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Red Day for ETFs as Bitcoin Leads Over $1 Billion Marketwide Exodus

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A wave of heavy redemptions swept through crypto ETFs, led by an $818 million bitcoin exit that dragged every major asset class into outflows. Ether, XRP, and solana all followed bitcoin lower as risk appetite vanished in unison. Bitcoin Triggers Massive ETF Selloff With Brutal Outflows Across Board The crypto ETF market suffered a decisive […]

Talos Extends Series B to $150M With Strategic Institutional Investors

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Talos raises an additional $45 million in a Series B extension, bringing total Series B to $150 million at a roughly $1.5 billion post‑money valuation. Talos announced a $45 million extension to its Series B, adding strategic investors Robinhood Markets, Sony Innovation Fund, IMC, QCP and Karatage alongside returning backers A16z Crypto, BNY and Fidelity […]

Revolut’s Storonsky switches residency back to UK after filing mistake

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Revolut’s billionaire co-founder and CEO Nik Storonsky has switched his residency back to the UK months after a filing error saw his address changed to the United Arab Emirates, according to the Financial Times.

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In October, a Companies House filing from Storonsky’s family office changed his address to the UAE, leading to “concern” from UK regulators, according to the Financial Times.

However, the family office has now amended that filing, changing his residency back to the UK. Storonsky was born in Russia but is a British citizen.

In an interview last month, cited by the FT, the Revolut chief called stories about his switch to the UAE “fake news,” adding that he splits his time between the UK, Europe, Dubai, and Latin America.

“From the family office’s point of view, since I’m also a director, they used my Dubai address for correspondence,” he explained.

The FT notes that Revolut has not previously said that the UAE residency filing was made in error or tried to correct media reports about the change.

The initial reports of a move in October led regulators to seek assurances from Revolut, reports the FT. In 2024, the fintech giant finally secured a UK banking license after a three year wait but it is still stuck in a “mobilisation” period.

UK chancellor Rachel Reeves has reportedly clashed with Bank of England governor Andrew Bailey over efforts to accelerate Revolut’s authorisation as a fully-licenced bank, with Reeves eager to see the fintech get the greenlight as soon as possible.

Reports that Storonsky had left the UK also raised concerns about the country’s attractiveness to entrepreneurs, coming in the wake of another fintech billionaire, Checkout.com boss Guillaume Pousaz, switching his country of residence from the UK to tax haven Monaco.

Other super-rich residents have also left in the wake of changes to the UK’s non-dom regime and increased taxes on capital gains, which were introduced by Reeves as part of 2024’s Budget.

European Commission Calls on 12 Countries to Implement Crypto Tax Rules

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The European Commission said it will send formal notices to 12 countries for failing to fully implement the EU’s tax reporting rules for digital assets.

In its January infringements package released on Friday, the commission, which serves as the European Union body responsible for proposing legislation and ensuring member states follow certain laws and regulations, said Belgium, Bulgaria, Czechia, Estonia, Greece, Spain, Cyprus, Luxembourg, Malta, the Netherlands, Poland and Portugal would face letters of formal notice “to fully implement the new tax transparency and information exchange rules on crypto-assets.”

Citing EU directives, the commission said it would give the member states two months to respond and comply with the letter or it “may decide to issue a reasoned opinion.”