Archive | citigroup

Crypto Week In Review: Institutions Finally Ready to Commit to Bitcoin

Although the collective value of all crypto markets is only a tad above its year-to-date low, institutions still seem poised to tackle digital assets head on, with an array of Wall Street giants making meaningful moves throughout the past week. BitGo Receives U.S. Regulatory Approval To Launch Custody Solution On Thursday, CNBC divulged that BitGo, a well-known… […]

$150B Money Laundering Probe of Danske Bank Implicates Citigroup and Deutsche Bank

U.S. law enforcement agencies have started their money laundering investigations of Danske Bank, Denmark’s largest bank, according to the Wall Street Journal. Citigroup and Deutsche Bank have been implicated. Danske Bank is also currently under investigation by Denmark and Estonia and its CEO reportedly ignored warnings of suspicious transactions. Also read: 160 Crypto Exchanges Seek to […]

Citigroup, Morgan Stanley’s Roadmap Shows Institutional Demand For Bitcoin is Surging

Over the past week, Citigroup and Morgan Stanley have doubled down on their plans to offer tradable instruments and products around Bitcoin. Alistair Milne, the chief information officer at Altana Digital Currency Fund, stated that the increasing interest towards cryptocurrencies as an asset class by banks and regulated financial institutions is crucial, as it demonstrates… […]

Morgan Stanley Ventures Into Bitcoin Trading, Following Other Wall Street Giants

Morgan Stanley has become the latest Wall Street firm to venture into Bitcoin trading, with reports emerging that the investment bank intends to offer its clients derivatives tied to the crypto. Citing a source with knowledge on the matter, Bloomberg reported today, September 13 that the bank has already set up the infrastructure required for […]

Morgan Stanley to Offer Bitcoin Trading, Following Citigroup and Goldman

$83 billion investment bank Morgan Stanley is following the footsteps of Citigroup and Goldman Sachs, and will soon offer Bitcoin swap trading to its clients. As reported by Alastair Marsh at Bloomberg, the US banking giant has already developed the infrastructure required to offer complex derivatives tied to Bitcoin and will launch Bitcoin swap trading… […]

Crypto is Having the Most Positive Month in History, When Will Prices Reflect it?

The crypto market is having arguably the most positive month in its nine-year history. Yet, the price of major cryptocurrencies like Bitcoin and Ethereum have struggled to reflect optimistic developments in the industry. 13 days into September and the crypto market has seen Gemini introduce the market’s first fully audited and licensed stablecoin, EU commission… […]

Crypto Price Crash Similar to Dot-Com Bubble, and That’s not a Bad Thing

As Bitcoin ranges in the $6,000-7,000 range and regains its market dominance, many altcoins are being pushed to their year-to-date lows which is resulting in an overwhelmingly bearish market sentiment. Due to the negative market sentiment, mainstream media outlets have been quick to liken the 2018 crypto crash to the dot-com bubble burst in 2000…. […]

Wary Crypto Institutional Investors Could Benefit from Citigroup’s Digital Asset Receipt

Banking giant Citigroup is set to launch a digital asset receipt system to promote cryptocurrencies to institutional investors in another move linking the bank with digital currency. A report from Business Insider has linked Citigroup with an idea to invest in cryptocurrencies in the form of digital asset receipts. The digital asset receipt (DAR) is […]

Citigroup Preparing New, Less-Risky Crypto Product for Investors

New York-based multinational financial services and investment bank, Citigroup, has reportedly created a new, less risky way of investing in cryptocurrencies in hopes of potentially luring investors who are still on the fence and reluctant to invest in the space due to the risks associated with crypto assets. Citigroup Has Created the Digital Asset Receipt According… […]

Citigroup Reportedly Eyeing Crypto Products

It appears that US banking giant Citigroup is looking into crypto products, according to an insider at the bank. In April, an initial expression of interest was expressed by the group through a report entitled ‘Bank of the Future: The ABCs of Digital Disruption in Finance’, suggesting in the report that in the future banks […]

Malta Banker Association Chair Says Crypto Will Make Banks Obsolete

Marcel Cassar, chairman of the Malta Bankers Association (MBA), has told The Malta Independent that cryptocurrencies may pose a significant threat to banks, possibly making them obsolete. He suggested that the threat to banking of mainstream cryptocurrency adoption was because “their traditional role as main payment intermediary for funds and currency transmission will become challenged, […]

Citigroup Lists Multiple Job Openings for Certified Bitcoin Professionals

Even though the public’s interest in cryptocurrency has not slowed down in the slightest, there are still risks associated with it. Citigroup acknowledges the potential impact of Bitcoin, yet it aims to gain a better understanding of this new form of money. As such, the company is looking to hire people with a “Bitcoin Professional […]

Citigroup Searches for Bitcoin Professionals to Deter Money Laundering

Citigroup is advertising positions for Bitcoin professionals in order to beef up their in-house anti-money laundering operations. Citi wants Bitcoin Specialists to Help Deter Crypto Crime The New York financial services giant Citigroup has posted ads on LinkedIn searching to fill vice president and senior vice president positions that will explore the risks of criminal… […]

Credit Card Companies Spooked by Crypto Scams

As crypto becomes more popular the number of cyber criminals looking for some easy pickings will increase. Online scams are nothing new but the nature of cryptocurrencies means that those without the technical expertise will be additionally vulnerable. Banks and credit card issuers have acknowledged this which may be the reason behind their buying blockade. […]

UK Bank Lloyds Bans Bitcoin Buying on Credit Cards

Banks will never be fans of Bitcoin. The concept of it alone is the complete opposite of a bank’s business model which is to make profits from other people’s money. Britain’s biggest bank today took the step of banning its customers from buying Bitcoin using their credit cards. Lloyd’s Banking Group will tell its 9 […]