bitcoinist.com

Tucker Carlson has reignited one of Bitcoin’s most charged debates—privacy, provenance, and the politics wrapped around the origin—by telling an audience on his “This Is The Turning Point” tour that he believes the asset traces back to the US intelligence community. Pressed during an open-mic Q&A on whether he invests in Bitcoin and whether he views it as a viable asset, Carlson said he supports the principle of financial self-determination but fears what he describes as a widening gap between the ideal and the implementation.

Bitcoin Is Not Private

“I love the idea of Bitcoin because I love the idea of financial autonomy,” he said, framing his stance in civil-liberties terms rather than price speculation. “I don’t want what I buy or sell to be tracked. I don’t want my money to be tracked. It’s nobody’s business.” Carlson, who noted he has spoken at multiple Bitcoin events—“I spoke at the Bitcoin conference actually last year… I’ve spoken at a couple of Bitcoin conferences”—cast himself as philosophically aligned with the original cypherpunk promise while distancing himself from the market’s practical realities.

The fulcrum of his critique is surveillance. “It turns out that it is not, to this point… a way to conduct financial transactions privately at all. And that really freaks me out,” he said. He extended that worry to the broader rise of digital money, warning that programmable account restrictions could be used as instruments of political discipline. “I’m really afraid of a digital currency because that is totalitarian in control. If you can punish people, if you can zero out their bank account and keep them from eating, you will have total obedience. That’s totalitarian.”

Carlson’s skepticism is not directed at BTC’s aspirations alone; he tied it to generational economics and political economy. He argued that young Americans, “completely screwed in the job market,” have turned to crypto as an upward-mobility vehicle.

He said he hopes that promise pans out—“I’m praying for them. I hope that’s true”—but warned it could devolve into a familiar alliance of “financial beneficiaries” and “the politicians they control.” As he put it: “I fear that it will become, like so many other things in our country, a scam of sorts run by a coalition of the financial beneficiaries… and the politicians they control who use it to further their control of American society.”

On portfolio choices, Carlson was categorical: “I’m a gold buyer, and I’ve been vindicated big time in that… It was good enough for the Phoenicians. It’s good enough for me.” He framed his approach as a discipline of staying within his circle of competence: “In general, don’t get involved in anything I don’t understand… I try to limit myself to things I understand.”

Who Created Bitcoin?

The sharpest provocation came when the question turned to Satoshi Nakamoto. For Carlson, the pseudonymous creator—and the unmoved early coins commonly attributed to Satoshi Nakamoto—remain a decisive obstacle. “Nobody can explain to me who Satoshi was, the creator of Bitcoin, this mysterious guy who apparently died, but nobody knows who he was,” he said, before delivering the claim that will dominate headlines: “You know, I grew up in D.C. primarily, in a government family. So CIA. That’s my guess. Can’t prove it.”

Related Reading: Bitcoin Is ‘Like Electronic Gold,’ Says Federal Reserve Governor Waller

He pressed the point as an investor’s threshold question: “You’re telling me to invest in something whose founder is, like, mysterious and has billions of dollars of unused Bitcoin. Like, what is that? And no one can answer the question, including some of the biggest holders of Bitcoin in the world, who I know personally. They’re like, oh, it doesn’t matter. What matters to me? Right?”

Carlson’s remarks interweave several long-running Bitcoin controversies. First is Bitcoin’s privacy model. Bitcoin is pseudonymous rather than anonymous; transaction histories are globally replicated and auditable by default, which is why surveillance concerns coexist with arguments that transparency is an integrity feature.

Second is origin risk: the unresolved identity of Satoshi, the status of the early-mined coins that have not moved, and the governance implications of dormant supply suddenly entering circulation. Carlson elevates origin risk from a philosophical curiosity to a non-starter for capital allocation.

For context, this is not the first time Carlson has floated the intelligence-origin theory around Bitcoin. At a private gathering during the Bitcoin 2024 conference in Nashville in late July 2024, he similarly speculated that “obviously, it was the CIA,” adding, “I think we all know that,” when pressed on Satoshi Nakamoto’s identity.

At press time, Bitcoin traded at $108,729.

La Ethereum Foundation ha confermato che il prossimo hard fork Fusaka introdurrà un limite massimo a livello di protocollo sulla quantità di gas che una singola transazione può consumare, formalizzato come EIP-7825. Il tetto è fissato a 2²⁴ gas — ovvero 16.777.216 unità, segnando la prima volta che Ethereum applica un limite per transazione distinto dal limite di gas per blocco. La modifica è già attiva sulle testnet Holesky e Sepolia e verrà implementata sulla mainnet al momento dell’attivazione di Fusaka.

In un post pubblicato il 21 ottobre, Toni Wahrstätter ha spiegato chiaramente la motivazione:

“A partire dal prossimo hard fork Fusaka, l’EIP-7825 introduce un limite massimo di gas per transazione pari a 2²⁴ (≈16,78 milioni di gas).”

La Foundation sottolinea che, pur limitando le singole transazioni, questo cambiamento non modifica il limite di gas per blocco. L’obiettivo è ridurre i vettori di attacco DoS (Denial-of-Service) in cui una singola chiamata troppo grande può monopolizzare un intero blocco, e migliorare la prevedibilità del “riempimento” dei blocchi mentre la rete si prepara all’esecuzione parallela.

Un nuovo equilibrio tra complessità delle transazioni e throughput di sistema

Con l’EIP-7825, Ethereum traccia una linea chiara tra complessità delle singole transazioni e capacità complessiva del sistema. In passato, alcune transazioni particolarmente grandi potevano consumare quasi tutto il gas di un blocco (circa 45 milioni), creando problemi di tempistiche e pianificazione per builder e validatori.

Il nuovo limite obbliga quindi le operazioni che superano i 16,78 milioni di gas a essere suddivise in più transazioni sequenziali e più leggere. La Foundation specifica che “per la maggior parte degli utenti non cambierà nulla”, poiché la grande maggioranza delle transazioni reali resta ben al di sotto di questa soglia. Il rischio riguarda principalmente contratti complessi, script di deploy e router specializzati.

Cosa significa per Ethereum e per gli utenti

Da una prospettiva di roadmap, questo limite rappresenta una base per l’esecuzione parallela. Il post collega la modifica a sviluppi futuri come EIP-7928, previsto nell’era “Glamsterdam”, dove transazioni prevedibili e limitate sono un prerequisito per una concorrenza efficace nel livello di esecuzione.

Garantendo che in ogni blocco possano sempre essere incluse più transazioni indipendenti — anche in condizioni estreme di mempool — il limite riduce i casi peggiori di congestione e semplifica la progettazione dei pianificatori per i builder che sperimentano percorsi di esecuzione parallela.

Dettagli tecnici dell’EIP-7825

La specifica è semplice e diretta:

“Limitare ogni transazione a 16.777.216 (2²⁴) gas per migliorare la resilienza contro determinati vettori di attacco DoS e rendere più prevedibile l’elaborazione delle transazioni man mano che aumentano i limiti di blocco.”

Questa semplicità è proprio ciò che ha reso l’EIP popolare tra gli sviluppatori core: una regola piccola, chiara e compatibile con i futuri upgrade di scalabilità.

Le discussioni su come codificare e comunicare il limite sono andate avanti per mesi, anche su Ethereum Magicians e durante le call AllCoreDevs. Un punto centrale del dibattito è stato allineare i target di gas per blocco a multipli di 2²⁴, garantendo così che i builder possano sempre includere almeno n transazioni se la mempool ne contiene n idonee — una questione di prevedibilità più che di throughput puro.

Implementazione e impatti per sviluppatori

Tutti i principali client — Geth, Erigon, Reth, Nethermind e Besu — hanno già implementato il cambiamento nelle versioni compatibili con Fusaka, riducendo il rischio di divergenze tra client al momento dell’attivazione.

Le chiamate eth_call non saranno influenzate, ma le transazioni pre-firmate che superano il limite dovranno essere ri-firmate con un valore di gas inferiore. Per gli sviluppatori, il percorso di aggiornamento è semplice:

• testare su Holesky o Sepolia,

• ottimizzare le operazioni batch,

• aggiornare la logica di stima del gas e le alert per segnalare rapidamente eventuali superamenti del limite.

Contesto politico e filosofico

Storicamente, Ethereum ha preferito introdurre vincoli minimali e generali, lasciando la complessità ai livelli superiori. L’EIP-7825 segue questa filosofia: non impone come debbano essere scritti i contratti, ma assicura un limite superiore che protegge la vitalità della rete e prepara il terreno per un futuro multi-threaded.

Non modifica le dinamiche del mercato delle fee, né tocca l’economia dei blob o i target di blocco di altri EIP. Come riassume la Foundation:

“Questo limite stabilisce una base più sicura e prevedibile per un throughput più elevato nei futuri aggiornamenti.”

Un piccolo passo tecnico, ma un grande passo strategico verso la scalabilità del layer di esecuzione di Ethereum.

The XRP price has yet to reclaim its $3.84 all-time high from back in 2018, continuing to trend below $3 even now. However, this has not stopped analysts from predicting a bright future for the cryptocurrency. A fair number have forecasted that not only is the alt coin’s price headed to new all-time highs, but also that it is actually destined to cross double-digits.

With many new developments surrounding Ripple and XRP, even analysts who didn’t believe the double-digit dream seem to be changing their stance.

The XRP Price Could Still Reach $21

Crypto analyst and investor Crypto Bitlord has publicly announced a change in their stance when it comes to the XRP price. While the analyst had previously predicted that the XRP price could reach as high as $5, the double-digit dream had been unreachable. That is, until now, as the crypto analyst has walked back previous “FUD” surrounding the cryptocurrency.

In an X post, Crypto Bitlord explained that they are finally slowly connecting the dots for XRP. With this, the crypto analyst believes that not only will the XRP price cross the double-digit threshold, but now, it actually has the potential to reach as high as $21.

This was made in response to a post highlighting that the US Federal Reserve was actually now looking into payments accounts. These payments accounts are to enable crypto and financial technology companies to access payment rails connected to the Federal Reserve. This is essentially opening a door that was previously closed to these companies in the past.

The turn in the stance of the Federal Reserve is not only positive for crypto, but also, it is expected to be bullish for Ripple and the XRP price. This is because Ripple has, in the past, explained that the XRP Ledger was actually built to facilitate payments for entities.

The speech given by Governor Christopher J. Waller at the Payments Innovation Conference in Washington, D.C., highlights the need to actually bridge the gap between traditional payment methods and the crypto payment methods that are rapidly emerging. Governor Waller explains that the Federal Reserve is actually planning to be a part of this new technology.

“As Federal Reserve staff examine this idea, we will engage with all interested stakeholders to hear perspectives on the benefits and drawbacks to this approach,” the Governor said.

Ahead of one of the most anticipated initial public offerings (IPOs) in the digital asset sector, US-based crypto exchange Kraken has reported record revenue for the third quarter (Q3) of the year.

New Kraken Exchange Milestones

In a statement released on Wednesday, Kraken revealed that its Q3 2025 revenues (net of trading costs) reached $648.0 million, marking a 50% increase quarter-over-quarter and setting a new all-time high for the company. 

Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) soared to $178.6 million, a 124% increase compared to the previous quarter, with margins rising by nine points to 27.6%.

Total platform transaction volume climbed to $561.9 billion, up 23% from the previous quarter of the year, while assets on the platform grew by 34% to $59.3 billion. Kraken’s community continues to expand, with 5.2 million funded accounts reported at the end of the quarter.

These results come as Kraken prepares for its initial public offering potentially for next year. The company disclosed last month that it is in advanced discussions with a strategic investor to secure new funding at a revised valuation of approximately $20 billion.

A number of crypto firms, including, Gemini Space Station (GEMI), and Figure Technology Solutions (FIGR), are pursuing US market debuts this year, buoyed by a more favorable regulatory environment under the pro-crypto Trump administration.

Such regulatory developments led to the Nasdaq debuts of stablecoin issuer Circle (CRCL) and Peter Thiel-backed crypto exchange Bullish (BLSH) this year. Initial excitement surrounding their launches led to a considerable surge in their respective stocks.

 Acquisition Strategy Pays Off

Kraken’s success is also supported by several acquisitions announced this year. Following the acquisition of NinjaTrader, Kraken has been expanding its derivatives offerings, with futures daily average revenue trades (DARTs) reaching 741,000 in Q3, a 42% increase from the previous quarter. 

Last week, Kraken also acquired Small Exchange, a CFTC-regulated Designated Contract Market (DCM), which enhances its direct market-access infrastructure in the US,

Looking ahead, Kraken emphasized that its Q3 2025 results not only reflect strong financial performance but also the company’s commitment to shaping systems that will define the future of finance. “We are building what legacy financial systems were not designed to achieve,” the statement noted. 

Our goal is to connect our infrastructure into a single digital network where capital moves seamlessly across asset classes, time zones, and use cases. This system will enable clients to invest and trade anything, anywhere—instantly and securely, without friction or fragmentation. This is more than an evolution; it’s the foundation of a new global operating system built for openness, speed, and scale.

Featured image from DALL-E, chart from TradingView.com 

FalconX has announced an acquisition of 21Shares, combining prime brokerage infrastructure with the world’s largest crypto ETP platform.

FalconX Pushes Into Crypto ETFs & ETPs With 21Shares Acquisition

As announced in a press release, FalconX has agreed to acquire 21Shares. FalconX is an institutional crypto prime brokerage that provides large clients with deep global liquidity, derivatives, financing, custody, and settlement across digital asset markets. It has facilitated over $2 trillion in trading volume and hosts a global client base of more than 2,000 institutions.

Meanwhile, 21Shares is the largest issuer of crypto exchange-traded funds and products (ETFs/ETPs). ETFs/ETPs refer to investment vehicles that allow investors to gain exposure to an underlying asset without directly having to own it. When a trader invests into one of these vehicles, the provider buys and custodies the asset on their behalf.

Some investors may be wary of navigating crypto exchanges and wallets, so products like ETFs and ETPs provide for a more regulated means of investment into digital assets, in a mode that’s more familiar.

21Shares has 55 of these products listed currently, across which it manages over $11 billion in assets. With the acquisition, its asset management product development and distribution capabilities will be combined with FalconX’s institutional-grade infrastructure.

The press release noted:

Together, the two firms will accelerate the creation of tailored investment products that meet growing institutional and retail demand for regulated digital asset exposure.

While FalconX is acquiring 21Shares, the latter will continue to operate independently, with Russell Barlow, its current CEO, remaining in charge. Barlow will work closely with FalconX leadership to advance a shared vision for the digital asset ecosystem. “No changes to the construction or investment objectives of the existing 21shares ETPs (Europe) or ETFs (US) are planned,” said the press release.

In some other news, the Bitcoin derivatives landscape has been changing recently, as on-chain analytics firm Glassnode has highlighted in an X post. Previously, the Futures market was dominant, but now the Options market is beginning to rival it in terms of Open Interest.

The Open Interest here is naturally a measure of the total amount of positions related to the crypto that are currently open on all derivatives exchanges. First, here is a chart that shows the trend in this metric for the Futures market:

As displayed in the above graph, the Bitcoin Futures Open Interest saw peaks above $20 billion in the 2021 bull market and recently reached a high of about $50 billion.

The Options Open Interest couldn’t even break $15 billion in the last cycle, but today its 7-day moving average (MA) value is floating around a new all-time high (ATH) of more than $55 billion.

As the analytics firm has explained,

Markets are shifting toward defined-risk and volatility strategies, meaning options flows, rather than futures liquidations, are becoming a more influential force in shaping price action. Bitcoin Price

At the time of writing, Bitcoin is floating around $107,800, down over 4% in the last 24 hours.

Quick Facts:

1️⃣ Venture capital firm a16z reveals stablecoin trends in a new report, strengthening long-term conviction in the broader crypto market.

2️⃣ The growing transaction volume and market cap signal that the market’s expansion is unstoppable, should crypto infrastructure keep up with rising adoption.

3️⃣ The report is good news for the emerging Best Wallet Token, its presale pushing closer to the $17M milestone.

Stablecoins are now a global macroeconomic force, announces a16z in its new State of Crypto report, shedding light on the sector’s rapid growth and what it means for the broader market.

The claim is backed by strong numbers:

Over 1% of all US dollars in circulation exist on public blockchains as tokenized stablecoins. Together, they hold more than $150B in US Treasuries, leaving countries like Saudi Arabia and Germany behind to secure the 17th ranking.

Although the crypto market is wobbly after $BTC hit a new ATH earlier this month, that hasn’t tainted its long-term picture.

The recent turbulence may have managed to knock $BTC off $110K, but stablecoin trends signal that the market’s maturing – and price corrections are part of the deal.

For context, the stablecoin market cap has crossed $300B for the first time ever, as the transaction volume jumps 106% in a year to touch $46T.

To grasp how staggering that figure is, we just need to compare it with the world’s largest payment networks.

Stablecoin volume is now nearly three times Visa’s volume ($16T) and set to overtake ACH Network ($87T), the same a16z report showed.

Several Catalysts Have Come Together

While stablecoins were limited to crypto nerds in their early days, they’re now seen as one of the most reliable ways to transfer money cross-border. Ease of use is definitely the primary factor behind their wide use.

For this, we have advancing blockchain infrastructure to thank, with some networks capable of processing more than 3400 transactions per second.

Murky crypto regulations held back stablecoin adoption for a long time, but crypto regulations like the GENIUS Act have changed that in the US. And the shift is visible across the world.

For example, the UK is preparing to introduce a stablecoin framework by the end of 2026.

Financial giants and fintech companies have also been actively exploring the digital asset market, encouraging others to follow.

For crypto investors, the newly published report is a reminder to expand their portfolios. But being mostly pegged to US dollars, the value of stablecoins reflects the growth of the US economy – not the crypto market.

So how can one gain exposure to this booming sector? The answer lies in promising crypto infrastructure projects, which reflect the market’s rapid growth.

That explains why strategic investors are stocking up on Best Wallet Token for early-bird prices this month, pushing its presale past $16.6M.

Why Best Wallet Token Is the Project to Watch Now

Unless blockchain infrastructure evolves alongside rising retail and institutional crypto adoption, sustaining growth will be difficult.

The market needs secure wallets, exchanges, and networks to bring more crypto users on board.

Noncustodial wallets, in particular, are growing more popular than ever. Since holders have complete control over their private keys, they allow true ownership – in line with the market’s original motto of financial freedom without intermediaries.

With hundreds of thousands of users and glowing reviews on both App Store and Play Store, Best Wallet has emerged as a top trending noncustodial crypto wallet this year.

What’s behind this growing frenzy?

• The platform is secured with Fireblocks MPC tech, offering advanced security without compromising user experience.
• Being multichain, the wallet is flexible and allows users to switch assets between top blockchains like Ethereum, Bitcoin, Polygon, and BNB Chain. 50 more network integrations are on the way.
• The Best ecosystem is not limited to its crypto storage solution. It also offers features such as cross-chain swaps and presale access that give it a strong edge against market leaders like MetaMask.

For example, the platform plans to launch an everyday crypto shopping card in its next phase, as part of its mission to drive retail crypto adoption.

As the native crypto of a trending crypto ecosystem in a fertile niche, Best Wallet Token ($BEST) positions itself as a top crypto to buy now.

More than a representation of the project, $BEST unlocks various perks and privileges in the ecosystem – like early access to new projects, reduced transaction fees, higher staking rewards, and community governance rights.

These utilities could work well to anchor the token’s value and resilience, helping it withstand turbulent markets and maintain steady growth.

See the full $BEST roadmap on the official site.

What to Know About $BEST and the Ongoing Presale

While the Best Wallet app is already up and live with a growing community of users, the $BEST token is currently on presale.

The investment opportunity is still fresh, since $BEST has yet to go live on exchanges. Now in the second roadmap phase, the token is available for purchase at just $0.025835 for the next few hours.

Our Best Wallet Token price prediction projects the price to reach $0.072 by the end of the year and as high as $0.62 in 2026, considerably above today’s early prices.

For detailed presale instructions, see this ‘How to Buy Best Wallet Token‘ guide.

Once the next presale stage begins, new adopters will have to pay a higher price to secure the token. Additional staking rewards apply, but the rate is dynamic and bound to go down over time (currently at 79% APY).

Visit the official Best Wallet Token presale.

As always, do your own research before investing in crypto. This is not financial advice.

Authored by Bogdan Patru, Bitcoinist — https://bitcoinist.com/stablecoin-transactions-pump-best-wallet-token/ 

The volume of crypto transactions in the US has skyrocketed under President Donald Trump’s administration. A new report by TRM notes that between January 2025 and July 2025, crypto transactions in the US surged by about 50%, crossing $1 trillion in value.

Crypto Witnesses Resurgence Under Trump

According to a report by TRM, titled ‘Country Crypto Adoption Index 2025’, countries like India, the US, Pakistan, the Philippines, and Brazil ranked among the top five nations around the world in terms of digital assets adoption.

While India maintained its number one position on the list in terms of digital assets adoption – for the third time in a row – the US ranked second on the list, primarily buoyed by a favorable change in regulatory administration, being led by President Trump.

Compared to the same period in 2024, digital assets transactions in the US jumped by 50% between January 2025 and July 2025, valued at more than $1 trillion. This cements the US as the largest global digital assets market in absolute terms.

The report notes that the increase in crypto transactions in the US is due to a combination of different factors, including favorable regulations. The report also attributes the increase in crypto activity in the US to the rising institutional demand for BTC. It states:

Additionally, according to reporting by MarketWatch, regulated products like spot Bitcoin exchange-traded funds (ETFs) attracted nearly USD 15 billion in net inflows during the first half of 2025, signaling institutional demand.

It should be noted that Trump’s presidential campaign was the first for a major US political party to accept donations in cryptocurrencies. Since his victory in the November 2024 election, there has been a noticeable rise in digital assets activity in the US.

Latest analysis by TRM states that there was a 30% increase in traffic to crypto exchanges in the US in the six months following Trump’s victory. Since then, Trump has repeatedly promised to make the US the “crypto capital of the world.”

To that effect, the US Congress passed the GENIUS Act, the first comprehensive stablecoin law in the country. Although it is facing some challenges now. In addition, the White House issued its 180-Day Digital Assets Report, which provides a roadmap for agency action.

The Trump administration also appointed the US’ first-ever “crypto tsar”, to coordinate crypto-related policies across different agencies. Meanwhile, the US Securities and Exchange Commission (SEC) unveiled a Crypto Task Force to guide digital assets oversight.

A Clear Change In Tone

Recent commentary by US lawmakers and government officials shows a clear shift in stance toward digital assets, in stark contrast to the hostile stance under the Joe Biden administration. 

For example, US Federal Reserve Governor Christopher Waller recently stated that the decentralized finance (DeFi) industry is “not viewed with suspicion or scorn.” At press time, BTC trades at $108,088, down 4% in the past 24 hours.

In a recent letter, multiple Senate Democrats have raised concerns about a potential breach of federal ethics laws due to the US Special Envoy to the Middle East’s failure to divest from his crypto asset holdings.

US Senators Question Witkoff’s Crypto Holdings

On Wednesday, eight Senate Democrats, led by Senator Adam Schiff, questioned the US Special Envoy for peace missions, Steve Witkoff, about his digital asset ownership and his links to the Trump Family crypto ventures.

In a letter shared by Fortune, the US lawmakers raised concerns about a potential conflict of interest as Witkoff’s latest financial disclosure showed that he has yet to divest from some of his crypto holdings, including an ownership stake in World Liberty Financial (WLF) and the company’s WLFI token. Notably, the US Special Envoy is one of WLFI’s co-founders alongside his son, Zach Witkoff, and members of the Trump Family.

“As long as you maintain ownership of these assets, you stand to profit from any decisions you are involved with while serving in the Administration. Moreover, the public has ample reason to be concerned that your decision-making may also be influenced by your close personal and business ties to the Trump Organization,” the letter read.

The Senators noted that one of WLF’s co-founders, Zak Folkman, previously affirmed that by May 23, 2025, Witkoff had “no operational role, no financial interest in WLFI deals, and no influence on day-to-day decisions.” Folkman also added that Witkoff was “in the process of fully divesting from WLFI,” which had not happened at the time of the release of White House financial report in August.

To the lawmakers, this underscores the “troubling entanglement” between the US Special Envoy’s official duties and his private financial interest tied to the Trump family businesses, highlighting World Liberty Financial’s $2 billion deal with a United Arab Emirates (UAE) firm involving the company’s stablecoin USD1.

As reported by Bitcoinist, previous Wall Street Journal (WSJ) coverage raised similar concerns regarding the “extraordinary blurring of government negotiations and private business dealings,” claiming that it is “rewriting the diplomatic playbook for some foreign countries looking to gain traction with the new Trump administration.”

In May, the WSJ claimed that father-and-son duo Steve and Zach Witkoff have potentially helped blur the lines of private business and public duties of the current administration, highlighting World Liberty Financial’s deal to enable MGX’s $2 billion investment.

The report also noted a previous article that claimed the elder Witkoff was allegedly involved in the talks between the Trump family and Binance. Nonetheless, these talks have been denied by Binance’s co-founder and former CEO Changpeng “CZ” Zhao.

Ethical Compliance Inquiries Mount

“Your failure to divest your ownership in these assets raises serious questions about your compliance with federal ethics laws and, more importantly, ability to serve the American people over your own financial interests,” the lawmakers stated.

In the letter, the Senate Democrats asked Witkoff to respond to multiple requests by October 31, 2025. Among the questions, they inquired about the status of his financial interest in the Trump-linked crypto company.

Additionally, they asked the US special Envoy if he had received a written waiver that exempts him from penalties and allows him to participate in key discussions with the UAE while owning a stake in WLFI.

If a waiver has not been granted, they also requested an explanation of how Witkoff’s financial holdings do not violate federal ethics laws and regulations, which prohibit government officials from participating in ventures that could benefit them or their relatives.

It’s worth noting that Witkoff is one of multiple US officials who have been questioned about their own holdings or the US President’s crypto ventures. In July, Senate Democrats pressed the new head of the Office of the Comptroller of the Currency (OCC) about a potential conflict of interest related to the Trump family’s stablecoin, USD1.

Earlier this year, two senators raised similar concerns in a letter to former acting chairman of the Securities and Exchange Commission (SEC), Mark Uyeda. Meanwhile, Democratic lawmakers proposed the Curbing Officials’ Income and Nondisclosure (COIN) Act to prevent crypto-related conflicts of interest four months ago.

A recent investigation highlighted that, unlike most of his predecessors, President Trump has not put his crypto ventures in a trust managed by an independent party. However, the White House has denied any potential conflict of interest between the President’s businesses and his official duties.

The United Kingdom’s (UK) Financial Conduct Authority (FCA) has initiated a lawsuit against cryptocurrency exchange HTX, which is owned by controversial crypto investor Justin Sun, alleging violations of UK financial promotion regulations.

On Wednesday, the FCA announced that it had filed civil proceedings in London’s High Court against HTX, previously known as Huobi, for allegedly breaching Britain’s financial promotions regime. According to the FCA’s website, HTX is not authorized to operate within the UK.

HTX Remains On FCA’s Warning 

A spokesperson for the FCA told Reuters the regulator’s commitment to protecting consumers and maintaining the integrity of the UK financial markets. 

“We have seen crypto firms respond positively to our financial promotions rules and regulations. However, we will not hesitate to take action against firms that appear to breach our rules,” the spokesperson stated.

The legal filings name defendants including “persons unknown” who are currently managing promotions on behalf of HTX cryptocurrency exchange across various social media platforms. 

Despite positive regulatory changes in the country following the US leadership in establishing a new framework for the growth and adoption of digital assets, HTX has been on the Financial Conduct Authority’s (FCA) warning list of unauthorized firms since October 2023. The FCA advises consumers against engaging with the exchange.

Notably, the FCA has accelerated crypto application approvals in an attempt to mull the US more favorable regulatory environment for cryptocurrencies and firms of the industry, with already five firms approved to operate in the country since April of this year. 

Under UK law, firms marketing crypto asset services to consumers, including those based overseas, are required to register with the FCA in compliance with money-laundering regulations. 

In October 2023, the Financial Conduct Authority introduced new rules governing the promotion of crypto assets, aligning their marketing with other types of financial promotions.

Justin Sun’s Latest Moves In Crypto

Founded in 2013 and registered in the Seychelles, HTX claims to have over 47 million registered users globally, with more than nine million identified as trading users, according to the company’s website. 

Despite his controversial moves, which have recently included a key role in the Trump family’s crypto ventures, Justin Sun — a billionaire Chinese entrepreneur and the founder of the decentralized blockchain platform Tron (TRX) — acquired HTX in 2022.

Sun is a major supporter of President Donald Trump’s decentralized finance (DeFi) platform World Liberty Financial (WLFI), having invested approximately $90 million in Trump-related tokens. 

Notably, a wallet labeled “SUN,” identified by blockchain analysts as belonging to HTX, has emerged as the top holder of President Trump’s official memecoin launched in January of this year. 

Featured image from DALL-E, chart from TradingView.com 

After two weeks of a disappointing run, Ethereum (ETH) is once again capturing institutional interest as major funds and asset managers step into the smart-contract platform.

According to recent data, Bitmine Immersion Technologies purchased approximately $251 million worth of ETH, adding 63,539 tokens to its portfolio and bringing its holdings to over 3 million ETH ($13 billion).

Institutional Capital Flows Bolster Ethereum’s Bullish Case

BlackRock’s clients have added $41.91 million in Ethereum, marking another sign of growing institutional adoption.

These inflows come as Ethereum breaks out of a descending trendline pattern and parallels the rally seen in gold, with ETH’s correlation to gold reaching 0.7 in Q3 2025, driven by ETF inflows and DeFi-driven growth.

On-chain metrics further reinforce this accumulation narrative. Wallets are moving more ETH off exchanges, signaling long-term holding behavior, while tokenization and DeFi usage on Ethereum’s network continue to expand meaningfully.

Institutions appear to be treating Ethereum not just as a speculative bet, but increasingly as a foundational infrastructure asset, particularly given Ethereum’s post-Proof-of-Stake upgrade energy efficiency and suitability for ESG mandates.

Ethereum Holds $4,100 Resistance, Eyes on $4,440

From a technical vantage, Ethereum is testing the key resistance zone near $4,100–$4,440. Analysts like Ali Martinez point out the recent breakout of the descending trendline provides a bullish structural shift, but only if support levels remain intact.

The most critical support lies near $3,800, with a deeper fallback to $3,600 if momentum fades. A sustained move above $4,440 could unlock a run toward $4,800–$5,000, provided institutional flows and macro conditions align.

Conversely, a close below $3,800 would weaken the momentum thesis and potentially invite a retracement toward $3,560 or lower.

With ETF flows, macro liquidity, and network fundamentals converging, Ethereum is showing a rare blend of structural strength, but execution is key. The near-term jury is out until Ethereum closes decisively above $4,100 with volume confirming the move.

Cover image from ChatGPT, ETHUSD chart from Tradingview

The Hong Kong SFC has just approved the first Solana spot ETF, allowing the altcoin to join the ranks of Bitcoin and Ethereum.

ChinaAMC To List First Solana Spot ETF In Hong Kong

As reported by the Hong Kong Economic Times, the Securities and Futures Commission (SFC) has approved the first Solana spot exchange-traded fund (ETF) in Hong Kong. A spot ETF is an investment vehicle that allows investors to gain exposure to an underlying asset without having to directly own it. In the case of a cryptocurrency like SOL, this means that traders can invest without having to hold actual tokens on the blockchain.

Hong Kong approved spot ETFs for Bitcoin and Ethereum in April 2024. The BTC products followed three months after they were approved in the US by the Securities and Exchange Commission (SEC), but the Chinese city led the way with ETH products. The same dynamic appears to be playing out again. With the US government currently facing a shutdown that has frozen SEC operations, Hong Kong’s SFC has beaten the American regulator to approving a Solana spot ETF.

The spot ETF, issued by Chinese asset management company ChinaAMC, is set to launch on October 27th. It will be available in three trading lots: HKD, RMB, and USD. Each is equivalent to 100 tokens of the cryptocurrency. ChinaAMC previously launched Bitcoin and Ethereum spot ETFs on the Hong Kong stock exchange as part of the initial wave of approvals granted by the SFC in April 2024.

Over in the US, several SOL ETF filings are waiting to be processed, but with the current government shutdown, it’s unclear when they will finally be reviewed. Other altcoins like Dogecoin and XRP have also seen their filings similarly delayed.

Speaking of the US spot ETFs, Bitcoin funds witnessed a notable amount of inflows on Tuesday, as data from SoSoValue shows.

In total, the Bitcoin spot ETFs captured net inflows of about $477 million, breaking the trend of outflows from the last week. Ethereum funds also saw the incoming of capital, but their inflows of $141 million weren’t as significant as those of BTC products.

As mentioned before, spot ETFs allow investors to gain exposure to a cryptocurrency’s price movements without directly having to own tokens on the blockchain. For traditional traders unfamiliar with digital asset exchanges and wallets, this quality can make these vehicles a convenient entry point into the asset.

Bitcoin and Ethereum funds were able to tap into a new market in this way, and the same could potentially happen with Solana. That said, it only remains to be seen how demand for SOL spot ETFs will end up looking.

SOL Price

At the time of writing, Solana is trading around $186, down 8% over the last week.

Attorneys for Sean “Diddy” Combs told a US federal court they will appeal his conviction and the 50-month prison sentence handed down after his trial. They filed a formal notice of appeal on Monday and are expected to file the full appeal papers soon.

Diddy: Legal Outcome And Sentence

According to court filings and public records, a jury convicted Combs on two counts of transportation to engage in prostitution, while clearing him on two other charges, sex trafficking and racketeering.

Judge Arun Subramanian imposed a 50-month prison term, a $500,000 fine, and five years of probation. At sentencing, the judge said a substantial term was needed so that abuse of women “is met with real accountability.”

Combs had asked for a 14-month sentence so time already spent in custody would lead to a quick release. Prosecutors had pushed for more than 11 years. At the hearing, Combs told the judge, “My actions were disgusting, shameful, and sick.” He said he got “lost in excess” and asked for mercy while apologizing to two women who testified against him.

Sean ‘Diddy’ Combs has filed a notice of appeal in his federal criminal case following his conviction and sentencing in New York. The legal move indicates he is challenging the court…https://t.co/kztoafXP5A#Diddy #LegalNews #FederalCourt

— TC (@tc0888) October 21, 2025

Jury Findings And Trial Details

Reports have disclosed that Combs was arrested in September 2024. His trial ran for nearly two-months this summer and drew widespread coverage.

Witnesses described encounters that prosecutors said showed Combs used his influence in the music industry to pressure people into sexual situations.

One witness, Cassandra Ventura, said she was physically abused and coerced into encounters described in court as “hotel nights.”

Another witness who testified under the name Jane said she felt pressured even when she was unwell.

The jury’s split verdict — guilty on the transportation counts but not guilty on sex trafficking and racketeering — leaves open legal and factual fights that the defense is likely to press on appeal.

Jail Proximity And Public Interest

Another angle that attracted attention was Combs’s placement at the Metropolitan Detention Center in Brooklyn, where he was housed in the same unit as Sam Bankman-Fried, the former crypto executive convicted in the FTX case.

Sources say the two men shared dormitory-style housing and had some informal interactions. There is no public evidence linking Combs to the financial crimes at the center of Bankman-Fried’s conviction, and officials have not tied the two cases together.

Tech And Crypto Connections

Sean ‘Diddy’ Combs has taken part in several tech and crypto-adjacent moves in recent years. He was listed among investors in the banking app ECO, which raised roughly $26 million.

He joined a funding round for a hologram and virtual-communications company that was about $12 million. Disclosure documents from June 2023 tied funds linked to Combs to a stake in X Corp.

A celebrity-linked “DIDDY” meme token briefly reached a market cap near $180 million during news cycles, though links between Combs and that token remain unclear.

Featured image from SiriusXM, chart from TradingView

The Ethereum Foundation has confirmed that the upcoming Fusaka hard fork will introduce a protocol-level ceiling on how much gas a single transaction may consume, formally codified as EIP-7825. The cap is set at 2²⁴ gas—16,777,216 units—marking the first time Ethereum enforces a per-transaction limit distinct from the block gas limit. The change is already active on Holesky and Sepolia and will go live on mainnet when Fusaka activates.

In a post published October 21, Toni Wahrstätter framed the rationale in direct terms: “Starting with the upcoming Fusaka hard fork, EIP-7825 introduces a per-transaction gas limit cap of 2²⁴ (≈ 16.78 million gas).” The Foundation’s note emphasizes that while the cap bounds individual transactions, it does not alter the block gas limit; instead, it is designed to mitigate denial-of-service vectors where a single oversized call monopolizes an entire block and to improve block packing predictability as the network prepares for parallel execution.

EIP-7825 draws a clean line between transaction-level complexity and system-level throughput. Previously, exceptionally large calls could approach the full block gas target (around 45 million at times), creating timing and scheduling pathologies for builders and validators.

The new ceiling obliges workloads that would exceed 16.78 million gas to be broken into smaller, sequenced calls. The Foundation’s guidance is careful to note that “for most users, nothing changes,” since the statistical distribution of real-world transactions already sits well below the threshold; the risk surface primarily concerns batch-heavy contracts, deployment scripts, and specialized routers.

What This Means For Ethereum And Users

From a roadmap perspective, the cap is explicitly positioned as groundwork for parallel execution. The blog post connects the change to anticipated efforts such as EIP-7928 in the “Glamsterdam” era, where predictable, bounded transactions are a prerequisite for meaningful concurrency in the execution layer. By ensuring that at least several independent transactions can be packed per block—even under pathological mempool conditions—the cap reduces worst-case contention and simplifies scheduler design for builders experimenting with parallelizable execution paths.

The specification itself is spare and mechanical. EIP-7825’s abstract states the intent “to 16,777,216 (2^24) gas” per transaction, improving resilience against certain DoS vectors and making transaction processing more predictable as block limits rise. That simplicity has been part of its appeal in core-dev channels: a small, well-scoped constraint that preserves forward compatibility with more ambitious scaling work.

Debate on how to encode and communicate the ceiling has been active for months, including discussions over naming and parameterization on Ethereum Magicians and during AllCoreDevs calls. One thread summarized the core guarantee being targeted by several contributors: aligning block targets to multiples of 2²⁴ so builders can always include at least n transactions if the mempool has n eligible ones—an argument for predictability rather than raw throughput.

Operationally, the Foundation says all major clients—Geth, Erigon, Reth, Nethermind, and Besu—have implemented the change in Fusaka-ready releases, reducing cross-client divergence risk at activation. The post also stresses that eth_call semantics are unaffected and that pre-signed transactions whose gas limits exceed 2²⁴ will need to be re-signed below the cap. The upgrade path for developers is straightforward: test against Holesky or Sepolia, re-tool batch operations that flirt with the limit, and adjust gas-estimation logic and alerts so they fail fast when constructions exceed the new ceiling.

The policy context is worth parsing. Ethereum’s history has favored minimal, general-purpose constraints, deferring complexity to higher layers. EIP-7825 fits that pattern: it does not opine on what contracts should do, only that they respect an upper bound that protects liveness and prepares the execution layer for a multi-threaded future.

It also sidesteps fee-market alterations and leaves blob-space economics and block targets to other EIPs and forks. As the Foundation put it, the cap “establishes a safer and more predictable foundation for higher throughput in future forks,” a line that sums up the trade-off succinctly.

At press time, ETH traded at $3,835.

Bitcoin is struggling to reclaim higher levels as selling pressure intensifies and fear continues to dominate market sentiment. After weeks of volatile price action, the market’s recovery attempts are being met with heavy resistance, with BTC still trading below key psychological levels.

According to data from Lookonchain, the well-known trader known as the BitcoinOG (1011short) — famous for shorting the market during the October 10 crash — is once again making headlines. On-chain data shows that the whale has started dumping BTC, triggering renewed anxiety among traders and investors.

This move has reignited debate across the community, as many analysts consider this trader part of the so-called “smart money” cohort — entities known for anticipating market shifts with high precision. While some interpret the whale’s activity as a sign of further downside ahead, others argue that such events often mark capitulation points where the market absorbs final waves of selling before rebounding.

With uncertainty rising and liquidity thin, Bitcoin’s next moves will be crucial in determining short-term sentiment. The coming days could decide whether this whale’s actions confirm another leg down — or signal the last shakeout before a broader recovery phase.

Whale Activity Intensifies: The BitcoinOG Moves Millions Across Exchanges

According to Lookonchain insights, the BitcoinOG (1011short) — the trader who famously shorted the market during the October 10 crash — is once again making major moves. Since the market downturn, this whale has deposited 5,252 BTC, worth approximately $587.88 million, into major exchanges including Binance, Coinbase, and Hyperliquid. At the same time, data shows his short position on Hyperliquid has grown to 2,100 BTC, valued at around $227.8 million.

This scale of activity has drawn intense attention from analysts, given the trader’s historical accuracy in predicting market tops. Depositing Bitcoin to exchanges often signals potential selling or hedging behavior, adding to the bearish tone currently dominating sentiment. Combined with the expansion of his short exposure, it suggests the whale could be positioning for further downside or protecting gains from earlier market moves.

However, several experts have urged caution in overinterpreting these transactions. On-chain visibility only provides a partial view — these may be just a fraction of the whale’s total holdings or broader strategy. It’s possible that some positions remain hidden across other derivatives platforms, wallets, or over-the-counter deals.

This uncertainty makes the whale’s behavior both intriguing and concerning. While retail traders often react strongly to such visible movements, seasoned analysts emphasize the need for broader context — including derivatives data, funding rates, and liquidity shifts.

Weekly Chart: Support Retest as Market Faces Key Inflection Point

The weekly Bitcoin chart shows the market struggling to hold above the $108,000 region, a critical short-term support level that aligns closely with the 50-week moving average (blue line). After the sharp drop following the October 10 crash, BTC attempted a rebound but failed to sustain momentum above $114,000, signaling persistent selling pressure near the $117,500 resistance — a level that has acted as both support and resistance multiple times over the past year.

The structure now suggests Bitcoin is in a consolidation phase within a broader bullish trend, but downside risks remain elevated. If the 50-week moving average fails to hold, the next potential support lies near $100,000, which aligns with the lower range of historical demand and the March 2025 breakout zone. A break below this region could accelerate selling momentum and confirm a deeper retracement.

Conversely, reclaiming $117,500 would signal renewed strength, opening the door for a potential retest of the $125,000–$130,000 range. Overall, Bitcoin’s weekly structure remains cautiously bullish, but sustained weakness around current levels would put the broader uptrend at risk — making the coming weeks decisive for long-term direction.

Featured image from ChatGPT, chart from TradingView.com

Crypto analyst Steph has presented an interesting comparison between XRP’s 2017 bull run and its current 2025 market structure in a post on the social media platform X. 

The post, which was captured with “The $XRP playbook,” noted a repetition of its early accumulation phase that preceded its massive breakout eight years ago. The technical analysis places 2017’s surge beside the altcoin’s ongoing consolidation around the $2 price level, predicting that the cryptocurrency could be entering a familiar setup for another explosive rally.

XRP Might Repeat The 2017 Blueprint

XRP’s price action in the past few days has been defined by the cryptocurrency looking to break past $2.5. This move comes off the back of a flash crash last week, which caused the altcoin’s price to create a strong downside wick on the daily timeframe. This downside wick, on the other hand, was a quick break to the downside amidst an its price consolidation that has been dragging on since July.

Interestingly, dialing the price action many years back shows XRP has played out a similar pattern like this before. Back in 2017, the token spent months trading sideways before springing into an extraordinary vertical rally that turned it into one of the best-performing cryptocurrencies of that bull cycle. 

This trend, which was also noted in a technical analysis post by STEPH IS CRYPTO on X, looks at the possibility of the token repeating this rally again. The left side of Steph’s chart captures the 2017 price action vividly: a slow accumulation in early March followed by an almost parabolic ascent that pushed the price from fractions of a cent to above $3 within months. 

The chart highlights how the upward curvature that began around February 2017 served as the launchpad for XRP’s historic surge. By framing this as the “playbook,” Steph implies that history could be on the verge of rhyming once more.

2025 Setup: The Calm Before The Storm

The right side of the chart image above shows XRP’s 2025 daily chart mirroring that 2017 accumulation curve. The token has been oscillating around mid $2 to form what looks like a rounded bottom pattern. The annotation points to November/December as the potential turning point.

Steph’s projected path shows the token consolidating between $2.5 and $3 for the next few weeks before entering a strong vertical climb. The projection shows XRP breaking above $3 and then going on a climb that takes it far above its current price levels. The projection line on the chart extends toward $24. This means if the 2017-style pattern repeats, the altcoin could experience an unprecedented price appreciation that brings its new price range above $20. 

Steph isn’t the first analyst to look at similarities to the playbook in 2017. A similar outlook from a crypto analyst known as ChartNerd predicted a breakout to $13.5 if XRP repeats the 2017 rally.

Tether has just minted another 1 billion USDT, only hours ago, reigniting debate over stablecoin-driven liquidity flows across the crypto market. The mint comes at a crucial time — Bitcoin is struggling to reclaim higher levels after weeks of volatility, while altcoins continue to bleed as if a full-blown bear market were underway.

These mints tend to inject liquidity into exchanges, providing the capital needed for traders and market makers to re-enter positions or stabilize volatile price swings. While not always an immediate bullish catalyst, they frequently precede recoveries in market sentiment and volume.

The latest mint follows a wave of renewed uncertainty across the crypto landscape, with investors closely watching Bitcoin’s $110K level as a make-or-break support zone. Altcoins, meanwhile, are experiencing double-digit declines, raising concerns that risk appetite remains weak.

If history is any indication, this new influx of stablecoin liquidity could be setting the stage for a short-term rebound — or at least a temporary relief rally — as liquidity begins to circulate across major exchanges and derivative markets in the days ahead.

A Liquidity Wave That Could Shake the Market

According to data from Lookonchain, Tether and Circle have collectively minted over $7 billion in stablecoins since the October 10 market crash. This surge in new supply marks one of the most significant liquidity injections since midyear, sparking speculation about its potential impact on Bitcoin and the broader crypto market.

Stablecoin mints on this scale often act as precursors to major price swings. While not a direct form of buying, they indicate that fresh capital is being positioned to enter the market — typically through market makers, institutional desks, or exchanges preparing for renewed trading activity. In this context, the $7 billion influx suggests that liquidity conditions are improving after the sharp drawdown that liquidated billions in long positions earlier this month.

Related Reading: 2,496 Bitcoin Moved After Years Of Inactivity – Long-Term Holders Take Action

However, such rapid capital movement can also heighten volatility. As this liquidity begins to circulate, it can amplify both sides of the market — first triggering relief rallies as buyers re-enter, and then sharp corrections as leveraged positions unwind.

For Bitcoin, the timing is especially critical. With BTC still struggling to hold above $108K–$110K, this new liquidity could determine whether the next move is a bullish breakout or another leg lower. Historically, large stablecoin issuances have preceded upward shifts in Bitcoin’s price, but in a fragile market, they can also fuel speculative whipsaws.

Tether’s USDT Dominance Rebounds As Traders Seek Stability

Tether’s market dominance has risen sharply to around 5.06%, signaling a notable shift in sentiment as investors move capital into stablecoins amid heightened market volatility. The weekly chart shows a strong rebound from the 4.6% level, with USDT dominance now testing resistance near the 100-week moving average. This uptick coincides with the broader crypto market downturn following Bitcoin’s failure to hold key support at $110K and widespread selling across altcoins.

Historically, rising USDT dominance reflects increased demand for safety — traders exiting volatile assets and parking capital in stablecoins to wait for clearer market direction. This pattern often precedes periods of accumulation, as sidelined liquidity builds up, ready to re-enter once confidence returns.

From a technical standpoint, the structure suggests that a sustained breakout above 5.2% could extend the dominance rally toward 6%, a level last seen during previous market corrections. However, rejection here would imply stabilization and potential capital rotation back into risk assets.

Featured image from ChatGPT, chart from TradingView.com

A crypto analyst believes that XRP investors are underestimating the importance of a recent announcement by Ripple’s Chief Executive Officer (CEO), Bradley Garlinghouse, which could have major implications for the crypto company. According to the analyst, Ripple’s acquisition of GTreasury, a global industry leader in integrated SaaS treasury, and Hidden Road, a financial powerhouse, could redefine the company’s strategy and strengthen XRP’s position in the global finance sector. 

The Big Announcement XRP Investors Are Overlooking

On Monday, A crypto analyst identified as ‘RiskzTake’ disclosed in an X social media post that most XRP investors have not fully grasped the significance of Ripple’s $1 billion acquisition of GTreasury. The analyst sees Ripple’s announcement as proof that XRP is evolving far beyond its original role as a cross-border payment currency. 

According to him, this new merger positions XRP at the centre of institutional capital movement, powering everything from currency swaps to investments, deposits, and more. He noted that the connection between XRP and institutional liquidity is now more solid than ever. Hidden Road’s involvement, which clears over $3 trillion annually, also provides the essential infrastructure needed to bring all the pieces together.   

Notably, Garlinghouse confirmed the GTreasury deal in an announcement on X, calling it the gateway into a $120 trillion corporate treasury payment market still dominated by outdated systems. He explained that legacy payment infrastructure tends to trap enormous amounts of corporate capital, stifling financial innovation, and this recent acquisition is designed to unlock said trapped liquidity. 

Furthermore, the Ripple CEO noted that GTreasury has been a long-time partner to some of the world’s biggest brands, and now aims to enhance corporate treasury operations by leveraging Ripple’s blockchain expertise to help CFOs integrate stablecoins, tokenized deposits, digital assets, etc. 

Hidden Road’s Role In Ripple’s Next Growth Phase

In an official press release, Ripple outlined its long-term vision for bringing digital assets into corporate treasury management. The company explained that GTreasury’s risk management expertise and established client base will combine with Ripple’s blockchain infrastructure to give corporations real-time control over liquidity and payments. 

With Hidden Road acting as a prime broker, companies will reportedly gain access to the multi-trillion-dollar global repo market, allowing them to use idle capital more efficiently. The acquisition will also enable 24/7, real-time global transactions, which will be faster, cheaper, and more transparent than ever. Together, Ripple and GTreasury plan to offer Fortune 500 treasuries new tools to manage various digital instruments, all backed by regulatory-grade compliance and blockchain-level transparency. 

According to GTreasury CEO Renaat Ver Eecke, the new merger reflects the treasury company’s shift from simply managing capital to deploying it, perfectly aligning with Ripple’s mission to modernize global finance. The deal also marks Ripple’s third major acquisition in 2025, following its purchase of Hidden Road and Rail.

Evernorth, a company backed by players close to Ripple, said it will go public through a SPAC merger that aims to build a large, public XRP treasury. Based on reports and regulatory filings, the deal would list the new company on Nasdaq under the ticker XRPN and raise more than $1 billion in gross proceeds.

Evernorth Teams With Armada Acquisition Corp II

According to filings, Evernorth has signed a business combination agreement with Armada Acquisition Corp II (AACI). The transaction is structured as a SPAC and is expected to bring in over US$1 billion before costs and possible shareholder redemptions.

Reports have disclosed that Japan’s SBI Holdings has committed US$200 million as an anchor investor. Other backers named in the filings include Ripple, Pantera Capital, Kraken, GSR, and Chris Larsen. Asheesh Birla will lead Evernorth as CEO and will step down from his seat on Ripple’s board.

I’m proud to share that we’ve launched @evernorthxrp, a first-of-its-kind institutional vehicle built to accelerate XRP adoption. With over a decade of uptime and a rapidly growing DeFi ecosystem, XRP is well-positioned for adoption — and Evernorth is built to meet that moment.… pic.twitter.com/2YGgQsNWCd

— Asheesh Birla | CEO at Evernorth (@ashgoblue) October 20, 2025

Ripple: Plans Focus On An Institutional XRP Treasury

The stated purpose is straightforward: buy XRP in the open market and hold it on the company balance sheet while seeking yield through lending and liquidity activities. Based on reports, Evernorth’s team describes the plan as creating the largest publicly traded institutional treasury of XRP.

That makes the move different from many crypto plays that simply build products; here the asset itself is the core holding to be managed and reported publicly.

Market Reaction

Markets reacted quickly. XRP saw noticeable price swings after the announcement as traders and funds repositioned their exposure. Details in the filings show that the final amount available for XRP purchases will depend on redemptions and transaction costs, which could significantly affect the company’s buying power.

Evernorth is also expected to outline its custody and risk management framework, given the volatility associated with large token holdings. These aspects are critical since concentrated ownership can influence market movement and expose the firm to sharp changes in asset value.

Reports show the deal targets a close in Q1 2026, subject to shareholder votes and regulatory approvals. The company will need to satisfy Nasdaq listing rules and complete standard SPAC closing steps.

Some of the investors involved have long ties to Ripple and the wider crypto market, and those ties are being watched closely by regulators and market participants. The governance arrangements will be a focal point for anyone considering buying XRPN shares.

Featured image from Pexels, chart from TradingView

On Wednesday, several crypto industry CEOs participated in a roundtable discussion with Senate Democrats. The discussion focused on the Market Structure bill and the Democratic Party’s request for specific provisions in the GENIUS Act, which has already been signed into law by President Trump.

However, sources cited by market experts indicate that tensions escalated during the meeting, leading to a heated exchange between one senator and the crypto executives.

Tensions Flare Between Senator Gallego And Crypto CEOs

According to crypto reporter Eleanor Terret, the meeting began with 30 minutes of introductions from industry leaders, where attendees shared “top-level highlights” they hoped to see reflected in the Market Structure bill. 

The senators collectively expressed their commitment to advancing the legislation, emphasizing that there would be “no slow walking” and acknowledging that even Republicans have concerns regarding the current draft.

However, sources within the meeting reported that Senator Gallego representing Arizona became particularly agitated, telling the crypto CEOs: 

I’m really fucking pissed about what happened last week. Don’t be an arm of the Republican Party. They used you all and your megaphones to fuck us.

Banking Advocates Push For Stricter Stablecoin Regulations

Adding to the discussion, Senator Kennedy remarked during a GOP lunch that lawmakers need to carefully consider the banking industry’s concerns regarding market structure changes. 

“The bankers are worked up, OK? And you better take them serious as four heart attacks and a stroke,” he stated. While Kennedy did not specify the exact concerns, banking advocates have been actively pushing for stricter limits on yields and rewards for stablecoins.

In response, the crypto industry has launched a public campaign advocating for the existing laws to remain intact under the GENIUS Act.

As this situation develops, it remains to be seen how the crypto CEOs will respond and what the future holds for these bills once the government shutdown concludes.

Featured image from DALL-E, chart from TradingView.com 

Despite the ongoing wave of bearish price action for Cardano (ADA), the token appears to be attracting a notable amount of adoption and attention. Large capital is currently being moved in the leading network and altcoin, particularly from institutional players.

Are Institutions Betting Big On Cardano?

Lately, Cardano is experiencing a fresh influx of capital as the market continues to fluctuate. These massive capital inflows, which are coming from institutional investors, mark one of the most crucial turning points in its market dynamics and trajectory.

Specifically, the growing institutional activity is confirmed in the average transaction size being executed on the blockchain. Mintern, the Chief Meme Officer (CMO) of Minswap and market expert, highlighted that the network’s average transaction amount has increased to over $100,000 in the past 30 days.

According to the meme officer, the large transaction size points to aggressive accumulation from institutional investors or whales. As big investors move more money to ADA, the blockchain‘s reputation as a safe, scalable, and regulatory-friendly network is being further validated. 

What this development implies is that confidence in Cardano’s long-term potential is growing. Meanwhile, such a surge in institutional participation underscores the network’s position as a leading contender in the broader and ever-evolving blockchain landscape. Historically, whales’ movements have played a crucial role in price upswings, raising questions about whether smart money investors are positioning ahead of a breakout. 

ADA has displayed notable bullish performance this cycle when compared to other major crypto assets. In another X post, Mintern has shared a chart showing that ADA is now more bullish than Bitcoin, Ethereum, and Solana. 

Cardano is one of the top-ranked assets in the CoinDesk 20 Index, surpassing the three crypto giants following its 6.8% price increase in the last 3 days. Should the altcoin maintain its current momentum, it is likely to trigger its next breakout moment to previous highs. 

Lark Davis foresees a potential 60% surge, as ADA is about to print a daily MACD golden cross below zero. His prediction hinges on a past scenario when this signal spurred a 60% upward increase. While it gears up for the spike, Davis noted that ADA must break past a resistance zone around $0.74 to $0.77. Furthermore, the altcoin must break above a downward resistance line that began in August.

The Blockchain Dominates In Terms Of Community Support

Cardano’s position as the leading blockchain in the crypto sector is also reflected by its strong user base and community support. After its research, TapTools disclosed that the network has moved to the second spot in community support globally, a clear sign of its fast-growing active user base.

Currently, the network is ahead of Bitcoin in this metric. Fueled by developers, stakers, and enthusiasts who are committed to driving innovation within the ecosystem, Cardano’s bullish votes are positioned at 88%. With this high positive support, the blockchain is backed by one of the strongest and most confident communities in the landscape.