The crypto market roared into the week with strong momentum as Bitcoin (BTC) soared to a new all-time high above $125,000, while Coinbase made a bold regulatory move by applying for a national trust charter in the U.S. In parallel, a major court decision provided long-awaited legal clarity for NFTs, and developments across Ethereum, Sui, and Tether added fuel to the evolving digital asset landscape.
Bitcoin Reaches a New All-Time High
Bitcoin extended its historic rally this week, climbing from a 24-hour low of $121,500 to set a new all-time high of $125,500, surpassing its previous August record of $124,480. The rise reflects growing investor confidence and continued institutional participation through spot ETFs, which have collectively brought billions of dollars into the market.
The rally was further supported by favorable macroeconomic expectations, as investors bet on potential Federal Reserve rate cuts and increasing safe-haven demand amid global uncertainty.
Coinbase Applies for National Trust Charter
In a significant regulatory move, Coinbase, one of the world’s largest cryptocurrency exchanges, filed an application with the Office of the Comptroller of the Currency (OCC) for a national trust charter.
If approved, Coinbase would join Circle, Paxos, and Ripple among the few crypto firms operating under federal banking oversight an important step toward integrating traditional finance standards into digital asset custody and trust services.
U.S. Court Rules Bored Ape NFTs Are Not Securities
In a landmark decision for the NFT industry, Judge Fernando M. Olguin of Los Angeles ruled that Bored Ape Yacht Club NFTs do not qualify as securities under U.S. law.
The ruling dismissed a lawsuit alleging that NFT creator Yuga Labs engaged in securities violations, providing much-needed legal clarity to the broader NFT ecosystem. The decision is expected to boost market confidence and set a precedent for how regulators classify digital collectibles moving forward.
Robinhood CEO Predicts Tokenization Boom
At the Token2049 Conference in Singapore, Robinhood CEO Vlad Tenev predicted that asset tokenization could become mainstream within five years, describing it as “a freight train that can’t be stopped.” Tenev suggested that tokenized real-world assets (RWAs) could “eventually eat the entire financial system,” as more markets adopt blockchain-based frameworks.
Sui to Launch Dual Stablecoins
Sui Group Holdings, listed on Nasdaq, announced plans to issue two stablecoins on its Layer-1 blockchain — the yield-bearing suiUSDe and the non-yield USDi. The dual model aims to balance returns for DeFi users with stability for traditional payments, positioning Sui as an emerging competitor in the stablecoin ecosystem.
UK Government Eyes $7B Bitcoin Seizure
In one of the largest crypto seizures in law enforcement history, UK authorities are seeking to retain approximately $7 billion in Bitcoin linked to a Chinese investment fraud case.
Defendant Zhimin Qian pleaded guilty at Southwark Crown Court to possessing and transferring criminal property, following a related conviction of her assistant in 2024. The seizure underscores governments’ growing capacity to trace and recover illicit digital assets.
Ethereum’s Fusaka Upgrade Passes Key Test
Ethereum achieved another technical milestone as its Fusaka upgrade successfully launched on the Holesky testnet. The update introduces PeerDAS, a feature allowing validators to verify partial data instead of entire chunks, which reduces operational costs for Layer-2 networks and validators.
With testing complete, mainnet deployment is expected in the coming months a crucial step toward improving Ethereum’s scalability and efficiency.
SBI Crypto Suffers $21M Exploit
Japanese firm SBI Crypto, a subsidiary of SBI Group, suffered an exploit resulting in $21 million in losses. Blockchain investigator ZachXBT reported that funds were stolen across Bitcoin, Ethereum, Litecoin, Dogecoin, and Bitcoin Cash, with the stolen assets later funneled through Tornado Cash.
Analysts suspect North Korean hacking patterns, continuing a trend of state-linked cyberattacks targeting major crypto firms.
World Liberty Financial Pushes Commodity Tokenization
At Token2049, World Liberty Financial CEO Zack Witkoff revealed plans to tokenize commodities such as oil, gas, cotton, and timber. The initiative is reportedly backed by Donald Trump and tied to the USD1 stablecoin, designed to support U.S. Treasury purchases and bolster dollar dominance.
Despite political controversy, Donald Trump Jr. defended the project, emphasizing it as an economic initiative rather than a political one.
Binance Warns of Compromised BNB Chain Account
The official BNB Chain X account was briefly compromised this week, prompting Binance co-founder Changpeng Zhao (CZ) to warn users against interacting with fake posts promising $BSC rewards and “early distributions.” Binance swiftly regained control of the account and confirmed no user funds were affected.
Ripple CTO Announces Transition
After more than 13 years at Ripple, CTO David Schwartz announced plans to step back from day-to-day operations by the end of the year. Schwartz, one of the longest-serving leaders in the crypto industry, will continue advising Ripple during its next growth phase.
Robinhood Explores Prediction Markets
Robinhood is reportedly in discussions with UK regulators, including the Financial Conduct Authority (FCA), to expand into international prediction markets. The company aims to offer blockchain-based forecasting products outside the U.S., pending regulatory approval.
Tether Expands Bitcoin Reserves
Tether, the world’s largest stablecoin issuer, added $1 billion worth of Bitcoin to its reserves, bringing total holdings to $9.7 billion. Blockchain data shows that 8,889 BTC were transferred from a Bitfinex-linked wallet to Tether’s reserve address as USDT’s supply nears $175 billion.
