Avalanche is gaining ground as a preferred blockchain for governments and institutional investors, even as its native token continues to lag far below its all-time high.
During the past quarter, Wyoming’s Stable Token Commission issued the first government-backed stablecoin, the Frontier Stable Token (FRNT), on Avalanche and six other public blockchains, signaling a growing adoption of blockchain networks by governments.
FRNT launched as a fully collateralized stablecoin backed by US dollars and short-duration US Treasury bills with a mandated 102% reserve requirement, Cointelegraph reported in August.
At the end of the third quarter, Avalanche had become the third-largest blockchain by the value of tokenized US Treasurys onchain, with $638 million, following BNB Chain and Ethereum, according to data from RWA.xyz.
Tokenized Treasurys are minted on the blockchain to increase investor accessibility and trading opportunities. They are part of the growing real-world asset tokenization sector.
Top blockchains by tokenized US Treasurys. Source: RWA.xyz
AVAX token down 86% from all-time high, despite growing network adoption
Avalanche’s onchain data points to significant user activity, averaging over 1 million daily transactions, with a peak of 51.6 million daily transactions during the past quarter, according to Nansen.
However, the growing network usage has not attracted significant upside for Avalanche’s native utility token (AVAX), which is down 86% from its all-time high of $146 reached four years ago on Nov. 21, 2021.
Avalanche was trading at $19.66 at publication, down 33% during the past month, as the broader crypto market was hit by a record $19 billion liquidation event at the beginning of October, following US President Donald Trump’s 100% import tariff threats on Chinese goods.
Democratic Party senators have requested that US Attorney General Pam Bondi and the US Department of Justice provide additional information regarding the pardon of Binance co-founder Changpeng “CZ” Zhao by President Donald Trump.
In an open letter on Tuesday, seven Democratic senators wrote that the pardon “signals to cryptocurrency executives and other white-collar criminals that they can commit crimes with impunity.” The lawmakers accused Trump of encouraging criminal activity “so long as they enrich him.”
The letter follows similar criticism from US Representative Maxine Waters, the top Democrat on the House Financial Services Committee, earlier this week, who said that “Trump is doing massive favors for crypto criminals who have helped line his pockets.”
The signatories include Senators Elizabeth Warren, Chris Van Hollen, Bernard Sanders, Mazie Hirono, Richard Blumenthal, Jack Reed and Jeffrey Merkley. They wrote that “this pardon will make it harder for Federal law enforcement to fight and deter crime.”
In the letter, the Senators highlight several alleged ties between Zhao, Trump and Binance. Trump’s family launched their decentralized finance (DeFi) platform World Liberty Financial (WLFI) late last year, which has been linked to Binance’s operations.
The launch was followed by accusations that Zhao facilitated introductions and meetings for WLF leaders, which CZ denied in late May. Other reports suggest Binance played a role in developing the code behind USD1, the stablecoin issued by WLFI.
“After Mr. Zhao’s company provided President Trump and his family with a revenue stream worth millions of dollars, President Trump pardoned him for criminal activity that he admitted to conducting.“
Reports from earlier this month also claimed that Zhao’s pardon followed a lobbying push by Binance, which included $450,000 to Trump-linked lobbyists and $290,000 to former Securities and Exchange Commission chair candidate and lawyer for CZ, Teresa Goody Guillén.
The senators argued that Trump’s pardon could “publicly and flagrantly undermine the work of federal law enforcement” and send a message to “cryptocurrency executives and other white-collar corporate criminals that the law doesn’t matter.”
They asked that the Department of Justice and Bondi explain the expected effect of the pardon on people and companies involved in crime, especially in the crypto industry. They also requested clarification on whether Trump’s alleged financial ties to CZ influenced his decision to issue the pardon.
Trump pardoned CZ last week, saying people told him “what he did was not even a crime.” Zhao had pleaded guilty in 2024 to violating the US Bank Secrecy Act by failing to maintain an effective Anti-Money Laundering program at Binance.
Despite a decline in stock price and a slowdown in Bitcoin purchases, Strategy, the world’s largest corporate Bitcoin holder, may have a 70% chance of being added to the S&P 500 index before the end of the year, according to crypto market intelligence company 10X Research.
Strategy is set to release its third-quarter 2025 earnings on Thursday, which are expected to include an estimated $3.8 billion gain from fair-value Bitcoin (BTC) accounting.
A profitable quarter would mean a 60%–70% probability that the stock would be included in the S&P 500 effective Dec. 19, according to a Wednesday report from 10X Research.
“Capitulation always feels like the end — until it quietly marks the beginning,” the report said. “The October 30 earnings release, which could reignite speculation around the December 5 S&P 500 inclusion decision — a scenario we assign a roughly 70% probability.”
While investor sentiment around the stock remains “washed out,” the earnings report presents an “obvious catalyst” for Strategy, 10X said.
Strategy Bitcoin buying, Strategy NAV 30-day average, one-year chart. Source: 10x Research
Bitcoin slowdown and valuation strain
The prediction comes despite broader concerns over the sustainability of digital asset treasuries (DATs), as several companies have seen their market net asset value (mNAV) fall below key thresholds this year.
The mNAV ratio compares a company’s enterprise value to the value of its crypto holdings. An mNAV above 1 allows a company to raise funds by issuing new shares to accumulate digital assets. Values below 1 make it much harder to expand capital and holdings.
Several DATs saw their mNAVs slip below this key level, effectively shutting down their ability to raise funds for further purchases. The firms included Strategy, Bitmine, Metaplanet (MTPLF), Sharplink Gaming (SBET), Upexi (UPXI) and DeFi Development Corp (DFDV).
Digital asset treasuries’ mNAVs have been under broad pressure since June. Source: Standard Chartered
Crypto market liquidity will return at “this point” of the cycle
Strategy has slowed its Bitcoin purchases over the past month. The company only acquired 778 Bitcoin during October, one of its smallest monthly hauls, down 78% from the 3,526 BTC it bought in September.
Despite the slowing Bitcoin acquisitions and a significant recent market correction, this may be “precisely the point” of the crypto market cycle when “liquidity returns and outsized moves take shape,” according to 10X Research.
“With the NAV premium largely unwound, which caused $18 billion in losses for investors and volatility beginning to pick up again, the risk-reward dynamic is no longer about bracing for downside — it’s about preparing for what comes next.”
Despite the favorable outlook, Strategy received a “B-” credit rating from S&P Global Ratings, placing it in the speculative, non-investment grade territory often associated with “junk bonds,” despite having a positive outlook on its stock price.
This marks the first time a Bitcoin‑treasury-focused company has received an S&P Global assessment, establishing a new potential benchmark for traditional finance participants evaluating crypto firms.
TRX price prediction shows consolidation near $0.30 with medium-term target of $0.29-$0.304 range, while long-term TRON forecast points to $0.366 by December 2027.
TRON (TRX) finds itself at a critical juncture as technical indicators paint a mixed picture for the cryptocurrency’s immediate future. With the current price hovering at $0.30, our comprehensive TRX price prediction analysis reveals a story of near-term consolidation followed by potential long-term appreciation.
TRX Price Prediction Summary
• TRX short-term target (1 week): $0.298-$0.304 range (±1.5% from current levels)
• TRON medium-term forecast (1 month): $0.292-$0.304 consolidation zone • Key level to break for bullish continuation: $0.34 immediate resistance
• Critical support if bearish: $0.29 strong support level
Recent TRON Price Predictions from Analysts
The latest analyst predictions show remarkable consensus around TRON’s near-term price action. Altpricer’s most recent TRX price prediction targets $0.29764 for the short term, representing minimal downside from current levels. Their medium-term TRON forecast is slightly more bearish, projecting $0.29235 by November 24, 2025.
Changelly provides a contrarian view with a TRX price target of $0.304, suggesting a modest 1.73% upside based on technical momentum. The most optimistic long-term outlook comes from Cryptopredictions.com, which sees TRON reaching $0.366 by December 2027 – a potential 22% appreciation from current levels.
This convergence of predictions around the $0.29-$0.30 range suggests institutional confidence in TRON’s current valuation as a fair value zone, with limited downside risk but also capped near-term upside potential.
TRX Technical Analysis: Setting Up for Consolidation
The current TRON technical analysis reveals a cryptocurrency caught between competing forces. TRX’s RSI reading of 33.86 sits in neutral territory, neither oversold nor overbought, suggesting balanced buying and selling pressure. However, the MACD histogram at -0.0016 indicates bearish momentum is currently dominating price action.
Perhaps most telling is TRON’s position within the Bollinger Bands. With a %B position of 0.1250, TRX is trading near the lower band at $0.29, historically a zone where oversold conditions often lead to bounces. The middle band at $0.31 represents the 20-day moving average and serves as immediate resistance.
Volume analysis shows $66.6 million in 24-hour trading volume on Binance, which is moderate for TRX and suggests neither aggressive accumulation nor distribution is occurring. This supports the consolidation thesis in our TRX price prediction.
TRON Price Targets: Bull and Bear Scenarios
Bullish Case for TRX
The bullish scenario for our TRX price target analysis hinges on breaking above the immediate resistance at $0.34. Should TRON clear this level with conviction and volume, the next logical target becomes the strong resistance at $0.35, representing a 17% upside from current levels.
A sustained move above $0.35 would likely trigger momentum buying and could propel TRX toward the 52-week high of $0.37. The long-term TRON forecast supporting $0.366 by 2027 appears achievable if the cryptocurrency can establish a higher low pattern above current support levels.
Bearish Risk for TRON
The primary risk to our TRX price prediction lies in a breakdown below the critical $0.29 support level. This zone aligns with both the Bollinger Band lower boundary and strong technical support identified in our analysis. A decisive break below $0.29 could trigger stop-loss selling and potentially drive TRX toward the psychological $0.25 level.
The bearish case would be confirmed if TRON fails to reclaim the 20-day moving average at $0.31 and continues to show negative MACD momentum. Traders should monitor whether the RSI drops below 30, which would signal oversold conditions and potential capitulation selling.
Should You Buy TRX Now? Entry Strategy
Based on our TRON technical analysis, the current risk-reward profile suggests a measured approach to the question of whether to buy or sell TRX. Conservative buyers should consider dollar-cost averaging into positions between $0.295-$0.305, using the current consolidation range to their advantage.
For more aggressive traders, a break above $0.31 (the 20-day moving average) with volume confirmation could signal an entry point targeting the $0.34 resistance level. Risk management is crucial – any buy or sell TRX decision should include a stop-loss below $0.285 to limit downside exposure.
Position sizing should remain modest given the mixed technical signals. The neutral RSI and bearish MACD suggest waiting for clearer directional signals before committing significant capital to TRON positions.
TRX Price Prediction Conclusion
Our comprehensive TRX price prediction points to a period of consolidation in the $0.29-$0.304 range over the next month, with a slight bias toward the lower end of this spectrum. The medium-term TRON forecast suggests limited volatility as the cryptocurrency establishes a base for potential future moves.
The long-term outlook remains constructive, with the $0.366 target by 2027 representing reasonable expectations based on historical price patterns and network fundamentals. However, near-term traders should exercise patience as technical indicators suggest TRON needs time to build momentum for its next significant move.
Key levels to monitor for confirmation include a break above $0.31 for bullish momentum or below $0.29 for bearish acceleration. The current technical setup suggests a 65% probability of continued consolidation over the next two weeks, making this TRX price prediction a moderate confidence forecast for patient investors seeking long-term appreciation potential.
Litecoin price prediction shows potential rebound to $103-$106 range within 1-2 weeks as MACD histogram turns bullish despite recent 3.28% decline.
LTC Price Prediction Summary
• LTC short-term target (1 week): $103.00 (+3.96% from current $99.08)
• Litecoin medium-term forecast (1 month): $99-$108 trading range
• Key level to break for bullish continuation: $106.98 (24h high resistance)
• Critical support if bearish: $97.13 (recent 24h low)
Recent Litecoin Price Predictions from Analysts
The latest LTC price prediction consensus from multiple analysts shows remarkable alignment, with three major sources targeting the $99-$103 range for late October 2025. 30rates.com and CoinLore both project a Litecoin forecast of exactly $103.00, while AMB Crypto’s AI-driven model suggests a slightly more conservative $99.14 target.
This convergence around the $100-$103 zone is particularly significant given that these predictions emerged independently using different methodologies. The fact that technical analysis, AI models, and historical pattern recognition all point toward similar LTC price targets suggests a strong probability of Litecoin testing resistance levels above current prices.
What stands out is the medium confidence level across all predictions – analysts aren’t calling for explosive moves but rather steady, measured gains that align with current technical conditions.
LTC Technical Analysis: Setting Up for Bullish Reversal
The Litecoin technical analysis reveals several compelling signals supporting a near-term price recovery. Despite today’s 3.28% decline, the MACD histogram has turned positive at 1.1322, indicating that bearish momentum is waning and bulls are beginning to reassert control.
The RSI at 47.77 sits in neutral territory, providing ample room for upward movement without entering overbought conditions. This positioning is ideal for a sustainable rally rather than a parabolic spike that would quickly reverse.
Volume analysis shows healthy participation with $110.9 million in 24-hour Binance spot trading, suggesting institutional interest remains strong even during this temporary pullback. The current price of $99.08 sits just above the crucial psychological $99 level, which has acted as both support and resistance throughout October.
Litecoin’s position within the Bollinger Bands at 0.5738 indicates the price is trading in the upper half of the recent range, supporting the bullish case while avoiding extreme overbought conditions that often precede sharp reversals.
Litecoin Price Targets: Bull and Bear Scenarios
Bullish Case for LTC
The primary LTC price target for the bullish scenario points to $103.00 within 5-7 trading days, aligning perfectly with analyst consensus. This target represents the convergence of technical resistance and fundamental support levels.
A break above $103 would likely trigger momentum toward $106.07, where Litecoin encountered selling pressure during its recent peak. The ultimate bullish target remains the $135.99 resistance zone, though reaching this level would require a significant shift in market sentiment and broader crypto momentum.
For the bullish case to materialize, LTC needs to maintain support above $98.99 and generate increased buying volume on any move above $101.06 (the current pivot point).
Bearish Risk for Litecoin
The bearish scenario for this Litecoin forecast would activate if LTC breaks below the critical $97.13 support level established during today’s session. Such a breakdown could trigger algorithmic selling and push prices toward $92.20, representing the next significant support zone.
A deeper correction could target the $82.36 lower Bollinger Band, though this would require a broader cryptocurrency market selloff or Litecoin-specific negative catalysts. The 52-week low of $69.15 remains the ultimate downside target in an extreme bearish scenario.
Should You Buy LTC Now? Entry Strategy
The current technical setup suggests a measured approach to the buy or sell LTC decision. Conservative investors should wait for a confirmed break above $101.06 with strong volume before establishing long positions.
Aggressive traders can consider accumulating between $98.50-$99.50, using the recent $97.13 low as a stop-loss level. This provides a favorable risk-reward ratio targeting the $103-$106 zone.
Position sizing should account for Litecoin’s daily ATR of $7.05, indicating significant intraday volatility that can create both opportunities and risks. A 2-3% position size with proper stop-loss management aligns with prudent risk management principles.
LTC Price Prediction Conclusion
Based on comprehensive technical analysis and analyst consensus, the LTC price prediction for the next 1-2 weeks targets $103.00 with medium-to-high confidence. The bullish MACD histogram, neutral RSI positioning, and strong volume support suggest Litecoin is preparing for a technical rebound.
Key indicators to monitor include the MACD signal line crossing above the MACD line (currently -3.9760 vs -2.8438), RSI breaking above 50, and volume expansion on any move above $101. Failure to hold $97.13 support would invalidate this Litecoin forecast and suggest further downside pressure.
The prediction timeline extends through mid-November 2025, with the expectation that LTC will establish a new trading range between $99-$108 during this period. Traders should remain flexible and adjust positions based on volume confirmation and broader market sentiment shifts.
The real edge in crypto trading lies in detecting structural fragility early, not in predicting prices.
ChatGPT can merge quantitative metrics and narrative data to help identify systemic risk clusters before they lead to volatility.
Consistent prompts and verified data sources can make ChatGPT a dependable market-signal assistant.
Predefined risk thresholds strengthen process discipline and reduce emotion-driven decisions.
Preparedness, validation and post-trade reviews remain essential. AI complements a trader’s judgment but never replaces it.
The true edge in crypto trading comes not from predicting the future but from recognizing structural fragility before it becomes visible.
A large language model (LLM) like ChatGPT is not an oracle. It’s an analytical co-pilot that can quickly process fragmented inputs — such as derivatives data, onchain flows and market sentiment — and turn them into a clear picture of market risk.
This guide presents a 10-step professional workflow to convert ChatGPT into a quantitative-analysis co-pilot that objectively processes risk, helping trading decisions stay grounded in evidence rather than emotion.
Step 1: Establish the scope of your ChatGPT trading assistant
ChatGPT’s role is augmentation, not automation. It enhances analytical depth and consistency but always leaves the final judgment to humans.
Mandate:
The assistant must synthesize complex, multi-layered data into a structured risk assessment using three primary domains:
Derivatives structure: Measures leverage buildup and systemic crowding.
Onchain flow: Tracks liquidity buffers and institutional positioning.
Narrative sentiment: Captures emotional momentum and public bias.
Red line:
It never executes trades or offers financial advice. Every conclusion should be treated as a hypothesis for human validation.
Persona instruction:
“Act as a senior quant analyst specializing in crypto derivatives and behavioral finance. Respond in structured, objective analysis.”
This ensures a professional tone, consistent formatting and clear focus in every output.
This augmentation approach is already appearing in online trading communities. For example, one Reddit user described using ChatGPT to plan trades and reported a $7,200 profit. Another shared an open-source project of a crypto assistant built around natural-language prompts and portfolio/exchange data.
Both examples show that traders are already embracing augmentation, not automation, as their central AI strategy.
Step 2: Data ingestion
ChatGPT’s accuracy depends entirely on the quality and context of its inputs. Using pre-aggregated, high-context data helps prevent model hallucination.
Data hygiene:
Feed context, not just numbers.
“Bitcoin open interest is $35B, in the 95th percentile of the past year, signaling extreme leverage buildup.”
Context helps ChatGPT infer meaning instead of hallucinating.
Step 3: Craft the core synthesis prompt and output schema
Structure defines reliability. A reusable synthesis prompt ensures the model produces consistent and comparable outputs.
Prompt template:
“Act as a senior quant analyst. Using derivatives, onchain and sentiment data, produce a structured risk bulletin following this schema.”
Liquidity and flow analysis: Describe onchain liquidity strength and whale accumulation or distribution.
Narrative-technical divergence: Evaluate whether the popular narrative aligns or contradicts technical data.
Systemic risk rating (1-5): Assign a score with a two-line rationale explaining vulnerability to a drawdown or spike.
Example rating:
“Systemic Risk = 4 (Alert). Open interest in 95th percentile, funding turned negative, and fear-related terms rose 180% week over week.”
Structured prompts like this are already being tested publicly. A Reddit post titled “A guide on using AI (ChatGPT) for scalping CCs” shows retail traders experimenting with standardized prompt templates to generate market briefs.
Step 4: Define thresholds and the risk ladder
Quantification transforms insights into discipline. Thresholds connect observed data to clear actions.
Example triggers:
Leverage red flag: Funding remains negative on two or more major exchanges for more than 12 hours.
Liquidity red flag: Stablecoin reserves drop below -1.5σ of the 30-day mean (persistent outflow).
Sentiment red flag: Regulatory headlines rise 150% above the 90-day average while DVOL spikes.
Risk ladder:
Following this ladder ensures responses are rule-based, not emotional.
“Act as a skeptical risk manager. Identify three critical non-price confirmations required for this trade to be valid and one invalidation trigger.”
Expected response:
Whale inflow ≥ $50M within 4 hours of breakout.
MACD histogram expands positively; RSI ≥ 60.
No funding flip negative within 1 hour post-breakout. Invalidation: Failure on any metric = exit immediately.
This step transforms ChatGPT into a pre-trade integrity check.
Step 6: Technical structure analysis with ChatGPT
ChatGPT can apply technical frameworks objectively when provided with structured chart data or clear visual inputs.
Input:
ETH/USD range: $3,200-$3,500
Prompt:
“Act as a market microstructure analyst. Assess POC/LVN strength, interpret momentum indicators and outline bullish and bearish roadmaps.”
Example insight:
LVN at $3,400 likely rejection zone due to reduced volume support.
Shrinking histogram implies weakening momentum; probability of retest at $3,320 before trend confirmation.
This objective lens filters bias from technical interpretation.
Step 7: Post-trade evaluation
Use ChatGPT to audit behavior and discipline, not profit and loss.
Example:
Short BTC at $67,000 → moved stop loss early → -0.5R loss.
Prompt:
“Act as a compliance officer. Identify rule violations and emotional drivers and suggest one corrective rule.”
Output might flag fear of profit erosion and suggest:
“Stops can only move to breakeven after 1R profit threshold.”
Over time, this builds a behavioral improvement log, an often-overlooked but critical edge.
Step 8: Integrate logging and feedback loops
Store each daily output in a simple sheet:
Weekly validation reveals which signals and thresholds performed; adjust your scoring weights accordingly.
Cross-check every claim with primary data sources (e.g., Glassnode for reserves, The Block for inflows).
Step 9: Daily execution protocol
A consistent daily cycle builds rhythm and emotional detachment.
Morning briefing (T+0): Collect normalized data, run the synthesis prompt and set the risk ceiling.
Pre-trade (T+1): Run conditional confirmation before executing.
Post-trade (T+2): Conduct a process review to audit behavior.
This three-stage loop reinforces process consistency over prediction.
Step 10: Commit to preparedness, not prophecy
ChatGPT excels at identifying stress signals, not timing them. Treat its warnings as probabilistic indicators of fragility.
Validation discipline:
Always verify quantitative claims using direct dashboards (e.g., Glassnode, The Block Research).
Avoid over-reliance on ChatGPT’s “live” information without independent confirmation.
Preparedness is the real competitive edge, achieved by exiting or hedging when structural stress builds — often before volatility appears.
This workflow turns ChatGPT from a conversational AI into an emotionally detached analytical co-pilot. It enforces structure, sharpens awareness and expands analytical capacity without replacing human judgment.
The objective is not foresight but discipline amid complexity. In markets driven by leverage, liquidity and emotion, that discipline is what separates professional analysis from reactionary trading.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Circle, the world’s second-largest stablecoin issuer, launched the public testnet for Arc, its open layer-1 blockchain network built to bring global financial infrastructure onchain.
The rollout, which Circle calls the “Economic Operating System for the internet,” includes participation from over 100 major companies spanning banking, capital markets and fintech — among them BlackRock, Goldman Sachs, Visa, Mastercard and State Street, according to a Tuesday announcement.
“With Arc’s public testnet, we’re seeing remarkable early momentum as leading companies, protocols, and projects begin to build and test,” Circle CEO Jeremy Allaire said. “Combined, these companies reach billions of users, move, exchange, and custody hundreds of trillions in assets and payments,” he added.
Arc is designed to provide predictable US dollar-based fees, sub-second finality and optional privacy controls, directly integrating with Circle’s USDC (USDC) stablecoin and payments stack. It aims to support a broad range of financial applications, from lending and capital markets to global payments and foreign exchange (FX).
The testnet launch has drawn engagement from major institutions such as Apollo, BNY Mellon, Intercontinental Exchange and Deutsche Bank, as well as global payment firms Mastercard, FIS, Paysafe and Nuvei.
Major crypto platforms participate in Arc testnet. Source: Circle
Circle said Arc’s purpose-built architecture connects local markets across continents, from Africa to the Americas and Asia, offering enterprise-grade infrastructure for both traditional financial institutions and Web3-native projects.
Another important feature of Arc is its role in stablecoin infrastructure. The network supports fiat-pegged tokens, tokenized funds and FX liquidity. Issuers from seven countries, including JPYC (Japan), BRLA (Brazil), MXNB (Mexico) and PHPC (Philippines), have joined the testnet.
Arc’s ecosystem extends beyond finance, integrating with leading developer and infrastructure providers such as MetaMask, Fireblocks, Chainlink, Alchemy and LayerZero, alongside crosschain bridges like Wormhole and Stargate.
AI integration is also on the roadmap, with Anthropic’s Claude Agent SDK enhancing the developer experience through AI-powered tools.
Allaire said Arc is “purpose-built to connect every local market to the global economy,” adding that it presents the opportunity for every type of company to “build on enterprise-grade network infrastructure.”
Circle said the long-term goal is to transition Arc into a community-governed network, expanding validator participation and establishing transparent governance.
Circle announced plans to launch Arc in August. At the time, the company said the network was set to use USDC as its native gas token. Last week, Allaire also announced that Circle is building private stablecoins on Arc.
Circle CEO announces building private stablecoins on Arc. Source: Jeremy Allaire
Following Trump’s pardon of Binance’s CZ, Democrat Ro Khanna plans a bill to ban elected officials from crypto activities, aiming to prevent conflicts of interest.
In a significant political development, Democratic Congressman Ro Khanna has announced plans to introduce a bill aimed at prohibiting elected officials from owning or creating cryptocurrencies. This legislative initiative comes in the wake of former President Donald Trump’s controversial pardon of Binance founder Changpeng Zhao, commonly known as CZ, according to CoinMarketCap.
Details of the Proposed Legislation
The proposed bill by Representative Khanna seeks to address potential conflicts of interest that may arise from elected officials’ involvement in the cryptocurrency market. Additionally, it aims to shield U.S. politics from foreign financial influence, which could be exacerbated by the global nature of cryptocurrencies.
Khanna’s proposal has been fueled by what he describes as the “corrupt” and “illegal” nature of Trump’s pardon of Zhao. The pardon has stirred significant debate, with critics arguing that it undermines the integrity of the financial regulatory environment and highlights the need for stricter oversight of political figures’ financial dealings.
Reactions and Implications
The announcement has sparked a broader conversation about the intersection of politics and cryptocurrency. With digital assets becoming increasingly integrated into the global financial system, the potential for conflicts of interest is a growing concern. Khanna’s bill aims to preempt these issues by setting clear boundaries for political figures.
While the bill is still in the proposal stage, it could face significant hurdles in Congress, where opinions on cryptocurrency regulation vary widely. Nevertheless, the introduction of such legislation underscores the urgency felt by some lawmakers to address the evolving landscape of digital finance.
Related Developments
In recent months, there has been a flurry of activity around cryptocurrency regulation in the United States. Lawmakers have been grappling with issues ranging from consumer protection to the environmental impact of cryptocurrency mining. The Securities and Exchange Commission (SEC) has also been active in this space, with Chair Gary Gensler emphasizing the need for comprehensive regulatory frameworks.
As the debate continues, Khanna’s proposal adds another layer to the complex discussion on how best to integrate cryptocurrencies into the existing financial and political systems. The outcome of this legislative effort could set a precedent for how other nations approach the issue of political figures’ involvement in the crypto space.
Chun Wang, co-founder of major Bitcoin mining pool F2Pool, pushed back against a proposed temporary soft fork aimed at limiting data spam on the Bitcoin network.
Wang wrote in a Monday X post that “BIP-444 is a bad idea.” He added that he, and presumably F2Pool, are “not going to soft fork anything,” whether it is “temporary or not.”
He said, “Feel sad that some devs [are] moving further and further in the wrong direction.”
Bitcoin Improvement Proposal (BIP)-444 is a temporary soft-fork proposal for the Bitcoin network aimed at restricting the inclusion of arbitrary data, which its proponents view mainly as spam. The soft fork would limit non-transaction data — which enables alternative uses for the Bitcoin blockchain — to 83 bytes, among other limitations.
Many have viewed the change as corporate capture of the Bitcoin blockchain, since it allows companies to build layer 2s and other infrastructure on Bitcoin. Furthermore, some argue that allowing more arbitrary data onchain results in faster increases in blockchain size, higher node requirements and greater centralization.
Others pointed out that this is part of a debate that dates back to the very early days of Bitcoin (BTC). Additionally, proponents of the change highlight that it is hard to ensure miners enforce a rule that goes against their own incentives. A January 2024 review revealed that miners, such as F2Pool, were already including non-standard transactions that exceeded OP_RETURN limits.
The BIP, submitted by pseudonymous developer Dathon Ohm, is called a “Reduced Data Temporary Softfork” and suggests to “temporarily limit the size of data fields at the consensus level.” The limit would last until Bitcoin block 987,424, or about 1.27 years from now.
In a dedicated mailing list, the creator explained that “the idea is to strongly reaffirm in consensus that bitcoin is money, not data storage.” “After a year, the soft fork expires, giving us time to come up with a more permanent solution,“ they said.
BIP-444 is a temporary soft fork that would close most data-embedding paths on Bitcoin, including stricter size caps on outputs and pushes, bans on annex, unknown witness versions, deep Taproot trees, OP_SUCCESS* and conditional branches. This limits Ordinal-based non-fungible token (NFT) creation, large data payloads and complex scripts while keeping simple monetary unaffected.
The BIP text argues that with modern data compression, it is possible to embed “objectionable images (often illegal to even possess) in as few as 300–400 bytes.” This would allow “a malicious actor to mine a single transaction with illegal or universally abhorrent content and credibly claim that Bitcoin itself is a system for distributing it.”
Bitcoin developer and cypherpunk Peter Todd, on the other hand, stated that the approach is also ineffective in achieving its intended goal. Todd demonstrated this by embedding the entire BIP-444 text in a Bitcoin transaction that would be compliant with the soft fork.
Still, the proponent of the change highlighted that sending it costs over $100 in fees and argued that if embedding illegal data is made harder, “it would not make sense to hold node operators legally responsible.” They explained:
“If Bitcoin provides an officially supported method of storing arbitrary data […] node operators could conceivably be held responsible for possession and distribution.“
Still, some view the distinction as arbitrary and unrealistic. One X user demonstrated the idea by sharing two commands that would gather data from an image stored on the Bitcoin network, highlighting how scarce the differences are in practice.
Solana’s native token, SOL (SOL), traded at $203 on Tuesday, up 14% from its local low of $177 reached on Wednesday. This recovery is fueled by growing excitement around the launch of the first Solana ETF in the US today.
First US-based Solana ETF debut
The Bitwise Solana Staking exchange-traded fund (ETF) is set to debut on the New York Stock Exchange on Tuesday under the ticker symbol BSOL.
This marks the first US spot Solana ETF with 100% direct exposure to SOL, including built-in staking for approximately 7% annual yields from network rewards.
– First U.S. ETP to have 100% direct exposure to spot SOL – Maximizing Solana’s 7%+ average staking reward rate* – Targeting 100% of assets staked – Staking through Bitwise Onchain Solutions, powered by… pic.twitter.com/Vo8Ko0qOCn
Bloomberg ETF analyst Eric Balchunas confirmed NYSE listing notices, adding that Grayscale’s Solana Trust (GSOL) converts to a spot ETF tomorrow, Oct. 29, providing another regulated avenue for exposure to SOL’s price and staking rewards.
The approval process for crypto ETFs in US markets has stalled since the federal government shut down on Oct. 1.
“Approved by the SEC, Bitwise’s $BSOL ETF officially begins trading today,” said crypto analyst Bitcoinsensus in an X post on Tuesday, adding:
“This marks a major milestone for Solana and altcoin ETF adoption. The ETF also gives investors exposure to full staking features.”
JPMorgan, a multinational investment bank, predicted that a Solana ETF would attract $3 billion to $6 billion in its first year, based on the adoption rates of Bitcoin and Ether ETFs.
SOL price can double from a bull flag breakout
SOL’s price action exhibits a bull flag pattern in the weekly time frame, indicating a potential rise to $400 and higher.
A bull flag is a bullish continuation pattern that occurs after a significant rise, followed by a consolidation period at the higher price end of the range. As a technical rule, a breakout above the flag’s upper trendline may trigger a parabolic price rise.
The chart pattern will resolve once the price breaks above the upper boundary of the flag at $205.
The measured target for this pattern, the height of the flag’s post added to the breakout point, is $412, or a 104% increase from the current level.
Also supporting SOL’s upside is the increase in RSI’s value to 53 on Tuesday, from 34 in mid-June, when the bull flag formation began. This indicates a steady increase in the upward momentum.
A similar target was set by analyst BitBull, who said “$SOL is still holding its 3-year support trendline,” with the most important level for Solana being $280.
“A weekly close above it will trigger a massive rally,” the analyst said, adding:
“I still think $400-$500 SOL is happening this cycle.”
SOL/USD weekly chart. Source: BitBull
As Cointelegraph reported, the RSI climbing above the mid-point mark indicates that buyers are in control. This can help SOL break through $220 and open the way for a rally to $260 and above.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
