Payments company Wise says it will revisit its application strategy with the US Office of the Comptroller of the Currency (OCC) after the regulator rejected its push to become a national trust bank. In a notice issued Thursday, Wise said it intends to reapply under a GENIUS Act framework—US legislation designed to create a regulated pathway for payment stablecoin activities. The shift matters because Wise’s original charter plan has now been explicitly denied, and the GENIUS Act is meant to offer clarity for stablecoin issuers and payment providers once regulators finalize the rules. Wise’s next steps will therefore be closely watched by other fintechs weighing stablecoin-related business models in the US. Key takeaways Wise was rejected by the OCC for a national trust bank charter tied to its use of stablecoin-related rails. The company plans to submit a new OCC application using a “GENIUS Act framework,” according to its Thursday notice. William Blair said Wise is likely to re...

Layer-1 blockchain Dango has announced it will wind down operations, with trading on its perpetual decentralized exchange (DEX) set to stop on Wednesday and the network shutting down on Aug. 13. In an X post, the team said the decision follows a conclusion that there is “no viable path to a lasting commercial success,” citing a mix of operational and external headwinds. Founder Larry Liu added that cash shortages, legal issues that slowed progress, staff losses, and broader market conditions all contributed to the outcome. Key takeaways Dango will halt perpetual DEX trading on Wednesday and complete a network shutdown on Aug. 13. The team attributed the closure to lack of a sustainable path to commercial success, including cash constraints and legal delays. After launching its perpetual DEX in April, Dango suffered a roughly $410,000 exploit shortly after release; the attacker later returned funds in a bug-bounty arrangement. Competition in perp trading remains intense: DefiLla...

US-listed spot Ethereum exchange-traded funds (ETFs) pulled back after a run of steady demand, recording $70.62 million in net outflows on Friday and ending a five-day inflow streak. SoSoValue data shows US Ether funds brought in $211.25 million over the prior five sessions from July 17 through Thursday. Despite Friday’s reversal, the funds also logged $103.9 million in net inflows for the week ended Friday. Overall, Ethereum spot ETFs have now extended their weekly inflow streak to three straight weeks and have attracted $337.74 million in net inflows so far in July. Key takeaways Ethereum spot ETFs saw $70.62 million in net outflows on Friday after five consecutive inflow sessions. SoSoValue reports $211.25 million of net inflows from July 17 through Thursday, with $103.9 million added for the week ended Friday. ETH ETFs still maintain a three-week weekly inflow streak and have pulled in $337.74 million net so far in July. Bitcoin spot ETFs followed a similar pattern, ending ...

The European Union is tightening crypto-related sanctions tied to Belarus, effectively barring Belarusian nationals and residents from taking controlling roles in certain EU-regulated crypto businesses. The restriction will apply to crypto exchange and custody-related providers that fall under the EU’s Markets in Crypto-Assets (MiCA) framework, starting Aug. 25. The change is contained in Council Decision (CFSP) 2026/1847, adopted Thursday. According to the text, the decision amends the EU’s existing sanctions structure targeting Belarus over its involvement in Russia’s war against Ukraine, broadening an earlier limitation that had been limited to wallet, account, or custody services. Key takeaways Belarusian nationals and residents will be prohibited from owning, controlling, or managing certain MiCA-regulated EU crypto service providers starting Aug. 25. The update in Council Decision (CFSP) 2026/1847 expands the scope beyond prior restrictions that covered only wallet/account/cu...

Poolin, the Singapore-based Bitcoin mining pool operator, and two US affiliates have filed for Chapter 11 bankruptcy in New Jersey, according to a court filing reviewed via PACER Monitor. The move arrives as mining businesses continue to grapple with cost pressures—particularly electricity—while some operators look for new revenue streams beyond block production. Alongside the restructuring process, Poolin is asking the court for permission to sell two West Texas mining sites to Thor CALAP LLC through a proposed stalking-horse bid valued at $52 million. A court-supervised auction would follow, with a bid deadline set for Sept. 8 under the proposed procedures. Key takeaways Poolin and two US affiliates filed for Chapter 11 bankruptcy in New Jersey, with liabilities estimated between $100 million and $500 million. The company is pursuing a $52 million stalking-horse sale of two West Texas mining sites to Thor CALAP LLC. Under the proposed terms, $37 million would cover Tarbush asse...

Ripple has rolled out Ripple Mint , a new institutional platform designed to make it easier for regulated organizations to interact with the company’s US dollar-pegged stablecoin, Ripple USD (RLUSD) . The release centers on a single workflow layer for tasks like minting, redeeming, and managing RLUSD—either through a web interface or through direct API integrations. Ripple Mint was announced on Thursday, with the company presenting the product as a “unified platform” that can support both manual operations and automated connections. The emphasis reflects a broader shift in stablecoin adoption: beyond experimentation, more institutions are seeking stablecoin rails for payments, trading execution, and treasury functions. Key takeaways Ripple Mint is intended to streamline institutional access to RLUSD for minting, redemption, and ongoing management. The platform supports access via web workflows as well as API integrations for automation. Ripple launched RLUSD in December 2024...