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Revolut profits soars on crypto boom as CEO lifts stake

LONDON (Reuters) -Revolut's pretax profit surged 149% last year to 1.1 billion pounds ($1.46 billion) as the financial technology firm rode a wave in crypto trading and earned more from interest rates and card fees, the company said on Thursday. Revenue at the London-based fintech rose to 3.1 billion pounds, up from 1.8 billion pounds in 2023, it said, driven by income from interest on the back of higher rates, card payments and the company's "Wealth" segment, which includes trading and crypto products. Its pretax profit was more than double the 438 million pounds in 2023.

Markets Surge on Trade and Bitcoin Boost

As I write Wednesday mid-afternoon, all three major stocks indexes are up nicely after a flurry of good news this morning. Let’s begin with Trump: The President said that he has “no intention” of firing Federal Reserve Chairman Jerome Powell He appears willing to take a less aggressive approach toward trade with China, saying that his administration’s tariff rate on China is “very high, and it won’t be that high. … No, it won’t be anywhere near that high. It’ll come down substantially. But it wo