The US Department of Justice is reportedly moving to drop charges against Matthew Goettsche, the founder of BitClub Network, a purported crypto mining platform that allegedly defrauded investors of $722 million between 2014 and 2019. A court filing shows Goettsche’s attorneys reached an agreement in principle to resolve the pending charges. The potential reversal follows an April 2025 memo from Deputy Attorney General Todd Blanche, who directed the DOJ to end its “regulation by prosecution” strategy against the digital asset industry.
New Hampshire Rejects Crypto Proposal
New Hampshire’s executive council has voted down a proposal to issue $100 million in Bitcoin-backed bonds, marking a setback for one of the highest-profile state crypto initiatives in the US. The proposal would have seen CleanSpark provide Bitcoin as collateral for the bonds, building on the state’s crypto-friendly agenda after lawmakers approved a Bitcoin reserve law in 2025. State representative Keith Ammon called the decision “short-sighted” and urged the council to reconsider.
Circle Secures Bank Approval
USDC stablecoin issuer Circle has received final approval from the US Office of the Comptroller of the Currency (OCC) to establish First National Digital Currency Bank (FNDCB), a national trust bank that will operate under the name Circle National Trust. “OCC approval to establish Circle National Trust marks a defining step in bringing blockchain technology and digital assets into the core of the US financial system,” Circle CEO Jeremy Allaire said. The bank could later expand its services to a limited group of institutional customers, including banks and other financial institutions such as regulated derivatives firms, if demand develops.
Based on reporting from crypto.news.
