Ad The U.S. Federal Reserve announced on Feb. 23 that it had denied a request through which Custodia Bank sought supervision from the government agency. Custodia asked the Federal Reserve to reconsider a similar rejection from last month. At that time, the bank sought to become a member of the Federal Reserve system. The Federal…
Latest Report The SEC vs. Paxos: A deep dive into the implications of the lawsuit and its effects on stablecoins The SEC’s notice to Paxos to stop minting BUSD could have longstanding implications on the crypto market. CryptoSlate’s new report explores the recent and potential consequences of enforcement action against Paxos. Andjela Radmilac · 5…
Ad Deutsche Bank and Memento Blockchain have completed a proof of concept tokenization platform called Project DAMA (Digital Asset Management Access), which aims to simplify launching and accessing digital funds. The project will initially be tested in Singapore due to its crypto-friendly disposition, as well as its status as a globally leading hub for fund…
Ad The general manager of the Bank for International Settlement, Agustin Carstens, said events in the past year “have cast serious doubts on the ability of stablecoins to function as money.” In a Feb. 22 speech, the bank chief argued that what sustains fiat currency is not novel technologies but “the institutional arrangements and social…
Ad Siemens, Germany’s third-largest publicly traded company by market cap, has issued its first digital bond worth €60 million ($64 million) on the Polygon blockchain. The bond was issued in accordance with Germany’s Electronic Securities Act, which came into force in June 2021 and allows the sale of blockchain-based debt to take place. Blockchain-based bonds…
Russian leading lender Sberbank has hinted at plans to launch decentralized finance (DeFi) platform on the Ethereum blockchain by the end of May, 2023, Interfax news reports. Sberbank director of the blockchain laboratory Konstantin Klimenko disclosed that the Russian bank was at an advanced stage of developing its DeFi platform. He said that the Ethereum-based…
Contributor at CryptoSlate Dorian Batycka is a journalist interested in art and technology. He has previously contributed to CoinDesk, Decrypt, Artforum, Artnet News, the Art Newspaper, and many others. He can be found on Twitter and Instagram @temp_projects, where he often memes his way through current financial and art news, scandals, and events.
The Federal Reserve Board on Jan. 27 denied an application by Custodia Bank Inc. to become a member of the Federal Reserve System. The move comes amidst increasing regulatory scrutiny from the highest levels of the US federal government in the wake of industry-wide scandals like FTX and Genesis, which wiped away billions of dollars…
Silvergate Capital, the parent company to the crypto bank Silvergate, has announced it will be suspending Series A preferred stock dividends as it hopes to restructure following heavy loses and FUD surroundings its exposure to several now defunct crypto entities. The company said Jan. 27 that it was doing so to maintain liquidity on its…
The governor of Ireland’s central bank has called for legislators to ban crypto ads aimed at youth, according to a Reuters report dated Jan. 25. Gabriel Makhlouf, Governor of the Central Bank of Ireland, said that a “reasonable number” of young adults had invested their money in cryptocurrency. He added that there is an “uncomfortable”…