Bernstein interprets Bitcoin's recent price decline as a mid-cycle correction rather than a market peak. Institutional demand and ETF inflows are offsetting selling pressure from long-term holders, preventing a liquidity crisis.

The White House is considering a proposal to allow the IRS access to Americans' offshore cryptocurrency accounts. This move aligns with the global Crypto Asset Reporting Framework (CARF), which aims to enhance tax compliance and is set for global implementation by 2027.

Mastercard is in talks to acquire Zero Hash, a blockchain infrastructure provider, in a deal valued between $1.5 billion and $2 billion. The move aims to strengthen Mastercard's position in the growing stablecoin and tokenized assets market.

Animoca Brands has acquired and locked AERO tokens to gain governance influence in Aerodrome Finance, a leading decentralized exchange on Coinbase's Base network. The move signals confidence in Base's ecosystem and strengthens Animoca’s integration of decentralized finance into its Web3 portfolio.

TeraWulf Inc. has formed a joint venture with Fluidstack Ltd. to develop a 168-megawatt AI data center in Abernathy, Texas, securing $9.5 billion in contracted revenue. The project marks TeraWulf's strategic pivot from Bitcoin mining to high-performance computing infrastructure. On October 29, 2025, the announcement triggered a stock surge of over 20%.

Nvidia has invested $1 billion in Nokia, securing a 2.9% stake in the telecommunications company. The partnership will integrate Nvidia's chips into Nokia's 5G and future 6G network software platforms. This announcement coincided with CEO Jensen Huang's keynote at the GTC conference.

Representative Ro Khanna has introduced legislation that would bar President Donald Trump, his family, and all members of Congress from trading cryptocurrencies or stocks. The move follows concerns over conflicts of interest linked to Trump’s pardon of Binance’s Changpeng Zhao. It also cites the crypto activities of Eric Trump’s World Liberty Financial.

BitMine Immersion Technologies has acquired 379,000 ETH through three transactions, representing a $1.5 billion investment. The purchase increases its total Ethereum holdings to over 3 million coins, about 2.5% of the circulating supply. This accumulation follows recent market turmoil and establishes BitMine as the largest corporate holder of Ether globally.

Chinese regulators have halted stablecoin initiatives by major tech firms including Ant Group and JD.com in Hong Kong. The move, confirmed on October 19, 2025, reinforces state control over digital currency issuance. It underscores Beijing's priority on the digital yuan (e-CNY) as the sole official digital currency.