š Kyrgyzstan Launches National Stablecoin in Partnership with Binance
š° Kyrgyzstan officially unveiled its own national stablecoin and central bank digital currency (CBDC), developed in collaboration with the cryptocurrency exchange Binance, according to President Sadyr Japarov. This move strengthens Kyrgyzstanās position as a leader in digital currencies in Central Asia.
šŖ The new digital currency has been named A5A7. It is backed by the Russian ruble and operates on the BNB Chain blockchain, developed by Binance. In addition, the digital version of the Kyrgyz som is already being used for government payments. A national cryptocurrency reserve system, including the BNB token, has also been established.
š¢ Binance founder Changpeng Zhao (CZ), appointed as an advisor to the Kyrgyz president on digital assets in May 2025, confirmed the launch of the national stablecoin and noted that the digital som is already in use for government transactions. Notably, U.S. President Donald Trump recently pardoned Zhao in a case related to money laundering violations.
š” With the launch of A5A7, Kyrgyzstan strengthens its position as a digital currency hub in Central Asia. The partnership with Binance opens new opportunities for blockchain technology and digital asset development in the region. However, international reaction and political developments in the country may affect the future growth of this initiative.
š„ Donald Trump Pardons Binance Founder Changpeng Zhao
š° U.S. President Donald Trump has signed an official pardon for Changpeng Zhao (CZ), the founder of the worldās largest cryptocurrency exchange, Binance.
š¢ The decision was published Thursday evening on the official White House website. The statement notes that Zhao āmade a significant contribution to the development of digital finance and blockchain technologyā and āhelped create jobs and foster innovation within the United States.ā
š” Zhao was convicted in 2024 for violating U.S. antiāmoney laundering laws. He pleaded guilty and was sentenced to 18 months in prison, while Binance agreed to pay a $4.3 billion fine as part of a settlement with the Department of Justice.
š The pardon came as a surprise, as Zhao had served only part of his sentence. Following the announcement, President Trump emphasized that he believes it is āimportant to support entrepreneurs advancing the digital economy.ā
š Soon after the news broke, the BNB token jumped more than 7%, and Bitcoin rose to around $111,000.
š In a post on X (formerly Twitter), Zhao thanked the president and said he intends to ācontinue contributing to the growth of the blockchain industry and financial transparency.ā
š Binance has not yet issued an official comment on whether Zhao plans to return to a leadership role at the company.
š·šŗ Russia Becomes Largest Crypto Market in Europe ā Chainalysis Report.
šŖ Russia has overtaken the United Kingdom and other European countries to become the largest cryptocurrency market in the region by transaction volume, according to a new report by Chainalysis.
š³ The report states that Russian users carried out over $24 billion in crypto transactions over the past 12 months. The most significant growth was seen in the decentralized finance (DeFi) sector, which accounts for more than 60% of all crypto activity coming from Russia.
š” A large portion of activity is concentrated on decentralized exchanges such as Uniswap, Curve, and 1inch. DeFi staking, token swaps, and crypto lending platforms are also widely used.
š§ Analysts suggest that the surge in crypto usage in Russia is linked to limited access to global financial systems due to sanctions, as well as growing demand for alternative financial tools.
šÆ Source: Chainalysis Global Crypto Adoption Index. Top 3 crypto-active countries in Europe: Russia, United Kingdom, Germany.
š“ Nearly Ā£11 Billion Wiped Off UK Bank Stocks Amid US Regional Bank Fears
š° Shares of major UK banks plunged on Friday amid growing concerns over the stability of regional banks in the United States. According to market data, the combined market value of British banks dropped by nearly Ā£11 billion in just one day.
š” The sell-off was triggered by reports of financial troubles at several US regional banks, including Zions Bank and Western Alliance, which disclosed significant losses and potential misconduct by borrowers. The news sparked panic among investors, leading to a widespread sell-off in the financial sector on both sides of the Atlantic.
š European financial markets reacted similarly, with banks in Germany, France, and Italy also under pressure. Investors rushed to safer assets ā gold surged to record highs, while government bond yields dropped sharply.
šŖ Cryptocurrencies were not spared: Bitcoin fell nearly 4%, hitting its lowest level since June. Market participants linked the drop to a broader flight from risk amid rising financial instability.
ā The sharp decline in bank valuations marked one of the biggest single-day losses since early 2023 and raised concerns about a potential spillover of banking stress into global markets.
š Officials in the UK and EU have not yet commented on the situation. Statements from central banks and financial regulators are expected in the coming days.
š“ Kraken Enters Prediction Market, Coinbase Eyes Deribit in New Wave of Crypto M&A
As the crypto market regains momentum, major industry players are making bold moves to expand their reach. Crypto exchange Kraken has announced the acquisition of a regulated prediction market platform in a deal worth approximately $100 million. The move gives Kraken access to the fast-growing market for event-based trading ā from elections to sports outcomes.
Meanwhile, Coinbase is reportedly in talks to acquire Deribit, the worldās largest crypto options exchange. According to sources, the potential deal could be valued at $4ā5 billion. If completed, the acquisition would strengthen Coinbaseās position in the derivatives space and bring it closer to its goal of becoming an all-in-one trading platform.
Analysts link the surge in M&A activity to preparations for the next stage of industry growth, as firms aim to secure leadership in adjacent sectors. With new crypto ETFs expected to receive approval and institutional interest returning, exchanges are racing to expand beyond traditional spot trading.
šØ Global Financial Stability at Risk Due to Significant Gaps in Crypto Regulation, Warns G20 Watchdog
ā Rising Global Risks
The Financial Stability Board (FSB), the main supervisory body of the G20, warns that the worldās financial stability is under threat due to major gaps in cryptocurrency market regulations. In its latest review, the FSB noted that although some progress has been made in crypto regulation since 2023, the international approach remains fragmented and insufficient to effectively control cross-border crypto assets. Specifically, the crypto market has doubled in value to $4 trillion over the past year, increasing risks to financial stability.
šŖ Issues with Stablecoins
A particular concern is the lack of unified regulation for stablecoins ā cryptocurrencies pegged to fiat currencies like the US dollar. Despite the stablecoin market growing to nearly $290 billion, only a few countries have implemented comprehensive legal frameworks to regulate them. The FSB calls for closer international coordination to reduce risks associated with these assets.
š The Need for Global Cooperation
The FSB emphasizes the importance of international cooperation, as crypto assets can easily move across borders, complicating national oversight. The organization recommends speeding up the adoption of consistent cryptocurrency and stablecoin laws, highlighting that offshore activity can still impact national financial systems.
š” FSB Recommendations
The FSB released eight recommendations for jurisdictions aimed at accelerating the implementation of comprehensive, globally aligned rules and improving cross-border cooperation and coordination. These recommendations follow similar warnings from the European Securities and Markets Authority earlier this year, which pointed out that even small markets can be sources of broader systemic financial risks. #Crypto #CryptoMarketAnalysis $BNB $BTC $USDC
šØ US and UK Impose Sanctions on Leaders of Cambodian Scam Centres, Seize $15 Billion in Bitcoin
š The United States and the United Kingdom have imposed sanctions and asset freezes on individuals alleged to be behind large-scale scam operations in Cambodia. These networks are accused of exploiting trafficked workers, forcing them into cybercrime, and laundering massive amounts of money through cryptocurrency. US authorities also announced the seizure of approximately 127,000 bitcoins, worth about $15 billion, marking the largest crypto confiscation in US Justice Department history.
š” The Scam Operations: - In Cambodia, āscam compoundsā employ trafficked workers forced to operate fake investment platforms, romance scams, and fraudulent social media profiles. - Many workers are victims themselves ā lured with false job promises, then detained, beaten, and threatened for attempting to escape. - Some deaths have been reported, including that of a South Korean student, sparking international outcry. - Some of these compounds are surrounded by three-meter-high walls topped with barbed wire, essentially functioning as high-security prisons.
ā Accusations Against Cambodian Authorities: - Cambodian authorities are accused of complicity ā either through direct involvement or by turning a blind eye. - Human rights groups like Amnesty International have raised alarm over reports of torture, extortion, and inaction by officials. - Victims often find no legal recourse inside Cambodia.
ā Sanctions: - Six individuals were sanctioned, including Chen Zhi, a Chinese-born businessman (b. 1987), linked to major scam and property operations in Cambodia. - Sanctioned assets include offshore companies registered in the British Virgin Islands and high-value properties in London. - Entities tied to the scam centres include: Prince Group, Jin Bei Group, Golden Fortune Resorts World, Byex Exchange, among others.
ā Amid a massive crypto market sell-off that wiped out about $19 billion in market capitalization, gold-backed tokens have shown resilience and remained virtually unchanged in price.
šŖ According to data from CoinGecko: - PAX Gold (PAXG) decreased by just 0.23% - Tether Gold (XAUT) showed a slight increase of 0.14% By comparison, Bitcoin fell more than 5% during the same period, and Ethereum dropped nearly 6%.
š Physical gold, which backs the PAXG and XAUT tokens, has continued to rise for the eighth consecutive week. According to the World Gold Council, the asset has reached levels close to technical overbought territory, which may indicate a potential upcoming pause in the rally.
š” PAX Gold and Tether Gold are tokens each backed by one troy ounce of physical gold stored in certified vaults. Their value directly reflects the global gold market price.
š Gold-backed tokens have once again demonstrated their resilience amid high volatility in the crypto sector.
āCrypto Market Suffers Record $19 Billion Wipeout After Trump Imposes 100% Tariff on Chinese Tech Imports
š The cryptocurrency market experienced a massive sell-off, with over $19 billion liquidated within a single day. This record loss followed former U.S. President Donald Trumpās decision to impose a 100% tariff on key technology imports from China.
š” The announcement of these new trade restrictions triggered panic among crypto traders: more than 1.6 million market participants suffered losses, and liquidations exceeded $7 billion in just one hour.
šŖ Under this pressure, major cryptocurrencies also saw significant price drops: Bitcoin fell around 7-8%, Ethereum dropped over 12%, while XRP and BNB lost approximately 13% and 6-7% respectively.
š This move came in response to Chinaās export restrictions on rare earth minerals ā essential materials for the tech industry. The trade tensions between the two countries escalated, increasing instability across financial markets, including cryptocurrencies.
š§ Experts warn that the fallout from this sell-off could continue to impact the marketās overall trend, as the scale of liquidations might trigger a chain reaction.
ā” Major Global Banks Plan to Launch Stablecoins Pegged to G7 Currencies
š¢ Several of the worldās largest banks ā including Bank of America, Deutsche Bank, UBS, Goldman Sachs, and others ā have initiated a joint project to develop stablecoins pegged to the primary fiat currencies of the G7 nations. The news was reported by Reuters, citing sources familiar with the matter.
šŖ According to preliminary information, the initiative involves the issuance of digital assets whose value will be strictly tied to currencies such as the US dollar, euro, Japanese yen, British pound, and others. The main goal of the project is to simplify cross-border transactions and accelerate international settlements.
š The project is currently in its early stages. The participating banks are also engaged in consultations with regulators in the US, EU, and other jurisdictions. The stablecoins are expected to be issued under existing legal frameworks and fully backed by reserves in their corresponding fiat currencies.
š” It is not yet clear which blockchain platform will be used for the issuance of these digital currencies, or whether it will be a public or private system.
š§ While similar initiatives have been proposed in specific regions before, the involvement of several major global financial institutions gives this project broader international significance.
š Hargreaves Lansdown Warns UK Investors Against Cryptocurrency Exposure.
š¢ UK-based investment platform Hargreaves Lansdown has issued a warning to retail investors regarding the risks associated with cryptocurrency investments.
š Despite a recent shift in policy by the Financial Conduct Authority (FCA), which now permits access to regulated crypto exchange-traded products (ETPs) for professional investors, the company maintains a cautious stance toward digital assets like Bitcoin.
š In an official statement, Hargreaves Lansdown said cryptocurrencies remain āhighly speculative assetsā and ālack intrinsic value.ā
āWe do not consider Bitcoin or similar assets suitable for growth or income-focused portfolios,ā the firm noted.
š” As a result, Hargreaves Lansdown confirmed it does not plan to offer crypto-related ETFs or ETNs to its clients in the near future. The company said it would continue to focus on traditional investment products with a proven track record and regulatory clarity.
ā The warning comes shortly after the FCA approved the listing of crypto exchange-traded notes (ETNs) on the London Stock Exchange, though access remains limited to professional investors only.
š§ Hargreaves Lansdownās position highlights an ongoing divide in the UK financial industry over digital assets ā even as Bitcoin continues to reach new all-time highs and institutional interest in crypto grows.
š“ S&P and Dinari Launch Digital Markets 50 Index, Combining Cryptocurrencies and Stocks
š¢ Global financial company S&P Dow Jones Indices, in collaboration with fintech firm Dinari, has announced the launch of a new financial product ā the Digital Markets 50 Index, which combines both cryptocurrencies and traditional stocks.
ā The index includes 50 assets, consisting of 15 major cryptocurrencies and 35 publicly traded companies related to digital finance. To maintain balanced exposure, each assetās weight is capped at 5%.
š” The index is designed to give investors broader exposure to the digital economy by merging decentralized crypto assets with traditional financial instruments tied to Web3, fintech, and blockchain sectors.
š Dinari also announced plans to launch a tokenized version of the index on its dShares platform. The product is expected to become available to investors by the end of the year.
š§ Representatives from Dinari stated that the index will be updated monthly and will serve as a foundation for investment products, including index tokens and asset baskets.
š This project is among the first of its kind to offer a comprehensive approach to digital investments by bridging the gap between crypto markets and traditional finance.
šØ Crypto ETFs Attract Record $5.95 Billion in Weekly Inflows
š¢ Global cryptocurrency exchange-traded funds (ETFs) recorded a historic weekly inflow of $5.95 billion, according to data from analytics firm CoinShares. This marks the highest weekly total ever recorded in the crypto ETF market.
š° The majority of the funds went into Bitcoin ETFs, which saw $3.55 billion in inflows. Ethereum-based ETFs attracted an additional $1.48 billion, while the remainder was allocated across other digital asset products, including Solana, Cardano, and multi-asset crypto funds.
š The surge in investment coincides with Bitcoin hitting a new all-time high, breaking above $125,000 earlier this week.
š§ Analysts link the spike in ETF activity to rising institutional interest, growing regulatory clarity, and the recent launch of new crypto investment products on major global exchanges.
šŖ Kremlin-Linked Cryptocurrency Conducted $6 Billion in Transactions Since U.S. Sanctions
šµ A cryptocurrency linked to Russian state entities has conducted transactions totaling over $6 billion since August 2025, despite existing U.S. sanctions. This was reported by the Financial Times based on its own investigation.
š” The token in question is A7A5, used within the A7 blockchain network, which is supported by the Kremlin. According to the publication, the asset was sanctioned by the U.S. in April 2025, yet transactions continued.
š„ FT notes that developers employed a āburn-and-mintā mechanism, allowing them to circumvent restrictions. Tokens were destroyed on one chain and recreated on another, effectively staying outside the scope of sanctions.
š The transactions involved cryptocurrency exchanges registered outside U.S. and EU jurisdictions ā notably in Hong Kong, Turkey, and the UAE.
š§ Official representatives of the U.S. Treasury have yet to comment on the matter. However, FT reports that American regulators are investigating new sanction-evasion schemes using cryptocurrencies and may strengthen oversight of such assets.
š„ Binance and Ignyte Join Forces to Boost Web3 Ecosystem in the UAE
š Cryptocurrency exchange Binance and the innovation startup platform Ignyte, supported by the Dubai International Financial Centre (DIFC), have announced a strategic partnership aimed at accelerating the development of Web3 and blockchain technologies across the Middle East and North Africa (MENA) region.
š” According to the official statement, the two organizations will collaborate on several key initiatives, including:
- organizing hackathons and educational programs;
- launching startup accelerators and incubators;
- providing technical support for teams and developers;
š° The partnership will be carried out under the umbrella of DIFCās innovation platform, one of the regionās largest financial hubs. The first stage of collaboration will begin with a global hackathon offering a $25,000 prize pool.
š Spokespersons from both Binance and Ignyte confirmed that the alliance is focused on creating favorable conditions for startups, developers, and investors, while strengthening the UAEās position as a global hub for Web3 innovation.
š¢ Binance representatives noted that the company continues to expand its presence in the region and sees this partnership as a key step in that strategy.
šŖ A7A5, a cryptocurrency pegged to the Russian rouble and subject to U.S. and U.K. sanctions, was listed as a sponsor of TOKEN2049, one of the worldās largest crypto conferences, held in Singapore in September.
š The token was launched in January 2025 by a Russian defense-affiliated bank and a payment company. In August, A7A5 came under sanctions from the United States and the United Kingdom, with authorities alleging it was being used to circumvent financial restrictions.
š” During the conference, A7A5ās logo appeared on the eventās website and staff shirts, and a representative of the token participated in a panel discussion. However, after Reuters contacted the organizers, all mentions of A7A5 were quickly removed from the official site, and the speaker was removed from the agenda.
š A representative of A7A5 said the company is registered in Kyrgyzstan and complies with local regulations. He also stated that the token targets markets in Asia, Africa, and Latin America.
š³ According to blockchain analytics firm Elliptic, A7A5 has processed over $70 billion in transactions since its launch. However, the origin and destination of funds remain unclear.
š¢ TOKEN2049 declined to comment, and Singaporean authorities had not issued an official response at the time of publication.
š³ World Liberty Financial to Launch Crypto Debit Card
š Fintech company World Liberty Financial has announced the upcoming launch of a new crypto-supported debit card, expected to become available by the end of the year.
š The card will enable users to pay for goods and services using major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and stablecoins. Transactions will be automatically converted into fiat currency at the point of sale.
š The card will operate in partnership with a major global payment network, although the specific provider has not yet been disclosed.
š± The card will be linked to a mobile app, allowing users to track transactions and manage their balances in real time.
š” World Liberty Financial plans to roll out the product initially in the United States and parts of Europe. Registration for beta testing is already open on the companyās official website.
šŖ EU calls for urgent regulation of stablecoins partially issued outside the bloc
š° The European Systemic Risk Board (ESRB) has urged tighter oversight of stablecoins issued simultaneously by companies inside and outside the EU.
š” The reason: these āmulti-issuerā schemes are highly vulnerable to liquidity crises and the risk of massive withdrawals.
š¢ The ESRB calls for unified rules for all issuers, including those based in third countries, to close regulatory gaps and prevent threats to the stability of Europeās financial markets.
š“ Stablecoins as the New Instrument of Dollar Power: Donald Trump Jr.ās View
š¢ Trump Jr.: āStablecoins Are the Digital Extension of Dollar Powerā
Speaking at a business forum in Miami, Donald Trump Jr. emphasized:
āThe US dollar has been the backbone of the global economy for decades. But if we donāt adapt to technological change, that leadership could be lost. Stablecoins give us a chance to stay on top.ā
He noted that dollar-backed digital assets are increasingly being used in international transactions ā especially in regions with limited access to traditional dollar liquidity. This doesnāt just expand the dollarās reach, but bypasses traditional financial channels like SWIFT.
šµ How Stablecoins Strengthen the Dollar
Stablecoins like USDT, USDC, and others serve several strategically important functions:
- Make the dollar accessible in countries with weak or restricted banking systems;
- Power global crypto and DeFi ecosystems;
- Create a digital dollar economy parallel to the traditional one.
In this sense, stablecoins are becoming a financial tool of soft power, spreading US influence without relying on banks or central banks.
š” Criticism of US Regulation
Trump Jr. took aim at the US regulatory approach:
āInstead of supporting innovation, weāre stifling it. While the SEC and Congress argue, other countries are building digital currencies and taking the lead.ā
He called for easing restrictions on companies like Circle (issuer of USDC) and Paxos, giving them regulatory clarity and tax incentives. He also supported public-private partnerships in developing stablecoins.
š Geopolitical Context
Trumpās remarks come amid rising competition from Chinaās digital yuan (e-CNY), plans for a European Central Bank digital euro, and initiatives from the UAE and Singapore to launch tokenized financial systems.