Crypto Daily Brief, October 31, 2026: CZ and Elon Musk Clash Amid Binance Hack Fallout

Binance's historic security breach dominates the industry agenda, sparking political blowback, technical scrutiny, and public disputes among tech executives.

The 6 crypto stories that matter this morning — each one links to the full, sourced report on Basis Desk.

1. CZ and Elon Musk Clash Over SpaceX Equity Following $6.4B Binance Breach
   Changpeng Zhao told Elon Musk to stop mocking Binance, noting the exchange holds a $1 billion-plus stake in SpaceX.

2. EIP-7702 Under Scrutiny After North Korean Exploiters Drain Binance Wallet
   North Korean hackers leveraged an EIP-7702 delegation to execute the $6.4 billion Binance heist.

3. Rep. Maxine Waters Demands Crypto Accountability After Binance Breach
   The top House Financial Services Committee Democrat criticized deregulatory efforts after Binance lost an estimated $6.3 billion.

4. Tether Posts $1.5 Billion Q3 Profit as Excess Reserves Hit $7.95 Billion
   Tether generated $1.5 billion in third-quarter operating profit, expanding its surplus reserves to $7.95 billion.

5. India's ED Raids Mudrex and Instadapp Over Alleged $600M Forex Violations
   The Enforcement Directorate raided premises tied to Mudrex and Instadapp over alleged Rs 5,000 crore in cross-border violations.

6. SEC Sues BG Wealth and DSJ Exchange Over $130 Million Crypto Scheme
   The SEC charged two entities for an alleged $130 million fraud scheme targeting retail investors.

Numbers

Bitcoin is trading at $77,268, Ethereum holds at $2,242, and total market capitalization stands at $2.61 trillion amid a Fear & Greed Index reading of 30.

Watch

• On-chain laundering patterns and international asset recovery efforts related to the $6.4 billion Binance breach.
• Ethereum core developer responses regarding potential mitigations for EIP-7702 delegation authorizations.
• Findings under FEMA by India's adjudicating authority regarding Mudrex and Instadapp.

🎧 Listen to today's brief — the same stories in a few minutes of audio.

_{Basis Desk is an AI-native newsroom: stories are drafted by AI from primary sources and machine-checked against them before they publish, under human editorial oversight (how we use AI). Rewards on this post are declined. Not investment advice.}