Apollo Teams Up With Anchorage to Expand its Product Offering

Apollo Global Management, an American private equity firm with more than $30 billion in assets under management has inked a new partnership with Anchorage Digital for its crypto custody options.


The partnership between the duo has been an evolving one and as revealed by the latter firm, it will solely be in charge of safeguarding the crypto holdings of Apollo which is now deepening its feet into the Web3.0 world.

“Apollo is a leader in the alternatives industry, so their use of Anchorage’s custody platform is incredibly validating, and we expect this collaboration can set the bar for how institutions work with regulated digital asset banks like Anchorage to provide custody and other services for their crypto holdings. Being both nimble and secure with digital asset portfolios doesn’t have to be mutually exclusive–and we are confident this partnership will prove that,” said Diogo Mónica, Co-Founder and President, of Anchorage Digital.

The era where mainstream investment firms consider the crypto ecosystem as an alien offshoot of the financial industry is passed. Many institutional investors today are now exploring new and unique avenues by which they can join the bandwagon, and fulfill the demands of their existing customers while attracting new customers.

Apollo remains one of the major investment outfits pushing its boundaries with a steady entry into the Web3.0 space. While its custody relationship with Anchorage Digital dates back to 2021, the company dipped its feet into the industry some more when it joined the investors that bankrolled Anchorage when it raised $350 million in Series D funding last December.

While its crypto embrace is still shaping up, Apollo said its choice of Anchorage Digital as its primary strategic partner is based on the firm’s “strong emphasis on security and segregation of client assets,” as well as the “ease of use for asset managers to hold digital tokens.”

Image source: Shutterstock


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Surveillance Firm Launches Launches Push Towards Crypto Market Safety With 16 Other Industry Leaders

New York-based crypto surveillance firm Solidus Labs is teaming up with leading digital asset exchanges, trading firms and industry associations to launch a new crypto market safety initiative.

In a statement, the Crypto Market Integrity Coalition (CMIC) outlines how it will make the crypto market a safer space amid the emergence of new risks.

“The market integrity pledge introduced by the coalition is focused on a commitment to continuously strive towards higher standards of market integrity, risk monitoring, consumer protection and compliance, in order to maintain fair and orderly digital asset markets and prevent market abuse. “

The initiative also wants to engage with regulators to address the challenges in the industry.

“Over time, the coalition will take further steps, including advancing training programs, sharing insights and research, dialoguing with regulators, and considering data-sharing and shared-surveillance frameworks that can address crypto and decentralized finance’s unique cross-market supervision challenges.”

Solidus Labs initiated the formation of the group and co-founded the coalition with 16 other industry leaders, namely Coinbase, Circle Internet Financial, GSR, Huobi Tech, Anchorage Digital, CrossTower, BitMex, Bitstamp, Securrency, Elwood Technologies, CryptoCompare, MV Index Solutions, Global Digital Finance, the Chamber of Digital Commerce, CryptoUK, and Liberty City Ventures.

The CMIC says it is inviting other members of the crypto community to join the coalition.

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Featured Image: Shutterstock/Oceloti/Natalia Siiatovskaia


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U.S. Marshals Hire Custodian To Handle Massive Trove of Seized Crypto Holdings

The U.S. Marshals Service (USMS) is hiring crypto custody firm Anchorage Digital to handle a trove of seized cryptocurrencies including Bitcoin, Ethereum, Litecoin and Bitcoin Cash. The USMS is a law enforcement agency of the U.S. Department of Justice and a key part of the department’s Asset Forfeiture Program. The USMS’s Asset Forfeiture Division seeks […]

The post U.S. Marshals Hire Custodian To Handle Massive Trove of Seized Crypto Holdings appeared first on The Daily Hodl.


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Anchorage Digital will custody crypto seized by US Marshals

Crypto custody bank Anchorage Digital will be providing digital asset services for the United States Marshals Service for seized funds related to federal crimes.

In a Wednesday announcement from Anchorage, the digital asset platform said the U.S. Marshals Service, or USMS, “seized some amount of digital assets in recent years” which required a partner in the space to provide certain financial services. Anchorage will be responsible for custodying, liquidating, and other actions as part of the forfeiture process.

Anchorage co-founders Diogo Mónica and Nathan McCauley cited the platform’s “stringent processes and procedures” as likely factors in the USMS decision. 

According to a 2019 proposal, the U.S. Marshals’ office had been seeking a digital asset platform capable of accounting, customer management, audit compliance, managing blockchain forks, wallet creation, and the transformation of token assets into coin assets. The federal agency has seized thousands of Bitcoin (BTC), Ether (ETH), and other cryptocurrencies, regularly auctioning off the confiscated funds to the public.

Some estimates put the amount of Bitcoin the USMS has seized since 2014 at more than 185,000 BTC — roughly $7.5 billion at the time of publication — which includes funds from the now defunct marketplace Silk Road. However, other government officials may still be responsible for crypto seized from DarkSide hackers following a ransom paid for the attack on the Colonial Pipeline system earlier this year.

Related: A legal asset after all? Governments are cashing in on seized crypto

As the first crypto firm to receive a charter from the U.S. national bank regulator in January, Anchorage has steadily expanded into the crypto market. The company raised $80 million in February and later partnered with Prometheum to launch an alternative crypto trading system.