Citigroup (C) plans to launch institutional bitcoin custody later this year, part of a broader push to integrate digital assets into the bank’s traditional financial infrastructure. Nisha Surendran, who heads Citi’s digital asset custody product buildout, described the initiative in a speech at the World Strategy Forum on Thursday as an effort to “make bitcoin…
Why it matters: Ryan VanGrack, Coinbase’s VP of legal and global head of litigation, is sharpening Coinbase’s challenge to state regulators, saying they are trying to rewrite Congress’ authority over derivatives. Coinbase has filed lawsuits in Connecticut, Illinois, Michigan and Nevada after launching prediction markets in partnership with Kalshi. Some of those states issued cease-and-desist…
Democrats in the U.S. Senate continue to pile onto Binance, asking the Treasury and Justice departments to investigate its sanctions compliance and protections against illicit finance following reports of potential terrorism funding. Nine senators, including a few that have been instrumental in negotiations over the crypto industry legislation known as the Digital Asset Market Clarity…
Bitcoin BTC$65,389.10 fell back below $66,000 Friday in the early U.S. session as mounting macro risks are spooking investors away from risky assets. The largest crypto now has erased most of Wednesday’s surge, plunging 3% from around $68,000 in the past few hours to $65,600 in the morning hours. The braod-market CoinDesk 20 Index was…
By Omkar Godbole (All times ET unless indicated otherwise) Uh-oh, the bitcoin BTC$66,077.68 price pattern that presaged the final and deepest phases of previous bear markets has appeared again. In mid-November 2018, CoinDesk discussed a bearish flip in long-term averages on a chart that bundles three days of price action into each candle. It warned…
AllUnity, a joint venture between DWS, Galaxy, and Flow Traders, has expanded its stablecoin lineup with a new token pegged to the Swiss franc, which has emerged as a haven darling for major banks and analysts. The BaFin-regulated e-money institute has unveiled CHFAU, which is backed 1:1 by Swiss franc reserves, in response to institutional…
Bitcoin and the broader crypto market headed into Friday on the back foot, with most major tokens posting losses over the last 24 hours as traders continued to de-risk alongside equities following Nvidia’s earnings-driven pullback. Bitcoin was trading around $67,766 at the time of writing, down 1.5% on the day but still clinging to a…
MARA Holdings shares jumped 17% after the bitcoin mining firm announced Thursday a partnership with Starwood Capital Group to build large data centers across its existing U.S. sites. The agreement will convert select MARA locations, many of which were originally developed for Bitcoin mining, into facilities serving enterprise cloud and artificial intelligence customers. Starwood, which…
The crypto industry’s stablecoin operations, such as the arrangement between issuer Circle and leading exchange Coinbase, could be under serious pressure in the U.S. Office of the Comptroller of the Currency’s newly proposed set of stablecoin rules. Even as OCC chief Jonathan Gould testified in the U.S. Senate on issues that included crypto oversight on…
UNI climbed roughly 15% over the past 24 hours, outperforming bitcoin’s 4.7% gain and ether’s 8.5% rise, as investors reacted to a Uniswap governance vote aimed at broadening the protocol’s revenue capture across multiple layer-2 networks. If approved, the proposal would expand the so-called fee switch to eight additional chains and replace the current pool-by-pool…
