Standard Chartered sees major RWA growth on Ethereum, CZ challenges Sen. Warren, and more

The next article is customized from The Block’s publication, The Every day, which comes out on weekday afternoons.

Glad Halloween, on this Friday, Oct. 31!

Bitcoin rebounded close to $110,000 after a thaw in U.S.–China relations, regardless of persevering with ETF outflows.

In as we speak’s publication, Standard Chartered says tokenized RWAs can attain $2 trillion by 2028, Ex-Binance CEO Changpeng Zhao’s lawyer calls for an “rapid retraction” from Sen. Warren of earlier claims, Ether.fi DAO proposes a $50 million token buyback plan, and more.

In the meantime, Coinbase and Technique posted Q3 earnings on Thursday — analysts stay bullish on each firms.

Let’s get began!

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Standard Chartered sees tokenized real-world belongings reaching $2 trillion by 2028 — ‘overwhelming majority’ on Ethereum

Standard Chartered predicts the market cap for onchain real-world belongings might improve roughly 5,600% by 2028 to $2 trillion, up from about $35 billion as we speak, in accordance with an analyst notice. Furthermore, nearly all of these belongings will probably be tokenized on Ethereum.
Geoffrey Kendrick, Standard Chartered’s head of digital belongings analysis, stated tokenized cash market funds and listed equities alone might every develop to $750 billion markets, with onchain non-public fairness, commodities, and company debt additionally rising in measurement.
“Stablecoins have created a number of obligatory pre-conditions for a broader enlargement of DeFi through the three pillars of elevated public consciousness, onchain liquidity, and onchain lending/borrowing exercise in fiat-pegged product,” Kendrick stated.
The primary danger, Kendrick cautioned, could be if regulatory readability within the U.S. fails to materialize — a chance if the administration can’t push via modifications earlier than the November 2026 midterm elections — “however not our base case.”
Whereas different chains may also doubtless see growth, Kendrick predicts most real-world belongings will discover a residence on Ethereum as a result of community’s historic reliability and community results.

Ex-Binance CEO Changpeng Zhao’s lawyer calls for ‘rapid retraction’ from Sen. Warren over post-pardon remarks

The lawyer for Changpeng Zhao is demanding that Sen. Elizabeth Warren retract “defamatory statements” she made concerning the former Binance CEO following his pardon by President Donald Trump.
Final week, Warren criticized the president’s transfer, saying on X that Zhao pleaded responsible to a legal cash laundering cost, and circulated a decision urging Congress to dam “this blatant corruption.”
Zhao’s lawyer, Teresa Goody Guillén, despatched a letter to the highest Democrat on the Senate Banking Committee this week, requesting an apology over her statements associated to CZ’s 2023 responsible plea for failing to take care of sufficient money-laundering controls and subsequent pardon.
Earlier this week, Fox News’ Charles Gasparino reported that Zhao is weighing whether or not to convey a libel go well with towards Warren.
Though Zhao has denied lobbying the Trump administration for a pardon, ties between the Trump-backed DeFi undertaking World Liberty Monetary and Binance have raised questions amongst a number of observers.

Canaan’s Japan deal marks first state-linked bitcoin mining undertaking within the nation

Canaan is reportedly supplying bitcoin mining rigs to a major Japanese utility for a grid-stability analysis undertaking, marking the nation’s first publicly disclosed state-linked mining initiative.
Whereas Canaan didn’t establish the companion, the transfer follows earlier studies {that a} subsidiary of Japan’s largest utility, Tokyo Electrical Energy Firm (TEPCO), had studied utilizing surplus power generated by photo voltaic and wind to mine bitcoin.
Canaan stated in its Thursday launch that its hydro-cooled Avalon A1566HA servers will probably be used to “stabilize regional power-grid load via managed overclocking and underclocking,” dynamically adjusting hashrate and voltage to stability power use in actual time.

Ether.fi DAO proposes $50 million ETHFI buyback as DeFi’s repurchase wave tops $1.4 billion

Ether.fi DAO has launched a proposal to allocate as much as $50 million from its treasury on token buybacks, which, if accredited, would allow the Ether.fi Basis to execute open-market purchases of ETHFI if the token dips under $3.
With ETHFI down over 89% from its 2024 excessive to commerce round $0.93 on Oct. 31, this system would activate instantly upon approval.
Ether.fi is just not the primary to execute token buybacks, which have reached $1.4 billion alone this 12 months, led by initiatives comparable to Hyperliquid and Pump.enjoyable, Aave, and Uniswap.

Ethereum devs formally goal Dec. 3 for Fusaka improve

In an All Core Devs name on Thursday, Ethereum researchers formally chosen Dec. 3 because the date to push out the mainnet activation of the much-anticipated Fusaka improve.
Fusaka went reside on the Hoodi testnet on Tuesday in its ultimate step in the direction of mainnet activation following profitable deployments on the Holesky and Sepolia testnets earlier this month.
The backward-compatible Fusaka arduous fork will implement a couple of dozen Ethereum Enchancment Proposals to enhance the sustainability, safety, and scalability of the basechain and surrounding Layer 2 ecosystem, together with the introduction of the PeerDAS streamlined knowledge sampling approach.

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