NASDAQ is making a Big Crypto Move 👀
The global exchange group, has announced plans to launch its crypto custody service. 🚀
🧵( 1 / 12 )
The global exchange group, has announced plans to launch its crypto custody service. 🚀
🧵( 1 / 12 )
• Cryptocurrency is continuing its march towards mainstream adoption.
• Institutional interest in crypto is on the rise, and Nasdaq aims to meet this demand with the launch of its much-anticipated crypto custody service by the end of Q2.
🧵( 2 / 12 )
• Institutional interest in crypto is on the rise, and Nasdaq aims to meet this demand with the launch of its much-anticipated crypto custody service by the end of Q2.
🧵( 2 / 12 )
• The new service will offer institutional investors a safe way to get involved with digital assets and marks a significant foray by Nasdaq into the crypto space.
• The custody service will initially offer custody services for $BTC and $ETH
🧵( 3 / 12 )
• The custody service will initially offer custody services for $BTC and $ETH
🧵( 3 / 12 )
• According to Ira Auerbach, senior vice president and head of Nasdaq Digital Assets, the global exchange group has applied to the New York Department of Financial Services for a limited-purpose trust company charter to oversee the new business.
🧵( 4 / 12 )
🧵( 4 / 12 )
• The move by Nasdaq comes at a time when traditional finance interest in crypto is on the rise.
• A @BNYMellonWealth survey last October revealed that 91% of the bank's institutional investors are interested in investing in digital assets.
🧵( 5 / 12 )
• A @BNYMellonWealth survey last October revealed that 91% of the bank's institutional investors are interested in investing in digital assets.
🧵( 5 / 12 )
• @yassineARK , an analyst at @ARKInvest , has argued that the rally is a sign of Bitcoin’s value as a safe haven asset.
• He claimed that Bitcoin’s recent price behavior suggests that the increasing regulatory pressure had no impact on the leading crypto.
🧵( 7 / 12 )
• He claimed that Bitcoin’s recent price behavior suggests that the increasing regulatory pressure had no impact on the leading crypto.
🧵( 7 / 12 )
• The announcement also comes at a time when some major crypto exchanges in the world, including FTX, have collapsed.
• Nasdaq's new service will make it a direct competitor to Coinbase and Binance, who are currently facing regulatory challenges.
🧵( 8 / 12 )
• Nasdaq's new service will make it a direct competitor to Coinbase and Binance, who are currently facing regulatory challenges.
🧵( 8 / 12 )
• Furthermore, three US Senators, including Elizabeth Warren, Chris Van Hollen, and Roger Marshall, have recently asked Binance "to provide transparency about potentially illegal business practice."
🧵( 9 / 12 )
🧵( 9 / 12 )
• Meanwhile, the SEC has also recently sent a so-called “Wells notice” to Coinbase, threatening the crypto exchange with legal actions regarding some of its listed digital assets.
🧵( 10 / 12 )
🧵( 10 / 12 )
• Nasdaq's move into the crypto custody space is a significant development in the ongoing adoption of digital assets.
• The move is sure to increase institutional interest and will make it easier for traditional investors to gain exposure to cryptocurrencies.
🧵( 11 / 12 )
• The move is sure to increase institutional interest and will make it easier for traditional investors to gain exposure to cryptocurrencies.
🧵( 11 / 12 )
Do you love signals and alpha, then you don't want to miss following them -
@azeemgaur123
@Pure8Nature
@Thorshammergems
@BlocksNThoughts
@mortycryptox
@CryptoPunjab09
@CryptoPatel
@azeemgaur123
@Pure8Nature
@Thorshammergems
@BlocksNThoughts
@mortycryptox
@CryptoPunjab09
@CryptoPatel
@azeemgaur123 @Pure8Nature @Thorshammergems @BlocksNThoughts @mortycryptox @CryptoPunjab09 @CryptoPatel If you enjoyed this thread:
1. Follow me @ourcryptotalk for more crypto and trading content.
2. RT the tweet below to share this thread with your audience
🧵( 12 / 12 )
1. Follow me @ourcryptotalk for more crypto and trading content.
2. RT the tweet below to share this thread with your audience
🧵( 12 / 12 )
Do you want to join a great community for crypto signals and idea sharing? Do join us for free at app.ourcryptotalk.com
Loading suggestions...