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What happened on the crypto market this night?
• Stripe and Advent have proposed to buy PayPal for $53 billion.
• Morgan Stanley has updated its S-1 filings for spot Ether and Solana ETFs, with Coinbase as custodian and responsible for staking.
• U.S. Treasury Secretary Scott Bessent announced that the OFAC sanctioned several wallets linked to Iran’s central bank, freezing more than $130 million.
• Rob Witoff, head of the platform at Coinbase, said that 95% to 100% of the company’s code is now written with the help of AI.
• SEC Chair Paul Atkins said the agency is modernizing and clarifying its rules to attract innovators back to the United States.
• The SEC and its crypto unit met with Hyperliquid and XYZ LTD.
• Representative Bryan Steil said the Federal Reserve must publish the GENIUS Act rules before Saturday.