• Bitcoin price has surpassed $28k, commanding 49% of the market share.
• US regulatory pressures are pushing cryptocurrency companies like Gemini and Deutsche Bank to expand into Asia-Pacific markets.
• Uniswap founder Hayden Adams called the US‘ approach to regulating crypto „sad and unfortunate.“
Bitcoin Price Surges Above $28K
Bitcoin has surged back above the $28k mark, controlling a whopping 49% of the total crypto market cap. This surge in price can be attributed to increasing institutional interest, as seen in BlackRock’s filing for a Bitcoin ETF.
US Regulatory Pressures Push Companies Eastward
The US regulatory climate is becoming increasingly hostile towards cryptocurrency companies, prompting firms like Gemini and Deutsche Bank to explore opportunities in the Asia-Pacific region. Meanwhile, Uniswap founder Hayden Adams has spoken out against the current US approach to crypto regulation, calling it „sad and unfortunate“.
Gemini Eyes Asia-Pacific Markets
In response to mounting pressure from US regulators, cryptocurrency exchange Gemini is looking into expanding its presence in Asia-Pacific markets. This move comes after fellow American exchange Coinbase announced plans for global expansion earlier this year.
Deutsche Bank Applies For Digital Asset Custody License
Deutsche Bank has applied for a digital asset custody license in Germany – another sign that traditional financial institutions are beginning to embrace cryptocurrencies more openly. If granted, this license would allow Deutsche Bank to securely store digital assets on behalf of clients while adhering to all local regulations.