Sat, November 2

Singaporean SBI DM Plans to List Digital Assets on German Firm 21X

In the last 24 hours, amid several news reports, the cryptocurrency sector witnessed the release of governmental institutions’ Bitcoin holdings data. The governmental reserves alone account for 2% of Bitcoin’s total supply. This indicates a widespread adoption of cryptocurrency in the global economy.  Moreover, several banks have begun listing digital

September 26, 2024 2 mins read

China’s Central Bank Announces Major Rate Cuts and Stimulus

China has announced significant monetary easing measures, including multiple rate cuts and a reduction in banks’ reserve requirements, to stimulate its struggling economy. The People’s Bank of China (PBOC) will lower the reserve requirement ratio (RRR) for banks by 50 basis points (bps), which is expected to release approximately $142

September 24, 2024 2 mins read

Commerzbank Rolls Out Bitcoin and Ethereum Trading Services in Germany

Commerzbank, Germany’s second-largest bank by branches, has partnered with Crypto Finance, a subsidiary of Germany’s largest stock exchange operator, to provide crypto trading services for its corporate clients.  According to the announcement, this move will initially focus on Bitcoin (BTC) and Ethereum (ETH), allowing businesses to easily and securely engage

September 19, 2024 1 min read

US SEC Maintains Strict Stance on Crypto Custody Rules for Banks

The U.S. Securities and Exchange Commission (SEC) has reinforced its strict stance on limiting crypto custody services for banks and regulated financial firms. In a recent talk at a banking conference on September 9, SEC Chief Accountant Paul Munter reaffirmed the agency’s firm position on rules governing the custody of

September 10, 2024 2 mins read

Ex CEO Sentenced to 24 Years in Prison for Crypto Scam

The Former CEO of Kankas Heartland Tri-state Bank is sentenced to 24 years in prison. You reap what you sow is now vividly seen in the actions of Shan Hanes. The ex-CEO of failed Heartland Tri-state Bank who fell for a crypto scam, is now facing consequences for his wrongdoings.

August 20, 2024 2 mins read

Standard Chartered’s Zodia Markets Set to Acquire Elwood Capital

Zodia Markets, a cryptocurrency subsidiary of Standard Chartered, is reportedly on the verge of acquiring Elwood Capital Management. This move signifies the growing intersection of traditional banking and the burgeoning crypto sector. The parties have not officially confirmed the deal. Yet, the acquisition is anticipated to be finalized by the

July 10, 2024 2 mins read

Standard Chartered Bank to Launch Trading Desk for Spot Cryptocurrency

The crypto market witnessed a major milestone as the leading banking institution, the Standard Chartered Bank, announced the launch of a trading desk for spot Bitcoin (BTC) and Ethereum (ETH).  Two insiders have confirmed that the trading desk will operate from London, as reported by Bloomberg  Spot cryptocurrencies including BTC

June 21, 2024 2 mins read

Singapore Banks Tighten Security Post $2.2B Money Laundering

Singapore banks affected by the substantial money laundering announced increased scrutiny of their wealthy customers according to Bloomberg. Leading banks such as Citigroup Inc., and DBS Group Holdings Ltd. are among the banks that are working to tighten security following the attack in 2023.  Notably, the money laundering case that

June 10, 2024 2 mins read

CACEIS Approved to Provide Crypto Custody Services in France

The crypto market has witnessed significant growth in recent years and has captured the attention of non-crypto institutions and banks. It leads to an increase in mainstream adoption of the crypto market. CACEIS, the asset-servicing banking group of Credit Agricole and Santander, has registered with the French market regulator AMF

June 23, 2023 3 mins read

JPMorgan to Settle $290M Resolving Lawsuit from Epstein Case

JPMorgan Chase & Co, the financial services in New York City, America has been alleged to pay a tentative settlement of around $290M. This is due to the lawsuit raised against them and resolving the sexual abuse victims of Jeffrey Epstein, a financier. However, this Monday, the claim has been

June 13, 2023 2 mins read