The Daily: JPMorgan's BTC and ETH pledge, Polymarket's token and airdrop plans, OG bitcoin miner's 14-year dormancy ends, and more

The following article is adapted from The Block’s newsletter,  The Daily , which comes out on weekday afternoons.

Happy Friday! Today's U.S. CPI print came in largely as expected, with bitcoin's muted reaction suggesting markets had already priced in the outcome, Xapo Bank's Gadi Chait told The Block, as attention now shifts toward the Fed's upcoming rate decision.

In today's newsletter, JPMorgan reportedly plans to let institutional clients pledge BTC and ETH as loan collateral, Polymarket's CMO confirms its POLY token and airdrop plans, an OG bitcoin miner wallet breaks 14 years of dormancy, and more.

Let's get started!

JPMorgan to let institutional clients pledge BTC and ETH as loan collateral by year-end

JPMorgan will let institutional clients use bitcoin and ether as collateral for loans by the end of 2025, Bloomberg reported on Friday, citing people familiar with the matter.

• The program will be offered globally and rely on an unnamed third-party custodian to safeguard the pledged digital assets.
• It builds on JPMorgan's earlier move to accept crypto-linked ETFs as collateral, now allowing direct use of the underlying assets.
• The initiative could unlock new liquidity options for institutions holding long-term crypto positions without needing to sell.
• CEO Jamie Dimon's evolving tone toward bitcoin mirrors the bank's broader pivot as client demand for crypto grows.
• JPMorgan joins a wave of major financial institutions — including Morgan Stanley, Fidelity, and BNY Mellon — expanding crypto custody and financing services amid a maturing regulatory environment.

Polymarket CMO confirms POLY token and airdrop plans

Polymarket CMO Matthew Modabber confirmed during a Degenz Live podcast appearance on Thursday that the company will launch a native POLY token and airdrop following months of speculation.

• Modabber said the team aims to eventually release a token with real utility and longevity, prioritizing thoroughness of design over speed of release.
• However, the company is first focusing on relaunching its U.S. app, which recently received regulatory approval to go live again after a 2022 halt.
• "Why rush a token if we need to prioritize the U.S. app?" Modabber said. "After the U.S. launch, there will be a focus on the token and getting that live and making sure that it's well done."

OG bitcoin miner wallet containing 4,000 BTC breaks 14-year dormancy

An OG bitcoin miner wallet holding 4,000 BTC has moved a portion of the funds for the first time in 14 years , according to analytics firm Lookonchain, citing Arkham data.

• The wallet address beginning "18eY9" transferred 150 BTC, worth about $16.6 million, to an unmarked address on Thursday.
• The 4,000 BTC ($442 million) were originally mined in 2009 and consolidated into the wallet in 2011, Lookonchain said, when they were worth just $16,400.
• The move adds to a growing trend of long-dormant Satoshi-era wallets becoming active over the past year as bitcoin's price continues to trade at historically elevated levels.

Trump defends pardon of Binance founder Changpeng Zhao

President Trump defended his pardon of former Binance CEO Changpeng "CZ" Zhao , saying he was "recommended by a lot of people" and "wasn't guilty of anything."

• Trump said he has never met Zhao but claimed the former crypto exchange chief was "persecuted" by the Biden administration. "I do pardon a lot of people," Trump told reporters.
• Zhao, who previously served four months in prison and paid a $50 million fine, said he is "deeply grateful" and aims to help make America the "Capital of Crypto."
• The pardon came as Binance's BNB and Trump family-linked WLFI tokens rallied, extending the president's broader push to align with the crypto industry.

Coinbase, Ripple among crypto titans donating to Trump's new White House ballroom

Ripple, Coinbase, Tether, and Gemini founders Cameron and Tyler Winklevoss are reportedly among the crypto donors contributing to President Trump's new $300 million White House ballroom .

• The privately funded 90,000-square-foot addition has drawn both praise and criticism after the East Wing was demolished to make way for it, with major tech companies such as Apple, Google, and Microsoft also listed among the donors.
• The donations again highlight crypto's growing political influence in Washington, following the heavy industry spending that helped shape a pro-crypto Congress after the 2024 elections.

Looking ahead to next week

• The U.S. Federal Reserve's latest interest rate decision is due on Wednesday, with a 25 bps reduction expected. The ECB's interest rate decision follows on Thursday. Eurozone CPI data and U.S. PCE figures are set for release on Friday.
• U.S. FOMC member Raphael Bostic is scheduled to speak on Friday.
• Euler, Plasma, Blast, Jupiter, Zora, Celo, Wormhole, and Optimism are among the crypto projects set for token unlocks .
• Lugano Plan ₿ Forum concludes in Switzerland. Blockchain Life gets underway in Dubai. Money20/20 kicks off in Las Vegas.

Never miss a beat with The Block's  daily digest  of the most influential events happening across the digital asset ecosystem.