Weekly: SBF back in the spotlight, Western Union steps into crypto, and the US–China tension takes a pause

SBF and his “confession”

Sam Bankman-Fried, the former head of FTX, decided to make himself heard again. He published a document claiming that the exchange and Alameda Research were actually solvent, and that everything fell apart because the lawyers “took control.”

The community reacted skeptically: most believe that SBF is simply trying to improve his image and may be preparing the ground for a possible pardon request.

Western Union prepares its own stablecoin

The company that almost everyone knows has decided to take its step into crypto. Western Union plans to launch a stablecoin called US Dollar Payment Token (USDPT) in the first half of 2026.

Experts say that the arrival of such a player could significantly boost trust in the crypto market, as when corporations with long histories join the game, it’s always a sign that the market is maturing.

A pause in the US–China trade war

On the macro level – a bit of relief: tensions between the US and China have slightly eased, which gave a positive start to the week for cryptocurrencies.

But the celebration didn’t last long – after another statement from the Fed Chair, Bitcoin dropped below $107,000.

The crypto market

Bitcoin started the week quite well but fell below $107,000 by the end of October, before slightly recovering. As a result, October became the first month of decline since 2018, down about 3.7%.

Analysts at CryptoQuant explain this by weak institutional demand – there was simply too much supply on the market.

Ethereum behaved similarly, but its recovery after the drop was less confident. At the time of publication, it trades around $3,863, and October closed with a decline of roughly 7%.

What’s worth noting

In the crypto fund segment, there were noticeable moves: spot Bitcoin and Ether ETFs showed significant inflows and outflows — $446 million and $243 million, respectively.

The AI world also keeps moving forward. Elon Musk presented the project Grokipedia — an encyclopedia edited by artificial intelligence.

Why it matters

When players like Western Union enter the crypto sphere, it’s a sign that the technology is becoming part of the mainstream.

And even if SBF is trying to “clean up” his name, his story shows how quickly the market learns from its own mistakes.

Macroeconomics remains the main factor driving prices: as long as central banks keep up the pressure, crypto will move in sync with them.

Kursoff’s opinion

The smartest strategy right now is to watch, not panic, and keep a close eye on the big players — because they’re the ones shaping the next wave of trends.