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cointelegraph.com Mar 11, 2025 15:30

Cantor Fitzgerald taps Anchorage Digital, Copper as Bitcoin custodians - Investment banking firm Cantor Fitzgerald has selected Anchorage Digital and Copper as its Bitcoin custodians and collateral managers as it launches its new digital asset financing business targeting institutional investors.In a March 11 announcement, Cantor Fitzgerald said it is rolling out its Bitcoin (BTC) financing business with $2 billion in initial capital to help institutional investors borrow against their crypto holdings. Anchorage Digital and Copper will safeguard clients’ digital assets by acting as custodians and collateral managers, the company said. Source: Anchorage DigitalAnchorage Digital is an institutional cryptocurrency platform that operates the only federally chartered digital asset bank in the United States.Copper is a crypto custodian backed by Barclays, the British multinational financial institution.Copper CEO Amar Kuchinad said Cantor Fitzgerald’s new offering will help institutional investors “diversify their portfolios” into digital assets. He cited the “growing demand for sophisticated financing solutions” in the Bitcoin space. Cantor Fitzgerald unveiled plans for its BTC financing business in July of last year “to provide leverage to investors who hold Bitcoin,” the company said at the time.Since then, the company has broadened its exposure to the digital asset market, including acquiring a 5% stake in stablecoin issuer Tether.Cantor Fitzgerald has more than $5 billion in assets under management, based on the latest regulatory filings.Related: Bitcoin miner CleanSpark to join S&P SmallCap 600 IndexInstitutional Bitcoin demand remains strong despite market volatilityThe successful launch of US spot Bitcoin exchange-traded funds (ETFs) more than one year ago revealed the huge pent-up demand for BTC among institutional investors. By February, Bitcoin exchange reserves had fallen to more than two-year lows thanks to institutional buying pressure.Despite the recent market sell-off that was triggered by the US-led tariff war and recession fears, institutional Bitcoin investments continue to grow, with more Wall Street firms moving into the custody business. As Forbes reported, Citi and State Street are planning to offer crypto custody services by 2026. A separate Bloomberg report on March 11 revealed that German exchange group Deutsche Boerse is planning to launch Bitcoin and Ether (ETH) custody beginning next month.Magazine: SEC’s U-turn on crypto leaves key questions unanswered

FOMO: 90%
cointelegraph.com Mar 11, 2025 16:27

Coinbase plans India comeback with FIU registration - Cryptocurrency exchange Coinbase is one step closer to relaunching its services in India after securing a license with the country’s Financial Intelligence Unit (FIU). On March 11, the crypto exchange revealed on social media that “we’re approved to launch in India,” which prompted a follow-up from Coinbase’s chief legal officer, Paul Grewal.“Coinbase is now FIU-registered,” said Grewal. “It’s a major step towards empowering Indian entrepreneurs to build, innovate and scale global onchain businesses — all from home.”A Coinbase blog post confirmed that the exchange plans to offer cryptocurrency trading services in the country but did not specify a timeline for service rollout. In addition to crypto traders, India’s developer community could benefit from the availability of Coinbase and its related tools, including its Base network, according to the company’s APAC regional managing director, John O’Loghlen.Cointelegraph contacted Coinbase for more information about its India launch plans but did not receive an immediate response.Coinbase’s first foray into India in 2022 lasted mere days after it ran into issues with the country’s central bank. Coinbase said at the time that it was “committed to working with [...] relevant authorities to ensure that we are aligned, with local expectations and industry norms.”Related: India may change crypto policy due to international adoption: reportIndia pivots on cryptoIndia has had a complicated history with cryptocurrency, with the FIU banning several crypto exchanges over the years. Legal expert Amit Kumar Gupta told Cointelegraph that many lawmakers view the industry negatively, associating it with gambling and illegal activities. This partly explains why some elements of the Indian government want to purge the sector by implementing harsh tax laws.Nevertheless, the tides appear to be shifting as global crypto adoption heats up, which has prompted fears that India will be left behind. In February, Reuters cited India’s economic affairs secretary Ajay Seth as saying that cryptocurrencies “don’t believe in borders,” suggesting that the country needs to get ahead of the adoption curve.In terms of crypto adoption, India receives the highest grades among CSAO countries. Source: ChainalysisDespite the controversy, India has emerged as the leading country in terms of crypto adoption within the Central, Southern Asia and Oceana (CSAO) region, according to a 2024 report by Chainalysis. India received especially high marks for retail and decentralized finance adoption, the report said.Magazine: How crypto bots are ruining crypto — including auto memecoin rug pulls

FOMO: 85%