What has been happening this week in the world of blockchain and cryptocurrencies? Current events and background reports in our weekly review.
Selected articles of the week:
Crypto exchange Binance suffered the largest hack in crypto history this week. Crypto assets flowed out across ten blockchains in about 20 minutes, and Binance estimates the damage at USD 6.3 billion. That is more than four times the previous record at the exchange Bybit. In addition, the sum far exceeds everything attackers stole in the whole of 2025. Several analytics firms see North Korea as the perpetrator. Around USD 3 billion has since been frozen, mainly because the stablecoin issuers Tether and Circle can block individual addresses. However, the attacker still holds around USD 3.3 billion that no issuer can block. Binance nevertheless intends to cover all losses and has set aside USD 6.34 billion from company funds for this purpose. For now, withdrawals remain suspended. Binance aims to resume them gradually from Sunday, although it calls this a target rather than a commitment. In addition, Binance will publish proof on Monday that its reserves cover customer balances. As a result, crypto is once again making mainstream headlines because of a scandal. Binance also carries a burden from its past. In 2023, it pleaded guilty in the US to anti-money laundering violations and paid a USD 4.3 billion fine. Accordingly, the market reacted nervously: the Binance token BNB lost around 8%, and crypto stocks such as Coinbase also fell. However, whether customers actually withdraw their trust from the exchange will only become clear once withdrawals resume. Binance currently reports around USD 134 billion in customer funds.
The Binance hack, estimated at USD 6.3 billion, exceeds Bybit’s record more than fourfold, while Tether and Circle have already frozen billions.
NYSE parent ICE targets retail investors with Hyperliquid
NYSE parent Intercontinental Exchange (ICE) plans to open a new futures market to US retail investors. Its partner is Trade[XYZ], in which ICE is also taking a minority stake. The company offers perpetual futures on the trading platform Hyperliquid, meaning futures without an expiry date, usually leveraged. They reference stocks, indices, commodities and currencies. So far, only users outside the US have access, yet volume topped USD 650 billion in just over a year. For its US business, ICE is building its own regulated structure with identity verification. In addition, macro investor Stan Druckenmiller revealed himself as a backer of Trade[XYZ]. However, he did not disclose the size of his stake, nor did ICE disclose its own. Following the announcement, the Hyperliquid token HYPE rose by up to 20% to over USD 96. There is no launch date yet, since the US futures regulator CFTC must approve first.
![ICE wants to offer regulated Hyperliquid perps to US retail investors through Trade[XYZ], a firm in which Stan Druckenmiller has invested.](https://cryptovalleyjournal.com/wp-content/uploads/2026/03/CVJ.CH-NYSE-ICE-OKX-450x300.jpg "ICE plans to bring Hyperliquid perps to the US with Trade[XYZ]")
ICE wants to offer regulated Hyperliquid perps to US retail investors through Trade[XYZ], a firm in which Stan Druckenmiller has invested.
Ripple places stablecoin reserves under federal supervision
Crypto payments company Ripple has received final approval from the US banking regulator OCC for its own trust bank. Such a bank may manage and hold assets in trust, but it may neither accept deposits nor issue loans. Going forward, it will hold the reserves behind RLUSD, Ripple’s stablecoin pegged to the US dollar. A separate company in New York, however, will continue to issue the token itself. As a result, two regulators oversee the structure: New York’s financial regulator and the OCC. That said, holders do not gain a government guarantee. Politically, the OCC’s approval practice remains controversial, because the association of US regional banks sued the agency this month. It accuses the OCC of letting crypto firms into the banking system without the same scrutiny as local banks.
Ripple reports final OCC approval for its national trust bank, which will manage the reserves of the RLUSD stablecoin under federal oversight.
Prediction markets overtake crypto at Robinhood
US online broker Robinhood missed earnings estimates in the third quarter. It earned USD 0.51 per share, while analysts had expected USD 0.55. Crypto trading performed particularly poorly, with revenue plunging 55% to USD 120 million. This was because trading volume in its retail app shrank by almost half. By contrast, prediction markets, where customers bet on the outcome of events, grew strongly. Their revenue more than sextupled to USD 173 million, surpassing crypto trading. Overall, net revenue rose 12% to a record USD 1.42 billion despite the crypto slump. However, higher costs and book losses on an in-house fund weighed on profit. The stock fell around 7% to USD 87.60 in after-hours trading. According to management, October trading volume was roughly in line with the previous quarter. In prediction markets, it was about 10% higher.
Robinhood missed third-quarter profit estimates as crypto revenue fell 55% to USD 120 million and prediction markets overtook crypto.
Bitcoin slides to a six-week low
In addition: Bitcoin fell below USD 80,000 this week after Samsung and the US Federal Reserve weighed on market sentiment. The South Korean group reported record profit but narrowly missed analysts’ high expectations. Since Bitcoin currently tends to move with tech stocks, the disappointment spread to the crypto market. Moreover, the Fed left its key interest rate unchanged, although two members wanted to raise it. The market therefore read the decision as a signal of further rate hikes. After all, higher interest rates make assets without ongoing income, such as Bitcoin, less attractive. Exchanges then forcibly closed leveraged positions worth around USD 356 million, which added to the selling pressure. Following the hack at the crypto exchange Binance, the price fell further to a six-week low. On Saturday morning, it stood at around USD 77,300. As a result, Bitcoin is heading for a monthly loss.
Bitcoin slips below USD 80,000 in the Asian session as Samsung’s quarterly results and the Fed’s rate decision weigh on risk assets.
