The chief executive of banking giant Morgan Stanley reportedly says the firm is willing to work with US regulators on crypto offerings. According to a new report by CNBC, Morgan Stanley CEO Ted Pick is collaborating with regulatory agencies to see if it can further venture into the digital assets industry. As stated by Pick to CNBC at the World Economic Forum, “For us, the equation is really [about] whether we, as a highly regulated financial institution, can act as transactors. We’ll be working with Treasury and the other regulators to figure out how we can offer that in a safe way.” The report says that under the Biden Administration, banks were barred from physically owning Bitcoin ( BTC ) and could only dabble in derivatives. The CEOs of two massive banking institutions – Goldman Sachs and Bank of America – have already expressed interest in investing in the top crypto asset by market cap. Bank of America CEO Brian Moynihan told CNBC that the firm is waiting for regulatory clearance to fully embrace crypto assets and blockchain technology. “If the rules come in and make it a real thing that you can actually do business with, you’ll find that the banking system will come in hard. We have hundreds of patents on blockchain already, we know how to enter the field.” Earlier this year, former U.S. Securities and Exchange Commission (SEC) chief John Reed Stark said that by allowing its broker to pitch BTC-based exchange-traded funds (ETFs) to clients, it opened itself up to “the largest SEC and FINRA examination sweep in history.” Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Featured Image: Shutterstock/Salamahin/korkeng The post Morgan Stanley CEO Says the Financial Giant Will Collaborate With US Regulators on Crypto Offerings: Report appeared first on The Daily Hodl .
In a startling twist, Ivanka Trump has publicly distanced herself from an unauthorized meme coin, $IVANKA, which has sparked outrage and confusion among investors. This controversy comes on the heels
Institutional demand for high-yield Bitcoin funds is growing following the successful launch of BTC ETFs.
The Donald Trump administration’s imminent adoption of the strategic Bitcoin reserve has regained momentum, driven by Senator Cynthia Lummis’ new role in the Senate’s Digital Assets Subcommittee. Experts like Binance founder Changpeng Zhao believe that Senator Lummis’ appointment to the crypto committee is a significant step towards establishing a strategic Bitcoin reserve in the US. Notably, Trump’s vow to make America the crypto capital and Senator Lummis’ new position have sparked optimism in the community. Despite the lack of an official confirmation, experts remain confident that a Bitcoin reserve plan is on the horizon. Binance CEO Confirms the Strategic Bitcoin Reserve In his recent X post , Binance Founder Changpeng Zhao expressed his confidence in the impending strategic Bitcoin reserve. His X post read, “US Strategic Bitcoin Reserve, pretty much confirmed.” With a touch of humor, he noted that “crypto is moving at crypto speed again,” emphasizing the sector’s further growth.” The Binance founder’s comments came on the heels of Senator Cynthia Lummis’ designation to lead the Senate’s Digital Assets Subcommittee. While the Senator remains a key advocate for crypto, her appointment signals promising future developments in the sector. Senator Lummis’ post “There is a BIG lift ahead” further fuels the community’s optimism. US Bitcoin Adoption On the Horizon, Say Experts Uplifted by the Senator’s news, Dennis Porter, the CEO and co-founder of Satoshi Action Fund, stated, “This is a huge step forward for the Senator’s ability to move meaningful legislation forward, including the Strategic Bitcoin Reserve!” HUGE: Senator Lummis has just been appointed chair of the Senate’s new Digital Asset Subcommittee. This is a huge step forward for the Senator’s ability to move meaningful legislation forward, including the Strategic Bitcoin Reserve! pic.twitter.com/QTKhueAdEl — Dennis Porter (@Dennis_Porter_) January 23, 2025 Moreover, the official X page of The Bitcoin Conference asserted that Senator Cynthia Lummis is effectively putting effort into approving the strategic Bitcoin reserve bill immediately. Donald Trump’s Vow to Turn US into Crypto Capital Recently, Trump reiterated his commitment to transforming the United States into a crypto capital. Though his initial silence following his inauguration sparked anxiety, the recent development invigorated the crowd. However, as the official announcement hasn’t been released, the Bitcoin reserve plan remains uncertain. The community is eagerly awaiting Trump and Senator Lummis’ further actions to adopt the BTC reserve. The post Strategic Bitcoin Reserve: CZ Expresses Optimism Following Lummis’ Appointment appeared first on CoinGape .
Payments remain the big unsolved use case of the internet. When we buy something online, we generally use a traditional payment method, like a credit card, which isn’t “native” to the experience. Your ability to transact with a merchant is verified by a third-party (like a bank), which raises costs and adds a lot of inconvenience for buyers and sellers. Despite the huge growth of commerce online in the last three decades, most transactions occur outside of the browser. Marc Andreessen, who created Netscape, has referred to this as the internet’s “original sin.” “One would think it was the most obvious thing to do to build into the browser the ability to spend money, but you may have noticed that didn’t happen,” he said in 2019 . “I think the original sin was that we couldn’t actually build economics, which is to say money, at the core of the internet.” This matters because the cost is massive and borne by all of us. Economists have calculated the total cost of retail payments in the United States at as much as 2% of GDP, which is almost as much as the U.S. defense budget. Merchants frequently cite the cost of processing credit cards as some of their highest operating expenses, which is why many will ask you to pay additional charges to use a card in a store, or place a minimum on the amount one should spend. The United States, for all its ingenuity, has some of the highest social cost of payments in the developed world, numerous studies show . We tend to forget that bitcoin was first proposed by Satoshi Nakamoto as a “peer-to-peer electronic cash system” because a lot of crypto today isn’t focused on this use case. But maybe the next iteration of crypto development will help fix that. That’s certainly the hope of Tyler Spalding, the founder of an Anvil , a new decentralized finance (DeFi) protocol that reconceptualizes credit, which is the basis of all monetary systems. How it works Anvil is a system of Ethereum smart contracts that manages collateral and secures credit. It lets individuals and companies create letters of credit (LOCs) in lieu of traditional forms of money. You use it by locking up ether or USDC in the Anvil vault and receive an LOC for the specified amount. In effect, the system is a lot like a bank check that’s cashed against your account, except there’s no paper, delays or worries about whether the money will clear. Spalding sees Anvil as a new form of money collateralized with crypto. “By issuing transparent and generalizable credit, Anvil provides sustainable liquidity — essentially creating trusted money for the global economic system,” he said. “Permissionless decentralized technologies can transform how collateral is managed by making the process more secure and more transparent.” At the protocol level, there are no fees to transact with Anvil, Spalding said, and the technology is open-source. It’s community owned with 60% of the governance token distribution to partners and users, who can vote on operational matters. Spalding, who previously co-founded Flexa , a blockchain-based payments network, sees use cases for Anvil in traditional loans, DeFi counterparty credit (for exchanges or liquidity providers), asset bridging and payments. Three partners have indicated they want to build services using the protocol: Amdax , a digital asset trading and custody provider; Empowermint , which provides retail cash loans; and Flexa , which is using the protocol for asset collateralization against payments on its network. Because Anvil is open-source, these partners use the protocol freely, building their own services. Anvil has no investors. The protocol was bootstrapped by Spalding and his collaborators over two years of development. Its systems were audited by Open Zeppelin and Trail of Bits, and Immunefi organized two bug bounty programs to find flaws needing to be fixed. Spalding feels comfortable that the system is safe for its ambitious aim of disintermediating banks from the payments and traditional credit-issuing process. “We’ve been doing it a long time. We love this stuff,” Spalding said of his goal of bringing native payments to the internet and atoning for Andreessen’s original sin. “We want to get other people to get to use this. It’s a real-world use case. That’s the only thing that matters to me.”
Donald Trump's TRUMP token is down Thursday as daughter Ivanka takes aim at an unofficial Solana meme coin named after her.
Stablecoin issuer Circle has introduced a new feature called Circle Paymaster, enabling users to pay gas fees using the USDC stablecoin. The USDC ( USDC ) issuer said in an announcement that the on-chain utility solution Circle Paymaster was now live on Arbitrum and Base, two leading Ethereum ( ETH ) layer-2 solutions. With this product, users on the L2s can now use USDC rather than ETH when paying for transaction fees. In the crypto market, blockchain users need transaction fees often paid via a chain’s native token. This gas fees requirement has typically meant users must hold tokens such as Ether and others on-chain, with transaction failures likely when one has no funds to cover gas fees. Paymaster removes this challenge by allowing users to pay with USDC, removing the need for one to have the required native token. The feature is permissionless and composable, which means developers can work with any wallet compatible with the ERC-4337 token standard. You might also like: Sonic integrates Circle’s bridged USDC Circle’s launch of Paymaster adds to the company’s Gas Station offering. While Paymaster users utilize their USDC to pay for gas fees, Gas Station allows developers to pay for gas costs for users. Developers who sign up for the Gas Station feature offer a gasless experience for users across their decentralized applications. Gas Station works with Circle’s programmable wallets and requires developers to create a Circle Console account. Circle will expand access to Paymaster beyond Arbitrum and Base in coming months, with additional networks including Ethereum, Solana and Polygon PoS. Transaction charges across Paymaster will be 10% of gas fees per transaction. However, Circle is waiving this charge until June 30, 2025 to incentivize adoption. You might also like: Circle acquires Hashnote in tokenization expansion
Justin Sun comments on Trump's $10 million investment in Wrapped Bitcoin. Sun criticizes Coinbase's lack of a Proof of Reserves system. Continue Reading: Justin Sun Shares Insights on Donald Trump’s Bitcoin Investments The post Justin Sun Shares Insights on Donald Trump’s Bitcoin Investments appeared first on COINTURK NEWS .
The virtual speech to the World Economic Forum reiterated Donald Trump’s pledge to an audience at a July 2024 Bitcoin conference.
The post Bitcoin to Mars? Michael Saylor Fuels Bullish Hype for BTC appeared first on Coinpedia Fintech News Michael Saylor, the CEO and Chairman of MicroStrategy (MSTR), made a cryptic post on X (formerly Twitter) that is making waves in the cryptocurrency industry. In his recent post, he stated, “We are going to Mars.” Michael Saylor’s Cryptic Post on X This post on X has reached more than half a million of his fans, who see it as a sign of bullishness for Bitcoin (BTC). However, the post comes ahead of pro-crypto Senator Cynthia Lummis becoming the Chair of the Senate Banking Subcommittee on Digital Assets, which partially confirms the Bitcoin reserve. Political Developments and Bitcoin Adoption However, later, he published another post, sharing a video of pro-crypto Donald Trump, in which Trump stated that the United States will be the world capital of crypto. The United States will be the world capital of Crypto. pic.twitter.com/RCQ5egTBDJ — Michael Saylor (@saylor) January 23, 2025 Looking at these latest updates and the powerful words from industry giants, it appears that BTC could soon skyrocket. However, it currently seems to be struggling. Saylor is not the only one who seems bullish on Bitcoin. Earlier, on January 22, 2024, Larry Fink , the CEO of the asset management giant BlackRock, stated in an interview that BTC could reach $500k, $600k, or even $700k in the future. Apart from these individuals from major firms, countries across the globe currently seem to be showing interest in Bitcoin reserves. $419 Million of Bitcoin (BTC) outflow This bullish outlook has started attracting investors and long-term holders, as reported by the on-chain analytics firm Coinglass. Data from spot inflow/outflow revealed that exchanges have witnessed a significant outflow of $419.50 million worth of BTC in the past 48 hours. Source: Coinglass Such a significant outflow from exchanges indicates potential accumulation, which could create buying pressure and drive further upside momentum. Bitcoin is currently trading near $105,260 and has experienced an upward momentum of over 1.5% in the past 24 hours. During the same period, its trading volume surged by 50%, indicating strong and heightened participation from investors and traders.