{"id":14974,"date":"2025-11-02T14:28:05","date_gmt":"2025-11-02T14:28:05","guid":{"rendered":"https:\/\/bitunikey.com\/news\/binance-helps-trump-make-billions-tether-and-coinbase-post-profits-weekly-recap\/"},"modified":"2025-11-02T14:28:12","modified_gmt":"2025-11-02T14:28:12","slug":"binance-helps-trump-make-billions-tether-and-coinbase-post-profits-weekly-recap","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/binance-helps-trump-make-billions-tether-and-coinbase-post-profits-weekly-recap\/","title":{"rendered":"Binance helps Trump make billions, Tether and Coinbase post profits | Weekly Recap"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">In this edition of the weekly recap, the Trump family\u2019s crypto venture, World Liberty Financial (WLFI), begins spot trading on Binance.<\/p>\n<p class=\"is-style-default\">Plus, the imprisoned founder of the collapsed exchange Thodex died, crypto bank Custodia lost its multi-year battle for Federal Reserve access, and Tether posts quarterly profits.<\/p>\n<div class=\"wp-block-rank-math-toc-block\" id=\"rank-math-toc\">\n<p>Table of Contents<\/p>\n<nav>\n<ul>\n<li><a rel=\"nofollow\" target=\"_blank\" href=\"#binance-trump-family\">Binance, Trump family<\/a><\/li>\n<li><a rel=\"nofollow\" target=\"_blank\" href=\"#thodex-ceo-dies\">Thodex CEO dies<\/a><\/li>\n<li><a rel=\"nofollow\" target=\"_blank\" href=\"#appeals-court-denies-custodia-fed-access\">Appeals court denies Custodia Fed access<\/a><\/li>\n<li><a rel=\"nofollow\" target=\"_blank\" href=\"#tethers-quarterly-profits-match-banking-giants\">Tether\u2019s quarterly profits match banking giants<\/a><\/li>\n<li><a rel=\"nofollow\" target=\"_blank\" href=\"#bankman-fried-claims-ftx-was-never-insolvent\">Bankman-Fried claims FTX was never insolvent<\/a><\/li>\n<li><a rel=\"nofollow\" target=\"_blank\" href=\"#coinbase-surpasses-revenue-expectations\">Coinbase surpasses revenue expectations<\/a><\/li>\n<li><a rel=\"nofollow\" target=\"_blank\" href=\"#world-and-mythical-games-partner-on-id-verification\">World and Mythical Games partner on ID verification<\/a><\/li>\n<li><a rel=\"nofollow\" target=\"_blank\" href=\"#space-x-continues-bitcoin-portfolio-adjustments\">SpaceX continues Bitcoin portfolio adjustments<\/a><\/li>\n<li><a rel=\"nofollow\" target=\"_blank\" href=\"#mastercard-pursues-zerohash-acquisition\">Mastercard pursues Zerohash acquisition<\/a><\/li>\n<li><a rel=\"nofollow\" target=\"_blank\" href=\"#ethereum-completes-final-fusaka-testing\">Ethereum completes final Fusaka testing<\/a><\/li>\n<li><a rel=\"nofollow\" target=\"_blank\" href=\"#western-union-plans-stablecoin-launch\">Western Union plans stablecoin launch<\/a><\/li>\n<li><a rel=\"nofollow\" target=\"_blank\" href=\"#kalshi-sues-new-york-gaming-regulators\">Kalshi sues New York gaming regulators<\/a><\/li>\n<li><a rel=\"nofollow\" target=\"_blank\" href=\"#mt-gox-extends-repayment-deadline\">Mt. Gox extends repayment deadline<\/a><\/li>\n<li><a rel=\"nofollow\" target=\"_blank\" href=\"#indian-court-protects-xrp-holder-from-wazir-x-reallocation\">Indian court protects XRP holder from WazirX reallocation<\/a><\/li>\n<li><a rel=\"nofollow\" target=\"_blank\" href=\"#strategy-maintains-bitcoin-acquisition-pace\">Strategy maintains Bitcoin acquisition pace<\/a><\/li>\n<\/ul>\n<\/nav>\n<\/div>\n<h2 class=\"wp-block-heading\" id=\"binance-trump-family\"><strong>Binance, Trump family<\/strong><\/h2>\n<ul class=\"wp-block-list\">\n<li>Binance US, on Oct. 29, <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/x.com\/BinanceUS\/status\/1983157784297554278\">allowed<\/a> the Trump family\u2019s WLFI to begin spot trading. <\/li>\n<li>The news comes as Binance continues to help the Trump family\u2019s cryptocurrency venture earn billions. President Trump, for his part, pardoned Binance co-founder and former CEO Changpeng \u201cCZ\u201d Zhao, who had pleaded guilty in 2023 to money-laundering violations. <\/li>\n<li>Zhao served four months in prison as part of a $4.3 billion settlement with the Justice Department. After Trump\u2019s election victory, Binance created a task force to pursue a partnership with the Trump family\u2019s crypto venture, World Liberty Financial, in hopes of securing clemency for Zhao, the Wall Street Journal <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.wsj.com\/finance\/currencies\/binance-trump-crypto-pardon-cz-changpeng-zhao-1007fde9?mod=hp_lead_pos7&amp;AID=15734583&amp;PID=9043291&amp;SID=mhhs8qectu03tlhs0023y&amp;subid=Sovrn+Inc&amp;cjevent=daa743b1b7f411f0837302a30a82b836&amp;tier_1=affiliate&amp;tier_2=moa&amp;tier_3=Sovrn+Inc&amp;tier_4=2470763&amp;tier_5=https%3A%2F%2Fwww.wsj.com%2Ffinance%2Fcurrencies%2Fbinance-trump-crypto-pardon-cz-changpeng-zhao-1007fde9%3Fmod%3Dhp_lead_pos7\" target=\"_blank\" rel=\"nofollow\">reported<\/a>. Binance\u2019s support helped boost WLFI\u2019s stablecoin, driving its market cap from $127 million to more than $2.1 billion.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\" id=\"thodex-ceo-dies\">Thodex CEO dies<\/h2>\n<ul class=\"wp-block-list\">\n<li>Faruk Fatih Ozer, who established cryptocurrency exchange Thodex in 2017 and served as CEO until its April 2021 collapse, died in Turkish custody.<\/li>\n<li>He was serving an 11,196-year sentence, according to local media.<\/li>\n<li>An Istanbul court convicted Ozer alongside his siblings in September 2023 for aggravated fraud and money laundering.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\" id=\"appeals-court-denies-custodia-fed-access\">Appeals court denies Custodia Fed access<\/h2>\n<ul class=\"wp-block-list\">\n<li>The 10th Circuit Court of Appeals <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.ca10.88322\/gov.uscourts.ca10.88322.167.0.pdf\" target=\"_blank\" rel=\"nofollow\">ruled<\/a> against crypto bank Custodia\u2019s years-long effort to obtain a master account with the Federal Reserve\u2019s payment system.<\/li>\n<li>The decision affirms a lower court\u2019s ruling last year, preventing the Wyoming special-purpose depository institution from compelling the central bank to grant master account access.<\/li>\n<\/ul>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\" id=\"tethers-quarterly-profits-match-banking-giants\">Tether\u2019s quarterly profits match banking giants<\/h2>\n<ul class=\"wp-block-list\">\n<li>The world\u2019s leading stablecoin issuer disclosed $10 billion in profits for 2025\u2019s first three quarters on Friday.<\/li>\n<li>USDT issuer\u2019s reported net income exceeds Bank of America\u2019s $8.9 billion three-quarter profit and nearly doubles U.S. Bank\u2019s $5.5 billion earnings for the same period.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\" id=\"bankman-fried-claims-ftx-was-never-insolvent\">Bankman-Fried claims FTX was never insolvent<\/h2>\n<ul class=\"wp-block-list\">\n<li>The convicted founder asserted in a newly uploaded September 30 statement that Alameda Research and FTX maintained solvency and could have repaid customers shortly after the 2022 liquidity crisis.<\/li>\n<li>The 15-page document claims FTX entered November 2022 with $25 billion in assets and an equity value of $16 billion, exceeding the $8 billion in customer withdrawal requests.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\" id=\"coinbase-surpasses-revenue-expectations\">Coinbase surpasses revenue expectations<\/h2>\n<ul class=\"wp-block-list\">\n<li>The exchange reported $1.9 billion in third-quarter revenue Thursday, representing 26% quarter-over-quarter growth.<\/li>\n<li>Earnings per share reached $1.50, surpassing analysts\u2019 $1.10 expectations, while revenue showed 50% annual growth from the previous year.<\/li>\n<\/ul>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\" id=\"world-and-mythical-games-partner-on-id-verification\">World and Mythical Games partner on ID verification<\/h2>\n<ul class=\"wp-block-list\">\n<li>High-profile web3 projects World and Mythical Games are integrating to distinguish human gamers from automated bots through \u201cproof of human\u201d identity technology.<\/li>\n<li>Mythical will bring its player base to the World network while implementing World\u2019s ID technology for gamers accessing titles including \u201cNFL Rivals,\u201d \u201cFIFA Rivals,\u201d and \u201cPudgy Party.\u201d<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\" id=\"space-x-continues-bitcoin-portfolio-adjustments\">SpaceX continues Bitcoin portfolio adjustments<\/h2>\n<ul class=\"wp-block-list\">\n<li>Elon Musk\u2019s aerospace company executed another Bitcoin (BTC) transfer, moving 281 BTC (over $31 million) from Coinbase Prime custody to a fresh wallet.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\" id=\"mastercard-pursues-zerohash-acquisition\">Mastercard pursues Zerohash acquisition<\/h2>\n<ul class=\"wp-block-list\">\n<li>The credit card giant is reportedly in advanced discussions to purchase stablecoin infrastructure firm Zerohash for between $1.5 and $2 billion.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\" id=\"ethereum-completes-final-fusaka-testing\">Ethereum completes final Fusaka testing<\/h2>\n<ul class=\"wp-block-list\">\n<li>The blockchain\u2019s upgrade underwent a final dress rehearsal on the Hoodi testnet around 18:53 UTC.<\/li>\n<li>This is the third successful testnet simulation following earlier Holesky and Sepolia network upgrades.<\/li>\n<\/ul>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\" id=\"western-union-plans-stablecoin-launch\">Western Union plans stablecoin launch<\/h2>\n<ul class=\"wp-block-list\">\n<li>The legacy payments giant will introduce a stablecoin following third-quarter results showing surging digital wallet adoption.<\/li>\n<li>CEO Devin McGranahan revealed Monday that digital wallets and account-based payouts now account for over 50% of Western Union\u2019s digital transactions, while hinting at \u201cdigital asset-enabled solutions.\u201d<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\" id=\"kalshi-sues-new-york-gaming-regulators\">Kalshi sues New York gaming regulators<\/h2>\n<ul class=\"wp-block-list\">\n<li>The event-contract platform filed a federal lawsuit Monday seeking to block the state gaming commission from treating sports prediction markets as illegal gambling.<\/li>\n<li>The Manhattan-based company argues federal law preempts state gambling regulations for contracts traded on CFTC-overseen platforms.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\" id=\"mt-gox-extends-repayment-deadline\">Mt. Gox extends repayment deadline<\/h2>\n<ul class=\"wp-block-list\">\n<li>Court-appointed rehabilitation trustee Nobuaki Kobayashi postponed creditor repayments until Oct. 31, 2026.<\/li>\n<li>The Tokyo court formally approved the extension, addressing procedural complications that had prevented the distribution to the defunct exchange\u2019s creditors.<\/li>\n<\/ul>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\" id=\"indian-court-protects-xrp-holder-from-wazir-x-reallocation\">Indian court protects XRP holder from WazirX reallocation<\/h2>\n<ul class=\"wp-block-list\">\n<li>The Madras High Court granted \u201cinterim protection\u201d preventing the exchange from redistributing a customer\u2019s 3,532 XRP (XRP) holdings ($9,400) to absorb losses from July 2024\u2019s $230 million exploit.<\/li>\n<li>Justice N. Anand Venkatesh\u2019s order bars WazirX from reallocating the user\u2019s assets as part of broader loss-sharing arrangements among platform users.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\" id=\"strategy-maintains-bitcoin-acquisition-pace\">Strategy maintains Bitcoin acquisition pace<\/h2>\n<ul class=\"wp-block-list\">\n<li>The corporate holder purchased 390 BTC for approximately $43.4 million at roughly $111,053 per Bitcoin.<\/li>\n<li>Total holdings reached 640,808 Bitcoin acquired for approximately $47.44 billion at an average price of $74,032 per coin.<\/li>\n<\/ul>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>In this edition of the weekly recap, the Trump family\u2019s crypto venture, World Liberty Financial (WLFI), begins spot trading on Binance. Plus, the imprisoned founder of the collapsed exchange Thodex&hellip;<\/p>\n","protected":false},"author":1,"featured_media":809,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-14974","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/14974","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=14974"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/14974\/revisions"}],"predecessor-version":[{"id":14975,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/14974\/revisions\/14975"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/809"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=14974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=14974"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=14974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}