Market report for traders
🔮 BTC, ETH, and Altcoins
Over the last 7 days, Bitcoin ends at AU$174,756 moving +3.3% at the time of writing. Meanwhile, Ethereum ends at AU$6,735 moving +3.2% week-on-week. On the Altcoin side, Solana +8.4%, Dogecoin +9.6%, and XRP +1.3% change.
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🗞 What’s happening in the news?
🏦 PayPal Expands Peer-to-Peer Crypto Transfers
PayPal is expanding its peer-to-peer services by adding crypto transfers, enabling US users to move Bitcoin, Ether, and PYUSD across PayPal, Venmo, and compatible wallets worldwide. At the same time, the company has launched “PayPal links,” a separate feature that allows users to create personalised payment links for sending or requesting money via text, chat, or email. Peer-to-peer payments have become a key growth driver, with consumer payment volume climbing 10% year-on-year in the second quarter. With both new features rolling out, PayPal is positioning itself at the centre of digital transactions as traditional finance and crypto continue to converge.
⚖️ Sam Bankman-Fried Appeal Set for November
Almost two years after receiving a 25-year sentence, Sam Bankman-Fried’s appeal has been calendared for arguments on 4 November in the US Court of Appeals for the Second Circuit. His legal team argues he was “never presumed innocent” and that prosecutors presented a “false narrative” of FTX user funds as permanently lost. He is housed at the Federal Correctional Institution at Terminal Island in California, and according to the US Bureau of Prisons, has an expected release date of 25 October 2044. Co-founder Gary Wang and others received lighter sentences, and reports indicate SBF could also seek a pardon from President Donald Trump.
🔷 Ethereum Foundation Forms New AI Payments Team
Ethereum is positioning itself as the settlement and coordination layer for what it calls the “machine economy.” The Foundation has created a dedicated “dAI Team” to enable AI agents to pay and coordinate without intermediaries and to build a decentralised AI stack. Research scientist Davide Crapis said the team will build on ERC-8004, a proposed standard for proving whether AI agents can be trusted. “Ethereum makes AI more trustworthy, and AI makes Ethereum more useful,” he explained, adding that the more intelligent agents transact, the more they need a neutral base layer for value and reputation. Some experts say that if AI agents begin transacting at scale, demand could grow for Ethereum-based settlement and reputation systems.
📖 What we’ve been reading
Bank of England stablecoin limits slammed by UK crypto groups: Report
UK crypto and payments groups urged the Bank of England to drop plans to cap individual stablecoin holdings, claiming the move would be costly and hard to enforce.
Pakistan invites global crypto firms to apply for operating licenses: Report
Pakistan has invited international crypto firms to apply for licenses under its regulatory authority PVARA, with strict criteria and global compliance standards.
Brazil Clamps Down on Illegal Rio de Janeiro Crypto Mining Operation
A Governador Island man was arrested for allegedly siphoning off-grid capacity to fuel a 24/7 illegal mining operation.
*Disclaimer: The information provided is for educational purposes and does not constitute financial product advice. You should obtain independent advice from an Australian financial services licensee before making any financial decisions.*
