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Industry News

Binance Customers Withdraw $4.72 Billion Following Record Cyberattack as Operations Stabilise

Binance customers have withdrawn a net $4.72 billion following a record $6.3 billion cyberattack, representing approximately 3 percent of assets held on the platform. The cryptocurrency exchange reported that withdrawals are stabilising and recorded $2.7 billion in deposits since operations resumed on Sunday. Co-CEO Richard Teng stated at Hong Kong Fintech Week that the firm remains in a strong financial position and has replenished 95 percent of affected assets.

Industry News

China Urges Fair Cooperation Following Reports of Nvidia AI Data Center Restrictions

Chinese Foreign Ministry spokesperson Mao Ning responded to reports that Nvidia instructed cloud partners to limit services provided to Chinese firms. Mao stated she was unfamiliar with the specifics but emphasized that all parties should cooperate based on fairness, transparency, and non-discrimination. The response followed a Financial Times report claiming Nvidia told partners that at least 51 percent of service revenue must come from non-Chinese clients.

Industry News

Emirates President Criticises Boeing 777X Delays and Backs Airbus A380 Revival

Emirates President Sir Tim Clark has expressed frustration over prolonged Boeing 777X delivery delays and engine maintenance bottlenecks affecting the carrier's widebody fleet. Clark confirmed Emirates will not take early-build 777-9 aircraft and reiterated his call for Airbus to develop a modernised A380. He also revealed that seven of the airline's A380s remain grounded due to engine overhaul turnaround times exceeding 350 days.

Policy & Legal Updates

China Proposes Export Restrictions Across 40 AI, Biopharma, and Solar Technologies

China's Ministry of Commerce and Ministry of Science and Technology published a draft amendment updating export controls across 40 technology areas. The rules introduce licensing requirements and prohibitions covering artificial intelligence, biopharmaceuticals, and solar cell manufacturing. Public feedback on the draft measures remains open until 15 November 2026.