DeFi Technologies has secured regulatory clearance in the United Kingdom for Valour to distribute specific cryptocurrency exchange-traded products to retail investors in Britain. This development unfolds alongside securities class action alleging securities fraud related to the company’s disclosures in late 2025. The filing highlights failures to adequately disclose certain business risks and developments, including delays in implementing the DeFi Alpha arbitrage strategy, competitive pressure from other digital-asset treasury firms, and the increasing likelihood that the company would miss its fiscal 2025 revenue forecast, based on the November 2025 update.
As of the third quarter of 2025, DeFi Technologies reported a revenue decline of nearly 20% and cut its full-year 2025 revenue guidance from $218.6 million to about $116.6 million. Valour subsequently received approval from the UK Financial Conduct Authority and the London Stock Exchange to sell selected ETPs to UK-based retail investors, a channel previously restricted to professional investors on the LSE. The initial products approved are two physically-backed staking ETPs — Valour Bitcoin Physical Staking and Valour Ethereum Physical Staking — designed to provide regulated exposure to Bitcoin and Ethereum, with staking yields reflected directly in the NAV. As of the latest trading, DeFi Technologies’ stock was around $0.7747, giving the company a market capitalization of roughly $320 million; the investor relations page listed cash of $119.5 million and treasury assets of $46.2 million as of September 30, 2025, with basic shares outstanding at 385.8 million.
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