The FDIC published a 38-page proposal outlining how regulated banks could apply, via subsidiaries, to issue payment stablecoins. According to an FDIC website posting, the draft lays out approval criteria and oversight; as Bloomberg reported, it will undergo a public consultation before advancing. The GENIUS Act cleared the Senate in June and was signed by President Donald Trump on July 18.

American Bitcoin, backed by Eric Trump, has moved ahead of Anthony Pompliano's ProCap Financial in total corporate Bitcoin holdings after adding over 1,000 BTC since the start of December, bringing its stack to 5,044 BTC worth about $443 million. While both firms continue accumulating BTC and the top 100 public companies now hold more than 1.08 million BTC, their share prices and other Bitcoin proxy stocks have come under heavy pressure amid heightened market volatility.