Moments ago, the Senate passed legislation H.J.Res. 109 that would overturn the SEC’s Staff Accounting Bulletin (SAB) No. 121, preventing highly regulated financial firms from custodying Bitcoin and other cryptocurrencies. The legislation passed with a vote of 60 to 38, demonstrating bipartisan support for the measure. BREAKING: 🇺🇸 Legislation that would overturn SEC rule preventing highly…
The Executive Office of US President Joe Biden has announced its stance on proposed legislation, H.J. Res. 109, that would allow highly regulated financial firms to act as custodians for Bitcoin and other cryptocurrencies. JUST IN: 🇺🇸 US President Joe Biden Administration says Biden would veto legislation that would allow highly regulated financial firms to custody #Bitcoin…
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Company Name: Unchained Founders: Joe Kelly and Dhruv Bansal Date Founded: October 2016 Location of Headquarters: Austin, TX Amount of Bitcoin in Treasury: Not disclosed Number of Employees: 107 Website: https://unchained.com/ Public or Private? Private Joe Kelly and Dhruv Bansal started Unchained with one main objective: to provide financial services to people like themselves —…
Sadi Maria/iStock Editorial via Getty Images We’re officially three months into the existence of spot Bitcoin (BTC-USD) ETFs in the United States market. With approximately a week remaining until Bitcoin’s next block reward halving, I think it’s worth taking a bird’s eye view of how Bitcoin is actually being adopted so far in 2024. In…
The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now. In Nigeria, home of the largest digital asset economy in Africa, a feud has been developing…
Digital asset investment firm, Valkyrie, has become the first spot Bitcoin Exchange-Traded Fund (ETF) to diversify the custody of its coins, according to a recent Securities and Exchange Commission (SEC) filing. In a move to enhance security and reliability, Valkyrie is now working with leading custodian provider BitGo, already in addition to Coinbase, to safeguard their funds….
Imagine a hypothetical world where there is no established medium of exchange. In this imaginary world, people are simply bartering. However, someone approaches you and tells you, “Hey, you know tomorrow we all move to using gold as money, right? You should acquire as much as you can now before tomorrow comes.” Assuming you trust…
Celsius also advised customers to make use of its mobile app for the withdrawal, stating the app would only be available for a limited time. Bankrupt crypto lender Celsius Network has announced that some clients with custody assets can now make withdrawals from the platform. Celsius which previously stopped withdrawals on its platform declared Chapter…
Besides the fines Changpeng Zhao will pay, Binance has also agreed to pay $4.3 billion to the United States Department of Justice (DoJ). Binance founder Changpeng Zhao (CZ) has been released from custody after agreeing to a personal recognizance bond of $175 million. Mr Zhao pled guilty to accusations by federal officials that he violated…
Commerzbank applied for a crypto custody business license with BaFin back in April 2022. It has become the first bank to win approval in Germany. One of Germany’s leading banks Commerzbank AG (CBK-DE: XETRA) has been granted a crypto custody license by the Federal Financial Supervisory Authority (BaFin), Germany’s financial regulator. Now Commerzbank is officially allowed…
Commerzbank, Germany’s fourth-largest bank, announced its become the first among its peers to secure the Crypto Custody License under Article 1 Section 1a Sentence 1 No 6 German Banking Act (KWG). The newly acquired license empowers Commerzbank to forge ahead in establishing a comprehensive range of digital asset services, with a specific emphasis on Bitcoin and…
HSBC, which is one of the largest banks in the world, revealed that for now, its custody plans involve “tokenized securities issued on third-party platforms.” HSBC Holdings (LSE: HSBA), in partnership with Ripple Labs subsidiary Metaco, has announced plans to launch a digital assets custody service for institutional clients. The service will offer custody for…
DZ Bank’s current infrastructure makes it possible for the bank to take part in the exploratory phase of the ECB’s project testing the settlement of large-volume capital market transactions in central bank money. Germany’s third-largest bank DZ Bank has launched a blockchain-based platform for the processing and custody of crypto assets. The platform will cater…
In a move that showcases the expanding demand for Bitcoin, St. Galler Kantonalbank (SGKB) has become the latest major Swiss bank to offer Bitcoin and crypto buying services. Announced Thursday, SGKB partnered with SEBA Bank to offer its retail customers cryptocurrency trading and custody services, a venture that marks another step in the expanding world…
BitGo confirms that it is delighted that its efforts to secure the new license have finally paid off. Crypto custody firm BitGo is now fully licensed to carry out its custody business in Germany, according to a recent CoinDesk report. This follows after the United States-regulated firm recently secured the appropriate license from the German…
Today, Blockstream, a global leader in Bitcoin infrastructure, announced a partnership with Swan Bitcoin, a prominent Bitcoin-only financial services company, to launch Swan Vault, enabling customers to safeguard their Bitcoin via collaborative custody, according to a press release sent to Bitcoin Magazine. Swan Vault is powered by Blockstream Jade, an open-source Bitcoin hardware wallet. “Integrating…
Unchained, a leading bitcoin financial services provider, has expanded its collaborative custody network with the addition of Coincover, a company known for protecting and insuring over 5 million crypto wallets, according to a press release sent to Bitcoin Magazine. This move aims to bolster the security of Unchained’s collaborative custody product, which now secures over…
Zodia Custody will now offer yield on digital assets to institutional clients in addition to providing its custody services. Zodia Custody, a leading crypto custody platform owned by banking giant Standard Chartered, will start providing yield on crypto holdings owned by its institutional clients. To bring this to fruition, Zodia Custody has partnered with OpenEden,…
Deutsche Bank with about €1.3 trillion in assets under management will leverage the Taurus tokenization to manage customers’ digital assets. Germany’s leading banking institution for over 150 years Deutsche Bank AG (NYSE: DB) has announced a strategic partnership with Taurus SA to provide crypto asset custody services to its global customers. According to the announcement,…
According to a report by Reuters, German banking giant Deutsche Bank has partnered with Swiss cryptocurrency firm Taurus to offer Bitcoin and crypto custody and other related services to its institutional clients. “As the digital asset space is expected to encompass trillions of dollars of assets, it’s bound to be seen as one of the priorities for investors and…
Bitcoin software wallet maker Nunchuck has introduced Byzantine, their innovative collaborative custody platform tailored specifically for Bitcoin advisors. Byzantine’s unique offering lies in its ability to effortlessly craft multi-user multisig wallets. This feature paves the way for seamless collaboration between advisors and their clients. While the client enjoys complete control over their bitcoin, the advisor…