The cryptocurrency market, according to Michael Demissie, the head of digital assets at Bank of New York Mellon, is “here to stay,” as institutional investors have shown a strong interest in crypto. According to a BNY Mellon survey conducted in October 2022, 91% of custodian bank clients are interested in investing in blockchain-based tokenized products, 86% of institutional players are adopting a “buy and hold” strategy, and 88% of those surveyed have long-term plans to invest in the digital asset sector. Caroline Butler was named CEO of Digital Assets at BNY Mellon on February 2 to help drive the next wave of adoption for the bank’s clients. Butler was previously the CEO of custody services and will now lead the company. News Sorce

As a judge orders a fee examiner, Voyager subpoenas FTX and Alameda executives NEWS. The subpoenas request copies of documents and communications between FTX entities and the SEC or DOJ, as well as information about the loan portfolio between Alameda and Voyager, as well as FTX’s financial condition before and after it declared bankruptcy. Voyager claimed that its creditors suffered “significant harm” after Alameda made a bid for its assets that it was unable to honor, costing Voyager $100 million and making Alameda’s claim subordinate to those of its other creditors. Judge Michael Wiles appointed a fee examiner to investigate professional fees, but recommended that the examiner’s own fees be limited. News Sorce

The Bank for International Settlements (BIS) will intensify its research into Central Bank Digital Currencies (CBDCs) and launch a new project to track stablecoins. Project Pyxtrial will create a platform to monitor stablecoin balance sheets and investigate technological tools to assist supervisors and regulators in developing policy frameworks based on integrated data. CBDCs and payment system improvements accounted for 15 of the 26 active projects in the last few years. As part of the G20 countries’ program to improve cross-border payments, the Bank for International Settlements (BIS) has increased its focus on improving payment systems and experimenting with CBDCs. It also intends to test the distribution of a retail CBDC via an open API ecosystem in a commercial setting. News Sorce