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This week on Crypto Intelligence we got top headlines. Traders “sold the news” on recent macro moves: following a Fed rate cut and a U.S.–China trade deal, the crypto market shed ~USD 80 billion in value. Today, a three-judge panel will hear oral arguments in Bankman-Fried’s appeal. .Plus, we decode the FUD and tweet of the week. Let’s get into it →
Crypto Headlines
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On Chain Updates.
Bitcoin Spot Market Dominates October
$300B+ in Bitcoin spot trading volume made October the 2nd-strongest month of 2025.
Binance led with $174B in spot trades — the highest among all exchanges.
Analysts at CryptoQuant call this shift “highly constructive,” showing traders are moving away from leveraged risk toward real asset accumulation.
Signals improving market health and reduced dependency on futures speculation.
On-chain data shows a clear rotation from high-risk leverage to spot positions across top exchanges.
Tweet Of The Week
SBF’s latest defense drop 🧾
In, short, Sam Bankman-Fried insists FTX was never insolvent, blaming lawyers for pushing a “needless” bankruptcy.
He claims all users could’ve been repaid and his family is now seeking clemency from President Trump.
FUD Filter
We reported as per top media channels-
Kyrgyzstan President Sadyr Japarov claimed that Changpeng “CZ” Zhao proposed establishing a private bank that also deals in cryptocurrency.
The Information:
Binance co-founder Changpeng “CZ” Zhao has pushed back on reports that he has been driving a proposal to establish a crypto-friendly private bank in the Central Asian nation of Kyrgyzstan, where he provides advisory services.
“This isn’t correct. Not quite 4 FUD level, but still wrong. I never proposed creating a bank myself. While I support banks working with crypto generally, I have no interest in running one. I don’t recognize the name mentioned below. It’s not something I proposed.”
🧭 Global Regulation Watch
U.S. lawmakers are making progress on bipartisan crypto regulation talks in Congress, even amid budget tensions signaling renewed urgency to clarify oversight between the SEC and CFTC.
Japan’s Financial Services Agency (FSA) is exploring new rules that could allow banks to directly invest in crypto assets (though not offer them to clients).
A broader institutional acceptance of digital assets across key global markets, do you see it coming?
Innovation and Intelligence
1. Ethereum’s Fusaka Upgrade Set for Dec. 3 — A Leap Toward Scalable Layer-2 Future
You saw the FUD right? Here is more! Ethereum developers confirmed Fusaka as the next major network upgrade date. The hard fork introduces about a dozen Ethereum Improvement Proposals (EIPs) aimed at improving scalability, sustainability, and Layer-2 integration — setting the stage for faster rollups and more efficient gas usage.
Source; Crypto API
2. JPMorgan’s Private Equity Tokenization Pilot Goes Live on Its Blockchain
In a first-of-its-kind move, JPMorgan completed a private fund transaction using its in-house blockchain, Onyx. The bank tokenized shares of a private equity fund for a large institutional client — signaling that traditional finance is steadily embracing blockchain rails for real-world asset (RWA) tokenization.
Source; JP Morgan Official Website
3. dYdX Targets U.S. Expansion With Spot Trading Launch Plans
Decentralized exchange dYdX announced plans to enter the U.S. market by year-end, starting with spot trading products. While derivatives won’t be available initially due to regulatory restrictions, the move highlights growing optimism for compliant DeFi access in America.
Source; The Block
🧾 Wrapping Up
Dear reader, thankyou for reading and joining us this week. From policy power moves in Washington and Tokyo to Ethereum’s next upgrade and JPMorgan’s blockchain leap, you can see, the crypto landscape this week showed clear signs of maturity.
As markets digest these shifts, expect the coming weeks to focus on liquidity, compliance, and real-world integration — the new pillars of crypto’s next growth phase.