Crypto firms will need ‘sterile corridors’ on our watch, FCA warns Crypto clampdown The UK’s financial watchdog said today it will ensure crypto firms have “sterile corridors” between the different products and services they offer, as it assesses the wreckage of collapsed exchange FTX and prepares to bring the sector into its remit.
Moneyfarm strikes deal to fully-acquire digital advice platform Profile Pensions Pensions Online investment adviser Moneyfarm has agreed to fully acquire digital pensions planner Profile Pensions as it pushes forwards with efforts to expand its client base and services offerings. The cash-and-shares deal for an undisclosed sum will see Moneyfarm’s shareholders finance a 100 per cent takeover of the Preston headquartered pension adviser, as it seeks to [...]
Curve strikes $1bn deal with Credit Suisse to fund pay-later push BNPL Fintech payments firm Curve said it had struck a $1bn deal with Swiss lender Credit Suisse today to fund a growth push for its buy-now pay-later product, Flex.
Exclusive: Why Brexit and the pandemic propelled the rise of the chief innovation officer December 6, 2022 More and more UK businesses are making innovation a priority. The conviction is growing that tech and the implementation of innovative solutions drive business growth and help firms to stay ahead of the competition. It is therefore no surprise that the chief innovation officer takes an increasingly prominent position within many businesses. Brexit and the [...]
Exclusive: Average start-up loan shrinks to just £142k while volumes drop by half December 6, 2022 The average start-up loan has fallen over 138 percent in the past year to just over £142k, from £339k in 2021., according to new data shared exclusively with City A.M. today. Moreover, the number of startup loans has more than halved compared to 2019. The findings by Purbeck Personal Guarantee Insurance follow a recent British [...]
Bob Diamond’s acquistion vehicle abandons merger with crypto firm Circle December 5, 2022 Bob Diamond’s acquisition vehicle has scrapped a deal to take cryptocurrency firm Circle public today as the sector is rocked by the collapse of crypto exchange FTX and a slump in prices.
Bitcoin could tumble to £4,100 next year, analysts warn December 5, 2022 Bitcoin could plunge by a further 70 per cent next year as investors scramble for safe havens like gold amid continued turmoil on the markets, analysts have warned.
Allica Bank bags £100m cash injection after swing into profit December 5, 2022 Digital lender Allica said it had bagged a £100m cash injection today as it looks to guzzle up more of the UK’s small business banking market.
Bankman-Fried admits meetings on Alameda’s finances prior to FTX collapse December 4, 2022 Sam Bankman-Fried has admitted he had more knowledge of the financial health of FTX’s sister trading Alameda Research than previously suggested, as the extent of the ties between the two collapsed firms emerges.
FTX collapse shows need for venture capital ‘correction’, says investment chief December 4, 2022 The collapse of FTX has underscored a “distortion” in the venture capital market and the need for a correction across the industry, the boss of a global investment body has said.