Inside Stash’s crypto-winter gamble

The investment app expands access to digital assets, spotlighting a long-term view of the currencies, in the platform's first offering on a new core system.

By Suman Bhattacharyya • Oct. 5, 2022

Crypto bank Anchorage pushes into Asia

Anchorage Digital, valued over $3 billion, established six partnerships across Asia, including in Singapore and Thailand.

By Gabrielle Saulsbery • Oct. 5, 2022

Explore the Trendline➔

Artificial intelligence

Banks are enthusiastic about AI’s promises. But can they get customers on board, and will regulators let the innovation happen?

By Banking Dive staff

FSOC wants legislation to fill crypto sector oversight gaps

The panel wants regulators to work in tandem to issue rules that would help prevent regulatory arbitrage in the sector.

By Anna Hrushka • Oct. 4, 2022

Digital banks, credit unions should factor into merger reviews: Fed’s Bowman

Potential combinations should hinge on risk analysis, not deposit market share, in an update to 1995 guidelines, the central bank governor said Wednesday.

By Dan Ennis • Sept. 29, 2022

Celsius CEO, FTX US president resign

Mashinsky’s departure comes amid bankruptcy proceedings his company initiated in July. Harrison’s resignation comes one day after FTX US won the bid to buy Voyager Digital’s assets for $1.4 billion.

By Gabrielle Saulsbery • Sept. 28, 2022

FTX wins bid to buy Voyager’s assets for $1.42B

The deal comes two months after the crypto brokerage accused FTX’s billionaire owner of trying to subvert its bankruptcy process by offering early liquidity to Voyager customers.

By Gabrielle Saulsbery • Sept. 27, 2022

Kraken CEO Jesse Powell steps aside, as COO takes the reins

The crypto exchange’s top executive raised ire over a culture document that addressed preferred pronouns, diversity-focused hiring and abortion. He told Fortune he had “grown tired of long hours and day-to-day management tasks.”

By Gabrielle Saulsbery • Sept. 22, 2022

Biden administration releases digital asset regulation framework

The Biden administration wants the SEC and the CFTC to “aggressively pursue investigations and enforcement actions against unlawful practices in the digital assets space.”

By Anna Hrushka • Sept. 16, 2022

Majority raises $37M as neobank expands immigrant outreach

The neobank, which declined to share its current valuation or number of users, has raised $83.5 million to date.

By Anna Hrushka • Sept. 14, 2022

Gensler: Securities laws cover ‘vast majority’ of crypto tokens

The SEC chief signaled he would cooperate with the CFTC to the extent that “it needs greater authorities with which to oversee and regulate crypto non-security tokens.”

By Maura Webber Sadovi • Sept. 8, 2022

Hawaii’s Central Pacific Bank embraces BaaS to gather mainland deposits

“We could be business as usual, and continue focusing on traditional community banking in Hawaii,” the bank’s CFO said. “We chose to participate in the disruption."

By Anna Hrushka • Aug. 31, 2022

Trade groups clap back at Warren’s call to rescind crypto guidance

The crypto winter is "wholly unrelated" to banks’ involvement in OCC-approved activities, the Bank Policy Institute and the American Bankers Association wrote. But further clarity is crucial.

By Gabrielle Saulsbery • Aug. 31, 2022

FDIC orders FTX, 4 other crypto firms to halt ‘false and misleading’ claims

Brett Harrison, FTX’s president, responded on Twitter, saying the company “really didn’t mean to mislead anyone.” The FDIC cited a deleted tweet from Harrison in its letter to the company.

By Anna Hrushka • Aug. 22, 2022

Toomey grills FDIC on potential overreach in bank-crypto ties

The Pennsylvania Republican asked for more information about reports that employees from the agency’s headquarters asked regional staff to send letters to banks discouraging their relationships with crypto companies.

By Dan Ennis • Aug. 18, 2022

Fed puts onus on banks to check legality of crypto ventures

Like the FDIC, the central bank urges banks to notify the regulator before starting crypto activity. But unlike the OCC, the Fed doesn't detail what is permissible under law.

By Dan Ennis • Aug. 17, 2022

Green Dot is locked in Uber contract dispute, loses other clients

“I don't want to be out there opening up our [bank] charter for every Joe fintech that wants to do something in payments,” Green Dot CEO Dan Henry said last week on a call with analysts.

By Lynne Marek • Aug. 11, 2022

Warren asks OCC to scrap Trump-era crypto guidance — and recent work

The OCC, FDIC and Fed said in November they planned to provide more clarity this year on permissible digital asset activity. A letter from the senator last week challenges the agencies to follow through.

By Dan Ennis • Aug. 8, 2022

Senate bill would couch Bitcoin, Ether under CFTC purview

The bill would define a new asset class, exclude securities from it, and require brokers, custodians, dealers and trading facilities to register with the CFTC.

By Dan Ennis • Aug. 3, 2022

NY regulator fines Robinhood $30M over AML, cybersecurity failures

The company Tuesday also cut its workforce by 23%, or roughly 780 employees, and announced it would be closing two offices, according to a filing.

By Dan Ennis • Aug. 2, 2022

FDIC advisory reinforces boundaries of bank-crypto ties

The note emphasizing risks comes a day after the regulator issued a cease-and-desist order giving bankrupt platform Voyager Digital two business days to remove any misleading claims regarding deposit insurance.

By Dan Ennis • Aug. 1, 2022

Crypto ‘citizen’s arrests’ may continue until Congress wrangles ‘Wild West’

The SEC, DOJ and Treasury are all patrolling the digital asset space. The CFTC is calling for unity. And lawmakers’ vision for a cohesive strategy just took a summer vacation.

By Dan Ennis • July 28, 2022

Crypto firm Voyager accuses FTX of tanking bankruptcy process

By publicly offering Voyager customers access to cash for their stranded assets, FTX is “chilling” Voyager’s once-private trawl for buyers with a “low-ball bid dressed up as a white knight rescue,” the bankrupt crypto firm said.

By Dan Ennis • July 26, 2022

UK fintech Starling pulls Irish banking license application

"Sometimes changing course is the right option," CEO Anne Boden wrote Monday in a memo to employees. The company still plans to expand to Europe through software-as-a-service deals with other lenders, Boden said.

By Anna Hrushka • July 19, 2022

Gen Z banking app GoHenry expands to Europe through Pixpay acquisition

As a growing number of neobanks compete for young customers, GoHenry’s acquisition of Pixpay, which also targets the Gen Z crowd, is a move in the direction of potential additional industry consolidation.

By Anna Hrushka • July 12, 2022

Brainard urges more oversight of crypto

The Federal Reserve vice chair on Friday said the May collapse of the Terra stablecoin, which wiped out millions of dollars in a matter of days, was “reminiscent of classic runs throughout history.”

By Anna Hrushka • July 11, 2022