1. Decentralized trading protocol Balancer attacked
Decentralized trading protocol Balancer suffered an attack today, resulting in losses exceeding $120 million. BlockSec's preliminary analysis suggests that attackers manipulated the stability pool invariant, distorting the price calculation of BPT (Balancer Pool Token) and exploiting batchSwap for arbitrage. Berachain validators have immediately suspended on-chain operations to prevent the Balancer vulnerability from spreading to the BEX platform, primarily affecting the USDe pools. Balancer officials stated they are currently addressing the cross-chain attack and have promised full compensation to all users.
2. This week's large-scale token unlocking
Over the next 7 days, single large unlocks (unlocking amount greater than $5 million) include ENA, MEME, MOVE, BB, RED, SXT, MAVIA, etc.; over the next 7 days, linear large unlocks (single-day unlocking amount greater than $1 million) include SOL, TRUMP, WLD, DOGE, AVAX, ASTER, TAO, IP, ETHFI, etc., with a total unlocking value exceeding $312 million.
3. Trump responds to external criticism regarding his pardon of Binance founder CZ(CZ).
In an interview with CBS's "60 Minutes," US President Trump responded to questions about his pardon of Binance founder CZ(CZ), saying, "I don't know him. I've only heard it was part of a witch hunt by the Biden administration." When the host mentioned that Binance had assisted the Trump family's crypto project, World Liberty Financial, in $2 billion worth of stablecoin transactions, Trump denied any quid pro quo, stating that he "knows nothing about it" and emphasizing that "my sons are running it; they're not government officials."
4. QCP: OG selling pressure caused Bitcoin to fall back, which may be a calm before the rise or the beginning of a winter.
QCP Capital points out that BTC fell from $110,000 to $107,000 at the beginning of the month, mainly due to continued selling by early holders, resulting in the first "Red October" since 2018. Despite stable leverage and funding rates, BTC absorbed over 400,000 coins of selling pressure and remained above $100,000. QCP suggests this could be the calm before a new rally, or it could be the beginning of a Crypto Winter.
5. BitMine Immersion increased its holdings by 82,300 ETH in the past week.
BitMine Immersion Technologies (BMNR) announced that it added 82,300 ETH in the past week, bringing its total crypto assets and cash holdings to approximately $13.7 billion as of November 2, including 3.395 million ETH, 192 BTC, and $389 million in cash.
6. Wu Blockchain analysis of this week's macroeconomic indicators: US non-farm payrolls report, Bank of England interest rate decision.
summary
Last week, the Federal Reserve cut interest rates by 25 basis points and indicated that it would end its balance sheet reduction in December, while the European Central Bank and the Bank of Japan both kept their interest rates unchanged. This week, the focus will be on the US non-farm payroll report and the Bank of England's interest rate decision.
Last week's review
The Federal Reserve announced its interest rate decision (upper limit) at 4.00%, in line with expectations, down 25 basis points from the previous rate of 4.25%. According to the FOMC statement, after the balance sheet reduction ends on December 1, 2025, all principal payments on maturing U.S. Treasury securities will be rolled over at auction, and all proceeds from principal redemptions from agency debt and mortgage-backed securities (MBS) will be reinvested in short-term Treasury bills. Wall Street Journal reporter Nick Timiraos pointed out that Powell's remarks at the press conference indicated that the FOMC as a whole does not agree with the market's high pricing of a December rate cut. Powell stated that there is "strong disagreement" about the policy path in December, and a rate cut is "far from certain." Timiraos believes that this statement goes beyond the usual "policy not predetermined path" language, reflecting the Fed's intention to restore flexibility in decision-making. He also pointed out that in the absence of key economic data, high uncertainty may lead the Fed to act more cautiously.
The European Central Bank kept its deposit facility rate unchanged at 2%, in line with market expectations, marking the third consecutive meeting where it held the rate steady.
The Bank of Japan kept its interest rate unchanged at 0.5%, marking the sixth consecutive time it has held steady, in line with market expectations.
Key events & indicators this week
November 03
The next vote in the U.S. Senate on advancing an appropriations bill to end the government shutdown is expected to begin as early as the evening of November 3 (tentative).
November 05
US October ADP Employment Change (thousands) (21:15)
Trump may personally attend the hearing to observe the US Supreme Court's crucial "tariff ruling" (pending).
November 06
Bank of England interest rate decision on November 6 (20:00)
US initial jobless claims for the week ending November 1 (in thousands) (21:30)
November 07
US October unemployment rate (to be determined)
US October seasonally adjusted nonfarm payrolls (in thousands) (to be determined)
November 09
China's October CPI year-on-year rate (20:30)
