Crypto Currents: Sparkassen, Deutsche Bank to offer crypto

As Bitcoin navigates market crosscurrents and the broader crypto landscape undergoes rapid evolution, legal, institutional, and technological developments are constantly reshaping the financial world. Stay up on the crypto news that matters with “Crypto Currents,” daily from The Fly. Join us for your essential daily recap, every day at 2 PM ET on FlyCast radio.

INSTITUTIONAL ADOPTION ACCELERATES: Major institutional players are signaling strong confidence in the digital asset class. In a significant disclosure from its IPO filing, design software powerhouse Figma (FIG) revealed it holds $70M in Bitcoin ETFs. Meanwhile, a major shift is underway in Europe’s largest economy. Germany’s Sparkassen, the nation’s largest financial group, announced plans to offer cryptocurrency trading to its retail clients by the summer of 2026. Echoing this move, financial giant Deutsche Bank (DB) is also proceeding with its initiative to launch a crypto custody service in 2026, marking a substantial commitment from the heart of traditional finance.

BRIDGING TRADFI AND DECENTRALIZED FINANCE: The trend of merging traditional assets with blockchain technology is gaining serious momentum. In a pioneering move, U.S. company Everything Blockchain (EBZT) announced its intention to become the first publicly-traded OTC firm to fully tokenize its stock, aiming to enhance market access and efficiency. In a similar development, shares of the prominent chipmaker Nvidia (NVDA) are now tradable on the Solana (SOL) blockchain in the form of tokenized stocks. Together, these initiatives highlight a growing effort to fuse the liquidity of crypto with established financial instruments.

REGULATORY ACTIONS INTENSIFY: In the United States, calls for clearer and more stringent oversight are growing louder. New York Attorney General Letitia James is publicly urging the U.S. Congress to enact more robust federal regulations for the cryptocurrency industry to better protect investors. On the enforcement front, the U.S. Treasury Department took direct action today by sanctioning a cryptocurrency wallet that was identified in connection with a recent ransomware attack, stepping up its efforts to combat illicit financial activities in the digital space.

LEGAL BATTLES IN THE SPOTLIGHT: Finally, a high-stakes legal case is moving forward with significant market implications. A U.S. judge has ruled that the $4B lawsuit filed by bankrupt crypto lender Celsius against stablecoin issuer Tether can proceed. The case, which alleges Tether’s actions contributed to the lender’s collapse, will be closely watched for its potential impact on the broader stablecoin market.

PRICE ACTION: As of time of writing, bitcoin (BTC) was trading around $107,749.15, while ethereum (ETH) was trading near $2,455.13.