A small firm got a big boost last week from Elon Musk after he told WhatsApp users to 'use Signal'.
Reuters
Ever since WhatsApp rolled out its new terms of services last week, the app has been caught in a maelstrom of public relations problems. News that WhatsApp would be collecting even more of its users’ data caused waves of users to ditch the platform in favor of other encrypted messaging apps, like Telegram and Signal.
As a result, the Facebook-owned platform is pushing back the deadline for users to accept the new terms of service while simultaneously pursuing all of the avenues for damage-control it can.
Unintended Consequences: The Strange Saga of Whatsapp, Elon Musk, and a Small Medical Device Firm
While WhatsApp’s new terms of service were primarily met with friction by privacy-concerned individuals, the app really ran into trouble when Tesla Co-founder, Elon Musk urged his Twitter followers to “use Signal.”
The response was so powerful that Signal quickly became the #1-most downloaded app in the Apple App Store. In another twist of fate, a number of Mr. Musk’s Twitter followers seemed to think that he was referring to a relatively small medical device firm known as Signal Advance (SIGL).
As a result, the company's share price skyrocketed: over just three days, the price rose from $0.60 to $70.85, an eye-popping 11,708 percent. Moreover, the company’s market cap jumped from roughly $55 million to more than $6 billion.
Of course, the pump did not last: once investors realized that a mistake had been made, the stock price plummeted. However, the stock’s price is currently $13.54, and its market value $1.2 billion. While the drop is almost as shocking as the pump, the current price is still roughly 20 times more than what it was at the beginning of the year.
Other Unintended Consequences
In addition to the Signal Advance debacle, the exodus of users from WhatsApp to other encrypted messaging platforms has had a number of other unintended consequences.
Indeed, “tracking WhatsApp chats of thousands of City workers during the pandemic has been a nightmare for compliance departments,” the publication read. “Now, they have a new enemy to contend with: Signal.”
Whatsapp Claims 'Commitment' and 'Respect' for Users’ Privacy, Continues to Collect Reams of Metadata
In the meantime, WhatsApp is continually trying to regain the trust of its users.
For example, the status update on WhatsApp’s official WhatsApp account reads “We are committed to your privacy,” and invites users “tap to learn more.” The following images contain text explaining that WhatsApp “can’t read or listen to your personal conversation” or see users’ shared locations. The app also reminds users that it “doesn’t share your contacts with Facebook.”
Additionally, AndroidPolice reported that in India (WhatsApp’s largest user market), the app took out a number of front-page ads in some of the country’s top newspapers that read “WhatsApp respects and protects your privacy.”
Pratik Sinha, via AndroidPolice
The ads explain that the update to the terms of service “does not affect the privacy of your messages with your friends and family in any way.” Instead, the ad says, the update only applies to interactions with businesses.
However, none of the ads attempted to explain the amount of metadata that WhatsApp actually does collect.
Compared to Signal and Telegram, the amount is staggering. According to Forbes, WhatsApp’s metadata collection includes information on purchases, location, contact information, user content, identifiers, usage data, and diagnostics.
Forbes, via AndroidPolice
By contrast, Signal collects almost nothing, only its users’ phone numbers, which are not shared unless the user calls or messages someone else on the platform. Telegram collects “metadata such as your IP address, devices and Telegram apps you've used, history of username changes, etc. If collected, this metadata can be kept for 12 months maximum.”
Ever since WhatsApp rolled out its new terms of services last week, the app has been caught in a maelstrom of public relations problems. News that WhatsApp would be collecting even more of its users’ data caused waves of users to ditch the platform in favor of other encrypted messaging apps, like Telegram and Signal.
As a result, the Facebook-owned platform is pushing back the deadline for users to accept the new terms of service while simultaneously pursuing all of the avenues for damage-control it can.
Unintended Consequences: The Strange Saga of Whatsapp, Elon Musk, and a Small Medical Device Firm
While WhatsApp’s new terms of service were primarily met with friction by privacy-concerned individuals, the app really ran into trouble when Tesla Co-founder, Elon Musk urged his Twitter followers to “use Signal.”
The response was so powerful that Signal quickly became the #1-most downloaded app in the Apple App Store. In another twist of fate, a number of Mr. Musk’s Twitter followers seemed to think that he was referring to a relatively small medical device firm known as Signal Advance (SIGL).
As a result, the company's share price skyrocketed: over just three days, the price rose from $0.60 to $70.85, an eye-popping 11,708 percent. Moreover, the company’s market cap jumped from roughly $55 million to more than $6 billion.
Of course, the pump did not last: once investors realized that a mistake had been made, the stock price plummeted. However, the stock’s price is currently $13.54, and its market value $1.2 billion. While the drop is almost as shocking as the pump, the current price is still roughly 20 times more than what it was at the beginning of the year.
Other Unintended Consequences
In addition to the Signal Advance debacle, the exodus of users from WhatsApp to other encrypted messaging platforms has had a number of other unintended consequences.
Indeed, “tracking WhatsApp chats of thousands of City workers during the pandemic has been a nightmare for compliance departments,” the publication read. “Now, they have a new enemy to contend with: Signal.”
Whatsapp Claims 'Commitment' and 'Respect' for Users’ Privacy, Continues to Collect Reams of Metadata
In the meantime, WhatsApp is continually trying to regain the trust of its users.
For example, the status update on WhatsApp’s official WhatsApp account reads “We are committed to your privacy,” and invites users “tap to learn more.” The following images contain text explaining that WhatsApp “can’t read or listen to your personal conversation” or see users’ shared locations. The app also reminds users that it “doesn’t share your contacts with Facebook.”
Additionally, AndroidPolice reported that in India (WhatsApp’s largest user market), the app took out a number of front-page ads in some of the country’s top newspapers that read “WhatsApp respects and protects your privacy.”
Pratik Sinha, via AndroidPolice
The ads explain that the update to the terms of service “does not affect the privacy of your messages with your friends and family in any way.” Instead, the ad says, the update only applies to interactions with businesses.
However, none of the ads attempted to explain the amount of metadata that WhatsApp actually does collect.
Compared to Signal and Telegram, the amount is staggering. According to Forbes, WhatsApp’s metadata collection includes information on purchases, location, contact information, user content, identifiers, usage data, and diagnostics.
Forbes, via AndroidPolice
By contrast, Signal collects almost nothing, only its users’ phone numbers, which are not shared unless the user calls or messages someone else on the platform. Telegram collects “metadata such as your IP address, devices and Telegram apps you've used, history of username changes, etc. If collected, this metadata can be kept for 12 months maximum.”
Rachel is a self-taught crypto geek and a passionate writer. She believes in the power that the written word has to educate, connect and empower individuals to make positive and powerful financial choices. She is the Podcast Host and a Cryptocurrency Editor at Finance Magnates.
Crypto Industry in 2025: Five Defining Trends – And One Prediction for 2026
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Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
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Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
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Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
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We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
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We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
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We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
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Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
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Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
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We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
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We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
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He closes with a clear message: fraud is scaling, and so must the tools that stop it.
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We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
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Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
