**Top Stories of The Week**
**Ripple Rejects IPO Plans Despite SEC Case Victory: Here’s Why**
Ripple, the US blockchain company behind the XRP cryptocurrency, has announced it will not pursue an initial public offering (IPO) following the conclusion of its years-long legal battle with the US Securities and Exchange Commission (SEC). Ripple president Monica Long told Bloomberg on Wednesday that the company currently has no plans or timeline for an IPO.
“We’re in a fortunate position where we’ve been able to be very well capitalized and fund all of our organic growth, inorganic growth, strategic partnerships, anything we want to do,” Long said.
Ripple’s decision brings an end to years of speculation after multiple executives had hinted at a potential IPO. The company faced a $1.3 billion SEC lawsuit in late 2020, which it ultimately won.
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**Bitcoin Bull Run Hasn’t Started Yet: Jan3’s Samson Mow**
Samson Mow, CEO and founder of Bitcoin technology infrastructure company Jan3, argues that the Bitcoin bull run is yet to begin, despite Bitcoin falling to just under $100,000 earlier this week.
“The Bitcoin bull run hasn’t started yet. We’re just marginally outperforming inflation at this price range,” Mow said on Wednesday.
The Bitcoin and broader cryptocurrency market continued to slump this week, with analysts blaming trade tensions between the US and China, along with other macroeconomic factors. Tuesday saw intensified Bitcoin selling, with prices dipping to $99,607 by Wednesday, according to CoinGecko data.
Despite the downturn, Mow expressed optimism in a series of bullish posts on X, predicting significant upside for the market as Bitcoin continues to outperform the US inflation rate of 3%.
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**FBI Cannot Be Blamed for Wiping Hard Drive with $345M BTC, Say Judges**
A man convicted of identity theft who claimed that the FBI wiped a hard drive containing over 3,400 Bitcoins has lost his lawsuit against the US government.
The Eleventh Circuit Court of Appeals ruled on Tuesday that Michael Prime cannot sue over the loss of access to the Bitcoins, now valued at approximately $345 million, especially since Prime previously denied owning that amount of cryptocurrency.
Prime requested the return of the hard drive after his release from prison in July 2022, but the FBI had wiped it in line with standard procedures, which Prime challenged as illegal. However, the judges noted Prime’s prior denials regarding his Bitcoin holdings.
“For years, Prime denied that he had much bitcoin at all. And bitcoin was not on the list when he sought to recover missing assets after his release from prison,” the judges wrote. “Only later did Prime claim to be a bitcoin tycoon.”
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**The Truth Behind the Comeback of Privacy-Focused Protocol Zcash in 2025**
Privacy is trending, and Zcash has emerged as a standout winner in the crypto space. The Zcash protocol has been buzzing within the community on X, with the native token’s price reflecting this enthusiasm.
Zcash’s token price recently surpassed $500 for the first time since 2018. This surge is partly driven by support from prominent figures in the industry such as Arthur Hayes, Naval Ravikant, Mert Mumtaz, Ansem, Threadguy, and others who have championed Zcash’s privacy-first benefits for months.
Lofty price predictions paired with strong privacy endorsements have contributed to ZEC’s significant gains compared to the broader altcoin market.
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**Polymarket Rife With ‘Artificial Trading,’ Columbia University Researchers Find**
Research from Columbia University indicates that the rapid growth of the prediction market Polymarket may be largely driven by artificial trading activity.
In an 80-page paper titled “Network-Based Detection of Wash-Trading” (not yet peer-reviewed), researchers identified extensive wash trading—where traders buy and sell to themselves to inflate volume—on Polymarket starting in July 2024. During that month, wash trades accounted for nearly 60% of total trading volume.
“This activity persisted through late April 2025 before subsiding substantially, and once again increased to about 20 percent of volume in early October 2025,” the researchers reported.
Overall, they concluded that approximately 25% of Polymarket’s total trading volume in the past three years was due to artificial trading.
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### Winners and Losers
At the end of the week:
– Bitcoin (BTC) stands at $102,289
– Ether (ETH) is $3,385
– XRP is at $2.30
The total cryptocurrency market capitalization is $3.44 trillion, according to CoinMarketCap.
Among the top 100 cryptocurrencies, the biggest altcoin gainers of the week are:
– Internet Computer (ICP) up 163.79%
– ZKsync (ZK) up 144.42%
– Filecoin (FIL) up 135.77%
The biggest altcoin losers of the week are:
– Bittensor (TAO) down 20.44%
– Solana (SOL) down 13.15%
– Aerodrome Finance (AERO) down 12.52%
For more detailed crypto price insights, visit Cointelegraph’s market analysis.
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### Most Memorable Quotations
– “Given what’s happening to stablecoins, which are serving emerging markets in a way that we thought Bitcoin would, I think we could take maybe $300,000 off that bullish case, just for stablecoins.”
— Cathie Wood, CEO of ARK Investment Management
– “The Bitcoin bull run hasn’t started yet. We’re just marginally outperforming inflation at this price range.”
— Samson Mow, CEO of Jan3
– “We like alignment with the community. We are a big player in crypto. We want to keep doing it. We like that our customers are engaged in it.”
— Shiv Verma, Senior VP Finance & Strategy, Treasurer at Robinhood
– “Distributed ledger technology that facilitates asset tokenisation could fundamentally transform our capital markets, in the same way as the introduction of CHESS once did.”
— Joe Longo, Chair of the Australian Securities and Investments Commission
– “Still a great area to accumulate positions on ETH.”
— Michael van de Poppe, Founder of MN Trading Capital
– “Crypto retail is in max desperation.”
— Matt Hougan, CIO at Bitwise
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### Top Prediction of The Week
**Bitcoin Crisscrosses $100K as BTC Price ‘Bottoming Phase’ Begins**
Bitcoin threatened the $100,000 support level again on Friday as bulls hoped for a higher low. Data from Cointelegraph Markets Pro and TradingView showed BTC price dipping near $99,000 around the Wall Street open.
Despite attempts to rally from multimonth lows, BTC/USD continues to pressure bulls and late long positions. Data from CoinGlass revealed over $700 million in 24-hour crypto long liquidations at the time of reporting.
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### Top FUD of The Week
**Bitcoin at $100K Is a ‘Speed Bump’ to $56K, But Data Signals No Signs of Panic**
A traditional finance analyst predicts Bitcoin’s price could decline by nearly 50% if the current downtrend persists. Bloomberg analyst Mike McGlone stated on X that Bitcoin hitting $100,000 might be “a Speed Bump Toward $56,000.”
“My look at the chart shows how normal it’s been for the first-born crypto to revert to its 48-month moving average, now around $56,000, after similarly extended rallies as in 2025,” McGlone added.
However, on-chain analytics firm Glassnode suggests the current downtrend may not be as severe as some fear.
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### Australia Risks ‘Missed Opportunity’ by Shirking Tokenisation: Top Regulator
Australia’s capital markets face the risk of lagging behind other nations unless it adopts new technologies like tokenization, warns the country’s top market regulator.
“As other countries adapt and innovate, there’s a real risk Australia could become the ‘land of missed opportunity’ or be passive recipients of developments overseas,” Australian Securities and Investments Commission Chair Joe Longo said at the National Press Club on Wednesday.
“The choice is innovate or stagnate, to evolve or become extinct.”
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### Cathie Wood Drops BTC Forecast by $300K, Citing Stablecoins’ Market Share Erosion
Cathie Wood, CEO of ARK Investment Management, has lowered her long-term Bitcoin price prediction by $300,000 due to stablecoins cutting into Bitcoin’s role as a store of value in emerging markets.
“Stablecoins are usurping part of the role that we thought Bitcoin would play,” Wood told CNBC on Thursday, revising her previous BTC price target of $1.5 million by 2030.
“Given what’s happening to stablecoins, which are serving emerging markets in a way that we thought Bitcoin would, I think we could take maybe $300,000 off that bullish case, just for stablecoins. Stablecoins are scaling much faster than anyone expected,” she added.
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### Top Magazine Stories of The Week
**Grokipedia: ‘Far Right Talking Points’ or Much-Needed Antidote to Wikipedia?**
Elon Musk’s Grokipedia aims to reshape online truth as a more neutral and comprehensive alternative to Wikipedia. But is it achieving its goal?
**Philippines Blockchain Bill to Battle Corruption, Crypto KOLs Charged**
Hong Kong police have charged influencers promoting JPEX, while the Philippines is poised to bring an anti-corruption blockchain bill to the Senate floor.
**Why AI Sucks at Freelance Work and Real-Life Tasks: AI Eye**
AI currently struggles to complete 97% of tasks on Upwork and frequently gets news wrong, suggesting your freelance job is safe—for now.
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*For continued updates and in-depth market analysis, stay tuned to Cointelegraph.*
https://bitcoinethereumnews.com/tech/hodlers-digest-nov-2-8-cointelegraph-magazine-2/
