Rain Seeks OCC Charter to Manage Stablecoin Operations
The proposed trust bank would operate without deposits or FDIC insurance, as a legal challenge tests the OCC's authority to charter crypto firms.
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The proposed trust bank would operate without deposits or FDIC insurance, as a legal challenge tests the OCC's authority to charter crypto firms.
HOLO carries the worst dilution ratio in the cohort: its $12M cliff equals 51.9% of market cap, a supply expansion that historically precedes multi-week drawdowns in already-thin altcoin books.
The breach wasn't in user-controlled wallets. It hit the third-party contract holding card-loaded funds, the exact handoff crypto-card spending depends on as volumes triple.
The concentration puts RAIN at the center of dilution risk, while six smaller events add a broader altcoin supply overhang.
Supply pressure stacks across mid-cap alts, with one $641M cliff-event dwarfing the rest and setting up textbook dilution risk into thin books.
The headline number is RAIN's $666.66M cliff on Monday, but the unlock calendar runs through smaller-tier cliffs that cumulatively exceed $830M and will test bid-side liquidity across mid-cap names.
May's schedule is front-loaded with two outsized cliffs — RAIN's first post-vesting tranche and PYTH's 37%-of-cap annual release — with five smaller monthly unlocks filling out the calendar.
RAIN's first post-cliff unlock and PYTH's 37%-of-market-cap annual event dominate May's calendar, with five other projects adding smaller monthly tranches on top.