Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning.

Good morning. Today is Friday, May 22nd. I'm Julie Morgan.

Major U.S. banks a crypto collaboration.

Microsoft scores a win in the Activision saga, and Disney battles YouTube over a key executive move.

Top U.S. banks are reportedly looking into potentially teaming up to issue a joint crypto-stable

coin. The Wall Street Journal reported citing people familiar with the matter that the early

conceptual discussions have involved

companies co-owned by J.P. Morgan Chase, Bank of America, City Group, Wells Fargo, and other

large lenders. Those include early warning services, which runs the digital payment network

Zell and the payment system called Clearinghouse. A final decision on the matter would depend on legislative actions for stable coins and

if there's enough demand for such assets.

Stable coins are pegged to a reference asset like fiat currency, commodities, or other financial

instruments.

The Trump administration has been working to establish a clear

crypto regulatory framework. This week, the guiding and establishing national innovation for U.S.

Stable Coins Act of 2025 or the Genius Act was advanced by the Senate. The bill aims to regulate

stablecoin issuance with strict requirements

on maintaining reserves, financial risk, and consumer data privacy, among other criteria.

The Federal Trade Commission has ended its attempt to block Microsoft $68.7 billion acquisition of Activision Blizzard, withdrawing its complaint

after losing an appeal to stop the deal. This marks the conclusion of nearly two years of

regulatory resistance, which began with the FTC's opposition in 2023. Microsoft's president

said on Thursday that the FTC's decision to drop the case was a

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