This episode examines the Federal Reserve’s formal withdrawal of twenty twenty-three guidance restricting uninsured banks from crypto services, the DTCC’s U.S. Treasury on-chain settlement pilot using Canton Network, and Coinbase’s platform expansion into stock trading, prediction markets, and perpetual futures. The briefing covers three hundred billion dollars in Bitcoin distribution from long-term holders, DeFi protocol liquidity contraction, and institutional infrastructure shifts across Hong Kong virtual asset ETFs and compliant settlement architecture. Operators gain clarity on regulatory friction points, platform consolidation dynamics, and structural distribution flows reshaping capital allocation across crypto and traditional markets.