The post Crypto Debanking in the Spotlight appeared on BitcoinEthereumNews.com.

It was a busy week in crypto featuring important product launches, fevered debate around Ethereum, movement on stablecoin legislation, and high-profile Congressional hearings on “debanking.” David Sacks, the Crypto and AI Czar, held a high-profile press conference with Senate leadership, as Senator Hagerty, of Tennessee, introduced a new stablecoin bill. The proposal, which outlines an oversight regime for stablecoin issuance, builds on a bill that passed the House last year but fell in the Senate. It’s more likely to pass this year, now that Republicans are in control. CoinDesk’s Jesse Hamilton had the news. The Senate also held hearings on the co-ordinated policy of institutions like the FDIC to deny financial services to crypto companies during the Biden years (aka debanking). Nathan McCauley, CEO Anchorage Digital, an institutional custodian, testified (and also wrote about his experience on CoinDesk). Consensys founder Joe Lubin said his company had been debanked twice as well, Ian Allison reported. Ondo Finance introduced a new tokenization blockchain, in readiness for an expected wave of institutional interest in RWAs. Kris Sandor and Helene Braun had the story. Trump-backed World Liberty Financial immediately bought $470,000 worth of ONDO, the platform’s governance token. Kris Sandor and Francisco Rodrigues reported on that. The week’s other big launch came from Berachain, which debuted a mainnet and a 79 million-strong airdrop, Shaurya Malwa reported. At the time of writing, BERA’s market cap was already more than $800 million. Shaurya also provided a prescient analysis of XRP price, well ahead of its decline by analyzing trading patterns. Meanwhile, Michael Saylor’s MicroStrategy rebranded, dropping the “Micro” but not the commitment to purchasing as much bitcoin as possible. Soon, James Van Straten reported that BlackRock had taken a 5% ownership in the company. News around Ethereum was less rosy, as has been the case for…

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Filed under: News - @ February 7, 2025 8:22 pm