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Crypto

U.S. Republican senators urge review of bank capital rules for bitcoin holdings

Republican U.S. senators urged financial regulators to revisit bank capital rules for digital assets, saying current standards impose excessive burdens on holdings such as bitcoin. A joint letter sent on May 27 to the Federal Reserve, FDIC and OCC called for a fairer, more consistent framework for digital assets on banks’ balance sheets. Lawmakers also questioned the Basel Committee’s 1,250 percent risk weight for certain cryptocurrencies.

Crypto

Falcon Finance and SoFi launch dollar stablecoins targeting institutions and retail users

Falcon Finance and SoFi have launched U.S. dollar stablecoin products linked to U.S. banking infrastructure. Falcon Finance introduced the institutional-focused fUSD through Anchorage Digital Bank’s federally regulated issuance platform, with reserves held in short-term U.S. Treasuries, cash and Treasury-backed repos. SoFi unveiled SoFiUSD for retail users inside its app, supporting transfers on Ethereum and Solana and planning additional features in coming weeks.

Crypto

Catena Labs raises $30 million, applies for national trust bank charter

Agent finance startup Catena Labs, co-founded by Circle co-founder Sean Neville, raised $30 million in a Series A round co-led by a16z Crypto. The Block reported the company will use the funding to accelerate construction of banking infrastructure compatible with AI agents. a16z Crypto’s Chris Dixon and Elizabeth Hukaby said Catena is building a new category of regulated financial infrastructure for autonomous software.