BTC $63,037.33 +0.05%
ETH $1,883.84 +0.15%
BNB $604.94 -0.89%
XRP $1.00 -0.18%
SOL $75.20 -0.26%
TRX $0.3313 +0.07%
DOGE $0.0699 +0.12%
ADA $0.1779 +0.10%
BCH $203.59 +0.04%
LINK $9.46 -0.97%
HYPE $57.61 +1.04%
AAVE $86.66 +0.12%
SUI $0.6760 -0.59%
XLM $0.1576 +0.02%
ZEC $490.17 +0.48%
BTC $63,037.33 +0.05%
ETH $1,883.84 +0.15%
BNB $604.94 -0.89%
XRP $1.00 -0.18%
SOL $75.20 -0.26%
TRX $0.3313 +0.07%
DOGE $0.0699 +0.12%
ADA $0.1779 +0.10%
BCH $203.59 +0.04%
LINK $9.46 -0.97%
HYPE $57.61 +1.04%
AAVE $86.66 +0.12%
SUI $0.6760 -0.59%
XLM $0.1576 +0.02%
ZEC $490.17 +0.48%

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Analysis: The era of BTC against banks is coming to an end, and trillion-dollar financial institutions are accelerating their embrace of crypto assets

According to CoinDesk, as Wall Street and global financial institutions accelerate their entry into the digital asset space, the boundaries between traditional finance (TradFi) and decentralized finance (DeFi) are gradually blurring. Bitwise CEO Hunter Horsley stated, "The era of 'going long on Bitcoin and shorting bankers' is over," as financial institutions are turning to the other side of the crypto industry, promoting the adoption of digital assets.Hunter Horsley mentioned that this summer, two financial institutions managing over $1 trillion in assets approved the launch of crypto products in a bear market environment, indicating that large institutions are expanding channels for clients to access digital assets. "This year, everyone is wearing the crypto industry's jersey. Now, everyone is working for the crypto industry," Horsley said. He pointed out that these financial institutions, which manage over a trillion dollars in client assets, previously would not have opened related services during the downturn of the crypto market in 2022, but now they are actively embracing this field.Sygnum Chief Investment Officer Fabian Dori also believes that the relationship between banks and the crypto industry has undergone a structural change. "The past trades of 'going long on Bitcoin and shorting bankers' are over; banks have shifted from resisting digital assets to building, supporting, and distributing digital assets through custody, tokenization, and compliant trading." This change is primarily driven by growing customer demand and gradually clarified regulatory rules, rather than short-term market cycle changes.Anchorage Digital CEO Nathan McCauley stated that over the past two years, its client structure increasingly reflects the trend of integration between traditional finance and crypto finance. Large financial institutions typically choose to collaborate with specialized crypto infrastructure companies rather than building their own technology systems.In recent years, more and more financial institutions have entered the crypto space, including Swissquote, DBS, BBVA, BNY Mellon, Credit Suisse-related institutions, as well as Morgan Stanley and Charles Schwab.

The leak of French tax data affects nearly 678,000 people, which may exacerbate the risk of violent attacks against cryptocurrency holders

The French Minister of Finance confirmed that hackers breached the French Public Finance Directorate system at the end of June and stole personal and corporate taxpayer data. According to the platform FrenchBreaches, which tracks cyberattacks in France, this incident affected approximately 678,437 people, equivalent to about 1% of the French population, but the exact number is still under investigation and has not been finally confirmed.The leaked data reportedly includes sensitive information such as names, birth dates, home addresses, phone numbers, email addresses, tax identification information, and income data. Among them, nearly 27,000 individuals had tax incomes of at least 100,000 euros, 386 exceeded 1 million euros, and another 8 exceeded 10 million euros. Reports indicate that the database has been sold on the dark web market for thousands of euros. The attackers, calling themselves ZeroBytes, claimed they extracted the relevant records using an internal search tool, which was only discovered later when access was cut off.This incident has raised concerns in the cryptocurrency industry, as there has been a noticeable increase in "wrench attack" violent robbery incidents targeting cryptocurrency holders in France in recent years. If high-income individuals' addresses and contact information are leaked, it could provide criminals with a more precise target list.
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