The Office of the Comptroller of the Currency (OCC) published Interpretive Letter 1186, which marks a significant milestone for the crypto industry and traditional banking alike. This letter officially authorizes national banks in the United States to hold limited amounts of cryptocurrencies—such as Ethereum (ETH)—on their balance sheets specifically to pay gas fees. This was previously a major operational hurdle for banks wanting to engage directly with blockchain systems.
By clarifying that holding crypto-assets to pay network fees is permissible as an incidental power related to the business of banking, the OCC has made it easier for banks to integrate blockchain-based transaction settlements and custody services without relying on third-party intermediaries. Banks are also allowed to hold crypto for testing internally developed or third-party crypto platforms, which should enhance the safety and soundness of crypto-related banking innovations.
The letter requires banks to maintain these holdings on a de minimis basis relative to capital and manage associated risks such as operational, cybersecurity, and compliance risks. Importantly, these crypto-asset holdings are not for speculative investment but are functional—ensuring banks can efficiently process blockchain transactions and provide better custody services to clients.
For the crypto market, this guidance signals a new era of mainstream financial institution involvement in blockchain transactions, potentially accelerating blockchain adoption in everyday banking operations. It opens the door to quicker, more efficient payment settlements and strengthens the connection between regulated banks and the crypto ecosystem under rigorous oversight.
Overall, OCC’s Interpretive Letter 1186 provides clearer regulatory certainty that could spur further innovation and trust in crypto-integrated financial services, while ensuring safety, soundness, and legal compliance.
👀👀👉Pinduoduo (PDD) reported its Q3 2025 earnings today, showing a mixed but overall positive performance. The company posted total revenue of RMB 108.28 billion (approximately USD 15.21 billion), marking a 9% year-over-year increase, though this growth rate has moderated compared to previous quarters. The adjusted net income attributable to ordinary shareholders rose 14% to RMB 31.38 billion, beating profit expectations despite some revenue growth slowdown attributed to competitive pressures and external uncertainties.
Pinduoduo highlighted ongoing investments in merchant support initiatives and ecosystem development as part of its long-term strategy, which may cause some fluctuations in future quarterly financial results. Operating cash flow was strong at RMB 45.66 billion. However, costs also rose, with fulfillment, bandwidth, and payment fees increasing, as well as a 41% jump in research and development spending.
In summary, Pinduoduo’s Q3 earnings report reflects solid profitability gains and strategic investments in growth and innovation despite a challenging competitive environment and slowing revenue growth. This shows the company's focus on sustaining market position and long-term value creation amid evolving market dynamics.
U.S. stock futures started higher this Monday ahead of the release of important September job data later in the week and in anticipation of Nvidia's upcoming quarterly earnings report scheduled for Wednesday after market close. Futures for major indexes like the Nasdaq and S&P 500 showed modest gains, reflecting cautious optimism in the market.
👀🤔👉6 weeks ago $BTC ATH $126,199.63, now it's 24% down about $95,000. There's something I don't understand, the fear & greed index is on 18, extreme fear,really? -24% extreme fear?? Is it because of short-term holders?