Daily Brief: TRM Labs Links $6.36B Binance Drain to North Korea

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TRM Labs Attributes $6.36B Binance Drain to North Korea

TRM Labs linked the Oct. 29 multi-chain Binance drain to North Korea's TraderTraitor unit, with stablecoin issuers freezing roughly $2.7 billion.

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Strategy Posts $20.9B Q3 Operating Gain via Bitcoin Markup

Fair-value accounting drove a massive paper profit for Strategy despite software operating losses, while the company sold 5,552 $BTC and CFO Andrew Kang resigned.

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Coinbase Q3 Net Income Reaches $719M

The exchange generated 49% of net revenue from subscriptions and services, while its prediction markets product surpassed a $200 million annualized run rate.

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Anthropic Files S-1 Registration for Nasdaq IPO

The AI firm filed to list under the ticker ANT, outlining a multi-class structure that gives co-founders 50.1% general voting control with zero economic rights.

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Polymarket Breach Drains Trader Assets

A malicious third-party analytics script hijacked active trading sessions, leading to unauthorized liquidations and one user reporting an $800,000 loss.

The numbers

Bitcoin fell 3.2% to $77,619 and Ethereum dropped 3.4% to $2,244, as the Fear & Greed Index hit 30.

What to watch

• Binance's formal root-cause analysis detailing the hot wallet compromise
• The SEC's decision to declare Anthropic's registration statement effective
• Coinbase's Q4 volume trajectory across prediction and derivatives markets

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