Robinhood Crypto fined £24.7m in New York for regulatory violations August 3, 2022 Robinhood Crypto was hit with a $30m (£24.7m) for violating anti-money laundering, cybersecurity, and consumer protection requirements. New York’s financial regulator the Department of Financial Services fined the trading platform’s crypto business on Tuesday for “significant failures” in money laundering obligations and cyber security and violating “critical consumer and reporting requirements.” Additionally, Robinhood Crypto must [...]
Solana ecosystem attacked in multimillion pound hack August 3, 2022 Solana suffered a major hack which led to more than $5.2m (£4.3m) in funds stolen and around 8000 wallets hit. The crypto ecosystem was attacked on Tuesday, apparently from a flaw in certain wallet software instead of the Solana blockchain itself, blockchain analytics company Elliptic said. The exact cause is not clear yet. “Engineers from [...]
Peer2Peer Finance Awards – nominations now open! August 3, 2022 | Sponsored Peer2Peer Finance News is hosting its inaugural awards event – the Peer2Peer Finance Awards – on Tuesday 6 December 2022 at the prestigious Hurlingham Club in London. The awards will highlight the best and brightest among the peer-to-peer lending industry, including platforms and the service providers supporting them. Categories have been announced, with all awards free to enter [...]
Bitcoin rose in July amid crypto crash August 3, 2022 In association with Luno Bitcoin has continued to establish itself above $20k this week, with the price hitting highs of more than $24k over the weekend. It’s since dropped back slightly, broadly staying in a zone between $22-23k as economic and geopolitical concerns continue to negatively impact traditional and crypto markets alike. On the whole, [...]
US recession risk remains as Fed seeks to tame inflation August 3, 2022 | City Talk After its latest rate rise, the Federal Reserve has signalled the pace of hikes could slow. But a recession may still be necessary to bring runaway inflation under control. The Federal Reserve raised interest rates by another 75 basis points (bps) at its July meeting, but indicated that the pace could slow from here. In [...]
KKR slumps to second quarter loss as deals slowdown hits August 3, 2022 Investment giant KKR slumped to a loss in the second quarter of the year after market volatility sparked a slowdown in dealmaking and a fall in the return on its investments.
FCA’s new promotion rules will leave crypto firms in ‘regulatory limbo’, UK industry body warns August 2, 2022 The Financial Conduct Authority’s crackdown on marketing of high-risk investments to consumers will leave crypto firms in “regulatory limbo”, the UK’s FinTech industry body warned. The FCA laid down stricter rules to deal with “misleading” ads that encourage investment in risky products and tighter requirements for companies doing so, but crypto was not included in [...]
£155.5m stolen from crypto firm Nomad August 2, 2022 Crypto firm Nomad had $190m (£155.5m) in crypto stolen from it in a heist today. Hackers targeted Nomad’s “bridge” which allows crypto transfers between blockchains and stole £155.5m worth of users’ cryptocurrencies, crypto analytics firm PeckShield said, according to Reuters. Nomad tweeted it was “aware of the incident involving the Nomad token bridge” and that [...]
Man Group shares dive as choppy markets spark fall in assets under management August 2, 2022 Shares in fund management giant Man Group plunged nearly six per cent this morning after it reported a dip in its assets under management and warned that market turbulence may lead to volatile flows in the months ahead.
Six charts that show why high food prices aren’t going away August 2, 2022 Russia’s invasion of Ukraine prompted a sharp jump in the price of some food commodities and the impact looks set to be long-lasting. Price moves for some agricultural commodities have been dramatic since Russia invaded Ukraine at the end of February. The chart below shows how prices have jumped, with wheat gaining most. We believe [...]