All articles tagged with #cryptocurrency custody
Citigroup is considering offering cryptocurrency custody and payment services, focusing initially on stablecoin backing assets and crypto-linked ETFs like Bitcoin and Ether, as part of its broader engagement with blockchain and crypto markets, supported by recent regulatory clarity and industry momentum.
Multiple Hong Kong bitcoin ETF applicants claim approval to list spot bitcoin and ether ETFs, but an official statement from the Securities and Futures Commission has not been released; Bitcoin gained 3% after dropping to $61,300 due to geopolitical tensions, with altcoins like Render and Ondo Finance also rising; Germany's LBBW is set to offer crypto custody services through a partnership with Bitpanda, aiming to provide secure solutions for digital assets.
The CEO and chief product officer of Metaco, a cryptocurrency custody firm acquired by Ripple, have left the company. Ripple confirmed their departure and expressed appreciation for their leadership in building the custody business and integrating it with Ripple. Metaco, a favorite partner for European banks, had recently signed up HSBC, but there were reports of banks re-evaluating their relationship with Metaco following the acquisition by Ripple.
Bitcoin futures traders cashed out $175 million worth of positions in the past 24 hours, causing $1 billion in open interest to be wiped out. Former CTO and chief information security officer from Andreessen Horowitz are starting an institution-focused cryptocurrency custody firm with the backing of a16z. Grayscale Investments expects to learn by Q3 2021 whether it will be allowed to turn its $17.5 billion Grayscale Bitcoin Trust into an exchange-traded fund. The share of the US dollar in central banks' foreign-exchange reserves has declined to 58% from 70% two decades ago, reflecting a multi-polar world and central banks diversifying into other assets.
The Ethereum Shanghai upgrade, which concludes the two-year transition to proof of stake, will introduce technical improvements to the network and allow staking withdrawals. However, the short-term price impact may be muted due to the anticipated length of the withdrawal queue. The availability of liquid staking services and the interest in cryptocurrency custody may lead to more locked-up ETH, which could be bullish in the long run.