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According to PANews, on-chain analyst @ai_9684xtpa has reported that a whale address, known for making a profit of $4.9 million from trading LINK in December 2023, has accumulated 10,779 ETH in the past three days. The total value of the accumulated ETH is $31.77 million, with an average transfer-in price of $2,947.

Currently, the major holdings of this address consist of ETH and LINK. The address holds 10,875 ETH, valued at $31.81 million, and 417,000 LINK with a cost of $10.91, resulting in a floating profit of $2.94 million.

🏦 What’s Going On?

The American Bankers Association (ABA), along with several other major U.S. banking groups, formally petitioned the Office of the Comptroller of the Currency (OCC) to delay or block national trust charters for crypto firms including Ripple and Circle .
They argue these firms don’t meet fiduciary requirements—key trust charter criteria involving activities like estate or asset management, not just crypto custody .
The associations also raised concerns about insufficient transparency, citing heavily redacted public filings that hinder meaningful regulatory or public feedback .
Crypto Industry Responds
Attorney John Deaton, a prominent XRP advocate, strongly condemned the ABA’s move as “obstruction and sabotage” of innovation . On X (formerly Twitter), Deaton wrote:
Tech commentator Vincent Van Code echoed this sentiment, calling the ABA’s stance “anti‑competitive and regressive,” and saying “The age of financial elites is over. A new era of decentralization is here.”
Why These Firms Applied
Both Ripple and Circle submitted applications for national trust bank charters to align with the requirements of the GENIUS Act, which mandates stablecoin issuers operate under federal oversight .
Circle’s application is for the “First National Digital Currency Bank” to oversee USDC reserves.
Ripple is pursuing a trust charter to extend its payments and stablecoin services, along with access to a Federal Reserve master account via its custodian subsidiary .
Core Disagreements
Issue ABA’s Argument Ripple/Circle’s View
Fiduciary Activity Trust charters require estate or asset management—not just crypto custody Crypto custody and stablecoin reserve services should qualify under updated frameworks tied to GENIUS.
Transparency Public filings are too heavily redacted; regulators and public need fully transparent business details for trust charters Applications comply with OCC guidelines for confidentiality; broader definition of fiduciary is appropriate.
Precedent & Risk Allowing non-traditional firms could open floodgates to unregulated entities skirting the Bank Holding Company Act Federal regulation via charters would enhance oversight, not erode it, promoting innovation.
⚖️ What Happens Next?
The OCC could choose to pause charter reviews or request additional disclosures to address transparency concerns.
Meanwhile, lobbying efforts from both traditional banks and the crypto sector are intensifying.
The outcome of these applications will be a major test of how U.S. regulators balance innovation versu
s tradition in the evolving digital financial landscape.
$USDC

$XRP