FCA warns trading firms over dangerous ‘gamification’ November 21, 2022 The UK’s financial watchdog has fired a warning shot at trading apps today over the so-called gamification of betting on the financial markets, amid fears unsophisticated investors are being lured in to bets against their own interest.
FTX implosion shows urgent need for crypto rules, says Bank of England November 21, 2022 The implosion of FTX has underlined the need to rapidly bring crypto within the remit of financial watchdogs before it threatens the stability of the wider financial system, the deputy governor of the Bank of England has warned today.
Fasanara bags $200m fintech mandate from Canadian pension fund November 21, 2022 London-based asset manager Fasanara Capital has won a $200m mandate from one of Canada’s largest pension funds to channel cash into fintech firms around the world.
Bankman-Fried claims FTX has £7.6bn assets as bankruptcy shockwaves continue November 16, 2022 FTX founder Sam Bankman-Fried claimed that the firm still had $9bn (£7.6bn) in assets today as it scrambles to raise cash to pay back creditors following its collapse.
OKX reveals £84m ‘market recovery fund’ after rebuffing FTX rescue November 16, 2022 A crypto exchange that rebuffed a rescue request from FTX has announced a $100m ‘market recovery fund’ to support ailing firms on the verge of collapse.
Questions hang over ombudsman’s role in the buy-now pay-later sector November 15, 2022 Lofty fees at the Financial Ombudsman Service may make it an unworkable solution for buy-now pay-later disputes, firms have warned.
‘One-size-fits-all’ UK crypto rules won’t prevent an FTX repeat, Ripple warns November 15, 2022 The implosion of crypto exchange FTX has underscored the urgent need for a “comprehensive and nuanced regulatory framework” in the UK, crypto firm Ripple told City A.M. today.
Regulators circle Bankman-Fried as FTX predicts creditors could top one million November 15, 2022 Collapsed crypto exchange FTX expects to have more than one million creditors, the firm has revealed in bankruptcy filings, as regulators and policy makers circle founder Sam Bankman-Fried and look to stave off further collapses across the industry.
Payouts fintech WeGift bags £26m funding as firms dish out cost of living support November 15, 2022 Digital payouts firm WeGift revealed it had bagged a £26m funding injection today as it looks to tap into a wave of firms dishing out one-off payments to staff and customers.
OakNorth boss: Government must lure investors to lock-in homegrown tech firms November 14, 2022 The government must lure investors to the UK if it is to lock-in homegrown tech firms, the co-founder of London-based fintech OakNorth has said. London, which was today overtaken by Paris as Europe’s biggest stock market, has been “having a tough time convincing technology companies to list here,” Rishi Khosla wrote in The Times today. [...]