Friend.Tech Fees Soar, Deutsche Bank Dives into Crypto Custody

Name: FS Insight
Price range: $$$

Sep 15, 2023

Author

Tom Couture ^AC

BTC -3.60% ETH 1.48%

Market Update After a week of economic data releases supporting a potential reacceleration of inflation, US Treasury yields are rising across the board, while US equity markets are declining. The SPY and QQQ have dropped 1.26% and 1.82%, respectively, at the time of writing. Crypto markets are performing similarly, with $BTC (-0.94%) trading at $26.3k and $ETH (-0.65%) faring slightly better, holding around the low $1,600s. Although many had written off the new social platform friend.tech, the platform has seen a resurgence in activity. Over the last 24 hours, friend.tech has accumulated the third most platform fees among all protocols, surpassing well-established projects such as Lido and Uniswap. It will be interesting to monitor the platform’s usage, given its high level of volatility in recent weeks.Source: Token TerminalDeutsche Bank, one of the largest banks in the world, has partnered with Taurus, a Swiss token management platform, to develop digital asset custody and tokenization services for its clients. Deutsche Bank had previously applied for a crypto custody license in June, and the partnership is the latest move in their desire to expand into digital assets. Deutsche Bank’s preliminary plan is to offer custody services for select digital assets, but their global

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