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UAE Bitcoin Miner Phoenix Group Reports 43% Revenue Decline, Highlights Shift Toward Digital Treasury
Phoenix Group, the first UAE-listed Bitcoin (BTC) mining company (ADX: PHX), posted a 43% decline in quarterly revenue compared to last year and reported a $29.2 million net loss, even as it expanded its digital asset holdings and maintained profitable operations across its global facilities.
Phoenix Group Reports Q2 Revenue
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“Governments and Banks Would Stop Bitcoin as a Threat,” Says DGM Tech Solutions CEO
In a recent discussion with Finance Magnates’ Jeff Patterson, Constantinos Michailides, Founder and CEO of DGM Tech Solutions, outlined how artificial intelligence, blockchain, and outsourcing are affecting the industry. The conversation took place at iFX EXPO International 2025.
Outsourcing Brokerage Infrastructure
DGM
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JPMorgan Taps Coinbase to Open Crypto Access for Cardholders
JPMorgan Chase will allow customers to use its credit cards to purchase cryptocurrency on Coinbase, following a new partnership between the two firms announced Wednesday.
The rollout will begin in fall 2025, enabling Chase cardholders to fund their Coinbase wallets directly. A further integration set for 2026 will let users link Chase bank accounts to Coinbase and redeem Chase credit
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Kraken Eyes $500M Funding Round at $15B Valuation as IPO Plans Take Shape
Cryptocurrency exchange Kraken is pursuing $500 million in fresh funding at a $15 billion valuation, people familiar with the matter told The Information, marking a significant step up from its previous $11 billion price tag in 2022.
Kraken Is Building IPO Runway
The funding round comes as the 14-year-old crypto platform prepares for a potential initial public offering (IPO) as
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U.S. SEC Eases Rules for Bitcoin, Ether Funds in Shift From Cash-Only Model
The U.S. Securities and Exchange Commission on Monday approved new rules allowing authorized participants to create and redeem shares of crypto exchange-traded products (ETPs) using in-kind transfers of bitcoin and ether.
The decision departs from the cash-only requirement imposed on recently approved spot crypto funds and aligns crypto ETPs with other commodity-based
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Australian Regulator Flags Bitget for 125x-Leveraged Crypto Futures Offerings
The Australian financial market regulator has warned against the cryptocurrency exchange Bitget, which has been offering “unlicensed” futures products with 125:1 leverage. The exchange does not hold the proper local licence to offer crypto derivatives.
The warning, issued today (Monday), is against BTG Technology Holdings
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Revolut Restarts Crypto Staking in Hungary Following Regulatory Review
Revolut has reinstated its crypto staking services for customers in Hungary following a temporary suspension triggered by new government regulations, Coindesk reported.
The digital bank halted most of its cryptocurrency features in Hungary earlier this month due to a law that criminalizes trading on unlicensed crypto platforms.
Legal Review Allows Staking Services to Return
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Tourists in Rio May Soon Pay with Crypto as Bybit and Tether Expand
Bybit has entered a strategic partnership with Tether to promote cryptocurrency adoption in Brazil. Bybit ranks second in global cryptocurrency trading volume. Tether is the issuer of USDT, the most widely used stablecoin globally.
Plans for Crypto in Tourism Sector
Bybit and Tether are in talks with Visit Rio, the city’s tourism authority. The plan is to introduce cryptocurrency
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Hidden Road Expands Prime Brokerage Services with OTC Crypto Options
Hidden Road has expanded its prime brokerage services by adding support for over-the-counter (OTC) options on digital assets. The new offering allows institutions to execute OTC options and apply cross-margining with their other crypto holdings.
Launching the New Product with Industry Partners
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Binance Now Accepts Circle’s Yield-Bearing USYC Token for Institutional Collateral
Binance has integrated Circle’s USYC token into its platform, allowing institutional clients to use this tokenized money market fund as off-exchange collateral in derivatives trading.
This collaboration aims to meet growing institutional demand for tokenized Real-World Assets and improve capital efficiency by enabling near-instant conversion of USYC into USDC
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AI Bots Now Power 67% of Gen Z Crypto Trades, Study Shows
A new report from cryptocurrency exchange MEXC reveals that most Generation Z crypto traders now rely on artificial intelligence tools to guide their investment decisions.
The findings highlight how automation and AI-driven strategies are reshaping crypto trading among young investors who seek both efficiency and emotional control in turbulent markets.
Gen Z Leads the AI-Driven
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Finvasia Backs UGold’s Issuer as Market Cap of the Token Hits $11.5 Billion
Finvasia has taken a stake in Genius Digital Partners, the developer of UGold, after supporting the firm passively for several months. The decision to add the company to Finvasia’s holdings came after the tokenised gold continued to gain traction in the market.
Tokenised Gold Sees Demand
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Kraken’s Co-Founder Jesse Powell Cleared of Hacking Charges After FBI Investigation
The FBI ended its investigation into Jesse Powell over alleged hacking of a nonprofit. Powell faces no criminal charges, and the devices seized have reportedly been returned.
According to Fortune report, the FBI has officially closed its criminal investigation into Jesse Powell, co-founder of cryptocurrency exchange ...
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Prediction Platform Polymarket Buys QCEX Exchange in $112 Million Deal to Reenter the U.S.
Polymarket has acquired the parent company of QCEX, a CFTC-licensed exchange and clearinghouse, in a $112 million deal that paves the way for the crypto prediction market’s return to the United States.
Based on the sale's terms, Quadcode Group will assume the role of a strategic shareholder in addition to being a technology partner to Polymarket.
The move follows the end of a
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No App or Wallet Needed: How Telegram Is Changing Access to Crypto Finance
Fintech has long been obsessed with building the next great app. From neobanks to DeFi protocols, the playbook has been to launch a standalone product and then convince users to download it, create an account, and learn a new interface. But this model is showing its age.
In the era of app fatigue, the most impactful innovations aren’t asking users to come to them—they’re meeting users
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