Here's the script for The Daily Crypto Briefing: Welcome to The Daily Crypto Briefing, your daily dose of crypto news. I'm Thomas, and here are today's headlines. Today's been an exceptional day in crypto, with major developments in institutional adoption, regulatory challenges, and stablecoin innovations reshaping the landscape. Today's top stories: - BlackRock's Bitcoin ETF options make a historic debut - Kraken faces setback in SEC lawsuit appeal - Sky launches USDS stablecoin on Solana - VanEck and BlackRock back federal Bitcoin reserve proposal - PayPal expands PYUSD reach through Xoom integration Let's dive into these stories. First up, BlackRock's iShares Bitcoin Trust has made history with its options trading launch. The IBIT options saw an unprecedented $1.9 billion in notional volume on day one, dwarfing previous records in the space. To put this in perspective, that's more than five times the volume of BITO's first-day performance four years ago. This exceptional demand helped push Bitcoin to a new all-time high of $93,900, demonstrating the growing institutional appetite for crypto derivatives. Moving to regulatory news, Kraken has hit a roadblock in its battle with the SEC. A California judge denied the exchange's motion to appeal the ongoing securities lawsuit, emphasizing that the discovery process must proceed. This development underscores the continuing regulatory challenges facing major crypto exchanges, as the SEC maintains its stance that many crypto offerings qualify as unregistered securities under the Howey test. In DeFi developments, Sky, previously known as MakerDAO, has expanded its USDS stablecoin to the Solana ecosystem. This marks a significant milestone as Solana's first major DeFi-native stablecoin. The integration, powered by Wormhole's cross-chain protocol, opens new opportunities for lending, borrowing, and trading within Solana's growing DeFi ecosystem. In an interesting political development, industry giants VanEck and BlackRock are throwing their weight behind Donald Trump's proposal to establish a national strategic Bitcoin reserve. The initiative aims to incorporate Bitcoin holdings into the Exchange Stabilization Fund, potentially marking a significant shift in government cryptocurrency policy. Lastly, PayPal is expanding its crypto footprint by integrating its PYUSD stablecoin with Xoom for cross-border payments. This strategic move aims to enhance payment accessibility in Asia and Africa, particularly during non-traditional banking hours, potentially revolutionizing international money transfers. To wrap up today's briefing, we're seeing a clear trend toward institutional adoption and infrastructure development in the crypto space. From BlackRock's record-breaking options launch to PayPal's stablecoin expansion, these developments suggest growing mainstream acceptance of digital assets. Stay tuned for tomorrow's briefing as we continue tracking these evolving stories. I'm Thomas, and this has been The Daily Crypto Briefing.