Donald Trump Jr. believes crypto to be the future of American dominance, he said in a conversation at the Ondo Summit in New York City on Thursday. "I think it's perhaps the future of American hegemony, in terms of our economic status, our economic might," Trump Jr. said.See all newslettersThe son of the U.S. president made a surprise appearance at the event after World Liberty Financial (WLF), the crypto project backed by the Trump family, Ondo's native cryptocurrency (ONDO) earlier today. "We do have to create that framework in which [crypto], which I believe to be the future of finance, where we can play, where there is an understanding of what that is but also where it's not so over-regulated by people who don't know what they're talking about that you lose everything that it stands for," Trump Jr. said.Chase Herro, co-founder of World Liberty Financial, also said that the protocol will soon launch a "strategic reserve" of crypto assets. "We are big builder fans."WLF made headlines over the past months investing in multiple tokens including ETH, wrapped BTC, Tron's TRX, AAVE, Chainlink's LINK among other. World Liberty Financial acquired about $470,000 worth of ONDO tokens today soon after Ondo Finance announced plans to , a layer-1 blockchain designed for tokenized assets.During U.S. morning hours, Trump's social media company revealed that it was looking to (ETFs), one of them which would track the price of bitcoin (BTC) called the Truth.Fi Bitcoin Plus ETF.

Judge Ana Reyes began the hearing with a blistering critique of the FDIC’s behavior in the ongoing lawsuit filed last year.In recent days, the FDIC has released hundreds of documents related to its pause letters to comply with Reyes’ previous accusation that it wasn’t acting in “good faith.”

At the close of the US stock market, the Dow Jones Industrial Average fell 0.28%, the Nasdaq rose 0.51%, and the S&P 500 index rose 0.36%.

The chief lawyer of U.S. crypto exchange Coinbase (COIN) testified about the abuse of authority from regulators who erected barriers between banks and crypto firms in a hearing of the House Financial Services Committee on Thursday, marking the latest advance in the digital assets industry's reversal of policy resistance in Washington.Coinbase Chief Legal Officer Paul Grewal's complaints about "regulation by exhaustion" were met with wide agreement from Republican lawmakers eager to criticize the Biden administration's crypto performance. The lawmakers also agreed with Grewal's view that financial regulators such as the FDIC publicly insisted that they weren't against crypto while privately directing banks away from the industry.See all newslettersThe House hearing, led by the panel's oversight subcommittee, came directly on the heels of a Wednesday Senate Banking Committee hearing that also dug into crypto "debanking" in the U.S."Biden regulators resorted to vague, interpretive regulatory letters threatening banks with negative examination scores and fines if they continue their partnership with digital asset companies," said Representative Dan Meuser, a Pennsylvania Republican who leads the House subcommittee. "This is serious overreach, one that not only undermines innovation, but directly harms consumers by restricting their access to new and beneficial financial products."Meanwhile, the panel's Democrats flagged concerns with President Donald Trump's own crypto business efforts and pushed back on the argument that cautioning banks against ties with the volatile, fraud-ladened sector was appropriate."Regulators asking banks to consider the risk associated with the crypto currency industry does not amount to debanking, as my Republican friends are indicating," said Representative Al Green, a Texas lawmaker who is the subcommittee's ranking Democrat. "Regulators simply urged banks to exercise caution when dealing with this emerging and potentially risky industry."As the issue was placed under the light of congressional scrutiny for the second day running, Coinbase has been basking in a combination of positive court sentiment and an FDIC policy reversal. The company's legal pursuit of FDIC documents under the Freedom of Information Act have not only gone its way, but a judge in the U.S. District Court for the District of Columbia was incensed about the way the FDIC resisted the request for its communications with banks about crypto.U.S. Regulator Told Banks to Avoid Crypto, Letters Obtained by Coinbase RevealAn FDIC lawyer had asked Judge Ana Reyes to give some extra time while the agency adjusts under new leadership, but the judge refused, saying, "I don't care who your management is." She contended the FDIC's position on the case had been "laughable," according to a court transcript, and that she wanted to not only refuse the delay but to "speed it up dramatically." The judge also demanded answers on accusations that the regulator may have destroyed documents that were related to the case."Do you understand that right now if I find — and there's going to be an investigation — that any documents were destroyed or if we can't figure out whether any documents were destroyed, you guys are going to come in for some serious sanctions?" the judge asked.The FDIC jumped to release more documents before the court's deadline this week, and Acting Chairman Travis Hill, who President Donald Trump elevated as he took office last month, said he ordered the agency's staff to review supervisory communications with banks about crypto. The regulator publicly posted "a large batch of documents" in the meantime, he said. "Acting Chairman Hill has begun to right this wrong," said Coinbase Chief Legal Officer Paul Grewal in a posting on social media site X, adding that "much more discovery is required."While the FDIC has taken much of the heat for the U.S. banking regulators' efforts to limit banks' exposure to crypto clients, Senator Cynthia Lummis revealed an internal Federal Reserve document in a Wednesday hearing that she said provided "hard proof of Operation Chokepoint." That's the name the industry has adopted to characterize the set of informal, behind-the-scenes actions undertaken by regulators to pressure U.S. banks to debank crypto. The Fed's policy seemed to suggest regulatory scrutiny for bankers who engage in controversial speech or activities.The interest from the House Financial Services Committee will continue next week with a February 11 hearing entitled "A Golden Age of Digital Assets: Charting a Path Forward." That "Golden Age" phrase echoes what Trump's crypto czar, David Sacks, said was coming for the industry in his first press conference.

If you only use crypto, then all your transactions are on-chain. (It doesn't matter which blockchain, you can use multiple/any.)