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Crypto Evening Briefing: Nasdaq Eyes Crypto Custody Launch by End of Second Quarter

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Nasdaq Eyes Crypto Custody Launch by End of Second Quarter

Nasdaq Inc. expects its custody services for digital assets to launch by the end of the second quarter as it joins a growing pool of traditional financial firms that could fill the role of crypto middlemen following a spate of bankruptcies in the industry.

Crypto Firm Tether Says It Has Around $1.6 Billion in Excess Reserves To Back Its USDT Stablecoin

Cryptocurrency firm Tether estimates it will make $700 million profit in the March quarter, taking its total excess reserves to over $1 billion, the company’s technology chief told CNBC, revealing the latest figures for the first time.

Crypto Is Banned in China, but Binance Employees and Support Volunteers Tell People How To Bypass the Ban

Binance founder Changpeng “CZ” Zhao has touted the exchange’s know-your-customer systems, known as KYC, as a billion-dollar effort. Among other functions, they are supposed to stop customers that aren’t supposed to be on the platform, including residents of China. But customers in China and around the world regularly subvert Binance’s controls to hide their country of residence or origin, messages in Binance’s official Chinese-language chatrooms show.

Binance Bug Dumps BTC 1.39% – CZ Assures ‘Funds Are #SAFU’

Binance said it has temporarily suspended spot trading on its platform due to an unnamed issue. The crypto exchange tweeted that it knew of an issue impacting spot trading and was working to resolve it soon. Binance CEO Changpeng ‘CZ’ Zhao described the issue as a “weird one.” He added that deposits and withdrawals have been paused as a standard operating procedure and assured users that thief funds were safe. He expects the recovery to take between 30 minutes to two hours.

Arbitrum Airdrop Sees 1,500 Addresses Consolidate $3.3M Into Two Wallets

As the hype surrounding the Arbitrum (ARB) airdrop continues, on-chain activity shows that airdrop hunters consolidated tokens worth around $3.3 million collectively from 1,496 wallets into two wallets.

Market Watch

As of press time, according to Cointime data:

BTC 's live price is $27,802.93 USD, jumped by 1.47% in the last 24 hours;

ETH’s live price is $1,766.34 USD, jumped by 0.93% in the last 24 hours;

BNB’s live price is $323.19 USD, dropped by 0.21% in the last 24 hours;

XRP's live price is $0.4279 USD, dropped by 4.35% in the last 24 hours.

Fundraising News

NFT Investor Animoca Brands Cuts Target for Metaverse Fund to $800M: Reuters

Non-fungible token (NFT) and gaming investor Animoca Brands has reduced the target for its metaverse fund by 20% to $800 million, Reuters reported on Friday, citing two people familiar with the matter.

Narwhal Finance Secures $1M in Seed Funding Led by Animoca Ventures

Narwhal Finance, the decentralized cross-market perpetual trading platform built on BNB Chain and Arbitrum, announced a $1 million seed round funding led by Animoca Ventures, with participation from Hailstone Ventures and various angel investors.

Middleware Platform Particle Network Raises $7 Million

Particle Network has raised $7 million to build a middleware platform to support web3 developers. The seed funding round has backing from Animoca, Longhash Ventures, GSR Ventures, Hashkey and OP Crypto, the company told The Block. It previously raised $1.8 million in a pre-seed funding round in April last year with participation from LongHash Ventures and Insignia Ventures.

Bitcoin Bitcoin $81,721.54
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