80–100 Prop Firms Shut Down in 2024Breaking down this week's key events is a key highlight of our quarterly intelligence report that showed that the prop trading industry experienced its most dramatic shake-up yet. Over the past year, between 80 and 100 proprietary trading firms have shut down, challenge pass rates have plummeted, and the average trader’s investment has dropped by 50%. Yet, amid the chaos, a few dominant players are emerging stronger than ever.According to estimates gathered by Finance Magnates Intelligence, between 80 and 100 proprietary trading firms may have disappeared from the market in 2024. This aligns with data presented by FunderPro mid-year, which estimated that the number had already reached around 50 firms at that time.SEC Drops Gemini ProbeIn the US, the crypto exchange Gemini became the latest beneficiary of a new dawn in crypto regulations. The U.S. Securities watchdog ended its investigation into Gemini without filing enforcement charges this week, but the exchange’s Co-Founder, Cameron Winklevoss, isn’t letting it go. In a fiery post on X, Winklevoss condemned the agency’s handling of the probe, arguing that it inflicted massive financial and economic harm. He now demands consequences, including public firings and financial recompense for companies targeted by similar investigations.On Monday, the SEC informed our litigation counsel @JackBaughman27 that it has closed its investigation into @Gemini and will not be pursuing an enforcement action against us. This comes 699 days after the start of their investigation and 277 days after they sent us a Wells… pic.twitter.com/dTjg9CJXVl— Cameron Winklevoss (@cameron) February 26, 2025However, OKX pleaded guilty and settled with the US Justice Department by paying more than $504 million for offering services to US-based clients without obtaining a money transmitter license. The settlement was reportedly made with Seychelles-based Aux Cayes Fintech, which operates as OKX.The Biggest Crypto Heist In one of the biggest stories that dominated headlines in the crypto space this week, Bybit, the cryptocurrency exchange hacked on February 21, reportedly withstood an outflow of over $6.1 billion over the weekend. However, the exchange’s CEO announced that the platform replaced the $1.4 billion worth of Ether stolen in the attack.Bybit’s CEO, Ben Zhou, posted on X that his exchange “has already fully closed the ETH gap,” adding that “Bybit is again back to 100% 1:1 on client assets through Merkle tree.” He further noted that Bybit would soon publish an audited proof-of-reserves report.In response to the theft, Bybit launched a $140M Recovery Bounty Program, offering incentives to experts who help track and retrieve stolen assets. According to the investigation findings, the incident took place during a multi-signature transaction facilitated through Safe Wallet. A threat actor reportedly intercepted the process, altered the transaction, and gained control of the wallet.The attacker then transferred the funds to a separate wallet under their control. The colossal security breach caused a massive decline in the crypto space. Bitcoin, the top cryptocurrency, took a sharp dive, plunging to as low as $78K this week—depths it hasn’t plumbed in over three months.Saxo Bank Client Base Jumps 132%Away from the ever-volatile cryptocurrency space, online trading and investment platform Saxo Bank experienced an increase in its client base following an aggressive pricing overhaul, with new trading accounts soaring 132% in 2024 compared to the previous year. Moreover, the number of female clients has tripled.“Our pricing model reflects our commitment to providing best-in-class investment solutions at competitive rates,” said Andrew Bresler, CEO of Saxo UK. “Seeing such robust growth in our client numbers – both in the UK and globally across our markets – is a testament to the strength of our offering and attractive pricing.”Entering into an Agreement with a Liquidity Provider?Brokerages often focus on tighter spreads and better pricing when engaging a new liquidity provider (LP). However, liquidity agreements require careful review. Several factors must be considered when entering or renegotiating such agreements, whether with a Prime-of-Prime or Prime Broker.Firms should determine if their assets are segregated from the LP’s own funds and those of other clients. If there is no segregation, the jurisdictional rules and risks involved must be assessed. In cases of omnibus accounts, brokerages should consider the implications if another client in the pool becomes insolvent.Nvidia's Earnings SoarLastly, Nvidia has once again shown its dominance, reporting a notable $39.3 billion in revenue for the fourth quarter of fiscal 2025. That's a 12% uptick from the previous quarter and a staggering 78% leap from the same period last year. Net income didn't lag behind either, swelling to $22.1 billion, an 80% surge year-over-year. Lastly, AI dominated headlines again this week thanks to Nvidia’s earnings. For the quarter, GAAP earnings per diluted share was $0.89, up 14% from the previous quarter and 82% from a year ago. AI seems to have moved from just a hype into a money-making machine, and Nvidia is at the center of it all.Until Next Week! This article was written by Jared Kirui at www.financemagnates.com.

For nearly two decades, Skype connected people across the world with free internet calls, revolutionizing communication long before video conferencing became mainstream. But now, Microsoft is officially pulling the plug on the once-dominant service, confirming that Skype will no longer be available starting in May, according to an announcement on X today (Friday).Starting in May 2025, Skype will no longer be available. Over the coming days you can sign in to Microsoft Teams Free with your Skype account to stay connected with all your chats and contacts. Thank you for being part of Skype pic.twitter.com/EZ2wJLOQ1a— Skype (@Skype) February 28, 2025The Rise and Fall of SkypeLaunched in 2003 in Estonia, Skype quickly became a game-changer in global communication, allowing users to make free voice and video calls at a time when international calls were expensive. According to the announcement, the company has urged users to transition to Microsoft Teams. The platform’s success caught the attention of major corporations, with eBay acquiring it in 2005 for $2.6 billion. However, the partnership failed, and eBay reportedly sold most of its stake in 2009 before Microsoft purchased Skype for $8.5 billion in 2011, CNN Business reported.Despite its early dominance, Skype has struggled to maintain relevance amid growing competition. While the COVID-19 pandemic boosted video conferencing platforms like Zoom, Google Meet, and Cisco WebEx, Skype failed to regain its lost momentum. Over the years, rivals such as Apple’s FaceTime and Meta’s WhatsApp have also reduced their user base. Meanwhile, Microsoft has been investing heavily in Teams, which offers similar services but with more integration into Microsoft’s ecosystem.Microsoft Teams, Word, Excel, and more are coming to Apple’s Vision Pro at launch https://t.co/llndbhd1BA— The Verge (@verge) January 31, 2024What Happens Next?Microsoft has assured users that Skype logins will still work to access the free tier of Teams. However, this move marks the definitive end of an era in digital communication. While Skype once set the standard for online calls, it struggled to evolve in a fast-changing tech landscape. Microsoft’s focus on Teams reflects a broader industry trend, consolidating services into platforms that offer more than just voice and video calls. As Skype fades into history, it leaves behind a legacy of innovation. It was one of the first services to make global communication free and accessible, paving the way for the platforms that dominate today. This article was written by Jared Kirui at www.financemagnates.com.

The power of Moore’s Law is inevitable: every two years, humanity’s computational capabilities and efficiency double. Microchips were the first to take the wheel of the Information Age's progress — now it is AI's turn in the limelight. As more people start to grasp the scope of perspectives AI adoption opens, old-fashioned players, corporations, and long-standing practices are gradually redefined across entire sectors.Take the financial industry and its radical AI transformation with the rise of Deobanking. Decentralized Onchain Banking marries artificial intelligence and blockchain for a new understanding of how a financial ecosystem works. Deobanking’s breakaway from its predecessors (traditional banks and digital-first neobanks) lies in pulling all operations on-chain instead of relying on legacy frameworks. By removing intermediaries, enhancing transparency, and improving transaction execution time and costs, Deobanking erases the boundaries between the DeFi world and physical payments.Where Privacy-First Banking Moves On-ChainBlockchain technology supports Deobanking’s core operations through decentralization, security, and transparency. Smart contracts automate banking functions like loans, deposits, interest payments, and asset management — removing the need for an intermediary or third-party verification with increased attention to the customers’ privacy. On-chain banking delivers what traditional banking can't — a fully decentralized, self-custodial experience. In today's volatile regulatory landscape, users often face frozen accounts and withdrawal restrictions on their custodial wallets, limiting their control over funds. The matters are complicated even further when it comes to cross-jurisdictional transactions. Non-custodial ownership safeguards the Deobanking customers from these interventions.Deobanking providers will break away from TradFi transaction mechanisms like SWIFT and chartered partner banks, to offer more flexibility in adapting to evolving global and local regulations. The new vertical will become stablecoin-native to enable fast, low-cost, and border-independent transaction confirmations. Fiat money will remain in the Deobanking system in the form of ramps and off-ramps.WeFi’s Deobank, the first case of the Deobanking to go online, will use decentralized ZK Payment Engine to securely authorize transaction rollups without disclosing the parties’ personal information. Providing its customers with a choice of traditional account top-ups or non-custodial wallet connections, WeFi’s Deobank strikes a balance between flexibility, convenience, and security.AI-Enhanced Financial Ecosystem: from KYC to Investment OptimizationDeobanking does more than move banking on-chain: it creates an automated intelligent banking ecosystem through the synergy between AI and blockchain. Using the vast amount of data available on the blockchain, AI can automate critical processes and create a more personalized, user-friendly experience as users navigate the new financial toolkit.One key challenge is KYC, which remains a painful bottleneck in bringing the unbanked population into the global financial system. Today, over 1.4 billion people are unable to access basic financial services due to strict banking requirements, lack of trust in the system, or missing infrastructure. WeFi's Deobank plans to explore the capabilities of AI in streamlining KYC onboarding. As this is the first major attempt in this direction, the intricacies of regulatory interplay are yet to be explored. With more data and precedents becoming available, Deobank sees the culmination of this gradual development in the ultimate opportunity to use AI-driven identity verification for less stringent banking eligibility requirements, reducing both onboarding time and operational costs.Security and fraud detection is another area AI can enhance significantly. By analyzing pseudonymous transaction data on-chain, machine learning algorithms can detect and flag suspicious activities in real time, strengthening security. Reducing security costs and KYC barriers while maintaining ecosystem stability and regulatory compliance is efficiency in pure form — all powered by AI.Finally, Deobank’s AI agents will help users maximize the yield on DeFi investments. Learning from unique risk aversion and investment patterns, AI will offer advice in Web3 investments, help create no-code automatic execution contracts, and optimize the fee structure of associated instruments. Investing on-chain unlocks the universe of high-APR DeFi opportunities, where AI agents bridge crypto newcomers with sustainable wealth generation.Efficient For EveryoneHistorically, the financial industry has always pursued efficiency — in time, cost, and personnel. Neobanks recognized the growing demand for digital-first banking, breaking away from brick-and-mortar branches to make banking cheaper and more accessible — yet, failed to break free from the traditional finance ecosystem's grip.WeFi’s Deobank, the first of the new Deobanking paradigm, takes financial services one step further toward innovation and efficiency. It is not just about blockchain anymore — but creating an efficient, intelligent, automated, and secure ecosystem that serves, literally, everyone. This article was written by FM Contributors at www.financemagnates.com.

The growing demand for regulated cryptocurrency investment tools has prompted CME Group to introduce Solana (SOL) futures. Pending regulatory approval, these new contracts will reportedly launch on March 17 and aim to offer institutional and retail investors an efficient way to trade and hedge against Solana’s price movements. This addition signals further institutional adoption of Solana, placing it alongside Bitcoin and Ethereum in CME’s expanding crypto derivatives market.Data from CoinMarketCap shows that Solana (SOL) is on an uptrend despite a general decline in the digital currency space. The altcoin trades for $145, representing a 5% increase in the past day despite an 18% drop in the weekly chart.Trade regulated, capital-efficient futures on SOL, available in both larger- and micro-sized contracts so you can scale your exposure with greater precision and flexibility.Find out more about SOL☀️ https://t.co/bY0trXWsHe pic.twitter.com/Y1uZTz9iMh— CME Group (@CMEGroup) February 28, 2025A New Tool for Institutional and Retail InvestorsAccording to its announcement, CME Group will offer two future SOL contracts: a micro-sized contract at 25 SOL and a larger contract at 500 SOL. These futures will reportedly be cash-settled and based on the CME CF Solana-Dollar Reference Rate, which provides a daily U.S. dollar price for SOL.Solana futures will join CME’s crypto product suite, which includes Bitcoin and Ether futures and options. According to the group, the demand for these products is evident, with year-to-date trading data showing an average daily volume of 202,000 contracts, marking a 73% increase YoY. The average open interest is 243,600 contracts, up 55% YoY.The launch of SOL futures comes at a time of heightened market activity. Solana’s price recently fell below $140 due to a broader crypto market correction, heavy whale sell-offs, and an anticipated token unlock event that could release 11.2 million SOL into circulation on March 1.Navigating Solana’s Market VolatilityThe broader crypto downturn also played a role, with Bitcoin trading at slightly above $82k and over $1.5 billion in liquidations occurring within 24 hours. Solana’s Relative Strength Index (RSI) is currently around the oversold zone, indicating that the digital asset could be due for a rebound. The introduction of SOL futures reflects CME Group’s ongoing effort to expand crypto investment options for both institutions and active traders. According to the group, the launch of Solana futures could mark a turning point for the asset’s institutional adoption, further embedding it into the mainstream financial landscape. Whether this translates to price stability or increased volatility remains to be seen, but one thing is certain: Solana’s role in the crypto ecosystem could be on an uptrend. This article was written by Jared Kirui at www.financemagnates.com.

MetaMask plans to expand its network support and update its transaction features this year. The self-custodial crypto wallet will integrate the Bitcoin network in the third quarter and Solana in May. Solana will be the first non-Ethereum Virtual Machine (EVM) chain on MetaMask.Meanwhile, BTCUSD has been bearish on the H1 chart. Over the last five hours, the price has been heading north. A confluence level could play a key role in determining its next direction on the intraday charts.Introducing Batched Transactions and Gas-Free SwapsMetaMask will upgrade its gas-included swaps feature. Users will be able to pay for swaps with any token they hold. The company aims to eventually remove gas fees from most interactions, Cointelegraph reported.The wallet will adopt ERC-5792, enabling batched transactions. This feature will let users combine multiple actions, such as token approvals and swaps, in one click. MetaMask will also transition from Externally Owned Accounts to smart-contract-based accounts. The shift is expected to improve security and unlock additional functions.? MetaMask going multi-chain with native Bitcoin and Solana support in upcoming update. Major overhaul includes smart contract capabilities, multiple seed phrase management, and abstracted gas fees. #Metamask #Bitcoin #Solana #CrossChain pic.twitter.com/WDnRIfnfbt— NeomaVentures (@NeomaVentures) February 28, 2025New Wallet Features Enable Multi-Chain View, Recovery ManagementA new home screen will allow users to view assets across multiple chains in one place. The wallet will also introduce the ability to manage multiple Secret Recovery Phrases from a single interface.MetaMask recently launched MetaMask Card in partnership with Mastercard. The card links self-custodial wallets with merchants worldwide.Some users on X suggested that MetaMask has lost market share to competitors like Phantom and Rabby, which support Solana. Many of the top-performing tokens from the 2024 memecoin trend were traded on Solana.BTCUSD Confluence Resistance Level in FocusThe BTCUSD H1 chart indicates a prolonged downtrend. A bearish trend line is visible, and the 83350 level could act as a resistance point. This suggests the price may encounter a confluence resistance level.A bearish pattern at this confluence level could trigger further downward momentum. Conversely, a bullish breakout at this level may shift the intraday outlook.DeepSeek AI Outlines Bitcoin’s Future ScenariosDeepSeek AI has outlined three potential scenarios for Bitcoin in 2025. In the base case, Bitcoin is expected to trade between $100,000 and $150,000, as reported by Finance Magnates.In a bullish “hyperbitcoinization” scenario, the price could reach $350,000. A black swan scenario suggests a peak of $500,000. These projections are based on expectations of increased institutional adoption and broader blockchain integration in global finance. However, DeepSeek AI highlights the uncertainty and volatility surrounding these forecasts. This article was written by Tareq Sikder at www.financemagnates.com.

Bithumb has signed a sponsorship deal with FC Seoul for the 2025 season, the cryptocurrency exchange announced today (Friday). The partnership is part of Bithumb’s outreach efforts to offer customers unique experiences.The sponsorship follows a separate development where South Korea's institutional crypto storage firm BDACS will use Ripple Custody to secure XRP and RLUSD, a dollar-pegged stablecoin issued by Ripple. Bithumb Sponsors FC Seoul's 2025 SeasonFC Seoul is one of Korea’s top professional football clubs, managed by GS Sports. The club holds records such as being the first K League team to surpass 500,000 spectators in a single season. It has the highest average home game attendance among domestic professional sports teams.Under the agreement, Bithumb will serve as an official sponsor, with its logo displayed at the center of FC Seoul's official jerseys. The sponsorship will include collaborative marketing activities, promotional events during home matches, and other fan engagement initiatives.Enhancing FC Seoul Fan EngagementThe collaboration is part of Bithumb’s project, which started last year, to contribute to society through cultural fields, including sports and the arts.Bithumb users and football fans will have access to exclusive experiences, such as player escort opportunities, stadium tours, and special match-day invitations. The partnership will debut during FC Seoul’s first home match of the season against Gimcheon Sangmu FC on Wednesday.South Korea ?? sees a surge in cryptocurrency adoption!? Key Highlights:Over 15.59 million crypto investors—more than 30% of the population (Bank of Korea).Total cryptocurrency holdings soared to 102.6 trillion won (~$70.8 billion) in November, up from 58 trillion won… pic.twitter.com/ZXLdCfyKEI— Traders Paradise (@theparadiselive) December 25, 2024South Korea's Crypto Investor Numbers Reach 15.59 MillionAs of November 2024, South Korea's cryptocurrency investors totalled 15.59 million, an increase of 610,000 from the previous month, according to the Bank of Korea (BOK). This represents about 30% of the population, with the total market value of cryptocurrencies held by investors reaching 102.6 trillion won, as reported by Finance Magnates.Since July, the number of investors has grown steadily, with a notable spike following Donald Trump's election win, which drove Bitcoin prices to record highs. The data, shared by Rep. Lim Kwang-hyun, is the first release of cryptocurrency investor statistics by BOK, covering accounts at the five major exchanges: Upbit, Bithumb, Coinone, Korbit, and GOPAX.Cryptocurrency transaction volumes have also surged, averaging $10.2 billion daily in November, nearly matching the combined volumes of the KOSPI and Kosdaq. This article was written by Tareq Sikder at www.financemagnates.com.

The Securities and Exchange Commission (SEC) formally admitted yesterday (Thursday) that meme coins do not fall under its purview as they cannot be categorised as securities. Despite this, most of the top meme coins dropped by over 10 per cent in the past 24 hours, following the broader industry trend.Meme Coins Have “Limited or No Use”SEC Commissioner Hester Peirce earlier commented in an interview about the stance of the newly created Crypto Task Force under her leadership towards meme coins. Now, the agency has formalised it.“A ‘meme coin’ is a type of crypto asset inspired by internet memes, characters, current events, or trends, for which the promoter seeks to attract an enthusiastic online community to purchase the meme coin and engage in its trading,” a staff statement published on the SEC’s website noted.“Meme coins typically are purchased for entertainment, social interaction, and cultural purposes, and their value is driven primarily by market demand and speculation. In this regard, meme coins are akin to collectables.”The statement further confirmed that meme coins “typically have limited or no use or functionality” and do not meet the definition of a security under the Howey Test.This confirmation came as the SEC dropped its lawsuit against Coinbase and ended its probe into Gemini.Meme Coins Follow the MarketDespite the regulatory boost, the value of top meme coins has continued to fall over the past few days. Market leader Dogecoin (DOGE), with a market cap of over $27.5 billion, has lost about 10 per cent of its value in the past 24 hours and almost 28 per cent in seven days.Shiba Inu (SHIB) and Pepe (PEPE) are also following a similar trend, losing 15 per cent and over 23 per cent, respectively, in the past week.TRUMP coin, which US President Donald Trump backs, remained at the forefront of the declining meme coins. It lost 14.3 per cent in the past 24 hours and 32.2 per cent in seven days.According to CoinGecko, the overall meme coin market is down by 8.6 per cent. This occurred as Bitcoin fell below the $80,000 mark, losing almost all of its gains since President Trump assumed office. Ethereum and XRP, two other top cryptocurrencies by market cap, also lost over 20 per cent of their value in the past week.It should be noted that meme coins received a massive boost following Trump's victory as the 47th President of the US. Dogecoin surged to $0.47 after Trump’s 2024 win, primarily driven by Elon Musk’s endorsement and the creation of the Department of Government Efficiency (DOGE) in early 2025. However, investor enthusiasm has since faded.“The offer and sale of meme coins do not involve an investment in an enterprise, nor is it undertaken with a reasonable expectation of profits to be derived from the entrepreneurial or managerial efforts of others,” the SEC’s latest statement added. This article was written by Arnab Shome at www.financemagnates.com.

From political maneuvers to massive hacks, here's why Bitcoin is taking a nosedive.Bitcoin, the poster child of cryptocurrencies, has taken a sharp dive, plunging to around $80,000 mark at the time of writing—depths it hasn’t plumbed in over three months. This downturn has left investors and enthusiasts scratching their heads, wondering what's behind the sudden slump. Let's break down the chaos.Political Shenanigans: Tariffs and Broken PromisesFirst up, the political arena. President Donald Trump recently announced a 25% tariff on imports from Mexico and Canada, with an additional 10% on Chinese goods, set to kick in on March 4. This move has spooked investors, leading to a sell-off in risk-sensitive assets, including Bitcoin. The cryptocurrency tumbled more than 5%, hitting lows not seen since November.LIKE, IF YOU ARE NOT SELLING #BITCOIN pic.twitter.com/JieBr0ED5P— Vivek⚡️ (@Vivek4real_) February 25, 2025But that's not all. Many in the crypto community had high hopes that the Trump administration would roll out the red carpet for digital assets, especially after campaign promises suggested a crypto-friendly stance. Instead, the rollout of pro-crypto policies has been slower than a snail on a salt trail, leading to frustration and, you guessed it, market instability. The Bybit Breach: A $1.5 Billion Wake-Up CallAs if political drama wasn't enough, the crypto world was rocked by a colossal security breach. Hackers made off with a staggering $1.5 billion worth of Ether from the Bybit exchange, marking one of the largest heists in crypto history. This incident has reignited fears about the security of digital asset platforms, prompting many investors to hit the panic button. Fear and Greed: The Emotional RollercoasterInvestor sentiment plays a massive role in the crypto market's wild swings. The Cryptocurrency Fear and Greed Index, which measures the emotional sentiment of investors, has nosedived to 25, plunging into "Extreme Fear" territory. This is the lowest it's been since September 2024, indicating that investors are more jittery than a cat in a room full of rocking chairs. The Meme Coin MayhemAdding fuel to the fire, the recent craze over meme coins has led to significant losses. High-profile launches, including those promoted by political figures like President Trump and Argentina's President Javier Milei, have seen their values plummet, leaving investors holding the bag. This meme coin mania has not only drained wallets but also eroded trust in the broader crypto ecosystem. It's Not Just Bitcoin - Altcoins Aren't ImmuneWhile Bitcoin grabs the headlines, other cryptocurrencies are also feeling the heat. Ethereum has seen its price drop by 23% over the past month, partly due to the Bybit hack. Solana, another popular token, has nosedived by 42% in the same period. The total market cap of cryptocurrencies has shrunk by over $800 billion, a clear sign that the entire digital asset market is caught in a downward spiral. Is Bitcoin Gearing Up for a Comeback?There are reasons to remain cautiously optimistic. On-chain signals suggest that we might be in the early to mid-stages of a bull cycle. Bitcoin's dominance has risen to 62%, indicating that while altcoins suffer, the leading cryptocurrency might be gearing up for a comeback. However, with the current climate of fear and uncertainty, it's anyone's guess when the market will stabilize.#BITCOIN DUMPS BELOW $90,000 ?As promised, I want to change someone's life and send 1 $BTC (~$88,000) to one person by tomorrow.Just like, retweet and comment 'done'. Random winner in 15 hrs pic.twitter.com/qy3aEGaTwm— Elon Musk (Parody) (@elonmuskMMMM) February 26, 2025The recent Bitcoin crash is a perfect storm of political maneuvers, security breaches, and shaken investor confidence. While the crypto market has always been a rollercoaster ride, these events highlight the importance of staying informed and exercising caution. As always in the world of crypto, expect the unexpected. This article was written by Louis Parks at www.financemagnates.com.

A globally renowned exchange recently suffered a massive cyberattack, resulting in the loss of $1.46 billion in digital assets. The attackers exploited vulnerabilities in the cold wallet infrastructure using sophisticated techniques, highlighting the increasing risks in the digital financial landscape. As cyber threats grow, financial institutions must prioritize security to maintain trust and implement robust cybersecurity measures.ATFX, a leading CFD broker, has always placed client fund protection at the core of its operations. Recognizing the rise in cyberattacks targeting brokers, ATFX has implemented advanced security measures, including facial recognition technology for account registration. This innovation ensures a seamless yet secure verification process, allowing clients to authenticate their identities quickly while preventing unauthorized access.To further reinforce its security framework, ATFX consistently upgrades its cybersecurity infrastructure to prevent data breaches and unauthorized access. By integrating cutting-edge security solutions and adhering to the highest international regulatory standards, ATFX enhances protection while delivering a secure and efficient trading environment.In 2024, ATFX strengthened its asset security by partnering with Zodia Custody, a leading institution-first digital asset custodian backed by Standard Chartered, SBI Holdings, Northern Trust and National Australia Bank. This collaboration enhances security through cold storage and multi-signature wallet mechanisms, creating an impenetrable defense against potential cyber threats. Additionally, both ATFX and Zodia Custody maintain the highest regulatory standards, ensuring compliance and transparency while optimizing transaction efficiency for smoother deposit and withdrawal operations.As fintech continues to evolve, integrating advanced security measures into financial services is essential. ATFX remains at the forefront of innovation, safeguarding client assets while delivering a seamless trading experience. Through continuous technological advancements and industry-leading security practices, ATFX empowers traders with confidence in an ever-evolving financial landscape.About ATFXATFX is a leading global fintech broker with a local presence in 23 locations and licenses from regulatory authorities including the UK's FCA, Australian ASIC, Cypriot CySEC, UAE's SCA, Hong Kong SFC and South African FSCA. With a strong commitment to customer satisfaction, innovative technology, and strict regulatory compliance, ATFX provides 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.

The Australian financial market watchdog is shutting down investment scams at an average rate of 130 fraudulent websites each week. According to the latest official data, the Australian Securities and Investments Commission (ASIC) has removed a total of 10,240 investment scam websites.The blocked websites include 7,227 fake investment platform scams, 1,564 phishing scam hyperlinks, and 1,257 cryptocurrency investment scams.An Increase in InvestigationsFurthermore, the Aussie regulator increased the number of new investigations by 31 per cent to 109, commenced 15 new court actions, and completed 376 surveillance operations in the last six months. The agency also managed to secure AUD 46 million in civil penalties and 13 criminal convictions.ASIC, which oversees the retail financial sector in the country, implemented a “scam website takedown capability” in 2023, under which it removes suspicious websites. It focuses on three types of websites: fake investment platforms, crypto-asset scam websites, and imposter scam websites, all of which are very difficult to detect unless victims come forward.“Scammers are using increasingly sophisticated technology to steal money from hard-working Australians with investment scams that can look shockingly legitimate,” said ASIC’s Deputy Chair, Sarah Court.“ASIC will continue to protect Australians from scams by removing them before they reach consumers and holding financial institutions accountable for their scam detection and response practices.”An estimated 9mn people in the UK fell victim to financial fraud in the past year, according to Citizens Advice, with fake debt advice and friend-in-need scams claiming the most victims. https://t.co/lqXZbCOg2F pic.twitter.com/gFKWSSH023— Financial Times (@FT) February 19, 2025Victims Are Bearing Massive LossesAccording to data from the Australian Competition and Consumer Commission (ACCC), Aussies lost AU$2.74 billion to financial fraud and scams. Although the figure was staggering, it decreased by 13.1 per cent in a year.However, financial scams are not confined to Australia; they are a global issue. Malaysian authorities recently revealed that forex broker TrumphFX siphoned about US$5.3 million from 72 victims in the country.Similar to ASIC, financial regulators in other countries are also taking action against shady financial services platforms, but most of their authority is limited to issuing warnings. The regulator in Italy is another among the few that are blocking access to these platforms within their jurisdictions. This article was written by Arnab Shome at www.financemagnates.com.

The U.S. Securities and Exchange Commission (SEC) has dismissed its lawsuit against Coinbase, marking a significant shift in its approach to regulating the cryptocurrency industry. The move comes as the agency launches the Crypto Task Force, which aims to develop a clearer regulatory framework for digital assets. While the decision does not assess the merits of the case, it signals a potential policy reset under the new administration.It’s official: case dismissed.Time for fair legislation for the entire industry. pic.twitter.com/fRsZVX4sBk— Coinbase ?️ (@coinbase) February 27, 2025SEC Withdraws Coinbase Case The SEC’s decision to drop the civil enforcement action against Coinbase follows years of regulatory uncertainty in the crypto sector. The lawsuit, filed in 2023, accused the exchange of facilitating the trade of unregistered securities and failing to comply with the agency’s regulations. Coinbase, however, maintained that crypto-assets do not meet the legal definition of securities, a stance widely held within the industry.“For the last several years, the Commission’s views on crypto have been largely expressed through enforcement actions without engaging the general public,” said Acting Chairman Mark T. Uyeda. “It’s time for the Commission to rectify its approach and develop crypto policy in a more transparent manner. The Crypto Task Force is designed to do just that.”The dismissal aligns with broader changes within the SEC following President Donald Trump’s return to office. The agency has begun revisiting its enforcement strategies, particularly in cases where crypto firms allegedly violated SEC rules without engaging in fraud.? NOW: Donald Trump signs an executive order to help make “America the world the capital of crypto.” pic.twitter.com/UELJCDvGeb— Cointelegraph (@Cointelegraph) January 23, 2025Regulatory Shift Under New AdministrationLegal experts had expected settlements in such cases, but outright dismissals remain unprecedented. In addition to the Coinbase case, a separate lawsuit against Binance, another major crypto exchange, has also been paused. The SEC’s new stance suggests a willingness to reassess its regulatory approach under Republican leadership, particularly with Paul Atkins—a known crypto-friendly figure—expected to take the helm of the agency.Despite the SEC’s decision, it maintains that the dismissal does not indicate a broader policy on other crypto-related cases. The agency has reiterated its commitment to cracking down on fraud within the industry through its Cyber and Emerging Technologies Unit. However, the launch of the Crypto Task Force suggests that future regulatory efforts will prioritize clarity and public engagement over enforcement-first tactics. This article was written by Jared Kirui at www.financemagnates.com.

Global fintech broker ATFX enlisted Paresh Patel as the Global Head of Risk and Trading, according to Patel's announcement on LinkedIn today (Thursday). He joins the company from FXCM, where he served as the Global Head of Trading, a role he held for more than fifteen years. According to the company, ATFX has a presence in 23 locations and licenses from regulatory authorities, including the UK's FCA, Australian ASIC, Cypriot CySEC, UAE's SCA, Hong Kong SFC, and South African FSCA.Other Recent Executive Changes at ATFXLast year, AFTX made significant leadership changes as part of its expansion plan globally. Among the changes, the company announced the appointment of John Bogue as the Director of Institutional Operations. With over 30 years of experience in the FX market, John is experienced in trading, prime brokerage, and e-brokerage to ATFX. “We are thrilled to welcome John Bogue to our team,” said Joe Li, Chairman at ATFX. “John's relentless focus on accuracy, clarity, and prioritization of clients and team will be immensely beneficial as we continue expanding our capabilities and services.” The company also enlisted Siju Daniel as the Chief Commercial Officer. Siju is an expert in the financial services industry, having dedicated 20 years in executive leadership positions globally. Prior to the appointment, he was the Chief Commercial Officer of FXCM and was reportedly instrumental in driving revenue globally. Service Expansion GloballyThis year has been significant for ATFX after the company launched prop trading services. The firm, renowned for forex and contracts for differences (CFDs) broker, mentioned that this service will enable traders to focus on their “financial and professional growth.”“With ATFunded, we wanted to create a program that allows traders to not only access capital but to do so within an environment that aims for long-term growth,” commented Joe Li, Chairman at ATFX.“This platform is about more than just funding; it's about creating opportunities for traders to succeed and evolve,” he added.Geographically, the company officially opened its new office in Mexico, marking an important milestone in the company's expansion across Latin America, according to the firm. This article was written by Jared Kirui at www.financemagnates.com.

Leigh-Anne Acquisto, IG Group's Head of Brand and Product Marketing, is leaving the company after dedicating nearly three and a half years. Recently, Acquisto served as the Head of Brand and Product Marketing, a position she dedicated eleven months. Previous Roles at IG Group“After three incredible years, I'm officially hanging up my IG brand hat! In both my roles over the years, as Head of Brand Experience & Activation and Head of Product & Brand Marketing for APAC & ME,” she said in a LinkedIn post today (Thursday). “I've had the privilege of collaborating with brilliant minds both inside our business and across the industry. Each project challenged me to think bigger, reach higher, and create bolder!” Acquisto mentioned in a LinkedIn post.The veteran industry expert joined IG in 2021 as the Global Brand Manager and later as the Head of Brand Expression and Activation. Previously, she was the Chairperson of Brand Council South Africa, based in Johannesburg, South Africa. Acquisto is yet to announce her next career move. “As I embark on my next chapter, I'll always remember this as one of the most transformative growth paths of my career. The view was breathtaking from the shoulders of giants!” she expressed.Other Recent Executive Changes at IG GroupIG Group has made notable executive moves recently as the company expands its services globally. In another executive move, IG Group enlisted Ricardo Ghiglino as the Head of Europe and Emerging Market Tech Delivery. Ghiglino previously served as the Head of ETP Delivery for more than a year. Ghiglino is a seasoned technology expert with experience in notable brands. At Wit Engineering and Technology Ltd, he served as the Senior Technical Programme Manager and General Manager.In a major move this year, IG Group acquired Freetrade, a commission-free investment platform, for £160 million to further boost its offerings in the United Kingdom. “This is a rare opportunity to strengthen IG's UK trading and investment offering and broaden our target addressable market,” said Breon Corcoran, CEO of IG. The deal enabled IG to enter the UK’s direct investment market, which has reportedly expanded at an annual rate of 10%. This article was written by Jared Kirui at www.financemagnates.com.

Institutional crypto storage firm BDACS will use Ripple Custody to secure XRP and RLUSD. RLUSD is a dollar-pegged stablecoin issued by Ripple. The partnership targets institutional clients seeking secure storage for digital assets.Meanwhile, the XRPUSD H1 chart shows the price trading between two horizontal levels, with the next breakout set to be crucial for determining its direction on the intraday charts.Ripple Custody Enhances Crypto Storage SolutionsRipple Custody provides software infrastructure for crypto custodians, exchanges, and financial institutions. The service allows businesses to store, manage, and access cryptocurrencies through a system designed to meet regulatory and security requirements. The custody solution supports features like multi-signature wallets and transaction controls.South Korea’s BDACS to Use Ripple Custody for Institutional XRP, RLUSD Holdings https://t.co/FEV487V861— GA Spark • ? (@XRP_Spark) February 27, 2025Leveraging Busan’s Blockchain-Friendly Economic ZoneThe collaboration aims to strengthen Ripple’s ecosystem and increase RLUSD adoption. It also seeks to leverage Busan’s blockchain-friendly economic zone in South Korea, where authorities are promoting digital asset projects.Ripple recently said the XRP Ledger network will introduce more compliance functions and lending features. The network already supports clawback functions, which allow issuers to reclaim tokens linked to illicit activity, and decentralized identity tests designed to enhance user verification.XRPUSD Consolidates Between 2.32300 and 2.16000The XRPUSD H1 chart shows the price caught between the levels of 2.32300 and 2.16000, with both levels acting as key determining factors for intraday price action. A breakout above 2.32300 could push the price higher, signaling a potential upside move. Conversely, a bearish breakout below 2.16000 may extend the downside momentum that has been observed over the past few days. These levels are crucial in determining the next direction for XRPUSD on the intraday charts.Ripple Expands Its Position with New Alliances and DevelopmentsRipple has recently been involved in several key developments. The company has partnered with Revolut and Zero Hash to increase access to its RLUSD stablecoin, aiming to compete with USDT and USDC.? New partner alert: Ripple USD – a trusted, transparent, and regulated stablecoin built for payments – is now available for trading on @ZeroHashX and @RevolutApp!Get $RLUSD: https://t.co/jrEiNBWKgN pic.twitter.com/36q5OU5xfa— Ripple (@Ripple) February 5, 2025Additionally, Ripple teamed up with the Portuguese exchange provider Unicâmbio to enable instant international payments between Portugal and Brazil, leveraging digital assets for efficient cross-border transactions.Ripple also garnered attention when CEO Garlinghouse and Chief Legal Officer Alderoty attended a private dinner with President-elect Donald Trump on January 6. This sparked speculation about Ripple's ongoing legal case with the US Securities and Exchange Commission (SEC), which filed a lawsuit in December 2020 alleging that Ripple sold XRP tokens as unregistered securities.Great dinner last night with @realDonaldTrump & @s_alderoty. Strong start to 2025! pic.twitter.com/UjM6lahUG4— Brad Garlinghouse (@bgarlinghouse) January 8, 2025In terms of philanthropy, Ripple donated $100,000 in XRP to support communities affected by California wildfires, aiding organizations like World Central Kitchen and GiveDirectly through The Giving Block platform.Investor activity in XRP has been notable, with whales acquiring 520 million tokens during a recent price dip, indicating continued interest. Furthermore, the SEC's reassignment of Jorge Tenreiro, who oversaw Ripple's case, has raised questions regarding the agency's future stance on crypto litigation.Ripple has also made progress in Japan, with expectations that banks will adopt the XRP Ledger by 2025, a move aimed at improving cross-border payments and currency conversions for remittances.EARTH-SHATTERING NEWS!!!In Japan, almost every bank is starting to adopt #XRPDavid Jevans, RakutenDec, 2019 pic.twitter.com/MHALlO3F5t— Bull Diep (@DiepSanh) December 27, 2019In the decentralized finance (DeFi) space, Ripple has partnered with Chainlink to integrate its RLUSD stablecoin into DeFi applications on the Ethereum blockchain for trading and lending.The debate surrounding XRP's inclusion in a US crypto reserve continues, with centralization concerns complicating the conversation. In response, Ripple’s Chief Technology Officer, David Schwartz, has defended the decentralization of the XRP Ledger, highlighting its resilience against manipulation. This article was written by Tareq Sikder at www.financemagnates.com.

The U.S. Securities watchdog ended its investigation into Gemini without filing enforcement charges, but the exchange’s Co-Founder, Cameron Winklevoss, isn’t letting it go. In a fiery post on X, Winklevoss condemned the agency’s handling of the probe, arguing that it inflicted massive financial and economic harm. He now demands consequences, including public firings and financial recompense for companies targeted by similar investigations.SEC Closes Gemini Investigation Without ChargesGemini, the New York-based cryptocurrency exchange, was reportedly informed on Monday that the SEC had officially dropped its case. The investigation had been ongoing for years, consuming significant legal resources and adding to the regulatory uncertainty surrounding the crypto industry, according to the company. However, rather than celebrating the outcome, Winklevoss expressed outrage, accusing the SEC of damaging both Gemini and the broader crypto sector.“The SEC cost us tens of millions of dollars in legal bills alone and hundreds of millions in lost productivity, creativity, and innovation. Of course, Gemini is not alone,” Winklevoss said.On Monday, the SEC informed our litigation counsel @JackBaughman27 that it has closed its investigation into @Gemini and will not be pursuing an enforcement action against us. This comes 699 days after the start of their investigation and 277 days after they sent us a Wells… pic.twitter.com/dTjg9CJXVl— Cameron Winklevoss (@cameron) February 26, 2025He argued that federal agencies should not be allowed to aggressively investigate companies only to later withdraw without consequences. His proposed remedy required agencies to reimburse defendants at three times their legal costs if they failed to establish wrongdoing.He also called for all SEC staff members involved in the probe to be publicly fired, with their names and roles posted on the agency’s website. “Everyone involved in these actions should be fired immediately and in a public way. Their names, roles, and the actions they participated in should be posted on the SEC website,” he wrote.Shifting Stance at the SECThe agency recently ended investigations into Uniswap Labs, Robinhood Crypto, and OpenSea without filing charges. On the same day, it closed the Gemini case, the SEC also moved to pause its litigation against Tron Foundation and Justin Sun, mirroring its recent approach in lawsuits against Coinbase and Binance.https://t.co/0iY0E7Mc9q pic.twitter.com/hVsGpnpNZd— Brian Armstrong (@brian_armstrong) February 21, 2025These developments suggest a shifting stance at the SEC, potentially signaling a retreat from its aggressive enforcement approach against the crypto sector. However, for Winklevoss, the damage has already been done. He believes the agency’s actions have stifled innovation and cost the U.S. economy immeasurable opportunities.“If an agency refuses to write rules before it opens an investigation or brings an enforcement action, the agency should have to reimburse you for 3x your legal costs,” Winklevoss continued.“This would make you financially whole for the time and money you spent defending yourself against sham investigations and baseless enforcement actions that were only able to be brought because the agency didn’t write rules in the first place.” This article was written by Jared Kirui at www.financemagnates.com.

When Sarvjeet and Tajinder Virk founded Finvasia in 2009, they weren’t just building a company—they were challenging the way industries operate. What started as a fintech venture has grown into a global powerhouse spanning financial services, healthcare, biomedical engineering, and investment banking. With over 5 million clients in 190+ countries, Finvasia’s disruptive products are reshaping markets, making them more accessible, transparent, and technology-driven.But Finvasia is not just another company—it’s an ecosystem of innovation. Whether it’s revolutionizing stock trading, copy trading, AI-driven banking, medicine derived from food, or wearable biosensors, the company is proving that real-world problems need interdisciplinary solutions.Shoonya: The Zero-Commission Trading DisruptorIf there’s one product that put Finvasia on the map, it’s Shoonya—India’s first truly zero-commission trading platform. Launched to democratize investing, Shoonya disrupted the brokerage industry by eliminating trading fees across equities, commodities, derivatives, and currencies.For traders, this meant more than just savings—it meant unrestricted access to markets without hidden costs. As a result, Shoonya has seen exponential adoption, attracting millions of retail investors and forcing traditional brokers to rethink their pricing models.ZuluTrade: Social Trading on a $2 Trillion ScaleOn the global stage, Finvasia expanded into social trading with the acquisition of ZuluTrade in 2021. Founded in 2007, ZuluTrade has facilitated over $2 trillion in trades and serves users in 150+ countries.ZuluTrade is not just a copy-trading platform—it’s an ecosystem where traders, investors, and brokers connect. Under Finvasia’s leadership, the platform is evolving beyond copy trading, integrating AI, risk analytics, and user-driven enhancements to make investing more collaborative and data-driven.Jumpp: AI-Powered Neo-Banking for the FutureTraditional banking is complex, fragmented, and outdated—Finvasia’s answer to this? Jumpp.Jumpp is an AI-driven neo-banking super app that combines banking, savings, payments, investing, and lending into a single, intelligent platform. Unlike traditional apps, Jumpp isn’t just about transactions—it’s about financial empowerment.Using multilingual AI, it provides spending insights, budgeting recommendations, and personalized financial strategies. Built in collaboration with YES Bank, Jumpp is not just another fintech app—it’s a step toward fully automated, user-centric banking.Ethniq: Transforming Medicine Through Food ScienceWhat if food could be medicine—literally? That’s the philosophy behind Ethniq, a pioneering venture that develops pharmaceuticals derived from natural food sources.Unlike traditional drug development, Ethniq creates plant-based, scientifically validated medicines. With 10 products already approved by FSSAI and AYUSH India, Ethniq is leading a new frontier in holistic healthcare.It has also received a patent for one of its innovative medicines and is awaiting approval for several others. This approach is not just about treating diseases but preventing them—a radical shift in how medicine is developed and consumed.ActTrader: A Powerhouse in Trading TechnologyWith financial markets evolving rapidly, professional traders demand high-performance trading platforms. Finvasia’s ActTrader is exactly that—a battle-tested, institutional-grade trading technology that has powered global financial institutions for over two decades.Designed for high-frequency traders and institutional investors, ActTrader ensures seamless execution, algorithmic trading, and multi-asset support, making it a critical pillar in Finvasia’s financial ecosystem.Bodyloop: The Future of Biomedical EngineeringWearable health trackers are common—but what if your body itself could monitor its health? Bodyloop is bringing that vision to life.Finvasia is developing ‘in-body’ microsensors that will allow real-time, continuous monitoring of vital health parameters. This cutting-edge biomedical engineering project aims to revolutionize early disease detection and patient care, taking personal healthcare beyond wearables and into seamless, real-time bio-monitoring.Gini Health: A DNA-Based Approach to Diabetes ReversalPrevention is better than cure, but what if chronic diseases like diabetes could be reversed?Gini Health is an innovative DNA-based and diabetes reversal healthcare facility that provides end-to-end treatment, from ICU to OPD. By integrating genomics, AI-driven diagnostics, and precision medicine, Gini Health creates personalized treatment plans aimed at reversing diabetes, rather than just managing it.This science-driven, patient-centric approach makes Gini Health a game-changer in tackling one of the world’s biggest health crises.A Global Financial and Investment Banking PowerhouseBeyond fintech and healthcare, Finvasia is deeply entrenched in global finance, with brokerage and investment banking operations spanning Mauritius, UAE, South Africa, and the EU.Its brokerage platforms serve retail and institutional clients, providing low-cost, high-efficiency trading solutions. Meanwhile, its investment banking arm focuses on capital markets, structured finance, and strategic advisory services, solidifying Finvasia’s reputation as a serious player in global finance.What’s Next for Finvasia?Few companies can claim expertise across financial services, AI, medicine, and biomedical engineering—but Finvasia thrives on breaking boundaries.With ongoing patents, rapid global expansion, and cutting-edge technology in multiple industries, Finvasia is not just shaping the future—it’s creating it. Whether it’s making trading free, revolutionizing banking, redefining medicine, or pioneering bio-sensing technology, the company is proving that the most disruptive innovations happen when industries intersect.As Finvasia continues to grow, one thing is clear: this isn’t just a company to watch—it’s one that’s changing the way we think about finance, health, and technology altogether. This article was written by FM Contributors at www.financemagnates.com.

The cryptocurrency market has experienced significant turbulence in early 2025, with Bitcoin falling from its all-time high of $109,000 in January to $82,000 by end of February. This 20% decline has left many investors wondering what factors are driving this bearish trend in the world's leading digital currency. While Bitcoin has shown some recovery—trading at approximately $86,300 as of February 27—the market remains volatile and uncertain. This comprehensive analysis explores the key factors behind Bitcoin's recent price drop and examines potential future scenarios.Why Is Bitcoin Price Down Today? Three Days of BTC Straight DeclinesAs of February 27, 2025, Bitcoin (BTC) is trading at approximately $86,373, reflecting a 3.08% decrease from the previous close. The cryptocurrency has experienced significant volatility, with intraday highs reaching $89,228 and lows dipping to $83,937.Yesterday (Wednesday), Bitcoin's price briefly dropped to just $82,133, simultaneously falling below the 200 EMA (Exponential Moving Average) for the first time since September 2024. This long-term moving average is considered by many analysts to be the dividing line between a bull and bear trend. Closing below this level suggests—at least in theory—that sellers are once again gaining the upper hand on the BTC chart, and its price could continue to decline. Over the span of just three trading sessions, Bitcoin slid by nearly 15%, breaking out of the consolidation range it had been tracing since November.On Thursday, however, BTC’s price is attempting to climb back above this critical level, making it worth watching Bitcoin’s behavior in the near term around this key threshold."This price correction aligns with expectations following the ‘sell the news’ event on January 20, with CME futures indicating potential downside toward the mid-$70K range,” commented Paul Howard, Director at Wincent. “A significant ETF outflow of around $1 billion, nearly observed yesterday, could mark the bottom. The pullback is largely attributed to the absence of anticipated positive EO developments and ongoing concerns about U.S. inflation data. However, this temporary downturn likely sets the stage for substantial gains and new all-time highs by 2025 as regulatory and market fundamentals continue to evolve.”3 Reasons Why Bitcoin Is FallingRegulatory and Policy Influences: Disappointment with the slower-than-expected rollout of pro-crypto policies by President Donald Trump has contributed to the slump. Cryptocurrencies supported by Trump and other political figures have faced sharp declines, with memecoins suffering substantial losses. Security Breaches: A significant $1.5 billion hack of the Bybit crypto exchange has exacerbated security concerns within the crypto ecosystem, further impacting investor confidence. Macroeconomic Factors: Economic concerns, including President Trump's tariff threats, have led to increased market volatility. On February 25, Bitcoin dropped to a three-month low of $87,000 amid these uncertainties. Add to the mix a US dollar rebounding from its December lows and a Wall Street that’s sliding for yet another day in a row, and you’ve got an explosive cocktail for assets considered risky. Meanwhile, Tesla shares are breaking through the psychological support level of $300 and also dipping below the 200 EMA, which only deepens investors’ concerns across both the stock market and crypto space.Technical Analysis: How Low Can Bitcoin Go?As I mentioned earlier, the most important factor at this moment is how Bitcoin will react at the 200 EMA level, which is currently around $85,650. If this level holds, the bulls may attempt another move toward the lower boundary of the three-month consolidation range, which lies between $90,000 and $92,000. The next technical targets are the psychological level of $100,000 and the all-time high (ATH) from December, which is around $108,000.However, if the 200 EMA does not hold, Bitcoin has significant room for a decline. This is particularly concerning because a breakdown from the consolidation would confirm a double-top pattern, with a measured move target around the highs from nearly a year ago (March 2024), which stands at $73,800. The next local support levels are $72,325 (the highs from May and June 2023), followed by $66,900 (the highs from July 2024).Bitcoin Price PredictionsAs Bitcoin hovers around critical support levels, analysts and traders remain divided on its short-term trajectory. While some see further downside risks, others believe the current correction is a precursor to another upward move. Former BitMEX CEO and crypto influencer Arthur Hayes has issued a stark warning about Bitcoin’s future price action. In a post on X (formerly Twitter) on February 25, 2025, Hayes predicted a severe downturn, using the term "goblin town" to describe a potential price collapse. According to Hayes, Bitcoin may fall down to $70,000.#Bitcoin goblin town incoming:Lots of $IBIT holders are hedge funds that went long ETF short CME future to earn a yield greater than where they fund, short term US treasuries.If that basis drops as $BTC falls, then these funds will sell $IBIT and buy back CME futures. These… pic.twitter.com/3PskTxrBPR— Arthur Hayes (@CryptoHayes) February 24, 2025While Hayes warns of a sharp drop, analysts from Bitfinex see Bitcoin at a "critical juncture" due to nearly 90 days of range-bound trading. Between December 2024 and February 2025, Bitcoin fluctuated between $91,000 and $102,000, failing to sustain momentum for a breakout.Contrary to the bearish outlook, crypto strategist Michaël van de Poppe argues that Bitcoin's downward move is simply a liquidity hunt before the next leg up. He believes that bearish sentiment has peaked, indicating that the bottom may be near.Anyways, mentioned this yesterday, #Bitcoin needs to take all the liquidity. That's what we're currently doing.Ultimate bottom case? $83-87K. Then we should be rotating upwards. The current sentiment is extremely peaking to the downside, so that's likely the case. pic.twitter.com/aSaN6xf9D1— Michaël van de Poppe (@CryptoMichNL) February 25, 2025According to van de Poppe:Bitcoin needed to dip below $90,000 to trigger resting buy orders.The ultimate bottom could be between $83,000 and $87,000.Once Bitcoin taps into this liquidity zone, a bullish reversal could follow.Markus Thielen, head of research at 10x Research, aligns with van de Poppe’s view, highlighting the $85,000 zone as a critical support level. He believes that this level, along with the 200-day Exponential Moving Average (EMA), could serve as a turning point for Bitcoin.Bitcoin’s Next Big Buy Zone Revealed!Bitcoin, MicroStrategy, on-chain data, liquidations, technicals, and more...?1-11) Yesterday, Bitcoin dropped sharply, breaking below the critical $95,000 support level. We had previously warned about this key threshold in our December… pic.twitter.com/i6VNEyIKW5— 10x Research (@10x_Research) February 25, 2025Bitcoin News, FAQWhy Is Bitcoin Currently Down?Bitcoin is currently experiencing a decline due to a combination of macroeconomic factors, institutional selling, and market sentiment. One of the primary drivers is regulatory uncertainty, with concerns over stricter enforcement actions against crypto-related businesses in the U.S. and other major economies. Additionally, economic conditions such as Federal Reserve policy changes, rising interest rates, and inflation fears have led investors to move away from riskier assets, including cryptocurrencies.Will BTC Rise Again?Some experts, including Michaël van de Poppe and Markus Thielen of 10x Research, see the $85,000 zone as a critical support level. If Bitcoin holds above this level, it could regain bullish momentum and move toward $90,000–$92,000, with the potential to reclaim its all-time high of $108,000 in the coming months. However, if this level fails, Bitcoin could drop to $70,000 or lower before finding a new bottom.What If You Invested $1,000 in Bitcoin 10 Years Ago?If you had invested $1,000 in Bitcoin in February 2015, when the price was around $220 per BTC, your investment would have bought approximately 4.54 BTC. At Bitcoin’s all-time high of $108,000 in December 2024, your holdings would have been worth $490,320—a nearly 49,000% return on investment. Even with Bitcoin's current pullback to around $86,000, your investment would still be valued at approximately $390,000, demonstrating Bitcoin’s long-term growth potential.Why Has Crypto Dropped Today?Today’s drop in Bitcoin and other cryptocurrencies is largely attributed to a mix of market consolidation, institutional sell-offs, and external economic pressures. The recent tariff threats from the U.S. government, declining consumer sentiment, and a lack of bullish momentum have all contributed to downward pressure on Bitcoin. Additionally, a large-scale liquidation of leveraged positions and profit-taking by institutional investors has accelerated the decline. This article was written by Damian Chmiel at www.financemagnates.com.

The Cyprus Securities and Exchange Commission (CySEC) has today released a practical guide on maintaining effective and efficient sanctions screening systems. This guide includes the findings of CySEC's recent assessment on the effectiveness and efficiency of the sanctions screening systems used by regulated entities in Cyprus.CySEC Conducts Thematic Inspections on SanctionsThe thematic inspections were carried out between April and November 2024. They involved a range of regulated entities, including Cyprus Investment Firms, Alternative Investment Fund Managers, Administrative Service Providers, Funds, Fund Managers, and Crypto Asset Service Providers. The primary focus of these inspections was to evaluate compliance with the sanctions requirements set out in the United Nations Security Council Resolutions and European Union Council Decisions and Regulations."All regulated entities are obliged to have adequate internal policies, procedures and controls in place, for the implementation of the provisions of Sanctions/Restrictive Measures, including screening tools," CySEC’s Chairman Dr George Theocharides said.Δελτίο Τύπου – Η ΕΚΚ δημοσίευσε πρακτικό οδηγό για τη διατήρηση αποτελεσματικών και αποδοτικών Συστημάτων Ελέγχου Κυρώσεωνhttps://t.co/cr3xngWdsOPress Release – CySEC published practical guide for effective and efficient Sanctions Screening Systemshttps://t.co/UqpKhAnZo5— CySEC - Cyprus Securities and Exchange Commission (@CySEC_official) February 27, 2025CySEC Identifies Gaps in Sanctions ComplianceIn particular, the inspections centered on the screening of individuals and entities listed on the UN and EU Sanctions Lists. Additionally, the screening practices concerning US and UK Sanctions Lists were also reviewed. The aim was to assess whether regulated entities are adequately identifying designated persons and complying with these international sanctions.CySEC's inspections resulted in the identification of several best practices related to sanctions screening. However, the Commission also found that there are areas where the effectiveness and efficiency of the sanctions screening systems used by regulated entities can be improved. The Commission noted that these improvements are necessary for ensuring full compliance with the relevant sanctions regulations."Regulated entities should consider the CySEC’s supervisory expectations set out in the Guidance Paper as a benchmark, so as to implement best practices identified in a risk-based and proportionate manner," Theocharides wrote in a letter to the regulated entities. This article was written by Tareq Sikder at www.financemagnates.com.

Cryptocurrency exchange Bybit has received In-Principle Approval (IPA) from the Securities & Commodities Authority (SCA) of the United Arab Emirates to set up as a Virtual Asset Platform Operator. The approval, dated February 18, 2025, comes shortly after the company reportedly lost over $1.4 billion in liquid-staked Ether and MegaETH in a security breach.Bybit Nears UAE License for Crypto Operations"We are honored to have received the IPA from SCA. This approval marks a crucial step in our journey to providing secure and transparent crypto trading solutions," Ben Zhou, Co-founder and CEO of Bybit, commented. The IPA is a preliminary regulatory approval that allows Bybit to move closer to obtaining a full operational license in the UAE. The company said the license would enable it to offer digital asset services to both retail and institutional clients in the region.Bybit described the UAE as a key financial hub with regulatory frameworks supporting cryptocurrency and blockchain adoption. The company stated that it follows global compliance standards, including Anti-Money Laundering (AML) and Counter-Terrorism Financing (CFT) protocols.Gained Regulatory Approvals in JurisdictionsBybit has secured regulatory approvals in several regions, including India, Georgia, Kazakhstan, and Turkey. The company said these approvals align with its strategy to expand its services while meeting regulatory requirements across jurisdictions."Bybit remains dedicated to working hand-in-hand with regulators to foster a compliant and innovative digital asset ecosystem to both retail and institutional investors in the UAE," Zhou added. Bybit Receives In-Principle Approval to Establish Virtual Asset Platform in the United Arab Emirates https://t.co/f7ZLgywwqC#cryptotrading #memes #cryptoinvesting #cryptocurrencies #bitcointrading #cryptonews #cryptocurrencytrading #cryptomarkets pic.twitter.com/MtyixGrJWZ— World Of Cryptocurrencies (@worldcryptospot) February 27, 2025Replaced Stolen Ether After BreachAfter the recent attack, Bybit experienced an outflow of over $6.1 billion. The exchange’s CEO confirmed that Bybit replaced the $1.4 billion worth of Ether stolen in the breach. DeFiLlama reported a drop in customer assets from $16.9 billion to $10.8 billion. Despite this, Bybit assured that it restored the missing Ether and would release an audited proof-of-reserves report soon. To gather leads on the attack, Bybit launched a $140 million bounty program. The breach is suspected to involve North Korea's Lazarus Group. This article was written by Tareq Sikder at www.financemagnates.com.

PU Prime has been recognized Best Multi-Asset Broker – MEA 2025 at a ceremony held at the Dubai World Trade Centre. The award was presented at the close of the first day of iFX EXPO Dubai 2025, one of the leading events in the financial services industry. Organized by Ultimate Fintech, the awards recognize companies for excellence across the global financial sector.This accolade highlights PU Prime’s outstanding performance in offering a wide range of financial products, including forex (FX), commodities, shares, ETFs, bonds, and more. The company's innovative approach and unwavering commitment to client satisfaction have established it as a leader in the Middle East and Africa (MEA) region.Recognition for Innovation and ExcellenceThe Best Multi-Asset Broker – MEA 2025 award further reinforces PU Prime’s reputation as a technology-driven brokerage, providing traders with access to global markets through advanced tools and competitive pricing. With a focus on delivering a seamless, user-friendly trading experience, PU Prime continues to support both retail and professional traders in navigating complex financial markets.A Highlight at iFX EXPO DubaiThe award ceremony was a key moment at iFX EXPO Dubai 2025, bringing together top financial industry leaders for networking and collaboration. The expo serves as an important platform for financial service providers to present their offerings and technological advancements to a global audience.Future OutlookThis latest recognition positions PU Prime for ongoing presence in the global financial services market. The company aims to drive innovation, enhance its platform, and expand its product offerings to meet the evolving needs of traders worldwide.For more information, users can visit www.puprime.com.About PU PrimeFounded in 2015, PU Prime is a leading global fintech company offering innovative online trading solutions. The company provides a broad range of financial products, including forex, commodities, indices, and cryptocurrencies. With a commitment to advanced technology and education, PU Prime supports traders of all levels and serves a global audience, with over 40 million app downloads. The platform is dedicated to empowering traders and fostering financial success worldwide. This article was written by FM Contributors at www.financemagnates.com.