In this week’s edition of the weekly recap, several significant developments unfolded across the cryptocurrency and blockchain sectors. Strategy ventured into foreign markets with a $715 million offering, Japan’s three largest banks received regulatory approval for joint stablecoin experimentation, and Kazakhstan announced plans to establish a national cryptocurrency reserve. Meanwhile, Ripple secured $500 million in funding at a $40 billion valuation amid ongoing legal proceedings and major investments.
**Strategy Ventures into International Capital Markets**
Bitcoin treasury company Strategy announced on Friday its plans to raise $715 million through its first foreign market offering. The proceeds are intended to cover operational expenses, including additional Bitcoin purchases. The company also reported acquiring $45.6 million worth of Bitcoin last week, bringing its total holdings to an impressive 641,205 BTC.
**Japanese Banking Giants Receive Stablecoin Pilot Approval**
Japan’s financial services regulator authorized a proof-of-concept trial involving the country’s three largest banks: MUFG Bank, Sumitomo Mitsui Banking Corporation, and Mizuho Bank. The pilot program will focus on jointly issuing a stablecoin and aim to verify whether “regulatory and practical compliance” can be legally and appropriately maintained when multiple banking institutions collaborate on stablecoin issuance.
**Kazakhstan Establishes National Crypto Reserve**
Kazakhstan is moving forward with plans to create a national cryptocurrency reserve fund valued between $500 million and $1 billion. The fund is expected to launch by early 2026 and will be initially capitalized through seized or repatriated assets, alongside proceeds from state-backed cryptocurrency mining operations, as reported by Bloomberg.
**Tether Purchases Bitcoin During Market Downturn**
The world’s largest stablecoin issuer, Tether, acquired Bitcoin amid recent price declines. Data from Arkham Analytics reveals that a wallet associated with Tether deposited, purchased, and withdrew a total of 961 BTC, worth approximately $97.18 million, from the crypto exchange Bitfinex.
**Samourai Wallet Developer Sentenced to Prison**
Keonne Rodriguez, developer of the privacy-focused Samourai Wallet, was sentenced on Thursday to five years in prison after pleading guilty to conspiracy to operate an unlicensed money transmitter. In addition to the prison term, Rodriguez faces a $250,000 fine and must surrender by December 19, according to courtroom reporter Matthew Russell Lee.
**Irish Regulators Fine Coinbase €21.5 Million**
The Central Bank of Ireland imposed a penalty of €21,464,734 (approximately $24.7 million) on Coinbase Europe Limited for breaches in anti-money laundering (AML) and counter-terrorist financing transaction monitoring obligations. The violations took place between April 2021 and March 2025.
**International Operation Dismantles Crypto Laundering Network**
Law enforcement agencies across Cyprus, Spain, and Germany arrested nine individuals linked to a cryptocurrency money laundering network responsible for defrauding victims of approximately $689 million (€600 million). The operation was coordinated by Eurojust and also involved authorities from France and Belgium, with arrests taking place on October 27 and 29.
**Ripple Secures $500 Million at $40 Billion Valuation**
Ripple announced on Wednesday a strategic investment round totaling $500 million, led by funds managed by affiliates of Citadel Securities, Fortress Investment Group, and Brevan Howard. This funding round established a $40 billion valuation for Ripple.
**Gemini Explores Entry into Prediction Market**
The Winklevoss twins’ cryptocurrency exchange, Gemini, is reportedly planning to launch prediction market contracts. Citing anonymous sources, reports indicate that Gemini is working to introduce these products as soon as possible, expanding its range of crypto offerings.
**Animoca Brands Pursues Nasdaq Listing**
Hong Kong-based blockchain developer and investor Animoca Brands is moving toward a Nasdaq listing through a reverse merger with Singapore fintech company Currenc. This strategic move is aimed at enhancing Animoca Brands’ presence in global financial markets.
**Bankman-Fried Appeal Hearing Proceeds**
Former FTX CEO Sam Bankman-Fried, currently jailed, returned to court as he seeks a new trial following his 2022 conviction on multiple fraud charges. Bankman-Fried filed an appeal in September 2024, criticizing Judge Lewis Kaplan’s handling of the case and arguing that certain evidence should have been permitted. The U.S. Court of Appeals for the Second Circuit heard arguments on Tuesday to determine the next steps in this high-profile appeal.
**Balancer Suffers Major Security Breach**
Decentralized finance platform Balancer experienced a severe security exploit early Monday, resulting in an estimated $128 million worth of digital assets stolen across multiple blockchains. Security firms Cyvers and PeckShield approximated the total losses at around $128 million, while analytics company Nansen reported a figure closer to $100 million.
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These developments highlight ongoing innovation, regulatory progress, significant funding rounds, and evolving challenges within the cryptocurrency ecosystem. Stay tuned for more updates in next week’s recap.
https://crypto.news/strategy-raises-715m-internationally-japan-approves-bank-stablecoin-pilot-kazakhstan-plans-crypto-reserve-weekly-recap/
