Rep. French Hill pledges to investigate debanking following crypto executives' complaints

[Bank of America CFO: Regulatory Clarity Enables Development of Stablecoins for Clients] Foresight News reports, according to Zhitong Finance, the Chief Financial Officer of Bank of America stated, 'Regulatory clarity enables us to develop stablecoins for our clients. We can develop them independently or collaborate with the industry to develop them.'

[Polygon Plans to Increase Transaction Capacity by 33% in Q4] Polygon Labs plans to increase the gas limit per block in Q4 this year, boosting single-block transaction capacity by 33% to meet the growing demand in the stablecoin market. This upgrade will raise transaction capacity from 1,071 to 1,428 per block and optimize the validation architecture to reduce hardware costs. Polygon's Vice President of Engineering stated that this move aims to alleviate congestion and support stablecoin payments and tokenized asset transfers. Currently, the stablecoin reserves on Polygon exceed $3 billion, with monthly transaction volume growing nearly 40% this year. The stablecoin market capitalization could potentially reach $2 trillion in the future.

[The Ether Machine Ethereum Treasury Company Submits S-4 Form Application to the U.S. SEC] According to Golden Finance, The Ether Machine Ethereum Treasury Company has submitted an S-4 form registration statement application to the U.S. SEC, seeking a business merger with Nasdaq-listed company Dynamix Corporation to become an Ethereum treasury company listed on the U.S. stock market. It is reported that The Ether Machine has also engaged KPMG to initiate audit work.

Hyperscale Data announced that it will sell all its XRP holdings and transition into a company focused on a Bitcoin treasury strategy. The company currently holds 15.0022 Bitcoins, with a market value of approximately $1.731 million, and plans to further increase its Bitcoin holdings through the open market.

[Openbank, a subsidiary of Santander, launches cryptocurrency trading services] According to Foresight News, as reported by unfolded, Openbank, the digital bank under Spain's Santander, has announced the launch of cryptocurrency trading services for retail customers. The service will allow users to trade Bitcoin and Ethereum, with plans to add more crypto assets in the future.