United States — United States Securities and Exchange Commission & BNY

United States — United States Securities and Exchange Commission: The United States — United States Securities and Exchange Commission's regulatory stance on tokenized securities remains a factor for Coinbase's US operations, though this event is outside its jurisdiction.

BNY: BNY is building digital-asset custody services in ADGM, indicating growing institutional interest in tokenization, though not directly impacted by this event.

United States — United States Securities and Exchange Commission: The SEC is referenced as the former employer of Elad L. Roisman, highlighting his regulatory background. The agency's ongoing rulemaking on digital assets is relevant to Fireblocks' operations.

BNY: BNY is listed as a client of Fireblocks, but this event does not directly affect it.

United States — United States Securities and Exchange Commission: The SEC's withdrawal of SAB 121 in 2025 reduced regulatory barriers, facilitating bank entry into crypto custody.

BNY: BNY is a competitor that began offering crypto custody in 2022, providing context for Citi's move.

United States — United States Securities and Exchange Commission: SEC will receive Form 15 to terminate registration; routine regulatory action.

BNY: As trustee, BNY Mellon notified NYSE of delisting and is winding up the Trust; no financial impact.

United States — United States Securities and Exchange Commission: The SEC declared the registration statement effective, a routine regulatory step. No impact on the SEC or broader markets.

BNY: BNY Mellon acts as exchange agent, a standard administrative role. No material impact.