Tag: Bank

Bitcoin, Satoshi, FTX, Brazil’s central bank

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From billion-dollar Bitcoin movements to courtroom maneuvers and cross-border hacks, this week’s crypto headlines span the strange, the strategic, and the staggering. Dormant wallets from the Satoshi era suddenly sprang to life, Brazilian hackers used crypto to launder stolen bank funds, and FTX sought legal approval to distribute assets in restricted jurisdictions. Meanwhile, Robinhood and Deutsche Bank pushed deeper into blockchain development, Ripple secured a key payments partner, and Bitcoin treasury giants like Strategy and Metaplanet doubled down on accumulation. Here’s a roundup of the biggest developments shaking up the…

Hackers steal $140M in hack of central bank service provider

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C&M Software, the service provider that connects Brazil’s Central Bank to local banks and other financial institutions, was hacked on Wednesday, leading to 800 million Brazilian reais ($140 million), in stolen funds from six institutions connected to the central bank. The hack occurred after an employee of C&M allegedly sold his login credentials to the threat actor for roughly $2,700, allowing them to access the software system and steal funds held in reserve accounts, according to Brazilian news outlet São Paulo. Onchain detective ZachXBT said the hackers converted an estimated…

Peter Thiel Plots Erebor Bank to Replace Silicon Valley Bank for Startups, Crypto

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Peter Thiel and other tech billionaires have reportedly spotted a major market opportunity in the void left by Silicon Valley Bank’s (SVB) 2023 collapse. They are now planning to launch a new financial institution — named after a Lord of the Rings reference — to serve crypto companies and startups that have struggled to secure financing since SVB’s downfall. SVB’s dramatic collapse in 2023 triggered contagion across the US banking sector and led to tighter lending standards. While its assets were later acquired by First Citizens Bank, no institution has…

Japan’s Minna Bank Looks Into Solana Stablecoins

Key Notes Minna Bank plans on exploring the usage of digital wallet and stablecoins in Japan. The research will focus on issuing stablecoins on the Solana chain. The study will also review the use cases of these innovations including asset trading, digital payments and cross-border payments. . Minna Bank, a digital bank based in Japan, has announced a new research initiative to explore the potential role of digital wallets and stablecoins in the country’s financial payment ecosystem. The study is being conducted in collaboration with key partners, including crypto infrastructure firm Fireblocks,…

Solana ($SOL) Gains Institutional Traction as Japanese Bank Explores Stablecoin Payments

Solana declined 3.36% over the past 24 hours, retreating from $155.69 to $150.81, according to CoinDesk Research’s technical analysis model, amid broader market pressures, even as institutional developments in Asia signal growing momentum for the blockchain, One of Japan’s most digitally progressive banks has launched a new initiative that could expand real-world applications for Solana’s infrastructure. Minna Bank, a digital-native bank and a subsidiary of Fukuoka Financial Group, announced a new research collaboration with Fireblocks, Solana, and TIS to evaluate how stablecoins and Web3 wallets can reshape consumer finance in…

Palantir Chief to Invest in Palmer Lucky’s Crypto-Focused Bank

Key Notes Crypto bank Erebor plans to hold stablecoins on its balance sheet and aims to become the most regulated entity facilitating stablecoin transactions. It will also align with broader U.S. efforts like the GENIUS Stablecoin Act to integrate stablecoins into the financial system. Erebor is backed by influential investors, including Peter Thiel’s Founders Fund, with leadership from former Circle adviser Jacob Hirshman. As crypto regulatory developments in the US see a positive change, tech billionaires are exploring crypto-focused investment opportunities in the market. As per the latest development, Palantir…

XRP Could Hit $50 If Ripple Gets Bank License: Crypto Pundit

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Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Vincent Van Code, a software engineer and long-time XRP advocate, ignited fresh debate across the crypto community by outlining what he believes to be the transformative implications of Ripple’s bid for a US banking charter and…

XRP Bullish Pattern And Bank License Trigger Rally

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Key point: Ripple Labs CEO Brad Garlinghouse said in a post on X that the company “is applying for a national bank charter” from the Office of the Comptroller of the Currency (OCC).  Garlinghouse added that the firm would come under federal and state oversight if the license is approved. That would create a “new (and unique!) benchmark for trust in the stablecoin market.” Could XRP (XRP) benefit from the news and break out of its overhead resistance? Let’s analyze the charts to find out. XRP price prediction XRP rebounded…

Peter Thiel and Billionaire Consortium To Launch New Bank Serving Cryptocurrency Startups: Report

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PayPal co-founder Peter Thiel and a handful of other tech billionaires are reportedly launching a new bank partially dedicated to serving crypto startups. According to a new report from Financial Times, Thiel and other investors – such as the CEO of military contracting company Anduril – to create a bank called Erebor, which references to popular fantasy series The Lord of the Rings. FT says the billionaires intend for the bank to serve crypto startups and take the place of Silicon Valley Bank (SVB), a crypto-friendly bank that ended up…

Belgium Bank KBC To Debut Bitcoin Via Bolero: Report

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KBC Bank, one of Belgium’s largest financial institutions, is reportedly preparing to allow its customers to invest in cryptocurrencies through its Bolero subsidiary. Bolero, an online investment platform operated by KBC, will roll out access to Bitcoin (BTC) and Ether (ETH) investments on its platform later this year, local newspaper L’Echo reported on Wednesday. KBC expects to secure regulatory approval for the product by autumn. A spokesperson for KBC confirmed the bank’s plans to L’Echo. “Individual investors could then invest directly in Bitcoin and Ether in a secure environment, with…