Standard Chartered PLC is reportedly seeking to fully acquire Zodia Custody Ltd. to merge it with one of its digital asset divisions, sources close to the matter told Bloomberg on Wednesday. The ‘restructuring’ plan, which could come as soon as this month, contemplates merging Zodia’s crypto custody business into one of the investment bank’s divisions…
Bitcoin BTC$71,000.30 has pulled above $70,000 on news of the Iran ceasefire, but the rally is, for now, fairly cautious. There may be good reasons for that. One of the more reliable signals for gauging where bitcoin may be headed comes from tracking margin long positions on Bitfinex. These positions, which reflect bullish bets funded…
Welcome to our institutional newsletter, Crypto Long & Short. This week: Bob Williams on how stricter crypto regulations in Asia are putting more personal responsibility on senior leaders, making strong governance and D&O insurance essential. The FBI’s Haidy Grigsby on how crypto scams are increasingly targeting experienced investors by building trust and tricking them into…
Morgan Stanley’s spot bitcoin exchange-traded fund (ETF) began trading Wednesday with solid early activity, logging more than 1.6 million shares traded and roughly $34 million in inflows, the bank said. The fund, listed under the ticker MSBT, tracks the CoinDesk Bitcoin Benchmark 4 PM New York Settlement Rate and charges a 0.14% expense ratio. It…
Network News BERNSTEIN SAYS QUANTUM THREAT TO BITCOIN IS REAL BUT MANAGEABLE: Wall Street broker Bernstein said the rise of quantum computing poses a credible but manageable threat to Bitcoin and the broader crypto ecosystem, as recent breakthroughs compress timelines for potential attacks on modern cryptography. Advances such as Google Quantum AI’s reported reduction in…
Michael Saylor, executive chairman of Strategy (MSTR), believes bitcoin likely bottomed in early February at $60,000. Speaking at a recent Mizuho event, Saylor reiterated his long-held view that bottoms aren’t necessarily about valuations but are driven by seller exhaustion, analysts Dan Dolev and Alexander Jenkins wrote. Trend reversals, he added, are driven more by capital…
Yuga Labs has settled its lawsuit against artist Ryder Ripps and Jeremy Cahen over their alleged copycatting of its non-fungible tokens (NFTs) from the Bored Ape Yacht Club collection. The agreement ends a two-year dispute over whether the pair’s project, which reused Bored Ape imagery, crossed the line from satire into trademark infringement. Proposed court…
South Korea’s ruling Democratic Party proposed a “Digital Asset Basic Act” Wednesday that would establish a legal framework for digital assets, including issuance, trading, custody and supervision. “Digital assets are emerging as a core medium connecting the real economy and financial markets,” the proposal states. It defines value-linked digital assets, including those tied to fiat…
A firm issuing stablecoins in the U.S. would have an array of new duties to head off criminals and keep government watchdogs informed about malicious actors, according to rules poised for proposal by the U.S. Department of the Treasury that were reviewed by CoinDesk. A joint proposal from the Treasury’s Financial Crimes Enforcement Network (FinCEN)…
Adam Back has denied claims that he is Satoshi Nakamoto after a New York Times story argued that the British cryptographer is the strongest candidate yet for Bitcoin’s BTC$71,495.98 pseudonymous creator. In a post on X after the article was published, Back said his long record in cryptography, privacy tools and electronic cash research explains…
