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Tether Engages Big Four Firm for First Full Audit of USDT Reserves
Move beyond attestations signals a shift toward institutional-grade transparency for the world’s largest stablecoin
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Lorenzo Letter #11: Crypto Comes To US Mortgages
Coinbase introduces crypto-backed mortgages, David Sacks steps down from Crypto Czar role, and a USR exploit leads to over $6M in losses.
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David Sacks Steps Down as White House Crypto Czar as Key Legislation Remains Unresolved
After 130 days shaping the administration’s digital asset agenda, Sacks exits his formal role with major policy efforts still in progress.
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Lorenzo Letter #10: Bear Market Spoils Kraken IPO
Kraken pauses its IPO amid cooling crypto markets, Mastercard acquires BVNK in a $1.8B push to connect stablecoins with fiat rails, and Tally shuts down as declining demand and shifting regulation challenge the role of DAO governance.
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Mastercard To Acquire BVNK In $1.8B Deal To Bridge Stablecoins And Fiat Rails
Mastercard is acquiring stablecoin infrastructure firm BVNK for $1.8 billion, accelerating its push to connect fiat payment rails with on-chain financial systems.
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Lorenzo Letter #09: No FDIC Insurance For Stablecoins
FDIC confirms stablecoins won’t receive federal deposit insurance, Mastercard launches a global crypto partner program with 80+ firms, BlackRock introduces a staked Ethereum ETF, and new research explores how rising private credit risk could impact DeFi lending markets.
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Mastercard Launches Global Crypto Partner Program
Mastercard launches a Crypto Partner Program with Binance, Ripple, PayPal, Circle, and more than 80 firms to develop real-world digital asset payment use cases.
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Lorenzo Letter #08: Kraken Secures Fed Master Account
Kraken secures a Federal Reserve master account, Trump backs the crypto industry in a dispute with banks over stablecoin yield, and Citi expands its digital asset strategy with plans to launch institutional bitcoin custody.
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Trump Backs Crypto Industry in Dispute With Banks Over Stablecoin Yield
President Donald Trump publicly backed the crypto industry in its dispute with banks over stablecoin yield, adding pressure to pass U.S. crypto market legislation.
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Citi Accelerates Bitcoin Custody Push as Wall Street Deepens Crypto Integration
The banking giant moves to make bitcoin “bankable” while traditional finance adapts to always-on, tokenized markets.
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Lorenzo Letter #07: Meta Stablecoin Rumors Swirl
Meta explores third-party stablecoin payments, Binance revives tokenized U.S. equities with Ondo, and World Liberty Financial proposes staking-based governance tiers tied to USD1 incentives.
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World Liberty Financial Proposes Governance Staking System for WLFI Token
World Liberty Financial proposes a major WLFI governance staking system, introducing tiered participation and new USD1-linked incentives.