INSUBCONTINENT EXCLUSIVE:
banking sector and led to tighter lending standards
context: Before its collapse, SVB banked nearly half of all venture-backed technology and life sciences companies in the United States.This
whose massive crypto windfall in Q2 comes with a significant asterisk.Billionaire group wants to build SVB competitorBillionaires Peter
Thiel, Palmer Luckey and Joe Lonsdale have filed for a bank charter for Erebor, a new financial institution aimed at serving startups,
cryptocurrency companies and other so-called risky businesses, the Financial Times reported on Wednesday.The tech group hopes to fill the
offering in the United States.The SVB collapse was the first domino in a US banking crisis that triggered several failures in 2023,
including Silvergate Bank, Signature Bank and First Republic Bank
Donnelly, founder and CEO of Circuit, which has just launched an enterprise-grade recovery solution for digital assets.Powered by Automatic
The solution has gone live with two institutional clients: UAE-based custodian Tungsten and Palisade, a crypto infrastructure
treasury company Strategy is expected to report $13 billion in unrealized gains from its digital asset holdings, even as its core business
continues to struggle.Strategy has amassed 597,325 BTC, generating a Bitcoin yield of 7.8% in the second quarter, according to Chairman and
bet has become a case study for dozens of companies that have adopted similar approaches
According to Cointelegraph, 250 businesses now hold Bitcoin, with 26 announcing BTC treasury strategies just last month.Source: Michael
SaylorRobinhood launches layer-2 on ArbitrumRobinhood, the digital brokerage with over 25 million users, is expanding its push into digital
assets by launching a dedicated layer-2 blockchain on Arbitrum for trading tokenized stocks and exchange-traded funds (ETFs).The new
tokenization initiative will give investors in the European Union access to more than 200 US stock and ETF tokens.The announcement comes
broader advocacy for pro-tokenization legislation in the United States, as it works toward launching a real-world asset exchange.Crypto Biz
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