Brussels eyes a turbocharged single market as ESMA readies a power-up over exchanges and post-trade pipes (1:14). Türkiye reels after Thodex founder Faruk Fatih Ozer is found dead, closing a scandal that reshaped a region's risk radar (3:14). New questions surround the British royals and their connections to a failed American crypto mining project (4:57), and a pushed deadline by the SEC hands crypto exchanges fresh legal ammo (6:51).

This is your essential update on the forces shaping what's next in money.

More on stories and articles discussed or referenced in this episode:

Abrams, Zack. "CEO of Collapsed Thodex Exchange Found Dead in Turkish Prison While Serving 11,196-Year Sentence: Report." The Block, 1 November 2025, https://www.theblock.co/post/377170/ceo-of-collapsed-thodex-exchange-found-dead-in-turkish-prison-while-serving-11196-year-sentence-report.

Ayan, Amin. "Thodex Founder Faruk Fatih Ozer Found Dead in Turkish Prison While Serving 11,000-Year Sentence." Cryptonews, 2 November 2025, https://cryptonews.com/news/thodex-founder-faruk-fatih-ozer-found-dead-in-turkish-prison-while-serving-11000-year-sentence/.

Irene, Nellius. "EU Empowers ESMA to Oversee Stock and Crypto Exchanges." Cryptopolitan, 2 November 2025, https://www.cryptopolitan.com/eu-puts-crypto-exchanges-under-esma/.

Kenber, Billy and Phil Kemp. "Andrew Fixed Palace Visit for Firm with £1.4M Deal with Ex-Wife." BBC News, 2 November 2025, https://www.bbc.com/news/articles/cy5q05v0q1xo.

Matos, Gino. "SEC Just Gave Crypto Lawyers a New Way to Win in Court." CryptoSlate, 1 November 2025, https://cryptoslate.com/sec-just-gave-crypto-lawyers-a-new-way-to-win-in-court/.

Tamma, Paolo. "EU Set to Expand Supervision of Stock and Crypto Exchanges." The Financial Times, 2 November 2025, https://www.ft.com/content/0727d3da-d901-4074-bcde-8be675a0931f.

The music in this episode was composed by Liborio Conti, and you can find more of his fantastic work at his YouTube page: https://www.youtube.com/liborioconti.

Europe's digital cash experiment is shifting from research to real-world architecture, with the ECB prioritizing privacy, accessibility, and even offline payments as it targets readiness later this decade (1:06). In the U.S., Truth Social's tie-up with Crypto.com to enable prediction markets is colliding with state gambling laws and raising questions about federal oversight and ethics (3:02). Japan is tightening its crypto framework, prompting Bybit to pause its opening of new accounts in the country (5:01). Finally, Thai authorities arrest a Chinese national accused of running FINTOCH, a high-yield scam that used a fictional executive and false bank affiliations to lure investors (6:50).

This is your essential update on the forces shaping what's next in money.

More on stories and articles discussed or referenced in this episode:

Clarke, Anthony, "Thai Police Bust $14M Crypto Ponzi Mastermind in Bangkok." 99 Bitcoins, 30 October 2025, https://99bitcoins.com/news/bitcoin-btc/thai-police-bust-14m-crypto-ponzi-mastermind-in-bangkok/.

Gentry, Dana. "Trump Partners with Crypto Betting Platform Suing Nevada, Other States." The Nevada Current, 30 October 2025, https://nevadacurrent.com/2025/10/30/trump-partners-with-crypto-betting-platform-suing-nevada-other-states/.

Luiv, Sven. "Bybit Stops Taking New Japanese Users as Crypto Rules Tighten." Brave New Coin, 30 October 2025, https://bravenewcoin.com/insights/bybit-stops-taking-new-japanese-users-as-crypto-rules-tighten.

Peyton, Antony. "ECB Aims for 2029 Digital Euro Launch." TechRepublic, 30 October 2025, https://www.techrepublic.com/article/news-digital-euro-launch/.

"Progress on the Preparation Phase of a Digital Euro." European Central Bank, 30 October 2025, https://www.ecb.europa.eu/euro/digital_euro/progress/html/ecb.deprp202510.en.html.

The music in this episode was composed by Liborio Conti, and you can find more of his fantastic work at his YouTube page: https://www.youtube.com/liborioconti.

Reports point to Mastercard nearing a $1.5–$2B purchase of Zerohash, reflecting the race to own the rails for stablecoin payments and tokenized services (1:20). China's enforcement push: Courts issue prison sentences tied to an illicit USDT channel as top officials underscore risks from dollar-pegged tokens (2:59).

DBS and Goldman Sachs complete a bank-to-bank, cash-settled options trade on BTC and ETH in another step toward institutional hedging and liquidity in digital assets (4:55).

MoviePass launches a fantasy/prediction game for movies, actors, and directors, with real-money features on the roadmap (6:15).

This is your essential update on the forces shaping what's next in money.

More on stories and articles discussed or referenced in this episode:

Beganski, André. "MoviePass Debuts Crypto-Based Predictions for Box Office Performances." Decrypt, 29 October 2025, https://decrypt.co/346653/moviepass-crypto-based-predictions-box-office-performances.

Hassan, Anas. "China Jails Five for $166M Crypto Money Laundering Scheme." Cryptonews, 29 October 2025, https://cryptonews.com/news/china-jails-five-for-166m-crypto-money-laundering-scheme/.

Reynolds, Sam. "DBS, Goldman Sachs Execute First Over-the-Counter Interbank Crypto Options Trade." 29 October 2025, CoinDesk, https://www.coindesk.com/markets/2025/10/29/dbs-goldman-sachs-execute-first-over-the-counter-interbank-crypto-options-trade.

Weiss, Ben and Leo Schwartz. "Exclusive: Mastercard Poised to Acquire Crypto Startup Zerohash for Nearly $2 billion, Sources Say." Fortune, 29 October 2025, https://fortune.com/crypto/2025/10/29/mastercard-zerohash-acquisition-bvnk-stablecoins-coinbase/.

The music in this episode was composed by Liborio Conti, and you can find more of his fantastic work at his YouTube page: https://www.youtube.com/liborioconti.

Reuters pulls back the curtain on the Trump family's crypto footprint, from governance tokens and overseas buyers to the policy and ethics questions that follow (1:03). We break down Trump Media's upcoming "Truth Predict" venture with Crypto.com, and why prediction markets are suddenly everywhere (3:11). Western Union outlines a Solana-powered dollar token with bank-grade issuance that could compress cross-border costs for millions (4:44). And Beeline debuts a blockchain-tracked way to unlock home value without taking on new monthly payments (6:04).

This is your essential update on the forces shaping what's next in money.

More on stories and articles discussed or referenced in this episode:

"Beeline Launches Nation's First Blockchain-Powered Home Equity Platform — Begins Scaling Nationwide." Beeline Holdings Press Release, 26 October 2025, https://makeabeeline.com/blog/beeline-launches-blockchain-powered-home-equity-platform.

Delozier, Jonathan. "Beeline Loans Pioneers Blockchain Home Equity Transactions." HousingWire, 27 October 2025, https://www.housingwire.com/articles/beeline-loans-pioneers-blockchain-home-equity-transactions/.

Di Salvo, Mat. "Trump Media to Join with Crypto.com in Prediction Market Push." Decrypt, 28 October 2025, https://decrypt.co/346398/trump-media-join-crypto-com-prediction-market-push.

Garcia, Carlos. "Trump Media Firm Dives into Red Hot Prediction Markets, in Tie-Up with Crypto.com." Fortune, 28 October 2025, https://fortune.com/crypto/2025/10/28/trump-media-prediction-markets-crypto/.

Gauthier-Villars, David et al. "Inside the Trump Family's Global Crypto Cash Machine." Reuters, 28 October 2025, https://www.reuters.com/investigations/inside-trump-familys-global-crypto-cash-machine-2025-10-28/.

Ge Huang, Vicky. "Western Union, Early Telegraph Pioneer, Joins the Crypto Arms Race." The Wall Street Journal, 28 October 2025, https://www.wsj.com/finance/western-union-early-telegraph-pioneer-joins-the-crypto-arms-race-a0aa7f02.

The music in this episode was composed by Liborio Conti, and you can find more of his fantastic work at his YouTube page: https://www.youtube.com/liborioconti.

IBM unveils an institution-grade crypto stack built for custody, compliance, and scale (1:16). The NYSE posts notices that could usher in spot ETFs for assets beyond BTC and ETH (3:12). An Indian high court cements crypto's status as property, reshaping investor protections (4:40); and Ferrari turns a headline race car into a token-gated auction experience (6:34).

This is your essential update on the forces shaping what's next in money.

More on stories and articles discussed or referenced in this episode:

Braun, Helene. "NYSE Lists Solana, Hedera, Litecoin Spot Crypto ETFs for Trading This Week." 27 October 2025, https://www.coindesk.com/markets/2025/10/27/nyse-lists-solana-hedera-litecoin-spot-crypto-etfs-for-trading-this-week.

"IBM Announces New Platform for Financial Institutions and Regulated Enterprises Entering the Digital Asset Economy." IBM Newsroom, 27 October 2025, https://newsroom.ibm.com/ibm-digital-asset-haven.

Jha, Prashant. "WazirX Case Leads to Landmark Indian Ruling: Crypto Now Recognized as 'Property' Under Law." CCN, 27 October 2025, https://www.ccn.com/news/crypto/madras-high-court-crypto-as-property-under-indian/.

Neff, Natalie. "Ferrari Mixes Racing Heritage with Crypto Tech in 499P Token Bid." Autoweek, 27 October 2025, https://www.autoweek.com/news/a69165540/ferrari-499p-crypto-auction/.

Piovaccari, Giulio. "Ferrari Aims at AI Generation with Crypto Auction for Le Mans Car." Reuters, 27 October 2025, https://www.reuters.com/business/autos-transportation/ferrari-aims-ai-generation-with-crypto-auction-le-mans-car-2025-10-25/.

The music in this episode was composed by Liborio Conti, and you can find more of his fantastic work at his YouTube page: https://www.youtube.com/liborioconti.

Alt5 Sigma pauses its new chief while deepening ties to a high-profile token venture (1:13). The administration nominates Mike Selig to head the CFTC, a move that could reshape the regulatory map for digital assets (2:59). Crypto.com seeks a federal trust bank charter with the OCC to streamline national custody and staking for big-money clients (4:37). And JPMorgan plans to recognize BTC and ETH as collateral, part of a broader strategy shift as banks and asset managers fold crypto into everyday market plumbing (6:17).

This is your essential update on the forces shaping what's next in money.

More on stories and articles discussed or referenced in this episode:

Abrams, Zack. "Crypto.com seeks OCC federal charter, joining Coinbase, Ripple, and others." The Block, 25 October 2025, https://www.theblock.co/post/376166/crypto-com-seeks-occ-federal-charter-joining-coinbase-ripple-and-others.

"Crypto.com Files National Trust Bank Charter Application." Crypto.com Company News, 24 October 2025, https://crypto.com/us/company-news/cryptocom-files-national-trust-bank-charter-application.

Dioquino, Vince. "JPMorgan to Let Clients Use Bitcoin and Ethereum as Collateral for Loans: Report." Decrypt, 24 October 2025, https://decrypt.co/345831/jpmorgan-to-let-clients-use-bitcoin-and-ether-as-collateral-for-loans-report.

Everson, Zach. "Trump Crypto Partner Suspends CEO With No Explanation After Stock Falls 74%." Fortune, 24 October 2025, https://www.forbes.com/sites/zacheverson/2025/10/24/trump-crypto-partner-suspends-ceo-with-no-explanation-after-stock-falls-74/.

Harty, Declan. "Trump Taps Crypto Regulator Mike Selig as New CFTC Chair Nominee." Politico, 25 October 2025, https://www.politico.com/news/2025/10/25/trump-mike-selig-cftc-00621525.

Kinder, Kathleen. "Crypto.com Files for U.S. Bank Charter to Boost Custody and Compliance." CoinLaw, 24 October 2025, https://coinlaw.io/crypto-com-us-bank-charter-custody-compliance/.

Mancini, Ryan. "Trump Taps Crypto Regulator Mike Selig to Run CFTC after Pulling Nominee." The Hill, 25 October 2025, https://thehill.com/homenews/administration/5573205-trump-nominates-mike-selig-cftc/.

Nicolle, Emily. "JPMorgan to Allow Bitcoin and Ether as Collateral in Crypto Push." Bloomberg, 24 October 2025, https://www.bloomberg.com/news/articles/2025-10-24/jpmorgan-to-allow-bitcoin-ether-as-collateral-in-crypto-push.

Turakhiya, Parshwa. "'Pet Rock' No More: JPMorgan to Accept Bitcoin, Ethereum as Collateral." Benzinga, 24 October 2025, https://finance.yahoo.com/news/pet-rock-no-more-jpmorgan-013104388.html.

The music in this episode was composed by Liborio Conti, and you can find more of his fantastic work at his YouTube page: https://www.youtube.com/liborioconti.

A U.S. presidential pardon grants a second act to Binance's founder and sets off an ethical storm around exchange ties to a Trump-branded venture (1:00). A newly filed class action claims a memecoin promoted by Melania Trump was part of a coordinated "pump-and-dump" engine, with whistleblower receipts and big-name operators in the mix (2:42).

In Europe, the EU's latest Russia package trains its sights on digital-asset channels thought to be helping skirt restrictions, while the U.S. targets oil giants to amplify pressure (4:23).

Finally, T. Rowe Price leans into active management with a multi-coin ETF that adjusts exposures in real time, pending regulatory greenlight (5:58).

This is your essential update on the forces shaping what's next in money.

More on stories and articles discussed or referenced in this episode:

Ballhaus, Rebecca et al. "Trump Pardons Convicted Binance Founder." The Wall Street Journal, 23 October 2025, https://www.wsj.com/finance/currencies/trump-binance-changpeng-zhao-pardon-7509bd63.

Garcia, Carlos and Ben Weiss. "Melania Trump Memecoin Team 'Weaponized Fame to Disarm Diligence' in Sprawling Crypto Conspiracy, Alleges Court Filing." Fortune, 23 October 2025, https://fortune.com/crypto/2025/10/23/melania-trump-memecoin-conspiracy-court-filing-benjamin-chow-hayden-davis/.

Nawrocki, Tom. "T. Rowe Price Proposes First Actively Managed Crypto ETF." PaymentsJournal, 23 October 2025, https://www.paymentsjournal.com/t-rowe-price-proposes-first-actively-managed-crypto-etf/.

Robins-Early, Nick. "Trump Pardons Founder of Binance, World's Largest Crypto Exchange." The Guardian, 23 October 2025, https://www.theguardian.com/technology/2025/oct/23/binance-trump-pardon-changpeng-zhao.

Smialek, Jeanna. "E.U. Approves Sweeping Sanctions Targeting Russian Gas and Crypto." The New York Times, 23 October 2025, https://www.nytimes.com/2025/10/23/world/europe/eu-russia-sanctions.html.

The music in this episode was composed by Liborio Conti, and you can find more of his fantastic work at his YouTube page: https://www.youtube.com/liborioconti.

A16z's latest snapshot shows that the industry is maturing: faster chains, surging stablecoin settlement, and onchain markets that really earn (1:15). In Washington, both parties are huddling with industry execs as a framework for U.S. crypto rules inches forward (3:49). North of the border, Canada slaps a jaw-dropping AML penalty on a platform accused of egregious reporting lapses (5:35). And in London, the UK watchdog takes a crypto exchange to court over alleged promotions that flouted local rules (7:19).

This is your essential update on the forces shaping what's next in money.

More on stories and articles discussed or referenced in this episode:

Hamilton, Jesse. "U.S. Senate Democrats Assure Crypto CEOs They're Still Willing to Move Legislation." CoinDesk, 22 October 2025, https://www.coindesk.com/policy/2025/10/22/u-s-senate-democrats-assure-crypto-ceos-they-re-still-willing-to-move-legislation.

Keidan, Maiya. "Canada Fines Crypto Dealer Record C$176.9 Million for Money Laundering." Reuters, 22 October 2025, https://www.reuters.com/world/canada-fines-crypto-dealer-record-c1769-million-money-laundering-2025-10-22/.

Matsuoka, Daren et al. "State of Crypto 2025." a16z Crypto, 22 October 2025, https://a16zcrypto.com/posts/article/state-of-crypto-report-2025/.

Wynn, Sarah. "Tensions Rise as Senate Democrats, Crypto Executives Meet on Sweeping Digital Assets Bill." The Block, 22 October 2025, https://www.theblock.co/post/375770/tensions-rise-as-senate-democrats-crypto-executives-meet-on-sweeping-digital-assets-bill.

Vasileva, Hristina. "UK Financial Regulator Sues HTX for Unlawful Asset Promotion." Cryptopolitan, 22 October 2025, https://www.cryptopolitan.com/uk-financial-regulator-sues-htx/.

The music in this episode was composed by Liborio Conti, and you can find more of his fantastic work at his YouTube page: https://www.youtube.com/liborioconti.

Coinbase goes shopping again, snapping up Echo to fold cutting-edge fundraising tools into its empire (1:22). The Federal Reserve cracks the door for crypto-focused institutions with limited "skinny" access to its rails (2:38). Wisconsin's pension giant pulls off a swift Bitcoin-linked trade and reignites the public-funds debate (4:36), and BlackRock brings a low-fee Bitcoin ETP to the London Stock Exchange, tightening the link between traditional finance and digital assets (6:33).

This is your essential update on the forces shaping what's next in money.

More on stories and articles discussed or referenced in this episode:

L., Fenelon. "The Fed Opens the Door to Crypto at an Unprecedented Washington Summit." CoinTribune, 21 October 2025, https://www.cointribune.com/en/the-fed-opens-the-door-to-cryptos-in-an-unprecedented-summit-in-washington/.

Lutz, Sander. "Fed Considering 'Skinny' Master Accounts for Crypto Banks on 'Streamlined Timeline'." Decrypt, 21 October 2025, https://decrypt.co/345255/fed-considering-skinny-master-accounts-crypto-banks.

Park, Danny. "Coinbase Is Buying Crypto Investment Platform Echo for $375 million." The Block, 21 October 2025, https://www.theblock.co/post/375486/coinbase-buying-echo.

Thomas, Lauren. "Coinbase Strikes Deal for Crypto-Investing Platform Echo." Wall Street Journal, 21 October 2025, https://www.wsj.com/finance/coinbase-strikes-deal-for-crypto-investing-platform-echo-86954fd5.

Torres, Ricardo. "State investment board divests from crypto funds after making more than $200 million." Milwaukee Journal Sentinel, 21 October 2025, https://www.jsonline.com/story/money/business/2025/10/21/state-investment-board-divests-from-crypto-funds-making-millions/86691852007/.

Waller, Christopher J. "Embracing New Technologies and Players in Payments." Speech, Payments Innovation Conference, Board of Governors of the Federal Reserve System, 21 October 2025, https://www.federalreserve.gov/newsevents/speech/waller20251021a.htm.

Zimmerman, Micah. "BlackRock Launches Bitcoin ETP on London Stock Exchange as UK Lifts Crypto Ban." Bitcoin Magazine, 21 October 2025, https://bitcoinmagazine.com/business/blackrock-launches-bitcoin-etp-on-lse.

The music in this episode was composed by Liborio Conti, and you can find more of his fantastic work at his YouTube page: https://www.youtube.com/liborioconti.

An AWS outage knocks pillars of the internet and crypto off balance, reigniting debates about resilience and vendor dependence (1:13). In D.C., the government shutdown stalls ETF timelines as Senate Democrats plan to convene with top crypto firms, the House–Senate split over oversight widens, and the CFTC courts industry input (3:14).

We also break down "Alpha Arena," an AI trading contest where LLMs manage live crypto portfolios, highlighting both performance and misuse risks (5:21). Finally, we head to British Columbia, where new legislation curbs grid access for AI data centers and halts new crypto mining connections while prioritizing projects tied to jobs, revenue, and a huge transmission build-out (6:58).

This is your essential update on the forces shaping what's next in money.

More on stories and articles discussed or referenced in this episode:

Adejumo, Oluwapelumi. "How Today's AWS Glitch took Down Coinbase, ETH L2s, and Half the Internet." CryptoSlate, 20 October 2025, https://cryptoslate.com/aws-failure-exposes-cryptos-centralized-weak-point/.

"British Columbia to Limit AI Power Use, Ban Crypto Mining." Investing.com, 20 October 2025, https://investing.com/news/world-news/british-columbia-to-limit-ai-power-use-ban-crypto-mining-93CH-4297933.

Ciccomascolo, Giuseppe. "Amazon's AWS Outage Knocks Coinbase, Robinhood and Others Offline: Full List of Impacted Platforms." CCN, 20 October 2025, https://www.ccn.com/education/crypto/aws-outage-coinbase-robinhood-venmo-list-of-affected-platforms/.

"DeepSeek Outperforms Grok, Claude in AI Crypto Trading Contest." Protos, 20 October 2025, https://protos.com/deepseek-outperforms-grok-claude-in-ai-crypto-trading-contest/.

Lazurek, Jacob. "Crypto Leaders Meet Senate Democrats on Stalled Market Bill." FX Street, 20 October 2025, https://www.fxstreet.com/cryptocurrencies/news/crypto-leaders-meet-senate-democrats-on-stalled-market-bill-202510201047.

Kostar, Nate. "US Shutdown Nears Fourth Week as Senate Democrats Plan Crypto Roundtable." CoinTelegraph, 20 October 2025, https://cointelegraph.com/news/us-shutdown-third-week-senate-democrats-plan-crypto-roundtable.

The music in this episode was composed by Liborio Conti, and you can find more of his fantastic work at his YouTube page: https://www.youtube.com/liborioconti.