Tether's excess reserves increase to $7.9 billion, Celestia's new architecture goes live, weekly report on mainstream project developments | October 26 - November 1

Bitsfull2026/11/02 14:0012379

Summary:

What happened that could affect the fundamentals.

This article summarizes in the fewest words the important developments of the top projects by market capitalization in the crypto market over the past week, focusing on new products, abnormal data of existing businesses, core management changes, financing, and unconventional burns, with projects sorted by market capitalization.


Binance


[Security] Binance suffered approximately $6.3 billion stolen, the largest crypto theft in history, and withdrawals were immediately suspended.


[Security] On November 1, Binance began phased resumption of withdrawals.


Tether


[Business Data] Tether Q3 net operating profit was $1.5 billion, with excess reserves increasing from $4.1 billion at the end of Q2 to $7.95 billion.


XRP


[Partnership] Ripple expanded its partnership with Robinhood, covering RLUSD, Ripple Prime (prime brokerage), and Ripple Treasury (corporate treasury management).


[Partnership] RLUSD launched on Coinbase Prime, Coinbase Exchange, and the Coinbase retail app.


Hyperliquid


[Partnership] ICE (parent company of the NYSE) partnered with Trade.xyz to launch perpetual contracts in US regulated markets based on Hyperliquid's underlying technology, and took an equity stake in Trade.xyz.


Stellar


[Tokenomics] Stellar initiated a tokenomics discussion, proposing to establish a reward mechanism using the network's existing fee pool.


Pump.fun


[New Product] The Pump.fun app integrated Hyperliquid perpetual contracts, enabling trading of cryptocurrencies, US stocks, and commodities.


Injective


[New Product] Launched on-chain options infrastructure Injective Options, one day after launching the hashprice index SICI.


Celestia


[New Product] Released Voyager, a new chain architecture for AI agent payments, tested at 21 million TPS.


Curve


[New Product] Curve StableSwap launches on Stellar mainnet, marking Curve's first non-EVM deployment.


Sei


[Technical Roadmap] SIP-6 voting begins, proposing to upgrade Sei consensus to Autobahn, making it the first multi-proposer EVM chain.


Backpack


[Partnership] Backpack partners with South Korea's SK Securities, planning to offer Korean stock trading to non-Korean residents through the Backpack app.


ENS


[New Product] ENSv2 launches on Ethereum mainnet, with annual fees for .eth domains of five or more characters rising from $5 to $8 (the first price adjustment since 2019), plus new multi-year registration discounts.


Kamino


[New Product] Launches Backpack Market, allowing users to borrow USDC using Backpack-issued 1:1 tokenized US stocks as collateral.


Akash


[Technical Roadmap] The Akash core team proposes migrating the marketplace from its own Cosmos chain to Solana, with AKT migrating 1:1; Proposal #346 has entered voting.


Fluid


[New Product] Fluid DEX v2 launches in limited beta, supporting custom collateral and debt ranges, hooks, and on-chain limit orders.


Railgun


[New Product] Railgun (privacy transaction protocol) fully launches on Base.



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