• Bitzlato, a Crypto exchange, exchanged around €1 billion in assets linked to criminal activities.
• SEBA Bank launched a three-tiered membership program for institutional clients.
• US Federal Home Loan Banks System (FHLB) lent billions of dollars to two of the largest crypto banks, Signature Bank and Silvergate Capital.
Today in Crypto, news is breaking that Bitzlato, a Crypto exchange, has exchanged around €1 billion in assets linked to criminal activities. This has been reported by EU’s law enforcement agency Europol, who have stated that targeting crucial crime facilitators such as Crypto exchanges is becoming a key priority in the battle against cybercrime. Whilst the conversion of Crypto assets into fiat currencies is not illegal, investigations into the cybercriminal operators indicated that large volumes of criminal assets were going through the platform.
In other news, SEBA Bank, a licensed digital assets bank, has launched an exclusive multi-tiered membership program for institutional clients. This program offers three program options: the Gold and the exclusive Platinum programs offer professional investors access to institutional-grade Crypto and traditional financial services, whilst the Corporate program is aimed at companies active in the field of Crypto who also need traditional banking services.
Finally, the US Federal Home Loan Banks System (FHLB), a consortium of 11 regional banks, is lending billions of dollars to two of the largest Crypto banks in order to help ease the effects of the rise in withdrawals. It reportedly lent nearly $10 billion to Signature Bank and $3.6 billion to Silvergate Capital. This is seen as a positive step, as banks are continuing to help facilitate the growth of the Crypto industry.
All in all, this news shows a positive outlook for the Crypto industry, with banks continuing to lend their support and institutions offering access to professional services. With Crypto becoming more and more popular, it looks like this sector is here to stay.