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One of the largest and oldest banks in the United States has launched a cryptocurrency storage service. US Bank will work with Bitcoin, Bitcoin Cash and Litecoin

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US Bank – the fifth largest commercial bank in the United States by assets – announced that it has launched its own cryptocurrency custody service for large investors.

The new service will help investment managers store Bitcoin, Bitcoin Cash and Litecoin. Over time, support for other coins will appear, including Ethereum.

The bank will be helped in this by the cryptographic company NYDIG, which announced this spring that hundreds of banks in the United States will work with bitcoin this year.

Given the status of the US Bank, its size and age (the bank’s assets date back to Farmer’s and Millers Bank, founded in 1853), the source believes the move is the latest sign that established financial players are starting to accept cryptocurrencies as a legitimate asset class. In the realm of custodian banks, which vet and protect trillions of dollars of traditional assets for money managers, major players including Bank of New York Mellon, State Street and Northern Trust have announced plans to hold digital assets.

Our clients take the potential of cryptocurrency as a diversified asset class very seriously. I do not believe there is even one asset manager who is not thinking about it right now.

Gunjan Kedia, Deputy Chairman of Capital Management and Investment Services, US Bank

According to the bank, the service is intended only for institutional managers with private funds in the United States or the Cayman Islands. But if and when the US Securities and Exchange Commission approves the Bitcoin ETF, demand is expected to rise.

We have many funds looking to invest in ETFs. Some literally want to sign custodial contracts on the day the SEC approves the ETF.

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Phones

Four iQOO smartphones will receive Android 12 in December

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The iQOO brand has revealed Android 12 release dates for a number of its models. True, we are not yet talking about the final version of Android 12 – it will have to wait longer.

IQOO 7, iQOO 7 Legend, iQOO Z3 and iQOO Z5 users will receive the Android 12 beta at the end of the year – at the end of December. And at the end of March 2022, the beta version of Android 12 will be released for iQOO 3.

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Phones

Another foldable smartphone comes out in November – with 120Hz OLED screen, Snapdragon 888 and 50MP camera

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Details about the Oppo smartphone with a flexible screen appeared on the web. According to the source, the device will be released in November and will be built on a single-chip Qualcomm Snapdragon 888 platform.

The smartphone does not have a name, but the key characteristics are listed. So, the device is assigned an OLED screen with a diagonal of 8 inches with a frame rate of 120 Hz, a 32-megapixel front camera and a multi-module main camera with a main sensor with a resolution of 50 megapixels, a 4500 mAh battery with support for 65 W fast charging. The operating system is expected to be Android 11 with ColorOS 12 interface. There is no price, but it will probably be more affordable than the Samsung Galaxy Z Fold3.

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News

Not a trace remained of $ 66,000. Bitcoin fell, followed by Ethereum

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The week began for the main cryptocurrencies of the world with a rise in price and the establishment of new price highs, and ends with a fall, and quite noticeable. Over the course of a day, Bitcoin loses about 4.5% of its value, and as a result, for 1 BTC now they give not $ 66,000, but about $ 60,500.

After Bitcoin began to fall, Ethereum was still holding, but its rate had already gone down too, dropping below the psychological mark of $ 4,000. Analysts believe that such a fall in cryptocurrencies is due to their sell-off on the part of investors – they are fixing profits against the backdrop of a strong growth in value that has been observed since the end of September. This means that after the current correction, Bitcoin may rush to new heights, but whether altcoins will follow it is a big question.

Not a trace remained of $ 66,000.  Bitcoin fell, followed by Ethereum

Interestingly, against the background of a decrease in quotations of other cryptocurrencies from the Top 10, Solana feels very confident: it grew by almost 6% per day, and by almost 25% in a week.

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