This week saw major developments in the cryptocurrency industry, starting with President Donald Trump pardoning Binance founder and former Binance CEO Changpeng Zhao, a move that reflects the Trump administration’s positive approach to the crypto industry. Meanwhile, Indian cryptocurrency exchange WazirX is set to resume trading after a 16-month shutdown.
Ethereum
Ethereum has entered the final testnet phase of the Fusaka upgrade ahead of its planned December 3 rollout. The hard fork features an improvement proposal that sets a gas fee limit for each transaction to improve block efficiency, reduce DoS risks, and create the groundwork for parallel execution.
DeFi
Bunni DEX has shut down following an $8.4 million exploit. The project is the second major project to shut down this week after Kadena. The Bunni DEX team stated that they could not afford the costly audits required to relaunch the project.
Solana co-founder and CEO Anatoly Yakovenko has announced plans for a new decentralized exchange called Percolator, following the success of Astar and Hyperliquid. The announcement comes two months after a VanEck report highlighted the growth of Hyperliquid at Solana’s expense.
Byrrgis is the DeFi hub behind the WOLF token, a utility platform designed to restore confidence in crypto by combining transparency, automation, and professional-grade tools that help traders invest safely across chains.
Business
Ripple Labs is launching a fundraising effort to purchase $1 billion worth of XRP tokens to fund a new digital asset treasury. The company already holds 4.6 billion XRP tokens and another 37 billion XRP locked in escrow.
Coinbase has partnered with American Express to launch the Coinbase One card. First Electronic Bank issues the Bitcoin rewards credit card, which operates on the American Express network.
Tether CEO Paolo Ardoino has revealed that the USDT stablecoin now serves 500 million users globally. The milestone highlights Tether and USDT’s growing influence in the digital finance space.
JPMorgan Chase has upgraded Coinbase shares from “Neutral” to “Overweight” on the monetization potential of the Base Network. The bank also highlighted changes to Coinbase’s USDC rewards program and new Base-integrated DEX features as crucial to driving profits and risk-management levers.
Security
Indian cryptocurrency exchange WazirX resumed trading on Friday, sixteen months after a devastating hack that forced the platform to suspend all operations. The $230 million security breach was orchestrated by the dreaded Lazarus Group.
Regulation
US President Donald Trump has pardoned Binance founder and former CEO Changpeng Zhao. Zhao was sentenced to four months in prison after pleading guilty to one count of failing to implement adequate anti-money laundering programs at Binance and violating the Bank Secrecy Act.
United States Securities and Exchange Commission (SEC) Chair Paul Atkins believes the US is at least a decade behind its rivals when it comes to crypto regulation and innovation. Atkins has promised to create a strong framework, making catching up with its rivals a “top priority.”
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice
