The Strategic Reserve of Seized Assets

The White House gently let down expectations that it would be purchasing bucketloads of bitcoin for the US strategic digital asset reserve, announcing instead on Friday that it would start filling the reserve with bitcoin forfeited from criminal and civil cases. David Sacks, the US crypto czar, said the government would not be selling any bitcoin. "It will be kept as a store of value. The Reserve is like a digital Fort Knox for the cryptocurrency often called 'digital gold', Sacks said." North Korean hacker group Lazarus is said to be already on the case. (We're joking.) Meanwhile, Spanish bank BBVA announced this morning that it will offer a new bitcoin and ether trading service for its customers.

Sterling Bank has produced a short documentary detailing its history and its recent moves to create a new core banking system developed in Nigeria. Well worth a watch.

The Evolution Of Banking | A Sterling Bank Documentary