Ali Raza

Bahāwalpur, Pakistan

Senior Technical , DeFi, Digital Securities & Fintech at Freelance

Senior Writer at Invezz

Freelance Journalist, Researcher & Blogger. Can be seen at @cryptonews, @B2Community, @securitiesio, @InvezzPortal, @capitalcom, @be_encrypted, and so on.

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Articles

Strategy Chairman Hints At Even More Coming Bitcoin Acquisitions

1 week ago | economywatch.com | ALi RaZa |Ali Raza

Michael Saylor, the executive chairman of Strategy (formerly MicroStrategy) recently posted a Bitcoin tracker on X which displayed Bitcoin’s current metrics. The post, made on April 13, was taken by many as a signal that his company is preparing for even more large-scale Bitcoin acquisitions, sparking speculations across the platform.
UK Chancellor Confirms That Nikhil Rathi Was Reappointed As The CEO of the FCA

1 week ago | economywatch.com | ALi RaZa |Ali Raza

UK Chancellor Rachel Reeves recently confirmed that Nikhil Rathi was reappointed as the Financial Conduct Authority’s (FCA) chief executive. With his reappointment, Rathi’s second term will now last until 2030. Following his return to the FCA office, Rathi will work alongside the UK government on Reevs’ Regulatory Action Plan, which is meant to reduce the administrative cost of regulation on business by 25%.
Nate Founder Charged With Fraud After The AI Shopping App Turned Out To Be Powered By Humans

1 week ago | economywatch.com | ALi RaZa |Ali Raza

Albert Saniger, the founder and former CEO of an AI-based tool that promised the ability to automate online shopping checkouts, was charged with fraud due to claims that the process was not automated at all. As it turns out, it was actually carried out by human workers based in the Philippines. The nate app was founded in 2018, when it emerged as an advanced tool claiming to use AI to help users buy products from any e-commerce website with a click of a button.
US Banking-as-a-Service Platform Solid Filed For Bankruptcy

1 week ago | economywatch.com | ALi RaZa |Ali Raza

Solid, a US-based Banking-as-a-Service (BaaS) platform, recently filed for Chapter 11 bankruptcy protection. The company’s last valuation placed its worth at $33 million, which was after a Series B funding round that was led by FTV Capital in 2022. At the time, the round raised $63 million, and the company boasted of achieving 10x growth in revenue, transactions processed in the previous 12 months, and customer base. In other words, it was on a clear path to profitability.
LTP Rolls out An OTC Trading Platform For Institutional Clients

1 week ago | economywatch.com | ALi RaZa |Ali Raza

Prime brokerage company LTP recently launched an Over-The-Counter (OTC) trading platform aimed at institutional clients. The platform’s launch represents an important move, as it would offer a better suite of services, thus bridging the gap between digital and traditional finance.
OpenSea Pushes Back Against SEC’s Proposal To Treat NFT Platforms As Securities Exchanges

1 week ago | economywatch.com | ALi RaZa |Ali Raza

The US Securities and Exchange Commission (SEC) recently introduced a new proposal that would see NFT platforms treated in the same manner as their analog securities-exchange and brokerage firm counterparts. However, OpenSea, the largest NFT platform in the industry, decided to push back against this proposal.
US Courts Step In To Drive The Development Of A Legal Framework For Crypto

1 week ago | economywatch.com | ALi RaZa |Ali Raza

The crypto industry is seeing the development of a legal framework under the Trump administration, which is expected to lead to a dramatic transformation. However, one unusual thing is that it is not driven by lawmakers, but by the judiciary. The US SEC still has some voids that were created by the arrival of the new administration that have not yet been filled, and so, the courts are closing the gaps with interpretation.
Lithuanian Central Bank Hits Revolut With A €3.5 Million Fine

1 week ago | economywatch.com | ALi RaZa |Ali Raza

Revolut recently encountered another legal issue, this time in Lithuania, whose central bank slapped the company with a €3.5 million fine after identifying deficiencies in its anti-money laundering (AML) controls. The Bank of Lithuania is in charge of overseeing Revolut’s banking operations in Europe, alongside the European Central Bank. Commenting on the company’s failings in monitoring business relationships and customer transactions, the bank decided to introduce the sanction.
Lloyds Started Using Google Cloud Tools To Speed Up AI Development

2 weeks ago | economywatch.com | ALi RaZa |Ali Raza

The UK’s Lloyds Banking Group started using Google Cloud and its AI tool known as Vertex AI to accelerate the development of its own AI solutions. Specifically, the bank is hoping to speed up the creation of a new machine learning (ML) and Generative AI (GenAI) platform using Google Cloud. According to the bank, the initiative has already revolutionized its ability to deploy impactful AI use cases at pace. Right now, over 300 of its data scientists and AI developers have started using the platform.
The US Justice Department Disbanded Its National Crypto Enforcement Team

2 weeks ago | economywatch.com | ALi RaZa |Ali Raza

The US Department of Justice recently sent a memo to its employees in which Deputy Attorney General Todd Blanche stated that the national crypto enforcement team will be disbanded. The decision was effective immediately, and Blanche added that the Department of Justice is not a digital assets regulator, thus taking a swipe at the Biden Administration.