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Faruk Fatih Özer, CEO of the collapsed Turkish cryptocurrency exchange Thodex, was found dead in prison on Saturday, his lawyer confirmed to DL News.
“Faruk’s passing has deeply shaken us all,” Özer’s lawyer Sevgi Erarslan told DL News.
Özer was sentenced last year to 11,196 years in prison on charges including “founding and leading a criminal organisation,” “aggravated fraud,” and “money laundering.”
His crypto exchange Thodex abruptly shut down in April 2021 after halting withdrawals and locking users out of their accounts. It first cited complications due to outside investment, and later cyberattacks. Estimates of losses vary widely, ranging from $24 million in the final Turkish indictment to as much as $2.2 billion in earlier estimates by security firms.
Mertcan Bayraktar, a lawyer who represents seven victims, including one who had three Bitcoin — worth about $330,000 in today’s price —, told DL News that Özer’s death in prison “raises serious questions about both public confidence in the justice system and the conscience of society.”
Bayraktar previously told DL News that the case is especially sensitive since Özer’s business partner is the son of a Member of Turkish Parliament. That gave the debacle an uncomfortable political twist.
“The case involves multiple defendants, so proceedings will continue against the others,” Bayraktar said. “Meanwhile, compensation, debt recovery, and asset-seizure processes to recover victims’ losses are still underway.” Özer was convicted last year alongside his siblings.
Founded in 2017, Thodex had capitalised on Turkey’s inflation-driven appetite for cryptocurrency investment and trading, drawing in retail investors seeking refuge from a weakening lira.
Özer fled the country shortly before Thodex went offline and was captured in Albania in 2022 after months on the run. His extradition and subsequent conviction were seen as a landmark case for Turkey’s attempts to impose order on its lightly regulated cryptocurrency sector.
Özer’s Erarslan lawyer previously told DL News that “Özer did not simply let the company go bankrupt and move on with his life.”
Instead, she explained, he had solicited investors to bridge the gap in its reserves because the exchange “was experiencing numerous security threats and attacks on its servers, which led to a significant deficit in its cash reserves.”
His death is likely to renew scrutiny of prison conditions in Turkey and raise questions about the country’s efforts to regulate cryptocurrencies.
“At this point, the issue is not merely about one man’s death,” Bayraktar said. “It is about protecting the right to life of a person under state custody and maintaining public confidence in the justice system.”
“When authorities fail to provide full transparency, public doubts can persist for years. It is not enough for justice to be served — people must also be able to see and believe that it has been served.”
In a Telegram group chat of Turkish Thodex victims seen by DL News, conspiracy theories quickly filled the discussion.
“In Turkey, there’s nothing easier than kidnapping someone — especially since this guy had photos with a former minister,” one member wrote.
Another speculated that Özer might still be alive: “He could have been kidnapped and had his face altered with cosmetic surgery. There’s a lot of money at stake.”
But not everyone shared the suspicion. “He ended up destroying both himself and everyone else,” one participant said. “In the end, he lost everything too.”

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by JEFF BARKER | BALTIMORE SUN
MARYLAND (WBFF) — Coinbase, the global cryptocurrency powerhouse, has launched a lobbying campaign to counter an order by Maryland Attorney General Anthony Brown restricting a rewards program that Brown says violates securities law.
Coinbase, which says it operates in more than 100 countries and holds $425 billion in assets, has met with dozens of Maryland state lawmakers as it seeks sponsors for legislation that would codify the program, company officials said.
The measure being sought would effectively undo a 2023 “cease and desist” order by the attorney general’s securities division.
In the order, the state barred Coinbase from offering a procedure known as “staking” that can yield investors returns. In staking, digital asset holders may receive passive income, somewhat like interest or dividends. Customers temporarily freeze some of their assets that Coinbase uses to validate transactions, and then become eligible for rewards for essentially helping police the system.
Read the full story on The Baltimore Sun.
2025 Sinclair, Inc.

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In a season full of adversity, SMU restores hope with ‘culture win’ over No. 10 Miami  Dallas News
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WOLCOTT, N.Y. — A 67-year-old man from Wolcott has been arrested after a New York State Police investigation into lottery theft.
On Sept. 27, state police say David Miller was working at the Wolcott Elks Lodge when he generated $9,498 worth of New York State Quick Draw lottery tickets over several hours using the bar’s electronic terminal, and didn’t pay.
State police say while the tickets resulted in about $4,164 in winnings, the remaining $5,334 wasn’t paid. As a result, Miller was arrested and charged Friday with grand larceny.

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Bitcoin’s Seasonality: ‘Uptober’ Disappointed; ‘Moonvember’ Hype Starts Building Up  CoinDesk
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1. Trump threatens to deploy the military ‘guns-a-blazing’ to Nigeria  Politico
2. Trump threatens US military action in Nigeria over treatment of Christians  Reuters
3. Rap star Nicki Minaj thanks Trump for addressing persecution of Christians in Nigeria  Fox News
4. Trump says Christians face “existential threat” in Nigeria, opens door for sanctions  CBS News
5. Nigeria pushes back after Trump claims country’s Christians face ‘existential threat’  AP News

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XRP is once again commanding attention across the crypto market as bullish momentum builds following Ripple’s latest escrow unlock, fueling speculation that XRP could be gearing up for a major breakout toward $3.50.
After climbing above the $2.50 mark for the first time in years, traders and analysts are turning increasingly optimistic about XRP’s next move. A combination of strong technical signals, growing institutional interest, and Ripple’s consistent token management has set the stage for what could become one of XRP’s most significant rallies of 2025.
Ripple has released 1 billion XRP—valued at approximately $2.5 billion at the current XRP price—as part of its regular monthly escrow schedule for November 2025. According to Ripple’s established procedure, the release aims to ensure liquidity and support operational needs while maintaining predictability in supply management.

Ripple’s routine release of 1 billion $XRP worth over $2.5 billion adds short-term liquidity, though most tokens typically return to escrow. Source: ZARcryptoTV via X
The company has been following this system since 2017, routinely unlocking 1 billion XRP and relocking 80–90% of the tokens back into escrow. This transparent process helps regulate the XRP market supply and prevents sharp price swings.
Ripple’s latest escrow movement comes amid renewed optimism in the XRP crypto market, with the XRP price today hovering around $2.50 and showing signs of further bullish activity.
Technical analysts and trading groups have spotted a strong bullish confirmation on lower timeframes for XRPUSDT, signaling an opportunity for a potential swing buy. According to a post by Team Setupsfx, the major upside target for the ongoing move stands at $3.50, though analysts noted the price could “move beyond that region” if momentum continues to build.

Bullish signals on smaller timeframes suggest a swing buy with a $3.50 target. Price could move higher—like and comment your next crypto pair! Source: Setupsfx on TradingView
Independent traders on social media platforms echoed the optimism. Popular crypto analyst @Steph_iscrypto highlighted a bullish expansion signal on the daily XRP/USD chart using EMA ribbons. “The next huge XRP rally is imminent,” the analyst posted on X, projecting a 28–71% rally from current levels.
Sentiment across the XRP market has been strengthening, fueled by growing institutional interest and confidence in Ripple’s ongoing developments. Influencers have noted that larger entities may have accumulated long positions during XRP’s consolidation phase, positioning for potential upside ahead of the next XRP bull run.
This aligns with historical performance data—November has typically been one of XRP’s stronger months, with average gains above 80% in several previous years. Analysts say that if this pattern holds, XRP could test higher resistance zones beyond $3.50, potentially revisiting its all-time high range in future market cycles.
As XRP builds strong bullish momentum, analysts are closely monitoring price action for confirmation of a sustained breakout. The current XRP price near $2.50 has already surpassed key resistance levels, and the $3.50 target represents the next major test for bulls.

XRP was trading at around $2.50, up 2.42% in the last 24 hours at press time. Source: Brave New Coin
While speculative enthusiasm remains high, traders caution that market volatility could intensify if profit-taking occurs around psychological price zones. Still, with increasing institutional participation and Ripple’s ongoing real-world adoption, the XRP price forecast for 2025 appears optimistic.
If momentum continues, XRP could not only hit its $3.50 target but also potentially enter a new expansion phase—reviving discussions about whether XRP could reclaim or surpass its previous all-time highs.
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The U.S. Securities and Exchange Commission (SEC) recently granted a delay in compliance deadlines for Regulation NMS, which affects the equity trading market. This delay, extending into 2026, could have important legal consequences for crypto exchanges such as Coinbase, Kraken, and Binance. These exchanges, facing SEC enforcement actions, now have a new line of defense based on the SEC’s own actions, potentially strengthening their legal positions in court.
On October 31, 2025, the SEC issued an exemptive order delaying the compliance deadlines for certain provisions of Regulation NMS. These regulations govern U.S. equity markets, including rules about minimum pricing increments, access fees, and transparency.
The delay was granted until February and November 2026, citing ongoing judicial review and funding lapses within the agency. According to SEC Chairman Paul Atkins, the relief was essential to “facilitate orderly market functions” amid regulatory challenges and a partial government shutdown.
The SEC’s decision impacts traditional stock exchanges, including Nasdaq and the New York Stock Exchange (NYSE). However, the broader significance lies in how this order could be applied to crypto exchanges that are under SEC scrutiny. Crypto exchanges have long argued that they need clearer rules and more time before being held to securities regulations. This delay now serves as a precedent for those platforms, providing a basis for requesting similar delays in their cases.
For crypto platforms like Kraken, Binance, and Coinbase, the SEC’s delay offers a new argument in their ongoing legal battles. These exchanges have consistently raised “fair notice” and due process defenses when facing SEC enforcement actions.
Their central argument is that the SEC cannot fairly enforce securities laws without providing clear and finalized rules for the crypto market. They contend that the lack of specific guidelines leaves them in a state of uncertainty, making it difficult to comply with the regulations.
The SEC’s decision to delay enforcement for equity markets, due to similar concerns about regulatory uncertainty, mirrors the arguments crypto defendants have made. These platforms claim that enforcement actions for failing to comply with unclear or incomplete regulations would violate their constitutional rights to due process. By acknowledging the need for delays in traditional markets, the SEC has now given crypto exchanges an additional legal tool to challenge enforcement actions in court.
The SEC’s exemptive relief for equity markets sets a precedent that crypto platforms can use in their defense. The order recognizes that enforcement without clear rules creates confusion and disorder. This aligns with the legal arguments made by crypto exchanges, who have faced lawsuits for operating unregistered exchanges and dealing with digital assets under ambiguous rules.
For example, Kraken and Bittrex have used similar arguments in their defense, claiming that they did not have fair notice about how to apply the SEC’s rules to crypto activities. Judges in some cases have allowed these defenses to proceed, highlighting the lack of clear regulatory guidance. The SEC’s delay in equity market regulations strengthens this defense by showing that even traditional financial institutions need more time to comply when the rules are uncertain.
With the SEC’s recent order providing relief to traditional exchanges, crypto exchanges are likely to use this development in their legal arguments. As the SEC has acknowledged that delayed compliance can be necessary when regulatory frameworks are still in flux, crypto lawyers will likely cite this reasoning in motions for stays, injunctions, and appeals. This strategy could buy more time for exchanges while the SEC works to finalize crypto-specific regulations.
Crypto exchanges are also expected to continue pushing for more clarity in how they can comply with U.S. securities laws. The SEC has yet to finalize rules governing the trading and custody of digital assets, leaving crypto platforms in a state of legal uncertainty. The recent delay in equity market regulations, however, offers a path for these platforms to argue for additional time and regulatory clarity, which could influence the outcome of current and future legal battles.
Kelvin Munene is a crypto and finance journalist with over 5 years of experience in market analysis and expert commentary. He holds a Bachelor’s degree in Journalism and Actuarial Science from Mount Kenya University and is known for meticulous research in cryptocurrency, blockchain, and financial markets. His work has been featured in top publications including Coingape, Cryptobasic, MetaNews, Coinedition, and Analytics Insight. Kelvin specializes in uncovering emerging crypto trends and delivering data-driven analyses to help readers make informed decisions. Outside of work, he enjoys chess, traveling, and exploring new adventures.
TLDR SEC delays NMS compliance deadlines, offering crypto exchanges more time to comply. Crypto exchanges…

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Bitcoin appears to be gearing up for a major move as key technical patterns align. A strong triangle support structure and a developing inverse head and shoulders pattern are signaling a potential bullish reversal. Momentum is tightening, suggesting that a breakout could be closer than it seems.
Massive Triangle Formation Holds Firm Amid Market Shakeouts
Batman, a well-known crypto analyst, recently highlighted that Bitcoin has been consolidating for several weeks within a massive descending triangle formation. Despite multiple shakeouts attempting to push the price lower, the key support level has consistently held firm, signaling underlying strength in the market. 
Related Reading: Bitcoin At Key Retest: Bounce Or $98,000 Next?
He noted that the current setup represents a classic, textbook pattern often seen before an explosive breakout in price. Each test of support has been met with strong buying interest, showing that bulls are actively defending the lower boundary of the structure. The classic textbook formation suggests that Bitcoin’s price is coiling up energy for a potential breakout once momentum returns.
Batman remains highly optimistic about Bitcoin’s next move, stating that his target remains clear at $126,000. He cautioned traders not to underestimate the setup, emphasizing that the current price action could mark the calm before a major surge. In his view, this represents a big opportunity for those watching closely, as the market prepares for what could be the next explosive leg higher.
Technical Setup Hints At Shift From Consolidation To Expansion
According to GandalfCrypto in a current update, Bitcoin is currently forming a potential inverse Head & Shoulders pattern, which often signals a major trend reversal in technical analysis. The structure has been developing over the past few weeks, with clear left and right shoulders forming, while the neckline sits around the $115,000–$116,000 range. This area has become a key zone to monitor, as it represents the boundary between continued consolidation and a potential bullish breakout.
Related Reading: Here’s Why Bitcoin Market Dynamics Are Evolving As New Developments Surface Overnight
GandalfCrypto explained that if Bitcoin successfully breaks above this neckline with strong volume, it would validate the reversal pattern and likely trigger a surge toward the $130,000 target. Such a move would confirm renewed strength among buyers and could mark the beginning of a sustained bullish phase after weeks of sideways movement and uncertainty. 
He further noted that momentum indicators are coiling tightly, reflecting a buildup of energy beneath the surface. GandalfCrypto emphasized the importance of patience and precision, waiting for a confirmed breakout rather than preempting the move, as this will distinguish traders who capture the next leg higher from those caught in false starts.
Select market data provided by ICE Data Services. Select reference data provided by FactSet. Copyright © 2025 FactSet Research Systems Inc.Copyright © 2025, American Bankers Association. CUSIP Database provided by FactSet Research Systems Inc. All rights reserved. SEC fillings and other documents provided by Quartr.© 2025 TradingView, Inc.

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