White House Backs Limited Stablecoin Rewards; Parsec Shuts Down — Market, Regulation and Project Updates

The White House signaled support for limited stablecoin reward programs and urged banks to finalize a market structure bill; restricted stablecoin rewards may be folded into the next draft of the Senate’s Digital Asset Market Clarity Act if banks agree. Coinbase’s CLO noted a U.S. court deemed Kalshi’s event contracts to be swaps under CFTC jurisdiction; a Tennessee judge granted a preliminary injunction blocking state enforcement against Kalshi. Product and project updates: Rumble Wallet integrated Tether’s USAT; Anchorage Digital launched a stablecoin solution for international banks; Aave’s RWA deposits surpassed $1 billion; on-chain analytics provider Parsec announced it will cease operations after five years and begin refunds and subscription cancellations. Market analysis highlighted Bitcoin’s adjusted SOPR falling to 0.92–0.94, indicating many transfers occurring at a loss and ongoing structural selling pressure despite softer macro conditions. Commentary included Vitalik on Ethereum’s human-centered goals and others debating prediction-market content and regulatory impacts. Notable funding moves: Bitdeer raising $300M via convertible preferred notes; Nvidia negotiating a ~$30B investment into OpenAI; several fintech and crypto financings and strategic investments including Tradeweb’s stake in Kalshi and multiple seed/series rounds.