Fintech
- Finance
The Fintech Files: Kalifa’s rallying cry, pro traders pick bitcoin and Klarna to axe jobs
A little over a year ago, Ron Kalifa’s review into Britain’s fintech scene landed – and it caused quite a…
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Mark Mobius sees bitcoin plunging to $10k: ‘Buy the dip will not work’
Veteran emerging markets investor Mark Mobius has warned investors not to “buy the dip” following the latest crash in bitcoin’s…
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GameStop rolls out digital wallet for NFT tokens and crypto
GameStop launched a digital wallet for cryptocurrencies and nonfungible tokens, pushing further into a buzzy area as it looks to…
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Klarna plans to lay off 10% of workers due to poor market conditions
Buy-now-pay-later giant Klarna is to lay off about one-in-10 of its employees, as the company fights against a worsening economic…
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Ex-BitMEX CEO sentenced over money laundering compliance failure
Arthur Hayes, a co-founder and former chief executive of cryptocurrency derivatives exchange BitMEX, has been sentenced to serve six months…
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Bitcoin and other cryptocurrencies are rallying — watch out for another downward move
Bitcoin and other cryptocurrencies were rallying on 20 May as digital assets continued a recent outperformance of stocks, though there are…
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SoftBank-backed fintech giant Klarna looks for new funds at lower valuation
Klarna Bank is seeking to raise new funds that could value the fintech giant at almost a third less than…
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SEC chair Gary Gensler says there is more crypto pain to come
Securities and Exchange Commission chairman Gary Gensler said 18 May he worries that more investors will be harmed in cryptocurrency…
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How the crypto crash exposes the hollowness of its libertarian promise
To its advocates, cryptocurrency is, at its heart, a libertarian project to free mankind from the shackles of government —…
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Meet the 24-year-old who quit hedge fund Citadel to get rich in blockchain network Terra. Two months later, ‘there is no Terra anymore’
At the start of 2022, Neel Somani was a quantitative research analyst working at Citadel, billionaire Ken Griffin’s powerhouse hedge-fund…
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Nomura to launch new firm to scale up offerings in crypto, DeFi and NFTs
Nomura said it is launching a new digital assets company to provide its institutional clients with crypto trading services. The new…
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London ‘buy now, pay later’ startup Zilch heads to Miami with new office
A London “buy now, pay later” start-up is opening up in Miami as the fintech tries to crack America. Zilch plans…
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Creator of TerraUSD plans to overhaul cryptocurrency
The price of the stablecoin TerraUSD was down sharply on 16 May as the cryptocurrency’s creator announced a plan to…
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Crypto prices are moving in lockstep with traditional markets — here’s what that means for investors
Cryptocurrency prices are moving in lockstep with stocks and bonds like never before, punishing those who bought bitcoin and other…
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SEC chair Gary Gensler says crypto assets are securities and thus ‘core to our remit’
Securities and Exchange Commission chair Gary Gensler said that crypto assets count as a “security contract”, which falls under the…
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FCA sees flood of applicants for prized crypto job
Seventy-six applicants are vying to head up crypto regulation at the Financial Conduct Authority, Financial News can reveal. That is…
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Grayscale launches ETF in Europe to track ‘future of finance’ stocks like Coinbase, Robinhood
Grayscale is launching its first European ETF, the Grayscale Future of Finance UCITS, which will list on the London Stock…
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Elon Musk says $44bn Twitter deal is on hold
Elon Musk said his deal to buy social media platform Twitter is on hold because of pending calculations over spam and…
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How a stablecoin crash shook the crypto market
The cryptocurrency TerraUSD had one job: Maintain its value at $1 per coin. Since it launched in 2020, it had…
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Robinhood stake acquired by FTX founder Sam Bankman-Fried
One of the biggest names in cryptocurrencies is betting on individual investors. Sam Bankman-Fried, the 30-year-old billionaire who founded the cryptocurrency exchange…
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Regulators are investigating Elon Musk’s late disclosure of his Twitter stake
WASHINGTON — Federal regulators are investigating Elon Musk’s late disclosure last month of his sizeable stake in Twitter, according to…
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Bitcoin tumble continues amid TerraUSD fall
The price of bitcoin was under pressure again on 12 May, with even bigger losses among smaller cryptocurrencies, as the…
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Coinbase warns crypto users may not be protected in the event of bankruptcy
Cryptocurrency trading platforms might look and feel like regular brokerage apps to everyday users, but regulators have long warned they…
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Grayscale tells SEC that turning biggest bitcoin fund into ETF will unlock $8 billion for investors
Michael Sonnenshein, CEO, Grayscale Investments at the NYSE, April 18, 2022. Source: NYSE Grayscale, the asset manager running the world’s…
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Bitcoin plunges as Terra’s meltdown drags cryptos lower
Bitcoin and other cryptocurrencies remained under pressure, with the focus on the meltdown of stablecoin TerraUSD, which is designed to be pegged to…
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Algorithmic stablecoin TerraUSD plunges as spooked investors step back
A selloff in a cryptocurrency that was supposed to be pegged to $1 accelerated 11 May, sending its price to…
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Elon Musk says he would remove Twitter’s ban on Donald Trump
Elon Musk said he would reverse Twitter ban on former President Donald Trump. “I do think that it was not…
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Coinbase says it is bleeding users as Nasdaq and bitcoin continue to fall
The biggest cryptocurrency exchange in the US said it was bleeding users, reflecting continued destruction in the crypto market and…
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SoFi stock falls after fintech firm accidentally releases first-quarter report early
Shares of SoFi fell sharply on Tuesday and were halted for nearly three hours after the company accidentally released its…
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TerraUSD falls below its fixed value, triggering crypto selloff
One type of cryptocurrency, a so-called stablecoin, is meant to keep its value at $1. But on 9 May, the…
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Why bitcoin’s recovery may not happen anytime soon
Cryptocurrency prices tumbled over the weekend and on into 9 May, with Bitcoin nearing a yearly low as investors continued…
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Bitstamp CEO Julian Sawyer leaves crypto exchange in surprise move after less than 18 months in role
Julian Sawyer who was serving as chief executive at cryptocurrency exchange Bitstamp has left the company effective immediately. In a…
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Crypto’s just had a rough weekend — here’s what happened
The cryptocurrency market fell over the weekend, mirroring the slide of the broader stock market. The world’s largest cryptocurrency, bitcoin,…
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Here’s why Elizabeth Warren is concerned over Fidelity’s bitcoin pension plan
Senator Elizabeth Warren voiced concerns about Fidelity Investments’ plan to include bitcoin in customers’ 401(k) accounts, calling it “a risky…
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Bitcoin, crypto prices slip as investors step back from risky stakes amid Fed moves
Cryptocurrency prices slid on the afternoon of 5 May along with major stock market indexes. Bitcoin fell to $36,431.57 at…
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Why investors need legal certainty before they pile into NFTs
Bourn Collier is a director at consultancy Truva Corp Anyone else get the feeling that the Treasury requesting the Royal…
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Binance pledges $500m as Elon Musk gets $7bn in fresh funding for Twitter takeover
The world’s largest cryptocurrency exchange, Binance, has committed $500m in financing to help Elon Musk buy Twitter. The firm is…
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Binance chooses Paris as its European trading hub
Binance, the world’s largest crypto exchange, is planting a foot in Paris as it seeks to establish itself as a…
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Ark’s Cathie Wood to crypto faithful: Keep slamming bitcoin ‘if you want the US to lose’
The Ark Innovation fund’s Cathie Wood roused crypto bulls at the Bitcoin 2022 conference in Miami by touting bitcoin as…
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The real-life ‘Wolf of Wall Street’ is now a crypto guru. That’s a sign of a looming reckoning
Critics of the cryptocurrency industry have long said that bitcoin and other digital assets are barely discernible from a Ponzi scheme. Is…
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Top grads flock to £100k crypto jobs instead of banking: ‘There’s growth in every single direction and almost zero hierarchy’
Forget banking, crypto is now where the talent and money are. Take Pujeet Manot — the sort of hire the…
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Coinbase, Ark CEOs on why crypto will boost global GDP
LOS ANGELES — One billion people around the world will use cryptocurrency technology in one way or another by the…
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Elon Musk says he plans to take Twitter public
Elon Musk, who has agreed to take Twitter private in a $44bn deal, has told potential investors he could return…
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CBDCs shouldn’t be the only form of money, central bankers say
As central bankers in advanced economies consider launching their own digital currencies, top officials have warned that CBDCs should not replace existing payments…
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Coachella for Capitalists: Why bitcoin topped the bill at Berkshire Hathaway’s AGM
It’s been called the Woodstock of Capitalism, Coachella for Capitalists, and a whole lot worse too. What’s for certain is that Berkshire…
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The Fed isn’t going to save bitcoin’s bear market
A bear market has settled in for tech stocks as the Fed turns hawkish. It doesn’t bode well for bitcoin and…
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Warren Buffett and Charlie Munger hit out at bitcoin at Berkshire’s AGM but crypto fans are unmoved
Warren Buffett and Charlie Munger doubled down on their criticism of bitcoin at Berkshire Hathaway’s annual shareholders meeting on 30…
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US Labor Department has ‘grave concerns’ about Fidelity’s bitcoin pension plan
Labor Department officials believe Fidelity Investments’s plan to allow investors to put bitcoin in their 401(k) accounts risks the retirement security of…
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Apollo snaps up JPMorgan’s Christine Moy in digital assets push
Private equity firm Apollo has hired former JPMorgan metaverse head Christine Moy to steer a push into the digital asset…
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Robinhood shares fall nearly 10% as retail brokerage reports shrinking revenue, fewer active users
Retail brokerage firm Robinhood reported a wider-than-expected loss and shrinking revenue for the first quarter, showing signs that the small-dollar…
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