Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, Web3 and crypto regulation.
Today in crypto, Sheikh Tahnoon’s group reportedly backs a 49% stake in the holding company behind World Liberty’s conditionally approved US trust bank. Grayscale argued that Zcash could challenge Bitcoin’s network effects as financial privacy gains importance, while the UK moved to expand the Bank of England’s mandate to stablecoins and payments innovation.
An Abu Dhabi royal and his co-investors reportedly back the largest stake in the holding company behind World Liberty Financial’s proposed US trust bank.
Citing people familiar with the matter, the Wall Street Journal reported that Sheikh Tahnoon bin Zayed Al Nahyan’s group is behind StringZ Holding RSC, which owns 49% of WLTC Holdings. An entity affiliated with US President Donald Trump’s family owns another 38%, one person told WSJ.
If it receives final approval, the planned bank would bring the issuance, redemption and custody of World Liberty’s USD1 stablecoin under the federally supervised venture.
Tahnoon is the UAE’s national security adviser and chairman of artificial intelligence company G42. The US authorized exports of advanced AI chips to G42 in November 2025, months after Washington and Abu Dhabi agreed a broader AI cooperation framework.
The Office of the Comptroller of the Currency granted World Liberty Trust Company preliminary conditional approval on Aug. 14. Its published decision confirms that StringZ is an investor in WLTC Holdings and signed commitments not to influence the bank. It does not identify Tahnoon as its backer or disclose its stake.
The trust bank cannot begin operating until it satisfies the OCC’s pre-opening requirements and receives final approval.
Tahnoon previously backed a $500 million purchase of 49% of World Liberty Financial. Democratic senators later called for hearings into the transaction and whether it influenced US policy toward the UAE.
Cointelegraph contacted the Trump Organization for comment but did not receive a response before publication.
Grayscale says Zcash (ZEC) could mount a rare challenge to Bitcoin’s (BTC) powerful network effects as artificial intelligence increases the value of keeping financial transactions private.
The asset manager’s head of research, Zach Pandl, argues that Zcash benefits from being a later entrant, allowing it to combine Bitcoin-like monetary characteristics with optional transaction privacy. That distinction could become more important as AI makes large-scale analysis of financial activity increasingly sophisticated.
The call follows a sharp rise in ZEC, which has gained roughly 19-fold over the past year. Even after that rally, Zcash’s market capitalization remains below 1% of Bitcoin’s, leaving substantial room for appreciation if it succeeds in taking even a modest share of the market, according to Grayscale.
Bitcoin still has formidable advantages, including deeper liquidity and an established network that competing cryptocurrencies such as Litecoin have struggled to dislodge. Grayscale also cautioned that Zcash remains a high-risk asset and that further gains are unlikely to be smooth.
Institutional activity around Zcash is also increasing. Nasdaq-listed Cypherpunk Technologies recently acquired a $33.33 million mining fleet from Winklevoss Capital that now accounts for about 18% of the network’s hashrate.
