View moreIn This Week’s Recap:
- FDIC Clears Banks For Crypto
- HashSphere To Launch
- Hacker Falls For Tornado Scam
- Secura T(ag) Claim Available
- Hot Topics
The Big Idea
FDIC Clears Banks for Crypto
The FDIC has cleared banks under its supervision to engage in Bitcoin and crypto-related activities without needing prior approval, easing previous restrictions. This shift, announced on March 28, 2025, allows banks to service digital asset firms, provided they manage risks appropriately. The move revokes a 2022 policy that required banks to notify the FDIC before interacting with crypto. This change follows a similar decision by the OCC earlier this year, signaling a broader acceptance of digital assets in the US financial system. FDIC acting chair Travis Hill emphasized this as a move away from outdated regulations and toward more progressive approaches to emerging technologies.
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Crypto News
HashSphere to Launch
Hashgraph is set to launch HashSphere, a private, permissioned blockchain designed for highly regulated industries like finance and payments, with a debut planned for Q3 2025. Built on Hedera’s technology, HashSphere will enable secure, low-cost cross-border transactions with stablecoins, while ensuring regulatory compliance. It bridges private and public distributed ledgers, offering interoperability with Ethereum-based applications and Hedera’s tools like the Token and Consensus Services. The platform is already collaborating with early partners, including Australian Payments Plus, to provide enhanced privacy and compliance for managing tokenized assets and AI-powered services.
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CEX, Rugs, Block and Roll
Hacker Falls for Tornado Scam
In an ironic twist, the hacker behind the February $9.5 million zkLend exploit claims they lost a massive 2,930 ETH (around $5.4 million) to a phishing site while attempting to launder the stolen funds. The hacker admitted to the mistake in an on-chain message, saying they were “devastated” and apologizing for the havoc caused. They suggested zkLend focus on the phishing site owners to recover the funds, but given the hacker’s history of evading responsibility (including ignoring zkLend’s 10% bounty offer), we’re not exactly shedding any tears. Some in the crypto community are skeptical, with many suspecting the hacker might be using this phishing story as a cover-up to avoid further scrutiny.
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BankSocial Corner
Secura T(ag) Claim Available
The Secura T(ag) claim is now live in the BankSocial app! If you’re an NFT holder, you can now claim your free Secura T(ag) hardware, which adds an extra layer of security to the device you pair it with. Simply head to Settings → Secura Tag → Claim in the app to get started. This hardware tag ensures that sensitive wallet actions, like sending funds, can only happen when the tag is nearby. If you have multiple NFTs, your first tag is ready to claim now, with additional tags coming soon. Don’t miss out on this security feature — claim yours today!
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While anyone can access the BankSocial ecosystem, certain features including the exchange require Verifiied®- our simple KYC solution. Login to My.BankSocial.io and start the process now.
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Hot Topics
What’s on everyone’s mind?
The HBAR Foundation partnered with OnlyFans to submit a last minute bid for TikTok, eliciting a variety of responses online. Other major companies, including Amazon are also launching bids.
BankSocial will be attending Google Cloud Next in Vegas, this upcoming week. Let us know if you will be there!
Fidelity has launched a retirement plan allowing direct investments to crypto in their “fidelity crypto IRA’s”. The crypto community responded positively, as there are currently limited options for investors to include crypto in their retirement plans.
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All The Love and All The Power!
was originally published in BankSocial News on Medium, where people are continuing the conversation by highlighting and responding to this story.
