Coin Bytes Archives - Timescrypto

Kalshi Sues NY Regulators Over Sports Betting Crackdown

Kalshi has sued New York regulators since the state wants to label its contracts for sporting events as unauthorised gambling and impose a cease-and-desist order that might result in criminal and civil penalties. The New York State Gaming Commission’s cease-and-desist letter left the company with “no other practical choice to protect its commercial interests and those of its users except to bring this suit,” according to Kalshi, who filed the federal complaint on October 27. On October 24, the event contract platform received a formal cease and desist order from New York’s top gambling authority, which accused it of running illicit sports wagering services without a state licence. According to Kalshi, New York’s actions “threaten immediate and irreparable harm” to both its platform and its users.

Citi, Coinbase Team Up on Institutional Crypto Payments

In an effort to get Wall Street plumbing closer to on-chain money, Citi and Coinbase intend to create crypto asset payment capabilities for institutional clients. The partnership will initially concentrate on simplifying the transition between fiat and cryptocurrency before expanding into payments orchestration for continuous settlement. Fiat pay-ins and pay-outs for Coinbase’s on and off-ramps are the focus of the initial development. This area has long plagued organisations who trade continuously but fund through rails that don’t. Both companies stated that they will provide information on particular projects in the upcoming months, including choices that can result in different ways to pay out fiat money to stablecoins.

S&P Downgrades Michael Saylor’s Strategy to Junk Over Bitcoin-Loaded Balance Sheet

Michael Saylor’s strategy has received a “B-” credit rating from S&P Global Ratings, which is regarded as a junk or speculative grade. The grade was given to the company, which was formerly known as MicroStrategy, because of its high exposure to Bitcoin, poor dollar liquidity, and little business diversification. According to S&P, the company’s outlook is still stable. With this rating, Strategy becomes the first Bitcoin treasury company to obtain an official credit grade from a significant organisation. As part of its treasury strategy, Strategy, which changed its name from a software company to a Bitcoin holding company, buys and holds the cryptocurrency using the money raised from the issue of debt and stock.

Binance Weighs U.S. Return After Trump Pardons Founder Changpeng Zhao

Following President Donald Trump’s pardon of founder Changpeng Zhao, Binance is investigating strategic options to re-enter the US market. According to Bloomberg, the exchange is thinking about either integrating its distinct US affiliate into its global operations or having its main platform directly serve American investors. Given Binance’s recent $2 billion purchase involving Trump’s family cryptocurrency company World Liberty Financial, the pardon, which was granted on Wednesday after Zhao entered a guilty plea in 2023 to failing to maintain effective anti-money laundering controls, has generated a heated discussion about conflicts of interest. Wide-ranging legal ramifications of the presidential pardon might drastically alter Zhao’s relationship with Binance and its affiliates.

Western Union to Pilot Stablecoin Settlement System for Blockchain-Based Remittances

Western Union, a major player in the global payments industry, is getting ready to test a stablecoin-based settlement system, which will be its largest step towards blockchain-powered remittances to yet. With over 150 million clients in 200 countries, the program seeks to modernise how the business handles its around 70 million money transactions every quarter. CEO Devin McGranahan stated that the pilot will concentrate on utilising onchain settlement rails to lessen dependency on conventional correspondent banking networks during the company’s third-quarter results call on Thursday. For months, the business has been investigating the integration of digital assets. Adoption of stablecoins was first suggested by Western Union earlier this year, but it was postponed because of worries about volatility and ambiguous laws.

Ferrari to Launch Crypto Token for Elite Fans to Bid on Le Mans-Winning 499P

Ferrari is set to launch a crypto token aimed at its elite fanbase, allowing holders to bid on the brand’s Le Mans–winning 499P hypercar. The move is part of Ferrari’s broader strategy to connect with the AI-driven, tech-savvy generation and expand its reach among younger luxury buyers. By using blockchain technology, the company plans to offer exclusive digital ownership experiences and access to limited-edition assets, blending luxury, innovation, and digital engagement. The initiative reflects a growing trend among high-end brands adopting crypto and Web3 tools to enhance fan participation. For Ferrari, it’s not just about selling cars, it’s about reimagining how the world’s most passionate enthusiasts experience performance and prestige in the digital era.

Sharplink Gaming Adds $80M in Ethereum to Reserves

After a month of calm buildup, Sharplink Gaming added 19,271 Ether, or around $80.37 million, to its strategic reserve on Monday, indicating a renewed belief in the asset.
With the acquisition, the company’s holdings now total 859,400 Ether, or about $3.6 billion. This puts it second among reported corporate treasuries, behind BitMine, which owns nearly 3.24 million Ether, or $13.5 billion. According to ACY Securities, the new purchase aligns with Sharplink’s previous accumulation pattern and appears to be positioning ahead of future Ether ETF inflows or more favourable macro conditions. The company also stated that the action might be considered “smart front running” if the timing coincides with liquidity cycles.

Australia Surpasses Most Developed Nations In Terms Of Crypto Adoption

According to a16z’s State of Crypto 2025 report, Australia’s crypto adoption rate increased from 28% in 2024 to 31% in 2025, placing the country among the most crypto-engaged populations globally. Mobile wallet usage indicators indicate that activity in Australia is more focused on trading and speculation than in other developing nations.
The results coincide with the first time that the overall market value of cryptocurrencies has surpassed $4 trillion, and the number of active users worldwide has increased by about 10 million in the last 12 months to 40–70 million. While emerging markets like Argentina, Colombia, India, and Nigeria propel the rise of mobile wallets, established nations like Australia and South Korea lead in token-related web traffic. In the midst of a worsening currency crisis, Argentina has seen a 16-fold increase in mobile wallet usage over the past three years.

Bitcoin Could Fall As Much As 50%: Bitmine Chair

Bitcoin prices can see a sharp drop of nearly 50% as per Bitmine Chair Tom Lee. The prediction comes at a time when the price of the OG-crypto has seen drastic volatility owing to dampened market sentiments and geopolitical unrest. Following weeks of growing hostility and trade restrictions between Washington and Beijing, the White House announced that President Donald Trump will meet with Chinese President Xi Jinping in South Korea next week. This action temporarily eased market anxiety. Both parties have expressed interest in stabilising economic relations, and it is anticipated that the main topics of discussion during the scheduled meeting will be tariffs, technological regulations, and regional security. In the meantime, Trump’s announcement of fresh sanctions on Russia’s biggest oil companies, Lukoil and Rosneft, over the ongoing conflict in Ukraine heightened relations with the country.

Fidelity Crypto Adds Support for Solana (SOL)

Fidelity Crypto has expanded its offerings to include Solana (SOL), allowing users to buy, sell, and hold the popular blockchain token directly through its platform. This marks a major step for Fidelity as it continues to integrate more leading digital assets into its ecosystem. By adding Solana, Fidelity is giving investors exposure to one of the fastest-growing blockchain networks known for its high-speed, low-cost transactions and expanding ecosystem of DeFi and NFT projects. The move reflects rising institutional and retail interest in Solana, which has seen strong growth in developer activity and user adoption. Fidelity’s inclusion of SOL further bridges traditional finance with the crypto market, offering mainstream investors easier access to digital assets.

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