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⌐◪-◪ → TradFi is morphing into DeFi

Bank of America CEO Brian Moynihan just said they’ll issue their own stablecoin—if the U.S. government makes them legal. That’s a massive shift considering BoA’s assets under management are 10x the global stablecoin supply.

But his remarks are weirdly dismissive:

• He claims stablecoins are “no different than a money market fund” or a “bank account.”

• He questions “what it’s useful for.”

• Yet, he also admits, “it’s pretty clear there’s gonna be a stablecoin.”

So which is it, Brian? If they’re pointless, why are they inevitable? Could it be because they’re faster, more transparent, and simply better than the current system?

Either way, big banks moving into crypto is a fundamental shift. More liquidity, more adoption, and more vendors coming online to make spending crypto seamless.

I've said it before, but TradFi is destined to become nothing more than portals to the great shared financial backend—blockchain. The lines are already blurring.

I’m still sus of Moynihan, though—throwback to when Trump roasted him at WEF for debanking people. Brian’s response is very telling.

⌐◪-◪ → Are political memecoins about to get banned?

House Democrats are reportedly set to introduce the MEME Act, a bill that would ban public officials from issuing or endorsing memecoins. The bill would apply too, the President, Vice President, Members of Congress, Senior executive branch officials, and their spouses and children.

Clearly, this comes after $TRUMP, $MELANIA, and the infamous $LIBRA turned political memecoins into billion-dollar overnight sensations.

The concern? Political bribery. As Vitalik Buterin pointed out earlier this year, memecoins are the perfect vehicle for anonymous, untraceable influence-peddling.

Should we ban political memecoins or let them run wild? Join the debate in Specs.Chat!

⌐◪-◪ → FBI confirms North Korea hacked Bybit

The FBI just officially attributed the $1.5B Bybit hack to North Korea, specifically the cybercriminal group TraderTraitor.

Forensic findings show the hackers compromised a Safe {Wallet} developer’s machine to gain access to Bybit’s funds. Here’s how it happened:

• A Safe dev machine was breached.

• Hackers gained access to AWS and their S3 bucket.

• They injected malicious JavaScript into Bybit’s signing process.

• The script altered transaction content in real time to drain funds.

The FBI is now coordinating with private sector entities, including RPC node operators, exchanges, and DeFi services, to block transactions linked to TraderTraitor.

While February saw crypto thefts spike 20x, at least industry response times are improving. Never a dull day in crypto.

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