The Quiet Push by Crypto Firms to Get Inside the Federal Reserve

Key Points

1. Crypto super PACs, like Fairshake, have spent heavily in elections, backing pro-crypto candidates and amassing over $100 million for future campaigns.

2. Three crypto-native firms—WisdomTree Digital Trust, Standard Custody & Trust Company, and Commercium Financial—have applied for Federal Reserve master accounts to access the Fed's payment systems.

3. The House plans to vote on the GENIUS Act and the CLARITY Act in July, as part of broader legislative efforts related to cryptocurrency.

4. Fidelity Digital Assets and other firms are seeking national trust bank charters from the OCC, aligning with President Trump's 'One Big Beautiful Bill' initiative.

5. The crypto industry's political and regulatory efforts aim to secure favorable legislation and banking access, continuing momentum from the 2024 elections.