KPMG Expands Crypto Management Suite to Boost Institutional Adoption

KPMG’s cryptocurrency management suite has expanded with the company’s integration of Coin Metrics’ products. KPMG’s new tools are “designed to enable the increasing institutional adoption of cryptoassets.” KPMG Enhances Its Crypto Management Suite KPMG LLP announced Tuesday that it has formed a strategic alliance with the crypto market and network data provider Coin Metrics Inc. This enables the company to provide its clients with “Coin Metrics’ full-suite of institutional data products and infrastructure” alongside “KPMG Chain Fusion, a patent-pending suite of capabilities,” the announcement states, adding: Through this strategic alliance,…

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Microstrategy CEO Personally Owns $240 Million in Bitcoin — Company’s BTC Profit Eclipses Other Earnings

Following a $425 million bitcoin purchase by his billion-dollar company, Microstrategy CEO Michael Saylor reveals that he personally owns about $240 million in bitcoin. Meanwhile, his company’s bitcoin gains have outperformed the company’s other earnings. Microstrategy and Its CEO Are Both Bitcoin Hodlers The CEO of the billion-dollar company Microstrategy, Michael Saylor, has revealed his own bitcoin holdings. His company, Microstrategy, recently bought $425 million in bitcoin as its primary Treasury reserve asset. Saylor, who has been outspoken about bitcoin ever since his company decided to make the cryptocurrency its…

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Fidelity Investments’ Digital Asset Custody Services Arm Expands to Asia

Fidelity Digital Asset Services has revealed the company is expanding into Asia and plans to help high-net-worth investors and family offices in the region with custodial crypto products. Fidelity is working with the Singaporean startup Stack Funds, a fully-insured custody operation servicing traditional financial institutions. Fidelity Investments Inc., is an American multinational financial services corporation that operates a subsidiary called Fidelity Digital Asset Services (FDAS). As of June 2020, the Boston-based Fidelity is one of the largest asset managers worldwide with $3.3 trillion in assets under management (AUM). Back in…

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Dutch Police Seize $33 Million in Bitcoin from Couple Accused of Money Laundering

Prosecutors from the Netherlands have seized 2,532 bitcoins worth $33 million after a couple was convicted of money laundering by the Rotterdam District Court. The man and his wife were sentenced to two years for illegal money transmission and the court claims the couple’s bitcoin stash was used on the deep web. Dutch officials recently arrested and charged a man and his wife for illegal money transmission and money laundering. According to the Dutch Public Prosecution Service from the Rotterdam District Court, the two suspects laundered close to $19 million…

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Avanti Bank Launches

Avanti Bank & Trust has been granted a bank charter by the Wyoming State Banking Board today following a unanimous vote, per an announcement from the company. “Avanti’s mission is to provide a compliant bridge between the traditional and digital asset financial systems, with the strictest level of institutional custody standards,” said Caitlin Long, Avanti’s founder and chief executive officer who has led blockchain advocacy efforts in Wyoming, in the announcement. “We will provide products and services that do not exist in the market today. Currently the only type of…

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From Brazil To Turkey, Bitcoin Prices Hit All-Time Highs Around The World

This article also appeared in our Down The Rabbit Hole newsletter. If you want our news and analysis straight to your inbox, make sure you subscribe now! One bitcoin will always be worth 1 bitcoin, but its price relative to fiat currencies is an important indicator of how much people around the world value the opportunity to opt out of their legacy systems and begin transacting and storing value in a permissionless alternative. As the price of BTC rises relative to dollars, yen or rubles, it’s clear that the people living…

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