Trending in the United States: Cryptocurrencies

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The Democrats achieved a decisive victory in the midterm elections for Congress, gaining control of both chambers. Trump's Reaction: - I acknowledge the election results and will become Mr. Veto. - Fox News is a terrible channel. - Republicans could have won by a huge margin if Trump had been on the ballot.

🔥 JUST IN: $10T Morgan Stanley is among the first banks to tokenize US equities and Treasuries through DTCC’s Tokenization Service. News | Markets | YouTube

📉 📉 📉 Mercado Bitcoin says it will cover customer losses after $38 million hack and suspends withdrawals Read Analysis

⚠️ South Korea demands stronger crypto safeguards following Binance hack ⭐️ South Korea’s Financial Services Commission has directed domestic cryptocurrency exchanges to hold more assets in cold wallets and strengthen their financial reserves following the $6.3 billion Binance hack on October 29. The meeting was chaired by Yu Young-jun, the FSC’s director of digital finance policy, and included representatives from the Financial Supervisory Service, the Financial Security Institute and the Digital Asset eXchange Alliance (DAXA). ❗️ Officials examined how domestic exchanges manage access to their internal systems, approve cryptocurrency withdrawals and control administrator privileges. Exchanges were subsequently asked to strengthen their security procedures, maintain additional reserves and prepare for suspicious transactions or unauthorized access attempts. Under South Korea’s Virtual Asset User Protection Act, cryptocurrency service providers must already hold at least 80% of customers’ deposited digital assets in cold wallets, which remain disconnected from the internet. 📊 The FSC has now asked exchanges to raise their cold storage ratios beyond their existing levels, although the regulator did not announce a new uniform minimum during the meeting. As of the end of September, Upbit held 99.17% of customer assets in cold storage, followed by Bithumb at 94.76% and Coinone at 85%. DigitalEx and GOPAX reported ratios of 82.79% and 80.54%, respectively.

UPDATE: ⚡️ Binance published its initial findings from last week’s security incident, saying it has replenished 98% of impacted assets and frozen $2.85B in stolen funds. It says it has also rebuilt affected wallet systems and internal AI tools, replaced compromised engineer devices, enhanced AI-based anomaly detection, and strengthened wallet-service risk controls.