While a deliriously caffeinated development crew and a few confused investors watch the switches and gears, SHIB’s price continues to do the cosmic samba, down 23% in the past year. 🤷♂️
By definition, the National Trust Charter is a federal grant that lets an institution operate as a national trust bank. Yet such banks, in truth, are often non-depository; their labor lies in fiduciary service, custody of assets, and the management of a weighty trust. A practical trench where many crypto firms crave a license to hold and shepherd digital assets at scale, across borders. Coinbase, though, keeps its gaze fixed on the fiduciary status the license promises. It vows to move beyond custody toward payments and other services, while denying any desire to become a bank – a theater of contradictions if you squint hard enough.
On October 3, Coinbase announced it’s pursuing the United States OCC Federal Charter, a move that sounds very grown-up and possibly terrifying. It’s pitched as a step toward scaling up, but with a brand-new set of regulatory oversight that makes the adult world feel a tad more glamorous-and a lot more paperwork. The broader financial sector might just get a sprinkle of innovation, if the stars align and the audit reports behave themselves. 📝✨
Ah, Tether! The world’s largest stablecoin issuer has grand plans indeed. They’re launching a sparkling new $200 million crypto fund in cahoots with Antalpha, that charming Singaporean delight, all in the name of establishing a digital asset treasury. How chic, wouldn’t you agree? They’re focusing on acquiring XAUT, the gold-backed token that everyone’s gabbing about. Such a keen interest in stability, how very *noble*. 🌟
Over the past week, these brave, yet oddly calm financial instruments recorded a staggering $3.24 billion worth of cumulative net positive inflows. A triumph almost as grand as the mighty $3.38 billion they achieved in the week ending Nov. 22, 2024, according to SoSoValue’s mystical data.
The token jumped 17.8% to $2.22, with trading volumes hitting $1.42 billion – because nothing says “I’m a solid investment” like a number with a bunch of zeros. Market cap hit $3.69 billion, per CoinMarketCap, which is either impressive or just the GDP of a small country. 🏦
Meanwhile, the U.S. government, in its infinite wisdom, decided to shut itself down, because why not? Financial oversight? Pah! Who needs it when you can have chaos? The ETF approval process, already more convoluted than a Dostoevsky novel, now resembles a Kafkaesque nightmare.
According to their latest tea-I mean, announcement-MARA’s BTC reserves grew by 373 coins last month. And get this: they mined 736 BTC in September, worth $88.6 million. That’s a 4.4% increase from August, because apparently they’re not here to play games. 🎮💸
Of course, the XRP army is losing their minds. “Satoshi loved us first!” they cry, while Bitcoin maximalists roll their eyes so hard they’re practically doing yoga. 🤸♂️ One particularly enthusiastic soul, JackTheRippler ©, declared XRP “A DONE DEAL” in all caps, because nothing says credibility like excessive exclamation marks. BOOOOOOOOOOOOOOOOOOOOM!!! indeed.
Crypto’s latest institutional flip involves rate cuts, regulatory shifts, and asset floodgates opening-because nothing says “stability” like turning everything into a token. Franklin Templeton, a financial giant with a spreadsheet for a soul, reflected on this chaos via its Franklin Templeton Digital Assets account. On Oct. 2, they tweeted: “September brought steady progress across the digital asset space, with notable developments in tokenization, regulatory developments, and mainstream market participation.” If by “progress” they mean “panic,” well done, Franklin. 🤷♂️
