Crypto Custody

U.S.-regulated cryptocurrency custody firm, BitGo received a crypto custody license from the German Federal Financial Supervisory Authority (BaFin). The firm already stored crypto assets under the regulator's supervision since 2019 as part of a transitional regime. BitGo’s step, as...

Germany's financial regulator, BaFin, has issued a warning against cryptocurrency exchange MEXC for offering crypto custody services without the requisite approval. The warning accentuates the mandatory regulatory permission needed by entities to offer financial services within Germany. The...

BitGo Inc. announced a successful fundraising round, securing $100 million and elevating its valuation to $1.75 billion. BitGo specializes in safeguarding crypto assets, often using physical vaults to protect private keys, Bloomberg reported. The U.S.-based cryptocurrency custody firm currently...

Nasdaq Inc (NASDAQ: NDAQ) decided to abandon its plans to offer a cryptocurrency custody service due to business and regulatory challenges, according to CEO Adena Friedman. Friedman made the announcement during an earnings call on Wednesday, The Block reported. "This quarter, considering...

Cryptocurrency custody firm BitGo announced on Twitter the termination of its intended acquisition of Prime Trust. The decision was reached after thorough evaluation and efforts to establish a feasible partnership.  “After considerable effort and work to find a path forward with Prime...

Deutsche Bank AG (NYSE: DB) is taking proactive steps toward entering the digital assets space. What Happened: The Frankfurt, Germany-based investment bank formally requesting regulatory approval to provide custody services for cryptocurrencies and other digital assets. "We’re...

A research report by Bernstein suggested the recent regulatory action taken against the Binance USD (CRYPTO: BUSD) stablecoin and its issuer Paxos is specific to BUSD and cannot be applied to other stablecoins like USD Coin (CRYPTO: USDC). What Happened: Some in the industry were concerned...

There seems to be no end in sight for the Celsius Network drama. After filing for Chapter 11 bankruptcy, the crypto lending platform will now shift its business model to crypto custody services.  What Happened: According to a recording sent to the New York Times by Tiffany Fong...