Invest ideasNews
7 Feb 2026, 14:00
Forget the bank account: EY warns firms they must own the wallet to keep their customers
EY Digital Assets leaders Mark Nichols and Rebecca Carvatt argue that the wallet is no longer just a crypto tool, but the primary strategic interface for the next generation of global finance.
7 Feb 2026, 11:13
'Bitcoin Has No Back Door': Mark Yusko on Gold Comparison
Morgan Creek founder Mark Yusko has shut down Bitcoin back door claims.
7 Feb 2026, 10:50
21Shares seeks approval for ONDO ETF
21Shares has revised details of its US exchange-traded fund filing tracking ONDO, the native token of the real-world asset tokenization platform. The crypto ETP company filed the amended S-1 document with the US Securities and Exchange Commission on Thursday. In a reaction post on social platform X, Bloomberg ETF analyst Eric Balchunas mentioned the development late Friday, joking that the product’s name sounded “like a planet in Star Wars.” 21Shares filing for an Ondo ETF. Never heard of this one, sounds like the name of a planet in Star Wars. pic.twitter.com/qtXql94nfO — Eric Balchunas (@EricBalchunas) February 6, 2026 The S-1/A submission is a follow-up on 21Shares’ first filing for a “21Shares Ondo Trust,” which the SEC posted on its website on July 22, 2025. The issuer has now rebranded the so-called trust as the “21Shares Ondo ETF” and specified Nasdaq as the intended listing destination, pending regulatory approval. 21Shares is the first asset management firm to seek to wrap ONDO exposure into a traditional brokerage product. 21Shares revises ONDO ETF proposal According to the original S-1 document, 21Shares had indicated in their note that the trust would be a passive fund. It would hold ONDO and use a third-party benchmark to track the dollar price of ONDO. The first submission outlined shares would be created and redeemed through large blocks called “Baskets,” handled by broker-dealers. But the revised proposal designates basket size to blocks of 10,000 shares per basket. The basket size affects how market makers arbitrage premiums and discounts in the secondary market. The amendment also says brokers can create shares by depositing cash with the fund’s cash custodian. The sponsor then automatically instructs a third party to buy the ONDO needed for that order and deliver the tokens into the fund’s custody accounts. When an authorized participant redeems for cash, the sponsor directs a custodian to transfer ONDO to a designated counterparty, which sells the tokens and deposits cash proceeds back into the fund’s cash account for settlement. The prospectus states that any slippage or trading costs associated with cash creations or redemptions are borne by the Authorized Participant, not the trust or the sponsor. While last July’s filing said the trust would custody ONDO at a single regulated third-party custodian, Coinbase, the amendment changes that to a dual-custodian model by adding BitGo Bank & Trust, N.A. BitGo is a federally chartered national trust bank and received a national bank charter from the Office of the Comptroller of the Currency in December last year. The S-1/A prospectus also introduces “Vault Balance” and distinguishes “Cold Vault Balance” from “Hot Vault Balance.” It says the sponsor expects assets and keys to be held in cold storage on an ongoing basis, with hot wallets used at times for settlement. There are three review paths after the amendment, owing to the SEC’s new formal process for approving exchange-traded funds. The best-case scenario will see ONDO ETF’s registration go live 20 to 75 days after the amendment, putting the earliest window between late February and mid-April 2026. Ondo Finance RWA footprint and WLF ties ONDO has appeared in political headlines through World Liberty Financial, the DeFi project affiliated with President Donald Trump’s family. Last year, WLF bought $500,000 worth of the token for a multi-asset treasury. In other related news, Consensys’ MetaMask has tapped Ondo Finance to offer tokenized securities. Per a press statement released by the wallet service provider on Tuesday, eligible MetaMask users in non-US countries now have access to 200 tokenized US stocks, ETFs, and commodities, including gold and silver, on Ethereum. Users acquire the tokenized exposure through MetaMask Swaps by swapping Circle’s USDC stablecoin into Ondo Global Markets tokens. However, the product is not available for users in the United States, Canada, the United Kingdom, and several jurisdictions in the European Economic Area. If you're reading this, you’re already ahead. Stay there with our newsletter .
7 Feb 2026, 10:30
Erebor Bank secures first new US bank charter under Trump
The government of President Donald Trump has officially authorized a technology company that supports the crypto industry to operate as a national bank. Even while there is still discussion in Washington about integrating digital assets into the federal system, the decision comes as the OCC suggests a move towards more “innovation-friendly” banking laws. Erebor Bank was authorized by federal banking officials on Friday to start operations nationwide. The Office of the Comptroller of the Currency approved the application less than eight months after it was first filed, demonstrating a relatively quick reaction by federal regulators, according to analysts. Some senators, notably Senator Elizabeth Warren, have expressed concerns about the risks of expediting charters for corporations with a cryptocurrency concentration. The OCC has refrained from commenting on the situation immediately. Venture capital backing Palmer Luckey, who helped create the Oculus virtual reality headset and also started the defense technology company Anduril, launched the banking venture. He borrowed the institution’s name from J.R.R. Tolkien’s fantasy novels, where Erebor refers to the “Lonely Mountain.” The naming approach mirrors Luckey’s other business ventures, Anduril and Palantir , which also draw from themes of protection and complex technology. The project is receiving funding from a number of well-known technology investment firms. Andreessen Horowitz, Founders Fund, Lux Capital, 8VC, and Elad Gil are all backing the bank. Joe Lonsdale, co-founder of Palantir, has confirmed his investment. Peter Thiel is reportedly behind the initiative as well. With an initial financing of about $635 million, the bank will have a lot of resources to work with right now. Last year, the company was worth about $2 billion during one funding round. That figure jumped to $4 billion after the bank secured another $350 million, with Lux Capital leading that round late last year. The new bank aims to fill a gap in the market that emerged after Silicon Valley Bank failed in 2023. That institution had been crucial for young technology companies and venture capital firms that traditional banks often viewed as too high-risk to work with. When Silicon Valley Bank went under, technology startups across the industry found themselves scrambling to access money and handle basic needs such as paying employees. “You can think of us like a farmers’ bank for tech,” Luckey explained. He noted that regular banks frequently lack the specialized knowledge to properly evaluate startups that own unusual types of assets. Erebor plans to concentrate on new industries involving complex hardware and advanced technical research. Palmer Luckey touts Erebor Bank’s “cutting-edge” approach Source: @PalmerLuckey . The bank wants to work with businesses building factories run by artificial intelligence, companies making robots, and firms focused on cutting-edge manufacturing. Organizations engaged in space exploration and businesses producing medications in gravity-free environments are other possible clients. Digital asset integration The bank plans to use blockchain systems for payments that settle transactions around the clock. This differs significantly from how American banks typically function, where money transfers follow regular business hours and stop on weekends and holidays. According to Luckey, Erebor plans to provide loans that use cryptocurrency or privately held securities as collateral. They will finance purchases of expensive artificial intelligence computer chips that modern technology companies need. According to its application documents, the bank will serve both technology businesses and the people who work at or invest money in those companies. In October, the OCC gave Erebor preliminary conditional permission to move forward. The Federal Deposit Insurance Corporation approved the bank’s deposit insurance application in November. The bank cleared several regulatory checkpoints before receiving final approval. Now that both authorities are involved, the organization may start functioning as a full-fledged national bank, bridging the gap between traditional financial services and the rapidly expanding technology industry. Claim your free seat in an exclusive crypto trading community - limited to 1,000 members.
7 Feb 2026, 10:11
Crypto Giant Tether Aided Turkey in Billion Dollar Crackdown
On Jan. 30, Turkish authorities announced the freezing of more than half a billion dollars in assets owned by Veysel Sahin, who is accused of running illegal betting platforms and laundering criminal proceeds. An unidentified crypto company carried out the freeze at Turkey’s request, Istanbul’s chief prosecutor said.
7 Feb 2026, 09:50
Telegram Bitcoin scam targets Indian national
An Indian national has become the latest victim of Bitcoin scammers on Telegram, falling prey to a scam that resulted in a loss of around Rs. 70 lakh ($77,300). The victim, a 50-year-old who works for a private firm, claimed he was lured into a fake Bitcoin investment by a woman he had accidentally met on the messaging platform Telegram. According to the complaint filed by the victim, the first contact between him and the woman was on November 30, 2025. The resident of Kodihalli in east Bengaluru said the woman identified herself as Priya Agarwal and claimed she was attempting to contact a person named Rahul, but instead contacted him. Instead of ignoring the message, the victim pressed on with the conversation. However, unknown to him, he was the actual target, and the woman in question was a scammer who would steal his funds. Indian national loses $77K to Bitcoin scammer on Telegram According to the Indian national, the conversations started briefly, and they exchanged pleasantries at intervals. However, things moved fast, and they started exchanging chats regularly. They later shifted to WhatsApp, with the woman communicating from a +44 number. She told the Indian man that she was based in Liverpool, United Kingdom, and ran a family business. Over time, she started to gain his trust and used the opportunity to introduce him to Bitcoin trading. Priya claimed she has been earning huge profits from her investments in the past four to five years. She also told him to invest and assured him that she would guide his investments and ensure he sees substantial rewards from his investment. The Indian victim sensed no issues with the investment scheme and chose to trust her. She sent him a link, he clicked on it, and it led him to download a trading application that will be used to carry out all his activities. The Indian national said he created an account and made his first investment on December 5, 2025. He sent Rs. 50,000 to his account on the application, sending the funds through a physical account provided by someone who claimed to be a customer care support member of the platform. Encouraged by the profits that came from his first investment, he continued to make more investments. Between December 9, 2025, and January 14, 2026, the man made about eight transactions. Police warn residents about the climbing crime rate According to the victim, the funds were sourced from his personal savings and loans from a bank and finance firm, which he took at Priya’s insistence. On the investment app, his balance soon swelled to Rs. 2.6 crore, which strengthened his belief that the Bitcoin investment scheme was genuine. However, the scam unraveled after he tried to withdraw some of his earnings from the application. He was met with several restrictions and was soon told that his account was frozen. The man said he contacted the customer support and was told to deposit more funds into his account under the pretext of taxes and processing fees, to be able to enable withdrawal. It was then that the Indian national realized that he had fallen prey to an elaborate crypto investment scam. After realizing the scam, the man approached the police and lodged his complaint with the national cybercrime portal. The case was registered under the Information Technology Act and BNS Section 318 (cheating). In its statement, the Indian police said it had released numerous statements in the past to dissuade people from investing in crypto investment schemes that have not been verified. It said that contacting people under the guise of mistakes is one of the ways that these criminals forge relationships with their victims. The Indian police claimed they usually use attractive women and lead their victims on in hopes that they would enter a romantic relationship before they strike. If you're reading this, you’re already ahead. Stay there with our newsletter .
