Let’s take a look back at top stories that dominated the financial markets in our Weekly Round coverage. This week’s digest takes a deep dive into the most recent events and trends within the Forex, Fintech, and cryptocurrency.
FX Markets
ASIC shuts down Prospero Markets amid $229 million laundering investigation
ASIC said that Prospero holds substantial client funds and is concerned about seeing these returned to clients as a priority. The Australian regulator considers that the best way to secure the efficient return of funds to clients is the appointment of liquidators. Read More
Should brokers launch a proprietary trading wing?
Drawing insights from five leading experts— Evgeny Sorokin from Devexperts, Anton Sokolov from Brokeree Solutions, Natalia Zakharova from FXOpen, Andrew Saks from TraderEvolution Global, and Elina Pedersen from Your Bourse —this article aims to provide a comprehensive overview of the opportunities and risks associated with prop trading for brokers. Read More
Bitstamp pre-approved for Major Payment Institution license in Singapore
Hosted by Your Bourse and Yourfintech, the event was aimed at FX dealers from Cyprus and beyond, and designed to facilitate networking, knowledge sharing, and professional development within the FX dealer community. Read More
From conflict to resolution: Financial Commission publishes broker dispute case studies
The Financial Commission (FinaCom) has published several case studies from 2023, revealing key themes and outcomes in disputes between traders and financial service providers. Read More
CMC Invest’s ambassador Shanti Pereira promotes early investing among women
CMC Invest has announced its collaboration with Shanti Pereira, a distinguished Team Singapore track and field sprinter and recent double Gold medalist at the 2022 Asian Games. Read More
Exness client base tops 766K despite lower trading volumes
FX brokerage powerhouse Exness reported a decrease in its trading volumes for February as the new year got off to a calm start while no events were able to whip up a market frenzy. Read More
Skilling CEO Michael Kamerman resigns, George Kyriakoudes joins as CFO
Forex and CFD broker Skilling Group has parted ways with its CEO Michael Kamerman, ending a four-tenure. The company also onboarded George Kyriakoudes as its chief financial officer (CFO). Read More
IC Markets integrates with TradingView
IC Markets, the CFD brokerage firm regulated by ASIC and CySEC, has become the latest online trading platform to integrate with social trading community and charting platform TradingView. Read More
Crypto Market
BlackRock to buy Bitcoin ETFs for $17B Global Allocation Fund
BlackRock, the world’s largest asset manager, is set to incorporate spot bitcoin exchange-traded funds (ETFs) into its Global Allocation Fund (MALOX), which is one of the most preferred vehicles for ordinary and passive investors. Read More
Bakkt joins Unchained’s enterprise collaborative custody network as a key agent
Bakkt has become a key agent for Unchained’s enterprise collaborative custody product, which allows bitcoin investors to utilize a vault system protected by multiple institutional key agents. Read More
Deutsche Börse goes live with spot trading of crypto assets via DBDX
Deutsche Börse Group has gone live with a platform for the spot trading of crypto assets, specifically designed for institutional clients. Read More
Tether’s USDT stablecoin nears 100 billion in circulating supply
USDT, the world’s largest stablecoin, has reached close to 100 billion in circulating supply, currently sitting at around 99.5 billion. Its market capitalization, which reached over $100 billion at one point, is calculated by multiplying the supply by the price. Read More
Revolut partners with MetaMask to facilitate crypto wallet topping up
British fintech firm Revolut has teamed up with the self-custodial wallet MetaMask to introduce a new feature that enables users to easily fund their MetaMask wallets using their Revolut accounts. Read More
Binance.US faces fallout from SEC lawsuit, revenue drops 75%
The fallout from the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Binance.US last June continues to impact the cryptocurrency exchange, recent court documents reveal. Read More
MiTrade and OctaFX blocked in Philippines, Binance still accessible
The Philippines National Telecommunications Commission (NTC) is set to block websites of cryptocurrency exchanges offering investment products in the country without the necessary licenses. Read More