The Federal Reserve is working on a plan to raise the asset thresholds that trigger tougher oversight for large banks, potentially easing requirements for some lenders and encouraging consolidation. Under current rules, stricter standards kick in at $100 billion, $250 billion and $700 billion in assets, and banks say crossing $100 billion brings major compliance costs. The proposal would reindex the highest threshold closer to $1 trillion and shift some lower-tier requirements closer to about $150 billion.

Clients of crypto asset managers Bitwise and Franklin Templeton’s ETFs have recently bought a combined $22.65 million worth of XRP tokens. The purchases were made through regulated ETF channels, reflecting ongoing institutional allocation demand for XRP assets. Further details on the transactions, including timing, were not disclosed.

Strategy is seeking shareholder approval to change how dividends are paid for four preferred stock series, including STRC, shifting payments from quarterly to daily. The move mirrors the structure used by Strive’s SATA preferred stock, which pays dividends every business day at a 13% annual rate. STRC fell to $71.25 in June, well below its $100 stated amount, before rebounding to $98.41, near the company’s $99 to $100 target range.

US stocks rebounded on Friday, ending a volatile week higher as oil prices fell. Brent crude dropped 2.1% to US$104.32 a barrel and WTI slid 2.3% to US$92.41 as investors bet a possible US-Iran agreement could ease fears of supply disruption at the Strait of Hormuz. Earlier concerns about Houthi strikes on Saudi Red Sea infrastructure and the risk of a strait blockade had lifted inflation expectations and pushed bond yields higher.

Rivian began delivering its R2 on June 9, with the R2 Performance priced from $57,990, and it plans to launch the $44,990 R2 Standard in 2027. The vehicle already supports hands-free assisted driving across 3.5 million miles of roads in the U.S. and Canada. Uber agreed to invest up to $1.25 billion in Rivian through 2031 if the company meets certain autonomy milestones.

KLX Energy issued third-quarter guidance calling for revenue of $180M$185M, above the $181.3M consensus estimate. The midpoint implies about 9% sequential growth. The company expects an adjusted EBITDA margin of 13% to 14%, about a 200-basis-point improvement from the prior quarter. Adjusted EBITDA at the midpoint is projected to rise about 30% sequentially.

U.S. technology shares rose 3% over a volatile week as borrowing costs paused their climb. Microsoft led the sector, ending at $516.17 for its highest close since November. Akamai Technologies said Anthropic will pay at least $11.6 billion over seven years to use its cloud infrastructure and software.

Cato Corp. said it will close 120 retail stores by the end of the fiscal year, representing more than 10% of its network of over 1,000 locations across 31 states. The women’s apparel retailer, which targets price-sensitive shoppers, said inflation and broader economic pressure have weighed on customers’ discretionary income. The company reported second-quarter net income of $1.1 million, down from $6.8 million a year earlier. Management said the closures are expected to improve operating results in fiscal 2027 and beyond.