Crypto
Crypto Banks Under Fire? Regulatory Crackdowns And Opportunities
A man rides a bicycle past a store advertising Bitcoin ATMs in Nicosia on September 25, 2024. (Photo … [+]
Two years after FTX’s implosion, financial regulators are still closely scrutinizing the cryptocurrency industry. In the United States, several targeted enforcement actions have been levied against crypto banks and companies, signaling an increased focus on compliance and risk management in the sector.
Following the collapse of Signature Bank and Silvergate, Pennsylvania-based Customers Bank has emerged as a key player in the crypto banking space, onboarding clients like Kraken and absorbing approximately $2 billion in deposits from crypto clients. A major draw for Customers Bank was its real-time payments system licensed from TassatPay, the same technology that had powered Signature Bank’s Signet. However, Customers Bank found itself under federal scrutiny, receiving an enforcement action from the Federal Reserve on August 5, 2024. The action cited “significant deficiencies” in the bank’s risk management practices and its compliance with anti-money laundering (AML) regulations, particularly in relation to its digital asset services.
Similarly, Dallas-based United Texas Bank faced regulatory action for its crypto-related activities. On August 28, 2024, the bank was cited for “deficiencies” in its AML compliance and risk management practices, particularly related to virtual currency customers and foreign correspondent banking. United Texas Bank, which services a number of crypto clients, is also a correspondent bank for Bank Frick, a Liechtenstein-based institution specializing in cryptocurrency services. These enforcement actions reflect the growing concerns regulators have about crypto banks’ ability to manage the unique AML risks posed by digital assets.
At the same time, a multi-billion-dollar fine was issued to TD Bank for failing to meet AML standards. TD Bank did not automatically monitor a substantial portion of its transactions, leaving 92% of its total transaction volume unchecked between January 1, 2018, and April 12, 2024. This failure allowed “trillions of dollars in transactions annually to go unmonitored for potentially suspicious activity.” While TD Bank’s deficiencies were not exclusively tied to crypto transactions, the enforcement action did mention a “Customer Group C,” which reportedly laundered funds from a UK-based cryptocurrency exchange to a Colombian financial entity.
Across the Atlantic, regulatory scrutiny of the crypto sector is intensifying as well. In the UK, crypto payments firm BCB was subject to an S166 investigation this year by the Financial Conduct Authority (FCA), an indication that regulators are paying closer attention to how crypto firms manage risk. BCB is known to provide banking services to some of the largest institutions in the digital asset sector, including Bitstamp, Crypto.com, Gemini, and Kraken. In the EU, there are growing concerns over the compliance of stablecoins, with reports suggesting that Coinbase may soon delist USDT
Tether
Critics of these enforcement actions argue that regulators are applying a double standard when it comes to crypto companies. Nic Carter, a well-known voice in the cryptocurrency space, has been particularly vocal about what he calls “Operation Chokepoint 2.0,” claiming that crypto companies in the US are being unfairly targeted by politically motivated regulatory measures. Others have pointed to the disparity in the treatment of Binance and TD Bank. While Binance’s CEO, Changpeng Zhao (CZ), remains in prison amid allegations of AML failures, none of TD Bank’s top executives have faced similar consequences, despite the bank’s significant failings in monitoring its transaction volumes.
However, it’s not all doom and gloom for crypto firms. In Europe, there are signs of regulatory clarity and progress for companies that are adapting to the changing landscape. Switzerland-based Sygnum Bank, a digital assets specialist, recently registered with Liechtenstein’s regulators as it prepares for an expansion into the EU. Likewise, Portugal’s Bison Bank has launched Bison Digital, a subsidiary designed to offer regulated services to the growing digital assets industry in Europe. These developments signal that the regulators are not unanimous in their crackdown on the industry.
The past two years have seen a sharp increase in regulatory oversight of the cryptocurrency industry, with a particular focus on banks and institutions that service digital assets. Enforcement actions against banks like Customers Bank and United Texas Bank in the U.S. reveal how seriously regulators are taking the crypto sector. Meanwhile, the scrutiny of firms like BCB in the UK and the potential delisting of USDT in the EU further underline the global nature of this regulatory shift.
Despite the heightened scrutiny, the outlook for crypto banking is not entirely bleak. While companies in the US are facing enforcement actions, those that embrace compliance abroad are finding opportunities to expand. As banks like Sygnum and Bison Digital demonstrate, there is still room for growth in this rapidly evolving industry. The road ahead will undoubtedly be challenging for crypto banks, but the potential for innovation and expansion remains strong for those able to adapt to the new regulatory reality.
Enlivex (Nasdaq: ENLV) announced that its primary treasury asset, the RAIN token, is expected to list on the Gate cryptocurrency exchange on June 24, 2026 at 10:00 AM UTC. Gate is described as serving over 54 million users and ranking second globally in 24-hour spot trading volume.
Enlivex focuses its digital treasury strategy on acquiring RAIN. As of June 21, 2026, it reportedly held 79,568,550,005 RAIN valued at approximately $1.14 billion, implying a treasury NAV per share of $4.67. The listing is expected to broaden access and secondary liquidity for RAIN.
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AI-generated analysis. Not financial advice.
Positive
- RAIN listing on Gate effective June 24, 2026 at 10:00 AM UTC
- Gate serves over 54 million users and ranks second in 24-hour spot volume
- Enlivex holds 79,568,550,005 RAIN tokens valued at about $1.14 billion
- Treasury NAV per Enlivex share reported at $4.67 based on RAIN holdings
- Listing expected to expand RAIN token accessibility and secondary liquidity
Gate user base
over 54 million users
Gate exchange global customer reach
Supported cryptocurrencies
over 4,600 cryptocurrencies
Assets listed for trading on Gate
Gate listing time
June 24, 2026 at 10:00 AM UTC
Effective time for RAIN listing on Gate
RAIN token holdings
79,568,550,005 RAIN tokens
Enlivex treasury position as of June 21, 2026
RAIN holdings value
$1.14 billion
Total value of RAIN held as of June 21, 2026
Treasury NAV per Share
$4.67
NAV per share based on RAIN treasury holdings
Gate spot volume rank
second-largest 24-hour spot trading volume globally
Gate exchange market position
Exchange ranking
top three by trading volume and liquidity
Gate position among digital asset exchanges
ENLV traded down while key biotech peers like ICU and TENX showed gains, and momentum scanner peers ALLR and ICU were moving up, indicating a stock-specific move rather than a sector-wide shift.
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Apr 30 |
RAIN listing HTX |
Positive |
+2.3% |
RAIN listed on HTX, expanding global access and secondary liquidity. |
| Feb 10 |
RAIN listing Kraken |
Positive |
+0.0% |
RAIN listed on Kraken, targeting improved liquidity and price discovery. |
| Jan 26 |
RAIN listing WhiteBIT |
Positive |
+8.3% |
RAIN listed on WhiteBIT to broaden regional access and liquidity. |
| Jan 07 |
RAIN listing KuCoin |
Positive |
+0.4% |
RAIN began trading on KuCoin, a major global crypto venue. |
| Nov 20 |
Bitcoin treasury move |
Positive |
-5.2% |
Board approved up to $1M Bitcoin purchases as a treasury reserve asset. |
Crypto-treasury and RAIN listing updates have usually led to modestly positive or flat moves, with only one notably negative reaction.
+1.1%
Average Historical Move
crypto
In prior crypto-treasury and RAIN listing updates, ENLV moved an average of about 1.15%, suggesting today’s Gate listing fits an ongoing, generally modest reaction pattern to such news.
Crypto-tag history shows a steady build-out of RAIN’s exchange footprint and treasury role, with sequential listings on major venues and continued emphasis on digital assets alongside the core Allocetra™ programs.
1.18% of float
0%
15%
30%+
low
as of 2026-05-29
Days to cover: 1
Short interest appears relatively low, suggesting limited short-squeeze potential but also somewhat reduced downside cushioning from aggressive short covering.
An effective Form F-3 shelf allows a selling shareholder to resell up to 23,333,333 registered ordinary shares from a convertible note, with proceeds going to the selling holder rather than Enlivex.
This announcement expands RAIN’s access via Gate, a high-volume exchange, potentially supporting treasury value built on 79,568,550,005 tokens. Investors may watch how trading depth, regulatory headlines, and the company’s dual biotech–crypto strategy evolve from here.
mark-to-market
financial
“The updated unaudited mark-to-market treasury metrics are publicly available”
“Mark-to-market” is a method of valuing assets or investments based on their current market price, rather than their original cost or value. It helps investors see the most up-to-date worth of their holdings, much like checking the latest price of a stock before deciding to buy or sell. This approach ensures that financial statements reflect real-time value, providing a clearer picture of overall financial health.
governance and utility token
technical
“RAIN serves as the governance and utility token of a fully decentralized”
A governance and utility token is a digital token that both powers use of a platform’s services (utility) and gives holders a voice in decisions about the platform (governance). Think of it as a combined membership card and voting ballot: it can be spent or staked to access features, and it can be used to influence product changes, fees, or rules. Investors care because the token’s value depends on how widely the platform is used and how much control holders can exercise, so demand, governance outcomes and regulatory risk can all affect price.
decentralized predictions and options protocol
technical
“token of a fully decentralized predictions and options protocol built on the”
A decentralized predictions and options protocol is a software system on a distributed ledger that lets people place bets on future events and create option-like contracts without a central company controlling it. Think of it as a peer-to-peer market where users can buy, sell or insure outcomes—similar to a prediction market combined with options trading—which matters to investors because it can enable new ways to hedge risk, discover market sentiment, and access tradable claims without traditional intermediaries.
on-chain
technical
“real-world events through a transparent and automated on-chain framework.”
On-chain describes actions or data that are recorded directly on a blockchain, a public digital ledger that creates a permanent, time-stamped record of transactions. For investors, on-chain activity provides verifiable evidence of transfers, ownership changes or automated program actions (like contract-driven payments); seeing these entries is like checking a bank statement and helps assess liquidity, settlement finality, fees, and transparency when judging risk and market behavior.
AI-generated analysis. Not financial advice.
- Ranked second globally in 24-hour spot trading volume, Gate further extends market access and secondary liquidity for Enlivex’s primary digital treasury asset
Nes-Ziona, Israel, June 24, 2026 (GLOBE NEWSWIRE) — Enlivex Ltd. (Nasdaq: ENLV, “Enlivex” or the “Company”), a quality longevity company powered by a prediction markets treasury, today announced that its primary treasury asset, the RAIN token, is expected to be listed on the Gate cryptocurrency exchange, effective June 24, 2026 at 10:00 AM UTC. The listing represents a continued expansion of RAIN’s exchange infrastructure, increasing its accessibility, global reach, and token liquidity.
According to Gate, it is one of the world’s pioneering cryptocurrency exchanges, established in 2013. Gate is currently serving over 54 million users globally, consistently ranked among the top three digital asset exchanges worldwide by trading volume and liquidity, and holds the second-largest 24-hour spot trading volume globally. Gate supports spot trading, futures trading, margin trading, and wealth management products for over 4,600 cryptocurrencies.
“Gate is one of the most established and widely accessed cryptocurrency exchanges in the world,” stated Oren Hershkovitz, CEO of Enlivex. “Exchange listings on platforms of this caliber expand the secondary market infrastructure around our primary treasury asset. We view each such listing as a positive step in building the long-term accessibility and market depth of our RAIN holdings.”
Enlivex’s digital asset treasury strategy is focused on the acquisition of RAIN tokens. The Company previously announced that, as of June 21, 2026, it held 79,568,550,005 RAIN tokens with a total value of approximately
RAIN serves as the governance and utility token of a fully decentralized predictions and options protocol built on the Arbitrum network. The protocol enables users globally to create, trade, and resolve markets tied to real-world events through a transparent and automated on-chain framework.
About Enlivex
Enlivex is a quality longevity company powered by a prediction markets treasury. The Company is advancing Allocetra™, an advanced clinical-stage immunotherapy targeting inflammatory conditions associated with aging, with a primary focus on age-related osteoarthritis. In addition to its clinical programs, Enlivex operates a prediction markets treasury strategy built around the Rain protocol, the leading decentralized prediction markets infrastructure on Arbitrum.
This dual strategy combines the development of quality longevity therapeutics with exposure to the emerging prediction markets ecosystem.
Forward-looking statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may be identified by words such as “expects,” “plans,” “projects,” “will,” “may,” “anticipates,” “believes,” “should,” “would,” “could,” “intends,” “estimates,” “suggests,” “target,” “has the potential to,” “goal,” and other words of similar meaning, including statements relating to the anticipated benefits of the Company’s digital asset treasury strategy; the assets to be held by the Company; the expected future market, price, trading activity, and liquidity of the RAIN token; the impact of expanded exchange listings and increased token liquidity on market participation and accessibility; the potential effects of digital asset liquidity on the liquidity of the Company’s ordinary shares; macroeconomic, political, and regulatory conditions surrounding digital assets; the Company’s plans for value creation and strategic positioning; market size and growth opportunities; regulatory conditions; competitive position; technological and market trends; future financial condition and performance; expected clinical trial results; market opportunities for the results of current clinical studies and preclinical experiments; and the effectiveness of, and market opportunities for, ALLOCETRA™ programs.
Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the risk of failure to realize the anticipated benefits of the Company’s digital asset treasury strategy; changes in business, market, financial, political, and regulatory conditions; risks relating to the Company’s operations and business, including the highly volatile nature of the price, trading volume, and liquidity of RAIN and other cryptocurrencies; risks associated with digital asset exchange listings, trading venues, and market infrastructure; the risk that the price and liquidity of the Company’s ordinary shares may be correlated with the price or liquidity of the digital assets it holds; risks related to increased competition in the industries in which the Company operates; risks relating to significant legal, commercial, regulatory, and technical uncertainty regarding digital assets generally; risks relating to the treatment of crypto assets for U.S. and foreign tax purposes; and those risks and uncertainties identified in the Company’s filings with the Securities and Exchange Commission. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements, except as required by applicable law.
Enlivex contact
Shachar Shlosberger
CFO
Enlivex Ltd.
shachar@enlivex.com
1 Valuation calculated using the closing price of the token as quoted on https://coinmarketcap.com/currencies/rain/
FAQ
What did Enlivex (NASDAQ: ENLV) announce about the RAIN token listing on Gate?
Enlivex announced that its primary treasury asset, the RAIN token, is expected to list on Gate on June 24, 2026 at 10:00 AM UTC. According to Enlivex, this listing aims to expand exchange infrastructure, accessibility, global reach, and secondary liquidity for RAIN.
Why is the Gate exchange listing important for Enlivex and its RAIN treasury strategy?
The Gate listing is described as enhancing secondary market infrastructure and liquidity for RAIN, Enlivex’s main treasury asset. According to Enlivex, listings on major exchanges support long-term accessibility and market depth for its RAIN holdings within the company’s digital asset treasury strategy.
How many RAIN tokens does Enlivex (ENLV) report holding and what is their value?
Enlivex reported holding 79,568,550,005 RAIN tokens as of June 21, 2026, valued at approximately $1.14 billion. According to Enlivex, these holdings translate into a reported treasury net asset value per share of $4.67, based on unaudited mark-to-market metrics.
How large is the Gate cryptocurrency exchange where RAIN will be listed?
Gate is described as serving over 54 million users and ranking among the top global exchanges. According to Gate, it holds the second-largest 24-hour spot trading volume worldwide and supports thousands of cryptocurrencies across spot, futures, margin, and wealth management products.
What role does the RAIN token play in Enlivex’s treasury and within its protocol?
RAIN is Enlivex’s primary digital treasury asset and focus of its acquisition strategy. According to Enlivex, RAIN also functions as the governance and utility token of a decentralized predictions and options protocol on Arbitrum, enabling on-chain markets tied to real-world events.
Key Takeaways
- Wintermute warned tighter Fed policy could slow key liquidity channels into crypto markets.
- Officials lifted the median 2026 rate outlook as inflation concerns broadened.
- Tighter monetary policy can raise funding costs and reduce risk appetite, limiting demand across all three channels.
Warsh-Led Fed Reprices Rate Expectations as Inflation Risks Move Higher
Crypto markets entered a tighter liquidity environment after the Federal Reserve held rates steady while signaling a firmer stance on inflation. Wintermute, a crypto market maker and liquidity provider, said the shift created a more challenging backdrop for digital assets reliant on sustained capital inflows.
Referring to the Fed’s policy shift and its implications for capital flows into digital assets, Wintermute wrote:
“For an asset class that needs liquidity arriving through ETFs, stablecoins and DATs, a Fed leaning toward tightening is the opposite of what gets those funnels flowing.”
Exchange-traded funds (ETFs) channel institutional capital into crypto markets, stablecoins provide dollar-linked liquidity used for trading and settlement, and digital asset treasuries commonly refer to corporate or institutional balance sheets allocating funds to crypto. Tighter monetary policy typically raises borrowing costs and reduces risk appetite, which can slow inflows across all three channels.
Federal Reserve officials, at Kevin Warsh’s first meeting as chair, removed any easing bias and shifted projections toward tighter policy. The median 2026 rate outlook rose to 3.8% from 3.4%, with nine of 18 policymakers now expecting at least one hike this year and 17 flagging upside inflation risks. Markets reacted quickly, pushing December hike odds to about 77% from roughly 24% a month earlier.
Officials also shortened the policy statement to 130 words from 341, reinforcing the sharper change in tone. Brent crude fell 8.2% during the week on expectations tied to a reopening of the Strait, yet Wintermute noted that the Fed’s inflation concern appeared broader than energy.
Iran Breakdown Forces Crypto to Absorb Weekend Repricing
Geopolitical tensions added pressure after an Iran agreement expected to be signed on June 19 unraveled before completion. Israel’s strikes in southern Lebanon led Iran to exit negotiations, delaying a planned signing ceremony in Switzerland. Qatar has since worked to keep talks alive into late June, leaving the outcome uncertain.
Attention now shifts to upcoming macro data and diplomacy. The May Personal Consumption Expenditures (PCE) report will provide updated inflation readings, while Qatar’s mediation efforts will shape near-term geopolitical risk and energy market stability.
Wintermute highlighted the near-term catalysts tied to both macro data and diplomacy:
“May PCE on Friday, and the Qatar talks are the near-term catalysts.”
Market structure amplified the impact. U.S. equities were closed for Juneteenth, delaying repricing, while crypto traded through the weekend and absorbed the shift immediately.
BTC fell 3.8% for the week, dropping from near $67,000 to around $62,000 before stabilizing in the low $60,000s. ETH declined 1.2% and fell back below the $2,000 level, while altcoins were broadly flat. The move triggered about $600 million in long liquidations versus under $90 million in shorts, extending June’s pattern of one-sided unwinds.
SINGAPORE – A man was arrested for allegedly stealing cash amounting to $50,000 from a victim during a meeting to purchase cryptocurrency late at night on June 21.
According to the police, who were alerted to a case of theft in New Upper Changi Road at 11.55pm that day, the victim had arranged to meet the suspect to purchase USDT cryptocurrency amounting to $100,000.
While preparing to hand the money over to the suspect, the victim had placed a portion of the cash on a bench, the police said in a statement on June 23.
The 25-year-old suspect then allegedly grabbed $50,000 worth of the cash placed on the bench and fled the scene.
Police officers arrested the suspect after establishing his identity with footage from police and CCTV cameras, and recovered cash amounting to $7,450.
The suspect is expected to be charged with the offence of theft on June 24. If found guilty, he can be jailed for up to three years, fined, or both.
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