Author: News Desk
Talos, a leading technology provider catering to the institutional trading of digital assets, has announced a strategic partnership with Coinbase Derivatives. This collaboration is set to broaden the investment horizons for those looking to delve into the cryptocurrency space within a regulated environment. Through this partnership, investors gain access to a regulated futures exchange that offers Bitcoin and ether futures contracts, marking a significant step towards integrating digital assets into mainstream financial markets. These futures contracts, which are sized at 1 Bitcoin and 10 ether, are designed with the institutional investor in mind. They offer an effective mechanism for managing…
The Financial Industry Regulatory Authority (FINRA) recently took action against H2C Securities Inc., imposing a $250,000 fine and issuing a censure for the firm’s failure to properly manage over 1.25 million business-related electronic communications from January 2013 through June 2021. These communications, which involved H2C Securities’ associated individuals, were exchanged via four different platforms provided by the firm but were not adequately preserved or reviewed as required. This decision was detailed in a Letter of Acceptance, Waiver, and Consent (AWC) where it was found that H2C Securities’ supervisory mechanisms, including its written supervisory procedures, were insufficiently designed to ensure compliance…
UP Fintech Holding Limited, operating under the Tiger Brokers brand and listed on NASDAQ with the symbol TIGR, has released its unaudited financial results for the fourth quarter and the entire year of 2023. For Q4, the company reported revenues of $70 million, marking a 9.6% year-over-year increase, and closed the year with total revenues of $272.5 million, a substantial 20.9% growth from 2022. Despite not achieving profitability in the last quarter, UP Fintech concluded the year with a net income of $32.6 million, a significant turnaround from a $2.2 million loss in the previous year. “In 2023, our topline…
Webull Canada has unveiled a new cash management feature for its digital investment platform, providing an enticing opportunity for investors to earn interest on their uninvested cash. This innovative service offers a 4% interest rate for Canadian dollars and a 3% rate for US dollars, addressing the growing demand for investment platforms that extend benefits beyond mere trading. The company’s move to introduce such a feature reflects its commitment to catering to investors’ needs for maximizing returns through passive income. Michael Constantino, CEO of Webull Securities (Canada) Limited, emphasized the significance of this initiative, stating, “Earning passive income on interest…
The Canadian Securities Administrators (CSA), representing provincial and territorial securities regulators across Canada, recently alerted the public about investment scams and deceptive financial guidance. The CSA emphasized the need for investors to be cautious with online financial advice, urging them to confirm the credibility of their information sources. Additionally, the agency recommended consulting with registered financial professionals to mitigate fraud risks. Stan Magidson, Chair and CEO of the Alberta Securities Commission and spokesperson for the CSA, expressed concern over the prevalence and complexity of investment fraud. “Investment fraud is prevalent and increasingly sophisticated, affecting investors across the country,” Magidson stated.…
The Spanish Data Protection Agency (AEPD) recently issued a significant directive to halt Tools for Humanity Corporation from collecting and processing personal data in Spain, related to its Worldcoin project. This action is a response to various complaints highlighting concerns over insufficient information sharing, data collection from minors, and issues around consent withdrawal, among other violations. Worldcoin, an initiative by Tools for Humanity Corporation, has attracted attention for its management of personal data on Spanish soil. The AEPD’s involvement highlights the serious concerns around biometric data processing, which is considered sensitive under the General Data Protection Regulation (GDPR). The AEPD…
HIVE Digital Technologies Ltd., a Vancouver-based cryptocurrency mining firm, reported an enhancement in its Bitcoin mining capabilities and reserves in February 2024, despite a slight decrease in production compared to January. In the previous month, the company mined 234.6 Bitcoins, averaging 7.6 per day, but saw a reduction to 200 Bitcoins in February, with a daily average of 6.9. Despite this, HIVE achieved an impressive hashrate of 4.06 Exahash per second (EH/s), translating to an average of 60.5 Bitcoins per Exahash, thanks to the integration of Bitmain’s S21 Antminers into their operations. These advancements have not only improved efficiency but…
Bank of America (BAC.N), Merrill Lynch, and Wells Fargo have introduced spot bitcoin exchange-traded funds (ETFs) to eligible wealth management clients, reflecting the rising interest in this asset class. According to a source familiar with Bank of America’s plans, these ETFs have been accessible to clients for several weeks following the Securities and Exchange Commission’s (SEC) approval of such investment vehicles in January. “Spot bitcoin ETFs are available for unsolicited purchases through an advisor with Wells Fargo Advisors or through our online WellsTrade platform,” stated Wells Fargo in an email on Thursday, outlining accessibility options for interested investors. Spot bitcoin…
Bitcoin’s value reached a record-breaking $69,000, as reported by Coinbase, marking a significant milestone in the cryptocurrency’s history. This price surge is largely attributed to the growing interest in Bitcoin, especially with the recent launch of Bitcoin exchange-traded funds (ETFs) in the U.S., signifying a new wave of investment in the cryptocurrency sector. The introduction of Bitcoin ETFs in the United States has played a crucial role in Bitcoin’s recent price appreciation. According to Cointelegraph, these ETFs have significantly contributed to the rise in Bitcoin’s value, underscoring their importance in the cryptocurrency market. Despite achieving new highs, Bitcoin is known…
eToro, the trading and investment platform, has named Inès de Dinechin as Special Adviser for its operations in France. Dinechin will collaborate closely with eToro’s management team and the local French team led by Emmanuel Sackman to support the company’s growth strategy. Dinechin brings a wealth of experience from her career, having served on the Board of Directors at Quintet Private Bank in various significant roles including Chair of the Audit Committee and Chair of the Investment Committee. She also served on the Board of Directors at Bank of America Europe DAC, enhancing her financial acumen as a member of…