Wells Fargo

Wells Fargo is in discussions with Payward, the parent company of Kraken, about using the firm as a crypto liquidity provider. The talks highlight how major banks are increasingly working with established digital asset companies as regulatory conditions become more constructive.

Tether said its exposure to EQIBank is less than 0.034 percent of total assets after a U.S. asset seizure involving the lender’s payment processor. The case underscores persistent counterparty risk across fiat banking networks used by stablecoin issuers, while offering no apparent immediate threat to USDT reserves or its dollar peg.

A group of 21 financial institutions plans to establish a company to support stablecoin issuance, starting with a U.S. dollar token for payments and digital asset settlement. The venture is expected to pursue compliance with U.S. and European frameworks while prioritizing a euro-denominated token for expansion.

Bitwise Chief Investment Officer Matt Hougan says bitcoin could draw trillions of dollars from major institutions over the next decade. His long-term case argues that even a 1% allocation from the world’s largest capital pools could help support a $1.3 million bitcoin price by 2035.