Markets React to Powell as Binance and Thunes Target Africa while FATF Clears 4 African States
TawkCryptoWrap | October 31, 2025
Hey TawkTribe,
Looks like last week’s green candles did not last for long. The week started relatively stable, upholding the previous week’s prices, but not for long, as Jeremy Powell’s comments plunged the market, with BTC dropping below the $110,000 mark.
Meanwhile, momentum across Africa remains strong; four countries have exited the FATF grey list, Nigeria’s crypto transactions soared past $50 billion in a year, and fintech players like Bitcoin & Thunes and Flutterwave & Polygon Labs are expanding services that cement the continent’s role in the next wave of digital finance.
Let’s Dive In
Market Snapshot
Volatility is cooling, and crypto assets are now showing early signs of recovery.
Bitcoin (BTC): $109,931 (↓1.41%): market sentiment cooled following Fed caution and global trade tensions.
Ethereum (ETH): $3,873.09 (↓1.74%): dip reflects short-term profit-taking and cautious sentiment
BNB: $1,088.82 (↓2.33%): signals mild investor rotation
Ripple (XRP): $2.50 (↓1.34%): a reflection of profit-taking and cautious sentiment amid broader market volatility
Solana (SOL): $185.85 (↓3.59%): pullback suggests consolidation after recent gains.
Market Overview
Total Market Cap: $3.8T
24h Volume: $131.9B
BTC Dominance: 57.8% (+0.73% from yesterday)
Fear & Greed Index: 50 - Neutral
What’s Moving Markets
Markets opened the week on a continuation of last week’s gains, but expectations quickly whittled down following the Fed’s tempered outlook and U.S.–China trade concerns.
Here’s what is happening.
After the previous dip, the crypto market rebounded early in the week, with BTC moving back above $115K and ETH near $4,200.
Moreover, Powell’s remarks from the Fed meeting, saying another rate cut in December was “not guaranteed” immediately triggered a market decline.
BTC dropped sharply, from above $111K to below $108K within 24 hours.
ETH and altcoins mirrored that slide. Over $1 billion in long liquidations occurred, amplifying the decline.
However, the market experienced a slight rebound following the United States-China trade meetings as the presidents of both countries agreed to a lower tariff on Chinese goods, from 57% to 47%.
The recovery is slow but steady. Bitcoin dominance is up, while the Fear & Greed Index is sitting at 51 (Neutral), showing that the volatility is slowly subsiding, and a modest rebound is on its way.
Top Stories of the Week
Nigeria’s SEC Pushes for Reforms as Cryptocurrency Transactions Hit $50 Billion in One Year.
This is yet another proof of Nigeria’s dominance in crypto transactions; no surprises, but undoubtedly impressive.
According to the Securities and Exchange Commission (SEC), Nigerians recorded over $50 billion worth of crypto between 2023 and 2024, exceeding participation in the Nigerian Capital Markets, where only about three million adults are active investors.
Could this stem from distrust in government institutions, or do Nigerians simply prefer speculative, fast-moving markets that feel less regulated?
Either way, the SEC is now pushing for reforms aimed at restoring public confidence and expanding financial access, a move that could reshape Nigeria’s financial future.
Nigeria, Mozambique, Burkina Faso, and South Africa Exit the FATF Money-Laundering Grey List
After more than three years, these African countries have been removed from the FATF’s money-laundering grey list.
This represents a significant turning point for African financial governance and economic development.
The Financial Action Task Force (FATF) uses a ‘grey list’ to ensure close monitoring of countries with weaknesses in their financial system.
What are the implications of delisting?
The removal of these African countries from the FATF grey list is expected to yield tangible financial results, including:
🟠Reduced Remittance Costs
🟠Enhanced global reputation
🟠Faster cross-border transactions
Nigeria, Mozambique, Burkina Faso, and South Africa have exited the grey list, leaving seven other African countries on the list.
Binance Expands Cryptocurrency Services in Africa
Global crypto exchange giant Binance is growing its presence across Africa.
The company announced its decision to expand its services across over 30 African countries.
Some of the selected countries include South Africa, Kenya, Ghana, Cameroon, and Ivory Coast, amongst others.
What does this expansion entail?
🟠 Binance’s One Click Buy & Sell (OCBS) Feature is now available.
🟠Users can buy cryptocurrency directly through bank transfers or P2P trading.
Thunes Announces Partnerships with Ecobank Group and Yellow Card
The future of Africa’s digital finance landscape just got brighter with Thunes’ recent partnership announcements.
Leading cross-border payment network Thunes has announced two strategic partnerships with Ecobank Group and Yellow Card.
Thunes × Yellow Card
This partnership is expected to unlock:
🟠 Seamless cross-border settlements
🟠 Lower transaction costs for global remittances
🟠 Reduced currency fluctuations in international transfers.
Thunes x Ecobank Group
The company also collaborated with Ecobank Group, a leading pan-African financial institution with operations in over 32 countries.
By harnessing Ecobank Group’s deep local expertise and reach, Thunes seeks to enable instant and seamless cross-border payments to and from sub-Saharan Africa.
Flutterwave Partners with Polygon Labs to Boost Cross-Border Payments in Africa
Another win for Africa’s digital finance!
Flutterwave, the region’s leading payment infrastructure provider, has partnered with Polygon Labs as the default blockchain to launch its new cross-border payment product.
Why Polygon Labs?
Polygon has earned its position as a leader in fast and low-cost blockchain payments, processing transactions in seconds under $0.01.
Recently, the network has hit some milestones:
🟠 Facilitating over 50% of USDC transfers in the United States within the $100 - $1000 range
🟠 Recording a 141% surge in small USDC transactions in 2025
What to expect from the partnership moving forward?
The partnership rollout will happen in phases, with the pilot phase commencing in 2025 and full rollout in 2026.
The collaboration is expected to bridge the gaps in traditional finance, expanding global participation while empowering consumers and businesses across Africa.
From the TawkCrypto Team
This week, the market lost over $1 billion in liquidation, but the markets continue to recover slowly but surely.
For Africa, this week was marked with innovation and partnerships.
Nigeria, Mozambique, South Africa, and Burkina Faso exited FATF’s grey list. Global fintech leaders Binance, Thunes, and Polygon expand footprints in Africa through partnerships. New reports reveal that over 50 billion worth of cryptocurrency transactions were recorded in Nigeria between 2023 and 2024.
Markets may fluctuate due to monetary policies or geopolitics, but the Africa crypto and fintech space stays winning and building.
Community Spotlight
Massive shoutout to everyone who kept building through the decline and recovery. Special recognition to:
African countries for creating a new reputation by exiting the grey list
Global fintech giants that have continued to take steps to improve financial access and stablecoin adoption in Africa
Every builder who keeps showing up for Africa, whether the market is up or down.
That’s a Wrap, TawkTribe!
From market stability to decline and bank to recovery, Africa continues to enhance its reputation and build valuable partnerships, proving that market volatility does not stop innovation in Africa.
Keep Building. Keep Trading. Keep Leading.
The TawkCrypto Team