Coinbase’s Base blockchain has surpassed Solana in daily token launches, driven by a surge in creator coin activity on the social app Zora.

The UK’s Financial Conduct Authority will allow retail investors to access crypto exchange-traded notes (cETNs) starting in October, ending a ban that has been in place since 2021.

Andreessen Horowitz partner Alex Rampell said major U.S. banks are using high fees and data restrictions to choke off access to fintech and crypto apps, a tactic he’s calling “Operation Chokepoint 3.0.”

Top stories in the Crypto Roundup today:

• Coinbase’s Base Overtakes Solana in Token Creation
• UK Regulator to Open Crypto ETNs to Retail Investors in October
• a16z Warns Big Banks Are Waging ‘Chokepoint 3.0’ Against Crypto and Fintech

Coinbase’s Base Overtakes Solana in Token Creation

Coinbase’s Base blockchain has surpassed Solana in daily token launches, driven by a surge in creator coin activity on the social app Zora.

Zora lets users mint tradable tokens from their posts. Each token has a 1 billion supply, with half allocated to the creator over time and 1% of each trade routed back to them in ZORA tokens.

The momentum followed Coinbase’s July rebrand of its Base App into a “SocialFi” platform, combining social feeds with token tools. Since then, Zora users have minted over 1.6 million coins, traded by nearly 3 million wallets and generating $470 million in volume.

While some see it as a new model for creator monetization, others argue much of the activity is driven by short-term speculation.

UK Regulator to Open Crypto ETNs to Retail Investors in October

The UK’s Financial Conduct Authority will allow retail investors to access crypto exchange-traded notes (cETNs) starting in October, ending a ban that has been in place since 2021.

Crypto ETNs track assets like bitcoin and ether but are traded on traditional stock markets. Until now, only professional investors could legally access them in the UK due to concerns about volatility and consumer risk.

Under the new rules, recognized exchanges can list ETNs that meet standards for transparency and investor protection. While the FCA still labels the products high risk, it says proper safeguards can make them suitable for informed retail investors.

a16z Warns Big Banks Are Waging ‘Chokepoint 3.0’ Against Crypto and Fintech

Andreessen Horowitz partner Alex Rampell said major U.S. banks are using high fees and data restrictions to choke off access to fintech and crypto apps, a tactic he’s calling “Operation Chokepoint 3.0.”

Rampell said banks are charging consumers and platforms to access basic account data or move money to services like Coinbase or Robinhood. That could make using alternatives too costly, hurting competition.

JPMorgan, which receives nearly 2 billion data requests from third parties each month, has defended the fees as a way to curb misuse. Critics, including Gemini co-founder Tyler Winklevoss, argue the charges could “bankrupt” smaller fintechs.

Rampell says this behavior violates the spirit of Section 1033 of the Dodd-Frank Act, which guarantees consumers access to their financial data. He’s calling on the Trump administration to step in before the practice becomes widespread.

“Many banks have hostages, not customers,” Rampell said.

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