A federal court in Alabama has dismissed key parts of a lawsuit accusing Binance, its US affiliate Binance.US, and former CEO Changpeng Zhao of facilitating transfers of cryptocurrency to terrorist groups.Victims of the October 7 attacks had filed the complaint in February 2024. The plaintiffs alleged that the companies and Zhao enabled payments linked to Hamas through the exchange. They argued that the defendants “violated, and may be continuing to violate, the Anti-Terrorism Act” by allowing funds to move through the platform.Alabama Court Partially Dismisses Binance LawsuitIn an order, Chad Bryan granted a motion filed by Zhao to dismiss significant portions of the complaint. However, the judge did not close the case entirely. He ordered the plaintiffs to file a second amended complaint by April 10 or risk “the prospect of a total or partial dismissal.”Bryan noted that the claims carried serious implications and required stronger legal arguments to proceed. “The underlying harm here is serious,” he said, adding that the allegations and potential liability were also “serious.” He wrote that the complaint must show a “commensurate level of seriousness before the action will be permitted to proceed.”Following the decision, Binance said the ruling represented a “full and complete legal victory.”?JUST IN: BINANCE SECURES SECOND U.S. FEDERAL COURT VICTORY WITH ANTI-TERRORISM CLAIMS DISMISSED@Binance Chief Legal Officer, @EleanorsHughes1, has announced a second consecutive U.S. federal court victory, with an Alabama court issuing a detailed 19-page ruling dismissing… pic.twitter.com/k2mV7kdiqI— BSCN (@BSCNews) March 12, 2026New York Court Dismisses Claims, Binance Faces Iran ScrutinyLast week, the US District Court for the Southern District of New York dismissed claims against Binance for “lack of personal jurisdiction.” Judge Jeannette Vargas noted, however, that similar allegations had survived dismissal in another case in the district. Binance general counsel Eleanor Hughes said that “sanctions compliance and terrorism financing are serious matters of law,” and courts had examined the claims twice and found them “without merit.” Judge Vargas added that the case remains active and the court retains authority to ensure parties comply with evidence preservation rules. Separately, media reports allege Binance processed over $1 billion in transactions linked to Iran, prompting Senate inquiries. Binance denies the claims and has filed a defamation suit against The Wall Street Journal over its reporting on a Justice Department probe. This article was written by Tareq Sikder at www.financemagnates.com.

Thailand’s Securities and Exchange Commission (SEC) has confirmed that legal action against cryptocurrency promoter Worawat Narknawdee, also known as “Acme Traderist,” is ongoing, Bangkok Post reported. The statement followed renewed public attention after more than 30 alleged victims filed new complaints against him this week.Complaint Filed With Economic Crime DivisionDeputy Secretary-General Anek Yooyuen said the SEC filed a criminal complaint in March 2023 against Mr. Worawat and 1000X Limited, the company operating the website 1000x.live. The pair are accused of running a digital asset trading business without authorization.The case resurfaced publicly early this week, when the alleged victims went to the Central Investigation Bureau to file new complaints over investments linked to the 1000X platform. This prompted renewed media and social media scrutiny and leading the SEC to restate that it had already lodged a criminal complaint against Narknawdee and 1000X Limited back in 2023 and that the matter now sits with public prosecutors.Read more: Thailand Joins Countries That Exempt Crypto Capital Gains Tax, but Only for 5 YearsVictims claim they were persuaded to invest through the platform, with estimated damages totaling 1.39 billion baht. Police believe Mr. Worawat may have left Thailand and travelled to the United Arab Emirates, where he reportedly has other business interests.SEC Moves to Protect InvestorsTo prevent further losses, the SEC said it requested the Digital Economy and Society Ministry last June to block access to the platform. The regulator also urged the public to verify whether a digital asset business is properly licensed before investing.Thailand’s SEC has brought several similar actions against unlicensed or improperly operating crypto businesses and promoters in the past year. For example, it moved to block access to five unlicensed exchanges including Bybit, CoinEx, OKX, XT.com and 1000X from June last year, after finding they served Thai users without licenses and referred those cases to the Economic Crime Suppression Division. In January, the SEC also filed criminal complaints against individuals allegedly offering Worldcoin trading services and separate complaints over unauthorized over-the-counter crypto dealing, again citing violations of the Digital Asset Business law. More recently, in February, the regulator lodged a complaint against a licensed local broker, its overseas platform and executives for allegedly operating an unlicensed exchange targeting Thai customers, underscoring a broader clampdown on cross-border and unlicensed activity. This article was written by Jared Kirui at www.financemagnates.com.

New research from LMAX Group and Macro Hive shows that London leads global FX price discovery by milliseconds, while Tokyo provides deeper and cheaper liquidity during major Japan-focused events.London prices move first even when the news comes from Japan. For both USD/JPY and EUR/USD, prices on the London venue reacted between roughly 20 and 100 milliseconds before Tokyo during the two events.Price discovery is how the market decides the current price of an asset through trading. The study used millisecond-level data from LMAX’s London and Tokyo venues around a Bank of Japan rate hike in July 2024 and a surprise Japan CPI release in February 2025.Tokyo Stays Tighter in StressAt the same time, Tokyo emerges as the venue where size actually trades. During the BoJ decision, the study identified more than 21,000 outlier trades, defined as unusually large tickets. Around 88% of those trades executed in Tokyo.In the top 1% of trade sizes, Tokyo handled 100% of activity, while London saw no large block trades. A similar pattern appeared around the Japan CPI release, with Tokyo again executing all of the largest orders.For the FX and CFD trading space, it means brokers, LPs and larger traders should treat London as the main price signal. They should route more flow to Tokyo during Japan-focused events to cut execution costs and access deeper liquidity.You may also find interesting: Chinese Fraud Victims Contest UK Compensation Plan for £3.2B Seized Bitcoins: ReportExecution costs diverged sharply when volatility spiked. Around the February 2025 CPI release, average USD/JPY spreads on the London venue widened to about 6.4 pips. In Tokyo, spreads stayed near 1.5 pips over the same window. That translates into a spread that is roughly 77% tighter in Tokyo.Earlier work from LMAX and Macro Hive looked at how FXmarkets react to big macro events like Fed meetings, US inflation data and jobs reports using very fast tick data. It showed that most of the price move in major pairs happens in the first few seconds after the news, and that traders who track those millisecond changes can capture almost all of that move. NDFs React Almost as Fast as MajorsThis suggests that Korean won and Indian rupee NDFs now respond to macro shocks with speeds close to major FX pairs on the same venue.Overall, the findings draw a clear line between where prices move first and where large, real-money orders find depth. London drives ultra-fast price discovery in the FX market, but Tokyo offers more resilient liquidity and lower spreads when local Japanese events trigger volatility.A separate report supports LMAX findings.It stressed that latency between traders and brokers is no longer a niche technical issue but a direct driver of execution quality, slippage and missed fills, especially in fast FX markets where prices change thousands of times per second. It explained that even differences of a few tens of milliseconds can turn planned entries and exits into worse prices, with case-study data showing that cutting connection times from around 75 milliseconds to under 1 millisecond reduced average slippage by about 1.7 pips over 120 trades, saving an active trader roughly $20,000 per year at standard volumes. This article was written by Jared Kirui at www.financemagnates.com.

The Commodity Futures Trading Commission has issued an Advanced Notice of Proposed Rulemaking seeking public comment on whether new regulations or amendments are needed for event contracts traded on prediction markets.The consultation examines how these contracts should be treated under the Commodity Exchange Act and related commission regulations.The consultation follows the CFTC’s withdrawal of a 2024 proposal to ban political and sports‑related prediction markets. Chair Michael S. Selig said the prior advisory “contributed to uncertainty” and would be rolled back. The action coincides with a joint crypto rulemaking effort with the SEC.CFTC Begins Review of Prediction MarketsIn a statement, Selig described the move as the start of a formal review process. He said the action is “an important step” in the commission’s effort to promote “responsible innovation in our derivatives markets.” Selig added that the initiative begins rulemaking “grounded in a rational and coherent interpretation of the Commodity Exchange Act” and should reassure the public that the CFTC “will exercise its exclusive jurisdiction over prediction markets.”Prediction markets allow participants to trade contracts linked to the outcome of future events. The CFTC said the notice asks questions about how statutory core principles and existing regulations apply to these products.The agency is also seeking views on which types of event contracts could be prohibited as contrary to the public interest. It requested input on cost-benefit considerations related to prediction markets and other regulatory issues.Division of Market Oversight Issues Advisory to ExchangesSeparately, the CFTC’s Division of Market Oversight issued an advisory addressing the listing of event contracts on exchanges. The division said the notice responds to the “rapid rise in popularity of prediction markets” and aims to encourage “growth and innovation” while reminding exchanges of their regulatory responsibilities.The advisory highlights obligations for designated contract markets under the Commodity Exchange Act and commission rules. The division also discussed issues that may apply to sports-related event contracts. It said exchanges, acting as “front-line regulators,” should take proactive steps to ensure their markets develop in compliance with the law and commission regulations.Consultation Process and Comment DeadlineThe CFTC said the information gathered through the consultation could inform possible future actions, including a formal rulemaking process concerning prediction markets.Public comments must be submitted in writing within 45 days after the notice is published in the Federal Register. Submissions can be made through the CFTC’s public comments portal. This article was written by Tareq Sikder at www.financemagnates.com.

Chinese investors defrauded in a multi-billion cryptocurrency Ponzi scheme have asked the UK High Court to reject a government-backed redress plan for the 61,000 seized Bitcoin. They argue that the proposal to route compensation through a Chinese scheme could strip them of the £3.2bn haul’s gains and leave British authorities holding much of the upside, according to the Financial Times.London police seized about 61,000 Bitcoin during an investigation into Chinese national Zhimin Qian, who ran an investment fraud between 2014 and 2017 that targeted more than 128,000 investors in China.Qian converted proceeds into Bitcoin and moved the funds to the UK, where officers later recovered the assets from electronic devices at a Hampstead property. Chinese Victims Contest UK Redress PlanQian evaded authorities for nearly five years while amassing one of the largest cryptocurrency fortunes ever seized in the UK. She was sentenced to more than 11 years in prison last November. A Chinese woman has been sentenced in the UK to more than 11 years in prison for running a $6.6 billion Bitcoin Ponzi scheme that defrauded over 128,000 people worldwide. pic.twitter.com/HRxK4J8nqN— Breaking911 (@Breaking911) November 13, 2025She reportedly converted tens of millions of pounds into Bitcoin and entered Britain on a false passport to live in luxury rented properties with accomplices. Bitcoin’s price has since risen sharply since the fraud took place, lifting the value of the seized stash to around £3.2bn at current levels of roughly £52,300 per coin.Victims are now using section 281 of the Proceeds of Crime Act to seek recovery of the assets through the English courts rather than through an out-of-court scheme proposed by UK authorities. Under that plan, compensation funds would be sent to China and distributed via an existing redress mechanism there, while the UK would likely retain a significant share of the remaining Bitcoin.Read more: UK Court Hands Nearly 12-Year Sentence in Massive £5B Bitcoin Case: ReportLaw Firms and Prosecutors Clash over Access and FeesLaw firm Candey, which represents about 5,700 victims, told the High Court it has concerns over whether the proposed scheme would run in line with principles of fairness, warning that some clients “could stand to recover nothing without access to justice before the English courts.”The firm said its fee arrangements, which cap total charges for UK and China legal teams at 18% of any sums recovered, allow victims without resources to pursue claims while keeping the “vast majority” of any recovery.A preliminary High Court hearing in July will decide whether English or Chinese law governs the victims’ claims to the seized Bitcoin, with a 22 May deadline set for section 281 applications. This article was written by Jared Kirui at www.financemagnates.com.

Investors have filed a proposed class action against JPMorgan in the US District Court for the Northern District of California, alleging the bank enabled a $328 million cryptocurrency Ponzi scheme run by the now-defunct Goliath Ventures.The lawsuit claims JPMorgan ignored suspicious transactions and allowed Goliath to use its banking infrastructure to collect investor funds, Cointelegraph reported. [#highlighted-links#] According to the complaint: “Chase, by virtue of its Know Your Customer procedures, actually knew that Goliath was acting as a ‘private equity’ cryptocurrency pool operator investing money for investors, without being licensed at all to sell these investments.”Goliath Crypto Scheme Routed Through BanksFrom January 2023 through May or June 2025, JPMorgan served as Goliath’s sole banking institution. Roughly $253 million of investor funds—about two-thirds of the total raised—was deposited into JPMorgan’s 0305 account, with around $123 million subsequently transferred to Goliath-controlled wallets at Coinbase. Goliath also held business accounts at Bank of America, where CEO Christopher Delgado was a co-signatory, and investor funds were occasionally routed there as well.?UPDATE: JPMORGAN SUED FOR ALLEGEDLY ENABLING $328M CRYPTO PONZI SCHEMEInvestors have filed a lawsuit accusing JPMorgan of facilitating a $328 million crypto Ponzi scheme tied to Goliath Venture. The suit alleges the bank processed fraudulent transactions and failed to flag… pic.twitter.com/cwvIj3TYAG— BSCN (@BSCNews) March 12, 2026Goliath CEO Arrested, Investors File LawsuitA separate criminal complaint from the US Attorney’s Office for the Middle District of Florida states that Delgado, who previously ran Goliath under the name Gen-Z Venture Firm, was arrested earlier. Prosecutors said the scheme operated from January 2023 through January 2026. Delgado faces up to 30 years in federal prison if convicted.The class action was filed by Shaw Lewenz, Sonn Law Group, and Schwartzbaum. The first plaintiff, Robby Alan Steele, said he invested $650,000, including retirement funds. Jordan Shaw of Shaw Lewenz said additional complaints are expected as the team continues identifying victims.Crypto Fraud Concerns PersistThe JPMorgan case highlights concern over cryptocurrency fraud in the United States. A recent survey by verification firm Sumsub found that roughly one in three Americans have experienced or know someone affected by crypto-related scams. Common schemes include Ponzi structures, social engineering, phishing, impersonation, and wallet exploitation. Synthetic identity and deepfake-related fraud have also risen sharply.Trust in crypto platforms remains lower than traditional financial services, and most respondents support stronger regulation to improve consumer protection. This article was written by Tareq Sikder at www.financemagnates.com.

The Finance Magnates newsroom comprises experienced financial journalists covering the global trading, fintech, payments, and crypto industries. Our team reports on companies, regulations, leadership moves, and market structure with a strong focus on accuracy and transparency.Yam Yehoshua | Editor-in-ChiefYam serves as Editor-in-Chief, overseeing coverage of the global online trading, fintech, and digital assets industries. He guides the newsroom’s editorial priorities, shaping how developments are reported and contextualized for industry professionals.Under his editorial leadership, our outlet focuses on the structural forces shaping brokers, trading platforms, and market infrastructure - including regulatory enforcement, licensing strategy, consolidation trends, and the evolution of CFD and crypto business models. The emphasis remains on clarity, financial precision, and relevance to decision-makers.Learn MoreDamian Chmiel | Senior Analyst & EditorDamian Chmiel is a Senior Analyst & Editor at Finance Magnates with more than 15 years of experience in the CFD and online trading industry. He holds an MA in finance and accounting from Cracow University of Economics. Active as both a trader and journalist since 2010, he specializes in broker coverage, fintech innovation, and regulatory change across Europe, the Middle East, and Asia.Learn MoreArnab Shome | EditorArnab entered the retail trading industry about a decade ago, covering the cryptocurrency market for Finance Magnates, and later expanded his coverage to include forex and CFDs.His work at Finance Magnates includes C-suite interviews, data-driven analysis, opinion pieces, and scoops of industry exclusives. He also contributes to Finance Magnates’ Intelligence.Learn MoreAdonis Adoni | News EditorAdonis is a News Editor at Finance Magnates, with more than six years of experience covering the financial services industry, technology, and their intersection. His work includes C-suite interviews with leading technology and fintech companies across Europe, the US and Asia, exclusive coverage of M&A activity and capital raising, and data-driven industry reporting, with a strong emphasis on engagement and clear storytelling. Learn MoreJared Kirui | News EditorJared is an Editor at Finance Magnates with more than five years of experience in financial journalism. He covers online trading, fintech, payments, and crypto industries with a focus on companies, regulation and compliance, executive moves, trading technology, and market analysis.Learn MoreTareq Sikder | Financial WriteTareq is a financial writer with 15 years of experience covering global markets. His work spans technical analysis, forex broker reviews, and market sentiment, with a focus on topics relevant to retail traders. Learn MoreTanya Chepkova | News EditorTanya Chepkova is a News Editor at Finance Magnates with more than 16 years of experience in financial journalism, covering forex, crypto, and digital asset markets. Her work spans daily industry reporting and data-driven, long-form explainers focused on market structure, trading models, and regulatory shiftsLearn More This article was written by Finance Magnates Staff at www.financemagnates.com.

A new retail forex and CFD broker launched today (Thursday) under the leadership of a former senior executive at BlackBull Markets, positioning itself around zero average spreads and commission-only pricing in a market segment where cost competition is already fierce.TabTrade registered in the offshore jurisdiction of Saint Lucia, went live on MetaTrader 5 with what the company says are 0.0 pip average spreads on major currency pairs including EUR/USD, GBP/USD, and USD/JPY. The broker claims a commission-based model that keeps the cost of trading explicit rather than embedded in the spread. "Many brokers advertise spreads starting from zero," Benjamin Boulter, the Founder of TabTrade, said to FinanceMagnates.com. "TabTrade is built on a model designed to deliver zero average spreads on the most actively traded forex pairs."TabTrade is now live.A global multi-asset CFD broker built with one goal: markets made simple.- 0.0 pip average spreads- Leverage up to 1:1000- $0 minimum deposit- 1ms VPS latencyVisit our site.#MarketsMadeSimple #Forex #Trading #Cryptohttps://t.co/GPD1HfyQgW— TabTrade (@tabtradehq) March 11, 2026Pricing Transparency as the Central PitchThe broker's account structure runs across two tiers. Edge accounts target execution below 30 milliseconds, VIP accounts aim for under 20 milliseconds, according to the company. TabTrade says it connects clients to institutional liquidity through FIX API and Equinix data center infrastructure at LD4 and LD5. Leverage goes up to 1:1000 and there is no minimum deposit requirement, the firm added.Whether those specifications translate into a real-world edge over established competitors remains to be seen. The CFD industry ended 2025 with more than 6.79 million active accounts globally, up 14.6% in the final quarter, and the volume of new entrants claiming low-cost, high-speed execution has grown alongside that base. Brokers including IC Markets, Pepperstone, and FP Markets have offered similar zero-spread account structures for years, typically paired with a per-lot commission.Boulter Brings Decade of Industry ExperienceBoulter built his retail trading career at two well-known brokers before founding TabTrade. He joined Pepperstone in Melbourne in 2015, where he spent roughly four years leading partnership and growth functions, including a relaunch of the broker's global affiliate program. He moved to BlackBull Markets in late 2018 as an early shareholder, taking on a series of senior roles that culminated in chief strategy officer before his departure in September 2024 after six years.He said the timing of his exit aligned with personal circumstances, specifically the birth of his first child, and with what he described as a strong external offer for BlackBull. That period of transition prompted him to take stock of the industry's direction."It became clear to me that there was room for a new entrant, with a different approach," Boulter said. He said he reconnected with a former colleague who shared that view, and the pair began building TabTrade quietly before bringing in a broader team.His background includes hands-on experience running operations under Tier 1 regulatory frameworks. BlackBull holds licenses from the FMA in New Zealand and has operated across multiple jurisdictions. Boulter said the compliance frameworks and internal controls TabTrade will use internally reflect what his team built while managing regulated entities under ASIC, FMA, BaFin, CySEC, and the FCA.Regulatory Path Starts Offshore, Eyes ExpansionThe plans are serious, but the actual regulatory environment tells a different story. TabTrade launches under Saint Lucia registration, a rather new and rather extremely offshore location that has become increasingly popular recently among CFD brokers and prop firmsThe company acknowledges this and says it is already pursuing a license from the Financial Services Commission in Mauritius, another offshore jurisdiction, with further regulatory steps planned beyond that.The company also declares client funds are held in segregated accounts, separate from company capital.Competition Stiff as Broker Differentiation NarrowsBoulter is direct about the competitive challenge. "In many ways core product offerings have become similar among brokers," he said. "Most offer the same platforms, asset classes, pricing structures, and advertise the same benefits." His argument is that TabTrade's differentiation sits in pricing structure, team quality, and institutional-grade technology, none of which can be verified independently at launch.The broker currently runs on MetaTrader 5 and plans to add TradingView and cTrader integrations over time. It offers access to forex, indices, commodities, metals, shares, and cryptocurrencies, according to the company. The asset class coverage puts it broadly in line with larger established competitors, even if its client base and liquidity depth at launch are not comparable.With the CFD industry actively debating how brokers spend on technology and differentiate on execution quality, a new entrant making explicit cost commitments at launch faces the twin challenge of delivering on pricing claims while building the trust that larger, older brands carry by default. This article was written by Damian Chmiel at www.financemagnates.com.

New Zealand’s financial regulator has determined that the NZDD stablecoin does not qualify as a financial product. The decision follows an assessment conducted through the country’s financial technology sandbox program. Lawyers involved in the process said the ruling could help clarify how stablecoins are treated under existing laws.FMA Rules NZDD Stablecoin Not InvestmentThe determination was issued by the Financial Markets Authority. The regulator reviewed the NZDD token, which is pegged to the New Zealand dollar, as part of its sandbox pilot designed to test new financial innovations. According to the FMA, the token does not fall within the definition of a debt security.“The economic substance of the NZDD stablecoin is that it is not a debt security, as the NZDD stablecoin is not an investment, and no income, interest or other gain is paid to the NZDD stablecoin holder,” the regulator said.The NZDD token is issued by ECDD Holdings. The company was advised by the law firm MinterEllisonRuddWatts during its participation in the sandbox. The firm said the decision applies only to the specific version of NZDD examined in the notice and does not represent a general ruling on all stablecoins.Restricted Licence Supports Fintech Market Access“The designation signals a pragmatic approach by the FMA to financial innovation that is consistent with developments in comparable jurisdictions and provides a foundation from which further pathways can be developed,” the firm said.NZ's FMA expands its regulatory sandbox, supporting fintechs testing innovations like ECDD Holdings' NZD stablecoin & Homeshare's tokenized real estate. The move aims to lower barriers, boost competition & foster RWA adoption. #RealWorldAssets #Tokenization #Blockchain #Crypto…— Tokenized Finance Alert (@AboutRWAs) March 11, 2026The FMA said the decision is part of broader efforts to support fintech innovation. It plans to introduce a restricted or “on‑ramp” license for firms entering the market under controlled conditions, with limitations lifted as companies grow. “Our financial system is changing faster than ever before. This new type of licence will support firms to get access to the market with some restrictions in place that can be removed as the firm grows,” said Samantha Barrass.Crypto ATM Ban Balances Innovation EnforcementMeanwhile, New Zealand authorities have banned cryptocurrency ATMs. Officials cited concerns that the machines allowed cash to be converted into digital assets and transferred overseas, creating potential money‑laundering risks. The ban reflects efforts to balance innovation with enforcement and consumer protection. This article was written by Tareq Sikder at www.financemagnates.com.

Bitpanda reported €371 million ($430 million) in adjusted revenue for fiscal year 2025, a 16% gain from the year before, as the Vienna-based crypto broker added users and stretched its product lineup. Profitability, however, told a different story: adjusted EBITDA came in at €13 million, down from €52 million in 2024, a decline the company described as the result of deliberate investment in growth rather than any softening in the underlying business.Bitpanda’s EBITDA Drops as the Firm Invests for ScaleThe profit pullback stands in sharp contrast to 2024, when Bitpanda posted what it called its strongest financial performance to date, generating €393 million in operating revenue and pushing its EBITDA margin above 30%. For 2025, the company said it absorbed higher costs across product development, regulatory expansion, and international growth.CEO Lukas Enzersdorfer-Konrad said the firm delivered "strong top-line growth while making deliberate, strategic investments to position Bitpanda as a multi-asset investment and trading platform and an expanding market infrastructure provider."CFO Jonas Larsen added that the results demonstrated "the resilience and scalability of our business model."User Base Grows, B2B Roster Nearly DoublesRegistered users rose 25% from 5.9 million in 2024 to 7.4 million by year-end 2025, the company said. On the institutional side, Bitpanda said its active B2B partner base grew from nine to 16 financial institutions across Europe, firms that integrate the company's infrastructure under white-label arrangements to offer digital asset services to their own customers.The platform also broadened its marketing presence in European sport during the year. Bitpanda became FC Basel's shirt sponsor from the 2025-2026 football season, a club with a potential Champions League berth on the horizon. Around the same time, the company signed a French tennis player as a brand ambassador ahead of the French Open, a tournament that drew a television audience of approximately 318 million viewers in 2024.Product Roster Stretches Past 650 AssetsDuring 2025, Bitpanda said it added margin trading for more than 100 crypto assets, brought its total digital asset catalog past 650 items, and enabled staking for more than 50 assets. The company also launched a web3 wallet, which it said is intended to strengthen its onchain capabilities.The expanded product range feeds into the company's stated goal of repositioning itself as a multi-asset platform, a framing it pushed publicly ahead of a potential listing. In January 2026, reports emerged that Bitpanda was targeting a Frankfurt stock exchange debut in the first half of 2026, with a valuation target of between €4 billion and €5 billion and Goldman Sachs, Citigroup, and Deutsche Bank lined up as underwriters.Regulatory Footprint Reaches Three ContinentsOn the licensing front, Bitpanda said it obtained an EU-wide MiCA license during the year, which the company says allows it to operate under a single unified framework across the bloc's 27 member states, just as Europe's new crypto regime formally takes hold. The firm also holds a crypto license from the UK's Financial Conduct Authority and a full broker-dealer license from Dubai's Virtual Assets Regulatory Authority. Bitpanda secured that UAE license in early 2025, its first fully licensed operation outside Europe, enabling the firm to offer more than 500 cryptocurrencies, crypto indices, and savings plans to UAE investors.The company said it also pushed into Latin America and the Asia-Pacific region during the year, though it did not break out specific figures or timelines for those markets. This article was written by Damian Chmiel at www.financemagnates.com.

Europe's top securities regulator said today (Thursday) that the rules governing how investment firms deal with retail clients have become too burdensome and in many cases simply ineffective, and that it now intends to act.The European Securities and Markets Authority (EMS)A published findings from a year-long Call for Evidence on the retail investor journey, gathering input from 96 stakeholders including brokers, consumer groups, and trade associations. The picture that emerged is not flattering for a framework that has been in place for nearly a decade. FinanceMagnates.com covered the launch of that consultation when ESMA openly asked whether its own rules were making investing harder.ESMA Chairwoman Verena Ross said the work would translate into concrete action. "ESMA will take forward concrete work to make it easier for retail investors to participate in the EU capital markets," she commented, adding that the effort "requires ESMA to work in a joint effort with market participants, the European Commission, co-legislators and national governments."Nobody Is Reading the DocumentsThe clearest indictment in the report concerns the Key Information Document, the consumer-facing summary that regulators designed to help retail investors make informed choices. According to data cited by ESMA, only 1% to 10% of clients in online environments actually open KIDs. Yet producing and delivering them costs firms considerably.That sits alongside other hard-to-defend numbers. Pre-contractual documentation runs between 50 and 100 pages. Basic information brochures can reach 200 pages. Most of it, respondents told ESMA, goes unread. The regulator acknowledged the requirements are "not fit for the digital age," built around static PDFs rather than the mobile interfaces most retail investors now use. The question of whether MiFID II has caused more harm than good is one FinanceMagnates.com has examined before, and Thursday's report answers it, at least partly, with the regulator's own data.ESMA said it will move toward layered, mobile-friendly disclosures and use consumer testing to validate any changes, including for mobile-first users.Suitability and Sustainability Both Get SimplifiedOn suitability assessments, stakeholders backed the principle but said the implementation generates significant administrative work for firms and confusion for clients. Many retail investors reportedly find the process opaque, unclear about why they need to provide granular financial data or how it affects the advice they receive. ESMA said it is considering an event-driven model, where profile updates are triggered by material changes rather than fixed schedules, a shift that would reduce repetitive compliance work for platforms and brokers. This matters particularly as ESMA has simultaneously been expanding the scope of appropriateness requirements to cover products like perpetual futures.For sustainability preferences, the signal was even clearer. The current three-step ESG integration in suitability assessments was widely described as "excessively complex," with the vast majority of clients reportedly stating no preference when asked. ESMA said it will pursue "significant simplification," which amounts to the most concrete relief offered to compliance teams in the report.Young Investors and the Unregulated AlternativeThe report also addressed why younger investors are bypassing traditional regulated platforms. ESMA cited high return expectations, social media influence, streamlined neobroker onboarding, and distrust of traditional financial institutions as the main drivers. Retail trading demand hit a record in early 2026, up 25% from its prior peak, which underscores the point: the appetite is there, but regulated channels are losing the competition for it.Tax Remains the Hardest ProblemBeyond regulation, tax drew some of the sharpest commentary. Cross-border withholding tax reclaims can take up to two years. In Germany, the average refund in 2024 took 615 days. About 70% of European investors reportedly do not even attempt a reclaim, finding it too complex or too costly. More than 31% said they intend to stop buying foreign EU shares because of it. Respondents called for a pan-European savings account framework modelled on successful schemes in Sweden, France, and the UK.ESMA said Thursday's findings will guide its upcoming technical advice on MiFID II delegated acts, aligned with the Retail Investment Strategy, on which political agreement was recently reached. The report lands as the regulator is also managing new derivatives reporting standards for CFD providers due within 15 months, new MiFID II client-tagging requirements for CFD brokers, and a fresh systemic risk warning published just two days ago.Thursday's report, in plain terms, confirms what the industry has argued for years: the rules designed to protect retail investors have also made it considerably harder for them to invest. This article was written by Damian Chmiel at www.financemagnates.com.

The Research and Innovation Foundation (RIF), Cyprus’ national funding agency for research and innovation, supports the Cyprus Diaspora Forum through its Sponsorship Programme, recognising the Forum’s contribution to strengthening connections between Cyprus and its global community.The Cyprus Diaspora Forum has established itself as a leading platform that brings together members of the Cypriot diaspora, innovators, entrepreneurs, researchers and policymakers from around the world to exchange ideas, build partnerships and highlight Cyprus’ growing international presence in key sectors of the economy.Through initiatives like this, the Forum contributes to expanding Cyprus’ global networks and creating opportunities for collaboration in areas such as entrepreneurship, science, technology and innovation.The Cyprus Diaspora Forum, a premier international business event showcasing Cyprus as a leading business and innovation hub, has reached a major milestone with funding from the Cyprus Research and Innovation Foundation (RIF) ‘Large-scale Events’ Programme.This grant recognises the Forum’s global reach in promoting research, technological development, and innovation, while supporting the RIF’s key initiatives to position Cyprus as a centre of excellence in research and innovation.The funding will bolster the Forum’s mission to foster collaboration between local and international organisations and enhance the development of research and innovation skills. It will also contribute to the long-term sustainability of the Forum as it continues to evolve into a cutting-edge global event, further establishing Cyprus as a hub for innovation and business.Paul Lambis, Founder and CEO of the Cyprus Diaspora Forum, said:"We are honoured to receive this significant grant from the Cyprus Research and Innovation Foundation. This funding marks a pivotal moment for the Forum, enabling us to bring together Cypriot diaspora communities, leaders from the public and private sectors, academia, media, and civil society, all united in recognising the invaluable contribution of Cyprus’ diaspora and strengthening ties with the local community."Theodoros Loukaidis, Director General of RIF, added:"The Cyprus Diaspora Forum offers a first-class opportunity to reach out to the Cypriot diaspora and showcase the achievements of our country in fields of research, technology and innovation. Strengthening connections with Cypriot professionals and innovators abroad is essential for further developing our ecosystem, fostering international collaborations and showcasing Cyprus as an emerging hub for research, technology and innovation."The Forum will take place at the Amara Hotel in Limassol, Cyprus, from 6–9 May 2026, offering a comprehensive showcase of the island’s industries while highlighting the role of Cyprus’ diaspora in driving technological advancement and business opportunities.The four-day event will conclude with the CYDIA Awards 2026, taking place at the Parklane Resort on 9 May 2026, where outstanding achievements of the Cypriot diaspora and distinguished international figures will be celebrated across multiple categories.For more information, visit: www.cyprusdiasporaforum.com This article was written by Finance Magnates Staff at www.financemagnates.com.

Futu Holdings Limited, the Hong Kong-based online brokerage known for its Moomoo and Futubull platforms, reported that its net profit more than doubled in 2025, with full-year revenue climbing past $2.9 billion as clients poured money into U.S. technology stocks and the firm deepened its footprint across Asia.Net income for the year ended December 31 came in at HK$11.3 billion (US$1.45 billion), up 108% from 2024, the company said today (Thursday). Total revenue rose 68.1% year-over-year to HK$22.8 billion (US$2.94 billion), while gross profit margin expanded to 87.1% from 82% a year earlier, a sign that costs are growing far more slowly than the top line.Futu’s Record Trading Volumes on AI and IPO DemandThe headline numbers were driven by an 89.4% jump in total trading volume for the full year, which reached HK$14.68 trillion, the company said. In the fourth quarter alone, trading volume hit HK$3.98 trillion, a quarterly record, up 37.8% from the same period in 2024. U.S. stock trades dominated that figure, accounting for HK$3.04 trillion of Q4 volume, with Futu's CEO attributing the strength to client interest in artificial intelligence-related companies."U.S. stock trading volume grew 17.1% sequentially to HK$3.04 trillion, primarily driven by heightened client interests in companies across the AI value chain," said Leaf Hua Li, Futu's Chairman and Chief Executive Officer.[#highlighted-links#] The surge in AI-linked trading is a theme that has played out across the brokerage industry over the past year, as retail investors chased gains in semiconductor and cloud infrastructure names.Futu's results arrived the same day that TP ICAP reported record full-year revenue of $3.15 billion, pointing to a broadly strong year for financial intermediaries on both the retail and wholesale sides of the market.Hong Kong stock turnover, by contrast, fell 31% quarter-over-quarter to HK$821.1 billion in Q4, as enthusiasm cooled for Chinese technology companies during the second half. Li said the decline was "partially offset by increased trading activity in gold and other precious metals-related equities." Crypto volumes held steady despite what the CEO described as "weak sentiment in crypto in the fourth quarter," with penetration rates continuing to rise in Hong Kong, Singapore, and the United States.Futu's U.S. crypto ambitions took a concrete step forward last year when its Moomoo subsidiary launched a cryptocurrency trading service in the United States, backed by Coinbase, integrating charting and copy trading features into the platform.Client Growth Holds, Though Q4 Pace SoftensFutu ended 2025 with 3.37 million funded accounts, a 39.6% increase from a year earlier and up from 3.1 million at the end of the third quarter. For the full year, the firm says it added more than 954,000 net new funded accounts. Total users across the platform reached 29.2 million, up 16% year-over-year.The fourth-quarter pace was slower. The company added approximately 234,000 net new funded accounts in Q4, down 8% from the third quarter, though up 9% from Q4 2024. Li pointed to the Hong Kong market downturn as the main drag, while noting that Japan and Malaysia picked up the slack. "Growth in Hong Kong decelerated quarter-over-quarter due to a sharp Hong Kong stock market downturn, yet growth in Japan and Malaysia picked up meaningfully sequentially," he said.Total client assets ended the year at HK$1.23 trillion, up 65.9% year-over-year but essentially flat from the prior quarter, as falling valuations in Hong Kong-listed stocks offset fresh inflows. The U.S. market recorded the fastest sequential gain in average client assets, the company said.Costs Controlled as Earnings Per Share ClimbDespite the sharp revenue growth, Futu kept total costs nearly flat - down 6.1% year-over-year in Q4 to HK$728.8 million - largely because interest expenses on its securities borrowing and lending book fell about 15%. Operating expenses for the quarter rose a more modest 8.6%, leading to an operating margin of 64.4%, up from 50% in Q4 2024.For the full year, operating income more than doubled, rising 112.6% to HK$14.1 billion. Diluted earnings per ADS came in at US$10.31 for 2025, compared with US$9.72 implied by the HK$38.88 figure reported for 2024.This Q4 performance builds on a strong run that has gathered pace since mid-2024. Quarterly profit jumped 144% in Q3 2025, when net income hit $414 million on the back of surging IPO activity and cryptocurrency trading gains - itself a sharp acceleration from the trajectory laid out in Futu's full-year 2024 results, when the company added 701,000 paying clients and targeted 800,000 new ones in 2025. It hit that mark and is now setting the same goal for 2026.Eyes on 800,000 New Accounts in 2026Looking ahead, Li said the company sees room to grow across all of its markets and is guiding to 800,000 net new funded accounts this year. "We continue to see ample bottom-up growth opportunities across our markets and are guiding to 800 thousand net new funded accounts in 2026," he said. Management will hold an earnings conference call on Thursday at 7:30 AM Eastern Time. This article was written by Damian Chmiel at www.financemagnates.com.

TP ICAP Group (LSE: TCAP) reported its strongest annual results on record today (Thursday), with full-year revenue hitting $3.15 billion (£2.35 billion) and adjusted operating profit beating market forecasts, as the interdealer broker announced a $107 million (£80 million) share buyback and raised its dividend for the year.Group revenue for the twelve months ended December 31, 2025 rose 4% at reported exchange rates, or 6% at constant currency, to $3.15 billion, compared with $3.02 billion a year earlier. Adjusted earnings before interest and tax climbed 7% on a reported basis - or 10% at constant currency - to $466 million, ahead of the analyst consensus the company said it had compiled from six forecasters.Reported pre-tax profit came in at $308 million, up from $287 million in 2024, while basic earnings per share rose 14% to 25.2 pence. On an adjusted basis, EPS increased 5% to 33.5 pence."TP ICAP delivered another year of strong revenue and profit growth," said CEO Nicolas Breteau. "At constant currency, our Global Broking franchise achieved record revenue growth of 10%, while total Group revenue increased by 6% to £2.4bn, and adjusted EBIT increased 10% to £348m."Global Broking Drives Record GrowthThe engine of this year's performance was Global Broking, which accounts for 58% of total Group revenue and posted a 10% constant currency increase to $1.84 billion.Every asset class within the division grew, the company said, with Rates contributing $849 million, up 12%, and Credit jumping 15% to $173 million, partly helped by the 2025 acquisition of Neptune Networks. Equities also rose 12% in constant currency to $356 million, while FX and Money Markets delivered a more modest 2% gain.Broker productivity improved 8% year-on-year, with average revenue per broker rising to $1.01 million (£752,000), compared with $979,000 (£732,000) in 2024. The division's adjusted EBIT reached $323 million (£241 million), up from $270 million (£202 million) at constant currency. TP ICAP said it intends to build on this momentum through the pending acquisition of Vantage Capital Markets, announced in January 2026, which the company expects to strengthen its equity derivatives and fixed income presence across Asia-Pacific.FinanceMagnates.com also reported in February that the platform had already passed $1 billion in monthly trading volume before its structural overhaul.Key Financial MetricsAll USD conversions at £1 = $1.3379, as of March 12, 2026Liquidnet and Parameta Hold SteadyLiquidnet, TP ICAP's multi-asset agency execution business, grew revenue 4% at constant currency to $489 million (£365 million), matching the prior year's pace. The first half saw strong equity market volumes driven by geopolitical events and tariff uncertainty. Block trading sentiment became more cautious in the second half, the company acknowledged, though multi-asset agency volumes benefited from rate and FX volatility tied to US trade policy developments. Algorithmic trading activity rose 26% on the platform, and the APAC business grew 16%, the firm said.Parameta Solutions, the Group's subscription data unit, posted a 5% constant currency revenue increase to $270 million (£202m). Subscription-based revenues represent 97% of the total.. The company also said its board continues to review a potential minority stock market listing of Parameta Solutions but described market conditions for an IPO as "challenging."Buyback and Dividend Cap a Big Year for Shareholder ReturnsThursday's results came alongside a $107 million (£80 million) buyback announcement, the sixth such program the company has launched, bringing total share buybacks over the past three years to $308 million (£230 million). Combined with dividends, TP ICAP said it has returned or announced nearly $803 million (£600 million) to shareholders since 2023, placing it in the top quartile of FTSE 250 companies for distributions over that period.Half-year results published in August 2025 showed revenue of $1.63 billion (£1.22 billion) and net adjusted earnings of $174 million (£130 million) for the first six months, laying the foundation for the strong full-year outcome. This article was written by Damian Chmiel at www.financemagnates.com.

Hedge funds are increasingly seeking access to prediction markets, pushing prime brokers such as Clear Street and Marex Group to connect their clients to event contracts listed on Kalshi. The plans were discussed at the Futures Industry Association’s annual conference, where market participants pointed to growing interest in prediction markets from hedge funds and other professional investors. “Over the last few weeks we’ve seen very large hedge funds coming to us and saying, ‘Can you give us access to these markets?’” Thomas Texier, Marex’s head of clearing told Bloomberg in an interview at the FIA conference.Texier added that Marex’s structured products desk is also interested in using prediction markets to hedge exposures in packaged investment products. Building Institutional Market Access The move is part of a broader push to integrate prediction markets into infrastructure used by institutional investors. Kalshi CEO Tarek Mansour said interest from traditional broker-dealers and banks has increased in recent months. Tradeweb Markets recently agreed to distribute Kalshi’s event market data to its institutional clients, bringing prediction market pricing to institutional data feeds. Technology vendors are also moving in. NinjaTrader Group, the retail futures brokerage acquired by Kraken for $1.5 billion, recently launched NinjaTrader Connect, a platform that allows brokers and fintech firms to build regulated futures and prediction market products without developing the underlying infrastructure. Devexperts has introduced similar tools that let CFD brokers and prop firms launch event-trading platforms or integrate event contracts into existing systems. Prime brokers such as Clear Street and Marex are now exploring clearing and execution services that would allow hedge funds to access these contracts through their existing brokerage relationships. Legal and Regulatory Considerations Institutional interest comes as the sector continues to face regulatory and legal questions. Some state regulators have argued that certain prediction market contracts resemble sports betting or gambling products. At the federal level, the Commodity Futures Trading Commission maintains that event contracts listed on regulated exchanges fall under its jurisdiction. Clear Street CEO Ed Tilly acknowledged that some of the contracts are controversial but said the firm’s role is to provide access to regulated markets when clients request it. At the same time, lawmakers have begun examining the sector. U.S. Senator Richard Blumenthal recently introduced the Prediction Markets Security and Integrity Act, a proposal that would restrict contracts tied to events such as war and address potential insider trading risks.Prediction markets have become a haven for insider trading, market manipulation, & underage gambling. These billion-dollar businesses are turning war into a casino game, & creating a market for national security leaks. https://t.co/HgBBtf6amW— Richard Blumenthal (@SenBlumenthal) March 11, 2026 A New Institutional Segment For prime brokers, the growing interest from hedge funds suggests prediction markets may gradually become another niche segment of the derivatives landscape. By providing institutional access, brokers can offer clients exposure to these contracts while relying on the same clearing and compliance infrastructure used for other exchange-traded products. This article was written by Tanya Chepkova at www.financemagnates.com.

ALTA – Blockchain Labs, (https://altalab.io/) a global firm enabling crypto project success, has officially joined Consensus Miami 2026 by CoinDesk as a Community & Marketing Partner, strengthening collaboration between leading Web3 innovators and one of the most influential events in the digital asset industry.Consensus by CoinDesk is widely recognized as the #1 destination for institutional-scale digital asset deal flow. Forbes famously described the event as “The Super Bowl of Blockchain” and “The World Cup of Web3.”The event is expected to host 20,000+ senior leaders from the crypto, finance, technology, and policy sectors representing over 100 countries for three days of deals, demos, and decisions that will define the next era of the global economy.Source: https://coinmarketcap.com/account/rewards/ALTA – Blockchain Labs has also launched a special CoinMarketCap Diamond Store campaign dedicated to Consensus Miami 2026. The Diamond Store is visited by over 29 million Diamond holders and 250,000 daily active users, allowing highly targeted crypto users to discover the event and access a special ticket discount from ALTA.The partnership between ALTA – Blockchain Labs and Consensus reflects a shared commitment to accelerating the mass adoption of blockchain and Web3 technologies worldwide. Through its role as Community & Marketing Partner, ALTA will help connect its global network of blockchain founders, investors, and ecosystem partners with the Consensus platform.Yaroslav Ivanov, Co-Founder and Chief Visionary Officer of ALTA – Blockchain Labs, with Brad Garlinghouse, Chief Executive Officer of Ripple Labs, at Consensus 2024 in Austin. “Consensus is a must-visit digital asset oasis, an immersive journey into the lore of blockchain and an exceptional networking experience,” said Yaroslav Ivanov, Co-Founder and Chief Visionary Officer (CVO) of ALTA – Blockchain LabsAs part of the partnership, ALTA – Blockchain Labs is offering its community and partners an exclusive 15% discount on Consensus Miami 2026 tickets using promo code “ALTA15”For blockchain companies, Web3 founders, and cryptocurrency exchanges at early, growth, and expansion stages, the event represents a unique opportunity to gain visibility, build strategic relationships, and engage directly with industry decision-makers. ALTA’s participation further reinforces its mission to support innovative projects as they scale globally and integrate into leading crypto ecosystems.Attendees can learn more about the event and secure their tickets for Consensus Miami 2026 (May 5–7) using ALTA’s exclusive offer.About ConsensusConsensus is the world’s largest and longest-running gathering dedicated to blockchain, digital assets, and Web3 technologies. Since 2015, the event has served as a central meeting point for industry leaders, entrepreneurs, investors, developers, regulators, and institutions shaping the future of decentralized technology.Each year, Consensus brings together thousands of participants from around the world for high-impact panels, product launches, networking opportunities, and strategic partnerships. The event plays a critical role in advancing dialogue between the worlds of technology, finance, and policy as the global digital economy continues to evolve.About ALTA – Blockchain LabsALTA – Blockchain Labs is a global firm enabling crypto project success since 2015. The company provides strategic management and growth advisory to early-stage, scaling, and expansion-phase blockchain companies, token projects, and cryptocurrency exchanges worldwide.With operations across multiple regions and close relationships with leading cryptocurrency exchanges and ecosystem partners, ALTA helps innovative blockchain projects achieve Tier-1 market positioning and accelerate global adoption.Combining deep technical expertise with strategic insight, ALTA delivers institutional-grade advisory and project evaluation, enabling clients to scale effectively in the rapidly evolving digital asset economy.About CoinDeskCoinDesk is the most trusted media, events, indices, and data company for the global crypto economy. Since 2013, CoinDesk Media has led the story of the future of money and investing, illuminating the transformation in society and culture driven by digital assets.CoinDesk Events gathers the global crypto, blockchain, and Web3 communities at annual events such as Consensus, the world’s largest and longest-running crypto festival. CoinDesk Indices offers expertise in digital asset indices, data, and research designed to educate and empower investors. This article was written by FM Contributors at www.financemagnates.com.

The U.S. Justice Department is investigating whether Iranian networks used cryptocurrency exchange Binance to move funds and evade American sanctions, according to a report by The Wall Street Journal.The probe focuses on more than $1 billion in crypto transfers that allegedly passed through the platform to entities linked to Iran-backed groups, including Yemen’s Houthi militants.The investigation follows reports that Binance wound down an internal review that had identified around $1.7 billion in flows from mainly Chinese clients to digital wallets associated with Iranian proxies.Exclusive: The Justice Department is investigating Iran’s use of Binance to evade U.S. sanctions https://t.co/Qqw2h2cQuP— The Wall Street Journal (@WSJ) March 11, 2026Inquiry Examines Iran-Linked Crypto FlowsIt includes funds allegedly routed via Hong Kong-based payments firm Blessed Trust. The Wall Street Journal said officials have contacted individuals with knowledge of the transactions but added it is unclear whether authorities are scrutinizing Binance itself, its users, or both.You may also find interesting: Richard Teng Explains Why Binance Chose Greece for Its EU MiCA LicenseAmid the claims, the exchange has filed a defamation lawsuit against Dow Jones, the publisher of The Wall Street Journal.We have filed a complaint against the @WSJ for publishing a false and defamatory report, and to shine the light of truth. We view this suit as a necessary step to defend ourselves against misinformation, hold the WSJ accountable for prioritizing clicks over journalistic… pic.twitter.com/c4BPAi95Kh— Binance (@binance) March 11, 2026The lawsuit, filed in the Southern District of New York, claims the WSJ falsely stated that Binance fired staff who raised compliance concerns and mishandled Iran-linked transactions. It argues that those employees left over alleged internal data protection violations instead of retaliation.Binance, which pleaded guilty in 2023 to U.S.anti-money-laundering and sanctions violations and agreed to a $4.3 billion settlement and compliance monitoring, said it did not directly transact with sanctioned entities and worked with law enforcement to dismantle the network.Binance Cites Cooperation with Law Enforcement The exchange said its investigation showed only about $24 million ultimately entered wallets tied to Iran’s Islamic Revolutionary Guard Corps and that accounts linked to the intermediary network have been closed. A separate Senate inquiry led by Senator Richard Blumenthal is also seeking records on Binance’s handling of the Iranian-related activity, citing the Journal’s reporting.Keep reading: Iran Crypto Market “In the Dark”: Trading Volumes Plunge 80% After StrikesMeanwhile, Binance.US has moved to refresh its executive ranks, appointing Stephen Gregory as CEO while Norman Reed shifts into an advisory role. Gregory, who took over on March 9, previously led Currency.com’s U.S. business through its 2025 acquisition and has held senior compliance roles at Gemini and CEX.io.Meet our new CEO: Stephen Gregory (@Stevie_Satoshi)He's a compliance expert, builder, and seasoned trader. Now, he's leading @BinanceUS into our next chapter as we build the best crypto exchange for Americans. https://t.co/pmlWrU09YO— Binance.US ?? (@BinanceUS) March 11, 2026The exchange is positioning the leadership change as the next step in its U.S. growth strategy after a period of regulatory pressure that has included enforcement actions and tighter scrutiny of its business model. Gregory’s appointment comes as Binance.US tries to move past those challenges This article was written by Jared Kirui at www.financemagnates.com.

India’s Central Bureau of Investigation has arrested Ayush Varshney, co-founder and chief technology officer of Darwin Labs Private Limited, in connection with the GainBitcoin cryptocurrency fraud case. The scheme, one of the largest crypto frauds in India, involved around 8,000 investors and reported losses of about $790 million.Indian authorities have repeatedly warned that some cryptocurrency investment products could resemble “Ponzi schemes.” In 2019, police arrested four individuals in a separate crypto fraud that defrauded investors of $14 million.GainBitcoin Platform CTO Detained in IndiaVarshney was detained at Mumbai airport on Monday while attempting to leave the country. A Look Out Circular had been issued against him, and he was taken into custody on Tuesday for further investigation.Investigators said Darwin Labs built key technology used in the scheme, including the GainBitcoin investor platform, related payment and wallet systems, and later, the MCAP token and ERC-20 smart contract.BREAKING: ??CBI arrests Ayush Varshney, a key figure in ₹6,000 crore GainBitcoin scam. pic.twitter.com/BlNocj5GVR— Crypto India (@CryptooIndia) March 11, 2026CBI Conducts Coordinated Searches in GainBitcoin CaseGainBitcoin, which began in the mid-2010s as a cloud-mining platform, initially offered fixed Bitcoin returns. It later shifted to a multi-level marketing model, with payouts linked to recruiting new participants, and when deposits slowed, rewards were paid in the lower-value MCAP token. Darwin Labs also built GBMiners.com, a Bitcoin payment gateway, the Coin Bank wallet, and the GainBitcoin website. Authorities said the scheme was led by Amit Bhardwaj, who died in 2022 while on bail. Coordinated searches at over 60 locations were conducted on February 26, 2025.India’s Central Bank Upholds Broker RestrictionsThe case comes as India’s financial regulators continue tightening oversight of capital markets. India’s central bank confirmed it will not change new lending rules for retail brokers and proprietary traders, effective April 1. The regulations require banks to back all credit to capital market intermediaries with 100% eligible collateral and prohibit financing of proprietary trading. The move follows growing scrutiny of retail derivatives trading, where investors have experienced significant losses, and authorities have highlighted potential impacts on liquidity, brokerage operations, and broader market activity. The RBI confirmed no adjustments are planned. This article was written by Tareq Sikder at www.financemagnates.com.

The European Securities and Markets Authority (ESMA) has warned that Europe’s financial system remains at high risk of disruption in 2026. It cited escalating geopolitical tension, stretched asset valuations, and expanding cyber threats. The regulator said vulnerabilities persist across markets despite a resilient finish to 2025.Markets Face Elevated VolatilityESMA’s first risk report of 2026 outlines a fragile environment shaped by the shockwaves from the Middle East conflict, which flared in late February. Early market reactions, the agency said, confirmed the transmission channels it had previously identified.“The recent escalation of conflict in the Middle East continues to significantly affect markets, leading to sharp increases in energy and commodity prices, as well as elevated volatility. ESMA’s latest risk monitoring analysis highlights the potential for disorderly corrections that could spill over across markets,” said Verena Ross, ESMA’s Chair.“In this context, disciplined risk monitoring and risk management remain essential to ensure orderly markets, a core objective for ESMA.”The warning comes as ESMA tightens the screws across EU markets. It recently redefined derivatives clearing thresholds and placed perpetual futures under CFD rules. The regulator is also pushing for “report once” reporting across EMIR, MiFIR and SFTR.The regulator has informed firms that crypto-linked perpetuals are likely to be treated as CFDs. This includes full leverage caps, margin close-out rules, negative balance protection and strict marketing limits. It signals that it will not allow high-volatility instruments to amplify the very market, liquidity and retail-investor risks it now flags in its 2026 risk monitor. Keep reading: ESMA Tells Firms Perpetual Futures Fall Under EU CFD RulesAccording to ESMA's latest warning, equity valuations remain high, raising the risk of sudden corrections. Bond spreads narrowed but liquidity weakened, while crypto markets suffered from an extended sell-off following the October flash crash.Cyber, Structural, and Consumer PressuresFinancial infrastructures face a growing wave of cyber and hybrid attacks, with rising settlement failures in ETFs, UCITS, and equities. In asset management, equity funds performed well thanks to strong U.S. exposure, though regulators flagged the opacity of private finance.Investor flows continue to shift toward ETFs and passive strategies, but social media-driven trading is amplifying bubble risks among younger investors. Meanwhile, IPO activity stayed weak, and cooling sentiment around climate policy weighed on ESG funds, even as catastrophe bond issuance surged to record levels.ESMA holds the view that higher structural risks in Europe’s markets need to be matched with much sharper transparency, and its latest equity update pushes firmly in that direction. It is tightening how liquidity, transaction sizes and tick structures are defined for equities and equity‑like instruments. This article was written by Jared Kirui at www.financemagnates.com.

Europe's drive to channel ordinary savers into private asset funds is drawing growing mis-selling warnings, even as platforms like Berlin-based Trade Republic race to offer retail investors access to products once reserved for institutions and the ultra-wealthy. The Financial Times first reported the breadth of industry concern, pointing to a widening gap between how these products are marketed and what investors may actually face when they want their money back.The warning signs are already visible in the US. In February, private credit group Blue Owl permanently restricted investors from withdrawing money from one of its early retail funds. Blackstone's $82 billion flagship private credit fund, Bcred, saw $1.7 billion of net outflows in the first quarter, and the firm's market capitalization dropped from roughly $250 billion at the end of 2024 to about $134 billion."So many players are getting involved in the distribution of these products for the first time," said Steffen Pauls, co-chief executive of Moonfare. "There is a risk of mis-selling."Regulators Open the DoorThe EU's revised European Long-term Investment Fund, Eltif 2.0, launched in 2024 and explicitly targets individual investors. There are now 246 registered Eltifs available across Europe, with assets estimated at around €33.3 billion. In the UK, the equivalent Long-term Asset Funds hold roughly €6 billion. From next month, British investors will also be able to hold private asset funds inside an ISA, and Hargreaves Lansdown has said it will offer them.ESMA warned on Wednesday - the same day this story published - that EU financial markets are entering 2026 in a high-risk environment, with structural vulnerabilities in semi-liquid products a growing supervisory concern."Before we widen access to private markets, we need honest answers to hard questions," said Robin Powell, a financial transparency campaigner. "Can retail investors genuinely understand what illiquidity means for them personally? And who is accountable when it goes wrong?"Liquidity Risk Is the Core ProblemPrivate asset funds invest in things that are hard to sell quickly. Redemptions are typically allowed only during set windows, capped at maximum amounts. Germany's Greenman Open fund, a €1.3 billion Eltif, suspended withdrawals at the end of last year for exactly that reason.The 2019 collapse of Neil Woodford's equity income fund remains the starkest warning. Woodford had built substantial positions in unquoted companies; when investors rushed to exit, the fund was suspended and later wound down, leaving thousands with losses. "An open-ended fund with illiquid underlying assets is a loaded gun," Powell said. "It works fine until it doesn't."A recent Morningstar report also challenged a central marketing claim, finding that semi-liquid strategies "often carry traditional equity or credit risks and are not suitable to play the role of portfolio diversifiers."Trade Republic and the Democratization PitchAmong the loudest advocates is Trade Republic, the Berlin fintech that reached a €12.5 billion valuation in December. The company partnered with Apollo and EQT to offer fractional private market access from €1, has expanded into Poland and has been reshaping retail investing habits in Italy. Co-founder Christian Hecker notes that its average customer is 30 years old, with "30-40 years of savings life in front of them." He adds: "As a broker, we have an obligation to be very transparent that this is not the public markets."A parallel fight is playing out over whether blockchain tokenization could open a faster - or riskier - route to private market access. Robinhood CEO Vlad Tenev has argued that tokenization is "the biggest innovation in capital markets in well over a decade," with plans to give retail users access to private equity and real estate. But Kraken co-CEO Arjun Sethi called the tokenization of private company stocks "a terrible idea," pointing to transfer restrictions and thin buyer pools that could leave token holders with no market to sell into. Robinhood's earlier attempt to sell tokenized OpenAI shares in Europe ended awkwardly when OpenAI publicly stated the tokens did not represent actual company equity.Who Carries the RiskBNP Paribas Wealth Management's Claire Roborel de Climens said she avoids the term "semi-liquid" with clients entirely. "They are not fully liquid," she said. Pauls at Moonfare said clear disclosure "should be non-negotiable," and that a manager's right to halt withdrawals "needs to be properly explained." With industry estimates suggesting €100 billion could flow into Eltif 2.0 vehicles by 2028, who bears the cost when things go wrong, and how clearly that is disclosed upfront, remains unresolved. This article was written by Damian Chmiel at www.financemagnates.com.