Crypto Markets Plunge, Zodia Custody Raises $36M, Banks Stocking Up on Crypto

Crypto markets experienced a sudden decline, wiping out previous gains. The CoinDesk Market Index dropped by 5.6% in less than an hour, with losses of approximately $310 million. Standard Chartered's crypto platform, Zodia Custody, raised $36 million in a new series A funding round, with plans to expand geographically beyond Europe and Asia but not in the United States due to regulatory uncertainty.

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