Federal regulators have granted preliminary approval to Erebor Bank, a crypto- and tech-focused financial institution co-founded by Palmer Luckey, which aims to secure final approval from the Federal Deposit Insurance Corporation. With backing from notable investors like Peter Thiel and Joe Lonsdale, Erebor plans to generate revenue by lending against crypto and valuable tech assets.

NYC Mayor Eric Adams announced the creation of a digital assets advisory council aimed at fostering fintech job growth and exploring innovative solutions for city services, such as using blockchain for vital records. The council will consist of industry experts, with a chair to be named soon, and reflects the city's commitment to embracing technology for the benefit of its residents.

Under Trump’s second presidential term, traditional financial institutions and crypto firms are increasingly collaborating due to regulatory rollbacks. Major banks like Bank of America are exploring stablecoins and seeking licenses to offer crypto services, indicating a significant shift in the finance sector's approach to digital assets.

The finance industry is facing a crisis of trust characterized by aggressive pricing and risk-taking, as exemplified by JP Morgan's decision to impose fees for open banking access. This move has sparked controversy amid a backdrop of high inflation and a multi-polar world, highlighting the tensions between traditional banks and fintech companies. The article discusses the implications of these developments, including a record IPO for a crypto-holding company, and raises questions about the future of financial regulation and consumer trust in the industry.

Palmer Luckey, co-founder of Anduril, is launching a new crypto-focused bank to fill the gap left by the collapse of Silicon Valley Bank. Backed by tech billionaire Joe Lonsdale and Peter Thiel's Founders Fund, the bank aims to be a heavily regulated entity facilitating stablecoin transactions.

The emergence of Fintech 3.0 is paving the way for a new financial system built on blockchain technology, characterized by instant payments, digital asset control, and regulatory clarity following the GENIUS Act. With the success of stablecoins and the potential for tokenization of various assets, there is a significant opportunity for startups to innovate and build onchain solutions. YC and Coinbase Ventures are eager to support and fund projects that leverage this evolving infrastructure.

Fidelity offers opportunities to build a career in the cryptocurrency sector, leveraging its long-standing history of fintech innovation. The company is actively hiring across various roles in digital assets and blockchain, emphasizing a culture of innovation and stability.

South Korea's Financial Services Commission has ordered Apple to remove 14 unregistered crypto apps, including KuCoin and MEXC, from its App Store, effective April 11. This action follows a similar ban on Google’s Play Store as the country intensifies regulatory measures against unregistered foreign crypto services. Violating these regulations can lead to severe penalties for providers.

A coalition of ten major fintech and crypto trade groups is urging President Trump to intervene against JPMorgan's proposed fees for accessing consumer banking data, which they argue could stifle innovation and de-bank millions of Americans. The letter emphasizes that financial data should belong to consumers and warns that such fees threaten the adoption of stablecoins and self-custody wallets. The situation is complicated by ongoing legal battles over the Consumer Financial Protection Bureau’s open banking rule, which mandates free access to consumer data.

Stripe has appointed Matt Huang as the CEO of its new blockchain project, Tempo, aiming to enhance cryptocurrency infrastructure. Huang's experience in venture capital and fintech positions him to lead the project in integrating key crypto components and advancing Stripe's digital payment solutions. This move emphasizes the growing intersection of fintech and blockchain technologies.