The cryptocurrency market faced another turbulent week as Bitcoin declined following the U.S. midterm elections, institutional investors withdrew funds from crypto ETFs, and Binance revealed new details about its massive security breach.

November 2 - 8, 2026

Bitcoin Declines as ETF Outflows Accelerate

Bitcoin briefly climbed above $80,000 following the U.S. midterm elections on November 3 before falling below $75,000 over the weekend. Concerns about future cryptocurrency regulation, weakness in technology stocks, and broader economic uncertainty contributed to the decline.

U.S. spot Bitcoin ETFs recorded approximately $1.28 billion in net outflows between November 2 and 6, indicating weaker institutional demand. Ethereum and other major cryptocurrencies also faced selling pressure.

Binance Reveals Details of $6.34 Billion Hack

Binance published preliminary findings about its October 29 security breach, which resulted in approximately $6.34 billion in stolen cryptocurrency.

According to the exchange, attackers compromised employee devices and exploited internal systems, including an AI tool, to access wallet infrastructure. Binance reported that approximately $2.85 billion had been frozen or intercepted and pledged to cover customer losses while strengthening security measures.

Samsung Wallet Introduces USDC on Solana

Samsung launched a stablecoin feature allowing eligible U.S. Galaxy users to buy, hold, send, and receive USDC directly through Samsung Wallet.

Built on Solana, the service supports transfers to external wallets and qualifying bank accounts in more than 60 countries. The integration represents another step toward making stablecoin payments accessible to mainstream consumers.

U.S. Regulators Target MEXC Global

On November 6, the U.S. Treasury's Financial Crimes Enforcement Network issued an order restricting MEXC Global's access to the American financial system.

Authorities alleged that the exchange facilitated at least $16 billion in illicit transactions connected to sanctions evasion and cybercrime. MEXC stated that it was reviewing the allegations and that customer assets remained secure.

Zcash Activates Major Network Upgrade

Zcash activated its NU7 network upgrade, reducing its target block interval from 75 seconds to 25 seconds.

The upgrade aims to improve transaction processing and introduces a mechanism that reserves 60% of transaction fees for future network security incentives. It marks an important technical milestone for the privacy-focused cryptocurrency.

Conclusion

The week highlighted the cryptocurrency industry's ongoing challenges with market volatility, security, and regulatory uncertainty. However, developments in stablecoin payments and blockchain infrastructure demonstrated that technological progress and mainstream adoption continue despite difficult market conditions.