The Federal Deposit Insurance Corporation (FDIC) has directed certain financial institutions to pause cryptocurrency-related activities while it assesses regulatory concerns associated with these services. This directive was revealed through letters made public on December 6, 2024. In related developments, a Coinbase executive has published these FDIC letters, urging banks to either halt or avoid crypto services. Additionally, the Securities and Exchange Commission (SEC) has rejected applications for Solana exchange-traded funds (ETFs), a decision characterized by some analysts as SEC Chair Gary Gensler's 'parting gift' to the crypto industry. There are predictions that Solana may secure ETF approvals in 2025, although current sentiment suggests that such approvals are unlikely in 2024. The FDIC's actions reflect ongoing regulatory scrutiny of the cryptocurrency sector, which has been a point of contention among financial regulators.