Standard Chartered will provide digital asset custody for 21Shares, signaling deeper TradFi expansion into crypto and raising questions about Zodia Custody’s future role. Major bank Standard Chartered announced fund manager 21Shares has selected it as its digital asset custodian, potentially moving away from a crypto-native partner. According to a Monday announcement from Standard Chartered shared with Cointelegraph, the bank will provide crypto custody services to 21Shares, which offers multiple exchange-traded crypto products. Margaret Harwood-Jones, the bank’s global head of financing and securities services, said the collaboration allows them to “to extend our expertise into the fast-evolving digital asset ecosystem.” However, 21Shares already had a crypto-native custody partner. In late June 2024, the fund manager partnered with crypto-native custodian Zodia Custody to hold its assets. Zodia Custody was co-founded by Standard Chartered in 2020 and operated as a wholly owned subsidiary, indicating that th...
How a 100 Bitcoin scam, World of Warcraft and a tour of China with Vitalik Buterin led Louis Vuitton’s IT guy Sunny Lu to create VeChain. VeChain founder and CEO Sunny Lus first experience buying Bitcoin is the kind of moment that sticks with you for life, but not in the way most Bitcoin OGs would hope. The first encounter with Bitcoin, I got scammed in 2012, Lu tells Magazine. The timing couldnt have been worse. Lu desperately needed that Bitcoin to solve an urgent crisis in his life. Read more
How a 100 Bitcoin scam, World of Warcraft and a tour of China with Vitalik Buterin led Louis Vuitton’s IT guy Sunny Lu to create VeChain. VeChain founder and CEO Sunny Lus first experience buying Bitcoin is the kind of moment that sticks with you for life, but not in the way most Bitcoin OGs would hope. The first encounter with Bitcoin, I got scammed in 2012, Lu tells Magazine. The timing couldnt have been worse. Lu desperately needed that Bitcoin to solve an urgent crisis in his life. Read more
Regulators and the Bank of Korea remain at odds over bank dominance in issuing won-backed stablecoins, stalling a long-awaited framework expected this year. South Korea is likely to end the year without a framework for locally issued stablecoins, amid ongoing disputes over the role of banks in stablecoin issuance. The country’s central bank, the Bank of Korea (BOK), and other financial regulators have clashed over the extent of banks’ involvement in issuing Korean won-backed stablecoins, delaying a framework widely expected to arrive in late 2025, the Korea JoongAng Daily reported Tuesday. According to the BOK, a consortium of banks should own at least 51% of any stablecoin issuer seeking regulatory approval in South Korea, while regulators are more open to the involvement of diverse industry players. Read more
A former lawyer for Coinbase, Khurram Dara, has thrown his hat in the race for New York attorney general. But incumbent Letitia James has a strong foothold, and a Republican hasn't won in 30 years. A former policy lawyer at crypto exchange Coinbase is running for attorney general of New York. His bid to represent the crypto industry’s interests runs against a strong Democratic bias and concerns over industry influence in policymaking. Khurram Dara, who also worked as a regulatory and policy principal at Bain Capital Crypto, announced his campaign on Nov. 21. In a video accompanying his post on X, Dara said he wants to stop the supposed “lawfare” that current Attorney General (AG) Letitia James is waging against the crypto industry. Dara said that the reportedly unfair treatment of the industry drives up costs for New Yorkers. New York City Mayor-elect Zohran Mamdani recently won his election with a focus on cost-of-living issues. Read more
Diversification has become the top driver for crypto investment in 2025, with rising ETF demand and lingering regulatory gaps shaping investor behavior. Portfolio diversification has overtaken the pursuit of the “crypto megatrend” as the top reason for investing in crypto in 2025, according to Sygnum Bank’s new Future Finance Report 2025. According to the report, 57% of respondents now view diversification as their primary motivation for investing. This surpassed last year’s top driver, exposure to crypto’s long-term upside, which fell from 62% to 53%. “This could indicate that crypto is now being used more deliberately as a core portfolio component, with its perceived diversification benefits taking precedence over chasing pure upside potential,” Sygnum wrote. Read more
Bitcoin saw one of its largest supply migrations ever as traders braced for the US Federal Reserve’s December rate decision and shifting expectations toward a rate cut. A historic shift in Bitcoin ownership unfolded during the latest market downturn, while the broader crypto market remained tied to uncertainty over a possible US Federal Reserve rate cut in December. Over 8% of the total Bitcoin (BTC) supply changed hands in the past seven days, making the current market decline “one of the most significant onchain events” in Bitcoin history, according to Joe Burnett, analyst and director of Bitcoin Strategy at Semler Scientific. During previous significant Bitcoin supply movements, Bitcoin traded at about $5,000 in March 2020 and around $3,500 in December 2018, said Burnett in a Tuesday X post. Read more