Category : Finance Magnates

Finance Magnates

“Governments and Banks Would Stop Bitcoin as a Threat,” Says DGM Tech Solutions CEO

In a recent discussion with Finance Magnates’ Jeff Patterson, Constantinos Michailides, Founder and CEO of DGM Tech Solutions, outlined how artificial intelligence, blockchain, and outsourcing are affecting the industry. The conversation took place a...

JPMorgan Taps Coinbase to Open Crypto Access for Cardholders

JPMorgan Chase will allow customers to use its credit cards to purchase cryptocurrency on Coinbase, following a new partnership between the two firms announced Wednesday.The rollout will begin in fall 2025, enabling Chase cardholders to fund their Co...

Kraken Eyes $500M Funding Round at $15B Valuation as IPO Plans Take Shape

Cryptocurrency exchange Kraken is pursuing $500 million in fresh funding at a $15 billion valuation, people familiar with the matter told The Information, marking a significant step up from its previous $11 billion price tag in 2022.Kraken Is Buildin...

U.S. SEC Eases Rules for Bitcoin, Ether Funds in Shift From Cash-Only Model

The U.S. Securities and Exchange Commission on Monday approved new rules allowing authorized participants to create and redeem shares of crypto exchange-traded products (ETPs) using in-kind transfers of bitcoin and ether. The decision departs from th...

Australian Regulator Flags Bitget for 125x-Leveraged Crypto Futures Offerings

The Australian financial market regulator has warned against the cryptocurrency exchange Bitget, which has been offering “unlicensed” futures products with 125:1 leverage. The exchange does not hold the proper local licence to offer crypto derivative...

Revolut Restarts Crypto Staking in Hungary Following Regulatory Review

Revolut has reinstated its crypto staking services for customers in Hungary following a temporary suspension triggered by new government regulations, Coindesk reported.The digital bank halted most of its cryptocurrency features in Hungary earlier thi...

Tourists in Rio May Soon Pay with Crypto as Bybit and Tether Expand

Bybit has entered a strategic partnership with Tether to promote cryptocurrency adoption in Brazil. Bybit ranks second in global cryptocurrency trading volume. Tether is the issuer of USDT, the most widely used stablecoin globally.Plans for Crypto in...

Hidden Road Expands Prime Brokerage Services with OTC Crypto Options

Hidden Road has expanded its prime brokerage services by adding support for over-the-counter (OTC) options on digital assets. The new offering allows institutions to execute OTC options and apply cross-margining with their other crypto holdings.Launc...

Binance Now Accepts Circle’s Yield-Bearing USYC Token for Institutional Collateral

Binance has integrated Circle’s USYC token into its platform, allowing institutional clients to use this tokenized money market fund as off-exchange collateral in derivatives trading. This collaboration aims to meet growing institutional demand for t...

AI Bots Now Power 67% of Gen Z Crypto Trades, Study Shows

A new report from cryptocurrency exchange MEXC reveals that most Generation Z crypto traders now rely on artificial intelligence tools to guide their investment decisions. The findings highlight how automation and AI-driven strategies are reshaping c...

Finvasia Backs UGold’s Issuer as Market Cap of the Token Hits $11.5 Billion

Finvasia has taken a stake in Genius Digital Partners, the developer of UGold, after supporting the firm passively for several months. The decision to add the company to Finvasia’s holdings came after the tokenised gold continued to gain traction in...

Kraken’s Co-Founder Jesse Powell Cleared of Hacking Charges After FBI Investigation

The FBI ended its investigation into Jesse Powell over alleged hacking of a nonprofit. Powell faces no criminal charges, and the devices seized have reportedly been returned.According to Fortune report, the FBI has officially closed its criminal inve...

Prediction Platform Polymarket Buys QCEX Exchange in $112 Million Deal to Reenter the U.S.

Polymarket has acquired the parent company of QCEX, a CFTC-licensed exchange and clearinghouse, in a $112 million deal that paves the way for the crypto prediction market’s return to the United States.Based on the sale's terms, Quadcode Group will as...

No App or Wallet Needed: How Telegram Is Changing Access to Crypto Finance

Fintech has long been obsessed with building the next great app. From neobanks to DeFi protocols, the playbook has been to launch a standalone product and then convince users to download it, create an account, and learn a new interface. But this mode...

Trump Signs GENIUS Act Into Law, Setting Stage for Wider Crypto Oversight

President Donald Trump signed the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act into law on Friday, marking the United States' first formal step toward regulating digital assets. The legislation focuses on defining an...

After Kraken, Bybit, and Robinhood, KuCoin Launches Tokenized Stocks

Cryptocurrency exchange KuCoin has introduced xStocks, a new product offering tokenized versions of major U.S. equities, including Tesla, NVIDIA, and the S&P 500 ETF. The assets are now available for trading on KuCoin and are denominated in USDT....

US House Paves the GENIUS Act’s Way for Regulating Stablecoins

The GENIUS Act, which sets out a framework for stablecoins in the US, has received the lawmakers' approval in the House of Representatives, clearing its way to become the first major crypto law in the country.A Signature Away from Becoming LawThe Gui...

Seven Crypto ATMs Seized in Joint FCA and Police Operation in London

UK regulators have seized seven cryptocurrency ATMs during coordinated raids on four properties in southwest London. The operation was carried out jointly by the Financial Conduct Authority and the Metropolitan Police Service.FCA Seizes Crypto ATMs i...

If DeFi Had This in 2022, Maybe It Wouldn’t Have Collapsed

In mid-2022, the crypto markets faced a brutal reckoning. Over $2 trillion in market capitalization evaporated in a matter of months. The collapse of Terra, followed by cascading failures like Celsius, Voyager, and Three Arrows Capital, exposed a fra...

Citi “Is Looking at the Issuance” of a Stablecoin: CEO Confirms

The push by big banks towards a blockchain-based financial system is becoming more noticeable. Citi’s CEO, Jane Fraser, recently revealed that her bank is “looking at the issuance of a Citi stablecoin.” She added that the Wall Street firm is also con...

Following NinjaTrader Acquisition, Kraken Opens Access to CME-Listed Crypto Futures

Kraken has launched Kraken Derivatives US, a regulated service offering U.S. clients direct access to CME-listed cryptocurrency futures. The move follows Kraken’s acquisition of retail futures broker NinjaTrader, a deal that laid the foundation for i...

Hungary to Jail Crypto Traders for 5 Years for Using “Unauthorised” Platforms

Hungary, a Central European country with a population of over 9.5 million, has introduced strict laws criminalising trading on an “unauthorised crypto-asset exchange service” and imposing jail terms of up to five years for traders and eight years for...

Grayscale Eyes IPO After Circle’s Listing Renewed Investor Interest

Grayscale Investments has filed a confidential draft registration statement with the U.S. Securities and Exchange Commission, signaling potential plans for an initial public offering.Engaging the SEC Behind Closed DoorsThe asset manager, known for it...

Robinhood Offers Crypto Trading “at the Lowest Cost,” but Is It False Advertising?

Robinhood (Nasdaq: HOOD) is facing an investigation by Florida’s top prosecutor for claiming that it offers crypto trading “at the lowest cost on average.” The state cop is also issuing a subpoena to the trading platform to uncover internal documents...

"Calling All Crypto Transactions Externalization Would Be Very Limiting," Warns FMAS:25 Panel

At the Finance Magnates Africa Summit:25, a panel discussion titled “The Future of Crypto, Lessons from Africa” brought together speakers to examine key developments in the cryptocurrency sector. The panel featured Andres Felipe Perez, Director of Fi...

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