Tag: Bank

Sygnum Closes $40M Round As the Crypto Bank Nears ‘Unicorn’ Status

“The broader industry is emerging from the ‘crypto winter,’ and investors and market participants are increasingly seeking to partner with trusted and well-managed financial institutions,” Gerald Goh, the firm’s co-founder and CEO of its Singapore operations, said in a release. “For Sygnum, this fundraise will allow us to further build out our suite of fully regulated solutions to support investors as they increase their exposure to the asset class. Source

US Bank Foresees Major Bitcoin Price Drop To $20,000

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The crypto space is currently facing bearish signals as the price of Bitcoin has failed to maintain crucial levels at $42,000, slipping to $39,909 at the time of writing. United States financial service provider Deutsche Bank, foresees even more declines in the upcoming months, projecting the value of Bitcoin to dip below $20,000.  Deutsche Bank Predicts Massive Bitcoin Decline Reports from Bloomberg, referencing a recent survey made from January 15 to January 19, 2024, by Deutsche Bank reveals investor’s sentiments regarding the volatility and future trajectory of BTC’s price. The…

Retail investors worry bitcoin will plunge below $20,000, bank survey says

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Crypto skeptics aren’t changing their tune just because they can now buy bitcoin exposure through an exchange traded fund, according to a Deutsche Bank survey. Since the launch of the ETFs on Jan. 11, bitcoin has fallen about 20% to roughly $39,000, according to FactSet. So far, institutions have been slow to adopt the new funds in portfolios and retail investors aren’t entirely convinced they need to, London-based Deutsche Bank analyst Marion Laboure said in a note Tuesday. The bank polled 2,000 consumers across the U.S., U.K. and Europe after…

American Investment Bank TD Cowen Says Ethereum ETF Will Be Delayed

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Despite the United States Securities and Exchange Commission (SEC) granting approval for Spot Bitcoin ETFs, TD Cowen, a prominent American investment bank and financial service firm, foresees potential delays in the approval process of Ethereum Spot ETFs.  Ethereum Spot ETF Faces Potential Hold-Up TD Cowen, an investment bank and financial service division of TD Securities has made a bold forecast, predicting that the US SEC is unlikely to approve Ethereum Spot ETFs before its deadline. Presently, the SEC is obligated to make its final decision on its rejection or acceptance…

Global Mega Bank Standard Chartered Releases Bullish Forecast For Spot Bitcoin ETFs

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Standard Chartered Bank is the latest to give its predictions on the impact Spot Bitcoin ETFs could have on Bitcoin’s price in the long term. The bank took a bullish stance as they predicted that BTC could rise to unprecedented heights by the end of 2025.  Bitcoin Could Hit $200,000 By End Of 2024 According to a report by Standard Chartered shared on the X (formerly Twitter) platform, BTC’s price could reach $200,000 by end-2025. There is the potential for Bitcoin to hit this price level with $50 to $100…

Fidelity’s spot Bitcoin ETF launches on DTCC debut, Ethereum whales bank on AI altcoin

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. A spot Bitcoin ETF by Fidelity was recently listed on the DTCC website. This development might push Bitcoin prices further, generating a positive outlook for other cryptocurrencies. Meanwhile, an anonymous Ethereum whale is doubling down on InQubeta (QUBE). This project merges artificial intelligence (AI) and blockchain technologies.  This article explores why the Ethereum whale considered InQubeta as Fidelity’s spot ETF lists on DTCC. InQubeta presale success InQubeta is a platform that…

Nigeria’s Central Bank Fleshes Out New Rule Allowing Crypto Firms’ Access to Bank Accounts

Nigeria’s push to increase oversight of digital assets aligns with recent initiatives from neighboring African nations, where cryptocurrencies have become increasingly popular as hedges against inflation. In 2022, Botswana passed a law regulating the digital assets sector despite opposition from some lawmakers in the country. Meanwhile, the Bank of Mauritius has been planning to launch a central bank digital currency, Bloomberg News reported. Source

Nigerian central bank publishes rules for opening crypto accounts

Nigeria’s apex bank expanded on its decision to reverse a crypto ban on financial service providers, providing clear rules to oversee operations moving forward.  The Central Bank of Nigeria (CBN) announced stringent rules for banks as the watchdog pivoted away from a blanket crypto ban toward regulation for virtual asset service providers, citing a need to align with global trends underpinned by blockchain technology and digital assets.  According to the CBN, operators like crypto exchanges and digital asset brokers can only open naira-denominated bank accounts. Nigeria’s top bank also said…