This Week in Crypto – MrBeast Goes Bank, OpenSea Goes Token, Zypto Goes Big

Gm frens, welcome to our penultimate series for the month!

MrBeast files for a crypto banking app, OpenSea plans a 2026 SEA token launch, while Ripple seeks to buy $1 billion XRP tokens for a new treasury. Japan’s banks move closer to holding Bitcoin, Coinbase buys an NFT for $25 million – and Zypto’s expanding Rewards Hub and Referrals Program proves that user loyalty and engagement are driving the next phase of DeFi growth.

Let’s dive in.

OpenSea to launch SEA token in 2026

OpenSea, once the largest marketplace for digital collectibles, is preparing to launch its own native token, SEA, by the first quarter of 2026. The plan follows a surge in platform activity after OpenSea expanded beyond NFTs to enable trading across all digital assets.

On October 17, OpenSea co-founder Devin Finzer affirmed that the new token will be the cornerstone of the platform’s evolving identity. He explained that it represents OpenSea’s vision for a more open and liquid on-chain economy. He said,

“Integrating SEA into OpenSea will be the opportunity to show the world our vision. It will shine a spotlight on everything we’re building,”

According to Finzer, half of SEA’s supply will go to the community, with a majority distributed through an initial claim process. Longtime users and participants in OpenSea’s loyalty programs will be prioritized. 

SEA will include staking capabilities, allowing holders to earn rewards while supporting network growth. Also, 50% of its launch revenue will be allocated toward buying back SEA tokens, reinforcing liquidity and value alignment with users.

Meanwhile, OpenSea’s token initiative is part of a broader transformation to make the platform “trade everything.” The company is also developing a mobile app, perpetual futures trading, and cross-chain abstraction tools. Each future is designed to make on-chain trading as smooth as using a centralized exchange.

Finzer said OpenSea’s early years were about bringing artists, collectors, and gamers into Web3 through NFTs. He explained that the next phase gives users a single venue to manage and trade multiple asset types without relying on custodial intermediaries.

Notably, the shift is already yielding positive results for the legacy NFT platform. Indeed, OpenSea processed over $2.6 billion in total trading volume this month, with more than 90% coming from token trades.

Data shows that on October 15, the platform recorded its highest single-day decentralized trading volume of about $462.7 million. This makes it one of the fast-rising DEX platforms in the competitive DeFi space.

These numbers signal a comeback for a platform once overshadowed by newer players. With SEA’s debut on the horizon, OpenSea is positioning itself as a core liquidity layer for the broader on-chain economy rather than just an NFT venue.

Ripple seeks to buy $1 billion XRP tokens for a new treasury

Ripple Labs is reportedly on the cusp of launching a fundraising effort to purchase $1 billion worth of its XRP token to hold in a digital asset treasury. The fundraiser is being organized through a special purpose acquisition company (SPAC), as reported by CoinTelegraph.

The digital asset treasury (DAT) will consist of the freshly bought XRP, and Ripple will also throw in some of its own stockpile, but the exact terms of the transaction are still being hashed out, and could change before the deal is inked.

Generally speaking, Ripple Labs is already a significant holder of XRP. 

It already had a stash of over 4.5 billion XRP according to its May market reports. Similarly, Ripple Labs has another 37 billion tokens locked in an on-ledger escrow, which is released monthly. If the reported $1 billion comes to fruition, it could scoop up another 427 million for its stash. 

Basically, the deal would make Ripple Labs the leading XRP treasury.

The big question on everyone’s mind now is pretty straightforward: why would Ripple raise external capital when it is sitting on over 30 billion XRP in escrow accounts? 

XRP community analyst Nietzbux tackled this head-on, and he confirmed that multiple community members have been asking the same thing. His theory, while speculative, offers an interesting perspective on what might be happening.

The pre-allocation theory suggests Ripple may have already entered deals that effectively sold most of its escrow holdings to institutions. These tokens would still appear in escrow accounts, but aren’t owned by Ripple anymore. If this is true, then this could explain why the Ripple XRP buyback is happening via fundraising.

Furthermore, Ripple Labs is joining a growing institutional movement.  The company is joining a trend that’s been building momentum in recent months, and the timing seems deliberate when you look at what other firms have been doing. 

VivoPower made waves earlier this month by raising $19 million to expand its XRP treasury. Other firms like Everything Blockchain and Trident Digital have also announced plans to establish similar treasury structures, which have been seen by many XRP holders as a positive sign.

MrBeast files for a crypto banking app

Jimmy Donaldson, the 27-year-old creator behind global YouTube sensation MrBeast, has filed a trademark application to create a banking platform. According to a filing from the United States Patent and Trademark Office (USPTO), the creator applied to trademark “MrBeast Financial” on October 13.

The filing unveiled offerings such as issuing credit and debit cards, processing crypto payments, facilitating crypto exchanges through decentralized platforms, and offering other investment services.

The move marks MrBeast’s shift from entertainment to blockchain-driven financial services. If successful, it could establish him as the first influencer to launch a mainstream, large-scale banking brand in the United States.

According to the USPTO’s standard review process, the trademark will undergo its initial examination around mid-2026. A final decision will likely arrive before the end of next year.

Yet, this move isn’t the first time MrBeast, for better or for worse, has ventured into cryptocurrencies.

Last October, he was embroiled in a scandal after crypto sleuth SomaXBT revealed that the content creator allegedly made over $10 million by backing low-cap tokens. Similarly, Loock Advising alleged the YouTuber had profited at least $23 million from insider trading incidents linked to rug pulls.

However, MrBeast’s latest filing suggests he’s ready to formalize his role in finance after years of experimentation with crypto.

Whether MrBeast Financial becomes a legitimate banking platform or another influencer-led experiment, its success will test how far digital creators can extend their influence beyond entertainment and into finance. 

Japan’s banks may soon hold Bitcoin

Japan’s financial landscape is transforming digitally. The Financial Services Agency (FSA) has begun considering regulatory reforms permitting domestic banks to acquire and hold non-backed crypto assets, such as Bitcoin, for investment.

The FSA’s deliberation signals a significant re-evaluation of its conservative regulatory stance. Historically, supervisory guidelines revised in 2020 effectively barred bank groups from acquiring crypto assets for investment, citing extreme volatility concerns.

The domestic crypto market, however, is showing robust maturity. 

There are reports that indicate that the number of crypto accounts opened in Japan surpassed 12 million by the end of February this year, representing a 3.5-fold increase over the past five years.

Despite supporting institutional crypto investment, the agency remains focused on establishing robust safeguards. Key discussions at the Financial System Council will focus on implementing measures to ensure the financial soundness of the system. Specifically, these measures will mandate strict requirements for banks.

Ultimately, this measured, two-pronged approach, allowing entry while strictly managing risk, aligns with the global regulatory philosophy of fostering innovation in a controlled environment.

The collaborative stablecoin effort is adding momentum to Japan’s digital asset integration. The nation’s three megabanks, Mitsubishi UFJ Financial Group (MUFG), Sumitomo Mitsui Financial Group (SMFG), and Mizuho Financial Group, are moving to issue corporate-use stablecoins jointly.

The focus is initially on a yen-pegged version, with plans to expand to a US dollar-pegged coin later. This initiative leverages the updated Payment Services Act 2023, establishing a clear legal framework for stablecoin circulation.

The banks plan to use the system developed by fintech firm Progmat Inc. The key innovation is the establishment of a unified standard for these stablecoins. This ensures interoperability and smooth fund transfers among the corporate clients of all three banks.

The primary objective is to utilize blockchain technology for faster, cheaper, and more efficient corporate payments and cross-border remittances, which will help reduce Japanese corporations’ administrative burdens.

Moreover, the FSA is further supporting infrastructure build-out by considering allowing bank groups to register as Crypto Asset Exchange Service Providers. This solidifies the role of highly-compliant TradFi institutions in the entire digital asset ecosystem.

Coinbase purchases an NFT for $25 million 

Coinbase just took up a famous offer, purchasing another season of the UpOnly podcast for $25 million. The hosts promised to release eight more episodes if a benefactor purchased a unique NFT.

UpOnly, a popular crypto podcast, ended several months ago, but one of its co-hosts created a bizarre challenge: if anyone purchased a $20 million NFT, the program would return for another season. 

The offer contained stipulations such as a lack of sponsorship rights or editorial control  for the program. It also mentioned that it retains full freedom to ignore Coinbase’s generosity, or even make fun of the company during its airtime, but it would resurrect the podcast. 

Incredibly, an unlikely buyer actually took the hosts up on this ‘joke’ offer. Not only did Coinbase purchase UpOnly’s NFT, but the popular exchange actually overpaid the asking price by $5 million. 

Since this took place, the crypto community has been in an absolute uproar. Jordan Fish, the UpOnly co-host who first minted the NFT, conveyed his disbelief at Coinbase’s purchase quite succinctly.

Quite frankly, no one expected this to actually happen. There’s no public reason why Coinbase decided to spend $25 million on eight episodes of UpOnly, but it seems like a PR stunt. Still as far as PR stunts go, this feels like a pretty inventive one. 

A little outside context might help explain why Coinbase picked today to renew UpOnly. 

Coinbase has suffered technical difficulties as the Amazon Web Services (AWS) outage took down its premium trading platform and other services. After several hours of working on it, the issues persisted. Some users were even warned that some of their account balances would reflect zero for certain tokens.

Now, however, Coinbase has got the crypto community to talk about UpOnly instead of its serious infrastructure issues. Considering that the exchange has billions in annual revenue, $25 million seems like a small price to change the narrative.

Plus, it may even get to have a company representative as a guest on the new podcast.

Zypto boosts growth through Referrals and Rewards Hub

Zypto’s in-app Rewards Hub continues to set the benchmark for user engagement, with its referral-driven rewards model gaining strong momentum.

Users earn ZYP points for every referral and qualifying activity inside Zypto App, which can then be redeemed toward crypto cards, bill payments, mobile topups and Vault Key Cards.

The program also features daily rewards for Zypto Token holders through Zyptopia via the Zypto Foundation, reinforcing Zypto’s position as one of the few DeFi ecosystems rewarding users for both activity and loyalty.

Find out more here.

Final remark

MrBeast Financial positions MrBeast as the first major influencer to launch a mainstream US banking brand tied to blockchain innovation. A successful approval can be a potential game-changer for the industry.

The pattern of institutional fundraising suggests that investors are viewing XRP as a long-term strategic asset rather than just a speculative token. Fortunately, this is feeding into bullish XRP price prediction scenarios.

Japan’s three largest banking groups are pursuing a plan to issue yen-pegged stablecoins jointly. This dual push by regulators and traditional finance (TradFi) giants aims to rapidly integrate digital assets into the mainstream economy.

Whatever Coinbase’s motivation may be, this UpOnly NFT is a truly comical incident. Hopefully, its hosts won’t resent their new benefactor for making them resurrect the canceled program.

Finally, Zypto’s growing Rewards Hub and referral system highlight a DeFi model built on loyalty and real utility, driving long-term ecosystem growth.

Let us know in the comments section your thoughts on the crypto news this week!