It was a defining week for crypto. From SBF’s latest attempt to reshape its own history to PayPal’s entry into the AI-powered payments space, the headlines have been interesting.
If there was one thing that stood out this week, it is that crypto is entering a more mature phase and starting to fulfill its role as a financial disruptor. Missed something? We’ve got you!
Dive straight in for the biggest stories.
#1 SBF claims that FTX has never been insolvent
Sam Bankman-Fried is in the news again, insisting that the FTX collapse in 2022 was not due to insolvency, but to bad decisions. In a new 15-page statement, he claimed the exchange held $25 billion in assets, enough to pay back users, before lawyers and new CEO John J. Ray III “forced” FTX into bankruptcy to turn a profit.
He also claimed that nearly $1 billion in fees had been paid, while assets worth billions were lost. However, court records revealed that Alameda secretly used customer funds, leading to the $8 billion deficit.
#2 Mount Gox pushes refunds to 2026 as delays continue
The long wait Mountain Gox creditors is not over yet. Trustee Nobuaki Kobayashi extended the repayment deadline to October 31, 2026, citing unfinished procedures and verification delays. Many creditors are still waiting for restitution more than ten years after the stock market collapse in 2014.
Previous refunds only covered verified claims, leaving thousands in the dark. Recent blockchain activity, including a $1 billion Bitcoin transfer in March, has fueled new speculation about how and when the remaining funds will ultimately be moved.
#3 Bitcoin white paper turns 17
Seventeen years ago, an anonymous name, Satoshi Nakamoto, shared a short paper that changed the way the world looks at money. On October 31, 2008, the Bitcoin: a peer-to-peer electronic cash system White paper introduced the idea of a decentralized digital currency.
What started as a technical proposal is now a multi-billion dollar industry and a global movement. The nine-page document laid the foundation for blockchain technology and a new era of financial freedom that continues to unfold today.
#4 Beijing holds the cards while Trump eases trade pressure
The meeting between Trump and Xi ended with Washington pulling back on its trade pressure, while Beijing barely blinked. The US agreed to cut a fentanyl-related tariff by 10% and delay new ones, while China extended its pause on rare earth export controls – a move experts say will keep the country in check.
‘It’s more like our surrender’ wrote Nicolaas Kristof in The New York Times. Trump called the meeting “great,” but Beijing’s cautious response hinted at who would actually emerge stronger. For crypto markets, the thaw could signal a possible increase in risk appetite.
#5 Bybit pauses new user signups in Japan
Bybit has stopped accepting new user registrations in Japan as of October 31 as it tries to comply with regulatory requirements from the Financial Services Agency. The pause, which applies to both private individuals and companies, will not affect existing users for the time being.
The Japanese regulators have become more vigilant towards unregistered exchanges, leading to tightening of crypto laws over the past year. Interestingly, even as growth in Japan slows, Bybit has secured a full license in the UAE, strengthening its position as a compliant global exchange.
#6 Hoskinson mocks Schiff’s track record on Bitcoin prices
Cardano founder Charles Hoskinson has taken aim at gold supporter Peter Schiff, saying his Bitcoin predictions have been wrong time and time again. In a post on X, Hoskinson addressed Schiff’s constant bearish calls “markets no longer moving” and notes that it has been away at every major price point – from $100 to $100,000.
Schiff recently claimed that Bitcoin remains more than 10% below its all-time high, calling it “a speculative asset.” Hoskinson fired back, saying Schiff’s model has failed four times.
#7 Shiba Inu gets first US ETF nod
Shiba Inu has taken a big step towards Wall Street. T. Rowe Pricea global investment firm managing more than $1.7 trillion has filed a Form S-1 with the SEC to launch its Active Crypto ETF. The fund will track major digital assets including Bitcoin, Ethereum, Dogecoin and Shiba Inu.
If approved, it would be the first US ETF to include SHIB, giving institutional investors regulated exposure to the token. This move adds new credibility to the growing Shiba Inu ecosystem.
Fight Fight Fight LLC, the company behind the TRUMP token, is in talks to buy the US arm of Republic.com, Bloomberg reports this. This move could give the token greater real-world use, allowing investors and startups to trade crypto directly.
Republic.com, backed by the venture arm of Galaxy Digital and Binance, has supported more than 3,000 fundraisings. If the deal goes through, it could be an important step in bringing the Trump memecoin into the mainstream financial sector.
Also read: After 13 million tokens and a 90% decline, are Meme Coins finally ready?
#9 JPMorgan’s Dimon is warming up to Blockchain
JPMorgan CEO Jamie DimonLong known for its tough stance on Bitcoin, blockchain is finally giving some credit. Recently, Dimon said that stablecoins and JPMorgan’s internal blockchain systems could have real value in the modern financial world.
“This technology could replace many of today’s outdated systems – slow, fragmented and far from 24/7.” he noted. Still, Dimon emphasized that decentralization makes coordination difficult, which is why JPMorgan continues to build on its private blockchain.
#10 Western Union files trademark ‘WUUSD’ after unveiling Solana Stablecoin
Western Union steps further into the crypto space. Just a day after announcing its Solana-based stablecoin USDPT, the company has filed a trademark for “WUUSD.” The filing covers wallet software, payments and trading services, suggesting a broader plan for digital assets is in the works.
Analysts say stablecoins could reduce settlement costs and speed up cross-border payments – a potential game-changer for money transfer markets.
Read more: How did the Bitwise Solana ETF perform compared to Bitcoin and Ethereum?
In the spotlight
Here are some quick hits you shouldn’t miss!
PayPal partners with OpenAI for ChatGPT Shopping: The connection allows direct checkout in the chatbot, allowing users to browse and purchase products seamlessly. It also hints at PayPal’s growing digital focus and possible future connections between them AI payments and crypto.
Ethereum’s Fusaka hard fork set for December 3: The upgrade will increase scalability and efficiency with PeerDAS and a higher gas limit, marking a new milestone The development of Ethereum.
KRWQ becomes the first Korean won-based stablecoin: IQ and Frax launched the fiat-backed token based leveraging LayerZero’s technology, bringing the Korean won on-chain with cross-chain transfers and plans for full regulatory compliance.
CZ Statue Memecoin crashes 99% after founder’s warning: The “czstatue” token rose 27,000% before collapsing after CZ told its followers: “Don’t buy the meme.” More than 1,100 holders suffered losses because the contract was labeled a honeypot.
Chinese man arrested in Bangkok for $14 million crypto fraud: Thai police arrested Chinese National Liang Ai-Bingaccused of running the FINTOCH Ponzi scheme that defrauded nearly 100 investors. The arrest followed cross-border cooperation with Chinese authorities.
What’s next for Crypto?
Major shifts we can expect in the future
- Market confidence is slowly returning as big names like PayPal, Western Union and JPMorgan deepen their crypto and blockchain ties.
- Stablecoins are entering a new phase of legitimacy with global launches and upcoming regulations.
- Asia’s growing dominance, from Seoul to Beijing, continues to shape the next wave of crypto infrastructure and adoption.
- AI and blockchain are beginning to merge, signaling a new frontier for payments and commerce.
- After a volatile October, November could bring more stable sentiment as regulations, technology and utilities finally start to align.
Momentum, regulation and innovation are finally moving in the same direction. This is an exciting phase for the market. Check back next week for another edition of Coinpedia Digest!