Business briefing — November 2, 2026.

Binance reports $3.64 billion in net outflows after reopening withdrawals

Binance reported $4.649 billion in withdrawals and $1.01 billion in deposits during a nine-and-a-half-hour period on November 1, after resuming withdrawals following its October 29 security breach. The exchange said it had replenished about 95% of affected assets and that customers would not bear the losses; replacing assets does not necessarily mean recovering the stolen cryptocurrency. The reported outflows indicate substantial withdrawal demand but do not by themselves establish a liquidity shortfall.

What changed Binance said replacement of affected assets had reached 95%, versus 90% in its preceding update; this measures replenishment, not recovery of stolen funds.

Why it matters Restored access remained uneven for customers: additional withdrawal routes were still being tested, and transactions could face delays.

What to watch next An updated proof-of-reserves report is expected on November 2. Its snapshot is dated October 31, before the reported reopening outflows, so it will not alone resolve the post-withdrawal reserve question.

Indian regulators reportedly scrutinise offshore crypto-funded payment cards

India’s RBI and FIU-IND are reportedly examining offshore crypto cards that let residents spend digital assets at domestic merchants or withdraw rupees, including cards offered by RedotPay. People familiar with the matter told The Economic Times that regulators are assessing potential issues involving payment rules, foreign-exchange restrictions and anti-money-laundering requirements. No formal enforcement order naming RedotPay has been announced, and the reported scrutiny is not a confirmed finding of a legal violation.

Why it matters For Indian cardholders, the issue is already operational rather than solely legal: reported card failures and website restrictions can disrupt spending and account access.

What to watch next Whether offshore cards remain usable—and how customers could access existing balances if restrictions persist—remains unresolved.

Animoca Brands receives Abu Dhabi approval to manage investment funds

Abu Dhabi Global Market’s Financial Services Regulatory Authority granted Animoca Asset Management (AD) Limited permission to manage a collective investment fund in or from the financial zone. The approval follows in-principle consent in November 2025 and gives Animoca a regulated fund-management foothold alongside its existing Dubai virtual-asset licence. The company did not disclose a fund name or size.

What changed The unit has moved from conditional in-principle approval in November 2025 to final permission to run funds.

Why it matters For Animoca's Abu Dhabi unit, the permission removes the regulatory barrier that previously prevented it from operating funds; it is more than an announcement of expansion intent.

What to watch next The commercial scale remains an open question: Animoca disclosed neither a fund name nor its size.

Kalshi says October trading reached about $65 billion ahead of US midterms

Kalshi’s October trading volume was estimated at about $65 billion, roughly 10% above its September record, while the company said nearly $1.1 billion had traded on election-related contracts over a broader period. The $65 billion figure covers all Kalshi markets, not just elections, and is not equivalent to deposits, net investment inflows or exchange revenue. The figures are preliminary, and the article notes that contract prices reflect trading activity rather than a representative voter poll or guaranteed forecast.

What changed The preliminary October estimate was approximately 10% above September's previous monthly record.

Why it matters For readers assessing prediction-exchange growth, the headline turnover is not a measure of new customer money or revenue: repeated trading can enlarge volume without equivalent new funding.

What to watch next The November 3 elections provide a concrete operational test of elevated trading and settlement under published rules; sustained activity afterward remains an open question.

ICE and Trade[XYZ] propose a regulated US venue for perpetual contracts

Intercontinental Exchange and Trade[XYZ] have agreed to pursue a US regulated market for Trade[XYZ]’s Hyperliquid-based perpetual contracts, with ICE as exclusive operator and a dedicated market and clearing structure planned. ICE is also making a strategic minority investment in Trade[XYZ]. The firms say they will seek regulatory approvals, including for leveraged trading; no launch date or approval outcome has been announced.

Why it matters For retail users, the proposal would add verified accounts and futures intermediaries to access, rather than simply reproduce direct crypto-native trading. Custody and collateral terms are still undisclosed.

What to watch next The firms plan to seek approvals, including for leverage. Whether those permissions are granted remains open, with no launch date announced.

Capital.com secures Singapore licence and appoints former IG executive as local CEO

Capital.com has received a licence from Singapore’s Monetary Authority, allowing its local unit to offer securities, collective investment schemes and over-the-counter derivatives, including CFDs, according to regulatory records. The company appointed Tony Lim, who previously led IG Group’s Singapore division for nine years, as local chief executive. Capital.com did not respond to Finance Magnates’ questions about its Singapore strategy before publication.

Why it matters The Singapore unit has permission for a broader offering than CFDs alone, giving Capital.com scope to compete in securities and collective investment schemes without establishing that those products have launched.

What to watch next Capital.com's intended Singapore product mix and rollout remain unconfirmed; neither the company nor its local CEO answered questions about the strategy before publication.