Today’s market highlights include President Trump’s move to allow crypto in 401(k) plans, the appointment of crypto-friendly economist Stephen Miran to the Federal Reserve Board, discussions on Bitcoin reserves backed by gold, and dollar weakness fueled by Fed rate cut hints. The Bank of Japan is considering interest rate hikes again, with one member suggesting a possible increase before year-end. Here’s a closer look at some key developments: 1) **Regulatory News:** The New York Department of Financial Services (NYDFS) fined Paxos $26.5 million for compliance failures related to its partnership with Binance. ProShares launched the Ultra CRCL ETF, offering 2x daily exposure to Circle’s stock. 2) **Ripple Expansion:** Ripple is acquiring Rail, a stablecoin payments platform, for $200 million to bolster its RLUSD ecosystem.