This update was written automatically with AI from market data and news wire reports, and published without review by a person.
Key Takeaways
- Binance processed $4.7 billion in gross withdrawals on Sunday after reopening services following a massive $6.3 billion hack, resulting in a net outflow of approximately $3.64 billion.
- Gazprom (GAZP) set a new daily record for natural gas exports to China via the Power of Siberia pipeline, as Russia continues to pivot its energy trade toward Asian markets.
- Saudi Arabia issued an "all-clear" for the southern region of Najran after air defenses successfully intercepted a Houthi-launched ballistic missile.
- Russia's Foreign Ministry expressed "extreme concern" over reports of planned new military actions against Iran, warning that further escalation could lead to a regional catastrophe.
Binance Faces Multi-Billion Dollar Outflow Post-Hack
Binance, the world’s largest cryptocurrency exchange, saw clients withdraw a gross total of $4.7 billion on Sunday, November 1, immediately after the platform resumed withdrawal services. The reopening followed a 48-hour suspension triggered by a $6.3 billion cyberattack on October 29, which the FBI has attributed to North Korean-linked hackers.
Despite the high withdrawal volume, Binance reported a net outflow of $3.64 billion after accounting for $1.01 billion in new deposits. The exchange emphasized that these outflows represent only 2.1% of its $171 billion in assets under management. Former CEO Changpeng Zhao noted on social media that volumes began to stabilize quickly after an initial surge, with the exchange pledging to absorb all losses from the hack.
Gazprom Hits Export Milestone via Power of Siberia
Russian energy giant Gazprom (GAZP) announced that daily gas deliveries to China reached an all-time high on October 31. The record-breaking volumes were delivered via the Power of Siberia pipeline, which is currently operating at its planned maximum design capacity of 38 billion cubic meters (bcm) per year.
The surge in exports comes as Gazprom (GAZP) and China's CNPC recently agreed to increase annual supplies to 44 bcm. Russia has become China's top supplier of natural gas, providing roughly one-third of the country's total imports. Market analysts suggest this continued expansion underscores Russia’s strategic shift away from European markets in favor of long-term bilateral agreements with Beijing.
Saudi Arabia Intercepts Missile; Tensions Persist in Najran
Saudi Arabian authorities announced that the "danger has passed" in the southwestern province of Najran following a brief period of high alert. The Saudi-led coalition confirmed that its air defense systems intercepted and destroyed a ballistic missile launched by Houthi forces in Yemen targeting the southern region.
The incident caused temporary disruptions and triggered alerts via the National Early Warning Platform, urging residents in Najran and Jazan to seek shelter. While the "all-clear" has been issued, the region remains on edge as Houthi forces continue to target civilian infrastructure and energy facilities, including the 400,000-barrel-per-day Jazan refinery.
Russia Warns Against New Military Action in Iran
The Russian Foreign Ministry, via the TASS news agency, issued a stern warning regarding "signals" of planned new military operations against Iran. Moscow described the potential for renewed strikes as a source of "extreme concern," suggesting that such actions would violate existing memorandums and undermine diplomatic efforts to resolve nuclear tensions.
The statement follows reports of intensified military preparations in the region involving U.S. and Israeli forces. Russia, a key partner of Tehran, argued that the build-up of military presence in the Gulf risks a "humanitarian and economic catastrophe." Diplomatic sources indicate that the Kremlin is closely monitoring the situation as it seeks to maintain its influence in the Middle East while managing its own ongoing conflict in Ukraine.
Automated market updates written with AI from market data and news wire reports, published without human review.