U.S. crypto, financial markets and economic policy: the latest reporting from The Token Press.
Binance founder Changpeng Zhao rebuked Senator Elizabeth Warren for falsely claiming he pleaded guilty to money-laundering, clarifying his charge was a compliance failure under the Bank Secrecy Act. His presidential pardon by Donald Trump has sparked accusations of corruption from Democrats, as political tensions over crypto policy continue to escalate.
President Trump pardoned Binance founder Changpeng Zhao, ending the DOJ’s landmark crypto case. The White House called it a victory for innovation and the end of “Biden’s war on crypto,” potentially signaling a more favorable era for the digital asset industry in the U.S.
Hong Kong’s approval of the ChinaAMC Solana ETF marks another milestone in the global expansion of regulated digital asset products — and underscores how far the U.S. still trails. With major players like Bitwise predicting Solana will underpin the next generation of tokenized finance, Asia is cementing its lead in institutional crypto innovation.
U.S. Bitcoin and Ethereum ETFs recorded over $180 million in combined outflows Monday, extending a week of red amid government paralysis and widening protests. Analysts warn that the political turmoil is eroding institutional confidence — though a policy resolution could swiftly revive investor appetite for crypto.
U.S. Bitcoin ETFs lost $1.2 billion this week amid a sharp BTC selloff, led by major redemptions from BlackRock and Fidelity funds. Yet, Charles Schwab reports record engagement, with its clients now owning 20% of all crypto ETPs — signaling that institutional interest remains strong despite near-term volatility.
Prediction markets are rapidly entering the mainstream, with Polymarket and Kalshi leading the charge. Experts say their simplicity and cultural relevance could make them DeFi’s first mass-adopted product — bridging the gap between Wall Street and everyday users.
The U.S. Senate’s new GAIN Act would require chipmakers to serve domestic AI and HPC orders before exporting overseas, potentially tightening global supply. While aimed at boosting national AI resilience, the measure threatens to worsen conditions for the crypto mining sector already hit hard by tariffs and trade restrictions.
Zcash (ZEC) has rebounded sharply to pre-crash levels after the crypto market’s $20B wipeout, showcasing resilience amid extreme volatility. The recovery follows Trump’s China tariff announcement, which triggered widespread sell-offs and revived fears of a global trade war.
Crypto.com CEO Kris Marszalek has called for regulators to investigate exchanges after a record $20B in liquidations triggered widespread losses. The crash, fueled by Trump’s China tariff shock and token depegs, has raised questions about market integrity and exchange risk management.
Bitcoin ETFs attracted $2.71 billion in weekly inflows, bringing total AUM to $159 billion and reaffirming institutional confidence. Despite a brief outflow tied to Trump’s tariff comments, inflows remain robust, as ETF filings surge and investors continue treating Bitcoin as “digital gold.”
Democratic senators have proposed a “restricted list” for risky DeFi protocols and new KYC rules for crypto wallets, drawing widespread backlash. Critics warn the move could cripple U.S. DeFi innovation, drive developers overseas, and undo recent bipartisan progress on crypto regulation.
Global crypto ETP inflows have already surpassed 2024’s record at $48.7 billion, driven by surging demand for Ether, Solana, and XRP funds even as Bitcoin’s dominance declines. With upcoming SEC decisions on altcoin ETFs, analysts expect another wave of institutional participation in the months ahead.
Citi Ventures confirmed its BVNK investment on October 9, 2025, citing infrastructure for moving between stablecoins and traditional payment systems.
SoftBank’s PayPay has acquired a 40% stake in Binance Japan to integrate crypto payments into its platform, opening access to 70 million users. The move strengthens Binance’s presence in Japan and aligns with PayPay’s global ambitions, including a planned U.S. stock listing and expansion across Asia.
Coinbase has received New York state approval to offer crypto staking on Ethereum, Solana, and other assets. The move signals a regulatory shift in favor of staking services and marks another step in Coinbase’s broader goal of integrating crypto with mainstream finance.
Square has launched a new Bitcoin payment option for U.S. merchants, letting them accept and hold BTC with zero fees through 2026. The move aligns with Jack Dorsey’s Bitcoin-focused vision and comes amid renewed growth in crypto-based payments and AI-driven financial innovation.
The AFL-CIO has condemned the Senate’s Responsible Financial Innovation Act, arguing it would expose retirement funds to crypto volatility and create systemic financial risks. The union compared the bill’s potential consequences to the 2008 financial crisis, calling for lawmakers to reject it in favor of stronger worker protections and oversight.
Canary Capital’s Litecoin (LTCC) and Hedera (HBR) ETFs are nearly ready for launch after final filings with the SEC. However, the ongoing U.S. government shutdown has delayed their approval. Analysts say the funds could pave the way for a broader altcoin ETF wave once the SEC resumes normal operations.