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Quick Take Lawmakers and crypto industry leaders have argued that digital asset firms face unique challenges when establishing and maintaining accounts in the U.S. The FDIC’s move comes after the U.S. Office of the Comptroller of the Currency said it had ended examining national banks and other financial institutions for reputation risk last week.
Quick Take Custodia and Vantage Bank have partnered on a new tokenization project that uses customer deposits to issue Avit stablecoins. The move represents the first-ever “bank-issued stablecoin” issued on a permissionless blockchain, namely Ethereum.
Quick Take OG blockchain developer and Yearn Finance founder Andre Cronje teased an algorithmic stablecoin product, much to the chagrin of some users. The possibility spurred call backs to Do Kwon’s defunct Terra ecosystem and its algo stablecoin UST.
Quick Take BlackRock and Securitize expanded the on-chain liquidity market BUIDL to Solana. BUIDL, which launched in March 2024 and is the largest fund within the tokenized money market fund sector, recently crossed $1.7 billion in AUM.
Quick Take Nikita Bier, founder of a popular social media app acquired by Meta, has joined Solana as an advisor to help as the blockchain seeks to grow its mobile app ecosystem. Bier, also a product growth partner at Lightspeed Ventures, said in a social media post, “Solana has the fundamental building blocks for something to break out on mobile and certainly many apps are making headway.”
Quick Take Ripple Chief Legal Officer Stuart Alderoty posted on Wednesday on X his potential “last update” on the case. Alderoty noted that this would all be subject to a commission vote, final documents and standard court processes
Quick Take The Senate hearing for the crypto-friendly SEC chairman nominee is scheduled for Thursday, March 27. According to an ethics filing obtained by Fortune, Atkins held a board seat and owned up to $500,000 in call options in Securitize.
BlackRock is expanding its footprint in the crypto industry as it launched a Bitcoin ETP in the EU following proof of high demand in the region.
Chainlink (LINK) is gaining attention in the crypto space, with analysts highlighting a potential 200% rally supported by a bullish flag pattern.
- 00:59"Fed's Mouthpiece": The sentiment of American consumers is even lower than the lowest point during Biden's termAccording to a report by Golden Finance, Nick Timiraos, a Wall Street Journal reporter known as the "Fed's mouthpiece," stated that a consumer survey from the University of Michigan shows inflation expectations have soared. The one-year inflation expectation has jumped from 5.0% to 6.7%, the highest level since 1981, with an abnormal increase of 0.5 percentage points or more for four consecutive months. Democrats, Republicans and Independents all expect overall long-term inflation expectations to rise; in April it climbed to 4.4% (up from previous value of 4.1%), with Independents' increase being particularly significant. Consumer sentiment is now even lower than when oil prices and inflation skyrocketed during President Biden's term.
- 00:55Overview of Key Overnight Developments on April 1221:00-7:00 Keywords: Tariffs, US Customs, Gold 1. US Customs: Tariff declaration system malfunction; 2. BlackRock increases holdings by 4,238 ETH through its Ethereum ETF; 3. US SEC Commissioner focuses on investor risks and regulatory gaps in crypto trading platforms; 4. Spot gold surged in the short term, breaking through $3,240 per ounce, hitting a new historical high; 5. JPMorgan CEO Dimon: US bond market will experience turmoil, prompting Fed intervention; 6. "Fed's Mouthpiece": US consumer sentiment is even lower than the lowest point during Biden's term; 7. Acting US SEC Chair: Federal framework regulation of crypto trading should be considered to promote blockchain innovation.
- 00:52Acting Chair of the U.S. SEC: We should consider federal framework regulation for cryptocurrency transactions to promote blockchain innovationAccording to Jinse Finance, at the second roundtable meeting of the Cryptocurrency Working Group, Mark T. Uyeda, Acting Chairman of the US SEC, stated: "We should consider whether there are more efficient regulatory methods." He pointed out that "under an inclusive federal regulatory framework, some market participants may prefer to provide tokenized securities and non-securities cryptocurrency trading services under a single SEC license rather than relying on licenses from 50 different states." Uyeda emphasized that "blockchain technology has the potential to execute and clear securities transactions in a more efficient and reliable manner than current processes." He suggested that "a time-limited, conditional exemption regulatory framework could allow blockchain technology to achieve greater innovation in the United States in the short term."