On his campaign trail, US President-elect Donald Trump vowed to fire Securities and Exchange Commission (SEC) Chair Gary Gensler if elected. But even before Trump gets to the Oval Office, Gensler has hinted at a possible exit from the agency. A recent speech by the SEC boss left many speculating about his potential resignation, CNBC reported. In what sounded like a reflective farewell, Gensler defended his regulatory approach, especially toward the crypto industry, and highlighted key accomplishments during his tenure.Leaving the SEC?Speaking at the Practising Law Institute’s 56th annual conference on securities regulation, Gensler expressed pride in his role at the SEC, a position he has held since April 2021. During the address, Gensler reviewed several of the SEC’s major accomplishments. Among the highlights were new disclosure rules aimed at increasing transparency. The regulations now require companies to provide more comprehensive information on data breaches, executive pay in relation to performance, and significant ownership stakes exceeding 5%. Although he briefly mentioned the climate change disclosure rule, which remains delayed in legal challenges, Gensler focused on the broader intent of these initiatives. Gensler also pointed to structural changes he implemented in the markets. These include new rules for the central clearing of Treasury securities and a reduction in the settlement cycle for stock transactions from two days to one.Additionally, he highlighted recent adjustments that allow stocks to be quoted in increments smaller than a penny, aimed at increasing liquidity and efficiency.Strong Stance on Crypto RegulationIn what has been a defining feature of his leadership, Gensler reiterated his strong stance on regulating the crypto sector. “It’s been a great honor to serve with them, doing the people’s work, and ensuring that our capital markets remain the best in the world,” Gensler mentioned as quoted by CNBC.While he acknowledged that Bitcoin does not fall under the SEC’s purview as a security, he emphasized that many of the 10,000 digital assets on the market do. He defended the SEC’s crackdown on unregistered offerings, noting that these actions align with existing securities laws.Gensler argued that the failure to properly regulate the crypto market has led to “significant investor harm,” reiterating his belief that most crypto assets have not demonstrated lasting value. Although Gensler did not explicitly announce his resignation, his words left room for interpretation. This article was written by Jared Kirui at www.financemagnates.com.

Coinbase listed Pepe, a meme token created from a frog internet meme that gained popularity in the early 2000s. The long-awaited listing followed the recent bull market that drove most cryptocurrencies to unprecedented levels. The crypto rally also pushed the valuation of PEPE to more than $9 billion, making it the fifteenth largest digital asset. According to CoinMarketCap, the meme token was up 20% in the past day and 118% on the weekly chart at the time of writing. Currently, PEPE trades at $0.00002275.Coinbase Embraces Meme TokensOn Wednesday, Coinbase’s Chief Legal Officer Paul Grewal informed the crypto community that the exchange was soon listing the token. “You have long wanted the frog. Well, soon you'll get the frog. @coinbase is adding PEPE to our listing roadmap with the goal of listing later today. Thanks for your patience,” he wrote. Interestingly, Pepe’s description on CoinMarketCap states that it aims to capitalize on the popularity of other meme tokens like Shiba Inu and Dogecoin.You've long wanted the frog. Well, soon you'll get the frog. @coinbase is adding PEPE to our listing roadmap with the goal of listing later today. Thanks for your patience.— paulgrewal.eth (@iampaulgrewal) November 13, 2024Interestingly, Coinbase faced criticism from the crypto community on Twitter after it published a newsletter article criticizing the meme token. In the publication, the author described an Ethereum-based meme coin as a coin “that has been co-opted as a hate symbol by alt-right groups,” citing the Anti-Defamation League for the description.Past CriticismThe tussle came after PEPE reportedly became the fastest Ethereum token to hit $1 billion amid a rise in the popularity of meme tokens. “For a few, speculation on meme coins has led to massive profits, but that doesn’t come without risks too, sometimes meme coin frenzies even precede broad declines in Bitcoin and Ethereum,” the article added.Like most meme tokens, PEPE founders are anonymous. The token is described as a deflationary meme coin based on Ethereum. The meme project reportedly has three phases in its roadmap, including listing on CoinMarketCap and making the token trend on X. The project’s team also seeks to list on centralized exchanges. This article was written by Jared Kirui at www.financemagnates.com.

Elon Musk, the world’s richest man and self-proclaimed Doge father, is back to promoting the meme token following its skyrocketing prices. Musk retweeted a post on X praising the achievement of the digital asset that once started as an internet parody but is now worth billions of dollars.The Tweet came from Melissa Chen, the co-founder of Ideas Beyond Borders. In the post, which impressed the Tesla boss, Chen expressed her enthusiasm about how DOGE has gained popularity since starting as just a meme token.From Meme to Mainstream“I’m cracking up so badly listening to serious WSJ journalists pronounce “DOGE” in their professional radio broadcasting voice in the context of a serious news bit, and part of me cannot believe that it all started from a meme. A govt agency was memed into existence Much wow,” she wrote.This is so awesome ? ? https://t.co/QLixI9t1tC— Elon Musk (@elonmusk) November 14, 2024DOGE was one of the cryptocurrencies that led the recent crypto rally. The meme token, which was created in 2013 from a dog meme, now ranks sixth in the crypto asset list with a valuation of $58 billion. At the time of writing, the meme token was trading at $0.3977 after soaring over 105% in the weekly chart.Crypto RallyAccording to a recent report by Finance Magnates, the surge in DOGE prices and the bullish sentiment in the broader crypto space are linked to political and economic factors and general market speculation.The crypto community welcomed Donald Trump's return to the White House after his victory in the US election. During his campaign, Trump lured the crypto community with many promises, including firing the Securities and Exchange Commission (SEC) Chair Gary Gensler if re-elected.In a July YouTube livestream by Sky News, the President-elect and business mogul lauded Bitcoin, saying, "It is not just a marvel of technology; it is a miracle of cooperation and human achievement. A lot of relationships are formed. Obviously, there is competition, but there are relationships. There is a friendship that is developed."Interestingly, despite the positive gains, most industry experts believe that DOGE could still retreat from the current high before any attempt at trading at $1. However, there has been significant buying activity among large investors, also referred to as whales. DOGE rally is also boosted by strong trading volumes. This article was written by Jared Kirui at www.financemagnates.com.

The Cyprus Securities and Exchange Commission (CySEC) informs investors that several websites are not linked to any entity authorized to offer investment services or perform investment activities.It should be noted that some of these entities may be fraudulent clones, attempting to impersonate licensed companies by using their names, logos, addresses, and other details. CySEC Alerts on Unauthorized WebsitesThese firms include WeonMarket, along with its associated site platform.dashboardweonmarket.live; Nortenway and its registration page, cfd.nortenway.com/register; PrimusCFD and its client portal, client.primuscfd.net; Axiagroup.co; OctaMarketFX; Apmetrade; Investous.pro; Varkuti.eu and QuoMarkets.com.Other sites in the warning list include Efgbtrdpltfrm.com; Profitwave.cc; MarketsAdvGroup.com; Platform-Oro.com; VTMarkets.com and VTMarkets.net; Bybit.com; Chiron-Group.limited; and GameChangersWW.com, which is also linked to Bybit.com and VTMarkets.net.Deceptive operations by clone firms have no connection to the legitimate firms they mimic, despite their apparent similarities.Investor Caution AdvisedFinance Magnates reached out to several firms on the warning list. OctaFX responded, clarifying that the website “octamarketfx.com” is unrelated to their globally licensed operations and is an impostor using their brand for fraudulent purposes. They emphasized that their official site is “octafx.com” and assured that steps are being taken to eliminate the deceptive site.“‘octamarketfx.com’ website added recently to the warning list issued by the CySEC has nothing to do with the globally licensed broker Octa (ex. OctaFX) operating on the market since 2011. ‘octafx.com’ is the main official website of the company. Moreover, EU residents and citizens aren’t able to register and be onboarded via octafx.com,” the firm noted in its statement.“As for ‘octamarketfx.com’ we consider the entity as an impostor using our brand for the purpose of profit. There have been numerous instances where imposters have attempted to deceive people by using our brand name and/or logo to solicit money, which is ultimately stolen by these copycats. We passed the case to the relevant team, so we’re aiming to take action in this regard and eliminate ‘octamarketfx.com’ from public access.” CySEC urges investors to exercise caution and consult its website to verify the licensing status of any investment firm before proceeding. This article was written by Tareq Sikder at www.financemagnates.com.

Crypto markets are ablaze this week, with Bitcoin surpassing $93,000, fueled by Donald Trump’s reelection and his pledge to establish the U.S. as a global crypto powerhouse. Market sentiment is surging as retail traders and institutions respond to expected regulatory shifts, including Trump’s proposed national Bitcoin reserve and potential changes in SEC leadership. This shift has sparked a wave of capital inflows, with traders eager to seize the momentum of a “crypto-friendly” administration. Excitement is high, as many view this as a pivotal moment that could push digital assets to new heights and cement cryptocurrency’s place in mainstream finance.For FX brokers, the rally is a clear signal to act—those who wait risk being sidelined in a market that’s accelerating at breakneck speed, while competitors capture the inflows by incorporating cryptocurrency into their offerings. As client demand for digital assets surges, brokers who move to integrate crypto trading will position themselves to meet this shift head-on and engage a new wave of traders, while those who delay may struggle to stay afloat.Regulatory Shifts Fuel a Market Rally: Is $100K Bitcoin on the Horizon?As Bitcoin continues its meteoric rise, the question on everyone’s mind is: how far will this rally go? With capital pouring in at record pace, the $100,000 threshold is beginning to feel within reach, transforming what was once speculative into an attainable target. The market response has been swift, with liquidity providers, hedge funds, and even traditional institutions deepening their crypto positions. For those on the sidelines, the rally poses a striking question—how much longer can they afford to ignore a market that seems poised to break through every ceiling set before it?Bitcoin has demonstrated remarkable growth over the past year, surging from $37,787 in November 2023 to reach a new all-time high of $93,192 in November 2024. This 147% increase reflects strengthening institutional adoption and expanding market infrastructure.FX Brokers at a Crossroads: Adapting to a Merging Market ShiftFX brokers are facing a period of significant change as the boundaries between traditional forex and crypto markets continue to blur. Driven by client demand for diverse trading options, a number of brokers have started incorporating crypto assets, offering CFDs, spot trading, and, in some cases, full spot and derivatives trading.As crypto markets continue their rally, the need for access to digital assets is becoming increasingly clear across financial sectors. This shift presents an opportunity for brokers to meet the demands of traders seeking both crypto and conventional currencies, reflecting a broader trend toward multi-asset platforms. For brokers yet to adopt crypto, the risk of not offering these trading options is beginning to blatantly outweigh the benefits of a traditional-only approach, as clients are drawn to platforms where they can access high growth assets.How FX Brokers Can Capitalize on the Crypto RallyTo take advantage of the ongoing crypto rally, FX brokers need to integrate full-scale crypto trading functionality, moving past basic forex trading or crypto CFDs. By adopting white label technology, brokers can quickly introduce spot and derivatives trading, enabling clients to access a wider range of digital assets within a short timeline.This ready-made software provides all of the required infrastructure, enabling brokers to launch a crypto offering almost immediately and capture the strong demand in today’s market. With minimal setup required, white label platforms allow brokers to act swiftly, staying competitive and seizing the wave of interest propelling crypto growth into 2025.The Shift Platform: White Label Tech Designed for FX Brokers Entering CryptoShift Markets offers a white label exchange solution designed to meet the specific needs of FX brokers looking to enter the crypto market. With roots in the FX industry, Shift understands the unique pain points brokers face and provides the technology to address them. Shift’s platform supports both spot and derivatives trading, giving brokers the ability to offer a full range of digital assets while maintaining access to pre-sourced liquidity from leading exchanges, ensuring high-level trade execution and competitive pricing.The Shift Platform is designed to integrate smoothly with existing technology and infrastructure of FX brokers, making it easy to expand their offerings without significant operational changes. With full back-office control over trading pairs, fee structures, and user management, Shift Markets enables brokers to offer crypto trading in a way that aligns with their current setup and meets their clients' growing interest in digital assets.Now is the time for FX brokers to integrate full crypto functionality and capture the demand driving digital assets into 2025. Taking action today can help brokerages stay competitive, meet client expectations, and position themselves at the forefront of finance’s next chapter. Reach out today to see how Shift Markets can help your brokerage leverage digital assets. This article was written by FM Contributors at www.financemagnates.com.

EBC Financial Group (EBC), in collaboration with the University of Oxford’s Department of Economics, will convene leading minds from academia and finance on 14 November 2024 for a special edition of the What Economists Really Do(WERD) Series. This event, themed “Macroeconomics and Climate”, will feature a keynote lecture by Associate Professor Andrea Chiavari, followed by a panel discussion on the topic “Sustaining Sustainability: Balancing Economic Growth and Climate Resilience.” As part of the 2024-2025 WERD series, this event offers a timely platform for industry experts and academic leaders to share insights on climate economics and sustainable finance.Prominent Voices in Climate and MacroeconomicsThe keynote lecture will be led by Associate Professor Andrea Chiavari, whose research focuses on the economic impacts of climate change and the practical applications of policy tools such as carbon taxation. Chiavari’s address will explore how economists calculate the social cost of carbon and the transformative potential of macroeconomic policy in advancing climate action. His presentation will provide a nuanced framework for balancing economic resilience with climate responsibility—providing insights into the real-world challenges of implementing strategies for sustainable growth.Associate Professor Banu Demir Pakel will moderate the subsequent panel discussion, steering a thought-provoking conversation on the economic mechanisms that drive sustainability. With a background in international trade and development economics, Demir Pakel will bring valuable expertise to the discussion, focusing the global financial adjustments needed to achieve sustainable outcomes.Panel Discussion: Sustaining SustainabilityThe panel will feature prominent figures in climate economics and finance, including Dr. Nicola Ranger, Director of the Resilient Planet Finance Lab at Oxford, and David Barrett, CEO of EBC Financial Group (UK) Ltd. Together, they’ll address pressing questions at the intersection of finance and sustainability, examining strategies that financial institutions are deploying to bolster climate resilience and sustainable economic growth. Dr. Ranger will discuss how economic tools can support vulnerable regions in adapting to climate impacts. Meanwhile, Barrett will discuss the emerging trends in climate-aware investment within the UK and globally, highlighting how the finance sector is evolving to meet environmental challenges.Topics to be explored include:· Associate Professor Andrea Chiavari: Addressing gaps between economic modelling and sustainable policy implementation, identifying barriers faced by policy makers, and discussing how economists can help bridge these divides to promote effective climate action.· Dr. Nicola Ranger: Exploring how financial tools can address climate resilience in vulnerable communities, sector priorities for sustainable finance, and promising innovations.· David Barrett: Examining trends in climate-aware investment, balancing profit with environmental goals, and the potential for private finance as a driver of sustainability.A Timely Dialogue on Climate Policy and Economic ResilienceThe WERD series aims to bridge the gap between academic research and practical application, making economics accessible to the public while addressing global challenges. This session, set against the backdrop of COP29 and urgent climate issues, reflects EBC’s broader mission of fostering sustainable growth and resilience.“Our ongoing collaboration with the University of Oxford’s Department of Economics underscores EBC’s commitment to driving meaningful, informed conversations on the global stage,” said David Barrett, CEO of EBC Financial Group (UK) Ltd. “Climate resilience and economic stability go hand-in-hand, and we are proud to support initiatives that address these issues head-on.”Attendees—joining either in-person at the Sir Michael Dummett Lecture Theatre, Christ Church, and online—will gain practical insights into how macroeconomic principles can support sustainable growth and climate adaptation.To reserve your spot, please visit this link.About EBC Financial GroupFounded in the esteemed financial district of London, EBC Financial Group (EBC) is renowned for its comprehensive suite of services that includes financial brokerage, asset management, and comprehensive investment solutions. EBC has quickly established its position as a global brokerage firm, with an extensive presence in key financial hubs such as London, Hong Kong, Tokyo, Singapore, Sydney, the Cayman Islands, and across emerging markets in Latin America, Southeast Asia, Africa, and India. EBC caters to a diverse clientele of retail, professional, and institutional investors worldwide.Recognised by multiple awards, EBC prides itself on adhering to the leading levels of ethical standards and international regulation. EBC Financial Group's subsidiaries are regulated and licensed in their local jurisdictions. EBC Financial Group (UK) Limited is regulated by the UK's Financial Conduct Authority (FCA), EBC Financial Group (Cayman) Limited is regulated by the Cayman Islands Monetary Authority (CIMA), EBC Financial Group (Australia) Pty Ltd, and EBC Asset Management Pty Ltd are regulated by Australia's Securities and Investments Commission (ASIC). At the core of EBC Group are seasoned professionals with over 30 years of profound experience in major financial institutions, having adeptly navigated through significant economic cycles from the Plaza Accord to the 2015 Swiss franc crisis. EBC champions a culture where integrity, respect, and client asset security are paramount, ensuring that every investor engagement is treated with the utmost seriousness it deserves.EBC is the Official Foreign Exchange Partner of FC Barcelona, offering specialised services in regions such as Asia, LATAM, the Middle East, Africa, and Oceania. EBC is also a partner of United to Beat Malaria, a campaign of the United Nations Foundation, aiming to improve global health outcomes. Starting February 2024, EBC supports the 'What Economists Really Do' public engagement series by Oxford University's Department of Economics, demystifying economics, and its application to major societal challenges to enhance public understanding and dialogue.https://www.ebc.com/About the Department of EconomicsThe Oxford Department of Economics is a globally recognised centre of excellence, housing one of the world’s largest communities of academic economists. Known for the depth and diversity of its research, which significantly influences policy, the Department is also celebrated for its dynamic community of early-career scholars and its highly regarded undergraduate and graduate programs. In 2024, the Department of Economics was ranked first in the United Kingdom by The Guardian for undergraduate teaching. The ranking reflects the Department's ongoing commitment to excellence in teaching and research, solidifying its position as one of the leading Economics departments in the world. Beyond the achievements in teaching, the Department’s aim is to produce transformative and innovative economic research; to have a sustained impact on economic policy outside academia; and to develop and train the next generation of researchers and research leaders.About What Economists Really Do (WERD):WERD is run as an outreach programme by the Department of Economics, Oxford University to inspire the study of economics and share 'What Economists Really Do'. On topics ranging from the climate crisis to labour market discrimination, Oxford economists are working with governments and businesses around the world to improve policy and make the economy work better for everyone. Find out how economics can be used to shed light on some of the biggest issues facing society today in this successful public webinar series, returning for the fourth successful series in 2024-25. This article was written by FM Contributors at www.financemagnates.com.

Prop trading company FunderPro has announced plans to launch Futures services on its website. In a notice, the firm reportedly opened a waitlist for exclusive access to the new offering. The company has also set up a new URL for the new offering: funderprofutures.com.Integration with cTraderThe announcement came days after FunderPro disclosed that it had integrated cTrader into its offering. The integration reportedly aims to give users more trading options. cTrader is a multi-asset forex and CFD trading platform serving brokers and prop trading companies.The platform reportedly utilizes a liquidity network to provide services to corporate trading entities and individual traders via a range of financial instruments. FunderPro joined a growing list of companies that have added cTrader to their services.More choices for our traders are now available! cTrader trading platform is now available on FunderPro!#cTrader #FunderPro pic.twitter.com/9VgWHWMESC— FunderPro (@FunderProfx) November 5, 2024The other companies include Goat Funded Trader, a proprietary trading firm reportedly offering retail users access to accounts of up to $800,000. The Funded Trader and MyFundedFX are the other prop trading firms that have also sought the services of cTrader.More Firms Eye FuturesNotably, more companies are now focusing on futures. For instance, AvaTrade, a forex, and contracts for differences broker, recently broadened its services by introducing a specific futures trading platform dubbed AvaFuture. The new service reportedly encompasses micro, mini, and standard futures contracts.Wait, what did YOU think we meant? ? Doesn't matter, we've got an answer for you. Futures offer a number of benefits over other asset classes. Get into the details of it here: https://t.co/ouf8XF7BZ4 pic.twitter.com/5veckybeCo— NinjaTrader (@NinjaTrader) May 16, 2024According to a report by Finance Magnates, AvaFuture offers futures contracts for indices, commodities, currencies, treasuries, cryptocurrencies, and metals. A recent study noted that the policies around the contracts for differences are pushing investors to other instruments, such as futures. The research by Acuiti highlighted that 50% of European retail brokers prefer offering futures and options over retail over-the-counter instruments.Commenting about this trend, Anya Aratovskaya, an FX Consultant, recently told Finance Magnates: “This tendency is probably true for the US market and maybe Europe as European traders love CFDs and are also likely to consider futures, but overall, I don't think the shift is that significant.” This article was written by Jared Kirui at www.financemagnates.com.

The Cyprus Securities and Exchange Commission (CySEC) has announced the removal of AMP Global Ltd.'s membership from the Investors Compensation Fund (ICF). ICF Membership Removed, Compensation AvailableThis decision follows the company's withdrawal of its Cyprus Investment Firm (CIF) authorizations. Despite the removal from the ICF, clients who were covered by the fund may still be eligible for compensation for investment activities conducted before the withdrawal, provided they meet the conditions outlined in CySEC's Directive DI87-07. The withdrawal does not prevent compensation procedures from being initiated for affected clients.AMP Global Suspends European OperationsEarlier, Finance Magnates reported that AMP Global, a US-based FX/CFD broker, appears to have suspended its European operations, previously conducted through AMP Global Ltd. The company announced it is relinquishing its license from the CySEC. CySEC confirmed the withdrawal of AMP Global’s Cyprus Investment Firm (CIF) authorization. AMP Global, regulated by CySEC since 2018, was authorized to operate in Europe under this license. In the US, AMP Global Clearing LLC remains registered as a Futures Commission Merchant.“We would like to inform you that AMP Global Ltd hereby notifies you that it is in the process of voluntarily renouncing its CIF License with authorization number 360/18,” stated the official broker's website. “Therefore, the Company will no longer accept any new clients and/or the opening of any new accounts while it has terminated all its existing clients and informed them about the procedure that should be followed for their funds return and filing any complaints.”CySEC Highlights UKNF Stance on ReferralsThe CySEC has issued a reminder to Cyprus Investment Firms (CIFs) about the Polish Financial Supervision Authority's (UKNF) stance on referral and affiliate programmes. According to UKNF’s position, dated October 2023, clients of investment firms or unregulated intermediaries are prohibited from engaging in individualized client acquisition activities through such programmes, as reported by Finance Magnates.CySEC highlighted in its release that "the UKNF Position forbids clients of an investment firm or unregulated intermediaries from undertaking, under referral programmes or affiliate programmes, individualized actions to acquire clients or potential clients of investment services." This article was written by Tareq Sikder at www.financemagnates.com.

Forex and CFD broker Monaxa is launching a proprietary trading service, according to a post by the company’s CEO, Chris Trikomitis, today (Thursday). Although the details about the new platform remain scarce, the service is branded Monaxa Prop.Monaxa Prop Trikomitis mentioned: “And we are finally ready. Our very own Monaxa Prop will be launching very soon.” Further, the post mentioned: “Your skills and our funding unlocks 85% profit share. Start your first challenge with $50.”According to the Monaxa website, the company is comprised of several entities operating under one brand. One of the entities is reportedly registered by the Financial Services Commission of the Republic of Mauritius with an investment dealer license.Trikomitis joined Monaxa early this year as the Chief Executive Officer from Exness, where he served as the Markets Director. He joined the company after dedicating 10 months to his former role at Exness. According to his LinkedIn profile, Trikomitis has nearly two decades of experience in the financial industry. More companies are moving into prop trading amid the sector's growing popularity. Recently, Taurex joined the sector after launching its own prop platform, Atmos. Dubbed Atmos, the company launched a new website, atmos.tradetaurex.com, for the platform, mentioning that it is already live and in the testing phase ahead of its official launch.More Companies Join Prop TradingBesides that, the founder of IronFX, Markos Kashiouris, also expanded its operations in the retail trading industry with the introduction of a proprietary trading platform, Ultimate Traders.? Something big is coming… ?Imagine trading on a whole new level—where every tool, every move, is designed to elevate your experience. Something powerful is on the horizon, and it’s set to change the way you trade forever. Are you ready? Stay tuned. #TradingRevolution pic.twitter.com/klxt00OcEx— Taurex (@tradetaurex) November 5, 2024According to the company, the new offering is operated by the UK-registered company Ultimate Traders Evaluation Ltd, which was started in February and has Kashiouris as the majority shareholder.Elsewhere, prop firm TradersYard recently named Manuel Sonnleithner its new CEO. Sonnleithner has more than 10 years of experience in the trading industry. Prior to his new role, he worked as the COO of AgenaTrader and co-founded TradersYard with Gilbert Kreuzthaler. This article was written by Jared Kirui at www.financemagnates.com.

Bitcoin has repriced rapidly since the US election result, in a move that some observers are calling the Trump trade, while others assert that gains were overdue anyway. And there seems to be truth in both points of view: the bitcoin halving cycle and BTC’s previous months-long sideways movement both pointed to an incoming bullish period, while rate cuts and increased liquidity are always fuel for bitcoin. At the same time though, the resolving of the election in favor of Donald Trump, by a very clear margin, looks like the emphatic catalyst that has kicked off that anticipated bullishness in explosive fashion. This move has seen BTC rise to new all-time highs with a price currently around the $90,000 mark, and trading is occurring amid positive speculation around Trump’s many pro-crypto pledges, including the possibility of a strategic bitcoin reserve, and a change of leadership at the SEC that should end the Commission’s hostility towards the crypto industry. However, it’s not only BTC that has been making strong moves, with spot ETH ETFs and many smaller coins also reacting sharply to the political changes now taking place in America.Ethereum ETFs Wake UpETH may be the second largest crypto by market cap, but it has underperformed this year in comparison to BTC, and also when placed side by side with some other Layer-1 blockchains, most notably Solana. Additionally, the spot ETH ETFs that launched in July had a conspicuously slow start when compared with the spot BTC ETFs that launched earlier in the year. However, those Ethereum funds finally started to move after the election, and since Trump's win was confirmed, the ETH ETFs have seen a cumulative $796.2 million in net inflows during the period from November 6th to November 13th. That said though, the price of ETH has yet to catch up with BTC in terms of yearly gains so far.DOGE and Other Memecoins Make MovesSecond only to the positivity around BTC–the central mover from which the rest of the crypto market derives its energy–the next greatest levels of market exuberance are currently to be found further out along the risk curve, in the world of memecoins. From the outside, these tokens–much like NFTs a few years ago–are difficult to get a handle on. Memecoins have zero utility and yet they are currently delivering some enormous returns, and what’s more–as the lines blur between crypto, current affairs, and traditional finance, we can now–remarkable as it might sound–find memecoins being referenced at the very highest levels of political leadership.This is apparent in plans from the incoming Trump administration to establish an office purposed to streamline government bureaucracy, to be headed by Elon Musk and Vivek Ramaswamy, and which is to be named the Department of Government Efficiency, or D.O.G.E for short. Musk is famously a long-time fan of DOGE the memecoin, which is the oldest meme token around and has soared in market cap from around $22 billion pre-election to around $60 billion now.Over the last 2 years, the Supreme Court has ruled that the administrative state is behaving in wildly unlawful ways. But slapping the bureaucracy on the wrist won’t solve the problem, the only right answer is a massive downsizing. https://t.co/EfdJzd9XuT— Vivek Ramaswamy (@VivekGRamaswamy) November 13, 2024 What’s more, memecoins are increasingly making it onto major exchanges for spot trading, with Robinhood this week adding the Ethereum-based memecoin PEPE, and Coinbase listing PEPE and Solana-based token WIF, having previously only listed DOGE, SHIB, and BONK from the memecoin sector. For the moment then, we’re seeing a barbell of interest: bitcoin is rising as a form of legitimized digital gold with institutional demand, while at the other tip, memecoin gains indicate consumer demand for the kind of rapid-fire, decentralized casino that only crypto can provide.Robinhood Brings Back SOL, XRP and ADAAs well as listing PEPE, it’s notable that this week also saw Robinhood relisting alternative Layer-1 tokens SOL, XRP, and ADA for spot trading. These tokens were all withdrawn from Robinhood in 2023, at a time when there was legal pressure on the crypto industry from the SEC, and so the reappearance of these coins signals a significant shift. During election campaigning, Trump pledged to end anti-crypto actions from the authorities, and he is surrounded by crypto advocates, which on the whole adds up to an emerging new environment in which legal wrangles between the SEC and the crypto industry may become a thing of the past."Bitcoin is going to the moon" - Donald Trump pic.twitter.com/QTkg5UkJzR— Altcoin Daily (@AltcoinDailyio) November 7, 2024 When the dust settles then, one question raised might be as to exactly why the SEC under still-current Chair Gary Gensler waged war on crypto, but for now all eyes are on the future: it’s not yet clear how crypto and traditional finance will eventually co-exist, but what appears to be occurring is a recategorization of the entire crypto industry, which no longer looks vulnerable to regulatory chokeholds in the US. At the very least, that’s how it’s trading right now: with two months until Trump’s inauguration, and while the President-elect works with a strongly pro-acceleration, tech-friendly inner team. This article was written by Sam White at www.financemagnates.com.

As Bitcoin (BTC) trades near record highs in 2024, the cryptocurrency market watches with strong positive sentiment as BTC inches closer to the coveted $100,000 mark. Since its inception in 2009, Bitcoin has seen dramatic price movements, but the current bull market suggests a six-figure price target is within reach. What is more, it can happen in the next few weeks.Bitcoin Price Prediction: From Bear Market to New All-Time HighThe crypto industry has witnessed unprecedented growth, with Bitcoin reaching a new all-time high of $93,495 on Wednesday, according to Coinbase data. Contributing to Bitcoin's surge are multiple factors, including Trump's presidential victory and BlackRock's institutional involvement. The spot Bitcoin ETFs have seen record inflows, demonstrating growing interest from both retail investors and institutional investors.Bitcoin has had an impressive run in 2024, gaining nearly 30% in recent weeks and surpassing $93,000. Analysts from various crypto and financial research firms have shared predictions on Bitcoin’s price for year-end and beyond, fueled by the recent rally and favorable economic conditions.Ryan Lee of Bitget Research believes the cryptocurrency’s November momentum could propel it past $100,000, citing historical patterns and post-halving cycle trends. “If history repeats itself, Bitcoin’s projected growth could take it well above $100,000 by month-end,” Lee remarked.Expert Analysis and Year-End PredictionsMeanwhile, Bitfinex analysts attribute Bitcoin’s bullish momentum to Trump’s presidential victory and the potential for continued interest rate cuts in the U.S. “We expect Bitcoin to accumulate and range, with $100,000 in a few months,” they explained, adding that Trump's administration is likely to support pro-crypto policies, boosting cryptocurrency adoption among institutional investors.Prediction Markets and Analyst ViewsThe following table compiles various Bitcoin price forecasts from multiple analysts, highlighting their predictions and underlying rationales:Note: These forecasts are based on analyses and opinions as of November 2024 and are subject to change with market dynamics.The Role of Trump’s Election and Institutional Inflows in Bitcoin’s SurgeTrump’s victory has created significant excitement in the cryptocurrency market. Analysts, including Fadi Aboualfa from Copper.co, argue that the election could set a supportive regulatory backdrop for Bitcoin. “Trump’s win has provided market stability, helping institutional investors show renewed interest in Bitcoin,” Aboualfa said, noting that Bitcoin ETFs saw $2.6 billion in inflows within days of the election. Copper.co’s forecast suggests that spot Bitcoin ETFs could drive the price closer to the $100,000 level by early 2025.With Bitcoin ETFs garnering interest from major institutions such as BlackRock, Pav Hundal from SwyftX sees an end-of-year target of $103,000. “If you apply a Fibonacci extension, Bitcoin could trade at $103,000 by year-end,” Hundal explained. Institutional inflows are likely to support higher price discovery, aligning with broader crypto adoption among investors and financial institutions.Bitcoin in 2024: Price Action and Market DynamicsWhile most analysts are bullish, others warn that volatility could pose challenges in the short term. Crypto.com’s CEO Kris Marszalek points out that Bitcoin’s leverage ratios have reached unsustainable levels.Leverage needs to be cleaned up before attack on $100k. Please manage your risk carefully.— Kris | Crypto.com (@kris) November 12, 2024“Leverage needs to be cleaned up before an attack on $100K. Please manage your risk carefully,” Marszalek cautioned, referring to Bitcoin’s high open interest across exchanges. Similarly, Ki Young Ju of CryptoQuant predicts potential pullbacks, setting his price target for Bitcoin at $58,974, well below the year-end goal others envision.I expected corrections as BTC futures market indicators overheated, but we're entering price discovery, and the market is heating up even more. If correction and consolidation occur, the bull run may extend; however, a strong year-end rally could set up 2025 for a bear market,…— Ki Young Ju (@ki_young_ju) November 10, 2024Crypto Exchanges and Trading ActivityThe price discovery process has intensified across major crypto exchanges, with:Record high open interestStrong trading volumesDecreased volatilityPositive price movementsInstitutional AdoptionBlackRock's spot Bitcoin ETF has become a freight train of institutional inflows, suggesting that Bitcoin could reach new heights. The former president Donald Trump's victory has created a crypto-friendly environment, potentially easing regulatory concerns.The upcoming $11.8 billion options expiry on December 27 is also expected to influence Bitcoin’s price movement. Analysts expect options market dynamics to add to Bitcoin’s volatility, as bulls and bears vie to shape the year-end outcome. Depending on market conditions, Bitcoin’s price could remain near $88,000 or surge above $90,000, leading to significant options-based adjustments.Price Movements Since Previous HalvingThe blockchain data shows significant changes since the previous halving:New bitcoins entering circulation at a reduced rateIncreased demand for BitcoinGrowing institutional interest on BitcoinPrice surge exceeding previous bull market cyclesDespite warnings, sentiment in prediction markets remains largely optimistic for Bitcoin’s future. Lennix Lai of OKX sees potential for Bitcoin to surpass $100,000 by year-end. “The crypto market is showing signs of a paradigm shift, which could push BTC beyond 100k,” Lai commented. According to eToro analyst Josh Gilbert, the six-figure mark is within reach, given the combination of institutional demand and cooling interest rates.Future Outlook and Market SentimentLong-term Bullish FactorsAmong investors, there's a strong consensus about Bitcoin potentially reaching the 100K mark before the end of this year. Views and opinions from leading analysts suggest several catalysts:Interest rate cut in SeptemberContinued ETF inflows into BitcoinGrowing retail investors participationStrong positive sentiment in the U.S. marketBen Simpson of Collective Shift and Mati Greenspan from Quantum Economics add to the bullish outlook, with both predicting sustained upward movement for Bitcoin. “Bitcoin’s limited supply and growing demand are key factors driving this bull run,” Simpson noted, pointing out that Bitcoin’s limited supply has been a strong driver for institutional and retail investors alike. Greenspan sees the rally as a longer-term trend, with the potential to surpass prior cycles.Bitcoin just hit another all time high.Are you tired of winning yet?!— Mati Greenspan (@MatiGreenspan) November 11, 2024Price Action and Trading DynamicsThe current price action shows Bitcoin trading near all-time highs, with:Predictions for Bitcoin’s future range from conservative forecasts of $80,000 to highly optimistic targets of $100,000 or more. Analysts remain focused on Bitcoin ETFs, institutional inflows, and market dynamics as key factors contributing to Bitcoin’s potential. Tom Wan, an independent analyst, echoes this view, noting that favorable regulation and inflows into Bitcoin could lift prices above $100,000.Cryptocurrency Market OutlookThe broader cryptocurrency market appears poised for significant growth. Bitcoin's price movements have created a new asset class that could fuel further adoption. At the time of publication, market indicators suggest:Sustained institutional demandEnhanced market maturityReduced volatility compared to 2021Positive price action across crypto exchangesThe consensus across the crypto industry is that Bitcoin’s price trajectory is robust, though subject to fluctuations. Since its inception in 2009, Bitcoin has witnessed multiple bull markets, with each halving cycle intensifying demand due to Bitcoin’s reduced issuance rate. This cycle, combined with the anticipated impact of Trump’s pro-crypto policies, appears to support higher price movements.Conclusion: Can Bitcoin Reach and Hold $100K?With strong positive sentiment and increasing interest from institutional investors, Bitcoin’s year-end rally seems poised to reach new all-time highs. Yet, experts also warn of potential corrections, especially given high leverage and volatility. The upcoming options expiry could shape Bitcoin’s price action as the year concludes, making the $100K milestone achievable yet challenging. As prediction markets indicate a bullish long-term outlook, Bitcoin’s path to $100K hinges on the balance between institutional support and market stability, marking 2024 as a pivotal year for the cryptocurrency market.Bitcoin Price, FAQHow high can Bitcoin realistically go?Bitcoin’s price potential is influenced by several factors, including institutional adoption, regulatory developments, and technological advancements. Realistic estimates by analysts suggest that, under favorable economic conditions and continued adoption, Bitcoin could reach between $100,000 and $500,000 in the coming years. The cryptocurrency’s fixed supply and increasing acceptance as a “digital gold” contribute to predictions of significant long-term growth, though extreme highs remain speculative and depend on global economic and market shifts.What will Bitcoin be worth in 2030?By 2030, Bitcoin’s value is projected by some analysts to be in the range of $250,000 to over $1 million. This range is based on assumptions that institutional investors, corporations, and even governments may increasingly adopt Bitcoin as an asset. However, high volatility and regulatory uncertainties remain key factors that could influence its price trajectory over the decade.Will Bitcoin reach 100K in 2025?Many experts believe Bitcoin could reach $100,000 by 2025, as recent halving cycles, growing institutional interest, and potential favorable regulations could support this target. While some analysts are optimistic about reaching this level within the next year or two, others caution that volatility and market corrections could delay the timeline.How high will Bitcoin go in 2050?Predicting Bitcoin’s price in 2050 involves a high degree of uncertainty. However, assuming continued global adoption and fixed supply, long-term forecasts suggest it could reach between $500,000 and several million dollars. If Bitcoin continues to establish itself as a digital asset class and experiences growing demand, it may achieve such values, though this remains speculative and contingent on broader economic and technological changes. This article was written by Damian Chmiel at www.financemagnates.com.

Not just content with dominating crypto, memecoins are taking over the world as they make their mark on everything from pop culture to US governmental departments. Determined not to be left behind amidst the memecoin mania, creators within the TON ecosystem have upped their game lately, culminating in new memecoin NIKO being listed on MEXC after a record-breaking 10-day run.$NIKO Meets MEXCMEXC has earned a rep during the current cycle for listing up-and-coming memecoins first. Its combination of shrewd picks and a willingness to look beyond the usual candidates to find outliers that have real momentum and cult appeal has resulted in NIKO making the grade. Set to go live on November 14, the TON memecoin will be available as a perpetual futures trading pair matched with USDT.NIKO has been on a remarkable run that’s demonstrated that anything Solana memecoins can do, TON candidates can match. While the world was simping over $PNUT in the last 10 days, shrewd TON traders were loading up on NIKO, whose ascent has been no less meteoric. After launching on TONPump, NikolAI went on a remarkable run that saw it surpass $100M market cap in 11 days. NikolAI, to give the project its full name, was developed by HOT Protocol and taps into the current craze for AI tokens that allow their autonomous operators to craft content, post it to X, and in some cases dictate project development and create original art. We’re in the midst of an AI takeover and trench traders can’t get enough of it.DWF Labs Backs NIKOPredictably, DWF Labs, the market maker and web3 investor extraordinaire, has its tentacles into NIKO. Popular wallet analysis service Lookonchain spotted a DWF wallet receiving 10M NIKO, around 1% of the coin’s total supply, for market making purposes. NIKO is also believed to be one of its portfolio projects. While it’s hard to find an ecosystem that DWF doesn’t have exposure to, its team appears to be particularly bullish on TON.On November 13, DWF’s Andrei Grachev all but confirmed his firm’s thesis, speculating on the start of a new memecoin season on TON. It’s safe to say that should this prediction come to pass, DWF Labs will be on the coal face helping to provide liquidity and other value adds for the TON runners that reach critical mass, allowing them to find new exchanges and users willing to keep the party going.TON Takeover Gathers PaceThe Open Network has already heated up a couple of times this year, most recently in summer when onchain activity picked up as millions of Telegram users onboarded and started playing around with mini dapps – web3 applications natively integrated into Telegram. It’s now undergoing another renaissance, buoyed by the tailwinds that are lifting all of crypto right now, especially those chains that are retail friendly and memecoin-rich.TON has the network effects, the users, and the delivery format all locked down. The only thing it’s been somewhat light on, until recently, was quality memecoins. NIKO has put paid to that, demonstrating that the intersection of AI and memecoins won’t be limited to Solana: TON’s just as capable of stepping up. With MEXC listing secured and almost certainly other CEXs on their way, NIKO has given hope to the next crop of TON creators. 10 days from now, who knows what new narratives will have been born and elevated into bona fide blue chips? This is crypto after all, where anything’s possible. This article was written by FM Contributors at www.financemagnates.com.

London-headquartered Fortrade, a contracts for differences (CFDs) broker, ended 2023 with a turnover of £19.7 million and a net profit of £1.05 million, according to the latest Companies House filing. While turnover declined by 39 per cent, the company increased its profits by 27.4 per cent year-over-year.Another Profitable Year for FortradeNotably, Fortrade witnessed a revenue decline for the first time in three years. Its revenue peaked in 2022, reaching £32.3 million. The latest drop in revenue is also the second time the broker has faced a challenge in its growth trajectory—the only other time its revenue declined was in 2019, when it generated £15.5 million compared to the previous year’s £17.7 million.Despite the revenue decline, the group managed to reduce its administrative costs from £4.4 million to £3.5 million. It also benefited from £80,156 in interest income. Additionally, it received a tax credit last year, with pre-tax profits at £1 million compared to £857,103 in the previous year.Opportunities in Core Markets“The Group continued to look for opportunities overseas although the directors expect that the Group’s future profitability will be primarily from its existing core markets,” the filing stated.Further, the company also managed to strengthen its balance sheet, increasing its net assets to £12.5 million from £7.5 million.Established in 2013, Fortrade offers CFD trading services with forex, stocks, indices, commodities, and US treasuries. It targets both retail and institutional clients. Although headquartered in London, it operates globally with licences from regulators in countries including Canada, Australia, Cyprus, and Mauritius.However, earlier this year, its subsidiary in Belarus lost its authorisation in the country about five and a half years after receiving the licence. Apart from its trading operations, it also operates a back office in Israel. This article was written by Arnab Shome at www.financemagnates.com.

The third month of dollar declines and testing 18-month lows has clearly discouraged US investors from seeking investment opportunities in financial markets. According to the latest September 2024 data, retail trader deposits in the country fell for the third consecutive month, losing over 5% from this year's highs.FX Deposits in the US Hit June LowsAccording to the latest report from the Commodity Futures Trading Commission (CFTC) for September 2024, the total value of FX deposits in the US amounted to $526.8 million, falling almost 1% from $530 million reported a month earlier. These are currently the lowest values in three months, though still higher than last year's result of slightly over $515 million.Although the dollar is performing well now, September told a different story. Just two months ago, its index (DXY) was testing over year-long lows, which clearly affected investor activity.The decline in investor activity is also confirmed by volume data from the US exchange Cboe, where spot volumes fell below $1 trillion, reaching $981 billion. Although September had one less trading day than August, the average daily volume (ADV) also decreased from nearly $50 billion to $46.7 billion.Growth Only at Charles Schwab and Gain CapitalSimilar to the previous month, only two of the six reporting entities showed growth. Charles Schwab recorded a modest increase in deposits for the second time, growing by 2.5% from $63.7 million to $65.3 million.In September 2024, Gain Capital also achieved this feat, noting a modest jump of 0.8% from $202.9 million to $204.6 million.Interactive Brokers experienced the strongest declines both in nominal and percentage terms. The broker's deposits shrank by $5.1 million or over 15%.Financial Reporting Obligations for US Forex BrokersThe Commodity Futures Trading Commission (CFTC) oversees the financial transparency of Forex brokers in the United States. Specifically, it requires Retail Foreign Exchange Dealers (RFEDs) and Futures Commission Merchants (FCMs) to submit comprehensive financial reports on a monthly basis.These financial reports must detail critical metrics, including: adjusted net capital, client assets and retail forex obligations.Retail forex obligations reflect the total assets that FCMs or RFEDs hold on behalf of their clients, factoring in any profits or losses incurred. This requirement applies to all 62 registered RFEDs and FCMs in the U.S., covering firms like Charles Schwab, Gain Capital, IG, Interactive Brokers, OANDA, and Trading.com.By mandating these disclosures, the CFTC aims to enhance industry transparency and allow for better public insight into the financial health of these firms.Recently, FCMs have been observed making significant investments in advanced front-end technologies. These upgrades are intended to boost operational efficiency and help these firms stay competitive within the evolving derivatives market. This article was written by Damian Chmiel at www.financemagnates.com.

The Finance Magnates London Summit (FMLS:24) will formally kick off next week in Old Billingsgate on November 18-20! Attendees can expect to meet, network, and engage with the industry’s leading brand authorities, C-suite executives, and big-name speakers, including Magnates Group team at Booth #3.Hosting the event for the thirteenth year, Finance Magnates Group will be on-site to help your brand not only grow but connect with industry leaders. This includes plenty of versatile products and marketing strategies designed to amplify and grow brand visibility and lead conversion:Reviews & listings - Control your brand's image, let reviews define your online presence.Targeted email outreach - Connects your brand directly with your audience.Content 360 - Don't just join the conversation lead with your brand!Ad spotlight - Increases brand visibility and web traffic with strategically placed banner ads.Interviews - Position your brand at the core of topics aligned with your business and values.Big data reports - Gain in-depth analysis and insights with our intelligence reports.Intelligence - Catch on the latest insider trendsCustomer reports and Forex Live RSSIn addition, the group’s expert staff will be available to speak to all participants who can explore the group’s innovative advertising solutions are designed to help maximize brand engagement. These types of premium events provide invaluable opportunities for sponsorships and exhibitors, with can make any brand shine. A full list of sponsors and exhibitors for London Summit can be accessed via the following link.If you have not already done so, online registration is still live, as prospective participants are encouraged to reserve their seat today and beat the queues and wait at the venue.Don’t miss out on the opportunity to drive your business forward with the latest insights and innovations in the financial sector. Schedule a personalised meeting with our team during the FMLS:24 to help increase your brand’s presence for an exclusive video interview.Make sure to head over to Booth #3 during the two full days of exhibition and see what Finance Magnates Group can do for you and your business! This article was written by Jeff Patterson at www.financemagnates.com.

The third quarter of 2024 unveiled a tale of strategic divergence between two of Wall Street’s Bitcoin Miners, as Hut 8 Corp.(NASDAQ: HUT) and Bitfarms Ltd. (NASDAQ: BITF) navigated through challenging market conditions with notably different approaches and outcomes. This fits well into the broader picture of an industry that, despite rising revenues, could not achieve profitability in the past quarter.Two Bitcoin Miners from Wall Street Chart Divergent Paths in Q3 2024While both companies demonstrated resilience in a post-halving environment, their financial results and strategic initiatives painted contrasting pictures of how to succeed in the evolving digital asset mining landscape.Hut 8 emerged from the quarter with a positive narrative, posting revenue of $43.7 million and achieving a modest net income of $0.9 million, compared to a net loss in the same period a year earlier. The company's success can be attributed to its disciplined operational approach and diversification into high-performance computing and AI infrastructure. Their energy costs showed rising efficiency, dropping 33% year-over-year to $28.83 per MWh, while maintaining a competitive mining cost of $31,482 per Bitcoin.“As of October 31, 2024, our development pipeline exceeds 5 gigawatts, with more than 1.5 gigawatts under exclusivity,” commented Asher Genoot, CEO of Hut 8. “Three projects from this pipeline are particularly promising for large-scale AI data center projects. Collectively, they represent over 430 megawatts of capacity, with power delivery expected to be available before the end of 2025.”In contrast, Bitfarms generated slightly higher revenue at $45 million but recorded a substantial net loss of $37 million. The company's aggressive expansion strategy and fleet upgrade program, while promising for future growth, resulted in higher operational costs with their total cost of production per Bitcoin rising to $52,400 in Q3 from $47,300 in the previous quarter. Despite these challenges, Bitfarms demonstrated strong operational growth, increasing its hashrate to 11.9 EH/s from 10.4 EH/s in Q2.“As previously communicated, 2024 has been a transformative year for Bitfarms,” stated Bitfarms’ CEO Ben Gagnon. “Year-to-date, we’ve refreshed nearly our entire fleet of miners, significantly improving our mining economics, acquired one new site and entered agreements to acquire two additional new sites in the U.S.,Both companies maintain robust balance sheets, though with different approaches to treasury management. Hut 8's holdings of 9,106 Bitcoin valued at $576.5 million, combined with $72.9 million in cash, represent a significant war chest. Bitfarms maintains a more conservative position with 1,147 Bitcoin ($73 million) and an equivalent amount in cash, reflecting a different risk management strategy.Top Wall Street Bitcoin Miners Cannot Stay ProfitableOn Wednesday, Finance Magnates reviewed the quarterly reports of three other publicly traded miners: Marathon Digital Holdings (NASDAQ: MARA), TeraWulf Inc. (NASDAQ: WULF), and HIVE Digital Technologies (NASDAQ: HIVE). It seems that so far, only Hut 8 has managed to reach modest profitability, while the remaining companies are in the red. MARA, the largest public Bitcoin miner by market capitalization, recorded a significant net loss of $124.8 million in Q3 2024, despite generating $131.6 million in revenue. The company’s operational expenses rose by $40 million over the quarter, overshadowing its 34.5% year-over-year revenue growth.TeraWulf reported a net loss of $22.7 million, widening from $19.1 million in the same period last year. Although TeraWulf achieved a 42.8% increase in revenue, reaching $27.1 million, its Bitcoin production dropped by 43.4% to 555 BTC. The decline is largely attributed to increased network difficulty and the impact of the Bitcoin halving event in April.HIVE showed a pre-tax net loss of $7.3 million, an improvement from the $22.9 million loss reported in the prior year. The company generated $22.6 million in revenue, with a substantial portion driven by its diversified high-performance computing services.“As Bitcoin reaches new all-time highs, HIVE is positioned to capitalize on the momentum for green energy and digital assets worldwide,” commented Frank Holmes, HIVE’s Executive Chairman. “With recent regulatory developments following the U.S. election, the environment for digital assets and Bitcoin mining is more favorable than ever.”Despite higher production reported by the largest publicly listed miners in Q3 and October, overall mining revenues declined for the fourth consecutive month. The gross profit from daily block rewards fell by 2%, hitting its lowest point in recent records. Miners earned an average of $41,800 per exahash per second (EH/s) from daily block rewards, marking a 1% drop compared to September. This article was written by Damian Chmiel at www.financemagnates.com.

Singapore's online trading landscape is undeniably shrinking. The active trader population declined for the third consecutive year despite reaching unprecedented levels of client satisfaction.Singapore Online Trading Base Contracts Despite Record Satisfaction LevelsThe latest Singapore Online Investing Report by Investment Trends reveals that the number of active online traders has decreased to 248,000, down from 264,000 in September 2023. This decline brings the trading population back to levels last observed in 2018, marking a significant shift in the market dynamics.What portion of this consists of FX/CFD traders? Although current data is lacking, a previous Investment Trends report from two years ago suggested that 43,000 retail investors in Singapore engaged in contracts for difference, representing one in five of all active online traders in the country."The online investing market in Singapore is undergoing a recalibration," explains Lorenzo Vignati, Associate Research Director at Investment Trends. "While the decline in active investors poses challenges, the path to growth lies in brokers' ability to effectively re-engage the vast dormant client base."Despite the shrinking user base, client satisfaction has reached an all-time high. However, investors are increasingly demanding enhanced features, with 35% citing live pricing as crucial, while 32% prioritize enhanced security measures. Additionally, 28% of traders express interest in sophisticated portfolio risk management tools.“Client satisfaction is at record levels, but the message from investors is clear: they want more,” explains Vignati.Singapore has emerged as a significant market for brokers, as evidenced by IG Group's fiscal year 2024 financial report. The country was the only jurisdiction to record higher revenue last year, with increased trading activity by larger clients producing a 6% increase in income. In its financial results, IG noted that Singapore "delivered stronger trading revenue reflecting higher volumes from some of our largest traders."Traders Want EducationThe report highlights a strong emphasis on education within the trading community. An impressive 51% of online investors engage with educational content daily, while 21% consider themselves proficient or expert traders. This high engagement level signals a robust appetite for continuous learning and professional development among Singapore's trading community."Education has become a key differentiator in this market," notes Vignati. "The appetite for financial knowledge is substantial, especially among newer investors eager to build their confidence."A similar outcome was shown in a separate report for the French market, where high demand for education was also observed, particularly among new and less experienced investors. The same situation was noted in the Italian market.The findings suggest that brokers who can adapt to evolving investor expectations while providing comprehensive educational resources will be better positioned to capitalize on future growth opportunities. “For brokers, investing in high-quality educational content presents a powerful way to deepen engagement and strengthen client relationships over the long term,” adds Vignati.The focus has clearly shifted from quantity to quality, with successful platforms needing to balance advanced features with user satisfaction and educational support. This article was written by Damian Chmiel at www.financemagnates.com.

Institutional investors are demonstrating increased confidence in digital assets, with 57% planning to boost their cryptocurrency allocations despite ongoing market volatility, according to Sygnum's Future Finance 2024 survey released today (Thursday).Institutional Investors Bullish on CryptoThe survey, which polled over 400 investment professionals across 27 countries, reveals a significant risk appetite among institutional investors, with 63% assessing their risk tolerance as high or very high. More than half of respondents maintain portfolio allocations exceeding 10% in digital assets.Single token investments remain the preferred strategy at 44%, closely followed by actively managed exposure at 40%. The primary motivation for crypto investment is exposure to the digital asset megatrend (62%), while portfolio diversification (52%) and macro hedging (45%) are also significant drivers.“Like the previous year, 2024 was one of new developments and watershed moments for crypto and the broader digital asset ecosystem,” commented Martin Burgherr, Sygnum Bank Chief Clients Officer. “Among the most important is perhaps the approval and the subsequent launch of the US Bitcoin Spot ETFs, which has the potential to accelerate the institutional adoption of digital assets.”Finery Markets' report for the first half of 2024 also confirms institutional interest in the cryptocurrency sector. It showed that volumes increased by 95% year over year, driven by ETF approvals. Furthermore, Nickel Digital's research from last month revealed that 92% of asset managers expect growth in funds focused on digital assets. Additionally, nearly 93% of surveyed financial institutions believe more traditional firms will enter the crypto space within three years. ETFs Adds Long-Term CredibilityThe approval of Bitcoin and Ethereum spot ETFs has significantly boosted market confidence, with 71% of respondents expressing increased trust in the crypto space. Lucas Schweiger, Digital Asset Research Manager at Sygnum Bank, commented for Finance Magnates that these ETFs provide "a trusted, regulated entry point to Bitcoin and Ethereum" while lending "significant legitimacy to the asset class.”According to Schweiger, leading TradFi issuers and their involvement also adds credibility and long-term commitment to the industry. He forecasts that ETFs will attract a new wave of investors and institutional flows (especially those new to crypto)“This will / has led to a spillover effect, with more Bitcoin and Ethereum spot ETF approvals around the world,” Sygnum’s Digital Asset Research Manager added.Sygnum Bank achieved profitability in the first half of 2024 and amassed $4.5 billion in client assets, underscoring the growing interest of professional investors in the cryptocurrency sector. The bank's client base is approaching 2,000 institutional and professional investors, reflecting its expanding influence in the digital asset market.Shifting Investment PreferencesLayer-1 protocols dominate investor interest at 76%, while Web3 infrastructure has emerged as the second most attractive sector at 55%. DeFi interest has declined to 33%, potentially due to security concerns and the more than $2.1 billion lost to vulnerabilities in 2024.In the 2023 survey, real estate was the most popular tokenized asset of interest. This has now been overtaken by equity (44%), corporate bonds (41%), and mutual funds (40%). However, this might change too.“The upcoming rate cuts (lower treasury yields) and higher DeFi yields (increased crypto market activity) could shift interest from government bonds to higher risk altcoins,” explained Schweiger. “Another interesting new trend is transforming Bitcoin into a yield-bearing asset (through staking), potentially competing with traditional yields in the near future.”Asset volatility has replaced regulatory uncertainty as the primary barrier to institutional adoption, cited by 43% of respondents. Security and custody concerns remain significant at 39%, while 81% indicated that better information would encourage increased investment.In late October, Sygnum announced the successful conversion of its Yield Core crypto fund into a Luxembourg Reserved Alternative Investment Fund (RAIF) structure. This transition aims to enhance the fund's appeal to institutional investors by providing a regulated framework. Managing nearly $30 million in assets, the fund focuses on yield-generating strategies within cryptocurrency markets. This article was written by Damian Chmiel at www.financemagnates.com.

Crypto.com has enhanced its presence in Australia with its latest acquisition of Fintek Securities, a brokerage service and trading company holding an Australian Financial Services (AFS) licence.Announced today (Thursday), the acquisition of the Australian Securities and Investments Commission-regulated company will allow the cryptocurrency company to offer deposit products, derivatives, securities, foreign exchange, managed investment schemes, and other products.Upcoming Product Details Remain UnknownAlthough Crypto.com highlighted that the upcoming products in Australia will be available only to “eligible users,” it did not define the target group. The details of the launch of the new services and products have yet to be revealed.While offering services to Australians, the exchange must define the target market properly, which is mandatory under the existing Design and Distribution Obligations. The local regulator, ASIC, also took action against multiple trading platforms. Last August, an Australian federal court, as well as the local operator of Kraken, another crypto exchange, noted violations of local rules related to offering fiat-based margin trading products to local customers.“The path of the Crypto.com roadmap is to expand our offering ambitiously by providing customers with the most comprehensive set of financial services, and this acquisition is the latest step in that direction,” said Kris Marszalek, CEO of Crypto.com. “The goal is to create one destination for all financial services where users can simplify their experience and maximise rewards.”Crypto.com’s Expansion ContinuesThe acquisition, which cements Crypto.com’s presence in Australia, came only over a month after it acquired United States-based Watchdog Capital, a Securities and Exchange Commission-registered broker-dealer. That acquisition enabled the crypto exchange to offer equities and equity options to “eligible” traders in the US.Interestingly, Crypto.com also secured an Australian licence with the acquisition of The Card Group in late 2020. However, the crypto platform has since removed the announcement of that acquisition from its website, signalling a possible issue with the deal. This article was written by Arnab Shome at www.financemagnates.com.

Exinity Group has announced a partnership with trading technology provider TraderEvolution. This collaboration aims to enhance Exinity’s product development by integrating TraderEvolution’s multi-asset technology into its trading platforms. The integration will support Exinity’s various trading and investing brands over the next year.Exinity Integrates New TechnologiesExinity, established in the late 1990s, according to the firm, it aims to develop trading solutions for individuals. Its brands include the FX broker FXTM, the AI-driven investing app Nemo, and the Web3 platform PiP World, which focuses on gaming and edtech.Alison Cashmore, Exinity’s Group Chief Commercial Officer, emphasized the company’s goal to provide financial freedom through innovative trading and education services, particularly in fast-developing economies. “We’re passionate about enabling individuals in the fast developing economies of the world to access financial freedom through innovative investing, trading and education experiences,” Cashmore said.“We’re excited to work with Trader Evolution to help power our rapidly growing portfolio of creative financial services.”Earlier, Exinity Group announced the launch of Exinity Connect at the Finance Magnates Summit 2023 in London. Exinity Connect aims to provide liquidity and trading capabilities to institutions of various sizes, with a focus on personalized service backed by over 25 years of experience. The platform offers access to Tier-1 banks and non-bank market maker liquidity, enabling broker-dealers, family offices, and hedge funds to benefit from deep market access and fast execution.TraderEvolution Supports Exinity ExpansionTraderEvolution provides a multi-asset trading platform that focuses on flexibility, scalability, and global market connectivity. It serves banks and brokers with tailored solutions for financial services.Roman Nalivayko, CEO of TraderEvolution, highlighted the significance of the partnership, noting the flexibility and scalability of their core trading engine."We are thrilled to announce Exinity's implementation of TraderEvolution's core back-end multi-asset trading platform. This integration represents a significant milestone for both companies, and further demonstrates the limitless possibilities that our core trading engine provides for brokers to work in different directions, offering unparalleled flexibility and scalability,” commented Nalivayko. “Exinity is an industry-renowned electronic trading company, whose choice to implement the TraderEvolution platform further demonstrates our position as a leading provider of advanced trading infrastructure,” concluded Nalivayko. This article was written by Tareq Sikder at www.financemagnates.com.