{"id":90297,"date":"2025-10-26T17:50:04","date_gmt":"2025-10-26T15:50:04","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=90297"},"modified":"2025-10-26T16:56:37","modified_gmt":"2025-10-26T14:56:37","slug":"week-in-review-higher-us-inflation-lifts-bitcoin-trump-pardons-cz","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/week-in-review-higher-us-inflation-lifts-bitcoin-trump-pardons-cz\/","title":{"rendered":"Week in review: higher US inflation lifts bitcoin; Trump pardons CZ"},"content":{"rendered":"<p>Digital gold rose above $113,000; Donald Trump pardoned Changpeng Zhao; miners\u2019 debt is up 500% since the start of the year\u2014and other highlights of the week.<\/p>\n<h2 class=\"wp-block-heading\">A firm market<\/h2>\n<p>On Monday the leading cryptocurrency opened at $108,000; by Tuesday it had tested $114,000.<\/p>\n<p>The cheer was short-lived, with a mild pullback through the workweek. But Friday\u2019s data showing higher US inflation bolstered investor confidence.<\/p>\n<p>In September the consumer price index <a href=\"https:\/\/forklog.com\/en\/news\/us-inflation-rises-below-forecasts-bitcoin-shows-tepid-reaction\">increased<\/a> by 0.3%, down from 0.4% a month earlier. Year on year, unadjusted, the reading rose to 3.0%.<\/p>\n<p>Traders put the odds of the <span data-descr=\"US Federal Reserve System\" class=\"old_tooltip\">Fed<\/span> lowering the target range for the key rate to 3.75\u20134% at its 29 October meeting at 98.3%.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"675\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-e9d429de3dbc5ee0-7881977231794972-1024x675.png\" alt=\"image\" class=\"wp-image-268226\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-e9d429de3dbc5ee0-7881977231794972-1024x675.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-e9d429de3dbc5ee0-7881977231794972-300x198.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-e9d429de3dbc5ee0-7881977231794972-768x506.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-e9d429de3dbc5ee0-7881977231794972.png 1030w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/www.cmegroup.com\/markets\/interest-rates\/cme-fedwatch-tool.html\">CME FedWatch Tool<\/a>.<\/figcaption><\/figure>\n<p>By Sunday evening bitcoin was back above $113,000. The asset added 5.5% over the week, with market capitalisation reaching $2.26 trillion.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"488\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-8cdc7bdcdb1ae4d2-7882010178285966-1024x488.png\" alt=\"image\" class=\"wp-image-268227\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-8cdc7bdcdb1ae4d2-7882010178285966-1024x488.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-8cdc7bdcdb1ae4d2-7882010178285966-300x143.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-8cdc7bdcdb1ae4d2-7882010178285966-768x366.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-8cdc7bdcdb1ae4d2-7882010178285966-1536x732.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/img-8cdc7bdcdb1ae4d2-7882010178285966.png 1835w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">4-hour chart of BTC\/USDT on Binance. Source: <a href=\"https:\/\/www.tradingview.com\/chart\/XQSQJA42\/?symbol=BINANCE%3ABTCUSDT\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>The broader crypto market followed suit. Ethereum hovered around $4,000, and BNB around $1,100.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"645\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-a5818d560022b5a1-7882014491107195-1024x645.png\" alt=\"image\" class=\"wp-image-268228\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-a5818d560022b5a1-7882014491107195-1024x645.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-a5818d560022b5a1-7882014491107195-300x189.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-a5818d560022b5a1-7882014491107195-768x484.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-a5818d560022b5a1-7882014491107195.png 1160w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/www.coingecko.com\/\">CoinGecko<\/a>. <\/figcaption><\/figure>\n<p>Among the top ten by market value, XRP stood out, adding 11% over seven days.<\/p>\n<p>Total crypto market value reached $3.92 trillion. Bitcoin\u2019s dominance is 55.7%, Ethereum\u2019s 12.4%.<\/p>\n<p><a href=\"https:\/\/forklog.com\/en\/news\/what-is-cryptos-fear-and-greed-index\">Crypto Fear and Greed Index<\/a> stands at 40, up from 29 last week.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-c74e2f5e6ce22aa9-7882019972838858.webp\" alt=\"image\" class=\"wp-image-268229\"\/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\">alternative.me<\/a>. <\/figcaption><\/figure>\n<h2 class=\"wp-block-heading\">CZ\u2019s pardon<\/h2>\n<p>On 22 October US President Donald Trump <a href=\"https:\/\/forklog.com\/en\/news\/donald-trump-pardons-binance-founder\">signed<\/a> an order pardoning Binance founder Changpeng Zhao (CZ).<\/p>\n<p>Answering reporters\u2019 questions, Mr Trump also noted that many had supported CZ and had long urged that the charges be dropped.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">word <a href=\"https:\/\/t.co\/JuVpuy8P0H\">https:\/\/t.co\/JuVpuy8P0H<\/a><\/p>\n<p>\u2014 CZ \ud83d\udd36 BNB (@cz_binance) <a href=\"https:\/\/twitter.com\/cz_binance\/status\/1981554054854824259?ref_src=twsrc%5Etfw\">October 24, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cPresident Trump exercised his constitutional authority, pardoning Mr. Zhao, who was prosecuted by the [Joe] Biden administration as part of their war on cryptocurrencies,\u201d said White House press secretary Karoline Leavitt.<\/p>\n<\/blockquote>\n<p>CZ himself thanked the president and pledged to support the United States in developing the crypto industry.<\/p>\n<p>Most of the community welcomed the news, though there were dissenters. Representatives of the US Democratic Party <a href=\"https:\/\/forklog.com\/en\/news\/changpeng-zhao-counters-bitcoin-critic-peter-schiff\">criticised<\/a> the decision, and Congresswoman Maxine Waters accused Mr Trump of corruption.<\/p>\n<p>Senator Elizabeth Warren joined in. She stressed that CZ was pardoned for lobbying the president\u2019s crypto projects.<\/p>\n<p>The entrepreneur pushed back, noting that Warren \u201ccannot get the facts straight when making a public statement about the charges brought against a person\u201d.<\/p>\n<p>Zhao <a href=\"https:\/\/forklog.com\/en\/news\/binance-founder-released-ahead-of-schedule\">was released<\/a> from prison in 2024 after serving a four-month sentence. Under an agreement with the Justice Department he <a href=\"https:\/\/forklog.com\/en\/news\/changpeng-zhao-to-pay-50-million-under-u-s-doj-settlement\">agreed<\/a> to pay a $50 million fine and step down as Binance\u2019s CEO.<\/p>\n<p>The exchange <a href=\"https:\/\/forklog.com\/en\/news\/binance-permanently-removes-changpeng-zhao-from-management\">permanently barred<\/a> CZ from management, but current CEO Richard Teng noted that Zhao remains the platform\u2019s largest shareholder. Now, however, journalists have <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-10-24\/binance-s-cz-prepares-for-second-act-as-trump-wipes-slate-clean\">raised<\/a> the prospect of the founder returning to the company\u2019s leadership and reviving its American arm.<\/p>\n<h2 class=\"wp-block-heading\">What to discuss with friends?<\/h2>\n<ul class=\"wp-block-list\">\n<li>A solo miner <a href=\"https:\/\/forklog.com\/en\/news\/solo-miner-strikes-bitcoin-block-earns-347455\">mined<\/a> a bitcoin block and earned $347,455.<\/li>\n<li>Gamers, <a href=\"https:\/\/forklog.com\/en\/news\/world-and-eightco-take-aim-at-gamers\">get ready<\/a>: World and Eightco have set their sights on you.<\/li>\n<li>DeFi Llama reinstated Aster but called its data a \u201cblack box\u201d.<\/li>\n<li>Coinbase <a href=\"https:\/\/forklog.com\/en\/news\/coinbase-invests-25-million-in-uponly-podcast-revival\">spent<\/a> $25 million to relaunch the UpOnly podcast.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\">An AI browser<\/h2>\n<p>Another headline of the week was the <a href=\"https:\/\/forklog.com\/en\/news\/openai-launches-ai-powered-browser-atlas\">launch<\/a> of OpenAI\u2019s Atlas AI browser. The product includes a built-in ChatGPT chatbot and virtual assistants.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-c6b3073b592cd4d1-7882027040692294.webp\" alt=\"image\" class=\"wp-image-268230\"\/><figcaption class=\"wp-element-caption\">Source: chatgpt.com.<\/figcaption><\/figure>\n<p>The app is already available for download but for now supports only macOS.<\/p>\n<p>Atlas is built on the Chromium stack, allowing imports from Chrome or Safari of history, bookmarks, saved passwords and even open tabs.<\/p>\n<p>Its signature feature is an \u201cAsk ChatGPT\u201d button. It lets users query the AI about the contents of the active tab.<\/p>\n<p>An Atlas memory function remembers which sites and topics a user has viewed.<\/p>\n<p>The tool can also switch to assistant mode to perform tasks autonomously. For example, the AI can book a hotel or place an order in an online shop.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-146e0d3373acc583-7882034613564791.webp\" alt=\"image\" class=\"wp-image-268231\"\/><figcaption class=\"wp-element-caption\">Source: chatgpt.com.<\/figcaption><\/figure>\n<p>In a separate article ForkLog <a href=\"https:\/\/forklog.com\/en\/news\/smart-but-power-hungry\">tested<\/a> Atlas and reviewed early feedback.<\/p>\n<h2 class=\"wp-block-heading\">Miners\u2019 debts<\/h2>\n<p>In September the profitability of mining the leading cryptocurrency <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-mining-profitability-declines-by-7\">fell<\/a> by more than 7%. Daily revenue per 1 EH\/s of hashrate slid from $56,000 to $52,000.<\/p>\n<p>Jefferies analysts cited a 2% monthly dip in bitcoin\u2019s price and roughly a 9% increase in network computing power among the main drivers.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-5ecb24b9441138a2-7882041028252555.webp\" alt=\"image\" class=\"wp-image-268232\"\/><figcaption class=\"wp-element-caption\">Source: Hashrate Index.<\/figcaption><\/figure>\n<p>Following the broad market correction on 11 October, hashprice has held below $49 per PH\/s per day.<\/p>\n<p>Despite lower mining margins, miners\u2019 shares are surging. By mid-October the market capitalisation of the 15 largest US industry players reached $90 billion. Since 15 September Bitfarms has risen 162%, Canaan 149% and CleanSpark 125%.<\/p>\n<p>At the same time, VanEck experts <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-miners-debt-surges-500-amid-hashrate-competition\">recorded<\/a> a 500% year-on-year jump in bitcoin miners\u2019 debt\u2014from $2.1 billion to $12.7 billion\u2014owing to investment needs for mining equipment and fulfilling AI-related orders.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-17f5df2f8cfbcb48-7882048313686242.webp\" alt=\"image\" class=\"wp-image-268233\"\/><figcaption class=\"wp-element-caption\">Bitcoin miners\u2019 debt load. Source: VanEck. <\/figcaption><\/figure>\n<p>Even so, the firm argues that miners\u2019 expansion into AI does not threaten the security of bitcoin\u2019s blockchain. In its view, \u201cpriority consumption of electricity for artificial intelligence ultimately benefits bitcoin\u201d.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cMining digital gold remains a straightforward way to rapidly monetise surplus electricity in remote or developing markets, effectively subsidising the development of data centres initially designed to be convertible for AI and <span data-descr=\"high-performance computing\" class=\"old_tooltip\">HPC<\/span> needs,\u201d they added.<\/p>\n<\/blockquote>\n<p><strong>Also on ForkLog:<\/strong><\/p>\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-and-discord-implications-of-recognising-cryptocurrency-as-marital-property-in-russia\">Bitcoin of discord<\/a>: the consequences of recognising cryptocurrency as marital property for Russians.<\/li>\n<li>Researchers <a href=\"https:\/\/forklog.com\/en\/news\/sora-2s-propensity-for-deepfake-creation-uncovered-by-researchers\">identified<\/a> Sora 2\u2019s tendency to create deepfakes.<\/li>\n<li>The Bitwise CIO <a href=\"https:\/\/forklog.com\/en\/news\/bitwise-cio-explains-bitcoins-lag-behind-gold\">explained<\/a> bitcoin\u2019s underperformance versus gold.<\/li>\n<li>In less than a month, trading volume on perp-DEX exceeded $1 trillion.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\">Millions of USDT users<\/h2>\n<p>Tether <a href=\"https:\/\/forklog.com\/en\/news\/usdts-user-base-tops-500m\">reported<\/a> a milestone: the number of USDT users has surpassed 500 million.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-273ee30abf2bbaf1-7882056998833399.webp\" alt=\"image\" class=\"wp-image-268234\"\/><figcaption class=\"wp-element-caption\">Source: X\/paoloardoino. <\/figcaption><\/figure>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cProgrammable money is the highest form of social network. A peer-to-peer ecosystem that transmits both information and value at the same time,\u201d added the issuer\u2019s CEO, Paolo Ardoino. <\/p>\n<\/blockquote>\n<p>USDT\u2019s market capitalisation now exceeds $182 billion, giving it roughly 59% of the market. Its nearest rival\u2014Circle\u2019s USDC\u2014stands at around $76 billion.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-e7112be7ee9e0a6e-7882062392168422.webp\" alt=\"image\" class=\"wp-image-268235\"\/><figcaption class=\"wp-element-caption\">Source: DeFi Llama. <\/figcaption><\/figure>\n<p>Amid a growing user base, Tether continues its global expansion. The firm <a href=\"https:\/\/forklog.com\/en\/news\/tether-introduces-us-regulated-stablecoin\">plans<\/a> to enter the US market with a new stablecoin that meets local requirements.<\/p>\n<p>Meanwhile, from January to September, the volume of global retail transactions with digital assets <a href=\"https:\/\/forklog.com\/en\/news\/retail-crypto-transactions-up-125-since-january\">increased<\/a> by 125%, according to TRM Labs.<\/p>\n<p>Stablecoins continue to play the leading role in global crypto adoption, accounting for 30% of digital-asset transaction volume.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-286b8c81964987d0-7882068718661352.webp\" alt=\"image\" class=\"wp-image-268236\"\/><figcaption class=\"wp-element-caption\">The share of USDT and USDC versus other stablecoins by market capitalisation. Source: TRM Labs. <\/figcaption><\/figure>\n<h2 class=\"wp-block-heading\">What else to read?<\/h2>\n<p>ForkLog <a href=\"https:\/\/forklog.com\/en\/news\/id-please-the-global-roll-out-of-digital-identity\">examined<\/a> the key digital-ID initiatives launched recently by governments around the world.<\/p>\n<p>How the auto-deleveraging mechanism <a href=\"https:\/\/forklog.com\/en\/news\/whales-adl-and-the-end-of-the-bull-what-really-happened-on-cryptos-black-saturday-2\">works<\/a>, why it should be taken seriously, and what analysts say about the prospects for a renewed rally.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Digital gold rose above $113,000; Donald Trump pardoned Changpeng Zhao; miners\u2019 debt jumped 500% year to date\u2014and more from the week.<\/p>\n","protected":false},"author":1,"featured_media":90298,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Bitcoin tops $113,000; Trump pardons CZ; miners\u2019 debt up 500%.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1244],"class_list":["post-90297","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-weekly-summary"],"aioseo_notices":[],"amp_enabled":true,"views":"126","promo_type":"1","layout_type":"1","short_excerpt":"Bitcoin tops $113,000; Trump pardons CZ; miners\u2019 debt up 500%.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90297","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=90297"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90297\/revisions"}],"predecessor-version":[{"id":90299,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90297\/revisions\/90299"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/90298"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=90297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=90297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=90297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}