Some of the largest U.S. banks are in early talks to develop a joint stablecoin, a move that could redraw the battle lines between traditional finance and crypto firms. 

A dinner with president Donald Trump for top holders of his personal memecoin sparked protests and raised questions about political influence and foreign participation in the crypto industry.

The first U.S.-based exchange-traded fund (ETF) tracking XRP futures began trading Thursday on the Nasdaq.

Top stories in the Crypto Roundup today:

• Major Banks Consider Joint Stablecoin to Counter Crypto Rivals
• Protesters Target Trump’s Memecoin Dinner
• First U.S. XRP Futures ETF Launches on Nasdaq

Major Banks Consider Joint Stablecoin to Counter Crypto Rivals

Some of the largest U.S. banks are in early talks to develop a joint stablecoin, a move that could redraw the battle lines between traditional finance and crypto firms. 

The idea, still in its early stages, is being floated among institutions connected to JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo, through payment infrastructure groups like Early Warning Services and the Clearing House.

The initiative aims to harness blockchain-backed stablecoins to improve the speed and efficiency of transactions.

The push comes amid rising concerns in the banking sector about losing ground to stablecoins issued by crypto-native firms or even large tech companies. If implemented, the bank-backed coin could help preserve banks’ roles in the payments ecosystem while providing a familiar onramp into blockchain-based finance.

Protesters Target Trump’s Memecoin Gala

A dinner with president Donald Trump for top holders of his personal memecoin sparked protests and raised questions about political influence and foreign participation in the crypto industry.

Held Thursday evening at Trump National Golf Club near Washington, D.C., the exclusive gathering drew guests including retired NBA player Lamar Odom and Chinese-born crypto entrepreneur Justin Sun. 

Outside, roughly 100 demonstrators shouted "Shame!" and "America is not for sale," waving signs condemning what they called political grifting. Inside, tables were set with hats and plaques reading “Fight Fight Fight,” echoing the name of the company behind the TRUMP memecoin.

In his speech, Trump reaffirmed his pledge to make the U.S. a global leader in crypto, telling attendees, “You believe in the whole crypto thing, and a lot of people are starting to believe in it.”

First U.S. XRP Futures ETF Launches on Nasdaq

The first U.S.-based exchange-traded fund (ETF) tracking XRP futures began trading Thursday on the Nasdaq.

Launched by Volatility Shares, the XRPI ETF provides one-to-one exposure to XRP futures, with a minimum of 80% of its assets allocated to these contracts and other XRP-linked exchange-traded products. The fund carries a net expense ratio of 0.94% after fee waivers and trades under the ticker symbol XRPI.

Volatility Shares is also preparing to launch a leveraged 2x XRP futures ETF, aiming to build on momentum generated by similar offerings. The Teucrium XXRP fund, which debuted in April, has already drawn $121 million in assets under management.

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