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Anchorage Digital faces scrutiny from US Homeland Security — Report

The US Department of Homeland Security’s El Dorado Task Force has reportedly launched an investigation into Anchorage Digital Bank, a Wall Street-backed cryptocurrency firm. 

According to an April 14 Barron’s report, members of the task force have contacted former employees of the company over the past weeks to examine its practices and policies. Citing unidentified sources, the report claims the probe looks at potential financial crimes within Anchorage. 

The reported Homeland task force probe hints at cross-national financial activities. Established in 1992, the El Dorado Task Force focuses on “transnational money laundering” activities and financial crimes carried out by organizations. 

Anchorage is co-founded by Portuguese-American entrepreneur Diogo Mónica and Nathan McCauley, according to its website. Along with its US businesses, Anchorage has operations in Singapore and Portugal. Its investors include Andreessen Horowitz, Goldman Sachs and Visa, among others. 

Anchorage Digital is the only federally chartered crypto bank in the United States. It received its national trust bank charter from the Office of the Comptroller of the Currency (OCC) in January 2021. 

Despite its advanced regulatory position, Anchorage Digital has faced regulatory challenges in the US. In April 2022, the OCC issued a consent order against the bank for deficiencies in its Bank Secrecy Act and Anti-Money Laundering compliance programs. At the time, the company was ordered to establish a committee to address the alleged issues under the oversight of the OCC.

Cointelegraph reached out to Anchorage for comment but had not received a response at the time of publication. 

Anchorage’s crypto footprint

Anchorage was founded in 2017, and since then has been expanding its crypto footprint with services for institutional clients. The company is a custodian of BlackRock’s Bitcoin exchange-traded funds (ETFs) alongside Coinbase and BitGo. BlackRock’s BTC funds have attracted over $35.5 billion in cumulative inflows since its launch in January 2024. 

Another of Anchorage’s clients is Cantor Fitzgerald. The company has offered custody and collateral management for Cantor’s Bitcoin holdings since March 2025. Anchorage reported over $50 billion in assets under management in 2024. 

Among Anchorage’s custody competitors are players such as Ripple, Kraken, Taurus and Fireblocks, but the storage of digital assets has also attracted traditional financial institutions to the crypto field. HSBC, Citi and BNY Mellon — America’s oldest bank — are also competing to safeguard crypto assets for institutional clients. 

According to Fireblocks’ Adam Levine, senior vice president of corporate development, the US market lacks qualified custodians for digital assets. “[…] there are limited options for certain market participants to keep their digital assets in safe keeping via a qualified custodian,” Levine told Cointelegraph in a previous interview.

A 2025 survey by EY reveals that 59% of institutional investors plan to allocate over 5% of their assets under management to cryptocurrencies, indicating a growing demand for institutional-grade custody services.

Banks, United States, Homeland Security, Investigation

Institutional investors are expected to increase crypto allocations in 2025. Source: EY

Magazine: SEC’s U-turn on crypto leaves key questions unanswered

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CFTC seeks to allow spot crypto trading on registered exchanges

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CFTC seeks to allow spot crypto trading on registered exchanges

CFTC seeks to allow spot crypto trading on registered exchanges

The CFTC is seeking feedback on how to more effectively regulate spot crypto trading as it moves to implement recommendations from the Trump administration.

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No 10 decline to say if Palestine will be recognised with Hamas in power

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No 10 decline to say if Palestine will be recognised with Hamas in power

The prime minister’s spokesman has refused eight times to confirm whether recognition of Palestine could go ahead if Hamas remain in power and the hostages are not released. 

Keir Starmer’s spokesman was questioned by journalists for the first time since the announcement last week that the UK will formally recognise the state in September – unless Israel meets certain conditions including abiding by a ceasefire and increasing aid.

The policy has been criticised by the families of UK hostages, campaigners and some Labour MPs, who argue it would reward Hamas and say it should be conditional on the release of the remaining hostages.

A senior Hamas politician, Ghazi Hamad, speaking to Al Jazeera, said at the weekend that major nations’ decision to recognise a Palestinian state “is one of the fruits of 7 October”.

Gaza latest: Trump pressed to recognise Palestinian state

The PM’s spokesman said on Monday: “The PM is clear that on 7 October, Hamas committed the worst act of terror in Israel’s history. That horror has continued since then.

“As the foreign secretary said over the weekend, Hamas are rightly pariahs who can have no role in Gaza’s future, there is a diplomatic consensus on that. Hamas must immediately release all hostages and have no role in the governance of Gaza.”

But asked whether removing Hamas from power and releasing hostages were conditions for statehood, he said a decision on recognition would be made at the UN General Assembly meeting in September, based on “an assessment of how far the parties have met the steps we have set out. No one side will have veto on recognition through their actions or inactions.”

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Up to 300 children could be evacuated from Gaza and given NHS treatment in the UK. The plans are reportedly set to be announced within weeks.

He added: “Our focus is on the immediate situation on the ground, getting more aid in to end the suffering in Gaza and supporting a ceasefire and a long-term peace for Israelis and Palestinians based a two-state solution.”

Starmer, who recalled his cabinet for an emergency meeting last week before setting out the new position, is following the lead of French president Emmanuel Macron, who first pledged to move toward recognising Palestinian statehood in April.

Read more:
New US plan for Gaza starting to emerge
Hamas responds to disarmament reports

Canada has also backed recognition if conditions are met, including by the Palestinian Authority.

The prime minister had previously said he would recognise a state of Palestine as part of a contribution to a peace process.

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Efforts to bring Gazan children to the UK for urgent medical treatment are set to be accelerated under new government plans.

In his announcement last Tuesday, he said: “We need to see at least 500 trucks entering Gaza every day. But ultimately, the only way to bring this humanitarian crisis to an end is through a long-term settlement.

“So we are supporting the US, Egyptian and Qatari efforts to secure a vital ceasefire. That ceasefire must be sustainable and it must lead to a wider peace plan, which we are developing with our international partners.

“I’ve always said we will recognise a Palestinian state as a contribution to a proper peace process, at the moment of maximum impact for the two-state solution. With that solution now under threat, this is the moment to act.”

Adam Rose, a lawyer acting for British families of hostages in Gaza, has said: “Why would Hamas agree to a ceasefire if it knew that to do so would make British recognition of Palestine less likely?”

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Coinbase turns lobbying efforts to UK in scathing op-ed

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Coinbase turns lobbying efforts to UK in scathing op-ed

Coinbase turns lobbying efforts to UK in scathing op-ed

Former UK Chancellor and current Coinbase adviser George Osborne says the UK is falling behind in the cryptocurrency market, particularly when it comes to stablecoins.

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