Coinbase (COIN) news that moved the stock

What happened

Hackers drained about $6.3 billion of crypto from Binance's transaction-processing wallets in roughly 20 minutes starting around 20:00 GMT Thursday, making it the biggest digital-asset theft in history — more than four times the previous record (Bybit, $1.5B). Binance initially blamed a compromised DevOps engineer's laptop; blockchain analytics firm TRM Labs says the attackers compromised Binance's signing infrastructure to authorize unauthorized withdrawals. TRM and Elliptic say the attack bears the hallmarks of North Korea's TraderTraitor unit, the same state-sponsored group the FBI blamed for the Bybit theft. Roughly half the stolen assets — about $3B — have been frozen by stablecoin issuers (Tether, Circle, Ripple, and World Liberty Financial); an estimated $2.4B in BTC and ETH is likely beyond reach. Binance has suspended all deposits and withdrawals, expects to resume them within 45-48 hours, and says customer funds are safe with losses covered by its $1B SAFU reserve. Bitcoin fell over 3-4% to a six-week low near $76,400 and ether slid to a two-month low near $2,180.

What happened

After Thursday's market close, a second wave of major companies reported Q3 results. Sandisk (SNDK) posted a record quarter with revenue of about $11 billion (above its $10.3B-$10.8B guidance range) and net income of $8.1 billion, up dramatically from $112 million a year earlier, and announced an eight-for-one stock split; the stock nonetheless wobbled after hours as elevated expectations limited the reaction. Coinbase (COIN) reported a surprise $2.51-per-share profit on $1.22 billion in revenue versus analyst expectations of a 23-cent loss — but nearly all of the $719 million net profit was a $715 million unrealized gain on crypto held for investment, with adjusted net income of only $77.7 million (down from $420.7 million a year earlier); shares fell roughly 2-3% after hours. Starbucks (SBUX) reported higher same-store sales as its U.S. turnaround showed progress, but overall revenue fell and missed expectations, pressured by changes in its China business; shares dropped nearly 2% after hours. Mondelez (MDLZ) recorded higher revenue and profit fueled by growth outside its core North America and Europe businesses, and the stock rose after hours. Gilead (GILD) lifted its full-year sales guidance after strong sales from its HIV portfolio, and shares gained about 2.6% after hours. (Sandisk's report was released during Thursday's after-close session but was first picked up in this sweep after falling between prior hourly windows.)

What happened

On October 4, OKXICE LLC published a 27-page public notice, reported by Reuters on October 5, describing how its Tokenized Securities Venue (TSV) would operate under a new SEC temporary exemption. More than 60 listed companies — including Nvidia, Microsoft, Apple, Amazon, Tesla, Alphabet, JPMorgan, Goldman Sachs, Coinbase, and Robinhood — would be available for continuous 24/7 trading against USDC, USDG, or USDT stablecoins. The joint venture is owned 50% by ICE and 50% by OKX USA; it would not run a central limit order book, hold customer assets, or conduct primary offerings, instead letting investors connect self-custodial wallets to permissioned liquidity pools on XLayer using Uniswap v4 contracts and an OKXICE-specific hook. The filing stresses the venue is not SEC-registered for the exempted activities, is not subject to Regulation NMS, and operates under a five-year exemption window with limits on symbols, volume, access, and product design.