The Commodity Futures Trading Commission has partnered with the American Bankers Association Foundation along with other federal agencies and a private regulator to distribute an infographic to help consumers recognize and avoid so-called “pig butchering” fraud. The CFTC’s Office of Customer Education and Outreach is also partnering with the SEC’s Office of Investor Education and Advocacy, the Financial Industry Regulatory Authority, and the North American Securities Administrators Association to develop and distribute an investor alert that gives customers a clear picture of how “pig butchering” scammers work their way into the minds and wallets of everyday, knowledgeable people. “Hopefully message reaches people before they get scammed” The alert targets individuals who think they would never fall for this type of scam by giving them an introspective on how these fraudsters have perfected their criminal craft to entice even the savviest investors. One way all investors can protect themselves is to stop the scam before it starts by not responding to unexpected or unsolicited text messages from unknown senders. The one-page infographic illustrates the scam’s phases—from how victims are targeted and groomed to how the scam ends — and provides warning signs and steps to take if a person has been victimized. CFTC’s Office of Customer Education and Outreach Director Melanie Devoe said: “Partnering with federal and state regulators as well as consumer protection groups and other organizations helps spread the CFTC’s customer education message and hopefully reaches people before they can get scammed. These partnerships focus on a relationship confidence fraud the perpetrators commonly refer to as ‘pig butchering,’ that is estimated to cost Americans billions each year.”              

Mintos has announced it has completed its European expansion with the roll out of the multi-asset trading platform across the continent. The MiFID-authorized platform founded in 2015 has onboarded more than 500,000 users across Europe over the years and has reached over 600 million euros in assets under administration. Passive funds have outpaced active funds in growth 2023 and 2024 were years of strong geographical expansion, where Mintos launched its operations in new European markets. To fuel growth, Mintos launched their second crowdfunding campaign with Crowdcube in April 2024, securing EUR 3.1 million. This campaign holds the position of the second largest crowdfunding campaign on Crowdcube for the year so far. The Germany-headquartered investing platform has completed its plan of expanding its European presence with official launches in Portugal and the Czech Republic in Q3 2024. Now, most EU citizens as well as additional eligible nationalities over the age of 18 can register and invest. Mintos aligns with the growing shift towards passive investing by offering a diverse range of options designed for long-term growth. Recent data underscores a shift towards passive investing, especially during market volatility. Passive funds have outpaced active funds in growth, with assets under management increasing by an average of 11% annually over the past decade. Notably, in volatile years like 2018, 2022, and 2023, the net flows to passive funds surpassed active funds by approximately €470 billion. This trend reflects a broader preference for stable, long-term investment strategies. With loans, bonds, ETFs, real estate, and Smart Cash, Mintos offers a mix of alternative and traditional investments for long-term investors. This one-of-a-kind offering enables retail investors to consolidate their portfolios and easily manage all their long-term investments from a single platform. Martins Sulte, CEO and co-founder of Mintos, said: “Our expansion across Europe is a significant step in making high-quality investment opportunities more accessible to more retail investors. We’re committed to helping investors of all experience levels diversify their portfolios with a balanced mix of traditional and alternative assets.” It was in 2023 that Mintos transformed into a multi-asset investment platform, introducing Fractional Bonds and ETFs alongside its core business of investing in loans. This year, the platform kept expanding its selection of products and added rental real estate and Smart Cash as the retail brokerage aims to become the preferred platform for long-term investors in Europe.

Ebury has partnered with Salt Edge to integrate its EU and UK PSD2 APIs and enable both companies to enhance visibility and attract new customers while offering existing customers open banking services. The fintech specializing in payments and collections, FX risk management, and business lending founded in 2009 aims to simplify and power global trade by helping clients scale and transact all over the world. The new partnership comes as part of these efforts. EU and UK PSD2 API helps eliminate regulatory burdens The integration will offer Ebury account holders immediate access, in a compliant manner, to the vast network of accounting, Enterprise Resource Planning (ERP), and Treasury Management platforms using Salt Edge services for automated reconciliation. This means increased visibility amongst financial service providers in Europe and the UK, allowing Ebury clients to experience the convenience of open banking. Toby Young, Group Technology Director at Ebury, said: Ebury is excited to be working with Salt Edge to extend the benefits of open banking to our UK and EU customers. Ebury exists to connect companies to the world and optimise international trade, and our partnership with Salt Edge will simplify our customers’ reconciliation processes, allowing them to focus on growing their businesses.” Bodrug Virgiliu, Open Banking Solutions Expert at Salt Edge, commented: Salt Edge is thrilled to support Ebury’s commitment to helping SMEs and businesses streamline and simplify cross-border trade. By adding Ebury’s PSD2 API to our network, we enable their clients to securely and seamlessly share account information with ours, eliminating regulatory burdens. Leveraging Ebury’s unique product offering, this collaboration reinforces our shared dedication to delivering innovative and comprehensive financial solutions.” Ebury sponsors Rangers FC and Fulham FC Ebury has signed a sponsorship deal with Rangers Football Club establishing the payments provider as the club’s Official FX Transfer Partner. This team-up is set to continue until the end of the 2025/26 season, adding Rangers to Ebury’s expanding Sports portfolio. Ebury offers a comprehensive range of services, including international payments and collections, foreign exchange in more than 130 currencies, cash management, business lending, risk management, and API integrations. This partnership brings benefits to both parties, with Ebury providing extensive solutions to streamline Rangers’ global finance operations while enhancing its brand value next to football fans. The deal with Rangers FC is not Ebury’s first sports sponsorship venture. Last year, the firm announced a partnership with Fulham FC. Ebury’s planned IPO, African expansion, and enhancements The company is preparing for an initial public offering (IPO) anticipated to occur as early as 2025. To facilitate this, Ebury has engaged the services of investment bank Perella Weinberg Partners. The planned IPO, potentially on the London Stock Exchange, reflects Ebury’s substantial growth, particularly since majority ownership by Santander has propelled its valuation and market presence. Ebury has marked a significant milestone in its global expansion strategy by acquiring Prime Financial Markets, a financial services firm based in Johannesburg. This acquisition represents Ebury’s first foray into the African market. Prime Financial Markets is recognized for its expertise in treasury and financial market advice, aligning well with Ebury’s offerings. The move into Africa is part of Ebury’s broader strategy to grow internationally and enhance its platform for comprehensive global financial services. Ebury has also focused on enhancing its internal operational excellence. The company has chosen Galvanize, a leading software provider in governance, risk, and compliance, to streamline and improve its enterprise risk and control management. This initiative aims to increase efficiency, visibility, and data-driven decision-making across the organization.

Amega has integrated Acuity’s AnalysisIQ tool via API into its platform, providing traders with access to high-quality market signals and insightful trading strategies. The online broker, which provides access to CFD products on a wide range of tradable assets, including Forex pairs, stocks, indices, precious metals, and energies to 180,000 clients across 120 countries, has upped its game with Acuity. Produced by PIA-First (which is authorised and regulated by the FCA), AnalysisIQ offers traders forward-thinking market analysis backed by experienced analysts and AI-driven insights. By integrating AnalysisIQ, Amega is enhancing its offering with top-tier trading services. Amega clients will benefit from transparent, actionable trade ideas with precise target levels, confidence ratings, and risk/reward ratios exceeding 2:1, with some reaching 5:1. “Empowering traders with clear, actionable insights” Vadim Zhuravlev, Amega CEO, commented: “We’re thrilled to offer our clients access to Acuity Trading’s advanced market analysis tool. This partnership reflects our dedication to providing cutting-edge technology and trustworthy services. By integrating AnalysisIQ, we empower traders with clear, actionable insights to enhance their trading experience.” Andrew Lane, Acuity Trading CEO, added: “We are excited to partner with Amega, a broker that shares our vision of empowering traders with the best tools and insights. The integration of AnalysisIQ, one of the best integrations we have seen a client perform, will help Amega’s clients make more informed decisions and ultimately enhance their trading experience.” AnalysisIQ to help Amega clients with trade ideas The integration enhances Amega’s user-friendly platform, which features simple navigation, seamless onboarding, and an Ideas Hub offering trading signals, market analytics, and educational content. Additionally, Amega’s trading conditions include leverage up to 1:1000, zero commissions, and cashback on every traded lot. Acuity Trading’s AnalysisIQ will enhance Amega clients’ trading experience with market signals and actionable strategies available via API. Trade ideas are crafted by human analysts and AI technology, incorporating data sources like news sentiment and technical indicators. Updated regularly, these trade ideas help traders’ decision-making process. The platform can be integrated into Amega’s newly released mobile application via API. Acuity Trading is a provider of alpha generating alternative data and highly engaging trading tools using the latest in AI research and technology. Flexible delivery options include APIs, MT4/5, plug and play widgets and third party automation services. Acuity Trading integrated with Techysquad’s Forex CRM Andrew Lane’s company recently partnered with Techysquad to deliver a comprehensive toolset to empower brokers and traders with enhanced market insights and analysis. Acuity’s Research Terminal, a financial market analysis platform that leverages advanced data analytics and sentiment analysis to provide traders and investors with actionable insights, has been integrated with Techysquad’s Forex CRM system. Techysquad’s Forex CRM supports platforms like MT4, MT5, VertexFX, cTrader, TradeLocker, and MatchTrade. Built with the needs of forex brokers in mind, Techysquad offers innovative solutions such as quick setup, multi-level IB commission tools, unlimited user support, and customizable features for managing client interactions. Research Terminal by Acuity Trading leverages artificial intelligence (AI) and machine learning (ML) technologies to process vast amounts of data, offering features such as: Sentiment Analysis: Acuity Trading analyzes the sentiment behind news articles and social media to gauge market trends and investor sentiment. Data Visualization: The platform presents data through charts, heat maps, and other visual tools to help users understand trends and market movements. Real-Time Alerts: It provides real-time alerts on breaking news and events that may impact the markets. Customization: Users can tailor the terminal to focus on specific assets, sectors, or regions based on their trading strategy. It is a valuable tool for both institutional and retail traders seeking to enhance their decision-making with data-driven insights. The integration of Acuity Trading’s Research Terminal will further elevate the platform, providing users with access to Acuity’s suite of research tools, including: AnalysisIQ: A tool that supports decision-making for traders by offering high-quality trade ideas from experienced analysts. AssetIQ: In-depth asset analysis offering unique market signals and insights into individual asset performance. Corporate Calendar: Reliable corporate actions data and financial news from Dow Jones, helping traders seize opportunities arising from corporate events. Economic Calendar: A comprehensive economic events calendar built on Dow Jones data, helping users navigate market volatility and manage risk. NewsIQ: Analysis of news affecting popular assets, highlighting data patterns and identifying actionable opportunities.

Kuady launches a virtual prepaid Mastercard in Peru, offering users a secure and flexible way to make payments online and access their funds instantly. Kuady, a leading payments service provider in Latin America, has launched the Kuady Card, a new virtual prepaid Mastercard now available to users in Peru. This card offers a secure, flexible, and convenient solution for making online payments, enhancing the user experience in the region. The Kuady Card enables online merchants to pay directly into Kuady accounts, allowing them to build stronger customer relationships through faster and more efficient payment methods. Integrated into the Kuady app, the card allows users to make secure online purchases with any merchant that accepts Mastercard, using their Kuady wallet balance. With instant access to their payouts, consumers can spend their money without delay, offering a smooth and flexible transaction experience. The Kuady Card simplifies purchases by enabling direct payments from the user’s account, and users also have the option to request a physical card for in-store purchases. This launch is part of Kuady’s strategy to expand its services and offer users more secure and versatile payment options. By partnering with Mastercard’s reliable payment infrastructure, Kuady aims to provide a seamless and trustworthy payment experience for its users in Peru. Lorenzo Pellegrino, CEO at Kuady said: “We are thrilled to introduce the Kuady card to our users in Peru, where the demand for flexible and secure payment solutions is rapidly growing. The launch of our virtual prepaid Mastercard is a significant milestone for us. It not only expands our service offerings but gives our customers greater control and convenience in managing their financial transactions. We understand that our customers value both security and flexibility when managing their finances. The Kuady card offers our customers a new way to shop online securely, with the added benefit of future integration into mobile wallets for seamless contactless payments.” About Kuady Kuady, operated by Open Payment Technologies Ltd, is a digital wallet app launched in July 2024, designed to revolutionize financial management for users and merchants globally. Registered in the Isle of Man (company number 136352C) and regulated by the Isle of Man Financial Services Authority, Kuady offers a secure and innovative platform for electronic money transmission services. Managed by Mario Ricciardi, the app focuses on enhancing financial inclusion with user-friendly features, diverse payment options, and comprehensive benefits tailored to meet the needs of both consumers and businesses. Explore more about Kuady at Kuady.

The global rise of digital assets has prompted a wave of regulatory developments aimed at ensuring transparency, security, and compliance in the crypto space.  One of the most significant advancements in this realm is the introduction of the Crypto-Asset Reporting Framework (CARF), designed by the Organisation for Economic Co-operation and Development (OECD).  Around 50 countries announced they will transpose the CARF into domestic law and activate exchange agreements in time for exchanges to commence by 2027. The signatory jurisdictions to the Common Reporting Standard (CRS) will also implement amendments to this standard. What is the Crypto-Asset Reporting Framework (CARF)? CARF, an international framework established to address the growing challenges of tax evasion and financial crimes associated with crypto asset, represents a monumental shift in how crypto assets are monitored and reported on a global scale. It provides a standardized approach for the automatic exchange of information between jurisdictions concerning crypto assets. Essentially, CARF aims to bring the same level of transparency to crypto transactions as exists for traditional financial assets under the Common Reporting Standard (CRS). Reporting obligations under CARF would largely fall on intermediaries which allow the exchange of crypto-assets into currency or other assets, facilitate reportable payments or allow for the transfer of crypto-assets. Additionally, CARF introduces 3 proposed amendments to the CRS (referred to as CRS 2.0): Changes to manage the interaction with the CARF Changes to bring e-money and central bank digital currencies into scope of CRS and Changes to improve compliance by organizations already in scope of CRS with a view to close loopholes unrelated to crypto-assets. Many Financial Institutions will need to consider both CARF and CRS 2.0 changes across their organization. There is likely to be substantial data uplift and procedural requirement changes to comply with increased reporting and the addition of new elements to reports.  Who collects and reports this information? CASPs: This includes exchanges, brokers, and wallet providers who facilitate crypto transactions. They are expected to have the most comprehensive access to the relevant transactional data. Entities with control over decentralized exchanges (DEXs) or DeFi protocols: Given their role in facilitating peer-to-peer transactions, they must ensure compliance with the new reporting requirements. NFT marketplaces: Those facilitating transactions in NFTs may also be responsible for reporting data on certain large-value transactions involving crypto assets. What is reported? Exchanges between crypto and fiat: This includes buying or selling crypto assets for traditional currency, such as exchanging Bitcoin for USD. Exchanges between different types of crypto-assets: For instance, trading Bitcoin for Ethereum falls under this category. High-value retail payment transactions: Retail payments involving crypto assets that exceed $50,000 in value must be reported. This is to capture larger transactions that might otherwise evade traditional tax reporting systems. Transfers of crypto-assets (on- or off-platform): Both on-platform (within the exchange) and off-platform (to an external wallet) transfers of relevant crypto-assets will need to be tracked and reported. Enforcing CARF will be difficult due to the decentralized nature of crypto transactions According to CRS and CARF expert Mark Morris, CARF is far more complex than CRS, and many Crypto Service Asset Providers (RCASPs) may not be easily classified as Reporting Institutions. He explains that CARF expands the scope to both individuals and entities, unlike CRS, which limits reporting to financial institutions. Morris highlights that RCASPs are involved in effectuating transactions, while CRS institutions primarily hold accounts. Crypto miners, he notes, are exempt from reporting as they operate independently. Morris also points out that CARF does not clearly define what it means to “effectuate” a transaction, but it provides examples like crypto dealers, ATM operators, and brokers who would qualify. He emphasizes that merely providing a trading platform could classify an entity as an RCASP if they have sufficient control or influence over it. However, Morris observes that only those with a nexus to CARF-compliant jurisdictions are subject to these regulations. Morris believes enforcing CARF will be difficult due to the decentralized nature of crypto transactions, making it hard to identify RCASPs. He adds that CARF lacks enforcement provisions similar to CRS, which could lead to a divide between compliant and non-compliant exchanges. Finally, Morris underscores that CARF closes a major loophole in CRS regarding Managed Investment Entities (PMIEs). CARF now looks through these entities to identify controlling persons and requires double reporting on equity and debt holders, which he sees as a significant shift from CRS. OECD to update CARF amid growth of DeFi David Wren, Partner, Operational Tax at KPMG UK, commented on the revision of the CARF guidelines, highlighting that the “removal of wallet address reporting is the biggest change and addresses real data privacy concerns, although CASPs will be required to hold that information themselves for 5 years.” Complaining that authorities don’t usually publish mark-ups of final vs draft rules, Wren added that the OECD plans to update CARF where needed, with particular focus on the growth of DeFi. Wren told Raconteur.net that asset managers must keep abreast of changes to the Automatic Exchange of Information (AEOI) as recent amendments resulted in a substantial increase in the amount of information to be reported for every customer relationship and created an even heavier burden for asset managers. “For example, the crypto digital token reporting that asset managers will soon be required to complete is oriented around transactions, whereas the reporting currently undertaken tends to focus on a point in time.” Transaction-level tracking and fair market value assessments are essential CARF is seen as a critical step towards global tax harmonization for digital assets, requiring detailed customer activity tracking and market value assessments. Max Bernt, Managing Director, Europe, Taxbit, noted that CARF addresses the growing need for oversight in the digital asset industry, which has seen the rise of new intermediaries and service providers that have traditionally operated outside the scope of existing tax reporting frameworks. “Under CARF, businesses and financial institutions dealing with digital assets—including cryptocurrencies, certain stablecoins, tokenized financial instruments, and certain non-fungible tokens (NFTs)—will be required to adhere to a set of new reporting obligations. This includes detailed tracking of customer-level activities such as buying, selling, trading, and transferring digital assets, both on and off platforms. While reporting to tax administrations will be done on an aggregate basis, transaction-level tracking, along with fair market value assessments, most likely will be essential to meet compliance requirements. “Additionally, businesses will face enhanced due diligence requirements akin to those already in place under the Common Reporting Standard (CRS). This will necessitate the collection of customer tax information through Self-Certification processes not only at the time of account opening, but also for pre-existing accounts, further aligning the digital asset industry with global tax compliance standards. “For businesses operating within this space, early preparation and a proactive approach to compliance will be critical, as penalties for non-compliance are mostly quite harsh. By 2026, those who have embraced these changes will not only mitigate potential risks but also position themselves as trusted and compliant players in the rapidly growing digital asset ecosystem.” CARF will help reduce market uncertainties The standardization of reporting requirements under CARF could significantly enhance regulatory compliance and transparency for institutional investors. Lennix Lai, Global Chief Commercial Officer at OKX, echoes this sentiment, noting that CARF, set for implementation in 2027, will help reduce market uncertainties and foster trust. Lai refers to an OKX-commissioned report, which suggests that the convergence of regulatory frameworks will strengthen consumer protection and offer more opportunities for institutional investors in the digital asset space. The report from Economist Impact, commissioned by OKX, explores the growing role of digital assets in institutional portfolios and provides insights for institutional investors navigating the rapidly evolving digital asset landscape. Key takeaways include: Increased Adoption of Digital Assets: Digital assets like cryptocurrencies, NFTs, and tokenized securities are gaining traction among institutional investors. A 2023 survey found that 40% of financial market participants already engage with digital assets. Opportunities for Institutional Investors: As blockchain technology matures and regulatory clarity improves, digital assets are expected to become a standard in institutional portfolios. The projected value of tokenized assets could exceed $10 trillion by 2030, with digital assets expected to account for 7.2% of institutional portfolios by 2027. Diverse Investment Vehicles: The report notes a growing range of investment products, including ETFs, tokenized funds, and crypto derivatives. Institutional interest is shifting beyond traditional cryptocurrencies to tokenized real-world assets, including bonds and equities. Regulatory Developments: Global regulatory frameworks, such as the EU’s Markets in Crypto-Assets Regulation (MiCA) and various national guidelines, are providing much-needed clarity, enhancing market stability, and fostering institutional confidence in digital assets. Risk Management and Custody: The rise of institutional-grade custodians and security measures, such as multi-party computation wallets, is helping mitigate risks like hacking and system failures, encouraging more institutional involvement in digital asset markets. So….is CARF good or bad? The introduction of the Crypto-Asset Reporting Framework (CARF) by the OECD, coming into effect in 2027, seeks to harmonize the reporting of crypto transactions across jurisdictions, providing a much-needed structure for transparency and accountability in the crypto space. However, the implications of CARF are mixed, and the impact on the crypto industry depends on various factors. From a regulatory perspective, CARF is a positive step towards reducing risks associated with crypto, including tax evasion, fraud, and money laundering. By enforcing standardized reporting rules, CARF could enhance trust in digital assets, making them more attractive to institutional investors. This, in turn, could foster wider adoption of crypto in traditional financial markets. For many in the industry, the legitimization of digital assets through CARF might outweigh concerns over compliance costs and operational burdens. On the other hand, the decentralized nature of crypto presents a unique challenge for CARF enforcement. Many crypto transactions occur on decentralized exchanges (DEXs) or through peer-to-peer networks, which may not fall under the jurisdiction of specific regulators. This could create a divide between compliant and non-compliant platforms, potentially pushing illicit activity to less-regulated corners of the crypto ecosystem. The lack of clear enforcement mechanisms for CARF raises concerns about its effectiveness in a space designed to operate independently of centralized control. Privacy is another major issue for crypto enthusiasts. One of the founding principles of cryptocurrencies is the ability to transact with a degree of anonymity. CARF’s reporting requirements may undermine this principle, leading to pushback from privacy advocates. However, proponents argue that the framework’s focus on larger transactions and high-value payments is a necessary compromise to balance privacy with the need for oversight in an industry prone to misuse. For crypto service providers, especially smaller firms, the implementation of CARF could mean higher compliance costs and significant changes to their operational models. The need to track and report detailed customer activity and ensure fair market value assessments could be burdensome for businesses. While larger institutions may absorb these costs more easily, smaller platforms could struggle to meet the new obligations, potentially stifling innovation and competition in the industry. Finally, the success of CARF largely hinges on the level of global cooperation. If only a few jurisdictions adopt and enforce CARF, it risks being ineffective, with transactions simply shifting to non-compliant regions. On the other hand, widespread adoption could create a unified regulatory framework that boosts confidence in digital assets while reducing market uncertainty. Ultimately, CARF’s impact on the crypto industry will depend on how well it is integrated into national regulatory systems and the willingness of the crypto community to adapt to the new landscape.

Singapore authorities are investigating seven individuals for allegedly offering services to buy or sell Worldcoin accounts and tokens, which could be considered an offense under the country’s regulations, according to a written reply from the government in parliament. Worldcoin, a retina-scanning cryptocurrency startup, was founded by OpenAI creator Sam Altman. The issue was raised by Singaporean Members of Parliament Rachel Ong and Derrick Goh, who questioned whether the sale of Worldcoin in Singapore is regulated and whether there are associated risks. Deputy Prime Minister Gan Kim Yong, also the Chairman of the Monetary Authority of Singapore, stated that while Worldcoin itself does not provide a payment service under current regulations. As such, individuals buying or selling Worldcoin accounts and tokens may be breaking the law by acting as unlicensed payment service providers. On August 7, Singapore police warned the public against selling or giving away their Worldcoin accounts or tokens, citing concerns they could be used for criminal activities. Worldcoin has faced regulatory scrutiny in other countries, including Colombia, Hong Kong, Argentina, and Kenya. A spokesperson for Tools for Humanity, which is associated with Worldcoin, clarified that “neither Worldcoin nor Tools for Humanity are under investigation by police in Singapore.” The individuals under investigation are not affiliated with Worldcoin or its operations. The spokesperson further stated, “The Worldcoin Foundation in Singapore, and globally, operates in compliance with all relevant laws and regulations, including the Payment Services Act in Singapore. Any reports or speculation suggesting otherwise are false and misleading.” Earlier in July, Worldcoin denied allegations that it allowed insiders to profit from movements of its token, citing its “zero tolerance” for such activities. The announcement came after DeFi Squared alleged in an X post that the Sam Altman’s project engaged in price manipulation of its Worldcoin (WLD) token. The account suggested that someone from the team might have used insider information to buy the token before the project announced a delay to its native token unlock schedule. In addition to DeFi Squared, pseudonymous crypto investigator ZachXBT also accused Worldcoin of allowing insiders to profit from what he described as a “scam token.” ZachXBT claimed that team members and venture capitalists were complicit in what he termed “the biggest scam token of the bull run.” A Worldcoin spokesperson denied these allegations, stating that the project takes such claims seriously and would not permit such activities.  

The National Bank of Ras Al Khaimah, also known as Rakbank, has become one of the first banks in the United Arab Emirates to successfully execute an international remittance using China’s digital Yuan (eCNY) in exchange for the Digital Dirham, the UAE’s CBDC. The announcement comes as countries all over the world study and test the launch of central bank digital currencies (CBDCs) because of their transformative potential in revolutionizing cross-border payments in real-time with enhanced transparency and reduced costs. According to the firm, RAKBANK is now one of the first banks globally to be part of a live CBDC platform and is ready to transact. mBridge, a DLT-powered multi-central bank digital currency platform The live trade of eCNY against the digital Dirham took place as part of Project mBridge, an initiative aimed at addressing inefficiencies in cross-border payments by developing a multi-central bank digital currency platform, built on distributed ledger technology (DLT). Launched in 2021, mBridge is a collaborative effort between the Central Bank of the United Arab Emirates (CBUAE), the BIS Innovation Hub, the Bank of Thailand, the Digital Currency Institute of the People’s Bank of China, and the Hong Kong Monetary Authority. mBridge allows participating central and commercial banks to conduct real-time, peer-to-peer cross-border payments and foreign exchange transactions. The mBridge Ledger, a new blockchain, underpins the platform, supporting secure and instantaneous transactions. “A game-changer in several respects” Raheel Ahmed, Group CEO of RAKBANK, said: “The participation of RAKBANK in the mBridge platform and the execution of our first-ever central bank digital currency international payment highlight RAKBANK’s cutting-edge digital capabilities. This milestone reflects our commitment to breaking boundaries and solidifying our position as a leading retail and commercial bank in the UAE, with a rapidly expanding international payments arm”. Vikas Suri, Co-Head of Wholesale Banking Group at RAKBANK, commented: “The successful transfer of eCNY to our correspondent in China is a game-changer in several respects. It’s one of the first UAE-led foreign currency transfers executed in local currencies without involving a third currency to China and without using conventional payment rails. This is a gamechanger that paves the way for instant blockchain based CBDC exchanges with payment versus payment, fundamentally altering how we approach international payments. Our next steps will focus on supporting the China and UAE business corridor for our clients, by leveraging mBridge to reduce costs and improve the speed of remittances.” Rakbank partnered with Bitpanda for digital asset infrastructure Rankbank recently tapped Bitpanda Technology Solutions (BTS) to provide a robust platform for managing digital assets in the United Arab Emirates. BTS is a leading digital assets infrastructure provider that recently entered the Middle East and North Africa region by opening offices in Dubai and launching Bitpanda MENA. Bitpanda MENA opened its first office in Dubai at the DMCC Crypto Centre and has already appointed an experienced team led by Walid Benothman to tailor its offering to the local market. In line with its long history of regulatory compliance, Bitpanda is in the final stages of obtaining its FSP and will continue to work with local regulators to ensure a fully compliant product offering. BTS allows its partners to integrate a modular and scaled 24/7 trading infrastructure and offer trading, investing, and custody services across every asset class in a modular way. Partners can build their own user experiences on an ISO 27001-certified and battle-proofed infrastructure including features such as savings plans, asset-to-asset swaps, and crypto staking functionality. Additionally, all of Bitpanda’s European licenses and regulatory experience can be accessed through a partnership with the most comprehensive and regulated crypto platform in Europe. When fully launched, RAKBANK customers will be able to pursue various digital assets use cases, and settle with payment tokens safely and securely, unlocking one of the most complete offerings available in the UAE market. This is however subject to CBUAE approval. The provision of services is contingent upon Bitpanda Broker MENA DMCC receiving operational approval and a license from VARA, as well as RAKBANK obtaining the necessary approval from the CBUAE.

In the heated Trump-Harris debate yesterday, the US Presidential candidates clashed on major topics such as the economy, foreign policy, gun control, and immigration. A surprising moment occurred when Trump repeated a bizarre, unfounded claim that migrants in Ohio were eating cats and dogs—an accusation quickly debunked by local authorities. “Crypto is nowhere near as important to either presidential candidate” One issue notably absent from their discussion was cryptocurrency. Despite its growing influence in finance and technology, and the US crypto industry’s significant financial support for politicians, crypto failed to get a mention. Tim Kravchunovsky, CEO of Chirp, a decentralized telecommunications network, expressed disappointment, saying that it showed just how low crypto ranks on the political agenda for both candidates. “Yesterday’s presidential debate between Donald Trump and Kamala Harris was disappointing for crypto, but not unexpected. It was simply proof that crypto is nowhere near as important to either presidential candidate as it is to us in the Web3 world. “Over the last few months, the entire crypto ecosystem has all but come to a standstill waiting for the outcome of the US election. But while crypto may still get more limelight in the next presidential debate, we shouldn’t pin all our hopes on politics. Instead, as we await the US election date, we should focus on what we do best – building our infrastructure, launching our tokens, forging key partnerships. “The outcome of the US election will for sure have an impact on crypto, but it may not be as profound as many seem to think. Crypto isn’t anywhere near as high on the agenda as many are hoping, so it’s up to us in the Web3 ecosystem to spearhead innovation. Let’s stop waiting for the Fed, the election, and other macro events to dictate our timelines. We need to take control of our own narrative and show politicians that crypto innovation isn’t going anywhere. If we don’t stand still, we will also make it clear we are a force to be reckoned with.” Why crypto was a ‘no-show’? The absence of cryptocurrency and its regulation from the U.S. presidential campaign raises questions about its significance to the average voter. While the crypto space has seen significant progress, such as institutional players entering the market and the SEC approving Bitcoin and Ether ETFs, the debate stage is dominated by more traditional concerns like inflation, immigration, and foreign policy. One explanation may be that cryptocurrency, despite its potential and growing infrastructure, has not reached a level of mainstream adoption that resonates with the broader electorate. While enthusiasts and investors view it as revolutionary, most Americans might still see it as speculative or peripheral to their daily lives. Interestingly, Chainalysis released today its fifth annual Global Crypto Adoption Index. The United States comes in 4th, with the popularity of digital assets being mirrored in the fact that crypto is supposedly “a hot-button topic in the run-up to the Presidential election”, the firm stated. The debate didn’t give that impression, though. Crypto’s complexity and volatility may deter political candidates from championing it on a national platform. Regulation is a highly nuanced topic, and the future of crypto law—while critical for Web3 developers and investors—remains a niche concern for most. The slow pace of adoption by the public also supports the idea that crypto hasn’t yet hit the “must-have” status that some advocates anticipated by this point. Moreover, crypto’s regulatory landscape is murky, and the ongoing tension between decentralization and government oversight might make it an uncomfortable issue for politicians. As Kravchunovsky pointed out, crypto projects should focus on innovation rather than hoping for policy changes. The question then becomes: is the future of crypto shaped by regulations, or will it thrive through continued technological advances and community-driven growth, independent of political priorities? If public demand for crypto doesn’t increase, its visibility in national conversations might remain limited despite its advancements. The challenge for the crypto industry may be less about infrastructure and more about proving its relevance to the everyday lives of Americans.

The Japanese yen has strengthened against the US dollar, with the USD/JPY pair hitting a new yearly low. This decline was triggered by comments from a Bank of Japan official, suggesting that the central bank may continue raising interest rates to combat inflation. Junko Nakagawa stated that the BoJ would adjust its monetary policy to ensure that inflation reaches its 2% target sustainably. Technical Analysis Descending Channel: The USD/JPY pair has been trading within a descending channel since early August. Support Level: The price has recently fallen to the median of this channel, which has historically provided support. Resistance Shift: The 143.7 level has transitioned from a support level to a resistance level, indicating a bearish trend. Price Position: The price is currently below the Resistance 1 trendline. Upcoming Volatility The release of the US Consumer Price Index (CPI) at 15:30 today is expected to increase market volatility. If the CPI data comes in hotter than expected, it could put upward pressure on the US dollar and lead to a rebound in the USD/JPY pair. However, given the current bearish sentiment, there is a risk that the rate could continue to decline, potentially reaching the psychological level of 140 yen per dollar. FXOpen offers spreads from 0.0 pips and commissions from $1.50 per lot. Enjoy trading on MT4, MT5, TickTrader or TradingView trading platforms! This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.  

In today’s fast-paced financial markets, managing risk is paramount for traders, whether seasoned professionals or newcomers. ATFX’s new Clients Fund Insurance product is designed to address these risks by offering an additional layer of protection for traders’ funds. What is Clients Fund Insurance? Clients Fund Insurance is a specialized insurance product designed to protect traders’ funds held in brokerage accounts. It acts as a safety net, ensuring that traders’ capital is safeguarded against unforeseen events such as broker insolvency, fraud, or other financial mishaps. This type of insurance is particularly valuable in volatile markets where the risk of financial instability is higher How Does Clients Fund Insurance Work? Clients Fund Insurance typically involves a partnership between the brokerage firm and an insurance provider. The brokerage firm pays a premium to the insurance provider, who in turn offers coverage for the clients’ funds. The specifics of the coverage, such as the maximum amount insured and the types of risks covered, can vary depending on the policy. In the event of a claim, the insurance provider assesses the situation and compensates the affected traders according to the terms of the policy. This process ensures that traders receive timely and fair compensation, allowing them to resume their trading activities with minimal disruption. But how exactly does this product benefit traders? Let’s take a closer look. 1. Enhanced Protection and Peace of Mind One of the biggest concerns for traders is the safety of their funds. Unexpected market events or financial instability can result in significant losses. With Clients Fund Insurance, traders can rest assured that their deposits are safeguarded, offering peace of mind in uncertain times. This added protection minimizes the financial impact of unforeseen circumstances, allowing traders to focus on their strategies rather than worrying about potential fund depletion. 2. Mitigating Broker Insolvency Risk While ATFX prides itself on being a trusted broker with strong financial backing, the Clients Fund Insurance product adds an extra layer of security by protecting against insolvency related risks. In the unlikely event of broker insolvency, the insurance coverage helps ensure that traders’ funds remain intact, further fostering confidence and trust. 3. Increased Confidence in Trading By knowing their funds are protected, traders are more likely to engage in trading activities with confidence. This can lead to more proactive strategies and willingness to explore new opportunities. Clients Fund Insurance not only protects capital but also encourages traders to make bolder, well-informed decisions without the constant fear of losing their investments due to factors beyond their control. 4. Competitive Edge for ATFX ATFX’s decision to introduce Clients Fund Insurance sets it apart from competitors. As regulatory environments continue to evolve, traders are increasingly looking for brokers that go above and beyond standard practices. By providing this insurance, ATFX reinforces its commitment to protecting clients and enhancing trust, making it a broker of choice for those who prioritize fund security. Conclusion In an industry where trust and security are paramount, ATFX’s Clients Fund Insurance stands out as an essential tool for traders. It not only provides peace of mind and mitigates risks but also empowers traders to pursue opportunities with greater confidence. With this product, ATFX continues to solidify its position as a broker that places clients’ interests and security at the forefront. The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff.

MAS Markets has appointed Shobin Mathew Simon as the Head of Institutional Sales for the MENA region as the firm looks to further expand in this key region. The multi-asset liquidity provider, founded by Simon Blackledge, is a UK FCA-regulated multi-asset liquidity provider offering tailored access for brokers, asset managers, and funds to industry-leading Tier 1 liquidity, connectivity, and distribution services. Shobin Mathew Simon was VP of Institutional Sales at Advanced Markets Shobin Mathew Simon joins MAS Markets after nearly ten years at wholesale FX infrastructure provider Advanced Markets, first as Institutional Sales Manager and then as VP of Institutional Sales. His wealth of experience and expertise in financial services also includes five years at Fortex (a sister company of Advanced Markets), Boston Prime, LCG, City Credit, and Barclays. The new Head of Institutional Sales MENA moved to Dubai in 2006 to work for Barclays Bank. His career later took him to London, where he held key roles in the FX and CFD industry, including roles as retail and institutional sales manager for the several firms mentioned above. Shobin Mathew Simon will be based in London, UK for his new role at the Prime of Prime broker. Shobin holds a Bachelor’s Degree in Computer Science and a Master’s Degree in Business Administration. He has lived in India, Kuwait, Dubai, and London, and is fluent in English, Hindi, Tamil, and Malayalam. Experienced financial professional with a demonstrated history of working in the capital markets industry. Skilled in Securities, Asset Management, Hedge Fund, Financial technology, Trading Systems, and Trading. Strong sales professional with a FCA Regulation from Chartered Institute for Securities & Investment (CISI). “Working to unlock new opportunities for growth in the MENA region” Shobin Mathew Simon, Head of Institutional Sales MENA at MAS Markets, said: “I am excited to join MAS Markets at this pivotal time. My goal is to strengthen our relationships with institutional clients by providing exceptional service and value, ultimately positioning MAS Markets as a leading partner in the industry. I look forward to working with the team to unlock new opportunities for growth in the MENA region.” Simon Blackledge, CEO of MAS Markets, commented: “We are thrilled to welcome Shobin to the MAS Markets team. His expertise in the MENA region and his dedication to delivering value to institutional clients make him the ideal fit for this role. Shobin’s leadership will be instrumental in driving our growth strategy and strengthening our relationships in the region. We are confident that his contributions will enhance our presence and position us as a leading partner for institutions across MENA.”

The Australian Securities and Investments Commission has suspended the Australian Financial Services (AFS) Licence of Olritz Financial Group Pty Ltd. Olrtiz, which held AFS license number 244539 since 27 February 2004, was authorized to deal in financial products, provide financial advice, and custodial or depository services to wholesale clients. Olritz claims $150 million AUM, ASIC says no business The financial watchdog has suspended the license because Olritz has not carried on a financial services business since May 2023. The firm may apply to the Administrative Appeals Tribunal for a review of ASIC’s decision. The suspension of the AFS license is expected to last until 5 March 2025. Last year, Olritz announced it would be applying for a digital asset license once Australia rolls out its digital asset licensing framework. The company was displayed in New York City’s Times Square with the billboard featuring Sean Chin MQ, hedge fund manager and founder of Orlitz, as part of the firm’s strategic expansion. According to the firm, Olritz has successfully managed assets worth $150 million USD. ASIC, however, claims Orlitz hasn’t done business since May 2023. Olritz’s website says the firm began as a trading platform and investment brokerage firm that evolved into a one-stop provider of innovative financial solutions licensed in Australia. The company claims to have strategic partners across Malaysia, Singapore, Hong Kong, and Indonesia.

Naqdi Securities and currencies brokers LLC has secured a Securities and Commodities Authority (SCA) license in the United Arab Emirates. The UAE-based financial services provider aims to become a leading player in the region’s industry and the SCA license will allow Naqdi to provide a compliant offering for the modern trader in the MENA region. Naqdi has SCA-licensed offering for retail and institutional clients Zia Ur Rehman, CEO of Naqdi Securities and currencies brokers LLC, said: “We are thrilled to receive the SCA license, which reflects our dedication to providing a secure, transparent, and innovative trading platform for our clients in the UAE and beyond. This milestone is a testament to our commitment to upholding the highest standards of regulatory compliance and client satisfaction. We believe that this license will further strengthen our relationship with our clients and partners, ensuring that Naqdi remains at the forefront of the industry.” The SCA license requires all licensed entities to adhere to the highest standards of financial practice and governance in the UAE, thus making Naqdi a trustworthy and reliable trading partner with an enhanced ability to offer a secure and transparent trading environment for its clients. Naqdi plans to expand its offerings in the UAE, including an enhanced suite of trading products and services that cater to both retail and institutional clients. The CAT-5 SCA license (#20200000150) enables Naqdi Securities and currencies brokers LLC. to operate within the UAE’s highly regulated financial landscape, allowing clients to trade with greater confidence, knowing that they are engaging with a licensed and regulated entity committed to safeguarding their interests.

XBTO has received in-principle approval (IPA) from Abu Dhabi’s Financial Services Regulatory Authority (FSRA) to operate in the UAE. The digital assets finance management firm which offers crypto services for non-US-based institutional investors will continue to operate from its existing offices in Bermuda, London, and Paris, besides the new office in Abu Dhabi. XBTO to leverage future FSRA license to better serve Middle East markets XBTO will leverage its Abu Dhabi presence to better serve the Middle East, one of the most crypto-friendly regions in the world today at a time of great debate over the role of digital assets in the economy and the systemic risks arising from the adoption of crypto. The firm said it chose ADGM for its expansion because the FSRA is one of the first regulators globally to introduce and implement a comprehensive and bespoke regulatory framework for the regulation of exchanges, custodians, brokers, and other intermediaries engaged in virtual asset activities. Abu Dhabi is rapidly attracting its target segment of clients including family offices, traditional and crypto native macro hedge funds, high net worth individuals, blockchain protocols, VC funds, brokerages and more. In line with its long-term commitment to the UAE and regulatory frameworks, and subject to the regulatory approval for the grant of the FSP, the company plans on making further investments to invest in its presence in the UAE. XBTO was recently selected by Hub71 Digital Asset program earlier this year. “We believe the UAE has the potential to become the global hub for digital asset businesses worldwide” Philippe Bekhazi, Founder & CEO, XBTO said: “Receiving an In Principle Approval is a significant step forward for XBTO in establishing a strong presence in the rapidly growing Gulf region. We believe the UAE has the potential to become the global hub for digital asset businesses worldwide, so it is important that XBTO as one of the world’s leading digital assets companies has a foothold here. I’m excited to see this area of the business develop in the coming months and years.” Karl Naïm, Global Head of Business Development & General Manager XBTO Middle East, commented: “This is an exciting time for digital assets, the UAE and surrounding countries. There is strong interest in the growth of the sector here. XBTO is working with organizations across the region and we look forward to working hand in hand with the regulator, decision makers and institutions to help build a thriving and leading digital assets ecosystem from Abu Dhabi.” XBTO launched OTC trading desk for customized order execution XBTO recently launched its ProTrading platform following the acquisition of Stablehouse. The platform is intended to serve financial institutions and high-net-worth individuals, offering an institutional-grade trading environment that addresses several bottlenecks in the digital asset trading space. The company built ProTrading to streamline execution and focus on robust asset protection, thereby bridging the gap between traditional finance and decentralized finance (DeFi). Two of the most pressing issues faced by both individual and institutional investors—inefficient trade execution and varying levels of risk—are directly addressed by XBTO ProTrading. The platform leverages Talos technology for its user interface and features a Smart Order Router along with a comprehensive counterparty network to tackle the inefficiencies in trade execution. XBTO ProTrading includes the XBTO Trader UI and a ProTrading access account integrated with Stablehouse, all hosted within the XBTO-Stablehouse Custody platform. This offering marks a well-rounded solution for users concerned with both execution and asset protection. Moreover, the platform provides a high-touch service environment, including features like a dedicated Relationship Manager and an Over-The-Counter (OTC) Trading Desk for customized order execution. The acquired crypto custodian Stablehouse is licensed as a digital asset business by the Bermuda Monetary Authority. This regulatory oversight adds an additional layer of credibility and assurance to the services offered by XBTO ProTrading. With the acquisition, the broad range of digital asset services provided by XBTO will now include everything from custody and institutional trading, to asset management, and designated market making.

Standard Chartered has gone live with digital asset custody services in the United Arab Emirates, a country found to have a “well-balanced approach to digital asset adoption and financial regulation,” according to the financial services firm. Brevan Howard Digital, the crypto and digital asset division of the British hedge fund, was onboarded as Standard Chartered’s inaugural client in the jurisdiction. Bitcoin and Ethereum first, but more to come The digital asset custody offering has been granted a license by the Dubai Financial Services Authority (DFSA) within the Dubai International Financial Centre (DIFC). The service enables clients to safekeep their digital assets and initially supports the custody of Bitcoin and Ethereum. Standard Chartered plans to broaden its scope in the coming months to encompass a wider range of digital assets and is actively exploring opportunities to extend its custody services to other key financial hubs in its footprint markets, the bank said. The launch of crypto custody services in the UAE follows Standard Chartered heightened role within the digital asset space as it launches a spot crypto trading desk, issues Ether ETFs, participates in China’s digital yuan trials, launches a tokenization platform in Singapore, and launches crypto custody in Hong Kong via Zodia. “It is a game changer for institutional clients” Bill Winters, Group Chief Executive of Standard Chartered Bank said: “The launch of our digital asset custody offering represents a pivotal moment not just for Standard Chartered, but for the financial services industry. We firmly believe that digital assets are not merely a passing trend, but a fundamental shift in the fabric of finance. With this new service, we are strategically positioning ourselves at the forefront of this next evolution in the custody business. Our robust infrastructure, coupled with our expertise in the field allows us to provide a bridge between the world of financial services and the emerging digital asset ecosystem.” Margaret Harwood-Jones, Global Head of Financing & Securities Services said: “After a period of intensive work and close collaboration with regulators both regionally and globally, we are thrilled to welcome Brevan Howard Digital as the first client of our digital asset custody offering. This announcement demonstrates the growing institutional interest in digital assets and the critical need for secure, regulated custody solutions. Our offering goes beyond simple wallet services – it is a comprehensive solution that addresses the unique challenges of digital asset custody from a regulatory, risk and prudential point of view. It is a game changer for institutional clients, as we can support them with our traditional expertise to navigate the complexities of the digital asset space, without compromising on the highest standards of security.” Gautam Sharma, Chief Executive Officer of Brevan Howard Digital said: “This is a significant win for the UAE and the wider digital asset industry. Standard Chartered’s global reputation and demonstrated commitment to this space adds a layer of credibility that is meaningful for institutional adoption. The development of the institutional infrastructure within the asset class and region supports our established business within the ADGM in its continued expansion and our ongoing efforts toward improving and reinforcing standards in the digital asset ecosystem.”

Financial technology firm tZERO Group Inc. has received approval from U.S. regulators to act as a special purpose broker-dealer for digital asset securities custody, becoming the second firm to obtain such a license. The Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) approved tZERO’s application to custody digital assets, the company announced on Tuesday. “We are at the forefront of regulatory innovation in the U.S. as one of only two broker-dealers authorized by regulators to custody digital asset securities,” said Alan Konevsky, executive vice president and chief legal & corporate affairs officer of tZERO. Konevsky added that the firm plans to use this opportunity to show how regulatory clarity can foster innovation and commercialization across various asset types. tZERO’s approval follows that of digital asset firm Prometheum, which was granted a similar license by the SEC last year and later by FINRA to offer clearing and settlement services for digital asset securities. The crypto industry and the SEC have been in conflict over regulatory requirements for digital assets. The SEC has maintained that crypto exchanges must register with the agency and has taken enforcement action against firms like Coinbase, Binance, and Kraken for allegedly operating without proper registration. Crypto firms, however, argue that compliance with the current regulatory framework is unfeasible. Prometheum, the first firm to receive the special purpose broker-dealer license, has faced scrutiny from the Blockchain Association and Republican lawmakers, who accused it of receiving a “sweetheart deal” with the SEC. Both FINRA and the SEC declined to comment on the matter. tZERO has been quickly shoring up its offerings with more altcoins. While 2020 marked the launch of its platform and a gradual embrace of crypto products, the latest expansions have been fueled by consistent demand for more diverse options. tZERO’s broker-dealer subsidiary, tZERO Markets, offers crypto sales, trading, electronic execution, and portfolio execution for buy- and sell-side clients. tZero’s retail brokerage service, which is also registered with the Securities and Exchange Commission (SEC), allows the firm to grab the capacity to serve individual traders instead of only accredited investors. Additionally, it provides token issuers with investment banking and placement agent services in connection with capital raising activities.  

DogWifHat, one of the most popular Solana-based memecoins, has experienced an 8% rally in the past 24 hours following weeks of trading lower. The memecoin offers very little utility, but the community has developed an impressive marketing network that has allowed the token to grow its market capitalization to well above $1.5 billion. Other memecoins have not posted comparable gains. Brett and Popcat have rallied by a modest 4%, while the biggest memecoins, such as SHIB, PEPE, and DOGE, have posted minimal returns. It’s not clear if DogWifHat is now going to move higher or continue its downtrend. As a memecoin, its value is highly speculative and, therefore, considered a high-risk play. Memecoins haven’t been the only crypto niche showing signs of growth during what has been a very bearish month. The Infinaeon presale has been heating up. Thanks to the project’s unique layer-2 scaling solutions and deflationary tokenomics structure, traders have been flocking to the presale. This article will delve into the recent DogWifHat price predictions and provide an overview of the project. It will also explore the Infinaeon presale and explain why it has been attracting so much attention during a bearish market period. DogWifHat Price Recovers Above $1.50 DogWifHat’s market capitalization has crashed from $2.6 billion to as low as $1.5 billion in the past three months. As is often the case with memecoins, this Solana-based token experienced a massive surge during DEX and CEX listings and then began to drop. DogWifHat is a memecoin built on the Solana blockchain. It gained popularity due to its unique identity, featuring a Shiba Inu puppy wearing a pink hat, and its thriving online community. Despite lacking any known utility, DogWifHat quickly became one of the top-performing memecoins in 2024, reaching a multi-billion dollar market capitalization. Despite struggling for several months, the DogWifHat price has recovered by over 8% in the past 24 hours. This added nearly $200 million to its market capitalization, suggesting that despite trading well below its all-time high, DogWifHat still has some potential. DogWifHat Price Predictions The DogWifHat price predictions are a mixed bag. Let’s check out a few of them:  Benzinga has issued a DogWifHat price prediction that sees the token rallying 24% in 2025.  Changelly’s price prediction for DogWifHat is a 14% rise in 2025. CoinCodex has issued a mixed DogWifHat price prediction that suggests extreme volatility in the coming year. Infinaeon Layer-2 Solution Set To Shake Up Crypto Market The Infinaeon layer-2 solution has generated a serious amount of hype in the DeFi and crypto trading community. It offers a range of new solutions designed to enhance Ethereum’s scalability while giving token holders the best chance of earning positive returns on their holdings. At its core, Infinaeon leverages a unique gas fee allocation mechanism that sets it apart from traditional Layer-2 solutions. Instead of treating gas fees as a mere cost, Infinaeon redirects a portion of these fees to buy back and burn its native token, creating scarcity and supporting its value. This deflationary model ensures that as the network grows and activity increases, the value of existing tokens also rises. Another key feature that distinguishes Infinaeon is its auto-compounding staking mechanism. By staking their tokens, holders can earn rewards that are automatically reinvested, leading to exponential growth over time. This encourages long-term participation in the ecosystem and provides a source of rewards for token holders. Beyond its innovative features, Infinaeon’s focus on addressing Ethereum’s scaling challenges positions it as a crucial player in DeFi’s future. Its ability to provide faster, cheaper, and more efficient transactions could unlock new possibilities for decentralized applications and smart contracts. The Infinaeon token burn mechanism has led to considerable hype among crypto traders and presale investors. Infinaeon Token Presale: Crypto Traders Rush To Get In Early The Infinaeon token presale has given crypto traders the opportunity to add the token to their portfolios at the lowest possible price point. Many experts and KOLs appear to be convinced that Infinaeon has the potential to disrupt the layer-2 market and possibly take on the current leaders like ARB and OP, which provided massive returns for early presale investors. Join The Infinaeon Presale Now Presale: https://presale.infinaeon.com/  Telegram: https://t.me/Infinaeon/  Discord: https://discord.com/invite/WSy65uAYfd  X: https://x.com/Infinaeon  The subject matter and the content of this article are solely the views of the author. 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Banxso has signed a two-year partnership deal with Queens Park Rangers as online trading platforms increasingly leverage sports sponsorships as a marketing tool to strengthen their brand and accelerate client onboarding. Queens Park Rangers Football Club, commonly abbreviated to QPR, is a professional association football club based in Shepherd’s Bush, West London, England. The team competes in the EFL Championship, the second level of the English football league system. The South African FX and CFD broker will be sharing updates and showcasing its support on its social media platforms as part of its mission to inspire and empower individuals to pursue their passions. Banxso sponsors QPR, Bafana Bafana, and UFC champ Dricus du Plessis Manuel de Andrade, COO of Banxso, said: “We are excited to welcome Queens Park Rangers to the Banxso family of athletes along with Bafana Bafana and UFC World Champ, Dricus du Plessis. Their dedication and determination mirror our values of innovation and excellence. We backed DDP to retain his title in Perth and are delighted to be welcoming him back home with his championship belt. QPR have taken a couple of knocks to start the new season and we know they’ll come back strongly to feature in the Championship.” Neil Sayer, Business Development Manager at Queens Park Rangers, commented: “We are delighted to join forces with Banxso. Their support will be instrumental in helping us achieve our goals and continue to grow as a club. We look forward to a successful collaboration that benefits both our players and our fans.” Authorized by the South African Financial Sector Conduct Authority (FSCA) with license number 37699, Banxso offers access to exposure to financial markets via CFD products, covering cryptocurrencies, indices, stocks, commodities, and forex. Banxso’s recent moves: 3 licenses, Trading Central, 8.7% rate Earlier this year, Banxso made a series of announcements, highlighting its strong commitment to innovation and security. The broker last week launched an 8.7% interest rate on deposits for its clients in South Africa in a move that addresses the high-interest rates climate which can channel users to deposit their money on the broker. Prior to that, Banxso partnered with Trading Central to integrate its live trading signals and make institutional-grade research accessible to retail investors. This partnership came on the heels of Banxso’s successful acquisition of licenses in Australia, Mauritius, and Vanuatu, marking a significant expansion in their global operations. These licenses are pivotal in Banxso’s strategy to broaden its reach and provide comprehensive financial products and services across various regions.

Ctrl Wallet announces a new liquidity initiative and key updates to its $XDEFI token, highlighting the strong commitment of major stakeholders and future plans for tokenomics. Ctrl Wallet, a prominent self-custody crypto wallet supporting over 2,100 blockchains, has launched a new liquidity initiative involving its $XDEFI utility token. This initiative reflects the long-term commitment of the wallet’s key stakeholders and introduces important changes to its tokenomics. Key $XDEFI token holders, including Ctrl Wallet’s largest investors such as Delphi Digital, Mechanism Capital, Morningstar Ventures, the two co-founders, and the company’s treasury, have agreed to a 12-month liquidity provision. This involves depositing 32% of the total $XDEFI supply—equivalent to 50% of the current circulating supply—into AMM liquidity pools on Uniswap. This year-long commitment aims to enhance liquidity and stabilize the market by reducing potential sell pressure. In total, these stakeholders will deposit 76.9 million $XDEFI tokens, both liquid and circulating, into the pools until September 2025. “This initiative demonstrates the unwavering belief we have in Ctrl’s potential,” said Emile Dubié, CEO of Ctrl Wallet. “By committing such a significant portion of tokens to liquidity provision, we are not only supporting the token’s stability but also laying the groundwork for future growth.” The liquidity commitment includes milestone-based withdrawal options starting after an initial six-month period. Withdrawals are allowed in quarters based on $XDEFI’s fully diluted valuation (FDV): the first quarter at US$100M FDV, the next at US$200M, another at US$300M, and the final quarter when $XDEFI reaches US$500M FDV. To encourage stakeholders to maintain liquidity as these milestones are reached, contributors (excluding the project treasury) will earn a 10% annual percentage yield (APY) on their deposited tokens. This liquidity commitment comes ahead of Ctrl Wallet’s upcoming migration from $XDEFI to $CTRL in the coming weeks. As part of this rebranding, the platform will adopt a buy-and-burn model, with 75% of all revenue generated by Ctrl Wallet used to buy $CTRL tokens on the open market for burning.  Ctrl Wallet is also rolling out new features that are expected to drive platform usage and revenue. These include in-wallet quests, a launchpad, and enhanced Gas Tank functionality. The new features are designed to benefit $CTRL token holders directly through the buy-and-burn mechanism. Ctrl Wallet has recently seen significant growth, reaching 400,000 weekly active users (WAU), doubling its user base in the most recent quarter. For more information, visit Ctrl Wallet’s official website.  About Ctrl Wallet Ctrl Wallet is a self-custody Web3 wallet designed to support more blockchains, cryptocurrencies, and NFTs than any other wallet on the market. Built to empower DeFi users of all levels, Ctrl Wallet combines advanced security features with an intuitive and user-friendly interface, providing a seamless multi-chain experience that meets the needs of both new and experienced users.