Author: News Desk

eToro, in collaboration with fintech specialist STRATxAI, has unveiled an exciting new offering for retail investors called the ‘Cutting-Edge’ portfolio. This innovative partnership harnesses STRATxAI’s proprietary technology and analytical tools to introduce a novel approach to identifying high-value US stocks on the eToro platform. The ‘Cutting-Edge’ portfolio consists of 15 carefully selected US stocks and will undergo monthly rebalancing. The primary objective is clear: to consistently deliver risk-adjusted returns that outperform the S&P 500 benchmark. The monthly rebalancing process is facilitated by the STRATxAI backtest engine, which meticulously evaluates the performance of over 5,000 mid to large-cap US equities spanning…

B2Prime Group, a prominent liquidity provider, is delighted to announce a significant achievement – the “Initial Approval” for licensing granted by the Dubai Virtual Assets Regulatory Authority (VARA) to B2B Prime Digital MENA. However, it’s important to note that the licensing process is contingent on fulfilling pre-operating conditions and gaining operational approval from VARA. This initial approval represents a crucial step toward obtaining a complete Virtual Asset Service Provider (VASP) License, enabling B2B Prime Digital MENA to offer comprehensive virtual asset services, including Exchange, Broker Dealer, and Transfer and Settlement services, in the MENA region in the near future. Founder…

Kraken’s subsidiary, CF Benchmarks, is currently engaged in discussions with 50 different firms seeking its services for spot Bitcoin exchange-traded fund (ETF) pricing. This development comes in the wake of the recent green light given by the US Securities and Exchange Commission (SEC) to 11 spot Bitcoin ETF applications. A report from Financial News reveals that CF Benchmarks is supplying crucial data to major players in the financial industry, including BlackRock and Franklin Templeton. At present, six out of the eleven approved spot Bitcoin ETF providers are relying on CF Benchmarks’ index to monitor pricing data from various exchanges that…

Ark Investment Management LLC has demonstrated its strong commitment to the world of Bitcoin by investing $15.9 million in its recently-listed ARK 21Shares Bitcoin ETF (ARKB). In a parallel move, the firm sold $15.8 million worth of shares in the ProShares Bitcoin Strategy ETF (BITO). This significant purchase of 365,427 ARKB shares was made within the framework of ARK’s Next Generation Internet ETF, led by renowned investor Cathie Wood. This move reflects ARK Invest’s strategic shift away from its previous holdings in the Grayscale Bitcoin Trust (GBTC) in December. Instead, they opted for BITO shares in anticipation of GBTC’s conversion…

Coinbase is gearing up for a pivotal court hearing set for Wednesday, where it will vehemently argue that the US Securities and Exchange Commission (SEC) should abandon its case against the cryptocurrency platform. The heart of Coinbase’s argument rests on the assertion that the tokens traded on its platform fundamentally differ from securities, thereby warranting the dismissal of what they perceive as the SEC’s regulatory overreach. This legal skirmish has captured the rapt attention of the crypto community, poised to potentially bring much-needed clarity to the SEC’s jurisdiction within the digital asset sector. Coinbase’s central contention revolves around the idea…

FXSpotStream LLC, a subsidiary of LiquidityMatch LLC, has proudly welcomed Wells Fargo as its 16th liquidity provider for its foreign exchange price streaming service. This significant addition follows NatWest’s participation in the service last year, marking the first new entrant to the liquidity pool since 2020. FXSpotStream operates as a provider of liquidity to clients through a transparent, relationship-based trading platform for foreign exchange and precious metals. It offers clients access via a user-friendly graphical interface or application programming interface (API). Tom San Pietro, the company’s Chief Technology Officer, expressed his enthusiasm about Wells Fargo’s inclusion, highlighting the growing interest…

Euroclear has announced the appointment of Valérie Urbain as its incoming Group Chief Executive Officer (CEO), marking a significant transition following the retirement announcement of the current CEO, Lieve Mostrey, who has held the position since January 2017. The Board of Euroclear expressed their deep appreciation for Mostrey’s instrumental role in driving the growth of the Group during her tenure. Under her leadership, Euroclear significantly expanded its global footprint, strengthened its funds portfolio through strategic acquisitions, and solidified its position as a vital financial market infrastructure. Valérie Urbain, the successor to Mostrey, has been a stalwart of Euroclear since 1992,…

zkLink, a leading player in the realm of zero-knowledge blockchain technology, has unveiled its eagerly awaited token, $ZKL, marking a significant stride towards resolving liquidity fragmentation within the Layer 2 (L2) ecosystem. Following a successful Community Token Sale on Coinlist, $ZKL is poised for launch on Thursday, January 25, 2024, at 18:00 UTC. The $ZKL token, serving as both the native utility and governance token for the zkLink protocol, holds pivotal importance in addressing L2 liquidity issues. It empowers developers to effortlessly access zkLink’s cutting-edge zero-knowledge rollup infrastructure, encompassing zero-knowledge (ZK) proof markets. Additionally, $ZKL facilitates governance over protocol development…

Saxo, a leading financial services company, has recently announced significant reductions in brokerage fees for both the US and Australian markets. This strategic move is aimed at making trading more accessible and affordable for Australian investors, offering transparent and all-inclusive pricing structures. Clients of Saxo will now enjoy substantial reductions in brokerage fees, with up to an impressive 87% reduction for US markets and up to 62% for the ASX. This means that trading costs for US equities can now be as low as USD 1, UK equities for just GBP 3, and local ASX equities for as little as…

Bitcoin exchange-traded funds (ETFs) have been generating significant buzz in the market, but one major American player, Vanguard, has chosen not to allow its customers to trade these products on its platform. Vanguard, the world’s second-largest asset manager with over $7.2 trillion in assets under management, confirmed that it would not offer spot Bitcoin ETFs for purchase on its platform. A company spokesperson stated that Vanguard has “no plans to offer Vanguard Bitcoin ETFs or other crypto-related products.” The firm’s core focus remains on asset classes such as equities, bonds, and cash, which it considers the foundation of a well-balanced,…