The conditional approval moves the Latin American fintech into the bank organization phase as it seeks to expand regulated banking and crypto services in the United States. Nubank has received conditional approval from the US Office of the Comptroller of the Currency (OCC) to form a national bank, a step that allows the fintech to offer deposits, lending, credit cards and digital asset custody in the United States. The approval moves Nubank into the bank organization phase, during which it must meet capitalization and supervisory conditions and secure additional approvals from the Federal Deposit Insurance Corporation and the Federal Reserve before launching operations. According to a company announcement on Friday, the US bank will be led by co-founder Cristina Junqueira, with former Central Bank of Brazil president Roberto Campos Neto serving as board chair. Nubank said it aims to fully capitalize and open the bank within 18 months, subject to regulatory approval. Read more
AI training is dominated by hyperscale data centers, but inference and everyday workloads are opening real space for decentralized GPU networks. Decentralized GPU networks are pitching themselves as a lower-cost layer for running AI workloads, while training the latest models remains concentrated inside hyperscale data centers. Frontier AI training involves building the largest and most advanced systems, a process that requires thousands of GPUs to operate in tight synchronization. That level of coordination makes decentralized networks impractical for top-end AI training, where internet latency and reliability cannot match the tightly coupled hardware in centralized data centers. Read more
Bitcoin's MVRV Z-score printed record lows on a rolling two-year basis, making BTC price more "undervalued" than at the pit of past bear markets. Bitcoin (BTC) may be “close to the end” of its correction as a classic BTC price metric beats records. Key points: Bitcoin’s MVRV Z-score is at record lows on two-year rolling time frames. Read more