Wednesday, 29 October 2025

The crypto partner of PayPal in this case is Paxos Trust Company 11:12 31/10/2025



 

They issued the stable coin called PYUSD (PayPal USD) in partnership with PayPal.

 

Their role: minting and burning the stable coin, ensuring that PYUSD is backed 1:1 by U.S. dollars and equivalent reserves (as claimed).


 The error: “$300 trillion” minting
 

On October 15 2025, Paxos mistakenly minted about $300 trillion worth of PYUSD tokens during an internal transfer

Paxos says it was an internal “technical error” (not a hack), and that it immediately identified the issue and “burned” the excess tokens within 20 minutes.

Despite the scale of the error (far exceeding actual backing or the world’s GDP), Paxos asserts that customer funds were safe.

 Why this matters


The incident raises concern about operational controls in stable coin issuance: how could such a huge minting occur if the system is meant to tightly control issuance.Stable coin backing: PYUSD is claimed to be backed by U.S. dollar deposits, Treasuries, etc. But the “$300 trillion” minted obviously couldn’t be backed. This discrepancy draws attention.  Trust & regulation: For PayPal and Paxos, this is a reputational blow and may attract regulatory scrutiny. 

 

 

 

 

 

 

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Tuesday, 28 October 2025

Latest Crypto Treasury And Institutional Crypto Dominance 29/10/2025 11:46 AM

 

 


 

 

 

U.S. firms dominate global crypto treasuries

Research firm Sentora’s “Crypto Treasury Tracker” found that U.S. entities (corporations, private firms, DAOs, exchanges) hold about 73% of the value of global crypto treasuries. 

 

The total size of the institutional/organisational crypto treasury pool is estimated to be in the “low hundreds of billions” of USD.

Separately, many U.S.-listed firms are increasing their crypto holdings (e.g., American Bitcoin Corp. boosted its holdings to 3,865 BTC (US$441 million) recently.




 Market influence & liquidity

With U.S. firms holding a large share of institutional crypto reserves:
 

Their decisions (buying, selling, disclosing) can have outsized effects on markets — global crypto price, liquidity, sentiment.

Concentration means fewer large actors controlling large volumes → higher “systemic” risk if one acts.


 

 

 Regulatory & jurisdictional risk

Because many of the assets are held by U.S.-domiciled entities:
 

U.S. regulation (SEC, Treasury, IRS) becomes even more relevant globally. Changes in U.S. policy will ripple into crypto markets worldwide.

For non-U.S. firms or investors (e.g., in India) this means some “global crypto” risks are tied to U.S. law/regulation indirectly.



 Signalling institutional adoption

The trend that corporations are treating crypto (especially Bitcoin, Ethereum) as treasury/strategic reserve assets rather than purely speculative instruments is meaningful. It suggests maturation of the asset class. 


 Implications for emerging / non-U.S. markets
 

 In India and Asia, even if local firms/treasuries hold less, the dominant role of U.S. entities means global flows, pricing and liquidity may be shaped by U.S. activity.

Local regulation needs to account for the fact that “global” crypto is heavily U.S. anchored.

For Indian corporate treasuries or investors, understanding these U.S. dominated dynamics helps in strategy & risk-assessment.

 

 

 Key risks & caveats
 

 The 73% figure covers “crypto treasuries” tracked by Sentora —  The data may have gaps or bias toward tracked entities.

Crypto is volatile: Even large holdings can be subject to large value swings, meaning treasuries are risky from a corporate finance perspective. 

Concentration risk: With so much held by relatively few entities, a major firm liquidation or regulatory shock could have outsized impact.

Regulatory, accounting & tax frameworks remain uneven globally; what U.S. firms do may not translate directly to Indian context.

Even though U.S. firms dominate, there are emerging non-U.S. treasuries (Japan, Asia) which may increase their role.


 What this means for India / Indian investors & firms
 

If you’re an Indian investor: Recognize that global crypto supply/demand and institutional flows are heavily influenced by U.S. players. Moves by those firms can affect price, risk, access, liquidity.

 

If you’re an Indian company considering crypto on your balance sheet: Understand that you’ll be operating in a space where U.S. corporate and regulation set a significant backdrop.

For Indian regulation: The fact of U.S. dominance may raise issues of global regulatory alignment, cross-border custody, asset jurisdiction, tax implications.

Local firms might still carve niche roles (e.g., focusing on local market, local regulations, region-specific assets), but must account for global interconnections.






Here’s a summary of the key findings from the Sentora “Crypto Treasury Tracker” (and related reports) — which help you understand how crypto treasuries are distributed globally and which entities hold what. These are based on available public-data and estimates, not full disclosure from all entities. Use for informational purposes, not investment advice.



Total size of crypto treasuries


 According to Sentora, the global total of institutional/organisational crypto treasuries is in the “low-hundreds of billions” of USD. 

 

One source (Best Wallet citing Sentora) estimates $238.6 billion as of September 2025.

 

The tracker states 324 entities holding crypto assets: 244 holding Bitcoin, 75 holding Ethereum, 17 holding Solana (as of one snapshot) 


Concentration by Country / Region

 U.S. entities reportedly hold about 73% of global crypto treasury value in Sentora’s database. 

 For example: The U.S. and China (in one data line) each held $22.3-$22.5 billion (though this appears to conflict slightly with the 73% number, suggesting varying definitions).



Asset breakdown and trends

 On Bitcoin: Sentora reports 1.86 million BTC held by treasuries as of August 2025. 

 

Large public companies make up a significant portion of holdings. For example, in a report: of 1.79 million BTC held by 213 entities, 71.4% was on public company balance-sheets.


A theme: Start-ups tend to hold more Solana; crypto-native firms more Ethereum; large corporations/governments more Bitcoin.

 

 

Top 10 Crypto Treasuries (October 2025)

  1. Strategy Inc. (US) Bitcoin  = $78.0bn
     
  2. United States Government (US)  Bitcoin  = $22.7bn
     
  3. China Government (CN)  Bitcoin = $21.8bn
     
  4. Block.one (US) Bitcoin  = $18.8bn
     
  5. BitMine Immersion Technologies (US) Ethereum = $15.3bn
     
  6. Tether Holdings Ltd. (BVI) Bitcoin = $10.0bn
     
  7. United Kingdom Government (UK) Bitcoin = $7.0bn
     
  8. MARA Holdings (US)  Bitcoin = $7.3bn
     
  9. Ukraine Government (UA) Bitcoin = $5.3bn
     
  10. XXI (US) Bitcoin = $5.0bn





Popular crypto trading apps in India (2025)29/10/2025 not a recommendation, just for your awareness






1.Coin DCX     
Indian-founded, supports many assets & INR trading.    

Regular spot trades typically around 0.1%-0.3% per transaction  .

For INR-margin futures: maker fee ~ 0.02%, taker fee ~ 0.05% on VIP tier. 

INR withdrawals: no fee. Crypto-withdrawals: example BTC withdrawal fee = 0.0005 BTC

One of India’s large exchanges; supports hundreds of cryptos, spot + margin + derivatives in some cases.

Intermediate traders who want wide asset choice and more features.

 

 

2. Coin Switch Kuber

 


 

 

Mobile-first, simple interface, good for beginners.  


Simple UI, mobile-first, good for INR deposits, aggregates liquidity.

Fees from ~0.4% for spot trading in some cases.  


Beginners or those who want simplicity and ease of use.

 

 

 

 

 

 

 

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Wednesday, 8 October 2025

Stablecoin adoption set to boost demand for the U.S. dollar, says JPMorgan. 11.19 AM 09102025

 

 

 

 


 Additional Dollar Demand from Stablecoins


JPMorgan analysts estimate that increased stablecoin adoption could lead to around USD 1.4 trillion** of extra demand for the U.S. dollar by 2027.

 

Peg to the Dollar is Key
They point out that 99% of existing stablecoins are pegged 1:1 to the U.S. dollar or dollar-based assets. Thus, buying stablecoins often implies buying dollars or dollar-denominated assets. 

 

Reinforcing Dollar Dominance, Not Weakening It
 Contrary to some expectations that digital currencies might erode the dominance of the dollar (de-dollarization), JPMorgan suggests stablecoins could actually bolster the dollar’s role in global finance. 

 

Uncertainty & Different Scenarios


The bank acknowledges that estimates vary within its own teams. Some foresee a stablecoin market size of USD 500 billion, while others are more bullish (up to USD 2 trillion). The USD 1.4 trillion extra demand is a higher-end scenario. 

   Also, whether demand is truly new dollar demand (versus just rotation from existing dollar holdings) is an open question. 

Correlation Observations
JPMorgan notes a relatively tight relationship over the past two years between the value of the U.S. dollar and total stablecoin market capitalization, hinting at some linkage between crypto flows and foreign exchange dynamics.
 

 

 

 Risks, Caveats .

Not All Demand is “New”
 If stablecoin buying is financed by converting other dollar holdings (e.g. bank deposits or money market funds) into stablecoins, this may be dollar-neutral overall. True fresh demand would have more impact.

Volatility & Run Risk
 Even “stable” coins can face destabilization in stress scenarios, which could trigger rapid redemptions and strains on reserve backing. 

 

Regulation & Reserve Requirements
  Growth may be constrained by regulatory frameworks requiring high-quality, transparent reserves (e.g. cash, Treasurys) for stablecoin issuers. Enforcement, auditability, and trust in reserves matter.
 

Currency Competition
 There is emerging interest in stablecoins pegged to non-dollar currencies (e.g. euro stablecoins). Some jurisdictions may want local or regional stablecoins, which could partially offset pure dollar demand. 

 

Macro & FX Fluctuations
Global interest rates, U.S. monetary policy, and FX flows will also influence the dollar’s strength irrespective of stablecoin trends.

 

 

 Implications & What to Watch
 

Dollar Strength Pressure

If stablecoin expansion accelerates, it may create additional tailwinds for USD demand, particularly in cross-border, crypto, and institutional capital markets.
 

Flows from Emerging Markets
In many emerging economies with weaker currencies or capital controls, stablecoins offer a way to hold U.S. dollar exposure digitally, potentially pulling capital away from local banking systems .

 

Treasury & Bond Markets
  Issuers backing stablecoins often hold U.S. Treasuries or cash. Thus, more stablecoins might create additional demand for Treasuries, affecting yields and funding dynamics.
 

Regulatory Acceleration
To support safe growth, regulators might push for rigorous reserve audits, transparency, or capital requirements for stablecoin issuers. The U.S. GENIUS Act is one example of legislative effort.
 

 

Strategic Positioning for Institutions
Banks, exchanges, fintechs, and even sovereigns may start positioning themselves to issue or integrate stablecoins — both fiat-pegged and programmable — which could integrate traditional and crypto finance more tightly.

 

 

 

 

 

 

 

 

 

 

 

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Binance Pilots Crypto-as-a-Service in India ( Helping financial institutions offer crypto trading services )

 

 

 

 




Binance has launched a product called Crypto-as-a-Service (CaaS).

It’s a white-label plug-and-play infrastructure service for regulated financial institutions(banks, brokerages, exchanges) to offer crypto trading. 

Binance handles the backend infrastructure for liquidity (spot and futures), custody, settlement, compliance, etc. 

The institutions retain control over the front-end, branding, and client relationships. They can present to their clients under their own brand.

There is a capability for “internalised trading” institutions may match orders between their own clients (if conditions allow) before routing excess to Binance’s global order book.

Integrated tools for KYC, compliance, monitoring, dashboards for institutional management of trades, clients etc.

 

Timeline & Geographies
 

 The early access  pilot phase started 30 September 2025. 

General availability (wider rollout) is expected in Q4 2025. 

India is among the markets where Binance is piloting this service.



For financial institutions:
 

Lowers barriers: they don’t have to build the complex backend (custody, compliance etc.) themselves. 

Faster go-to-market with branded crypto services.

Can offer more services (spot, futures, variety) without needing all infrastructure in place.

For the crypto / regulatory ecosystem:
 

Can help bring more regulated oversight, better compliance, because institutions are likely to demand clearer regulation and risk management.

Could blur lines between traditional finance (“TradFi”) and crypto, leading to more hybrid models.

For users:
 

Potentially more trusted platforms (if their bank or brokerage offers crypto via this route).

Possibly smoother user experience, less switching between platforms.

 

 Implications for India


Binance has registered with India’s Financial Intelligence Unit (FIU-IND), becoming a “reporting entity” under India’s AML / anti-money laundering rules.

 

This helps Binance operate more legitimately / compliantly in India. 


Potential impacts
 

Indian banks, brokerages might adopt CaaS to offer crypto trading or custody services under their own brands, using Binance’s backend.

Clients may have more regulated options for crypto via their existing financial institutions, potentially with better legal clarity.

Could accelerate adoption of crypto if trust in infrastructure + compliance is stronger.



Risks, Challenges, & Uncertainties
 

Regulation

 While Binance is registered with FIU in India, the regulatory landscape for cryptocurrencies / VDAs (Virtual Digital Assets) is still evolving. Laws, taxation, restrictions may shift.

Compliance burden Institutions will still need to ensure local compliance (KYC, AML, reporting), which isn’t trivial.

Risk of dependency Institutions relying heavily on Binance’s infrastructure may be vulnerable to policy, legal, or operational risks affecting Binance.

Reputation / trust For institutions to use CaaS, they must trust Binance’s backend, security, custody practices. Any misstep by Binance globally could impact partners.


Here are **50 current keywords / search terms** in India related to crypto, based on recent trends, news, and interest. These could help with SEO, content ideation, market research, etc.



Bitcoin India , Ethereum price India ,Web3 startups India ,Crypto regulation India ,

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Spot gold surpasses $4,000for the first time 15.34 pm 08/10/2025

 

 

 


 

Gold has significantly extended its record-breaking rally, trading near $4,025 at 05:00 UTC after a 1% rise on Wednesday, marking its first breach of the $4,000 threshold. This remarkable ascent sees the precious metal up 3.5% this week and an impressive over 53% year-to-date, largely driven by investors shifting towards safe haven assets amidst broader dollar weakness. Demand for gold-backed exchange-traded funds has been particularly fueled by a recent September US Federal Reserve rate cut and the ongoing US government shutdown, further propelling its upward trajectory, with Goldman Sachs now anticipating gold will reach $4,900 by December 2026, citing robust central bank and private sector buying.

 

 

 

 

 

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Tuesday, 7 October 2025

Deutsche Bank: Bitcoin “Likely” to Appear on Central Bank Balance Sheets by 2030 11.35 08/10/2025

 

 

 


 

Deutsche Bank recently stated that Bitcoin is “likely” to be included on central bank balance sheets by 2030.
 

 

Key Points:
 

The bank believes Bitcoin could gain more institutional and governmental acceptance over the next few years.

Growing adoption by financial institutions and national governments may push central banks to hold Bitcoin as part of their reserve assets.

This prediction reflects the mainstreaming of digital currencies, not just among investors but also at the policy level.

It aligns with the global trend of crypto regulation and integration into traditional financial systems.

👉 In short: By 2030, central banks may treat Bitcoin more like gold — as a strategic asset in their reserves.
 

 

 

 

 

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Russia Plans Nationwide Cryptocurrency Audit by 2026 11.24 AM 08/10/2025

 

 

 




Survey by the Central Bank of Russia


The Bank of Russia plans a large‐scale survey audit of crypto investments and lending to crypto‐related businesses in early 2026. 

The survey will cover companies regulated by the bank, assessing how much they invest in crypto, how much they lend to crypto companies, etc.

It will also include individuals who hold digital financial products whose returns are tied to the price of cryptoassets (e.g. derivatives or similar instruments).

 

The timeframe for collecting these data is January–February 2026. The deadline for regulated entities to provide data is by February 1, 2026.


Monthly Reporting for Derivatives


   The central bank has ordered that institutions dealing in crypto derivatives (e.g. Moscow Exchange, banks offering them) submit monthly reports on transaction volumes.


What Is Unclear / Possibly Overstated

 

Some media describe it as a “large-scale audit of the nation's crypto holdings and transactions,” which could suggest a much broader scope. But in the more authoritative sources, it's described as a survey of regulated entities and selected financial instruments, not necessarily tracing every single crypto wallet or transaction by every individual. 

 

It’s not yet confirmed that this will cover unregulated or underground crypto activity, or informal holdings outside of regulated financial or corporate channels.
 

 

Why It’s Being Done
 

To assess risks associated with crypto investments & lending for banks and financial institutions. 

To inform regulatory policy, possibly tighten oversight, and improve reported data. 

To understand how much exposure the economy, companies, individuals have to crypto, especially via Derivatives / digital financial assets whose value depends on crypto prices.

 

 

 

 

 

 

 

 

 

 

 

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EU Targets Ruble Stable A7A5 for Sanctions: Bloomberg 19.00PM 07/10/2025



 

 

 


 

 

Here’s a breakdown and analysis of the news: EU Considers Imposing Sanctions on Ruble-Backed Stable coin A7A5 what’s going on, why it matters, and likely implications.




According to Bloomberg, the European Union is proposing sanctions on A7A5, a stable coin pegged to the Russian ruble, which is tied to entities already under sanctions. 

 The proposed restrictions would bar EU-based persons and entities from participating in transactions (directly or indirectly) involving A7A5. 

Besides targeting the stable coin itself, the sanctions may also include banks in Russia, Belarus and Central Asia accused of facilitating crypto-related transactions tied to A7A5 or its network.

Note: For EU sanctions to become binding, all 27 member states must agree and finalize the measure.



To understand why A7A5 is being targeted, here’s what to know
 

 A7A5’s Role


  A7A5 is a stable coin backed by ruble deposits, created to facilitate cross-border payments especially in and through jurisdictions that may be outside traditional banking systems. 

  It has gained traction as a possible method for sanctions evasion, allowing movement of value in and out of Russia, circumventing parts of the traditional financial system.

Precedents


  The U.S. and U.K. have already imposed sanctions on related entities (e.g. the exchange Grinex, Old Vector) that are linked to A7A5. 

Evasion Tactics
  After earlier sanctions, reports suggest A7A5’s operators burned / destroyed tokens in wallets linked to sanctioned exchanges and reissued them elsewhere to sever traceability. 

Rapid Growth
  The coin has seen large transaction volumes and growth, which draw more scrutiny.
 

 

 Why This Matters
 

Sanctions Enforcement via Crypto
 This marks an intensification of efforts by governments (especially Western blocs) to use regulatory tools over crypto instruments, not just over traditional banks.

Precedent for Crypto Regulation
   If the EU successfully sanctions a stablecoin itself (not just related actors), it expands the scope of what’s considered sanctionable in crypto.

Challenges in Enforcement
   Crypto flows are cross-jurisdictional and decentralized. Even if EU entities are barred, transactions may shift to other jurisdictions or find indirect routes.

Impact on Crypto Projects & StablecoinS
   Other stablecoins and crypto projects may face higher compliance risk. Projects will need stronger transparency, AML/KYC, and regulatory resilience.

Geopolitical Finance Warfare
   The move underscores how digital assets are becoming frontlines in geopolitical conflicts and economic sanctions.

 

 

 

 

 

 

 

 

 

 

 

 

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Quantum Crunch Hits Crypto: Mobilize or Melt 19.00 PM 07102025








Quantum computing's relentless march poses an existential risk to the cryptographic foundations of cryptocurrencies. Algorithms like Shor's could shatter elliptic curve cryptography (ECC) that secures Bitcoin and Ethereum wallets, potentially exposing private keys and enabling theft on a cosmic scale. As quantum processors edge closer to "quantum supremacy" with qubits in the thousands, the timeline for this doomsday scenario shrinks—experts peg it at 5-10 years, urging the crypto ecosystem to pivot from complacency to code red. Without proactive upgrades, trillions in digital assets could evaporate overnight, turning blockchain's promise of unassailable security into a relic of the classical era.

The antidote? Quantum-resistant cryptography, already bubbling up through NIST's post-quantum standards like lattice-based schemes and hash signatures. Projects like Ethereum's roadmap and Bitcoin's potential soft forks signal momentum, but adoption lags behind the hype—wallets, exchanges, and layer-2 solutions must integrate these defenses yesterday. Time to get moving isn't hyperbole; it's a rallying cry for developers, miners, and regulators to collaborate on a seamless transition. In this quantum arms race, hesitation isn't just risky—it's radioactive, demanding we harden crypto's armor before the first qubit strikes.



NIST's Post-Quantum Cryptography (PQC) standardization project, launched in 2016, addresses the looming threat of quantum computers breaking widely used public-key algorithms like RSA and ECC via Shor's algorithm. By soliciting and rigorously evaluating submissions from global cryptographers, NIST has focused on developing quantum-resistant primitives for key encapsulation mechanisms (KEMs)—essential for secure key exchange over insecure channels—and digital signatures, which ensure message authenticity and integrity. These standards are critical to safeguard digital communications, from emails to financial transactions, against both classical and future quantum attacks, with experts estimating cryptographically relevant quantum computers could emerge within a decade. The process involved multiple rounds of analysis, culminating in the release of the first finalized standards in August 2024: FIPS 203 (ML-KEM, derived from CRYSTALS-KYBER for general encryption), FIPS 204 (ML-DSA, from CRYSTALS-Dilithium for signatures), and FIPS 205 (SLH-DSA, from SPHINCS+ as a hash-based alternative). These lattice- and hash-based schemes provide robust security without relying on computationally hard problems vulnerable to quantum speedup.


Cryptocurrencies depend heavily on asymmetric cryptography (public/private key pairs) and hash functions (for signatures, addresses, etc.). The security of these systems assumes that certain mathematical problems (e.g. factoring large primes, discrete logarithms) are computationally infeasible for classical computers.

 

 Quantum computers threaten that foundation

 

  Shor’s Algorithm could (when quantum hardware is powerful enough) break elliptic curve signature schemes (ECDSA), derive private keys from public keys, etc.

  Grover’s Algorithm may weaken hash functions by giving a quadratic speed-up in search, potentially making large hash spaces less secure than assumed.

 

A common danger is “Harvest-now, decrypt later”: adversaries collect or observe public keys / exposed data now, store them, then when quantum computers are capable, use them to decrypt or steal. 

 

 

Post-Quantum Cryptography (PQC)

   Use signature schemes and key-exchange algorithms that are believed to be secure against quantum attacks. For example, NIST has selected new PQC algorithms (like CRYSTALS-Kyber, CRYSTALS-Dilithium etc.) for standardization. ([Forbes][2])

 

Quantum-Resistant Blockchains / Projects

   Some blockchains are already built with quantum-safe cryptographic primitives, e.g. Quantum Resistant Ledger (QRL) that uses hash-based signatures like XMSS. 

 

 

 

 

 

 

 

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India Postpones Full-Scale Crypto Regulation, Keeps Tight Control on Stablecoin Integration 3:19 PM 11/11/2025

        India appears inclined to avoid enacting comprehensive cryptocurrency legislation, opting instead for limited regulatory oversight. ...