The Incrypted editorial team has prepared for you another digest of the most important events in the field of Web3 and AI. In it we will tell you about the new steiblcoin from Western Union, revelations of the former CEO of FTX exchange Sam Bankman-Fried, crypto market fluctuations due to macroeconomic factors and much more.
Top News
Bitcoin
The asset had a relatively good start at the beginning of the week, which was facilitated by the de-escalation of the trade war between the United States and China. However, on October 29-30, the exchange rate fell below $107,000 in the moment. This was due to a hawkish speech by Fed Chairman Jerome Powell.
It later partially recovered as US President Donald Trump announced that his talks with Chinese President Xi Jinping were fruitful. Further, the asset traded sideways. At the time of writing, its price is $110,399.
As for October as a whole, the asset closed the period with a drawdown of 3.7%, for the first time since 2018.
- Expert Opinions and Forecasts
Despite the seemingly strong positive momentum in the form of a Fed interest rate cut, bitcoin and the crypto market as a whole marked a drawdown. CryptoQuant experts attributed this to weak demand from institutional investors, which was unable to absorb the free supply formed due to “selling on the news.”
Glassnode noted that bitcoin tested the level of the base value of 0.85. Further movement in the short term will determine the subsequent trend — growth or drawdown in case of loss of this level.
- DAT News
There was a lot of news in the treasury companies (DAT) segment this week. In particular, French company Sequans, which switched to a bitcoin reserve management strategy in the summer of 2025, moved some assets to the Coinbase Prime platform for the first time. This could be either a rebalancing or a sale.
Bitcoin miner American Bitcoin continued to add to its portfolio. The company bought 1,414 BTC for about $163 million.
Strategy (formerly MicroStrategy), the largest corporate holder of the first cryptocurrency, reported Q3 2025 net income of $2.8 billion. Its bonds also received a credit rating from S&P Global Ratings. It is the first bitcoin reserve management firm to be so rated.
According to experts at 10x Research, Strategy could very well be in the S&P 500 index by the end of 2025 if it continues to show favorable financial results.
Also this week, Bitplanet, a publicly traded company from South Korea, announced plans to accumulate 10,000 BTC. It will buy its first cryptocurrency daily as part of this strategy.
Another Asian DAT, Metaplanet, announced a share buyback program as part of its efforts to increase the return on its first cryptocurrency infusion. In this way, the firm plans to increase the premium of its securities.
- Bitcoin Internationally
In France, the UDR party led by Eric Ciotti has introduced a cryptocurrency bill that proposes, among other things, the formation of a bitcoin reserve of 420,000 BTC.
Also in Germany, the opposition AfD party introduced a resolution to recognize bitcoin as a strategic asset. This involves deregulating the asset, easing the tax burden and, potentially, including the first cryptocurrency in foreign exchange reserves.
Ethereum
- How has the Price of the Asset Been Changing?
In general, the price chart of the asset on the weekly chart follows that of bitcoin. However, unlike the first cryptocurrency, Ethereum recovered from the fall on the background of Powell’s speech only partially, after which it traded sideways.
At the time of preparation of the material, the asset is trading at $3,863:
October was also negative for Ethereum. The asset closed the period with a 7% drawdown.
- Preparing for Fusaka Rollout
On October 28, 2025, the hardfork was activated on the Hoodi test network. This is the final stage before deploying the update to the mainnet, which is scheduled for December.
- Why did Ethereum Not Recovered?
According to Santiment experts, it is due to the behavior of investors. There are signs of panic among them, and the high concentration of long positions historically indicates a downward correction.
Crypto Funds
- Situation in the Segments of Spot Bitcoin- and Ethereum-ETFs
Between October 20 and October 25, 2025, both categories of exchange-traded funds showed signs of positive dynamics, despite the fact that the second position recorded a loss of funds. These products closed the week with inflows of $446.36 million and outflows of $243.91 million respectively.
- Spectacular Launch of New Products
Earlier in the week, it was reported that several new spot cryptocurrency ETFs will enter the market on October 28 and 29, 2025. These are funds based on Solana, Hedera and Litecoin. The information was later confirmed by one of the providers, Bitwise.
On the first day, the company’s product — BSOL — showed a trading volume of almost $58 million, which exceeded experts’ expectations. LTCC and HBR from Canary Capital showed less impressive results.
On October 29, spot Solana-ETF from Grayscale Investments debuted. The company converted a previously created closed-end trust into it. According to the firm’s experts, this category of exchange-traded funds can accumulate up to 5% of an asset’s supply.
- Toncoin-based ETP
This fund was launched by CoinShares on the SIX exchange under the ticker CTON. Representatives of the company believe that The Open Network combines technical efficiency with Telegram’s user base of over 900 million users. The product also provides for asset-stacking capabilities.
Regulation of the Sphere
- Blocking of Bank Accounts in Ukraine
Earlier this week, the Ukrainian press reported that the country is seeing an increase in the number of cases of bank account blocking due to transactions with crypto assets. Counterparties are tracking certain markers for this and may not even notify clients.
- The US Treasury Department has Narrowed Down the List of Candidates to be the Next Fed Chief
Among them is cryptoasset supporter Michelle Bowman. They have previously supported policy easing and regulation of stablecoins. The likely candidate among the contenders will probably be presented in January 2025. Current Chairman Jerome Powell will hold his position until May 2026.
- Work Continues on the Framework Bill in the US
The shutdown continues in the US as Democrats and Republicans have failed to agree on a temporary measure to fund the government. Despite this, the Senate is still working on a framework bill for the crypto market. Republicans believe it could be passed by the end of 2025.
AI News
- Grokipedia
This week, billionaire Ilon Musk unveiled his new project, Grokipedia. It is an analog of Wikipedia, an electronic encyclopedia, but with the difference that the work of the editor in it is performed by AI.
- The Upcoming IPO of OpenAI
According to Reuters, OpenAI, developer of chatbot ChatGPT, may conduct an initial public offering (IPO) in the second half of 2026 at a valuation of $1 trillion.
This was made possible after the company completed its transformation into a for-profit company with the separation of the non-profit entity.
- Character.ai Has Imposed Restrictions on Minors
From November 25, 2025, users under the age of 18 will lose access to open chats on the platform. A separate resource with authorized content will be created for them. The company took such a step amid lawsuits from parents of teenagers.
Western Union Plans to Launch its Own Stablecoin
The asset called US Dollar Payment Token (USDPT) is expected in the first half of 2026. Experts believe that the participation of such a large company in the sector may lead to an influx of liquidity and growth of its capitalization. Prior to that, the press reported that Western Union is testing different solutions based on stablecoins.
Nvidia has Become the World’s First Company With a Market Capitalization of Over $5 trillion
The company reached this mark on October 29, 2025. And over the past three years, Nvidia’s stock price has increased 12 times. This underscores the company’s transformation from a chip maker to a key AI player.
Media: Consensys Plans IPO with JPMorgan and Goldman Sachs Participation
Another contender for a US IPO is MetaMask wallet developer Consensys. The company did not confirm this directly, but indicated that they are exploring different options.
The Fed Lowered the Interest Rate for the Second Time in a Row
On October 29, the Federal Reserve lowered the interest rate by 0.25%, to a range of 3.75%-4%. Despite this, the crypto market reacted with a drop as Fed Chairman Jerome Powell announced during the speech a possible shift to a more neutral policy. As a result of the correction, daily liquidations exceeded $820 million.
Sam Bankman-Fried Revelations
This week, SBF’s X page published a document dating back to as early as late September 2025. In it, the former FTX CEO claims that the exchange and its affiliate, Alameda Research, remained solvent and that the bankruptcy was caused by lawyers seizing control. The publication drew a tepid reaction, with some community members saying it was SBF’s way of trying to score points ahead of a clemency petition.
Other News
In addition to the events described above, the following happened this week:
- Javier Miley’s crypto-friendly party won the elections in Argentina
- Japan launched the first yen-backed stablecoin, JPYC
- Evernorth acquired XRP for about $1 billion
- Coinbase partnered with Citi Bank
- Zcash price set an all-time high above $390
- a gold statue of Changpeng Zhao will be installed in Washington, DC
- CryptoQuant: crypto exchanges received more than $6.5 billion of stablecoins in a month
- Truth Social to launch prediction marketplaces in partnership with Crypto.com
- World Liberty Financial will distribute 8.4 million WLFIs to USD1 early adopters
- U.S. senators send letter to DOJ to investigate Changpeng Zhao’s pardon
- Visa added support for four stablecoins on four networks
- Bloomberg: European Central Bank aims to launch a digital euro by 2029
- Binance.US rejects the political overtones of USD1 listing
- TeraWulf to raise $900 million to expand data center in Texas
- Standard Chartered projected $2 trillion in tokenized assets through 2028
- Reuters: dYdX will enter the U.S. market by the end of 2025
- media: Coinbase plans to buy BVNK for $2 billion
What’s in Store for Incrypted?
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Guides and activities:
In Addition:
- Collected for you in one piece the key investments in blockchain and cryptoassets for October 2025.
- We regularly update the Incrypted cryptocurrency calendar, where you will find a lot of interesting events and announcements.