Newscasts - Crypto Weekly: Twenty One Capital retreats, Bank of America expands

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11/12/2025 12:25

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Source: 'Reuters - Business videos'

Description: From Tether-baced Twenty One Capital sliding on its debut, to Bank of America expanding crypto access, Ciara Lee rounds up the latest news in the world of crypto.

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Video Transcript:

From Tether-backed Twenty One Capital sliding on its debut to Bank of America, expanding crypto access, this is Crypto Weekly. Shares of crypto treasury firm Twenty One Capital plunged on their first day of trading. It followed the completion of the company's merger with a blank-check firm. It also comes as crypto-related stocks face mounting pressure. Twenty One is majority-owned by stablecoin giant Tether and crypto exchange Bitfinex. Japanese investor SoftBank also holds a minority stake. Banks will be allowed to act as intermediaries on crypto transactions. That was according to a national US bank regulator. It's the latest step by the Trump Administration to close the gap between the traditional financial sector and crypto activities. The Office of the Comptroller of the Currency issued new guidance saying banks can engage in what are known as riskless principal transactions that involve crypto assets and wouldn't receive scrutiny from the regulator. Cryptocurrencies tumbled on Thursday and Bitcoin fell back below the $90,000 threshold in a renewed signal of market jitters. That's as fresh concerns about artificial intelligence profits weighed on technology stocks. Risk sentiment turned sour after the US cloud firm Oracle's profit and revenue outlook missed forecasts. Bank of America will begin allowing its wealth advisors to recommend allocations to crypto in client portfolios from next month. It's a landmark moment for the digital asset sector. Starting January 5, advisors of Bank of America Private Bank, Merrill and Merrill Edge will be able to suggest several crypto exchange-traded products without any asset threshold.