Author: News Desk

Ferrari, the renowned luxury sports car manufacturer, has exceeded Wall Street’s expectations for both its top and bottom lines in the fourth quarter, capping off a remarkable year of profits. In 2023, the automaker recorded a net profit of 1.26 billion euros (approximately $1.36 billion), which included 294 million euros (about $317.9 million) during the final quarter. Furthermore, the company achieved an adjusted earnings before interest and taxes (EBIT) of 1.62 billion euros (roughly $1.75 billion) for the entire year, including 372 million euros (approximately $402.3 million) in the last quarter. These figures represent annual records for Ferrari. Ferrari’s total…

The Founder of the American Bitcoin Academy, Brian Sewell, is currently under the scrutiny of the Securities and Exchange Commission (SEC) due to allegations of fraudulent activities targeting his students. Operating initially from Hurricane, Utah, and later relocating to Puerto Rico, Sewell managed to entice hundreds of students into investing in his supposed Rockwell Fund, according to Bloomberg. He promised revolutionary investment strategies based on artificial intelligence and machine learning, assuring them of substantial profits within the volatile cryptocurrency market. However, investigations into Sewell’s operations unveiled a fraudulent scheme. It was revealed that Sewell had never actually launched the fund…

Zondacrypto has proudly announced its sponsorship of Juventus F.C., a renowned football club in Italy known for its remarkable success on the field. This exciting partnership signifies Zondacrypto’s strategic expansion into the Italian market, while also reinforcing Juventus’ esteemed position as a dominant global football powerhouse. The collaboration between Zondacrypto and Juventus is rooted in shared values and ambitions. Both entities are deeply committed to achieving their goals relentlessly, whether on the football pitch or within the cryptocurrency industry. Zondacrypto’s sponsorship aligns seamlessly with Juventus’ rich history of unwavering determination and the relentless pursuit of excellence, a legacy carried forward…

Valkyrie, a leading provider of spot Bitcoin exchange-traded funds (ETFs) in the United States, has taken a significant step in enhancing the security and regulatory compliance of its Bitcoin Fund (BRRR). They have appointed BitGo as their second custodian, alongside Coinbase, to diversify their coin custody strategy. This collaboration between Valkyrie and BitGo marks a crucial development in the cryptocurrency investment landscape, emphasizing the industry’s dedication to risk mitigation. By partnering with BitGo, Valkyrie aims to align with regulatory requirements in both the US and global markets, effectively setting a new security standard for spot Bitcoin ETFs. BitGo, led by…

The Thailand Securities and Exchange Commission (SEC) has issued a directive to temporarily suspend the operations of Zipmex Company Limited, a digital asset trading center and brokerage service provider. This decision comes in response to ongoing financial and operational challenges faced by Zipmex, despite prior warnings from the SEC. The SEC had initially provided Zipmex with a 15-day window to address these issues, which began on January 12, 2024. However, as the specified timeframe has passed without satisfactory corrective measures being taken, the SEC Committee convened on February 1, 2024, to take action. The committee expressed its concerns over Zipmex’s…

FBS analysts are sounding the alarm, predicting a looming downturn for Bitcoin, and it all hinges on the Federal Reserve’s upcoming key rate cut in 2024. This development hints at the growing likelihood of a bullish trend reversal for BTCUSD, as rate reductions tend to have a profound impact on risk assets like Bitcoin. The Federal Reserve’s key rate, a linchpin determining the minimum interest rate for interbank lending, wields considerable influence over the financial landscape. Market observers have noted a recurring pattern where the Federal Reserve’s rate hikes coincide with the decline of risk assets, with Bitcoin being no…

OPNX, a unique hybrid platform that combined bankruptcy claim trading and cryptocurrencies, has officially announced its impending closure. Launched in April 2023 by Su Zhu and Kyle Davies, co-founders of the now-defunct Three Arrows Capital (3AC) hedge fund, OPNX was set to revolutionize the industry. However, following a tumultuous year, the platform is set to cease all operations by February 14, 2024. Customers of OPNX received an email notification outlining the shutdown plan. They were urged to close all open positions by February 7 and withdraw their funds by February 14, as the platform would halt all withdrawals after the…

Finalto, a leading provider of liquidity and trading technologies owned by Hong Kong-based Gopher Investments, has welcomed Daniel Leis as its new Sales Director. Leis has already commenced his role at the company’s London offices, bringing with him a wealth of industry experience. Leis’s impressive career trajectory includes a stint at Saxo, where he served as Director and Senior Institutional Sales for a year and eight months. Prior to that, he spent nearly three years at Interactive Brokers in London, where he worked in the Institutional Business Development team. With over 15 years of experience in the financial sector, Leis…

Mastercard is undergoing a revolutionary transformation of its renowned Decision Intelligence (DI) system, incorporating generative AI techniques to enhance its capabilities. As a trusted real-time decisioning solution, DI has managed an astonishing 143 billion transactions annually. With the introduction of Decision Intelligence Pro, powered by generative AI, Mastercard is making substantial strides in transaction authentication by scrutinizing an unprecedented one trillion data points. This groundbreaking Decision Intelligence Pro operates by assessing relationships between various entities involved in a transaction, enabling it to swiftly determine the level of risk in just 50 milliseconds. Preliminary modeling has demonstrated an average 20% increase…

Equiti Group has taken a significant step towards enhancing its executive team with the recent appointment of Sophie Squillacioti as the Director of Sales for the Asia-Pacific (APAC) region. Squillacioti has already assumed her role at the company’s Dubai offices, bringing a wealth of experience that spans over two decades. Sophie Squillacioti’s professional background is marked by her remarkable expertise in overseeing Asian operations for various prominent brokerage firms. Prior to joining Equiti, she held the esteemed position of Head of Asia at INFINOX Global, where she made substantial contributions during her tenure, which extended from August 2022 until her…