Custody Doubts & a Blue Congress

Bitcoin traded at $78,077 at about 07:45 UTC on November 4, 2026, 38% below its $126,156 all-time high, after a November 3 close of $77,406. Price is still working through the range mapped in the Coinjuice LIVE session. The price did not move much through a night of election results. Meanwhile, custody trust is being repriced while institutions keep building rails that depend on it.

Binance Breach: A Fake Job Interview Opened a Months-Long Campaign

The November 2 Read covered the reopening and the first $3.64 billion of net withdrawals. New disclosures show how the attackers got in, and the withdrawal count has kept climbing:

• The entry point: Binance said an engineer was approached in September through a legitimate job platform, then told to download a coding assignment carrying malware. BBC and TechTarget report the malware used obfuscation to evade endpoint detection.

• The longer timeline: Binance also disclosed a tampered Homebrew incident from June, and co-CEO Richard Teng described a campaign “built over many months.”

• The path to the wallet: On October 20, the attackers used a compromised device and internal AI tools to reach two other engineers’ devices and find a deployment token, per TechTarget. On October 29 they exploited EIP-7702 to gain execution permissions over a hot wallet, per CoinDesk.

• The withdrawals: Customers had withdrawn a net $4.72 billion since the November 1 reopening as of 11:28 UTC on November 3, per CoinDesk. That is up from $3.64 billion over the first 9.5 hours.

• The size of the loss: CoinDesk has reported the theft at both $6.3 billion and $6.4 billion but neither figure is confirmed final. Both reports put about $2.85 billion frozen or seized, and Binance says about 98% of affected tokens have been replenished with company funds.

• The attribution dispute: North Korea denied involvement through state media. Elliptic said its on-chain evidence supports the FBI’s attribution to TraderTraitor, while AMLBot noted that wallet analysis can link addresses to one actor but cannot prove state sponsorship.

• Separate incidents: Brazil’s Mercado Bitcoin puts its own loss at about $38 million, with $11 million frozen and all customer losses covered. CoinDesk says there is no public evidence linking it to the Binance hack. ZachXBT has flagged a suspected, unconfirmed $106 million loss at an unnamed EU entity and says he is highly confident it was not Lazarus.

Blue Congress: Crypto Rules Now Need Democratic Votes

The midterm result changes who writes the rules from January:

• The outcome: NBC News, CBS News and AP project Democratic control of both the House and the Senate.

• The Banking gavel: American Banker reports Elizabeth Warren will likely chair the Senate Banking Committee, which means SEC nominees will need Democratic support.

• The Agriculture gavel: The Block notes Senate Agriculture holds jurisdiction over digital assets and prediction markets, and Sherrod Brown could chair it.

• Spending did not decide Ohio: Brown won his Senate race after the crypto industry spent about $63 million opposing him, per CoinDesk.

• A new starting point: CoinDesk notes Bitcoin traded about 5.2% above its 200-day simple moving average on election day. In 2014, 2018 and 2022 it sat about 35%, 9% and 22% below it.

• History as context, not forecast: DWF Labs’ Martin Lee says the first months after a midterm have historically been choppy, though Bitcoin was higher 12 months later every time. That record covers three elections. For the calendar backdrop, see Coinjuice’s Bitcoin November seasonality data.

Tokenization Rails: Institutions Keep Building Through the Doubt

While depositors questioned one custodian, institutional builders kept laying track:

• NYSE roster: Broadridge, Computershare, Equiniti and Superstate join Securitize and tZERO as transfer agents, the firms that keep a company’s official record of who owns its shares, for the NYSE’s planned tokenized securities platform. The first three together keep those records for nearly 5,000 listed companies, including almost 99% of the S&P 500. The platform has not launched, and 24/7 trading and stablecoin funding remain subject to regulatory approval.

• Onchain voting: Broadridge will also provide on-chain shareholder voting through supported digital wallets, brokerages or its ProxyVote system.

• Issuer pushback elsewhere: CoinDesk’s November 3 tally shows 49 of the 62 companies first picked for the separate OKX–ICE venue have objected, about 79%. Amazon, Tesla, SpaceX, Netflix, SoFi and Lam Research were the latest. The remaining 13 have not disclosed an objection, which is not the same as an endorsement.

• Bitcoin yield inside custody: BitGo launched BTC rewards through Stacks for eligible institutions. The BTC stays timelocked in custody, and participation requires STX worth 5% of the staked BTC.

• A UAE treasury model: Standard Asset Company, announced October 27, opened its Abu Dhabi Global Market headquarters for an anticipated $1.5 billion strategy pairing a bitcoin reserve with UAE hotels and branded residences. Coinbase Asset Management is the exclusive bitcoin manager. The company has not disclosed how much bitcoin it holds or how the $1.5 billion splits.

• A slowing corporate stack: Coinbase holds 18,000 BTC. Coinbase added 643 BTC in Q3, against 819 in Q2 and 1,103 in Q1.

ETF Flows: IBIT Leads a Third Straight Outflow Session

Source: DefiLlama ETF flow data, latest reported flow day November 3, 2026, as of about 07:48 UTC November 4. The window covers five trading sessions.

• Selling continued: November 3 was the third consecutive outflow session after October 30 and November 2. IBIT alone accounted for more than the four-fund total, as FBTC’s small inflow partly offset it.

• The week: The four funds lost $945.0 million over five sessions, about $189.0 million per session. Across all funds, the week topped $1 billion in outflows.

Technicals: BTC Holds Its 200-Day EMA but Sits Near the Lower Band

Source: Indicators calculated on DefiLlama completed daily closes through November 3, 2026.

• RSI at the line: On the completed candle, RSI sits just under 40. At the live price of about $78,077 it reads about 40.1, so the next daily close decides whether 40 acts as support.

• Two different 200-day lines: The 200-day EMA sits about 1.24% below price, while the 200-day SMA sits about 5.8% below. Both are rising.

Moving Averages Across Timeframes

Source: Thanks to CryptoQuant for the data. Percentages show price versus each average.

• Overhead cluster: The 1D 20 and 50 sit between $80,316 and $81,909, the same band that capped price in late October.

• Support stack: The 100-day average sits just below price at $76,661, close to the 200-day EMA at about $76,461.

For technical analysis from a wide range of analysts, see the CryptoQuant QuickTake community.

Coinjuice Lens: Bitcoin Ownership

The Binance breach did not break Bitcoin. It broke one company’s operational chain, and customers answered by moving coins. Once those coins leave an exchange, the security questions move with them, which is the subject of Coinjuice’s guide to Bitcoin self-custody security layers. Custody trust is being repriced while institutions keep building rails that depend on it.

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News Behind Today’s Read

• Binance co-CEO Richard Teng says hackers used fake job interviews, AI tool to steal USD 6.3 billion in crypto(CNBC). Source for the June tampered Homebrew incident, the September fake interviews, the malware built to evade detection and Teng’s account of a campaign built over months.

• Bitcoin steadies after dip to USD 76,300 as ETF outflows and midterm elections weigh on crypto (CoinDesk). Source for the USD 4.72 billion net Binance withdrawals since reopening and the Mercado Bitcoin incident.

• North Korea denies role in USD 6.4 billion Binance hack after FBI points to TraderTraitor (CoinDesk). Source for the denial via state media, Elliptic’s on-chain support for the FBI attribution, the USD 2.85 billion frozen and AMLBot’s caveat on what wallet analysis can prove.

• Live election results for 2026 midterms as Democrats decisively win control of House and Senate (CBS News). Source for the projected Democratic control of both chambers.

• NYSE tokenized stock plans take shape as four more transfer agents join (CoinDesk). Source for the transfer agent roster, its reach across the S&P 500 and Broadridge’s onchain voting role. CoinDesk’s parent company Bullish is acquiring Equiniti.

Continue the read: Nov. 3 · Nov. 2 · Oct. 31

Market Snapshot

Prices and TVL as of November 4, 2026, about 07:45 UTC; five-asset share as of about 06:03 UTC. Source: DefiLlama.

This article was developed with the support of artificial intelligence tools as part of Coinjuice’s editorial process and reviewed by our editorial team before publication.