Binance Hack Fallout, U.S. Midterms and Jobs Data Set the Stage for Crypto’s Week Ahead

Crypto Week Ahead: Key Events for the Week Beginning November 2

Here is a rundown of the major developments, economic releases and industry events scheduled for the week starting November 2.

Binance restored withdrawal services on Sunday, three days after suffering a $6.3 billion security breach. Customers withdrew a net $3.64 billion on the first day, according to the exchange, which also said it had replenished approximately 95% of the stolen assets using its own reserves.

Bitcoin has remained relatively resilient, trading around $78,000 on Monday despite the fallout. Alex Ryzhkin, chief commercial officer at B2BINPAY, told CoinDesk that exchange security breaches typically create downward pressure on cryptocurrency prices, although the impact has become more limited as institutional participation has deepened.

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

He added that Bitcoin could consolidate between $76,000 and $80,000 next week if withdrawals continue without disruption, potentially recovering toward $82,000 by the weekend.

The week’s main macroeconomic events include Tuesday’s U.S. midterm elections and Friday’s employment report. Interest-rate decisions from the Reserve Bank of Australia and the Bank of England are also expected to attract attention, with both central banks forecast to increase borrowing costs.

What to Watch

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Crypto

• November 3: U.S. midterm elections. The outcome could influence congressional control and the future direction of pending cryptocurrency legislation and industry oversight.
• November 4: Deadline for comments on a FinCEN proposal that would prohibit certain U.S. financial institutions from processing transactions involving sub-agents of the Russia-linked A7 Network.
• November 4: Kenya’s one-year transition period expires for cryptocurrency companies that were operating before its Virtual Asset Service Providers Act came into force.
• November 5: Zcash is expected to activate its NU7 network upgrade at block 3,543,405.

Macroeconomic events

• November 2, 10:00 a.m.: U.S. October ISM Manufacturing PMI. Forecast: 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. Forecast: 7.13 million; previous: 7.079 million.
• November 4, 5:00 a.m.: Eurozone October CPI year-over-year, preliminary estimate. Previous: 3.8%.
• November 4, 8:30 a.m.: U.S. September Trade Balance. Forecast: -$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 Producer Price Index. Monthly previous: 1.9%; annual previous: 8.2%.
• November 5, 7:00 a.m.: Bank of England interest-rate decision. Forecast: 4%; previous: 3.75%.
• November 5, 8:30 a.m.: U.S. third-quarter preliminary nonfarm productivity and unit labor costs. Previous readings: productivity, 1.4%; unit labor costs, 1.2%.
• November 5, 8:30 a.m.: U.S. initial jobless claims for the week ending October 31. Forecast: 195,000; previous: 194,000.
• November 6, 8:30 a.m.: U.S. October nonfarm payrolls. Previous: 29,000. The unemployment rate was previously 4.2%.
• November 6, 10:00 a.m.: University of Michigan preliminary consumer sentiment for November. Previous: 48.0.

Corporate earnings

Several publicly traded cryptocurrency and blockchain companies are scheduled to report earnings this week.

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

Token events

Governance proposals and votes

• Cratos DAO: Members are voting on a proposal to extend the deadline for its existing token reward standard until November 30, 2026. Voting closes November 2.
• Stake DAO: A proposal seeks to discontinue 16 legacy products, prevent additional deposits and introduce a six-month deadline for claiming outstanding Pendle airdrop rewards. Withdrawals would remain available indefinitely. Voting ends November 2.
• ENS DAO: Members are considering approval of the Governor Nexus upgrade and authorization of its external security audit. Voting concludes November 3.
• Compound: A governance vote will determine whether to remove 42,000 USDC and 90 WETH in reserves from its discontinued Unichain markets and transfer the assets back to Ethereum mainnet. The vote runs from October 31 through November 3.
• Optimism: A proposal would replace Security Council cohort elections with a nomination-based process. Under the suggested framework, 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 are voting on a proposal to restart Stylus smart contract activations, requiring new deployments to undergo a limited security audit. Voting closes November 5.

Upcoming token unlocks

• November 5: Ethena (ENA) will release tokens equivalent to 0.88% of its circulating supply, valued at approximately $17.86 million.
• November 6: Hyperliquid (HYPE) will unlock 0.08% of its circulating supply, worth approximately $16.77 million.

Token launches

No token launches are currently scheduled for the week.

Conferences and industry events

• November 2–6: Hong Kong FinTech Week x StartmeupHK — Hong Kong.
• November 3–6: Devcon 8 — Mumbai.
• November 5–6: Bitcoin Amsterdam — Amsterdam.
• November 5–7: ETHGlobal Mumbai — Mumbai.

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