Nasdaq Crypto Custody Incoming

The NASDAQ is set to launch its institutional crypto custody services in a few months, according to a report by Bloomberg. 😱

This move comes as the cryptocurrency industry continues to grow in popularity, despite regulatory FUD and government disdain.

Institutional investors are increasingly looking to invest in cryptocurrencies, and Nasdaq’s custody services will provide them with a secure way to do so.

Nasdaq is not the only traditional financial institution that is entering the cryptocurrency space. Goldman Sachs ($GS) and Morgan Stanley ($MS) have announced plans to offer crypto custody services.

The entry of these major financial institutions into the cryptocurrency industry is a sign of the growing maturity of the market. It is also a sign of the increasing demand for institutional-grade crypto custody services.

And it’s just another example of why the only thing bearish in the crypto space is price action – adoption by traditional money continues to grow every year. 

The exchange will reportedly offer custody services for $BTC, $ETH, and other major cryptocurrencies. 💪

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Binance’s Big Business Blending Boondoggle

Binance, the world’s largest crypto exchange, is facing another big allegation – an allegation that Sam Bankman-Freid and FTX are also accused of: commingling customer and corporate funds in accounts at Silvergate Bank during 2020 and 2021. 😱

Reuters reports that Binance’s corporate funds were funneled into an account where users were purchasing $BUSD, Binance’s stablecoin. The commingling allegedly occurred in an account belonging to Merit Peak, a Cayman Islands-based entity controlled by Binance’s CEO, Changpeng Zhao (CZ).

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Crypto 101: Layer-2

What on Earth is Layer-2? 🌍

If blockchain is a superhero, then Layer-2 is like its sidekick(s). It performs much of the ‘heavy’ lifting off-chain (off the main blockchain), making things run smoother, faster, and cheaper.

Superman can’t stop Doomsday and bad guys in the world at the same time – the Justice League takes on all the ‘other’ stuff going on. 

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Ordinals: A Gateway For Ethereum Developers Into The Bitcoin Community

At the Bitcoin 2023 conference in Miami last week, $ETH developers showed a keen interest in Ordinals, a protocol that has gained popularity within the $BTC community. 🥳

One notable startup, OrdinalSafe, a self-custodial Bitcoin wallet, participated in the conference’s “Pitch Day” and secured second place in the infrastructure category. OrdinalSafe’s CEO, Esad Yusuf Atik, described the experience as memorable and noted the warm reception from the Bitcoin community.

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Technically Speaking – May 19, 2023

It’s the 10th week in a row $BTC has been stuck inside the Ichimoku Cloud.🥺

All of the suck involved with the type of price action and broken hearts one would expect to experience when something is in the Cloud, we’re all experiencing it. 

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