partners helped freeze approximately $3 billion in affected assets. Binance pledged to cover all losses using its Secure Asset Fund for Users and company funds, saying user funds were safe.
Cybersecurity analysts have pointed to North Korean group TraderTraitor as likely having carried out the attack, citing links to a previous hack.
Withdrawals remain paused during a security revamp, with Binance expecting to resume within 48 hours.
Kalshi hits $40 billion valuation after $1 billion funding roundPrediction market platform Kalshi has raised $1 billion at a $40 billion valuation, nearly doubling since May as it expands beyond sports contracts.
Wellington Management and Sequoia Capital co-led the Series G round, Reuters reported Thursday. Kalshi also disclosed that its non-sports markets have surpassed $1 billion in annualized revenue, according to The Wall Street Journal.
The latest financing follows a $1 billion raise in May that valued Kalshi at $22 billion. The platform has since recorded approximately $15.8 billion in trading volume over the past 30 days, according to DefiLlama.
Kalshi is also expanding its commercial partnerships. Earlier this week, the NBA named Kalshi and rival Polymarket as preferred prediction market exchanges, while S&P Dow Jones Indices partnered with Kalshi to introduce financial benchmarks to event contracts.
The expansion comes amid mounting legal scrutiny of Kalshi’s sports contracts. Utah filed criminal charges against the company and its co-founders Wednesday over alleged illegal gambling activities, escalating a dispute over whether prediction markets fall under federal derivatives oversight or state gambling laws. The Commodity Futures Trading Commission has separately moved to block Utah’s enforcement efforts.
Binance says it holds $5B in matching tokens to cover hack lossesBinance said Friday that it had set aside more than $6.34 billion in company funds to cover losses from its hack, with $5 billion already in held in the same tokens stolen.
“The $5 billion is held in the exact token assets that are required. These assets are in Binance custody,” a Binance spokesperson told Cointelegraph.
Binance did not disclose when it acquired the assets.
The spokesperson declined to disclose the wallet addresses, citing security reasons, but said that the holdings would appear in the exchange’s next proof-of-reserves report, which shows the assets it holds to back customer balances.
Binance said it provides weekly reports on its company funds to the Financial Services Regulatory Authority (FSRA), the financial regulator of Abu Dhabi Global Market in the United Arab Emirates. The exchange said the requirement predated the hack.
Binance hit by $6.3 billion hack, analysts suspect North Korean groupCrypto exchange Binance said it has been hit with a security breach with an estimated $6.3 billion impact, with its initial investigation pointing to a compromised DevOps engineer’s laptop that may have allowed attackers to submit unauthorized withdrawals.
The exchange said it had found no evidence of a wallet private-key leak.
Industry partners helped freeze approximately $3 billion in affected assets. Binance pledged to cover all losses using its Secure Asset Fund for Users and company funds, saying user funds were safe.
Cybersecurity analysts have pointed to North Korean group TraderTraitor as likely having carried out the attack, citing links to a previous hack.
Withdrawals remain paused during a security revamp, with Binance expecting to resume within 48 hours.
Kalshi hits $40 billion valuation after $1 billion funding roundPrediction market platform Kalshi has raised $1 billion at a $40 billion valuation, nearly doubling since May as it expands beyond sports contracts.
Wellington Management and Sequoia Capital co-led the Series G round, Reuters reported Thursday. Kalshi also disclosed that its non-sports markets have surpassed $1 billion in annualized revenue, according to The Wall Street Journal.
The latest financing follows a $1 billion raise in May that valued Kalshi at $22 billion. The platform has since recorded approximately $15.8 billion in trading volume over the past 30 days, according to DefiLlama.
Kalshi is also expanding its commercial partnerships. Earlier this week, the NBA named Kalshi and rival Polymarket as preferred prediction market exchanges, while S&P Dow Jones Indices partnered with Kalshi to introduce financial benchmarks to event contracts.
The expansion comes amid mounting legal scrutiny of Kalshi’s sports contracts. Utah filed criminal charges against the company and its co-founders Wednesday over alleged illegal gambling activities, escalating a dispute over whether prediction markets fall under federal derivatives oversight or state gambling laws. The Commodity Futures Trading Commission has separately moved to block Utah’s enforcement efforts.