BTC $84,654.09 -1.77%
ETH $2,685.73 -2.37%
BNB $766.91 -1.18%
XRP $1.49 -3.48%
SOL $119.40 -2.15%
TRX $0.3355 +0.28%
DOGE $0.0927 -4.61%
ADA $0.2441 -4.63%
BCH $311.63 -1.12%
LINK $13.97 -3.19%
HYPE $87.84 -2.24%
AAVE $181.30 -0.28%
SUI $1.14 -2.04%
XLM $0.2142 -4.50%
ZEC $1,316.82 -5.11%
AAPL $333.52 +0.69%
AMZN $252.00 +0.82%
GOOGL $343.72 +0.75%
MSFT $517.23 +0.06%
META $728.30 -0.34%
NVDA $234.66 +0.56%
TSLA $370.84 +3.64%
SNDK $1,716.67 -4.56%
INTC $118.17 -3.46%
SPCX $159.13 +6.40%
MU $1,070.14 -3.46%
AMD $632.83 +1.34%
BTC $84,654.09 -1.77%
ETH $2,685.73 -2.37%
BNB $766.91 -1.18%
XRP $1.49 -3.48%
SOL $119.40 -2.15%
TRX $0.3355 +0.28%
DOGE $0.0927 -4.61%
ADA $0.2441 -4.63%
BCH $311.63 -1.12%
LINK $13.97 -3.19%
HYPE $87.84 -2.24%
AAVE $181.30 -0.28%
SUI $1.14 -2.04%
XLM $0.2142 -4.50%
ZEC $1,316.82 -5.11%
AAPL $333.52 +0.69%
AMZN $252.00 +0.82%
GOOGL $343.72 +0.75%
MSFT $517.23 +0.06%
META $728.30 -0.34%
NVDA $234.66 +0.56%
TSLA $370.84 +3.64%
SNDK $1,716.67 -4.56%
INTC $118.17 -3.46%
SPCX $159.13 +6.40%
MU $1,070.14 -3.46%
AMD $632.83 +1.34%

rst

All
Article
Flash

first_img The Bank of America group sued the OCC, accusing it of overstepping its authority by issuing trust licenses to cryptocurrency companies

The Independent Community Bankers of America (ICBA) filed a lawsuit against the Office of the Comptroller of the Currency (OCC) in federal court on Friday, accusing it of exceeding its statutory authority when issuing national trust bank charters to cryptocurrency companies. The ICBA stated that the OCC is implementing "broad new powers not authorized by the National Bank Act," allowing these companies to enter the U.S. banking system without being subject to the same level of regulatory oversight as community banks, putting small banks at a "serious competitive disadvantage."The ICBA is one of the largest banking advocacy organizations in the United States, primarily representing small institutions. Last month, the organization strongly opposed the Digital Asset Market Structure Bill, which failed to advance in the U.S. Senate, arguing that its stablecoin provisions did not protect community banks from direct competition for deposit accounts. ICBA President and CEO Rebeca Romero Rainey stated that Congress did not establish the national trust charter to provide a "backdoor" for cryptocurrency companies seeking to enter the banking system with the credibility of a federal bank charter, as these companies do not bear the same obligations regarding capital, liquidity, regulation, and Federal Deposit Insurance Corporation (FDIC) insurance requirements. An OCC spokesperson responded to CoinDesk that the agency does not comment on ongoing litigation.Recently, the OCC has continued to issue trust charters to cryptocurrency companies, but these companies' business models differ from those of typical community banks and do not offer cash deposit accounts that require FDIC insurance. Approved institutions include cryptocurrency banks Protego and Erebor, as well as existing cryptocurrency firms like Coinbase, Circle, and Crypto.com.

first_img Absa Bank in South Africa becomes the first bank in Africa to offer Bitcoin custody

According to Bloomberg, Absa Bank in Johannesburg, South Africa, has become the first bank in Africa to offer Bitcoin custody services, primarily targeting institutional clients, and will also provide custody services for other digital assets. Rob Downes, the head of digital assets at Absa's Corporate and Investment Banking division, stated that Bitcoin is the largest asset under custody at the bank, with plans to include more asset classes in the future. Absa did not immediately respond to Bitcoin Magazine's request for comment.Many banks around the world are gradually integrating or launching Bitcoin-related products and services. Some banks in the United States and Europe have begun offering crypto asset custody for institutional clients. In 2022, BNY Mellon became the first large bank in the United States to offer digital asset custody services; this month, Deutsche Bank announced plans to launch Bitcoin custody services for European businesses and institutional clients later in 2026.Africa has a large base of crypto-native users. A report by Chainalysis in 2025 shows that South Africa's on-chain value reached $36 billion, ranking second in Sub-Saharan Africa, only behind Nigeria's $92.1 billion; South Africa ranks 30th in the global crypto adoption index. Unlike Nigeria, the South African market is characterized by more institutional features, with a relatively clear regulatory framework that has issued hundreds of licenses to virtual asset service providers, attracting professional investors and traditional financial institutions.

Micron Technology CFO: Revenue for the first fiscal quarter of fiscal year 2027 will reach 61.5 billion USD

Micron Technology (MU.O) Chief Financial Officer Mark Murphy stated during the earnings call that revenue for the first quarter of fiscal year 2027 will reach $61.5 billion, with earnings per share of $38.15, continuing to rise quarter-over-quarter, and clearly pointed out that this quarter will be the low point for gross margin for the entire fiscal year 2027, after which gross margins are expected to gradually recover in subsequent quarters.Micron has currently signed 26 long-term agreements, locking in approximately $150 billion in long-term orders. The supply and demand in the storage market for 2027 and 2028 will be tighter than in 2026, and "there is no end in sight for the restoration of supply and demand balance."Micron Technology (MU.O) expects capital expenditures for the first half of fiscal year 2027 to be around $25 billion, with higher spending in the second half, and most of the incremental spending will be for new wafer fabrication plants (construction expenditures) rather than purely for equipment procurement. Micron Technology CFO Mark Murphy explained that this is entirely because long-term contracts provide sufficient demand visibility, and new greenfield factories require a very long lead time.Additionally, Micron Technology Chief Financial Officer Mark Murphy also mentioned during the earnings call that in the fourth quarter of fiscal year 2026, Micron Technology generated an impressive $44 billion in operating cash flow and $33.2 billion in free cash flow.As time goes on, we expect to return 100% of excess cash to shareholders. We plan to begin increasing capital returns starting December 9, 2026 (the second anniversary of our signing of the final agreement for the CHIPS Act), primarily through stock buybacks.

first_img The cryptocurrency advocacy organization Stand With Crypto announced its first round of endorsements for Senate candidates

According to The Block, the crypto advocacy organization supported by Coinbase, Stand With Crypto, has announced its first round of Senate candidate endorsements.The organization stated that it will endorse Ohio Republican Senator Jon Husted, whose opponent is the crypto-skeptical former Senate Banking Committee Chairman Sherrod Brown. Additionally, it will endorse Ashley Hinson from Iowa and Chris Pappas from New Hampshire.This endorsement comes after the Senate's procedural vote on September 15 failed to pass the Clarity Act, which aims to establish a federal regulatory framework for the industry.Senate Democrats stated that they could not vote for a bill that would allow President Trump to profit personally from the crypto industry. Stand With Crypto's Executive Director Mason Lynaugh mentioned that after the Senate's recent failure to advance the Clarity Act, the organization’s more than 3 million advocates are fully shifting their focus to ensuring the election of candidates who support crypto.In addition to the Senate endorsements, Stand With Crypto also stated that it will increase advertising spending in six House campaigns, including those of Democratic Congressman Don Davis and Republican Congressman Bryan Steil.These newly endorsed House candidates all voted in favor of the Clarity Act when it passed the House last year. The organization has also endorsed more House candidates, including Congressmen Shomari Figures and Mariannette Miller-Meeks.
app_icon
ChainCatcher Building the Web3 world with innovations.