{"id":11789,"date":"2025-10-06T20:03:37","date_gmt":"2025-10-06T20:03:37","guid":{"rendered":"https:\/\/cryptonewsdesk.com\/?p=11789"},"modified":"2025-10-06T20:03:39","modified_gmt":"2025-10-06T20:03:39","slug":"weekly-crypto-recap-bitcoin-hits-record-high-coinbase-seeks-u-s-trust-charter-and-court-rules-bored-apes-arent-securities","status":"publish","type":"post","link":"https:\/\/cryptonewsdesk.com\/index.php\/2025\/10\/06\/weekly-crypto-recap-bitcoin-hits-record-high-coinbase-seeks-u-s-trust-charter-and-court-rules-bored-apes-arent-securities\/","title":{"rendered":"Weekly Crypto Recap: Bitcoin Hits Record High, Coinbase Seeks U.S. Trust Charter, and Court Rules Bored Apes Aren\u2019t Securities"},"content":{"rendered":"\n<p>The crypto market roared into the week with strong momentum as <strong>Bitcoin (BTC)<\/strong> soared to a <strong>new all-time high above $125,000<\/strong>, while <strong>Coinbase<\/strong> made a bold regulatory move by applying for a <strong>national trust charter<\/strong> 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.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Bitcoin Reaches a New All-Time High<\/h4>\n\n\n\n<p>Bitcoin extended its historic rally this week, climbing from a <strong>24-hour low of $121,500<\/strong> to set a new all-time high of <strong>$125,500<\/strong>, 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.<\/p>\n\n\n\n<p>The rally was further supported by favorable macroeconomic expectations, as investors bet on potential <strong>Federal Reserve rate cuts<\/strong> and increasing <strong>safe-haven demand<\/strong> amid global uncertainty.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Coinbase Applies for National Trust Charter<\/h4>\n\n\n\n<p>In a significant regulatory move, <strong>Coinbase<\/strong>, one of the world\u2019s largest cryptocurrency exchanges, <strong>filed an application with the Office of the Comptroller of the Currency (OCC)<\/strong> for a <strong>national trust charter<\/strong>.<\/p>\n\n\n\n<p>If approved, Coinbase would join <strong>Circle, Paxos, and Ripple<\/strong> 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.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">U.S. Court Rules Bored Ape NFTs Are Not Securities<\/h4>\n\n\n\n<p>In a landmark decision for the NFT industry, <strong>Judge Fernando M. Olguin<\/strong> of Los Angeles ruled that <strong>Bored Ape Yacht Club NFTs<\/strong> do <strong>not qualify as securities<\/strong> under U.S. law.<\/p>\n\n\n\n<p>The ruling dismissed a lawsuit alleging that NFT creator <strong>Yuga Labs<\/strong> engaged in securities violations, providing much-needed <strong>legal clarity<\/strong> to the broader NFT ecosystem. The decision is expected to <strong>boost market confidence<\/strong> and set a precedent for how regulators classify digital collectibles moving forward.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Robinhood CEO Predicts Tokenization Boom<\/h4>\n\n\n\n<p>At the <strong>Token2049 Conference in Singapore<\/strong>, <strong>Robinhood CEO Vlad Tenev<\/strong> predicted that <strong>asset tokenization<\/strong> could become mainstream within <strong>five years<\/strong>, describing it as \u201ca freight train that can\u2019t be stopped.\u201d Tenev suggested that tokenized real-world assets (RWAs) could \u201ceventually eat the entire financial system,\u201d as more markets adopt blockchain-based frameworks.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Sui to Launch Dual Stablecoins<\/h4>\n\n\n\n<p><strong>Sui Group Holdings<\/strong>, listed on Nasdaq, announced plans to issue <strong>two stablecoins<\/strong> on its <strong>Layer-1 blockchain<\/strong> \u2014 the <strong>yield-bearing suiUSDe<\/strong> and the <strong>non-yield USDi<\/strong>. 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.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">UK Government Eyes $7B Bitcoin Seizure<\/h4>\n\n\n\n<p>In one of the <strong>largest crypto seizures in law enforcement history<\/strong>, UK authorities are seeking to retain approximately <strong>$7 billion in Bitcoin<\/strong> linked to a <strong>Chinese investment fraud case<\/strong>.<\/p>\n\n\n\n<p>Defendant <strong>Zhimin Qian<\/strong> pleaded guilty at <strong>Southwark Crown Court<\/strong> to <strong>possessing and transferring criminal property<\/strong>, following a related conviction of her assistant in 2024. The seizure underscores governments\u2019 growing capacity to trace and recover illicit digital assets.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Ethereum\u2019s Fusaka Upgrade Passes Key Test<\/h4>\n\n\n\n<p>Ethereum achieved another technical milestone as its <strong>Fusaka upgrade<\/strong> successfully launched on the <strong>Holesky testnet<\/strong>. The update introduces <strong>PeerDAS<\/strong>, a feature allowing validators to verify <strong>partial data instead of entire chunks<\/strong>, which reduces operational costs for <strong>Layer-2 networks and validators<\/strong>.<\/p>\n\n\n\n<p>With testing complete, mainnet deployment is expected in the coming months a crucial step toward improving Ethereum\u2019s scalability and efficiency.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">SBI Crypto Suffers $21M Exploit<\/h4>\n\n\n\n<p>Japanese firm <strong>SBI Crypto<\/strong>, a subsidiary of <strong>SBI Group<\/strong>, suffered an exploit resulting in <strong>$21 million in losses<\/strong>. Blockchain investigator <strong>ZachXBT<\/strong> reported that funds were stolen across <strong>Bitcoin, Ethereum, Litecoin, Dogecoin, and Bitcoin Cash<\/strong>, with the stolen assets later funneled through <strong>Tornado Cash<\/strong>.<\/p>\n\n\n\n<p>Analysts suspect <strong>North Korean hacking patterns<\/strong>, continuing a trend of state-linked cyberattacks targeting major crypto firms.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">World Liberty Financial Pushes Commodity Tokenization<\/h4>\n\n\n\n<p>At Token2049, <strong>World Liberty Financial CEO Zack Witkoff<\/strong> revealed plans to tokenize <strong>commodities such as oil, gas, cotton, and timber<\/strong>. The initiative is reportedly backed by <strong>Donald Trump<\/strong> and tied to the <strong>USD1 stablecoin<\/strong>, designed to support <strong>U.S. Treasury purchases<\/strong> and bolster <strong>dollar dominance<\/strong>.<\/p>\n\n\n\n<p>Despite political controversy, <strong>Donald Trump Jr.<\/strong> defended the project, emphasizing it as an <strong>economic initiative<\/strong> rather than a political one.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Binance Warns of Compromised BNB Chain Account<\/h4>\n\n\n\n<p>The <strong>official BNB Chain X account<\/strong> was briefly compromised this week, prompting <strong>Binance co-founder Changpeng Zhao (CZ)<\/strong> to warn users against interacting with fake posts promising <strong>$BSC rewards<\/strong> and \u201cearly distributions.\u201d Binance swiftly regained control of the account and confirmed no user funds were affected.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Ripple CTO Announces Transition<\/h4>\n\n\n\n<p>After more than <strong>13 years<\/strong> at Ripple, <strong>CTO David Schwartz<\/strong> announced plans to <strong>step back from day-to-day operations<\/strong> 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.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Robinhood Explores Prediction Markets<\/h4>\n\n\n\n<p><strong>Robinhood<\/strong> is reportedly in discussions with <strong>UK regulators<\/strong>, including the <strong>Financial Conduct Authority (FCA)<\/strong>, to expand into <strong>international prediction markets<\/strong>. The company aims to offer blockchain-based forecasting products outside the U.S., pending regulatory approval.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Tether Expands Bitcoin Reserves<\/h4>\n\n\n\n<p><strong>Tether<\/strong>, the world\u2019s largest stablecoin issuer, added <strong>$1 billion worth of Bitcoin<\/strong> to its reserves, bringing total holdings to <strong>$9.7 billion<\/strong>. Blockchain data shows that 8,889 BTC were transferred from a <strong>Bitfinex-linked wallet<\/strong> to Tether\u2019s <strong>reserve address<\/strong> as <strong>USDT\u2019s supply nears $175 billion<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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,&#8230;<\/p>\n","protected":false},"author":3,"featured_media":11790,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63,70],"tags":[69,65,1707],"class_list":["post-11789","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-finance","tag-bitcoin","tag-crypto","tag-nfts"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Weekly Crypto Recap: Bitcoin Hits Record High, Coinbase Seeks U.S. Trust Charter, and Court Rules Bored Apes Aren\u2019t Securities - Crypto News<\/title>\n<meta name=\"description\" content=\"This week in crypto: Bitcoin reached a new all-time high above $125,000, Coinbase filed for a U.S. national trust charter, and a court ruled Bored Ape NFTs aren\u2019t securities. 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