Crypto Finance will support the platform by offering settlement and custody services, ensuring a comprehensive infrastructure for institutional investors entering the crypto market.

Deutsche Boerse’s DBDX Launches: A New Era in Institutional Crypto Trading with Crypto Finance Support

• The Deutsche Boerse Digital Exchange (DBDX) has officially launched its crypto trading operations.
• This regulated platform for spot crypto trading is specifically designed for the needs of institutional clients.
• Settlement and custody services will be facilitated by Crypto Finance.

Deutsche Boerse Stock Exchange DBDX

Deutsche Boerse, Germany’s leading stock exchange operator, has announced the launch of a new cryptocurrency spot trading platform tailored for institutional clients, according to a recent statement released on Tuesday.

Christmas came early this year!

As of today, a total of 2,000 ETFs are tradable on @Xetra. What was once a niche product at the beginning of the millennium has become Europe's most successful financial product.

Next goal: 4,000 #ETF|s – here we come!https://t.co/KLrUHLV8Zn pic.twitter.com/xERBrb79O2

— Cash Market (@DBCashMarket) December 13, 2022

The platform, known as DBDX, provides a comprehensive and regulated environment for the trading, settlement, and custody of cryptocurrency assets, the company revealed.

DBDX will initially facilitate trading through a request-for-quote (RFQ) mechanism, which will eventually expand to include multilateral trading functionalities. Deutsche Boerse will manage the trading platform’s operations, while Crypto Finance will be responsible for offering settlement and custody services.

Carl Koelzer, the head of FX and digital assets at Deutsche Boerse, emphasized the platform’s commitment to delivering secure, transparent, and regulatory-compliant market operations for crypto assets, specifically catering to the needs of institutional clients across Europe.

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Pantera Capital Targets Discounted Solana Tokens in FTX Estate Deal

In a strategic move, Pantera Capital is on the lookout for new investment, aiming to acquire Solana (SOL) tokens at a reduced price from the troubled FTX estate, as reported by Bloomberg.

This initiative comes amidst a notable increase in SOL’s value, which saw a 2.2% rise within an hour and an 8% uplift over the last 24 hours.

Launch of the Pantera Solana Fund

To facilitate this acquisition, Pantera Capital is introducing the Pantera Solana Fund to potential investors.

The fund presents an enticing opportunity to purchase up to $250 million worth of SOL tokens at a 39% discount, based on a 30-day average price pegged at $59.95.

This discount proposal, highlighted in documents shared with investors last month, aims to enable the FTX estate to offload its SOL holdings.

Pantera’s goal was to finalize the fund by the end of February, and it successfully raised a portion of the targeted funds within this timeframe, according to Bloomberg.

The backdrop of this investment strategy includes FTX’s downfall, once a prominent crypto exchange led by Sam Bankman-Fried, a convicted fraudster and an early supporter of Solana.

He possessed millions in SOL tokens. Despite these challenges, SOL has emerged as one of the best-performing major tokens in 2023, boasting an almost 600% increase over the past year, significantly outperforming Bitcoin’s 200% gain.

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The communication highlights the efforts to assess and address the challenges of tracking such digital financial activities, underscoring the broader push for increased regulatory oversight in the cryptocurrency space, especially concerning groups like Hamas.

Oversight on Cryptocurrency

Financial entities have flagged transactions amounting to $165 million as potentially linked to Hamas, reveals the Financial Crimes Enforcement Network (FinCEN), a division of the U.S. Treasury dedicated to fighting terrorism financing.

Detailed Analysis of Suspicious Transactions

FinCEN’s scrutiny, based on suspicious activity reports from January 2020 to October 2023, highlights the complex web of digital transactions potentially associated with illicit activities.

This insight comes from a document penned by Deputy Treasury Secretary Adewale Adeyemo and shared with CoinDesk, aimed at the Senate Banking and House Financial Services Committees.

Adeyemo’s request was clear: secure legislative backing to expand the Treasury’s oversight on cryptocurrency dealings.

The extent of these transactions’ connection to Hamas and cryptocurrency is nuanced. Adeyemo pointed out the possibility that financial institutions might have over attributed the value of transactions linked to Hamas, mixing fiat and digital asset activities.

Cryptocurrency Addresses Under Investigation

With over 200 cryptocurrency addresses under investigation, the Treasury’s efforts to map out the threats posed by cryptocurrencies and related services are in full swing.

However, the analysis is ongoing, reflecting the challenges in conclusively determining these digital avenues’ roles in terrorism financing.

The Future of Crypto Regulation

The ongoing analysis by the Treasury, informed by Adeyemo’s letter, lays the groundwork for legislative proposals aiming to enhance oversight mechanisms.

These proposals are critical steps towards adapting to the digital age, ensuring financial security and thwarting terrorism financing through cryptocurrencies.

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The illicit funds were processed through Tornado Cash, a cryptocurrency mixing service known for its privacy-focused transactions.

Over the last 24 hours, the hacking group responsible for the attack conducted over 40 transactions to Tornado Cash, aiming to obscure the origins of the stolen funds.

North Korean cyber operatives, notably affiliated with the notorious Lazarus Group, have orchestrated a sophisticated laundering scheme, channeling $12 million in Ethereum (ETH) through the coin mixing service Tornado Cash within a mere 24-hour window.

In-depth analysis

An in-depth analysis by the blockchain intelligence firm Elliptic unveiled that Lazarus Group executed over 40 transactions to Tornado Cash between March 13 and March 14. This revelation ties into Elliptic’s further attribution of a massive $100 million heist targeting the Heco Bridge and HTX in November to the same group.

Recorded Future, a prominent cybersecurity analysis firm, has documented Lazarus Group’s involvement in digital thefts aggregating over $3 billion across the last six years, underscoring the group’s persistent threat in the cyber landscape.

In the wake of U.S. sanctions imposed on Tornado Cash in August 2022, Lazarus Group briefly pivoted to another mixing service named Sinbad to veil their financial maneuvers.

Nevertheless, the subsequent seizure of Sinbad by U.S. authorities in November coerced a strategic revert to Tornado Cash, as detailed in an Elliptic blog post.

Amidst these events, Roman Storm, a co-founder of Tornado Cash, was detained last year, currently pending trial on allegations of money laundering. His counterpart, Roman Semenov, faces similar charges, albeit remaining at large.

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