Crypto Week Ahead: Binance Hack Risks, Midterm Uncertainty and U.S. Employment Data -

Crypto Week Ahead: Binance Hack Aftermath, U.S. Midterms and Jobs Data Under the Spotlight

Cryptocurrency investors are preparing for a packed week beginning November 2, with attention shifting between the fallout from Binance’s massive security breach, the U.S. midterm elections and upcoming employment figures. Several central bank decisions and industry developments will also shape the market calendar.

Binance resumed customer withdrawals on Sunday after suspending the service for three days following a $6.3 billion hack. The exchange said users withdrew a net $3.64 billion on the first day of restored operations. It also reported that approximately 95% of the stolen assets had been replaced using its internal reserves.

Bitcoin remained relatively stable during the aftermath, trading close to $78,000 on Monday. Alex Ryzhkin, chief commercial officer at B2BINPAY, told CoinDesk that exchange hacks usually put pressure on cryptocurrency prices, although stronger institutional participation has helped cushion the market against sudden shocks.

“Exchange hacks always weigh on the market, but today sell-offs tend to be moderate, as deep institutional presence absorbs the shock,” Ryzhkin said.

Ryzhkin expects Bitcoin to maintain a trading range of $76,000 to $80,000 next week if Binance continues processing withdrawals without complications. Under those conditions, BTC could move toward $82,000 by the weekend.

Outside the crypto market, the U.S. midterm elections on November 3 and the October nonfarm payrolls report on November 6 will be major events for investors. The Reserve Bank of Australia and the Bank of England are also scheduled to announce monetary policy decisions, with both expected to deliver interest-rate increases.

Key developments scheduled for the week

<text color=”secondary” size=”xs”>All times Eastern Time (ET)</text>

Crypto-related events

November 3 – U.S. midterm elections: The outcome will determine the composition of Congress and could affect the prospects for cryptocurrency legislation and future regulatory supervision of the sector.
November 4 – FinCEN public consultation: The deadline for comments arrives on a proposal that would prohibit covered U.S. financial institutions from processing transactions involving sub-agents of the Russia-linked A7 Network.
November 4 – Kenya’s crypto transition deadline: The one-year grace period for digital asset companies that were already operating when the Virtual Asset Service Providers Act took effect will expire.
November 5 – Zcash NU7 upgrade: Zcash is expected to activate its next network upgrade at block 3,543,405.

Macroeconomic calendar

November 2, 10:00 a.m.: U.S. October ISM Manufacturing PMI. Expected: 54.6; previous: 54.5.
November 2, 11:30 p.m.: Reserve Bank of Australia interest-rate decision. Forecast: 4.85%; previous: 4.6%.
November 3, 10:00 a.m.: U.S. September JOLTS job openings. Expected: 7.13 million; previous: 7.079 million.
November 4, 5:00 a.m.: Eurozone October CPI preliminary year-over-year reading. Previous: 3.8%.
November 4, 8:30 a.m.: U.S. September trade balance. Expected: -$108 billion; previous: -$105.6 billion.
November 4, 10:00 a.m.: U.S. October ISM Services PMI. Forecast: 54.8; previous: 54.9.
November 5, 5:00 a.m.: Eurozone September PPI. Previous monthly reading: 1.9%; annual reading: 8.2%.
November 5, 7:00 a.m.: Bank of England interest-rate decision. Expected: 4%; previous: 3.75%.
November 5, 8:30 a.m.: Preliminary U.S. third-quarter nonfarm productivity and unit labor costs. Previous readings: 1.4% and 1.2%, respectively.
November 5, 8:30 a.m.: U.S. initial jobless claims for the week ending October 31. Expected: 195,000; previous: 194,000.
November 6, 8:30 a.m.: U.S. October nonfarm payrolls and unemployment rate. Previous payroll growth: 29,000; previous unemployment rate: 4.2%.
November 6, 10:00 a.m.: University of Michigan preliminary consumer sentiment index for November. Previous: 48.0.

Corporate earnings calendar

Several companies operating in the digital asset and cryptocurrency mining sectors are due to release their quarterly financial results.

November 2: Cipher Digital (CIFR), before market open. Estimated EPS: -$0.19.
November 3: Block (XYZ), after market close. Estimated EPS: $0.96.
November 4: Riot Platforms (RIOT), before market open. Estimated EPS: -$0.29.
November 4: Circle Internet Group (CRCL), before market open. Estimated EPS: $0.38.
November 4: Hut 8 (HUT), before market open. Estimated EPS: -$1.20.
November 5: Core Scientific (CORZ), before market open. Estimated EPS: -$0.01.
November 6: TeraWulf (WULF), before market open. Estimated EPS: -$0.32.

DAO votes and governance proposals

Community members across several decentralized organizations will vote on proposals involving product closures, treasury movements, protocol security and governance structures.

Cratos DAO: A proposal seeks to push the deadline for its existing token reward standard to November 30, 2026. Voting ends November 2.
Stake DAO: The community is considering the closure of 16 legacy products, a halt to new deposits and a six-month deadline for claiming older Pendle airdrop rewards. Withdrawals would remain available indefinitely. Voting closes November 2.
ENS DAO: Members will decide whether to approve the Governor Nexus update and move forward with an external audit. The vote ends November 3.
Compound: A proposal would transfer 42,000 USDC and 90 WETH held in reserves from discontinued Unichain markets back to Ethereum mainnet. Voting runs from October 31 through November 3.
Optimism: The network is considering replacing its Security Council cohort elections with a nomination system. Under the proposal, the Security Council Lead would nominate members, who would take their seats automatically unless holders representing 20% of OP’s supply veto the appointments. Voting ends November 4.
Arbitrum DAO: Members will consider restarting Stylus smart contract activations under a requirement that new deployments complete a limited security audit. Voting concludes November 5.

Upcoming token unlocks

November 5 – Ethena (ENA): Tokens representing 0.88% of the circulating supply will be released, with an estimated value of $17.86 million.
November 6 – Hyperliquid (HYPE): Approximately 0.08% of the circulating supply will unlock, representing around $16.77 million.

No token launches are currently planned for the week.