Citi’s digital asset co-heads resign with plans to create crypto startup
This move follows various other banking veterans making the change from Wall Street to crypto ventures. Alex Kriete, Co-Head of Digital Assets at Citi, announced his resignation from the banking giant after 11 years at the firm on March 10 via LinkedIn. He stated in his post that he intends to devote himself full-time to developing a new cryptocurrency company but provided no additional details at the time. Kriete co-led the Digital Assets Group with Greg Girasole for less than a year since the unit launched in June, 2021. Girasole also announced his departure via LinkedIn and, together....
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Cowen initially announced plans to move into the crypto custody business in May 2021, entering a partnership with Standard Custody and Trust Company. Cowen, a major American independent investment bank, has officially launched a dedicated cryptocurrency and digital asset division.Called Cowen Digital, Cowen’s new business is designed to offer full-service trade execution and custody for cryptocurrencies like Bitcoin (BTC) and other digital assets for institutional investors, the firm announced on Wednesday.In order to launch the new crypto division, Cowen has collaborated with PolySign’s....
A major financial infrastructure provider in Switzerland has partnered with blockchain startup Digital Asset Holdings to build a proof-of-concept focused on securities market infrastructure. SIX Securities Services and Digital Asset will create a “roadmap” for how the technology can be applied across the entire securities life-cycle. Distributed ledger technology is “key” to the future of SIX Securities’ post-trading business, according to Division CEO Thomas Zeeb: Zeeb said in a statement: "We need to understand it, and more importantly, its applicability and future flexibility in....
As the crypto market heads toward another Bitcoin halving expected to trigger a bull market, crypto founders are gearing up to start launching their startups in a more profitable climate. If you are one of these startup founders interested in crypto, Coinbase CEO Brian Armstrong has outlined 10 ideas that would lead to profitable businesses. […]
BNY Mellon, the oldest bank in the United States, continues to aggressively invest in the digital asset industry. According to a March 18 report by the Wall Street Journal, cryptocurrency startup Fireblocks has raised $133 million in a Series C funding round featuring BNY Mellon as well as hedge-fund firm Coatue Management, venture-capital firm Ribbit Capital, and Stripes.BNY Mellon’s strategic investment in Fireblocks is reportedly part of the bank’s plans to implement Fireblocks’s technology in its upcoming crypto custody platform. As previously reported, BNY Mellon officially announced....
Digital Asset Holdings, the startup led by ex-JPMorgan exec Blythe Masters, is apparently having issues closing an inaugural investment round. Blythe's previous employer JPMorgan Chase & Co has already committed about $7.5m to the undisclosed round, but Digital Asset has been struggling for some time to complete the deal with other investors, according to The New York Times. Allegedly, major banks including Goldman Sachs and Citigroup have been reluctant to commit to the deal as JP Morgan was "being given better terms than other investors", according to Times sources. More seriously,....