The American Bankers Association pressed the OCC to delay new national trust bank charters for crypto and stablecoin firms until the GENIUS Act framework is fully in place. The American Bankers Association (ABA) is urging the Office of the Comptroller of the Currency (OCC) to slow its approval of national trust bank charters for crypto and stablecoin firms until the regulatory landscape under the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act is clearer. In a Wednesday comment letter on the OCC’s national bank chartering notice of proposed rulemaking, the trade group warned that recent and future applicants engaged in stablecoin and digital asset activities face still‑unsettled oversight from multiple federal and state regulators. The ABA said that the OCC should not advance applications where an institution’s full regulatory obligations, including under forthcoming GENIUS Act rulemakings, are not yet fully defined. Read more
Binance completed its $1 billion Bitcoin conversion for its emergency user fund as crypto sentiment hit record lows and smart money traders increased short exposure. Binance completed the $1 billion Bitcoin conversion for its emergency fund, committing to holding Bitcoin as its core reserve asset. Binance purchased another $304 million worth of Bitcoin (BTC) on Thursday, completing the conversion of $1 billion in Bitcoin for its Secure Asset Fund for Users (SAFU) wallet, according to Arkham data. The fund now holds 15,000 Bitcoin, worth over $1 billion, acquired at an average aggregate cost basis of $67,000 per coin, Binance said in a Thursday X post. Read more
Cathie Wood’s ARK Invest bought nearly $50 million of Robinhood, Bullish and Circle shares as Bitcoin dipped and US spot BTC ETFs saw $276 million in outflows. ARK Invest, the investment firm led by Bitcoin bull Cathie Wood, snapped up a significant batch of crypto-linked stocks on Wednesday as BTC briefly dipped below $66,000. ARK purchased 433,806 shares of Robinhood (HOOD) for approximately $33.8 million, according to a trade notification reviewed by Cointelegraph. The asset manager also boosted its exposure to crypto exchange Bullish (BLSH) and USDC (USDC) issuer Circle (CRCL), acquiring 364,134 shares valued at $11.6 million and 75,559 shares worth $4.4 million, respectively. Read more
Strategy CEO Phong Le says the company is moving away from issuing and selling common stock to buy Bitcoin and isn't interested in acquiring Bitcoin treasuries. Bitcoin treasury company Strategy will further lean on its preferred stock sales to acquire Bitcoin, shifting from its strategy of selling common stock, says CEO Phong Le. “We will start to transition from equity capital to preferred capital,” Le told Bloomberg’s “The Close” on Wednesday. Stretch (STRC) is Strategy’s perpetual preferred stock, launched in July, and is aimed at buyers looking for stability by offering an annual dividend of over 11%. Read more
Fundstrat's Tom Lee argues Ether is close to the bottom and says investors should be thinking about opportunities instead of selling. Fundstrat head of research Tom Lee said he expects Ether to rebound quickly following recent declines, arguing the asset has experienced eight such recoveries since 2018. “A lot of people are frustrated, but keep in mind that Ethereum, since 2018, has fallen more than 50% eight times,” Lee said at a conference in Hong Kong on Wednesday. Last year, Ethereum fell 64% from January to March, he added. Read more
Russian news outlets reported on Wednesday that WhatsApp’s domain had been completely blocked and was inaccessible without a VPN or another workaround. WhatsApp, the messaging app owned by social media giant Meta, has accused Russia of attempting to block access for millions of its users to push them towards its state-owned alternative. “Trying to isolate over 100 million users from private and secure communication is a backward step and can only lead to less safety for people in Russia. We continue to do everything we can to keep users connected,” the company said in an X post on Wednesday. Moscow’s state-backed platform Max was launched in March 2025 by Russian tech firm VK as a domestic alternative to foreign-owned services such as WhatsApp and Telegram. Read more
Binance Thailand’s CEO says it is a “watershed moment” for digital assets in the country, as they are no longer being treated as mere speculative instruments. Thailand’s government on Tuesday approved the Finance Ministry’s proposal allowing digital assets to be used as underlying assets in the country’s derivatives and capital markets. The move aims to modernize Thailand’s derivatives markets in line with international standards, strengthen regulatory oversight and investor protection, and position itself as a regional hub for institutional crypto trading, the Bangkok Post reported. The country’s Securities and Exchange Commission (SEC) will amend the Derivatives Act to enable these new asset classes, which include Bitcoin (BTC) and carbon credits. Read more