Beijing taps the brakes on Hong Kong's stablecoin ambitions, stalling plans from mainland tech giants and highlighting the tug-of-war with the e-CNY (1:02). MrBeast hints at a finance play with a trademark that spans exchanges, payments, and more (2:52). Japan weighs letting banks hold crypto and even run exchanges, potentially ushering digital assets into everyday finance (4:30). And Portugal fast-tracks EU-style rules like MiCA, tougher AML, and instant euro transfers while giving the industry time to adjust (6:16).

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. "Beijing Moves to Stop Chinese Tech Giants from Issuing Stablecoins in Hong Kong: FT." The Block, 19 October 2025, https://www.theblock.co/post/375210/beijing-moves-to-stop-chinese-tech-giants-from-issuing-stablecoins-in-hong-kong-ft.

Jones, Stacy. "YouTube Star MrBeast Files Trademark for Crypto Exchange and Payments Service." Decrypt, 17 October 2025, https://decrypt.co/344809/youtube-star-mrbeast-trademark-crypto-exchange.

Munene, Kelvin. "Japan's FSA May Allow Banks to Hold Bitcoin and Operate Crypto Exchanges." Coin Central, 19 October 2025, https://coincentral.com/japans-fsa-may-allow-banks-to-hold-bitcoin-and-operate-crypto-exchanges/.

"New Cryptocurrency Rules for Portugal." The Portugal News, 17 October 2025, https://www.theportugalnews.com/news/2025-10-17/new-cryptocurrency-rules-for-portugal/903858.

Nguyen, Vivian. "Japan Mulls Rule Change to Let Banks Hold Bitcoin, Crypto for Investment." Crypto Briefing, 19 October 2025, https://cryptobriefing.com/banks-invest-bitcoin-japan-rule/.

Rodrigues, Francisco. "Richest YouTube Star MrBeast's Firm Files Trademark with Crypto Ambitions." CoinDesk, 18 October 2025, https://www.coindesk.com/business/2025/10/18/richest-youtube-star-mrbeast-s-firm-files-trademark-with-crypto-ambitions.

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.

The Financial Stability Board warns of fragmented global oversight and recent market turbulence puts coordination back on the agenda (1:01). Europe sees momentum under MiCA, from rising volumes to the ascent of euro-denominated stablecoins and growing DeFi participation (2:47).

Plus: Newsmax plans a crypto reserve that mixes brand identity with asset allocation (4:49), and BlackRock unveils a GENIUS Act–aligned fund designed for stablecoin issuers, another step in the build-out of regulated, institutional rails (5:54).

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:

Cloonan, Kelly. "Newsmax to Start Crypto Reserve Including Bitcoin, Trump Coin." Wall Street Journal. "." 16 October 2025, https://www.wsj.com/finance/currencies/newsmax-to-start-crypto-reserve-including-bitcoin-trump-coin-4c943070.

"European Crypto Adoption Highlights a Patchwork of Convergence and Transformation." Chainalysis, 16 October 2025, https://www.chainalysis.com/blog/europe-crypto-adoption-2025/.

Howcroft, Elizabth and Marc Jones. "G20 Risk Watchdog Warns of 'Significant Gaps' in Global Crypto Rules." Reuters, 16 October 2025, https://www.reuters.com/sustainability/boards-policy-regulation/g20-risk-watchdog-warns-significant-gaps-global-crypto-rules-2025-10-16/.

Shibu, Ann Maria. "BlackRock Deepens Crypto Market Bet with New Stablecoin Reserve Fund." BeInCrypto.com,16 October 2025, https://beincrypto.com/blackrock-stablecoin-reserve-fund/.

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.

Mining meets politics as questions swirl around a preferential hardware deal tied to Eric Trump's venture (1:09). OCC grants a conditional charter to Erebor Bank while Sony seeks a national trust path for stablecoins (2:52). OpenSea moves beyond JPEGs to an integrated, non-custodial trading platform across many chains (4:41). And NYC launches an office to align agencies, industry, and public education around digital assets (6:42).

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:

Elliot, Stacy. "Sony Wants Its Own Crypto Bank Too." Decrypt, 15 October 2025, https://finance.yahoo.com/news/sony-wants-own-crypto-bank-163449848.html.

"Executive Order 57." Office of the Mayor, City of New York, 14 October 2025, https://www.nyc.gov/content/dam/nycgov/mayors-office/downloads/pdf/executive-orders/2025/eo-57.pdf.

Hamilton, Jesse. "Crypto Bank Erebor Approved for Conditional Federal Bank Charter by OCC." CoinDesk, 15 October 2025, https://www.coindesk.com/policy/2025/10/15/crypto-bank-erebor-approved-for-conditional-federal-bank-charter-by-occ.

Kauflin, Jeff. "Former NFT Specialist OpenSea Is Remaking Itself into a Crypto Trading Aggregator." Forbes, 15 October 2025, https://www.forbes.com/sites/jeffkauflin/2025/10/15/former-nft-specialist-opensea-is-remaking-itself-into-a-crypto-trading-aggregator/.

Rajkumari, Pooja. "NYC Launches Office of Digital Assets and Blockchain Technology." The Street, 15 October 2025, https://www.thestreet.com/crypto/policy/nyc-launches-office-of-digital-assets-blockchain-technology.

Roston, Aram. "Chinese Company Gives an Eric Trump Crypto Firm Preferential Access to Tech." The Guardian, 15 October 2025, https://www.theguardian.com/us-news/2025/oct/15/eric-trump-crypto-china-bitmain.

Sundararajan, Sujha. "NYC Mayor Establishes 'Nation's-First' Crypto-Centric Office Ahead of His Exit." Cryptonews.com, 15 October 2025, https://cryptonews.com/news/nyc-mayor-establishes-nations-first-crypto-centric-office-ahead-of-his-exit/.

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.

The U.S. Department of Justice unseals charges against Chen Zhi, links a continent-spanning scam network to forced labor, sanctions, and a historic bitcoin seizure (1:18). Binance and BNB-ecosystem partners commit over $700M to reimburse users and support liquidity after last week's liquidations (3:24). "Pixnapping" shows how malicious apps can infer what's on your screen, putting 2FA codes and seed phrases at risk (4:46). And Roger Ver resolves a years-long tax dispute with a payment approaching $50M (6:22).

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:

"Financial Sanctions Notice: Global Human Rights." Office of Financial Sanctions Implementation, HM Treasury (UK), 14 October 2025, https://assets.publishing.service.gov.uk/media/68edf4d5e7b6794c076bbdc1/Notice_Global_Human_Rights_141025.pdf.

Hitchcock, Logan. "Binance Offers Another $400M to Traders After Crypto Crash Triggers Record Liquidations." 14 October 2025, https://decrypt.co/344270/binance-offers-400m-traders-crypto-crash-triggers-record-liquidations.

Luiv, Sven. "New Android Attack 'Pixnapping' Threatens Crypto Wallet Security." Brave New Coin, 15 October 2025, https://bravenewcoin.com/insights/new-android-attack-pixnapping-threatens-crypto-wallet-security.

Mangan, Dan. "DOJ Seizes $15 Billion in Bitcoin from Massive 'Pig Butchering' Scam Based in Cambodia." 14 October 2025, https://www.cnbc.com/2025/10/14/bitcoin-doj-chen-zhi-pig-butchering-scam.html.

"Prince Group Targeted with $15B Crypto Seizure and Sanctions for Pig Butchering Operations." Elliptic Blog, 14 October 2025, https://www.elliptic.co/blog/prince-group-targeted-with-crypto-sanctions-for-global-pig-butchering-operations.

Raymond, Nate and Sarah N. Lynch. "'Bitcoin Jesus' Strikes Deal with Trump Administration to Resolve US Tax Charges." Reuters, 14 October 2025, https://www.reuters.com/world/crypto-investor-bitcoin-jesus-reaches-deal-resolve-us-tax-charges-2025-10-14/.

Sisak, Michael R. and Jack Brook. "US Charges Cambodian Executive in Massive Crypto Scam and Seizes More than $14 Billion in Bitcoin." Associated Press, 14 October 2025, https://apnews.com/article/cryptocurrency-crypto-bitcoin-cambodia-pig-butchering-dfd6833904cf539d680e381ad8d0eb6c.

"U.S. and U.K. Take Largest Action Ever Targeting Cybercriminal Networks in Southeast Asia." U.S. Department of the Treasury, 14 October 2025, https://home.treasury.gov/news/press-releases/sb0278.

Weiss, Ben. "'Bitcoin Jesus' Reaches $50 Million Deal with DOJ to Dismiss Tax Evasion Charges." Fortune, 14 October 2025, https://fortune.com/crypto/2025/10/14/roger-ver-bitcoin-jesus-doj-indictment-dismissed-50-million-tax-evasion/.

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.

Institutional custody is nearing prime time (1:07), Big Law is busy across IPOs and consolidation (2:43), a headline-grabbing Ethereum case tests the limits of on-chain tactics (4:28), and Kenya presses forward with a national rulebook for digital assets (5:53).

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:

Becker, Sam. "Is Citi About to Make Crypto Boring—and Safe?" Fast Company, 13 October 2025, https://www.fastcompany.com/91421058/citi-crypto-safe.

Italiano, Laura and Natalie Musumeci. "The Feds Say Two Brothers Stole $25 Million in Crypto in 12 Seconds. The Defense Says They Merely Outsmarted Bots." Business Insider, 13 October 2025, https://www.businessinsider.com/crypto-brothers-peraire-bueno-trial-heist-ethereum-blockchain-arguments-2025-10.

Kharpal, Arjun. "Citi Targets 2026 Launch for Crypto Custody Service as Wall Street Dives Deeper into Digital Assets." CNBC, 13 October 2025, https://www.cnbc.com/2025/10/13/citi-aims-to-launch-crypto-custody-in-2026-exploring-stablecoin.html.

Miriri, Duncan. "Kenya Parliament Passes Crypto Asset Law to Boost Investments." Reuters, 13 October 2025, https://www.reuters.com/business/media-telecom/kenya-parliament-passes-crypto-asset-law-boost-investments-2025-10-13/.

Smith, Patrick. "Big Law Looks to Cash in on Crypto Push." Law.com, 13 October 2025, https://www.law.com/2025/10/13/big-law-looks-to-cash-in-on-crypto-push.

"Unlocking Billions: Kenya's New Crypto Law Aims to Supercharge Investments." Modern Diplomacy, 13 October 2025, https://moderndiplomacy.eu/2025/10/13/unlocking-billions-kenyas-new-crypto-law-aims-to-supercharge-investments/.

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 historic washout erased tens of billions in leveraged bets and exposed weak points in centralized exchange infrastructure (0:59), even as DeFi systems handled liquidations without blinking. We unpack the mechanics behind the cascade and why venue choice matters when spreads explode and risk engines bite (3:02).

The episode also reflects on the human side of this market with the reported death of Ukrainian trader and influencer Kostya Kudo (4:46) and then turns to policy: India and South Korea are intensifying tax enforcement on offshore activity, P2P flows, and cold-wallet holdings, signaling a tougher global posture toward undeclared crypto gains (6:37).

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. "Crypto Exchanges Trade Blame Over $20 Billion Market Liquidation." BeInCrypto.com, 12 October 2025, https://beincrypto.com/crypto-exchanges-trade-blame-for-market-crash/.

Ali, Syed Wahab. "Who Was Konstantin Galish? Ukrainian Crypto Blogger Found Dead in Lamborghini Amid Market Crash." Financial Express, 12 October 2025, https://www.financialexpress.com/world-news/who-was-konstantin-galish-ukrainian-crypto-blogger-found-dead-in-lamborghini-amid-market-crash/4007695/.

Bacon, Auzinea. "Trump's New 100% Tariffs on China Triggered an $18 Billion Crypto Sell-Off." CNN, 11 October 12, 2025, https://www.cnn.com/2025/10/11/business/trump-tariffs-crypto-selloff.

Bussey, Emma. "Crypto Trader Found Dead in Lamborghini in Kyiv as Market Plunges." Fox Business, 11 October 2025, https://www.foxbusiness.com/markets/crypto-trader-dies-suicide-amid-market-crash.

Genç, Ekin. "Binance Offers Compensation After $19Bn Crypto Crash that Crippled Centralised Exchanges, Boosted DeFi." DL News, 11 October 2025, https://finance.yahoo.com/news/binance-offers-compensation-19bn-crypto-173813630.html.

Hassan, Bilal. "South Korea Expands Crypto Tax Crackdown to Cold Wallets." Live Bitcoin News, 12 October 2025, https://www.livebitcoinnews.com/south-korea-expands-crypto-tax-crackdown-to-cold-wallets/.

Man, Jonathan. "Crypto Cleanse." X.com Article, 11 October 2025, https://x.com/0xChaosWalking/status/1977038613385789558.

Masnavi, Siamak. "Friday's $20B Crypto Market Meltdown: A Bitwise Portfolio Manager's Postmortem Analysis." CoinDesk, 11 October 2025, https://www.coindesk.com/markets/2025/10/12/friday-s-usd20b-crypto-market-meltdown-a-bitwise-portfolio-manager-s-postmortem-analysis.

Pan, David, et al. "Crypto Sees More Than $6 Billion in Liquidations." Bloomberg, 11 October 2025, https://finance.yahoo.com/news/trump-tariffs-upend-crypto-market-044855553.html.

Rajput, Rashmi and Sugata Ghosh. "Binance Wallets Decrypted—Taxman Moves in on Evaders." 12 October 2025, The Economic Times (India), https://economictimes.indiatimes.com/markets/cryptocurrency/binance-wallets-decryptedtaxman-moves-in-on-evaders/articleshow/124469585.cms.

"Ukrainian Crypto Influencer Konstantin Ganich Found Dead in Lamborghini During Market Crash." Express Tribune, 12 October 2025, https://tribune.com.pk/story/2571986/ukrainian-crypto-influencer-konstantin-ganich-found-dead-in-lamborghini-during-market-crash.

Zdravkov, Alexander. "India's Crypto Tax Enforcement Heats Up with Binance Users in the Crosshairs." CryptoDNES, 12 October 2025, https://cryptodnes.bg/en/indias-crypto-tax-enforcement-heats-up-with-binance-users-in-the-crosshairs/.

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 high-profile tax case involving an early Bitcoin backer appears headed toward a deal with U.S. authorities (1:00). Dragonfly's new research breaks down compensation across thousands of crypto roles (2:49). India's premier fintech conference drew global attention while keeping crypto in the background (4:35). In Japan, Binance and PayPay align to bring crypto for everyday payments closer to reality for tens of millions of users (6:26).

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:

"Binance Japan Enters into Capital and Business Alliance Agreement with PayPay." Press Release, Binance Japan Co., Ltd., 9 October 2025, https://prtimes.jp/main/html/rd/p/000000037.000126862.html.

Kalra, Jaspreet and Ashwin Manikandan. "India Leaves Crypto and Stablecoins at the Door in Fintech Jamboree." Reuters, 9 October 2025, https://finance.yahoo.com/news/india-leaves-crypto-stablecoins-door-115923788.html.

Skelly, Zackary and Chris Ahsing. "2024/2025 Crypto Compensation Report." Dragonfly, Undated, https://dccr.dragonfly.xyz/report.

Vogel, Kenneth P. and David Yaffe-Bellany. "Crypto Investor Known as 'Bitcoin Jesus' Reaches Deal with Prosecutors." New York Times, 9 October 2025, https://www.nytimes.com/2025/10/09/technology/roger-ver-bitcoin-justice-department-deal.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.

The market for tokenized stocks is booming and stirring up legal gray areas (0:56). The UK greenlights crypto ETNs for professional investors (2:41), while Buenos Aires unveils new tax rules for digital assets (4:25). Plus, Coinbase finally brings staking to New York users, citing state-level progress and pent-up demand (6:26).

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:

Basu, Anushka. "UK Lifts Ban on Crypto ETNs Today." The Street, 8 October 2025, https://www.thestreet.com/crypto/policy/uk-to-lift-ban-on-crypto-etns-today.

Goschenko, Sergio. "Buenos Aires Set to Hit Crypto Natives with New Tax Measures." Bitcoin.com News, 8 October 2025, https://news.bitcoin.com/buenos-aires-set-to-hit-crypto-natives-with-new-tax-measures/.

Grewal, Paul. "Staking Is Now Available in New York." Coinbase Blog, 8 October 2025, https://www.coinbase.com/blog/staking-is-now-available-in-new-york.

Lang, Hannah and Elizabeth Howcroft. "Crypto Race to Tokenize Stocks Raises Investor Protection Flags." Reuters, 8 October 2025, https://www.reuters.com/sustainability/boards-policy-regulation/crypto-race-tokenize-stocks-raises-investor-protection-flags-2025-10-08/.

Olveira, Dolores. "Impuesto Cripto en CABA: Cuál Será el Impacto en el Usuario y por qué Se Habla de una "Crisis Tributaria." iPro Up, 6 October 2025, https://www.iproup.com/finanzas/60653-criptomonedas-impuesto-en-caba-cuanto-hay-que-pagar-y-como-impacta-en-usuarios.

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.

S&P launches a cross-asset crypto index built with Dinari, delivering a new template for diversified exposure (1:15). ICE, parent of the NYSE, commits up to $2B to Polymarket and plans to distribute prediction-market data to institutions (2:55). Elliptic reports North Korea's crypto thefts have hit a new annual record, with tactics shifting toward social engineering and multi-chain laundering (4:21), and Russian officials seize more than 2,700 rigs in a St. Petersburg mining bust tied to years of masked electricity use (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:

Kuzmicheva, Anastasia. "More Than 2,700 Cryptocurrency Mining Devices Were Seized from an Underground Mining Operation in St. Petersburg." RBC, 6 October 2025, https://www.rbc.ru/crypto/news/68e389e29a7947e371e44d82.

"North Korea's Crypto Hackers Have Stolen Over $2 Billion in 2025." Elliptic Blog, 7 October 2025, https://www.elliptic.co/blog/north-korea-linked-hackers-have-already-stolen-over-2-billion-in-2025.

Price, Chris. "New York Stock Exchange to Invest Up to £1.5Bn in Trump-Backed Crypto Betting Market." The Telegraph (UK), 7 October 2025, https://www.telegraph.co.uk/business/2025/10/07/new-york-stock-exchange-trump-backed-crypto-market/.

Wolf, Nate. "S&P Launches New Crypto Index. The Digital Markets 50 Will Give Diversified Exposure." Barron's, 7 October 2025, https://www.barrons.com/articles/new-crypto-index-digital-markets-50-92099f69.

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 is debating a consolidation of financial supervision that could place ESMA above national regulators for both traditional markets and crypto (1:06). Canada wrestles with a wave of fraud tied to cash-to-crypto machines, as law enforcement struggles with anonymity and cross-border flows (3:11). Galaxy Digital brings a unified app for savings, trading, and retirement accounts to U.S. individuals, while Grayscale introduces staking to its U.S. spot crypto lineup (5:07). Vietnam's five-year digital asset pilot, however, has yet to attract a single applicant amid steep capital demands and restrictions on stablecoins and tokenized assets (7:06).

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:

Arnold, Martin. "EU Watchdog Prepares to Expand Oversight of Crypto and Exchanges." Financial Times, 6 October 2025, https://www.ft.com/content/36bd279c-215e-4582-90ff-7efd6bfa54ea.

Benjamin, Godfrey. "Galaxy Launches Crypto Trading Platform to Take on Robinhood." CoinSpeaker, 6 October 2025, https://www.coinspeaker.com/galaxy-launches-crypto-trading-platform-robinhood/.

Brockbank, Nicole et al. "How Fraudsters Are Using Crypto ATMs to Launder Millions from Canadian Scam Victims." CBC Toronto, 6 October 2025, https://www.cbc.ca/news/canada/toronto/feeding-fraud-crypto-atm-problem-part-one-1.7647402.

"Galaxy Launches GalaxyOne, Bringing Institutional-Quality Financial Offerings to Individual Investors." Press Release, Galaxy Digital, 6 October 2025, https://www.prnewswire.com/news-releases/galaxy-launches-galaxyone-bringing-institutional-quality-financial-offerings-to-individual-investors-302575542.html.

"Grayscale Launches First Staking Spot Crypto ETPs in U.S." Press Release, Grayscale Investments, 6 October 2025. https://www.globenewswire.com/news-release/2025/10/06/3161548/0/en/Grayscale-Launches-First-Staking-Spot-Crypto-ETPs-in-U-S.html.

Luiv, Sven. "EU Plans Major Shift in Crypto Regulation Under ESMA." Brave New Coin, 7 October 2025, https://bravenewcoin.com/insights/eu-plans-major-shift-in-crypto-regulation-under-esma.

Munene, Kelvin. "Vietnam's Crypto Pilot Receives No Applicants Amid High Barriers." CoinCentral, 6 October 2025, https://coincentral.com/vietnams-crypto-pilot-receives-no-applicants-amid-high-barriers/.

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.