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Lorenzo Valente, head of digital asset research at ARK Invest, said a string of major cryptocurrency thefts amounts to a “Hidden Tax” that erodes the sector’s competitiveness and raises the cost of storing value. Valente said that just as retailers pass theft-related losses on through product prices, the blockchain industry ultimately shifts hacking losses to end users through higher fees and security premiums. According to the data cited, the virtual asset industry’s average annual market-cap loss rate from hacks since 2018 reached 24 basis points, or 0.24%. By comparison, the loss ratio from fraud and financial incidents in the U.S. traditional banking system was 1.7 basis points, or 0.017%, meaning the crypto industry’s loss burden was estimated at about 14 times that of traditional finance.

Ondo Finance said USDY prices have begun updating in real time on Ethereum, BNB Chain, Mantle and Tempo. The company said holders can earn yield based on the actual time they hold the asset, even over just a few hours. It added that users can continue earning yield while borrowing against USDY as collateral, and can move the token across 11 networks.

The record $6.3 billion hot wallet hack at Binance on Oct. 29 was carried out through internal infiltration via a fake job interview by a North Korean hacking group, according to Reuters and industry analysis. The attackers used “Contagious Interview,” a tactic widely associated with North Korea’s Reconnaissance General Bureau. They offered a DevOps engineer an attractive fake job opportunity and sent malware disguised as a coding test program, gaining access to Binance’s internal network through the compromised laptop. The attackers then exploited a hot wallet auto-signing module across 10 mainnets and stole a large amount of funds in just 20 minutes.

Aave Labs and its co-authors have submitted a legal framework on decentralized lending protocols and non-custodial vaults to the U.S. SEC’s crypto task force and Division of Corporation Finance, according to AAVE. A summary of the paper was released on Nov. 3.

Former Messari analyst Ryan Watkins said on X that the U.S. CFTC’s move to allow stock perpetual futures is a huge positive for Hyperliquid, given that equities are the fastest-growing sector in the perpetual futures space. Watkins said the development came just days after TradeXYZ and ICE announced a partnership to bring Hyperliquid to the U.S. market, and added that signs are continuing to emerge that the regulated HIP-3 market could see major growth ahead.

Coinbase announced on its official X account the addition of perpetual futures trading for BMNR, WDC, RKLB and AAOI. Trading in the contracts began at 10:00 a.m. UTC on Nov. 9.

Mert Mumtaz, CEO of Solana infrastructure firm Helius, said Anthropic and Claude were the first to apply cryptographic technology similar to that used in Zcash on a global scale. Mumtaz also pointed to FlashProve, a research prototype Anthropic open-sourced on Nov. 2. FlashProve uses zkSNARKs to enable "provable reasoning," a technique that allows model providers to prove a specific response was generated by a given model without disclosing the model’s weights.

A California federal court is reviewing allegations that World Liberty Financial (WLFI), a venture led by President Donald Trump’s family, manipulated and concealed its nationality after the fact to evade federal jurisdiction, Tron founder Justin Sun said. Sun said he had previously filed a motion seeking strong judicial sanctions against World Liberty and defense counsel in the California federal court. According to Sun, WLFI initially told the court at the start of the case that it was a Florida-only entity, satisfying the requirements for federal jurisdiction, but after its attempt to send the dispute to private mandatory arbitration was effectively blocked, it abruptly added 22 ownership entities and began arguing the case should be dismissed for lack of jurisdiction by claiming United Arab Emirates nationality. Sun argued that WLFI had marketed and sold tokens as a thoroughly U.S.-based taxpaying company in its white paper, then invoked an offshore nationality to avoid litigation.

Scroll said a network upgrade proposal has been posted on its DAO forum to shift the project from a general-purpose chain to a permissioned network for private AI. The proposal also includes moving SCR to the Ethereum mainnet.

Tokenized reinsurance protocol re said it has launched reUSD on Monad and integrated it with Morpho and Pendle. The protocol said reUSD gives the Monad ecosystem access to the $800 billion reinsurance market and real yield opportunities.

Chainlink said it has expanded the scope of its APAC Equities Streams to cover stock markets worth more than $40 trillion across China, Japan, South Korea, Taiwan and Hong Kong. Covered stocks include TSMC, Tencent, Samsung, SK Hynix and BYD. The streams are available on Lighter, Jupiter and Predictdotfun.

Strategy (MSTR) has paid the first daily dividend on its STRC preferred stock, according to BitcoinTreasuries.

zk-SNARK-based Ethereum privacy layer-2 network Aztec launched Tierra, also known as Alpha V6, on Nov. 3, introducing performance and security upgrades that cut cross-chain message delivery from the Ethereum mainnet to Aztec to as little as 12 seconds from two minutes. The upgrade addresses key vulnerabilities in the previous V5 version and introduces mathematical formal verification and an AI-based security testing harness to strengthen contract defenses. Aztec also said it roughly halved client-side zero-knowledge proof generation time to around one second on standard devices.

The U.S. Commodity Futures Trading Commission has formally approved the first equity perpetual futures contracts to trade on a U.S. regulated exchange.

Privacy-focused blockchain Horizen (ZEN) said it will end bridging from L3 to Base at 1:00 p.m. UTC on Nov. 4. It advised users to unstake, claim ZEN rewards, transfer ZEN and USDC.e through Stargate, and withdraw ETH through the native bridge.

Cross River plans to introduce a tokenized lending platform on Arbitrum One, according to Ethereum layer-two network Arbitrum. Arbitrum One will provide the underlying infrastructure to tokenize and manage loans from the platform’s launch, while ZeroDev’s embedded wallet solution will support the customer experience. The platform was designed by Offchain’s enterprise services team.

The Crypto Council for Innovation and Aave are at odds over the standard for determining whether DeFi vaults qualify as securities, Crypto in America host Eleanor Terrett reported. CCI argued a manager’s control over and discretion in a vault’s investment strategy should be a key factor in the analysis. Aave, Veda Tech Labs and the Kamino Foundation pushed back, arguing a vault should not be classified as a security solely because a manager actively runs the investment strategy. The groups said regulators should also consider whether users retain rights to their assets and whether a legal common enterprise and an issuing entity exist.

The comment period for the U.S. SEC’s proposed cryptocurrency rules ends today, The Block reported. Bitwise and the Hyperliquid Policy Center have called for clearer standards on whether tokens qualify as securities, as well as clearer rules on airdrops, token buybacks and intermediaries in secondary markets. Hyperliquid also said the safe harbor framework should be improved so it can be used in practice.

Bitmine Chairman Tom Lee said the cryptocurrency market remained relatively stable despite the $6.3 billion Binance hack, signaling stronger resilience across the industry, according to Decrypt. Lee said ETH fell only around 4% after the hack, compared with an 8% first-day drop and a 20% decline over a week following the Bybit hack in February last year. He attributed the improved shock-absorption capacity to Binance covering its own losses, stablecoin issuers quickly freezing assets, the prevention of cascading damage in DeFi, and the early identification of North Korea as being behind the attack.

Decentralized exchange 1inch said its liquidity-sharing service Aqua has gone live on Base. Users can set positions directly from their wallets without restrictions on pools or asset lockup periods. 1inch DAO also said it will provide up to $50,000 per team to Base developers working on new Aqua strategies and SwapVM commands.

World Mobile Chain announced the start of the first phase of its WMTX recovery process. The procedure applies to eligible self-custody wallets that held under 10,000 WMTX at the time of the snapshot and whose balances have remained unchanged. The company advised users to review the guidance video and eligibility requirements before connecting a wallet.

CME Group’s average daily derivatives volume in October rose 15% from a year earlier to a record 30 million contracts, surpassing its previous high of 26.3 million contracts. Within that total, average daily crypto derivatives volume reached 145,000 contracts, with a notional value of about $7.85 billion.

Kraken said it restricted accounts linked to a more than $133 million cryptocurrency hack at a European Union institution, Cointelegraph reported. The exchange said the incident did not occur on its platform, but it is investigating signs that some of the stolen funds moved through Kraken. Kraken also stressed that no customer accounts or security systems were compromised. Suspected stolen funds were withdrawn from accounts at Kraken, Crypto.com and OKX, and $62.98 million in stablecoins was converted into 27,553 ETH in about four hours. Crypto.com also blocked related fund movements, while OKX is reviewing the matter.

ETHGas is developing “Institutional Blockspace,” a blockspace reservation service for banks and institutional investors, CoinDesk reported. Through the service, financial institutions can choose the validator that processes a transaction, verify compliance requirements, and reserve future blockspace. The goal is to make the timing of large transactions more predictable while having them processed on the Ethereum mainnet without a separate private blockchain.

Layer-1 blockchain Waves said WavesBridge will cease operations and all withdrawals will be halted after Nov. 30. Withdrawals for all supported blockchains and tokens will remain available through Nov. 30. Users must withdraw their assets before the deadline.