The landscape of financial institutions is evolving as blockchain assets gain momentum, with over 135 traditional banks now supporting cryptocurrency services. This development signals a significant shift in the financial sector, reflecting increased adoption and acceptance of digital assets. A recent study by Finery Markets and Coincub highlights this trend, noting a surge in connections between banks and the world of decentralized finance. European institutions lead this wave, with 63 banks across the continent offering crypto-related services by the close of the first quarter. This region not only dominates in terms of numbers but also sets a benchmark in regulatory…
Author: Rea K.
On Sunday, April 14, crypto prices plummeted as a direct result of escalating tensions between Iran and Israel. This significant downturn in the market saw Bitcoin fall to $60,660, marking a one-month low. This drop followed a week of declines, beginning on April 12 when Bitcoin dipped to the $65,000 range, dragging the global crypto market cap down to $2.2 trillion. The conflict led to over $860 million being wiped out in the derivatives market due to massive liquidations. Regulatory Challenges and Legal Battles In addition to market instability, the crypto industry faces increased scrutiny from U.S. regulators. Uniswap, the…
Hong Kong has conditionally approved the region’s first bitcoin and ether exchange traded funds (ETFs). This decision places Hong Kong at the forefront of integrating cryptocurrencies such as bitcoin and ether into mainstream investment channels. Announced on Monday, these approvals position Hong Kong as the first Asian city to formally recognize these digital currencies as standard financial instruments. Set to Roll Out: Crypto ETFs by Chinese Asset Managers Three major Chinese asset managers poised offshore are preparing to introduce these virtual asset spot ETFs shortly. Harvest Fund Management and Bosera Asset Management, operating through their Hong Kong divisions, have confirmed…
Cyble Research and Intelligence Labs recently exposed a sophisticated phishing scheme designed to compromise Chinese cryptocurrency investors and companies. This campaign cleverly imitates the Exodus crypto wallet’s interface through a fraudulent website. Victims believe they are downloading a legitimate Exodus wallet installer, but it secretly installs malicious software. The downloaded program not only starts the Exodus installation process to appear credible but also simultaneously runs FatalRAT malware. This malware gives attackers remote access to the victim’s computer. During this process, additional harmful components like Clipper and Keylogger are also installed without the user’s knowledge. These programs are notorious for altering…
A recent study by KPMG reveals a significant rise in enthusiasm for cryptocurrencies among investors from Germany, Austria, and Switzerland. This uptick in interest follows a tough year for the cryptocurrency market, aligning with the anticipation of the Bitcoin halving event scheduled for mid-April 2024. The comprehensive survey included around 2,400 private investors who invest in digital assets. Results show a remarkable 54% of these investors now allocate more than 20% of their total investment portfolio to cryptocurrencies. A notable group within these investors commits over half of their total assets to the sector, showing readiness to support the industry…
Landesbank Baden-Württemberg (LBBW), Germany’s largest state-owned bank, is set to debut cryptocurrency custody services targeted at institutional and corporate clients. This strategic initiative, scheduled for the latter half of 2024, aims to bolster the regional cryptocurrency market. LBBW, holding over $350 billion in assets, is partnering with Bitpanda, which will supply its ‘investment-as-a-service’ platform to facilitate this new service. The collaboration underscores a growing interest in digital assets among LBBW’s corporate customers, as observed by Jürgen Harengel, the bank’s managing director of corporate banking. He highlighted the increasing demand from clients aiming to expand their digital asset portfolios. The initial…
The U.S. Treasury is taking steps to enhance its authority in addressing the misuse of cryptocurrencies by countries such as Iran, Russia, and North Korea. Deputy Secretary Adewale Adeyemo recently shed light on this pressing issue. He revealed efforts to combat the concealment of identities and the movement of resources through virtual currencies by malicious entities. Adeyemo discussed the innovative methods terrorist groups and others adopt to funnel their resources. This comes as traditional financial avenues become increasingly inaccessible due to stringent restrictions. Specifically, he noted Iran’s Quds Force’s use of digital currencies to support militant organizations, including Hamas and…
STFIL, a prominent liquid staking protocol within the Filecoin ecosystem, finds itself under the investigative lens of Chinese police. This development was shared by the STFIL team via an X post dated April 9, shedding light on the legal challenges faced by its core members. The team has since secured legal counsel to navigate the complexities of the situation and ensure support for those involved. The inquiry into STFIL’s operations comes in the wake of unusual activity observed on the platform. Notably, a week prior to the disclosure, STFIL experienced an unexpected transfer of Filecoin (FIL) assets to an anonymous…
The Swiss National Bank (SNB) has recently made headlines. Thomas Jordan, the SNB’s Chair, expressed views on the future of digital currency in Switzerland. He believes that there is no immediate need for a public central bank digital currency (CBDC). Jordan’s insights came to light at a Zurich event. He highlighted the strength of existing payment solutions. These are already serving consumers and businesses well, thanks to the private sector. Jordan pointed out the complexities a retail CBDC might introduce. Such a digital currency could alter the current monetary system significantly. Instead, Jordan suggests a focus on interbank trials with…
Aptos Labs has partnered with io.net. Their goal is to democratize access to advanced AI resources. This collaboration highlights the tech industry’s focus on the burgeoning field of artificial intelligence. Aptos Labs, known for the Aptos blockchain ecosystem, aims to revolutionize AI and machine learning. They are doing this by joining hands with io.net. Io.net stands out for its decentralized GPU compute solutions. Together, they plan to make artificial intelligence resources more accessible. This comes at a time when venture capital is increasingly targeting this evolving technology. The duo’s plans include the creation of AI models and inference products. These…