Why Is Rachel Conlan Leaving Binance? Rachel Conlan, Binance’s chief marketing officer, will leave the crypto exchange on June 15 after roughly 3 years helping expand the company’s global brand presence. Former Trust Wallet CEO Eowyn Chen will serve as interim CMO, while Conlan remains as an adviser during the transition period, according to Binance. “Serving as CMO of Binance has been the privilege of my career,” Conlan said in an email. “I'm deeply grateful to Yi He, Richard Teng and the entire leadership team for the trust they placed in me, and to every member of the team I've had the honour of working with.” Conlan joined Binance after serving as global head of brand and partnerships at rival exchange OKX. During her tenure, Binance continued expanding its global sponsorship and consumer branding efforts, including partnerships tied to sports, entertainment, and social media personalities. How Important Was Branding to Binance’s Growth Strategy? Binance, like several large crypto exchanges, invested heavily in mainstream visibility during the industry’s expansion cycle. The company secured partnerships with football star Cristiano Ronaldo, singer The Weeknd, Formula One’s Alpine team, and creator Khaby Lame. Conlan was also associated with some of Binance’s more unconventional campaigns, including the launch of “Crypto,” also known as “Eau de Binance,” a perfume introduced during International Women’s Day in 2024. These campaigns reflected a broader industry strategy aimed at pushing crypto brands into mainstream consumer culture rather than limiting outreach to native crypto audiences. Investor Takeaway Crypto exchanges spent aggressively on branding during the market expansion phase, but marketing budgets are becoming more disciplined as trading activity and industry sentiment weaken. Is the Crypto Industry Pulling Back on Marketing Spending? Conlan’s departure comes amid broader changes across crypto marketing departments. Several major firms have reduced sponsorship activity or seen senior marketing executives exit as the industry reassesses spending priorities. Crypto.com recently confirmed that its CMO, Steven Kalifowitz, is leaving the company. The exchange became known for large-scale branding campaigns, including naming rights for the former Staples Center, advertising featuring Matt Damon, and sponsorship agreements across Formula One and UFC. At the same time, Bybit CEO Ben Zhou said the exchange would not renew its Formula One sponsorship and is evaluating partnerships with stronger commercial returns. The retrenchment reflects changing market conditions. During bull-market periods, exchanges competed for user growth through large sponsorship deals and mass-market campaigns. As trading volumes and speculative activity cool, firms appear increasingly focused on efficiency and measurable customer acquisition. Investor Takeaway The industry’s marketing pullback suggests crypto firms are transitioning from growth-at-all-costs strategies toward tighter operational discipline. Sponsorship spending is becoming harder to justify without direct revenue impact. What Does the Leadership Change Mean for Binance? Binance remains the world’s largest crypto exchange by trading volume, but leadership transitions continue as the company adapts to tighter regulatory oversight and changing market conditions. The appointment of Eowyn Chen as interim CMO keeps the role within Binance’s broader ecosystem, given her previous leadership at Trust Wallet. The arrangement also allows continuity while the company reassesses long-term branding priorities. Marketing remains strategically important for exchanges competing across retail trading, payments, custody, and institutional products. However, the next phase of competition may rely less on headline sponsorships and more on product depth, regulatory positioning, and operational trust.

The Commodity Futures Trading Commission today filed an amicus brief in the U.S. Court of Appeals for the Sixth Circuit asserting the CFTC’s exclusive jurisdiction over prediction markets. The brief was filed in KalshiEx LLC v. Matthew T. Schuler, et al., No. 26-3196. The filing represents another step in the CFTC’s broader effort to protect its jurisdiction over prediction markets from an ongoing campaign of state encroachment. The amicus brief outlines the comprehensive regulatory scheme designed by Congress, which is implemented by the CFTC, and details how that comprehensive regulatory structure preempts state laws as applied to CFTC-regulated markets.  “The federal district court in Ohio took an improperly narrow view of the Commission’s jurisdiction, and we are asking the Court of Appeals to correct that error,” said CFTC Chairman Michael S. Selig. “As I’ve said repeatedly, the CFTC will not allow overzealous state governments to undermine the agency’s longstanding authority over these markets.” The CFTC has previously filed lawsuits against Arizona, Connecticut, Illinois, New York, and Wisconsin, and secured a preliminary injunction against state regulation of CFTC-regulated prediction markets in Arizona. The CFTC has also filed amicus briefs in the U.S. Court of Appeals for the Ninth Circuit and the Supreme Judicial Court of Massachusetts. RELATED LINKS Amicus Brief

BIFCI is described as a not-for-profit industry association representing licensed Forex and CFD firms operating in The Bahamas. The post Bahamas Institute of Forex and CFD Issuers launched by Pepperstone, Capital.com, and Trade Nation appeared first on FX News Group.

Brent crude oil be expected to rise to the next round resistance level 112.80 (which has been reversing the price from the start of march). Brent crude oil reversed from support area Likely to rise to resistance level 112.80 Brent crude oil recently reversed from the support area between the pivotal support level 95.000 (which also reversed the price in the middle of March, as can be seen from the daily Brent crude oil chart below), 20-day moving average and the 61.8% Fibonacci correction of the previous sharp upward impulse 1 from the middle of April. The upward reversal from this support area started the active short-term impulse wave 3 –which is itself a part of the intermediate impulse wave (5) from the middle of April. Given the overdoing daily uptrend and the worsening of the prospects of the Iran-USA peace talks, Brent crude oil be expected to rise to the next round resistance level 112.80 (which has been reversing the price from the start of march). [caption id="attachment_213720" align="alignnone" width="800"] Brent Crude Oil[/caption] The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff. The information does not constitute advice or a recommendation on any course of action and does not take into account your personal circumstances, financial situation, or individual needs. We strongly recommend you seek independent professional advice or conduct your own independent research before acting upon any information contained in this article.

A group of forex and CFD brokers has launched a new industry body in the Bahamas, aiming to improve coordination among firms and strengthen engagement with regulators in a growing offshore market.Singapore Summit: Meet the largest APAC brokers you know (and those you still don't!)Trying to “Institutionalise” the Bahamas?The Bahamas Institute of Forex and CFD Issuers (BIFCI) has been established by Pepperstone, Capital.com, and Trade Nation. According to Tamas Szabo, the Group CEO of Pepperstone, the initiative has been under development since April 2023 and is now operational.Szabo said that the idea emerged from shared challenges across licensed firms in the jurisdiction. These include regulatory expectations, capital requirements, and market conduct standards.“We have been working on developing this Bahamas industry body www.bifci.com since April 2023 and now it has finally come to fruition. Looking forward to working with other industry participants and if you are already in the Bahamas or looking at the Bahamas as a jurisdiction of choice please feel free to reach out.”The latest development can be seen as a case of three onshore‑regulated heavyweights trying to “institutionalise” the Bahamas. Pepperstone, Capital.com and Trade Nation already answer to the FCA, ASIC and CySEC, yet they’re now importing that governance mindset offshore by creating a formal trade body around their SCB‑licensed entities.There are strong industry bodies in big hubs, for example, trade associations and working groups in the UK, EU and Australia that interface with the FCA, ESMA or ASIC. However, those are onshore markets where the political economy has long supported such structures.IC Markets, FxPro and Eightcap MissingAlthough BIFCI has opened membership to all licensed brokers, the most interesting part is who is missing. Some of the largest SCB‑licensed brokers in the Bahamas, including IC Markets, FxPro, Eightcap, ActivTrades and Infinox, are not in the founding trio. This raises questions about whether they declined to join or were never approached.“All these firms were invited and I have spoken with all of them in quite a bit of detail. No one has declined and many of them are keen and we have been on a number of meetings together. I just think it is going to take a bit of time to formally expand the membership base. But informally, there are a lot more firms involved,” Szabo exclusively told Finance Magnates.“One thing I think is important to make clear is that we are not excluding anyone from joining, it’s about building a better and stronger base in the Bahamas which benefits everyone, we really do put any competitive pressures aside.”Continue reading: Pepperstone UK Profit Jumps 81% to £18 Million in FY25Generally, the FX and CFD industry in the Bahamas has shifted from a light‑touch offshore hub to a costlier but more structured jurisdiction, with tighter rules and a growing cluster of internationally regulated brokers. The Securities Commission of The Bahamas oversees forex and CFD brokers under a regime that has tightened significantly since 2020. The Securities Industry (Contracts For Differences) Rules 2020, which came into force in May 2021, introduced leverage caps of up to 200:1 for retail, a ban on binary options, negative balance protection and stricter marketing limits, including curbs on cold calling and aggressive acquisition tactics.Unusual for Offshore JurisdictionsUnlike most offshore centres, where brokers typically operate independently under local rules, this move brings together three multi‑jurisdiction brokers to create a formal, broker‑led association, making the development a notable outlier among rival offshore hubs.This structure gives Bahamas‑licensed brokers a collective platform that does not really exist in comparable jurisdictions such as Seychelles, Belize or Vanuatu, where regulators and broad business chambers usually dominate the conversation rather than product‑specific industry bodies.BIFCI is a small structural change with a big signal: three multi‑licensed brokers are trying to give an offshore booking center onshore‑style industry plumbing, which suggests that “offshore” is being slowly institutionalized rather than quietly ring‑fenced. What to watch now is whether the Securities Commission of The Bahamas chooses to formally recognize or actively use the Institute as a consultative counterparty, whether large absentees such as IC Markets and FxPro decide to join, and whether other booking hubs like Seychelles or Vanuatu feel compelled to copy the trade‑body model. This article was written by Jared Kirui at www.financemagnates.com.

FinTelegram’s investigation has moved beyond the KXTRA investment scam. A new OpenPayd GDPR response confirms that victim deposits were routed through named virtual IBANs linked to Klickl Europe’s corporate account. One victim file concerns KXTRA / KKR Global Investment; another concerns fake Peel Hunt / Peelhuntaicore. Different scam brands, same suspected rail: OpenPayd vIBAN infrastructure feeding Klickl Europe. 2-Minute Briefing FinTelegram’s OpenPayd–Klickl investigation has materially expanded. We are no longer looking only at the KXTRA / KKR Global Investment scam. New victim communication and OpenPayd GDPR material show that the same OpenPayd/Klickl Europe payment architecture also appears in a fake Peel Hunt / Peelhuntaicore investment scam. This changes the case. A single scam frontend can be dismissed by payment processors as “merchant abuse.” Multiple fake investment frontends using the same underlying payment structure point to something more serious: a repeatable fraud-collection rail. OpenPayd’s GDPR response confirms the mechanics. OpenPayd states that it provides services only to corporate clients, not individuals, and identifies Klickl Europe as the relevant corporate client. It says the victim-facing IBAN was not a standard IBAN, but a named virtual IBAN linked to Klickl Europe’s corporate payment account. It further states that funds sent to that vIBAN were received into Klickl Europe’s corporate payment account and, once credited, became the property of Klickl Europe. That confirms the core FinTelegram thesis: OpenPayd provided the vIBAN collection infrastructure; Klickl Europe was the corporate account holder and recipient of the victim funds. The new case is not KXTRA. The victim’s correspondence to OpenPayd was explicitly titled “Fraud via Peel Hunt / Peelhuntaicore.” In that message, she told OpenPayd that she had become a victim of investment fraud and demanded the return of the transfers. That aligns with Peel Hunt’s own public fraud warning. The legitimate Peel Hunt states that it does not use WhatsApp, LinkedIn, downloadable applications or social-media channels for regulated investment activities, and it specifically identifies PEELHUNTAICORE as an app not associated with Peel Hunt. The picture is now clearer: KXTRA / KKR Global Investment appears to be one fake investment frontend. Peel Hunt / Peelhuntaicore appears to be another. OpenPayd → Klickl Europe appears to be the common payment rail. What OpenPayd Confirmed OpenPayd’s GDPR response is the strongest document so far because it confirms the architecture from inside the payment provider’s own system. 1. OpenPayd’s client was Klickl Europe — not the victim OpenPayd states that it only provides services to corporate clients and has no direct contractual relationship with individuals. It identifies the relevant OpenPayd client as Klickl Europe. 2. The IBAN was a named vIBAN, not a real personal account OpenPayd states that the assigned IBAN was “not a standard IBAN,” but a named virtual IBAN linked to a main corporate account. It says the specific virtual IBAN was linked to the payment account belonging to Klickl Europe. 3. Klickl Europe provided victim data OpenPayd says it received personal data from the sending bank and from Klickl Europe. From Klickl Europe, OpenPayd received the victim’s name, address and date of birth. It also states that the victim was onboarded onto the Klickl Europe platform and that a virtual IBAN was allocated in her name to receive payments made on her behalf to fund Klickl Europe’s account. 4. The funds became Klickl Europe’s property OpenPayd states that the funds sent to the vIBAN were received into Klickl Europe’s corporate payment account and, once credited, became the property of Klickl Europe. This is the key line. It places Klickl Europe squarely at the economic center of the victim-fund flow. Read our OpenPayd reports here What Is A vIBAN? A virtual IBAN, or vIBAN, is a payment identifier that looks like a normal IBAN but is not a standalone bank account. It is usually linked to a master account or corporate payment account. The corporate client uses the vIBAN to identify who sent a payment and to reconcile incoming funds quickly. In this case, the practical effect was: Victim sees a named IBAN → victim believes the payment is personalized → money is credited to Klickl Europe’s corporate account → Klickl reconciles the deposit internally A vIBAN is therefore powerful in fraud cases because it can create a false sense of safety. The payer sees a name-linked IBAN and may believe they are funding “their own” account. In reality, the money can be routed into the corporate account of the platform client. That is the vIBAN trap. Scam Frontends Now Identified Scam FrontendImpersonated / Claimed BrandVictim-Acquisition PatternPayment Rail IdentifiedCurrent Evidence StatusKXTRA / KKR Global InvestmentKKR-style IPO / private-equity investment narrativeFacebook advertising, WhatsApp grooming, fake advisers, KXTRA app, fake profits, blocked withdrawalsVictim transfers to OpenPayd Malta; Klickl Europe identified in payment structureAustrian criminal complaint reviewed by FinTelegram. The complaint lists OpenPayd Malta payments and names Klickl Europe in the payment-provider section.Peel Hunt / PeelhuntaicoreImpersonation of legitimate UK investment bank Peel HuntWhatsApp investment groups, fake app, alleged trading/investment activity, blocked access to fundsOpenPayd GDPR response confirms named vIBAN linked to Klickl Europe corporate accountOpenPayd GDPR response reviewed by FinTelegram; victim’s earlier email to OpenPayd was titled “Fraud via Peel Hunt / Peelhuntaicore.” Legitimate Peel Hunt publicly warns that PEELHUNTAICORE is not associated with Peel Hunt. Read our Klickl Europe reports here. Payment Rail System — OpenPayd And Klickl Europe LayerEntity / MechanismRole In The RailWhat The Evidence ShowsFraud frontendKXTRA / PeelhuntaicoreFake investment apps and interfaces used to lure victimsVictim files now point to at least two different scam brands using the same OpenPayd/Klickl payment architecture.Recruitment layerFacebook / WhatsApp groups / fake advisersVictim acquisition and psychological groomingBoth fraud types follow the social-media and WhatsApp investment-scam model.Payment infrastructure providerOpenPayd Financial Services MaltaProvides payment infrastructure and named vIBANs to corporate clientsOpenPayd confirms it provides services to corporate clients and does not provide direct services to individuals.OpenPayd clientKlickl EuropeCorporate client and account holderOpenPayd identifies Klickl Europe as its corporate client in the GDPR response.Victim-facing identifierNamed virtual IBANPersonalized payment identifier used to reconcile victim depositsOpenPayd states the IBAN was not a standard IBAN but a named vIBAN linked to Klickl Europe’s payment account.Economic recipientKlickl Europe corporate payment accountReceives the credited victim fundsOpenPayd states that funds sent to the vIBAN were received into Klickl Europe’s corporate payment account and became Klickl Europe’s property once credited.Data sourceKlickl EuropeProvides victim data to OpenPaydOpenPayd states it received the victim’s name, address and date of birth from Klickl Europe.Infrastructure providersProbanx / Bank of LithuaniaProcessing infrastructureOpenPayd says payments were processed through its infrastructure banking providers, including Probanx and the Bank of Lithuania.Downstream layerKlickl platform / wallets / exchanges / operatorsUnknown onward use, conversion, transfer or settlementOpenPayd says subsequent transfers, conversions or investments are outside its control and should be addressed to Klickl Europe. Revised Rail Map Common Collection Rail Victim → OpenPayd named vIBAN → Klickl Europe corporate payment account → Klickl platform credit / transfer / conversion / settlement → unknown downstream recipient Scam Frontend Variants KXTRA / KKR Global Investment → OpenPayd/Klickl vIBAN rail Peel Hunt / Peelhuntaicore → OpenPayd/Klickl vIBAN rail The frontends differ. The rail appears to be the same. Why The Peel Hunt / Peelhuntaicore Case Matters The legitimate Peel Hunt is a respected UK investment banking firm (website) specializing in mid and small-cap companies, listed on the London Stock Exchange, with offices at 100 Liverpool Street, London. The fraudulent Peel Hunt scam and the “PEELHUNTAICORE” and “PHFINCORE” apps have no connection to this licensed financial institution. The Peel Hunt / Peelhuntaicore evidence changes the risk assessment. If this were only KXTRA, OpenPayd and Klickl might attempt to frame the matter as an isolated merchant abuse case. But the Peelhuntaicore evidence indicates a second investment-fraud frontend feeding the same Klickl-linked vIBAN architecture. That points to a repeatable collection system. It also puts Klickl Europe under even more pressure. If Klickl Europe received victim funds from different scam fronts, it must explain whether the same customer, wallet, merchant, exchange account, OTC desk or internal ledger was behind these flows. The key question is no longer: Was Klickl accidentally exposed to one scam? The key question is: How did multiple fake investment scams end up funding Klickl Europe’s corporate account through OpenPayd vIBANs? FinTelegram Assessment FinTelegram’s assessment is that Klickl Europe must be treated as a central evidence holder and potential fraud-rail participant. There are three possible scenarios: ScenarioInterpretationWhat Klickl Must ProduceKlickl was only an on-rampKlickl processed funds for fraud operators without operating the scam frontendCustomer identity, wallet addresses, exchange accounts, conversion records, SAR/STR filings, termination recordsKlickl was a settlement intermediaryKlickl received funds and moved them onward for another processor, merchant or platformFull counterparty chain, settlement instructions, ledger entries, contractsKlickl was closer to the fraud operatorsKlickl or related parties had operational knowledge of the scam networkInternal communications, onboarding files, platform links, beneficial-owner and transaction-control records Even the most favorable scenario for Klickl — “only an on-ramp” — still leaves Klickl with the critical data. If it received the funds, it should know where they went. That data belongs in the hands of victims, law enforcement and regulators. Call For Victims And Whistleblowers FinTelegram is now collecting additional evidence on the broader OpenPayd / Klickl Europe vIBAN fraud rail. We are especially interested in victims of: KXTRA KKR Global Investment Peelhuntaicore fake Peel Hunt / Peel Hunt Europe WhatsApp groups any other investment app or WhatsApp group where deposits were made to an OpenPayd / CFTE / Malta IBAN any payment file showing Klickl Europe any DSAR / GDPR response from OpenPayd any transaction reference such as “Sweep to Primary Account” Victims should send: OpenPayd GDPR / DSAR responses; Summary of payments spreadsheets; assigned vIBANs; payment receipts; app screenshots; WhatsApp group screenshots; names and phone numbers of “advisers”; police reports; regulator complaints; crypto wallet addresses or transaction hashes; responses or non-responses from Klickl Europe. If one victim collects documents for others, each victim should preferably give written consent or submit their own file directly via Whistle42. Conclusion This investigation is no longer about one fake app. KXTRA was one frontend.Peelhuntaicore was another.The common denominator appears to be the OpenPayd/Klickl Europe vIBAN rail. OpenPayd has now confirmed that the victim-facing IBAN was a named virtual IBAN linked to Klickl Europe’s corporate payment account. OpenPayd has also confirmed that funds credited through that vIBAN became the property of Klickl Europe. That places Klickl at the center of the evidence. If Klickl was merely the on-ramp, it must disclose the downstream data.If Klickl was closer to the operators, regulators and law enforcement must act.If OpenPayd enabled a repeatable vIBAN structure for multiple scam frontends, it must explain how that happened under its transaction-monitoring and financial-crime controls. The victims want the data. FinTelegram will keep following the rail. Share Information via Whistle42

Robert Pemble has been named head of US equity trading at Invesco, stepping up to the role after 22 years at the asset manager.  He initially joined the firm in 2004 as a senior equity trader, working for Oppenheimer Funds before the company was acquired by Invesco in 2019. The new position marks a promotion for New York-based Pemble, who most recently spent two years as head of quantitative equity trading at the firm. Pemble has worked extensively across capital markets for more than two decades, and prior to his time at Invesco, held various equity trading roles at firms spanning Caldwell & Orkin Funds, Bulldog Capital, Hovde Capital Advisors and William R. Hough & Co.  Pemble confirmed his appointment in an announcement on social media.  Invesco had not responded to a request for comment at the time of publication.  The appointment follows further significant senior promotions for Invesco, with Samuel Henderson stepping into the role of head of EMEA equity trading in January 2026.  Henderson’s promotion followed the departure of the firm’s head of trading – EMEA and APAC equities, Paul Squires in November 2025, as revealed by The TRADE at the time.  The post Invesco promotes internally for new US equity trading head appeared first on The TRADE.