Weekly Roundup: McAfee Memecoin; SEC And CFTC Pro-crypto Chairs

FX Highlights This Week

Big moves and big fines! CMC Markets saw shares drop 18% after disappointing guidance, while PayPal and major brokers faced hefty penalties for compliance failures. On the brighter side, Sky Links secured its SCA license in the UAE, and Robinhood Crypto made its debut in Spain. Plus, iSAM Securities snagged Best B2B Liquidity Provider at iFX Expo Dubai. Stay updated!

CMC Markets stock plunges 18% after failing to revise FY25 guidance

CMC Markets’ stock dropped 18% today, hitting its lowest level since March 2024, as the UK-listed broker disappointed investors by not upgrading its full-year guidance. Read More

Sky Links Capital secures SCA license in the UAE

Sky Links Capital Group has announced the acquisition of a Securities and Commodities Authority (SCA) license in the United Arab Emirates. Read More

New York State fines PayPal $2 million for cybersecurity violations

The New York State Department of Financial Services (NYDFS) has imposed a $2 million penalty on PayPal for failing to meet cybersecurity requirements. Read More

iSAM Securities wins best B2B liquidity provider at iFX Expo Dubai 2025

iSAM Securities has been awarded the title of Best B2B Liquidity Provider at the Ultimate Fintech Awards, held during iFX Expo Dubai 2025. Read More

SEC fines Wells Fargo and Merrill Lynch $60 million for cash sweep program violations

The Securities and Exchange Commission (SEC) has announced settlements with Wells Fargo Advisors and Merrill Lynch for failing to implement proper policies and procedures regarding their cash sweep programs. The two firms will collectively pay $60 million in penalties to resolve the charges. Read More

Robinhood Crypto goes live in Spain

Robinhood Crypto has announced its official launch in Spain, allowing Spanish users to trade cryptocurrencies, stake digital assets, and explore earning opportunities through the platform. Read More

UK FCA identifies gaps in brokers’ AML systems

The UK Financial Conduct Authority (FCA) has issued a review highlighting deficiencies in the money laundering defenses of wholesale brokers. The report identifies critical areas requiring improvement to better protect the capital markets against financial crime. Read More

SEC charges Arete Wealth with $8 million broker fraud

The Securities and Exchange Commission (SEC) has brought charges against Arete Wealth Management LLC, its affiliated investment adviser Arete Wealth Advisors LLC, and several of their representatives for alleged fraud, registration violations, and recordkeeping breaches. Read More

Crypto Buzz This Week

Saudi royals are steering clear of crypto, while Mark Cuban suggests a memecoin for U.S. debt. Drama unfolded with the Barron Trump memecoin skyrocketing to $460M before crashing, and hackers turned Nasdaq X into a platform for promoting a fake token. On the regulatory front, Gemini chose Malta for MiCA compliance, and the SEC’s ‘Crypto Mom’ is leading a new task force. Stay tuned for more crypto chaos and innovation!

Saudi royal family has no plans to invest in crypto

Kingdom Holding Company (KHC), led by Saudi Prince Alwaleed Bin Talal, has no immediate plans to invest in cryptocurrencies due to their limited adoption as a payment method. Read More

Mark Cuban floats memecoin idea to fund US national debt payments

Mark Cuban, billionaire entrepreneur and co-founder of Cost Plus Drugs, proposed a novel—if unconventional—idea: issuing a memecoin to help pay down the United States’ massive national debt. Read More

SEC and CFTC has new acting chairs amid shift in crypto regulation

The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have named new acting leaders, signaling a pivotal moment for U.S. financial oversight as the new US Administration steps in. Read More

Barron Trump memecoin spikes to $460M on rumors, then crashes

A new memecoin, named after Barron Trump, briefly surged to a $460 million market cap based on speculative rumors that it was created by the youngest Trump family member. The token quickly plummeted in value when no evidence supported the claim. Read More

Gemini selects Malta as its hub under MiCA framework

Cryptocurrency exchange Gemini has announced Malta as its hub for compliance with the European Union’s Markets in Crypto-Assets (MiCA) framework. Read More

SEC’s ‘Crypto Mom’ Hester Peirce to lead task force to curb enforcement actions

Mark T. Uyeda, the acting chairman of the U.S. Securities and Exchange Commission (SEC), has announced the creation of a crypto task force aimed at developing a clear and comprehensive regulatory framework for digital assets. Read More

Hackers hijack Nasdaq X account to push STONKS memecoin

The official Nasdaq X account was hacked and used to promote a fraudulent memecoin called STONKS. Read More

John McAfee’s widow launches memecoin in tribute amid frenzy

Janice Elizabeth McAfee, widow of the late John McAfee, introduced a memecoin in her husband’s name as the market’s memecoin craze continues to intensify. Read More