In an intriguing development within the financial services industry, BNY Mellon is positioning itself to be a formidable contender in the realm of cryptocurrency custody. This strategic pivot, particularly targeting Bitcoin and Ethereum exchange-traded funds (ETFs), follows the bank’s recent exemption from the SEC’s Staff Accounting Bulletin 121 (SAB 121). This newfound flexibility allows BNY
Ethereum, once a darling of the cryptocurrency world, is presently facing challenges that have left many of its holders on edge. The recent market performance has unveiled significant uncertainty, preventing any signs of an impending bullish trend. Among the primary sources of disappointment is the underwhelming debut of spot Ethereum exchange-traded funds (ETFs) in the
The ongoing transformation of the financial landscape, marked by the rise of cryptocurrencies, has significantly challenged regulatory bodies like the Securities and Exchange Commission (SEC). Recently, a faction of Republican lawmakers, led by Rep. Patrick McHenry and Sen. Cynthia Lummis, has voiced strong concerns about the SEC’s strategy for managing crypto custody, particularly focusing on
The landscape of digital currencies, particularly stablecoins, is undergoing a pivotal moment as congressional leaders strive to establish regulatory frameworks. With calls for bipartisan consensus echoing from key figures, the urgency for comprehensive legislation on stablecoins is palpable. Central to this dialogue is Congresswoman Maxine Waters, who has emerged as a crucial advocate for a
The landscape of gaming is undergoing a profound transformation driven by Web3 technologies. The newly released Global Gaming Report 2024 from Elympics sheds light on this emergent phenomenon, illustrating how blockchain-based gaming is positioned to redefine the industry. Web3 gaming offers a unique framework characterized by decentralized ownership, enhanced monetization opportunities, and community-driven experiences. By
On September 24, Kraken announced its latest strategic decision to acquire Coin Meester (BCM), renowned as one of the Netherlands’ longest-standing registered cryptocurrency brokers. This acquisition signifies more than just a business transaction; it represents Kraken’s determination to fortify its position in the Dutch market and enhance its operational capacity across Europe. By obtaining Coin
The cryptocurrency market continues to navigate through waves of volatility, tightly intertwined with the dynamics of large-scale investment funds. Recently, Grayscale’s two flagship products—GBTC (Grayscale Bitcoin Trust) and ETHE (Grayscale Ethereum Trust)—experienced substantial outflows, raising questions about investor sentiment and market demand. On a day that usually anticipates high trading volumes, Monday saw $80.6 million
In an intriguing development within the cryptocurrency ecosystem, a once-dormant Bitcoin whale address has reactivated after a ten-year slumber, as reported by Arkham Intelligence. The address has made headlines by transferring 5 BTC to the Kraken exchange, marking its third transaction in a flurry of activity following a decade of inactivity. The longevity and sudden
Bitcoin’s recent fluctuations provide a captivating insight into the cryptocurrency market’s inherent volatility and investor sentiment. After a notable dip that saw Bitcoin’s price slip below the $63,000 threshold, it has rebounded, climbing back toward the $64,000 mark. This resurgence indicates that bullish investors have wrested control of the market, signaling both resilience and opportunism
The world of cryptocurrency has seen a noteworthy surge in investment interest recently, particularly as crypto investment products enjoyed positive inflows for the second consecutive week. CoinShares, a prominent player in the crypto investment sector, reported that global digital asset funds registered inflows totaling approximately $321 million during the past week. While this figure represents