ChainCatcher news, according to Cointelegraph, investors in Bakkt Holdings have filed a class action lawsuit against the company and its executives, accusing them of making false or misleading statements and failing to adequately disclose important information related to major clients Webull and Bank of America (BoA), allegedly violating U.S. securities laws.The group of investors claims in the lawsuit that losing Bank of America and Webull would result in a "73% loss in revenue." The documents state that for most of 2023 and 2024, Webull accounted for 74% of Bakkt's crypto services revenue, while Bank of America accounted for 17% of its loyalty services revenue from January to September 2024.On March 17, 2025, Bakkt disclosed that Bank of America and Webull had no intention of renewing the agreement set to expire in 2025, causing the company's stock price to drop more than 27% within the following 24 hours. Investors accuse Bakkt of "misrepresenting the stability and/or diversity of its crypto services revenue" and failing to disclose that this revenue "largely depended on" contracts with Webull. The lawsuit states: "As a result of the defendants' wrongful conduct and inaction, along with the sharp decline in the company's market value, the plaintiffs and other class members suffered significant losses and damages."

ChainCatcher news, according to Bloomberg, cryptocurrency custody company BitGo Inc. has launched a global over-the-counter (OTC) trading business while planning to go public. This expansion comes as institutional investors, such as hedge funds, are increasing their demand for cryptocurrencies.As one of the largest digital asset custody companies in the United States, BitGo primarily helps investors store their digital assets. According to insiders, the company is considering an initial public offering (IPO) earlier this month.In a statement on Tuesday, BitGo announced that its OTC trading division will provide spot trading, options trading, and lending services for institutional investors to facilitate margin trading. Since the beginning of last year, the company has started offering services to select clients, with trading volumes reaching billions of dollars and lending exceeding $100 million. Additionally, the trading platform is not only available in the U.S. but also covers other jurisdictions, including Hong Kong and the Middle East.

ChainCatcher news, according to Asset Servicing Times, Emirates NBD has invested in Zodia Custody, a crypto custody company under Standard Chartered, through its innovation fund (the bank's corporate venture fund).By investing in Zodia Custody, the bank aims to bridge the gap between traditional financial services in the UAE and institutional digital assets.

ChainCatcher news, according to CoinDesk, the venture capital arm of the National Australia Bank (NAB), NAB Ventures, has recently invested in Zodia Custody, a company focused on cryptocurrency custody services, with the investment amount undisclosed.It is reported that Zodia Custody was co-founded by Standard Chartered and Northern Trust, aiming to provide secure digital asset custody services for institutional investors. Zodia Custody is set to commence operations in Australia by the end of 2023 and is preparing to become the preferred custodian for applicants of digital asset ETF approvals awaiting the Australian Securities Exchange.

ChainCatcher news, crypto VC Haun Ventures announced on its social platform that it has invested in the new round of financing for cryptocurrency custody company Fireblocks and on-chain data tracking and analysis platform Chainalysis.According to reports, The Information disclosed in April that Haun Ventures had acquired a portion of Chainalysis shares through the secondary market.

ChainCatcher news, according to CoinDesk, cryptocurrency custody provider Finoa has integrated Centrifuge's Anemoy tokenized treasury fund into its custody wallet system.It is reported that Finoa is a cryptocurrency custody company licensed by the German regulator BaFin. Anemoy was established and regulated in the British Virgin Islands, focusing on large DeFi investors, DAO treasuries, and stablecoin protocols.

ChainCatcher news, Zodia Custody, a cryptocurrency custody company under Standard Chartered Bank, is entering Hong Kong and plans to launch services in phases. In the initial phase, Zodia Custody aims to provide limited cryptocurrency asset services to Hong Kong clients. Additionally, the company is actively negotiating with the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority to ensure regulatory compliance.

ChainCatcher news, according to Bloomberg, cryptocurrency custody company BitGo Inc. announced a $100 million financing at a valuation of $1.75 billion.It is reported that BitGo ensures the security of crypto assets by protecting private keys, sometimes in physical vaults. The company is currently the custodian for creditors of the bankrupt digital asset exchange FTX, while also handling its legal proceedings. Other clients of BitGo include financial services company Swan Bitcoin and blockchain developer Mysten Labs Inc.Additionally, according to crypto data platform RootData, BitGo has previously completed a total of $66.5 million in financing, with investors including institutions such as Goldman Sachs and Galaxy Digital.

According to ChainCatcher, as reported by CoinDesk, the crypto custody company Ledger has announced the launch of its institutional-grade crypto trading network, Ledger Enterprise Tradelink, aimed at meeting its risk management and regulatory requirements.It is reported that the Ledger Enterprise Tradelink network has signed partnerships with several cryptocurrency exchanges and brokerage partners, including Crypto.com, Bitstamp, Huobi, Uphold, CEX.IO, Wintermute, Coinsquare, NDAX, Damex, Bitazza, Flowdesk, and YouHodler.Ledger Enterprise Tradelink is open to multiple custody partners, such as Komainu (a group supported by Nomura Securities, of which Ledger is a member), TetraTrust, Etana, Crypto Garage, Damex, and Kryptodian.In addition, Ledger Enterprise also provides all participants with real-time tracking of collateral balances and operational status, with zero transaction fees. (Source link)

ChainCatcher news, the crypto custody company Prime Trust's subsidiary Banq has filed for bankruptcy protection in the bankruptcy court for the District of Nevada, USA. In the bankruptcy filing, the company cited approximately $17.72 million in assets and $5.4 million in liabilities. At the time of the bankruptcy filing, TrueUSD halted redemptions, and Haru Invest ceased operations citing issues with unnamed partners.The company also noted in the documents that its former executives transferred $17.5 million in assets to Fortress NFT Group in an "unauthorized transfer," which included trade secrets as well as proprietary information and technology. Banq has sued Fortress for allegedly stealing trade secret information to launch competing NFT platforms Fortress NFT and Planet NFT, further accusing them of engaging in fraudulent activities to cover up their misconduct.Previous report indicated that earlier this year, Prime Trust laid off a third of its staff. (CoinDesk)

ChainCatcher news, according to CoinDesk, Ripple has spent $250 million to acquire the Swiss-based cryptocurrency custody company Metaco. This acquisition will allow Ripple to expand its products by integrating its technology into the custody, issuance, and settlement of tokenized assets.The acquisition was made through a combination of cash and Ripple equity, and Metaco will continue to operate as an independent business unit, led by founder and CEO Adrien Treccani. (source link)

According to ChainCatcher, a source revealed that former a16z Chief Technology Officer (CTO) Riyaz Faizullabhoy and former Chief Information Security Officer (CISO) Nassim Eddequiouaq are founding a crypto custody company focused on institutions, and they have received support from a16z. The two left a16z earlier this year in February. (CoinDesk)

ChainCatcher news, the crypto asset custody company Ceffu plans to attempt again to obtain a license to provide cryptocurrency services in Singapore, shifting from retail clients to corporate clients.It is reported that Binance launched a restructured business aimed at Singapore corporate clients at the end of November last year, renaming Binance Custody to Ceffu. Currently, Ceffu operates as an independent custody company separate from Binance. (Source link)

ChainCatcher news, cryptocurrency custody company BitGo has revealed in a court filing that it has recovered approximately $740 million in FTX assets. These assets were previously stored in a cold wallet and had not been connected to the internet.Previously, FTX requested the court to allow BitGo to hold its remaining digital assets during the bankruptcy proceedings. The custody service agreement between FTX and BitGo was signed on November 13, the day after FTX-related accounts experienced "unauthorized transfers," resulting in the withdrawal of assets worth $372 million. (Source link)

ChainCatcher news, according to The Block, institutional cryptocurrency custody company Anchorage Digital has launched a full-stack infrastructure service that includes a range of APIs. Anchorage partners can use these APIs to access cryptocurrency payment gateways, crypto financial products, and market participation tools, and can also request Anchorage's team of architects, integration engineers, and deployment strategists to design and test their own custom crypto solutions. (Source link)