🏦 Citi to Launch Bitcoin Custody for Institutions This Year
Citigroup is set to offer Bitcoin custody services through its new Custody+ platform, targeting institutional clients with a launch expected later this year.
The platform will provide 24/7 access, secure key management, and faster settlement, while integrating crypto custody with existing reporting, tax, and safekeeping workflows. Features also include real-time asset servicing, instant settlements, liquidity tools, and AI-powered market intelligence. Bitcoin will be the first supported asset, with additional digital assets planned for future inclusion.
The move marks a significant step by one of Wall Street's largest banks into regulated crypto infrastructure for institutional clients.
⚖️ EU sanctions package enables country-wide crypto transaction bans
The EU's 21st sanctions package against Russia, passed on July 23, introduces a mechanism allowing regulators to ban crypto transactions with entire jurisdictions accused of repeatedly enabling sanctions evasion.
The package expands Russia crypto sanctions to 14 additional foreign service platforms and tightens restrictions on the Russian ruble stablecoin network and institutions supporting it. The new country-level ban would allow EU authorities to cut off EU-based crypto operators from providers in non-compliant jurisdictions.
This marks a significant escalation in the EU's crypto enforcement toolkit, moving beyond entity-level designations toward potential blanket restrictions on cross-border crypto activity tied to sanctions circumvention.
🪙 Six US Banks Build Tokenized Deposit Model via Fireblocks
Six chartered US banks are developing a tokenized deposit model in partnership with Fireblocks, signaling growing institutional interest in blockchain-based banking infrastructure.
Tokenized deposits represent bank liabilities recorded on a blockchain, allowing for programmable, near-instant settlement between financial institutions. The involvement of six chartered US banks marks a notable step toward mainstream adoption of tokenization within regulated banking.
Fireblocks, a digital asset infrastructure provider, is facilitating the initiative, which reflects a broader industry trend of traditional banks exploring on-chain settlement rails as an alternative to legacy payment systems.
⚖️ SEC Cancels Regulation Crypto Vote, Safe Harbor on Hold
The U.S. Securities and Exchange Commission has canceled a scheduled vote on Regulation Crypto, leaving token issuers and holders subject to existing securities rules.
No safe harbor framework has been established, meaning projects operating in the U.S. continue to face legal uncertainty over whether their tokens qualify as securities. No new vote date has been announced.
💵 Tron Captures 52% of Low-Value USDT Transfers Globally
Tron's stablecoin market cap hit a record $89.2 billion in Q2, cementing its position as the dominant chain for USDT activity worldwide.
The network leads all native-issuance chains in sub-$1,000 USDT transfers, capturing 52% of that segment — reflecting its strong adoption in emerging markets where low-cost, small-value transactions are common.
A Nasdaq-listed Bitcoin treasury company holding 7,500 BTC survived a $212 million crypto loss without liquidating any of its holdings, instead diluting shareholders 18-fold through equity sales to sustain its operating runway.
The company's regulatory filing distinguishes the $212 million figure as a noncash crypto loss — an unrealized accounting charge — from the equity issuances used to fund ongoing operations. The share dilution strategy allowed the firm to maintain its full Bitcoin position intact.
The approach mirrors tactics used by other crypto treasury companies that rely on capital markets rather than asset sales to weather drawdowns, keeping BTC holdings on the balance sheet while absorbing paper losses through accounting rather than forced selling.
📈 Texas holds Bitcoin ETF position despite 34% paper loss
Texas's Permanent School Fund is holding its Bitcoin-linked position after its roughly $10 million stake declined to approximately $6.6 million — a paper loss of around 34%.
The fund's exposure is tied to BlackRock's iShares Bitcoin Trust (IBIT). According to the filing, neither the specific owning portfolio nor a reliable current dollar value is identified.
Texas joins a growing list of U.S. state-level entities with institutional Bitcoin ETF exposure, maintaining its position despite the drawdown rather than exiting at a loss.