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CFTC Updates Guidance: National Trust Banks Named Stablecoin Issuers CFTC Updates Guidance: National Trust Banks as Stablecoin Issuers CFTC Updates Guidance: National Trust Banks Now Stablecoin Issuers

The Commodity Futures Trading Commission (CFTC) has broadened the universe of entities eligible to issue payment stablecoins, expanding the scope beyond traditional banks to include national trust banks. In a reissued staff communication, the agency clarified that national trust banks — institutions that typically provide custodial services, act as executors, and manage assets on behalf of clients rather than engaging in retail lending — can issue fiat-pegged tokens under its framework. The update, formally an amended Letter 25-40 dated December 8, 2025, signals a regulatory opening for non-retail institutions to participate in the stablecoin issuance landscape while staying within the agency’s risk controls and disclosure requirements. This move sits within a broader push to bring more clarity and supervision to U.S. dollar stablecoins as lawmakers push for a comprehensive framework. The CFTC’s updated stance came alongside a wider regulatory environment shaped by the GENIUS Act, a fl...
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Erebor Secures First New US Bank Charter in Trump's Second Term

The United States has granted a nationwide banking charter to a crypto-friendly startup for the first time during President Trump’s second term, signaling a rare regulatory opening for niche lenders that straddle technology and finance. The Office of the Comptroller of the Currency confirmed Erebor Bank’s charter, allowing the lender to operate across the country and serve a market long underserved after the 2023 Silicon Valley Bank collapse, according to people familiar with the matter cited by the Wall Street Journal. Erebor begins life with about $635 million in capital and a mandate to back startups, venture-backed firms, and high-net-worth clients while pursuing a differentiated set of services tailored to cutting-edge tech sectors. The approval comes as part of a broader movement to redefine how traditional banks engage with crypto-friendly business lines, fintech models, and complex asset classes. Erebor’s launch is anchored by a roster of prominent technology investors, includi...
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Bitcoin Teeters Between CME Gaps and New Macro Lows: Analysis

Bitcoin failed to sustain a move above $69,000 as markets opened the weekend with caution, mirroring a broader hesitancy among traders about chasing new highs amid an uncertain macro backdrop. Fresh downside risk was baked into price action as BTC slipped more than $4,000 from the daily open, signaling that the rebound into the weekend may have been a relief rally rather than a durable trend reversal. Analysts point to resistance just below or at the old 2021 all-time high, around $69,000, which is seen as a formidable barrier. Meanwhile, two CME futures gaps loom on the horizon, offering potential magnets for price if demand accelerates again. Key points: Bitcoin faces a lack of acceptance above $69,000, while traders see new lows to come. Analysis says that the rebound into the weekend was nothing more than a “relief rally.” Two CME futures gaps provide potential targets for BTC price upside. BTC price bottom “not in,” analysis warns Data from TradingView showed BTC price action dro...
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What Caused Bitcoin Crash? 3 Theories Behind BTC's 40% Dip in a Month

Bitcoin (CRYPTO: BTC) has endured one of its steepest drawdowns in weeks, sinking more than 40% over the past month to a year-to-date low near $59,930 on Friday. The retreat leaves the asset roughly 50% off its October 2025 all-time high around $126,200. Market participants point to a mix of leverage, ETF-linked products, and shifting risk appetite as the accelerants behind the move. The episode has intensified scrutiny of the nexus between funding channels, hedging activity, and mining economics as liquidity tightens and option markets unwind. Key takeaways Analysts highlight Asia-linked flow dynamics—including leveraged bets tied to Bitcoin ETFs and yen funding—as potential catalysts for the sell-off. Short-term risk to miners remains elevated, with BTC hovering near the $60k mark and the possibility of renewed pressure if the level fails to hold. A widely discussed theory posits that banks could have been forced to unwind exposure to structured notes tied to spot BTC ETFs, amp...
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Swift Adds Blockchain Ledger to Enable 24/7 Cross-Border Payments

Swift has unveiled plans to integrate a blockchain-based shared ledger into its core infrastructure, marking one of the most significant evolutions of the global payments network in decades. Announced at Sibos 2025 in Frankfurt, the initiative aims to enable real-time, 24/7 cross-border payments and the regulated movement of tokenized value at global scale. The project brings together more than 30 financial institutions from 16 countries and starts with a conceptual prototype developed alongside Consensys. Rather than replacing existing rails, the ledger is designed to extend Swift’s trusted role into digital finance while preserving compliance, resilience, and operational rigor. Key takeaways Swift plans to add a blockchain-based shared ledger to support instant, always-on cross-border payments. The initiative was announced at Sibos 2025 in Frankfurt and involves over 30 global banks from 16 countries. The first use case focuses on real-time, 24/7 interbank cross-border payme...
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Tether Freezes $544M Crypto Tied to Turkish Illegal Betting Probe

Turkish prosecutors expanded a wide-ranging operation against illegal online betting and money-laundering networks, freezing more than €460 million in assets linked to a prominent suspect. The Istanbul seizure, announced last week, targeted holdings tied to Veysel Sahin, accused of operating unlawful betting platforms and channeling illicit proceeds. Officials initially declined to name the crypto firm involved, but later confirmed that Tether Holdings SA—the issuer of the USDt stablecoin—was implicated in the case. Tether’s CEO, Paolo Ardoino, said the company acted after receiving information from law enforcement, asserting that the firm “acts in respect of the laws of the country” and works with federal agencies when warranted. The move fits into a broader Turkish crackdown aimed at untangling underground gambling networks and their financial conduits. Key takeaways Turkish prosecutors seized approximately €460 million ($544 million) in assets linked to Veysel Sahin, a figure tied...
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DavosWeb3 2026 Unveils Declaration on Responsible Web3 and AI Development

Editor’s note: On the sidelines of the World Economic Forum in Davos, the second DavosWeb3 roundtable convened a small group of founders, investors, and ecosystem leaders for a focused discussion on how decentralized technologies are evolving beyond experimentation. Held at the Financial Times House, the gathering emphasized practical deployment, governance, and accountability, particularly where Web3 intersects with artificial intelligence, financial infrastructure, and digital identity. The launch of the Davos Declaration formalized this direction, outlining shared principles intended to guide the next phase of decentralized innovation. Key points The Davos Declaration outlines seven principles aimed at responsible Web3 and AI development. Speakers focused on real-world use cases such as remittances, digital identity, and institutional-grade finance. AI infrastructure, capital allocation, and decentralization were discussed through a long-term, execution-driven lens. The...
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