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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
10/28/2025

Today's Crypto News: Trump Nominates New CFTC Chair, Capital Returns to Bitcoin ETFs, Australia Reviews Digital Asset Bill

The crypto market today saw several major developments spanning policy, capital flows, and regulatory frameworks across key global markets. Trump Nominates Michael Selig as CFTC Chair President Donald Trump has officially nominated Michael Selig, an official at the U.S. Securities and Exchange Commission (SEC), to serve as Chairman of the Commodity Futures Trading Commission (CFTC). The move is seen as a step to reinforce the Trump administration's pro-crypto stance, with the goal of m

Today's Crypto News: Trump Nominates New CFTC Chair, Capital Returns to Bitcoin ETFs, Australia Reviews Digital Asset Bill

The crypto market today saw several major developments spanning policy, capital flows, and regulatory frameworks across key global markets.

Trump Nominates Michael Selig as CFTC Chair

President Donald Trump has officially nominated Michael Selig, an official at the U.S. Securities and Exchange Commission (SEC), to serve as Chairman of the Commodity Futures Trading Commission (CFTC). The move is seen as a step to reinforce the Trump administration's pro-crypto stance, with the goal of making the United States the "crypto capital of the world."

If confirmed by the Senate, Selig would replace acting Chair Caroline Pham, who is expected to depart once her successor is confirmed. The nomination comes as the U.S. government enters its fifth week of a shutdown following Congress's failure to reach a budget agreement.

Capital Returns to Bitcoin ETFs

According to the latest report from CoinShares, crypto investment products (ETPs/ETFs) recorded $921 million in net inflows last week, fully reversing the $513 million in outflows seen the week prior. The turnaround was driven largely by lower-than-expected U.S. inflation data, which bolstered expectations that the Federal Reserve (Fed) would move to cut interest rates sooner.

Bitcoin was the centerpiece of the recovery, pulling in $931 million in inflows — nearly offsetting the entirety of the prior week's decline. Meanwhile, Ether (ETH) saw $169 million in outflows — its first week of net outflows after five consecutive weeks of inflows. CoinShares analyst James Butterfill noted that the softer CPI data helped "revive expectations of monetary easing," improving overall investor sentiment.

Australia's Crypto Industry Calls for Clarity on Digital Asset Bill

In Australia, the crypto industry is pressing the government to clarify provisions in the digital asset bill released last month. The legislation aims to extend the existing financial regulatory framework to cover digital assets, but industry participants say the current draft is still "light on detail" regarding licensing processes and cross-border liquidity requirements.

Former BTC Markets CEO Caroline Bowler commented: "The government has shown genuine intent in building a clear regulatory framework for digital assets, but any structure needs to be backed by transparency." Meanwhile, Crypto.com and Swyftx are calling on the government to accelerate revisions and pass the legislation — potentially as early as March next year.

Conclusion

With policy, capital flows, and regulatory frameworks all in focus at once, the global crypto market is entering a new phase of adjustment — one where investor confidence and national regulatory direction will be decisive factors shaping what comes next.