Tag Archives: Banks

The move appears to be a part of a wider push to offer digital assets to institutional clients. The tokens represent a claim against the bank and are processed on a private blockchain owned and managed by Citigroup. Clients can access the service through existing bank systems, according to reports on Sept. 18. Global head of the Citi’s services division, Shahmir Khaliq, said: “The development of Citi Token Services is part of our journey to deliver real-time, always-on, next...

Big Three credit rating agency Moody’s has downgraded numerous regional banks in the United States due to weak earnings last quarter and sizable unrealized losses, according to the firm’s Monday note. Meanwhile, banking giants including Bank of New York Mellon (BK.N), US Bancorp (USB.N), State Street (STT.N) and Truist Financial (TFC.N) have been placed on review for potential downgrades. Stress in the Banking Sector As reported by Reuters on Tuesday, Moody’s note highlighted...

Esther Freeman – a 70-year-old Israeli resident who turned a $3,000 BTC investment into over $320,000 in 2021 – has terminated the legal battle with Bank Hapoalim. The latter was unwilling to accept her crypto profits, casting doubts on the source of the funds she used to hop on the Bitcoin bandwagon. Her investment is currently worth approximately $160,000 due to the price decrease of the leading digital asset over the following years. Dismissal of the Case Less Than Two...

According to recent research by CoinGecko, two-thirds of the 30 biggest global banks by assets under management (AUM) support crypto trading through regulated exchanges. Furthermore, around 74% of the top 50 banks worldwide support crypto trading by connecting to regulated exchanges, the report added. “However, none support retail crypto trading or on-ramping from respective native platforms.” 1/ How many of the top 30 banks in the world support crypto trading? 66% or 20 out...

Well-known crypto critic, Senator Elizabeth Warren, won support from Washington-based banking advocacy group, the Bank Policy Institute (BPI), for newly introduced bipartisan legislation that seeks to regulate the crypto industry and eliminate loopholes for illicit activity. Its support has been viewed as a peculiar move because both Warren and the Wall Street banks have hardly agreed on the same things before. In fact, the Senator has been known to blast at the trade group...

Societe Generale’s crypto arm – SG Forge – announced acquiring a regulatory license approval as Digital Asset Service Provider from the French Financial Markets Authority (AMF). With it, SG Forge has become the first company to receive a license from France’s financial regulator as a digital asset provider. The DASP license represents the highest level of regulatory certification currently possible for digital asset activities. It is important to note that over 80 entities...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up Bitcoin, Ethereum, and many other mainstream forms of crypto are gaining a lot of traction and additional popularity as the banking crisis grows. Crypto Is Getting a Lot of Respect Not long ago, one of the banks to join the ongoing list of financial failures was First Republic. The organization’s assets were...

The largest banking institution in Russia by assets value – Sberbank – will reportedly enable private investors to buy and sell digital currencies in the following weeks. The entity jumped on the bandwagon a few years ago, attempting to launch several cryptocurrency projects. For one, it sought approval to issue its own digital currency and introduced the first blockchain-focused ETF in Russia.  Sberbank Pushes Forward As reported by a local media outlet, the bank will let...

Commonwealth Bank of Australia (CBA), the largest bank in Australia, announced a temporary decline in “certain” payments to cryptocurrency exchanges as part of newly introduced measures to battle scams in the country. According to an official release, the CBA will decline or hold crypto payments for 24 hours or more. As part of the scam risk measures, the bank will also place a A$10,000 ($6,650) limit on the payments made to exchanges in the coming months. CBA to Pause...

Following increased regulatory action from the SEC and other local and global watchdogs, members of the crypto community have been worrying about the industry’s future relationship with the banking sector. Pivot to Europe in The Cards The restlessness surrounding future crypto regulation was amplified following the collapse of both Signature Bank and Silvergate Bank, both of which supplied much of the infrastructure needed to keep the crypto world tethered to the banking...