Swiss-based crypto bank Sygnum has achieved profitability in the first half of 2024, marking a significant milestone in the digital asset industry. The bank’s success is attributed to robust growth across its core business segments, including custody, trading, and lending services. With assets under administration surpassing $4 billion, Sygnum caters to clients from over 60…
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Swiss crypto bank Amina Bank has partnered with Pyth Network to provide more accurate price feeds for users. This collaboration brings Amina Bank closer to its goal of enhancing the user experience and accessibility of Web3 applications. The real-time price feeds allow Amina Bank to generate an entirely new revenue stream for its business without…
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New York Community Bancorp (NYCB) made headlines on Wednesday as its stock experienced a dramatic plunge of 42% before staging a rebound following the announcement of a $1 billion capital raise. The bank also unveiled a leadership shake-up, featuring former Treasury Secretary Steven Mnuchin as one of the new board members. In a press release issued on…
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The Hong Kong Monetary Authority said on Sept. 10 that crypto firms presenting themselves as banks are in contravention of the region’s Banking Ordinance. The HKMA argued such descriptions “may mislead members of the public into believing that those crypto firms” are financial institutions that they can trust. False Descriptions Contravene Banking Ordinance The Hong…
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SEBA Hong Kong’s approval joins a flurry of regulated crypto activity that’s taken place over the past month. The Hong Kong arm of crypto-friendly Swiss bank SEBA Bank has received in-principle approval from the Hong Kong Securities and Futures Commission (SFC) allowing it to deal in virtual assets. On Aug. 30, SEBA Hong Kong said…
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San Francisco’s SoFi Bank, a rising financial institution with 6.2 million customers, has unveiled its substantial cryptocurrency holdings, demonstrating a proactive embrace of the evolving digital asset landscape. BTC, ETH, and DOGE Lead the Way A recent report shows that the bank’s second-quarter earnings totaled $170 million in various cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH),…
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The CEO of Gemini says things would’ve been handled differently if First Republic was a “crypto” bank. Cameron Winklevoss, the co-founder and CEO of New York-headquartered crypto exchange Gemini, has accused United States regulators of perpetrating double standards in handling the First Republic Bank crisis. According to Winkelvoss, if First Republic had been a “crypto…
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Plaintiffs seeking damages from Silvergate’s collapse have joined forces with their respective lawsuits. A California judge has combined three investor lawsuits against defunct crypto bank Silvergate Bank involving the bankrupt crypto exchange FTX. On April 19, United States District Judge Jacqueline Scott Corley of the Northern District of California ruled that the three lawsuits would…
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Postfinance, one of Switzerland’s largest retail banks, will offer customers access to major cryptocurrencies and related services. The state-owned financial institution will be using the banking platform developed by the Swiss-licensed digital asset bank Sygnum. Postfinance Partners With Sygnum to Provide Digital Asset Products and Services The financial services unit of the national postal service…
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The crypto-friendly Signature Bank was a key partner for many crypto firms, some which have been voluntarily disclosing their exposure to the recently closed firm. Crypto exchange Coinbase, crypto lender Celsius and stablecoin issuer Paxos are among the crypto firms with funds reportedly tied up with the now-shuttered Signature Bank. The crypto-friendly Signature Bank was…
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