Crypto News

Custodia Bank, a brave knight in the crypto banking world, filed a lawsuit in 2022, claiming the Federal Reserve was legally obligated to give them access to a master account. The master account would have allowed Custodia to interact directly with the Fed’s clearing and settlement systems – and basically skip the line. Imagine faster payments, less waiting, and the possibility of crypto actually playing nice with traditional banking systems. 🙌

Turns out, their secret sauce? Holding Bitcoin like it’s the last slice of pizza at a party. 💸

Cathie Wood, that doyenne of daring investments, has expanded her crypto empire again, adding more than 105,000 shares of Bullish (that’s a lot of zeros) worth a tidy $5.3 million. Spread across her ETF kingdom – ARKK, ARKW, and ARKF – this gives her a total of about 2.27 million shares, valued at $114 million, because why not make it a round figure? 🎯

Bank Negara Malaysia (BNM), the nation’s central bank, has launched a Real-World Asset (RWA) tokenization initiative so grand it makes a wizard’s spellbook look modest. Alongside this, they’ve conjured a Digital Asset Innovation Hub (DAIH) – a place where reality meets code, and maybe a few caffeine-fueled all-nighters. An industry working group has also been formed, presumably to figure out if “tokenizing a tree” is just a fancy way of saying “plant a tree.”

XRP, that ever-optimistic digital token, has joined the circus with gusto. In June, Singapore’s Trident Digital declared their intent to conjure $500 million from the void to build an XRP treasury-because why not? 🎩💰

In the grand theater of financial folly, MEXC steps forward, cloak billowing, to deny the accusations of insolvency. “False and misleading,” they cry, with all the conviction of a cornered rat. 🧀 “Strong financial health,” they proclaim, as the crowd murmurs and the analysts raise an eyebrow. 🧐 Yet, the Merkle tree, that ancient arbiter of truth, is promised to reveal all. Will it bear fruit, or merely wither under scrutiny? 🌳

Behold, Pudgy Penguins PENGU has descended with a most ungracious fall, dropping over 10% in 24 hours, now perched near $0.0185. This correction, a most cruel jest, has seen it retreat from the $0.025 heights, breaking below short-term support like a foolish suitor. The market cap, now at $1.16 billion, and daily volume of $247 million, speak of a populace still enamored, though their patience wanes. 🎭

Now, in the annals of banking lore, Custodia had applied for this grandiose item known as a Fed master account all the way back in 2020, dreaming of an ideal world where crypto banking cozied up nicely with the traditional variety. After a suspenseful 19-month wait, akin to a Victorian tea party noodling for cucumber sandwiches, the Fed denied the request in January 2023. The cause? Something about Custodia’s approach to risk management not quite quenching the Fed’s utmost meticulous thirst for financial stability. 😅

For decades, Japan has found itself in a most vexing predicament: what to do with all this power, generated by wind and sun, when no one actually requires it? Excess, you understand, is quite distasteful. Now, instead of simply… discarding it (a practice so utterly barbarous!), a large utility will direct this surplus into the very heart of the machine – into Bitcoin mining, of all things. A most peculiar solution, one might observe.🙄

The bill’s design was as simple as it was ambitious: to open the gates wide for crypto miners, shielding them from the prying eyes of local authorities. No more rules on how much power these digital treasure hunters could siphon nor regulations on the clamor they create-imagine that, neighborhoods echoing with the hum of machines chasing digital riches like restless ghosts. Also, no taxes to burden the miners-a true utopia, or so they claimed.