Everything web3, crypto, defi, degen
In brief A federal appeals court affirmed the Fed’s ability to deny crypto bank Custodia a master account. Custodia had argued the Fed had no choice but to award a master account to eligible banks. The Fed said it could deny Custodia an account based on the risk posed by crypto activity. Custodia said it…
In brief Federal Reserve Governor Christopher Waller proposed offering “skinny” master accounts to innovation-focused banks, granting them qualified access to Fed payment systems. These accounts would speed up access to the Fed’s services for crypto banks, but exclude benefits like earning interest or overdraft privileges. They could also include balance caps to manage risk. The…
In brief Venezuelan opposition leader María Corina Machado won the Nobel Peace Prize on Friday. Machado last year spoke about how Bitcoin has been used in Venezuela as a tool to fight autocracy. Bitcoiners praised Machado following news of her win. The 2025 Nobel Peace Prize winner, Venezuelan opposition leader María Corina Machado, appears to…
In brief The Roughrider Coin is scheduled to launch in 2026. The stablecoin is built on the FIUSD platform and backed by U.S. dollars. The announcement follows Wyoming’s Frontier Stable Token debut in August. The Bank of North Dakota and financial technology firm Fiserv announced Wednesday that they will launch Roughrider Coin, a U.S. dollar-backed…
In brief Kentucky Senator Brandon Smith faces two lawsuits over his Bitcoin mining repair company Mohawk Energy, including claims of misrepresentation and breach of contract. Smith, who authored Kentucky’s 2021 crypto mining tax incentive bill, denies all allegations and has filed counterclaims against both plaintiffs. The legal troubles highlight growing pains in the U.S. crypto…
In brief New York City’s ‘Bitcoin Mayor’ Eric Adams has dropped out of the race for re-election. Adams had publicly tied his image to crypto, from Bitcoin paychecks to calls for BitLicense reform, and many other initiatives. His withdrawal follows legal troubles and questions about whether crypto can anchor political identity. Eric Adams, mayor of…
In brief LayerZero extended PYUSD’s presence to nine additional blockchains. PYUSD0 tokens represent a bridged version of PayPal’s stablecoin. The stablecoin had a market capitalization of $1.3 billion on Thursday. PayPal’s PYUSD stablecoin expanded to nine new blockchains on Thursday after LayerZero, an interoperability protocol, unveiled additional support for the token in a blog post.The…
In brief The U.S. economy added just 22,000 jobs in August. That locks in rate cuts in the coming months, according to Grayscale’s Zach Pandl. A labor snapshot like Friday’s would typically provoke recession fears, he said. The price of Bitcoin and other cryptocurrencies seesawed on Friday as investors weighed a weaker-than-expected jobs report against…
In brief The Federal Reserve has left the interest rate unchanged at its last five meetings. In a speech at an annual gathering in Jackson Hole, Wyoming, Powell said that conditions had changed. The Fed meets again in September. The price of Bitcoin and other cryptocurrencies rose on Friday after Federal Reserve Chairman Jerome Powell…
In brief The DOJ announced it will no longer charge decentralized software developers under the same law used to convict Tornado Cash co-founder Roman Storm earlier this month. DOJ official Matthew Galeotti clarified that prosecutors will avoid such charges when software is truly decentralized and non-custodial, though other charges could still apply if criminal intent…
