The Crypto Council for Innovation (CCI) and the Blockchain Association jointly issued a letter on Aug. 20 endorsing Brian Quintenz for Chairman of the US Commodity Futures Trading Commission (CFTC).

In the letter to President Donald Trump, the groups emphasized that confirming Quintenz promptly is critical to advancing his administration’s agenda to foster a “golden age” for digital assets in America.

According to the group:

“Each of our organizations has had the privilege of knowing and working with Mr. Quintenz firsthand, and we can attest to his deep expertise, sound judgment, proven leadership, and integrity.”

They further noted that Quintenz’s experience positions him to guide the CFTC at a decisive moment for US financial markets and the broader digital asset ecosystem.

Their endorsement also frames him as uniquely equipped to implement regulations that support responsible innovation, safeguard market integrity, and maintain American economic competitiveness.

They wrote:

“Mr. Quintenz’s extensive experience and substantive and technical understanding of blockchains, digital assets, and financial markets makes him exceptionally well-suited to lead the CFTC at this critical juncture.”

Quintenz, who was nominated in February, saw his confirmation vote delayed after concerns arose over potential conflicts of interest, highlighted by notable industry figures like the Gemini co-founders Tyler and Cameron Winklevoss.

Pushback against bankers

The same coalition also opposed a recent initiative by US banks to amend provisions in the GENIUS Stablecoin Regulation Act.

In an Aug. 19 letter, the groups argued that the proposed changes would create an uncompetitive environment favoring banks while limiting broader industry growth, innovation, and consumer choice.

Last week, the Bank Policy Institute (BPI) and other banking groups urged lawmakers to address what they described as a legislative gap that prevents exchanges and affiliated firms from offering indirect yields on stablecoins.

The traditional financial institutions warned that this gap could drive up to $6.6 trillion in deposits from the traditional banking sector into digital assets.

However, the crypto organizations countered that payment stablecoins operate under distinct frameworks and should not be treated like bank products.

They stressed that allowing regulated platforms to share benefits with customers is “a feature that promotes financial inclusion, fosters innovation, and ensures American leadership in the next generation of payments.”

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Clients at the brokerage giant Charles Schwab believe the next three months will be bullish for the stock market.

In the firm’s Q3 2025 Trader Client Sentiment Report, Charles Schwab reveals that 57% of its clients are bullish in the stock market for this quarter, with only 29% having a bearish bias.

The survey also shows that 53% of respondents plan to invest in individual stocks this quarter, as 42% say they intend to add more funds to their portfolio. Only 19% plan to take money out of their investment account.

As Charles Schwab traders express their market sentiment over the next few months, 62% say they are most bullish on artificial intelligence (AI) stocks, 56% say growth stocks are their top pick and 55% say they see the most upside potential in domestic stocks.

Meanwhile, 55% say they are bullish on the equities market in general.

The survey results come as banking giant Goldman Sachs unveils a trade it says could spark an investor stampede driven by fear of missing out (FOMO). In a new podcast episode, Kunal Shah, the co-CEO of Goldman Sachs International, says that a Fed rate cut will negatively impact the value of the US dollar and trigger rallies in European stocks, fueled by cheap dollars and a rising euro.

4:50 “I think from here. One of the key drivers beyond the long-term capital allocation theme is really just relative monetary policy. We’re at the point now where the ECB (European Central Bank) may be done [cutting rates], at least for now. But there is pressure on the Fed to cut. 

Now you need to figure out when they are getting a green light from a data perspective, but there is definitely room there for further easing in the front end of the US curve, and that can catalyze another move higher in the euro.

And when the euro is rallying, it is the ultimate FOMO trade that I think people now are going to have to re-risk into.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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July 22nd, 2025 – Hong Kong, PCR

class=”ql-align-justify”>MultiBank Group, one of the largest and most regulated financial derivatives institutions, has officially launched the MBG Token Generation Event (TGE), following a record-breaking pre-sale that saw millions of tokens snapped up in minutes.

MBG has launched on MEXC and Gate.io, with additional availability on MultiBank.io and Uniswap, as part of its broader integration across centralized and decentralized trading platforms.

The July 18 pre-sale sold out in minutes, proving MBG’s unique edge: a crypto asset anchored in real-world value. Backed by MultiBank Group’s $35 billion daily trading volume and $29 billion in real assets across the group’s four-pillar ecosystem, MBG delivers tangible utility for the future of finance. A $440 million buyback and burn program will further support growth over the next four years.

MultiBank Group Chairman and Founder Naser Taher commented: “The launch of MBG marks a transformative moment for our Group and the broader cryptocurrency landscape. The unprecedented demand for both pre-sales – selling out in minutes – demonstrates the market’s strong belief in our vision. MBG is built on rock-solid fundamentals, combining MultiBank’s $35 billion daily trading infrastructure with a $29 billion real asset base, while driving innovation through its multi-utility role: powering transactions across our TradFi and digital ecosystems, enabling staking rewards, and serving as the native token for our $3 billion real-world asset platform. This isn’t just another crypto token; it’s a bridge between traditional finance and blockchain’s future, engineered to deliver sustainable value at every level.”

MBG will serve as a core utility token across MultiBank Group’s integrated four-pillar ecosystem, supporting transaction fees, staking, rewards, and internal settlements. Its applications extend throughout:

• MultiBank TradFi: The Group’s flagship contract-for-difference (CFD) business, which generated $362 million in revenue last year.
• MEX Exchange: A forthcoming institutional-focused crypto ECN (Electronic Communication Network) built for large-scale liquidity aggregation, valued at $23.7 billion.
• MultiBank.io RWA: The real estate tokenization platform and marketplace, with a $3 billion agreement involving MAG Lifestyle Development that will introduce premium properties such as the Ritz-Carlton Residences.
• MultiBank.io: A highly regulated digital asset exchange enabling spot trading, derivatives, and future DeFi integrations.

The launch of MBG has already garnered what the team describes as strong interest and engagement from the crypto community.

The Token is Now Live on MexC, Gate.io, Uniswap, Multibank.io.

Socials: X, Telegram

About Multibank Group

MultiBank Group, established in California, USA in 2005, is a global leader in financial derivatives. With over 2 million clients in 100+ countries and a daily trading volume exceeding $35 billion, it offers a broad range of brokerage and asset management services. Renowned for innovative trading solutions, robust regulatory compliance, and exceptional customer service, the Group is regulated by 17+ top-tier financial authorities across five continents. Its award-winning platforms provide up to 500:1 leverage across Forex, Metals, Shares, Commodities, Indices, and Cryptocurrencies. MultiBank Group has received over 80 international awards for trading excellence and regulatory compliance. For more information, users can visit MultiBank Group’s website.

Contact

Mr
Nicolas Neofytou
MultiBank Group
nikolas.neofytou@multibankfx.com

Customers at several of the largest banks in the US are reportedly victims of a ruthless robbery scheme, according to a new report.

Members of two criminal organizations in Maryland have been charged with participating in a criminal gang, attempted murder, armed carjacking, armed robbery, assault and firearms-related counts, reports WMAR 2 News.

Authorities say the groups targeted customers visiting physical bank branches, specifically at Bank of America, Capital One, Wells Fargo and Navy Federal Credit Union.

The groups would allegedly follow victims after they used an ATM or emerged from inside the bank – striking them at their homes or businesses.

In one especially bold move, the thieves are accused of purposefully crashing into a victim’s car to force a stop, robbing them at gunpoint.

From August 2023 to July 2024, prosecutors say the groups robbed 34 victims of over $155,000 across five Maryland counties.

At time of publishing, a total of seven people have been indicted.

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• XRP price currently faces downward pressure at a key level.
• CME Group’s XRP futures launch on May 19, 2025, joining BTC, ETH, and SOL.
• What does this mean for the XRP price?

CME Group’s addition of XRP futures to its existing lineup—alongside Bitcoin, Ether, and Solana—underscores rising institutional interest in the digital asset and cements its role in the evolving crypto derivatives market.

However, with XRP currently facing bearish pressure at a key level and neutral market sentiment, will this development ignite a price surge, or will caution prevail?

CME Group’s XRP futures and Ripple price

Ripple’s XRP is one of the top cryptocurrencies in terms of overall gains in the past year.

Multiple catalysts, including the conclusion of the legal tussle with the US Securities and Exchange Commission (SEC), have helped the XRP price.

Now, the announcement of CME Group’s XRP futures launch on May 19, 2025, has sparked excitement.

CME Group’s introduction of cash-settled XRP futures, based on the CME CF XRP-Dollar Reference Rate, offers institutional investors a regulated avenue to gain exposure to XRP.

Available in micro (2,500 XRP) and standard (50,000 XRP) contract sizes, these futures cater to diverse trading strategies, potentially boosting liquidity and price stability.

Ripple CEO Brad Garlinghouse says it’s a major milestone.

While overdue in a bunch of ways, this is an incredibly important and exciting step in the continued growth of the XRP market! https://t.co/mnwJXKH5hi

— Brad Garlinghouse (@bgarlinghouse) April 24, 2025

Giovanni Vicioso, CME Group’s Global Head of Cryptocurrency Products, highlighted growing institutional and retail adoption of XRP and its underlying ledger (XRPL), suggesting the futures launch responds to rising demand for risk management tools.

Historically, CME’s futures for Bitcoin and Ether have drawn significant institutional interest, often stabilizing prices over time while occasionally sparking short-term volatility.

For XRP, the futures could attract new capital, but the bearish technicals and neutral RSI suggest a breakout may hinge on broader market strength or positive developments in XRP’s ecosystem.

While the launch is a bullish signal, immediate price explosions are uncertain, with sideways consolidation likely unless momentum shifts.

Investors should monitor support levels and market trends closely, maintaining a neutral bias with a slight bearish tilt for now.

XRP price analysis

XRP’s current price action paints a cautious picture.

At $2.21, down 1% in the last 24 hours, XRP currently hugs the upper Bollinger Band.

Meanwhile, price has bounced off the midline, indicating resilience under pressure.

The Relative Strength Index (RSI) at 55 and the Moving Average Convergence Divergence (MACD) show a bullish crossover.

However, the lack of robust momentum tempers expectations for an immediate rally.

Short-term sentiment leans bullish, though, with key support levels at $2.00 and $1.85 and major resistance at $2.5 and $3.

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Solana Labs co-founder Anatoly Yakovenko said he is “ashamed” about downplaying the impact of a recent Solana Foundation advertisement, calling it “mean and punching down on a marginalized group.”

Yakovenko made the statement in a social media post on March 19 and expressed gratitude to those in the Solana (SOL) ecosystem who called it out immediately.

He said:

“I am grateful for the ecosystem devs and artists that immediately called it what it is both publicly and privately. You are the only silver lining to this whole mess.”

He further committed to ensuring that the Solana Foundation remains focused on its core mission of decentralization and open-source software development rather than engaging in cultural debates. 

His response signals an effort to realign the foundation’s priorities and address community concerns.

Controversial ad sparks backlash

The Solana Foundation faced significant criticism following the release of a promotional video titled “America is Back — Time to Accelerate.”

The ad, posted on March 17, depicted the US as a man in therapy who struggles to focus on technological advancements like crypto and space travel due to societal discussions on pronouns and gender identity.

However, the ad was widely condemned for injecting political discourse into the crypto space.

Andrew Thurman of the Jito Foundation, the entity behind the largest project by total value locked on Solana, emphasized the importance of neutrality in blockchain projects.

After facing mounting criticism, the Solana Foundation deleted the video within nine hours of its release. However, by that time, it had already garnered over one million views.

Following the backlash, Solana Foundation Vice President of Technology Matt Sorg clarified that only a few individuals were involved in the ad’s production. He responded to concerns from Cinneamhain Ventures partner Adam Cochran, who questioned how the ad could have passed multiple stages of approval without objections.

Cochran further noted that transgender developers have significantly advanced open-source cryptography and security software, arguing that the ad failed to recognize the industry’s history of meritocratic contributions.

Sorg explained that most of the production process had been outsourced to external teams and clarified that the ad did not represent the Solana community.

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