Author: News Desk

On January 11, the US Securities and Exchange Commission (SEC) escalated its legal battle against Ripple Labs, Inc., as it seeks to compel the blockchain company to furnish essential financial records. This latest development is a continuation of the ongoing legal dispute initiated in December 2020 when the SEC alleged that Ripple’s XRP sales amounted to unregistered securities offerings. The SEC’s recent filing specifically calls for a court order requiring Ripple to provide its financial statements for the years 2022 and 2023. In addition, the regulatory body is demanding documents related to contracts governing institutional sales of XRP that occurred…

CoinShares International Limited has taken a significant step in its expansion strategy by exercising its option to acquire Valkyrie Funds LLC, a US-based digital asset manager specializing in actively managed cryptocurrency exchange-traded funds (ETFs). This move comes in the wake of the recent approval by the US Securities and Exchange Commission (SEC) for the issuance of Valkyrie’s spot Bitcoin ETF, The Valkyrie Bitcoin Fund. The Valkyrie Bitcoin Fund made its debut on January 11, trading on Nasdaq, and marked a historic moment as one of the first issuers of such products in the US. CoinShares’ decision to acquire Valkyrie Funds…

The United States has witnessed the commencement of pre-market trading for its inaugural Bitcoin exchange-traded funds (ETFs) on Thursday. Leading the charge was BlackRock’s iShares Bitcoin Trust (IBIT), which soared impressively by 22.25% during pre-market trading, according to data from Yahoo Finance as reported by Cointelegraph. Concurrently, Grayscale’s Bitcoin Trust (GBTC) entered pre-market trading with a notable gain of 2%, indicating the growing interest among investors in these newly approved financial products. IBIT, with a substantial pre-market volume of $2 million, raised questions about BlackRock’s potential influence in driving this initial surge. GBTC, listed on the New York Stock Exchange,…

ADSS, a prominent forex and contracts for differences (CFDs) broker with a strong presence in the Middle East, is making a bold move by embracing cloud-based technology for its proprietary trading platform. In partnership with technology provider Adaptive Financial Consulting, ADSS is transitioning away from legacy data centers, marking a significant shift in the capital markets industry. The adoption of cloud-based infrastructure in the financial services sector is relatively new. It leverages cloud services from tech giants like Amazon, Google, and Microsoft, eliminating the need for maintaining physical data center infrastructure. Matt Barrett, CEO and Co-Founder of Adaptive Financial Consulting,…

Genesis Global Trading, a prominent player in the cryptocurrency lending sector, has reached a settlement with the New York Department of Financial Services (NYDFS). In a move to address concerns raised during a recent investigation, the company has agreed to pay a substantial fine of $8 million, relinquish the BitLicense it had obtained back in 2018, and cease all operations within the state of New York. The investigation conducted by New York authorities revealed significant shortcomings in Genesis Global Trading’s anti-money laundering and cybersecurity protocols, which had left the firm vulnerable to potential illicit activities. Superintendent Adrienne Harris of the…

Cboe Digital has made a significant move in the world of cryptocurrency by launching margined Bitcoin and Ether futures. This exciting development has been made possible through collaboration with industry giants such as Blockfills, DV Trading LLC, Jump Trading Group, Marex, and Wedbush. What sets Cboe Digital apart is its offering of both spot and leveraged derivatives trading on a single platform. This expansion comes hot on the heels of the successful introduction of financially settled margined contracts for Bitcoin and Ether. Cboe Digital’s ambition doesn’t stop here, as it aims to broaden its product range by including physically delivered…

German football powerhouse Bayern Munich has strengthened its presence in the cryptocurrency world through a multi-year partnership with Austrian crypto firm Bitpanda. Effective immediately, this agreement appoints Bitpanda as the reigning German champions’ official crypto trading sponsor and platinum partner. The collaboration was officially unveiled at Bayern’s home turf, the Allianz Arena, during their clash with TSG Hoffenheim on January 12. Bitpanda will have a significant presence at all home matches throughout this partnership’s duration. Bitpanda’s CEO, Eric Demuth, emphasized the shared values and winning mentality that bind the football giants and the crypto platform, setting the stage for a…

CFI Financial, a prominent online trading provider in the MENA (Middle East and North Africa) region, has recently welcomed Louis Bridger as the Head of Business Development. Bridger, boasting a remarkable 17-year career in the Financial Services industry, is poised to play a pivotal role in guiding CFI’s growth trajectory and expanding its global presence across both new and existing markets. Bridger brings with him a wealth of experience garnered from his extensive tenure with esteemed international brands and high-growth fintech enterprises. Some of his notable contributions include roles at IG, ICE, Travelex, Wonga, and Betfair. His deep-rooted knowledge and…

INFINOX, a leading provider of CFD trading solutions, has appointed Robert Collins as its new Head of Trading, a move aimed at enhancing their global trading capabilities. Robert, whose career has been steeped in trading and technology, brings a wealth of experience from his tenure at IG and senior positions in multiple firms. His expertise spans the technological, quantitative, and algorithmic aspects of trading. Based in the London office, Robert will lead INFINOX’s global trading team, focusing on delivering premium pricing and efficient trade execution models. This strategic decision aligns with INFINOX’s commitment to competitive pricing and execution strategies, as…

WisdomTree has introduced its spot Bitcoin exchange-traded fund (ETF) in the United States, unveiling the WisdomTree Bitcoin Fund (BTCW) on the Cboe BZX Exchange. This development provides American investors with a convenient means to access Bitcoin’s price movements. An intriguing feature of BTCW is its zero expense ratio for the first $1.0 billion in assets. In an official statement, WisdomTree advised potential investors to approach the fund with caution, acknowledging the inherent volatility in Bitcoin’s price. The company emphasized that cryptocurrencies, including BTCW, are speculative investments carrying substantial risk, which could result in significant losses. WisdomTree’s recent success follows a…