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On Monday, February 9th, the German DAX 30 index closed up 284.52 points, or 1.15%, at 25004.32; the UK FTSE 100 index closed up 15.84 points, or 0.15%, at 10385.59; the French CAC 40 index closed up 49.44 points, or 0.60%, at 8323.28; the Euro Stoxx 50 index closed up 60.96 points, or 1.02%, at 6059.36; the Spanish IBEX 35 index closed up 244.61 points, or 1.36%, at 18187.91; and the Italian FTSE MIB index closed up 923.30 points, or 2.01%, at 46800.50.February 10th - European Central Bank (ECB) Governing Council member Jean-Claude Nagel stated that the ECBs current policy interest rate is at an appropriate level, and inflation, after a brief dip, is expected to stabilize near the 2% target. The ECB unanimously decided last week to keep its main interest rate unchanged at 2%, but some policymakers remained concerned that inflation, which had slowed to 1.7% last month, might weaken further, forcing the Eurozone central bank to take action. Nagel stated that the ECB would only intervene if medium-term inflation expectations deviated "persistently and significantly" from the target, but this does not appear to be the case at present. He said, "Several factors suggest that the current interest rate level is appropriate. First, the (inflation) below target is short-term and limited in magnitude; in the medium term, inflation remains at our target level." He added that long-term inflation expectations are "firmly anchored," and core inflation indicators support this assessment, as does the latest update to the ECBs December forecasts.The US 3-month Treasury auction ended February 9th with a winning yield of 3.6%, compared to 3.60% previously.The bid-to-cover ratio for the US 3-month Treasury bond auction as of February 9 was 2.76, compared to 2.81 previously.The US auction of 6-month Treasury bonds ending February 9th yielded a winning bid of 3.5%, compared to 3.53% previously.

Banking Behemoth Barclays Buys a Stake in Crypto Firm Copper

Skylar Shaw

Jul 26, 2022 11:35

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One of the biggest banks in the UK, Barclays, has participated in a fundraising round for Copper and is anticipated to spend millions of dollars in the cryptocurrency company, which counts Lord Philip Hammond, a former chancellor of the exchequer, among its advisors.


The investment round for Copper, which offers custody, prime broking, and settlement services to institutional investors investing in cryptoassets, is expected to be completed in the coming days.

Delay of nine months

Despite the recent cryptocurrency meltdown wiping away roughly $40 billion in investor money and more than $2 trillion in market value, Copper has still been able to attract investment from one of the most reputable banks in the world.


Barclays, the world's largest bank, has finished the lengthy investor negotiations that had been put off since November of last year as Copper struggled with a temporary regulatory registration in the UK.


More precisely, the Financial Conduct Authority (FCA) mandates interim registration for digital asset service providers in compliance with money laundering laws. This implies that in order to operate, all crypto-asset enterprises must first seek full FCA registration.


However, Copper subsequently made the decision to become regulated in Switzerland as a result of the financial watchdog's refusal to accept its license registration.


Blockchain.com and Revolut are just two of the many companies that operate under the Temporary Registration Regime (TRR), and more than 100 businesses filed for registration when the FCA took over as the UK's anti-money laundering and counter-terrorism funding body in 2020.

Banking Megacorp

Bloomberg reports that although Barclays has made an undisclosed investment in the "millions of dollars," individuals with knowledge of the situation indicated last year that the funds might increase Copper's worth to around $3 billion. Additionally, the sources said they were uncertain whether the sum raised would be made public.


In 2015, Barclays became one of the first traditional banks to promote cryptocurrency when it started enabling charities to accept contributions made in Bitcoin (BTC) as a form of alternative payment.


However, the bank also has a murky history with cryptocurrencies, having prevented UK-based clients from sending money to Binance by forbidding them from paying the exchange using a credit or debit card. The restriction was implemented soon after the Financial Do Authority said that Binance Markets Limited was no longer permitted to conduct cryptocurrency business in the nation.


Similar to this, Barclays already severed connections with Coinbase and is no longer the bitcoin exchange's financial provider.


In a Series B fundraising round that included Illuminate Financial Management, LocalGlobe, and MMC Ventures and was co-led by Dawn Capital and Target Global last year, London-based Copper received $50 million.

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