FCA Warns against 20 Firms; Doo Group Hires Head of HR

FCA Warns against 20 Entities

The Financial Conduct Authority (FCA) has
issued warnings against several firms and individuals. Some of the flagged
entities include CRYPTOSLITE, BCRYPTOFX, ELITE CRYPTO EXCHANGE, and MARKET BY
CRYPTO TRADE. The warning emphasizes these entities’ lack of authorization or
registration with the FCA.

So far, 20
new entities have been added to the warning list during today’s (Monday’s) session.
Their complete list is
available here. The FCA is currently very active on the warning scene. Last week it issued 27 warnings to unauthorized and clone firms.

We’ve issued 27 new #FCAwarnings to unauthorised and clone firms in the last 7 days. Protect yourself and find all recent warnings https://t.co/0qLeqfKYJ0 pic.twitter.com/tUsT9mvXbp

— Financial Conduct Authority (@TheFCA) August 4, 2023

Fasset Presents Super-App

Digital

Digital asset firm Fasset launched a super-app targeting financial inclusion in
emerging markets. Within its first week, the app gained over 1 million users,
with Indonesia, Pakistan, and Türkiye leading in user numbers. Mohammad Raafi
Hossain, Fasset’s CEO, emphasizes the app’s potential to democratize finance,
bridging a significant gap in emerging markets.

“In
most emerging markets, being able to build a diversified portfolio, leverage
against assets and earn sustainable yields are either scarce or non-existent.
Digital assets on blockchain rails can democratize finance and level the
playing field, giving billions of people the opportunity to invest in the
upside of global asset classes across the world,” Hossain added.

Doo Group Hires New Head
of HR

Anca Ioana
Ionescu has announced her appointment as the Head of HR, Europe at Doo
Group. Her commitment to employee-centric workplaces aligns perfectly with Doo
Group’s ethos. As Ionescu takes on this new challenge, she invites her peers to
join her in shaping a brighter future.

“I
said ‘I doo’ to this incredible opportunity because I am passionate about
creating workplaces where employees come first 😊! At Doo Group, that’s exactly what we do! Putting our talented team of
doo-ers at the heart of everything we create, drives our success, and I’m
elated to be joining this great, terrific team of professionals,” Ionescu
commented.

Block Axes European
Ventures

Block,
spearheaded by Jack Dorsey, is discontinuing Cash App’s Verse brand in the EU
and its Clearpay platform in Spain, France, and Italy due to underwhelming
growth. Dorsey notes that the halted ventures required significant investments
without the anticipated returns. The company acquired the Spanish app Verse in
2020 and the European branch of Afterpay in 2021.

Credit Suisse Cuts Jobs in
Hong Kong

Credit
Suisse plans to lay off nearly 80% of its Hong Kong-based investment banking
staff. As part of their integration with UBS Group, only 20 bankers out of a
100-strong team will retain their positions.

These
drastic cuts follow the UBS Group’s acquisition
Acquisition

Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant’s service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There

Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant’s service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There
Read this Term of Credit Suisse and are
aligned with UBS’s intent to reduce risks in Credit Suisse’s investment
banking.