😎 Revealed: The 'Two Ways To Win' In Crypto

Plus, was FTX really 'never really insolvent?'

Author

Ivan
October 31, 2025

Happy Friday!

Solana and Bitcoin are the ‘two ways to win’ in crypto, according to Bitwise’s Matt Hougan. What makes him say that?

Sam Bankman-Fried has surfaced with a new letter: he is claiming that FTX was ‘never really insolvent’.

Plus, join Direxion's expert team of analysts on Nov. 6 for a free webinar exploring how leveraged and inverse ETFs can be used to trade momentum, hedge risk and capitalize on late-year market moves — check out all the details here.

TOP STORY

Solana, Bitcoin Are The 'Two Ways To Win' In Crypto, Bitwise's Matt Hougan Says

Bitwise's Chief Investment Officer Matt Hougan says the best crypto investments offer “two ways to win,” pointing to Bitcoin and Solana as prime examples.

In a detailed X thread, Hougan explained that Bitcoin investors benefit both from the expansion of the global “store of value” market, now worth roughly $27.5 trillion (gold $25 trillion, BTC $2.5 trillion), and from Bitcoin gaining a larger share of that market.

If the market doubles to $55 trillion, BTC could double even without higher dominance; if its share doubles from 9% to 18%, it could again double.

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QUICK N DIRTY

Bitcoin, Ethereum, Dogecoin are somewhat recovering after a nasty sell-off following the FOMC meeting: here’s what’s driving the market today.

Ethereum is already in a bear market, according to a prominent trader who’s gone $1 million short on ETH. Here’s what made him do that.

Coinbase CEO Brian Armstrong shouted out Polymarket at the Q3 earnings call: here’s what made him a ‘legend,’ according to Anthony Pompliano.

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FINTECH FOCUS

'FTX Was Fine Until They Took It': SBF's Explosive Letter Blames Lawyers, But Would Trump Really Pardon Him?

Convicted FTX founder Sam Bankman-Fried said in a new 15-page letter that FTX “was never insolvent” and blamed lawyers for destroying what he called a $136 billion enterprise.

In the document dated Sept. 30, Bankman-Fried claimed FTX and Alameda Research entered the November 2022 liquidity crunch with $25 billion in assets and $16 billion in equity, enough to meet the $8 billion in withdrawal requests that triggered the collapse.

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