September 2023
Weekly Market Wrap: Nomura’s Bitcoin Fund, Citigroup blockchain move fail to lift Bitcoin above US$27,000
Bitcoin remained below the US$27,000 mark, despite significant institutional players, like Japan’s largest bank, Nomura, launching a Bitcoin adoption fund earlier this week.
Bitcoin trades above US$27,000; Toncoin extends rally
Bitcoin rose on Wednesday morning in Asia to trade above US$27,200. Ether remained flat at around US$1,640. All other top 10 non-stablecoin tokens logged gains.
Citigroup debuts digital token service for institutional clients
Citigroup announced Monday the launch of its new blockchain-based cross-border payments solution for institutional clients.
Weekly Market Wrap: Deutsche Bank’s crypto move propels Bitcoin to US$26,750
Bitcoin hit a weekly high of US$26,750 after Deutsche Bank announced plans to offer crypto custody services for institutional investors, days after Standard Chartered launched its own institutional crypto wing.
Japan’s Mizuho bank to join MUFG’s stablecoin platform
Mitsubishi UFJ Trust and Banking Corporation and Web3 developer Ginco Inc. have partnered to introduce what they call Japan’s first “crypto asset trust.”
August 2023
How blockchain-backed ID can lift up the lives of the unbanked masses: Opinion
Digital ID verified via blockchain can greatly expand economic opportunities for the world’s poor. But the market is fragmented and faces a rocky road of regulations, writes Tamas Kadar, CEO of SEON.
Bitcoin extends losses as BNB falls after Binance closes payment service
Bitcoin extends the day’s losses but keeps above US$29,000, while Binance’s BNB drops amid exchange’s payment service closure.
BTC Markets CEO sees silver lining in Australian banks’ crypto clampdown
Australian banks are heightening scrutiny on digital asset exchanges and restricting crypto payments due to rising scams and frauds. Caroline Bowler, CEO of BTC Markets highlights the challenges and opportunities faced by the industry in the country.
Who do you trust the most to keep your Bitcoin safe?
Storing crypto on an exchange risks theft and hacks. But DIY can also be perilous — just ask the guy who accidentally trashed a hard drive and his Bitcoin fortune.
Crypto’s fear and loathing: Will TradFi take over?
Moves by big financial institutions into digital assets are worrisome to crypto purists, but it could be just what crypto needs to shake off its doldrums, writes Konstantin Horejsi of Blocktrade.
June 2023
Binance to change euro banking partner from September
Binance’s euro banking partner, Paysafe Payment Solutions, will stop offering its services for the world’s largest cryptocurrency exchange from Sept. 25.
SoftBank-backed crypto bank Xapo to expand services in India
Xapo Bank, a Gibraltar-based cryptocurrency bank backed by SoftBank, DST Global and Ribbit Capital, has announced its expansion to India, the world’s most populous nation.
Hong Kong Monetary Authority urges banks to service crypto firms: Financial Times
HKMA is urging lenders including HSBC, Standard Chartered and Bank of China to service crypto exchanges. Financial Times reported on Thursday.
JPMorgan teams up with Indian banks for blockchain-based settlements: Bloomberg
JPMorgan has reportedly launched a pilot project with top private lenders in India for interbank dollar transaction settlements through its blockchain platform, Onyx.
May 2023
How NFT-financing can reshape the landscape of lending and borrowing
NFT-backed lending and borrowing can unlock liquidity and expand investment opportunities. Here are the best practices — and risks.
Why are so many VCs and startups flocking back to banks?
The collapse of Silicon Valley Bank and others led to predictions of big shifts away from centralized finance. James Wo examines why that hasn’t happened yet.
Warren Buffet-backed Nubank, Visa, Mastercard to join Brazil’s CBDC pilot
Banco Central do Brasil, the central bank of Brazil, has selected 14 institutions to participate in the pilot run of the country’s central bank digital currency (CBDC) named Real Digital.
Are deposit tokens the new stablecoins — or a wolf in sheep’s clothing?
Stablecoins are a key part of the crypto ecosystem, but banks like JPMorgan are now exploring deposit tokens as an alternative. Which is better, and why?
Bitcoin, Ether fall; XRP leads losers as top 10 tokens lose steam; US equity futures flat
Bitcoin fell in Monday morning trading in Asia after failing to breach the US$30,000 ceiling over the weekend. Ether dropped below the US$1,900 mark.
Largest banks should fill crypto void after lender failures, says Standard Chartered’s Geoff Kendrick
In the final installment of a three-part interview series, Geoff Kendrick, head of crypto research at Standard Chartered Bank, outlines the lender’s approach to crypto and why he thinks exploration of blockchain use cases is just beginning.
Bitcoin, Ether dip following Europe’s rate hikes; US equity futures edge up despite banking woes
Bitcoin dipped below US$29,000 in Friday morning trading in Asia as rate hikes in Europe sent uncertainty to investors. Ether fell below US$1,900.
What JPMorgan’s First Republic takeover means for the crypto industry
Top blockchain and crypto news: JPMorgan swoops as another bank falls. NFT market rivalry heats up. Bitget seeks Hong Kong exchange license.
Bitcoin up on bank jitters, price forecasts; Ether dips, U.S. equity futures flat
Bitcoin edged up on Monday morning in Asia to hold above US$29,000. Ether fell below US$1,900. Most other top 10 non-stablecoin tokens traded lower except BNB.
April 2023
HKMA urges local banks to provide services to regulated digital asset firms
Arthur Yuen, Deputy Chief Executive of the Hong Kong Monetary Authority, urged local lenders to provide banking services to regulated crypto firms.
Bitcoin, Ether rebound after early morning fall; U.S. equity futures gain on Meta outlook
Bitcoin rose above US$29,000 on Thursday morning in Asia, rebounding from an earlier drop. Ether gained. Other top 10 non-stablecoin tokens traded mixed.
Bitcoin bounces back to US$28,000, Ether gains; U.S. equity futures up on tech earnings
Bitcoin rose in Wednesday morning trading in Asia to reclaim the US$28,000 mark, with Ether and all other top 10 non-stablecoin cryptocurrencies moving higher.
Bitcoin falls below US$29,000, Ether slumps, U.S. equities stall on inflation concerns
Bitcoin slid below the US$29,000 mark on Thursday morning in Asia. Ether lost hold of US$2,000 in a sell-off across all top 10 non-stablecoin tokens.
Bitcoin to peak at US$42,000 in 2023, end the year above US$35,000: Finder survey
Bitcoin is expected to hit a high of US$42,225 in 2023 and close the year around US$35,485, according to a survey by Finder.
Hong Kong’s ZA Bank starts offering crypto-fiat conversion services: Bloomberg
ZA Bank, the largest virtual bank in Hong Kong, has started offering cryptocurrency conversion services through licensed crypto exchanges.
Crypto firms hardpressed to find U.S. bank partners as industry blames ‘Operation Choke Point 2.0’
NYDFS superintendent Harris called the idea of Operation Choke Point 2.0 “ludicrous,” but industry participants largely disagree. Was the shutdown of the three largest crypto-friendly institutions a coordinated effort to unbank crypto?
DeFi has a trust gap. What can rebuild its credibility?
Traditional institutions are testing crypto waters, but given last year’s market carnage, it’s not easy to gain their confidence, writes Simon Schaber of Spool.
Weekly Market Wrap: Bitcoin stuck at US$28,000 amid signs of slowing economies
Bitcoin bounced around the US$28,000 mark as worries about bank failures were replaced by concerns about a recession in the U.S. Just for good measure, the IMF forecast the global economy will see its slowest growth in two decades.
Swiss PostFinance bank to offer crypto services to 2.5 mln customers
PostFinance, a Swiss government-owned retail bank, has partnered with Sygnum Bank to provide crypto-related services.
March 2023
Bitcoin holds ground amid Binance lawsuit, XRP continues run up, U.S. equities dip
Bitcoin rebounded in Wednesday morning trading in Asia along with all other top 10 non-stablecoin cryptocurrencies. XRP led the winners.
Is our banking system obsolete?
For long, people could only put cash into a bank account or under the mattress, writes Eric Johnson. Will blockchain technology offer a viable alternative?
Bitcoin, other crypto fall as U.S. sues Binance; U.S. equities gain as banks stabilize
Bitcoin fell Tuesday morning in Asia along with most other top 10 non-stablecoin cryptocurrencies after the U.S. filed a lawsuit against Binance.
China state-owned banks turn crypto-friendly in Hong Kong: Bloomberg
China banks in Hong Kong are offering services to crypto businesses, Bloomberg reported on Monday, as more digital asset firms operate in the city.
Bitcoin gains as investors diversify amid worries about banking system; U.S. equity futures rise
Bitcoin and the other top 10 non-stablecoin cryptocurrencies rose on Monday morning in Asia, as investors diversify amid the ongoing banking turmoil.
Weekly Market Wrap: Bitcoin hovers around US$28,000 as banking concerns return. Will it hit US$30,000?
As banking contagion worries reignited, Bitcoin traded firmly above US$28,000 for most of the week. Considering that Bitcoin was made for a potential banking crisis, industry experts are eyeing the US$30,000 mark for BTC.
Bitcoin, Ether, Forkast 500 NFT index rise; gold nears year-high over banking sector concerns
Bitcoin and Ether rose during Asian trading hours on Friday, along with most of the top 10 non-stablecoin cryptocurrencies by market capitalization, with Litecoin posting the biggest gains.
Bitcoin rebounds above US$28,000 as equities gain in U.S. on Treasury easing bank worries
Bitcoin bounced back above US$28,000 on Friday morning in Asia amid a rebound in all top 10 non-stablecoin cryptocurrencies and gains in equities overnight.
Bitcoin tracks equities lower on downbeat Fed, Treasury comments on banks
Bitcoin fell on Thursday morning in Asia, tracking equities lower after the U.S. Fed indicated interest rates could stay higher for longer.
Bitcoin buoyed as bank busts spook investors
Top blockchain and crypto news: Banking woes boost Bitcoin. Arbitrum counts down to launch. Chinese billionaire faces US crypto scam charges.
Crypto needs to look abroad as US exchanges go unbanked
The fall of Silvergate, SVB and Signature has left crypto firms scrambling for new banks. Will crypto banking head offshore for the long term?
Bitcoin treads water, other crypto retreat ahead of U.S. Fed’s decision on interest rates
Bitcoin traded flat below US$28,000 on Tuesday morning in Asia. Most other top cryptocurrencies retreated ahead of a U.S. decision on interest rates.
New York Community Bancorp unit to assume Signature Bank deposits, FDIC says
New York Community Bancorp will assume all deposits and certain loan portfolios of the failed Signature Bank, the FDIC said on Sunday.
Bitcoin leads crypto rally as central banks promise liquidity to stem rising bank risk
Bitcoin briefly breached US$28,000 at the weekend in a bullish run extending into Monday morning in Asia amid worries about bank risk.
Weekly Market Wrap: Bitcoin rises above US$26,000, as ‘store of value’ narrative strengthens amid bank failures
As the U.S. banking system stared into the pit of bank runs and collapsing share prices, the authorities acted swiftly to try and pull everything back from the edge. However, Bitcoin seemed unperturbed. Is this what a safe haven looks like?
Another Crazy Week For Bitcoin
Bitcoin and other cryptocurrencies bounce back after a turbulent week for banks in the US and Switzerland.
Bitcoin, Ether rise; relief for investors as major banks get liquidity lifeline
Bitcoin and Ether rallied by the end of Asian trading hours on Friday afternoon, together with all other top 10 non-stablecoin cryptocurrencies by market capitalization.
Bitcoin, Ether, other crypto gain with equities amid global fund injections to support banks
Bitcoin neared the US$25,000 mark on Friday morning in Asia. Cryptocurrencies gained as the U.S. and Europe moved to backstop troubled banks with cash.
Bitcoin, Ether drop, other top cryptocurrencies retreat as bank liquidity concerns rise
Bitcoin and Ether dropped in Thursday morning trading in Asia along with most other leading tokens amid broader concerns about bank liquidity.
New York regulator says Signature Bank closure ‘nothing to do’ with cryptocurrencies: Reuters
The decision to shut down Signature Bank at the weekend was not related to cryptocurrencies, the New York regulator told Reuters on Tuesday.
Bitcoin, Ether continue run up; Solana, Dogecoin lead gainers; U.S. equities rebound
Bitcoin and Ether continued strong price gains, with most of the top 10 non-stablecoin cryptocurrencies logging advances for the past seven days.
Circle’s Disparte speaks on de-risking crypto from banking risks
The recent U.S. banks fallout is a stress test for both traditional finance and digital assets but to weather the storm side by side is a powerful opportunity, says Circle Chief Strategy Officer Dante Disparte.
Banks are bringing systemic risks to crypto, says Circle’s Disparte
The recent U.S. bank failures are proof that the banking system is introducing systemic risks to the crypto industry, not vice versa, says Circle chief strategy officer Dante Disparte.
Crypto banking crisis?
As the U.S. tries to head off a bank run, crypto is quickly running out of places to bank with.
Circle says US$3.3 bln USDC reserve at SVB available Monday, announces partnership with Cross River
Circle said the USDC reserve deposits held at the failed Silicon Valley Bank will be recovered when banks open on Monday.
Circle’s USDC stablecoin regains parity as regulators act to stop bank run risk
Circle said its $3.3 billion of USDC cash reserves at the collapsed Silicon Valley Bank will be available Monday after regulators stepped in to backstop deposits.
U.S. regulators shutter Signature Bank, lender to Paxos, Coinbase, citing systemic risk
U.S. regulators closed New York-based Signature Bank, one of the biggest lenders in the crypto industry, due to risks of a systemic failure.
Silvergate teeters as regulators circle and crypto firms cut ties
Top blockchain and crypto news: Silvergate woes spark bankruptcy talk. LDO dips on false enforcement rumors. Chinese leaders push digital development.
Kraken to launch U.S. crypto bank amid regulatory headwinds
U.S.-based cryptocurrency exchange Kraken is working on establishing its own bank, despite the recent regulatory headwinds
CBDC: Boon Or Bane?
Critics fear CBDCs could mean the end of cryptocurrencies, and an increasing number of countries are racing to develop their own.
Australia’s central bank identifies CBDC use cases as it prepares pilot launch
Australia has outlined potential use cases and providers for a central bank digital currency (CBDC), with a pilot program to be launched in the coming months.
January 2023
U.S. banking regulators warn against cryptocurrency fraud, contagion risks
The U.S. Federal Reserve, FDIC and the OCC have issued a joint statement to warn banks of the risks with crypto assets.
December 2022
No change in community banks’ view of crypto after FTX’s collapse, says ICBA’s Brian Laverdure
ICBA vice-president Brian Laverdure believes that community banks are unfazed by FTX’s collapse, but remain split on cryptocurrencies.
South Korea’s Shinhan Bank starts ‘metaverse’ services, according to local media
Shinhan has opened a metaverse to provide financial and non-financial services, claiming to be the first bank in the country to provide such a platform.
October 2022
Reinventing banking: Why is Standard Chartered so drawn to Web3?
Institutional adoption of Web3 in finance means getting traditional banks involved, which will in turn reshape the way banks work, says SC Ventures’ Alex Manson.
Fed’s top bank watchdog eyes new regulation for banks doing crypto
Crypto-asset related activities may pose “novel risks” to banks and their customers, prompting the U.S. Federal Reserve to develop further regulations, Fed vice chair for supervision Michael Barr said in a speech Wednesday at D.C. Fintech Week. See related article: U.S. Fed has growing interest in CBDCs, says Jeng at Crypto Council for Innovation Fast […]
BNY Mellon, largest custodian bank, starts Bitcoin, Ether custody services
Bank of New York Mellon Corp., a 238-year-old bank based in the U.S., is now allowing select U.S. clients to hold and transfer Bitcoin and Ether, the bank announced in a press release on Tuesday. See related article: Crypto self-custody is no longer a choice. It’s an imperative. Fast facts BNY Mellon will store private […]