May 9, 2025
| Today’s news and insights for banking industry leaders
The Trump Organization’s “generalized allegations” of politically motivated de-banking don’t hold up and its claims lack “factual or legal support,” the bank said Wednesday.
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Democrats demanded fixes to the GENIUS Act – designed to create a framework for bringing stablecoins into the U.S. financial system – and raised concerns about Trump’s ties with crypto ventures.
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The agreement must get sign-off from a federal judge, among other next steps. A Democratic commissioner at the SEC, however, said the deal would mark a “tremendous disservice” to the law.
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Alex Mashinsky misrepresented Celsius’ business and financial position to woo customers into “unbanking themselves,” and then manipulated Celsius’ native token to enrich himself, the DOJ said.
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The transaction – the crypto sphere’s largest of the year – positions Coinbase to boost its international foothold and diversify its trading revenue.
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A similar resolution pending in the House would reverse a rule toughening the approval process – just as opponents of the Capital One-Discover deal say the green light came too easily.
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Since the advent of ChatGPT, several banks are charging ahead to take primacy in harnessing the burgeoning technology. Explore the use cases of AI and ML in banking in this Trendline.
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