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.
This week saw banking giant BNY Mellon making waves in the crypto industry with its plans to offer large-scale crypto custody services. The move comes as a response to the growing demand from ETP clients for secure storage solutions for their bitcoin and ether holdings.
Meanwhile, digital asset investment products continued to see positive inflows, amounting to $321 million in the second consecutive week, according to a report by Coinshares. The inflows were largely driven by the Federal Open Market Committee’s decision to cut interest rates by 50 basis points.
In other news, Rich Dad Poor Dad author Robert Kiyosaki shared his bullish predictions for bitcoin, expecting the cryptocurrency to reach $500,000 by 2025 and $1 million by 2030. His projections come as Jim Rickards' upcoming book highlights the risks posed by AI to the global financial system, potentially heightening economic instability.
Furthermore, Hamster Kombat concluded its season 1 token distribution, announcing a snapshot to complete the airdrop. However, the project faced controversy after slashing tokens from users who were flagged for cheating.
Lastly, former Monero developer Riccardo “Fluffypony” Spagni launched a new mining app called Tari Universe, aiming to make the process accessible to everyone. Despite launching the app, Spagni continues to face legal challenges over fraud and forgery charges that allegedly occurred over a decade ago.
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