SoFi and Openbank Launch Trading Platforms, Coinbase Backs Away from BVNK, and China Makes a Big Accusation | November 12, 2025
Description
SoFi has launched direct digital asset trading to its millions of US members, becoming the first national bank to do so (1:20 ). In Europe, Santander's Openbank is following a similar path in Spain, rolling out a new service that is fully compliant with the continent's new MiCA regulations (3:03 ).
In M&A news, Coinbase has abruptly backed out of a $2 billion deal to acquire stablecoin startup BVNK, even as the race for payment infrastructure heats up with competitors like Mastercard (4:33 ). Finally, we cover the escalating digital tensions between China and the US, as Beijing accuses the Justice Department of unlawfully seizing $13 billion in Bitcoin, a claim American officials and blockchain analysts dispute (6:18 ).
This is your essential update on the forces shaping what's next in money.
More on stories and articles discussed or referenced in this episode:
Aguado, Jesús. "Santander's Digital Lender Openbank Launches Crypto Trading in Spain." Reuters, 11 November 2025, https://www.reuters.com/business/finance/santanders-digital-lender-openbank-launches-crypto-trading-spain-2025-11-11/.
Hollerith, David. "SoFi Rolls Out Crypto Trading for Retail Customers." Yahoo! Finance, 11 November 2025, https://finance.yahoo.com/news/sofi-rolls-out-crypto-trading-for-retail-customers-130019758.html.
Parashar, Arjun. "China Accuses U.S. of Stealing $13 Billion in Bitcoin." The Street, 11 November 2025, https://www.thestreet.com/crypto/policy/china-accuses-u-s-of-stealing-127k-bitcoin-in-crypto-hack.
"SoFi Bank Becomes the First and Only Nationally Chartered Bank to Launch Crypto Trading for Consumers." SoFi Technologies, 11 November 2025, https://www.businesswire.com/news/home/20251111406660/en/SoFi-Bank-Becomes-the-First-and-Only-Nationally-Chartered-Bank-to-Launch-Crypto-Trading-for-Consumers.
Turakhiya, Parshwa. "China Accuses US of $13 Billion Bitcoin 'State-Backed Crypto Heist'." Benzinga, 11 November 2025, https://finance.yahoo.com/news/china-accuses-us-13-billion-193107770.html.
Weiss, Ben. "Exclusive: Coinbase and Stablecoin Startup BVNK Call Off $2 Billion Acquisition." Fortune, 11 November 2025, https://fortune.com/2025/11/11/coinbase-bvnk-2-billion-deal-falls-through-stablecoins/.
The music in this episode was composed by Liborio Conti, and you can find more of his fantastic work at his YouTube page: https://www.youtube.com/liborioconti.
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