Flagstar Bank buys Signature Bank, crypto business not included

The FDIC is selling Signature Bank's deposits and loans to Michigan-based Flagstar Bank. The deal does not include the bank's crypto-related deposits and business, including Signet. New YorkThe post Flagstar Bank buys Signature Bank, crypto business not included appeared first on AMBCrypto.

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Banks Offering Bids for Signature Bank Must Give Up Crypto Business

Sources have said that those who acquire Signature Bank must drop any crypto-related business, according to Reuters. The post Banks Offering Bids for Signature Bank Must Give Up Crypto Business appeared first on BeInCrypto.

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Crypto Bank Silvergate Shares Crash Amid Investor Walkout, JPMorgan Downgrade

Silvergate shares experienced a significant decline of nearly 60% on Thursday due to both business partners and investors leaving abruptly to avoid financial instability. The drop was the largest ever seen for Silvergate.

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MicroStrategy Says It Doesn’t Have Any Assets Custodied With Silvergate

Business software company Microstrategy (MSTR) said it has no assets custodied with Silvergate Capital (SI) and is in no other way financially linked to the bank other than a commitment to repay a loan in 2025, the company said on Thursday.

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FTX’s SBF Hit With Fresh Batch Of Bank Fraud Charges

Former FTX CEO Sam Bankman-Fried (SBF) is facing a new slate of bank fraud charges this week, including the likes of conspiracy to operate an unlicensed money-transmitting business and conspiracy to commit bank fraud.

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DBS Bank the Latest Business to Rush to Hong Kong as the Territory Plans to Become a Crypto Hub

Businesses like Huobi and DBS bank are expanding to Hong Kong. The country adopted to a robust regulatory framework. The post DBS Bank the Latest Business to Rush to Hong Kong as the Territory Plans to Become a Crypto Hub appeared first on BeInCrypto.

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US Federal Reserve Board Denies Custodia Bank’s Membership Application

Custodia unable to win Fed membership amid business model concerns.

The post US Federal Reserve Board Denies Custodia Bank’s Membership Application appeared first on BeInCrypto.

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Custodia Bank Denied Federal Reserve System Membership

The Federal Reserve Board has denied Custodia Bank’s application for membership, claiming the crypto-focused institution’s “novel business model and proposed focus on crypto-assets presented significant safety and soundness risks.”

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Moonstone Bank announces exit from crypto space

One of the financial institutions that did business with Sam Bankman-Fried’s empire, Moonstone Bank, is rebranding itself, getting out of crypto and refocusing on its original customer base. Moonstone Bank, based in Farmington, Washington, has announced its exit from the…

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Alameda Research-Connected Bank Exits Crypto Business

The sister company of collapsed crypto exchange FTX had taken an $11.5M stake in tiny Washington State-based Farmington State Bank in January 2022.

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Metropolitan Bank Calls It Quits on Crypto Following Silvergate Scare

Metropolitan Holding Corp will shutter its crypto vertical as banks' crypto business lines face increasing scrutiny. The post Metropolitan Bank Calls It Quits on Crypto Following Silvergate Scare appeared first on BeInCrypto.

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Signature Bank Downgraded at Jefferies Due to Shrinking Crypto Business

The cut to hold by the formerly bullish analyst team comes after the stock has suffered a 67% year-over-year decline.

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RedBull, DeepMind and Westfort Bank collaborate for blockchain modernization 

To modernise blockchain, Westfort Bank and the Artificial Intelligence (AI) business "DeepMind" are collaborating with Red Bull.

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Crypto Could Be Regulated Within The Existing Regulatory Frameworks

In his speech on November 21, 2022, on the topic “Reflections on DeFi, digital currencies and regulation”, at Warwick Business School’s Gilmore Centre Policy Forum Conference on DeFi & Digital Currencies,  the Bank of England’s Deputy Governor for Financial Stability, Sir Jon Cunliffe, said that the general themes of corporate governance, and the quality of […]

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FTX Disaster Shows Crypto Could Be A ‘Problem’ If Not Regulated, BOE Governor Says

There is a big lesson to be learned from FTX and cryptocurrencies. A deputy governor of the Bank of England stated in a recent speech at Warwick Business School that the experience of the past few months illustrates that crypto is highly susceptible to the hazards that regulation in the traditional financial industry is intended […]

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Crypto.com becomes latest bank run victim, but CEO says it is business as usual

Crypto dot com CEO Kris Marszalek held an AMA on November 14, addressing concerns about marketwide insolvency pressures. The post Crypto.com becomes latest bank run victim, but CEO says it is business as usual appeared first on CryptoSlate.

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Barclays Bank Posts Better than Expected Net Profit in Q3 2022

Coinspeaker Barclays Bank Posts Better than Expected Net Profit in Q3 2022 Barclays’ resilient performance in Q3 is a testament to the bank's highly diversified business model and income streams despite notable economic headwinds that played out.

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Nuri Declared Temporary Insolvency, Asked 500K Users to Withdraw Funds

Nuri crypto bank have made several attempts to ensure it's still in the business, but declared itself bankrupt and asked its 500k users to withdraw their funds.

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Crypto bank Nuri urges customers to withdraw funds before it shuts down

In cryptocurrency news today, crypto bank Nuri, which filed for temporary insolvency in August after a tough year made worse by the collapse of one its business partners and the failure to get an acquirer, is shutting down.

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BNY Mellon Offers Crypto Custody & Custodia Bank’s Caitlin Long Blasts The Fed

Yeah, yeah, the BNY Mellon entered the crypto custody business. The real story here is Custodia Bank’s Caitlin Long’s emotional speech at DC Fintech Week. The bitcoin enthusiast banker left the rest of the panel speechless by accusing the Federal Reserve of giving preferential treatment to BNY Mellon. “We’ve been waiting for two and a […]

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BNY Mellon Officially Enters Cryptocurrency Custody Business

Bank of New York Mellon has become first major U.S. banking institution to act as cryptocurrency custodian

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Crypto Investment-Product Firm 21.co Hires Former Goldman Alum as Chief Technology Officer

David Josse led Goldman Sachs’ business intelligence and engineering efforts for the bank’s Marcus product.

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Singapore Amps Investigation Of Crypto Firms, Plans On Introducing New Regulations

The Monetary Authority of Singapore (MAS) has instructed certain crypto firms to submit data concerning their business activities. The Central Bank is supposedly going to make certain amendments to the present crypto regulation policies after the collapse of crypto-hedge fund Three Arrows Capital, Terraform Labs and even Vauld.

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Singapore's Central Bank Asks Crypto Firms to Submit Business Data: Report

The move comes as the central bank is looking to bring in more safeguards for retail customers and a stablecoin regulation.

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South African Central Bank Releases Crypto Risk-Assessment Note

The South African Reserve Bank has released guidelines for local banks to do business with cryptocurrencies and cryptocurrency companies. The post South African Central Bank Releases Crypto Risk-Assessment Note appeared first on BeInCrypto.

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European Central Bank addresses guidance on licensing of digital assets

Specifically, the ECB will consider crypto firms’ business models, internal governance, and “fit and proper” assessments which apply to licensing other companies.

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German crypto bank Nuri with 500K users files for insolvency

Nuri stated that it has been facing a “lasting strain” on its business liquidity in 2022 due to “significant macroeconomic headwinds and the cooling down of public and private capital markets.”

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Blockchain has the biggest potential since the internet: Saxo Bank founder

Saxo Bank founder Lars Seier Christensen told Cointelegraph that in the coming years, new business models will be invented because of blockchain.

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Central Bank of Singapore To Release Bitcoin, Crypto Regulation Plans

The central bank will detail a framework to ensure businesses are properly regulated within its jurisdiction while encouraging business in the ecosystem.

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Dutch bank ING sells digital asset tool Pyctor to GMEX

GMEX has acquired ING’s Pyctor business to connect CeFi and DeFi amid the increasing demand for hybrid finance.

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Coinhouse Raises 40M Euros and Positions as EU’s Leading Cryptobank

Coinhouse, the French pioneer in investing in crypto-assets, has completed a 40 million euros fundraising. Among the investors: are the bank ODDO BHF, VC funds such as True Global Ventures, Tioga Capital Partners, XAnge Siparex Innovation, Raise Ventures, CF Partners, ConsenSys, Expon Capital, as well as several renowned families and French business leaders.

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Ethiopian Central Bank: Business Transactions Using Bitcoin Are “Illegal”

The National Bank of Ethiopia issued a statement reminding its citizens that business transactions made with bitcoin and other cryptocurrencies are “illegal”.

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Coinbase Positive About India Return But Will the Central Bank Soften its Crypto Stance?

Coinbase CEO Brian Armstrong revealed that its decision to shutter business in India was prompted by 'informal pressure' from the country's central bank. The post Coinbase Positive About India Return But Will the Central Bank Soften its Crypto Stance? appeared first on BeInCrypto.

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Emirates Development Bank Rolling out Digital Platform to Ease SME Lending

The Emirates Development Bank has rolled out a digital platform to ease lending to the country’s SMEs, reaffirming its financial commitment to the country’s small business sector. The post Emirates Development Bank Rolling out Digital Platform to Ease SME Lending appeared first on BeInCrypto.

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В Bank of America указали на потенциал биткоина как хеджа от обвала фондовых рынков

Товарные активы, наличные и криптовалюты могут показать благоприятную динамику в сравнении с акциями и облигациями на фоне комбинации шоков инфляции, рецессии и политики ФРС. К таким выводам пришел стратег Bank of America Майкл Хартнетт, пишет Business Insider.

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A digital dollar could ‘require years of development’ before rollout, Yellen says

US Treasury Secretary Janet Yellen has said that developing a central bank digital currency – the digital dollar- could be years in the making, should the US pursue that end. Yellen made the observation on Thursday during a presentation at the American University’s Kogod School of Business Center for Innovation in Washington.

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Coinbase Has ‘Hidden Value’ in Ventures Business, Oppenheimer Says

Crypto exchange Coinbase’s stock is undervalued, the investment bank said in a note to clients.

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Major Indian bank breaks ‘banking ban’ with WazirX crypto exchange deal

Indian banks have reportedly been slow to accept the Supreme Court’s decision allowing them to do business with crypto firms.

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В Bank of America назвали метавселенные «огромной возможностью» для криптоиндустрии

Метавселенные станут драйвером роста индустрии цифровых активов и будут способствовать массовому принятию криптовалют в качестве платежного инструмента. Об этом заявил инвестиционный стратег Bank of America Хаим Израэль в разговоре с Business Insider.

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India’s Central Bank Says It Could Launch Pilot Tests For Its CBDC In Q1 2022

The Reserve Bank of India (RBI), the nation’s central bank, is exploring the viability of a central bank digital currency (CBDC) and may launch pilot tests early next year, according to a report in local news outlet the Business Standard.

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Peru Keeps Up With Crypto: The Central Bank Will Launch a CBDC

The Central Reserve Bank of Peru’s (BCRP) President, Julio Velarde, announced they are working on developing a CBDC in collaboration with other central banks around the globe. As the country experiences instability and inflation in goods and services, the central bank discusses financial models to fight the imminent crisis.

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How Orbs Upgrades Blockchain Ecosystem with New Layer 3 Architecture

The interesting thing about disruptive technology is you don’t know that it’s disruptive until it has caused a major shift in the way we use, automate, bank, and conduct our daily business as consumers.

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Crypto is “Not A Huge Part” of Morgan Stanley’s Business Demand, But CEO says It’s Not Going To Go Away

Morgan Stanley CEO James Gorman’s trust in cryptocurrency is growing, and he doesn't think it is going anywhere. “I don’t think crypto is a fad. I don’t think it’s going to go away,” said Gorman during the bank’s third-quarter earnings call with analysts this week.

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China Completely Blacklists Crypto Mining, Adds It To The “Negative List For Market Access”

China’s authoritarian government has fixed its sights firmly on cutting all access to cryptocurrency-related activities in the country. Regulators in China banned cryptocurrency trading and mining this year, with the country’s central bank reiterating the ban by announcing that all crypto-related business dealings were now “illegal” late last month prompting cryptocurrency businesses to begin to […]

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Jamie Dimon questions Bitcoin’s viability, says it’s “Worthless”

Chief Executive Officer of JPMorgan Jamie Dimon remains critical of the hype surrounding Bitcoin (BTC/USD). During an event on Monday, he stated that Bitcoin is “worthless. ” While Dimon is still not convinced about the viability and use of Bitcoin, his bank has started doing business with clients who are accessing the crypto asset.

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Swedish FinTech firm appoints former Nordea Head of Trade Finance as CEO

Enigio, a Stockholm-based deep-tech company, has appointed Patrik Zekkar, the former Head of Trade Finance at Nordic bank Nordea, as its new CEO. The company disclosed this news through a blog post earlier today, noting Zekkar’s role will involve heading and expanding its business.

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China Ban: TradingView & Data Sites Inaccessible, Alibaba Stops Miners & Crypto Sales, “Complete Shutdown” for SparkPool Users

Popular cryptocurrency market data sites CoinGecko and CoinMarketCap are not accessible for users in mainland China after the Peoples Bank of China reiterated that crypto-related business activities are “illegal,” which also covered overseas exchanges offering their services to Chinese residents through the Internet.

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Trust Token CEO: ‘DeFi is a transformation in finance’

Benoit Coeuré, Bank for International Settlements official and former member of the European Central Bank’s board of directors, said in a recent speech at an EuroFi event that stablecoins and DeFi in general were ‘challenging banks’ business models’ and authorities had to work on creating official digital assets quickly, highlighting growing fears in traditional financial […] The post Trust Token CEO: ‘DeFi is a transformation in finance’ appeared first on Invezz.

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Fintech Entrepreneurs Launching Blockchain Cards with Unbanked

Ann (not her real name) is an entrepreneur based in Colorado. In the past month, business sales have grown by 16 percent month on month, and 54 percent year on year. But Ann doesn’t accept credit cards for her sales as it’s too expensive and at times against some bank’s rules.  She prefers Litecoin, a […]

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