French Banking Giant BNP Paribas Looks At Crypto Custody – July 19

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$23,259

Bitcoin price has risen another $1,000 over the last 24 hours, as price continues to rip toward the upside with strength.

Top-20 altcoins also continue to benefit, as Ethereum gains another 4%, BNB rises 1% and Solana goes on an 11% tear.

Top Stories for July 19, 2022 🔥

👉 French Banking Giant BNP Paribas Looks At Crypto Custody

French banking giant BNP Paribas is reportedly moving into the cryptocurrency custody space, with assistance from Swiss firm Metaco. BNP Paribas is a major global custodian, managing almost $13 trillion in assets.

Metaco, a digital asset safekeeping company, has also helped several other banks and institutions to enter the crypto custody space – including BBVA, DBS, UnionBank Philippines and more recently Citigroup.

👉 Crypto Miners Continue To Exit Bitcoin Positions

Bitcoin miners have continued to exit their Bitcoin positions, with more than 14,000 BTC (worth $300 million) being transferred out of wallets belonging to miners in just a day.

According to data from CryptoQuant, miners have also offloaded the largest amount of Bitcoin since January 2021 – a phenomenon being labelled as “miner capitulation”. Analysts blame the fallen price of Bitcoin, coupled with rising electricity costs.

👉 Celsius Lawyers Claim User Funds Legally Belonged To The Company

Lawyers of Celsius, the recently-bankrupted crypto lending firm, have claimed that user funds legally belonged to Celsius and not the users themselves.

According to them, retail users transferred the title of their assets to the firm, as per their terms of service. They argue that due to this, Celsius was free to use, sell pledge and rehypothecate the assets as they wished.