Everything web3, crypto, defi, degen
In brief Burger restaurant Steak ‘n Shake has launched a Bitcoin Steakburger with the BTC logo stamped on the bun. The burger rollout celebrates five months of the restaurant accepting BTC payments. Same-store sales have increased in each of the last two quarters, some of which the brand attributes to the Bitcoin community. Burger restaurant…
In brief The Financial Stability Board’s review of nearly 40 jurisdictions found “significant gaps and inconsistencies” in crypto regulations that threaten financial stability. A separate European Banking Authority report revealed crypto firms engaging in regulatory “forum shopping” across EU member states. Cross-border cooperation remains “fragmented, inconsistent, and insufficient,” with authorities struggling to share information due…
In brief Crypto exchange Kraken has purchased U.S. contract market Small Exchange for $100 million from British finance group IG. The deal gives Kraken a license to offer derivatives trading in the U.S. for the first time. Kraken opened up futures trading for U.S. customers in July, amid positive regulatory changes in the U.S. Kraken,…
In brief Advertising firm Thumzup is considering adding DOGE as a reward payment alternative in its mobile app. Currently, users can earn cash for providing content about advertiser’s products. Initial assessments show integrating DOGE may lower costs and add value to the rewards pool. Publicly traded digital asset treasury and advertising firm Thumzup Media is…
In brief Shares in Ethereum treasury firm ETHZilla fell more than 5% after it announced a reverse 1-for-10 stock split. Outstanding shares will shrink from around 160 million to 16 million when the split is effective next week. ETHZilla holds around 102,000 ETH valued above $400 million. Shares in publicly traded Ethereum treasury firm ETHZilla…
In brief Erebor became the first crypto bank to win a conditional federal charter under the Trump administration, and only the second ever after Anchorage Digital. Backed by Palmer Luckey and the firms of Joe Lonsdale and Peter Thiel, Erebor will soon likely join Anchorage in having certain advantages regarding the issuance of stablecoins under…
In brief Sony Bank’s subsidiary Connectia Trust has filed for a national banking charter to issue dollar-pegged stablecoins, maintain reserve assets, and offer digital asset custody and management services. The application joins a growing list of crypto firms seeking OCC charters, including Stripe, Coinbase, Paxos, and Circle. Sony Bank is part of Sony Group’s diverse…
In brief The U.S. seized $14.4 billion in Bitcoin from the alleged head of a global crypto scam network on Tuesday, in the DOJ’s largest-ever crypto seizure. Prosecutors are seeking to claim the funds through criminal forfeiture, raising questions about whether the Bitcoin will go to victims or be added to a national strategic Bitcoin…
In brief Joe Moglia, former TD Ameritrade chairman and current chair of Ethereum treasury FG Nexus, says every stock, option, mutual fund, and ETF will be tokenized within five years. FG Nexus is also exploring the tokenization of its reinsurance company’s risk exposure. Industry experts say the timeline is plausible, even with infrastructure challenges including…
In brief Bitcoin and Ethereum have stabilized after recent volatility, with BTC trading above $112,000 and ETH near $4,100. The two-week U.S. government shutdown has delayed key economic data releases, including the September CPI report now rescheduled for October 24. Despite data delays, Fed Chair Powell indicated the committee still has enough information to proceed…
