Although the week started on a negative tone due to news that FTX received approval from a US bankruptcy court to sell its crypto holdings, markets recovered to end the week on the positive side with the Nasdaq Crypto Index (NCI) increasing 2.3%, Bitcoin (BTC) leading the way with a 3.1% increase and Ether up 0.9%.
Franklin Templeton joins spot bitcoin ETF race
Franklin Templeton, one of the world’s largest asset managers, is following other leading institutions aiming to attract substantial institutional investment and potentially inject trillions into the crypto market. This news reassures our view that institutional adoption continues at full steam.
Deutsche Bank gets into crypto custody, tokenization
German giant Deutsche Bank has announced a strategic collaboration with Taurus, a Swiss digital asset infrastructure provider, to create a solution for crypto custody and tokenization. Deutsche joins other traditional financial institutions like Standard Chartered, BNY Mellon, and Société Générale, all of which have already ventured into offering crypto custody.
Telegram adds self-custodial crypto wallet worldwide, excluding the US
Telegram unveiled a self-custodial crypto wallet designed to work seamlessly with The Open Network (TON) blockchain and was developed by Open Platform, a company associated with the TON ecosystem. Notably, this new wallet release follows Telegram's earlier custodial wallet, which boasted three million users, and steps forward in bringing crypto access to the broader public through well-established Web2 applications.
CFTC charges DeFi protocols with violating AML rules, operating without licenses
Last week, the CFTC charged three decentralized platforms – ZeroEx, Opyn and Deridex – with offering illegal derivatives trading. These actions will hopefully encourage deeper discussion around to what extent decentralized applications can be regulated.
From Hashdex: Bitcoin’s link between low volatility and outsized returns
Our research team draws very interesting conclusions about bitcoin’s periods of low volatility, including the one we are in right now. Although rare, these low volatility periods have led to above-average returns. And in some cases, significantly outsized returns.
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