Strategy lifts bitcoin holdings to 849,327 BTC with latest 811 BTC buy, and more

The following article is adapted from The Block's newsletter, The Daily, which comes out on weekday afternoons.

Happy Monday! Bitcoin remains below $77,000 amid outflows from spot bitcoin ETFs following the record Binance hack.

In today's newsletter, Strategy buys another 811 bitcoin for $65.5 million, Brazil's largest crypto exchange Mercado Bitcoin suffers a $46 million security breach, spot bitcoin ETFs see their largest daily outflows in four months, and more.

Meanwhile, Binance sees $3.64 billion in net outflows after reopening withdrawals, and Strive inches closer to becoming the second-largest public bitcoin holder after its latest $10 million buy.

P.S. Don't forget to check out The Latent, our sister website covering AI. Get The Latent Daily here and all other The Block newsletters here. Also, follow The Block and The Latent on X for more updates.

Strategy buys another 811 bitcoin for $65.5 million, taking holdings to 849,327 BTC

Michael Saylor's Strategy purchased another 811 bitcoin for around $65.5 million between Oct. 26 and Nov. 1, resuming acquisitions after a one-week pause.

• Strategy paid an average of $80,846 per bitcoin, bringing its total holdings to 849,327 BTC, acquired for about $64.1 billion at an average price of $75,451 per coin.
• The latest purchase was funded through sales of MSTR common stock. Strategy sold around $164 million worth of shares during the week.
• The company also repurchased about $208.2 million of STRC preferred shares and paid $43.4 million in preferred dividends from its cash reserves.
• Strategy remains the largest public corporate bitcoin holder, with more than 4% of bitcoin's total supply cap.

Brazil's largest crypto exchange Mercado Bitcoin hit by $46 million security breach

Mercado Bitcoin, Brazil's largest crypto exchange, confirmed a security breach involving around $46.3 million in assets on Monday, according to Arkham data.

• The exchange temporarily suspended deposits and withdrawals while investigating the incident and coordinating with authorities. It said customer assets were not affected and no data was compromised.
• Tether froze more than 4.5 million USDT linked to the breach, while Mercado Bitcoin published the destination wallet addresses to help security firms track the stolen assets.
• Arkham analyst Emmett Gallic said the attacker was moving funds from older deposit addresses and selling memecoins and other altcoins. The incident follows a series of crypto security breaches, including last week's record Binance hack.

Spot bitcoin ETFs see largest daily outflows in four months after Binance hack

U.S. spot bitcoin ETFs recorded $643.3 million in net outflows on Friday, their largest single-day outflow since June 25, following the record $6.3 billion Binance hack.

• Spot bitcoin ETFs saw $202.6 million in net outflows for the week, while spot ether ETFs recorded $155.9 million in Friday outflows and $431.5 million for the week.
• Analysts at ViaBTC and Laevitas said the bitcoin ETF withdrawals reflected a short-term sentiment shock rather than a loss of institutional confidence, noting that Friday's outflows represented less than 1% of the funds' $98.14 billion in total assets.
• Analysts expect cautious ETF demand in the near term as investors monitor developments around the hack and the upcoming U.S. midterm elections.

North Korean hackers launder $242 million of Binance loot via Tron

North Korean hackers laundered about $242 million stolen from Binance through the Tron blockchain over two days, according to onchain analyst SomaXBT, as the FBI urged crypto services to block transactions linked to the record hack.

• The attackers stole about $628 million on Tron, but Tether froze 378.7 million USDT. Of the $242 million moved, around $194 million left Tron through bridges and swap services, including Relay, THORChain, Chainflip and Symbiosis.
• The FBI attributed the $6.3 billion Binance hack to North Korea's TraderTraitor group and urged THORChain operators and other crypto services to block related transactions. THORChain's official frontend blocked the listed addresses, while trading remained halted on 10 of its 13 connected chains as of Sunday afternoon.

Bitmine adds 8,573 ETH as Tom Lee highlights muted Binance hack reaction

Bitmine Immersion Technologies purchased another 8,573 ETH over the past week, bringing its total holdings to 6.06 million ETH worth around $13.7 billion.

• Bitmine now holds about 4.9% of ether's total supply, with 5.23 million ETH, or 86% of its holdings, staked. The company estimates $358 million in annualized staking revenue.
• Chairman Tom Lee said ether's roughly 4% decline following the $6.3 billion Binance hack was relatively muted compared with its 8% drop after the 2025 Bybit hack. He cited Binance's ability to cover losses and swift industry intervention as factors limiting the market reaction.

In the next 24 hours

• The U.S. will release September's JOLTS job openings and factory orders data on Tuesday.
• No major eurozone events are scheduled for Tuesday.
• Kite (KITE) and Impossible Cloud Network Token (ICNT) are among the tokens scheduled to unlock on Tuesday.

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