The industry pushed boundaries, and innovation continued to thrive. Adoption is finally here as regulators remained in the background.
The headlines:
- Coinbase wants the Treasury to treat stablecoins like they are cash and not debt-fueled instruments;
- J.P. Morgan is available for stablecoin collaborations;
- Ripple Labs isn’t ready for an IPO anytime soon;
- Indices are now on-chain thanks to a partnership between Chainlink and FTSE Russell;
- Gemini is planning a prediction markets entrée;
- Plus, SBF wants to take another shot at freedom via an appeal (more on that later);
- And much more!
As always, these are your Decentralized Diaries!
Bitcoin is at $106k (as of 11/10/25)
The markets continued to slide as Bitcoin moved from a low of $101,521.76 to a high of $106,564.69 before settling at $106,023.28.
The altcoins are also unsteady.
Ethereum (ETH) is at $3,590.05, Solana (SOL) is at $167.55, Chainlink (LINK) is at $16.49, Avalanche (AVAX) is at $18.19, Polkadot (DOT) is at $3.26, and Uniswap (UNI) is at $7.10.
Treat Stablecoins Like Cash, Not Debt-Coinbase
On October 4, the premier crypto exchange Coinbase advised the Treasury to treat stablecoins in the same manner as cash. The submissions are a part of the GENIUS Act public comment process.
Furthermore, the crypto exchange revealed that stablecoin tokens have reserves and that their underlying blockchain infrastructure offers seamless transaction alternatives.
J.P. Morgan is Ready to Partner with Others to Build a Stablecoin
Banking behemoth J.P. Morgan is available to collaborate with other financial institutions to build a joint stablecoin. On October 6, at the America Business Forum event, J.P. Morgan CEO Jamie Dimon indicated that, although the future of stablecoin development may not yet be clear, cooperation with others is on the cards.
Moreover, Dimon also iterated that the bank will continue to experiment with different crypto-related projects.
Ripple Supports the Fed’s Crypto Master Account Plans
XRP token issuer Ripple pushed for the implementation of the Fed’s skinny crypto master account, Reuters reported on November 6. Ripple’s Chief Legal Officer, Stu Alderoty, indicated that the concept is sound and should give banks some “comfort.”
Additionally, Alderoty touted the efficiency and transparency of the setup as proposed by Fed Governor Christopher Waller last month.
There Are No Immediate IPO Intentions-Ripple
In related news, Ripple’s President, Monica Long, revealed that the firm has no plans to go public, Bloomberg reported on November 5. Long made the remarks at the recently concluded Ripple Swell conference.
In addition, Long iterated that the blockchain infrastructure firm has everything Git takes to go it alone, at least for the foreseeable future.
UN Agency Unveils Blockchain Education, Advisory Programs
On the global stage, plans to help governments understand and transition to blockchain-based futures are taking center stage. The United Nations Development Program (UNDP) revealed plans to launch a blockchain academy and advisory group to help governments adopt blockchain technology.
Subsequently, the academy will begin operations within weeks and initially collaborate with four selected governments.
FTSE Russell and Chainlink Announce Index On-Chain Partnership
Oracle-focused blockchain Chainlink teamed up with global index provider FTSE Russell to enable indices on-chain. The deployment deploys the on-chain publication of multiple indices through the Chainlink DataLink offering.
Furthermore, the (initially) published indices include data from the FTSE Digital Asset Indices, FTSE DAR Digital Asset Prices, Russell 1000, Russell 3000, and FTSE 100 Indexes, Russell 2000, and the WMR FX benchmarks.
Nasdaq Issues a TON Treasury Firm Warning
Premier exchange operator reprimanded TON token-focused crypto treasury company TON Strategy over (alleged) shareholder approval rule violations. Nasdaq contended that the firm failed to get shareholder approval for the massive crypto purchase and its related $558 million stock sale.
Officials also decided that the decision wasn’t intentional.
Mastercard, Ripple, Gemini Partner to Enable RLUSD Onboarding
RLUSD Stablecoin issuer Ripple collaborated with WebBank, Mastercard, and Gemini to enable onboarding and facilitate everyday transactions for RLUSD. According to a November 5 announcement, the deployment will utilize the (proposed) Gemini Credit Card to settle RLUSD stablecoin transactions.
Additionally, the launch of the setup will (expectedly) occur in a few months following the final regulatory approvals.
Gemini Mulls Prediction Markets Debut
The Winklevoss-owned crypto ecosystem Gemni has plans to launch a prediction markets-focused platform, Bloomberg reported on November 4. Already, the crypto exchange has filed with the CFTC to operate a derivatives exchange.
The move follows Gemini’s recent IPO that raised $443 million.
Top Ethereum Protocols Group Together in Fresh Lobby Efforts
Major Ethereum blockchain players have teamed up to establish a unified policy voice. On October 4, the consortium formed the Ethereum Protocol Advocacy Alliance (EPAA).
In addition, the EPAA comprises several critical Ethereum leaders, including Aragon, Aave Labs, Lido Labs Foundation, Curve, The Graph Foundation, Graph Foundation and Uniswap Foundation.
tZERO Announces a Tokenization API
Blockchain infrastructure specialist tZERO unveiled tZERO Connect, an API-focused offering that enables the seamless tokenization of real-world assets (RWAs). tZERO Connect features several enhancements that boost its capabilities, including data APIs, issuance APIs, third-party integrations, and a compliant core engine.
Furthermore, the solution offers umbrella access to tZERO’s API-driven framework.
SBF Wants to Appeal His Conviction
Sam Bankman-Fried, the founder of FTX, intends to appeal his conviction, Bloomberg reported on October 4. According to the report, SBF alleged that U.S. District Judge Lewis Kaplan mistreated him during his trial.
Additionally, Bankman-Fried will face a panel of three judges at the U.S. Court of Appeals for the 2nd Circuit.
Most Hedge Funds Now Hold Crypto–AIMA
The Hedge Fund community is now fully invested in the crypto space, a recent survey by the Alternative Investment Management Association (AIMA) suggests. According to the study, 55% of hedge funds hold digital assets on their balance sheets.
The figure represents an 8% increase from 47% last year.
Robinhood Remains Undecided About Crypto Treasuries
During Robinhood’s Q3 earnings call on October 5, Finance and Strategy Vice President Shiv Verma stated that the trading firm’s management was considering the deployment of crypto treasuries. Verma also revealed that the final decision was at the discretion of the shareholders.
Furthermore, Verma expressed optimism about treasuries and highlighted increasing customer interest in the measure.
Crypto ETFs Are Back to Life
Digital asset ETFs are back in the game. A recent filing adjustment by Bitwise could signal an end-of-month launch of its spot Dogecoin ETF.
The DTCC also listed five XRP spot ETFs. They include the CoinShares XRP ETF (XRPL), the Franklin XRP Trust (XRPZ), 21Shares XRP ETF (TOXR), the Canary XRP ETF (XRPC), and the Bitwise XRP ETF (XRP).
