Markets and industry events moved in different directions on November 3, 2026: US midterm results pressured Bitcoin, Binance published details of a security breach as withdrawals reopened, and NEAR Protocol’s governance voted to reduce token issuance over two years.
US midterms and market reaction
CoinDesk’s live coverage showed the midterm picture shifting late on November 3: Democrats were projected to take the House while Republicans kept some seats. Specific results noted included Democratic projections for James Talarico in Texas and Sherrod Brown in Ohio, and Republican holds for Andy Barr in Kentucky and Harriet Hageman in Wyoming. Betting markets such as Polymarket and Kalshi moved sharply during the day, with the probability for a Democratic outcome rising from 76% at midday to 98% by evening.
The electoral flow coincided with a brief pullback in Bitcoin, which fell under $76,000 that night to its lowest level since September 15. Analysts highlighted that this year’s behaviour broke a pattern seen in 2014, 2018 and 2022, when Bitcoin traded below its 200-day moving average on election day. Martin Lee of DWF Labs noted that the months immediately after midterms have historically been volatile, while returns 12 months later have tended to be positive.
Public sentiment on crypto revealed
A public opinion survey commissioned by CoinDesk and presented on November 3 found mixed views of the crypto industry: of 849 respondents, 533 reported a less favourable view of the sector and 316 reported a more favourable view. Democratic voters were comparatively more sceptical, and younger respondents were comparatively more positive. Criticisms cited in the survey included risk, weak regulation, fraud and links between the Trump family and crypto.
Binance details breach and reopens withdrawals
Binance published an initial report on November 3 describing how attackers compromised an employee’s computer via a fake hiring process and, on October 20, used an internal AI tool to probe other engineers’ devices. The company said it had frozen or intercepted about $2.85 billion, restored 98% of affected assets, and this year had prevented 57 suspected attacks linked to North Korea. Withdrawals were reopened gradually on November 3, and the platform reported deposits now exceed withdrawals.
NEAR Protocol votes to cut issuance
NEAR Protocol’s House of Stake approved proposal HSP-029 on November 2, 2026, to reduce the network’s maximum issuance rate from 2.5% to 1.6% over a 24-month period. Under the change, gross staking yields would stop declining from 5.268% and instead settle at about 3.372%. The vote is subject to further steps: review by the Security Council, a 90-day grace period, and a validator upgrade before the reduction takes effect.
Geopolitical context
On the geopolitical front, reporting cited by the New York Times on November 3 said Israel warned the United States that Iran was allegedly considering chemical weapons, a claim that divided American officials. That same day, former president Trump told the Financial Times the US had no immediate plans for new strikes while indirect talks continued through Qatar; Iranian officials said the parties remained apart from an agreement.
What this day means for crypto
Taken together, November 3 combined political developments that influenced market sentiment with significant industry news. Election-related shifts put short-term pressure on Bitcoin, Binance’s disclosure aimed to restore user confidence after a complex security incident, and NEAR’s governance vote signals a move toward lower issuance and reduced inflationary pressure on that protocol’s token.