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Institutional adoption of crypto technology is advancing, with Deutsche Börse set to offer crypto custody for 2,500 banks, allowing them to hold Bitcoin and Ether alongside traditional securities. Meanwhile, UBS and ZKB are enhancing fund transactions using blockchain, despite limited public support for the upcoming digital euro, as citizens prefer existing payment methods.
Sygnum Bank, founded in 2018 and licensed in 2019, has achieved a valuation of over $1 billion after raising $58 million in an oversubscribed financing round, making it Switzerland's 15th crypto unicorn. The funds will support expansion into the EU, EEA, and Hong Kong, as well as enhance its institutional infrastructure. The bank has seen significant growth, with trading volumes in 2024 surpassing previous years, driven by partnerships with over 20 banks.
The fusion of artificial intelligence and cryptocurrency is rapidly transforming the blockchain landscape, with AI-driven projects emerging as the hottest trend. Tokens like Virtual Protocol have seen explosive growth, while experts predict that this combination will drive a new digital economy, despite fundamental differences between the two technologies. Meanwhile, Bitcoin faces potential price declines, with analysts forecasting values below $30,000 amid market pressures and a lack of significant catalysts for growth in 2025.
Lugano's partnership with Tether aims to enhance blockchain and cryptocurrency understanding through training and events, positioning Tether as a leader in the city's crypto initiatives. Tether, co-founded by billionaire Giancarlo Devasini, has also influenced Bitcoin's legal status in El Salvador and is exploring gold-backed tokens. The company's significant profits could potentially address Switzerland's federal budget deficit, though its transparency remains a concern.
In 2024, Bitcoin's price rallied to over $100,000 but only gained 121%, underperforming compared to previous years. Memecoins dominated the market, with the AI coin Virtuals Protocol leading at +23,000%. Meanwhile, Saxony's hasty sale of 50,000 Bitcoin at $52,000 cost them nearly $2 billion as prices soared. The approval of 11 Bitcoin ETFs, including the successful BlackRock iShares Bitcoin Trust, fueled investor interest, while the fourth halving did not trigger the expected price surge. Ripple's legal victory revitalized its value, and MicroStrategy announced a $42 billion Bitcoin investment plan. As the EU's MiCA regulation took effect, the crypto landscape shifted, with political dynamics influencing market sentiment, particularly in the U.S. following Donald Trump's election campaign.
Meme coins, led by Doge Coin, have become a significant part of the cryptocurrency landscape, attracting millions of newcomers despite their often trivial origins. While some investors see potential in these tokens, critics highlight their lack of utility and the risks of scams. As the market evolves, established cryptocurrencies face challenges, and regulatory scrutiny increases, particularly in Switzerland.
Werner Grundlehner
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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