FT Crypto? Andre Cronje Launches Flying Tulip With $200M Backing

Adrienne Harris, the head of New York's financial regulator, has announced her resignation after four years, leaving behind a significant call for enhanced cooperation on cryptocurrency regulations between the US and the UK. In her final interview, she emphasized the importance of a potential passporting arrangement that could streamline crypto operations across borders. This move is crucial as it highlights the growing need for unified regulatory frameworks in the rapidly evolving crypto landscape, which could foster innovation and investment in both regions.

New York Mayor Eric Adams has decided to end his campaign for a second term, citing challenges such as the lack of public matching funds and ongoing scrutiny regarding his legal history. This decision is significant as it marks the end of his tenure as a crypto-friendly leader in a city that has been navigating the complexities of digital currencies. Adams' departure raises questions about the future direction of New York's approach to cryptocurrency and the political landscape ahead.

Andre Cronje's Flying Tulip has successfully raised $200 million, achieving a valuation of $1 billion. This significant funding will help the platform develop a comprehensive exchange that includes spot trading, derivatives, lending, and stablecoins. This is a notable milestone in the cryptocurrency space, highlighting investor confidence and the growing demand for innovative financial solutions.

Adrienne Harris has announced her resignation as the head of the New York Department of Financial Services after four years in the role. Governor Kathy Hochul has appointed Kaitlin Asrow to succeed her as acting superintendent starting October 18, 2025. This transition is significant as it reflects ongoing changes in leadership within key financial regulatory bodies, which can impact the state's financial landscape and regulatory approach.

Adrienne Harris, the New York regulator, has announced her resignation and emphasized the need for a US-UK crypto passporting system in her final interview. This call for collaboration between the two nations highlights the growing importance of regulatory frameworks in the cryptocurrency space, especially as digital assets continue to gain traction globally. Harris's insights could pave the way for more streamlined regulations that benefit both markets, making it a significant moment for the future of crypto regulation.

Revolut is considering a significant dual listing in both London and New York, potentially valuing the fintech company at $75 billion. This move could enhance its visibility and attract more investors, reflecting the growing confidence in the fintech sector. A successful listing would not only bolster Revolut's financial standing but also signify a positive trend for other tech companies looking to enter the public market.

Bitcoin's price has shown a strong recovery, trading above $114,000 and breaking through key resistance levels. This upward movement is significant as it indicates a potential continuation of the bullish trend, especially if it can surpass the next hurdle at $115,000. Such developments are crucial for investors and traders, as they signal growing confidence in the cryptocurrency market and could lead to increased trading activity and investment.

The SEC, represented by Hester Peirce, has expressed a willingness to engage with issuers of tokenized assets, signaling a more open approach to innovation in the financial sector. This is significant as it could pave the way for clearer regulations and support for emerging technologies, fostering growth and investment in the blockchain space.

Coinbase has raised concerns over stablecoin rewards, accusing banks of engaging in bailout tactics that undermine the integrity of the cryptocurrency market. This situation is significant as it highlights the ongoing tension between traditional financial institutions and the evolving world of digital currencies, potentially impacting investor confidence and regulatory responses.

A new bill in Wisconsin aims to exempt local cryptocurrency users and businesses from the requirement of money transmitter licenses. This move is expected to significantly boost activities like mining, staking, and overall blockchain development in the state. By reducing regulatory burdens, Wisconsin could become a more attractive hub for crypto innovation, potentially leading to economic growth and job creation in the tech sector.

Turkey is taking significant steps to enhance the powers of its Financial Crimes Investigation Board, Masak, in a bid to combat illicit cryptocurrency activities. This move is crucial as it not only strengthens Turkey's regulatory framework but also contributes to global efforts against money laundering in the crypto space. By increasing scrutiny on crypto markets, Turkey aims to create a safer financial environment, which could encourage more legitimate investments and foster trust among users.

Tom Lee, chairman of BitMine, believes that Ether is currently undervalued, referring to it as a 'discount to the future.' He argues that as Wall Street and AI companies increasingly adopt blockchain technology, the value of Ether is likely to rise significantly. This perspective is important as it highlights the potential for growth in the cryptocurrency market, especially with institutional interest, which could lead to broader acceptance and investment in digital assets.