Schwab, the Crypto Powerhouse

Charles Schwab has announced that it will start letting people trade Bitcoin and Ethereum directly, a move that could change the way regular investors get into crypto.
The service will roll out in stages: first employees, then a small group of early‑access customers, and finally everyone else. The company will handle custody through Paxos, but the fee per trade is 75 basis points – much higher than what other crypto exchanges charge.

With $11.8 trillion in client assets and 16,000 advisors, Schwab is now a serious competitor to the likes of Coinbase and Robinhood. It isn’t just a bank; it is stepping into the world of digital assets, following Goldman Sachs and Morgan Stanley, which have both filed for or launched Bitcoin ETFs.

Regulatory Backlash

Meanwhile, the CFTC chair is under fire from senators who want more control over prediction markets and are concerned about an offshore crypto exchange called Hyperliquid that is pulling trading volume out of U.S. regulated venues. The chair insists the agency has exclusive authority over such markets, but critics say a new law is needed.

Solana’s Rescue Effort

Tether stepped in to help the Solana‑based trading platform Drift after it lost about $285 million in a hack. Tether is investing $127.5 million of a total $147.5 million package to recover user losses. Drift will now settle trades in USDT instead of the more popular USDC, giving Tether a bigger role on Solana. Circle, another stablecoin issuer, was criticized for not freezing stolen funds quickly enough.

NFT Market Contraction

The NFT world is shrinking. Foundation, once a leading marketplace from the 2021 boom, has announced it will shut down after a failed sale. Users have one year to move their assets elsewhere. This follows the closures of other platforms like MakersPlace, Nifty Gateway, and Magic Eden, leaving OpenSea as the only major player.

Market Snapshot

• Bitcoin is trading near $75,700 after a brief rally.
• Ethereum and Solana are up about 1–3 %.
• Stocks have closed green for a record‑tying 12 days, and some states are looking at investing state funds in Bitcoin.
• A $25 million loss from a Polkadot‑Ethereum bridge hack has shaken confidence.

Broader Ecosystem

• Bitcoin ETFs saw $26 million in new money, and Ethereum ETFs added $18 million.
• Some miners sold a large amount of Bitcoin in the first quarter, while meme coins like Dogecoin and Shiba Inu have small gains.
• New projects such as Anthropic’s coding AI and Pumpcade’s token‑to‑equity program are also gaining attention.

Overall, the crypto landscape is evolving fast: banks are entering, regulators are debating new rules, and platforms are closing or pivoting. Investors need to stay alert as these changes reshape the market.