Galaxy acquires institutional crypto custody firm for $44M
Galaxy Digital invests $44 million to acquire institutional cryptocurrency custody platform GK8. Go to Source Powered by WPeMatico
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SEC proposes tougher rules as part of its crypto custody crackdown
The new proposals set forth by the Gensler-led Securities and Exchange Commission seek to “expand the scope” of rules set out by the 2009 Custody Rules. Go to Source Powered by WPeMatico
US securities regulator probes Wall Street over crypto custody: Report
The regulator has been probing registered investment advisors over how they’ve been offering crypto custody to their clients, according to sources. Go to Source Powered by WPeMatico
Wrapped Bitcoin Project Sees 18% Redemption of Circulating Supply in 54 Days
Statistics show over the course of 54 days, the number of wrapped bitcoin (WBTC) hosted on the Ethereum network has decreased by 40,156. This equates to a more than 18% redemption of the circulating supply of WBTC since Nov. 27, 2022. WBTC Remains Largest Operation in Terms of Bitcoin Custody Despite Recent Redemptions The […] … Read more
Binance Launches Off-Exchange Settlement Solution ‘Binance Mirror’ for Institutional Clients
The largest crypto-asset exchange by global trade volume, Binance, announced that its custody business has launched an off-exchange settlement solution for institutional clients. With this solution, institutions can lock a specified amount of crypto with a qualified cold storage wallet, and assets will be mirrored on their Binance exchange account with a 1:1 balance. Binance … Read more
Celsius wants to extend the deadline for claims as lawyer fees mount
Administrative expenses from the bankruptcy proceedings have already topped $53 million, and continued delays are chipping away at Celsius’ estate. Go to Source Powered by WPeMatico
Celsius amasses 30 potential bidders for its assets, withdrawal motion approved
The bankrupt lender is set to hold auctions for its assets in January, while it’s been given the green light to return some customer funds. Go to Source Powered by WPeMatico
Bankruptcy judge orders $44M in crypto to be returned to Celsius customers
The funds are made up crypto held within custody accounts on Celsius that had not been transferred from earn accounts. Go to Source Powered by WPeMatico
Brazilian Bank Itau Unibanco to Offer Cryptocurrency Custody Services in 2023
Itau Unibanco, one of the biggest Brazilian banks, has announced it will offer cryptocurrency custody services in 2023. Itau Digital Assets, the cryptocurrency unit of the company, will be responsible for this offering, which will be first available to customers of the bank, and then to third parties as a service. Brazilian Bank Itau Unibanco … Read more
Celsius had ‘insufficient’ accounting and operational controls, says examiner
The examiner revealed that Celsius’ digital assets in its customer’s Custody wallets account officially became underfunded on Jun. 11. Go to Source Powered by WPeMatico