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Trump’s crypto czar David Sacks says banks will fully embrace crypto once market structure bill passes

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David Sacks predicted that banks would fully embrace crypto once crypto market structure legislation is approved.

“I think what’s going to happen is that after market structure passes, the banks are going to get fully into the crypto industry. So we’re not going to have a separate banking industry and crypto industry. It’s going to be one digital assets industry,” Sacks said in a CNBC interview today.

The White House crypto czar urged both the crypto industry and the banking sector to compromise on the stablecoin yield issue to advance a market structure bill to President Trump’s desk.

“I’m in favor of reaching a solution and facilitating a compromise so that we can get a bill for market structure on the president’s desk,” Sacks said.

The dispute centers on whether stablecoins should be permitted to pay yield, with banks opposing the provision and crypto firms pushing to compete. Sacks said banks should acknowledge that stablecoin yield remains a live issue under existing law as negotiations over market structure continue.

“If the bill ends up dying, then there will be a form of rewards,” Sacks said, urging banks to recognize their negotiating position. “If there’s no deal, then they’re going to lose on this issue. So I think it’s in their interest to work something out.”

“I bet you over time, the banks like the idea of paying yield because they’re going to be in the stablecoin business,” he added.

Sacks also pressed crypto advocates to consider the broader stakes.

“I understand that yield is philosophically important to them, but so is getting an overall market structure bill,” he said.

On the question of regulatory parity, Sacks acknowledged banks’ concerns about uneven treatment.

“Everyone offering the same product should be regulated in the same way. And we want to get to that harmonization,” he said.

Sacks compared the current impasse to the GENIUS Act’s rocky path, noting it “died about three times before it finally passed.” He suggested a similar process may be necessary. “A good compromise is everyone leaves a little bit unhappy,” he said.

Trump’s AI and crypto czar says crypto and traditional banks will become ‘one industry’

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Sacks believes the divide between banking and crypto industries will disappear, with banks potentially seeing stablecoin issuance as a way to enter the market.

Noble Stablecoin Blockchain Migrates From Cosmos To Ethereum

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Noble, a stablecoin blockchain, has announced it is moving from the Cosmos ecosystem to Ethereum, citing the need to access a better tech stack and wider developer community.

Noble announced on Tuesday that it will be migrating its Cosmos SDK-based blockchain to a standalone EVM (Ethereum Virtual Machine) layer 1, planning to launch on March 18.

Noble is a venture capital-backed blockchain originally designed as a neutral liquidity hub for stablecoin and tokenized real-world asset issuance. 

Due to its evolution into a network supporting real end-user stablecoin applications and DeFi, the team saw the need to transition from its original Cosmos roots to a high-performance Ethereum-compatible L1, they stated. 

Noble claims to have processed more than $22 billion in transaction volume since 2023, has 30,000 monthly active users, and is the primary liquidity layer for over 50 blockchains.

Better tech stack, developer access, and scalability 

The rationale for switching to EVM was to access a better tech stack and open-source “Commonware” using the Rust-based blockchain framework and Reth Ethereum client, which offers superior performance, said the team.

They also said they wanted better user and developer accessibility, which EVMs provide, as it is where most crypto developers already work. 

There are also scaling limitations with Cosmos architecture, which were constraining product development, they said. 

Related: Ethereum powers $8T in stablecoin transfers in Q4, smashing record

Key features of the new chain include sub-500 millisecond transaction finality, permissionless smart contract deployment, dedicated payment lanes for prioritizing real-world payment transactions, and a focus on its own native stablecoin. 

New Noble blockchain architecture. Source: Noble

Crypto projects come around to Ethereum compatibility

The company has its own stablecoin, Noble Dollar (USDN), with a market capitalization of $36 million. Issuance peaked at $128 million in July 2025, but it has since declined 72% to current levels, according to CoinGecko. 

The move highlights a growing trend of crypto projects using Ethereum as their infrastructure layer. 

Last year in April, FIFA announced the migration of its NFT platform from Algorand to a new EVM-compatible chain. In June, the XRPL EVM sidechain officially launched on mainnet, Injective launched its EVM chain in November, while blockchains such as Sei have been looking at stronger EVM integration.  

Ethereum is the current industry standard and dominant network for stablecoins and tokenized RWA. It has a commanding market share of 66% when layer-2 and EVM chains are included, according to RWA.xyz.

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