Bitget Daily Briefing｜Get Liquidated in the crypto market exceeds $1.2 billion; EU plans to unify encryption regulation; Balancer suffers $120 million loss from a Hacker attack.

Author: Bitget

Today's Outlook

1. The Ripple Swell Conference 2025 will be held in New York from November 4 to 5, 2025, and is expected to discuss major developments in digital payment evolution and the RLUSD stablecoin.

2. Hong Kong FinTech Week 2025 will be held at the Hong Kong Convention and Exhibition Centre from November 3 to 7, 2025. Industry leaders and regulators will provide forward-looking insights in the next 24 hours.

3. The Second Circuit Court of Appeals in the United States will hear the debate on the motion for reconsideration of FTX founder SBF on November 4, 2025, becoming the focus of attention in the cryptocurrency industry.

Macro & Hotspots

1. The cryptocurrency market is experiencing severe volatility, with over 330,000 people liquidated and the liquidation amount reaching $1.279 billion. Federal Reserve officials have been speaking intensively, hinting at a rate cut. CME expects a 67.3% probability of a 25 basis point rate cut in December.

2. The EU plans to expand ESMA's regulatory powers to create a “European SEC”, aiming to unify the management of stock and crypto trading, with a draft to be released in December.

3. Animoca Brands announced plans to go public on NASDAQ through a reverse merger with Currenc Group, with Animoca owning 95% of the new company after the merger, which is expected to be completed by 2026.

4. The decentralized trading protocol Balancer has been attacked, resulting in losses exceeding $120 million. It is currently handling the situation urgently and has committed to full compensation for users.

Market trends

1. BTC and ETH have experienced short-term fluctuations and declines, with market sentiment being cautious. In the past 4 hours, approximately 30 million USD has been liquidated, mainly from long positions.

2. The three major U.S. stock indexes closed with mixed results, with the Dow falling 0.48%, the Nasdaq rising 0.46%, and the S&P 500 increasing by 0.17%, showing clear market divergence;

3. The Bitget BTC/USDT liquidation map shows the current price at 106808 USDT. This range has a high concentration of leveraged long liquidations, and breaking below may trigger a chain liquidation, necessitating caution against severe market fluctuations.

4. In the past 24 hours, BTC spot inflow was $320 million, outflow was $293 million, resulting in a net outflow of $73 million.

5. In the past 24 hours, the net outflow of contracts for cryptocurrencies such as BTC, ETH, USDT, XRP, and BNB has led, or there may be trading opportunities.

News Updates

1. The EU is formulating plans to expand central regulation of stock and cryptocurrency service providers, promoting regulatory unity.

2. The Malaysian Digital Minister stated that they are working with the Securities Commission and the Central Bank to develop a national regulatory framework for blockchain and asset tokenization.

3. FTSE Russell collaborates with Chainlink to bring global index data such as the Russell 1000 on-chain.

4. ETF Store President Nate Geraci predicts that the spot XRP ETF is expected to launch within the next two weeks.

Project Progress

1. Balancer: Hacked, TVL dropped from $776 million to $406 million in the past 24 hours.

2. Bitget: Will launch Kite (KITE) spot trading in the Innovation Zone, Public Chain Zone, and AI Zone.

3. Bitwise: Solana Staking ETF (BSOL) saw a net inflow of $417 million last week.

4. MetaMask: Clarification of the rewards points program, with over $30 million in LINEA token incentives in the first season.

5. Donut Labs: Web3+AI browser project completed $15 million seed round financing.

6. X Layer: Public chain accelerates the layout of the x402 payment ecosystem, with the CodeNut platform being the first to integrate.

7. BNB Chain: Officially launched the Fermi hard fork, reducing the block interval to 450 milliseconds.

8. VeilWallet: Launching the genesis airdrop on the BSC chain, registered users can receive 100 VEIL Tokens.

9. BitMine Immersion Technologies: Increased holdings by 82,353 Ethereum, total holdings reached 3,395,422 ETH.

10. MicroStrategy: Last week, increased its holdings by 397 BTC at an average price of $114,771, bringing its total holdings to 641,205 BTC.

Disclaimer: This report is generated by AI, and human input is only for information verification, not for any investment advice.