Episode Summary

Crypto majors continue to grind higher; BTC +1% at $70.6k; ETH +2% at $2,070; SOL +2% at $87. RIVER (+18%), SKY (+8%) and HYPE (+8%) led top movers. Oil rebounded to $90+ as 3 more ships were struck. The HYPE/BTC ratio hit a new ATH after HYPE surged 8% to $37.60 overnight. Ripple began a $750M share buyback at a ~$50B valuation, signaling confidence ahead of a rumored IPO. Kraken announced Kraken CLI as its new interface for AI agents to access crypto markets natively. FDIC Chairman Travis Hill confirmed that stablecoin users won’t receive FDIC deposit insurance or pass-through coverage under the GENIUS Act. The American Bankers Association took aim at stablecoins at the same Washington Summit, citing yield competition and deposit flight risks for traditional banks under the GENIUS Act. The DOJ is reportedly investigating Iran’s alleged use of Binance to route $1B+ to sanctioned groups, while Binance simultaneously sued the Wall Street Journal for defamation over its earlier reporting on the probe. Northwestern Mutual found that 73% of Americans invested in prediction markets and crypto say they’re financially behind, with 80% of Gen Z citing these as faster paths to wealth than traditional investing. Revolut secured a UK banking license opening the door to expanded crypto and financial services for its 50M+ European users.
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