Stories of multiple stablecoin launches, a crypto trading ban bill, new partnerships, and an interest rate cut covered last week, bidding farewell to October’s blockchain news cycle. Yes, October, which has cheated its typical bullish Uptober momentum, came to an end with tumbling market prices that rarely blinked green but mostly red.
Now, November is here with a lot of expectation for good price movements and other developments. However, the US shutdown stays the same, which could further potentially hit the market if the government fails to take positive action.
If you want to take a sneak peek at what happened last week, here is a quick look at the top stories that rotated the blockchain news globe.
Canary Capital files updated S-1 for spot XRP ETF
Investment firm Canary Capital has submitted an updated S-1 filing with the Securities and Exchange Commission (SEC) for a spot XRP ETF. This indicates a growing institutional interest in Ripple’s XRP token.
Steak ‘n Shake commits to strategic Bitcoin reserve
Steak ‘n Shake, one of the leading American fast-food chains, has established a strategic Bitcoin reserve, where it will store all payments received in Bitcoin.
The US Fed cuts interest rates again
The Federal Reserve of the US announced another interest rate cut last week. The committee lowered the rate by 25 basis points or 0.25%, bringing its benchmark rate to a new target range of 3.75% – 4.00%. However, this rate cut did not trigger the crypto market.
Russia to legalize crypto for foreign trade
Russia’s Finance Ministry and Central Bank are working to legalize cryptocurrency for cross-border settlements. This is a move to reduce dependence on traditional financial systems that are controlled by Western countries.
Elon Musk unveils X Chat
Billionaire Elon Musk is gearing up to launch a messaging app called X Chat, described as a competitor to Telegram and WhatsApp. As he stated in a podcast, the messaging app has an encryption ‘similar to Bitcoin’.
Hong Kong champions first Solana ETF
Hong Kong regulators have approved the first Solana-based exchange-traded fund (ETF) in the region, broadening access to crypto investments beyond Bitcoin and Ethereum.
Sam Bankman-Fried claims FTX was ‘never insolvent’
Sam Bankman-Fried (SBF) insisted that the collapse of his FTX exchange arose from a liquidity crunch rather than insolvency. In simple words, FTX did not run out of money altogether; instead, he claimed, the exchange did not have enough liquid cash in hand to give users when they rushed to withdraw their funds.
Western Union eyes for USDPT
Western Union is planning to launch a US dollar-pegged stablecoin called USDPT or U.S. Dollar Payment Token on Solana in the first half of 2026.
That’s a quick roundup of top stories that shaped the crypto news world last week. The crypto market was mostly dry and starving; however, the news floor was rich with collaborations, AI innovations, stablecoin launches, and institutional adoption of crypto. Stay ahead with AltCoinDesk to catch up with weekly news stories.
