Hedge funds cut Bitcoin ETF exposure by 28% as the basis trade lost profitability, but experts say the move reflects macro-driven deleveraging and a shift toward long-term institutional capital, not fading confidence in crypto.
Crypto.com received OCC conditional approval for a national trust bank charter, joining Circle, Ripple, BitGo and Paxos in pursuing federal banking status.
Changpeng Zhao made his first US appearance since prison at Trump's WLFI forum, touting Binance.US expansion and calling a banking charter "totally possible."
Bitcoin trades in a tight range as macro policy uncertainty caps upside, even as corporate accumulation, ETF flows and stablecoin growth deepen institutional integration into crypto markets.