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Bitcoin and the wider cryptocurrency market experienced a surge over the weekend, with Bitcoin gaining 3.5% to reach $115,400, propelled by growing optimism regarding the de-escalation of the U.S.-China trade war. This rally followed a meeting between U.S. and Chinese officials in Malaysia, which produced a preliminary framework agreement viewed as a constructive step toward cooling tensions between the two largest economies. Analysts noted that this movement highlights how macro sentiment continues to drive digital assets, suggesting that Bitcoin is increasingly treated as a high-beta macro asset that reacts to temporary lifts in global risk appetite, rather than reflecting any direct fundamental link between tariff talks and crypto demand.
This reflexive price increase was interpreted by some as traders pricing in expectations for a softer global macro environment and looser financial conditions. Market sentiment on the Myriad prediction platform mirrored this positive outlook, leaning toward "greed" as the weekend progressed, influenced by the renewed trade dialogue. However, despite the market's enthusiasm, on-chain metrics such as transaction count and active users had not yet confirmed the price rebound as of a Thursday report, indicating a potential vulnerability and near-term uncertainty, even as analysts maintain a long-term bullish forecast of $200,000 for Bitcoin in the fourth quarter. Source
Coinbase CEO Brian Armstrong unveiled an ambitious vision to migrate the entire startup lifecycle, from initial incorporation and fundraising to eventual public trading, onto the blockchain. Speaking on the TBPN podcast, Armstrong detailed how founders could incorporate and raise seed rounds, instantly receiving capital in USDC via onchain smart contracts, potentially eliminating the need for traditional banks or lawyers for global transfers. He believes this shift to an onchain lifecycle would make capital formation more efficient, fair, and transparent, ultimately increasing the number of companies able to raise capital and get started.
Armstrong noted the current difficulties in fundraising and suggested onchain methods would streamline the process, leveraging Coinbase's recent acquisition of the Echo fundraising platform, which has already helped hundreds of projects raise over $200 million. Coinbase intends to gradually integrate Echo, offering founders access to its vast custody assets and global investor base. The company is also engaging with US regulators to address accredited investor rules, which Armstrong feels unfairly exclude many individuals from early-stage investment opportunities, seeking a balance between consumer protection and broader retail access. Source
Crypto exchange Crypto.com has formally applied for a national bank trust charter with the Office of the Currency Comptroller. The firm joins a rising number of cryptocurrency businesses pursuing this charter, a group that currently includes major players like USDC issuer Circle, the crypto exchange Coinbase, and Bridge, which is the stablecoin division of Stripe. According to CEO Kris Marszalek, this application is a strategic continuation of the company's commitment to building its service portfolio through offerings that are both regulated and secure. If the application is approved, the company believes the charter will significantly reinforce its standing as a premier destination for digital asset custody services.
This move by Crypto.com is part of a larger trend that began earlier this year when the OCC officially gave banks the clearance to buy, sell, and manage crypto assets within their custody. Recently, the crypto bank Erebor achieved a conditional federal charter, becoming the second firm after Anchorage Digital to do so. Furthermore, the regulatory environment could see additional crypto-friendly developments, as Federal Reserve Governor Christopher Waller is exploring the expedited issuance of specialized "skinny master accounts." These particular accounts would grant firms direct access to the Fed for payments but would come with specific limitations, such as the exclusion of privileges like interest on account balances or overdraft protection. Source
Decentralized Finance (DeFi) has entered a quiet consolidation phase following the initial boom of 2020, leading to the maturation of platforms and infrastructure that position 2025 as a potential turning point where DeFi surpasses centralized exchanges (CEXs). This evolution, spurred by the 2023-2024 bear market, forced DeFi projects to focus on real adoption and technological advancement. While centralized platforms like FTX and Celsius failed, decentralized exchanges (DEXs) enhanced their speed and user experience by leveraging high-performance chains and moving beyond simple pool-based models to implement fully onchain order books and hybrid AMM designs. This has led to substantial market share gains, with the volume ratio between the top DEXs and CEXs hitting a record low of 0.23 in Q2, and lending protocols seeing a massive 959% jump in activity since late 2022, demonstrating a clear user preference for the transparency and automation of onchain systems.
The growth of DeFi is reinforced by increasing regulatory clarity, which is encouraging major protocols to operate within clearer frameworks, and by renewed user trust following a string of centralized platform failures. Users' preference for decentralized systems is evidenced by surges in DEX volume during moments of regulatory tension, such as the SEC's lawsuits against major CEXs, and by the fact that CEXs have lost over 11 times more funds to hacks and mismanagement than decentralized protocols. Core metrics, including TVL numbers rebounding near all-time highs, confirm DeFi's commanding growth lead, prompting some CEXs, like Coinbase and Binance, to integrate onchain infrastructure, though this imitative approach often falls short of true decentralization. With their leaner, code-driven structures, DEXs can innovate at a far greater speed and lower cost than heavily-compliant CEXs, suggesting that unless centralized exchanges fundamentally reinvent their models, they risk becoming irrelevant as user trust shifts definitively towards resilient, code-based financial systems. Source
Blockchain.com has obtained a Markets in Crypto-Assets Regulation, or MiCA, license in Malta, positioning the island nation as the centre of its European operations. This move follows a trend of other crypto firms, including Kraken, Gate, and Gemini, seeking access to the European Union market through Malta. A company spokesperson indicated that Malta offers the right combination of regulatory transparency, institutional expertise, and strategic access to the European Economic Area. This licensing represents a significant European expansion, where Blockchain.com is shifting its business focus from centralized exchanges toward brokerage, institutional infrastructure, and self-custody wallet services. The firm is also monitoring regulatory developments in regions like the UK, Singapore, Latin America, and the Middle East.
The MiCA regulation, which took full effect in late 2024, established the first unified rulebook for digital asset providers across the EU, enabling firms licensed in one member state to "passport" their operations across the entire 27-country bloc. However, Malta's reputation for having a lighter regulatory approach has drawn concern from European regulators. Market authorities from France, Austria, and Italy have called for stronger EU oversight, noting that the early implementation of MiCA shows inconsistencies in how national regulators supervise crypto markets. Critics and the European Banking Authority suggest this allows for "forum shopping," where companies seek authorization in perceived more lenient countries, a practice that critics argue could undermine the bloc's financial integrity. Despite this, some legal experts maintain that a degree of regulatory diversity is an expected result of balancing national discretion with EU integration within a single market. Source
Solana co-founder Anatoly Yakovenko has voiced strong criticism regarding the decentralization and security of Ethereum's layer-2 (L2) scaling networks, arguing that the claim they inherit Ethereum's security is incorrect. Yakovenko highlighted that L2s possess a significant attack surface and code bases so extensive they become difficult to properly audit for software flaws. He further noted that user funds on these networks, which often rely on multisignature custody, are susceptible to being moved without the users' consent, suggesting a fundamental security weakness. He used the example of wormhole ETH on Solana having comparable worst-case risks to ETH on Base, while still generating revenue for Ethereum layer-1 stakers, to illustrate his point about the flawed nature of the L2 security model.
The debate around Ethereum L2s extends beyond security, encompassing their impact on the Ethereum ecosystem, particularly concerning their sheer number and revenue implications. The current count of verified and unreviewed Ethereum layer-2 networks exceeds 150, prompting some industry figures to suggest that there are far more L2s than necessary. Conversely, others view this explosion of L2s as a positive indicator of healthy growth and increased diversity within the Ethereum ecosystem, providing multiple high-throughput options. However, this proliferation is also seen as potentially detrimental to the Ethereum base layer, with reports indicating that L2s are fragmenting liquidity and cannibalizing revenue from the layer-1 due to their significantly lower transaction fees. Source
Publicly traded video sharing and livestream platform Rumble is incorporating Bitcoin tipping for its creators, a feature announced by CEO Chris Pavloski at the Plan B Forum. Rumble is collaborating with stablecoin issuer Tether to enable these Bitcoin tips, with a full rollout anticipated by early to mid-December. This move could potentially introduce Bitcoin and stablecoins to Rumble's large user base, which stood at about 51 million active users in the second quarter. Tether's CEO, Paolo Ardoino, highlighted that Bitcoin and stablecoins could empower creators, offering security against being "debanked" for their content, especially for the anti-censorship platform that is popular with conservative creators. Tether previously committed a 775 million dollar investment to Rumble last December.
In addition to the tipping feature, Rumble is developing its own crypto wallet with the help of crypto payments firm MoonPay to further improve the creator experience. Rumble has been increasingly involved with Bitcoin, having adopted a Bitcoin treasury strategy last year with plans to invest up to 20 million dollars of its cash reserves into BTC. It followed through by adding 17.1 million dollars in BTC to its balance sheet in March, and by the end of the second quarter, the firm held approximately 25 million dollars in Bitcoin. While shares of Rumble (RUM) closed up slightly on Friday at 7.14 dollars, they are down more than 45 percent year-to-date. Source
The article details the Markethive Founding Share Token (MFST), a key component within the Markethive decentralized social market broadcasting network, designed to drive capital formation for the company and offer wealth-generation opportunities for its community members. The tokens are intrinsically linked to the Initial Loan Procurement (ILP), also called the Incentivized Loan Program, which acts as an innovative crowdfunding approach by issuing a limited quantity of 1,000 MFSTs. By acquiring these tokens, community members become active stakeholders whose support fuels Markethive's development and expansion, fostering a sense of shared ownership that moves beyond traditional venture capital fundraising. The MFST's value appreciation is directly tied to the platform's growth and success, with a notable 20 percent of Markethive's net monthly profits designated for distribution as interest payments among MFST holders, providing a compelling potential for substantial returns.
The Initial Loan Procurement is structured as a debt obligation using Smart Contracts recorded on a blockchain, providing high transparency and legal compliance with the Uniform Commercial Code, which means it is not classified as a security. This structure offers a significant security advantage over equity stakes, as creditors holding debt instruments, like those underlying ILPs, have a higher priority in asset recovery during legal or financial distress. This classification provides a safety net for investors, mitigating potential losses that might occur with traditional equity investments. Returns for MFST holders are generated through consistent interest payments, paid in Hivecoin (HVC) via the ILP Blockchain, ensuring security and accuracy. This system aligns the financial interests of early adopters with the platform's overall prosperity, offering a secure and transferable blockchain token tied to verifiable performance. Source
Financial services company Western Union is initiating a pilot program for a stablecoin-based settlement system to upgrade its remittance operations, serving its over 150 million customers. The pilot aims to leverage on-chain settlement rails to decrease reliance on existing correspondent banking systems, shorten the time it takes for settlements, and improve how capital is used. CEO Devin McGranahan highlighted the significant potential in using stablecoins to move money quicker, with increased transparency, and at a reduced cost, all without compromising compliance or customer trust. This move comes as Western Union processes approximately 70 million transfers each quarter, seeing blockchain technology as a significant advantage over traditional methods for its customers in more than 200 countries.
Western Union had previously hesitated to adopt crypto due to concerns about volatility, regulatory uncertainties, and protecting customers, but the passage of the GENIUS Act has since changed their approach. This decision also mirrors the wider institutional acceptance of stablecoins, a market that has recently exceeded 300 billion and is projected to reach 2 trillion by 2028. The stablecoin offering is intended to give customers, particularly those in countries experiencing high inflation, greater control over their money, as holding a US dollar-denominated asset can provide real value where currency devaluation rapidly erodes purchasing power. Western Union is aligning with competitors, as payments platform Zelle is integrating stablecoins for cross-border transactions, and MoneyGram is set to launch a crypto app in Colombia allowing customers to use Circle's USDC. Source
US President Donald Trump has chosen Michael Selig, the chief counsel for the Securities and Exchange Commission’s pro-crypto task force, to be his nominee to lead the Commodity Futures Trading Commission (CFTC), according to a recent Bloomberg report. Selig has been instrumental in the SEC's pro-crypto regulatory overhaul during the second Trump administration, making his selection for the CFTC a clear indication that the two financial regulators are expected to align closely to establish a unified pro-crypto regulatory framework. This nomination is also seen as a significant political victory for the Trump-aligned crypto billionaire twins, Tyler and Cameron Winklevoss, who had successfully lobbied the White House to withdraw the previous nominee, Andreessen Horowitz Global Head of Crypto Policy Brian Quintenz.
The Winklevoss brothers had actively worked against Quintenz's nomination, partly due to their dissatisfaction with his perceived response to the CFTC's 2022 lawsuit against their crypto exchange, Gemini. They also opposed Quintenz's suggestion to increase the CFTC's budget and staffing, which they argued could lead to regulatory capture. The messy public feud ultimately resulted in Quintenz's nomination being pulled. If confirmed, Selig would assume responsibility for overseeing policymaking on both crypto and the rapidly growing prediction markets at a critical time for the CFTC. The agency, which typically has five bipartisan commissioners, is currently severely understaffed and operating under only one Republican commissioner, Acting Chair Caroline Pham, making Selig's role pivotal in defining the rules for these two massive, emergent sectors. Source
A new Bitcoin improvement proposal by core developer Luke Dashjr has generated significant controversy due to language that some interpret as legal threats. The proposal is the latest development in the ongoing debate over whether non-financial transactions should be filtered out and aims to restrict the amount of data in Bitcoin transactions through a one-year soft fork. The motivation for the fork is to devise a permanent solution to prevent bad actors from embedding illegal and immoral content onto the blockchain following the recent Bitcoin Core v30 update. However, the contentious section in the proposal states that there is a moral and legal impediment to any attempt to reject the soft fork, further detailing that rejection could subject users to legal or moral consequences.
Critics immediately reacted to the wording, deeming the language an attack on Bitcoin and arguing that any form of censorship or data restriction fundamentally contradicts Bitcoin's core principle of permissionless use. Conversely, some users and the developer who created the proposal argued that the liability refers to the consequences of failing to adopt the fork, which would result in illicit content remaining on the blockchain. Despite the philosophical and legal debate, the proposal is technically on track with no objections. However, technical complications have been raised, including a claim by a computer scientist that he has already recorded a transaction that exploits the proposed fix while remaining fully compatible with the improvement proposal, and research suggesting a malicious actor could use illegal content on-chain to create an economic incentive for a double-spend attack. Source
Elon Musk's aerospace company, SpaceX, executed a significant movement of Bitcoin on Friday, transferring a total of 1,215 Bitcoin, which amounted to over $133 million, according to data from the blockchain analytics firm Arkham Intelligence. These transfers, broken down into two separate movements of 300 BTC and 915 BTC sent to new wallets, followed similar, large-scale movements of funds earlier in the week. Unlike some previous transfers, the destination wallets for Friday's movement are not yet officially labeled as belonging to the Hawthorne, California-based firm. Prior to these transfers, SpaceX was noted to hold 8,285 BTC, valued at approximately $914 million when Bitcoin was trading above $110,000, positioning it as the fourth largest privately held company in terms of Bitcoin treasury size.
The purpose behind these substantial transfers, which represent the company's first on-chain activity in over three years following consolidation moves earlier this year, remains unknown, with no immediate clarity on whether the firm intends to sell any of its holdings. The article also mentions that another of Musk’s entities, Tesla, maintains a significant Bitcoin treasury, holding 11,509 BTC, valued at over $1.27 billion, placing it among the largest publicly traded companies with Bitcoin on its balance sheet. Tesla has not had any recorded on-chain activity since its October 2024 transfer of approximately $765 million in BTC to new wallets. Source
Australian crypto exchanges have generally voiced support for the government's draft legislation aimed at regulating the digital asset sector under existing finance sector laws, but their submissions to the Treasury consultation, which concluded in late September, highlighted significant needs for clarification. The proposed law introduces two new financial products—a “digital asset platform” and a “tokenized custody platform”—both requiring an Australian Financial Services License and registration with the Australian Securities and Investments Commission (ASIC). While firms like BTC Markets and Swyftx endorse the intent to bring structure, they stressed that the current draft lacks necessary clarity, with former BTC Markets CEO Caroline Bowler noting that critical questions remain unanswered and that structure must be accompanied by clarity.
Specific concerns raised by the industry include the draft law granting a high degree of discretion to the Treasury and regulators, with Swyftx demanding a clear delineation of powers between the Treasury and ASIC for setting minimum standards. Swyftx also expressed concerns about the lack of clarity on how Australian platforms can legally source liquidity from offshore exchanges to maintain a level playing field, and noted that the laws currently restrict licensed financial advisers from advising directly on cryptocurrencies. Bowler pointed out contradictions in treating a platform that does not trade financial products as a financial market and questioned the introduction of multiple licenses without clearly articulating the consumer benefit or the specific risks they address. Despite these gaps, industry representatives like Crypto.com’s Vakul Talwar are urging the government to quickly amend and introduce the bill, with some predicting legislation as early as March 2026, though others see a more realistic timeframe of late 2026 for the rules to be formalized. Source
A report by the Multilateral Sanctions Monitoring Team (MSMT), which includes the U.S. and other Western nations, indicates that North Korea is becoming increasingly systematic and sophisticated in its crypto-hacking activities, with the goal of funding its weapons program. According to the report, the Democratic People's Republic of Korea (DPRK) has stolen $2.84 billion in crypto since January 2024, including at least $1.65 billion between January and September of this year, with a significant portion resulting from February's Bybit hack. Furthermore, North Korea has been expanding an international network of IT workers, which violates UN Security Council Resolutions, deploying between 1,000 to 1,500 workers in China alone and planning to send up to 40,000 workers to Russia, with these operations extending to at least eight countries including Laos, Cambodia, and Nigeria. These financial crimes and cyber espionage operations, which target critical industries like semiconductors and missile technology, create a dangerous feedback loop that funnels money directly into procuring military equipment.
Despite the growing threat, contributors to the MSMT report, such as Chainalysis, suggest that Western agencies and private firms are improving their ability to adapt and fight back. Andrew Fierman, Head of National Security Intelligence at Chainalysis, highlighted several signs of this growing pushback, including the U.S. Office of Foreign Assets Control sanctioning a fraudulent DPRK IT worker network in August. Additionally, tens of millions of dollars worth of cryptocurrency have been recovered from the February Bybit hack, with portions traced to a Greek crypto-exchange, demonstrating the private sector's increased effectiveness in identifying and tracking these threats. To further counteract North Korea's activities, Fierman recommends increased collaboration between public and private entities, data-sharing initiatives, and the implementation of security measures like comprehensive blockchain monitoring and enhanced due diligence for IT contractor hiring, all of which are essential to identifying and neutralizing malicious actors before stolen funds can be laundered. Source
Tokyo-based fintech firm JPYC has successfully launched Japan’s first yen-backed stablecoin, also named JPYC, alongside a platform for its issuance. The stablecoin officially went live on a Monday and is designed to maintain a 1:1 exchange rate with the yen, being fully backed by bank deposits and government bonds. JPYC President Noriyoshi Okabe hailed the launch as a significant event in the history of Japanese currency and indicated that seven companies have already expressed interest in integrating the new stablecoin into their services. This domestic launch occurs as the global stablecoin market has expanded dramatically, exceeding a $308 billion market capitalization, although the market remains largely dominated by US dollar-pegged assets like USDT and USDC, which has also been introduced in the Japanese market.
In addition to the coin, JPYC introduced JPYC EX, a dedicated platform created specifically for the issuance and redemption of the token, operating under stringent identity and transaction verification protocols as mandated by the Act on Prevention of Transfer of Criminal Proceeds. The platform allows users to deposit Japanese yen via bank transfer to receive JPYC in a registered wallet, with a similar process for refunds. The company has set an ambitious long-term target, aiming to reach an issuance balance of 10 trillion yen within the next three years as part of a challenge to create a new form of social infrastructure using stablecoins. However, JPYC may soon face competition, as Monex Group has announced plans for a yen-pegged stablecoin, and a collaborative effort is underway between three of Japan’s largest banks—Mitsubishi UFJ Financial Group, Sumitomo Mitsui Banking Corp, and Mizuho Bank—to potentially issue a similar asset on MUFG’s Progmat platform. Source
Zcash has experienced a dramatic surge, blasting past its 2021 high of 319, driven by speculative hype and a renewed market focus on privacy-centric assets. The privacy coin climbed from 54 to around 372 in just one month, making it one of the market's top performers, though it remains significantly below its all-time high from nine years ago. This rapid rally is attributed to several catalysts converging, including the token's upcoming halving in November, which will cut the block reward for miners. Additionally, endorsements from high-profile investors and a growing concern over digital surveillance have revived the appeal of privacy coins like Zcash, pushing their values up.
The excitement surrounding Zcash also reflects a broader resurgence of the privacy coin sector, with assets such as Monero and Dash also posting significant gains as traders rotate into older, anonymity-focused tokens. Despite this market activity and the clear, simple privacy narrative that Zcash offers, experts caution that the rally appears to be fundamentally driven more by short-term speculation than by a verifiable increase in actual user adoption or on-chain growth, particularly a limited rise in shielded transactions. The sustainability of this uptrend is thought to hinge on the market's reaction following the halving event and whether the privacy narrative can translate into genuine, long-term user growth beyond mere speculative trading. Source
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
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