Author: Benjamin Lee
Institutional investors just sold an overall total of $414 million in Bitcoin and crypto assets in one week, according to a new update from CoinShares. It marks the first selloff in five weeks amid concerns over the prolonged Iran conflict and higher inflation. The US led the outflows with $445 million. Switzerland recorded minor outflows of $4 million. Germany and Canada bought the dip, adding inflows of $21.2 million and $15.9 million respectively. Ethereum suffered the heaviest losses with $222 million outflows, pushing its year-to-date flows into a net outflow of $273 million. Bitcoin saw $194 million outflows but still…
The US-based crypto exchange Coinbase has added two little-known crypto assets to its listing roadmap. The exchange says it’s considering adding Diem (DIEM) and Opengradient (OPG) to its platform for spot trading. “The launch of trading for these assets is contingent on market-making support, and sufficient technical infrastructure. We will announce the launch of trading separately once these conditions have been met.” DIEM is an ERC-20 token on the Base blockchain from Venice.ai. The coin is designed to tokenize AI compute as an onchain asset, with each token representing $1 per day of renewable, never-expiring access to Venice’s AI models…
A leading stablecoin issuer has secured federal approval to launch a dedicated trust bank for digital asset custody services. Circle Internet Group says it has received final approval from the U.S. Office of the Comptroller of the Currency to establish First National Digital Currency Bank, N.A., operating as Circle National Trust. The new institution will provide institutional custody for USDC and other digital assets under full federal oversight. Circle Chairman and CEO Jeremy Allaire says the milestone strengthens Circle’s regulated infrastructure and places the bank under direct OCC supervision. “OCC approval to establish Circle National Trust marks a defining step…