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NewsBriefs - Standard Chartered opens new crypto custody service in Luxembourg

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  • Standard Chartered

    Standard Chartered opens new crypto custody service in Luxembourg

    Standard Chartered has launched a new entity in Luxembourg to provide crypto and digital asset custody services to European Union clients, following the implementation of the Markets in Crypto Assets (MiCA) Regulation. This strategic move is part of the bank's broader global digital asset strategy and follows its recent expansion into the United Arab Emirates. The Luxembourg entity, led by newly appointed CEO Laurent Marochini, aims to meet the increasing demand for digital asset services within the EU's well-regulated and financially stable environment.

    Standard Chartered

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    • The Block

      Ripple plans further RLUSD listings on major exchanges including Coinbase

      Ripple has launched its US dollar-pegged stablecoin RLUSD, initially on Ethereum and XRP Ledger, with plans to expand to other networks. Ripple Senior Vice President Jack McDonald discussed efforts to list RLUSD on more exchanges, including Coinbase, highlighting technical and strategic challenges. Despite exclusive ties between exchanges like Coinbase and specific stablecoins, Ripple is optimistic about diversifying exchange offerings and is working towards having RLUSD supported by more platforms.

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      The Block

    • Cointelegraph

      Nick Szabo joins Jan3 as chief scientist to advance global Bitcoin adoption

      Nick Szabo has joined Jan3, a company dedicated to fostering global Bitcoin adoption, as chief scientist. In his new role, Szabo will lead research focusing on Bitcoin's impact on monetary policy and international trade, aiming to establish Bitcoin as a cornerstone of a new global financial system. His appointment coincides with increasing interest from nation-states in using Bitcoin as a reserve asset.

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      Cointelegraph

    • Protos

      Polymarket criticized for hosting betting markets on California wildfires

      Polymarket is facing criticism for its betting markets related to the ongoing California wildfires, with concerns over the ethics of gambling on such sensitive and destructive events. Users have placed nearly $100,000 in bets on various aspects of the wildfires, including their containment and political consequences. The company has been called out by individuals online and by prior critics for promoting such markets, amidst warnings that these markets could incentivize harmful actions.

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    • CoinDesk

      Fears of DOJ Bitcoin liquidation overblown despite $92,000 price drop

      The US Department of Justice has been authorized to liquidate 69,370 BTC seized from the Silk Road, valued at $6.5 billion. Despite fears, potential market impacts from this sale may be overestimated as the market has previously absorbed large Bitcoin volumes, and the expected selling process would be executed methodically to fetch optimal prices. Moreover, with the crypto market's resilience demonstrated in past government sales, and considering the recent rise from $60,000 to over $100,000 per Bitcoin, immediate adverse effects are unlikely to be profound.

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      CoinDesk

    • The Block

      Backpack clarifies its acquisition of FTX EU amid disputes by FTX estate

      Backpack, a crypto exchange founded by former FTX and Alameda Research employees, seeks to clarify its recent acquisition of FTX EU and the responsibilities around distributing customer funds, following disputes and clarifications issued by the FTX bankruptcy estate. The FTX estate disputed the acquisition's approval by the US Bankruptcy Court and backpack's authority to distribute funds to FTX customers. Regulatory approval for the transfer of FTX EU to Backpack was granted by the Cyprus Securities and Exchange Commission.

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      The Block

    • Cointelegraph

      Microsoft announces $3 billion AI and cloud expansion in India

      Microsoft is investing $3 billion to enhance its artificial intelligence and cloud capabilities in India, including the establishment of new data centers and AI training for 500,000 individuals. The plan, revealed by CEO Satya Nadella, includes partnerships with INDIAai and strategical ties with major industry players to boost AI innovation and training across the country.

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      Cointelegraph

    • Standard Chartered

      Standard Chartered opens new crypto custody service in Luxembourg

      Standard Chartered has launched a new entity in Luxembourg to provide crypto and digital asset custody services to European Union clients, following the implementation of the Markets in Crypto Assets (MiCA) Regulation. This strategic move is part of the bank's broader global digital asset strategy and follows its recent expansion into the United Arab Emirates. The Luxembourg entity, led by newly appointed CEO Laurent Marochini, aims to meet the increasing demand for digital asset services within the EU's well-regulated and financially stable environment.

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      Standard Chartered

    • Eleanor Terrett

      Senate Banking Committee to create its first crypto subcommittee

      The Senate Banking Committee, under the leadership of Senator Tim Scott, is establishing its first subcommittee dedicated to crypto, modeled after a similar entity in the House Financial Services Committee. Senator Cynthia Lummis has been tentatively selected as the chair, pending approval through a committee vote in the near future.

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      Eleanor Terrett

    • Hand-Picked

      El Salvador continues Bitcoin buying spree, adds $1 million to strategic reserves

      El Salvador has purchased an additional 11 BTC, valued at approximately $1 million, for its strategic reserves amid its continuing Bitcoin buying spree. The purchase marks the country's third $1 million Bitcoin acquisition since reaching a $1.4 billion agreement with the International Monetary Fund, which requires fiscal consolidation and a reduction in Bitcoin's role in the economy. The country now holds 6,022 BTC, worth $572 million at current prices.

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    • Bullish

      CoinDesk's owner secures crypto trading and custody licenses in Germany, plans EU expansion

      Bullish DE Custody GmbH, part of Bullish Group, obtained licenses for crypto asset trading and custody from the German Federal Financial Supervisory Authority (BaFin). This regulatory approval positions Bullish DE for expansion across the European Economic Area under the MiCA framework. Concurrently, Marco Bodewein was appointed as Managing Director of Bullish DE, enhancing the company's leadership with his extensive experience in financial services and digital asset management.

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      Bullish

    • The Block

      Bitfinex relocates derivatives operations to El Salvador after securing DASP license

      Bitfinex Derivatives has relocated its operations to El Salvador, having obtained a Digital Asset Service Provider license. This move enables Bitfinex to implement innovative trading solutions and extend crypto services within the region's evolving digital economy. Users must accept new terms of service to access the derivatives services now managed by Bitfinex Derivatives El Salvador S.A. de C.V.

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      The Block

    • The Block

      SoSoValue secures $15 million Series A funding at $200 million valuation

      Crypto market data provider SoSoValue raised $15 million in a Series A round, co-led by HongShan and SmallSpark.ai, reaching a $200 million valuation. The funding, completed via a simple agreement for future equity (SAFE) with a token warrant, marks a 300% valuation increase from its post-seed valuation. Besides financing, SoSoValue launched a crypto indices protocol and four wrapped tokens on the Ethereum Layer 2 network, Base, offering diverse exposures such as MAG7.SSI and MEME.SSI.

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      The Block

    • The Block

      South Korea plans to lift ban on institutional crypto trading, reports FSC

      South Korea, through the Financial Services Commission (FSC), intends to lift restrictions allowing local institutions to trade cryptocurrencies. The FSC aims to enable institutional investors to access crypto exchanges and is collaborating with the Digital Asset Committee to implement these changes, starting with non-profit organizations. This shift aligns with President Yoon Suk-yeol's efforts to encourage the local crypto sector and establish a regulatory framework for stablecoins, token listings, and crypto exchanges.

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      The Block

    • Orange Finance

      Arbitrum's Orange Finance hacked, approximately $787,000 in crypto assets stolen

      Orange Finance confirmed a security breach where a hacker accessed its administrative controls and upgraded smart contracts. PeckShieldAlert reported that the hacker transferred about $787,000 in crypto to an external wallet. The attackers manipulated the platform’s code to execute the unauthorized transfers. Orange Finance advises users to cease all contract interactions and revoke any permissions while they investigate and address the security incident.

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      Orange Finance

    • CoinDesk

      Bitcoin drops below $93K amid global sell-off; potential short-term recovery predicted

      Bitcoin erased its gains from early 2025, diving to $92,600 amid broader financial instability and a selloff in crypto markets, but is slightly recovering. Other cryptocurrencies like ADA, RNDR, and APT also faced significant losses. The market downturn triggered nearly $1 billion in liquidations of leveraged positions, primarily affecting those betting on rising prices. Factors contributing to the market's volatility include strong US economic data and warnings of persistent macroeconomic headwinds affecting risk assets including potential interest rate adjustments and upcoming government policies.

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      CoinDesk