Category : Finance Magnates

Finance Magnates

Kraken Ramps Up European Presence by Acquiring BCM, Elevates Crypto Offering

Kraken has announced the completion of its acquisition of Coin Meester B.V. (BCM) today (Tuesday). This acquisition is a part of Kraken's strategy to grow in Europe.With BCM, one of the oldest registered crypto brokers in the Netherlands, Kraken has...

eToro Launches Spot Crypto Trading in Germany: Partners with Local Firms

eToro has expanded services around cryptocurrencies in Germany with the launch of spot trading, the company announced. Until now, it has only allowed its German customers to trade cryptocurrency contracts for differences (CFDs).Spot Trading with Loca...

Bitfarms Reaches Settlement with Riot, Restructures Board of Directors

After months of disputes, Bitcoin miners Bitfarms and Riot Platforms have resolved their differences, leading to changes in the Board of Directors of the former. In the settlement, announced on September 23, Andrés Finkielsztain has stepped down from...

Sygnum Secures Liechtenstein Crypto License, Eyes EU Expansion under MiCA

Sygnum, a digital assets banking group based in Zurich and Singapore, announced that it has obtained a crypto license in Liechtenstein. The license was granted to its subsidiary in the country, allowing it to offer regulated digital asset services, i...

Crypto Inflows Surge by Over $300 Million Following Fed's Rate Cut

The digital asset market rallied last week, recording a substantial influx of $321 million in investments. This upward trend followed the Federal Open Market Committee's (FOMC) surprising 50 basis point interest rate cut. Rising Bitcoin InflowsAccord...

Blockchain Disrupts the User-Generated Content: Can Creators Regain Control?

The internet’s evolution from Web1 to Web2 marked a massive shift in how we interact with content. In the days of Web1, most of us were passive observers. We consumed content, clicked through web pages, and absorbed the information in front of us. Bu...

Crypto Young Investors: BaFin Study Reveals over 50% Trust Social Media and Finfluencers

A recent study by BaFin indicates a growing trend among younger investors. Many individuals aged 18 to 45 are turning to social media for financial information. This shift is particularly evident in the land of cryptocurrencies, which are gaining pop...

Crypto Exchanges in AU Require Financial Licenses Starting in 2024: ASIC Expands Act

Australian regulators are reportedly drafting updated guidance that will require cryptocurrency exchanges to obtain financial services licenses. This will expand the current licensing requirements, which apply primarily to digital currency exchanges....

“We Will Encourage… Digital Assets”: Kamala Harris Mentions Crypto in $27M Fundraiser

US Vice President Kamala Harris, who is running to be the next US President, mentioned cryptocurrencies for the first time in public during a Wall Street fundraiser. She vowed to encourage investment in “digital assets” along with other modern techno...

Kamala Harris Mentions Crypto in $27M Fundraiser: “We Will Encourage… Digital Assets”

Texas Court Dismisses Consensys' Lawsuit Against the SEC

A legal battle between Consensys and the US Securities and Exchange Commission (SEC) took a new turn after a Texas federal court dismissed Consensys' lawsuit against the regulator. The dismissal was based on the court's decision that the important is...

Crypto.com Locks In PSP Licence from Bahrain, Gears Up for Card Launch

Crypto.com has secured full approval from the Central Bank of Bahrain to provide payment service provider (PSP) services. This approval was granted to its subsidiary, FORIS GFS BH B.S.C. CLOSED, registered in Bahrain. This marks another regulatory ac...

SEC Requests Additional Four Months to Submit Documents in Coinbase Case

The US Securities and Exchange Commission (SEC) has requested an additional four months to produce documents in the legal tussle with Coinbase. In a recent filing with the US District Court for the Southern District of New York, the regulator argued...

Silvergate Capital Declares Bankruptcy, Finalizing Its Crypto-Driven Collapse

Silvergate Capital has filed for bankruptcy to close its operations, marking the final chapter for the parent company of Silvergate Bank, Reuters reported. The La Jolla-based institution shut down operations earlier in 2023 following a crippling run...

SEC Hits ‘Pig Butchering’ Scammers for the First Time: Busts Two ‘Fake’ Crypto Platforms

Financial fraud and scams on social media have been rampant globally, and now the Securities and Exchange Commission (SEC) has taken its first action against such illegal activities. The regulator has announced it charged five entities and three indi...

Crypto Exchange Volumes Reach Highest Levels Since May, Top Performer Gains Over 560%

Although August was one of the worst months for Bitcoin (BTC) price this year, retail investor activity on leading centralized exchanges rebounded significantly. Reaching nearly $910 billion, August volumes hit their highest levels since May 2024. Ho...

Exclusive: Ex-CEO of Admirals Launches DEX White Label Solution on Solana

In the first half of this year, Victor Gherbovet, who previously collaborated with the FX/CFD broker Admirals for over a decade, decided to launch his own software-as-a-service (SaaS) technology company, FirstByt. Now, as Finance Magnates exclusively...

SEC Takes Action Against DeFi Platform: Charged Rari for Operating ‘Unregistered Broker’

The Securities and Exchange Commission (SEC) has taken action against another decentralized finance lending platform, as the regulator charged Rari Capital and its co-founders, alleging that they operated an unregistered broker, offered unregistered...

Bitget Becomes Sponsor of Football League Featuring Lewandowski, Mbappé, and Vinícius Jr

Cryptocurrency exchange Bitget has inked a new partnership with Spain's top-tier football league, LALIGA, becoming its official crypto partner for Eastern, Southeast Asian, and Latin American regions. The collaboration, unveiled at the Token2049 even...

Revolut Expands Crypto Offerings with Planned Stablecoin Launch

Fintech giant Revolut is planning to launch its own stablecoin, Coindesk reported, citing sources familiar with the matter. With plans to strengthen its crypto-asset offerings, the London-based firm aims to join PayPal, Ripple, and BitGo in the highl...

MiCA Crypto Alliance Teams Up with DSF to Nail Down Regulatory Compliance

The DLT Science Foundation (DSF) has announced its support for the launch of the MiCA Crypto Alliance, which includes Hedera, Ripple, and Aptos Foundation as founding members. This new association aims to facilitate compliance with the European Union...

FTX Auditor Prager Metis to Pay $1.95 Million for Negligence

Prager Metis, the accounting firm that audited FTX, has agreed to pay $745,000 in civil penalties to settle misconduct allegations brought by the Securities and Exchange Commission (SEC) in connection with its audits of the now-collapsed crypto excha...

BlockFills Enhances Platform with New Change FX Benchmark Data Integration

Global prime brokerage firm BlockFills has entered into a partnership with New Change FX (NCFX) to introduce NCFX’s benchmark data and analytics to BlockFills’ platform.Crypto Market InsightsAccording to the official announcement, the integration pro...

Celsius’ Ex-CEO Seeks Testimony of Former Top Staff in Criminal Trial

Alex Mashinsky, the former CEO of Celsius, is seeking testimony from his former top executives in court as his criminal trial is set to start today (Tuesday). According to a memorandum filed on Friday by his lawyers, he has asked the court to allow s...

Banking Giant Bets Big on EU's First Regulated Crypto Futures Platform

The European cryptocurrency exchange One Trading (formerly known as Bitpanda Pro) has just secured strategic funding from SC Ventures, the investment arm of Standard Chartered. This coincided with the digital asset platform obtaining new crypto autho...

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