Crypto weekly is authored by maaria and david blumenfeld

PRICE CHANGE: WTD/YTD
- Crypto Market Cap ($3.28T): -9% / -4%
- BTC ($94,307): -10% / +1%
- ETH ($3,100): -13% / -7%
- SOL ($137): -17% / -28%
- UNI ($7.23): +8% / -45%
- OP ($0.38): -12% / -78%
- COIN ($284): -8% / +14%
- Tether Mkt Cap ($184B): 0% / +33%
- USDC Mkt Cap ($75B): -1% / +71%
- BTC / ETH Dominance: 57% / 11%

THIS WEEK IN CRYPTO
- Crypto markets plunged, with bitcoin falling below $95,000 for the first time in 6 months and alt coins like Solana and XRP falling even more, amid a macro risk adjustment on the back of a more hawkish Federal Reserve and lowered expectations of another rate cut this year. Link. Link.

- Uniswap Labs proposed to activate the "fee switch" on the protocol, and using protocol fees to burn UNI tokens as a mechanism to drive value to tokenholders. The UNI token price surged 30% on the news. Link. Proposal.

- Block enabled bitcoin payments for 4 million merchants globally through its Square Bitcoin platform, allowing them to accept bitcoin at checkout with instant settlement via the Lightning Network and no fees until 2027. Link.

- The number of active addresses on Solana fell to a 12-month low 3.3 million as the memecoin frenzy of the last year has gradually declined. Link.

- Senators Boozman (R-Ark) and Booker (D-NJ) proposed a bipartisan bill to shift cryptocurrency oversight from the SEC to the CFTC. The draft would require Democrats to have a say in at least two nominees to the five-person commission, but still leaves unresolved disagreements on DeFi and AML rules. Link.

- Treasury Secretary Bessent forecasted the stablecoin market will grow tenfold to $3 trillion by 2030, up from $300 billion today and higher than the $2 trillion he had projected earlier this year. Link. Link.

- The US Treasury and IRS provided crypto exchange-traded products (ETPs) a clear path to stake digital assets and share rewards with retail investors, without taking tax or regulatory risks. Link.

- The FBI, Secret Service, and DoJ launched a "Scam Center Strike Force" to dismantle international "pig butchering" crypto scams that defrauded Americans of an estimated $134 billion in 2024. Link.

- Companies added 14,447 BTC in October, the smallest monthly increase in 2025. Total tracked holdings reached a record 4.05 million BTC ($444 billion) across public companies (1.05 million BTC), governments (644k BTC), ETFs (1.54 million BTC), private companies (279k BTC), DeFi (379k BTC) and exchanges (156k BTC). Link. BTC Treasuries.

- Coinbase moved its legal headquarters from Delaware to the more crypto-friendly state of Texas, citing the state's business-friendly regulations. Link.

- Decentralized perps exchange Hyperliquid paused deposits and withdrawals amid speculation a trader attempted to manipulate the POPCAT memecoin price. Link.

- The Harvard Endowment nearly tripled its bitcoin holdings via BlackRock's IBIT spot bitcoin ETF in Q3, bringing its overall position to 0.6% of AUM. Link.

- The Winklevoss twins unveiled digital asset treasury company Cypherpunk Technologies, a rebrand of biotech company Leap Therapeutics, and purchased $58 million of cryptocurrency Zcash, roughly 5% of its outstanding supply. Cypherpunk is the first digital asset treasury vehicle focused on the privacy-centric Zcash. Link.

- UFC partnered with Polymarket to integrate a real-time fan prediction scoreboard into their live fight broadcasts. Link.

- Crypto exchange Gemini reported a loss of $6.67 per share, more than double what analysts expected, in its first earnings report as a publicly traded company. Shares fell more than 17% on the news. Link.

- SEC Chair Paul Atkins unveiled plans for a 'token taxonomy' to redefine crypto regulation based on the Howey Test. Link.

- Polymarket reopened its US exchange in beta mode, just months after it acquired QCX, a CFTC-approved derivatives exchange and clearinghouse. Link.

- JPMorgan rolled out a deposit token called JPM Coin, allowing institutional clients to send and receive money on Base, Coinbase's Layer-2 blockchain. Link.

- Circle's Q3 revenue jumped 66%, but its shares fell over 8% as returns on USDC reserves fell to 4.2% and rising expenses worried investors. Link.

- Binance, the world's largest crypto exchange, will accept BlackRock's $2.5 billion tokenized BUIDL money market fund as collateral on its platform. Link.