Crypto News Today: 31 Oct 2026 – Binance Recovery Plan, Trezor Warning and Strategy Results

Bitcoin starts the weekend steady but bruised. After Thursday's record-breaking hack at Binance and a heavy sell-off in US tech shares on Friday, the largest cryptocurrency was trading at about $77,270 (around £57,680) at 08:00 UTC on Saturday, according to CoinGecko. That is down roughly 1% over 24 hours. Here is what moved the market, and what else happened in crypto over the last day.

Market snapshot

Prices from CoinGecko at about 08:00 UTC on 31 October 2026:

Asset	Price (USD)	Price (GBP)	24h change
Bitcoin (BTC)	$77,274	£57,678	−1.0%
Ether (ETH)	$2,241	£1,673	+0.4%
Solana (SOL)	$95.50	£71.28	−1.7%
BNB	$699	£522	−1.0%

The bigger move came on Friday. CoinDesk reports that Bitcoin fell to an overnight low of about $76,400, its weakest level since mid-September, while Ether briefly touched $2,170. Crypto futures liquidations jumped roughly fourfold to $1.57 billion, most of them traders betting on higher prices. BNB was the weakest of the major coins, falling 6.2% over 24 hours in CoinDesk's data.

Crypto was not alone. The Nasdaq was down 3.4% and the S&P 500 2.2% late on Friday, with Intel falling sharply on weak guidance, and gold and silver also dropped. CoinDesk noted that, barring a late rally, Bitcoin is heading for its second October decline in a row, down about 8% for the month at the time of its report.

Binance sets out its recovery plan

Binance published a second update on the roughly $6.3 billion theft from its hot wallets. Signed by co-CEOs Yi He and Richard Teng, it says the exchange has reserved more than $6.34 billion to cover the losses through its SAFU fund and company money, and that customers will not bear the cost. According to crypto.news, about $5 billion of that is already held in the same tokens that were stolen, and Binance is buying the rest on the market and over the counter.

The key points for users:

• Withdrawals remain paused. Binance said it aimed to start restoring them in phases within about 34 hours of the update, provided security checks are complete. It has not promised that every service will return at once.
• Deposits and other unaffected services are working normally, Binance says.
• Proof of Reserves: a new snapshot was planned within 12 hours of the update, with results due on Monday 2 November.
• Frozen funds: about $3 billion has been frozen on-chain. CNBC points out that a freeze stops money moving but recovery needs a separate legal process, which can take months.

Binance still says it has found no evidence of a private key leak. We covered the details of the attack in our Binance hack explainer. As before, expect scammers to pose as Binance "refund" or support teams, so only trust Binance's official channels.

Trezor warns CryptoBilis buyers about a possible implant

Hardware wallet maker Trezor has told anyone who bought one of its devices from CryptoBilis from March 2026 onwards to move their funds to a newly created wallet with a new recovery phrase. CryptoBilis was an official Trezor reseller in Southeast Asia until October.

The warning follows a report from a customer in Indonesia, who bought a Trezor Safe 5 through the marketplace Tokopedia in August. The customer describes an extra circuit board between the main board and the screen, with a cellular module and antenna, that could read the recovery phrase off the screen and send it out over a mobile network. Trezor says it has not yet examined the device but is treating the report as credible. No CryptoBilis buyer has reported losing funds to Trezor.

This comes weeks after Ledger confirmed tampered devices from the same reseller. Trezor's advice is clear: restoring the old recovery phrase on a new device does not fix the problem, because the phrase may already have been exposed. Affected buyers can get a replacement device or voucher from Trezor Support. The wider lesson is to buy hardware wallets directly from the manufacturer or its listed resellers. Our security checklist covers other basics.

Strategy reports a $21 billion quarter

Strategy (formerly MicroStrategy), the largest corporate holder of Bitcoin, reported third-quarter operating income of $20.91 billion, almost entirely from gains on its Bitcoin. It held 848,517 BTC as of 25 October, bought at an average of about $75,446 each. That cost is not far below Friday's market price.

The company also bought back about $2 billion of its STRC preferred shares to bring them back near their $100 face value, and said it holds about $5.07 billion in US dollar reserves to cover dividends and interest. STRC moves to daily dividends from 1 November. Its own "BTC Yield" measure, which tracks Bitcoin per share, was −3.7% for the year so far.

OnePay lets customers deposit USDC into checking

Walmart-backed fintech OnePay has started letting selected US customers send USDC to their OnePay Checking account, where it arrives as US dollars. Stripe's stablecoin platform Bridge handles the deposit addresses, compliance checks and conversion. OnePay supports USDC on 12 blockchains, including Solana, Base, Ethereum and Tempo, with no conversion fee at launch. OnePay reminds users that stablecoins are not insured and that transfers may be irreversible. It is a small but practical step in bringing stablecoins into everyday banking apps.

18 years of the Bitcoin white paper

Today also marks 18 years since Satoshi Nakamoto shared the Bitcoin white paper, "Bitcoin: A Peer-to-Peer Electronic Cash System", on 31 October 2008. This week has been a reminder of one of its core ideas: holding your own keys, and checking where your hardware comes from, matters.

What to watch

• Whether Binance's phased withdrawal restart goes smoothly, and the Proof of Reserves results due on 2 November.
• Trezor's lab findings once it receives the reported device.
• Whether US stocks steady after Friday's tech sell-off, since crypto has been trading closely with them this week.

If you're moving funds between chains or tokens, you can compare swap quotes on Oddrix and check any unfamiliar token with our rug check first. This roundup is for information only and is not financial advice.

Sources

1. CoinGecko – Live prices for Bitcoin, Ether, Solana and BNB (retrieved 31 Oct 2026, 08:01 UTC)
2. CoinDesk – BTC falls to $76,400 as Binance hack triggers $1.57 billion in liquidations
3. CoinDesk – Live updates: Bitcoin falls below $77,000 as Binance exploit combines with tech woes
4. Binance – Security Incident Update (2026-10-30)
5. crypto.news – Binance reserves $6.34B, targets phased withdrawal restart
6. CNBC – Binance hack: $6.3 billion stolen, $3 billion frozen
7. Trezor – Implant reported in a Trezor sold by CryptoBilis
8. The Block – Trezor reports suspected hardware implant in Safe 5 sold by CryptoBilis
9. Strategy – Third Quarter 2026 Financial Results
10. OnePay – Introducing Stablecoin Deposits Powered by Stripe
11. Bitcoin.org – Bitcoin: A Peer-to-Peer Electronic Cash System

FAQ

Has Binance restarted withdrawals?

In its second update on 30 October, Binance said it aimed to begin restoring withdrawals in phases within about 34 hours, once security checks are complete. Deposits are unaffected. Check Binance's official channels for the latest status.

What should I do if I bought a Trezor from CryptoBilis?

Trezor says anyone who bought a Trezor from CryptoBilis from March 2026 onwards should move funds to a newly created wallet with a new recovery phrase, not reuse the old phrase, and contact Trezor Support for a free replacement.

Why did Bitcoin fall this week?

Coverage from CoinDesk and others links the drop to the $6.3 billion Binance hack, a wave of leveraged long liquidations and a sharp sell-off in US tech stocks on 30 October.

Not financial advice. This article is for general information only and is not financial, investment or tax advice. Crypto-assets are high risk and largely unregulated in the UK; you could lose all the money you put in. Do your own research.