The crypto world is facing more pressure from politics, global finance, and new technology moves. Big stories include a projected $2 trillion growth in tokenized assets, a controversial stablecoin listing after a high-profile pardon, a stablecoin project across Africa, and crypto becoming a factor in New York’s mayoral race.
Standard Chartered Predicts Strong Growth for Tokenized Assets
Standard Chartered expects tokenized real-world assets to grow to $2 trillion by 2028. The bank released a report saying digital assets are starting to take a larger share of global finance. Current figures place tokenized assets at around $35 billion.
The forecast breaks down the projected growth: $750 billion in tokenized stocks, $750 billion in money-market funds, and $500 billion split between tokenized real estate, private equity, and funds. The bank says the expansion will depend on growth in DeFi and stablecoin adoption.
The report says investors are looking at tokenized products because they allow faster settlement and lower costs. Blockchain is being used more often to manage and move traditional financial assets.
Lawmakers Question Trump Pardon and Binance.US Listing
Senator Chris Murphy has raised concerns about Binance.US listing a stablecoin tied to former President Donald Trump’s crypto company. The listing came just days after Trump pardoned former Binance CEO Changpeng Zhao.
Murphy said the move was “promoting Trump crypto” right after the pardon. He also pointed to earlier reports that Zhao applied for a pardon earlier this year. Some lawmakers think Zhao’s release may be tied to investments made through a Trump-related stablecoin called USD1.
Binance.US responded by saying its listings are made by a committee and follow a set process. It also said the token was already on other exchanges and had been under review for some time. The company added, “This was a business decision.”
Binance.US and Binance operate separately. However, they have both been pulled into the growing debate in Washington about crypto rules and political influence.
Congress Pushes for Ban on Crypto Trading by Officials
Several senators and representatives have called for new rules to prevent lawmakers and the president from trading crypto or stocks while in office. They say the pardon of Zhao could send the wrong message to other business leaders.
Representative Ro Khanna said he will introduce a bill to ban digital asset trading by top elected officials and their families. He said recent events show the need to keep politics and financial interests separate.
Seven senators also signed a letter to the Justice Department asking for a review of the pardon. They said it may weaken future cases against financial crimes in the crypto space.
Flutterwave Builds Stablecoin Payment Network in Africa
Flutterwave, a fintech company based in Nigeria, is working with Polygon Labs to launch a stablecoin-powered payment system. The platform will operate across 34 African countries and allow faster cross-border payments.
Polygon will provide the blockchain tools to help settle payments more quickly and with lower costs. Flutterwave CEO Olugbenga Agboola said the partnership could “10x the volumes we are currently doing.”
He also said the use of stablecoins will bring more money into the African market by improving how money moves between countries. The new network is still in development, but the companies expect it to roll out soon.
Cuomo Gains Support from Crypto-Backed Political Group
Former New York Governor Andrew Cuomo has received support from Innovate NY, a political group that supports crypto. The group has raised nearly $100,000 and spent $30,000 promoting Cuomo in the city’s upcoming mayoral race.
The group said Cuomo backs technology, including blockchain, tokenization, and AI. It also said Cuomo wants to create a city Innovation Council if elected. This would include advisors on crypto and tech policy.
Cuomo’s main opponent, Zohran Mamdani, has focused on housing and other social issues. He has not made crypto a part of his campaign. Voters in New York City go to the polls on November 4.
The mayoral race could shape the future of crypto in the city, as New York plays a major role in how digital assets are regulated in the U.S.
Trump and Xi Meet to Cool Trade Dispute
President Donald Trump and Chinese President Xi Jinping met in South Korea to talk about trade. The meeting focused on tariffs and reducing tensions between the two countries. Trump said,
“We’ve already agreed to a lot of things.”
Trade tensions between the U.S. and China have affected crypto prices. A recent spike in tariffs earlier this month was followed by a sharp drop in Bitcoin, which fell from over $121,000 to $103,000.
The latest talks may bring some stability. Traders are watching closely as any shift in the U.S.–China relationship could affect global markets, including crypto.
