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According to Crowdfund Insider, digital bank Revolut announced that its trading division, Revolut Trading Ltd, has received an extension of permissions approved by the UK's Financial Conduct Authority (FCA) to launch more comprehensive investment and wealth management services in the UK market.Under the newly approved Variation of Permissions (VoP) license, Revolut can now manage investment portfolios for clients and participate in certain transactions as a principal. This means that the platform will be able to offer leveraged investment products, professionally managed portfolios, and customized wealth management services for high-net-worth users in the future, all of which will be integrated into its mobile application, alongside everyday banking and payment tools.It is reported that Revolut plans to further introduce AI-driven portfolio recommendation tools, continuing its transformation into a "one-stop financial platform." Earlier this year, Revolut officially obtained a full banking license in the UK. Analysts believe that the FCA's approval indicates an increase in its maturity as a regulated financial institution, while also reflecting that fintech companies are accelerating their competition with traditional banks and wealth management institutions.

According to CoinDesk, after the cryptocurrency trading platform Gemini, founded by the Winklevoss brothers, announced its Q1 2026 financial report, its stock price rose over 25% in pre-market trading. The financial report showed that the company's revenue for the quarter increased by 42% year-on-year to $50.3 million, while the net loss narrowed by 27% year-on-year to $109 million, but still exceeded market expectations of a loss of $0.61 per share.The report indicated that Gemini's operating expenses increased by 73% year-on-year to $144.5 million, with employee compensation costs rising by 91%, which included approximately $6.5 million in severance pay; sales and marketing expenses also doubled year-on-year to $19.1 million.The company stated that it is currently driving its business transformation through layoffs, business contraction, and a $100 million Bitcoin injection from Winklevoss Capital Fund, and is seeking to achieve profitability.In February of this year, Gemini closed its operations in the UK, EU, and Australia, laying off about 25% of its staff, and shifted its focus to the U.S. market and prediction market business. In April, the company received approval from the U.S. Commodity Futures Trading Commission for its Derivatives Clearing Organization (DCO) license, officially entering the cryptocurrency prediction market field. Boosted by these developments, the company's stock price has recently rebounded and is now above $6.6.

Gate released the private wealth management report for April 2026. The report indicates that the overall cryptocurrency market is showing a strong fluctuation due to the continuous inflow of ETF funds and expectations of interest rate cuts. In April, BTC and ETH rose approximately 11.9% and 7.3%, respectively. Among them, the net inflow of BTC ETF reached $2.44 billion in a single month, setting a new high in nearly six months, and the total management scale surpassed $100 billion for the first time, indicating a significant rebound in market risk appetite.In terms of product performance, the overall annualized return of Gate's private wealth USDT strategy is approximately 5.6%, continuing its steady performance. The "Interstellar Hedge (USDT)" has achieved a cumulative return of 18.2%, with all 22 cycles generating positive returns, achieving a win rate of 100%; the "Star Core Intelligent Investment (USDT)" has reached a maximum return rate of 9.5% in the past year; the "Gravitational Hedge (USDT)" has maintained a win rate of 100% for two consecutive years, with a maximum drawdown of only 0.01%, demonstrating outstanding risk control capability. Overall, the historical maximum drawdown of each strategy is generally controlled within 0.9%.Looking ahead, the report points out that the BTC RHODL ratio has risen to 4.5, the third highest level in history, while exchange reserves have fallen to a seven-year low, indicating an enhanced trend of long-term holding and continued supply contraction, with a generally optimistic outlook for the medium to long-term market.

According to Bloomberg, Gemini exchange founders Tyler and Cameron Winklevoss made a $100 million "strategic investment" in the exchange, purchasing Class A common stock at a price of $14 per share, with payment made in Bitcoin. The exchange's stock closed at $5.26 on Thursday, rising about 15% in after-hours trading, having fallen over 80% in the past year.Gemini's net loss in the first quarter narrowed to $109 million, compared to $149 million in the same period last year; revenue grew 42% to $50 million, mainly driven by income from services such as credit cards. CEO Tyler Winklevoss stated that the market has severely underestimated Gemini, and this investment will help the company transition from a crypto company to a market company. Gemini went public in September 2025, shortly after which the crypto market began to decline.

Cryptocurrency exchange Gemini released its Q1 financial report, with revenue reaching $50.3 million, a 42% increase from $35.3 million in the same period last year, which led to a 30% rise in its stock price during after-hours trading. The company stated that the growth mainly came from service business, OTC trading, and cryptocurrency-related credit card businesses such as the Gemini Credit Card. Among these, the credit card segment's revenue grew by approximately 300% year-over-year, nearing half of the total revenue.Gemini also disclosed data on its prediction market business for the first time. Since its launch in December last year, this business has attracted over 20,000 users trading contracts, with a total of over 100 million contracts traded, contributing approximately $400,000 in revenue. The company noted that trading volume in April further increased by 78% compared to the previous month. Gemini CEO Tyler Winklevoss stated that the company is gradually transforming from a cryptocurrency trading platform into a broader "market company." Previously, Gemini obtained a CFTC derivatives clearing organization license to support its expansion into derivatives and prediction market businesses.

According to News1, the Korean National Tax Service is piloting the custody and management of seized virtual assets by entrusting them to private cryptocurrency custody institutions for the first time, with plans to run a trial until the end of this year.Major custody institutions in Korea, such as KODA, KDAC, Hecto WalletOne, BDACS, and InfiniteBlock, are all prepared to participate. Although the budget for this pilot project is only about $5,800, the industry believes that obtaining a reference case from the "Korean National Tax Service project" is of symbolic significance.

Bitget launches VIP exclusive ETH wealth management, aimed at VIP users participating in CC PoolX from May 6, 18:00 to May 10, 18:00 (UTC+8). During the event, relevant users can go to the "Easy Coin Earning" section to purchase ETH, enjoying a maximum of 5% APR. The participation period is from May 10, 18:00 to May 15, 18:00 (UTC+8).At the same time, Bitget will allocate a total of 100 NVDAON rewards to VIP users who meet specific trading thresholds based on the deposit time, amount, and holding duration of ETH. For more details, please refer to the Bitget official platform.

According to Politico, Coinbase, Kraken, and Gemini proposed to lawmakers earlier this year to remove a provision in the digital asset bill that requires cryptocurrency trading platforms to only list "non-manipulable" digital assets. The three exchanges are concerned that this would make it more difficult to list small-cap tokens.This amendment occurred after the Senate Agriculture Committee voted to advance the bill in January. The CFTC has long required exchanges to "self-certify" that the product contracts they list are not easily manipulable, but cryptocurrency companies believe this standard does not apply to the spot crypto market. The three exchanges stated that they have been working with Congress for years to push for comprehensive federal regulation of the digital asset market. Coinbase's Federal Policy Director Robin Cook stated that they hope to ensure consumers are protected by standards suitable for spot trading.

Bitget launches VIP exclusive BTC wealth management, aimed at VIP users participating in UMXM PoolX from May 6, 18:00 to May 9, 18:00 (UTC+8). During the event, relevant users can go to the "Simple Earn" section to purchase BTC, enjoying up to 2% APR. The event period is from May 9, 18:00 to May 14, 18:00 (UTC+8).At the same time, Bitget will allocate a total of 100 NVDAON rewards to VIP users who meet specific trading thresholds based on the BTC deposit time, amount, and holding duration. For more details, please refer to the Bitget official platform.

According to market news, the National Assembly of South Korea has passed an amendment to the Foreign Exchange Transaction Act, requiring companies engaged in cross-border transfer of virtual assets to register with the Ministry of Economy and Finance, bringing the cross-border flow of virtual assets such as stablecoins under the management system of the foreign exchange authorities.The amendment newly defines "virtual asset transfer business," covering activities that transfer virtual assets between South Korea and foreign countries through buying, selling, exchanging, etc. Virtual asset exchanges and custodians are also included in the registration scope. The amendment also reorganizes the foreign exchange business system, integrating the original currency exchange, small overseas remittances, and other businesses into "general currency exchange business" and "overseas payment settlement business." For violations of foreign exchange transaction procedures aimed at obtaining improper benefits, the penalty has been increased from fines of less than 50 million won to imprisonment of less than one year or fines of less than 100 million won.

Bitwise CEO Hunter Horsley stated at the Consensus 2026 conference: The market declined in the fourth quarter of last year, and the first quarter of this year also saw a drop. However, the inflow of funds from the U.S. wealth management channel reached the highest record for any quarter in the past eight years. In other words, for financial advisors in the wealth channel, the first quarter of this year was their best quarter for investing in these products. Therefore, when the market fell, they chose to buy the dip.

The latest report released by Bank of America (BofA) indicates that in April, the user growth of Gemini and Claude was robust, while the growth rate of ChatGPT continued to slow down. The report stated: In terms of U.S. web traffic, Google saw a year-on-year increase of 2% to 546 million visits, ChatGPT grew by 30% year-on-year to 34 million visits (equivalent to 6% of Google), Bing decreased by 6% year-on-year to 44 million visits, and Claude increased by 715% year-on-year to 7.1 million visits. In terms of month-on-month growth, Google grew by 1%, ChatGPT grew by 1%, Claude grew by 28%, and Gemini grew by 8%.

Circle officially announced that its USYC asset management scale has surpassed 3 billion USD, making it the largest tokenized money market fund in the world. This milestone indicates the continuous growth of tokenized money market funds, while the role of on-chain collateral in the digital asset market is also steadily increasing.USYC is a product that tokenizes traditional money market funds through blockchain technology, allowing institutional investors to hold, trade, and manage yield-bearing assets on-chain. The fund primarily invests in short-term U.S. Treasury bills and U.S. government securities-backed reverse repurchase agreements.

According to CoinDesk, Galaxy Digital and State Street have jointly launched the tokenized fund "State Street Galaxy Onchain Liquidity Sweep Fund (SWEEP)," which migrates cash management and yield products to the blockchain network, achieving 24/7 on-chain liquidity management.This product allows institutional investors to allocate stablecoins into the fund, maintaining redemption capabilities while earning yields, breaking through the trading hour restrictions of traditional money market funds. The fund is initially built on Solana and plans to expand to Ethereum and Stellar. Galaxy is responsible for the tokenization infrastructure, Anchorage Digital provides custody services, and State Street manages the underlying traditional securities assets.This launch continues the trend of institutional exploration of on-chain cash management. Previously, BlackRock's BUIDL fund validated institutional demand for tokenized U.S. Treasury products, driving continuous capital inflow into on-chain fixed income assets. Currently, State Street manages over $5 trillion in assets, and this move is seen as an important step towards fully tokenizing traditional financial products, while also marking the gradual extension of on-chain financial infrastructure into the institutional cash management sector.

Bitcoin mining company and energy infrastructure platform Hut 8 announced that its subsidiary has reached a $200 million Bitcoin collateralized credit agreement with FalconX, replacing the previous financing arrangement from Coinbase Credit. The new financing has an annual fixed interest rate of 7.0%, a decrease of 200 basis points from the previous 9.0% financing from Coinbase; during the period from December 2023 to March 2025, the financing cost was as high as 10.5%–11.5%, with a cumulative reduction of up to 450 basis points, demonstrating progress in continuously optimizing debt costs.After this refinancing, Hut 8 has approximately 3,300 BTC converted to an uncollateralized state, valued at about $260 million based on the market value as of May 1, 2026, significantly enhancing its balance sheet flexibility and liquidity. Meanwhile, the credit structure maintains key risk control terms, including a limited recourse structure, a no-rehypothecation clause, and a fixed LTV threshold design, preventing additional margin calls triggered by a decline in Bitcoin prices.Hut 8's management stated that this financing not only reduces financing costs but also releases more uncollateralized Bitcoin assets, helping to enhance capital allocation flexibility across different market cycles; FalconX emphasized that this transaction reflects its ongoing expansion capabilities in institutional-level Bitcoin credit solutions.

One of Canada's largest institutional investment management companies, AIMCo, disclosed in regulatory filings on April 30 that it holds an equity stake in Strategy valued at $219 million. This is one of the largest direct investments by a sovereign wealth fund in the crypto "middleware" protocol. AIMCo stated that this move is a strategic positioning for the tokenization of real-world assets (RWA) and automated liquidity provision.The Strategy platform is able to provide yield opportunities for institutional investors that comply with KYC/AML standards, while its governance and equity structure allows it to benefit from transaction fees generated by the inflow of institutional capital. Analysts believe this is also a defensive hedge for AIMCo in the context of declining traditional fixed-income returns. This investment is expected to act as a catalyst for other Canadian and international pension funds.AIMCo manages approximately CAD 160 billion in assets, and this move indicates that large fiduciary institutions believe the technological and regulatory risks in the DeFi space have become manageable. As AIMCo integrates digital asset strategies into its main portfolio, it may trigger a chain reaction in the sovereign wealth sector, advancing global capital management towards transparency and efficiency through decentralized ledgers in the era of "programmable finance."

According to The Block, Gemini's Olympus division has officially obtained a Derivatives Clearing Organization (DCO) license issued by the Commodity Futures Trading Commission (CFTC), allowing it to act as an internal clearinghouse for settlement, risk management, and collateral management without relying on third-party clearing, which is expected to reduce operational costs.Combined with the previously obtained Designated Contract Market (DCM) license, Gemini is now capable of conducting full-stack compliant operations in the fields of futures, options, perpetual contracts, and prediction markets. Currently, Gemini is further applying for a Futures Commission Merchant (FCM) license to complete its full suite of CFTC qualifications and compete directly with Kraken and Coinbase.

Colombia's largest pension management institution, Porvenir, has launched a crypto investment portfolio that allows members to gain indirect exposure to Bitcoin prices by investing in BlackRock's Bitcoin ETF, IBIT.The minimum investment for this product is 100,000 Colombian pesos (approximately $25), aimed at savers aged 18 to 45, and is only available for the voluntary pension system, requiring a personalized risk assessment consultation.

Sky proposes a comprehensive reform of the treasury revenue distribution mechanism. Founder Rune Christensen stated that with Genesis Capital's transition to Grove, Sky has officially ended the genesis capitalization phase, and the previous irregular capital deployment determined by governance has come to an end.The proposal simplifies the treasury management function (TMF) from a five-step conditional waterfall structure to a four-step fixed allocation framework, covering security and maintenance, overall backup capital, smart burn engine, and USDS staking rewards, while eliminating multiple legacy mechanisms. This move comes as Sky is rapidly expanding, with the supply of USDS rising to approximately $11.6 billion, making it the third-largest stablecoin. Previously, the Sky community authorized the deployment of up to $2.5 billion through the stablecoin incubator Obex, and launched the native USDS on Avalanche in April.