The White House is set to issue an executive order fining banks that discriminate against crypto companies or drop customers for political reasons, as reported by The Wall Street Journal. The order directs regulators to investigate potential violations of the Equal Credit Opportunity Act and other financial laws, with penalties including fines and consent decrees. This represents a departure from Biden-era policies under Operation Chokepoint 2.0, with the Trump administration now positioning itself as a defender of crypto against alleged banking bias. Cases like JPMorgan closing accounts of crypto executives, including Coinbase’s Brian Armstrong and Frax Finance’s Sam Kazemian, have fueled calls for reform. Banks cite anti-money laundering risks, but critics argue they oppose crypto’s decentralized nature, which challenges traditional banking control. Meanwhile, the UK recently banned a Coinbase ad criticizing its financial system.
about US Banks Face Fines for Dropping Crypto Clients Under New OrderSam Kazemian
0 posts last weekJPMorgan Files ‘JPMD’ Trademark for Digital Asset Services
JPMorgan Chase has filed a trademark application for ‘JPMD,’ covering services related to virtual currencies, digital tokens, and blockchain-based payments. The filing includes electronic fund transfers, token trading, and custody services, hinting at a potential stablecoin initiative. This follows reports of major US banks, including JPMorgan, discussing a joint stablecoin project to compete with crypto-native issuers. Additionally, JPMorgan has begun accepting Bitcoin ETFs as loan collateral and incorporating digital assets into client net worth calculations. The bank’s moves reflect a growing institutional embrace of crypto, particularly stablecoins, which saw $4 trillion in May transaction volume. Other financial giants like Bank of America and DTCC are also pursuing stablecoin projects, underscoring the sector’s rising importance.
about JPMorgan Files 'JPMD' Trademark for Digital Asset ServicesYieldNest Launches YND Token for Decentralized Governance
YieldNest is set to launch its governance token, YND, on June 3, 2025, as part of its transition to decentralized governance. The YND token will enable community voting on protocol decisions, including yield strategies and token buybacks. A significant portion (40%) of the incentives pool will be distributed via an airdrop to early supporters. The protocol will leverage Aragon’s infrastructure for governance, ensuring a user-friendly experience. Additionally, YND holders can stake tokens for governance power or opt for Stake DAO’s Liquid Locker for simplified participation. YieldNest’s MAX Liquid Restaking Tokens (LRTs), such as ynETHx and ynBNBx, have already gained traction, offering optimized yields. The protocol, with over $500M in TVL, plans to expand into stablecoin and Bitcoin-based LRTs, as well as Real-World Asset (RWA) products like ynRWAx. Backed by prominent DeFi figures and VCs, YieldNest aims to become a leading structured asset layer in on-chain finance.
about YieldNest Launches YND Token for Decentralized GovernanceUS Banks Challenge Tether with Joint Stablecoin Initiative
Leading US banks—JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo—are collaborating on a stablecoin project, challenging Tether (USDT) and Circle (USDC), which currently control 87% of the $245.9B market. Industry experts suggest this reflects a broader institutional shift toward crypto-native financial tools, with stablecoins becoming critical for liquidity and cross-border transactions. While Tether’s CEO welcomed the competition, analysts speculate that Circle could face pressure as banks leverage their regulatory and infrastructural advantages. The development coincides with Circle exploring strategic options, including a potential IPO or acquisition.
about US Banks Challenge Tether with Joint Stablecoin InitiativeBlackRock BUIDL Fund Partners with Frax Finance for New Stablecoin Launch
BlackRock’s BUIDL fund has partnered with Frax Finance to support the launch of the frxUSD stablecoin, which will utilize BUIDL as a primary reserve asset. This collaboration enhances the stablecoin’s fiat redemption capabilities and regulatory compliance, while promoting transparency through on-chain transactions. With over $400 million under management, BUIDL is expanding its influence across various blockchains, positioning itself as a leader in tokenized real-world assets.
about BlackRock BUIDL Fund Partners with Frax Finance for New Stablecoin LaunchCarvana Faces Bankruptcy Concerns Amid Hindenburg Research Allegations
Frax Finance has launched frxUSD, a rebranded stablecoin that emphasizes transparency and compliance with U.S. financial systems, leveraging BlackRock’s USD Institutional Digital Liquidity Fund through a partnership with Securitize. This stablecoin will be backed by cash, U.S. Treasury bills, and repurchase agreements, offering seamless fiat on/off-ramping capabilities. The collaboration aims to bridge traditional finance and decentralized finance, showcasing the potential for institutional-grade investments on-chain.
about Carvana Faces Bankruptcy Concerns Amid Hindenburg Research AllegationsFrax Community Approves frxUSD Stablecoin Backed by BlackRock’s BUIDL Fund
The Frax community has unanimously approved the use of BlackRock’s Institutional Digital Liquidity Fund (BUIDL) as collateral for the frxUSD stablecoin, enhancing its yield-bearing potential while minimizing counterparty risk. This collaboration aims to merge blockchain technology with the stability of traditional finance, marking a significant step in the evolution of yield-bearing stablecoins. The frxUSD will be pegged to the US dollar and backed by US government securities, reflecting a growing trend towards financial products that offer rewards to holders.
about Frax Community Approves frxUSD Stablecoin Backed by BlackRock's BUIDL Fund