As bitcin, ethereum and ther cryptcurrencies get increasing attentin frm investrs, Wa Street and its traditina banks cntinue t adjust t the shift. Catch up n this week’s tp stries highighting the intersectin f these d guard and new sch areas f finance with this recap cmpied by The Fy. 1. COINBASE OPENS CRYPTO CUSTODIAL SERVICE: In a Mnday bg pst, Cinbase said, “Last week, Cinbase Custdy accepted its first depsit. Tday, we’re prud t annunce that we’re fficiay pen fr business. Over the cming weeks, we’ cntinue n-barding a set f wrd-cass cients that incudes eading crypt hedge funds, exchanges and ICO teams…Cinbase Custdy is a cmbinatin f Cinbase’s batte-tested cd strage fr crypt assets, an institutina-grade brker-deaer and its reprting services, and a cmprehensive cient cverage prgram….Cinbase Custdy prvides secure strage f crypt assets fr institutins in bth the US and Eurpe. Befre the end f the year, we hpe t bring this ffering t Asia as we. ” 2. SQUARE WITHDRAWS BANK APPLICATION: Payments prcessr Square (SQ), which supprts bitcin and recenty was granted a cryptcurrency icense in New Yrk, has withdrawn its reguatry appicatin t the Federa Depsit Insurance Crpratin t pen a depsitary bank, but pans t refie the appicatin ater, American Banker reprted Thursday. “We have been engaged in cnstructive diague with the FDIC, and ur decisin t withdraw and refie was a prcedura step in the review prcess that wi aw us t amend and strengthen sme areas f ur FDIC insurance appicatin,” a Square representative said. 3. SWISS BOURSE TO LAUNCH CRYPTO PLATFORM: Switzerand’s stck exchange, wned and managed by SIX, annunced Friday that it is buiding a fuy integrated trading, settement and custdy infrastructure fr digita assets. SIX is fuy reguated as an peratr f Financia Market Infrastructure by Swiss Authrities, FINMA and the Swiss Natina Bank, and intends that the panned ‘digita asset ecsystem’ – SIX Digita Exchange – wi enjy the same standard f versight and reguatin. 4. OVER 800 CRYPTO PROJECTS DEAD: The number f cryptcurrency prjects has expded in the ast 18 mnths, but nw ver 800 f thse prjects are dead, drawing cmparisns between the current digita cin market and the dtcm bubbe in 2000, CNBC reprted Mnday. Cmpanies raised $3.8B via initia cin fferings in 2017 and $11.9B via ICOs in 2018 s far, but hundreds f the prjects are nw wrthess and trade at ess than 1c because they were scams, a jke r the prduct hasn’t materiaized. 5. LEE SEES BITCOIN AT $25K: Fundstrat Gba Advisrs c-funder Tm Lee said he sees bitcin at ver $20,000 per unit by year-end, 20% wer than his previus $25,000 target, but ater carified he sti stands by the $25,000 frecast, CNBC reprted Thursday. Lee, wh estimated mining csts arund $9,000 at year-end, said thse estimates “impy fair vaue ver $20,000, rughy $22,000,” but added, “We sti think bitcin can reach $25,000 by the end f the year r smething ike that.” CRYPTO STOCK PLAYS: Cryptcurrency revenues have been pinted t as reasns t be buish n Advanced Micr Devices (AMD) and Nvidia (NVDA) in seect research. Overstck (OSTK), DPW Hdings (DPW), Kdak (KODK), Seven Stars Cud (SSC), Rit Bckchain (RIOT), Pareteum (TEUM) and Scia Reaity (SRAX) are ther stcks that have been tuted, r prmted themseves, as a way t pay the crypt theme. PRICE ACTION: As f time f writing, bitcin rse abut 11.1% this week t $6,558 in U.S. dars, accrding t CinDesk. WANT BITCOIN NEWS ALERTS?: T receive aerts n stries reating t bitcin and ther cryptcurrencies, Fy subscribers can enter “Bitcin” int the “Add symbs” bx f their prtfis.