Key Highlights

● Ether slid to about $2,237 on Friday, October 30, 2026.

● It hit a two-month low.

● Bitcoin fell to a six-week low.

● Crypto stocks sank after Binance's breach.

Ether, the second-largest cryptocurrency, slid to about $2,237 on Friday, October 30, 2026, a two-month low. Bitcoin fell to roughly $76,700 to $77,600, a six-week low, after trading near $86,000 earlier in October.

The selling followed Binance's disclosure of a breach. The exchange confirmed on Friday that about $6.3 billion had been stolen, according to reports, which would be the largest crypto heist on record. Blockchain analytics firms TRM Labs and Elliptic tied it to North Korea. About $3 billion has been frozen, and Binance pledged to cover losses.

Coinbase leads the decline

Coinbase Global (NASDAQ:COIN) tumbled to what market reports described as a two-year low. Its own results added to the pressure. Third-quarter net Revenue came to $1.16 billion against an estimate of $1.21 billion, according to market data, and transaction revenue fell to $590 million. Net Income of $719 million was mostly a $715 million crypto gain, with adjusted net income at $78 million.

Analysts trimmed targets. Barclays cut its target to $120 from $149, Canaccord to $275 from $300, JPMorgan (NYSE:JPM) to $187 from $189, and Wells Fargo (NYSE:WFC) to $174 from $200. Chief Executive Brian Armstrong struck a more upbeat tone: "The facts on the ground are actually looking a lot better."

Strategy, Robinhood and the miners

Strategy, which holds 848,517 bitcoin, slid with the token. It reported third-quarter Earnings of $44.75 a share on a $20.91 billion digital-asset gain, while revenue of $125.4 million missed the $129.0 million estimate.

Robinhood Markets (NASDAQ:HOOD) fell with the sector after the hack and bitcoin's slide. Circle Internet Group (NYSE:CRCL), which froze $800 million in USDC with law enforcement, also dropped. Bitcoin miners including Riot Platforms (NASDAQ:RIOT), Hut 8 (NASDAQ:HUT), MARA Holdings and CleanSpark moved lower with no company-specific news. BitMine Immersion Technologies, which is tied to ether, fell as ether hit its two-month low. Galaxy Digital and Figure Technology Solutions also declined.

The analyst's warning and a risk-off day

A digital-assets research head did not see an immediate end to the selling. "I suspect the negative price action still has some way to go," he said.

Binance co-CEO Richard Teng sought to reassure customers: "We are committed to covering all hacked losses through our company funds."

The crypto slide came amid a heavy selloff in technology. The S&P 500 fell 140.32 points to 7,580.07, the Dow lost 572.25 points to 51,770.31, and the Nasdaq Composite dropped 747.73 points to 25,437.00, its worst day since June 5. Intel (NASDAQ:INTC)'s cash-burn warning and Amazon (NASDAQ:AMZN)'s results triggered selling in chip and AI stocks.

The Federal Reserve also weighed. Markets are pricing a December rate hike, and St. Louis Fed President Alberto Musalem said: "I judge that additional firming of Monetary Policy will be necessary, and soon." Gold fell to $3,898.90, a 52-week low.

What to watch

The first test is whether Binance resumes withdrawals by Sunday as planned. A smooth restart could help stabilize prices; further problems could extend the selling the analyst anticipates.

Investors will also watch the October jobs report on Friday, November 6, which could firm up expectations for a December hike. The midterm elections on Tuesday and Apple (NASDAQ:AAPL)'s results on Monday will shape the broader appetite for risk assets, including ether and the stocks tied to it.