[Comparative Weekend Review] 21Shares submitted an XRP spot ETF application to the US SEC to begin the review period; J.P. Morgan took a stake in Bitmine, the leading Ethereum reserve company, with a market value of US$102 million; the US CFTC may allow the use of stablecoins as tokenized collateral in the derivatives market

Comparative review of the weekend's key news:

[21Shares submits Form 8 (A) to the US SEC for the proposed XRP spot ETF]

Comparing news, Bloomberg ETF analyst Eric Balchunas posted on social platforms that 21Shares submitted a new Form 8 (a) to the US SEC to issue its XRP spot ETF. The application is subject to a 20-day review period.

[J.P. Morgan takes a stake in Bitmine, the leading Ethereum reserve company, with a market value of 102 million US dollars]

Comparative news, according to Jin10's report, J.P. Morgan Chase's 13F-HR position documents submitted to the US Securities and Exchange on November 7 show that as of September 30, the bank held 1,974,144 shares of Bitmine Immersion Technologies, the world's largest Ethereum reserve company, with a market value of 102 million US dollars.

Bitmine, originally a Bitcoin miner, was transformed into an Ethereum reserve company in 2025. Currently, it holds more than 3.24 million Ethereum, ranking first in the world in terms of scale.

[US CFTC may allow the use of stablecoins as tokenized collateral in the derivatives market]

Comparative news, according to CoinDesk reports, according to people familiar with the matter, the US Commodity Futures Trading Commission (CFTC) is formulating a tokenized collateral policy, which is expected to be introduced early next year.

The policy may allow the use of stablecoins as acceptable tokenized collateral in the derivatives market. It may first be piloted by US clearing houses and implement stricter regulations, requiring disclosure of more information, such as position size, large traders and trading volume, and more detailed reporting of operational events.

[Zhao Changpeng: No personal relationships with Trump, no business dealings with WLFI]

Comparing news, Zhao Changpeng said in an interview with Fox News today that there was “a slight accident; you never know if (amnesty) will happen or when” with regard to the amnesty. I've never met or talked to Trump. Zhao Changpeng said he would love to meet Trump, which would be a great honor.

Additionally, Zhao Changpeng also said that he had met Eric Trump once at the Bitcoin conference in Abu Dhabi. The report “through a deal with WLFI in exchange for an amnesty” was untrue news, and there was no transaction or discussion. There have never been any negotiations. I have no business relationship with WLFI.

[OpenAI was revealed to be requesting a loan guarantee from the White House, which contradicts the CEO's public statement]

Comparatively, according to Decrypt, an 11-page letter submitted by OpenAI to the White House Office of Science and Technology Policy on October 27 was made public. The letter clearly requested the government to provide loan guarantees and direct funding to support AI infrastructure construction.

However, just 10 days later, CEO Sam Altman publicly stated on social media that “OpenAI doesn't need and doesn't want government guarantees” and emphasized that “taxpayers should not pay for the company's wrong business decisions.”

Earlier, OpenAI Chief Financial Officer Sarah Friar mentioned in the Wall Street Journal event that federal “guarantees” can reduce AI infrastructure financing costs, and then quickly withdrew her remarks due to controversy. This incident once again raised questions about Altman's transparency, and is reminiscent of his past brief dismissal in November 2023 for “inconsistent honesty.”

[Su Binghai, who missed the internet in the biggest money laundering case in Singapore, had assets of about 260 million yuan confiscated in the UK]

Comparatively, according to a Caixin report, Su Binghai, the biggest laid-off person in Singapore's money laundering case, was confiscated about 260 million yuan of assets in the UK, including 9 London apartments (about 140 million yuan) and dinosaur fossils (about 116 million yuan).

The case involved S$3 billion (approximately RMB 16 billion). Previously, another suspect, Wang Shuiming, had been arrested in Montenegro, and partner So Weiyi was accused of being the mastermind behind the Hong Kong crypto platform Atom Asset Exchange scam.

[Coinbase official publication suggests Launchpad platform may be launched]

Compared to Twitter, Coinbase officially posted a video on the X platform with the caption: “It doesn't have to be that way.”

According to video content and comments section information, it may be suggested that its Launchpad platform will be launched on November 10.

[The US Treasury Department provides tax relief to private equity, cryptocurrency, and other companies without legislation]

Comparatively, according to Jin Shi, quoting the “New York Times”, the US Treasury Department passed proposed regulations to provide tax relief to private equity firms, cryptocurrency companies, foreign real estate investors, and other large companies.

For example, in October of this year, the US Internal Revenue Service (IRS) released new proposed regulations that would provide benefits to foreign investors who invest in US real estate. In August of this year, the US Internal Revenue Service (IRS) proposed easing rules to prevent multinational companies from evading taxes by filing duplicate losses in multiple countries. The announcements have yet to make headlines, but they have been taken notice by accounting and consulting firms.

Kyle Pomerleau, a senior researcher at the American Enterprise Research Institute, a think tank, said, “The US Treasury has apparently been implementing unlegislated tax cuts. Congress decides on tax laws. The Ministry of Finance asserts greater powers than those granted by Congress in the tax law structure, undermining this constitutional principle.”

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