FameEX Morning Crypto News Recap | October 29, 2025
2025-10-29 04:03:49Trump Weighs Bessent Nomination for Federal Reserve Head
On October 28, President Trump praised Treasury Secretary Bessent for his "very excellent" job and market reassurance. Trump is considering him for Fed Chairman, but Bessent does not want to take the position.
Bitcoin October Performance Turning Positive
Coinglass data shows Bitcoin's current October return at +0.39%, turning positive but well below the 21.89% historical average. Over 12 years, only 2014 and 2018 recorded negative October returns.
BlackRock Boss Advocates Cryptocurrencies vs. Devaluation
BlackRock CEO Larry Fink says if nations devalue currencies, own crypto. Amid rising insecurity, crypto and gold act as "fear assets" to hedge inflation and fiat decline.
Crypto Company KR1 Plans LSE Float Next Month
Amid UK's crypto-friendly stance, Isle of Man firm KR1 will list on London Stock Exchange main board next month, moving from Aquis—the first such digital asset listing in years—to draw institutional capital.
French Parliament Proposes 420,000 Bitcoin Strategic Holdings
On October 28, 2025, Eric Jotti of the minority UDR party (16/577 seats) introduced a cryptocurrency bill in the French Parliament. Key proposals include building a national Bitcoin reserve of 2% of total supply (~420,000 BTC) over 7–8 years, promoting euro-denominated stablecoins, enabling €200 daily tax-free crypto payments, and rejecting the EU’s digital euro initiative. The bill faces near-zero chance of passage due to UDR’s limited parliamentary influence.
39% UAE Wealthy Hold Crypto, 63% Mull New Wealth Management Institutions
Avaloq’s latest report highlights UAE high-net-worth individuals’ strong crypto adoption, with 39% holding digital assets—well above global norms. Meanwhile, 63% have changed or plan to switch wealth management institutions, frustrated by insufficient support for cryptocurrency services.
Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.