Gate News reports that on March 6, TD Cowen stated that following the approval of a certain crypto company’s access to the Federal Reserve’s main account, more crypto companies are expected to gain similar permissions this year. The crypto company became the first to be authorized to connect to the Federal Reserve’s core payment system. The Kansas City Fed approved a one-year “limited use” account for it, with undisclosed restrictions based on its business model and risk profile. The company qualified for the application due to holding a Wyoming special purpose depository institution license and is classified as a “Tier 3” entity by regulators. TD Cowen noted that although banking industry organizations have opposed and may file lawsuits, they are unlikely to prevent such approvals. It is expected that the Federal Reserve will restrict the company’s credit services and that it may not be able to earn reserve interest. Other crypto companies with slower application progress may need to wait for the Federal Reserve to finalize its streamlined review framework.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitcoin Stalls at $77.8K Amid Japan Inflation Surge and Iran War Tensions
Gate News message, April 24 — Crypto markets weakened on Friday as Bitcoin hovered near $77,800 and Ethereum fell to $2,300 with a 24-hour decline of 0.8%. The uptrend that began Wednesday from $65,000 has visibly slowed, with Ethereum underperforming Bitcoin.
Market pressure stems from Japan's Mar
GateNews2h ago
Trump ordered the sinking of ships in the Strait of Hormuz, and Bitcoin’s rebound momentum weakened to 78k
U.S. President Donald Trump posted on Truth Social on April 24, announcing that the ceasefire agreement between Israel and Lebanon will be extended by three weeks. On the same day, he also ordered the U.S. Navy to “sink any vessel currently laying mines in the Strait of Hormuz,” and instructed the military to carry out mine-clearing operations with “three times the force.” Brent crude spot prices have returned above $100, and Bitcoin is trading near $78,000 under pressure and consolidating.
MarketWhisper4h ago
CME Fed Watch: April Rate Hold Probability Reaches 99%, June Scenario Odds Released
Gate News message, April 23 — According to CME Fed Watch data, the probability of the Federal Reserve keeping rates unchanged in April stands at 99%, with only a 1% chance of a 25 basis point rate hike.
Looking ahead to June, the odds show a 96.4% probability of maintaining current rates, 2.6% prob
GateNews7h ago
Money Markets Fully Price in Two ECB Rate Hikes by December, 50% Probability of Third Increase
Gate News message, April 23 — Money markets have fully priced in expectations of two European Central Bank (ECB) rate hikes by December, with a 50% probability of a third increase occurring.
GateNews19h ago
Market Increases Bets on BoE Rate Hikes, Pricing in 62 Basis Points for 2026
Gate News message, April 23 — Market participants have increased bets on Bank of England rate hikes, with traders now pricing in 62 basis points of increases for the remainder of 2026.
GateNews20h ago
Arthur Hayes Predicts Bitcoin Will Reach $500K With Fed Stimulus; MicroStrategy Adds $2.54B in BTC
Hayes: Fed liquidity will lift Bitcoin amid AI-driven wage pressure; 2028 target 1M. MicroStrategy adds 34k BTC to 815k; Saylor says 7.5% stake could hit $10M per BTC.
GateNews04-23 04:54
