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- 2/27/25: Bank of America Eyes Stablecoin 🇺🇸🚫🇰🇵
2/27/25: Bank of America Eyes Stablecoin 🇺🇸🚫🇰🇵

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Top News
Bank of America plans stablecoin launch if legislation passes
House Democrats propose ban on political memecoins
FBI confirms North Korea was behind $1.5B Bytbit hack

Specs’ Insights
1. Bank of America plans stablecoin launch if legislation passes
JUST IN: 🇺🇸 Bank of America plans to launch a USD-pegged stablecoin if lawmakers pass legislation.
— Whale Insider (@WhaleInsider)
2:41 PM • Feb 26, 2025
⌐◪-◪ → 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.
2. House Democrats propose ban on political memecoins
🇺🇸 TODAY: House Democrats reportedly set to introduce the MEME Act, a bill that would ban public officials from issuing or endorsing memecoins like $TRUMP.
— Cointelegraph (@Cointelegraph)
1:20 PM • Feb 27, 2025
⌐◪-◪ → 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!
3. FBI confirms North Korea was behind $1.5B Bytbit hack
JUST IN: 🇺🇸🇰🇵 FBI confirms North Korea is responsible for the $1.5 billion Bybit crypto hack.
— Watcher.Guru (@WatcherGuru)
12:21 AM • Feb 27, 2025
⌐◪-◪ → 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.

⛓️ Crypto & DeFi
Crypto losses from hacks surges 20x to $1.53B in February
Fake Web3 firms steal job seekers' crypto
Robinhood CEO advocates for tokenization
QuickNode launches $65M Layer-2 accelerator
Bitcoin miners could face reckoning post-halving
Phantom Wallet acquires token data platform SimpleHash
Pendle Finance introduces new yield strategies
Crypto malware spreads via fake GitHub repos
🏦 Wall Street & VC
PayPal aims for 20M merchants using PYUSD by 2025
BlackRock Bitcoin ETF sees 7 deay degative streak of $3B outflows
Solana futures ETFs listed by DTCC
Bitwise registers Aptos ETF entity
CoreWeave eyes $4B IPO filing
Core Scientific surges after $1.2B expansion
MARA reports $656M revenue, holds 44,893 BTC
Ondo Finance to bring RWAs to Mastercard
Standard Chartered warns of ETF outflows impacting Bitcoin
🚀 Venture Capital
Delta Blockchain founder unveils cross-chain startup
ZachXBT joins Paradigm as incident response advisor
Patrick McHenry joins a16z as senior advisor
Haun Ventures backs $63M funding for blockchain gift card firm
ZKP startup Ligero raises $4M seed round
🏛️ Legal & Regulatory
IRS crypto rule repeal moves forward in U.S. House
Scott Bessent hires Galaxy Digital counsel for crypto advice
Sen. Lummis says stablecoin bills are imminent
Gotbit CEO extradited for alleged market manipulation
Gemini SEC investigation closed says Cameron Winklevoss
Uniswap class action lawsuit dismissed
SEC & Justin Sun explore fraud case resolution
CFTC's Christy Romero stepping down after Quintenz's confirmation
🌎 Rest Of The World
UK introduces bill expanding crypto seizure powers
South Korea arrests four linked to crypto-related murder
Metaplanet raises ¥2.0B to buy more Bitcoin
🖼️ NFTs & Metaverse
Luca Netz shares insights on the future of Pudgy Penguins
Pump.fun memecoin activity sees rapid decline
Pump.fun X account hacked to promote scam tokens
Dogecoin price drops amid Musk-Trump alliance
PAXG & XAUT outperform as gold prices climb
Dave Portnoy says 'too many babies' in crupto to issue another memecoin
