Top stories this week
- World Liberty Financial Applies for OCC Trust Bank Charter
World Liberty Financial has applied for a national trust bank charter with the OCC to launch a stablecoin trust bank called USD1. The initiative is linked to the Trump family, indicating a significant move to integrate stablecoins with traditional financial systems.
- Morgan Stanley Files for Bitcoin and Solana ETFs
Morgan Stanley has filed for the creation of Bitcoin and Solana exchange-traded funds (ETFs), showing their major push into cryptocurrency investment products. This move reflects increasing institutional interest in cryptocurrencies, including future plans for Ethereum and Solana ETFs.
- Trump Rules Out Pardon for FTX Founder Sam Bankman-Fried
Former President Donald Trump stated that he will not grant a pardon to Sam Bankman-Fried, the founder of fallen crypto exchange FTX, amidst speculation regarding potential legal leniency for crypto executives.
- Tennessee Orders Cease-and-Desist to Kalshi, Polymarket, and Crypto.com
Regulators in Tennessee have issued cease-and-desist orders against Kalshi, Polymarket, and Crypto.com, targeting their unlicensed sports betting offerings as part of a crackdown on prediction market services.
- Morgan Stanley Files for Ethereum ETF
Morgan Stanley has filed paperwork with the SEC to initiate an Ethereum ETF, including a unique staking component. This development is part of a broader strategy for significant institutional participation in the crypto space.
- Wyoming Launches First State-Issued Stablecoin, FRNT
Wyoming has introduced FRNT, making it the first U.S. state to issue a state-backed stablecoin. This initiative marks a significant step toward integrating blockchain technology with state-level financial systems.
- Florida Considers Bitcoin-Focused State Reserve
Legislators in Florida are considering a new bill to create a state reserve with Bitcoin, highlighting renewed interest in leveraging cryptocurrency as a reserve asset despite previous failed legislative attempts.
- Indian Tax Authorities Warn Against Crypto Transactions
Indian tax authorities have flagged crypto transactions as a threat to tax enforcement, warning that they could hinder the government’s ability to monitor and collect taxes efficiently.
- Optimism Proposes OP Token Buybacks
The Optimism Foundation has proposed using 50% of its Superchain revenue for OP token buybacks, a strategic move aimed at enhancing the value and stability of its token ecosystem.
Hottest coins of the week
Story (IP)
Story (IP) coin has experienced a remarkable price surge, with prices climbing +22.18% in the last 24 hours and a stunning +79.95% for the week. This increase is likely driven by a combination of heightened investor interest and market speculation regarding the coin’s underlying utility or key partnerships. The overall bullish sentiment and positive market environment have fueled optimism about Story (IP)’s future growth potential, enticing investors looking for promising opportunities in the crypto landscape.
Dash (DASH)
Dash (DASH) has experienced a significant surge, increasing by over 23% in the past 24 hours and 79% in the past week, primarily driven by renewed interest in privacy-focused cryptocurrencies. Strong sector rotation and market attention have favored privacy coins, helping DASH break through a clear resistance with substantial trading volume. Additionally, the integration of Dash payments into AEON’s vast merchant network and speculation over potential future rallies have contributed to its upward price momentum.
River (RIVER)
The price of River (RIVER) has surged significantly, moving up +27.08% in the last 24 hours and +41.54% this week. This main driver appears to be increasing institutional demand and the expansion of Exchange-Traded Funds (ETFs) which are fueling a bullish crypto market sentiment. Additionally, the growth in derivatives trading volume and shifting regulatory policies are contributing as they further legitimize the cryptocurrency space, capturing investors’ attention and boosting RIVER’s market appeal.
Impossible Cloud Network Token (ICNT)
The Impossible Cloud Network Token (ICNT) has seen a remarkable price surge, climbing +18.36% in the last 24 hours and +39.59% this week. This impressive growth can be attributed to strategic partnerships and advancements in technology that the network recently announced. Investors are increasingly drawn to ICNT due to its innovative solutions in decentralized cloud storage, offering both security and scalability which are high priorities in today’s digital landscape.
Berachain (BERA)
In recent news, Berachain (BERA) has experienced significant price growth, with a +53.77% increase in the last 24 hours and +38.50% over the past week. This surge can be attributed to heightened investor interest and strategic developments, such as active balance management and strategic accumulation plans. The momentum in price is likely fueled by a combination of positive sentiment and effective marketing strategies drawing attention to Berachain as a promising crypto asset.
Axie Infinity (AXS)
Axie Infinity (AXS) has witnessed a remarkable surge, with a 25.66% increase in the past 24 hours and a weekly rise of 35.55%. This growth is likely driven by renewed interest in blockchain gaming and the ongoing development and enhancements within the Axie Infinity ecosystem. As gamers and investors alike flock to these innovative projects, AXS continues to capitalize on the vibrant market dynamics, prompting an encouraging trend in its value.
