Category : Finance Magnates

Finance Magnates

Binance Says Four in Ten bStocks Users Are New to Traditional Investing

Binance says its bStocks offering has reached $500 million in assets under management seven weeks after launch, with 41.5% of users entering traditional financial markets for the first time through the tokenised securities product.The company positio...

Hungary Set to Drop Tough National Crypto Rules After Near-Total Industry Exodus

Just eight days after becoming the first Hungary-based provider to receive a MiCA licence, CoinCash said the country's parliament had approved legislation repealing Hungary's additional national crypto-asset requirements. CoinCash received its MiCA...

Uphold Cuts Staff. The Money Now Goes to Its Bank-Facing Business

Uphold has cut its global headcount by 17%, laying off roughly 85 employees and contractors, CoinDesk reported, citing sources familiar with the matter.The company is redirecting spending toward its enterprise business after nearly doubling headcoun...

BitMart Winds Down Trading as Exchange Closures Pile Up

BitMart is shutting down its trading operations. The exchange suspended new registrations, deposits, and new orders on July 26, 2026, and plans to stop all spot and futures trading at 01:00 UTC on August 26. Withdrawals will stay open until January 3...

Compliance Specialist at Exness Becomes Vanuatu’s Stablecoin Commissioner

Jackson Miake has become Vanuatu’s Commissioner of Stablecoins. His LinkedIn profile lists the role as a contract position with the Ministry of Finance and Economic Management beginning in July 2026. Before the appointment, Miake’s most recent posit...

EU Adds HTX to Russia Sanctions Two Months After UK's Action Against Crypto Networks

The European Union has added cryptocurrency exchange HTX to its latest package of sanctions against Russia, expanding efforts to restrict financial networks that European authorities say have helped Moscow bypass existing restrictions.The package was...

BitMEX Is Closing, but the Perpetual Swap Is Just Getting Started

Eight months ago, BitMEX co-founder Arthur Hayes argued that traditional exchanges would have to “adapt or die” as perpetual swaps spread beyond crypto. Now BitMEX itself is closing, while the exchanges it once challenged are beginning to adopt its d...

MiCA Is Not Only for Crypto. It Will Also Decide Prediction Markets’ European Future

While the industry spent the summer arguing about stablecoin reserves and DeFi certification schemes, the most consequential question in European crypto policy slipped in almost unnoticed. On May 20, 2026, the European Commission opened a targeted co...

Five Regulatory Moves This Week That Will Shape Crypto Trading in the Second Half of 2026

This week regulators were busy defining where crypto trading can happen, which intermediaries can provide access, how assets get cleared, and when offshore platforms fall outside the permitted perimeter. Brokers and exchanges are getting clearer rou...

What Does BitMEX’s Closure Reveal About New US Routes for Crypto Perpetuals?

Crypto perpetuals finally have defined regulatory routes in the US. That was not the case when offshore exchanges such as BitMEX built the market. BitMEX will shut its exchange on 23 September after an 11-year run, providing a timely opportunity to e...

BitMEX, Pioneer of Crypto Perps, Closes Down Just as the Market Heats Up

BitMEX, the derivative exchange that revolutionised crypto trading with the invention of the perpetual swap, has announced it will shut down its platform on 23 September 2026.In a statement released today (Thursday), HDR Global Trading Limited, the e...

Cheques and Balances: Former Forex.com and Invast Director Sentenced Over Suspected Scam Proceeds

Brendan Gunn has been sentenced in the Local Court of NSW for dealing with more than AU$180,000 when it was reasonable to suspect the funds were proceeds of crime. He received 12 months' imprisonment, to be released immediately upon entering a $3,000...

SEC Settles FOIA Suit With Coinbase. The Agency Pays $150,000 Over Lost Gensler Text Messages

The US Securities and Exchange Commission has agreed to pay $150,000 in legal fees to settle a Freedom of Information Act lawsuit brought by Coinbase. The suit closes a two-year dispute over internal records from the agency's crypto enforcement campa...

Payward Taps GTN to Expand xStocks into Hong Kong and Other Global Markets

GTN and Payward, the parent company of Kraken and developer of the xStocks tokenised equities framework, have entered into a partnership to expand the range of assets available through xStocks.The announcement follows Payward's recent expansion of xS...

Kraken Parent Taps GTN to Expand xStocks into Hong Kong and Other Global Markets

Russia Gives Crypto Firms Until July 2027 to Obtain Licences Under New Market Rules

Russia’s State Duma has adopted legislation creating a regulated cryptocurrency market, Exchanges, custodians and other service providers must obtain licences under the new framework until 1 July 2027. From that date, cryptocurrency trading inside Ru...

TradFi Perpetuals Become Crypto Exchanges' Fastest-Growing Segment. Bitget Ranks Second Behind Binance

Bitget generated nearly $70 billion in TradFi perpetual trading volume during the second quarter, ranking second behind only Binance. TokenInsight's latest exchange industry report identifies the segment as one of crypto exchanges' fastest-growing p...

Prometheum Lands First Disclosed Client for SEC-Regulated Omnibus Crypto Clearing Service

Prometheum has disclosed the first client for one of its flagship infrastructure services after years of questions over whether its SEC-regulated crypto brokerage model could attract real customers. Velocity Capital has joined Prometheum Capital’s o...

Vietnam to Fine Retail Crypto Traders Using Offshore Exchanges

Most crypto enforcement globally has focused on exchanges rather than individual users. Vietnam’s decree extends liability directly to retail traders who continue using unlicensed platforms. Vietnam will begin fining domestic investors who trade di...

Citadel Securities Takes $400M Stake in Crypto.com as Digital Markets Strategy Accelerates

Citadel Securities has invested $400 million in Crypto.com, valuing the exchange at $20 billion. It is Crypto.com's first institutional funding round in its ten-year history. The deal follows Citadel Securities' investment in Kraken, where it led an...

Kraken Launches USD-Settled Crypto Options for Institutional Traders

Kraken has launched cash-settled, USD-denominated options on BTC and ETH with portfolio margin enabled by default, entering a segment of the crypto derivatives market where Coinbase and CME Group have also been expanding their positions. Kraken's Lau...

EXMO Pulls the Plug: Sanctioned Crypto Exchange Winds Down, Leaves Users Holding IOU Tokens

EXMO.com announced that it is beginning an orderly wind-down of the platform, citing UK financial sanctions against legal entities within the EXMO.com group. The exchange said it disputes the sanctions but is cooperating with authorities.The designat...

Virtu Financial Joins BitGo Prime network as Institutional Crypto Liquidity Moves onto Regulated Rails

Virtu Financial has joined BitGo Prime's global liquidity network, bringing a major traditional market maker into BitGo's institutional digital asset trading stack.The companies announced the partnership in a joint press release on July 15, 2026.Sepa...

Binance Calls Its Multi-Asset Strategy a Financial “Super App”

Binance has for the first time described its expansion beyond crypto as a plan to build a “multi-asset financial super app,” outlining a strategy that combines traditional brokerage, stablecoin payments and tokenised securities inside a single platfo...

Revolut Moves Closer to UAE Crypto Launch with VARA In-Principle Approval

Revolut has received in-principle approval from Dubai's Virtual Assets Regulatory Authority to provide virtual asset services in the United Arab Emirates, expanding its regulatory presence in the country.The approval comes as Dubai continues to expan...

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