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Robinhood tips Singapore launch, touts memecoin interest

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Robinhood is preparing to launch cryptocurrency trading services in Singapore through Bitstamp, the exchange it acquired in 2024. While a specific launch date has not been announced, the rollout is expected to begin by late 2025. The decision to expand into Singapore is largely influenced by Bitstamp’s existing regulatory approvals in the country, which Robinhood sees as a strategic advantage for its institutional crypto business.

The acquisition of Bitstamp, valued at $200 million, aligns with Robinhood’s broader goal of strengthening its global crypto presence. Bitstamp has already received in-principle approval from Singapore’s financial authorities, making it a key component of Robinhood’s expansion plans. The finalization of the acquisition is still subject to regulatory clearance, which is anticipated later this year.

In addition to its expansion plans, Robinhood has reported a surge in customer interest in memecoins, despite recent market turmoil. The launch of politically themed tokens, such as the Official Trump (TRUMP) memecoin, has contributed to increased retail participation. Crypto exchanges, including Binance.US and Coinbase, have been expanding their memecoin listings, reflecting a broader trend in the market.

Robinhood’s crypto business has experienced substantial growth, with Q4 2024 revenues reaching $358 million, accounting for more than half of its total transaction-based revenue. The company’s crypto trading volumes soared by over 450% year-over-year, driven by rising market prices and heightened retail engagement. With its Singapore expansion and a growing focus on digital assets, Robinhood aims to solidify its position in the evolving crypto landscape.

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US lawmakers advance anti-CBDC bill

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U.S. lawmakers have voted to advance a bill aimed at blocking the Federal Reserve from issuing a central bank digital currency (CBDC), marking a major step in the political pushback against the development of a digital dollar.

The bill, which passed through the House Financial Services Committee, would prohibit the Fed from directly offering accounts or issuing a CBDC to individuals, citing concerns over surveillance, privacy, and government overreach.

Supporters of the legislation argue that a digital dollar could pose significant risks to civil liberties, enabling real-time tracking of consumer transactions and expanding federal control over personal finances. They view the bill as a safeguard against what they describe as a “surveillance-style” monetary system.

Opponents of the bill, however, argue that restricting CBDC development could hinder U.S. innovation and global competitiveness in the evolving digital financial landscape.

The legislation now moves closer to a potential floor vote in Congress. Its progress underscores growing ideological divisions over the future of money in the United States, with CBDCs emerging as a new front in the broader debate over digital governance, financial freedom, and the role of government in the digital age.

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Gemini to open Miami office after judge stays SEC case

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Crypto exchange Gemini has opened a new office in Miami, reinforcing its commitment to expanding operations despite pausing its plans for an initial public offering (IPO) amid a continuing legal battle with the U.S. Securities and Exchange Commission (SEC).

The Miami office signals the company’s long-term vision for growth in key U.S. markets, even as regulatory uncertainty clouds the broader crypto landscape. The expansion comes at a time when Gemini is facing heightened scrutiny from the SEC over its Earn program, which the regulator alleges involved unregistered securities.

While the IPO remains on hold, Gemini continues to strengthen its infrastructure and team, focusing on user growth, compliance, and regional outreach. The Miami hub is expected to play a strategic role in those efforts, leveraging the city’s growing status as a U.S. crypto hotspot.

Co-founders Cameron and Tyler Winklevoss remain vocal about the need for clear regulatory frameworks and have emphasized that Gemini will continue to fight for fair treatment while building responsibly in the U.S. and abroad.

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Coinbase Institutional files for XRP futures trading with CFTC

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Coinbase Institutional has officially filed with the U.S. Commodity Futures Trading Commission (CFTC) to offer XRP futures trading, marking a significant move toward expanding institutional access to Ripple’s native token.

The filing, submitted through Coinbase Derivatives, signals the exchange’s intent to list XRP futures contracts in a regulated environment. If approved, it would allow institutional investors to gain exposure to XRP through derivative products, a key step in broadening the token’s presence in traditional financial markets.

This development comes amid a gradually improving regulatory climate for XRP, following a partial legal victory for Ripple in its ongoing case with the U.S. Securities and Exchange Commission (SEC). The outcome gave XRP a degree of legal clarity, opening the door for exchanges and financial institutions to re-engage with the asset.

Coinbase’s push to expand its derivatives offerings also aligns with its strategy to build a more robust institutional platform. Approval from the CFTC would position the exchange to capitalize on growing demand for regulated crypto investment vehicles.

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