CMC Markets Tightens Grip with StrikeX Majority Takeover
CMC Markets (LON: CMCX) has taken full control of blockchain firm StrikeX Technologies, increasing its stake from 33% to 51%. This strategic move grants CMC direct oversight of StrikeX’s tech and product roadmap, aiming to accelerate blockchain-based finance solutions worldwide.
Interestingly, CMC had written off its initial £2.8 million investment in StrikeX last year but stayed committed to its vision. With StrikeX now fully integrated, CMC plans to push forward on regulated tokenized assets, Web3 infrastructure, and next-gen digital finance tools.
“This acquisition marks a big leap toward leading in digital assets,” said CEO Lord Peter Cruddas. The broker also boosted its STRX token holdings to 15 million, signaling deeper commitment.
The takeover complements CMC’s global expansion, including its new Bermuda office and white-label partnerships with Revolut and ASB Bank.
Sucden Financial Doubles Down: Profits Surge & Dividend Jumps 50%
Sucden Financial has posted robust results for 2024, reporting a 54% rise in pre-tax profit to £36.7 million and boosting its dividend by 50% to £15 million. The London-based broker nearly doubled its return on capital to 11.9%, reflecting strong operational momentum.
The firm’s net cash rose to £270.1 million, with operating profit up 81% to £21.5 million. CEO Marc Bailey highlighted broad-based growth and supportive market conditions as key drivers.
Expansion continued globally with a new Singapore branch and German subsidiary, reinforcing Sucden’s push into Asia-Pacific and Europe. The company remains focused on evolving its offerings to meet changing market demands while maintaining solid financial health.
Forex.com Enters Singapore with MAS Approval
Forex.com has launched CFD trading services in Singapore, marking a key Asia-Pacific expansion. Operated by StoneX Financial, the brand secured an MAS licence to offer FX, indices, shares, and commodities to local traders.
“This milestone connects Singapore’s retail traders to thousands of global CFD markets,” said Andy Hudson, Head of Retail – Singapore. Despite a small market size, Singapore remains highly lucrative, with strong per-user revenues and 73,000+ potential CFD investors. StoneX aims to deepen its regional footprint with round-the-clock client support.
Robinhood Plans Diversification Amidst Crypto Volatility
Robinhood saw its cryptocurrency revenue for Q1 2025 reach $252 million, a 30% drop from the previous quarter, although it doubled year-over-year. Despite the decline in crypto trading volume, the company's total net revenue for the first quarter was $927 million, marking a 50% annual increase but falling short of Q4 2024's $1.01 billion. Nevertheless, Robinhood surpassed market expectations for both total revenue and per-share profits.
In response to fluctuating crypto demand, Robinhood is focusing on diversifying its services. CEO Vlad Tenev stated during an earnings call that crypto trading volumes are expected to "go up and down," prompting the company to expand "outside of the crypto business" to reduce reliance on crypto transaction volumes. This diversification strategy includes the launch of traditional bank-like savings accounts and entry into prediction markets. In contrast to the crypto downturn, options revenue showed strength, increasing by 8.1% to $240 million compared to Q4 2024.
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