View moreIn This Week’s Recap:
- Crypto Disrupts TradFi
- Ripple Bids Circle
- North Carolina Crypto Bill
- BankSocial Q1
- Hot Topics
The Big Idea
Banks Face Crypto Disruption
Crypto and blockchain technology are shaking up the traditional financial system, with many industry leaders warning that failure to adapt could lead to obsolescence. Eric Trump recently shared his view that banks are at risk of becoming extinct if they don’t evolve. He pointed to decentralized finance (DeFi) and blockchain as more efficient, cost-effective alternatives to legacy systems like SWIFT. This sentiment is increasingly shared across the financial sector.
A 2024 BNY Mellon survey found that over 90% of U.S. community banks are planning for digital transformation, with nearly a third focusing on adopting instant payment systems and blockchain technologies to stay competitive. As consumer demand for faster, cheaper, and more transparent financial solutions grows, traditional financial institutions are being pushed to rethink their models or risk falling behind.
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Crypto News
Ripple’s Circle Bid Rejected
Ripple reportedly made a $4–$5 billion offer to buy Circle, the company behind USDC, but the bid didn’t go through. Bloomberg reported that Circle turned down the deal, saying it undervalued the firm. This all happened shortly after Circle filed for an IPO in the U.S. Ripple, which recently acquired prime broker Hidden Road for $1.2 billion, hasn’t said whether it will try again. The company is also beginning to move past its legal issues with the SEC, having settled a long-standing case and agreed to pay $50 million.
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Adoption News
North Carolina Embraces Crypto
North Carolina just took a big step toward crypto adoption. The state’s House passed a bill that would allow the treasurer to invest up to 5% of public funds into approved digital assets, pending third-party security and compliance checks. They also passed a separate bill to create a new investment authority that could eventually take over those responsibilities. Both measures now head to the Senate, with support from Treasurer Brad Briner. If passed, NC could become one of the first states actively putting crypto on its balance sheet.
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BankSocial Corner
Our Q1: Built to Launch
Q1 wasn’t just a quarter for BankSocial — it was the launchpad. We went live with global payments in Africa, teamed up with Google to shake up credit union tech, and rolled out Secura T(ag)™ for self-custody and digital ID. Carbon Card signups are open now, and the response has been incredible. We also had a seat at the table shaping policy at GAC, NACUSO, and Financial Brand. New rails, new identity, new rules. And this is just the beginning.
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While anyone can access the BankSocial ecosystem, certain features including the exchange require Verifiied®- our simple KYC solution. Login to My.BankSocial.io and start the process now.
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Hot Topics
What’s on everyone’s mind?
After a rocky start to 2025, many major cryptocurrencies experienced a bounceback in price and activity.
The U.S. Senate Commerce Committee met this week to discuss a bill requires the Department of Commerce to support the leadership of the United States in the use of blockchain technology and other distributed ledger technology, tokens, and tokenization.
Scammers posing as Ledger have begun to send physical letters to Ledger owners requesting seed phrases. Be careful and never share your seed phrase with anyone unless you want them to have access
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All The Love and All The Power!
was originally published in BankSocial News on Medium, where people are continuing the conversation by highlighting and responding to this story.
