BNY Mellon is working closely with regulators to offer large-scale crypto custody services. Coinshares reported $321 million in digital asset inflows, driven by the Fed’s 50bps interest rate cut. Robert Kiyosaki predicts Bitcoin could reach $500K by 2025 and $1M by 2030, citing global financial instability risks highlighted in an upcoming book by Jim Rickards. In gaming, Hamster Kombat concluded its season 1 token distribution amidst controversy over token slashes for alleged cheating. Lastly, former Monero developer Riccardo Spagni launched a new mining app, Tari Universe, despite facing legal challenges over past fraud charges.
BNY Mellon Engages With Regulators, Fed’s 50bps Cut Triggers Crypto Inflows, and More — Week in Review
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BNY Mellon Engages With Banking Regulators to Offer Crypto Custody Services ‘at Scale’
BNY Mellon, one of the world’s largest custodian banks, is seeking to offer custody services for bitcoin and ether to exchange-traded product (ETP) clients. The bank is also eyeing large-scale growth in the crypto space, with plans to seek more regulatory approvals to capitalize on the lucrative crypto custody market.
Fed’s 50bps Reduction Triggers $321M in Digital Asset Inflows, Coinshares Reports
Digital asset investment products recorded inflows of $321 million in the second consecutive week of positive activity, according to a report by Coinshares. The surge in inflows is largely attributed to the Federal Open Market Committee’s (FOMC) decision to cut interest rates by 50 basis points (bps).
Robert Kiyosaki Predicts Bitcoin Could Hit $500K by 2025, $1M by 2030
Rich Dad Poor Dad author Robert Kiyosaki has shared his expectation that the price of bitcoin could skyrocket to $500,000 by next year and $1 million by 2030. He referenced Jim Rickards’ upcoming book, which warns about the risks AI poses to the global financial system, potentially increasing economic instability.
Hamster Kombat Takes Season 1 Snapshot, Reveals Post- Airdrop Direction
Amidst generalized complaints from users who suffered token slashes for being labeled as cheaters, Hamster Kombat has announced that it has taken a snapshot for its season 1. With this move, the project has already closed the upcoming distribution of tokens, revealing the game’s future steps after the token generation event.
Former Monero Developer Launches New Crypto Mining App
Riccardo “Fluffypony” Spagni, a former Monero developer, has launched a new mining app called Tari Universe. The app aims to make mining accessible to everyone using a user-friendly interface. However, Spagni faces legal troubles related to fraud and forgery charges. Despite the alleged crimes occurring over a decade ago, South African authorities only took action in 2021.
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