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Justin Sun Appointed Adviser to Donald Trump's Crypto Project
- Dubbed World Liberty Financial, the project aims to promote US dollar-pegged stablecoins.
- WLFI's token pre-sale reportedly raised only $8 million on its first day despite its ambitious targets, including raising $300 million.
Tuesday, 26/11/2024 | 20:07 GMT by
Jared Kirui
FCA Reduces Enforcement Timelines by Nearly 70%, Targets Financial Crime and Innovation
- The regulator mentioned that recent cases were closed in 13 months from the previous average of 42 months.
- The FCA is now exploring digital identity tools to streamline anti-money laundering processes without compromising security.
Tuesday, 26/11/2024 | 17:29 GMT by
Jared Kirui
FINRA Licenses Netcapital as Broker-Dealer
- The approval allows Netcapital to syndicate deals and offer more extensive fundraising options.
- The company now aims to democratize private equity investment by using its fintech platform to improve online fundraising.
Tuesday, 26/11/2024 | 15:11 GMT by
Jared Kirui
Ripple’s XRP Soaring High: WisdomTree Files ETF Application in Delaware
- The company joined other firms, such as Bitwise, Canary Capital, and 21Shares, in pursuing XRP ETFs in the US.
- XRP is one of the best-performing altcoins in the latest crypto rally, with prices at levels last seen in 2021.
Monday, 25/11/2024 | 20:28 GMT by
Jared Kirui
dxFeed Collaborates with Hybrid Trading Firm to Improve Market Data Access
- The partnership involving Tickblaze aims to address high data fees and technical complexities.
- Tickblaze, originally focusing on institutional clients, has expanded its offerings to retail traders.
Monday, 25/11/2024 | 17:42 GMT by
Jared Kirui
Bitcoin Retreats as Elon Musk Touts Crypto Solution to US Debt Crisis
- Musk proposed a controversial solution that aims to reduce U.S. spending by $2 trillion.
- The current world’s richest man is pushing for economic reforms that include integrating blockchain technology.
Monday, 25/11/2024 | 15:33 GMT by
Jared Kirui
Coinbase Deepens NBA Ties with Los Angeles Clippers Sponsorship Deal
- The sponsorship includes Coinbase’s branding on the LA Clippers' Intuit Dome through in-arena signage.
- Additionally, it will reportedly feature merchandise, digital collectibles, and crypto rewards.
Monday, 25/11/2024 | 13:23 GMT by
Jared Kirui
Weekly Brief: My Forex Funds Negotiating with CFTC?, Bitcoin Nears $100K, and More
- Also this week, the SEC confirmed that Gary Gensler will step down on Jan. 20; eToro secured a New York license, while Italy's lawmakers rejected crypto tax hikes. Meanwhile, Revolut launched UK and EU stock trading, while CySEC canceled a few licenses.
Saturday, 23/11/2024 | 03:00 GMT by
Jared Kirui
SEC Fines Webull, Two Broker-Dealers for Compliance Failures
- Lightspeed Financial Services Group, Paulson Investment Company, and Webull Financial agreed to pay the regulator a total of $275,000.
- The three firms reportedly failed to meet filing standards for suspicious activity reports.
Friday, 22/11/2024 | 19:05 GMT by
Jared Kirui
Ripple’s XRP Soars 174% in a Month Driven by Optimism for Pro-Crypto Policies
- XRP has reportedly dominated trading volumes on South Korean exchanges, surpassing Bitcoin and Dogecoin.
- Speculation about a US-based XRP exchange-traded fund (ETF) has also boosted prices.
Friday, 22/11/2024 | 13:54 GMT by
Jared Kirui
US Consumer Watchdog Tightens Oversight on Nonbank Payment Services
- This increased oversight allows the CFPB to demand company records and ensure compliance with consumer protection regulations.
- The rule also aims to protect consumers' privacy, prevent fraud, and stop illegal account closures.
Thursday, 21/11/2024 | 21:02 GMT by
Jared Kirui
Donald Trump In, Gary Gensler Out: SEC Boss to Leave Office on Inauguration Day
- Trump previously pledged to remove Gensler, whose leadership has been marked by stringent regulations for cryptocurrencies.
- SEC has praised Gensler for spearheading reforms, especially in the capital markets.
Thursday, 21/11/2024 | 18:40 GMT by
Jared Kirui
Identity Fraud in the Age of AI: Account Takeover Scams Soar 250%
- Sumsub's latest report showed that fake IDs and altered documents account for 50% of identity fraud cases.
- Fraud rates vary regionally, with Latvia, Ukraine, and Estonia leading in Europe, while Singapore experienced a 207% surge.
Thursday, 21/11/2024 | 13:38 GMT by
Jared Kirui
eToro Secures New York License, Eyes Global Expansion
- The fintech firm now aims to offer access to stocks, options, cryptocurrencies, commodities, and indices in the region.
- The company is also exploring AI technology to enable users to analyze investment opportunities.
Wednesday, 20/11/2024 | 19:58 GMT by
Jared Kirui
UK Fund Managers Boost FX Hedging as 86% Increase Use of Options
- The pound’s strong performance in 2024, including a two-year high against the dollar, benefited 87% of fund managers.
- Automation and AI are increasingly shaping workflows, with 93% of fund managers planning to use AI in FX settlement.
Wednesday, 20/11/2024 | 15:52 GMT by
Jared Kirui
Bitcoin ETF Options Debut With Strong Trading Volumes on Nasdaq
- 73,000 iShares Bitcoin Trust ETF contracts were reportedly traded within the first hour of its listing.
- The introduction of Bitcoin ETF options is expected to encourage the creation of new funds with diverse strategies.
Tuesday, 19/11/2024 | 20:56 GMT by
Jared Kirui
Italy's Lawmakers Oppose Crypto Tax Increase in Budget Proposal
- Economy Minister Giancarlo Giorgetti proposed raising cryptocurrency capital gains taxes from 26% to 42%.
- A section of legislators is now opposing the steep tax hike, suggesting a cap of 28%.
Tuesday, 19/11/2024 | 19:31 GMT by
Jared Kirui
Robinhood Expands Wealth Management Services With $300M TradePMR Acquisition
- The partnership includes a referral program connecting fiduciary advisors with Robinhood.
- The deal, which involves cash and stock, is expected to close in the first half of 2025.
Tuesday, 19/11/2024 | 13:18 GMT by
Jared Kirui
EU Securities Regulator Sets 2027 Deadline for T+1 Settlement Transition
- This change seeks to enhance market efficiency, reduce risks, and align EU practices with global standards.
- The transition will require updates to the Central Securities Depositories Regulation.
Monday, 18/11/2024 | 20:37 GMT by
Jared Kirui
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