Block joins the wave of U.S. federal banking license applications, with plans to establish a trust bank for Bitcoin and stablecoin custody.
51 minutes ago
Twitter co-founder Jack Dorsey’s payment firm Block has filed an application with the U.S. Office of the Comptroller of the Currency (OCC) to establish an uninsured national trust bank named Builders Bank & Trust, N.A. Nominee president and CEO Lee Woolley stated in a declaration that the bank will leverage Block’s digital asset expertise, Square Financial Services’ track record, and the team’s deep banking capabilities to advance Block’s long-term vision of “economic empowerment.” If approved, Builders Bank will offer custody and other trust services including bitcoin and stablecoins, and establish a federal regulatory framework for some of Block’s existing custody operations. This application is the latest move in the race between fintech and crypto firms to secure federal banking charters. Last week, Revolut received conditional OCC approval, joining the ranks of Coinbase, Paxos, BitGo, Ripple, and Circle. Under its current leadership, the OCC has taken a friendly stance toward the crypto industry; it previously also granted conditional approval to World Liberty Financial, a project backed by the Trump family, sparking reviews over potential conflicts of interest. Since 2025, the OCC has received 40 applications for new bank charters, approved 21, and rejected only two. Block’s application for a federal charter at this juncture marks its expansion from payments and crypto operations to federally regulated, bank-grade custody infrastructure.
Loracle shorted PONS and turned a loss into a profit, with the total unrealized loss on its main short positions still standing at around $16.2 million.
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LAPTOP: 4 million tokens will be deployed to incentivize liquidity, while 10 million tokens will be burned.
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Leading on-chain meme tokens have generally corrected, with MEME, CASHCAT, 4Stock and USELESS all falling.
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Bonk Guy’s portfolio posted a 24-hour drawdown of $3.47 million, maintaining heavy positions in PONS, USELESS, and MarsCoin.
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Jiang Zhuoer: Buying US-listed BNC with a 5% position is equivalent to purchasing BNB at a 50% discount.
9 minutes ago
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