Venmo’s 60 million users can now fund transactions on the Moonpay platform, thanks to a new integration announced by Paypal. U.S. users can use Venmo balances, linked bank accounts, or cards to buy and sell cryptocurrencies through Moonpay, expanding payment flexibility. However, this option is unavailable in New York and Texas, continuing Paypal’s push into…
Banking giant Standard Chartered is predicting a sharp rise in bitcoin’s value, with forecasts suggesting it could approach its all-time high of $73,800 as the U.S. presidential election nears. Rising Treasury yields, growing interest in bitcoin ETFs, and Trump’s improving election odds are key factors driving this potential rally, supported by increasing institutional inflows and…
Prominent centralized bank SBI has announced a partnership with 21X for digital assets listing. Several banks have incorporated crypto and digital assets listing in the past months. In the last 24 hours, amid several news reports, the cryptocurrency sector witnessed the release of governmental institutions’ Bitcoin holdings data. The governmental reserves alone account for 2%…
Market News Commerzbank offers crypto trading services via Crypto Finance. The service will start with Bitcoin and Ethereum, aimed at specific corporate clients of Commerzbank in Germany. Commerzbank, Germany’s second-largest bank by branches, has partnered with Crypto Finance, a subsidiary of Germany’s largest stock exchange operator, to provide crypto trading services for its corporate clients. …
Silvergate Capital Corp., a former crypto-centric bank, has declared chapter 11 after the company closed the process of its wind-down in the past 18 months. This is a very sensitive period in the context of cryptocurrency banking, which shows that the work of banks as counterparts of the cryptocurrency market is not easy. Silvergate: From…
The US SEC is keeping its strict rules on how banks handle cryptocurrency assets. SEC Chief Accountant Paul Munter confirmed that the rules requiring firms to list crypto asset liabilities on their balance sheets are still in effect. The U.S. Securities and Exchange Commission (SEC) has reinforced its strict stance on limiting crypto custody services…
Acting Comptroller Michael Hsu has emphasized the importance of proactive oversight in managing crypto risks. He cited the 2022 crypto market collapse, with a $2 trillion loss, where effective supervision kept banks stable. Hsu emphasized the need for vigilant supervision as digital assets and fintech increasingly integrate with traditional banking, presenting new challenges and risks….
Falling for crypto scams, the former CEO of Kankas Heartland Tri-state Bank is sentenced to 24 years in prison. Crypto scams pose significant risks to both individuals and organizations. The Former CEO of Kankas Heartland Tri-state Bank is sentenced to 24 years in prison. You reap what you sow is now vividly seen in the…