Biden’s $LAPTOP falls 98%

Hunter Biden's $LAPTOP memecoin began trading on Base today, rising to a short-lived high of $190.81 in the first two minutes before falling to as low as $2 less than one hour later. Still, that gives the memecoin a more than $750 million market cap, putting it in the top 100 cryptoassets. It also places it squarely ahead of Trump’s memecoin, $TRUMP. Read more →

Jack Dorsey’s Block (XYZ) has submitted an application to federal regulators to establish a national trust bank called Builders Bank & Trust. The move comes as fintech and crypto companies have been racing to enter into banking. PayPal and Sezzle for example recently stated they would seek national bank charters while Ripple and Circle received approval from the OCC earlier this year. If Block’s bank is approved it “would provide custody and related fiduciary services, including for bitcoin and stablecoins.” Read more →

One of the crypto industry’s oldest firms will be splitting in two. Consensys announced today that it is rebranding as MetaMask (the same name as its flagship wallet product). This unit will operate as an independent corporate entity, focused entirely on its consumer MetaMask platform, with Ethereum co-founder Joe Lubin as CEO. The rest of the firm’s operations—which include various protocols and Ethereum software for institutions—will be housed in a new and separate unit. The restructuring comes after Consensys pushed back its IPO due to poor market conditions. Read more →

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