# Crypto Market Recap Source: https://investingnews.com/cryptocurrency-market-recap Kiwi News: https://news.kiwistand.com/stories/Crypto-Market-Recap?index=0x68617bbe0c59b3cc2cef328f2c7a1d50b06a5b4b8be305cd7d4a02cc16e1460a3a92cc2a Submitted by @crazygamer16 on 2025-06-29 UTC, 26 upvotes, 0 comments ## Summary The U.S. Commodity Futures Trading Commission (CFTC) has issued two measures defining prediction market event contracts as federal swaps while excluding casino-style gambling and sportsbook wagers. On October 9 the agency opened a proposed rule for public comment that expands the federal "swap" definition to cover event contracts tied to sports, politics, culture and weather. CFTC Chair Michael Selig said these products fall within the agency's exclusive jurisdiction, and both measures carry 30-day public comment windows. ## Article Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news. Here's a quick recap of the crypto landscape for Wednesday (November 4) as of 10 p.m. UTC. Bitcoin price update Bitcoin (BTC) was priced at US$79,964.59, trading 3.2 percent higher over the past 24 hours. Bitcoin price chart Bitcoin price performance, November 4, 2026. Chart via the Investing News Network Bitcoin slid to a seven-week low overnight as US midterm results showed Democrats winning control of both the House and Senate. It recovered quickly, climbing back above US$80,000 by the time Wall Street opened, as stocks rallied on the results. Experts are split on whether the outcome was already built into the price. Jordan Schlosser, chief technology officer and co-founder of IPX Exchange, told INN the Democratic sweep was priced in well before the polls closed. Blockware CEO Megan Anderson disagreed. She said the market cares more about the event being behind it than about who won. Anderson added that a Democratic Congress working with a Republican president means gridlock, which could mean fewer policy surprises for Bitcoin. Schlosser said interest rates, the amount of money available to invest and demand for Bitcoin funds matter far more from here than which party controls Congress. Cake Wallet CEO Vik Sharma cautioned against reading too much into one day of trading. “I'd watch what gets proposed and passed, not just who wins,” he said. Ether and altcoin price update Ethereum (ETH) was priced at US$2,406.70, trading five percent higher over the last 24 hours. XRP (XRP) was priced at US$1.30, trading 1.5 percent higher over the past 24 hours. Solana (SOL) was trading at US$94.47 trading 1.3 percent higher over the past 24 hours. Today's crypto news to know Binance update on October 29 hack Binance published a technical report on Tuesday (November 3) on the October 29 attack that took about US$6.34 billion from its hot wallets. The report says the groundwork began in June. A wallet engineer installed a tampered copy of the software tool Homebrew while looking for an AI coding tool. Binance caught it and replaced the device, but the attackers had already learned who worked on its wallet team. In September, someone posing as a project director on a legitimate job site contacted a second engineer. After two rounds of interviews, the second with a person claiming to be a company CEO, the engineer was told to download a coding assignment. It hid malicious software that Binance’s security tools did not catch. On October 20, the attackers used that engineer’s computer and an internal AI tool to take control of two more engineers’ computers. On October 29, they used stolen login details to reach the service that approves wallet transactions. They sent funds out of several hot wallets and gave an outside contractor control over one Ethereum hot wallet. Pausing withdrawals could not stop all of the theft, the report says, because that permission sat on the blockchain itself, outside Binance’s normal withdrawal system. Binance says about US$2.85 billion has been frozen or intercepted, a figure still subject to reconciliation and price swings. As of October 31, it had replaced 98 percent of the affected tokens with its own funds. Stock perpetual futures cleared for US exchanges as security futures US exchanges can now list perpetual futures on individual stocks, CFTC Chair Michael Selig said on Tuesday (November 3). The Commission deemed the contracts approved under Regulation 40.3, meaning its review window closed without objection. As security futures under the Commodity Futures Modernization Act of 2000, the contracts fall under both CFTC and SEC oversight. Only venues that are CFTC-designated contract markets and SEC notice-registered for security futures can list them. Selig’s statement names no exchanges and no tickers. Selig said bringing the products into regulated markets lets American investors and traders use them “within the protections of the CFTC’s proven regulatory framework, rather than being forced to turn to offshore, and often unregulated, venues.” The CFTC approved the first true bitcoin perpetual futures contract on a CFTC-regulated exchange earlier this year. Selig said Tuesday’s decision extends the instrument beyond digital commodities into traditional securities. Kalshi, Coinbase Derivatives, and Bitnomial all filed perpetual futures rules on September 18. Kalshi’s filing covers up to 58 contracts on large caps including Apple (NASDAQ:AAPL), NVIDIA (NASDAQ:NVDA) and Tesla (NASDAQ:TSLA), while Bitnomial’s starter list has ten names. Coinbase Vice Chairman Ryan VanGrack said the exchange is “getting equity perps ready for U.S. customers.” No venue has set a launch date. OpenAI offers to cut AI facility power use OpenAI launched a national program on Monday (November 2) under which its future AI facilities would cut electricity use during emergencies and periods of high demand. Under the Grid Protectors Program, OpenAI would work with utilities to set how much power its facilities could temporarily stop drawing, how quickly they could respond and for how long. The company is also exploring on-site batteries and power generation to manage demand. “Families and small businesses should not be asked to subsidize a compute campus’s electricity needs,” OpenAI said in its announcement. Its first example is a planned facility in Effingham County, Georgia. OpenAI signed a 25-year agreement with Georgia Power covering about 3,200 megawatts of demand, with up to 1,000 megawatts available for temporary reductions. The agreement requires OpenAI to cover the full cost of the infrastructure needed to serve the site. Georgia Power plans to begin delivering electricity in 2028 and expand supply in phases through 2032. Georgia Power projects about US$950 million in annual customer savings from 2029, or at least US$15 a month for a typical household. That estimate covers the utility’s broader portfolio of large customers and expected growth, not OpenAI’s project alone. OpenAI has not disclosed binding demand-reduction commitments for any other facility. Data center power use has become a political issue across the US. Pennsylvania introduced restrictions on large data centers in August, including measures to protect residents from higher electricity costs. In March, OpenAI and six other tech companies signed a White House pledge to pay for the electricity and grid upgrades their AI projects require. Circle discloses 5 percent job cut Circle cut about 5 percent of its workforce, the USDC issuer disclosed in its third-quarter earnings release on Wednesday (November 4). The company said in footnotes to its financial tables that it “designed to better align our organizational structure with our operating model and strategic priorities” the reduction. Circle did not say how many employees the cuts affected or which teams lost staff. It booked US$9.1 million in restructuring expenses, mostly cash payments for notice periods, severance and benefits, partly offset by a US$5.7 million reversal of stock-based compensation as departing employees forfeited unvested shares. The cuts came in a profitable quarter. Net income from continuing operations rose 5 percent to US$226 million, and total revenue and reserve income climbed 17 percent to US$865 million. CEO Jeremy Allaire did not mention the job cuts in his comments on the results, stating instead USDC carried 79 percent of all stablecoin transaction volume, up from 66 percent a year earlier, and that Circle’s payments network ended the quarter at US$41 billion in annualized volume, up 15-fold. “In January, the GENIUS Act takes effect and regulated digital dollars go mainstream,” Allaire wrote on X. “Every layer of our platform is live and ready for it.” Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article. Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.