Hey there, PoI readers! 💫

It's your favorite crypto connoisseur, Mochi, back with another serving of tantalizing tech and web3 news. From StableChain's USDT-powered mainnet launch and Saylor's bold Bitcoin banking pitch to the OCC opening doors for crypto charters and Nvidia's controversial chip exports to China, we've got a lot to unpack. So, buckle up and get ready for a wild ride through the wonderland of digital assets and geopolitical chess moves!

INTEL BRIEF

🟧 Tether-backed Stable protocol launches StableChain mainnet with USDT gas fees and a new governance token following a $28M seed round backed by Bitfinex and major crypto players.

🟧 Michael Saylor proposes Bitcoin-backed digital banking systems to nation-states, claiming they could attract trillions in deposits through high-yield accounts backed by overcollateralized BTC reserves.

🟧 OCC chief Jonathan Gould says crypto companies deserve equal treatment in federal banking charter applications, arguing there's "no justification" to treat digital assets differently than traditional finance.

🟧 Department of Commerce approves Nvidia H200 chip exports to China with a 25% revenue cut, despite Congressional concerns and a proposed bipartisan bill to block advanced AI chip sales.

StableChain Launches With USDT Powered Gas Fees and Everyone's Talking About It

Tether-backed Stable protocol has officially launched StableChain, a shiny new layer-1 blockchain that's doing something pretty wild—it uses USDT for gas fees instead of those headache-inducing volatile tokens we've all grown to love (or rage at).

Here's the deal: StableChain is specifically designed for stablecoin transactions, which means no more crying over your transaction costs fluctuating like a rollercoaster. The network went live on Monday alongside the Stable Foundation and the STABLE governance token, cleverly separating network security from the payment flows that settle in USDT. It's like keeping your security guard separate from your cashier—just makes sense, right?

But wait, there's more! This launch didn't come out of nowhere. The project pulled in over $2 billion from more than 24,000 wallets during a pre-deposit campaign (talk about popular!), and secured a $28 million seed round with some heavyweight backers including Bitfinex, Hack VC, and even Tether CEO Paolo Ardoino himself, who's also advising the project. Nothing says "we believe in this" like putting your money where your mouth is!

CEO Brian Mehler dropped a reassuring tidbit to Cointelegraph, mentioning they've been keeping "frequent contact with governing bodies" about stablecoin regulations worldwide. Smart move—nobody wants regulatory drama crashing the party.

This launch is believed to be part of a bigger trend. The stablecoin market cap has exploded from $198.76 billion to $308.45 billion in just a year (that's a 55% increase for those keeping score). Companies like Plasma (raised $24M in February), Circle (planning their Arc blockchain), and even Stripe (building Tempo network) are all jumping into the stablecoin-specific blockchain game. Seems like everyone figured out that Ethereum's 3-minute finalization time isn't exactly ideal for payments!

StableChain mainnet launches with USDT gas fees, eliminating volatile transaction costs for stablecoin users

$28M seed round backed by Bitfinex, Hack VC, and Tether executives; pre-launch campaign attracted $2B+ from 24,000+ wallets

Stablecoin market surges 55% to $308B, driving major players like Circle and Stripe to build dedicated payment blockchains

Michael Saylor Wants Countries to Build Bitcoin Banks Worth Trillions

Michael Saylor is back at it again, and this time he's not just stacking sats—he's pitching entire countries on building Bitcoin-backed digital banking systems. Speaking at the Bitcoin MENA event in Abu Dhabi, the Strategy executive chairman laid out a vision that's either brilliantly innovative or absolutely bonkers, depending on who you ask (spoiler: opinions vary wildly).

Here's Saylor's big idea: Nations could create regulated digital bank accounts offering higher yields than traditional deposits by using overcollateralized Bitcoin reserves and tokenized credit instruments. Why? Because apparently, people are "disgusted" with their current bank accounts, and honestly, he's not wrong. Japanese, European, and Swiss bank deposits offer basically zilch in returns, while US money-market rates hover around 400 basis points—which explains why everyone's flocking to corporate bonds instead.

Saylor's proposed structure would blend roughly 80% digital credit instruments with 20% fiat currency, topped with a 10% reserve buffer to smooth out volatility. The whole thing would be backed by digital credit with 5:1 overcollateralization held by a treasury entity. He believes a country adopting this model could attract "$20 trillion or $50 trillion" in capital flows and become "the digital banking capital of the world." No pressure, right?

Of course, this pitch came right after Saylor revealed that Strategy purchased 10,624 BTC for $962.7 million, bringing their total holdings to a jaw-dropping 660,624 BTC (worth roughly $49.35 billion at an average cost of $74,696 per coin). The guy practices what he preaches!

But here's where it gets spicy: Not everyone's convinced. Strategy already launched STRC in July—a money-market-style preferred share offering around 10% variable dividend rates and designed to stay near par value while backed by their Bitcoin operations. It's grown to about $2.9 billion in market cap, but skeptics are side-eyeing the whole thing. Bitcoin's volatility is the elephant in the room—while BTC has crushed it over five years with a 1,155% gain, it's currently sitting around $90,700, about 28% below its October all-time high of $126,080 and roughly 9% lower than a year ago.

Former Salomon Brothers trader Josh Man didn't mince words, calling Saylor's moves "folly" and warning that STRC could face a liquidity crisis. His hot take? "Hiking rates on STRC to maintain a peg isn't going to work when depositors want their money back out." Ouch.

Saylor pitches nation-states on Bitcoin-backed digital banks offering high yields through overcollateralized BTC reserves and tokenized credit

Strategy now holds 660,624 BTC after latest $962.7M purchase; their STRC product has grown to $2.9B market cap despite skepticism

Critics warn of volatility risks: Bitcoin down 28% from ATH and 9% year-over-year, though up 1,155% over five years

The OCC Just Told Crypto Companies They Can Finally Get Banking Charters

Jonathan Gould, head of the Office of the Comptroller of the Currency (OCC), just told a blockchain conference that crypto companies seeking US federal bank charters should be treated the exact same way as traditional financial institutions. And honestly? It's about time someone said it out loud.

Speaking on Monday, Gould acknowledged that some new charter applicants in the digital or fintech spaces might look like they're offering "novel activities" for a national trust bank. But here's his reality check: "custody and safekeeping services have been happening electronically for decades." In other words, crypto isn't as radical as everyone's making it out to be. His money quote? "There is simply no justification for considering digital assets differently." Mic. Drop.

The OCC, which regulates national banks, has historically side-eyed crypto companies like they're the sketchy cousin at Thanksgiving dinner. Currently, only two crypto banks hold OCC licenses: Anchorage Digital (chartered since 2021) and Erebor (which snagged a preliminary charter in October). But Gould's signaling that this exclusive club might be getting some new members soon.

Here's the juicy part: The OCC has received 14 applications to start new banks this year alone—"including some from entities engaged in novel or digital asset activities." That's nearly equal to the number they got over the last four years combined. Apparently, crypto companies are really interested in playing by the rules now, and Gould's here for it. He said entities dealing with digital assets and novel technologies "should have a pathway" to become federally supervised banks, adding that the banking system has the "capacity to evolve from the telegraph to the blockchain." (Because nothing says progress like comparing blockchain to 19th-century communication tech, right?)

But not everyone's thrilled. Gould noted that banks and financial trade groups have raised concerns about crypto companies getting charters and whether the OCC can actually oversee them properly. His response? Basically, "chill out." He argued that such concerns "risk reversing innovations" that could better serve customers and support local economies. Plus, the OCC has already been supervising a crypto-native national trust bank for years, so they've got experience under their belt.

Gould wrapped up by mentioning that the regulator hears from existing national banks "on a near daily basis" about their own innovative products and services. Translation: Everyone wants to innovate, and the OCC is ready to supervise it all in a "fair and even-handed manner." Whether skeptical banks believe that remains to be seen!

OCC chief declares "no justification" for treating crypto companies differently than traditional banks in charter applications

14 new bank applications this year include digital asset entities—nearly matching the previous four years combined

Only 2 crypto banks currently licensed (Anchorage Digital, Erebor), but pathway for more appears to be opening despite traditional banking sector concerns

Nvidia Got Approved to Sell Advanced Chips to China and Congress Is Furious

The Department of Commerce has officially given Nvidia the green light to ship H200 chips to China—the advanced AI chips, not those watered-down H20s Nvidia cooked up specifically for the Chinese market. But before you think this is a free-for-all, there's a catch: the US is taking a 25% cut of these sales, and Nvidia can only ship H200s that are roughly 18 months old. You know, slightly used, like a gently worn designer handbag.

An Nvidia spokesperson wasted no time praising the decision, saying they "applaud President Trump's decision to allow America's chip industry to compete" and that offering H200s to approved commercial customers vetted by the Department of Commerce strikes a "thoughtful balance that is great for America." Translation: cha-ching, but make it patriotic!

This news dropped just a week after US Commerce Secretary Howard Lutnick said the decision was in President Donald Trump's hands, and apparently Trump decided to pull the trigger. He even claimed on Truth Social that Chinese President Xi Jinping "responded positively" to the H200 news. Everyone loves a good trade deal, right?

But here's where things get messy: Congress is NOT happy. On December 4, Republican Senator Pete Ricketts (Nebraska) and Democratic Senator Chris Coons (Delaware) introduced the Secure and Feasible Exports Act (SAFE) Chips Act, which would block the export of advanced AI chips to China for more than two years. The bill would require the Department of Commerce to deny any export license for 30 months. It's unclear when legislators will vote on this proposed bill, but the timing is chef's kiss awkward now that the Trump administration already greenlit the H200 sales.

The Trump administration's stance on chip exports has been, let's say, a bit inconsistent. Back in April, they hit companies like Nvidia with licensing requirements, then in May they rescinded a Biden administration rule that would've regulated AI chip exports. By summer, the US government signaled companies could send chips to China as long as they got a 15% revenue cut (which apparently got bumped to 25% now), using chips as a bargaining tool in trade talks.

But wait, there's more drama! In September, China's Cyberspace Administration straight-up banned domestic companies from buying Nvidia's chips, forcing Chinese companies to rely on less advanced domestic options from Alibaba and Huawei. So now we're in this weird situation where the US wants to sell chips, but China kinda-sorta banned them anyway. Classic geopolitical chess!

Department of Commerce approves Nvidia H200 chip exports to China (18-month-old models only) with US taking 25% revenue cut

Bipartisan Congressional bill proposed to block advanced AI chip exports for 30+ months, citing national security concerns

China banned domestic companies from buying Nvidia chips in September; Trump claims Xi "responded positively" to latest H200 deal

And that's a wrap, my lovely PoI readers! I hope this edition left you feeling informed, entertained, and maybe even a little bit richer (in knowledge, of course). From stablecoin infrastructure explosions to nation-state banking proposals and regulatory plot twists, today's crypto world is anything but boring. Remember to stay curious, stay informed, and keep spreading the love. Until next time, this is Mochi, signing off with a virtual high-five!

P.S. Don't forget to share your thoughts, questions, and favorite crypto puns with us. very voice matters in the PoI community! 📣❤️ Share the newsletter

🍨📰 Catch you in the next issue! 📰🍨