🔔 MARKET MOVING NEWS! (08/05/25)
1️⃣ US Banks Can Handle Customer Crypto Assets Held In Custody, Regulator Confirms ▶️
The US Office of the Comptroller of the Currency (OCC) has published a new policy directive that permits banks under its jurisdiction to trade crypto on behalf of customers and outsource some crypto activities to third parties. The OCC's latest policy directive follows its previous March letter, which rescinded its 2021 stance requiring banks to obtain a supervisory non-objection before engaging in crypto-related activities. It is also part of a coordinated policy shift across U.S. financial regulators.
2️⃣ G-7 Leaders Eye Talks on North Korea’s Crypto Hacks at Summit 💬
According to a Bloomberg report, leaders from the Group of Seven (G7) countries are looking to discuss North Korea’s malicious cyber activities and crypto hacks at a summit in Canada next month. While the summit is expected to center around mounting geopolitical concerns and trade tensions, North Korea’s increasing cyber threats and crypto hacks have become a major concern requiring a coordinated international response. Specifically, the G7 is concerned about North Korea's actions helping support its development of weapons of mass destruction. The summit, hosted by Canadian Prime Minister Mark Carney at Kananaskis, Alberta, will run from June 15 to 17.
3️⃣ Arizona Becomes Second US State To Enact Crypto Reserve Bill ‼️
Arizona has become the second U.S. state to pass a bitcoin reserve bill into law. Arizona Governor Katie Hobbs signed House Bill 2749 into law on Wednesday, allowing the state to keep unclaimed crypto and establish a “Bitcoin Reserve Fund” that won’t use any taxpayer money or state funds. Specifically, the state can claim ownership of abandoned digital assets if the owner fails to respond to communications within three years. Essentially, it enables the integration of crypto assets into Arizona's unclaimed property framework. The bill also allows qualified custodians to stake the reserve assets for rewards or airdrops. The move follows New Hampshire's approval of a strategic bitcoin reserve bill (HB 302) on Tuesday.
4️⃣ DeFi Development Corp to Split Stock 7-for-1 After Solana-Fuelled Rally 🔼
DeFi Development Corp., a publicly traded AI-powered real estate software firm known for its Solana corporate reserve strategy, will reportedly execute a 7-for-1 stock split later this month. The split, approved by the board and pending regulatory steps, will take effect May 20. Shareholders of record as of May 19 will receive six additional shares for each share they hold, increasing outstanding shares from roughly 2 million to over 14 million. The company stated the split is part of its mission to scale SOL accumulation and validator ownership by enhancing liquidity and making DFDV more accessible.
5️⃣ Strive To Become Bitcoin Treasury Company 💸
Strive Asset Management, the asset management firm founded by former presidential candidate Vivek Ramaswamy, has revealed plans to transition into a Bitcoin treasury company. As part of the plan, Strive is going public through a reverse merger with tech company Asset Entities. The deal will see the combined company operating under the Strive name and listed on the NASDAQ. Strive plans to build a sizable bitcoin reserve using financing strategies designed to limit shareholder dilution. This includes allowing “Bitcoin holders to contribute Bitcoin in exchange for public stock through a structure that is intended to be tax-free.”
6️⃣ Binance Founder CZ Confirms Filing For Presidential Pardon From Trump 👀
In a recent episode of the Farohk Radio podcast, Binance founder Changpeng Zhao revealed he has applied for a pardon from U.S. President Donald Trump following his release from prison last year. He claimed he formally submitted his pardon request through his lawyers two weeks ago.
