• Bitzlato, a crypto exchange, exchanged around €1 billion ($1.086 billion) in assets linked to criminal activities.
• SEBA Bank launched a multi-tiered membership program for institutional clients.
• The US Federal Home Loan Banks System has lent billions of dollars to two of the largest crypto banks, Signature Bank and Silvergate Capital.
Today in Crypto, a revolution is underway. Bitzlato, a crypto exchange, has reportedly exchanged around €1 billion ($1.086 billion) in assets linked to criminal activities. This news comes on the heels of a US charge against the exchange, which was quickly followed by an announcement from EU’s law enforcement agency Europol that targeting crypto exchanges is becoming a key priority in the battle against cybercrime.
At the same time, SEBA Bank, a licensed digital assets bank, has launched a multi-tiered membership program for institutional clients. This program is designed to offer professional investors access to institutional-grade crypto and traditional financial services. Additionally, the Corporate program is available to companies that are active in the field of crypto and need traditional banking services.
Finally, the US Federal Home Loan Banks System (FHLB), a consortium of 11 regional banks, is lending billions of dollars to two of the largest crypto banks, Signature Bank and Silvergate Capital. This move is said to be an effort to ease the effects of the rise in withdrawals. The FHLB has reportedly lent close to $10 billion to Signature Bank and $3.6 billion to Silvergate Capital.
In sum, these developments suggest that crypto is continuing to make a mark on the financial world. With more digital assets exchanges, banks, and financial institutions entering the space, it seems that the crypto revolution is just beginning.