🏃 Speedy Crypto Scoop
PartnershipKraken partnered with Deutsche Börse to boost institutional crypto adoption in Europe, aiming to challenge Wall Street’s dominance by combining Kraken’s crypto expertise with DBG’s regulated financial infrastructure.
InnovationEx-Signature Bank executives launched N3XT, a blockchain-powered narrow bank offering instant settlement and programmable USD payments fully backed by cash or US Treasuries, targeting institutional clients with 24/7 compliant operations.
RegulationThe EU proposed to expand ESMA’s powers over crypto service providers and trading venues, aiming to centralize supervision, reduce fragmentation, and better compete with US capital markets while raising concerns about potential impacts on innovation.
MarketRecent $4B outflows from US-listed spot Bitcoin ETFs stemmed mainly from the unwinding of basis trade arbitrage strategies, not institutional capitulation, clearing the way for more conviction-driven long-term holders.
SecurityA tragic incident in Vienna highlighted the rising physical risks for crypto holders, where a student was tortured and killed for crypto passwords, underscoring the urgent need for better user protection against violent attacks.
AdoptionJapanese firm AltPlus announced plans to incorporate Bitcoin and XRP into its corporate treasury, alongside staking income and Web3 business expansion, marking a pioneering institutional crypto adoption move in Asia.