It’s been a defining week for Bitcoin and beyond.
From Trump’s bold vow to make the U.S. a “Bitcoin superpower” to the XRP ETF countdown, crypto is back in the spotlight after a few rocky weeks. Missed the biggest moves? Here’s your quick rundown.
President Donald Trump says he wants to make the United States “the Bitcoin superpower.” Speaking at the America Business Forum in Miami, he claimed his administration ended Washington’s “war on crypto” and called digital assets key to strengthening the dollar.
“It takes a lot of the pressure off the dollar,” he said. Trump warned that countries like China are racing ahead in crypto adoption. The USA must act fast or risk falling behind.
Senator Cynthia Lummis is back pushing the idea of a Strategic Bitcoin Reserve to help manage America’s rising debt. She said Bitcoin could act as a long-term asset that strengthens the country’s balance sheet. Lummis praised President Trump for backing the proposal and said she’s eager to see it finalized.
Treasury officials are reportedly exploring options beyond gold revaluation, with discussions underway at both the Treasury and the White House on how to build the reserve responsibly.
The XRP ETF race is picking up speed. Franklin Templeton, Bitwise, and Canary Capital have filed fresh S-1 updates with the U.S. SEC, signaling that spot XRP ETFs could go live as early as mid-November.
At Ripple’s Swell event, Canary CEO Steven McClurg said, “We’re ready to launch the XRP ETF next week.” The firms have dropped the usual delay clause, mirroring the recent Solana and Litecoin ETF strategy. For Ripple supporters, the long-awaited Wall Street debut looks closer than ever.
Canada and the UK are moving fast to bring stablecoins under formal regulation. Canada’s 2025 Federal Budget outlines strict rules for fiat-backed tokens, including reserve standards and data protection.
Meanwhile, the Bank of England says it will roll out its stablecoin framework “as quickly as the US,” focusing first on systemic coins. Both countries want to modernize payments and boost trust in digital money.
Michael Saylor’s Strategy is turning to Europe for its next Bitcoin push. The company filed to offer 3.5 million euro-denominated STRE shares to raise funds for more Bitcoin purchases and general use. Each share carries a 10% annual dividend, rising if unpaid.
Analysts say Strategy’s model remains strong despite recent stock dips. Bitcoin expert Willy Woo added that the firm is unlikely to face liquidation, noting its flexible debt terms and steady position as the world’s biggest Bitcoin holder.
Zcash (ZEC) has staged a powerful comeback, climbing above $600 for the first time since 2019 and returning to crypto’s top 20 list.
The privacy-focused token is up 1,270% year-over-year, with trading volume soaring past $1.8 billion across Binance, Hyperliquid, and Bybit. Renewed interest in privacy infrastructure, new upgrades from the Electric Coin Company, and the growing use of the Zashi wallet are driving the surge.
Elon Musk has once again turned the spotlight on Dogecoin. On November 3, he posted a short tweet, “It’s time”, reviving his 2021 promise to put a literal Dogecoin on the literal moon. The mission, called DOGE-1, is funded entirely in Dogecoin and will fly on a SpaceX Falcon 9 later in 2025.
Musk’s tweets have often sent the meme coin soaring, and his latest one has fans hoping for another lift.
FTX has withdrawn a proposal that could have stopped thousands of users from getting their money back. The plan, called the “Restricted Jurisdiction Procedure,” would have blocked repayments in 49 countries, including China, Russia, and Saudi Arabia. Creditors from China led the protest, arguing the rule was unfair and discriminatory.
The proposal covered nearly $800 million in claims, i.e. about 5% of total repayments. After days of backlash, FTX reversed the decision, giving hope to users waiting since the 2022 collapse.
This Might Interest You: SBF Says FTX Was Never Insolvent
Zohran Mamdani’s win in the New York City mayoral race could reshape the city’s stance on cryptocurrency. Known for backing consumer protection and stronger oversight after the FTX and Terra collapses, Mamdani has also supported a moratorium on proof-of-work mining and a proposed crypto transaction tax.
While his powers over the industry are limited, his approach signals a tougher environment ahead for digital assets in the city.
Ripple is taking another big step toward merging crypto with everyday finance. At the Ripple Swell 2025 event in New York, the company announced a partnership with Mastercard, Gemini, and WebBank to use its RLUSD stablecoin for payments on the XRP Ledger.
This could allow Gemini credit card transactions to settle through RLUSD instead of traditional banks. Ripple President Monica Long called it a “meaningful step” in showing how blockchain and regulated finance can work together for faster, safer payments.
Here’s a few quick hits you shouldn’t miss!
Japan Becomes 11th Nation to Join the State-Backed Bitcoin Mining Race: The government launched a 4.5-megawatt project using surplus renewable energy, marking its first official step into national-level Bitcoin production.
Samourai Founders Targeted by DOJ in Tornado Cash-Style Crypto Privacy Crackdown: U.S. prosecutors seek five-year sentences for Keonne Rodriguez and William Hill, accused of laundering $230 million through their Bitcoin privacy app.
The Central Bank Takes Enforcement Action Against Coinbase Europe for Anti-Money Laundering Failures: Ireland’s regulator fined the exchange €21.4 million after 30 million transactions worth €176 billion went unmonitored, citing major lapses in AML and CFT systems.
Kazakhstan to Launch $1B Crypto Reserve Fund by 2026: The government plans a state-managed fund backed by seized assets and mining revenues, investing through the Astana hub while limiting direct crypto exposure.
Wintermute Says Crypto Market Recovery Hinges on ETF and DAT Inflows: The firm says new capital is moving to stocks and AI, leaving digital assets dependent on ETF and decentralized token demand for revival.
Major shifts to expect ahead
It’s a turning point for the industry – less speculation, more structure, and a clearer path forward. Stay tuned for next week’s digest!
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