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Golem Report On ETH Treasuries
A new report finds ETH treasuries are seeking yield beyond the base staking rate.
Happy Tuesday, November 3, 2026.
The Golem Foundation shares a report on ETH treasuries. Binance details how its hot wallet signing system was breached. Aave V4 supports collateral swaps. And Vitalik delivers the opening speech at Devcon 8.
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Golem Report On ETH Treasuries
Kairos Research and Golem Foundation released a new report that finds ETH treasuries are looking for yield beyond vanilla staking. Lido's average yield fell from 4.5% in 2022 to 2.2%, while ETH staked grew about 3.5 times to 45.2 million. Across 28 treasuries tracked, about 74% of ETH with visible deployment is staked. Bitmine holds the largest ETH treasury with over 5.2 million ETH staked.
The report also found that ETH yields less returns while deployed in lending and liquidity provision, while first-loss cover and covered calls resulted in higher returns, but also carry additional risks. The report argues that treasury strategy must account for both ETH-denominated returns and the dollar costs organizations need to meet. Its survey respondents said staking is a base, but not enough on its own, and identified governance as the main obstacle to broader deployment.
Binance Details Hot Wallet Breach
Binance released an initial investigation that details how an attacker gained access to its hot-wallet signing operations through a multi-month, multi-stage intrusion. In September, an engineer was approached through a job platform for an interview, then persuaded to download a malicious coding assignment onto a work computer. The malware compromised the device and helped the attacker use an internal AI tool to hop into other wallet-team devices.
By October 29, the attacker had used credentials and a deployment token from difference engineers to deploy a container and run a malicious script. That access let the attacker submit transactions through an internal signing service, outside Binance’s normal withdrawal process. The attacker also used EIP-7702 to create authorizations that allowed a smart contract to move assets. Binance says it later cleared the authorizations, rebuilt affected systems, and replaced compromised devices.
Aave V4 Supports Collateral Swaps
Aave added support for collateral swaps to its V4 markets on Ethereum, Base and Avalanche. Aave Pro users can now exchange one collateral asset for another without repaying their loans or exiting their positions, with execution powered by CoWSwap. The feature allows borrowers to adjust their collateral as market conditions or their risk preferences change. Swaps are limited to assets within the same V4 spoke. The update extends the position-management tools available across Aave V4’s markets.
Misc News
Vitalik delivers the opening speech at Devcon 8 focused on privacy, AI, and security. CFTC approves equity perps trading. Vitalik comments on Protect The Protocol. Fe launches a builders challenge. Wei domains supports blob posts. The Ethereum Foundation announces an aid coordination network.
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