Stay informed with our weekly crypto digest as we keep you updated on the hottest trends and events in the crypto space.
Here’s what happened in crypto this week:
US President Donald Trump pardons convicted Binance founder Changpeng Zhao
US President Donald Trump has pardoned convicted Binance co-founder Changpeng “CZ” Zhao, the White House press secretary said, accusing Trump’s predecessor Joe Biden of behaving “very hostile” towards the crypto industry.
Binance was founded in 2017 and quickly became the largest cryptocurrency exchange in the world by volume, making Zhao a billionaire.
Following an investigation into the company’s activities, Zhao pleaded guilty in late 2023 to violating U.S. anti-money laundering laws and served a four-month prison sentence in 2024.
Zhao’s pardon could pave the way for Binance to return to the United States, about two years after it agreed to suspend its U.S. operations in a deal to resolve the Justice Department’s criminal investigation.
Tether Eyes Fresh Investments to Bring USAT Stablecoin to 100 Million Americans at December Launch
Tether will launch its US-focused stablecoin, USAT, by December 2025, aiming to introduce a new financial instrument to millions of Americans.
With strategic investments in platforms like Rumble and other companies, Tether plans to attract 100 million users.
The USAT token will be issued by Tether America, a joint venture between Tether and US crypto bank Anchorage Digital, both of which are working together to ensure full compliance with US regulations.
Ardoino emphasized that USAT will focus on providing a secure, compliant payment method for US users, making it suitable for everyday transactions. The token is expected to compete with other digital payment systems, such as PayPal, by providing a stablecoin for transactions in the maker economy and beyond.
Trump picks Michael Selig for CFTC chairman amid crypto expansion
Donald Trump has chosen Michael Selig as the new CFTC chairman, a move that signals potential pro-crypto policies amid booming digital asset markets.
Selig, formerly of the SEC’s Crypto Task Force, is seen as an ally of the industry. His background suggests a push for balanced regulation that could foster innovation in the $3 trillion crypto space.
This designation comes in line with the explosive growth of cryptocurrencies, with US volumes reportedly increasing 50% year-on-year by 2025.
Polymarket CMO confirms $POLY token and airdrop plans as prediction market gains popularity
Polymarket will launch a token and airdrop some to its users, and it’s looking to Hyperliquid for inspiration.
That’s according to Matthew Modabber, head of marketing at the prediction market, who confirmed the news during an interview on the Degenz Live podcast on Thursday.
“There will be a token, there will be an airdrop,” he said, adding that the company wants the token to be usable and “to exist forever.”
The announcement caused a wave of excitement in cryptocurrency circles. But users will have to wait a while before the token is launched.
“Right now, our core priority is to launch in the US and make a big impact there,” Modabber said. “After we take care of the US app and US launch, the focus will be on the token.”
The world’s first Yen-pegged stablecoin debuts in Japan
Japan has launched the world’s first yen-pegged stablecoin through startup JPYC, a notable move in a cash-dominated market. This could signal a shift towards digital finance in a traditional financial landscape.
The stablecoin, backed by domestic savings and Japanese government bonds, aims to provide a reliable digital alternative to fiat. JPYC’s initiative, approved by regulators, aims to integrate into Japan’s payment systems.
The move challenges the dominance of cash and cards in Japan, potentially paving the way for wider cryptocurrency adoption. It is in line with global trends as major Japanese banks are also exploring issuing stablecoins.
Citi uses Coinbase to explore Stablecoin payments for customers
Citi partners with Coinbase testing stablecoin payment solutions for its customers, aiming to integrate digital assets into traditional finance with faster, cheaper transactions as cryptocurrency adoption increases.
The pilot project aims to provide customers with efficient cross-border payments and liquidity, leveraging the potential of stablecoins for 24/7 settlement. It’s a pragmatic bet on combining TradFi with crypto infrastructure for practicality.
MetaMask registers domain for claiming MetaMask tokens, indicating airdrop is approaching
The most popular wallet app, MetaMask, has registered a domain name to claim MetaMask tokens, which could indicate an airdrop is approaching.
The probability that “MetaMask will issue tokens this year” on the Polymarket prediction platform has increased to 35%.
The website in question is currently hidden behind a password-protected Vercel Authenticator interface. However, it is not yet clear whether the site has an official connection with MetaMask or its parent company Consensys
MetaMask officials have long talked about a token plan. Consensys CEO Joe Lubin said in September that the $MASK token could arrive “sooner than expected” and that it would be a step toward decentralization for MetaMask.
Final thoughts
Well, that’s it for this week!
To stay ahead with the latest crypto news and insights straight to your inbox, subscribe to UseTheBitcoin’s newsletter Today.
Have a fantastic week ahead!
#UTB #Weekly #News #Roundup #October #October