The FTX bankruptcy estate updated its timeline for creditor and customer reimbursements, with initial payouts expected to kick off in March 2025. The collapsed crypto exchange plans to finalize arrangements with distribution agents by early December to handle the payout process and manage the customer portal. Interim CEO John J. Ray III said: “While we continue to take actions to maximize recoveries, we are full steam ahead to reach arrangements with our distribution agents and return proceeds to creditors and customers as quickly as possible.” Under the plan, 98% of creditors will receive at least 118% of their claim value in cash. About 94% of creditors in the “dotcom customer entitlement claims” class, representing around $6.83 billion in claims, voted in favor of the reorganization. Judge Dorsey praised the process, calling it a “model case” for complex Chapter 11 bankruptcies. The reimbursement plan was approved by a U.S. judge in October, but faced criticism from some creditors, particularly for calculating payout amounts based on digital asset prices at the petition date, which were well below than current values. Bitcoin, for instance, was trading at $16,000 when the creditor petition was filed, compared to nearly $99,000 today. Despite these objections, David Adler, a lawyer for some creditors, highlighted that FTX lacked the necessary cryptocurrency reserves to make in-kind distributions. Separately, the FTX bankruptcy estate launched a series of lawsuits targeting exchanges and individuals linked to the collapse. These include a $50 million claim against KuCoin, an $11 million suit against Crypto.com, and a $100 million complaint against Anthony Scaramucci and SkyBridge Capital over deals made with former FTX CEO Sam Bankman-Fried. Additionally, Binance and its founder Changpeng Zhao are facing a $1.8 billion lawsuit from the FTX estate, alleging that Binance received $1.76 billion in fraudulent transfers before FTX’s collapse in 2022. Meanwhile, plans for an FTX 2.0 reboot were discussed but ultimately abandoned, as no investors were willing to commit capital to restart the platform. FTX’s former CEO Sam Bankman-Fried was found guilty of fraud in November 2023 and sentenced to 25 years in prison.

This report summarizes the Federal Reserve Board’s framework for assessing the resilience of the U.S. financial system and presents the Board’s current assessment. By publishing this report, the Board intends to promote public understanding and increase transparency and accountability for the Federal Reserve’s views on this topic. 2024 November: PDF April: HTML | PDF | Chart Data and Descriptions 2023 October: HTML | PDF | Chart Data and Descriptions May: HTML | PDF | Chart Data and Descriptions 2022 November: HTML | PDF | Statement by Vice Chair Brainard | Chart Data and Descriptions May: HTML | PDF | Statement by Governor Brainard | Chart Data and Descriptions 2021 November: HTML | PDF | Chart Data and Descriptions May:  HTML | PDF | Statement by Governor Brainard | Chart Data and Descriptions 2020 November: HTML | PDF | Statement by Governor Brainard | Chart Data and Descriptions May: HTML | PDF | Chart Data and Descriptions 2019 November: HTML | PDF | Chart Data and Descriptions May: HTML | PDF | Chart Data and Descriptions 2018 November: HTML | PDF | Chart Data and Descriptions

US-based electronic trading platform Webull is among three companies that settled with the US securities regulator regarding suspicious activity reports that failed to include important and required information.Webull Financial, Lightspeed Financial Services Group, and Paulson Investment Company, LLC, reportedly agreed to pay the regulator a total of $275,000 for submitting suspicious activity reports that lacked critical information over a four-year period. Suspicious Activity ReportsThe SEC explained in the official announcement of the enforcement action that SARs are tools for law enforcement, offering insights into transactions that may signal illegal activity. Federal law mandates that broker-dealers file SARs explaining transactions deemed unusual or suspicious.Commenting about the fine, Jason Burt, the Director of the SEC’s Denver Regional Office, said: “Suspicious activity reports play a vital role in keeping our markets safe, and the failure of broker-dealers to include necessary information to explain suspicious transactions deprives law enforcement and regulatory agencies of valuable and timely intelligence, undermining the very purpose of the SARs.”According to the SEC, the three firms failed to meet this standard between 2018 and 2022, submitting reports with missing or incomplete details. In addition to paying fines, Webull and Paulson agreed to hire compliance consultants to review their anti-money-laundering programs.Intelligence to Combat Financial CrimeAccording to the regulator, failure to provide complete and concise information in SARs deprives law enforcement and regulators of valuable intelligence needed to combat financial crime. The investigation was led by the SEC’s Denver Regional Office and involved the Financial Industry Regulatory Authority.Recently, Webull collaborated with Coinbase to offer crypto futures to US retail investors. The move aims to give traders access to Bitcoin and Ethereum futures. According to Webull, users must open and fund a futures account to begin trading the crypto futures, and the offering is expected to be rolled out to US users in the coming months.According to the digital investment platform, Webull’s collaboration with Coinbase Derivatives seeks to bridge the gap in the market for retail investors. Futures contracts for Bitcoin, nano Bitcoin, Ethereum, and nano Ether are among the products expected to launch on Webull. This article was written by Jared Kirui at www.financemagnates.com.

Bitcoin surged above $99,500 on Friday, briefly dipping to $98,600 before stabilizing above $99,000 during US trading hours. Deribit’s BTC futures contracts for 2025 traded above $100,000, with open interest in $100,000 call options exceeding $2 billion. The cryptocurrency’s price increase boosted the overall market capitalization to a record $3.4 trillion, with BTC alone contributing over 56% of the total. BTC gained 2% in the past 24 hours, leading the market’s 4.5% growth. Spot Bitcoin exchange-traded funds (ETFs) in the U.S. recorded over $1 billion in net inflows, led by BlackRock’s IBIT with $600 million and Fidelity’s FBTC with $300 million, with no outflows reported from any of the eleven available ETFs. Strength in Bitcoin catalyzed gains across major tokens. Ether (ETH) surged nearly 9%, lifting decentralized finance (DeFi) indexes by at least 8%. Ethereum-based memecoins such as mog (MOG) and pepe (PEPE) jumped as much as 27%. Other major tokens also rallied, with Solana’s SOL climbing 8% to a fresh high above $260 amid ETF filings and speculative trading. Cardano’s ADA gained 12%, while XRP led the majors with a 25% spike. XRP’s surge followed news of SEC Chair Gary Gensler’s planned departure in January, clearing regulatory uncertainties for U.S.-related tokens. Traders remain optimistic about Bitcoin’s trajectory. Analysts at QCP Capital noted strong demand for BTC, supported by easing monetary policies from global central banks. They highlighted aggressive demand for Bitcoin options expiring in March and June 2025. MicroStrategy stock plunges MicroStrategy, the largest corporate Bictoin holder, saw its stock drop by 16.2% in one of its sharpest single-day declines this year, briefly falling over 20% intraday. Despite the pullback, MicroStrategy’s stock remains up more than fivefold for 2024 and nearly eight times from its value a year ago. The company’s market cap, which had exceeded $100 billion earlier in the day, fell to around $80 billion, still well above the value of its Bitcoin holdings, which stand at approximately $32.5 billion. Critics pointed to the divergence between MicroStrategy’s valuation and the underlying value of its Bitcoin holdings. Citron Research’s Andrew Left, a former proponent of MicroStrategy as a Bitcoin proxy, voiced his concerns, stating, “MicroStrategy’s [valuation] has completely detached from Bitcoin fundamentals.” Left, who remains bullish on Bitcoin, revealed he has hedged his position by shorting MSTR. The decline comes amid a positive feedback loop that has fueled MicroStrategy’s meteoric rise. The company’s ability to raise capital at favorable valuations has allowed it to acquire more Bitcoin, further boosting its stock price as Bitcoin’s value climbs. Jonathan Weil, writing in the Wall Street Journal, described this phenomenon as a “flywheel effect,” cautioning investors about the speculative nature of betting on MicroStrategy’s stock rather than Bitcoin itself. “If you want to speculate that Bitcoin is heading higher, buy some,” Weil advised. “To go long MicroStrategy’s stock is to wager that bizarrely inefficient markets will become even more so.”  

The three broker-dealers agreed to pay $275,000 combined in civil penalties to settle the SEC’s charges. The post SEC charges Webull Financial, Lightspeed Financial Services, and Paulson Investment Company with filing deficient SARs appeared first on FX News Group.

The US Securities and Exchange Commission (SEC) has approved the Fixed Income Clearing Corporation’s (FICC) rule filings linked to access models and segregated accounts and margin.In relation to segregated accounts and margin, FICC’s proposed rule changes seek to address the Commission’s new requirements and the conditions for including margin in the broker-dealer reserve formulas.The proposed rule change would provide for the separate and independent calculation, collection, and holding of margin for proprietary transactions of a netting member from margin submitted to FICC by a netting member to support the transactions of an indirect participant.In addition, the rule change would establish segregated accounts for direct and indirect participants, including establishing a minimum $1 million cash margin requirement for each segregated indirect participant.Elsewhere, the rule change seeks to consolidate the methodology for calculating the margin requirements.Meanwhile, in relation to access models, FICC proposes to re-name, consolidate, and adopt additional provisions governing GSD’s existing correspondent clearing/prime broker services.As part of the proposals, moving forward, the correspondent clearing/prime broker services would be referred to as the “Agent Clearing Service,” submitting members would be referred to as “Agent Clearing Members,” and executing firms would be referred to as “Executing Firm Customers.”In a filing, FICC stated that it designed the proposed changes to the Agent Clearing Service to highlight the similarities between the Agent Clearing Service and other agent clearing models.“We are pleased that the SEC took action to approve FICC’s rule filings related to access models and segregated accounts and margin. With these approvals, we are now ready to advance our implementation efforts with the industry, in preparation for next year’s deadlines,” DTCC said in a statement.“We’re also appreciative of all of the comments and perspectives that the industry has shared with us on a range of matters, including default management, done away and porting. Additional work remains as we get ready for implementation, and we are committed to ensuring we deliver the best solutions with the best value for the industry.“The expansion of US Treasury clearing is a significant industry-wide effort that promises to deliver critical benefits to the industry, including increased transparency and reduced risk.  We will continue to work closely with our clients and key stakeholders on ensuring safe, smooth and successful implementations in 2025 and 2026.”The post SEC approves FICC access models and segregated accounts and margin rule filings appeared first on The TRADE.

Amazon has announced an additional $4 billion investment in artificial intelligence startup Anthropic, bringing its total investment to impressive $8 billion. This move significantly strengthens Amazon‘s position in the rapidly evolving AI sector and highlights the company’s commitment to advancing its AI capabilities. Anthropic’s Claude competes with OpenAI‘s ChatGPT and Google‘s Gemini. Investment Details and Context Amazon‘s latest investment maintains its position as a minority investor in Anthropic, a startup founded by former OpenAI leaders. This strategic partnership involves several key components: Cloud Computing Partnership: Anthropic will name Amazon Web Services (AWS) as its primary training partner and cloud provider1. Chip Utilization: Anthropic will use AWS Trainium and Inferentia chips for training and deploying future foundation models12. Technology Collaboration: Both companies will work closely to advance Trainium’s hardware and software capabilities1. Market Implications and Strategic Intentions Amazon’s investment in Anthropic can be viewed as a strategic move to: Compete with Rivals: This partnership positions Amazon-Anthropic as a counterpart to Microsoft-OpenAI, intensifying competition in the AI space. Enhance AWS Offerings: By integrating Anthropic’s AI models into Amazon Bedrock, AWS can provide more advanced AI capabilities to its cloud customers. Advance Hardware Development: Collaboration on chip development could give Amazon an edge in AI-specific hardware. Expand AI Integration: Amazon may leverage Anthropic’s technology to enhance its products and services, potentially including improvements to Alexa. Market Opinions The market views this investment as a significant move in the AI landscape: Competitive Positioning: Analysts see this as Amazon‘s attempt to catch up with Microsoft and Google in the AI race. Cloud Market Impact: The partnership is expected to strengthen AWS’s position in the cloud computing market, especially for AI workloads. Regulatory Scrutiny: The investment has attracted attention from regulators, including the FTC and UK’s Competition and Markets Authority, due to potential impacts on market competition. Financial Implications While the exact financial terms are not fully disclosed, this investment represents a substantial commitment from Amazon: Amazon’s stock (AMZN) showed a slight increase of 0.0857% following the announcement, trading at $198.55. The investment is structured to maintain Amazon as a minority investor, potentially mitigating some regulatory concerns3. Conclusion Amazon‘s $4 billion investment in Anthropic represents a strategic move to bolster its AI capabilities and compete more effectively in the rapidly evolving AI market. By leveraging Anthropic‘s expertise and integrating advanced AI models into its cloud services, Amazon aims to enhance its product offerings and maintain its competitive edge in cloud computing and AI technologies. However, the long-term success of this partnership will depend on the effective integration of Anthropic‘s technologies and the ability to navigate potential regulatory challenges in the AI sector. Share Information with FinTelegram CategoriesFintech Fundraising Investor BriefingTagsAmazonAntropicGoogleMicrosoftOpenAI

Welcome to the future of trading with Leverate! We are excited to introduce the latest breakthrough in our platform version 2.1. This isn’t just another update; it’s a complete reimagining of how traders interact with their trading data. Our redesigned Trader Dashboard is at the heart of this transformation, offering a suite of powerful features designed to enhance the trading experience and streamline operations. At Leverate, we always push the boundaries to provide our clients with the most advanced tools available. The release of prop v2.1 marks a significant milestone in this journey. Our new Trader Dashboard is more than just an interface; it’s a holistic solution tailored to meet the needs of individual traders. With a focus on functionality, accessibility, and aesthetics, this dashboard is designed to support every aspect of the trading journey for all. One-of-a-Kind Integrated Prop Dashboard with SiRiX Trading Platform One of the key differentiators of our new offering is the seamless integration with our SiRiX trading platform. In the world of prop trading, efficiency and integration are at the forefront of importance. Typically, other technology providers offer separate solutions for trading dashboards and trading platforms, often leading to a fragmented user experience. This separation can create difficulty for traders by making it harder to sync data, track progress accurately, or quickly react to market changes. Our integrated dashboard and trading platform eliminates these issues by providing a unified environment. Traders can monitor their accounts, track real-time market data, execute trades, and analyze their performance, all within the same interface. This unique combination not only saves time but it also enhances the precision and effectiveness of trading strategies. Monitor Real-Time Performance Metrics Staying ahead in the highly competitive world of trading requires constant vigilance and adaptability. Our Trader Dashboard is equipped with real-time performance tracking capabilities, allowing traders to see up-to-the-minute data on their trades, profits, losses, and more. This immediate feedback loop is critical for prop traders, especially those involved in high-frequency trading or time-sensitive challenges. The dashboard provides a detailed breakdown of key metrics such as win/loss ratios, average trade duration, and more. These insights enable your traders to make informed decisions immediately, optimizing their strategies and improving their overall performance.  Intuitive & Visually Appealing Layout The user experience is a top priority in our design process. Our new dashboard has an intuitive layout that is both user-friendly and visually appealing. Navigation is straightforward, with all essential tools and information easily accessible from a single interface. Whether traders are tracking daily trades, analyzing historical data, or setting up new trading strategies, the dashboard’s design ensures that they can do so efficiently and without unnecessary complexity. We understand that in trading, every second counts, and our streamlined design is built to minimize the time spent navigating the platform. Additionally, the dashboard’s clean and modern visual style is not just aesthetically pleasing but also functional, reducing visual clutter and focusing attention on critical data points. A New Era for Prop Firms and Traders Our redesigned Trader Dashboard is more than just a tool; it’s a strategic advantage for prop firms and their traders looking to stay ahead in a competitive market. By combining cutting-edge technology with an intuitive interface, we are setting a new standard for what a trading platform can be. This dashboard is designed not only to meet the current needs of traders but also to anticipate future developments in the trading world.  So, are you ready to elevate your traders’ experience? Contact us today and find out how our unique dashboard can transform your prop firm operations. . The post Elevate Your Prop with Our Unique Prop Dashboard appeared first on Leverate.