President Donald Trump has the power to fire members of the Federal Trade Commission but cannot give the boot to members of the Federal Reserve. So said the Supreme Court on Monday, in a pair of related decisions about the scope of executive power. The court ruled 6–3 in favor of the president in Trump v. Slaughter, which challenged his decision to fire Rebecca Slaughter from her position as a commissioner of the Federal Trade Commission (FTC). But in Trump v. Cook, the court sided with Lisa Cook, a member of the Federal Reserve’s board of governors he had sought…

BNY has expanded its Digital Asset Custody platform to let institutional clients store, transfer, mint and redeem Circle’s USD Coin, making it the first stablecoin supported on the platform.The new capabilities allow BNY clients to convert US dollars into USDC and redeem the stablecoin back into dollars directly through the bank while also storing and transferring USDC on its custody platform. BNY said it plans to expand the service to additional stablecoins and digital cash workflows over time.The expansion builds on BNY’s existing role as the primary custodian of the assets backing USDC, extending its relationship with Circle beyond safeguarding…

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