Stay in the loop with our weekly crypto digest as we get you up to speed on the hottest trends and events in the crypto space.
Here’s what happened in crypto this week:
US President Donald Trump Pardons Convicted Binance Founder Changpeng Zhao
US President Donald Trump has pardoned the convicted Binance co-founder Changpeng “CZ” Zhao, the White House press secretary said, accusing Trump’s predecessor Joe Biden of behaving in a “very hostile” manner toward the crypto industry.
Binance was created in 2017, and swiftly became the world’s largest cryptocurrency exchange by volume, turning Zhao into a billionaire.
Following an investigation into the firm’s operations, Zhao pleaded guilty to violating US anti-money laundering laws in late 2023 and served a 4-month prison sentence in 2024.
Zhao’s pardon could help pave the way for Binance to return to the United States, around two years after it agreed to suspend its US operations in a deal to resolve the Department of Justice’s criminal investigation.
Tether Eyes Fresh Investments To Push USAT Stablecoin To 100 Million Americans At December Launch
Tether is set to launch its US-focused stablecoin, USAT, by December 2025, aiming to introduce a new financial tool to millions of Americans.
With strategic investments in platforms like Rumble and other companies, Tether plans to attract 100 million users.
The USAT token will be issued by Tether America, a joint venture between Tether and US crypto bank Anchorage Digital, both of which are working together to ensure full compliance with U.S. regulations.
Ardoino emphasized that the USAT will focus on providing a secure, compliant payment method for US users, making it suitable for everyday transactions. The token is expected to compete with other digital payment systems, such as PayPal, by providing a stablecoin for transactions in the creator economy and beyond.
Trump Picks Michael Selig For CFTC Chair Amid Crypto Expansion
Donald Trump has selected Michael Selig as the new CFTC Chair, a move signaling potential pro-crypto policies amid booming digital asset markets.
Selig, previously with the SEC’s Crypto Task Force, is viewed as an industry ally. His background suggests a push for balanced regulation that could foster innovation in the $3 trillion crypto space.
This appointment aligns with explosive crypto growth, with US volumes reportedly up 50% YoY in 2025.
Polymarket CMO Confirms $POLY Token And Airdrop Plans As Prediction Market Boom Gathers Steam
Polymarket will launch a token and airdrop a portion to its users, and it’s looking to Hyperliquid for inspiration.
That’s according to Matthew Modabber, the prediction market’s chief marketing officer, who confirmed the news during an interview on the Degenz Live podcast on Thursday.
“There will be a token, there will be an airdrop,” he said, adding that the firm wants the token to have utility and to “be around forever.”
The announcement caused a wave of excitement in crypto circles. But users will have to wait a while before the token launches.
“Right now our core priority is launching in the US and making a big splash there,” Modabber said. “After we take care of business on the US app and US launch there will be a focus on the token.”
World’s First Yen-Pegged Stablecoin Debuts In Japan
Japan has launched the world’s first yen-pegged stablecoin via startup JPYC, a notable step in a cash-dominated market. This could signal a shift toward digital finance in a traditional financial landscape.
The stablecoin, backed by domestic savings and Japanese government bonds, aims to offer a reliable digital alternative to fiat. JPYC’s initiative, approved by regulators, aims to integrate into Japan’s payment systems.
This move challenges the dominance of cash and cards in Japan, potentially paving the way for wider crypto adoption. It aligns with global trends, as major Japanese banks also explore stablecoin issuance.
Citi Taps Coinbase To Explore Stablecoin Payments For Clients
Citi is partnering with Coinbase to test stablecoin payment solutions for its clients, aiming to integrate digital assets into traditional finance with faster, cheaper transactions as crypto adoption grows.
The pilot aims to offer clients efficient cross-border payments and liquidity, tapping stablecoins’ potential for 24/7 settlement. It’s a pragmatic bet on blending TradFi with crypto infrastructure for real-world utility.
MetaMask Registers Domain For Claiming MetaMask Tokens, Indicating Nearing Airdrop
The most popular wallet app, MetaMask, has registered a domain name to claim MetaMask tokens, which may indicate that the airdrop is approaching.
The probability of “MetaMask will issue tokens this year” on the prediction platform Polymarket has increased to 35%.
The website in question is currently hidden behind a password-protected Vercel Authenticator interface. However, it’s not yet clear whether the site has any official affiliation with MetaMask or its parent company, Consensys
MetaMask officials have long talked about a token plan. Consensys CEO Joe Lubin said in September that the $MASK token could arrive “sooner than expected” and that it would be a step toward decentralization for MetaMask.
Final Thoughts
So that’s it for this week!
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Have a fantastic week ahead!
