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| Plus, Schwab enters prediction markets & a sketchy BTC forecast. |
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Your weekly roundup of the ๐ฅhottest news in crypto: |
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A Week in Review: SBF will never get a pardon, Trump peace deal boosts Bitcoin |
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#1US lawmakers warn against presidential pardon for Sam Bankman-FriedIn the first half of his second term, US President Donald Trump has pardoned several high-level crypto execs that were found guilty of crimes. But two US senators have made it clear this week that they don’t think this clemency should extend to imprisoned former FTX CEO Sam Bankman-Fried. Republican Senator Cynthia Lummis and Democratic Senator Rubรฉn Gallego introduced a resolution on Wednesday stating that “under no circumstances should Samuel Bankman-Fried receive executive clemency, including a pardon or commutation.” The Senators claim that pardoning Bankman-Fried would harm deterrence and send a message that criminals could escape accountability.
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#2Bitcoin nears $66K as Trump says US has peace deal with IranTrump signed a tentative peace deal with Iran this week that would reopen the straights of Hormuz, unfreeze billions in Iranian assets and relieve sanctions on Iranian oil. While the deal is shaky, the terms are also dependent on Israel observing a ceasefire in Lebanon, markets responded positively. Bitcoin (BTC) reached over $65,000 on Coinbase on Monday morning, according to TradingView. Andri Fauzan Adziima, research lead at Bitrue Research Institute, told Cointelegraph the deal “removes a major geopolitical risk premium, triggering a clear risk-on move as uncertainty fades.”
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#3
Charles Schwab to enter prediction markets with S&P 500 wagers: WSJFinancial services firm Charles Schwab is reportedly entering the prediction market business. According to the Wall Street Journal, the company will launch options contracts that allow yes-or-no wagers on the performance the S&P 500 stock market index Compared to other betting markets like Kalshi or Polymarket, this is fairly limited. The latter offer bets on anything from hyper-specific sport outcomes to the resolution of geopolitical crises. Charles Schwab’s offering will reportedly only include yes-or-no bets on whether the S&P 500 closes above or below a target price. Prediction markets are currently under heavy legal scrutiny in the United States. Many individual states have banned them or issued cease-and-desist letters, claiming that their operations flout state gambling laws. The US Commodity Futures Trading Commission maintains that it alone is responsible for regulating betting markets. The federal government has even sued some states that have attempted to regulate prediction markets.
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Prediction of the week
Bitcoin to $145K by October? Why this ‘crazy accurate’ 4chan prediction is sketchyA viral post on 4chan which appears to have called several previous Bitcoin price benchmarks from 2019 to 2024, has received renewed attention. Namely this is because it’s calling a $145,000 BTC price by October this year. Crypto account Corleone wrote “The guy who posted this does not miss.” Some find it doubtful, however. As Cointelegraph reported, the provenance of the image itself is not verifiable. The screenshot does not show a verifiable archive link, tripcode, or any identity marker tying the prediction to a repeatable 4chan user. It’s claims regarding market capitalization are also wrong and the claim that a certain party holds 90% of the Bitcoin supply lacks proof.
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FUD of the week
Crypto kidnappers who robbed a Minnesota family of $8M plead guiltyTwo brothers who kidnapped a family in the US state of Minnesota to steal $8 million worth of crypto, have pleaded guilty to armed robbery. Isiah Angelo Garcia and Raymond Christian Garcia face a maximum sentence of 20 years in Federal Prison according to the state’s District Attorney. According to prosecutors, on Sept. 19, 2025, the two men traveled from Texas to Minnesota where they held an individual and his family at gunpoint. The victim’s wife and son were held in their home for nine hours, while the man was taken to his cabin, where he was induced to transfer $8 million. So-called “wrench attacks” on high-profile crypto investors and executives have been on the rise, creating security concerns.
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FUD of the week
Ethereum faces core development funding crisis, former contributor warnsFormer Ethereum Foundation contributor Trenton Van Epps has warned that the Ethereum ecosystem is facing a crisis. He wrote in a blog post that Ethereum has a core development funding crisis which will require new funding sources in the next three to nine months. Epps said that the Ethereum Foundation’s spending reductions, along with the expiration of the Client Incentive Program in April has left a $30 million gap in annual funding for the network’s core development. As a result, Ethereum risks entering a “slow-burning funding crisis.” |
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