gm 30/10

Summary
gm, Western Union announced plans to launch a dollar-backed stablecoin called USDPT on the Solana blockchain to facilitate international payments and reduce remittance costs. Mastercard is reportedly in advanced talks to acquire stablecoin infrastructure firm Zero Hash for approximately $2 billion, signaling growing interest from traditional financial players in blockchain technology. Meanwhile, BlackRock CEO Larry Fink described cryptocurrencies as "assets of fear" amid rising government debt concerns, reflecting an evolving institutional perspective on digital assets. In other news, Ethereum took a step forward with its Fusaka upgrade successfully completing final testing ahead of a December mainnet launch, which promises to enhance layer-2 scalability, while Bitwise's Solana Staking ETF attracted $69.5 million on its debut day, outpacing competitor funds and highlighting continued institutional appetite for alternative crypto exposure vehicles.

News Headlines
🌐 Consensys Plans Public Debut with JPMorgan and Goldman Sachs Leading IPO

• Consensys, the blockchain software company behind MetaMask wallet, is planning to go public with JPMorgan Chase and Goldman Sachs serving as lead underwriters for its initial public offering.
• Founded by Ethereum co-founder Joseph Lubin, Consensys develops tools for users and developers to engage with Ethereum applications and is also backing SharpLink's $200 million investment into onchain yield strategies.

🔄 Chainlink Underpins Balcony's $240B Real Estate Tokenization Platform

• Balcony has unveiled a groundbreaking real estate tokenization platform valued at $240 billion, leveraging Chainlink's technology to enhance security and efficiency in the fractional ownership of real estate assets.
• By using blockchain technology, the platform aims to minimize barriers to entry for investors and streamline transactions, potentially transforming how real estate investments are approached and traded.

📢 MegaETH's Token Sale Raises $450M as Ethereum Founders-Backed Project Exceeds Target

• MegaETH, an Ethereum layer-2 project backed by Ethereum founders Vitalik Buterin and Joe Lubin, raised an impressive $450 million in its token sale, exceeding its target by nearly nine times within hours of launch.
• Over 14,000 investors participated in the auction, with 819 wallets maxing out at $186,000 each, demonstrating strong investor appetite for fast blockchain solutions aiming to achieve 100,000 transactions per second.

🏦 DBS, Goldman Sachs Execute First Over-the-Counter Interbank Crypto Options Trade

• DBS and Goldman Sachs have completed the first-ever over-the-counter cryptocurrency options trade between banks, involving cash-settled options for bitcoin and ether.
• In the first half of 2025, DBS clients executed over $1 billion in crypto options and structured note trades, reflecting a 60% increase from the previous quarter and growing institutional appetite for digital asset derivatives.

🏛️ Wealth Managers Scramble to Add Crypto as UAE's Ultra-Rich Demand Digital Assets

• Wealth management firms in the UAE are rapidly adjusting their strategies to include cryptocurrencies as high-net-worth individuals increasingly seek to allocate portions of their portfolios to digital assets.
• The urgency is driven by competitive pressures and recognition of cryptocurrencies as a viable asset class, with firms enhancing their understanding of digital currencies to effectively integrate them into client portfolios.

Market Metrics

Fundraising & VC
1. Accountable (Undisclosed, $7.5M) - Real-time financial verification platform
2. Pieverse (Seed, $3M) - Web3-native payment and compliance infrastructure
3. Aria Protocol (Strategic, $500K) - Compliant RWA + IP tokenization platform
4. Nemesis (Pre-seed, Undisclosed) - Decentralized exchange

Regulatory
🔮 Polymarket Plans US Return After CFTC Settlement

• Prediction market platform Polymarket is set to relaunch in the US by November, initially focusing on sports betting markets following its $1.4 million settlement with the CFTC in 2022.
• The company has acquired QCX, a CFTC-registered exchange, allowing it to pursue legal operations in the US market while planning to introduce a crypto token linked to its comeback.

🏛️ Senators Warren and Sanders Oppose Crypto in Retirement Accounts

• Senators Elizabeth Warren and Bernie Sanders have warned against the Trump administration's plans to allow 401(k) retirement plans to invest in cryptocurrencies, calling it a threat to $31 trillion in retirement savings.
• In a letter to regulators, they likened crypto investments to gambling rather than sound investing, citing volatility and lack of cash flow as major concerns for retirement accounts.

📱 Swiss Crypto Firm Taurus Opens NY Office Amid US Expansion

• Swiss crypto infrastructure provider Taurus has opened a New York office as part of its US expansion strategy, aiming to serve banks and corporations entering the digital asset market.
• Led by former Fiserv and Swift executive Zack Bender, the firm expects increased institutional adoption as US regulatory conditions for digital assets continue to improve.

💰 Mt. Gox Repaying Creditors After Decade-Long Bankruptcy Process

• Creditors of Mt. Gox, once the world's largest Bitcoin exchange, are finally receiving repayments more than a decade after its collapse, with a new repayment deadline set for October 31, 2026.
• Approximately 19,500 creditors have received funds so far, while others await distribution from the recovered 140,000 Bitcoin (worth approximately $16 billion today).

⚠️ Bitcoin ATMs Used in "Jury Duty" Scam, Police Warn

• Massachusetts police have warned residents about scammers using Bitcoin ATMs to defraud victims of nearly $7,000 by falsely claiming they owed money for missing jury duty.
• This incident is part of a broader trend, with scams involving crypto ATMs surging to approximately $247 million in 2024 according to FBI data.

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 is between support at points 107200 and resistance at points 109600. A definitive break through of one of these levels predicts the new direction. Negative volume balance indicates that sellers are aggressive while buyers are passive, and weakens the currency. The currency is overall assessed as technically slightly negative for the short term.

Ethereum - Ethereum shows weak development in a falling trend channel in the short term. Falling trends indicate that the currency experiences negative development and falling buy interest among investors. The currency is moving within a rectangle formation between support at 3793 and resistance at 4635. A decisive break through one of these levels indicates the new direction for the currency. The currency is between support at points 3830 and resistance at points 3970. A definitive break through of one of these levels predicts the new direction. Volume has previously been low at price tops and high at price bottoms. Volume balance is also negative, which confirms the trend. RSI diverges positively against the price, which indicates a possibility for a reaction up. The RSI curve shows a rising trend, which is an early signal of a possible trend reversal upwards for the price as well. The currency is overall assessed as technically negative for the short term.