A surge in cyberattacks has affected Japan’s online trading sector, as hijackers continue to compromise brokerage accounts and execute fraudulent trades worth hundreds of billions of yen. The Financial Services Agency (FSA) has raised the alarm over the scale of the attacks, which have spiked sharply since March and show no sign of slowing.Fraud Totals Reach Alarming LevelsIn May alone, hackers executed 2,289 unauthorized transactions totaling approximately ¥200 billion. Although this marks a decline from April’s figures, 2,910 cases and ¥290 billion in fraudulent activity, the numbers remain high compared to historical norms.Over just three months, March to May, fraudulent trades exceeded ¥500 billion across nearly 6,000 incidents. The scope of the attacks highlighted how cybercriminals are exploiting security vulnerabilities in online brokerage systems to take control of customer accounts.You may also find interesting: Webull’s New Feature With Prediction Market Exchange Kalshi Lets Traders Bet on Bitcoin Hourly MovesOnce inside, hackers typically sell off the assets in the account and use the proceeds to purchase low-liquidity stocks, many of which they likely own, to inflate prices artificially.The Japan Securities Dealers Association confirmed that 16 brokerage firms have reported account hijackings. While major firms were the initial targets, attackers are now increasingly shifting their focus to smaller brokerages, where cybersecurity protections may be weaker.Hackers reportedly use phishing emails, malware, and spoofed websites to steal user credentials. These techniques allow them to bypass login protections, particularly at firms that do not enforce multifactor authentication.Push for Stronger ProtectionsIn response to the growing threat, 76 brokerages have committed to making multifactor authentication mandatory for trading. However, the rollout remains uneven, and full implementation will take time. Until then, user accounts remain exposed to potential compromise.Multifactor authentication typically involves requiring a second verification step, such as a one-time code sent via text or generated through an authentication app.Read more: eToro’s Q1 2025 Shows Strong User Growth and $14.8 Billion AUA Despite Profit DipWhile effective, the added layer of protection is still optional for many users, a gap hackers continue to exploit. The FSA has urged investors to take basic precautions: avoid reusing passwords, regularly update software, and install anti-malware programs.The agency also warned that the official numbers may underestimate the true scale of the fraud, as some unauthorized transactions might not yet be discovered or reported. This article was written by Jared Kirui at www.financemagnates.com.

U.S. retail traders now have a new way to speculate on short-term cryptocurrency moves,following a partnership between Webull and Kalshi. The online brokerage added hourly crypto prediction contracts to its platform, allowing users to take simple positions on whether Bitcoin or Ethereum will rise or fall within the hour.Targeting Hourly Crypto Contracts “Prediction markets are about transparency and accessibility. They offer a dynamic way for users to participate in fast-paced trading,” said Anthony Denier, Group President and U.S. CEO of Webull.“Expanding access to cryptocurrency through prediction markets lowers the barriers of entry to financial markets while delivering precision tools for all experience levels.”This new feature expands Webull’s collaboration with Kalshi, the first CFTC-regulated prediction market exchange. Through the integration, Webull customers can now access Kalshi’s over/under-style crypto contracts directly from the platform.You may also like: Webull Dares to Enter Prediction Markets Where Robinhood FailedWebull said the move reflects its goal of offering accessible and risk-limited trading options. These hourly contracts allow users to make directional bets on crypto markets without needing to understand complex derivatives. Unlike traditional trading instruments, prediction markets avoid margin calls and hidden fees, making them attractive to those new to the space. Webull is one of the first full-service broker-dealers to embrace prediction market products, giving its user base of self-directed investors more tools to engage with volatile crypto assets in a structured way.Alternative Market ToolsThe crypto contracts are currently available only to Webull’s U.S. customers. Users can place trades with small amounts of capital, allowing them to test strategies or experiment without the risks typical of more advanced instruments.By integrating Kalshi’s hourly markets, Webull continues to broaden its product lineup, offering alternatives to traditional equities and options. The move aligns with a wider industry trend of merging regulated prediction tools with mainstream investment platforms to attract a more diverse user base.Webull and Kalshi PartnershipEarly this year, Webull Financial expanded its investment platform to include binary event contracts in collaboration with Kalshi, a CFTC-regulated prediction market exchange, as the demand for alternative trading instruments continues to grow.“We have continually focused on equipping our customers with the best products and streamlined trading tools while evolving alongside their needs,” commented Anthony Denier, Group President and US CEO of Webull. “Offering prediction markets is a key step in fulfilling that commitment.”During the unveiling, the companies mentioned that the first part of the collaboration will feature short-term cash-settled event contracts, with plans to extend it into a broader range of economic events. Webull also disclosed plans to become a clearing member of Kalshi This article was written by Jared Kirui at www.financemagnates.com.

iFOREX Financial Trading Holdings has pushed back its planned initial public offering on the London Stock Exchange (LSE), citing the need to wrap up a compliance inspection in the British Virgin Islands. The company, which had aimed to go public in late June, now expects only a “brief delay.”iFOREX Delays London IPO Amid Ongoing BVI Compliance ReviewThe inspection, described by iFOREX as a routine thematic review, began earlier this year and was disclosed in the company’s registration documents. According to iFOREX, the process is nearly finished, and the firm anticipates finalizing the inspection soon, clearing the way for the IPO.Despite the postponement, iFOREX says investor interest has been robust. “The Company is delighted with the strong investor interest in the IPO. Based on firm orders received to date, the institutional offer is heavily oversubscribed at the top of the indicative valuation range,” the company said in a statement.It is worth noting that in recent months, the long-awaited IPO of Israeli company eToro, set to debut on Wall Street, was also delayed. Ultimately, the listing was pushed back by a month, but this did not harm the company; on the contrary, the delay may have worked in its favor. The debut turned out to be quite successful. The question now is whether a similar delay could benefit iFOREX as well.iFOREX, founded in 1996 by Eyal Carmon, is a contracts for difference (CFDs) broker operating mainly through subsidiaries in the British Virgin Islands and Cyprus. Carmon will remain the majority shareholder after the listing and will continue to advise the business through a consultancy agreement. The company is currently led by CEO Itai Sadeh.Dropping Trading IncomeThe planned London listing would see iFOREX join peers such as IG Group, Plus500, and CMC Markets on the exchange. The offering is targeted primarily at institutional investors, with a portion available to retail investors in the UK through intermediaries.Financial filings show iFOREX has faced declining performance in recent years. Trading income dropped from $76.8 million in 2022 to $50.1 million in 2024, with profit before tax falling from $26.1 million to $6 million over the same period. The company attributes the downturn to lower market volatility and increased competition, which have led to tighter spreads and fewer active clients. In 2024, operational cash flow turned negative, totaling just under minus $60,000.More than half of iFOREX’s revenue comes from Asia, with Japan and India making up a significant share. The company has indicated it will consider applying for new licenses in markets such as Australia, Malaysia, New Zealand, the Philippines, Chile, the UAE, and the UK as part of its growth strategy.iFOREX has not disclosed the exact valuation it is seeking through the IPO, though previous reports have indicated a potential figure around £50 million, with up to £5 million in new capital to be raised.The company says it will provide further updates as the inspection process concludes and a new IPO date is set. This article was written by Damian Chmiel at www.financemagnates.com.

B2MEET is a private event series fostering strategic, off-the-record dialogue among senior financial professionals.The Cyprus edition takes place at Limassol Marina, offering an elegant, discreet setting for trusted exchange.The upcoming event features economist Azad Zangana discussing macro volatility, gold, interest rates, and hedgingB2PRIME is proud to host an exclusive event under the B2MEET concept, tailored for senior financial professionals to foster strategic dialogue, share market insights, and enable peer-to-peer exchangeMore than just a networking event concept, B2MEET represents an intellectual format for engaging with the industry’s sharpest minds. Built around closed-door dialogue and forward-looking ideas, it is designed for financial leaders who value actionable insight and prioritize depth over visibility. Each gathering is carefully curated, providing access to people and perspectives not found in traditional channels. B2MEET is where smart money meets smart ideas – and where ideas become influence.Eugenia Mykuliak, Founder & Executive Director of B2PRIME Group, explains the vision behind the initiative: “At B2PRIME, we’ve always believed that the most valuable conversations happen off the record, in trusted circles, with people who see where the market is heading. B2MEET is our way of investing in those conversations. It’s about shaping ideas and building the kind of intellectual capital that drives long-term value.”The upcoming Cyprus edition of the B2MEET event will take place on 16th June 2025 at the prestigious Limassol Marina, providing an elegant and discreet setting for Cyprus’ leading Heads of Dealing and senior trading executives.Keynote speaker Azad Zangana, renowned Independent Global Economist and former Senior European Economist at Schroders will deliver a timely briefing titled “Monetising Macro Volatility: Gold, Interest Rates & Hedging Strategies.” His talk will cover near-term economic outlook, evolving risk factors, and longer-term investment trends — explicitly tailored for market practitioners.B2MEET will continue with the next exclusive sessions planned for London and Dubai, extending its global reach and cultivating a high-impact community of financial thought leaders.About B2MEETB2MEETis a private event series by B2PRIME Group, uniting elite market professionals for high-impact, off-the-record discussions. Unlike large-scale conferences, B2MEET fosters strategic depth, confidential dialogue, and long-term value — built around relationships that matter. Each edition is highly curated, limited in attendance, and tailored to senior roles where insight meets execution.About B2PRIMEB2PRIME Group is a global financial services provider for institutional and professional clients. Regulated by leading authorities—including CySEC, SFSA, FSCA, and FSC Mauritius—the company offers deep liquidity across multiple asset classes. Committed to the highest compliance standards, B2PRIME delivers institutional-grade trading solutions with a focus on reliability, transparency, and operational excellence.This article is neither produced by nor contributed to by any editorial team member of Finance Magnates, nor does it necessarily reflect the views of the editors from Finance Magnates. This article was written by FM Contributors at www.financemagnates.com.

SG-FORGE, the digital asset unit of French banking group Societe Generale, has launched a U.S. dollar-pegged stablecoin named USD CoinVertible (USDCV). The asset is issued on both the Ethereum and Solana blockchains.BNY Mellon serves as the reserve custodian for USDCV. Societe Generale stated that trading of the stablecoin is expected to begin in early July. The asset is not available to residents of the United States.Major Bank Issues USD StablecoinThis marks the first time a major global banking group has issued a USD-backed stablecoin on public blockchains. It follows SG-FORGE’s release of EUR CoinVertible (EURCV), a euro-denominated stablecoin, in 2023.USDCV targets both institutional and retail clients based outside the United States. It is designed to support real-time, round-the-clock conversions between fiat currency and blockchain-based assets.Societe Generale will launch a dollar-backed stablecoin called "USD CoinVertible" through its crypto unit SG-FORGE, becoming the first major European bank to do so. It will be available on Ethereum and Solana, with public trading expected in July. pic.twitter.com/Kws4xmuf1T— Satoshi Club (@esatoshiclub) June 10, 2025You may find it interesting at FinanceMagnates.com: Spectrum Markets Partners with SocGen to Offer New Assets in Spain and Scandinavia.SG Forge Licensed for Crypto ServicesEarlier, FinanceMagnates.com reported that Societe Generale obtained a license to provide cryptocurrency services in France, becoming the first company to receive such approval in the country. The license was granted to SG Forge, by the French financial regulator, Autorité des Marchés Financiers (AMF). This license permits the firm to offer services including buying, selling, exchanging, and custody of digital assets.While several cryptocurrency exchanges, such as Binance, are registered with the AMF, Societe Generale is the first to receive a formal license from the regulator. The company is the third largest bank in France by market capitalization. This article was written by Tareq Sikder at www.financemagnates.com.

Spotware, the developer of multi-asset trading platform cTrader, is proud to announce that cTrader has been named Best Mobile Trading App at the prestigious Global Forex Awards B2B 2025.This accolade solidifies cTrader’s position as the gold standard in mobile FX/CFD technology, reflecting Spotware’s 15 years of innovation, stability and relentless commitment to performance, usability and trader-first design. Voted for by over 7,500 verified industry professionals the award highlights companies that are setting new standards across the global B2B forex ecosystem.“The shift to mobile trading is irreversible. For firms targeting discerning traders, a best-in-class mobile platform isn’t an advantage. It’s the baseline for credibility and engagement,” said Ilia Iarovitcyn, CEO of Spotware. “That’s why cTrader Mobile continues to evolve as a high-performance platform designed to meet the highest standards of usability, reliability and operational excellence. This award is a testament to the exceptional work of our mobile team and our ongoing mission to deliver powerful, scalable tools that help our clients thrive in today’s fast-paced trading landscape.”Cutting-edge features that put traders firstThe latest release of cTrader Mobile 5.2 introduces advanced capabilities such as a risk-reward tool that allows traders to calculate deal volume directly on the chart based on stop-loss and risk exposure. By offering intuitive modes for risk, reward or size, the feature supports responsible, informed trading and elevates the user experience.In addition, cTrader Mobile boasts an industry-leading one-second app launch time, a critical advantage in volatile markets where every second counts. This speed, paired with real-time updates and continuous UI/UX improvements, ensures the app remains ahead of trader expectations and evolving business demands.Empowering brokers with a branded mobile edgeFor brokers and prop trading firms, the ability to offer a fully branded version of cTrader Mobile plays a key role in client acquisition, engagement and retention. With its core values of performance, transparency and convenience, cTrader enables firms to meet the expectations of modern traders and deliver a premium experience.This latest recognition also reinforces Spotware’s reputation as a trusted technology partner, supporting clients globally while expanding strategically into high-growth regions such as Asia, where mobile adoption and demand for high-quality trading experiences continue to surge.Spotware extends its sincere thanks to all clients, partners and traders who supported cTrader during the voting process. This win is a proud moment in Spotware’s ongoing journey to provide transparent, forward-thinking solutions that put Traders First™.About cTradercTrader is a multi-asset FX/CFD trading platform by Spotware, built on the Traders First™ principle to serve traders, brokers and prop firms with cutting-edge features and lightning-fast execution. With advanced native charts, built-in social trading, free cloud execution for trading algorithms, cTrader delivers a powerful, premium trading experience. As an Open Trading Platform™, 100+ third-party integrations via APIs and plugins are on offer. The cTrader Store allows developers to monetise trading algorithms and reach over 8 million traders, while helping brokers grow through IB-focused solutions and seamless onboarding. This article was written by FM Contributors at www.financemagnates.com.

The partnership that started in 2023 is back for another round. B2BINPAY, the all-in-one crypto ecosystem for business, is renewing its official sponsorship of Athletic Club through 2025, staying proudly on the team’s sleeve.After a bright 2024/25 season in which Athletic Club secured fourth place in La Liga (Spain’s top national league), the club qualified directly for the UEFA Champions League 2025/26 season. Athletic Club will face the best teams in the world, with the Champions League matches starting on September 16, 2025. Given Athletic’s ambition, the extension of the partnership became a logical continuation, and just another reason for pride. Together with the club on and off the field, B2BINPAY continues to support those who are not afraid of progressive goals.“We have seen Athletic Club’s incredible spirit, and their entrance into the UEFA Europa League is a proud moment,” said Arthur Azizov, CEO of B2BINPAY. “We are thrilled to continue supporting the team as they aim for even greater achievements on the European stage.”“We are confident that it will continue to be a very productive partnership and that it will help us achieve the goals set by both parties,” says Athletic Club General Manager Jon Berasategi. Betting on progress is what unites B2BINPAY and Athletic Club. While one is defeating the fields of Europe, the other is conquering the crypto markets. Today, the platform serves more than 800 customers worldwide and has already processed transactions worth over $3.5 billion.B2BINPAY is not only a payment gateway, but a comprehensive infrastructure, a payment orchestration platform, supporting over 350 cryptocurrencies, dozens of blockchain networks and a strict compliance policy. The company’s core solutions include crypto payment processing, wallet-as-a-service, swaps, staking and on-ramp/off-ramp products. Altogether, B2BINPAY offers everything that helps businesses step into crypto without the confusion. Just like sportsmen push limits to redefine what’s possible, innovative companies aim to reshape entire industries. This partnership recognizes that ambition is not exclusive to the arena, it is what drives companies like B2BINPAY to change the rules of the game.About B2BINPAYB2BINPAY (https://b2binpay.com/) is Europe’s comprehensive crypto platform for businesses. As an all-in-one ecosystem, the company offers secure and advanced services for integrating cryptocurrency payments into daily operations. Supporting over 350 coins and the majority of blockchain networks, B2BINPAY processes billions in transactions annually. The platform operates fully under European regulations and adheres strictly to KYC and KYT protocols, ensuring safe and compliant operations. This article was written by FM Contributors at www.financemagnates.com.

Finalto is sending a senior delegation to the 2025 iFX EXPO International, which will be held in Limassol, Cyprus on 17-19 June. iFX EXPO International is a unique opportunity for the brokers, prop firms, fintech and regtech companies, traders and leading service providers from around the world to network, share cutting edge insight, discuss best practice and showcase their services. Andy Biggs, CEO of Finalto Trading, who is scheduled to appear on a panel discussing the evolution of regulatory challenges in the industry, believes the expo provides a timely international perspective on the opportunities, challenges, and innovations shaping the industry. “As a global trading company, it’s always great for us to attend iFX EXPO International and deepen connections with partners and clients around the world, while sharing the latest insights from different regions and markets,” Biggs said.The delegation from the Finalto London office will also include UK CEO Paul Groves; Joint Heads of Sales for EU, UK and LATAM, Chauncey Boreham and Paul Jackson; and Events & Marketing Manager Carolina Savciuc. Chris Cotterell, Managing Director of Finalto Australia, will represent the company’s Australian office.A global hub for online trading“iFX EXPO International in Cyprus is a key hub for the sector, bringing together industry leaders from a wide range of markets. We’re sending a senior team to connect with partners, share insights, and highlight how Finalto’s liquidity, risk management, and fintech solutions can support long-term growth and collaboration,” Groves said.iFX Expo International 2025 will be held at City of Dreams Mediterranean Integrated Resort, Limassol, Cyprus on 17-19 June. · Andy Biggs will be participating in the panel discussion ‘Trade in Transition: Online Trading Business on the Eggshells’, at Speaker Hall on 19 June at 11.15 · Get in touch to schedule a face-to-face or virtual meeting with the Finalto team: sales@finalto.comAbout FinaltoFinalto is an innovative prime brokerage that provides bespoke liquidity and fintech solutions. Our award-winning technology and expertise enable us to deliver effective, flexible service to a wide range of institutional clients globally, personalised to suit their needs. We deliver best-in-class pricing, execution and prime broker solutions across multiple assets, including CFDs on Equities, Indices, Commodities, Cryptos and rolling spot FX, Precious and Base Metals, and bespoke products such as NDFs. This article was written by FM Contributors at www.financemagnates.com.

Cboe Global Markets has appointed Ben Gough as Global Head of FX Liquidity Management, marking a significant hire for the derivatives and securities exchange operator's foreign exchange division.Cboe Hires FX Industry Veteran Ben Gough to Lead Global Liquidity ManagementThe London-based executive brings extensive foreign exchange experience to his new position. He spent nearly four years at Fenics FX, where he worked in sales and liquidity management roles. Before that, Gough built his career over 14 years at UBS, progressing through various positions across multiple global financial centers.“I’m happy to share that I’m starting a new position as Global Head of FX Liquidity Management at Cboe Global Markets,” he wrote in LinkedIn post.At UBS, Gough's career trajectory took him from Zurich to New York and London. He started as an FX spot trader in Zurich in 2007 and worked his way up through electronic trading roles. His final position at the Swiss bank was Head of E-Trading Strategic Growth, where he managed all UBS ECN FX relationships globally.Moreover, he held several leadership positions including Global Head of FRC E-Trading and Head of FX E-Trading Americas. His responsibilities included hedging, order placement, pricing strategy optimization, liquidity management, and client interaction.In the meantime, Cboe Global Markets announced the departure of its Global President, Dave Howson. After three years in Chicago steering the exchange operator’s global expansion, Howson plans to return to the UK.$1T In Monthly FX VolumesCboe operates as one of the world's leading derivatives and securities exchange networks, providing trading solutions across multiple asset classes including equities, derivatives, and foreign exchange. The company serves markets across North America, Europe, and Asia Pacific.The exchange's FX division offers spot and non-deliverable forward liquidity, along with enhanced liquidity management tools, tailored reporting, and various execution options for clients.The platform reports exceptionally high monthly trading volumes in the FX market, regularly exceeding $1 trillion. Although May saw a notable decline due to reduced volatility in the currency markets, daily volumes still averaged around $48 billion. This article was written by Damian Chmiel at www.financemagnates.com.

The cryptocurrency market is experiencing a remarkable resurgence in June 2025, with Bitcoin price leading the charge toward new highs, closing the strongest session in a month. At the same time, Ethereum price, XRP price, and Dogecoin price all demonstrate strong bullish momentum. Understanding why crypto is up requires examining the convergence of institutional adoption, technical breakouts, and fundamental developments driving this market-wide rally. You will find all of that in the article below, plus the newest crypto price predictions.Bitcoin Price Breaks Through $110,000 ResistanceBitcoin (BTC) surged by more than 4% on Monday, gaining nearly $5,000 in a single day and testing the $110,500 level. Although Tuesday’s session has brought a modest correction of under 1%, and the price failed to hold above $110,000, Bitcoin remains close to its current all-time high of $112,000, set on May 22. It is worth noting that yesterday’s surge marked Bitcoin’s strongest daily move since May 8, over a month ago.The recent surge in Bitcoin price is supported by several key factors. Institutional inflows through Bitcoin ETFs have pumped $2.8 billion into the market in May alone, with total ETF assets exceeding $122 billion. This represents unprecedented institutional adoption, with large holders consistently buying during price dips - a classic bullish signal that often precedes further gains.At this stage, technical analysis becomes more difficult as the price nears historical highs, which will likely act as resistance. In my view, any pullbacks should be seen as buying opportunities, especially near the 50-week moving average around $102,000 or the psychological support at $100,000. Only a drop below $92,000 and the 200-day moving average would indicate a potential shift in momentum back to the bears."Positive sentiment from the SECGov's official X account on DeFi has helped lift the market and hence why we see Ethereum ($ETH) outperforming its position for a number of years,” said Paul Howard at Wincent. “Given historical low volatility, we can expect Bitcoin ($BTC) to continue trading in this range for the near term with a gradual move towards fresh all-time highs (ATH) in the coming months.”Bitcoin’s rally also lifted several key altcoins, which will be discussed in the next part of this article.Ethereum Posts Strongest Gain in Five Weeks, Tests Upper Range of Ongoing ConsolidationAs shown on the chart below, Ethereum (ETH) posted a 6.7% gain during Monday’s session, allowing the price to test the highest levels seen in June. It also returned to the upper boundary of the consolidation pattern that has been forming for about a month, ranging between $2,700 and $2,740. Notably, this was Ethereum’s strongest daily gain in approximately five weeks.From a technical analysis standpoint, Ethereum has been consolidating between $2,700 and $2,400 for about a month. A breakout above the upper boundary could pave the way for further gains and a potential return to the psychological level of $3,000. Conversely, a break below the lower boundary could trigger renewed bearish momentum, with the price possibly falling to $2,200, February’s lows.The surge in Ethereum price reflects growing institutional confidence and network fundamentals. BlackRock's iShares Ethereum Trust has recorded 23 consecutive trading days without an outflow, demonstrating sustained institutional demand. Additionally, the Ethereum Foundation's recent restructuring of its Protocol Research and Development division has injected fresh energy into the ecosystem.How high can Ethereum go becomes a critical question as technical patterns suggest continued upside. The $2,700 price zone has served as resistance multiple times over the past month, but breaking through this level could trigger momentum toward $2,900-$3,000 range predicted for July 2025."The current pump in crypto markets was actually expected as part of the ongoing, controlled volatility we have seen in recent weeks,” said Dr Kirill Kretov, Senior Automation Expert at CoinPanel. “This time, traders have found a convenient excuse: people are looking positively on the upcoming GENIUS Act (which could be accepted as soon as this year), overall developments around stablecoins (like those in the UK), and even the fact that the public fight between Trump and Elon seems to have calmed.”You may also like: How High Can Bitcoin Go? BTC Price Eyes $140K Summer Target as Institutions Drive Predictions of New RallyXRP Surges 10% on Institutional RecognitionXRP price posted an impressive weekend rally, gaining nearly 10% and testing monthly highs around $2.28. This represents the strongest single-day gain in nearly a month, with XRP significantly outperforming other major cryptocurrencies during the same period.The catalyst behind XRP price strength includes its addition to the Nasdaq Crypto US Settlement Price Index, marking a pivotal milestone for institutional recognition. This development, combined with growing optimism around potential XRP ETF approval, has renewed investor confidence in the token's long-term prospects.Ripple's expanding global adoption further supports the bullish case for XRP price. The company's platform now claims coverage of over 90% of the global foreign exchange market, with XRP playing a central role in modernizing cross-border payments and challenging the outdated SWIFT system infrastructure.XRP rose 2.4% during Monday’s session, reaching $2.33. Although the move was relatively modest, it confirms the ongoing breakout from the flag pattern discussed in yesterday’s XRP-focused analysis. Based on that analysis, the token could now be heading toward the $3.30 level.Dogecoin Price Rebounds, but Resistance LoomsDogecoin (DOGE) followed the lead of its larger peers, rising 5.5% on Monday and continuing its rebound from June lows, which had brought the price to monthly minimums. Despite this recovery, the token remains below the 50- and 200-day exponential moving averages. A break above the psychological threshold of 20 cents could relieve selling pressure further. Until then, however, my positioning would still lean toward the bearish side.Technical analysis suggests Dogecoin price could break above the $0.20 resistance level, with monthly candlestick patterns indicating a potential rally peak between June and July 2025. The positive 11.7% close in May has strengthened the bullish case, with previous cycles producing notable upside moves.Crypto price predictions for Dogecoin suggest the token could approach $0.55 by the end of Q2 2025, with potential to surpass the $1 milestone during the second half of the year. However, significant resistance is expected during Q3, potentially causing temporary pullbacks before year-end targets of $1.05-$1.10.Why Is Crypto Going Up? Market Drivers Behind the RallyUnderstanding why is crypto up requires examining multiple converging factors. The global cryptocurrency market capitalization has rebounded to $2.19 trillion, with 24-hour trading volume jumping 67.81% to $57.09 billion. This surge in activity reflects renewed investor interest and institutional participation.Macroeconomic factors play a crucial role in the current rally. Geopolitical tensions and policy uncertainties are pushing traders toward Bitcoin as a hedge against traditional market volatility. Additionally, the correlation between Bitcoin and global M2 money supply suggests that monetary policy decisions continue influencing crypto valuations.Regulatory developments have also contributed to positive sentiment. The increasingly crypto-friendly political climate and clearer regulatory frameworks have reduced institutional barriers to entry, enabling larger capital allocations to digital assets.“Looking ahead to Q3, we can expect heightened volatility,” added Kreto. “President Trump loves the media, and this market is extremely sensitive to sentiment. It’s only logical to expect other powerful announcements from the president’s office, sparking sharp moves across all markets. Meanwhile, big players will continue to hide their actions in the volatility; extracting profits from one-sided, unhedged traders who get caught on the wrong side of the move."Bitcoin, Ethereum and XRP Price Predictions and Future OutlookCrypto price predictions for the remainder of 2025 remain overwhelmingly bullish. Bitcoin could potentially reach between $150,000 and $200,000 by year-end, with some analysts targeting even higher levels based on supply-demand dynamics. The fact that 95% of all Bitcoin has been mined while 95% of the world doesn't own Bitcoin creates a compelling scarcity narrative.Ethereum price forecasts suggest trading ranges between $2,800-$3,000 through summer 2025, with potential stretched targets of $5,000 if bullish momentum accelerates. The transition to proof-of-stake and growing DeFi ecosystem continue strengthening Ethereum's fundamental value proposition.XRP price predictions span an unusually wide range, from conservative targets of $3-$8 in 2025 to more aggressive scenarios extending toward $100 by 2026. The outcome of ongoing regulatory developments and potential ETF approvals will significantly influence these projections.The current crypto rally represents more than typical market speculation. Institutional adoption, regulatory clarity, and fundamental technological developments are creating a foundation for sustained growth. While volatility remains inherent to cryptocurrency markets, the convergence of these positive factors suggests the current uptrend could extend well into 2025 and beyond.Crypto News, FAQWhy Is the Crypto Market Going Up?The crypto market's impressive rally stems from several key catalysts working in tandem. Institutional adoption has reached unprecedented levels, with major financial institutions and corporations adding Bitcoin and other cryptocurrencies to their balance sheets. BlackRock's Bitcoin ETF has recorded 23 consecutive trading days without outflows, while corporate treasury investments continue to pour into the market.Why Is XRP Going Up?XRP price has demonstrated exceptional strength with a 10% weekend gain, driven by several specific catalysts. The most significant driver is XRP's inclusion in the Nasdaq Crypto US Settlement Price Index on June 2, marking a pivotal milestone for institutional recognition. This development has renewed market hopes for altcoin-based ETFs and enhanced XRP's profile within regulated financial productsWhich Crypto Will Boom in 2025?Several cryptocurrencies are positioned for exceptional performance in 2025 based on fundamental developments and market dynamics. Bitcoin remains the flagship asset with projections ranging from $150,000 to $300,000 by late 2025. The combination of supply scarcity post-halving, institutional demand, and its role as digital gold creates a compelling long-term narrative.Ethereum is expected to benefit significantly from its Layer-2 ecosystem expansion and continued DeFi innovation, with price targets ranging from $2,800 to $4,911. The network's transition to proof-of-stake and growing institutional adoption through ETFs provide strong fundamental support.How Long Will Crypto Bull Run Last?The current crypto bull run is expected to continue well into 2025 and potentially beyond, based on historical patterns and current market dynamics. Analysts predict the bull run's peak between April and May 2025, though some forecasts extend the timeline significantly further.Historical precedent suggests bull runs typically last 12 to 18 months from their initial kickoff, often revolving around Bitcoin halving cycles that occur roughly every four years. The April 2024 halving has created the supply scarcity that historically precedes extended price appreciation periods. This article was written by Damian Chmiel at www.financemagnates.com.

iSAM Securities announced today (Tuesday) that it has moved to a new office space in Hong Kong, just days after opening a new office in Cyprus. The company emphasised that the new Hong Kong office will support its global expansion efforts and meet increasing demand across the Asia-Pacific region.A New Office to Handle Regional DemandThe opening of the new office comes as the company expands its Hong Kong operations with new hires across several teams, including sales, trading, and customer service.Barry Flanigan, who has been with iSAM since 2009, will lead the new Hong Kong office. He was promoted to Head of Asia Pacific at iSAM Securities last year, having previously served as Head of e-Trading.“This move is a signal of our strong commitment to the region,” Flanigan said, commenting on the importance of the new Hong Kong office.“We’re continuing to grow the team to ensure we can support clients with the level of service and expertise they deserve. As markets in Asia evolve, it’s important that we’re well-positioned locally to respond quickly, provide high-quality infrastructure, and build long-term partnerships with firms operating across time zones.”A Global CompanyKnown for offering institutional liquidity and trading technology, iSAM opened a new office in Limassol late last month to support its clients in Europe, the Middle East, and Africa.In addition to Hong Kong and Cyprus, iSAM Securities operates from offices in the United Kingdom, the United States, and the Cayman Islands. It is regulated by the FCA in the UK, the SFC in Hong Kong, and the CFTC in the US. It is also registered with CIMA in the Cayman Islands.However, iSAM is not the only company expanding with new offices. Over the past few years, brokers and trading industry service providers have opened offices across various regions. Earlier this year, CMC Markets opened an office in Bermuda after gaining a licence in the offshore jurisdiction. Companies that opened Cyprus offices include Deriv, Doo Prime, CPT Markets, and several others. However, most firms are entering the Middle East, particularly the United Arab Emirates. This article was written by Arnab Shome at www.financemagnates.com.

Saxo Bank announced today (Tuesday) the launch of fractional trading for its clients in Singapore. The service is available for instruments across asset classes on the brokerage platform.Lowering the Entry Barrier to InvestingFractional shares allow traders to purchase part of a whole share with whatever capital they have. This significantly lowers the entry barrier to investing. For example, if Apple shares are trading at $200 each and a trader has only $100 available, they can buy $100 worth of Apple shares and will own half a share.“This allows clients to invest in high-priced stocks with a smaller amount of capital,” Saxo explained.“Also, by investing precise amounts, investors are better able to fully utilise all available funds. Overall, this offers clients more flexibility, allowing them to construct portfolios that fit different budgets.”You may also like: Saxo Bank Anticipates Negative Impact on 2025 Revenue Following RestructuringAlthough the concept of fractional share trading is not new, the service has gained popularity in recent years. Many brokers now offer fractional share trading to retail investors, thus lowering the entry barrier to the markets.The growing popularity of fractional share trading has also drawn the attention of global regulators. Last year, the United States’ Financial Industry Regulatory Authority (FINRA) introduced new guidelines requiring the reporting of both whole share and fractional share quantities.The Cyprus Securities and Exchange Commission (CySEC) also clarified when fractional share investments qualify as direct share ownership under MiFID II.Saxo’s Change of OwnershipMeanwhile, Saxo Bank's ownership is changing. Earlier this year, Swiss private bank J. Safra Sarasin agreed to acquire a 70 per cent stake in Saxo Bank in a deal valued at around €1.1 billion ($1.19 billion). The transaction values the Danish online trading and investment services provider at approximately €1.6 billion.The new owner will purchase Finnish firm Mandatum's 19.8 per cent stake in Saxo, along with the 49.9 per cent stake held by Chinese group Geely. Saxo Bank’s founder and CEO, Kim Fournais, will retain his 28 per cent stake and will continue to serve as the company’s CEO. This article was written by Arnab Shome at www.financemagnates.com.

Fortex Technologies rolled out version 2.0 of its Fortex 7 trading platform, adding features designed to help Forex brokers manage client accounts more efficiently while keeping traders active on their systems.Fortex Upgrades Trading Platform with Multi-Chart Features and Risk NotificationsThe company built the update around what it calls streamlined functionality that works the same way whether traders access it through mobile apps, web browsers, or desktop software. Fortex says the changes address needs of both new brokerages trying to grow and established firms looking to retain high-volume clients.The most visible change lets traders pull up four different price charts in one window, whether they want to compare different currency pairs or look at the same pair across multiple timeframes. This multi-chart setup runs on both web and desktop versions of the platform.Fortex also added “comprehensive risk notifications” across all three platform versions. The system now shows pop-up alerts when trading volumes or prices hit predetermined risk levels that brokers can customize.The notifications aim to help traders spot potential problems faster while giving brokers another tool to manage overall risk exposure across their client base. Fortex positions this as a way for brokers to keep clients engaged longer while reducing the chance of large losses that could hurt the brokerage.Related: Fortex Mobile Platform Adds MT5 Account SupportAccount Switching Gets SimplerMoreover, traders can now jump between different accounts - whether live trading accounts, demo accounts, or sub-accounts - with just one tap on mobile or one click on web and desktop platforms. The system remembers login credentials, so traders don't need to type usernames and passwords each time they switch.The mobile app now stores chart indicators locally on traders' devices. When someone sets up technical analysis tools on a price chart, those settings stick around even if they switch to looking at different currency pairs or log into different accounts.Fortex says this cuts down on the time traders spend reconfiguring their charts each session, potentially leading to longer trading sessions and fewer support requests to brokers' help desks.The company also worked on network routing to deliver what it calls "sub-second data updates" across mobile, web, and desktop platforms. Fortex targets this improvement at brokers serving international clients, saying consistent low-latency connections should reduce complaints about trade execution delays.Key Updates in Fortex 7 v2.0A month ago, Forex and regulatory consultancy FXHill teamed up to deliver an integrated solution that covers both the technology backbone and regulatory demands of modern brokerage businesses. This article was written by Damian Chmiel at www.financemagnates.com.

Trading firm Virtu Financial (NASDAQ: VIRT) has teamed up with Swedish investment management technology provider Limina to offer clients a combined platform that handles everything from order management to post-trade settlement.Virtu Financial Partners with Limina to Streamline Trading OperationsThe partnership centers around Virtu's TradeOPS platform, which automates the back-office work that happens after trades are executed. Limina brings its cloud-based order and portfolio management system to the table. Together, they're promising buy-side firms a smoother path from placing orders to settling trades.Swedish fund manager Cliens has already signed on as the first client to use the integrated service. The firm is now processing its trades through Virtu's system while managing orders through Limina's platform."By providing streamlined and effective solutions tailored to clients' needs, we can significantly reduce the operational burden and allow firms to refocus on what truly matters: managing investments and driving performance," said Prem Balasubramanian, who heads Virtu's TradeOPS platform.The timing isn't coincidental. Recent changes in how trades settle have created new problems for investment firms. The industry's move to T+1 settlement , where trades must be completed one business day after execution instead of two, has compressed timelines. Meanwhile, the shift from older SWIFT messaging formats to newer standards has added technical complexity.Related: Virtu Financial Q4 Trading Income Soars 104% on Strong VolumesNordic ExpansionThe partnership appears designed to help Virtu expand its reach in Nordic markets, where Limina has established relationships. Kristoffer Fürst, Limina's CEO, called the partnership "an obvious choice to further strengthen the integration capabilities of Limina's Order Management System, not only to DTCC CTM but to all venues that tie into Virtu TradeOPS including SWIFT and more".For Cliens, the appeal is operational efficiency. CEO Martin Öqvist said "The integrated solution that Virtu and Limina offer Cliens helps us extend our straight-through process, giving time to more productive tasks which adds value to our customer".Virtu, which trades on hundreds of venues across more than 50 countries, has been building out its post-trade services as firms look to outsource complex operational tasks. The company's TradeOPS platform handles matching, settlements and payments — areas where mistakes can be costly.In the meantime, the company has introduced Virtu Technology Solutions (VTS), a product suite designed to offer its execution services technology to sell-side broker-dealers globally. This article was written by Damian Chmiel at www.financemagnates.com.

Federal prosecutors in the United States arrested a Russian cryptocurrency executive yesterday (Monday) on charges he ran a massive money laundering operation that moved more than half a billion dollars for sanctioned Russian banks through the U.S. financial system.Russian Crypto CEO Arrested for Alleged $530 Million Money Laundering SchemeIurii Gugnin, 38, who lives in Manhattan and founded cryptocurrency payment companies Evita Investments and Evita Pay, faces 22 criminal counts, including wire fraud, bank fraud, sanctions violations and money laundering. He was ordered held without bail after his arraignment in Brooklyn federal court.Prosecutors say Gugnin processed roughly $530 million in payments between June 2023 and January 2025, primarily using Tether, a popular dollar-pegged stablecoin. His clients included individuals and businesses associated with major Russian institutions, such as Sberbank, VTB Bank, Sovcombank, and Tinkoff Bank.“The defendant is charged with turning a cryptocurrency company into a covert pipeline for dirty money, moving over half a billion dollars through the U.S. financial system to aid sanctioned Russian banks and help Russian end-users acquire sensitive U.S. technology,” said John A. Eisenberg, Assistant Attorney General for National Security.You may also like: Coinbase Customer Data Leak Incident Faces DoJ InvestigationsElaborate Deception SchemeCourt documents reveal Gugnin went to extraordinary lengths to hide his Russian connections from U.S. banks and crypto exchanges. He repeatedly told financial institutions that Evita didn't do business with Russian entities or sanctioned organizations - statements prosecutors say were completely false.To cover his tracks, Gugnin allegedly doctored more than 80 invoices, digitally erasing the names and addresses of Russian counterparties. He also maintained personal accounts at two sanctioned Russian banks, Alfa-Bank and Sberbank, while living in the United States.The operation wasn't just about moving money. Prosecutors say Gugnin helped facilitate the export of sensitive U.S. technology to Russian clients, including an anti-terrorism-controlled server. He also allegedly laundered funds from a Moscow supplier purchasing parts for Rosatom, Russia's state-owned nuclear energy company.Suspicious Online SearchesInvestigators found evidence Gugnin knew he was under scrutiny. His internet search history included queries like "how to know if there is an investigation against you," "money laundering penalties US," and "Iurii Gugnin criminal records."He also visited web pages titled "am I being investigated?" and "signs you may be under criminal investigation."Despite these apparent concerns, Gugnin continued living lavishly in Manhattan. The Wall Street Journal profiled him last fall as a high-net-worth renter paying $19,000 monthly for his apartment.Crypto in the courts: in EDNY today 22-count indictment charging Iurii Gugnin with wire and bank fraud, violating IEEPA usig his cryptocurrency company “Evita” to funnel more than $500 million of overseas payments through U.S. banks & crypto platforms. Detained.. pic.twitter.com/4Yl8roG4fD— Inner City Press (@innercitypress) June 9, 2025Intelligence ConnectionsThe Justice Department says Gugnin maintained direct ties to Russian intelligence officials and contacts in Iran - both countries that don't extradite to the United States. This adds a national security dimension to what prosecutors describe as a sophisticated financial crime.Gugnin also allegedly failed to implement required anti-money laundering protocols at his companies and didn't file suspicious activity reports as mandated by federal law. When he did register Evita Pay as a money transmitter in Florida, prosecutors say he made false statements about the company's business activities.Severe PenaltiesThe charges carry severe potential penalties. Bank fraud alone carries a maximum 30-year prison sentence, while other counts range from five to 20 years. If convicted on all charges, Gugnin could face consecutive sentences extending well beyond his natural lifetime.“The Department of Justice will not hesitate to bring to justice those who imperil our national security by enabling our foreign adversaries to sidestep sanctions and export controls,” added Eisenberg.The case was brought through the Justice and Commerce Departments' Disruptive Technology Strike Force, an interagency effort targeting actors who help authoritarian regimes acquire critical technology.Similar CasesThis is not the first time that foreign authorities have investigated potential money laundering involving cryptocurrency exchanges on behalf of Russia, Russian citizens, or Russian companies. FinanceMagnates.com reported a similar incident in September 2024, when an individual was charged with laundering over $1.15 billion. Over a year ago, in late March 2024, an investigation led by the United States and the United Kingdom linked $20 billion worth of crypto transactions to Russian exchanges, allegedly used to circumvent sanctions imposed on the country following its 2022 invasion of Ukraine. This article was written by Damian Chmiel at www.financemagnates.com.

Four individuals in Australia have pleaded guilty to operating a coordinated pump-and-dump scheme on the encrypted messaging platform Telegram. They now face a maximum prison sentence of 15 years for conspiracy to commit market rigging, along with fines of up to AUD 1 million.A Coordinated Scheme to Rig the MarketsAnnounced today (Tuesday), three of the individuals rigged the market between 28 August 2021 and around 22 September 2021, while another participated in the fraudulent scheme between 17 September 2021 and around 22 September 2021.The guilty pleas came almost a year after the Australian Securities and Investments Commission (ASIC) criminally charged the four with manipulating the prices of Australian stocks. They had formed a private group on the Telegram app, where they discussed and selected penny stocks to promote to the public. The Telegram group was called the ‘ASX Pump and Dump Group.’You may also like: Telegram Has Become the “Free Speech” Icon, but It Is Yet to Put Limits on “Free Fraud”Over three weeks in September 2021, nine announcements were made in the Telegram group to boost the stock prices of selected 'target' stocks.The perpetrators bought the target stock before making the pump announcement, intending that the promotion and subsequent public purchases would drive the share price to an artificial level. They then sold their holdings once the stock price had significantly increased.“ASIC takes breaches of the market manipulation rules very seriously and, as demonstrated in this matter, we will not hesitate to take enforcement action where appropriate,” said ASIC Chair Joe Longo.Telegram’s Encryption Facilitating FraudstersMeanwhile, Telegram is facing scrutiny from multiple governments worldwide due to the rise of fraud and scams on the platform. Recently, Vietnam, a Southeast Asian country with a population of over 100 million, blocked access to Telegram for failing to cooperate with local authorities in addressing crimes carried out via the messaging app.According to Vietnamese authorities, more than 13,000 victims were defrauded of over VND 1 trillion (US$38 million) through scams conducted on Telegram. Additionally, the personal data of 23 million people was reportedly sold illegally through the app.Moreover, Russian forex brokers also ended customer support via Telegram following the enforcement of a new domestic law prohibiting financial institutions and government bodies from using foreign messaging platforms for communication. This article was written by Arnab Shome at www.financemagnates.com.

The former chief executive of collapsed stockbroking firm BBY Limited appeared in court today (Tuesday) facing fresh charges related to alleged dishonest conduct involving a $192 million share acquisition.Former BBY CEO Faces Additional Fraud Charges Over $192 Million Share DealArunesh Narain Maharaj was charged with one count of procuring BBY's dishonest conduct in communications with ASX, Australia's primary stock exchange. The charges stem from alleged misconduct between June and December 2014 involving the acquisition of shares in the commodities company Aquila Resources.The Australian Securities and Investments Commission (ASIC) alleges Maharaj facilitated dishonest communications between BBY and the stock exchange during the substantial share transaction."Maharaj aided, abetted, counselled or procured BBY in the course of carrying on a financial services business, to engage in dishonest conduct in communications with ASX Ltd and its subsidiaries, in relation to a $192 million acquisition of shares in Aquila Resources Ltd on behalf of a client," the ASIC commented in the official statement.You may also like: ASIC Finds $1 Trillion in Funds Lack Proper OversightMounting Legal ChallengesThis brings the total charges against Maharaj to three in connection with ASIC's investigation into BBY's operations. He already faces two separate fraud charges related to allegedly helping the firm improperly obtain funding from St George Bank, a Westpac Banking Corporation division.Those earlier charges, filed in October 2023, accuse Maharaj of facilitating deceptive practices that allowed BBY to access unauthorized overdraft facilities. The alleged misconduct occurred in June 2013 and again from November 2014 to early 2015.The Downing Centre Local Court adjourned today's proceedings until August 5, 2025. The case is being prosecuted by the Commonwealth Director of Public Prosecutions following ASIC's referral.Severe Penalties at StakeThe latest charge carries significant potential consequences. Under the Corporations Act, Maharaj faces up to 10 years imprisonment, fines reaching $765,000, or three times the value of any benefits obtained. The maximum penalties have since been increased beyond the timeframe of the alleged offenses.Each of the existing fraud charges also carries a maximum 10-year prison sentence under New South Wales criminal law.Related: Expert Used “Psychological Bullying” to Take $940K from Forex Investors. Now He's Going to PrisonBBY's Collapse and AftermathBBY Limited operated as a stockbroking and financial services firm before entering voluntary administration in May 2015. The company was subsequently liquidated in June 2015, leaving substantial client shortfalls that affected numerous investors.ASIC suspended BBY's Australian Financial Services license in May 2015, maintaining that suspension until formally canceling the license in June 2021. The regulator's investigation into the firm's operations continues, suggesting additional developments may emerge. This article was written by Damian Chmiel at www.financemagnates.com.

FYNXT, a Singapore-based fintech company delivering enterprise-grade, modular solutions for FX/CFD brokers, proudly announces the appointment of Elian Daoud as its Strategic Product Advisor. With over 15 years of leadership experience in the trading and fintech space, Elian has consistently driven operational transformation and technology innovation at scale. Most recently, he served as Chief Operating Officer at GTCFX, where he led the firm’s operational strategy, platform enhancement, and regional expansion efforts. Prior to that, he spent over seven years at AXI, one of the industry's most respected brokerages, where he headed Robotic Process Automation (RPA) and was instrumental in building scalable systems that improved efficiency, compliance, and client onboarding.Elian’s cross-functional expertise—spanning operations, automation, product strategy, and brokerage infrastructure—makes him a powerful asset to FYNXT as the company continues to build next-gen solutions for brokers navigating a fast-moving regulatory and competitive landscape.“I’ve known Aeby and the team for a long time, and I’ve always admired their energy and focus on solving real broker challenges through technology,” said Elian. “As the FX/CFD market evolves rapidly—especially with AI and automation gaining traction—brokers need to move fast. FYNXT is assembling top-tier talent to stay ahead, and I’m excited to be part of that journey.”In his role as Strategic Product Advisor, Elian will work closely with FYNXT’s product and strategy teams to align the platform’s modular solutions with market needs and emerging trends.In an industry that evolves by the quarter, not the decade, FYNXT needs advisors who’ve seen it all. Elian brings depth, clarity, and a hands-on understanding of broker pain points. His joining is timely—as we prepare a wave of product innovation aligned with real-world brokerage challenges.“Elian isn’t just an industry expert—he’s someone who understands brokers inside out. We’ve collaborated over the years and share a common belief: technology should simplify operations, not complicate them. His insights will help us double down on product-market fit and keep our clients ahead of the curve,” said Aeby Samuel, CEO of FYNXT. “Elian’s appointment comes at a pivotal time as FYNXT prepares to roll out a new suite of products and capabilities tailored to broker agility, compliance, and client engagement.“Clients and partners can expect some exciting new launches ahead,” Elian added. “I’m bringing years of frontline experience to help ensure FYNXT’s offerings are not only cutting-edge but also practical and impactful for brokers of all sizes.”About FYNXTFYNXT is a Singapore-based fintech company providing enterprise-grade, modular technology solutions for FX/CFD brokers. From CRM to IB management, PAMM, contest engines, and server administration, FYNXT empowers brokers to scale faster with lower costs and greater control. The company is ISO 27001 certified and trusted by brokers across Asia, Europe, and the Middle East. This article was written by FM Contributors at www.financemagnates.com.

The U.S. Securities and Exchange Commission may soon ease the regulatory burden on decentralized finance platforms as Chairman Paul Atkins outlines a potential "innovation exemption" aimed at protecting developers and enabling new blockchain-based systems to thrive.In the final session of a five-part crypto roundtable series, SEC Chairman Paul Atkins signaled a notable shift in regulatory tone, especially regarding decentralized finance (DeFi).JUST IN: SEC Chair Paul Atkins announces he's in favor of Bitcoin & crypto self custody. ?"The right to have self custody of ones private property is a foundational American value." ?? pic.twitter.com/p9Ne97baxK— Bitcoin Magazine (@BitcoinMagazine) June 9, 2025Code, Not ConductSpeaking to industry experts and developers on Monday, Atkins said he has directed SEC staff to explore exemptions or guidance that would let DeFi platforms operate with fewer barriers. The proposal seeks to support on-chain financial systems and reflect the technological shift toward decentralized models.He emphasized that this principle should not vanish online, especially in a financial ecosystem increasingly powered by decentralized technologies. The comments mark a stark contrast with previous SEC leadership, which leaned heavily on enforcement and broad interpretations of securities laws.Read more: Circle Shares Extend Rally, Gain 15% on Monday to Hit $134 After Strong IPOAt the roundtable titled "DeFi and the American Spirit," Atkins and other Republican commissioners argued that software developers should not be held liable for how decentralized tools are used. He rejected the notion that writing code constitutes a regulated activity if that code enables financial transactions. Commissioner Hester Peirce echoed this view, warning against infringing on First Amendment rights. DeFi and the Regulatory CrossroadsDeFi refers to the class of blockchain-based tools that replicate traditional financial services, such as lending, trading, and insurance, without relying on centralized intermediaries. These platforms have long existed in a gray area of U.S. financial regulation, with developers often facing investigations or uncertainty about their legal status.Atkins called for reevaluating legacy frameworks and asked staff to assess whether new guidance or rulemaking would help entities interact with DeFi tools while remaining compliant.You may also like: UK Hires First Crypto Specialist for Insolvencies as Recovery Cases RiseThis change in direction coincides with a broader shift at the SEC following the departure of former Chair Gary Gensler and the arrival of the Trump-era appointees. Under the new leadership, the SEC has rolled back several enforcement actions and launched a Crypto Task Force focused on industry engagement.The roundtables, held throughout the past few months, covered custody, trading, tokenization, and securities definitions. The latest discussion on DeFi capped the series, reinforcing the agency’s pivot from adversarial enforcement to rulemaking tailored to emerging technologies. This article was written by Jared Kirui at www.financemagnates.com.

Circle’s Wall Street debut has ignited investor frenzy—its stock exploded past $138 just days after going public. The rally follows a mix of strategic moves and heavy interest from major players like ARK Invest and Japan’s SBI Group, highlighting surging global appetite for the stablecoin issuer.Circle (CRCL), the company behind USD Coin (USDC), saw its shares skyrocket from its IPO price of $31 to an intraday high of $138.57 on Monday, though it later pared back gains. On its first trading day, the stock opened at $69 and closed at $83.23, marking a 169% jump from the IPO price. SBI's $50 Million Bet on CircleMuch of the renewed interest stems from a strategic $50 million investment by SBI Holdings and SBI Shinsei Bank. SBI, a long-standing partner of Ripple, is facilitating Circle’s expansion into Japan through SBI VC Trade. The move grants Circle a direct channel into the tightly regulated and lucrative Japanese crypto market. The partnership may help USDC carve out a firmer position in Asia’s stablecoin ecosystem, which has so far been dominated by Tether (USDT).I am incredibly proud and thrilled to share that @circle is now a public company listed on the New York Stock Exchange under $CRCL!12 years ago we set out to build a company that could help remake the global economic system by re-imagining and re-building it from the ground up… pic.twitter.com/okcH0ys6Tc— Jeremy Allaire - jda.eth / jdallaire.sol (@jerallaire) June 5, 2025Adding to the momentum, Cathie Wood’s ARK Invest made headlines by acquiring nearly 4.5 million Circle shares on the first day of trading. The purchase, worth $373 million at closing prices, reflects ARK’s growing interest in companies tied to blockchain infrastructure. The firm already holds major positions in Coinbase, Robinhood, and Block.Read more: Circle Shares Soar 235% on First Day of NYSE TradingInterestingly, ARK funded this aggressive Circle purchase by offloading $39 million in Coinbase shares, $18.5 million in Robinhood, and $10.4 million in Block.The NYSE welcomes @circle in celebration of its IPO! For over a decade, Circle has connected traditional finance and digital assets, seeking to create a secure, always-on digital economy. $CRCL@jerallaire pic.twitter.com/YnHL34puz7— NYSE ? (@NYSE) June 5, 2025Valuation Tied to USDC’s GrowthThe bullish sentiment around Circle appears closely tied to USDC's rising role in global finance. With Circle's market cap now accounting for half of all circulating USDC, investors are clearly betting on the stablecoin’s expansion. With backers like SBI and ARK, the company is now well-positioned to test the limits of stablecoin adoption in both traditional and crypto-native markets. This article was written by Jared Kirui at www.financemagnates.com.