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

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

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

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

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

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

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

The UK’s Insolvency Service has appointed its first dedicated crypto intelligence specialist in response to a sharp rise in bankruptcy and criminal cases involving digital assets such as Bitcoin and Ethereum. The move comes as the agency reports a 420% increase in insolvency cases where crypto is identified as a recoverable asset.Andrew Small, a former police investigator with a background in economic crime, will take on the new role within the agency’s Investigation and Enforcement Services team. His work will focus on helping the Insolvency Service trace, assess, and recover crypto holdings from individuals and companies subject to insolvency proceedings.Crypto Recoveries on the RiseFigures from the Insolvency Service show the scale of the issue. In the 2024/25 financial year, the agency identified £523,580 in crypto assets across 59 insolvency cases. That compares to just £1,436 across 14 cases in 2019/20."There has been a rapid rise in crypto ownership in the UK, and alongside that, we’ve seen a similar rise in crypto asset ownership in bankruptcy cases," commented Small."The Insolvency Service has a duty to trace and recover money and assets from individuals or companies in insolvency cases, and we work to return as much money owed to creditors as possible."You may also find interesting: Trading Technologies Enables Access to UK Crypto Derivatives Exchange GFO-XThe agency noted that the increased recovery of crypto assets will support its efforts to return more money to creditors. The appointment also reflects the wider adoption of digital assets in the UK. According to research by the Financial Conduct Authority, around 7 million UK adults, 12% of the population, held some form of crypto in 2024. That’s up from 3.2 million in 2021.These holdings include mainstream cryptocurrencies like Bitcoin, Ethereum, and Litecoin, as well as digital tokens and non-fungible tokens.Criminal Cases Under ReviewWhile Small will support all insolvency proceedings involving crypto, his role will focus heavily on criminal cases, where digital assets are often used to hide or move funds."Crypto is very much a recoverable asset, and my role will help the agency by providing specialist knowledge about the types of cryptoassets available and the associated technology used to buy, sell and store them." This article was written by Jared Kirui at www.financemagnates.com.

Octa, a globally recognised broker since 2011, will release its new status program for all regions in the third quarter of 2025. The broker built a new flexible framework to reward its clients for loyalty and trading activity, offering a wide range of bonuses, benefits, and gifts while introducing new mechanics and a clear-cut, systematic approach to client loyalty recognition.Octa's new rewards programOcta strives to push the industry benchmarks in terms of creating additional value for clients. With that in mind, the broker deploys a new iteration of its old-and-tested rewards program across all regions. By developing a high-incentive status program within its trading ecosystem, Octa aims to double down on providing favourable conditions for its most active and long-standing clients. Octa's multifaceted rewards program will be regularly updated to offer the broker's clients new challenges, prizes, and opportunities. It will grant advanced privileges to the most dedicated traders while maintaining appealing incentives for emerging ones. In its current, full-fledged form, the program includes the status-based benefits system, the Trade and Win gift collection, and a selection of trading-focused challenges for engaged and passionate clients who look to expand their trading experience.The status systemAttributing one of four statuses—Bronze, Silver, Gold, or Platinum—to each client, Octa's reward system focuses explicitly on fairness and transparency, with a clear and simple threshold requirement for each status. Statuses are automatically upgraded once the client's trading activity reaches a required volume. By trading more lots and gaining more experience points, Octa's clients climb the status ladder, receiving additional benefits with each earned status. The benefits include access to gifts, lifestyle services, or trading bonuses. Trading conditions also become exponentially more advantageous as a client's status grows. At the top of the status ladder, the platinum privilege package includes premium support, priority perks, and monthly rewards.Trade and WinFor all Octa clients, each traded lot automatically becomes a prize lot, which can be used as internal currency and exchanged for various prizes from the extensive Octa Trade and Win collection. The status system plays into this, too, as higher status clients receive a wider array of gift options. With Trade and Win, Octa's clients can derive additional value from their trading and get even more incentives to achieve better outcomes.The challenge systemThe trading challenges within Octa's rewards framework cater to goal-driven traders seeking to maximise the competitive aspect of their trading journey. By participating in various time-limited challenges, Octa's clients get a chance to win money prizes, prize lots, exclusive gifts, and advantageous trading conditions. Octa's challenges motivate traders to boost their skills and challenge their expertise in new ways.ConclusionTo sum up, the new Octa Rewards program leaves no effort unnoticed by offering traders a wide range of advantages. Through this program, Octa's clients can do the following:● gain one of four statuses, each with its own set of privileges ● accumulate experience points to level up their status● enjoy better trading conditions, including lower spreads, as one of the higher status benefits● exchange prize lots for gifts, including electronic gadgets, premium accessories, subscriptions, and gift cards● participate in challenges by completing the time-limited tasks and receiving special rewards.Disclaimer: This article does not contain or constitute investment advice or recommendations and does not consider your investment objectives, financial situation, or needs. Any actions taken based on this content are at your sole discretion and risk, and we and Octa do not accept any liability for any resulting losses or consequences.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 various 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 improving educational infrastructure and funding short-notice relief projects to support local communities.Since its foundation, Octa has won more than 100 awards, including the 'Most Reliable Broker Global 2024' award from Global Forex Awards and the 'Best Mobile Trading Platform 2024' award from Global Brand Magazine. This article was written by FM Contributors at www.financemagnates.com.

Trading Technologies has enabled client access to GFO-X, the UK’s regulated and centrally cleared digital asset derivatives exchange, following the platform’s official launch.GFO-X opened trading on May 9 with Bitcoin index futures and options, marking a key milestone in the development of institutional crypto infrastructure in the UK. Targeting Institutional UsersThe exchange specifically targets institutional users and operates under a regulated framework with central clearing. According to the companies, Trading Technologies, which facilitates billions of derivatives transactions annually, has now integrated its global platform with GFO-X. “We're delighted to offer our clients access to GFO-X to support demand for centrally cleared cryptocurrency trading,” said Alun Green, EVP Managing Director for Futures & Options at TT. “With the relaxation of the U.S. regulatory market, there is increased global interest among our institutional clients for access to digital assets.”Read more: Profit Jump Couldn't Save CMC Markets from 18% Share Price BloodbathThe integrated platform reportedly allows institutional clients to trade the new contracts using TT’s full suite of execution and analytics tools.Using TT's Execution and Analytics ToolsGFO-X CEO Arnab Sen welcomed the integration: “Trading Technologies’ robust architecture and global connectivity align perfectly with GFO-X’s mission to deliver high-performance, institutional-grade access to digital asset derivatives. This integration enables market participants to leverage TT’s advanced execution capabilities on a fully regulated and centrally cleared venue.”The launch of GFO-X comes amid rising demand from institutional investors for secure and compliant access to crypto derivatives. The UK-based venue aims to provide liquidity and transparency in a market still largely fragmented and dominated by unregulated platforms.Bowmoor Capital, a London-based investment firm, and SummerHaven Investment Management, a Connecticut investment firm, are two other companies that recently integrated Trading Technologies' futures transaction cost analysis platform, a tool designed to deliver insight into trade performance and execution efficiency.“It's great to see Bowmoor and SummerHaven applying these important analytical tools to their highly sophisticated trading and algo strategies, as well as to report to their clients how they are keeping costs low to maximize their returns,” said Peter Weiler, the EVP Managing Director, Data & Analytics at TT. This article was written by Jared Kirui at www.financemagnates.com.

CMC Markets (LSE: CMCX) shares tumbled 18% last week following the release of annual results that showed significant profit growth but failed to meet analyst expectations. A massive downward gap on the chart, the largest since August 2021, has pushed the share price of the company offering retail trading services to a two-month low.CMC Markets Shares Plunge 18% Despite Profit Growth as Earnings Miss ExpectationsThe London-listed financial services company reported profit before tax of £84.5 million for the year ended March 31, 2025, representing a 33% increase from the previous year but falling short of the consensus estimate of £90.6 million. Earnings per share reached 22.6 pence, up from 16.7 pence but below the anticipated 24 pence.Net operating income rose 2% to £340.1 million, marginally exceeding the company-compiled consensus of £339.2 million. The firm's underlying EBITDA climbed 12% year-on-year to £103.4 million, while the profit margin expanded to 24.8% from 19.0% in the prior year.“While the P&L figures were below consensus, the improvement on FY24 is marked,” Jefferies analysts noted in a post-earnings assessment.Why Is CMC Markets Share Price Down?As shown in the chart below, the share price of CMC Markets on the London Stock Exchange had been rising sharply from its April lows. However, on Thursday, June 5, the stock dropped nearly 18% following the release of earnings, falling briefly to 230.5 pence, a two-month low.At the start of this week, on Monday, June 9, 2025, CMCX shares were down more than 2%, trading at 241.5 pence. Despite the recent correction, the stock has still gained over 30% from its April lows, having previously rallied around 60% to reach its June peak.On a year-to-date basis, however, the stock remains in negative territory, with the company down just under 2% since the beginning of 2025. For comparison, the FTSE 100 index of British companies has risen more than 8% over the same period.Meanwhile, another publicly listed retail broker on the London market, Plus500, has gained 28% year to date. Its shares have climbed to fresh all-time highs in recent weeks, currently trading at 3,490 pence.Mixed PerformanceThe mixed performance reflected challenges in CMC's core trading business, where direct-to-consumer revenue declined 12% to £149.1 million, partially offset by a 12% increase in platform-as-a-service revenue to £99.8 million. The company's investing segment demonstrated stronger momentum, with net revenue jumping 31% to £44.4 million, driven primarily by growth in Australia where CMC ranks as the second-largest stockbroker.Interest income provided a bright spot, surging 21% to £42.5 million as the company benefited from higher client balances and improved treasury management. Total revenue remained flat at £360.1 million, with trading and investing revenue declining slightly to £313.3 million from £320.1 million.Operating expenses decreased 2% to £250.0 million, though this included a one-time £4.3 million charge for customer remediation in Australia following an industry-wide regulatory review. The company maintained cost discipline while continuing to invest in technology and platform enhancements.You may also like: CMC Invest Revamps Pricing Structure, Free Trades More Than DoubleDividend and Board ChangesThe company announced a final dividend of 8.3 pence per share, bringing the full-year payout to 11.4 pence, representing a 37% increase and maintaining its policy of distributing 50% of after-tax profits to shareholders.The results coincided with significant board changes. Deputy CEO David Fineberg and Australia-New Zealand head Matthew Lewis will step down from the board after the 2025 annual general meeting to focus on operational roles. Laurence Booth joined as Global Head of Capital Markets, while Senior Independent Director Paul Wainscott will succeed James Richards as chairman. This article was written by Damian Chmiel at www.financemagnates.com.

The Blockchain Group, a French company listed on Euronext Growth (ALTBG), plans to raise up to €300 million to buy Bitcoin. The company announced the launch of a new share issuance program to fund the purchases.The offering will use an "at-the-market" (ATM) structure. This means shares will be issued gradually, with the sale price based on the market price each day. French asset manager TOBAM is backing the program. It will act as the financial intermediary, buying shares directly on the market.Company Seeks €500M Bitcoin IssuanceThe Blockchain Group said all funds raised will be used to buy Bitcoin. The company wants to increase the amount of Bitcoin it holds per share. It believes this strategy will attract investors interested in Bitcoin exposure through a public company.JUST IN: ?? French company The Blockchain Group to raise €300 Million to buy more #Bitcoin pic.twitter.com/xyc0SYIgac— Bitcoin Magazine (@BitcoinMagazine) June 9, 2025The company’s shareholders had approved a similar plan in February, allowing the company to issue shares worth up to €300 million. A vote scheduled for June 10 may extend the limit to €500 million.You may find it interesting at FinanceMagnates.com: Metaplanet Hits 8,888 BTC, Overtakes Jack Dorsey’s Block.Bitcoin Holds $100K Despite Musk-Trump DisputeSimon Peters, crypto analyst at eToro, noted that Bitcoin recently remained just above the $100,000 mark amid ongoing market fluctuations. He highlighted that last week, Bitcoin’s price fell nearly 4% following an online dispute between Elon Musk and former President Trump, before recovering to around $100,400. As news of a possible reconciliation between the two spread, Bitcoin rebounded to approximately $105,500. Peters said, “Bitcoin narrowly stayed above the $100,000 level as the online spat between Elon Musk and President Trump spilled over from traditional markets.”Peters added that Friday’s stronger-than-expected U.S. non-farm payrolls report supported Bitcoin’s recent gains. Looking ahead, he said upcoming inflation data, including the consumer price index (CPI) and producer price index (PPI), could cause increased volatility in the market. “Inflation data in the form of CPI and PPI could provide some volatility,” he said. This article was written by Tareq Sikder at www.financemagnates.com.

In December 2021, JPMorgan paid $200 million in fines for failing to monitor employee communications on unauthorized channels like WhatsApp and iMessage. At first, it looked like a high-profile anomaly. But by 2023, that fine had sparked a $1.8 billion enforcement wave across 16 major financial firms.These penalties weren’t just about tech misuse—they revealed a broader failure to monitor informal communications in regulated environments. What began as a crackdown on messaging apps became a reckoning for firms that had overlooked long-standing recordkeeping rules.Beyond WhatsApp: The Behavior Behind the BreachThe issue wasn’t the tools, but the behaviors. For years, firms focused compliance on emails and formal channels, dismissing chat apps and personal devices as outside regulatory scope. The SEC disagreed. This was a systemic blind spot, not a tech glitch.The fines were just a cost of doing business:They paid $920 million in penalties.Sounds huge, right?For a bank making billions in profit, it was pocket change.But the system was working exactly as designed: pic.twitter.com/aZs2Hoo16t— Neal Taparia (@nealtaparia) December 2, 2024The rules hadn’t changed—only their enforcement had. Informal messages, once seen as harmless, were in fact business communications that went unrecorded and unmonitored.The Cost of Misreading DeregulationBetween 2017 and 2020, a lighter regulatory tone lulled many firms into reducing compliance efforts. But the SEC’s crackdown revealed the dangers of mistaking reduced enforcement for reduced responsibility.Periods of deregulation offer a false sense of security. As history has shown—from the mortgage crisis to the Wells Fargo scandal—regulators may step back, but they don’t forget. When they return, they act decisively, often retroactively.U.S. regulators on Tuesday announced a combined $549 million in penalties against Wall Street firms that failed to maintain electronic records of employee communications. The firms admitted that from at least 2019, employees used side channels like WhatsApp to discuss company… pic.twitter.com/oTNkzurDec— Kat Stryker (@KatStryker111) August 9, 2023Retroactive Fines: A Regulatory Time MachineThe most startling part of the SEC’s action was how far back it reached. Many violations dated as far back as 2018, years before the JPMorgan case brought these issues to light. Regulators used past communications to enforce old rules—proving they don’t need to catch firms in real-time to penalize them.Even under new leadership in 2025, with Paul Atkins as SEC Chair, firms found no leniency. Sixteen appealed to reduce their fines; none succeeded. The message: mobile compliance isn’t political—it’s permanent.You may find it interesting at FinanceMagnates.com: When a “Smile” Means More Than You Think: Emojis and Compliance Risks.What Smart Firms Are Doing NowSome firms took the 2021 fines as a warning and acted early. Here’s what they’re doing now:End-to-end capture: Deploying audit-ready systems that record all relevant communication, from emails to mobile messaging to emerging platforms like TikTok.Clear communication policies: Establishing and enforcing guidelines on informal messaging channels, with comprehensive training for staff.Internal transparency: Encouraging teams to escalate compliance risks internally before they become public scandals.Future-proofing technology: Using quieter enforcement periods to upgrade systems, replace outdated tools, and invest in scalable, compliant communication solutions.These firms understand that compliance is about resilience—not just avoiding penalties.BREAKINGThe SEC announced charges against 16 Wall Street firms for widespread and longstanding failures to maintain and preserve electronic communications. The firms agreed to pay combined penalties of more than $1.1 billion.List includes: $MS, $GS, $CS, $C and more below. pic.twitter.com/hTEmDEA37V— unusual_whales (@unusual_whales) September 27, 2022Fairness or Strategy?Some critics argue the penalties weren’t evenly applied. Why did some firms pay more than others for the same mistake?It’s a fair question, but regulators aren’t chasing fairness. They’re setting standards. Firms that self-disclosed, cooperated, or acted early received better outcomes. That’s not favoritism—it’s the SEC’s playbook for building a culture of proactive compliance.The Deregulation FallacyUltimately, the messaging probe revealed a dangerous belief: that silence from regulators means safety. In reality, that’s when risks quietly accumulate. Deregulation may soften tone, but it doesn’t erase the rules—or the consequences of ignoring them.From JPMorgan’s $200 million fine to the industry’s $1.8 billion reckoning, the lesson is clear: compliance doesn’t wait for enforcement. And with retroactive penalties now the norm, today’s oversight gaps could become tomorrow’s billion-dollar failures. This article was written by David Clee at www.financemagnates.com.

The Finance Magnates Africa Summit 2025 (FMAS:25), held at Cape Town’s International Convention Centre, brought together Africa’s trading community for two days of innovation and insight. As a Diamond Sponsor of the event, ATFX demonstrated its commitment to advancing financial access and education across the continent. The event was attended by ATFX Chairman Joe Li, highlighting the company’s senior leadership engagement in Africa’s growing trading markets. Through expert panels, workshops, and live demonstrations, ATFX showcased its dedication to expanding and innovating within Africa’s dynamic trading market.   ATFX leadership played a key role across several FMAS:25 panels. Linton White, Regional Head of ATFX Africa, joined the “Leaders Roundtable: Trading Industry in Motion” to discuss South Africa’s trading landscape and the importance of FSCA licensing, education, and transparency. Hormoz Faryar, Managing Director of Institutional Sales at ATFX MENA, shared insights on geopolitical risks and how ATFX Connect enhances market access with institutional-grade liquidity. Chief Commercial Officer of ATFX, Siju Daniel, took part in “Prop Trading is Here to Eat Your Lunch!” highlighting the growth of funded accounts in Africa and ATFX’s tech-driven, strategy-focused support for traders. Building on these discussions, Siju Daniel and Linton White were also interviewed by Finance Magnates at FMAS, where they shared further strategic insights on the evolution of Africa’s trading landscape.  ATFX also hosted its own exclusive panel, “Trading Psychology vs Strategy,” featuringHormoz Faryar, Linton White, Gavin Hendrikse, Sales Manager at ATFX Africa, and Caleb Martin, Sales Manager at ATFX Africa. The session explored how mindset and disciplined execution influence trading success, reinforcing ATFX’s commitment to trader education and long-term resilience. Additionally, ATFX Market Analyst Francois du Plessis joined the “Gold & Oil in 2025” panel to examine key drivers of volatility and investment opportunities in the global commodities landscape.  Capping off its successful presence, ATFX was honoured with the “Best FX Broker – Africa” award, a recognition of the company’s leadership in service quality, innovation, and regional impact.   ATFX’s presence at FMAS:25 marked a key milestone in its regional journey, reinforcing its FSCA-regulated commitment to client safety and unveiling new platform innovations. The event also reaffirmed the company’s mission to promote financial literacy and empower traders across Africa. As it looks to the future, ATFX remains focused on expanding educational access, advancing digital trading tools, and driving sustainable growth through real-time analytics, faster execution, and intuitive platforms to ensure traders in Africa are equipped for long-term success in an evolving market landscape.  About ATFXATFX is a leading global fintech broker with a local presence in 24 locations and holds 9 licenses from regulatory authorities, including the UK's FCA, Australia's ASIC, Cyprus' CySEC, the UAE's SCA, Hong Kong's SFC, South Africa's FSCA, Mauritius' FSC, Seychelles' FSA, and Cambodia's SERC. With a strong commitment to customer satisfaction, innovative technology, and strict regulatory compliance, ATFX delivers exceptional trading experiences to clients worldwide.For further information on ATFX, please visit ATFX website https://www.atfx.com. This article was written by FM Contributors at www.financemagnates.com.

IPOs send strong signals. Earning a place on a stock market index, which holds so much weight across the traditional finance sector, evidences your position as a successful, mainstream and compliant business. These are the signals crypto innovators want to send this year, and they’ll turn to IPOs to do so. In fact, soon, I believe we’ll see more crypto IPOs than ever before. Circle Sets the StageWe’re already seeing the trend set in. Major stablecoin issuer Circle has already listed on the NYSE recently, and others are gearing up to do the same. Ripple, Kraken and Consensys are among those who could be next in line.Historically, IPOs have remained a far-off prospect for many crypto players. Regulatory barriers halted progress for the coin issuers, exchanges and mining firms that keep the crypto machine moving. They made taking the final leap toward traditional stock markets far more difficult. As a result, many of the biggest industry names are absent from the most celebrated indexes. While Coinbase took its place on the Nasdaq in 2021, it did so via a Direct Public Offering and remains the only major crypto firm to have listed, until the latest listing of Circle.Read more: Circle Shares Soar 235% on First Day of NYSE Trading1/ Circle's IPO is a milestone not just for one company but for the whole crypto application layer."Apps" like Circle are now out-earning the very blockchains they're built on.Let's look at the top 20 revenue-generating crypto projects ? pic.twitter.com/O0CQKOWZM2— Kai Wu (@ckaiwu) June 5, 2025Regulation Is Easing UpBut all that is set to change. We’re seeing a new, far more positive approach to digital assets sweep across the States, and it’s smashing down the hurdles to IPO. Regulatory bodies are easing up on what has been, for many years, an intense and relentless pursuit of digital asset firms. Trump has appointed Paul Atkins, who is known to look upon cryptocurrencies favorably, as Chair of the SEC, and we have already seen significant changes implemented at the agency. For starters, it is now home to the crypto task force – a working group hoping to drive forward crypto regulation. The task force is speaking to industry figures to establish clearer processes and classification guidelines so that firms can innovate within transparent parameters.That means they’ll be able to grow with confidence – confidence that they can innovate without any blockers or regulatory hurdles.But it’s not just regulatory clarity firms are benefitting from. Regulators are also backing off pre-existing cases altogether.Since the start of 2025, the SEC has dropped a staggering number of cases, including one of its most prominent lawsuits against Ripple. The case raged on for four years but has now been abandoned, sending a strong message that the agency’s once-fierce glare has eased off. This positive regulatory environment is critical to crypto firms’ journeys toward the stock market. To float in the US, firms must file their registration statement with the SEC. The fact that it now won’t come down unnecessarily heavy-handedly on firms’ business models, risk factors and corporate governance is crucial.It doesn’t stop there: the SEC’s change of heart has been mirrored by other government bodies, with the Department of Justice choosing to disband its cryptocurrency crime unit. It all amounts to a regulatory reset that has unfolded since Trump stepped back into the White House. Regardless of your views on the President, there’s no doubt he has created a far more positive and productive environment for the crypto sector. And it’s all happening at the perfect time. Over the last five years, crypto’s institutional adoption has gained rapid momentum – and firms are in an even stronger position to list as a result.Institutions have Embraced CryptoOnce upon a time, digital assets were the ugly duckling of the financial world. They were shunned by many institutional investors who felt they were too much of an unknown, too risky and volatile to bring into their portfolios. But, as of January 2025, 86% of institutional investors had exposure to digital assets or planned to make digital asset allocations later in the year.From asset managers to hedge funds and family offices, TradFi has slowly moved towards its digital counterpart. This move has been driven by the SEC’s approval of spot Bitcoin and Ether ETFs, which came through in 2024 and marked a pivotal moment for cryptocurrencies. In their first year of trading, spot Bitcoin ETFs recorded massive net inflows of $36.2 billion – they have undoubtedly attracted some of the naysayers to the crypto market.Read more: US President Trump’s Social Media Firm to Launch a Bitcoin ETFWith the entrance of institutional investors, crypto firms have secured another vital piece of the IPO puzzle. They need buy-in from these investors to float, and they now have that in abundance. The three pivotal IPO components are finally in place: the need for crypto firms to send strong compliance signals, a more favorable regulatory environment and institutional investors’ approval.The door to IPOs has been shut for far too long, but trust me when I say it’s about to be flung open. We’ll see a crypto firm IPO rush in 2025 – Circle’s filing is just the beginning. This article was written by Fiorenzo Manganiello at www.financemagnates.com.

Lightspeed Financial has formed a partnership with Level2 to offer automated trading tools that require no programming knowledge, the companies announced today (Monday).The collaboration connects Level2's visual strategy-building platform with Lightspeed's recently released Connect API, allowing traders to create and deploy automated trading systems through a drag-and-drop interface. Lightspeed Financial Teams with Level2 for No-Code Trading PlatformThe partnership targets active traders who want to use systematic trading approaches without learning computer programming.Under the agreement, users can build trading strategies using Level2's visual tools, then execute them through Lightspeed's brokerage infrastructure. The platform includes backtesting capabilities that let traders evaluate their strategies against historical market data before deploying real capital.“We're proud to partner with Level2 to help traders take control of their strategies like never before,” said Tom Gibb, president and chief operating officer of Lightspeed Financial Services Group. “By combining our high-performance API with Level2's visual platform, we're eliminating complexity and unlocking a new era of accessible, data-driven trading.”Social Trading ComponentThe platform also incorporates social trading features, enabling users to share strategies with other traders and follow approaches developed by community members. This represents an expansion beyond traditional brokerage services into collaborative trading environments.Level2's system processes market data in real-time and can automatically execute trades based on predefined parameters set by users. The company positions its technology as making institutional-grade trading tools accessible to individual investors.“This partnership not only expands the capabilities available to our users but also underscores Lightspeed's dedication to delivering exceptional tools,” said Evan Berryman, senior vice president of strategic partnerships at Lightspeed Financial Services Group.Algos Reshape MarketThe timing reflects broader market trends, with algorithmic trading projected to grow from $2.53 billion in 2025 to $4.06 billion by 2032, representing a compound annual growth rate of 7.0%. Alternative research suggests even faster expansion, with the market potentially reaching $22.03 billion in 2025, up from $19.95 billion in 2024.Automation is changing the very nature of trading, removing much of the human error, emotional bias, and manual input that historically characterized financial decision-making. Today’s trading bots can scan and act on market signals across multiple exchanges simultaneously, executing thousands of trades in milliseconds. Tools once exclusive to hedge funds are now increasingly embedded in mainstream trading platforms, making algorithmic execution part of the retail landscape as well. This article was written by Damian Chmiel at www.financemagnates.com.

The UK’s Financial Conduct Authority (FCA) announced today (Monday) it will partner with the chip-maker Nvidia (NASDAQ: NVDA) to establish a testing environment where financial institutions can safely trial artificial intelligence applications.Although several tech companies connected to the AI industry, such as Arm Holdings, Imagination Technologies, and Graphcore, are based locally, the FCA ultimately chose to partner with a U.S.-based firm.The UK Financial Regulator Launches AI Testing Program with Nvidia PartnershipThe program, dubbed the “Supercharged Sandbox,” will provide banks and other financial firms with enhanced computing resources, technical guidance, and regulatory oversight to accelerate their AI development efforts. Applications are being accepted immediately, with testing scheduled to begin in October.The collaboration addresses mounting pressure on financial institutions to adopt AI technologies while navigating complex regulatory requirements and risk management concerns. Many banks have struggled to deploy advanced AI tools due to uncertainties around data privacy, fraud prevention, and compliance obligations.“This collaboration will help those that want to test AI ideas but who lack the capabilities to do so,” said Jessica Rusu, the FCA's chief data, intelligence and information officer. “We'll help firms harness AI to benefit our markets and consumers, while supporting economic growth.” She mentioned the plans to start the program already in April.UK Financial Firms Can Now Experiment with AI ToolsThe initiative targets companies in early-stage AI exploration, complementing an existing live testing service for firms with more mature AI programs. Participants will gain access to Nvidia's accelerated computing platform and AI Enterprise Software suite through the regulatory framework.“AI is fundamentally reshaping the financial sector by automating processes, enhancing data analysis, and improving decision-making,” added Dr. Jochen Papenbrock, Nvidia's EMEA head of financial technology.The sandbox builds upon existing digital infrastructure provided by NayaOne, offering enhanced computational power specifically designed for AI innovation. The FCA indicated the program aligns with broader government objectives to support economic growth through technological advancement.In the first quarter, Nvidia earned $44 billion, a record figure that, according to the company’s CEO, was largely driven by AI.“Global demand for NVIDIA's AI infrastructure is incredibly strong,” CEO Jensen Huang said in a statement. “AI inference token generation has surged tenfold in just one year, and as AI agents become mainstream, the demand for AI computing will accelerate.”You may also like: New FCA Crypto Custody Rules Would Force Firms to Upgrade SecurityAI Regulatory FrameworkFinancial institutions have faced particular challenges implementing generative AI tools, with concerns over data security and the potential for AI-generated fraud complicating deployment strategies. The regulatory sandbox model aims to provide a controlled environment where these risks can be assessed and managed.The announcement comes as the FCA continues developing its AI regulatory framework, having outlined its approach to AI oversight in previous guidance documents. The regulator has emphasized its intention to rely on existing regulatory structures rather than creating new AI-specific rules. This article was written by Damian Chmiel at www.financemagnates.com.

Oil derivatives liquidity provider Onyx Capital Group’s entity that operates its retail brokerage business generated £3.1 million in revenue in the 18 months ended 31 December 2024, compared to £0.9 million in the previous 12 months. The Financial Conduct Authority-regulated broker, Onyx Markets, was launched last year and offers trading services in contracts for differences (CFDs) and spread betting.The UK’s Retail Brokerage Space Has PotentialThe latest Companies House filing of Onyx Capital Group noted that the brokerage business continued to increase its number of clients and market share.You may also like: Around 20% FCA-Regulated CFD Brokers Are InactiveThe Group offers retail trading services through its entity, Onyx Capital Advisory Limited, which received its FCA licence in 2019 and had previously been offering advisory services. Andrea Rebusco, who previously worked at IG Group and MoneyFarm, heads the brokerage division. Several other former IG executives have also joined the business.The entity offering CFDs trading also ended the latest accounting period with an operating loss of £4 million, compared to a loss of £1.7 million in FY23. “Whilst the company continues to be loss-making, there has been a significant increase in turnover during the period,” the filing noted, adding that “the advisory business has had a strong 18-month period, growing the revenue by 360% compared to the prior year.”Read more: What Do Exness, IronFX, FXTM, and RoboMarkets Have in Common?A Struggling, Yet “Good” Year for OnyxMeanwhile, the Group ended the 18 months with £247 million in turnover. Although not directly comparable, the figure was £208 million in the previous 12-month-long financial year.The Group’s most striking figure in its latest Companies House filing was its profits. Its operating profit for the 18 months came in at £33 million, down from £76 million in the previous 12 months. It netted £28 million after tax, compared to £60 million in FY23.According to the filing, the profit was hit by the impact of challenging market conditions, which reduced trading margins.“Given the market conditions last year, [which] seem to have hit every trade house and major, [our] results were pretty good,” Greg Newman, Group CEO of Onyx Capital Group, noted in a LinkedIn post. “We have a strong cash position and a solid operational function.”“So whether it was dealing with PnL volatility for the firm, a highly publicised legal battle, multiple attempts at bullying from trade houses and legacy market infrastructure businesses, or even unexpected departures – we’ve stayed completely true to what we are about and what we are trying to do.” This article was written by Arnab Shome at www.financemagnates.com.

XRP posted an impressive rebound, up 4% in a single day and nearly 10% over the weekend. While the new week has started with a modest pullback, both XRP news and technical analysis remain strongly bullish. In this article, we break down why XRP could climb to $2.30 in the short term, reach $3.30 in the medium term, and why long-term XRP price predictions now point to $8, or even $100. If you're wondering why XRP is rising today and what analysts forecast for its future, this breakdown covers it all.XRP Price Today After Strongest Rebound in a MonthDuring Sunday’s session, the price of XRP rose by over 4%, testing the highest levels this month. It’s worth noting that this single-day gain was the strongest in nearly a month, specifically since May 12, when XRP jumped 7.5% to reach $2.65. Although the current price remains 40 cents below that peak, XRP has gained more than 10% over the weekend, climbing from Friday’s lows near $2.10. On the chart, a potential double bottom pattern is forming around the $2.10 level, which also aligns with the 200-day exponential moving average (200 EMA), providing potential support for a further upward move.Today, Monday, June 9, 2025, XRP is undergoing a modest correction, retreating by 1.45% to trade at $2.23. However, the price remains significantly higher than it was before the weekend, having moved well above the nearly two-month lows.Moreover, according to the latest market cap data, XRP is currently among the top gainers over the past 24 hours within the group of major cryptocurrencies. For comparison, in the same time frame, the largest cryptocurrency by market capitalization, Bitcoin (BTC), is up only 0.13%, while the second-largest, Ethereum (ETH), is down nearly 1%. Binance Coin (BNB) is flat, Solana (SOL) has gained 0.5%, and Dogecoin (DOGE) is down 1.2%.Why Is XRP Price Going Up? 3 Key DriversFrom institutional recognition to real-world utility, XRP is benefiting from a series of catalysts that are reshaping investor sentiment. Why is XRP going up? Let’s check!1. XRP Added to Nasdaq Crypto US Settlement Price IndexXRP’s inclusion in the Nasdaq Crypto US Settlement Price Index (NCIUS) on June 2 marked a pivotal milestone. This index, tracked by the Hashdex Nasdaq Crypto Index US ETF (ticker: NCIQ), previously focused only on Bitcoin and Ethereum. The expanded version now includes XRP, Cardano (ADA), Solana, and Stellar Lumens (XLM). Although the ETF itself remains restricted to BTC and ETH holdings, XRP’s addition to the index signals a growing level of institutional acceptance and enhances its profile within regulated financial products.2. Regulatory Momentum and ETF OptimismThe updated composition of the Nasdaq index has also renewed market hopes for altcoin-based ETFs. While XRP is not yet directly included in any U.S.-listed ETF holdings, its presence in a benchmark used by a regulated fund hints at changing attitudes from regulators and financial institutions. This development could pave the way for broader crypto ETF adoption, with XRP potentially among the next candidates if U.S. rules evolve.3. Ripple’s Push to Modernize Cross-Border PaymentsRipple added fuel to the rally by publishing a blog post on May 28, positioning XRP and its new stablecoin, Ripple USD (RLUSD), as a modern solution to the outdated infrastructure of the SWIFT payment system. The company pointed out the inefficiencies of traditional international transfers, citing manual processes, high fees, and lack of transparency, as areas where blockchain can provide immediate improvements. Ripple’s platform now claims coverage of over 90% of the global foreign exchange market, offering real-time settlement and end-to-end visibility. XRP’s central role in this ecosystem reinforces its long-term utility and value proposition.Related: After XRP, Ripple’s RLUSD Joins Dubai’s Approved Crypto Tokens Under DFSAXRP with a Double Bottom: A Chance to Reclaim $2.30My technical analysis indicates that local support on the XRP/USD chart—visible since early May, has formed a double bottom pattern between late May and early June, based on the lows from May 31, June 5, and June 6. The horizontal support is located at $2.10 and is further reinforced by the 200 EMA. If not for the current consolidation between this moving average and the shorter-term 50 EMA near $2.26, I would suggest that the double bottom pattern could enable a stronger breakout toward $2.60, a level tested a month ago. However, due to the nearby local peaks and the $2.30 level acting alternately as support and resistance in recent weeks, the short-term target appears to be $2.30.That said, my medium-term outlook is more optimistic, based on a larger and more established technical pattern: the bull flag formation.Bullish Flag Pattern Predicts XRP Could Rise to $3.30The bull flag I’ve identified began forming from the April lows, when XRP traded at $1.60. The price then surged to $2.60 before entering a downward regression channel, where it remained until this past weekend. After three consecutive days of gains and a strong Sunday rally, XRP broke out of the flag formation, confirming the upward breakout. Based on the height of the flagpole, the measured target for this breakout is approximately $3.30, levels not seen since mid-January 2025. Notably, XRP/USDT also broke out of a much broader and longer-term bearish channel drawn from the beginning of the year. A confirmed breakout above the 50 EMA and the $2.30 level would, for me, validate this move and open the path to the medium-term target of $3.30.This would represent a nearly 50% gain from current levels, offering retail investors a compelling upside and profit opportunity.I also identified a yet-to-be-confirmed flag formation on the Bitcoin chart last week. Similar to XRP, the pattern has been developing from the April lows. In that same analysis, I cited expert forecasts suggesting that Bitcoin could reach $125,000 by the end of this month and potentially climb to $200,000 by year-end. You can read more about that projection here.XRP Price Support and Resistance LevelsXRP Price Predictions for 2025 and 2026 Range from $8 to as High as $100The XRP price outlook for 2025 and 2026 spans an unusually wide range, reflecting growing optimism among traders and analysts. Most conservative forecasts suggest that XRP could reach between $3 and $8 in the coming months, while more aggressive scenarios extend that target significantly, with some predicting a long-term move toward $100 per token by 2026.Bitget Research’s Chief Analyst, Ryan Lee, predicts that XRP could rise to $8 in 2025, supported by strong institutional interest, technical breakout patterns, and the potential for an “altseason” sparked by Bitcoin consolidation.At the same time, some members of the crypto community are pointing to even more ambitious projections. One widely circulated forecast suggests XRP could hit $100 by 2026, citing the potential for institutional adoption, spot ETF approval, and Ripple’s growing role in global finance through products like RLUSD and its blockchain-based cross-border payment network. “XRP to $1,000 could happen a lot sooner than people anticipate. 2025 could be the year we see a $100 XRP. By 2026-2027 we could see XRP move rapidly from $100 to $1,000,” commented BarriC, a popular cryptocurrency analyst from X (formerly Twitter).While such extreme predictions should be treated with caution due to their speculative nature, they highlight the high expectations some investors are placing on XRP’s future utility.XRP Price Predictions TableUltimately, the path forward for XRP will depend on the alignment of regulatory approvals, institutional inflows, and Ripple’s execution on its payment infrastructure roadmap. Investors are closely watching the June 17 SEC decision on the XRP ETF, which could act as a short-term catalyst and shape the trajectory into 2026.XRP News, FAQWhy Is XRP Going Up So Much?XRP’s price surge in early June 2025 is driven by a combination of regulatory, technical, and institutional factors. Most notably, Ripple’s legal victory over the SEC brought long-awaited regulatory clarity, confirming that XRP is not a security in the U.S. This decision has opened the door for increased participation by institutional investors. At the same time, anticipation surrounding a possible XRP spot ETF, especially with an SEC decision expected on June 17, has injected new bullish sentiment into the market. Can XRP Reach $20?While reaching $20 is not impossible, it would require substantial catalysts and favorable conditions to materialize. At that price point, XRP’s market capitalization would exceed $1 trillion, placing it among the most valuable financial assets globally. Achieving this would likely depend on a combination of mass institutional adoption, successful integration of Ripple's payment technology across global banking systems, and a strong bull market across the crypto sector. Will XRP Hit $10 in 2025?There is a growing consensus among bullish analysts that XRP could approach or even hit $10 before the end of 2025, especially if key events align. These include the approval of a U.S. spot XRP ETF, further institutional inflows, and continued expansion of Ripple’s cross-border payment services. Technical indicators also support a potential move higher, with short-term targets in the $3–$5 range already in play. Will XRP Reach $5?A move to $5 is widely seen as a realistic target for XRP in 2025, particularly if short-term resistance levels are broken. Technical forecasts identify $2.60 and $3.00 as key breakout points, with $5.00 often cited as the next major psychological and technical milestone. This scenario becomes more likely if Ripple successfully expands its enterprise payment network and the SEC approves the much-anticipated XRP ETF. Given the current pace of adoption, improved regulatory outlook, and bullish sentiment, $5 is viewed by many analysts as a probable medium-term objective—especially during a broader altcoin rally. This article was written by Damian Chmiel at www.financemagnates.com.

Singapore Exchange Group (SGX) has partnered with Brazil's B3 stock exchange to launch Brazilian Real futures contracts, creating the first Forex (FX) trading corridor between Singapore and Brazil that enables round-the-clock liquidity for the South American currency.Singapore Exchange Partners with B3 to Launch Brazilian Real Futures TradingThe collaboration allows SGX Group to offer BRL/USD futures during Asian trading hours when Brazilian markets remain closed, providing global investors with continuous access to hedge Brazilian Real exposure. This marks SGX Group's first expansion into South American currency derivatives beyond its traditional Asian market focus.The partnership addresses growing demand from Asian investors seeking exposure to Brazilian markets, particularly as trade relationships between Asia and Brazil continue to strengthen. Asia represents a major trading partner for Brazil, creating natural demand for currency hedging tools among institutional investors and corporations with Brazilian exposure."SGX Group is building new bridges across more markets," said Michael Syn, President of SGX Group. "Together with B3, we have established an FX linkage that brings BRL futures to SGX and into the Asian trading day. We are providing liquidity during Asian hours when the Brazilian market is closed for trading, giving global investors a seamless tool to manage BRL exposure around the clock."The new futures contracts will integrate with SGX Group's existing derivatives ecosystem, allowing traders to benefit from margin offsets against other SGX derivatives products. This cross-margining capability enhances capital efficiency for market participants managing multiple currency and commodity positions.Expanding FX Derivatives FranchiseThe Brazilian Real futures launch builds on SGX Group's position as operator of the world's largest Asian FX futures marketplace. The exchange has experienced significant growth in its foreign exchange derivatives business, with total FX futures trading volume surging nearly 40% year-on-year to reach a record $4.5 trillion for the financial year ending May 2025."This new contract bridges the two leading international hubs of Asia and Latin America," Gilson Finkelsztain, CEO of B3, added. "The SGX BRL/USD Futures contract is an attractive and efficient trading instrument for Asian investors."Both exchanges plan to promote the new contract and facilitate cross-venue trading capabilities jointly. The collaboration represents part of SGX Group's broader strategy to diversify its derivatives offerings beyond traditional Asian currencies and expand into emerging market currencies with significant global trade implications.The partnership also complements SGX Group's existing commodity derivatives franchise, as many Asian companies maintain exposure to both Brazilian currency and commodity markets through trade relationships and investment activities.In the meantime, the exchange announced the appointment of Jean-Philippe Malé as CEO of SGX FX, effective April. The new CEO of the FX business previously served as Executive and Co-Founder of BidFX, a buyside Forex platform acquired by the Singaporean exchange 5 years ago.This marked another shift in SGX's FX leadership, following the October 2024 appointment of Hugh Whelan, former EBS Director and co-founder of FXSpotStream, to the SGX. This article was written by Damian Chmiel at www.financemagnates.com.