Bitcoin is currently trading at an all-time high, with anticipation of further gains. However, the identity of its creator, Satoshi Nakamoto, remains a mystery. Despite recent claims, including one by the broadcaster HBO and another by a questionable figure, no one knows who Satoshi Nakamoto truly is.The search to reveal Nakamoto's identity has been ongoing for years.Last month, HBO released a documentary claiming that Canadian software engineer Peter Todd, who was involved in the early development of Bitcoin, is Satoshi Nakamoto. However, Todd quickly denied the claims, stating that he was not Nakamoto."I am Satoshi Nakamoto"In an intriguing turn, a man named Stephen Mollah recently held a press conference in London, also claiming to be Satoshi Nakamoto.A dozen journalists attended the event, more out of curiosity to test his claims than to resolve the Nakamoto mystery. According to a BBC report, the event organiser charged journalists £100 for front-row seats and another £50 for unlimited questions to Mollah. The organiser, Charles Anderson, even offered a BBC journalist an opportunity to interview Mollah on stage for £500, but the proposal was declined.“I am here to make a statement that, yes: I am Satoshi Nakamoto, and I created Bitcoin using Blockchain technology,” Mollah declared on stage. However, he failed to provide any convincing evidence.?Another day, another Satoshi Nakamoto claim.Today, Stephen Mollah, claimed to be Satoshi Nakamoto at a press conference in London.Is this the real deal, or just another hoax? ? pic.twitter.com/hGp7AldKOz— Benzinga Crypto (@benzingacrypto) October 31, 2024A Questionable CharacterThe BBC report described the experience as ranging from amusement to irritation over the next hour. Representatives from the prestigious Frontline Club interrupted the event to clarify that they only provided the room and did not endorse any of the claims. The attendees soon became sceptical.Interestingly, both Mollah and Anderson are also embroiled in a legal dispute over fraud allegations connected to claims of being the creator of Bitcoin.Mollah is not the first, nor likely the last, to claim to be Satoshi.In 2014, Newsweek suggested that Dorian Nakamoto, a Japanese-American man, was the mastermind behind Bitcoin. However, he denied it.The most dramatic claim came from Australian computer scientist Craig Wright, who engaged in court battles for years to establish his claim. However, his claims were dismissed by the High Court in London. This article was written by Arnab Shome at www.financemagnates.com.

M4Markets has formed a strategic partnership with Swiset, a developer of AI analytics solutions. This agreement aims to enhance the acquisition and retention of Introducing Brokers (IBs) while improving the experience for Academies and their students.Swiset AI Expands NetworkSam Chaney, the Commercial Director of M4Markets stated: “With Swiset's cutting-edge analytics, our partners will have access to deeper insights that empower them to connect more meaningfully with traders, which is a significant advantage for growth in today's market.”Swiset’s AI platform is already active in over 150 countries and serves a community of over 70,000 registered traders. It offers M4Markets a new tool for engaging a larger, more data-driven IB audience.“Swiset's AI technology will be an important touchpoint in M4Markets' growth plan, coinciding with its goals of providing a simpler trading experience and improving service offerings in competitive global marketplaces,” M4Markets stated on its web release. We're excited to announce our partnership with Swiset to empower IB acquisition and retention through AI-driven analytics! Learn more about the collaboration here: https://t.co/McmcZHdT7C#m4 #m4markets #swiset #tradinginnovation #AIanalytics pic.twitter.com/G9Gjnz1rY6— M4Markets Official (@m4markets_Group) November 7, 2024Earlier, Trinota Markets (Global) Limited, operator of M4Markets, acquired the operations of Tixee, a forex and CFD broker, as reported by Finance Magnates. Tixee is closing its trading platform and offering clients the option to transfer their accounts to M4Markets.Swiset Supports M4Markets' GrowthSwiset monitors over 30 million trades and connects 250,000 accounts. Its ability to turn complex data into actionable insights will help M4Markets' partners make informed decisions, driving engagement and revenue growth. According to the firms, this partnership strengthens M4Markets' value for current partners and creates opportunities to attract new talent from the IB and Academy sectors.“We are thrilled to partner with M4Markets to deliver our AI-powered insights to their network of IBs, Academies and traders,” said Santiago Valencia, CSO of Swiset. “This collaboration allows us to enhance M4Markets' partners program by enabling data-driven strategies that drive performance and retention, benefitting partners and traders alike,” he added. This article was written by Tareq Sikder at www.financemagnates.com.

“China is not an open market, but it is a great market,” Sophie Squillacioti, MultiBank’s Head of China Sales, told Finance Magnates when discussing the intricacies of the Chinese forex and contracts for differences (CFDs) market. She added: “The Chinese market is very developed in this industry.”“Many mistakenly believe that the Chinese market is new, but in reality, it’s very developed. The traders there are very sophisticated, the technology is very sophisticated,” Squillacioti said. She added that “the demand is relatively easy compared to other South Asian markets.”Squillacioti has spent the last two decades in the retail trading industry, with most of her roles remaining China-centric. She was also stationed in China for many years while working for multiple brokerage brands, but now manages MultiBank’s operations in China from Dubai. She confirmed that MultiBank has no physical presence in China at this point.“My role is basically to take MultiBank back into the Chinese market,” she explained when talking about her responsibilities. “They were in China for a long time but exited due to business strategies. Now they’re looking to go back in, and my role is to build up the channel functions.”Deposits in “Several Thousands of Dollars”However, the Chinese market remains lucrative. According to Squillacioti’s experience, the average deposits by Chinese traders are “quite high and can go up to several thousands of dollars,” which is “in line with European deposits.” However, she pointed out that “there are broad spectrums” and it “depends on the brokers too.”Regarding trading volume, Squillacioti noted that “it’s high, very high, which aligns with the Chinese thought process and interest in speculation.” However, these numbers vary from broker to broker, and none of them reveal market-specific volumes.Despite the attractive Chinese trader base, the FX and CFDs industry operates within a grey area in China. The Chinese government does not regulate the CFDs industry, but neither does it ban it.“If That Will Exist in the Future, We Do Not Know”“There’s no local regulation,” Squillacioti said. She added: “If that will exist in the future, we do not know. Until now, the decision has been not to open that market up. So, most brokers operating in that market and onboarding traders do so under foreign licenses, mostly offshore, such as Mauritius and Seychelles, which have been around for quite some time.”MultiBank, which holds more than a dozen regulatory licenses globally, “will be looking to onboard Chinese traders under its Cayman Islands license.”“China Is More Open than Some Other Markets in Asia”Similar to most of Asia, China is also a “very localized” market for retail trading. Squillacioti noted that businesses “certainly do need Chinese speakers for sales and service.” However, she added: “It is more open than some other markets in Asia, and there are some acceptors of the English language.”“Chinese traders will open a platform or website that is translated into the local language, but there is a need for Chinese-speaking customer service operations,” she said.However, marketing can be challenging for foreign brokers entering a localized market, such as China. According to Squillacioti, “There are quite a few online platforms and companies out there where you can place banner ads” to promote brokers. She added that “there’s obviously the traditional introducing broker routes, which is still very popular in these Asian markets. So, the most sought-after route is developing relationships with IB businesses.”It is worth noting that the services of Introducing Brokers, or IBs, remain very popular in developing markets like Asia, Africa, and Latin America. Although IBs need licenses to operate in markets like the UK, there are no concrete regulations for them in the Chinese and other emerging markets.Squillacioti further acknowledged that operating in a market like China without any license or regulation can be “challenging.” Payments, which enable deposits and withdrawals, are also a big challenge in China, but according to her, “PSPs and other third-party companies facilitate payments in and out, and that tends to work well.”“The Chinese market is a very popular market,” she continued, “but similar to any other market, it has its challenges. Brokers must know their clients and business very well. Generally speaking, I would say the number one mistake that companies make is an unwillingness to localize. I think localization is really important in Asia, and that’s not just all about localization at the country level.” This article was written by Arnab Shome at www.financemagnates.com.

The financial industry is at a crossroads where traditional governance and sustainability practices are no longer sufficient. A new framework—G(EES), which stands for Governance of Economic, Environmental, and Social Impacts—is emerging as a comprehensive alternative to the often fragmented ESG (Environmental, Social, Governance) model. This shift calls for a more holistic, governance-centric approach that prioritises ethical decision-making, transparency, and long-term value creation.Why G(EES) Matters for Fintech, Forex, and CFDsThe fintech, forex, and CFDs sectors operate in fast-paced environments with high regulatory scrutiny and evolving investor expectations. G(EES) governance goes beyond compliance to embed sustainability into the core of business strategy. For companies in these industries, adopting this framework is not just about keeping up with global standards—it is about reshaping their operations and building a foundation of trust and credibility.Forex and CFDs firms often face criticism for opaque trading practices, and investor trust is paramount in these sectors. A G(EES)-focused approach will push firms to enhance disclosure practices and ensure ethical operations, resulting in improved market perception. By adopting stronger oversight of trading algorithms, transparent risk management practices, and sustainable product offerings, these companies can position themselves as leaders in responsible finance.More importantly, implementing a robust governance framework aligned with G(EES) will help forex and CFDs firms manage financial and non-financial risks more effectively. As regulatory bodies and investors increasingly favour businesses that demonstrate long-term value and ethical conduct, embracing G(EES) could become a competitive advantage.Fintech: Moving from Disruption to Responsible InnovationThe fintech industry, known for its rapid innovation and disruption, must now pivot to embrace responsibility and sustainability at its core. G(EES) provides a structured way for fintech firms to balance technological advancement with social impact. Startups and established firms alike should consider how their products affect financial inclusion, data privacy, and cybersecurity.For instance, fintech companies can lead by creating solutions that bridge the financial inclusion gap while maintaining high data security and customer protection standards. This enhances the sector's reputation and aligns fintech's rapid growth trajectory with broader societal goals.Building a Culture of Accountability and Long-Term VisionOne of the most profound changes that G(EES) governance demands is a shift in leadership mindset. It is not just about reporting on sustainability metrics—it is about embedding governance into every layer of decision-making. For fintech, forex, and CFDs firms, this means creating internal structures that prioritise ethics and compliance without stifling innovation.This shift will likely involve appointing dedicated governance officers, establishing sustainability committees, and integrating sustainability into compensation frameworks. While this transformation may seem daunting, the long-term reputational and financial benefits outweigh the costs.The Road Ahead: Transform or Be Left BehindBeing involved in the forex and CFDs industry, I see firsthand the growing demand from regulators, investors, and clients for companies to adopt a more integrated and transparent governance approach. G(EES) is not just a trend; it is the new standard that will define responsible and sustainable business practices for years to come.Companies embracing this model will be better equipped to navigate regulatory changes, build stronger stakeholder relationships, and create long-term value beyond profits. Those who resist will not only risk falling behind but may also find themselves unable to meet the rapidly evolving market expectations.For the fintech, forex, and CFDs sectors, adopting G(EES) is an opportunity to redefine responsible business. By integrating economic, environmental, and social impacts into a comprehensive governance framework, companies can move beyond traditional ESG limitations and take the lead in driving positive change. This is not just about compliance—it is about transformation.Ultimately, businesses that align with G(EES) will survive and thrive in an increasingly complex and interconnected world. This article was written by Jean Philippe Mota at www.financemagnates.com.

Bybit, the world's second-largest crypto exchange by trading volume, is pleased to announce that Shunyet Jan, its current Head of Derivatives, will take on an expanded role as Head of Institutional. This move underscores Bybit’s commitment to serving institutional clients and enhancing its innovative derivatives offerings.Expanding Responsibilities for a Dynamic IndustryShunyet Jan joined Bybit with a wealth of experience in both traditional finance and high-frequency trading, bringing a fresh perspective to the crypto space. “Bybit has been an exciting place to work, with a strong focus on innovation and rapid execution,” Shunyet noted. “The culture here is remarkably collaborative, and it’s clear that agility and teamwork are at the heart of everything we do.” His positive first impressions of Bybit’s team and culture, shaped by his background across diverse financial environments, have only reinforced his enthusiasm for advancing Bybit’s role in the market.In his expanded role, Shunyet will leverage his insights from a distinguished career, which includes roles in program trading, ETFs, and index arbitrage on Wall Street, as well as algorithmic and high-frequency trading in Asia. His leadership will guide Bybit in crafting solutions that cater specifically to institutional needs, bridging traditional finance principles with the flexibility of digital assets.Championing Bybit’s Vision for Institutional GrowthWith deep experience in serving sovereign wealth funds, pension funds, hedge funds, and market makers, Shunyet understands the unique needs of institutional investors. “Institutional sales and derivatives share a common goal: providing seamless access to liquidity and effective support,” Shunyet explained. His dual background as both an institutional client advisor and a top global market maker allows him to anticipate and address the nuanced demands of these clients, helping Bybit solidify its reputation as a trusted partner for sophisticated trading solutions.In his new role, Shunyet’s focus is clear: “I’m focused on positioning Bybit as the top choice for institutional clients by enhancing our custody solutions, expanding loan products, and strengthening liquidity across the platform.” He envisions building a robust environment that not only attracts institutional clients but also elevates their experience through refined trading conditions and innovative tools. By refining custody options and liquidity enhancements, Bybit aims to further solidify its foundation in a rapidly growing sector.A Vision for Bybit’s Derivatives and Institutional FutureShunyet’s career trajectory highlights a commitment to adapting the best practices from traditional finance to the crypto industry. He sees significant potential in options trading for the crypto sector, especially in the APAC region, where demand is rapidly increasing. “While options are standard in traditional markets, they remain underutilized in crypto. My goal is to build a world-class options trading platform that offers the same level of sophistication and reliability that institutional investors expect.”“Bybit has a vision of creating a secure, innovative environment for traders, and I’m eager to contribute to the growth of our platform, enhancing institutional offerings while expanding sophisticated retail solutions,” Shunyet added.Helen Liu, Chief Operating Officer of Bybit, commented, “Shunyet’s dual expertise in traditional finance and crypto markets equips him to elevate our platform for institutional clients. His insights and leadership will be instrumental as we broaden our reach in institutional services and enrich our derivatives offerings.”About BybitBybit (https://www.bybit.com) is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team. This article was written by FM Contributors at www.financemagnates.com.

ATFX Connect is excited to announce its partnership with Your Bourse, a leading provider of Platform-as-a-Service solutions for FX and CFD liquidity management. This collaboration aims to enhance liquidity options for brokers by combining ATFX's extensive service portfolio with Your Bourse's capabilities. Together, we are committed to improving operational efficiency and supporting sustainable growth for a diverse range of clients by delivering effective solutions to optimize trading operations.A Match to Be MadeThis collaboration allows us to enhance our service offerings by integrating Your Bourse’s innovative technology with our custom liquidity solutions. By combining our strengths, we can provide brokers with a seamless trading experience that includes the below: · Enhanced Trading Technology with a Seamless ExperienceThe partnership integrates Your Bourse's ultra-fast trade execution capabilities with ATFX's Prime of Prime services, creating a powerful infrastructure for brokers. This collaboration minimizes latency, enabling quick and efficient trade execution. Brokers can seamlessly integrate their platforms for real-time execution, reducing operational friction and allowing them to focus on strategic growth while optimizing their trading strategies to boost profitability.· Tailored Liquidity SolutionsBy leveraging Your Bourse’s advanced platform features alongside ATFX’s global market access, brokers can fully customize their trading environments to meet the diverse needs of their clients. This flexibility allows brokers to adjust liquidity settings, spreads, and execution parameters, delivering personalized trading experiences that enhance client satisfaction and loyalty.· Comprehensive Risk Management with Diverse Liquidity OptionsTogether, Your Bourse and ATFX offer a suite of risk management tools that help brokers navigate market fluctuations effectively. Access to a broad spectrum of Tier 1 liquidity from both bank and non-bank sources further enhances trading options, improving pricing and execution quality. With these resources, brokers can set risk thresholds, monitor exposure in real-time, and implement strategies to mitigate potential losses, ensuring reliability in their trading operations.Innovative Solutions for a Better Trading ExperienceThe collaboration between Your Bourse and ATFX Connect introduces a suite of innovative solutions designed to empower brokers in today’s dynamic market. By integrating cutting-edge technologies and tailored services, this partnership equips brokers with powerful tools for improved trade execution and risk management. Brokers can leverage Your Bourse’s advanced Liquidity Aggregation capabilities alongside ATFX’s diverse liquidity pools, allowing for optimal pricing and faster order execution. Additionally, features like customizable MT4/MT5 Bridge integrations streamline trading operations, while real-time analytics and alerts help brokers monitor their positions effectively. This comprehensive approach not only enhances operational efficiency but also supports brokers in delivering exceptional trading experiences that meet the evolving needs of their clients.Premium Liquidity Program by Your Bourse with ATFX Connect At ATFX, we are proud to support brokers in their participation in the Premium Liquidity Program offered by Your Bourse. By selecting ATFX as their liquidity provider, brokers can access a suite of enhanced services, including custom price and volume multipliers, advanced order routing, and real-time reporting capabilities. These tools enable brokers to manage their operations efficiently and profitably. Additionally, brokers can utilize Your Bourse's services at no cost when they sign up with ATFX, making this a valuable opportunity to leverage high-quality solutions without any extra expense. This collaboration is designed to help brokers optimize their trading strategies and improve their service delivery to clients.ConclusionIn summary, the partnership between ATFX Connect and Your Bourse significantly enhances liquidity services for brokers. By leveraging our combined strengths, we offer innovative solutions that improve trading operations and risk management. This collaboration equips brokers with the essential tools for success in a competitive market, driving growth for all. This article was written by FM Contributors at www.financemagnates.com.

When it comes to profitability, the three London-listed retail brokers generally perform well (with only a few exceptions). While IG Group (LON: IGG) and Plus500 (LON: PLUS) regularly lead in pre-tax profitability with three-digit gains, CMC Markets (LON: CMCX) often has lower figures.IG Remains the Most Profitable CFDs BrokerIG, with a market cap of £3.2 billion, is the largest of the three forex and contracts for difference (CFD) brokers. It achieved a pre-tax profit of £224.4 million on revenue of £514.7 million in the six months between December 2023 and May 2024, resulting in a profit-to-revenue ratio of 43.6 percent.During IG’s best-performing fiscal six months in the last five years, the first half of FY 2022, the broker achieved a pre-tax profit of £245.2 million, resulting in a profit-to-revenue ratio of over 51.6 percent. Although this ratio dropped to 37.3 percent in the first half of the previous fiscal year, it has since recovered over six consecutive months.It's Hard to Beat Plus500's EfficiencyPlus500 leads the trio in terms of profit-to-revenue ratio. In its most profitable six months, the first half of 2020, the Israeli broker earned $363 million (about £280 million) in pre-tax profits, achieving a profit-to-revenue ratio of more than 64 percent, the highest among the three brokers to date.However, Plus500’s efficiency dropped to 46.1 percent in the first half of the current year. The broker also generated $187.3 million in revenue in Q3 2024, though its profits for the quarter remain undisclosed. Public filings show its EBITDA margin for the quarter was 44 percent.In absolute terms, Plus500’s profits are much lower than IG’s. While the Israeli broker generated only $183.7 million (around £141 million) in pre-tax profits in its latest fiscal six months, IG brought in £224.4 million. Interestingly, Plus500 also spent the most on marketing compared to its other two competitors.CMC Markets’ figures remain low compared to its two larger competitors. In the most recent fiscal six months, from October 2023 to March 2024, the broker generated £65.3 million in pre-tax profits, recovering from a £2 million loss in the previous six months.CMC’s latest revenue-to-profit ratio was 31 percent, which is substantially lower than its other two London-listed competitors. CMC’s best six-month period was from April to September 2020, when its revenue peaked at £230.9 million, driven by the effects of the COVID-19 pandemic. The broker achieved a pre-tax profit of £141.1 million, and a revenue-to-profit ratio of over 61.1 percent, though performance efficiency has since declined.A key factor behind IG’s recent dominance over Plus500 and CMC has been interest income. In the second half of its last fiscal year, IG’s interest income peaked at £72.2 million. While Plus500 generated $29.1 million (around £22.3 million) over six months, CMC only brought in £18.9 million.Finance Magnates also analyzed the different geographical markets where these three brokers operate and found that the retail traders in Singapore are the most lucrative, as proved by IG. However, CMC is moving its focus away from its UK home turf and is expanding in Asia Pacific. This article was written by Arnab Shome at www.financemagnates.com.

Explore how Trump's election rally boosted markets, enriched billionaires, and sent crypto soaring, revealing his larger-than-life impact on the economy.Wall Street must have cracked open the champagne early. With Trump gearing up for his latest turn in the White House, investors seem to have found a newfound zest, breathing life into a market rally that even the most optimistic brokers probably didn’t pencil in. The Dow closed 1,500 points higher on Wednesday following Trump’s win. It’s as if the mere thought of Trump in the White House again has money people digging out their "Make Wall Street Great Again" hats.US stocks rallied sharply to close at record highs on Wednesday after Republican Donald Trump won the 2024 US presidential election in a stunning comeback https://t.co/mPyGAgzYTm pic.twitter.com/kdKJOwnmND— Reuters (@Reuters) November 7, 2024Goldman Sachs isn’t just cheering from the sidelines; it’s calling it. According to a report, as U.S. Treasury yields climbed, so did investor sentiment, triggering a market rally that defied traditional expectations. Maybe it’s the promise of deregulation, the scent of tax cuts in the air, or just the wild ride Trump promises that has traders all in a tizzy. Either way, Trump’s effect on markets is a rollercoaster that Wall Street’s thrill-seekers wouldn’t miss for the world.However, analyst David Kostin warned that a substantial rise in 10-year Treasury yields could put a damper on any prolonged stock market rally. “A further sharp increase in 10-year Treasury yields would likely limit the magnitude of any potential rally in stock prices,” Kostin noted.Richer Than Ever: The Billionaire BonanzaElon Musk and Jeff Bezos can thank Trump for some extra zeroes in their net worths. As his election prospects drew clearer, their collective wallets seemed to magically thicken. It’s like they could smell opportunity in the wind. According to data, billionaires saw their fortunes balloon as stocks rallied. It wasn’t just about faith in the economy—it was about faith in a Trump economy, with all its promises of pro-business policies, less oversight, and a government that looks out for its wealthiest sons.It’s not just Musk and Bezos, though. The top tier of American billionaires collectively relished a market surge that brought gains reminiscent of the pandemic-era boom. The rationale behind this surge? Simple. A potential Trump administration could mean slashed corporate tax rates and policies designed to keep the wheels greased for big business operations. Tesla stock surged by almost 15% in the aftermath of the election and Musk’s value has risen by $61 billion this year, with Bezos lagging behind with a paltry $51 billion rise. And, of course, we know all about Musk’s connections to Trump.Government Efficiency ? https://t.co/zMtNsVU4Tm— Elon Musk (@elonmusk) November 8, 2024Critics might wag their fingers and shout about wealth gaps and fairness, but in the billionaire playground, Trump’s potential return was akin to a late birthday gift. The stock rally that followed was proof that when Trump talks, the wealthy listen—and laugh all the way to the bank.Crypto’s Wild Ride: Bitcoin, Ether, and the Trump BumpNot to be left out of the party, the crypto market hitched a ride on Trump’s hype train. Bitcoin, Ether, and even meme coins like Dogecoin saw substantial bumps. Solana, an altcoin darling, didn’t sit this one out either; it joined the rally, buoyed by the broader sense of financial “let’s go big or go home.” A lot of people got even richer.??AMERICA ELECTS ITS FIRST EVER CRYPTO PRESIDENTTrump has been elected as the first U.S. president openly supportive of Bitcoin and cryptocurrencies.Throughout his campaign, Trump pledged to bolster the crypto industry, including plans to establish a national Bitcoin reserve… pic.twitter.com/KIDJudWjx3— Mario Nawfal (@MarioNawfal) November 6, 2024The catalyst? It’s not just Trump’s economic brand but the uncertainty his political presence stirs. In times when conventional markets tip-toe on eggshells, crypto traders start to salivate. This time was no different—analysts noted how Trump’s impact on markets bled into the digital coin sphere, with volatility becoming a sweet siren call for the risk-tolerant.There’s a psychological element to this as well. Trump, ever the showman, evokes strong responses, which are gold for the famously capricious crypto market. Traders thrive on these ebbs and flows of sentiment. If stocks are the main course, then crypto is the spicy dessert that many just can’t resist, especially when the headlines scream Trump’s return.The Future: Booms, Busts, and More Tweets?So, what does this mean for the economic landscape ahead? If Trump’s past presidency taught us anything, it’s that market predictability takes a back seat. Investors are already gearing up for a mix of boom and bust cycles, peppered with tweet-driven disruptions and policy surprises. For now, Wall Street is more than happy to strap in, while crypto traders clutch their charts like fortune-telling scrolls.But let’s be real: A Trump presidency 2.0 will likely mean a rollercoaster of deregulation, tax policies written with a billionaire’s pen, and enough drama to keep financial pundits busy. Economists warn that although market rallies and billionaire bonanzas are headline-friendly, they’re often the prelude to tougher economic reckonings. The wealth gap could deepen, critics argue, and market volatility could reach nerve-wracking heights.Trump’s effect on markets may well be one of chaos theory’s most delightful case studies. As long as he’s around, the markets will react with equal parts fear, enthusiasm, and the occasional head-scratch.For more news around the edge of finance, follow our Trending section. This article was written by Louis Parks at www.financemagnates.com.

Changpeng Zhao, popularly known as CZ, who was released from custody in the US in late September after serving his four-month prison sentence, is now receiving offers to sell his controlling stake in the crypto exchange Binance, he told Bloomberg in a recent interview.However, Zhao did not reveal the names or identities of the parties interested in buying Binance shares.Possibility of New Binance Owners?“I’m not saying that I’m going to hold onto the equity forever or not,” he said in the first interview after his release from US prison. “I’m happy to review every offer, but so far I haven’t done anything. But, you know, I’m just a regular shareholder at this point.”Zhao’s net worth is estimated to be about $61 billion, and he holds a 90 percent stake in Binance, the cryptocurrency exchange behemoth he founded in 2017. He is the richest crypto billionaire and also the richest inmate in history to serve time in a US prison.Pushups, I can do 300 in about 30 min. Roughly 40, 30, 20, 15, 15, 15, … to 300.Or I can do 60-70 (fast) on the first set, but then drop off aggressively and struggle to get to 300. I do it only on a weekly basis. My muscles don’t recover fast enough.Positive takeaways… https://t.co/LHwtmabCqn— CZ ? BNB (@cz_binance) October 31, 2024A FelonThe Canadian, now a resident and citizen of the UAE, headed Binance until last year, when he stepped down from the top executive role as part of his plea deal with US prosecutors. He also pleaded guilty to failing to implement adequate money laundering checks, which allowed bad actors to trade cryptocurrencies on the platform.Binance was also required to pay $4.3 billion to settle with US prosecutors and a separate $2.85 billion to settle with the US commodities regulator. The exchange also agreed to end its presence in the United States.CZ’s cooperation with US prosecutors resulted in a lenient sentence compared to the 25-year jail term of Sam Bankman-Fried, who is now serving time for his shady business practices involving the now-bankrupt FTX and Alameda Research. Interestingly, Zhao initially showed interest in buying out troubled FTX but later backed out, leading to a bank run on the now-collapsed platform and exposing its $8 billion shortfall.When comparing his time in prison with Bankman-Fried’s, Zhao said: “That’s like comparing somebody who’s stealing money versus somebody who failed to register a company.” This article was written by Arnab Shome at www.financemagnates.com.

The California Department of Financial Protection and Innovation (DFPI) has now permanently revoked the license of bankrupt crypto lender BlockFi, two years after initially suspending it.An Array of ViolationsAnnounced yesterday (Friday), the state regulator disclosed that BlockFi has agreed to settle by accepting the license revocation. The bankrupt company further agreed to cease any practices that violated regulations or posed risks to consumers.According to the DFPI’s latest report, BlockFi breached license conditions by failing to evaluate borrowers’ repayment ability and by charging interest before loan proceeds were disbursed. Additionally, the platform did not provide credit counselling to consumers, failed to report payment histories to credit bureaus, and inaccurately disclosed annual percentage rates (APRs) in loan documents.“While we encourage innovation in our financial marketplace, companies must comply with laws and protect consumers to continue operating in California,” said DFPI Commissioner Clothilde V. Hewlett.Creditors Await SettlementsBlockFi’s troubles began after the collapse of Sam Bankman-Fried’s FTX, which led the crypto lender to file for bankruptcy in November 2022. BlockFi, which offered crypto lending services to retail clients, had significant exposure to the collapsed exchange, totalling up to $1.2 billion.Earlier this year, BlockFi reached a settlement with FTX, securing up to $874 million in potential repayments. This allowed BlockFi to sell its FTX claims and prepare for a final distribution to creditors. According to BlockFi’s bankruptcy estate, the goal is to return “100 percent” of distressed clients’ claims, though these will be valued based on the date of bankruptcy, not the current crypto market rates.While the collapse of FTX revealed vulnerabilities in BlockFi’s model, the California regulator had already been investigating similar platforms. The DFPI previously disclosed its scrutiny of crypto companies offering interest-bearing accounts, though it did not specifically name BlockFi at the time. This article was written by Arnab Shome at www.financemagnates.com.

APM Capital Markets, formerly known as BUX Financial Services, released a strategic report accompanied by a financial report for the fiscal year ended 2023. The company reported declining revenue and profit, citing restricting plans amid the decision to sell the company and other EU-based CFD businesses.Revenue declined to £843,938 from 1,523,424 during the same period of 2022, and losses widened to £2,993,957 from £2,259,242 in the same period last year. According to the firm, there was a limited focus on growing the business during this period and a shift to maintaining core operations and regulatory requirements. This also affected the client base.Cost-Cutting Measures“There has been planned attrition of the UK client base during the year and subsequently to the year-end, as the cost-cutting measures involved migrating all customers off the existing trading platform to reach a pause on trading activities before the sale of the company,” the company noted.APM Capital entered into an acquisition agreement with Asseta Holding Limited, a company incorporated in Abu Dhabi, United Arab Emirates. The company reportedly plans to launch a new trading platform and grow its customer base in the UK, under APM Markets brand, supported by Asseta Holding Limited. Cost of sales increased from £2,239,965 to £3,085,522 during the period, while operating losses also jumped from £2,363,137 to £2,994,215. APM Capital’s financial position remains positive, although net assets declined from £3,227,704 to £1,433,747. Total equity also dropped from £3,227,704 to £1,433,747. Name ChangeExplaining further about the transaction, the company mentioned that: “A share sale and purchase agreement was signed on May 17 2024, followed by change in control approved from the FCA and completion of the acquisition of the company in July 2024. Following the acquisition, the company’s name changed to APM Capital Markets Limited.”“The directors consider that the entity is a going concern on the basis that it has received a letter of support and injection of cash post year-end from Asseta Holding Limited, the acquiring parent entity, and they are satisfied through their enquiries as to the intention and ability of the parent to provide support.” This article was written by Jared Kirui at www.financemagnates.com.

Caroline Ellison, the former CEO of Alameda Research and a key figure in the FTX fraud case, reported to a low-security federal prison in Connecticut to begin serving her two-year sentence. Ellison's cooperation with prosecutors led to the conviction of FTX founder Sam Bankman-Fried, but she now faces the consequences of her own involvement in the scheme that resulted in the collapse of the once-thriving cryptocurrency exchange.Cooperation with ProsecutorsThe 30-year-old Alameda Research's former CEO, who helped orchestrate the massive fraud that unraveled the $32 billion cryptocurrency exchange, reported to a federal prison in Connecticut on November 7, CNBC reported.Her sentence followed a 2022 plea deal in which she admitted to conspiracy and financial fraud charges. Ellison's cooperation with prosecutors played a crucial role in the conviction of FTX's founder, Sam Bankman-Fried. She agreed to testify against him, which was instrumental in securing his 25-year prison sentence for similar charges.Caroline Ellison sentenced to two years for role in FTX crypto fraud https://t.co/HMuntIYwon— BBC News (World) (@BBCWorld) September 24, 2024Ellison was intimately connected with both FTX and Alameda Research, a hedge fund affiliated with the cryptocurrency exchange. She was also in a relationship with Bankman-Fried while overseeing Alameda, a firm that received a significant portion of the funds misappropriated by Bankman-Fried from FTX clients.Despite the extensive fraud, Ellison expressed remorse during her sentencing, breaking down as she apologized for her actions and admitted her failure to stand up to the corrupt practices of FTX and its founder.Caroline Ellison's ApologyJudge Kaplan, who oversaw Ellison's case, reported that while her extensive cooperation with prosecutors was commendable, it could not excuse the scale of the crime she was involved in. The case, which continues to reverberate across the cryptocurrency industry, has led to multiple legal repercussions for former FTX employees.Ellison's sentencing also followed a pattern of accountability among former FTX executives. Earlier, Nishad Singh, another ex-FTX executive, was sentenced to time served and three years of supervised release. This article was written by Jared Kirui at www.financemagnates.com.

Polish financial regulators issued a public alert regarding the activities of Foris DAX MT, a Malta-based company operating under the Crypto.com brand. The regulator cautioned investors about possible unauthorized financial services offered by the firm. The warning highlighted that the Polish Financial Supervision Authority (KNF) is monitoring DAX MT's financial operations within the country. Crypto.com has reportedly been added to a list of flagged companies under KNF’s oversight, Cointelegraph reported. Regulatory ConcernsThe KNF reportedly directed its concerns toward Foris DAX MT, saying that the company may lack the necessary licenses to provide financial services in Poland. According to a representative from KNF, Polish law mandates licenses for entities offering brokerage or investment services. The case has now been referred to the Warsaw Regional Prosecutor’s Office for further evaluation.Early this year, the KNF announced plans to start supervising digital assets by the end of this year following several years of not officially recognizing cryptocurrencies. According to a report by Finance Magnates, the Polish government disclosed plans to present in the second quarter. The new framework reportedly allows the regulator to issue financial penalties to crypto firms. This encompasses setting clear legislation for the industry.Poland Steps Up Crypto RegulationThe company's official statement stated, “The introduction of new regulations is dictated by the need to prepare a legal framework for the proper functioning of crypto asset markets, thereby ensuring effective supervision and investor protection by equipping the Financial Supervision Authority with the appropriate means.” Meanwhile, crypto.com sued the SEC for allegedly overstepping its mandate. The crypto exchange mentioned that the US regulator extended its mandate outside its statutory limits by interpreting digital assets as securities. The case followed a Wells notice issued by the regulator against the exchange. Crypto.com maintains that the SEC had imposed an unlawful rule categorizing most crypto transactions as securities while excluding transactions involving Bitcoin and Ether in the classification.Besides that, Crypto.com Derivatives North America petitioned the Commodity Futures Trading Commission and the SEC for clarification on the regulation of specific cryptocurrency derivative products. The exchange said that the regulator’s distinction ignores the similarities in these assets. This article was written by Jared Kirui at www.financemagnates.com.

Unregulated trading venues will never disappear as long as there are traders willing to swap consumer protections for high leverage and lower fees. The challenge for regulated platforms with significant compliance costs is to convince these traders that the risks outweigh the perceived advantages.In September, the Foreign Exchange Professionals Association (FXPA) published a white paper on trading venues operating in OTC FX derivatives markets. It cautioned that the benefits of trading on unregulated FX derivatives venues may come at the expense of reduced customer protections.Many traders opt for unregulated platforms due to perceived advantages around cost, legacy connectivity, or flexibility. However, the risks associated with unregulated trading venues are far from theoretical.Traders Ignore Regulatory WarningsWarnings from regulators and industry bodies are often dismissed on the basis that they refer to events that might happen rather than actual incidents. However, the likes of YoutradeFX and IronFX serve as a warning to traders who think it couldn’t happen to them.“There have been numerous cases where traders suffered significant losses,” observed Patrick Bartle, managing director LMAX Exchange. “These venues often lack proper oversight and safeguards, leading to situations where traders may find themselves without recourse when issues arise.”Regulations are not just red tape—they are there to protect customers from fraud, shady practices, and overly risky trades that could seriously impact their funds, said Gerard Melia, head of FX sales at StoneX.“In addition, regulations help keep the market steady, block financial crime, and make sure everyone has fair options,” he continued. “Unregulated platforms don’t have any of this oversight, so if something goes wrong, the customer is left without a safety net.”In light of the above, Melia reckons choosing an unregulated FX derivatives trading platform is a bizarre move when regulated platforms already offer a wide selection of spreads, leverage options, and diverse products across multiple regulated jurisdictions.But Alexander Kuptsikevich, chief market analyst at FXPro acknowledges that regulation tends to come with severe restrictions on leverage and initial capital. In addition, regulators often prohibit the provision of exotic instruments to retail clients, limiting the offering of regulated brokers to a narrow range of the most popular instruments.The FXPA paper also warned that unregulated FX derivatives trading platforms introduce the possibility of regulatory arbitrage for FX markets.“Brokers are looking to increase the number of licenses, often going to relatively easy jurisdictions to compete with other brokers in emerging markets,” he added. “In developed markets, strict compliance and regulatory rules prevent brokers from providing what active clients in much of the world—particularly in Asia—need.”Kate Leaman, Chief Market Analyst at AvaTrade refers to an increase in the number of unregulated FX derivatives platforms popping up to take advantage of gaps in regulatory frameworks, particularly in jurisdictions with lax enforcement or where there is limited cross-border oversight.The rise of cryptocurrencies and decentralized finance has made it easier for these platforms to operate under the radar. They sometimes even offer anonymous trading, which appeals to a certain type of customer but also magnifies the risks involved.“We have seen new entrants providing FX derivatives where their regulatory status is unclear,” said Nicolas Jegou, CEO of Euronext FX. “Most operate as a technology partner in their offering.”PlusToken Scam Pointed to the Massive RiskLeaman points to the risk posed by hybrid crypto-FX platforms such as PlusToken, whose organizers withdrew in excess of $3 billion in Bitcoin and other cryptocurrencies in June 2019 and informed investors that they had ‘run.’ “With crypto's growth, some unregulated FX platforms now mix crypto and FX products,” she said. “The PlusToken Ponzi scheme caught out many unsuspecting investors who thought they were trading legitimate crypto-FX products.”Cryptocurrency has become a major focus for criminal activities, whereas the regulatory framework for FX in most developed economies has significantly fewer gaps. That is the view of Filip Kaczmarzyk, head of trading at XTB, who agrees that the cryptocurrency market remains relatively new and unregulated, which has led to a rise in fraud. Internal analysis conducted by one FXPA member concluded that operating a single regulated FX derivatives trading venue costs between $1.3 million to $1.5 million per year. That figure would obviously be higher for an entity operating more than one regulated platform.“Running a regulated FX derivatives trading venue comes with significant costs, from initial capital and advanced technology to operational overheads, skilled personnel, and physical infrastructure,” said Melia. “The most effective approach is to treat a regulated venue as a high-value asset, justifying these investments for the benefits of stability and market trust.”Rising Costs Forcing Brokers to Surrender LicensesMelia acknowledges that the industry has witnessed an unusual trend of some trading venues surrendering their regulatory status over the last 18 months or so, largely due to the rising expenses associated with maintaining these standards.Leaman agrees that the financial commitment is not insubstantial, adding factors such as registration fees, legal consultations, capital adequacy requirements, and maintaining ongoing oversight relationships with the relevant regulators to the list of expenses.“Then you need to ensure that your platform meets the high standards of transparency, reporting, and client fund segregation that regulatory bodies demand,” she said. “This can amount to millions of dollars depending on the jurisdiction and the size of the operation.”Entering a saturated market comes with significant costs, primarily due to the need for investments in technology and human capital, said Kaczmarzyk.“Additionally, the products offered are often homogeneous—making it challenging for companies to differentiate themselves from other venues,” he added. “As a result, these companies tend to invest heavily in marketing.” Furthermore, operating within a market-maker model requires substantial capital to maintain open positions and earn a profit, he explained.Finance Magnates contacted a number of unregulated FX derivatives trading venues in relation to this article but none were willing to discuss the issues raised. This article was written by Paul Golden at www.financemagnates.com.

Cronos Labs, the blockchain startup accelerator focused on growing the Cronos blockchain ecosystem, today announced an expansion of its strategic partnership with Google Cloud.With this collaboration, Google Cloud will serve as the primary cloud provider for Cronos and its ecosystem. The alliance with Google Cloud will also focus on four complementary pillars:Onboarding of Google Cloud as a Cronos validator;Technical innovation with Google Cloud to enhance Cronos's performance;Increasing developer adoption of Cronos and Google Cloud at the intersection of AI and blockchain;Value creation package for startups of the Cronos Accelerator program.Ken Timsit, Managing Director at Cronos Labs, said: "The partnership with Google Cloud brings tangible value to end-users and developers in several ways. First, it enhances the security and reliability of the whole network. Second, it makes the Cronos Accelerator program even more appealing to startups. Finally, it opens the door to the creation of a new generation of innovative decentralized applications using Google Cloud's data processing, computing and AI capabilities."Rishi Ramchandani, Head of Web3 APAC, Google Cloud, announced, "Google Cloud is strengthening its commitment to Web3 by joining the Cronos ecosystem as a validator node operator. Google Cloud will also collaborate with Cronos to provide developers with the resources they need to build the next generation of decentralized applications, leveraging Google Cloud's secure infrastructure, advanced AI capabilities, and powerful data analytics tools."Onboarding of Google Cloud as a validatorGoogle Cloud is joining a pool of 32 validators on the open-source Cronos EVM protocol, contributing to the stability and security of the network. Nodes are crucial to the decentralized validation of transactions by producing or confirming new blocks every few seconds. The addition of Google Cloud aligns with Cronos’ strategy of partnering with open-source contributors and validators known for their robust technical expertise. Contributors to the Cronos ecosystem include Crypto.com, Blockdaemon, Ubisoft, Exaion and other top-tier validators.Technical innovation with Google Cloud to enhance Cronos's performanceCronos Labs has used Google Cloud to create the infrastructure underpinning Cronos zkEVM, the Layer-2 blockchain network powered by ZK Chain technology. Leveraging the strengths of the existing Cronos EVM and Cronos POS networks, Cronos zkEVM expands the Cronos universe into Ethereum’s vibrant Layer 2 galaxy.With Google Cloud's cutting-edge infrastructure and deep ZK expertise, Cronos zkEVM aims to achieve new levels of performance and accessibility, empowering users and developers in the Web3 space. The high-performance Cronos zkEVM infrastructure leverages: Google Kubernetes Engine (GKE) Autopilot and Gateway, to easily scale and manage the network infrastructure; AlloyDB, a fully managed PostgreSQL-compatible database with better performance and support for zkSync (zkEVM) technology; and Google Compute Engine to generate zero-knowledge proofs using NVIDIA L4 GPUs.These advanced technologies, combined with Google Cloud's expertise in AI and data analytics, position Cronos for accelerated growth and innovation within the Web3 landscape.Increasing developer adoption of Cronos and Google Cloud at the intersection of AI and blockchainCronos’ collaboration with Google Cloud will emphasize innovation opportunities at the intersection of blockchain and AI to drive developer adoption. For example, Cronos launched its full blockchain datasets on Google Cloud’s platform for both the Cronos EVM chain and the Cronos zkEVM chain. Google Cloud's Blockchain Analytics capability offers indexed blockchain data made available through BigQuery for easy analysis with SQL.These datasets open the door to innovative use cases such as enabling end-users to query the blockchain in natural language, allowing AI agents to use the blockchain for transactions with other AI agents, and allowing both end-users and enterprises to surface trading opportunities by identifying trends and patterns in public blockchain data.To foster innovation within the Cronos developer community, the two companies will also co-host virtual hackathons designed to offer developers a unique opportunity to gain hands-on experience with cutting-edge AI and blockchain technologies and connect with industry experts. Value creation package for startups of the Cronos Accelerator programCronos Labs will continue its collaboration with the Google for Startups Cloud Program to enhance its Accelerator Program, providing startups with resources to develop innovative AI-enabled Web3 applications within the Cronos ecosystem.As part of Google Cloud’s program, Cronos Accelerator startups have access to a dedicated package of Google Cloud, learning resources including training and mentorship on how to build and scale applications with AI, and additional benefits across Google products and its Web3 partner ecosystem. About CronosCronos (cronos.org) is a leading blockchain ecosystem that has partnered with Crypto.com and more than 500 application developers and contributors representing an addressable user base of more than a hundred million people around the world. Cronos' mission is to make it easy and safe for the next billion crypto users to adopt self-custody in Web3, with a focus on Decentralized Finance and Gaming.The Cronos universe encompasses 3 chains: Cronos zkEVM, a new high-performance layer 2 network secured by Ethereum; Cronos EVM, the leading Ethereum-compatible blockchain built on the Cosmos SDK; and Cronos POS, a leading Cosmos chain for payments and NFTs.Cronos ranks among the top 15 blockchain ecosystems, encompassing more than 6 billion dollars of user assets. Since its inception, it has securely settled more than 150 million transactions.On Cronos, users pay transaction fees in $CRO, a blue-chip cryptocurrency.Cronos is supported by Cronos Labs, a 100 M$ Web3 start-up accelerator focused on DeFi, GameFi, and the development of the Cronos ecosystem. This article was written by FM Contributors at www.financemagnates.com.

Marex Group posted a strong performance in the third quarter, with a 66% year-over-year increase in pre-tax profits, a surge in revenue and trading income. In the three months ending September, the group reported a 32% jump in revenue, reaching $391.2 million. This figure compares to $296.6 million in the same period last year.Profit and RevenueAccording to the financial reports, Marex's positive results were boosted by high customer activity, particularly in energy and securities. Net trading income rose 39%, reportedly due to high demand for hedging and investment solutions. Commenting about the performance, Ian Lowitt, Marex’s Group Chief Executive Officer, said: “In the last few months, we have invested to further diversify our global platform, expanding our capabilities and geographic footprint, in line with our strategy to add new clients and increase the services we can provide them.”“We have continued to grow our capital base and diversify our funding sources with a successful senior debt issuance, and we were pleased to see strong investor demand for the recent share placement launched by our shareholders, which increased liquidity in our stock.”The company acquired Cowen's prime services business to strengthen its agency and execution division. This reportedly pushed net commission income up by 15% to $202.8 million.Besides that, net interest income doubled from $31.4 million to $63.5 million, reportedly benefiting from reinvested assets at higher yields. Marex continues to strengthen its position through acquisitions aimed at geographic and sectoral growth. The group expanded its presence in the Middle East with the acquisition of Aarna Capital and enhanced its FX capabilities with the purchase of Hamilton Court Group. Additionally, Marex reported an increase in total assets to $19.5 billion as of September 30, 2024, a $1.9 billion jump from the end of 2023.Nine Months Ending SeptemberFollowing the positive results, the Board approved a dividend of $0.14 per share, payable on December 10, 2024, to shareholders of record as of November 25. For the nine months ending September 30, Marex registered a 39% increase in pre-tax profits, amounting to $218 million, compared to $157.1 million in the same period last year.Year-to-date revenue rose by 28% to $1.18 billion, with net commission and trading incomes showing substantial growth. With Adjusted Operating Profit for Q3 2024 at $80.5 million, a 52% increase from Q3 2023, the company's operating margins also improved, rising from 18% to 21%. Following the strong performance, Marex upgraded its full-year profit guidance, now anticipating an Adjusted Operating Profit of $300 million to $305 million, up from the previous estimate of $280 million to $290 million. This article was written by Jared Kirui at www.financemagnates.com.

Voting for the upcoming London Summit Awards 2024 has reached its final stage, with only a few days left to make your voice heard and decide this year’s winners. Registered attendees are invited to cast their vote from a short-list of hand-picked brands, as determined by the earlier Nominations Round. Voting ends November 11, so now is the time to cast your decision if you have not done so already!Each London Summit (FMLS) is concluded with the prestigious awards ceremony on November 20, where this year’s elite brands are recognized on London’s biggest stage. London Summit Awards are unique in that they are never bought and reflect the most sought-after titles across several different categories. This year’s awards will be bestowing praise and accolades in the institutional space across multiple notable key verticals. This includes the online trading, crypto, fintech, and payments space. Up for grabs this year are 23 different awards that can be viewed via the following link – does your brand have what it takes to win one of these titles? Ultimately, there is only one way to ensure you win, and that means voting!Only registered attendees can vote for this year’s awards. This makes signing up for FMLS more important than ever for prospective voting participants. Make sure to reserve your seat to the biggest show in London this year and skip the queues on-site. Clock Winding Down on This Year’s VotingAre you unsure of how to vote? This simplified process takes minutes and is now easier than ever. For any questions, participants can familiarize themselves with the full terms and conditions of the London Summit Awards.These awards are never bought or paid for, backed by the highest levels of transparency. Self-nominations are permissible, and any company is free to nominate itself. Additionally, anyone is also eligible to vote for any other company as a third party as well. Just choose from among any of the short-listed companies that were selected during the nominations round.Beyond voting, FMLS has also recently unveiled its full agenda. Plenty of notable speakers and leading brand authorities will be in attendance, including this year's sponsors for FMLS:24. These individuals and brands are all available for networking, meeting face-to-face, and engagement opportunities. This article was written by Jeff Patterson at www.financemagnates.com.

Jetonbank, a growing name in the digital banking landscape, is preparing for this year’s Finance Magnates London Summit (FMLS24), ready to showcase its innovative financial solutions. With the summit serving as a central hub for industry leaders, decision-makers, and innovators, Jetonbank is set to highlight how its international banking technologies are enabling businesses worldwide to survive in the digital age.Globally Award-Winning Business Banking SolutionsAs businesses expand globally, the demand for seamless, secure, and scalable payment solutions continues to rise. Jetonbank has positioned itself as a trusted partner for companies looking to simplify cross-border transactions and manage complex international payments. Jetonbank supports businesses in over 100 countries, and 30 currencies, providing access to secure payment processing, digital currencies, and multi-currency accounts.With an infrastructure tailored to deliver a top-tier digital banking experience, Jetonbank has established itself as a remarkable player in the FinTech sector. The company has created a global banking network built on speed and security, serving a widespread international user base.How Can Jetonbank Support Your Business?At FMLS24, Jetonbank will introduce its solutions designed to meet the evolving needs of businesses, including:● Dedicated Bank Accounts: Simplify your banking with our dedicated accounts - seamless payments, additional IBANs on request, and instant transaction confirmation.● Multi-Currency Accounts: Enabling businesses to manage funds in multiple currencies, reducing the complexity and cost of cross-border transactions.● Cross Border Payments: Whether making payments to remote staff and enabling smooth transactions with key suppliers, Jetonbank ensures seamless international transfers and currency exchanges in a single pathway.● Supported Digital Assets: Expand your business capabilities with Jetonbank's digital asset payments account. Easily settle digital currencies to fiat in real-time.● Digital Currency Checkout (Payment Gateway): Accept digital currencies, and enjoy the convenience of settling in either fiat or digital currencies based on your client's needs. These solutions have been carefully designed to help businesses maximize efficiency, reduce costs, and enhance their global reach.Digital Currency-Friendly Business Banking One of the most transformative developments in the FinTech industry has been the rise of digital currency exchanges. Jetonbank embraces a digital asset-friendly banking experience, enabling account holders to manage their investments and conduct money transfers using digital currencies. This approach simplifies transactions across multiple digital currencies, empowering users to operate with greater flexibility.Jetonbank's digital asset-friendly banking model makes digital asset management more accessible for corporate clients. The platform offers enhanced features tailored to investors and businesses involved in digital currency, bridging the gap between traditional banking and the digital asset ecosystem. This integration allows digital currency enterprises to access a full suite of banking services while engaging in the growing world of digital finance.Looking Ahead to FMLS24FMLS24 promises to be a key event for Jetonbank as it continues to strengthen its presence in the global fintech space. The summit provides an opportunity to network with industry leaders, share insights on the future of financial services, and explore new avenues for collaboration.Jetonbank is committed to continuous innovation. The team looks forward to discussing how their next-generation business banking solutions can help businesses navigate the complexities of the modern financial ecosystem.Don’t miss the opportunity to visit Jetonbank at FMLS24 Booth #19 to learn more about Jetonbank’s payment solutions and discover how they can support your business in achieving its financial goals.Get in Touch with JetonbankTo explore Jetonbank's offerings or to schedule a meeting, contact the team. Don’t miss the opportunity to learn how Jetonbank’s payment solutions can transform your business and help you achieve your financial goals. This article was written by FM Contributors at www.financemagnates.com.

E-brokerage is a rapidly growing sector worldwide, but does it positively impact society through dedicated social activity? What attitude do traders take to socially beneficial projects in general and the initiatives implemented by Forex brokers in particular? Octa, a global broker since 2011, surveyed traders' engagement in and opinion of various charity initiatives. All generations do their partThe Octa's research covered hundreds of traders in several countries, including Indonesia, Malaysia, Nigeria, and South Africa. Across all countries of the survey, the vast majority of participants (up to 95% depending on the country) belong to three age groups: 26–35, 36–45, and 46–65. Each group had roughly the same representation in the sample. Across all countries of the survey, 59% of traders engage in charity, with Nigeria leading the way with 74% of respondents actively and regularly taking part in various socially beneficial projects. The first noteworthy difference between the countries was established in various age groups' attitudes towards charity. While in most countries, the younger generation aged 26–35 are more engaged in charity, Malaysia boasts a more active social stance among those between 46 and 65. This result is quite intriguing and might suggest a higher involvement of middle-aged Malaysians in social issues compared to other surveyed countries.How do they participate?When it comes to ways respondents engage in charity, around 53% only donate money to charitable causes, with volunteer work being the second most popular choice. Donations are especially popular in Malaysia, where 63% of participants help society this way. There is a strong similarity among all countries regarding which charity causes deserve public attention and investments the most. Answering a multiple-choice question, around 68% of respondents chose healthcare and education as the most important causes. Emergency relief initiatives are the third most popular choice, being especially important for Malaysian and Indonesian traders. This fact can be explained by the numerous natural events that occurred in both countries in recent years. In Nigeria and South Africa, women's empowerment, emergency relief, and environmental causes got roughly the same number of answers, with education still being in the lead.It is worth noting that education is one of the leading charity causes worldwide in terms of investment value and the overall scale of initiatives. In turn, Octa, as a global broker that stays true to its social mission, has been actively involved in educational projects in various countries. The broker focuses on enhancing education opportunities and improving living standards by facilitating learning and personal growth.For example, this year, Octa implemented a charity project together with the KIR foundation to educate Nigerian women and provide them with work tools to help boost their small businesses. In Malaysia, the broker sponsored an on-site coding bootcamp for local youths to increase their learning potential and drive better career opportunities. Trust and information sourcesWhen learning about charity and corporate social responsibility projects in particular, traders use various sources, including social media (14% across all survey countries), printed newspapers, TV, and radio (20%), and word of mouth (11%).Last but not least, 56% of the survey participants put the most trust in domestic charity foundations operating within a city or part of the country. In contrast, large-scale international charity organisations are significantly less popular among the traders' community. Octa traders' survey showed that for most traders, charity initiatives are instrumental in establishing their active social role. Many participate in charitable ventures themselves, opting for donations and volunteer work. The high level of social responsibility among traders and their strong drive towards education emphasises the spirit of community and self-improvement embedded in the trading industry.About OctaOcta is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and a variety of services used by clients from 180 countries who have opened more than 52 million trading accounts. To help its clients reach their investment goals, Octa offers free educational webinars, articles, and analytical tools. The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities. Since its foundation, Octa has won more than 70 awards, including the ‘Best Forex Broker 2023’ award from AllForexRating and the ‘Best Mobile Trading Platform 2024’ award from Global Brand Magazine. This article was written by FM Contributors at www.financemagnates.com.

Swiset, a provider of trading analytics, has acquired Proprietary Firms Tech (PFT), a provider of solutions for proprietary trading firms. This acquisition combines Swiset’s data-driven analytics with PFT’s expertise in prop trading infrastructure. The partnership aims to improve efficiency, intelligence, and scalability for traders and prop firms.AI Integration for Prop Firms“The trading and investment landscape is increasingly integrating prop services into its core offerings. However, the current technology within the CFD's sector has lagged behind advancements seen in other assets, such as futures, crypto, and options,” Andres Jimenez, COO of Swiset.PFT’s platform supports all aspects of prop firm operations, from trader selection to risk management. With Swiset’s AI technology, PFT aims to enhance its analytics, streamline processes, and improve operational intelligence. The integration will allow prop firms to manage risk and analyse performance more effectively."This acquisition enables us to extend Swiset’s sophisticated AI capabilities into the prop trading, enhancing not only user analytics but also empowering prop firms and brokers with more robust risk management tools,” added Jimenez.Unified Platform for TradingThe merger will create a unified trading experience that incorporates AI-driven insights. Traders will benefit from transparency, while prop firms gain access to a platform that combines PFT’s operational tools with Swiset’s analytics. This acquisition is part of Swiset’s focus on innovation and a tech-driven approach in the trading sector. The merger is expected to enhance connectivity and offer smarter solutions for both traders and prop firms.Meanwhile, Dynamic Works has introduced a new integrated feature for Brokeree Prop Pulse, a system for managing accounts in proprietary trading firms. This feature allows clients to browse and select various prop trading plans in the client area, as reported by Finance Magnates. After choosing a plan, clients can make a deposit, which Syntellicore processes by deducting the prop trading fee and setting up the relevant trading account. The account is then linked to the chosen trading challenge, allowing clients to begin trading. This article was written by Tareq Sikder at www.financemagnates.com.