Credit Suisse held CHF31 million ($32 million) in “digital assets” for its clients at the end of the second quarter of the year, regulatory filings show. The revelation shows traditional financial institutions are moving toward crypto custody.

The District of Columbia is suing MicroStrategy and its Executive Chairman Michael Saylor for allegedly never paying any income taxes in the district in the more than 10 years he has lived there, Attorney General Karl Racine announced.

Helium, a peer-to-peer blockchain designed for the Internet of Things which works to connect devices via emerging wireless technology, is mulling a move from its own cryptocurrency network onto Solana’s Proof-of-Stake blockchain.

Top stories in the Crypto Roundup today:

• Credit Suisse Held ‘Digital Assets’ for Clients Last Quarter
• District of Columbia Sues MicroStrategy and Michael Saylor
• Helium Developers Mull Move to Solana

Credit Suisse Held ‘Digital Assets’ for Clients Last Quarter

Credit Suisse held CHF31 million ($32 million) in “digital assets” for its clients at the end of the second quarter of the year, regulatory filings show. The revelation shows traditional financial institutions are moving toward crypto custody.

The Swiss financial giant reported holding around $32 million of what it described “of which digital asset safeguarding assets.” The megabank did not report those holdings over the previous two quarters.

The filing also did not provide a breakdown of that the “digital assets” were. They’re believed to be tokenized real-world assets rather than leading cryptocurrencies like Bitcoin or Ether. Credit Suisse disclosed it was holding tokenized securities for clients in accordance with accounting guidance from the U.S. Securities and Exchange Commission (SEC).

District of Columbia Sues MicroStrategy and Michael Saylor

The District of Columbia is suing MicroStrategy and its Executive Chairman Michael Saylor for allegedly never paying any income taxes in the district in the more than 10 years he has lived there, Attorney General Karl Racine announced.

Racine added that the District of Columbia is also suing MicroStrategy for “conspiring to help him evade taxes he legally owes on hundreds of millions of dollars he’s earned while living” in Washington.

In a follow-up tweet, Racine also added that this if the “first lawsuit brought under [the district’s] recently amended False Claims Act encouraging whistleblowers to report residents who evade our tax laws by misrepresenting their residence."

In a statement, Saylor that that although MicroStrategy headquarters are in Virginia, he had moved to Miami Beach and is looking forward to a “fair resolution in the courts.” The attorney general’s office alleges Saylor avoided paying more than $25 million in taxes to the district and is seeking back taxes, treble damages, civil penalties, expenses, and fees.

Helium Developers Mull Move to Solana

Helium, a peer-to-peer blockchain designed for the Internet of Things which works to connect devices via emerging wireless technology, is mulling a move from its own cryptocurrency network onto Solana’s Proof-of-Stake blockchain.

The Helium network offers crypto tokens to community members willing to run nodes to share internet with other users, and the protocol’s core developers recently launched a 5G network for tablet devices.

A new proposal, HIP 70, is looking to improve operational efficiency and scalability by moving Helium’s ability to verify hotspot locations and hotspot transferability capabilities onto the Solana network. In a blog post, the Helium Foundation wrote:

“Such a move would bring significant economies of scale through the vast range of composable Solana developer tools, features, and applications.”

If HIP 70 is approved, all current Helium would be ported to Solana. A vote is scheduled for September 12, and any HNT token holders can participate in governance votes by issuing a small token burn transaction from their wallet.

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