X trader TwoEyes bets the US will end lockdowns in November, and holds long positions worth tens of millions of dollars in Bitcoin and gold.

CertiK’s research team says crypto trading platforms should not rely solely on cold wallet asset ratios to measure security, but also set clear dollar-based position caps for hot wallets. The recommendation comes amid a wave of crypto platforms disclosing cold wallet reserve ratios to boost user confidence, following Binance’s hot wallet hack. Gate.io disclosed that 88.26% of its total assets are held in cold wallets, while Coinbase said over 99% of customer assets are offline. CertiK’s team notes that cold storage ratios reflect the online exposure of assets but cannot serve as a standalone security metric. Increasing the cold wallet ratio generally helps reduce online risks, but when the ratio is already high, the marginal benefits of further increases may be limited. Overly rigid storage ratios can also slow down withdrawals, force platforms to rush asset transfers, and concentrate risks on key management systems. CertiK recommends that trading platforms set hot wallet caps separately for different assets and blockchains, taking into account three criteria: a percentage of customer liabilities, estimated withdrawal demand, and an absolute loss cap based on the platform’s financial resources and asset recovery capacity. The firm argues that while ensuring operational liquidity, potential losses should be limited via strict dollar caps and circuit breaker mechanisms.

According to monitoring by Onchain Lens, a trader holds three short positions, with a total unrealized profit of approximately $1.34 million. The breakdown of unrealized gains for each position is as follows: the BTC short position (145x leverage) generates $145,200, the ETH short position (40x leverage) brings $133,000, and another ETH short position (250x leverage) yields $1.07 million. The address’s 24-hour trading profit and loss stands at a net profit of $851,800.

According to monitoring by Onchain Lens, a wallet withdrew roughly 220 ETH (valued at approximately $466,600) from Tornado Cash, swapped the ETH for USDT via CowSwap, bridged the funds to Tron, and then distributed the USDT to multiple addresses using TronLink’s GasFree wallet, with the latest transfer amounting to 450,000 USDT.

Official news: South Korean cryptocurrency exchange Bithumb will launch new KRW trading markets for Hyperliquid (HYPE) and Collector Crypt (CARDS). HYPE, which operates on the HyperEVM network, will have deposits and withdrawals open within two hours of this announcement, with trading set to commence at 15:00 Beijing Time on November 10. Its reference price is 100,700 KRW, and transactions require 10 network confirmations. CARDS, built on the Solana network, will offer deposits and withdrawals within three hours of the announcement, with trading expected to go live at 17:00 Beijing Time. The token’s reference price is 300 KRW, and 20 network confirmations are needed.

MEXC CEO Vugar Usi posted that the crypto exchange has, with the assistance of a top US law firm, established communication with the US Financial Crimes Enforcement Network (FinCEN). FinCEN confirmed receipt of MEXC’s written request on Monday US time, and the platform stated it is willing to fully cooperate with relevant work. Usi emphasized that MEXC’s platform is currently operating normally, with deposit, withdrawal and trading functions all unimpeded. The team has drafted a follow-up work plan and will promptly disclose relevant information to the community once progress is made. Earlier, Blockbeats reported that FinCEN ordered the severing of MEXC’s ties to the US financial system, banning US financial institutions from processing fund transfers involving the exchange. FinCEN alleged that MEXC processed at least $16 billion in funds related to sanctions evasion, cybercrime and other illegal activities between May 2021 and May 2026, involving entities from Iran, North Korea and Russia.

According to the protocol roadmap released by the XRP Ledger Foundation, the foundation has included a post-quantum-resistant signature scheme in its proposed 2027 amendment, planning to introduce the ML-DSA-44 signature algorithm to enable accounts to migrate to post-quantum-resistant keys. The scheme remains in the proposal stage: migration research is scheduled for the first half of 2027, while development, review, and audit are set for the end of 2027 or 2028. The new keys and signatures are significantly larger than existing ones, and final activation of the amendment will still require a vote from validators.