Bank of America, the second-largest bank in the U.S., has approved bitcoin futures trading, allowing some clients to invest in crypto products. These clients are setting up to trade bitcoin futures, which are cash-settled, and one or two may have already gone live, according to Coindesk.

Last Friday, Binance announced that stock tokens are unavailable for purchase on its website effective immediately, and support for such tokens will end on Oct. 14, with all positions closed the following day.

Ethereum co-founder, Anthony Di Iorio, will be severing his major ties to the cryptocurrency industry and selling his current venture Decentral to start a philanthropic foundation in the next year.

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Top stories in the Crypto Roundup today:

• Bank of America Approves Bitcoin Futures Trading for Some Clients
• Binance to End Support for Stock Tokens
• ETH Co-Founder Anthony Di Iorio to Sell Decentral and Cut Major Ties to Crypto
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Bank of America Approves Bitcoin Futures Trading for Some Clients

Bank of America, the second-largest bank in the U.S., has approved bitcoin futures trading, allowing some clients to invest in crypto products. These clients are setting up to trade bitcoin futures, which are cash-settled, and one or two may have already gone live, according to Coindesk.

A number of investment banks are reportedly allowing clients to invest in crypto products. In March, Goldman Sachs confirmed plans to relaunch its cryptocurrency trading desk after a three-year hiatus, and in May, the investment bank started buying and selling bitcoin futures in block trades through Chicago Mercantile Exchange (CME) Group, using Cumberland DRW as its trading partner.

Binance to End Support for Stock Tokens

Last Friday, Binance announced that stock tokens are unavailable for purchase on its website effective immediately, and support for such tokens will end on Oct. 14, with all positions closed the following day. The embattled crypto exchange said the decision had been made to allow it to focus on other products. 

Binance introduced its stock token service in April, allowing customers to buy fractions of shares in companies, starting with Tesla and followed quickly by Coinbase. MicroStrategy, Microsoft and Apple were added shortly after.

The backlash against Binance has come to a head in recent weeks, with regulatory bodies around the world issuing warnings that the crypto exchange is not licensed to be offering regulated services in their markets, including the U.K. and Japan.

ETH Co-Founder Anthony Di Iorio to Sell Decentral and Cut Major Ties to Crypto

 Anthony Di Iorio will be severing his major ties to the cryptocurrency industry and selling his current venture Decentral to start a philanthropic foundation in the next year, the Ethereum co-founder told CoinDesk in a phone interview:

“I’m a crypto guy and I don’t want to be known as a crypto person, I want to be known as a problem solver.”

While he will end his relationships with other blockchain firms in which he’s involved, he said that he was open to using blockchain technology along with other approaches in his forthcoming work:

“There’s a middle ground and crypto is a tool in my tool belt”

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Crypto and decentralized finance (DeFi) introduce a plethora of opportunities to transform financial services, making them more accessible, transparent and efficient. At the same time, they also introduce a new world of risks and uncertainties, which regulators, financial institutions and investors worldwide are just beginning to grapple with.

As blockchain-based finance continues to tap value locked within legacy infrastructures and decades-old business practices, the crypto and DeFi space will need to continually find ways to bridge finance and finance 2.0.

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