PDAXScope: BTC slips, ETH nears ATH, Paxos eyes bank charter

Bitcoin slips after hitting record high (Financial Times)

Bitcoin climbed to a new peak of $124,480 on Thursday after a rally powered by scores of companies racing to buy BTC. However, prices fell back after data showed a bigger than expected rise in US wholesale prices. 

What’s Driving Ethereum’s Surge – And Can It Last? (Decrypt)

This week, ETH broke $4,700 for the first time since 2021. Experts and analysts weigh in on what is fueling the surge. Others caution that the token is also dependent on macro conditions and could remain below $5,000 if the economy sours. 

Exclusive: Paxos joins spate of crypto companies applying for US trust bank licenses (Reuters)

Paxos, the maker of PayPal’s stablecoin PYUSD, is seeking a national trust bank charter from the U.S. Treasury’s Office of the Comptroller of the Currency, as reported by Reuters. If approved, this would elevate Paxos from its current New York state-level license to a federal one, which would allow it to manage assets and settle payments more efficiently across the U.S., though it still reportedly wouldn’t be allowed to take deposits or issue loans like traditional banks.

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