Binance is targeting Nov. 2 for the release of a full proof-of-reserves report as it works toward reopening withdrawals after a security review, placing the exchange's restoration timetable at the center of a crowded week that also includes U.S. elections, jobs data and several major blockchain upgrades.
The exchange has resumed deposits but has kept withdrawals paused while it rebuilds the service and completes security testing, Binance said. Richard Teng, the company's chief executive, said the work covers endpoint devices, cloud infrastructure, key management and transaction-signing processes. Binance had aimed to restore withdrawals by Nov. 1, before a phased reopening, though it said withdrawals would return only after testing is complete.
The planned proof-of-reserves publication could give users a clearer view of the assets held against customer balances, but it will also be assessed alongside the exchange's ability to restore normal transfer operations. Proof-of-reserves reports generally show wallet holdings and may use cryptographic tools to help users verify their balances, though the scope of liabilities, governance controls and audit methodology can vary between reports.
U.S. payrolls and elections crowd the macro calendar
The U.S. October nonfarm payrolls report is scheduled for release on Nov. 6 at 21:30, according to the schedule provided. The prior report showed September payroll growth of 29,000, below an expectation of 65,000.
Employment data will arrive during a politically charged week. U.S. midterm voting is scheduled for Nov. 3, with all 435 House seats, 35 Senate seats and 36 governorships contested. Republicans currently control the White House and both chambers of Congress, while Democrats need net gains of four House seats and four Senate seats to take control of either chamber, based on the figures provided.
The 10-year U.S. Treasury yield stood at 4.9%, according to the supplied market data. Elevated government-bond yields can affect digital-asset trading conditions by raising the return available on lower-risk dollar assets and by tightening financial conditions more broadly. The payroll release may influence expectations around U.S. monetary policy, especially if it materially changes the outlook for labor-market strength.
Election-related prediction markets are also receiving scrutiny. U.S. Senators Elizabeth Warren and John Curtis sent letters to Kalshi and Polymarket seeking details on how the platforms intend to prevent insider trading and market manipulation in election wagering. The senators requested figures on suspected violations prevented before trades and detected afterward, with written responses due Nov. 3.
The inquiry puts pressure on platforms whose activity depends on users' confidence that market prices reflect public information rather than privileged knowledge. It does not itself determine whether either venue has failed to meet legal or compliance obligations.
Polymarket prepares V2 market rollout
Polymarket plans to introduce new markets using Protocol V2 on Nov. 2, following a canary pilot that ran from Oct. 5 through Oct. 30. Alex, identified in the project update, said the new smart-contract architecture uses one ERC-1155 position contract and pUSD as unified collateral.
ERC-1155 is an Ethereum token standard that can represent multiple types of tokens within one contract. Polymarket's design would consolidate positions and collateral inside a single framework rather than relying on separate structures for individual market types.
The initial V2 offering includes binary markets, atomic negative-risk markets, incremental negative-risk markets and parlays. Negative-risk structures are designed to handle groups of mutually exclusive outcomes more efficiently, such as different candidates winning the same election. Settlement support is planned through UMA and Chainlink oracle systems, which provide external data used to resolve markets.
Existing conditional token framework, or CTF, markets and positions will remain unchanged, Polymarket said. The project also plans to release Data API V2 alongside the new markets. Cantina and Certora audited the V2 codebase, while Certora also completed formal verification work, according to the announcement. Polymarket said its bug-bounty program offers rewards of up to $5 million.
Network upgrades bring conditional deadlines
Several blockchain networks face scheduled changes during the week, although some remain conditional on governance approvals or validator support.
Initia said its Layer 1 network and rollups are scheduled to resume operations on Nov. 2 after deployment of an independently audited MoveVM patch intended to isolate remaining forged balances without reversing transaction history. The project expects support for AUSD0, USDC.n and WETH to be fully restored before the restart and said users do not need to take action.
Initia's decentralized exchange will undergo a short additional pause. During that period, designated accounts will rebalance pools to market prices, with profits from the rebalancing returned to affected liquidity providers, the project said. Bridges and exchanges are expected to resume transfers after monitoring of the restarted network. Withdrawals involving LayerZero OFT WETH and AUSD0 will carry a 24-hour timing requirement.
On the XRP Ledger, Nov. 4 marks the earliest possible activation date for the fixCleanup3_4_0 maintenance amendment. Activation is conditional because the amendment previously lost its required validator majority during an earlier countdown.
An Oct. 24 snapshot showed 32 of 35 trusted validators supporting the amendment, or 91.43%, according to the supplied validator data. XRP Ledger rules require support above 80% for two consecutive weeks. The package includes fixes affecting treasuries, lending, automated market maker functions, permissioned transactions, trust lines and NFTs.
Zcash developers are targeting Nov. 5 for the NU7 mainnet upgrade. NU7 would reduce the network's block time from 75 seconds to 25 seconds and disable version 4 transactions. It would also introduce a network sustainability mechanism while retaining Zcash's halving cycle. The proposal calls for supply previously removed from issuance to begin returning in February 2031.
The upgrade does not introduce a new transaction format, which limits direct wallet changes, though full-node operators, indexers and block explorers may need software updates to accommodate the new rules and faster block production.
Akash vote and tokenized equity plans
Akash Network's governance proposal No. 346 would migrate the project from its Cosmos-based akashnet-2 chain to Solana mainnet. Voting closes on Nov. 2, and the proposal had about 98.29% support at the time of the update.
If approved and followed by audits of the token and migration portal, the plan calls for AKT to move 1:1 into an SPL token while retaining its ticker. The one-way portal would remain open for two years. Staked AKT would first need to complete a 21-day unbonding period, and a separate governance vote would be required to determine the eventual market-migration date.
TSV LLC also plans to begin trading tokenized shares of Canton Strategic Holdings, under the ticker CNTN, as early as Nov. 2 using Canton Network. The issuer-led structure uses SEC-registered on-chain transfer agent Fairmint to issue tokens and maintain the official ownership record. The model is designed to avoid the 30-day issuer-objection period associated with third-party tokenization.
Elsewhere, Strategy said Chief Financial Officer Kang will step down on Nov. 5 and remain an adviser through Dec. 31. Operating Executive Vice President Virasteh is scheduled to become CFO on Jan. 1, 2027. mETH Protocol said it will gradually wind down its cmETH liquid-restaking token, with its reward-claim window set to close on Nov. 7.
Track Binance’s proof-of-reserves push and compare CEX security models in our proof-of-reserves explainer.
Disclaimer: The content on this page is provided for general informational purposes only and does not represent the views or financial advice of Toobit. We make no guarantees regarding the accuracy or completeness of this information and shall not be held liable for any errors, omissions, or outcomes resulting from its use. Investing in digital assets involves risk; users should independently evaluate their financial situation and the risks involved. For further details, please consult our Terms of Service and Risk Disclosure.
