Weekly Recap
1) The U.S. Securities and Exchange Commission (SEC) approved Nasdaq rules allowing the trading of tokenized stocks and securities.
2) Senators reached an agreement with the White House to resolve disputes with banks over yields on crypto stablecoins.
3) The SEC and the Commodity Futures Trading Commission (CFTC) issued joint guidance confirming that "most crypto assets" are not securities.
4) PayPal officially launched its stablecoin service in 70 countries.
5) SEC Chairman Paul Atkins stated that "the cryptocurrency market and the millions of Americans involved deserve the long-awaited clarity."
6) CFTC Chairman Mike Selig stated that as markets "run on-chain," cryptocurrencies will drive the development of "new areas of finance."
7) SEC Chairman Paul Atkins stated that he is removing unrealistic rules to "advance, clarify, and transform" financial markets.
8) U.S. national debt reached a record high of $39 trillion.
9) Elon Musk's xAI is recruiting Wall Street bankers, portfolio managers, and traders to train Grok's financial modeling capabilities.
10) Federal Reserve Chairman Jerome Powell warned that the war between the US and Israel and Iran has led to rising energy prices, which will push up inflation.
