PA Daily | Balancer losses expand to $116 million after attack; Bitcoin Spot ETF saw net outflows of $799 million last week

Today’s Key News Reminder:

Eddie Yue: The Hong Kong Monetary Authority will take the lead in demonstrating asset tokenization, with the Ensemble project pilot plan launching soon

Standard Chartered CEO: All trades will eventually be settled via blockchain

Balancer attack losses rise to $116.6 million

HumidiFi’s 30-day volume surpasses Meteora and Raydium, leading the Solana Decentralized Finance marketplace

Binance HODLer Airdrop launches Momentum (MMT), Spot Trading goes live on November 4

Bitcoin Spot ETF saw a net outflow of $799 million last week, with BlackRock IBIT leading at $403 million

Since 2023, daily retail investor BTC inflows to Binance have plummeted from 552 to 92

Macro

Hong Kong SFC allows licensed virtual asset trading platforms to share order books with overseas platforms and sets up a compensation mechanism

The Hong Kong Securities and Futures Commission (SFC) issued a circular on “Sharing Liquidity Among Virtual Asset Trading Platforms,” allowing licensed virtual asset trading platform operators to integrate order books with qualified overseas platform operators to share liquidity, enabling cross-platform matching and trade execution. Platforms must adopt DVP settlement, intraday settlement, and monitor unsettled trade limits, and establish a reserve fund and insurance/compensation arrangements in Hong Kong to cover settlement asset risks. Market surveillance must be unified and able to provide transaction and client data to the SFC in real time. Full risk disclosure and client choice are required before retail access, with simultaneous written approval applications and additional terms and conditions.

Hong Kong SFC plans to expand licensed virtual asset trading platform product and custody scope, relaxes 12-month track record requirement

The SFC issued two circulars to facilitate licensed virtual asset trading platform operators in accessing global liquidity and expanding their product and service offerings. The “Circular on Expanding Products and Services of Virtual Asset Trading Platforms” proposes to expand products and services: First, it amends token inclusion rules, removing the 12-month track record requirement for virtual assets (including Stablecoins) offered to professional investors; licensed Stablecoins may be offered to retail investors and are exempt from this requirement. Second, it clarifies that platforms may distribute digital asset-related products and tokenized securities, and may open trust/client accounts with custodians for clients. Third, it allows affiliated entities to custody digital assets not traded on the platform, subject to existing guidelines and risk controls; tokenized securities custody may be exempted from the second-stage assessment on a case-by-case basis.

SPD Bank launches recruitment for digital RMB-related technology positions

According to SPD Bank’s official website, the Technology Development Department posted multiple digital RMB-related job openings on October 24, 2025, covering testing, development, and domain architecture design, with positions based in Chengdu. Requirements include 3 to 8 years of relevant experience, emphasis on financial system development and testing experience, distributed architecture capabilities, and understanding of digital currency protocols.

Opinions

Vitalik: Autonomous driving should be Open Source and verifiable, comma’s Open Source project Openpilot seems closest

Vitalik Buterin suggests autonomous driving should be Open Source and verifiable, with accident value judgments outsourced to third parties and insurance institutions via “compensable” algorithms, and recommends that only licensed algorithms run on public roads. He points to comma.ai’s Open Source project Openpilot (GitHub).

Eddie Yue: The HKMA will take the lead in demonstrating asset tokenization, with the Ensemble project pilot plan launching soon

Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, outlined the “Fintech 2030” vision at Fintech Week, aiming to develop Hong Kong into a robust, resilient, and forward-looking international fintech hub, focusing on four key areas and over 40 specific projects. He mentioned that the HKMA will promote financial tokenization and foster a thriving tokenization ecosystem, taking the lead in asset tokenization demonstrations, such as regularizing tokenized government bond issuance and exploring the feasibility of tokenizing Exchange Fund bills and bonds. The HKMA will soon launch the Ensemble project pilot plan to support real transactions and continue collaborating with industry stakeholders and other central banks to nurture innovative tokenization use cases.

PBOC Deputy Governor Lu Lei: Digital RMB will explore new models for cross-border payments

Lu Lei, Deputy Governor of the People’s Bank of China, stated that the PBOC attaches great importance to cross-border payment cooperation with Hong Kong, exploring multiple fintech innovations to actively promote cross-border payment connectivity and economic integration between the two regions. Speaking at the Hong Kong Fintech Week Startup Festival, Lu Lei said the RMB Cross-border Interbank Payment System (CIPS) has expanded its functions in Hong Kong, including Bond Connect Northbound and Southbound settlement, and launched HKD payment clearing. As of the end of September, Hong Kong had 11 direct and 120 indirect participants, providing safe and efficient cross-border clearing and settlement for international trade and investment. He also mentioned the successful launch of the cross-border fast payment system in June, offering residents fast bilateral local currency and RMB remittance services, with stable system operation and positive public feedback. Lu Lei highlighted the deepening of cross-border QR code payment connectivity, with the PBOC recently building a unified cross-border QR code gateway as the standard interface for such cooperation, further facilitating institutional collaboration. Looking ahead, he said digital RMB will be used to explore new cross-border payment solutions, including promoting multilateral central bank digital currency bridge cooperation, exploring new paradigms for cross-border payments, leveraging the digital RMB cross-border payment platform to provide a Chinese solution for central bank digital currency cross-border cooperation, and building a blockchain plus digital asset dual platform to activate a new engine for the value internet.

Standard Chartered CEO: All trades will eventually be settled via blockchain

Standard Chartered CEO: The bank and Hong Kong SAR leadership both believe all trades will eventually be settled via blockchain, and all currencies will be digitized.

HSBC CEO: The bank’s tokenized gold product has achieved “mass adoption”

HSBC CEO: The bank’s tokenized gold product has achieved “mass adoption” among retail clients in Hong Kong, and is now the world’s third largest such product.

Project Updates

GoPlus: All Decentralized Finance projects forked from Balancer are affected by the Balancer vulnerability

GoPlus Chinese community issued a reminder: All Decentralized Finance projects forked from Balancer are affected by the Balancer vulnerability, and several protocols have already been attacked; it is recommended to check the list of Balancer fork protocols on Defillama and immediately stop interacting with them and withdraw assets for self-protection. Previously, Balancer attack losses rose to $116.6 million.

Berachain: Preventive measures underway, HONEY minting and BEX pools suspended

Berachain Foundation posted on X: “In the past 45 min, we have become aware of the ongoing Balancer vulnerability attack and are taking preventive measures to avoid any potential damage to the Berachain ecosystem (especially BEX). During this period, HONEY minting and BEX pool/vault operations have been suspended. We will provide further updates soon.” Previously, Balancer attack losses rose to $116.6 million.

Balancer attack losses rise to $116.6 million

According to Lookonchain monitoring, Decentralized Finance protocol Balancer’s attack losses have increased to $116.6 million. Previous reports indicate the attack involved asset transfers across multiple chains, including WETH, Staked ETH, wstETH, and other tokens. The incident is ongoing, with further details pending disclosure.

Binance HODLer Airdrop launches Momentum (MMT), Spot Trading goes live on November 4

Binance HODLer Airdrop has launched its 56th project, Momentum (MMT), a Decentralized Finance hub based on the Sui blockchain, offering deep liquidity and trading tools. Users can earn MMT retroactive Airdrop rewards by subscribing to BNB principal-protected earning or on-chain earning products. Binance will open MMT Deposit at 18:00 (UTC+8) on November 3, and launch MMT Spot Trading at 20:00 on November 4, supporting USDT, USDC, BNB, and TRY trading pairs. The total genesis token supply for MMT is 1 billion, with an initial circulating supply of about 204 million, accounting for 20.41% of the total supply.

OKX to launch Hyperliquid (HYPE) Spot Trading

OKX announced it will soon launch Hyperliquid (HYPE) Spot Trading, with the opening times confirmed. HYPE Deposit will open at 3:30 pm on November 3, allowing users to deposit assets in advance. The pre-listing order function for HYPE will be available from 9:30 pm to 10:30 pm that evening. The HYPE/USDT Spot Trading pair will officially open at 10:30 pm. Withdrawal function is scheduled to open at 10:00 am on November 4.

Binance Alpha and Futures to launch Intuition (TRUST)

According to Binance’s announcement, the Binance Alpha platform will launch Intuition (TRUST) at 17:00 (UTC+8) on November 5, and the TRUSTUSDT perpetual Futures will go live at 17:30, with up to 50x leverage.

Binance to delist KDAUSDT, AXSUSD, and THETAUSD perpetual Futures this week

According to Binance’s announcement, Binance Futures will automatically settle and delist the USDⓈ-M KDAUSDT contract at 17:00 (UTC+8) on November 6, and delist the COIN-M AXSUSD and THETAUSD contracts at 17:00 on November 7. New open position operations will be suspended 30 min before each delisting. Binance reminds users that insurance fund liquidation will be suspended one hour before settlement, and relevant Positions may trigger Liquidation or ADL mechanisms; users are advised to close Positions in advance to avoid risk.

Key Data

Bitcoin Spot ETF saw a net outflow of $799 million last week, with BlackRock IBIT leading at $403 million

According to SoSoValue data, during last week’s trading days (Eastern US time October 27 to October 31), Bitcoin Spot ETF saw a weekly net outflow of $799 million, with none of the twelve ETFs recording net inflows. The largest weekly net outflow was BlackRock IBIT ETF, with $403 million, and IBIT’s historical total net inflow reached $64.9 billion; next was Fidelity FBTC ETF, with a weekly net outflow of $155 million and a historical total net inflow of $12.44 billion. As of press time, the total net asset value of Bitcoin Spot ETF is $147.73 billion, with the ETF net asset ratio (market capitalization as a percentage of Bitcoin’s total market capitalization) at 6.77%, and cumulative historical net inflow at $61.19 billion.

Since 2023, daily retail investor BTC inflows to Binance have plummeted from 552 to 92

According to CryptoQuant analyst Darkfost, retail investors holding less than 0.1 BTC have seen a sharp decline in activity this cycle. Data shows that since early 2023, the 90-day moving average of daily retail investor BTC inflows to Binance has dropped from 552 BTC to 92 BTC, a decrease of more than fivefold. This trend intensified after the launch of Spot ETF in January 2024. The analysis points to reasons such as some users shifting to the ETF marketplace, more investors choosing to hold Bitcoin long-term rather than sell, and some “shrimp” investors exiting the statistics due to continued accumulation. This indicates significant changes in market leadership and behavior patterns.

HumidiFi’s 30-day volume surpasses Meteora and Raydium, leading the Solana Decentralized Finance marketplace

Data shows that in the past 30 days, HumidiFi ranked first among decentralized exchanges (DEX) with $35.511 billion in volume, followed by Meteora with $33.621 billion. Raydium and Orca recorded $21.353 billion and $20.243 billion in volume, while Pump and Tessera V had 30-day volumes of $9.246 billion and $7.229 billion, respectively. Previously, Jupiter announced that the first IC0 project on the DTF platform will be HumidiFi.