It was a defining week for Bitcoin and beyond.
From Trump’s bold promise to make the US a “Bitcoin superpower” to the XRP ETF countdown, crypto is back in the spotlight after a rocky few weeks. Missed the biggest moves? Here’s your quick overview.
#1 Trump promises to make America the ‘Bitcoin superpower’
President Donald Trump says he wants to make the United States “the Bitcoin superpower.” Speaking at the America Business Forum in Miamihe claimed that his government was putting an end to Washington’s “war against crypto” and called digital assets the key to strengthening the dollar.
‘It takes a lot of pressure off the dollar’ he said. Trump warned that countries like China are leading the way in cryptocurrency adoption. The US must act quickly or risk falling behind.
#2 Lummis revives the push for a US Bitcoin reserve
Senator Cynthia Lummis is once again pushing the idea of a strategic Bitcoin reserve to help manage rising US debt. She said Bitcoin could act as a long-term asset that strengthens the country’s balance sheet. Lummis praised President Trump for his support of the proposal and said she would like to see it completed.
Treasury officials are reportedly exploring options beyond gold revaluation, while discussions are ongoing at both the Treasury Department and the White House on how to build the reserve responsibly.
#3 The XRP ETF countdown begins as major asset managers enter the market
The XRP ETF race is gaining speed. Franklin Templeton, Bitwise and Canary Capital have filed new S-1 updates with the US SEC, indicating that spot XRP ETFs could go live as early as mid-November.
During the Ripple’s Swell event, Canary CEO Steven McClurg said: “We are ready to launch the XRP ETF next week.” The companies have dropped the usual deferment clause, following the recent Solana and Litecoin ETF strategy. For Ripple followers, the long-awaited Wall Street debut seems closer than ever.
#4 Canada, UK Race to set clear Stablecoin rules
Canada and Britain are moving quickly to bring stablecoins under formal regulation. Canada’s 2025 federal budget outlines strict rules for fiat-backed tokens, including reserve standards and data protection.
Meanwhile, the Bank of England says it will roll out its stablecoin framework “as quickly as the US”, focusing primarily on systemic coins. Both countries want to modernize payment transactions and increase confidence in digital money.
#5 Saylor’s strategy leverages the Euro market to finance more Bitcoin purchases
Michael Saylor’s strategy turns to Europe for its next Bitcoin push. The company filed to offer Euro-denominated STRE shares worth EUR 3.5 million to raise funds for more Bitcoin purchases and general use. Each share has an annual dividend of 10%, which increases if not paid.
Analysts say the strategy model remains strong despite recent stock dips. Bitcoin expert Willy Woo added that the company is unlikely to face liquidation given its flexible debt terms and stable position as the world’s largest Bitcoin holder.
#6 ZEC jumps back into the top 20 as privacy coins gain momentum
Zcash (ZEC) has made a powerful comeback, rising above $600 for the first time since 2019 and returning to the top 20 crypto.
The privacy-focused token is up 1,270% year-over-year, with trading volume surging above $1.8 billion at Binance, Hyperliquid, and Bybit. Renewed interest in the privacy infrastructure, new upgrades from the Electric Coin Company, and the growing use of the Zashi wallet are driving this increase.
#7 Musk teases SpaceX’s DOGE-1 launch
Elon Musk has once again turned the spotlight on Dogecoin. On November 3, he posted a short tweet: “It’s time,” reviving his 2021 promise to put a literal Dogecoin on the literal moon. The mission, called DOGE-1, is fully funded with Dogecoin and will fly on a SpaceX Falcon 9 later in 2025.
Musk’s tweets have often sent the meme coin soaring, and his latest has fans hoping for another lift.
#8 FTX withdraws controversial refund rule after pushback
FTX has withdrawn a proposal that could have prevented thousands of users from getting their money back. The plan, called the Restricted Jurisdiction Procedure, would have blocked refunds in 49 countries, including China, Russia and Saudi Arabia. Creditors from China led the protest, arguing the rule was unfair and discriminatory.
The proposal covered nearly $800 million in claims, or about 5% of total reimbursements. After days of backlash, FTX reversed the decision, giving hope to users who have been waiting since the 2022 collapse.
This might interest you: SBF says FTX has never been insolvent
#9 Mamdani’s victory could change the way New York handles crypto
Zohran Mamdani’s victory in New York City’s mayoral race could reshape the city’s stance on cryptocurrency. Known for supporting consumer protections and stronger oversight following the collapse of the FTX and Terra, Mamdani has also backed a moratorium on proof-of-work mining and a proposed crypto transaction tax.
Although his power over the sector is limited, his approach signals a more difficult environment for digital assets in the city.
#10 Ripple partners with Mastercard, Gemini and WebBank
Ripple is taking another big step toward merging crypto with everyday finance. At the Ripple Swell 2025 event in New York, the company announced a partnership with Mastercard, Gemini and WebBank to use its RLUSD stablecoin for payments on the XRP Ledger.
This would allow Gemini credit card transactions to be processed through RLUSD instead of traditional banks. Ripple President Monica Long called it a “meaningful step” to show how blockchain and regulated finance can work together for faster, more secure payments.
In the spotlight
Here are some quick hits you shouldn’t miss!
Japan Becomes the 11th Nation to Join the State-Backed Bitcoin Mining Race: The government launched a 4.5 megawatt project using excess renewable energy, marking the first official step towards Bitcoin production nationally.
Samourai Founders Targeted by DOJ in Tornado Cash-Style Crypto Privacy Crackdown: US prosecutors are looking prison sentences of five years for Keonne Rodriguez and William Hill, accused of laundering $230 million through their Bitcoin privacy app.
The Central Bank Takes Enforcement Action Against Coinbase Europe Over Anti-Money Laundering Failures: Irish regulator imposed a €21.4 million fine on the exchange after 30 million transactions worth €176 billion went unaudited, citing major deficiencies in AML and CFT systems.
Kazakhstan to Launch a $1 Billion Crypto Reserve Fund by 2026: The government plans a state-run fund backed by seized assets and mining revenues, investing through the Astana hub while limiting direct exposure to cryptocurrencies.
Wintermute says crypto market recovery depends on ETF and DAT inflows: The company says new capital is moving into equities and AI, leaving digital assets dependent on ETF and decentralized token demand for a rebound.
What’s next for Crypto?
Major shifts we can expect in the future
- With XRP ETFs on the brink of approval, the next wave of institutional inflows could improve market sentiment through November.
- Canada and Britain’s new stablecoin frameworks are likely to trigger similar moves in other major economies.
- The participation of Japan and Kazakhstan shows that participation in sovereign Bitcoin is becoming a global trend.
- Coinbase’s fine and the DOJ actions point to stricter scrutiny of future exchanges and privacy tools.
- Partnerships like Ripple-Mastercard and new stablecoin pilots indicate that blockchain is moving from hype to practicality.
It’s a turning point for the industry: less speculation, more structure and a clearer path forward. Stay tuned for next week’s recap!