Anchorage Digital faces scrutiny from US Homeland Security — Report

Quick Summary:

HSBC, Citi and BNY Mellon — America's oldest bank — are also competing to safeguard crypto assets for institutional clients. According to Fireblocks’ Adam Levine, senior vice president of corporate development, the US market lacks qualified custodians for digital assets."[...] there are limited options for certain market participants to keep their digital assets in safe keeping via a qualified custodian,” Levine told Cointelegraph in a previous interview.

The US Department of Homeland Security's El Dorado Task Force has reportedly launched an investigation into Anchorage Digital Bank, a Wall Street-backed cryptocurrency firm. According to an April 14 Barron's report, members of the task force have contacted former employees of the company over the past weeks to examine its practices and policies.

Anchorage reported over $50 billion in assets under management in 2024. Among Anchorage's custody competitors are players such as Ripple, Kraken, Taurus and Fireblocks, but the storage of digital assets has also attracted traditional financial institutions to the crypto field.

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Article Details

Author / Journalist: Cointelegraph by Ana Paula Pereira

Category: Crypto

Markets: United StatesPortugalSingapore

Topics: Probe Company Bank Force Task Institutional Crypto Assets Digital Anchorage Financial

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-14 @ 20:31:03 (6 days ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 525 words

Reading Time: 3 minutes read

Sentences: 29 lines

Sentence Length: 19 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 27881906

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Main Topics: Crypto

Official Website: cointelegraph.com

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Publisher ID: #11

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