Top Headlines
1. PayPal Co-Founders to Launch Erebor Bank for Crypto & AI Startups
A group of tech billionaires, including PayPal co-founder Peter Thiel, plans to establish Erebor Bank—a federally chartered institution catering to crypto, AI, defense tech, and manufacturing startups. Key details:
- Filed with the U.S. Office of the Comptroller of the Currency (OCC) for a national bank charter.
- Aims to fill the void left by Silicon Valley Bank (SVB)’s 2023 collapse.
- Led by Palmer Luckey (Anduril) and backed by Thiel’s Founder’s Fund.
- Plans to integrate stablecoins into its balance sheet (specific coins undisclosed).
👉 Explore how Erebor could reshape crypto banking
2. Bitcoin Targets $110K as Bullish Season Approaches
10x Research reports Bitcoin is testing a critical resistance level amid strong ETF inflows and reduced exchange balances. Highlights:
- 98 consecutive days of outflows paused as institutional interest surges.
- Key level: $110,000—a breakout could signal a major rally.
- Low volatility presents a "rare opportunity" for investors.
3. Solana Staking ETF Hits $33M in Day-One Trading
The REX-OSPREY Solana Staking ETF (SSK) debuted with record volume, outpacing Solana futures and XRP ETFs. Anchorage Digital will serve as its exclusive custodian and staking provider.
Market Movers
4. Hong Kong’s DDM (02586) Soars 90% Amid Bitcoin Bet & Stablecoin Plans
- Shares surged after announcing Bitcoin holdings and a Hong Kong stablecoin license application.
- Partnered with HashKey Group for Web3 expansion.
5. Ripple Files for Federal Bank Charter
- Follows Circle’s similar move; aims to offer regulated crypto services and stabilize RLUSD.
- CEO Brad Garlinghouse calls it a "long-term compliance play."
Regulatory & Security Updates
6. DOJ Seizes $245M in Crypto Amid $14.6B Healthcare Fraud Case
- 324 defendants charged in the largest U.S. healthcare fraud takedown.
- Assets seized include crypto, cash, and luxury vehicles.
7. Fake Wallet Extensions Target Firefox Users
- 40+ malicious plugins (e.g., fake MetaMask) steal seed phrases.
- Tip: Verify developer info before installing.
Institutional Adoption
8. Belgian Bank KBC to Offer BTC/ETH Trading
- Bolero platform will serve retail clients pending regulatory approval.
9. Nasdaq Firm Addentax Plans $1.3B Bitcoin Purchase
- Negotiating to buy 12,000 BTC via stock issuance.
FAQ Section
Q1: Why is Erebor Bank significant?
A: It’s the first major bank post-SVB collapse explicitly serving crypto/AI startups, signaling institutional trust.
Q2: What’s driving Bitcoin’s $110K target?
A: ETF inflows, Fed political pressure, and historical July bullish trends.
Q3: How does the Solana ETF differ from Bitcoin ETFs?
A: It combines spot exposure with staking yields—a first for U.S. markets.
👉 Stay ahead with the latest crypto trends
Looking Ahead
- Bitcoin Layer2 BOB launches mainnet in Q4.
- Stablecoin regulations heat up globally.
- Corporate crypto buys hit record highs.