gm 24/10

Summary
gm, President Trump's pardon of Binance founder Changpeng Zhao caused BNB to surge 3.9% to $1,140, while also boosting related tokens like World Liberty Financial by over 13%. Investment activity intensified as major financial institutions expanded their crypto footprints, with Fidelity adding Solana trading support, T. Rowe Price filing for a mixed crypto ETF containing 5-15 cryptocurrencies, and Revolut securing a MiCA license in Cyprus to offer regulated crypto services across the European Economic Area. Meanwhile, stablecoins continued their rise as a global financial force, with an Andreessen Horowitz report highlighting that stablecoin transactions have reached $9 trillion over the past year (an 87% increase), now representing over 1% of US dollars in circulation and collectively holding over $150 billion in US Treasurys, making them the 17th-largest holder of US government debt.

News Headlines
🧠 Google Claims Quantum Breakthrough Reignites Bitcoin Security Debate

• Google announced its "Willow" chip has achieved "quantum advantage," completing calculations thousands of times faster than classical supercomputers, raising questions about potential future threats to Bitcoin's cryptographic infrastructure.
• Despite the breakthrough, experts emphasize that practical threats to Bitcoin's security are still likely a decade away, as no existing technology can currently break modern cryptography used in blockchain networks.

⚡ Near-Instant Ethereum Transfers Now Possible with Primev Solution

• Ethereum mainnet transfers can now be executed in just 200 milliseconds thanks to Primev's "FAST RPC" solution, which provides preconfirmation that transactions will likely be added to the next block.
• This technology significantly improves efficiency for Ether transfers, smart contract interactions, and NFT minting, though it has yet to be tested at scale compared to established services like Infura and Alchemy.

🎬 Tokenization Revolutionizing Film Financing Against Hollywood Studios

• Tokenization is transforming the film industry by allowing fans to directly invest in productions, challenging traditional Hollywood studio funding models which have historically restricted creative risks.
• Successful examples include Robert Rodriguez raising $2 million from fans and Eli Roth creating a fan-owned horror studio, demonstrating how tokenization increases both capital and quality by engaging invested audiences.

🔄 Ethereum Foundation Moves $600 Million to New Multi-Sig Wallet

• The Ethereum Foundation transferred approximately $610 million worth of ETH to a new multi-signature Safe Wallet as part of a planned migration to enhance security and adapt to DeFi needs.
• This strategic move aims to improve the foundation's financial sustainability while restructuring treasury policies to reduce annual spending from 15% of assets to just 5% by 2030.

🔋 Bitcoin Miner Debt Surges 500% as Companies Invest in AI Infrastructure

• Debt among Bitcoin miners has skyrocketed from $2.1 billion to $12.7 billion in just one year as companies secure advanced equipment for both Bitcoin production and AI applications.
• Miners are diversifying revenue streams through high-performance computing services alongside traditional mining, with some raising significant capital through convertible notes directed at AI infrastructure expansion.

Market Metrics

Fundraising & VC
1. Pave Bank (Series A, $39M) - Programmable bank built for digital assets and AI 
2. Loyal (Public Token Sale, $2.5M) - Privacy-preserving decentralized intelligence infrastructure

Regulatory
🚨 UK FCA Issues Hundreds of Warnings to Crypto Companies

• The UK's Financial Conduct Authority has intensified enforcement by issuing hundreds of warnings to unregistered crypto exchanges, including Elite Bit Markets, Nexure Gainbit, and HTX.
• The FCA has also initiated legal actions against HTX for promoting services to UK residents, emphasizing that while many companies have complied with regulations, it will act against blatant rule breaches.

💰 Canada Fines Crypto Firm Record $126M for AML Violations

• Canada's Financial Transactions and Reports Analysis Centre has issued a record fine of $126 million to Cryptomus for failing to report over 1,000 suspicious transactions.
• The violations included serious offenses related to child sexual abuse material, fraud, and ransomware payments, highlighting increased regulatory enforcement in Canada's crypto sector.

🌐 Turkey's $200B Crypto Boom Built on Speculation, Not Adoption

• Turkey has become the leading crypto market in the MENA region with nearly $200 billion in annual transactions, but Chainalysis reports this growth is driven primarily by speculative trading rather than sustainable adoption.
• The shift from stablecoins to altcoins reflects economic pressures as market participants chase returns, with larger institutional players remaining active due to inflation hedging strategies.

💰 Alleged Scammer Wanted by DOJ Moves $2B in Bitcoin

• Wallets associated with Chen Zhi, the alleged mastermind behind a $14 billion crypto fraud network, have transferred approximately 15,959 BTC from previously sanctioned accounts to new wallets.
• Chen, who remains at large, is linked to Prince Holding Group which federal prosecutors describe as the center of a global crypto fraud operation, with the U.S. government seeking $14.2 billion in forfeited Bitcoin tied to the case.

📱 Coinbase Connects AI to Crypto Payments with New Protocol

• Coinbase has launched Payments MCP, a new protocol that allows AI agents to autonomously hold wallets and send stablecoin payments, utilizing the previously unused HTTP 402 code.
• The system supports major AI platforms like Anthropic's Claude and Google's Gemini, enabling them to create and manage crypto wallets with minimal coding and built-in compliance measures.

Technical Analysis
Bitcoin - Bitcoin is within an approximate horizontal trend channel in the short term. This indicates that investors are uncertain and waiting for signals of further direction. A break upwards will be a positive signal, while a break downwards will be a negative signal. The currency has broken up through resistance at points 109600. This predicts a further rise. Negative volume balance indicates that volume is high on days with falling prices and low on days with rising prices, which weakens the currency. The currency is overall assessed as technically positive for the short term.

Ethereum - Ethereum shows weak development in a falling trend channel in the short term. This signals increasing pessimism among investors and indicates further decline for Ethereum. The currency is approaching resistance at 3970 points, which may give a negative reaction. However, a break upwards through 3970 points will be a positive signal. Volume has previously been low at price tops and high at price bottoms. Volume balance is also negative, which confirms the trend. The currency is overall assessed as technically negative for the short term.