Crypto Market Update: Circle Surges After Securing Federal Trust Bank Charter

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Crypto Market Update: Circle Surges After Securing Federal Trust Bank Charter

July 08, 2026 — 04:05 pm EDT

Written by Meagen Seatter,Giann Liguid for Investing News Network ->

Here's a quick recap of the crypto landscape for Friday (July 10) as of 10:00 a.m. UTC.

Bitcoin price update

Bitcoin price chart

Ether and altcoin price update

Today's crypto news to know

Bitcoin price update

Bitcoin (BTC) was priced at US$64,306.73, up by 2.7 percent over the past 24 hours.

Bitcoin price chart

Chart via Investing News Network

24 hour Bitcoin price performance, July 9 to 10, 2026.

Ether and altcoin price update

Ether (ETH) was priced at US$1,789.05, trading 3.5 percent higher over the last 24 hours.

XRP (XRP) was priced at US$1.11, trading 1.3 percent higher over the past 24 hours.

Solana (SOL) was trading at US$79.11, trading 1.7 percent higher over the past 24 hours.

Today's crypto news to know

Circle to launch first national digital currency trust bank

Circle Internet Group achieved a major regulatory breakthrough on Friday after the US Office of the Comptroller of the Currency authorized the creation of its own national trust bank.

The highly anticipated approval led to a 13 percent premarket surge for Circle's stock as investors cheered the company's reduced reliance on external commercial banking partners.

The newly chartered entity will operate under the name Circle National Trust and function under direct federal banking oversight.

Historically, the massive cash and short-term USTreasury reserves backing Circle's flagship USDC stablecoin have been managed by third-party financial institutions. With this trust bank charter, Circle can eventually transition to holding those multibillion-dollar reserve assets under its own federally regulated custody.

Under the new regulations, traditional players such as banks and institutional investors will now find it substantially easier to utilize Circle's digital asset custody and blockchain-based payment infrastructure.

Polymarket files for US broker license

Polymarket is pushing to expand its regulated presence in the US by seeking federal approval to introduce leveraged margin trading, according to a report by Bloomberg.

The prediction market operator officially submitted an application for a Futures Commission Merchant (FCM) license on July 3 through its corporate affiliate, Coming Home GBA LLC.

If granted, the license would allow eligible users to trade event contracts without fully collateralizing every position.

Kalshi, one of the firm's direct competitors, secured its own FCM license earlier this year to build a regulated domestic brokerage framework.

However, before Polymarket can legally roll out margined contracts, the company must also convince the Commodity Futures Trading Commission to approve necessary amendments to its internal rulebook.

North Carolina recognizes CFTC authority over prediction markets

North Carolina has officially bucked a widening state-level crackdown on prediction markets by formally acknowledging the exclusive jurisdiction of federal commodities regulators.

Governor Josh Stein on July 7 signed Senate Bill 257, folding the regulatory protections into the state's 2026 budget. The new statute explicitly declares that any prediction market registered and licensed by the Commodity Futures Trading Commission can operate legally within North Carolina borders.

State lawmakers are leaving the heavy regulatory oversight to Washington, opting instead to simply levy a flat 6 percent tax on operators' net trading fee revenue derived from state residents starting in 2027.

This hands-off approach contrasts sharply with the state's aggressive stance toward traditional sports bookmakers, who just saw their gross wagering revenue tax hiked from 18 percent to 23 percent.

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