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It looks like 2025 will be a revolutionary year for INFINOX. The CFD Broker is prepared to continue its remarkable 2024 with even greater expansion, innovation, and trust-building initiatives. The mission is clear and simple: redefine what it means to be a leading global broker. Let us Reflect on INFINOX's 2024 Performance INFINOX’s 2024 was nothing short of remarkable. A 400% increase in gross revenue which speaks volumes about how much traders and partners value their relationship with the INFINOX brand. But it’s not just about the numbers—it’s a reflection of the value INFINOX continues to bring to its users. Along with that, there was a 52% increase in Gross Deposits and a 48% increase in volume traded, marking significant progress in client engagement and market presence. With these impressive numbers, is INFINOX setting a new bar that could leave the competition trailing as it aims for even greater figures in 2025? Breaking New Ground: Global Expansion in 2025The world is constantly evolving, and we know that INFINOX is ready to meet new challenges head-on. In 2024, the company expanded into six new regions – but where will INFINOX go next? One thing is clear - this year, INFINOX will focus on further expanding its presence based on demand from traders and partners. Major expos, including the Money Expo 2025 in Mexico, Colombia, and Dubai, will play a key role in strengthening INFINOX’s global presence and connecting with more markets.INFINOX's Alpine Sponsorship Goes Beyond Branding2025 marks the second year of INFINOX’s third-year contract with BWT Alpine Formula One Team. This partnership has already proven successful in elevating INFINOX’s brand and commitment to performance. INFINOX is excited about what the next year holds and looks forward to even more positive results. It’s not just about putting a logo on a car; it’s about embracing innovation, pushing boundaries, and driving excellence in everything INFINOX does.A Look Ahead: What Traders and Partners Can Expect in 2025Innovation is at the core of INFINOX’s vision for 2025 and beyond. From AI-powered insights to advanced risk management tools, INFINOX is preparing to equip traders with next-generation tools to stay ahead in an increasingly competitive market. But for INFINOX, innovation is about more than just technology. It’s about delivering personalized support and localized services to ensure traders succeed, wherever they are. In addition, INFINOX is developing Partners 2.0, a project that will transform its partner relationships. Lee Holmes, Executive Management, stated, "We want to redefine the market, not just lead it. 2025 is the year we push the limits, creating new opportunities for traders and partners worldwide."About INFINOXINFINOX is a market-leading global, multi-regulated online brokerage that allows clients to trade a multi-asset class of CFDs. Founded in 2009, it forms strong relationships with partners and provides world-class service to its clients around the world. Its business is built on its core values of Integrity, Ambition, Excellence, and Inspiration.This article was written by FM Contributors at www.financemagnates.com.
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The Financial Services and Markets Authority (FSMA) hasissued a warning about a rising scam targeting individuals who have fallenvictim to investment fraud. Scammers are using the FSMA’s name and logo tocreate a false impression of legitimacy in an effort to deceive consumers. Thistype of fraud, known as recovery room fraud, involves fraudsters claiming theycan help victims recover money lost through previous investment scams.Scammers Impersonate FSMA for Investment RecoveryThe fraudsters contact individuals who have been defrauded,offering to assist them in recovering the funds they lost. However, to proceedwith this supposed recovery process, the scammers ask for upfront payments,which they claim are necessary for compensation, taxes, or even fines payableto the FSMA. These demands are completely false and are part of the fraudulentscheme designed to extract money from victims without providing any realassistance.In particular, the FSMA has identified that one of thecompanies involved in this scam is named Protectionline. This fraudulent entityclaims to be able to help victims reclaim their lost investments by submittinga claim to the FSMA. To further deceive victims, the scammers often impersonatethe FSMA’s official communication channels, using its name and logo to maketheir activities appear legitimate.FSMA Reports Increase in Investment FraudEarlier, The FSMApublished a dashboard with statistics and trends on investment fraud. Thereport for the second half of 2024 indicates that cryptocurrency scams andfraudulent trading platforms make up nearly half of all reported fraud cases.As reported by FinanceMagnates, in 2024, the FSMA received 2,621 fraud reports, reflecting a 20%increase from 2023. Belgian consumers reported losses totaling €15.9 million,with €12.5 million attributed to fraudulent trading platforms, mostly linked tocryptocurrency investments. An additional €1.6 million was lost to fraudulentportfolio management offers. Throughout the year, the FSMA issued 16 warningsregarding 297 fraudulent entities and 396 websites.Warning on Fraudulent Payment RequestsIt is important for consumers to be cautious when dealingwith any offers or communications related to the recovery of funds lost ininvestment scams. The FSMA advises the public to be aware that these fraudulententities do not have any official connection to the FSMA or any legitimateregulatory body. The FSMA also emphasized that its official website iswww.fsma.be, and individuals should only rely on communication through officialFSMA channels.Consumers are advised not to respond to any offers orrequests for payment that claim to be associated with the FSMA. The regulatorstated: "The FSMA is not competent to recover lost investments or to askfor payment for any such a service. Nor is it competent to demand payment fortaxes. It will never contact investors in this regard. The FSMA will also neverask consumers to provide their financial information or to pay for anyservices."This article was written by Tareq Sikder at www.financemagnates.com.
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FX central limit order book trading provides an effective mechanism for managing market volatility with new platforms promising to further reduce market impact and improve access – but the trading of swaps presents some notable challenges.In 2024, $148 billion average daily notional volume was traded across CME Group’s FX futures, options and cash markets with over $100 billion traded on the EBS Market and futures and options central limit order books (CLOBs).Effective During Volatile PeriodThe growth in trading volumes and number of customers significantly bucked the trend of an overall downturn in FX volatility, with the CME Group volatility index showing that levels were down 10.5% compared with 2023 observes CME Group's Global Head of FX, Paul Houston.“Despite this, the year was punctuated by several large episodic spikes in volatility driven by escalating geopolitical risk, central bank actions and major elections - all of which saw market participants turn to cash, futures and options CLOBs to effectively manage currency risk,” he says.Nick Carey, Global Head of FX Options at TP ICAP also refers to periods of volatility in 2024 being reflected in CLOB trading volumes, while LSEG’s strategic lead - FX spot, Paul Clark, says there was both overall volume growth on spot matching and volume peaks at times of market turbulence, particularly in the second half of the year.“The firm pricing and direct access characteristics of CLOBs make them particularly effective during volatile periods as participants can immediately see and act on real market levels rather than wait for responses to quote requests,” says Alvin Chopra, Chief Operating Officer SpectrAxe.As for how FX CLOB venues have responded to changing market dynamics, Jeff Blanco, Director of Institutional FX Sales Canada at StoneX, references the push for firms to provide access to both listed and OTC FX markets in a ‘one stop shop’ model.Platforms have implemented solutions such as full trade anonymity, automated expiries, consolidated credit relationships and API connectivity says Chopra.“We are seeing venues focus on reducing operational overheads while dramatically expanding available counterparties,” he continues. “The most successful innovations include real-time credit monitoring, automated market surveillance and seamless integration with existing workflows through STP connectivity.”Platforms Adding More FeaturesLSEG added a feature to its spot matching CLOB late last year that allows participants to submit passive orders for six currency pairs at a higher price granularity than the market data is published. The objective is to enable participants to submit orders and get interest filled with reduced market impact and for takers to get the benefit of price improvement.CME implemented quarter pip increments for EUR/USD and AUD/USD on EBS Market and moved to a single liquidity pool for NDFs in 2024. However, perhaps the biggest change is to come in March with the launch of its all-to-all spot CLOB FX Spot+, which will use implied matching technology to create spot prices from FX futures liquidity while allowing resting liquidity in the FX Spot+ order book to be shown in the futures order book.The head of FX trading at BlackRock recently called for FX swaps to be traded via central limit order book. According to Robin Nicholas, Head of Swap Product at 360T, this would represent a positive development for the marketplace, serving as a valuable complement to existing electronic RFS trading.Houston suggests the evolution of the FX swap market is at an important turning point and that the changing interest rate environment has contributed to strong volumes but also highlighted the opportunity to electronify a market traditionally traded on a bilateral and balance sheet-intensive basis.“Moving FX swaps to CLOB trading would likely bring substantial benefits in terms of market efficiency and transparency,” says Chopra. “Similar market structure transformations have consistently delivered major reductions in transaction…
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Bitcoin(BTC) price continues its fourth day of decline, testing the lowest levels innearly a month on Monday, February 3, 2025. Since last Friday, the dropsreached almost 14% at one point, reacting to reports about new tariff plansfrom the new-old U.S. President Donald Trump.The suddenBTC slump also triggered panic in altcoins, causing a temporary flash crash.Let's examine why Bitcoin is falling and what caused such a strong reaction inthe cryptocurrency market.Why Is Bitcoin Price DownToday? Trump's Tariffs Shake MarketsDonaldTrump announced on Sunday that he's imposing 25% tariffs on neighboring Canadaand Mexico. The new rules are set to take effect on Tuesday, and the presidentsimultaneously announced that similar trade fees will soon be imposed on theEuropean Union (EU).Inresponse, Wall Street futures contracts recorded a significant decline: Dowdropped 1.4% (over 600 points), and S&P 500 futures fell 1.9%. Thetech-heavy Nasdaq slid 2.4%. The U.S. dollar automatically surged, rising 1%against a weighted basket of currencies. Given thismarket configuration and panic, Bitcoin's decline was almost inevitable.Bitcoin iscurrently trading at $95,700, down 2.3% compared to Sunday's close. However,the decline was much steeper, reaching almost 7% at one point overnight.Bitcoin is now in its fourth consecutive day of decline, during which it hasfallen about 14% and is testing the $91,281 level, the lowest since January 13."Thewriting was on the wall,” said Nigel Green, the CEO of financial firm deVere Group. “This was entirely foreseeable. Yet, toomany market participants buried their heads in the sand, convinced that theworst wouldn’t materialize. Now, the consequences are here, and investors needto act—fast.”Will Bitcoin Fall? BTC TechnicalAnalysis Shows Strong SupportDespiteMonday's decline triggering panic in the cryptocurrency market and a wave ofleveraged position liquidations, Bitcoin still maintains strong support. Forover two months, BTC has held above $92,000, which marks the lower boundary ofthe current consolidation. This levelhas been tested eight times, most actively at the turn of the year, each timeproviding bulls with a defense line. The last test, appearingas a bullish pin bar two weeks ago, was a signal for growth that pushedBitcoin to new historical highs onJanuary 20 at $109,312.Investorsshould closely watch how Monday’s session closes. If the $92,000 level holdsand the session ends significantly higher—around current levels, for example—itwill signal that buyers are ready to defend this level and accumulate BTC inits vicinity.But what ifa breakout occurs? In that case, the $83,000 area will become critical, as italigns with the 200 EMA, which serves as both support and an indicator that theuptrend has remained intact since October. Only a drop below this movingaverage would signal to me that sellers are gaining momentum.“The markets will remain highly reactivein the coming days and weeks. Investors must position themselves strategicallyto mitigate risks and seize opportunities as assets reprice," Green added.Altcoin Bloodbath: Ethereum,XRP, DOGE and TRUMP DownWhileBitcoin's decline remained within the volatility standards we're accustomed toin cryptocurrencies, thesituation with altcoins was far more severe:Ethereum (ETH) fell over 20%, testing $2,150 and August lowsXRP contracted by more than 30%, dropping to just $1.8, the lowest since DecemberDogecoin (DOGE) declined 25%, testing $0.27Donald Trump's meme coin TRUMP lost about 17%, trading at $17.5, significantly below its Binance debut price of $27Mass Liquidations of $2.3BillionThe scaleof the decline in the cryptocurrency market is perfectly illustrated by leveragedposition liquidation data. Over the last 24 hours, $2.26 billion in leveragedpositions were wiped out, including $1.88 billion in long positions. The mostliquidations were observed not in Bitcoin ($411.8 million) but Ethereum($611.6 million), which experienced one of the most severe drops.The fearand greed index automatically fell to 39 points…
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IG GroupHoldings plc (LSEG: IGG) announced today (Monday) the commencement of the thirdtranche of its share buyback program, allocating up to £50 million for capitalreduction purposes.IG Group Launches £50Million Third Tranche of Share Buyback ProgramThis latestinitiative follows the company's initial £150 million program announcementin July 2024 and a £50 million extension revealed in January 2025.The companyhas appointedMorgan Stanley & Co. International Plc to execute the third trancheindependently, which will run from February 3, 2025, through June 10, 2025. The buybackwill operate within the parameters approved at IG Group's September 2024 annualgeneral meeting, with a maximum of 28,922,621 shares available for purchaseunder this tranche.IG’sprevious share buyback program of this size beganin late 2023 and concluded at the end of July 2024, successfullyrepurchasing £150 million worth of shares. Following that outcome, the companydecided to initiate another program of the same magnitude.IG Group,which provides trading access to approximately 19,000 financial marketsworldwide, recently also announced results for the first half of fiscal 2025,ending on 30 November 2023. The company reported total revenue of £522.5million and net trading volume of £451.7 million.“Our focus remains on executing against the priorities we outlined in July 2024, which are to improve our product, embed a high-performance culture across the business and enhance efficiency,” said Breon Corcoran, IG Group’s CEO. "Current trading has been satisfactory, and we remain confident of meeting consensus revenue and profit before tax expectations in FY25.”APAC Revenue Challenges UK DominanceThe report alsoindicated that the company now earns more over-the-counter (OTC) revenue fromthe APAC and Middle East regions than from its domestic market in the UK andIreland.Interimresults showed that the London-listed broker has reorganized its operationsinto five geographically defined divisions: UK and Ireland, APAC and MiddleEast, United States, Europe, and Institutional and Emerging Markets.The UK andIreland division reported total revenue of £138.3 million, reflecting an 11%increase compared to the previous year. APAC and the Middle East emerged as thecompany’s second-largest market, contributing £131.4 million in total revenue.However, when focusing on OTC revenue, APAC and the Middle East outpaced the UKand Ireland, generating £129.2 million compared to £127.4 million.This article was written by Damian Chmiel at www.financemagnates.com.
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The cryptocurrency market is witnessing a bloodbath. Most coins have lost their value by double digits in the last 24 hours due to US President Donald Trump’s tariffs on Canada and Mexico.A BloodbathAlthough Bitcoin only lost about 6.5 per cent of its value, dropping to $93,600, the situation is grave for altcoins. Ethereum lost over 20 per cent and is now trading below $2,500. XRP, which has seen tremendous gains recently, is now down by over 22.1 per cent.The rising popularity of memecoins could not save them. Dogecoin, boosted by President Trump’s aide and billionaire Elon Musk, is also down by about 23 per cent. Pepe, another meme coin, dropped by almost 26 per cent.It is one of the steepest dives in the cryptocurrency market in recent years. The total liquidations in the crypto market crossed $2.2 billion in the last 24 hours.The futures market wiped out over $600 million in the past 24 hours, specifically in the early Asian hours. CoinDesk pointed out that positions in XRP and DOGE cumulatively lost $150 million, while other derivatives tracking the price of altcoins lost $138 million. Further, Ether-based futures lost $84 million.Trump-Triggered SelloffThe bloodbath was triggered by Donald Trump’s executive order imposing steep tariffs on imports from Canada and Mexico, two neighbouring countries, last Saturday. He also imposed tariffs on imports from China.Although Trump argues that the tariffs will protect American interests, his actions will likely trigger a global trade war. Mexico has already imposed retaliatory tariffs targeting American-made steel, bourbon, and dairy products. Starting Tuesday, Canada will also impose a 25 per cent tariff on $30 billion worth of American imports.Interestingly, Trump’s victory as the 47th US President significantly pushed cryptocurrency prices higher. He also promised to bring in pro-crypto regulations and has even created a working group to explore American crypto policies.This article was written by Arnab Shome at www.financemagnates.com.
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In this week's executive moves roundup, Jean-David Péquignot to lead Deribit's Global Commercial Strategy; Sterling Trading enlists Chris Contrino to boost Global Growth; Finalto's Group CEO Matthew Maloney stepped down; NinjaTrader named Jennifer Marszalek as Chief People Officer.Additionally, Rostro appointed a new Finance Chief and Trading Head; Tradu named Philip Manning as Chairman of the UK Board; while ActivTrades brought Laurent McClintock as Head of Business Development & Partnerships (UK). Jean-David Péquignot to Lead Deribit's Global Commercial StrategyKicking off our executive move coverage this week, the cryptocurrency derivatives exchange Deribit appointed Jean-David Péquignot as Chief Commercial Officer. His experience gained at some of the world's largest banks, including Barclays and Westpac, is expected to strengthen the firm's institutional presence and global market position.Péquignot, who brings over two decades of financial sector experience, will oversee the exchange's global sales and marketing initiatives. The appointment comes as Deribit seeks to capitalize on the growing convergence between traditional finance and cryptocurrency markets.Learn more about Jean-David Péquignot's new role at Deribit.Sterling Trading Enlists Chris Contrino to Boost Global GrowthSterling Trading Tech, a provider of trading technology solutions, enlisted Chris Contrino to its business development team. In the new role, he will focus on the company's international expansion and product diversification efforts.Contrino has substantial industry experience with Sterling, having most recently served as Customer Service Manager at Trading Technologies. His career also includes positions at Eventus and Fidessa, where he specialized in derivatives technology. The Brown University graduate also brings hands-on market experience from his time as a trader at The New York Mercantile Exchange.Show more about Sterling Trading Tech's appointment of Chris Contrino to its business development team.Finalto's Group CEO Matthew Maloney Steps DownIn yet another major executive move this week, Finalto, owned by Hong Kong-based Gopher Investments, parted ways with Matthew Maloney, who stepped down as the Group's Chief Executive Officer. The reason for his departure remains unknown.In a post on their website, Finalto stated, “After ten years with the company, Matthew has chosen to move on to a new phase in his career, concluding a long tenure that has shaped various aspects of the organization. We extend our best wishes to Matthew in his future endeavors.”Discover more about Finalto's latest leadership changes.NinjaTrader Names Jennifer Marszalek as Chief People OfficerElsewhere, NinjaTrader onboarded experienced HR leader Jennifer Marszalek as the new Chief People Officer. The company is eying Marszalek's experience in building teams, which is expected to play a key role in its continued success.The appointment comes as NinjaTrader continues its rapid expansion, bringing in top executives to support its growing user base. CEO Martin Franchi highlighted Marszalek's strong background in HR and talent management across various industries.Explore more about NinjaTrader's appointment of Jennifer Marszalek as the new Chief People Officer.Rostro Names New Finance Chief and Trading HeadRostro Group, the parent company of the popular retail trading brand Scope, appointed two executives to senior positions. Demetra Charalambous has joined as Group Finance Director, while Sammy Christou has been named Managing Director of Systematic Market Making.Charalambous, who will be based in Limassol, has held senior finance positions in the trading industry for the past decade and is a Fellow of the Association of Chartered Certified Accountants. She has worked as Head of Finance at Binance for the past three years. Previously, she held a similar position at eToro.Highlight more about Rostro's new Group Finance Director and Managing Director of Systematic Market Making.Tradu Names Philip Manning as Chairman of the…
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The Cyprus Securities and Exchange Commission (CySEC)issued a warning about a new list of online trading platforms operating withoutauthorization. In a notice issued today (Friday), the regulatorcautioned investors against engaging with the listed firms as they lack thenecessary licenses to provide investment services. In the latest advisory,CySEC highlighted the ongoing risks associated with unregulated entities in thefinancial sector.A Growing List of Unlicensed EntitiesCySEC has identified several websites that are notauthorized under Cyprus’s financial regulations. The flagged domains includeparagonsigs.com, monaxa.com, efinancepro.com, enxutto.net,admiraleu-brokerz.com, investfrx.com, vistatradex.com.According to the watchdog, the others areadmiralsunited.com, fehelmante.pro, hollytradebase.com, xtbtradingco.com, andhoxtoncapitals.com. These platforms reportedly do not have the requiredauthorization under the regulation that governs investment services andactivities in Cyprus."The Cyprus Securities and Exchange Commission (‘CySEC’)wishes to inform investors that the following websites do not belong to anentity which has been granted authorization for the provision of investment services and/or the performance of investment activities, as provided for inArticle 5 of Law 87 (I)/2017," the regulator wrote. CySEC urged investors to verify a firm’s licensingstatus before engaging in any financial transactions. Investors can check theregulator’s official website to confirm whether a company is authorized tooffer investment services. This measure aims to prevent potential financiallosses and protect the integrity of the market.The Risk of Unregulated Trading PlatformsEngaging with unlicensed investment firms exposestraders to significant financial risks, including fraud and the inability torecover lost funds. Without regulatory oversight, these platforms operatewithout accountability, leaving investors vulnerable to scams and misleadingpractices.CySEC continues to monitor financial markets and takeaction against unauthorized entities. By maintaining transparency and issuingregular warnings, the regulator seeks to ensure that investors make informeddecisions and avoid potential pitfalls in online trading. Checking CySEC’s official website for updated lists ofauthorized firms is critical in safeguarding financial interests.This article was written by Jared Kirui at www.financemagnates.com.
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Once dismissed as a joke, Dogecoin (DOGE) is nowmaking its way into institutional finance. Grayscale, a major US-based assetmanagement firm, has launched a Dogecoin Trust, arguing that the token’s lowtransaction fees and fast processing times make it an effective tool forfinancial inclusion. This could boost the evolving perception of DOGE, whichhas traditionally been seen as a speculative asset rather than a seriousinvestment vehicle.This latest development has boosted the memecoin, according to data from CoinMarketCap. Although the price is down 7% in the past week, it has seen a 3% increase in the daily chart, trading at $0.336 atthe time of publication.We are proud to announce a new single-asset crypto investment fund, Grayscale Dogecoin Trust $DOGE.much wow, big exciteAvailable to eligible accredited investors.Read the press release: https://t.co/tV5TC8uoHV pic.twitter.com/cqqJxVRkIC— Grayscale (@Grayscale) January 31, 2025Grayscale’s Bet on DogecoinGrayscale announced the launch of its Dogecoin Truston Friday, further expanding its suite of crypto investment products. Theintroduction of this trust comes amid a broader shift in the crypto investmentlandscape. The Connecticut-based firm is among the companies alsopushing to list spot XRP exchange-traded fund on US stock exchanges. Recently,the company reportedly filed an application with the SEC to convert its XRPTrust into an ETF.Since Donald Trump’s recent election victory, severalfund managers have filed for Dogecoin ETFs, a move that would have beenunlikely under the previous administration. With a market capitalization nearing $50 billion, DOGEremains the largest memecoin, and institutional products like trusts and ETFscould drive further capital inflows.Dogecoin’s price has been highly volatile in recentmonths. In early January, DOGE traded around $0.31 before surging above $0.40by mid-month, peaking just before Trump’s inauguration. However, following hisswearing-in, the token dropped back to $0.30 before stabilizing at around$0.32.Dogecoin and the ETF RaceOne of the biggest catalysts for DOGE’s price could bethe approval of a spot Dogecoin ETF. Bitwise recently filed an application withthe US Securities and Exchange Commission for a DOGE-basedexchange-traded fund. The SEC previously approved Bitcoin ETFs, which initiallytriggered short-term corrections before leading to long-term priceappreciation.Market participants are now watching how the SEC,under new leadership, will approach DOGE ETFs. According to the prediction platformPolymarket, there is a 56% chance that such an ETF will receive approval in2025. If it does, the question remains whether the news willspark a rally or trigger a sell-off, similar to what happened with BitcoinETFs.This article was written by Jared Kirui at www.financemagnates.com.
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Outlight, the AI-powered Web3 investment ecosystem, is changing the way investors navigate the complexities of the crypto landscape. By combining venture capital expertise with cutting-edge AI, Outlight empowers both retail and institutional investors to uncover opportunities traditionally reserved for the elite. Outlight offers the tools to transform data into actionable insights, making it the L2 for data-driven investments.Layer 2 for Data-Driven Investments Making DeFAI a RealityOutlight seamlessly integrates Big Data Aggregation, AI-driven analysis, and Social Media Intelligence into a single, cohesive platform. By sitting atop a network of high-quality data providers, Outlight delivers real-time insights that bridge the gap between fragmented information and profitable opportunities. This unique approach positions Outlight at the forefront of the emerging DeFAI (Decentralized Finance + Artificial Intelligence) trend.First to Know, First to InvestBeing ahead of the curve can make all the difference in crypto. Outlight’s tools are designed to give investors a competitive edge by enabling them to act on trends and insights before they become widely recognized. Outlight’s ethos is simple: “First to know. First to invest. You are here to be the first.”Big Data Aggregation, AI-Driven Insights, and Social Media IntelOutlight’s proprietary AI bots aggregate vast amounts of data from social channels, Telegram groups, and on-chain sources at an unparalleled scale. This data is then synthesized into actionable intelligence, empowering users to make informed investment decisions quickly and confidently. Social media intelligence and KOL (Key Opinion Leader) tracking further enhance the platform’s ability to uncover hidden gems in the market.Cutting Through the NoiseCrypto markets are notoriously noisy, and filled with hype and misinformation. Outlight cuts through the clutter to deliver clear, VC-vetted insights. Users can identify their next 10x opportunity without going through walls of data. Whether it’s through AI-powered analysis, token-gated investor groups, or seamless trading bots, Outlight simplifies the investment process for everyone.Empowering Retail and Institutional Investors AlikeOutlight’s unique approach ensures that both retail and institutional investors have access to the same high-quality tools and opportunities. Through partnerships with industry-leading data providers, Outlight aggregates and analyzes data at a scale unattainable for most. Its token-gated community fosters collaboration, allowing retail investors to co-invest alongside institutional players with transparency and trust.A Glimpse Into the Future – Real AI Agents for InvestingPlatforms like Outlight use DeFAI’s power to deliver user-friendly investment solutions. Outlight’s AI-driven tools identify lucrative opportunities in real-time, allowing users to implement complex strategies with minimal effort. Beyond just managing investments, Outlight helps educate users about DeFi and AI, empowering them to make more informed decisions. In this way, DeFAI and platforms like Outlight are shaping a future where decentralized finance is not only more accessible but also more profitable, secure, and reliable for all participants.Outlight is a movement to democratize access to high-quality market intelligence. By turning fragmented data into actionable insights, Outlight ensures that investors at every level can act smarter and faster. This article was written by FM Contributors at www.financemagnates.com.
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NVIDIA’s market dominance is under threat as China’sDeepSeek unveils cost-effective AI models, triggering investor concerns andpolicy debates.Investor Jitters: Why NVIDIA’s Stock CrashedNVIDIA’s stock took a historic17% plunge, erasing nearly $600 billion in market capitalization—thelargest single-day loss in U.S. history. Investors, who had bet big on NVIDIA’scontinued AI dominance, are now questioning whether that lead is slipping away.The culprit? DeepSeek, a Chinese AI startup,has emerged with powerful, cost-effective Artificial Intelligence (AI) models that could weaken NVIDIA’sstranglehold on the market.For years, NVIDIA has been the backbone of AI, providing thehigh-powered GPUs that fuel AI innovation. But now, investors are wondering: IfChinese firms like DeepSeek can develop cutting-edge AI without NVIDIA’spremium chips, is the company’s growth story in jeopardy?DeepSeek: A Threat to NVIDIA’s Business Model?DeepSeek’s latest AI model, the R1, is making waves for its competitiveperformance and affordability. Unlike previous AI models that rely heavily onNVIDIA’s expensive GPUs, DeepSeek’s approach appears far less dependent onNVIDIA hardware. This could mark a seismic shift in AI economics—and investorsare taking notice.While NVIDIA still leads the market in AI chips, DeepSeek’sbreakthrough suggests that alternatives are emerging. If companies find ways todevelop advanced AI without paying a premium for NVIDIA’s hardware, demand forNVIDIA’s products could decline. That fear is driving the current sell-off🚀 DeepSeek-R1 is here!⚡ Performance on par with OpenAI-o1📖 Fully open-source model & technical report🏆 MIT licensed: Distill & commercialize freely!🌐 Website & API are live now! Try DeepThink at https://t.co/v1TFy7LHNy today!🐋 1/n pic.twitter.com/7BlpWAPu6y— DeepSeek (@deepseek_ai) January 20, 2025For a market that’s increasingly price-sensitive, this is agame-changer. The mere fact that a Chinese company can produce competitive AImodels without relying heavily on NVIDIA’s advanced chips has sent shockwavesthrough the tech world. It raises a glaring question: If DeepSeek can buildpowerful AI without NVIDIA’s high-end hardware, do companies really need tospend billions on NVIDIA’s GPUs?Wall Street’s Verdict: Uncertainty AheadThe financial markets reacted brutally to the news. NVIDIA’s dramaticstock decline dragged down the entire AI sector, with companies like AMD andTSMC also seeing steep losses. The core issue for investors isn’t justDeepSeek—it’s what DeepSeek represents: a possible shift in AI innovation awayfrom NVIDIA’s ecosystem.Some analysts believe this sell-off is an overreaction. NVIDIA remainsdeeply entrenched in AI development, and most of the industry still relies onits hardware. However, perception drives markets, and right now, the perceptionis that DeepSeek is a real threat.so you’re telling meDeepseek cooked Nvidia…using nvidia’s own chips? can’t make this up 🤣💀 pic.twitter.com/PYXIfy7iOf— Budhil Vyas (@BudhilVyas) January 31, 2025Some analysts believe this sell-off is an overreaction. NVIDIA remainsdeeply entrenched in AI development, and most of the industry still relies onits hardware. However, perception drives markets, and right now, the perceptionis that DeepSeek is a real threat."If it’s true that DeepSeek is the proverbial 'better mousetrap,'that could disrupt the entire AI narrative that has helped drive the marketsover the last two years," said Brian Jacobsen, chief economist at AnnexWealth Management, in aninterview with Reuters. "It could mean less demand for chips, lessneed for a massive build-out of power production to fuel the models, and lessneed for large-scale data centers."“DeepSeek has levelled the playing field,” saidStephen Yiu, chief investment officer of Blue Whale Growth. Last month thefirm reduced its exposure to US tech companies due to their concern aroundtheir focus on AI. The biggest US tech companies “have had monopoly access toAI — the entry ticket price was in the billions of dollars, otherwise there wasno chance…
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After Bitcoin and Ether, companies are now pushing to list spot XRP exchange-traded funds (ETFs) on US stock exchanges. Recently, Grayscale Investments filed an application with the Securities and Exchange Commission (SEC) to convert its XRP Trust into an ETF.If approved, the XRP ETF will be listed on the New York Stock Exchange (NYSE).Grayscale Follows Its Proven PlaybookThe crypto asset manager previously converted its Bitcoin and Ethereum investment trusts into ETFs listed on public exchanges. Now, it is doing the same with XRP.Grayscale operates its XRP Trust as a Delaware statutory trust. As of today (Friday), it manages over $16 million in XRP. The proposed ETF will primarily hold XRP, tracking its price returns while accounting for operational fees, offering investors direct exposure to XRP's performance.CoinShares and Bitwise are two other companies that have filed for XRP-based ETFs. Although these two companies have submitted S-1 filings with the SEC, the regulator has yet to decide. Many companies are also pushing for the approval of Solana and Dogecoin spot ETFs.More and More ETF Applications Are ComingWhile the SEC took years to approve spot Bitcoin ETFs, the simultaneous approval of 11 spot Bitcoin ETFs opened the floodgates for such mainstream crypto products. Within months, approval for spot Ether ETFs followed, and now companies are considering listing other spot crypto ETFs.Ripple also fought a long battle with the US SEC over the status of the XRP token, which the regulator alleged was an unregistered security. Although a court ruled that XRP offerings to retail customers were legitimate, the company violated US laws with its institutional offerings and was fined $125 million. The regulator, however, challenged the court’s decision, seeking a higher penalty.The crypto industry now expects progressive policies under a new White House administration. Earlier this month, Ripple Labs President Monica Long stated that a spot XRP ETF could “soon be a reality” under the new US administration.Also, with Gary Gensler out and a new chair in place, the SEC is expected to drop its fight against Ripple.Recently, Ripple also secured two more Money Transmitter Licenses from two US states, one from the New York and the other from Texas.This article was written by Arnab Shome at www.financemagnates.com.
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The crypto regulatory landscape in the US has shifted, and Kraken is seizing the moment. The crypto exchange reintroduced on-chainstaking for American customers, marking a major comeback after regulatorypressure forced it to shut down staking services in 2023. With 17 assets available for staking, includingEthereum (ETH) and Solana (SOL), Kraken’s move signals renewed momentum forcrypto participation in the US.Kraken Relaunches Staking for U.S. ClientsKraken announced that customers in 39 US states andterritories can now access its staking services through Kraken Pro. Theplatform offers bonded staking, where users lock their tokens for a specificperiod to help secure blockchain networks and earn rewards in return.The move comes nearly a year after Kraken settled withthe Securities and Exchange Commission (SEC) in February 2023, agreeing to pay$30 million and halt its staking-as-a-service program. At the time, the SECargued that Kraken had offered unregistered securities through its stakingplatform.The return of Kraken’s staking services reflects abroader change in the U.S. regulatory climate for crypto. The previousadministration’s stringent approach, particularly through the SEC, had put manycrypto firms under scrutiny. Now, with a shifting political landscape, Kraken andother industry players are exploring ways to reintroduce curtailed services.Kraken restores crypto staking for U.S. customersKraken has reintroduced on-chain crypto staking for U.S. clients in 39 states and territories, allowing them to stake 17 assets, including $ETH, $SOL, $DOT and $ADA. According to CoinDesk, the move comes after Kraken shut down…— CoinNess Global (@CoinnessGL) January 30, 2025“Launching this new staking product in the US is anoverwhelmingly positive development, not just for Kraken but also for theentire U.S. crypto space,” commented Mark Greenberg, Kraken Global Head ofConsumer. “We are excited to bring back a brand new productenabling US clients to resume staking with Kraken and play a significant rolein bolstering the underlying security of blockchain networks.” Available Staking AssetsKraken’s new staking product allows users to delegateassets to validators, who manage transaction validation and block production.In return, clients receive rewards minus fees.To address concerns about risks associated withstaking, Kraken has also introduced slashing insurance from a third-partyprovider, offering additional protection for US customers.Kraken is a centralized exchange offering on-chainstaking that launched services in 2019. It also became an early adopter ofEthereum restaking, supporting projects like EigenLayer.With proof-of-stake consensus mechanismsbecoming increasingly dominant in the crypto world, staking remains a crucialway for investors to participate in blockchain security while earning passiverewards. Kraken’s reintroduction of staking in the U.S. couldpave the way for other exchanges to follow suit, reshaping the regulatorylandscape for crypto services.This article was written by Jared Kirui at www.financemagnates.com.
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The US Securities and Exchange Commission (SEC) has approvedTradeweb Markets Inc.'s (Nasdaq: TW) application to register its swap executionfacility, TW SEF LLC, as a security-based swap execution facility (SBSEF) underRegulation SE.SEC Approves TW SEF for CDS Trading"This regulatory approval represents a significant stepforward in fostering more transparency for institutional single-name CDSmarkets," Elisabeth Kirby, Managing Director, Head of Market Structure atTradeweb said. The approval follows new SEC requirements that mandatetrading platforms facilitating security-based swaps (SBS) to register as eitheran SBSEF or a national securities exchange. With this designation, TW SEF cannow facilitate institutional trading of single-name credit default swaps (CDS)under the updated regulatory framework.TW SEF Accounts for 52% SEF VolumeTW SEF currently accounts for 52% of industry-wide swapexecution facility (SEF) volume. In 2024, it reported over $150 trillion intotal traded volume and an average daily volume of $590 billion. Tradeweb’sbroader derivatives business recorded an average daily volume of $783.3 billionin rates derivatives.Tradeweb Launches MTF, Supports Derivatives TradingTradeweb has been active in electronic derivatives tradingsince 2005. The company launched its multilateral trading facility (MTF) in2007 for swaps trading in the EU and UK. In 2013, it introduced TW SEF inresponse to U.S. regulations requiring certain swaps to be cleared and tradedon regulated platforms."As a pioneer in electronic derivatives trading and aleading electronic trading platform for credit markets, Tradeweb is uniquelypositioned to work with regulators on initiatives that enhance transparency,efficiency and liquidity in these markets while ensuring compliance withevolving regulatory standards," Kirby added.This article was written by Tareq Sikder at www.financemagnates.com.
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easyMarkets saw a sharp rise in cryptocurrency trading inthe fourth quarter of 2024, with Bitcoin surpassing $100,000. This price surgedrove strong interest from traders, making crypto the dominant asset class onthe platform.Trading volumes for cryptocurrencies tripled compared to thethird quarter, reflecting increased market activity and investor confidence.Bitcoin, Nasdaq100 Drive easyMarkets Q4 Growth"This quarter demonstrated the agility of our clients,"said Nikos Antoniades, Chief Executive Officer at easyMarkets. Several factors contributed to this growth. Institutionalinvestors played a major role, with companies like MicroStrategy announcingplans to raise $42 billion for crypto purchases. The re-election of a pro-crypto US president further fuelledoptimism, as traders anticipated a more favourable regulatory environment.Additionally, Bitcoin’s price momentum and growing adoption encouraged higherparticipation.Gold Shines amid VolatilityWhile crypto took centre stage, traditional assets like goldand the Nasdaq100 remained key trading options. Gold retained its status as asafe-haven asset amid economic uncertainty and natural disasters. The Nasdaq100 attracted traders with strong performance inthe tech sector. These assets provided stability in an otherwise fast-movingand volatile quarter."From crypto’s rapid growth to gold and Nasdaq100’sreliable performance, our traders skilfully navigated these market shifts. AteasyMarkets, we remain focused on providing the tools and insights that helpthem succeed in a constantly changing environment," Antoniades added.easyMarkets Partners with Real Madrid AgainMeanwhile, easyMarketshas renewed its partnership with Real Madrid C.F, continuing its role asthe club's Official Trading Partner, as reported by Finance Magnates. Thecollaboration, which began in 2020, was confirmed at a recent event witheasyMarkets CEO Antoniades and Real Madrid’s Director of InstitutionalRelations, Emilio Butragueño. The partnership seeks to leverage Real Madrid’s globalfollowing to support easyMarkets’ efforts in expanding access to trading. Thisrenewal coincides with easyMarkets obtaining an FSCA license in South Africa,complementing its existing regulatory approvals from CySEC, ASIC, FSA, and FSC.This article was written by Tareq Sikder at www.financemagnates.com.
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"One of the biggest challenges we faced as a new brand was building trust and recognition in a competitive market," Ernest Yiu, Vice President of Marketing at Ultima Markets, told Finance Magnates. He added: "Traders often gravitate towards established names out of habit, which means we had to work harder to prove our reliability, transparency, and commitment to providing exceptional service."Increasing Brand ExposureUltima Markets was founded in 2016 but is still a new brokerage brand in the crowded forex and contracts for differences (CFDs) trading space. The main challenge for new market entrants is building brand value.While most brokers choose sports sponsorship to strengthen their brand, Ultima Markets took a different path. It recently became the first CFDs broker to join the United Nations Global Compact to support its initiatives towards sustainability."The purpose of this kind of campaign or collaboration," Yiu added, "is to engage with our users and increase brand exposure in order to build trust and confidence among our audience and existing clients."We’re proud to join the UN @globalcompact🌍 Hear from our Board Advisor on why this step matters and how we’re driving corporate sustainability forward.Watch full video here: https://t.co/kG2nWHCy40#UNGlobalCompact #Sustainability #CorporateResponsibility pic.twitter.com/MWrtlWJV7K— Ultima Markets (@UltimaMarkets) December 17, 2024However, the broker is also enhancing its offerings to traders. "We focus on creating a robust infrastructure that offers traders fast execution, low spreads, and excellent customer support," Yiu added. "We built a strong online presence through educational content, social media, and events that helped us connect with traders and showcase our expertise."Intrestingly, Finance Magnates recently reported that the offshore unit of a Russian forex broker rebranded as Ultima Markets. With this, now there are two Ultima Markets brand in the market. Although Yiu's Ultima Markets highlighted that it will "take all necessary measures, including legal recourse, to protect" its brand.APAC Has a Growing Trading PopulationUltima Markets operates with licences in Cyprus, South Africa, and Mauritius, enabling the broker to operate in the European Union as well as many emerging markets. Yiu highlighted that although "APAC is a major region for all brokers due to its growing trading population,” his company also sees “significant opportunities in Europe, Africa, and Latin America.""We tailor our services to meet the unique needs of different regions, providing language support, localised payment options, and region-specific educational content. Developed markets bring experienced traders who seek advanced tools and strategies," said Yiu, adding: "Emerging markets offer opportunities to educate and grow a new generation of traders."According to Similarweb, almost a quarter of Ultima Markets website' traffic comes from Malaysia, followed by Italy and Japan. Two emerging countries, Vietnam and India, also contribute significantly to the incoming traffic to the broker's website.Yiu further pointed out opportunities in both emerging and well-established markets, saying: "While emerging markets offer significant potential, the UK and European markets remain key regions with advanced trading communities."Elaborating on Ultima Markets' strategy, he said: "In developed markets, we focus on building deeper relationships through affiliate programmes, IB partnerships, and premium educational content. Emerging markets require a different approach, focusing on beginner-friendly tools like copy trading, webinars, and simplified platforms to make trading accessible.""Both markets are very important, and our strategy is to provide tailored solutions that address the unique needs of each market.""AI Is an Essential Part of Our Operation"Nowadays, brokers are also actively adopting artificial intelligence (AI) in their operations, and Ultima Markets is no exception. "AI is becoming an essential part of our operations, particularly…
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Eric Wang, who formerly worked with multiple retail trading brands, has recently joined cryptocurrency prime broker LTP as its Head of Australia. According to a LinkedIn post by him, he already joined the new role last year.LTP is a Hong Kong-based prime broker for digital assets in the Asia-Pacific (APAC) region. It claims to bridge centralised exchanges (CEXes) and decentralised exchanges (DEXes) for institutional clients worldwide.A Long Career with Brokers and Liquidity ProvidersWang is also a seasoned executive in the retail trading industry. He joined LTP from CBCX, a liquidity provider for CFDs on forex, precious metals, commodities, and indexes, where he served as the Chief Operating Officer for almost two years.According to his LinkedIn profile, he entered the industry in 2005 as a CFD/FX Execution Dealer at CMC Markets. He then became a Trading Risk Manager and later a Senior Business Operations Analyst before leaving the broker after spending over 11 years there. He then joined the Sydney offices of Invast Global, now 26 Degrees, where he spent about three years and left as the Director, Head of Liquidity and Execution.Finance Magnates earlier reported that 26 Degrees would surrender its Cyprus Investment Firm licence and had also seen the departure of multiple top executives, including its EMEA CEO and Chief Commercial Officer.Wang also worked at the Sydney offices of CLSA Premium for three years. He joined as the Head of Products and Dealing and was later promoted to Executive Director (ED). At the time of his departure from that firm, he was the Country Manager and Group Head of Products and Dealing.This article was written by Arnab Shome at www.financemagnates.com.
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One of thecompanies within the Polish fintech group Cinkciarz.pl has announced theclosure of its Polish branch. Conotoxia Ltd., headquartered in Cyprus andlicensed by CySEC, provides retail investors with FX and CFD trading services.This movecomes at a time when Cinkciarz.pl, an online currency exchange provider, hastemporarily suspended its operations. The company is currently underinvestigation by Polish prosecutors, who are examining complaints from 1,200fintech clients.Conotoxia Ltd. BranchClosure DetailsConotoxiaLtd., which provides FX/CFD trading services through invest.conotoxia.com, sentan email to its clients last Friday announcing the closure of its Polish branchand related changes to documentation, including service terms, complainthandling policies, and KYC requirements."Pursuantto clause 27.7 of the Terms and Conditions, a Client who does not accept theamendments may, prior to their effective date, object and terminate theAgreement with a notice period or with immediate effect," the emailstated.Followingthe Polish branch closure, Conotoxia Ltd. clients will likely be served by thecentral office in Cyprus, located at Chrysorroiatissis 11, 3032 Limassol. Thecompany has held a Cypriot regulator's license for FX and CFD services sinceSeptember 2017.AlthoughConotoxia Ltd. operates independently from the Poland-registered Cinkciarz.plsp. z o.o. and Conotoxia sp. z o.o., the branch closure appears potentiallyconnected to the recent troubles of the Polish fintech, including the loss ofits payment license in October 2024.Who's Who in Conotoxia Holding? Given the identical names of its subsidiaries, it can be confusing to determine which company is responsible for what. Below is a brief explanation of their respective operations:Cinkciarz.pl Sp. z o.o. (Poland): Main currencyexchange platform operating since 2010, offering online FX services and SWIFTtransfersConotoxia Sp. z o.o. (Poland): Payment institutionproviding money transfers across Europe and multi-currency payment cardsConotoxia Ltd. (Cyprus): CySEC-regulated broker offeringFX and CFD trading services to European clients through invest.conotoxia.complatformConotoxia, Inc. (USA): Money transfer service providerlicensed in multiple US states, facilitating transfers between US and EuropeFinanceMagnates hasreached out to Conotoxia Ltd. for comment but has not received a response atthe time of publication.Conotoxia Planned to Sue11 Banks for $1.6 BillionIn recentmonths, numerous press releases from Cinkciarz.pl and its parent company,Conotoxia, indicated that the fintech believed it was being unfairly targetedby banks, the media, and regulatory authorities. Consequently, the Polishfintech announced plans to pursue legal action against 11 banks, seeking atotal of $1.6 billion in damages.Simultaneously,the company intended to take legal action against the regulatory body whilealso attempting to secure a banking license to maintain its operations. Bymid-November, Conotoxia reported that it had reimbursed 60% of its customersfollowing the loss of its license and projected that all outstanding debtswould be settled by the end of 2024.However,skepticism remains among affected clients. A Facebook group named"Defrauded by Cinkciarz.pl," which has nearly 9,000 members, featuresnumerous individuals claiming they have yet to recover their funds.Prosecutors InvestigateCinkciarz.pl Following 1,200 Customer ComplaintsWhilediscussions about Conotoxia's lawsuits have quieted, the Polish prosecutor'soffice has launched its own investigation into the company. Authorities havefrozen 328 of Conotoxia’s accounts as part of an ongoing probe into allegationsof fraud and the misappropriation of customer funds. Preliminary findingssuggest that the frozen accounts may not contain enough money to cover allcustomer claims.Furtherinvestigations revealed that Marcin Pióro, the company's CEO, holdsapproximately 492 bitcoins valued at 196 million zlotys ($50 million) onpersonal storage devices, according to a report by Rzeczpospolita lastmonth.This…
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BKN301 Group, a London-based Banking-as-a-Service (BaaS) provider, has designated its Qatar office as the regional headquarters for its Middle East and North Africa operations. This positions the company to capitalize on the region's rapidly expanding digital payments landscape.BKN301 Sets Up Qatar HubThe movecomes as Qatar's digital investment sector is poised to reach a transactionvalue of $477 million in 2025, with the country's digital payments user baseexpected to expand to 2.87 million by 2028."Ourdecision to establish the Qatar office as the regional headquarters of the MENAregion reflects the nation’s rising position as a fintech innovation hub,"said Stiven Muccioli, Founder and CEO of BKN301. "Asthe regional fintech sector offers significant opportunities for economicdiversification, we reinforce our commitment to advancing Qatar’s vision tofoster a robust digital economy."The Qataroffice, now fully operational under the leadership of Country Leader Jordan A.Fabbri, will serve as the central point for delivering BKN301's BaaSOrchestrator platform across the MENA region. Theplatform connects multiple core banking systems, payment processors, andthird-party services through a modular design. It reduces operational costs byup to 50% for core banking, card issuing, and payment processing services.Thecompany's expansion aligns with Qatar Central Bank's fintech initiatives andthe country's National Vision 2030, which emphasizes economic diversificationand technological advancement. Thecompany made a similar move in 2023 when it opened a new office in Cairo,Egypt."OurBaaS Orchestrator platform will enable seamless integration of financialproducts for regional companies," Fabbri noted. "With Qatar's digitalpayment usage continually growing, we are strategically positioning ourselvesto take advantage of the region's rising demand for innovative financialservices."Worldline Deepens BKN301AllianceIn July, BKN301announced the expansion of its partnership with Worldline, a publiclylisted global payment services provider. The collaboration, initiallyestablished in 2022, focuses on BKN301 incorporating Worldline's Issuing andAcquiring technical processing solutions to strengthen its digital paymentofferings across EMEA markets."Havingan innovative and ever-changing client by our side will allow us to be moreagile in the market,” Alessandro Baroni, Head of Financial Services atWorldline, added. “The continuous evolution of Worldline's value propositionwill provide a steady stream of innovations and solutions that can helpposition the fintech as a major player in the world of digitalpayments."A centralelement of the partnership is a customizable solution for instant payment cardissuance, facilitated through an online onboarding process. This featureenables BKN301 to deliver a secure and efficient card activation process forits customers.Additionally,on the acquiring side, BKN301 will leverage Worldline's processing platforms,which handle more than 3.5 billion transactions annually for over 240,000merchants across Europe.This article was written by Damian Chmiel at www.financemagnates.com.
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The firstmonth of 2025 proved relatively strong for institutional FX markets. Tradingvolumes at major centers rebounded for another consecutive month across Asia, the United States, and Europe. While there were some exceptions, the overallmomentum remained positive.FX Spot Volumes Continueto StrengthenClick 365,the currency trading platform on the Tokyo Financial Exchange (TFX), recorded amonth-over-month (MoM) volume increase of 12.5% to 1,722,895 contracts, with anaverage daily volume (ADV) of 81,923. However, year-over-year (YoY) declines ofover 16% persisted compared to January 2024. The USD/JPY currency pair remainedthe largest volume contributor with nearly 494,000 contracts, showing a 15.9%MoM increase but a 42% YoY decline.Monthlyvolumes also grew in the United States on the Cboe spot exchange. January'sresult reached $1.04 trillion with an ADV of $47.45 billion. With more tradingdays than December (22 vs 21), the total volume difference compared to Decemberexceeded 21%. Unlike TFX, the result also improved year-over-year, as January2024 total volumes were $959.8 billion.360T Up, Fastmatch ShowsDeclineIn Europe,German stock exchange-owned 360T also showed increasing volume values, growingby almost $100 billion to $760.8 billion in January. This translated into ADVgrowth to $33 billion, reaching four-month highs.However,Euronext FX's Fastmatch showed opposite results. Total volumes slightlydecreased from $613 billion achieved the previous month to $609.9 billion. Thisnegatively impacted the ADV, which contracted to $27.7 billion. Compared to theprevious year, this is still a better result, as average daily volumes thenwere $25 billion.This article was written by Damian Chmiel at www.financemagnates.com.
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Ross Soodoosingh, a former executive at FXCM, has joined Zurich-based Swiset, a trading solutions provider, as a Strategic Advisor, he announced on LinkedIn recently.A Technology Provider in the Trading Industry“Swiset is a SaaS platform that provides AI-powered analytics, a trading journal, and mentorship tools to help traders improve across futures, forex, crypto, options, and stocks,” he explained in a LinkedIn post. “It also offers brokers and trading communities solutions to enhance client retention and engagement.”As seen on its website, Swiset is also targeting the prop trading industry with its technology platform. It jumped into prop trading by acquiring Proprietary Firms Tech (PFT), a provider of solutions for proprietary trading firms, last year. Among the brokers using its services is M4Markets, which integrated its solutions last November. It also claims that over 70,000 traders are using its platform.A Marketing ExpertSoodoosingh is a marketing expert with more than a decade of experience. During his career, he has worked with multiple trading brands in marketing roles. He is also the Chief Executive of a marketing agency specialising in the financial services industry.According to his LinkedIn profile, he started as the Senior Vice President of Marketing at FXCM in early 2013, a role he held for over six years. Later, he joined the Hong Kong offices of MultiBank Group as the Chief Marketing Officer for a six-month stint. He was also a Marketing Advisor at Taurex for over a year.Soodoosingh’s other experience includes being Head of Marketing at sFOX, which provides advanced technology solutions for cryptocurrency liquidity, execution, and order routing, and serving as Chief Marketing Officer for Investment.com.This article was written by Arnab Shome at www.financemagnates.com.
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Two Brokers, One Brand, But Why?Starting off ourweekly news update is an interesting case of two brokers fighting for the same brand. Offshore broker BCS Markets (formerly BCS Forex), a part ofthe Russian financial conglomerate BrokerCreditService and a sister brand ofthe Russian-licensed forex dealer BCS-Forex, appeared to have rebranded itselfas Ultima Markets. However, another retail trading broker named Ultima Marketsalready exists and offers contracts for difference (CFD) trading. Although the company did not publicly announce it, accordingto the Internet Archive, BCS Markets rebranded earlier this month. However, thebroker is still operating from the same web address, “bcsmarkets.com.” TheRussian broker was previously managed by BCS Markets LLC.Arbitrage in Prop Trading ModelsElsewhere, multiple prop firms have publicly opposed the arbitrage exploitation of their platforms. Additionally, several groups are offering services that claim to guarantee profits from prop trading activities. Although such exploitations are known, PipFarm’s CEO, James Glyde, recently pointed to the organized nature of such groups.“A very important feature of this scheme is the ability to pressure firms into paying out after they are caught to avoid negative publicity and firms find themselves in a lose-lose situation,” Glyde wrote in an X (formerly Twitter) post.These groups have power.A very important feature of this scheme is the ability to pressure firms into paying out after they are caught to avoid negative publicity and firms find themselves in a lose-lose situation. It makes it incredibly hard for traders to see the truth. https://t.co/INRAtyf5BC pic.twitter.com/cixH6CcBpV— James Glyde (@Jamesglyde) January 25, 2025XTB Reports 15% Revenue Jump, New Clients Increase Nearly 60%And in Poland, XTB closed 2024 on a high note, delivering strong financial and operational results. The online brokerage firm also experienced a surge in new clients, adding nearly 500,000 over the year, a 59.8% increase. This influx helped drive revenue up 15.8% to PLN 1.87 billion, while net profit climbed 8.6% year-over-year to PLN 859.4 million. Despite rising operational costs, XTB benefited from strong market trends and growing interest in financial instruments.In another development, XTB plans to introduce spot cryptocurrencies to its offering, likely this year, Finance Magnates has learned. While digital assets have been available through the company since 2018, they were only offered as contracts for difference (CFD). the company, which aims to become an all-in-one financial super app, now plans to expand its offering to include "physical" cryptocurrencies.Capital.com’s UAE Traders Post Record $469 Billion in VolumeMeanwhile, the United Arab Emirates (UAE) has established itself as a dominant force in global retail trading, with volumes reaching $468.9 billion in 2024, according to new data released by trading platform Capital.com. The UAE led global markets with 19.5 million trades - double the activity of second-place Germany while maintaining an impressive 62.53% positive return rate across trades.“Our latest data shows the remarkable achievements of UAE traders, who are not only diversifying their strategies across a wide range of instruments but also delivering healthy returns from their trades,” Tarik Chebib, the CEO of Capital.com MENA, said.NAGA Boosts Crypto Trading With New CFD OfferingAnother broker, NAGA, launched a new feature to enhance the accessibility of crypto CFD trading. Dubbed CryptoX, the new platform promises to eliminate overnight fees on long positions, offer real-time market exposure and enable traders to start with as little as $1. By integrating with NAGA’s copy trading feature, CryptoX also enables users to mirror successful trading strategies. According to the company, one of the standout features of CryptoX is the elimination of overnight fees on long (BUY) positions.easyMarkets Q4 2024 ResultsStill, with the brokerage space, easyMarkets saw a sharp rise in cryptocurrency trading…
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European Central Bank (ECB) President Christine Lagardestated that Bitcoin (BTC) is unlikely to be adopted as a reserve asset by EUbanks. This follows the Czech National Bank's (CNB) proposal to allocate 5% ofpublic funds to Bitcoin as part of its reserve diversification strategy. The CNB was set to review this proposal on January 30, with thepotential investment exceeding $7.3 billion, based on its $146 billion intotal reserves.ECB Opposes Bitcoin, EU Pursues Digital EuroDuring the January 30 conference, Lagarde reaffirmed thatBitcoin would not meet the ECB’s criteria for reserves, which prioritizeliquidity, security, and stability. However, other EU countries, includingPoland, Slovenia, Switzerland, Germany, and the Czech Republic, have exploredBitcoin reserve options.The President of the European Central Bank says there will be No strategic Bitcoin reserves. She emphasizes reserves must be liquid, secure & safe. In case you did not know,Reserves will be "Reserved" for utility digital assets. pic.twitter.com/5Eu2OU0x2W— Vandell | Black Swan Capitalist (@vandell33) January 30, 2025Meanwhile, the US has banned central bank digital currencies(CBDCs) through an executive order by former President Donald Trump, while theEU continues its Digital Euro project to compete with dollar-peggedstablecoins.CNB Considers Bitcoin in Reserve StrategyCNB Governor Aleš Michl, who proposed the Bitcoininitiative, expressed confidence in Bitcoin’s long-term value despite itsvolatility. He has emphasized the need for reserve diversification and notedthat Bitcoin could play a role in this strategy. No changes will be made untilfurther analysis is completed.Czech National Bank May Allocate Up to 5% of Reserves to Bitcoin as Part of Diversification Strategy, Potentially Acquiring BTC Worth Around $7.3 Billion---------------💰Coin:BTC ( $BTC ) $102,719.10---------------NFA. pic.twitter.com/lnX44WiIyH— COINOTAG NEWS (@coinotagen) January 29, 2025On Thursday, the CNB board approved a proposal to exploreinvesting reserves in additional asset classes, with Michl suggesting thatBitcoin could be considered for diversification, Coindesk reported."My goal is to diversify the portfolio, so if bitcoinis good [for that], then let’s have it," said Michl.BTCUSD Bounces Off Trendline, Support FormedBTCUSD has been trending upward, following a trendline onthe H1 chart. The price has bounced multiple times off the trendline's support.As of now, it appears to have found horizontal support at 104,000. Thissuggests that BTCUSD is receiving support from a confluence area, which mayattract more buyers and drive the price further upwards.This article was written by Tareq Sikder at www.financemagnates.com.
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The IUX Gala marked a milestone in the company’s journey, bringing together partners, influencers, and key figures from the financial and investment industry for an unforgettable evening. This exclusive event served as a celebration of the success of IUX Affiliates while providing a unique platform to strengthen global networks and business opportunities.A Global Gathering of ExcellenceThe event welcomed participants from Indonesia, India, Malaysia, the Philippines, Thailand, and Laos, alongside prominent influencers from Mexico and South Africa. The diverse attendance underscored IUX’s commitment to fostering a global community of traders, investors, and industry leaders.The presence of international influencers played a crucial role in elevating the event’s visibility. Their participation in discussions, networking sessions, and social media activities helped solidify IUX’s credibility and international recognition.An Atmosphere of Warmth and CollaborationAs the first-ever IUX Gala, the event created a new and exciting atmosphere, resonating with warmth, collaboration, and shared ambition. Partners and influencers actively engaged in discussions, exchanged industry insights, and strengthened their ties with the IUX community.One of the highlights of the evening was the interactive exchange of knowledge between industry professionals and influencers specializing in CFD trading across different regions. This dynamic exchange reinforced the value of collaboration and continuous learning in a rapidly evolving financial landscape.The event also served as a testament to IUX Affiliates’ unwavering commitment to its partners. Attendees appreciated the open dialogue with IUX representatives, who took the opportunity to discuss business growth strategies and address key concerns. Through panel discussions and interactive workshops, partners gained valuable insights that could be applied to their respective markets.Key Activities and Memorable MomentsThe IUX Gala featured a variety of engaging activities designed to recognize achievements, foster connections, and inspire future growth.Award Ceremony: The event honored outstanding partners for their dedication and contributions to IUX’s success.Gift Distribution: To express gratitude, special gifts were presented to all attendees, including exclusive souvenirs as tokens of appreciation.Networking Sessions: Participants had the opportunity to build relationships, exchange market insights, and explore new business ventures.Influencer Participation: The involvement of renowned influencers helped enhance IUX’s brand image, expanding its reach to a global audience.Success Stories Exchange: Partners shared their experiences, highlighting the milestones achieved through their collaboration with IUX Affiliates.The event also provided an open forum for partners to voice their perspectives and suggestions. By fostering an inclusive environment, IUX reinforced its reputation as a trusted and accessible company that values its partners’ contributions.Building a Stronger Future TogetherThe success of the IUX Gala in Asia set the stage for future initiatives that will continue to strengthen the company’s global network. More than just a celebration, the event symbolized the power of unity, shared knowledge, and strategic collaboration in the financial industry.With an ever-growing community of dedicated partners and influential industry figures, IUX remains committed to expanding its reach, enhancing opportunities, and shaping the future of trading. As IUX continues to evolve, one thing remains certain—the journey to success is always better when shared.For more updates on IUX events and initiatives, stay connected and be part of the next chapter in the company’s journey toward global excellence.This article was written by FM Contributors at www.financemagnates.com.
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Publicly listed Wall Street Bitcoin (BTC) miner BitfarmsLtd. (NASDAQ: BITF) has appointed two consulting firms, Appleby Strategy Group(ASG) and World Wide Technology (WWT), to assess the feasibility of integratinghigh-performance computing (HPC) and artificial intelligence (AI) operationsinto its infrastructure. The consultants will evaluate all of Bitfarms' NorthAmerican sites and provide recommendations for its global HPC and AI strategy.Bitfarms Hires Consultants for HPC/AI Strategy"Bitfarms is committed to maximizing the utility andvalue of our 1.2 GW North American portfolio. ASG and WWT will draw upon theirsubstantial expertise to evaluate our sites for HPC/AI." Bitfarms CEO BenGagnon commented. In addition to the feasibility study, ASG and WWT willdevelop sales and business expansion strategies for Bitfarms. They will alsoassist in marketing the company’s facilities to potential customers looking fordata center solutions. The move comes as Bitcoin mining firms explorediversification opportunities amid fluctuating market conditions and increasingenergy costs."Based on active discussions over the past severalmonths with potential HPC/AI partners and customers, we are confident that ourNorth American portfolio pipeline, particularly sites located on the PJM grid,is strongly suited for HPC/AI," Gagnon added. Bitfarms Engages Strategic Partners to Develop HPC/AI Business - Green Stock News https://t.co/pLOpiVb3Rd $BITF #cleantech #blockchain pic.twitter.com/QQrp2I3rFj— Green Stock News (@greenstocknews) January 31, 2025Bitfarms Operates 12 Bitcoin Data CentersFounded in 2017, Bitfarms operates 12 Bitcoin data centersand has two more under development. The company also has hosting agreementswith two additional facilities. Its operations span Canada, the United States,Paraguay, and Argentina. Bitfarms maintains a vertically integrated structure,managing its electrical engineering, installation services, and on-sitetechnical repair centers.Focusing on Sustainable Energy, Generating Steady RevenueBitfarms states that it relies primarily on hydroelectricpower and long-term energy contracts to support its operations. The companysees these contracts as a foundation for stable revenue. "The contracts associated with HPC/AI customers providelong-term, steady cash flows and earnings streams while our Bitcoin miningoperations will continue to monetize Bitcoin’s flexible upside potential,creating a powerful and resilient portfolio that will generate long-term valuefor our shareholders," Gagnon concluded. This article was written by Tareq Sikder at www.financemagnates.com.
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The US Securities and Exchange Commission (SEC) has approvedthe 19B-4 filing for Bitwise’s Bitcoin-Ethereum exchange-traded fund (ETF).This decision moves NYSE Arca closer to listing and trading shares of the fund.In its statement, the SEC noted that the proposal meets therequirements of the Exchange Act. This section mandates that exchange rules bedesigned to prevent fraud and manipulation while protecting investors and thepublic interest.Further Approval Needed for TradingThe NYSE Arca submitted the 19B-4 form for the ETF onNovember 26, 2024. The SEC approved it yesterday (Thursday), citing compliance with theExchange Act. However, trading cannot begin until the SEC approves the fund’sS-1 registration statement.Once fully approved, the Bitwise ETF Trust willhold both spot Bitcoin and spot Ether. The trust aims to provide exposure tothese assets based on their market capitalizations. The fund’s net asset value(NAV) and NAV per share will be calculated at 4:00 p.m. ET each trading day.🚨 NOW: The SEC has approved Bitwise’s #Bitcoin ETF and $ETH ETF. pic.twitter.com/pfx5VBbKow— Cointelegraph (@Cointelegraph) January 30, 2025More Crypto ETF Filings SubmittedSeveral cryptocurrency firms have submitted ETF applicationsto the SEC. Market participants anticipate regulatory changes under the Trumpadministration, leading to increased filings for crypto-based financialproducts.Since November, the SEC has receivedapplications for ETFs tied to assets such as XRP, Solana, and Litecoin. VanEckand ProShares have submitted filings for Litecoin, XRP, and Solana ETFs.Bitwise has also proposed a Dogecoin ETF. Dogecoin’s price is often influencedby social media activity.SEC已批准Bitwise比特币与以太坊组合ETF！Bitwise 的新基金将可同时持有现货比特币和以太坊。这份报告并不简单，不要忽视，不仅是加密货币融入主流金融体系的关键一步，也标志着监管机构对加密资产类别多样化的逐步接纳。… pic.twitter.com/wev7pY0331— BITWU.ETH (@BTW0205) January 31, 2025Additionally, Coinbase Derivatives has applied to list newfutures contracts for Solana and Hedera. If approved, the Solana futurescontract will have a size of 100 SOL.New Crypto Index ETFs Draw InterestIn December 2024, the SEC approved filings from Nasdaq andCboe BZX Exchange to list shares of crypto index ETFs from Hashdex and FranklinTempleton. These funds initially include spot Bitcoin and Ether, with thepotential to add other crypto assets. Market analysts have noted stronginvestor interest in these products.This article was written by Tareq Sikder at www.financemagnates.com.
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Offshore broker BCS Markets (formerly BCS Forex), a part of the Russian financial conglomerate BrokerCreditService and a sister brand of the Russian-licensed forex dealer BCS-Forex, appears to have rebranded itself as Ultima Markets. However, another retail trading broker named Ultima Markets already exists and offers contracts for difference (CFD) trading.Ultima Markets vs Ultima MarketsAlthough the company did not publicly announce it, according to the Internet Archive, BCS Markets rebranded earlier this month. However, the broker is still operating from the same web address, “bcsmarkets.com.”The Russian broker was previously managed by BCS Markets LLC. However, it has quietly registered a new entity, Ultima Markets SV LLC, in Saint Vincent and the Grenadines, at the same physical address as the previous entity.Interestingly, the other (original) Ultima Markets brand has been operating since 2016 and offers over-the-counter derivatives like forex pairs and CFDs of other assets. This broker operates through registered entities in Mauritius, South Africa, and Cyprus.Now, the question arises as to whether the rebranding of BCS Markets to Ultima Markets will attract any legal action from the original Ultima Markets. After all, two companies with the same branding and in the same industry can hardly co-exist."It has come to our attention that another broker may be using the name of Ultima Markets, potentially causing confusion among traders," an Ultima Markets spokesperson told Finance Magnates. "We are investigating the situation and will take all necessary measures, including legal recourse, to protect our traders and our brand.""We are committed to resolving this matter swiftly and responsibly while keeping our community informed of significant updates. Safeguarding our traders’ interests and upholding our reputation remain our top priorities."Both Claiming CopyrightsThe websites of both the original and rebranded Ultima Markets claim copyright over their brand.However, this is not the first rebranding of BCS Markets. In April 2021, the offshore broker rebranded from BCS Forex to distinguish its operations from its Russia-licensed sister forex dealer brand. At that time, the offshore unit also moved to a new domain to offer its services.The latest hasty rebranding appears to be an attempt by the offshore broker to cut its branding ties with its Russian businesses. Last month, the offshore broker also informed its clients that it would no longer allow payments through the sanctioned BCS Bank, which is also under the umbrella of the BCS Group.“The service is provided by a non-resident company, Ultima Markets SV LLC, registered in the jurisdiction of SVG, which is not subject to regulation in the Russian Federation,” its Russian website noted (translated from Russian). “Ultima Markets SV LLC, which provides services for trading CFD contracts, is responsible for providing such services in accordance with applicable law. Ultima Markets SV LLC does not operate and does not provide services in the financial markets to an unlimited number of persons in the territory of the Russian Federation.”However, this same text was also used when the platform was known as BCS Markets. The broker only changed the entity name from BCS Markets to Ultima Markets SV LLC. However, the names in the footer of the website were only changed in the Russian version of the website, as its English version still notes BCS Markets.This article was written by Arnab Shome at www.financemagnates.com.
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XTB closed 2024 on a high note, deliveringstrong financial and operational results. The online brokerage firm alsoexperienced a surge in new clients, adding nearly 500,000 over the year, a59.8% increase. This influx helped drive revenue up 15.8% to PLN 1.87billion, while net profit climbed 8.6% year-over-year to PLN 859.4 million.Despite rising operational costs, XTB benefited from strong market trends andgrowing interest in financial instruments.Record Revenue and Profit GrowthAccording to the company’s report, XTB's revenuesurged to PLN 1.87 billion in 2024, up from PLN 1.62 billion in 2023. The keydriver behind this growth was the expanding client base, with the number ofactive clients increasing by 61.2% to 658,500.Recently, XTB announced plans to add spot cryptocurrencies to its offering. Notably, cryptocurrencies have been offeredin the company since 2018, but only as contracts for difference. ThePolish-based firm, with plans to become an all-in-one financial super app,reportedly also targets "physical" cryptocurrencies.While transaction volume in CFD instruments declinedby 7.5% year-over-year, higher profitability per lot helped offset the impact. Byasset class, CFDs on commodities accounted for the largest share of revenue at48%, fueled by strong interest in gold, natural gas, and cocoa. CFDs on indices contributed 33.3%, with the US 100,German DAX (DE40), and US 500 indices being the most profitable. Currency-basedCFDs made up 14.6%, driven by demand for Bitcoin and USD/JPY trades.As XTB expanded aggressively, its operating expensesgrew to PLN 883.5 million, marking a 27% increase from 2023. Marketing expensessaw the largest jump, rising by PLN 78.2 million due to intensified onlinecampaigns. Employee salaries and benefits also increased by PLN 52.4 million,reflecting higher staffing levels.Cost Increases in 2025The company anticipates further cost increases in2025, with projections suggesting a potential 40% rise in total expenses.Marketing spending alone is expected to grow by 80% as XTB focuses on globalexpansion and client acquisition.XTB’s management remains focused on scaling itsbusiness and maintaining profitability. The company plans to continue investingin marketing, technology, and geographic expansion. At the same time, XTB’s dividend policy remainsshareholder-friendly, with the board considering payouts of up to 75% of netprofit for 2024, subject to regulatory requirements.With a strong financial position, rising brandrecognition, and a growing user base, XTB is positioning itself for continuedsuccess in 2025. However, higher costs and evolving regulatory factors couldshape the firm's profitability in the year ahead.This article was written by Jared Kirui at www.financemagnates.com.
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NAGA launched a new feature to enhance theaccessibility of crypto CFD trading. Dubbed CryptoX, the new platform promises to eliminate overnight fees on long positions offers real-time market exposure and enables traders to start with as little as $1.By integrating with NAGA’s copy trading feature,CryptoX also enables users to mirror successful trading strategies. Accordingto the company, one of the standout features of CryptoX is the elimination ofovernight fees on long (BUY) positions.Enhancing Cost EfficiencyThis move makes it more cost-effective for traderslooking to maintain positions over extended periods. By removing these fees,NAGA aims to attract both long-term investors and active traders seeking bettercost efficiency in their crypto portfolios. CryptoX ensures that traders get 1:1 market exposurewith real-time prices that reflect the actual value of underlying cryptoassets. This level of transparency allows for more informed decision-making.NAGA Expands Crypto Trading Capabilities with Launch of CryptoX for CFD Markets@everythingnagahttps://t.co/xzFLDZ4keW— Chainwire (@ChainwirePR) January 30, 2025Additionally, users can start trading with just $1,making it easier for new and experienced traders to participate in the marketwithout significant upfront investment.According to the company, CryptoX allows continuoustrading even on weekends. Unlike traditional financial markets,cryptocurrencies trade 24/7. This ensures that traders never miss anopportunity due to time restrictions, making it an attractive feature for thoselooking to capitalize.Copy Trading IntegrationCryptoX also integrates with NAGA’s copy tradingfunctionality, a tool that allows users to replicate the strategies of moreexperienced traders. This feature caters to those who may not have extensivetrading knowledge but still want exposure to the crypto market. By following top-performing traders, users can reportedlydiversify their strategies and improve their chances of success. NAGA offerstrading in stocks, forex, commodities, and cryptocurrencies.Last year, NAGA Group named boxing legend Mike Tyson as its brand ambassador. Describing the collaboration with MikeTyson, NAGA’s CEO Octavian Pătrașcu mentioned that his team managed tonegotiate and sign contracts with the boxing legend and coordinate withproduction teams in Los Angeles and New York. This article was written by Jared Kirui at www.financemagnates.com.
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Litecoin (LTC), a cryptocurrency created based on the Bitcoin protocol, recorded substantial gains in anticipation of the approval of an exchange-traded fund based on the cryptocurrency gains momentum.According to CoinMarketCap price data, LTC soared nearly 19% in the past day. Currently, the US Securities and Exchange Commission (SEC) is evaluating the Canary Litecoin ETF and inviting publiccomments.As the first altcoin ETF to reach this stage, themarket expects it to set a precedent for future cryptocurrency investmentproducts beyond Bitcoin and Ethereum. This development has fueled optimism inthe crypto market, with Litecoin prices surging in response.Step in SEC’s Decision ProcessAccording to a filing dated January 29, 2025, the SEChas initiated a 21-day public comment period following the ETF proposal’spublication in the Federal Register. This step followed Nasdaq’s submission of a 19b-4filing on January 16, a necessary requirement in the approval process forexchange-traded products.First alt coin 19b-4 to be acknowledged, rest were told to withdraw by Genz SEC. Throw in the comments from SEC on the S-1 and this filing is by far the furthest along checking all the boxes. Q now is will this SEC wait the full 240 days or approve more rapidly. Unknown. https://t.co/iXwq9PkLGr— Eric Balchunas (@EricBalchunas) January 29, 2025Canary Capital’s Litecoin ETF is part of a broaderpush to introduce alternative cryptocurrency ETFs into the US market. Just a week before this filing, Canary also appliedfor an XRP-based ETF, demonstrating increased interest in expandinginstitutional crypto investment options. Nasdaq’s involvement furtherstrengthens the case for Litecoin’s ETF approval.If granted, Nasdaq will act as the listing exchangefor the investment product, positioning Litecoin as the first altcoin beyondBitcoin and Ethereum to gain regulatory recognition in the ETF space.Following the SEC’s acknowledgment of the ETFapplication, Litecoin’s price has experienced an upward momentum. According toCoinMarketCap data, LTC soared 18% and 17% in the past day and week,respectively, to trade at $133.The technical price indicators also show thatthe digital asset has more prospects for upside.Positive Market SentimentAccording to TradingView data, the price has been consolidating above $108 since December 1. It is now approaching the$135 price resistance level, which has been tested twice since December 8.LTC’s price is currently above the 50 and 200 moving averages, and the Relative Strength Index is currently 61. The SEC’s engagementwith the Litecoin ETF comes at a time when regulatory attitudes towardcryptocurrencies appear to be shifting. Under the leadership of Acting Chair Mark Uyeda, theagency has shown a willingness to explore a broader range of crypto investmentproducts.A key move in this direction was the recentappointment of Republican Commissioner Hester Peirce to lead a newlyestablished crypto task force. Peirce, known for her pro-crypto stance, hasbeen vocal about the need for regulatory clarity. The SEC previously approved spot Bitcoin ETFs inJanuary 2024, followed by Ethereum ETFs later that year. These approvals set afoundation for Litecoin’s current bid to enter the ETF market. The SEC has theoption to use the full 240-day review period before announcing a final ruling. This article was written by Jared Kirui at www.financemagnates.com.
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