Top Stories of The Week
Ripple Rejects IPO Plans Despite SEC Case Victory: Here’s Why
Ripple, the US blockchain company behind the XRP cryptocurrency, has announced it will not pursue an initial public offering (IPO) following the conclusion of its years-long legal battle with the US Securities and Exchange Commission (SEC). Ripple president Monica Long told Bloomberg on Wednesday that the company has no plans or timeline for an IPO.
“We’re in a fortunate position where we’ve been able to be very well capitalized and fund all of our organic growth, inorganic growth, strategic partnerships, anything we want to do,“ Long said.
This decision ends years of speculation after multiple Ripple executives had hinted at a potential IPO. The company was hit with a $1.3 billion SEC lawsuit in late 2020.
Bitcoin Bull Run Hasn’t Started Yet: Jan3’s Samson Mow
Samson Mow, CEO and founder of Bitcoin technology infrastructure firm Jan3, argues that the Bitcoin bull run is yet to begin, even as Bitcoin prices fell just under $100,000 earlier this week.
“The Bitcoin bull run hasn’t started yet. We’re just marginally outperforming inflation at this price range,” Mow said on Wednesday.
Bitcoin and the broader cryptocurrency market continued to slump this week. Analysts attribute the decline to ongoing trade tensions between the US and China along with various macroeconomic factors. Bitcoin selling intensified on Tuesday, with CoinGecko data showing a dip to $99,607 on Wednesday.
Despite this, Mow remains bullish, forecasting plenty of upside ahead as Bitcoin outperforms the US inflation rate of 3%.
FBI Can’t Be Blamed for Wiping Hard Drive with $345M BTC, Say Judges
A US appeals court ruled against Michael Prime, a man convicted of identity theft, who claimed that the FBI illegally wiped a hard drive containing over 3,400 Bitcoin—worth approximately $345 million.
The three-judge panel at the Eleventh Circuit Court of Appeals found that Prime cannot sue the government over the loss of the key to access the Bitcoin. Interestingly, Prime had initially denied owning significant Bitcoin amounts and did not list the asset when seeking recovery of missing property after his release from prison in July 2022.
“Only later did Prime claim to be a bitcoin tycoon,” the judges wrote. The FBI wiped the hard drive as part of its standard procedure.
The Truth Behind the Comeback of Privacy-Focused Protocol Zcash in 2025
Privacy is back in vogue, with Zcash standing out as a clear winner in the market. The Zcash protocol has become a major topic within the crypto community on X (formerly Twitter), and the price of its native token, ZEC, has surged accordingly.
ZEC has been trading above $500 for the first time since 2018, powered by strong support from prominent industry commentators such as Arthur Hayes, Naval Ravikant, Mert Mumtaz, Ansem, Threadguy, and others. Their consistent advocacy for Zcash’s privacy-first benefits has helped fuel lofty price predictions and contributed to ZEC’s exceptional performance compared to other altcoins.
Polymarket Rife with ‘Artificial Trading,’ Columbia University Researchers Find
The rapid growth of prediction market Polymarket may not be entirely organic. A new study by Columbia University researchers uncovered significant wash-trading activity inflating the platform’s volumes.
In an 80-page paper titled “Network-Based Detection of Wash-Trading,” the team found that starting July 2024, wash trades accounted for nearly 60% of Polymarket’s total trading volume. This activity continued through late April 2025 before subsiding and then resurged to about 20% in early October 2025.
Overall, the researchers estimate that 25% of Polymarket’s trading volume over the past three years was artificial.
Winners and Losers
As of the end of the week, Bitcoin (BTC) is trading at $102,289, Ether (ETH) at $3,385, and XRP at $2.30. The total market capitalization stands at $3.44 trillion, according to CoinMarketCap.
Among the top 100 cryptocurrencies, the biggest altcoin gainers for the week are:
– Internet Computer (ICP) with a 163.79% increase
– ZKsync (ZK) up 144.42%
– Filecoin (FIL) rising 135.77%
The top altcoin losers this week include:
– Bittensor (TAO), down 20.44%
– Solana (SOL), dropping 13.15%
– Aerodrome Finance (AERO), declining 12.52%
For more information on cryptocurrency prices, be sure to check Cointelegraph’s market analysis.
Most Memorable Quotations
“Given what’s happening to stablecoins, which are serving emerging markets in a way that we thought Bitcoin would, I think we could take maybe $300,000 off that bullish case, just for stablecoins.”
— Cathie Wood, CEO of ARK Investment Management“The Bitcoin bull run hasn’t started yet. We’re just marginally outperforming inflation at this price range.”
— Samson Mow, CEO of Jan3“We like alignment with the community. We are a big player in crypto. We want to keep doing it. We like that our customers are engaged in it.”
— Shiv Verma, Senior Vice President, Finance and Strategy, and Treasurer at Robinhood“Distributed ledger technology that facilitates asset tokenisation could fundamentally transform our capital markets, in the same way as the introduction of CHESS once did.”
— Joe Longo, Chair of the Australian Securities and Investments Commission“Still a great area to accumulate positions on ETH.”
— Michael van de Poppe, Founder of MN Trading Capital“Crypto retail is in max desperation.”
— Matt Hougan, Chief Investment Officer at Bitwise
Top Prediction of The Week
Bitcoin briefly fell below $100,000 again on Friday as bulls aimed to establish a higher low. Data from Cointelegraph Markets Pro and TradingView showed BTC drifting near $99,000 around the Wall Street open.
Despite an attempt at a relief rally from multimonth lows, BTC/USD sustained pressure on buyers and late long positions. Monitoring platform CoinGlass reported that more than $700 million in crypto longs were liquidated over 24 hours.
The market appears to be entering a ‘bottoming phase,’ with traders watching closely to see if support holds.
Top FUD of The Week
Some traditional finance analysts warn that Bitcoin’s price could decline by nearly 50% if the current downtrend continues. Bloomberg analyst Mike McGlone suggested on X that Bitcoin hitting $100,000 could be “a speed bump toward $56,000.”
He noted that Bitcoin historically tends to revert to its 48-month moving average—currently around $56,000—after extended rallies.
However, onchain analytics firm Glassnode advises caution against excessive panic, noting that indicators don’t signal severe distress in the market.
Australia Risks ‘Missed Opportunity’ by Shirking Tokenisation, Says Top Regulator
Australia’s capital markets risk falling behind unless the country embraces innovations such as asset tokenization, warned Joe Longo, Chair of the Australian Securities and Investments Commission (ASIC).
Speaking at the National Press Club on Wednesday, Longo stated:
“As other countries adapt and innovate, there’s a real risk Australia could become the ‘land of missed opportunity’ or be passive recipients of developments overseas. The choice is innovate or stagnate—to evolve or become extinct.”
Cathie Wood Lowers Bitcoin Forecast by $300K, Citing Stablecoins’ Growing Market Share
Cathie Wood, CEO of ARK Investment Management, revised her long-term Bitcoin price forecast downward by $300,000. She cautioned that stablecoins are encroaching on Bitcoin’s intended role as a store of value in emerging markets.
“Stablecoins are usurping part of the role that we thought Bitcoin would play,” Wood told CNBC on Thursday. Previously, she had predicted Bitcoin could reach $1.5 million by 2030.
“Given what’s happening to stablecoins, which are serving emerging markets in a way that we thought Bitcoin would, I think we could take maybe $300,000 off that bullish case, just for stablecoins. Stablecoins are scaling here faster than anyone expected,” she added.
Top Magazine Stories of The Week
- Grokipedia: ‘Far Right Talking Points’ or Much-Needed Antidote to Wikipedia?
Elon Musk’s experiment to reshape online truth, Grokipedia, is touted as a more neutral and comprehensive rival to Wikipedia, but questions remain. - Philippines Blockchain Bill to Battle Corruption, Crypto KOLs Charged: Asia Express
Influencers promoting JPEX have been charged by Hong Kong police. Meanwhile, the Philippines’ anti-corruption blockchain bill is set for the Senate floor. - Why AI Sucks at Freelance Work and Real-Life Tasks: AI Eye
AI reportedly fails to complete 97% of tasks on Upwork and often misreports news, suggesting jobs in these sectors remain secure for now.
https://bitcoinethereumnews.com/tech/hodlers-digest-nov-2-8-cointelegraph-magazine-3/