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Will Robinhood finally launch in the U.K?

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Robinhood has snapped up a new deal that will revive its plans to launch in the UK

Robinhood has agreed to buy Ziglu, a London-based fintech app that lets users trade bitcoin and several other cryptos.

The announcement comes nearly two years after Robinhood halted plans to launch in the U.K.

Now the company believes the major deal will help it expand into the U.K. and Europe.

“Together with the Ziglu team, we’ll work to leverage the best of both companies, exploring new ways to innovate and break down barriers for customers across the UK and Europe,”

Vlad Tenev, Robinhood’s CEO and co-founder says

Ziglu is one of the few crypto firms that has secured approval from the Financial Conduct Authority.

“As part of Robinhood, we’ll supercharge Robinhood’s expansion across Europe and bring better access to crypto and its benefits to millions more customers,

Mark Hipperson, Ziglu’s CEO says

Shares of Robinhood were up more than 3 per cent on Tuesday.

Business

Government-backed crypto could threaten the U.S. economy, report finds

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Government-backed cryptocurrencies could threaten the U.S. economy, that’s according to a new report

The Treasury Department believe that prices crypto are set by market speculation and don’t have much economic reality.

It’s found crypto-asset firms intersect with entities that have risky business profiles.

Treasury believes this is a concern for the U-S financial system.

Of course, Bitcoin is just one digital coin to swing and los much of its value since the start of this year.

But advocates think these stable-coins could be less volatile than traditional currencies.

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Business

Kim Kardashian charged over crypto promotion

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Kim Kardashian is making headlines today but not for good reasons.

The celebrity has been charged $1.26 million by the Securities and Exchange commission for unlawfully promoting a crypto asset on her Insta profile.

The SEC found that the star failed to disclose she was paid $250, 000 to post about the digital coin.

Chair Gary Gensler says this is a reminder that “when celebrities endorse investment opportunities, it doesn’t mean that those investment products are right”

Gensler warned investors to do their own research and analyse the risk involved based on their own financial goals.

Kardashian fully cooperated with the investigation and is not allowed to promote another crypto asset for three years.

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Crypto

Coinbase users in the dark following company-wide fault

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Coinbase users were left in the dark at the weekend because of a company-wide fault

The crypto exchange temporarily stopped transactions for users in the U.S. for over five hours.

Withdrawals and deposits involving bank accounts were put on hold.

But users could still use a debit card or PayPal to buy their crypto.

It follows a string of delays with Solana too, after the network suffered an outage last Friday.

Of course, Coinbase dropped over 1-thousand staff as the value of the crypto falls dramatically.

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