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DekaBank, a German investment bank with 377 billion euros ($395 billion) in assets under management, introduced cryptocurrency trading and custody services for institutional clients after almost two years of development.The Frankfurt-based company’s move follows regulatory approval for a crypto custody license from the Federal Financial Supervisory Authority (BaFin), while operating under the supervision of the European Central Bank (ECB), Bloomberg reported."We have the necessary experience, required licenses and a tested, ready-to-use infrastructure to support savings banks and our institutional clients," board member Martin K. Müller told Bloomberg.DekaBank, the asset manager of the country’s largest financial services group, Sparkassen-Finanzgruppe, is marketing its new offering with a focus on security and regulatory compliance, according to the report. Other cryptocurrency offerings in the...

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.The CoinDesk 20 is currently trading at 3106.99, down 0.8% (-25.47) since last Friday at 4 p.m. ET.5 of 20 assets are trading higher.Leaders: HBAR (+7.8%) and NEAR (+2.1%).Laggards: SOL (-6.0%) and DOT (-6.0%) lag.The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.Source link

Ethena, developer of the synthetic stablecoin USDe, has raised $100 million to finance a similar token targeted at traditional financial (TradFi) institutions, Bloomberg reported on Monday.The funding round was completed in December, with Franklin Templeton and Fidelity Investments-affiliated F-Prime Capital among the backers, the report added, citing a person familiar with the matter. Founder Guy Young said in a blog post in January that Ethena has plans to roll out iUSDe, a token tailored to regulated financial institutions. Known as a synthetic stablecoin, USDe differs from other tokens in that it is not backed 1:1 by fiat assets. Instead, it maintains its peg by collateralizing stablecoins and taking futures positions with large open interest.USDe's market cap has jumped to around...

By Omkar Godbole (All times ET unless indicated otherwise)Bitcoin and ether, the two largest digital assets by market value, remain largely within their recent trading ranges two days after the $1.5 billion hack of Bybit, one of the top cryptocurrency exchanges.Perpetual funding rates for both are positive, indicating a bias for long positions that benefit from price rises. Bitcoin options trading on Deribit show a bullish bias for call options across all time frames, while those tied to ether show a downside bias into March. The bias for ether puts, however, has been present since well before the hack.Meanwhile, Volmex Finance's 30-day bitcoin implied volatility index has dropped to an annualized 48.45%, the lowest since July, according to charting platform...

Bitcoin's (BTC) recent narrow price range between $94,000 and $100,000 has perplexed many market participants.While the largest cryptocurrency historically shows strong directional moves followed by months-long consolidations, known as stair-step price movements, this time feels different. Usually consolidations are followed by a breakout. In contrast, now the range has narrowed. In December it was $90,000-$110,000. Attendees at last week’s Consensus Hong Kong shared the sentiment, with some prominent market makers and industry figures suggesting the rampant memecoin frenzy is a key reason behind the lull in BTC and the broader altcoin market, which feels similar to the lackluster price action from seven years ago."The market has been very saturated with memecoin launches, and crypto natives are kind of exhausted by...