Nov 8, 2026 · 7 min listen · Last updated November 8, 2026
From storyflo. This is your daily audio brief. Dex here — November 8th. Five that moved the crypto tape overnight. Here's the first. Let's get into it. First, from Cryptobriefing. Former Holograph Foundation employee sentenced to five years over $14M HLG token mint.
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Daily Crypto Brief · November 8th
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Former Holograph Foundation employee sentenced to five years over $14M HLG token mint
The case highlights the vulnerability of crypto projects to insider threats and the challenges of recovering losses through legal claims. The post Former Holograph Foundation employee sentenced to five years over $14M HLG token mint appeared first on Crypto Briefing.
Elliptic Traces $124M in Bitcoin Swaps From Binance Hack Funds
Elliptic's latest update reveals that around $124 million in assets stolen from the October Binance hack has been converted into Bitcoin. The funds, originally held in XRP and SOL, have been traced through a web of tens of thousands of wallets and various networks. While the figure sounds significant, the real story lies in the ongoing movement of these assets and the complexities involved in tracking them.
Currently, about 1,650 BTC has been identified in new addresses after conversion. Notably, $50 million worth of XRP has been shifting towards Bitcoin, with stolen Solana tokens also being mixed in the process. However, most of the stolen assets, totaling around $3.11 billion, remain untouched in linked addresses, with only a small portion appearing to have been cashed out.
The intricacies of cross-chain transfers make tracing difficult, as funds can hop between networks and through intermediaries. Although blockchain transparency aids investigators, it doesn't always reveal the identities behind the wallets. This is crucial for compliance, as businesses need to be aware of potential risks tied to these addresses, even if the funds have moved.
As this situation unfolds, the focus will shift to confirmed freezes and movements tied to identifiable services. For now, the stolen funds are still navigating complex paths, and the complete picture of who ultimately controls them remains unclear.
For listeners who want low-fee crypto exposure, our markets partner Kraken supports Bitcoin — link in show notes.
Circle Q3 Revenue Rises 17% to $865M on ARC Token Sale as Reserve Income Falls
Circle reported a 17% increase in Q3 revenue, hitting $865 million, largely thanks to the presale of its ARC token, which brought in $182 million. That presale boosted their other revenue to $207 million, a significant jump from last year’s $29 million. However, reserve income, which is the interest earned on USDC backing, fell 8% to $658 million due to a drop in the reserve return rate to 3.5%.
Despite this, average USDC in circulation grew by 8% to $73.3 billion, which helped cushion the impact of the lower rates. They also reported a 5% rise in net income from continuing operations, reaching $226 million, and an impressive 85% jump in adjusted EBITDA to $317 million, reflecting the presale revenue.
Circle is also making some structural changes, cutting about 5% of its workforce, which cost them $9.1 million in restructuring charges. This move is aimed at aligning their operations with strategic priorities. They’re maintaining their revenue forecast for 2026 between $310 million and $330 million, which includes the presale revenue.
For listeners who want low-fee crypto exposure, our markets partner Kraken supports USDC — link in show notes.
Ripple Loses Dominance in Stablecoin Market Cap Growth
Ethena just surged ahead in the stablecoin market, adding $337.4 million to its market cap in the last 24 hours, which is a significant leap. This puts Ripple in the rearview, as it could only manage a $39.6 million increase, dropping it to second place. Just yesterday, Ripple was the leader with a solid $34.7 million growth, but Ethena's performance outpaced it by over eight times.
Other stablecoin players are also seeing some movement, though not nearly as dramatic. USDD added $13.9 million, Paxos increased by $10.8 million, and a few others like Ondo and OpenStandard made smaller gains. It’s interesting to note how quickly the tides can turn in this space.
For listeners who want low-fee crypto exposure, our markets partner Kraken supports ETH — link in show notes.
Pi Network is Going Big on AI as Token Price Remains Near Record Lows
Pi Network has published the day-by-day agenda for its first Pi Ecosystem Summit, running online from November 17 to 19. The three days end with a new developer hackathon carrying a 200,000 USDT prize pool. The news pushed Pi Network (PI), the token of a mobile-mining crypto project, into CoinGecko’s top three trending coins. Yet PI still trades more than 97% below its February 2025 peak, leaving holders waiting for real token demand.
Viral ChatGPT Memory Prompt Shows a Big Risk for Crypto Holders
A viral prompt asks ChatGPT to fill an empty room with everything it knows about a user, and the results reveal how much ChatGPT has collected in its memory. Many users knew the chatbot stores data, but seeing it all in one picture has left some of them unsettled. The trend looks like harmless fun. Yet it doubles as a security test, because every object in the room reflects data users once typed into the chatbot. Posted publicly on X, those images can hand the same profile to strangers.
Coinbase Pitches a Full Token Lifecycle Service, From Public Sales to Custody
TL;DR: Coinbase’s November 5 product update describes an integrated set of services for token issuers, from sales and distribution through listings, custody and liquidity. It cites Monad, Ethena and Hyperliquid as examples, but the examples are company-selected and do not eliminate the risks or regulatory limits facing token projects. For a blockchain project, issuing a token may be the relatively easy part. Finding real users, managing custody, listing on exchanges and supporting institutional trading each introduce complicated operational decisions.
Amundi Puts a European Equity Fund Share Class on Ethereum
TL;DR: Amundi has launched a tokenised share class of its Core STOXX Europe 600 equity index fund on public Ethereum, working with CACEIS. It is a real fund share-class initiative, not a claim that all 600 constituent stocks are individually trading as permissionless tokens around the clock. One of Europe’s biggest asset managers has moved a conventional index product into the world of tokenised fund units. In a November 2026 announcement, Amundi said a new share class of its Core STOXX Europe 600 strategy had been issued on public Ethereum, using infrastructure developed with CACEIS.
EU launches task force to stop crypto sanctions evasion by Russia
The EU's task force may shift focus from military to financial enforcement, potentially affecting Russia-Ukraine conflict dynamics and ceasefire prospects. The post EU launches task force to stop crypto sanctions evasion by Russia appeared first on Crypto Briefing.
Tornado Cash-Funded Wallet Builds $26 Million Bitcoin-Ether Trade
The wallet converted 3,100 ETH into roughly 6.92 million USDC before pairing a Bitcoin long with an Ether short on Hyperliquid. HacksThe wallet converted 3,100 ETH into roughly 6.92 million USDC before pairing a Bitcoin long with an Ether short on Hyperliquid.