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Fed Chair Jerome Powell says that US banks are free to engage in crypto activities, giving them the green light to enter the world of cryptocurrency. The declaration is a huge one for the crypto industry, which has thrived in 2025 in a United States that has become more pro-crypto on a federal level. The Federal Reserve Chair emphasized that while the banks are free to engage with crypto, they must do so in a safe and responsible way, with proper protections for customers and the financial system. JUST IN: Federal Reserve Chair Jerome Powell says "banks are free to conduct crypto activities." pic.twitter.com/gCGvwdTh7l — Watcher.Guru (@WatcherGuru) June 24, 2025 Back in February, Powell said that the Federal Reserve would not block banks from serving legal crypto customers. He proclaimed that the Fed would no longer get in the way of crypto banking and permitted banks to serve cryptocurrency customers. Now the Fed Chair is given a further green light for Banks to not only s...

The Spring Development Bank is Myanmar’s first financial institution to run entirely on crypto and blockchain. Myanmar’s first entirely crypto - based banking institution has announced a soft launch for July 22 — a move that could see the country’s shadow government given greater access to financial services and funding. The Spring Development Bank is named after the Spring Revolution, the opposition movement led by Myanmar’s exiled National Unity Government (NUG) against the ruling State Administration Council (SAC) — a military junta that seized control of the country in February 2021. The bank’s target demographic isn’t just the 55 million Burmese living in Myanmar, but also the two-million-strong “Burmese diaspora”, who live and work outside of Myanmar and frequently send money back to the country. Constructed on Polygon, the bank’s main goal is to make both domestic and international payments faster and more efficient, as well as offer international access to a broad array of...

NongHyup Bank revealed that the leading banks in South Korea, including Industrial Bank of Korea, Shinhan Bank, and Woori Bank, have joined its consortium for security token offerings. The consortium has also witnessed the participation of other financial technology companies such as Funble, Trackchain (a subsidiary of Aton), and Artipio (a fractional art investment subsidiary of Yes24), bringing the total number of participants to 18 firms. STO market reaches $26 billion NongHyup Bank, along with Suhyup Bank, Jeonbuk Bank, and six fractional investment firms, established a consortium in April to develop a security token ecosystem, as reported by The Korea Herald. With the STO market predicted to reach 34 trillion won ($26.6 billion) in size next year, banking groups are increasingly showing interest, particularly due to the Financial Services Commission’s plans to ease regulations later this year.  You might also like: Celsius users will be allowed to swap altcoins f...

In an RBI-organized conference for the directors of Indian banks, deputy governor Mahesh Kumar Jain discussed risk strategies around sustainable growth and stability. A top federal official representing India's central bank, the Reserve Bank of India (RBI), recommended all banks adopt artificial intelligence (AI) and blockchain technology to ensure sustainable growth and stability. In an RBI-organized conference for the directors of Indian banks, deputy governor Mahesh Kumar Jain discussed risk strategies around sustainable growth and stability. Governance in Banks: Driving Sustainable Growth and Stability - Speech delivered by Shri M K Jain, Deputy Governor, Reserve Bank of India at the Conference of Directors of Banks organised by the RBIhttps://t.co/Ft4Kv68X0T — ReserveBankOfIndia (@RBI) May 31, 2023 Jain spoke about the importance of effective corporate governance and governance structure and processes when it comes to staying prepare d for future risks. Technological disr...

American venture capital investor Tim Draper warned business founders to prepare for "more and more" bank failures if the government continues to "print money and whipsaw interest rates." American venture capital investor and entrepreneur Tim Draper advised founders to keep at least two payrolls worth of cash in Bitcoin (BTC) or alternative cryptocurrencies,in response to the uncertainty created by the collapse of Silicon Valley Bank (SVB). In a March 25 report directed at business founders, Tim Draper stated that Bitcoin is a hedge against a “domino run” on the Banks and on overbearing Government intervention, adding that businesses “can no longer rely” on a single bank or governing body to manage their cash. Some tips for business cash management post SVB. https://t.co/dVEw0EJJyZ #bitcoin #trust #freedom — Tim Draper (@TimDraper) March 24, 2023 Draper suggested that business founders keep at least “6 months of short-term cash" in two separate bank accounts...

Bitcoin has decoupled from stocks and rising ten years after the Cyprus banking crisis coincided with a BTC price boom. The market capitalization of Bitcoin (BTC) has added $194 billion in 2023. Its 66% year-to-date (YTD) growth is vastly outperforming top Wall Street bank stocks, particularly as fears of a global banking crisis are rising. BTC market cap daily performance chart. Source: TradingView Moreover, Bitcoin has decoupled from U.S. Stocks for the first time in a year, with its price rising about 65% versus S&P 500's 2.5% gains and Nasdaq's 15% decline in 2023.  SPX and NDAQ YTD performance vs. BTC/USD. Source: TradingView  Wall Street banks lose $100B in 2023 The six largest U.S. banks — JPMorgan Chase (JPM), Bank of America (BAC), Citigroup (C), Wells Fargo (WFC), Morgan Stanley (MS), and Goldman Sachs (GS) — have lost nearly $100 billion in market valuation since the year's start, according to data gathered by CompaniesMarketCap.com. Bank of America's st...

Given Silicon Valley Bank’s direct involvement in destabilizing USDC prices, CZ blamed banks for increasing the risks of stablecoins. The death spiral of the Terra (LUNA) and TerraUSD (UST) ecosystem served as a catalyst to the 2022 bear market — causing losses in the millions, damaging investor sentiment and intensifying the regulatory spotlight over cryptocurrencies. However, the recent depegging of Circle’s USD Coin (USDC) led Binance CEO Changpeng ‘CZ’ Zhao to believe that traditional banks are a risk to stable coins that are usually pegged 1:1 with fiat currencies, like the US dollar. On March 11, Circle disclosed that Silicon Valley Bank (SVB) did not process its $3.3 billion withdrawal request. The crypto market responded to the revelation by selling off their USDC holdings, causing the US dollar-backed stablecoin to lose its peg. Given SVB’s direct involvement in destabilizing USDC prices, CZ blamed banks for increasing the risks of stablecoins. Banks are a risk to fiat-back...