Singapore fines nine banks $21.5M over failures in a $3B money laundering scandal. Crypto assets were among the seized funds, pulling digital …
Banks
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DeFi
Stablecoin banks like Erebor could inherit DeFi’s weakest links, says Web3 security firm
by shayaanby shayaanAs Erebor fills the void left by the collapsed SVB, experts are warning about the potential risks of stablecoin integration with banking. …
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Smart Contracts
How a Hacker Spent Only $2.7K to Steal $140 Million From Brazilian Banks
by shayaanby shayaanIn short Hackers have stolen $ 140 million from a network of Brazilian banks connected to the country’s central banking system. The …
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Analysis
JPMorgan Chase Predicts Massive Correction for Circle (CRCL) – Here’s the Bank’s Price Target: Report
by shayaanby shayaanJPMorgan analyst Kenneth Worthington reportedly expects the stock of the New York Stock Exchange-listed stablecoin issuer Circle (CRCL) to fall by double-digit …
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Finance
One of the Largest Cryptocurrency Banks in the US Has Asked Its Customers to Sell Three Cryptocurrencies, Sparking Controversy
by shayaanby shayaanAnchorage Digital, a federally chartered bank that provides crypto custody services, has announced that it will be advising its institutional clients to …
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Scams
Trump Blames Biden for Banks Blocking Crypto: ‘There Is a Lot of Debanking’
by shayaanby shayaanIn brief President Trump called the practice of denying banking services to crypto companies and conservatives “very bad and very dangerous.” Trump …
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Markets
Asia Morning Briefing: Asia's Banks Look to Stablecoins to Prevent Deposit Flight
by shayaanby shayaanGood Morning, Asia. Here’s what’s making news in the markets: Welcome to Asia Morning Briefing, a daily summary of top stories during …
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In brief Bank of Korea officials want stablecoin issuance to start with regulated banks to minimize risks before expanding to other sectors. …
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Regulation
Powell reaffirms Fed has no issues with banks conducting crypto activities
by shayaanby shayaanFederal Reserve Chair Jerome Powell reaffirmed that the central bank does not object to U.S. banks providing services to cryptocurrency companies or …
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Regulation
Fed joins regulators dropping reputational risk factor, clearing banks to serve crypto firms
by shayaanby shayaanThe Federal Reserve Board on June 23 removed reputational risk from its bank supervision program, ordering staff to strike the term from …