Coin360 Weekly Dispatch | Crypto Market Updates & Highlights | October 26 - November 1, 2025

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Crypto Weekly Recap

Total crypto market cap: $3.66T

Crypto Fear & Greed Index: 33 (Fear)

BTC.D: 59.84%

Bitcoin:

• Weekly performance: -1.26%
• U.S. Spot BTC ETFs: -$799M 
• After celebrating Bitcoin Whitepaper day, Bitcoin closed the first red October in 7 years with a -3.69% return. 
• Weekly extremes: high of ~$115,960 (Oct 27) and a low near ~$106,950 (Oct 30) as the market reacted to central-bank messaging and U.S.-China trade deal progress.
• The Federal Reserve cut rates by 25 bps on Oct 29, but Chair Jerome Powell’s hawkish tone (December rate cut is "not a foregone conclusion") spooked risk assets.
• With the Fed doing what was expected, the real driver was guidance: markets saw less clarity on future easing, triggering unwind in BTC and other risky assets.
• U.S.–China announced "significant progress" toward a limited tariff rollback and soybean import resumption during President Trump’s Seoul visit.
• Cross-asset intersect: while the S&P 500 climbed to 6,900 for the first time in history and DXY saw a 0.88% weekly increase to 99.72, BTC under-performed; gold also pared back gains, showing risk-on momentum was stalling rather than expanding.
• Around Oct 30, crypto markets saw $1.1B in long liquidations, mostly BTC perpetuals, after leverage built up from the earlier rally.

Ethereum:

• Weekly performance: -1.74%
• U.S. Spot ETH ETFs: +$16.1M
• Ether ended October at a 7.02% loss.
• ETH is trading near $3,882 after peaking at $4,251 early Oct 27 and bottoming at $3,681 Oct 30 amid broad risk-off momentum following the FOMC decision.
• ETF and fund rotation favored Solana, whose new ETFs still drew small inflows even as ETH/BTC funds recorded net outflows.
• Prediction markets cut odds of a December rate cut from 97% to ~66%, cooling macro-driven bullish sentiment across risk assets.
• Stablecoin supplies remained flat, showing no panic rotation into cash despite outflows — risk moderation, not capitulation.
• Oct 30’s $3,680 low became technical support, where both ETF redemptions slowed and perps saw short-covering; the $3,900-4,000 zone now defines near-term resistance.
• Ethereum devs locked main-net activation of the Fusaka hard fork for December 3, implementing ~12 EIPs (including PeerDAS and a block gas-limit jump from ~30M to 150M) to boost L2 throughput and validator efficiency.

Others:

• U.S. Spot SOL ETFs (excluding seed): +$199.2M
• Japan unveiled a fully regulated yen-backed stablecoin JPYC, aiming for $65–70 billion issuance by 2028.
• Ant Group’s “ANTCOIN” trademark signaled a quiet return to Hong Kong’s stablecoin arena.
• AWS and Microsoft cloud outages caused market confusion despite conflicting official statements.
• JPMorgan’s Kinexys blockchain completed the first tokenization of a private-equity fund, expanding institutional adoption.
• Tether became a major U.S. debt holder with $135 billion in Treasuries, earning over $10 billion annually.
• Metaplanet launched a share buyback program to address declining mNAV.
• ZEC surpassed its 2021 peak as privacy bets rose but trailed DASH in weekly returns.
• Sharplink deployed $200 million in ETH on Linea to unlock DeFi yields.
• Polymarket prepared a U.S. launch by late November as sports betting became a key focus.
• Securitize announced plans to go public via a $1.25 billion SPAC deal.
• Visa added support for four stablecoins across four blockchains.
• 21Shares filed for a Hyperliquid ETF as new crypto funds entered the market.
• KRWQ launched as the first Korean won stablecoin on Base.

Mt. Gox Extends Repayment Deadline to 2026, $4 Billion in Bitcoin Still Frozen

The Mt. Gox rehabilitation process faces another setback as the repayment deadline is extended to October 31, 2026, due to incomplete procedures and technical delays. About 34,689 BTC, valued at ~$4 billion, remain frozen, while most early repayments have been completed. Since its 2014 collapse, roughly 107,000 BTC has been distributed to verified creditors. Analysts warn that future distributions could impact market liquidity and Bitcoin prices, with approximately 22,000 BTC potentially re-entering circulation. Coordination with exchanges continues as creditors prioritize retaining their recovered assets, highlighting ongoing concerns over the market's stability amidst the prolonged waiting game.

Bitwise Solana ETF Launch Shatters Records with $338.9M in Assets Amid SEC Gridlock

Bitwise launched its Solana ETF (BSOL), achieving a record $338.9 million in total net assets after $69.5 million in first-day inflows and $57.9 million in trading volume. Grayscale followed with a staking-enabled Solana ETF (GSOL), while Fidelity announced its own staking fund, leveraging Coinbase Custody. Canary Capital also launched parallel ETFs for Litecoin and Hedera, collectively generating $65 million on day one. Despite a 6% dip in Solana's price, the ETF influx marked a significant shift in institutional interest, indicating a robust demand for diversified, yield-generating blockchain assets beyond Bitcoin and Ethereum.

ConsenSys Aims for 2026 IPO with JPMorgan and Goldman Sachs, Valued at $7 Billion

ConsenSys, the Ethereum infrastructure firm behind MetaMask, is preparing for an initial public offering (IPO) with JPMorgan and Goldman Sachs as lead underwriters, targeting a debut no earlier than 2026 after a $7 billion valuation. Following favorable regulatory shifts and growing institutional interest in crypto infrastructure, the company aims to attract mainstream capital while maintaining its decentralized ethos. Its core businesses include MetaMask, Infura, and Linea, which connect developers and enterprises to Ethereum. The IPO could mark one of the largest by a crypto-native software firm, indicating the maturation of decentralized technology within global capital markets.

Trump Media Launches Truth Predict: First Prediction Market on Social Media in Partnership with Crypto.com

Trump Media has introduced "Truth Predict," a first-of-its-kind integrated prediction market on Truth Social in partnership with Crypto.com Derivatives North America. This feature will allow users to trade contracts tied to political elections, sports results, and economic events. Users can convert “Truth gems” into Cronos (CRO) to participate. Trump Media, which holds over $3 billion in assets and reported its first positive cash flow since going public, aims to merge social engagement and market speculation. Regulatory hurdles remain, but the initiative positions the platform at the intersection of social media and finance, potentially redefining online economic participation.

Mastercard Acquires Crypto Infrastructure Startup Zerohash for Up to $2 Billion

Mastercard has announced its acquisition of crypto infrastructure startup Zerohash for up to $2 billion, marking a strategic shift from merely facilitating crypto payments to owning stablecoin and tokenization infrastructure. Founded in 2017, Zerohash aids banks and fintechs in compliance and digital-asset services. The deal aligns with Mastercard’s stablecoin initiatives and strengthens regulatory frameworks, offering a gateway to compliant crypto operations. Zerohash's last valuation was $1 billion, and the acquisition includes performance-based payouts. This move signals a transition for Mastercard, positioning it at the forefront of integrating traditional finance with blockchain technology.

Western Union to Launch USDPT Stablecoin on Solana in 2026, Files WUUSD Trademark

Western Union is set to launch its U.S. dollar-backed stablecoin, USDPT, on the Solana blockchain in the first half of 2026, aiming to enhance its remittance services across 200 countries. This initiative will integrate Anchorage Digital Bank's regulated issuance for compliance. A trademark for “WUUSD” was filed, suggesting a public-facing brand for the stablecoin. The stablecoin market, valued at approximately $312 billion, may reach $750 billion by 2026. Western Union's strategy positions it competitively against blockchain-native firms, leveraging its extensive network and digital wallet transactions, which have already surpassed half of its total digital volumes.

Citi and Coinbase Collaborate to Launch 24/7 Stablecoin Payment Infrastructure for Institutions

Citi has partnered with Coinbase to create stablecoin payment infrastructure for institutional clients, aiming for faster, cheaper, 24/7 cross-border settlements. This collaboration addresses the demand for efficient, programmable payments, leveraging Citi’s institutional strength and Coinbase’s digital asset expertise. It builds on previous initiatives, including Citi’s Integrated Digital Assets Platform and comes after the passage of the “Genius Act,” which clarifies regulations around stablecoin transactions for banks. While rollout dates remain undisclosed, the focus is on integrating fiat pay-ins and pay-outs initially, marking a significant step in the evolution of digital asset payments in the banking sector.

Circle Unveils Arc Public Testnet with 100+ Institutional Participants Including BlackRock and Visa

Circle has launched the public testnet for Arc, its new Layer 1 blockchain aimed at establishing an "Economic Operating System" for global financial activities. Over 100 institutional participants, including BlackRock, Visa, AWS, Goldman Sachs, and Anthropic, are involved in its development. Arc offers features like predictable dollar-based fees, sub-second finality, configurable privacy, and uses USDC as its native gas token for real-time payments and tokenized asset issuance. The roadmap includes expanding validator participation and creating transparent governance frameworks to transition Arc towards community-driven operation, positioning it as a significant player in modern financial infrastructure.

MetaMask Launches Multichain Accounts for EVM, Solana, and Upcoming Bitcoin Support

MetaMask has introduced multichain accounts, allowing users to manage EVM, Solana, and soon Bitcoin addresses from a single account, streamlining wallet management. This update, available by default on MetaMask Mobile 7.57 and Extension 13.5, reduces the need for account switching and facilitates seamless cross-network activities. Utilizing the BIP-44 standard, it organizes multiple accounts linked to one recovery phrase. Additionally, speculation regarding a potential MASK token launch has intensified following the appearance of a claims site and comments from Consensys CEO Joe Lubin, coinciding with the rollout of MetaMask Rewards Season 1, enhancing user engagement further.

Kyrgyzstan Launches BNB-Backed Stablecoin as Trump Pardons CZ, Paving Binance’s Return to U.S.

Kyrgyzstan launched the KGST stablecoin on BNB Chain and began pilot testing its digital som CBDC, with Binance’s former CEO CZ advising its crypto strategy. BNB was added to national reserves, and Binance Academy partnered with 10 Kyrgyz universities to expand blockchain education. Meanwhile, after receiving a pardon from Donald Trump for AML violations, CZ reportedly announced plans to re-enter the U.S. market, consolidating Binance.US into the global exchange. This move follows Binance’s $2B deal with Trump’s family crypto firm, triggering political backlash over corruption concerns, despite BNB surging 8% post-pardon.