ChainCatcher news, according to a report by Reuters, Nike Inc. (NKE.N) was sued on Friday by a group of buyers who purchased Nike-themed NFTs and other crypto assets. The buyers allege that they suffered significant losses after the company abruptly shut down the business unit responsible for creating these assets.In a proposed class action filed in the federal court in Brooklyn, a group of buyers led by Australian resident Jagdeep Cheema stated that Nike's RTFKT division was suddenly closed in December 2024, leading to a sharp decline in demand for the NFTs they held. The group claims that had they known in advance that these tokens were unregistered securities and that Nike would "suddenly withdraw," they would never have purchased these NFTs at the then-current price or any price. The lawsuit accuses Nike of violating consumer protection laws in New York, California, Florida, and Oregon, with unspecified damages exceeding $5 million.

ChainCatcher news, citing sources from The Wall Street Journal, reports that a consortium of banks, including Germany's Deutsche Bank and the UK's Standard Chartered, is considering expanding its cryptocurrency operations to the United States.

ChainCatcher news, according to The Block, investment bank TD Cowen pointed out that the Trump family's cryptocurrency business (including the planned launch of a stablecoin) could trigger a backlash and delay the U.S. regulatory process. Despite lawmakers accelerating the push for cryptocurrency regulations, political risks are on the rise.Jaret Seiberg, head of TD Cowen's Washington research team, wrote in a report on Monday: "We are concerned that political threats may escalate to a level that could undermine legislative and regulatory reforms in the cryptocurrency space. While we do not currently see political risks that could completely disrupt the cryptocurrency industry, the risks are rising rather than falling, which is a key factor we believe investors need to pay attention to." Currently, Washington lawmakers and regulators are making progress in cryptocurrency legislation and guideline development. The U.S. Securities and Exchange Commission (SEC) has withdrawn several cryptocurrency lawsuits, and lawmakers are proposing frameworks for regulating stablecoins and market structures.Seiberg mentioned that last week, SEC Acting Chair Mark Uyeda also hinted that the SEC might provide exemptions for cryptocurrency trading platforms and traditional exchanges wishing to trade tokenized securities. However, Seiberg stated that this momentum could be threatened by the controversies arising from the Trump family's involvement in the cryptocurrency space, including their planned launch of a stablecoin. "We are increasingly concerned that the Trump family's business activities and their government actions could provoke a strong backlash, derailing positive government actions." Seiberg also pointed out concerns over the Trump administration's shift in anti-money laundering policies, such as lifting sanctions on the cryptocurrency mixer Tornado Cash and the Justice Department's reduction in prosecutions of cryptocurrency money laundering cases.

ChainCatcher news, according to Bloomberg, several top Wall Street banks are optimistic about the potential development of the cryptocurrency industry during Trump's possible term and are actively adjusting their strategic layout for cryptocurrency business. Morgan Stanley is vying for potential IPO clients, Bank of America executives are discussing advancing transactions for digital asset companies, and Royal Bank of Canada plans to expand its business after completing its first cryptocurrency transaction.Currently, several cryptocurrency companies such as Gemini, Bullish, Circle, and Kraken are considering IPOs in 2025. Jefferies and JPMorgan are providing consulting for Bullish's potential listing, and Moelis & Co. and Cantor Fitzgerald are also active in this field. Analysts believe that Trump's supportive stance towards the cryptocurrency industry may trigger a new wave of IPOs, stock sales, and convertible bond issuances.

ChainCatcher news, according to Bloomberg, against the backdrop of most financial institutions refusing to provide services to crypto companies, ATB Financial, wholly owned by the Government of Alberta, has become one of the most reliable banking partners for the crypto and blockchain industry in the country.This initiative aligns with the Alberta government's strategy to generate billions in revenue from blockchain enterprises.

ChainCatcher news, according to Bloomberg, Swiss state-owned bank PostFinance is expanding its cryptocurrency business through Ethereum staking, allowing Ethereum holders to earn passive income.According to a statement on Thursday, PostFinance will add staking for other tokens "in the near future."

ChainCatcher news, the French financial market regulator Autorité des Marchés Financiers (AMF) has approved the French bank BPCE to conduct cryptocurrency business.According to the official notice released by the AMF on December 20, BPCE's cryptocurrency subsidiary Hexarq has obtained authorization as a Crypto Asset Service Provider (CASP). With this approval, Hexarq is officially authorized to provide a range of crypto services, including crypto custody, as well as the buying, selling, and trading of cryptocurrencies against euros.

ChainCatcher news, according to CoinDesk, based on communication records obtained by a research firm commissioned by Coinbase, it was revealed that in 2022, the Federal Deposit Insurance Corporation (FDIC) suspended or blocked cryptocurrency banking operations in many U.S. banks.The research institution hired by Coinbase, History Associates Inc., filed a lawsuit against the FDIC and the Securities and Exchange Commission (SEC) in June of this year, ultimately gaining access to some internal communication records of the FDIC. A large number of heavily redacted documents released on Friday show that this banking regulatory agency had halted digital asset-related products and services offered or planned by several banks.According to one of the 23 letters shared by the cryptocurrency exchange, the regulator wrote: "We urge you to suspend all activities related to crypto assets. The FDIC will notify all banks under its supervision when it makes a decision regarding the regulatory expectations for engaging in activities related to crypto assets."Coinbase Chief Legal Officer Paul Grewal believes that these letters are conclusive evidence that crypto companies have been systematically cut off from banking services by regulators. Paul Grewal stated, "The FDIC has developed a coordinated plan and executed it without hesitation, depriving a legitimate U.S. industry of banking services. This should give everyone pause."

ChainCatcher news, FOX Business reporter Eleanor Terrett posted on X that Anchorage Digital co-founder and CEO Nathan McCauley revealed that in January 2023, the company's partner bank stated it would no longer work with them because it was "engaged in cryptocurrency business."It is reported that Anchorage itself is a federally chartered bank and is subject to OCC review, but it was disqualified from participating in banking activities due to its involvement in cryptocurrency.

ChainCatcher news, according to Social Capital Markets, the ranking of the top countries and regions for cryptocurrency business in 2024 has been released. The top ten are: Dubai, Switzerland, South Korea, Singapore, the United States, Estonia, Italy, Russia, Germany, and Brazil.It is reported that Dubai scored highest in regulatory clarity, no capital gains tax, favorable corporate tax (9%), and affordable licensing fees, making it the number one cryptocurrency destination.

ChainCatcher News: U.S. Vice President Harris made her first comments on the cryptocurrency industry at a recent Wall Street fundraising event, incorporating artificial intelligence and cryptocurrency into her vision of an "opportunity economy."Harris stated, "To build an opportunity economy, I will bring together labor, small businesses, founders, innovators, and large companies. We will work together to invest in America's competitiveness and invest in America's future. We will encourage innovative technologies like artificial intelligence and digital assets while protecting consumers and investors. We will create a safe business environment with consistent and transparent road rules."Organizers described the Manhattan fundraising event as Harris's last opportunity to speak in person in New York before the November election, with one source calling the event "the hottest ticket in town." Tickets for the event started at $500 and later rose to $1 million. Celebrities in attendance included Anne Hathaway, Whoopi Goldberg, and Billy Porter.According to reports from Reuters last week, Harris plans to "unveil a new economic policy this week aimed at helping Americans build wealth and creating economic incentives for businesses to achieve this goal," but specific details are also scarce.

ChainCatcher news, according to Blockworks, the regulatory actions led by SEC Chairman Gary Gensler are becoming a fixed operating cost for crypto businesses, which may affect the pace of innovation in the industry and the development of new projects.ChainCatcher previously reported that the U.S. Securities and Exchange Commission (SEC) reached a settlement with the cryptocurrency lending platform Rari Capital. The SEC alleged that Rari's tokens constituted unregistered securities and questioned the authenticity of its automatic rebalancing mechanism. Over the past year, at least a dozen crypto-related companies, including Uniswap Labs, eToro, and Binance, have reached settlements with regulators, paying a total of over $4.3 billion in fines.

ChainCatcher news, according to FinanceFeeds, the UK online broker Trading 212's newly established subsidiary Trading 212 Crypto has obtained a Category 3 license issued by the Cyprus Securities and Exchange Commission (CySEC), allowing the platform to offer cryptocurrency spot, custody, staking, and card services.

ChainCatcher news, according to Jin10, Federal Reserve Governor Barr stated that regulators are reviewing the regulatory treatment of certain types of deposits, including those related to venture capital or cryptocurrency businesses.

ChainCatcher news, according to a video disclosed by Bitcoin News, former President Donald Trump was asked about the issue of cryptocurrency businesses leaving the United States, to which he responded, "I don't want that" and expressed a desire to keep them in the U.S.

ChainCatcher news, according to CoinDesk, European cryptocurrency exchange Bitpanda announced on Wednesday that it has expanded its partnership with the Austrian bank Raiffeisen's subsidiary based in Vienna to provide cryptocurrency services to customers of 55 bank branches in the country.Earlier this week, Bitpanda stated that it will open an office in Dubai, making the UAE its first expansion location outside of Europe.

ChainCatcher news, according to Tree News, Robinhood Markets Inc. stated that the U.S. Securities and Exchange Commission issued a Wells Notice regarding its cryptocurrency business in the U.S., to which Robinhood expressed disappointment.

ChainCatcher news, citing sources from Bloomberg, reports that senior Wormhole employees, including CEO Saeed Badreg and COO Anthony Ramirez, have left Jump Crypto in recent weeks to operate Wormhole independently. The sources requested anonymity as they are discussing private information.

ChainCatcher news, according to data from the OKLink Research Institute, over 40% of global banks participating in the exploration of the cryptocurrency market have already launched or plan to launch cryptocurrency asset custody services. Traditional banks have an advantage in gaining the trust of institutional investors in the cryptocurrency asset custody market due to their extensive experience in protecting and storing other assets. However, around 70% of banks will choose to collaborate with crypto-native custody companies or other third parties when developing cryptocurrency custody services.In addition, the OKLink Research Institute also pointed out that establishing a brand new internal business department to lead cryptocurrency business innovation is not applicable for most banks; collaborating with cryptocurrency companies and technology service providers to expand business and acquire users will become the norm.