Latin American fintech Nubank has secured conditional approval from the US Office of the Comptroller of the Currency (OCC) to establish a national bank. This milestone allows the company to expand regulated banking services—including deposits, lending, credit cards, and digital asset custody—within the United States. Bank Organization Phase and Leadership With conditional approval, Nubank enters the bank organization phase, during which it must satisfy capitalization and supervisory requirements and obtain further approvals from the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) before officially launching. The new US bank will be led by co-founder Cristina Junqueira, with former Central…
Author: Blockto Team
Prominent figures from the crypto and venture capital sectors are committing significant financial resources to reshape California’s political landscape. Ripple co-founder Chris Larsen and venture capitalist Tim Draper are backing a new initiative known as Grow California, which aims to support moderate, business-oriented legislative candidates and counter the influence of labor unions in state politics. The initiative has gained momentum amid growing opposition to a proposed California wealth tax that would target the state’s highest-net-worth residents. The proposal, supported by a major healthcare union, has become a central issue for donors concerned about long-term economic competitiveness, even though Grow California…
Bitcoin has dropped out of the world’s top 10 investable assets after a wave of leveraged liquidations erased hundreds of billions in value. The sharp correction highlights ongoing volatility in cryptocurrency markets and signals challenges for Bitcoin’s resilience amid macroeconomic and market pressures. Market Capitalization Decline Bitcoin’s price has fallen to around $83,000 per coin, reducing its market capitalization to approximately $1.65 trillion. This places it 11th globally, just behind Saudi Aramco and Taiwan Semiconductor Manufacturing Co. The cryptocurrency had briefly reached a market cap near $2.5 trillion in October, when prices peaked above $126,000. The recent sell-off was driven…
Investors withdrew approximately $1.82 billion from U.S.-based spot Bitcoin and Ether exchange-traded funds over the past five trading days, reflecting weakening sentiment across digital asset markets. Spot Bitcoin ETFs accounted for $1.49 billion in net outflows, while spot Ether ETFs recorded $327 million in withdrawals, according to Farside. data. The outflows coincided with continued price declines. Over the past week, Bitcoin fell 6.5% to around $83,400, while Ether dropped nearly 9% to approximately $2,685. Bitcoin remains down more than 5% over the past 30 days despite a brief mid-January rally tied to regulatory speculation. Precious Metals Surge Shifts Capital Allocation Capital…
Hong Kong regulators are preparing to advance a comprehensive regulatory framework for digital assets, with plans to submit a draft bill to lawmakers in 2026. The move signals the city’s continued effort to position itself as a regulated hub for cryptocurrency activity while strengthening oversight, licensing, and tax compliance. Draft Ordinance for Crypto Services Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury, said financial authorities are working toward a draft ordinance covering digital asset activities. The proposed framework is expected to focus on regulation of crypto advisory service providers and related market participants. Hui noted that regulators…
Recent discussions around a possible merger involving SpaceX, Tesla, or Elon Musk’s artificial intelligence venture xAI have drawn attention to a significant but often overlooked factor: their combined bitcoin holdings. Together, SpaceX and Tesla control close to 20,000 BTC, positioning the group among the world’s largest corporate holders of the digital asset. Corporate Bitcoin Holdings Under One Structure Based on public disclosures, SpaceX holds approximately 8,285 bitcoin, accumulated since early 2021. Tesla, a publicly listed company, holds around 11,509 bitcoin and reported no change to that balance in its most recent quarterly filing. At current market prices, the combined value…
Tensions between the traditional banking sector and the cryptocurrency industry surfaced publicly at the World Economic Forum in Davos, where Coinbase CEO Brian Armstrong and JPMorgan Chase CEO Jamie Dimon reportedly clashed over a proposed US crypto market structure bill. The dispute highlights growing divisions over how digital assets should be regulated within the existing financial system. Dispute Over Banking Influence and Stablecoin Rules According to reports, the confrontation occurred during an informal meeting when Dimon challenged Armstrong’s public comments accusing banks of attempting to undermine the legislation. Armstrong has argued that excluding stablecoin rewards from the bill would unfairly…
Crypto analytics platform Santiment highlighted that the extreme negativity currently dominating social media may signal a potential market rebound. The Crypto Fear & Greed Index recorded an “Extreme Fear” score of 20 on Saturday, up slightly from 16 on Friday the lowest level in 2026 and a threshold last seen on December 19. The index had returned to “Extreme Fear” after spending most of January in the “Fear” zone. Historical Trends Suggest Reversal Opportunities According to Santiment, crypto markets often move opposite to crowd expectations. When sentiment is heavily bearish, it can create conditions for a rebound. The platform noted…
Gold prices fell sharply on Friday, dropping more than 8% toward the $4,900 per ounce level, as investors locked in profits following a historic rally. The decline came just one day after bullion surged to an all-time high of $5,608 per ounce, marking one of the strongest moves in decades for the precious metal. Despite the steep pullback, gold remains on track for a sixth consecutive monthly gain and its strongest monthly performance since the 1980s. The rally has been driven by a combination of global economic uncertainty, ongoing geopolitical tensions, and sustained weakness in the US dollar. These factors…
Former Binance CEO Changpeng “CZ” Zhao has rejected claims that the world’s largest crypto exchange played a role in amplifying October’s historic market crash, which triggered an estimated $19 billion in forced liquidations. The sell-off, one of the largest on record, continues to influence market sentiment months later. CZ Responds to Liquidation Allegations During a recent question-and-answer session on Binance-linked social media channel Bloomberg, Zhao dismissed accusations that Binance caused or worsened the Oct. 10 liquidation event. He described the claims as “far-fetched” and said calls for Binance to compensate losses across the market were unfounded. Zhao emphasized that he…