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BitGo Scores Crypto Custody License From Germany On Heels Of $100M Funding Round
Wednesday, November 1, 2023 - 3:00pm | 586U.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...
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MEXC Faces Scrutiny For Unapproved Crypto Services In Germany
Thursday, October 19, 2023 - 11:25am | 456Germany'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...
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BitGo Secures $100M Funding Round, Valuation Hits $1.75B
Wednesday, August 16, 2023 - 2:09pm | 501BitGo 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...
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Nasdaq Halts Crypto Custody Service Plans Amid Regulatory Concerns
Wednesday, July 19, 2023 - 2:03pm | 519Nasdaq 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...
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BitGo Calls Off Prime Trust Acquisition In The Crypto Custody Space
Thursday, June 22, 2023 - 2:01pm | 402Cryptocurrency 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...
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Deutsche Bank Dives Into The Crypto Pool Offering Custody Services
Tuesday, June 20, 2023 - 8:39am | 327Deutsche 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...
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USDC Unaffected By Recent Regulatory Action Against Stablecoins, Says Bernstein
Friday, February 17, 2023 - 12:29pm | 376A 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...
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Celsius Network Announces Shift To Crypto Custody Business Model: What You Need To Know
Tuesday, September 13, 2022 - 5:00pm | 390There 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...