TL;DR:

• Trump keeps talking crypto — featured again at the American Business Forum and on CBS 60 Minutes.

• White House Crypto Chief says a market structure bill could pass before year-end.

• Balancer exploit drains over $128M from V2 Composable Stable Pools.

• New crypto legislation is advancing in the UK, Canada, and Malaysia.

• Africa is preparing to launch a continental stablecoin network.

President Trump on Crypto 

At the America Business Forum in Miami on November 5, 2024, President Donald Trump delivered one of his most direct statements on cryptocurrency to date—highlighting his administration’s commitment to supporting digital innovation and ending federal hostility toward the industry. His remarks signaled an apparent policy shift toward embracing blockchain as part of America’s financial and technological future:

“To embrace a vital industry here in Miami, I’ve also signed historic executive orders to end the federal government’s war on crypto. Crypto was under siege — it’s not under siege anymore. It’s a big industry. It’s a big industry, and I have a lot of people — great people, great businesspeople. They’re in other businesses, but they’re in crypto too. And it takes a lot of the pressure off the dollar. It does a lot of good things. We’re into it.

It takes a lot of pressure off the dollar. It does a lot of good things. We’re into it. Biden was vicious on crypto — they were going after these crypto guys. It was terrible. They were under indictment. But I got indicted too.” 

We’re making the United States the Bitcoin superpower — the crypto capital of the world — and the undisputed leader in artificial intelligence.”

Trump’s comments mark a defining moment for the digital asset space—signaling that cryptocurrency and blockchain innovation could play a central role in shaping the U.S. economy under his renewed leadership vision.

On November 2, 2025, President Trump appeared on CBS’s 60 Minutes, where he addressed his views on cryptocurrency and his recent pardon of Binance founder Changpeng Zhao (CZ). When first asked about CZ, Trump said he didn’t know who he was but added that he “had to do the right thing”, explaining that he was told CZ was “a victim, just like I was and like many others, of a vicious, horrible group of people in the Biden administration.”

Trump went on to contrast his administration’s stance on digital assets with that of his predecessor. He said Biden “went all in on crypto at the very end because he thought he could get some votes,” but emphasized that his own position had been consistently pro-crypto.

“I only care about one thing — will we be number one in crypto? … I want to make crypto great for America. That’s the only thing. I don’t want China to be the world leader in cryptocurrency. Right now we’re number one by a long shot, and I want to keep it that way.”

Trump described cryptocurrency as a “massive industry” that creates jobs and reiterated that he had campaigned openly in favor of it, while Biden had campaigned against it. He framed U.S. leadership in both crypto and artificial intelligence as key priorities for maintaining American economic strength.

White House Crypto Chief Optimistic Remarks 

Patrick Witt (@PatrickJWitt), White House Crypto Chief, joined Ripple CEO Brad Garlinghouse at Ripple's annual Swell Conference, delivering some of the most encouraging remarks for the crypto industry to date.

Witt described how his passion for digital assets began during a year abroad in France, when managing U.S. funds overseas made him rethink what it truly means to own one's money. This experience sparked his interest in blockchain and self-custody.

Now an active crypto user, Witt is working to advance the industry from inside the government. Grading the administration's performance, he gave it an A– or B+, noting President Trump's pro-crypto stance and the administration's efforts to end what he called the "Gensler/Warren war on crypto." He highlighted that agencies like the Treasury, SEC, and CFTC are now "pro-innovation," pushing for favorable legislation.

"It's good policy, and it's pro-American. We are the innovation capital of the world, and we need to make sure we're doing everything we can to ensure innovation takes place at home."

Witt pointed out the dramatic shift in sentiment: while there were virtually no crypto acquisitions during the Biden administration, Q3 2025 saw 95 such deals. He expects more mergers and acquisitions (M&A) and partnerships as traditional finance continues to move further into crypto.

Reflecting on the legislative process, Witt recalled, "The bill's going to have to suffer a few near-death experiences before it finally survives the surgery. It's never as close to done as you think it is, but very few blowups are fatal. We need to keep the train moving in the right direction."

He stressed that passing the market-structure bill will mean "America wins"—predicting better, cheaper, and more efficient financial products for consumers. Witt noted his office has worked through the government shutdown, using the opportunity to secure meetings with senators who are typically unavailable.

Balancer Exploit: $128M Drained 

Balancer has published a preliminary incident report detailing the November 3, 2025 exploit of its V2 Composable Stable Pools (CSPs) across multiple blockchains, resulting in losses exceeding $128 million.

The attack stemmed from a rounding error in the “upscale” function during batch token swaps—specifically, in EXACT_OUT swaps where non-integer scaling caused values to be rounded down. Attackers exploited this flaw by manipulating internal pool balances through a series of calculated swaps, slowly draining liquidity before executing final withdrawals.

Only Balancer V2 CSPs and their forks (such as BEX and Beets) were affected; Balancer V3 and other pool types remained secure. Hypernative’s automated monitoring triggered an emergency suspension, and rapid coordination with white-hat responders helped recover some assets.

This vulnerability was overlooked in several previous audits, underscoring how even minor arithmetic precision errors in DeFi smart contracts can have devastating consequences.

Supercharging 6G: The Future of Ultra-Fast Networks and Kaspa 

Next-generation telephone networks are poised to surpass today’s systems, thanks to breakthrough technology that transmits multiple data streams across a vast range of radio and optical frequencies. Unlike current wireless systems, such as 5G, which often struggle with congestion at crowded events due to their reliance on the crowded 6 GHz frequency, this new approach dramatically expands available bandwidth.

Researchers led by Zhixin Liu at University College London have shattered records by harnessing an ultra-wide frequency band from 5 to 150 GHz. Their hybrid system uses radio waves for lower frequencies and lasers for higher ones, reaching a staggering data speed of 938 gigabits per second—over 9,000 times faster than typical UK 5G downloads.

This innovation uses orthogonal frequency-division multiplexing (OFDM) across the spectrum, synchronizing optically modulated lasers with quartz oscillators to ensure stable, low-noise signals at high frequencies. Liu likens the improvement to expanding 5G from two-lane roads to ten-lane highways, vastly increasing simultaneous data flow.

While this remains a lab breakthrough for now, the team is developing a prototype for commercial trials. If all goes well, this technology could be integrated into real-world equipment within three to five years—powering the next wave of 6G wireless networks.

The race to 6G is already underway, with commercial rollout expected by 2030. Industry groups and governments worldwide are developing standards for networks that promise up to 1 terabyte per second, ultra-low microsecond latency, and support for an extensive Internet of Things ecosystem.

Kaspa’s lightning-fast BlockDAG technology is a natural fit for these 6G ambitions. With parallel block processing and real-time, high-throughput performance, BlockDAG can power applications needing ultra-responsive, scalable, and secure distributed ledgers—from autonomous systems to immersive media and industrial IoT.

Together, ultra-wideband data transmission and BlockDAG blockchain architecture represent the leaps forward needed to unlock the full potential of 6G networks and tomorrow’s digital applications.

Bank of England Fast-Tracks Stablecoin Regulations 

At the SALT conference in London on November 5, 2025, Deputy Governor Sarah Breeden announced the Bank of England is fast-tracking stablecoin regulations to keep pace with the U.S. She emphasized ongoing collaboration with U.S. regulators and finance ministries to build a unified market framework, stating:

“I’ve been in discussions with the Federal Reserve… Regulators across the pond and our finance ministries are working together.”

The Bank is prioritizing “systemic” stablecoins—those widely used for payments and critical to the financial system. These will face stricter oversight, while less prominent stablecoins will be regulated under a lighter regime by the Financial Conduct Authority.

The new regulatory framework consultation is set for release on November 10, with rules likely to roll out in tandem with the U.S. by late 2025. Proposed temporary limits include £20,000 (about $26,000) for individuals and £10 million for businesses—measures designed to safeguard the UK’s mortgage market, which relies heavily on commercial banks.

This move underscores the UK’s commitment to striking a balance between innovation and financial stability, while closely aligning with U.S. regulatory progress.

Canada to Work on Stablecoin Legislation 

Canada’s 2025 Budget paves the way for formal stablecoin regulation, aligning with the global push to secure and modernize digital payments. The Bank of Canada will receive 10 million USD over two years (2026–2027) to develop the framework, with ongoing costs covered by annual fees from stablecoin issuers, estimated at 5 million USD.

The budget also proposes amendments to the Retail Payment Activities Act, strengthening oversight of payment service providers that handle stablecoin transactions. “Stablecoins: Budget 2025 introduces a new federal framework to regulate the issuance of fiat-backed stablecoins, making them safer for Canadians and businesses, and helping build trust in digital payments.”

Beyond payments, the plan establishes an Office of Digital Transformation to accelerate AI adoption and support Canadian-made, sovereign AI solutions, underscoring Canada’s commitment to innovation.

This initiative mirrors regulatory moves worldwide: the U.S. with the GENIUS Act, the EU’s MiCA, and forthcoming frameworks in Japan and South Korea. Canada’s step marks significant progress toward global stablecoin regulatory harmony.

Malaysia Accelerates Asset Tokenization Strategy 

On October 30, 2025, Bank Negara Malaysia (BNM) published a detailed roadmap for asset tokenization, outlining its strategy, key use cases, and initial regulatory direction.

Tokenization is rapidly transforming finance by enabling digital representations of assets on programmable platforms, thereby boosting efficiency, driving innovation, and expanding access. While it originated in crypto markets, distributed ledger technology (DLT) is now being explored by major financial institutions for broader, real-world applications.

BNM is taking a phased approach, starting with controlled pilots and regulatory sandboxes before expanding to broader adoption. The initial focus is on tokenizing real-world assets that deliver clear benefits to Malaysia’s financial sector and economy.

Accelerating asset tokenization is seen as key to maintaining Malaysia's competitiveness and supporting national priorities, including sustainability, Islamic finance, and digital growth.

The three-year roadmap begins with proof-of-concept trials and live pilots to identify regulatory gaps and refine policy. Supporting this effort are the Digital Asset Innovation Hub, launched in 2025, and an Industry Working Group established earlier this year.

African Stablecoin Network 

Nigerian fintech giant Flutterwave is partnering with Polygon to launch a stablecoin platform aimed at transforming cross-border payments across Africa. The initiative aims to speed up settlements and reduce costs for businesses and remittance recipients—addressing some of the most pressing challenges in Africa’s payment landscape.

Olugbenga Agboola, CEO of Flutterwave, highlighted the game-changing potential of stablecoins: “We are building Africa’s largest infrastructure for tomorrow’s money.” He noted that adopting stablecoins could significantly increase transaction volumes and drive economic growth throughout the region.

The pilot phase is scheduled to roll out in 2026, covering approximately 34 countries where Flutterwave operates. The platform will be integrated with Flutterwave’s “Send To” app for seamless user access.

By leveraging Polygon’s scalable blockchain, the partnership promises faster and more affordable cross-border payments, accelerating financial inclusion and unlocking new opportunities for African businesses and consumers.

Tangem Debuts Self-Custody Visa Card  

Tangem, a pioneer in hardware wallets, has unveiled Tangem Pay—a virtual Visa card linked directly to its self-custodial wallet. With Tangem Pay, users can seamlessly spend USDC on Polygon at any retailer that accepts Visa. Developed in partnership with Paera, the card works with Apple Pay and Google Pay, empowering users with instant, borderless payments and full control over their crypto assets.

Launching in late November, Tangem Pay will be rolled out to 38 countries across the U.S., Latin America, and the Asia-Pacific region, with European expansion planned for 2026. While the card requires KYC compliance, Tangem preserves self-custody—bridging the gap between crypto freedom and practical spending.

Tangem also leads in supporting Kaspa (KAS) cold storage, reinforcing its commitment to secure, user-controlled crypto custody.

JPMorgan Significantly Boosts Bitcoin ETF Holdings  

​J.P. Morgan's latest 13F filings (as of November 7, 2025) reveal the bank now holds 5,284,190 shares of the IBIT Bitcoin ETF, valued at 343 million USD as of September 30—a substantial 64% jump from its June 2025 position. The firm also holds 68 million USD in IBIT call options and 133 million USD in puts, underscoring its deepening involvement in the Bitcoin ETF market.

Notably, J.P. Morgan analysts have recently shifted their stance on Bitcoin, stating:

“The steep rise in gold prices over the past month has made bitcoin more attractive to investors, especially as the bitcoin-to-gold volatility ratio continues to drop below 2.0.”

President Trump Makes BTC History 

In a milestone for real-world crypto adoption, U.S. President Trump visited the Bitcoin Bar, Pubkey, in New York City before a rally and made a Bitcoin transaction. This was reported as “the first transaction by a President on the Bitcoin protocol.” While this is a notable moment for the U.S., it’s likely that leaders from other countries, such as El Salvador, have already embraced crypto payments.

Coinbase CEO Says Trading Hours are Outdated 

Coinbase CEO Brian Armstrong recently stated, “Trading hours and markets that close are outdated.” We couldn’t agree more—Kaspa’s always-on, instant-finality blockchain is designed for a future where markets never sleep.