Wan-B 💙💙💙

It has been an eventful week across crypto, with major developments in exchange security, decentralised trading, institutional adoption, and DeFi infrastructure. Let's get into it. 1. Binance Gets Hacked: A $6.3 Billion Wake-Up Call for Crypto Security Binance reported a major hack involving its hot wallets, with approximately $6.3 billion in affected assets according to its estimates. The exchange subsequently committed $6.34 billion to cover the affected funds and worked towards restoring normal withdrawal services. 2. DEX Trading Continues to Gain Ground Decentralised exchanges are taking up a growing share of crypto trading activity. Over the past five years, the DEX-to-CEX spot trading volume ratio has grown more than threefold, reflecting increased activity across onchain trading platforms. 3. Aave Adjusts Its Lending Markets Aave raised borrowing limits before temporarily freezing affected markets and subsequently reopening them with tighter risk parameters. 4. DTCC Takes Another Step Towards Tokenization The Depository Trust & Clearing Corporation (DTCC) activated its tokenization service, bringing traditional securities infrastructure closer to blockchain-based markets. Meanwhile, Robinhood's tokenized stock offerings attracted objections from several companies whose shares were represented, raising further questions about issuer consent and ownership rights. 5. Chainlink Connects Institutional Custody to DeFi Chainlink introduced CustodySync, designed to help institutions access DeFi lending opportunities using assets held with institutional custodians. 6. Uniswap Expands Its Trading Infrastructure Uniswap introduced Aggregator Hooks for Uniswap v4, allowing the protocol to connect with external liquidity sources when routing trades. 7. Ethena Introduces Earn+ Ethena launched Earn+, a DeFi vault offering a target APY of up to 12% for eligible neobank users. 8. Utah Takes Legal Action Against Kalshi Utah filed criminal charges against Kalshi and its founders over the company's prediction market operations. WHAT TO WATCH NEXT WEEK: Here are some upcoming dates and developments worth keeping on your radar: - November 2: Extended is expected to announce its tokenomics. - November 3: Ethereum Devcon begins, alongside the US midterm elections. - November 4: Voting closes on the Osmosis proposal to burn 7% of the OSMO supply. - November 5: Stacks holds its monthly ecosystem update, while Zcash's NU7 upgrade is scheduled. - November 6: Approximately 180,000 HYPE tokens are expected to be unstaked and distributed to the Hyperliquid team. For builders, investors, and everyone in Web3, keeping up with these changes is part of understanding where the next opportunities and risks may emerge. Happy New Month, fam 🤭