Rashawn Russell, a former investment banker and registered broker who worked for Deutsche Bank, has pleaded guilty to charges relating to investment fraud, after orchestrating a cryptocurrency scheme to swindle investors. The ex-Deutsche executive could face a maximum sentence of 30 years in prison for his crimes. Russell to Pay Restitution of Over $1.5 Million...Read More
Former Deutsche Bank investment banker Rashawn Russell intends to plead guilty to cryptocurrency fraud charges. Russell initially contested the allegations against him; however, the case has now been forwarded to a magistrate judge for a change of plea hearing, signifying a shift in Russell’s legal strategy. Rashawn Russel Set to Plead Guilty to Crypto Fraud...Read More
German financial giant Deutsche Bank announced signing a global partnership agreement with Swiss startup Taurus to establish digital asset custody and tokenization services for its clients. According to the official announcement, Deutsche Bank, boasting a total assets exceeding $1.4 trillion, plans to tap Taurus’ custody and tokenization technology to manage cryptocurrencies, tokenized assets, and digital...Read More
The largest bank in Germany in terms of total assets – Deutsche Bank – has reportedly sought regulatory permission to start operating as a crypto custodian. DZ Bank – another leading financial institution in the country – has already progressed in that field, partnering with Metaco and Harmonize to offer digital asset custody to institutional...Read More
Taurus SA – a Swiss entity that provides an infrastructure to issue, custody, and trade cryptocurrencies – raised $65 million to improve its platform and expand internationally. Major monetary institutions, including Credit Suisse, Deutsche Bank, and Arab Bank Switzerland, led the financing. Facing Towards Other Continents Taurus disclosed it will use the funds from the Series B...Read More
Analysts at Deutsche Bank – Marion Laboure and Galina Pozdnyakova – argued that the cryptocurrency market is “highly fragmented,” and its decline could continue in the near future. However, they believe bitcoin might tap $28,000 by the year’s end, assuming it keeps its close correlation to US stocks. BTC at $28K by Christmas The past...Read More
Deutsche Bank, a former cryptocurrency critic, believes Meta’s decision to integrate NFTs into one of its companies – Instagram – will legitimize those assets. Instagram Will Legitimize NFTs According to a report note released by Deutsche Bank on Sunday, cited by Coindesk, the deployment of NFT technology on Instagram has the potential to energize the...Read More
According to a new law coming into effect next week, some German investment funds will be able to hold up to 20% in digital assets. This comes amid growing demand from various institutions towards the industry. Germany’s Next Crypto Move As per a Bloomberg report from July 30th, Spezialfonds – German investment funds with fixed...Read More
Edward Chancellor – a British journalist and financial historian, explained that the first central bank digital currencies are likely to raise inflation which can lead to the destruction of Bitcoin. He agreed that CBDCs are ”cool” but certainly not stable. CBDCs Would Mean The End Of BTC Nowadays, many central banks of numerous leading economies...Read More
While urging investors to treat bitcoin and other cryptocurrencies with caution, Deutsche Bank’s CIO, Christian Nolting, said the industry is “here to stay.” However, the executive sees the impending launch of CBDCs as a major threat to bitcoin in terms of serving as a currency. Instead, he outlined the asset’s similarities to gold and its...Read More
Deutsche Bank is out with it’s latest cryptocurrency report. The global banking giant has discussed central bank digital currencies (CBDCs) in great detail, and their effect on central banks, individuals, and governments. In the discussion pertaining to individuals, DB says that CBDCs could encounter political resistance and encourage social unrest. Central Bank Cryptos Could Make...Read More
Bitcoin is yet too volatile to threaten the existence of cash, and the latter will survive, states a new report conducted by Deutsche bank. Moreover, the report claims that digital assets will help with rebalancing the global economic power. Deutsche Bank had seen better years than in 2019. The German bank had to layoff 18,000...Read More
Deutsche Bank analysts have made some predictions regarding the future of cryptocurrency. Strategist Jim Reid explained why cryptocurrencies are inevitable and how the existing fiat money system could crumble over the next decade, leading to soaring demand for cryptocurrencies. Also read: Swiss Licensed Crypto Bank Expanding Into 9 Markets ‘The End of Fiat Money?’ –...Read More
