Trademax Australia Limited, operating under the TMGM brand, a leading provider of contracts for difference (CFDs) and margin forex trading services, announces that the Australian Securities and Investments Commission (ASIC) has revoked the interim stop orders previously issued in relation to TMGM’s contracts for difference.On June 13, 2024, ASIC issued interim stop orders prohibiting Trademax Australia Limited from engaging in specified conduct related to retail clients and CFDs. This included retail client CFD trading and opening trading accounts for retail clients to trade these products.The company has now thoroughly reviewed its retail investor questionnaire and onboarding controls, implementing necessary improvements to its processes and to achieve what it now believes is industry best practice.The interim stop orders have now been lifted and TMGM Australia can now onboard new retail clients for CFDs.The company prioritises client services and educating clients in relation to trading CFDs and margin forex products. By continuously improving its processes and providing comprehensive educational resources, TMGM empowers its clients to make informed trading decisions.As TMGM moves forward, the company remains committed to maintaining the highest standards of transparency, integrity, and client service. TMGM is well-positioned to continue growing as a trusted market leader.For more information about TMGM Australia please visit the company's website at https://www.tmgm.com or contact support@tmgm.com.DisclaimerCFD Trading carries high risks to your capital. Trademax Australia Limited (TMGM Australia) (AFSL 436416) is the issuer of the contracts for difference and margin FX products referred to in this document. A product disclosure statement (PDS) for the products and a copy of the relevant target market determination is available at https://www.tmgm.com/en-au. You should consider the PDS before deciding whether to trade our CFDs and margin FX products. CFD investors do not own or have any rights to underlying assets.About TMGM Australia:TMGM Australia is a leading provider of CFDs and margin forex trading services. The company's cutting-edge trading platform, comprehensive educational resources, and global presence make it a trusted partner for traders worldwide. This article was written by FM Contributors at www.financemagnates.com.

Crossover Markets Group, established by two former Jefferies executives, has raised $12 million in a Series A funding round. Announced today (Wednesday), the round was led by Illuminate Financial and DRW Venture Capital (DRW VC).“This fundraise comes at a time when institutional market structure is changing in digital assets,” Brandon Mulvihill, Co-Founder and CEO of Crossover Markets, said. “Illuminate brings enormous depth of knowledge across the institutional landscape, and DRW adds significant expertise as one of the largest multi-asset market makers in the world.”"Discussions around 24/7 Trading"Crossover was established in 2022 by two former Jefferies executives, Mulvihill and Anthony Mazzarese. While Mulvihill is steering the company as the CEO, Mazzarese is holding the role of Chief Commercial Officer.The company launched CROSSx, a crypto electronic communication network (ECN), last year with promises to decrease trading costs, improve execution quality, and enhance market data capabilities. Although ECNs are very popular in forex, it was one of the first in the cryptocurrency industry.As Finance Magnates reported earlier, Crossover Markets handled over $3.15 billion in notional trading value and processed 141 billion quotes in the first three months of 2024."Digital assets market structure is experiencing a pivotal change driven by institutional needs and activity," Mulvihill added. "Simultaneously, we are witnessing the early-stage emergence of discussions around 24/7 trading across traditional asset classes."Big Backers of CrossoverCrossover is also backed by big names in the trading industry. Earlier, it closed its seed round by receiving funds from institutions including Flow Traders, Laser Digital, Two Sigma, and Wintermute, and retail brokers like Exness, Gate.io, GMO, Pepperstone, Trademax, and Think Markets.Following the latest funding round, Mark Beeston, founder and Managing Partner of Illuminate Financial, and Kevin Wolf, CFO at American Financial Exchange and former CEO of Euronext FX, will join Crossover’s board of directors."Illuminate Financial has been building out a portfolio of institutional grade digital assets infrastructure companies since 2019 as part of our thesis around the convergence of traditional finance and digital asset market structure," Beeston said. "Crossover adds best-in-class execution capability to that portfolio." This article was written by Arnab Shome at www.financemagnates.com.

European Binance users logging into their mobile app on Wednesday were greeted with an unsettling message indicating that certain services were no longer available in their region. This sudden change comes as new cryptocurrency regulations on the Old Continent officially take effect at the end of June. Binance, acting proactively, has already blocked access to some services, including copy trading, starting from June 26.Binance Users in Europe Face Significant RestrictionsA year ago, the European Union introduced the Markets in Crypto-assets (MiCA) regulation package, governing the digital assets industry across Europe and within the European Economic Area (EEA). The MiCA regulations concerning stablecoins will significantly impact the products and services of European cryptocurrency exchanges effective June 30, 2024. Binance, the largest exchange by monthly transactions, was the first to implement these restrictions, which will affect copy trading enthusiasts immediately starting today (Wednesday).“Impacted Lead Traders and Copy Traders are encouraged to close their positions in their Copy Trading activities and transfer their funds back to their respective Spot Wallets before 2024-06-27 23:59 (UTC +3),” the exchange commented a few weeks ago.After that date, any remaining open positions will be automatically closed at market price, and assets will be transferred to spot wallets.Unauthorized Stablecoins and Product LimitationsFrom June 30, Binance will also stop supporting various other important services if they rely on "unregulated" stablecoins. „Stablecoins that are not regulated under MiCA, including USDT and others, will still be available for trading on Binance on Spot, for deposit and withdrawal and in your wallet, as normal. They will also be available to sell on Convert. Binance will not be delisting these stablecoins,” the exchange commented in an email sent to its European users last week.Under upcoming MiCA rules some stablecoins will face restrictions as unauthorized stablecoins.Binance won't delist any unauthorized stablecoins on spot but will limit their availability for EEA users only on certain products, such as launchpool and earn, and will propose…— Binance (@binance) June 3, 2024Key changes for EEA users include:Restricted buying of unauthorized stablecoins through Binance ConvertLimitations on new borrowings and transfers of unauthorized stablecoins in margin tradingBlocking of new subscriptions involving unauthorized stablecoins in products like Simple Earn, Binance Loans, and Dual InvestmentRestrictions on peer-to-peer (P2P) trading and over-the-counter (OTC) purchases of unauthorized stablecoinsDespite these restrictions, Binance has stated that it will not delist any stablecoins until further notice. Spot trading pairs with unauthorized stablecoins will remain available, and users will still be able to withdraw or deposit these tokens to their Binance wallets.The exchange is also making changes to its rewards and referral systems. Starting June 24, referral commissions for spot and margin trading will be paid in BNB, Binance's native token, instead of stablecoins.Binance has advised its European users to review their holdings and consider transitioning to regulated stablecoins or other digital assets ahead of the June 30 deadline. This article was written by Damian Chmiel at www.financemagnates.com.

Michael Kane and Shane Hampton have received jail terms for manipulating the price of a cryptocurrency of their company, Hydrogen Technologies, with wash and spoof trading, thus defrauding investors.Jail For Market Manipulation According to the announcement by the Department of Justice yesterday (Tuesday), Kane, co-founder and CEO of the company, received three years and nine months in prison, while Hampton, the Head of Financial Engineering, received two years and 11 months. The sentencing came after Kane pled guilty to one count of conspiracy to commit securities price manipulation, one count of conspiracy to commit wire fraud, and two counts of wire fraud last November. Hampton, on the other hand, was convicted in February for one count of conspiracy to commit securities price manipulation and one count of conspiracy to commit wire fraud.“Shane Hampton, Michael Kane, and their co-conspirators defrauded investors by using a trading bot to manipulate the price of their company’s cryptocurrency,” said the Principal Deputy Assistant Attorney General, Nicole Argentieri.Wash and Spoof Trades The duo hired South Africa-based Moonwalkers Trading to manipulate the price of HYDRO, the token of Hydrogen Technologies, on a US-headquartered cryptocurrency exchange. Between October 2018 and April 2019, the cryptocurrency exchange flooded the market with fake and fraudulent orders using an automated trading application or ‘bot’.The court documents showed that the bot executed about $7 million in “wash trades” and placed $300 million in “spoof trades.” These trades pumped the price of HYDRO, inducing retail traders to purchase the token. Furthermore, Kane, Hampton, and their co-conspirators made about $2 million from selling HYDRO over a 10-month period. Meanwhile, the jury in the case found that HYDRO qualifies as an investment contract, making it an unregistered security.“In this case, for the first time, a jury in a federal criminal trial found that a cryptocurrency was a security and that manipulating cryptocurrency prices was securities fraud,” Argentieri added. “This prosecution and the sentences imposed today should serve as a warning: The Criminal Division will not hesitate to use all tools at its disposal—including the federal securities laws—to protect the integrity of cryptocurrency markets.” This article was written by Arnab Shome at www.financemagnates.com.

The global credit network for institutions, Hidden Road, has collaborated with Trading Technologies, a capital markets technology platform provider, to offer clients a unified solution for trading a range of asset classes. This partnership reportedly marks the first time Hidden Road has provided an independent platform for cleared derivatives.Expanding Trading CapabilitiesAccording to the press release, this collaboration enables Hidden Road's clients to use TT's trading platform, which supports traditional cleared derivatives as well as digital assets. The two entities mentioned that the expanded cross-asset coverage will give Hidden Road's prime brokerage clients the ability to trade an array of asset classes.Commenting about the new partnership, Michael Higgins, the Global Head of Business Development at Hidden Road, mentioned: "As Hidden Road continues to expand our product coverage – now including FX, cleared derivatives, OTC derivatives and synthetics, digital assets and more – offering our counterparties streamlined access to leading third-party technology is a logical extension of our strategy." "TT is recognized throughout the industry for its broad coverage and low latency, both of which align with Hidden Road's modern approach to quantitatively driven credit intermediation and multi-asset prime brokerage."The TT platform enables users to manage the entire lifecycle of various financial instruments. From order and execution management to risk management and post-trade allocation, TT provides a solution designed to meet the diverse needs of institutions. In 2023 alone, the platform handled about 2.2 billion transactions, connecting to over 100 global exchanges and liquidity venues.Enhancing Institutional TradingLast month, Trading Technologies launched two new services: TT Futures TCA for transaction cost analysis in futures trading and TT Trade Surveillance for monitoring trading activities in multiple asset classes.The company mentioned that the new offerings will significantly strengthen its capabilities in data analytics and compliance. TT Futures TCA links the TT's repository of anonymized futures trading data with metrics and analytics. The service aims to provide a tool for analyzing and optimizing futures trading strategies. Additionally, Trading Technologies completed the acquisition of ATEO SAS, a provider of post-trade solutions for listed derivatives, early this year. In the agreement, ATEO will operate as a managed service hosted in Trading Technologies' data centers. This acquisition enables TT's clients to access ATEO's post-trade services to enhance operational efficiency. This article was written by Jared Kirui at www.financemagnates.com.

Zoom is the ultimate story of “right time, right place”. The video conferencing software spiked during the pandemic, but these days it’s struggling.Zoom's Meteoric RiseRemember the early days of the pandemic when Zoom was the superhero of remote work? Everyone from forex traders to teachers seemed to be a Zoom evangelist. The platform soared as millions of people shifted to virtual meetings, family gatherings, and even happy hours. Zoom's market capitalization hit an astronomical $139 billion in October 2020. It was the darling of the tech world, synonymous with the new normal. However, fast forward to 2024, and the picture isn't as rosy.The Revenue RollercoasterZoom's revenue story is a classic example of a thrilling rollercoaster ride. According to Statista, the revenue growth that seemed unstoppable during the pandemic has hit a wall. Zoom's quarterly revenue has remained nearly flat since 2022. The economic slowdown, coupled with a return to physical offices and increasing competition, has significantly dampened its financial momentum.In 2020, Zoom was the go-to solution for businesses worldwide. However, as the dust of the pandemic settles, companies are diversifying their tech stacks, and Zoom is no longer the sole player in town. The flattening revenue curve underscores a critical challenge: sustaining growth in a post-pandemic world.The Valuation CrashNothing captures Zoom's dramatic shift better than its market valuation. The peak of $139 billion in October 2020 was a high note, driven by the unprecedented demand for remote communication tools. However, by mid-2024, Zoom's valuation had nosedived to around $18 billion. This steep decline isn't just a number; it reflects the harsh economic realities and stiff competition Zoom now faces.Zoom's market cap drop mirrors the broader tech industry's correction, but it also signals investor skepticism about its long-term growth prospects. The once high-flying stock is now grounded, navigating through economic turbulence and strategic uncertainties.The Competition Heats UpIf 2020 was the year of Zoom, 2024 is the year of fierce competition. Platforms like Microsoft Teams, Google Meet, and Cisco Webex have stepped up their game, offering integrated solutions that cater to a wide array of business needs. As Search Logistics reports, these rivals are not just catching up; they are innovating rapidly to chip away at Zoom's market share.Microsoft Teams, for example, is deeply integrated into the Office 365 suite, making it a seamless choice for enterprises already using Microsoft's ecosystem. Google Meet has leveraged its Google Workspace integration, while Cisco Webex continues to be a strong player in enterprise communications. Zoom's challenge is to differentiate itself in an increasingly crowded and competitive market.User Engagement and RetentionDespite the slowdown, Zoom remains a significant player in the video conferencing arena. According to Backlinko, Zoom had approximately 300 million daily meeting participants in 2020, a figure that has seen fluctuations but remains robust. Alongside this, Zoom’s enterprise customers have remained steady, at somewhere between 210,000 and 220,000. The platform's ability to retain users hinges on continuous innovation and adapting to the changing needs of remote and hybrid work models.Zoom Workplace is now available! ?Download or update your Zoom app to unlock productivity and reimagine teamwork with our new AI-powered collaboration platform. ?Get to know the new Zoom Workplace and see how it can make your workday work better for you here ?… pic.twitter.com/PARqI8coNt— Zoom (@Zoom) April 15, 2024User engagement is critical and Zoom has made strides with features like Zoom Apps, artificial intelligence (AI) integration, Zoom Workplace, Zoom Rooms, and enhanced security measures. However, the question remains whether these innovations are enough to keep users loyal in a market brimming with alternatives.What’s your favorite way to use Zoom AI Companion during the workday? ✨— Zoom (@Zoom) June 21, 2024The Path ForwardZoom's journey from a pandemic superstar to a company grappling with growth challenges is a tale of adaptation. According to Skillademia, Zoom still generates a significant portion of its revenue from paid subscriptions, particularly from enterprise customers. The key to its future lies in leveraging its established user base and evolving its offerings to stay relevant.The hybrid work model presents both a challenge and an opportunity. As organizations embrace flexible work arrangements, Zoom has the potential to be a crucial tool. However, it must continuously prove its value against competitors that offer comprehensive collaboration suites.Cautious OptimismZoom’s outlook in 2024 appears to be a blend of resilience and caution. The company that once epitomized the shift to remote work is now navigating a more complex landscape. Its revenue has plateaued, its market cap has shrunk, and competition is fiercer than ever. Yet, Zoom's brand remains strong, and its ability to adapt will determine its future trajectory.Zoom's evolution is a compelling case study of rapid growth, market saturation, and the relentless pace of technological innovation. As Zoom continues to chart its path forward, workers around the world are watching, wondering whether it can once again redefine how we connect and communicate.For more finance-adjacent stories, visit our Trending section. This article was written by Louis Parks at www.financemagnates.com.

Forex Expo Dubai is gearing up to host over 15,000 attendees from more than 50+ countries, solidifying its position as the largest event of its kind this year. Scheduled to take place once again in Dubai on 7th-8th October, this underscores Dubai's enduring role as a global hub driving growth and innovation in the fintech and online trading landscape.Building on the unprecedented success of last year's event, which witnessed record-breaking attendance and transformative discussions, Forex Expo Dubai 2024 promises an even more immersive and impactful experience. Attendees can anticipate a robust lineup of seminars, workshops, and panel discussions covering a diverse array of topics, including forex trading strategies, market analysis, risk management, and emerging trends in fintech and financial markets.Key Highlights of Forex Expo Dubai 2024:· World's Largest Event: This year's exhibition is poised to be the world's largest gathering in fintech and online trading.· Surpassing Previous Records: Registration and sponsorship numbers for Forex Expo Dubai have already surpassed last year's figures, with numbers steadily climbing ahead of October.· Dedicated B2B Zones: The specially designed B2B zones offer a conducive environment for in-depth professional interactions and high-level business matchmaking.· Side Events: Multiple side events including private parties, investor workshops, and IB seminars complement the main expo, providing additional opportunities for learning and networking.· Mobile App: To facilitate effective networking and communication, Forex Expo Dubai has launched a new mobile app featuring AI matchmaking, enabling participants to interact and schedule meetings in real-time.Last year's event featured insightful presentations from renowned speakers and industry leaders, fostering invaluable knowledge sharing and networking opportunities. Building on this success, Forex Expo Dubai 2024 aims to deliver an expanded program with more interactive sessions, expert insights, and hands-on workshops to empower attendees with the tools and knowledge needed to excel in today's dynamic trading and fintech landscape."We are thrilled to announce the return of Forex Expo Dubai for its 2024 edition," said Michael Xuan, Event Organizer of Forex Expo Dubai. "With a focus on innovation, education, and networking, Forex Expo Dubai 2024 promises to be the must-attend event for anyone involved in the forex, trading, and fintech industry in the Middle East."Registration for Forex Expo Dubai 2024 is now open. Attendees have the opportunity to join thousands of traders, investors, and industry professionals from around the world at the premier forex and fintech event in the Middle East.For more information and updates on Forex Expo Dubai: https://theforexexpo.com/dubai2024/About Forex Expo DubaiForex Expo Dubai is the leading event in the Forex industry, serving as the largest networking hub for global fintech and online trading professionals. It offers a prime opportunity for participants to expand their knowledge, forge partnerships, discover new business opportunities, and engage with thought leaders and influencers from around the globe. This article was written by FM Contributors at www.financemagnates.com.

FXOpen has announced the expansion of its integration with TradingView. This update includes availability on mobile apps. Users can now trade through FXOpen using TradingView mobile applications, providing flexibility for traders.FXOpen Now on TradingView MobileThe integration combines advanced technology and a focus on customer service. FXOpen ensures instant trade execution through multiple liquidity providers, offering real-time prices. This enhancement allows more users to find a broker that matches their trading needs through the TradingView mobile app.Traders can access all FXOpen features on mobile devices. To use this service, open the TradingView mobile app, connect to FXOpen on the Chart screen using broker account credentials, and start trading.In December 2022, FXOpen established a partnership with TradingView, a charting and social network platform. This collaboration allowed FXOpen to offer TradingView as a fourth trading platform option alongside MetaTrader 4, MetaTrader 5, and TickTrader to its customers. FXOpen disclosed to Finance Magnates that this integration enables its UK customers to utilize advanced charting tools, execute trades directly from TradingView charts, and engage with a large community of traders. Gary Thomson, COO of FXOpen UK, emphasized that the partnership enhances customer access to TradingView's platform, known for its extensive user base of over 30 million monthly users who engage in charting, chatting, and trading activities. Rauan Khassan, VP of International Growth at TradingView, highlighted the collaboration as a significant advancement in solidifying TradingView's role as a comprehensive live trading platform.Operational Improvements Narrow LossesThe parent company of FXOpen, a UK-based forex and CFDs broker, released its fiscal year 2022 financial report, showing a turnover of £645,643 and a net loss of £338,651. The company saw a 5.5% increase in turnover, despite a slight decrease in gross profit to £436,452 due to higher sales costs. Administrative costs decreased, leading to an operating loss of £341,426, an improvement from the previous year. Including foreign exchange gains, the company reported a total comprehensive loss of £297,934, down from £456,913 in the prior year. This article was written by Tareq Sikder at www.financemagnates.com.

Webull Canada, a digital investment platform, has introduced Tax Free Savings Accounts (TFSAs) and Registered Retirement Savings Accounts (RRSPs) today. These accounts are designed to facilitate long-term savings and maximize earnings for users.TFSA and RRSP Options for Savvy InvestorsThe TFSA option enables users to invest and save money with the advantage of tax-free growth on their investments. It offers a flexible way to accumulate savings over time without incurring taxes on the returns.On the other hand, the RRSP offering serves as a retirement savings plan, allowing users to contribute funds towards their retirement with potential tax benefits.Additionally, Webull Canada continues to support Canadian investors with its Desktop platform, enhancing accessibility and functionality for users navigating the complexities of investment management."Our top priority at Webull is to provide our users with the tools they need to meet their financial goals, and these new account types help to achieve that," said Michael Constantino, CEO of Webull Securities (Canada) Limited. "TFSAs and RRSPs have been highly requested by our Canadian customers, and we are pleased to launch these products based on their feedback."Cash Management with Competitive Interest RatesEarlier, Webull Canada introduced a cash management solution allowing users to earn interest rates of 4% on Canadian dollars or 3% on US dollars held as uninvested cash, as reported by Finance Magnates.The initiative responds to growing demand for investment platforms offering enhanced benefits beyond traditional trading options. By providing interest on idle cash, Webull Canada aims to attract investors seeking to optimize their returns.Headquartered in St. Petersburg, Florida, Webull is recognized for its diverse investment offerings. The company serves tens of millions of users across 180 countries and is supported by private equity investors from the US, Europe, and Asia. Webull facilitates trading in stocks, ETFs, options, and fractional shares with continuous access to global financial markets. This article was written by Tareq Sikder at www.financemagnates.com.

Today (Tuesday), Campbell MacPherson announced via LinkedIn his appointment as Chief Executive Officer of Capital.com’s Australian operations, effective immediately. Professional Journey and Educational BackgroundPrior to this role, MacPherson served as Regional Director of Sales at FactSet, where he managed a team responsible for expanding FactSet's business across various asset classes in the Pacific region. His responsibilities included overseeing strategic growth initiatives for bank and wealth clients, as well as providing executive oversight for key regional accounts.Before his tenure at FactSet, MacPherson held roles at Glenmoira Consulting, focusing on business consultancy, development strategy, and project management. He also served as a Strategic Advisor and Non-Executive Director at Jaaims, where he contributed to financial technology and strategic partnerships. Additionally, MacPherson worked as a Strategic Advisor in Business Development at Caplin Systems, where he was involved in contract-based initiatives from 2019 to 2021.MacPherson's educational background includes a Bachelor of Agricultural Science with concentrations in Economics and Agronomy from the University of Melbourne. He has also completed a Master Class in Project Management at the University of Sydney. These academic qualifications provide a foundational framework that complements his professional expertise in various sectors, including financial technology and consultancy. Meanwhile, Stephen Williams, who spent nearly six years as a Premium Client Manager at IG Group, has transitioned to Capital.com, as reported by Finance Magnates. With over 15 years in financial markets, Williams will resume his role at Capital.com's Australian office, mirroring his tenure at IG from 2018 to 2024.New CEO for Australian ExpansionIn his new capacity at Capital.com, MacPherson will lead the company’s Australian operations, bringing his extensive experience in strategic leadership and business development to drive growth and operational excellence.MacPherson expressed his enthusiasm for the opportunity, stating: " I am thrilled to share that I've been appointed to lead Capital.com’s Australian operations. With a renowned track record, a skilled team, and promising growth opportunities, I am looking forward to steering the team towards enhanced business performance.” This article was written by Tareq Sikder at www.financemagnates.com.

HIVE Digital Technologies, a cryptocurrency mining company, certainly has reasons to be pleased, as the last 12 months have presented a much better picture of its operations. After a record weak fiscal year in 2023, during which the company's revenues fell by 50% and net losses reached $236 million, 2024 proved much more favorable, although profitability was not achieved.HIVE Digital Balances Bitcoin Mining and AI Expansion in Fiscal 2024The company reported annual revenue of $114.5 million and adjusted EBITDA of $37.5 million for the fiscal year ended March 31, 2024. During the period, the company mined 3,123 Bitcoin and held 2,287 Bitcoin worth $161.3 million on its balance sheet at year-end.HIVE's revenue increased by approximately 8% compared to the previous fiscal year, with $111.0 million generated from digital currency mining and $3.4 million from its high-performance computing (HPC) business. The company achieved a gross operating margin of $40.3 million, representing a 36% operating margin.Despite reporting a net loss of $51.2 million for the year, HIVE emphasized that this figure includes significant non-cash charges, such as $66.4 million in depreciation and a $6.8 million provision on sales tax receivables. The company noted a comprehensive income of $25.0 million when factoring in a $77.3 million gain from the revaluation of digital currencies."We have led the industry with among the lowest G&A and the lowest share dilution while using cashflow from operations to strategically and carefully upgrade and expand our fleet of Bitcoin mining ASICs," said Aydin Kilic, President & CEO of HIVE. "This is possible through our dedication to maintaining high uptime, lean operations, and seeking efficiencies in all aspects of our operations."Despite record Bitcoin prices in 2023, the mining company's stocks did not rise with the cryptocurrency. While they did reach two-month highs in March, by May they had fallen to multi-month lows again.Higher BTC Hashrate and Focus on AIHIVE increased its Bitcoin mining ASIC hashrate by 57% during the fiscal year, from 3.0 Exahash in March 2023 to 4.7 Exahash in March 2024. The company focused on environmental sustainability, sourcing green renewable energy for its mining operations in Canada, Sweden, and Iceland."Investors should recognize that the industry has grown to over 20 public Bitcoin mining stocks today, compared to approximately five at the last halving," Frank Holmes, Executive Chairman of HIVE, stated, highlighting the evolving landscape of Bitcoin mining stocks and the differences between US GAAP and IFRS accounting standards.The company also reported progress in its expansion into high-performance computing to support artificial intelligence applications using Nvidia GPU chips, which generated $7.2 million in annualized run-rate revenue by the end of the fiscal year.HIVE utilized at-the-market (ATM) equity programs during the year to raise capital, issuing shares for gross proceeds of C$38.1 million ($28.2 million) in the fourth quarter alone. The company stated it is using the net proceeds for purchasing data center equipment, strategic investments, and general working capital. This article was written by Damian Chmiel at www.financemagnates.com.

Trading industry stakeholders are constantly focused on emerging trends and growing markets globally. These monitoring, discussion, partnership, and development processes have rapidly increased in a global post-pandemic economic landscape. Notably, since 2020, major industry events have extended the list of countries they cover, companies have opened offices in new regions, and new local startups have emerged there.In this article, we discuss the opportunities and obstacles that brokerages face when introducing their services in African, LATAM, and Southeast Asia countries.What regions may we highlight as emerging markets?In mid-2024, three key regions can be considered as emerging markets within the trading industry: ● AFRICASouth Africa, Nigeria, Kenya, and Zimbabwe;● LATAMColombia, Mexico, Brazil, Chile, Peru, and Argentina;● SOUTH EAST ASIAThailand and Vietnam;All three in the past several years were the areas of ongoing expansion among global industry players and the places of increasing interest in brokerage services among the local population. This rising interest was complemented by the growing number of industry expos being held there. Their number will likely increase in the following years, attracting new brands, including liquidity providers, software developers, as well as marketing and other fintech experts.Expert discussionIn order to form an informed and balanced opinion on the challenges that brokers may face when entering the African, LATAM, or SEA markets, Brokeree spoke with industry experts who are active in these regions.During the discussion, Hardus Van Pletsen, CEO of QuickTrade, identified key obstacles brokers face while entering these markets.Firstly, the local market may be dominated by one major trading service provider. This is particularly relevant for African countries. Even if a new broker entering the market manages to attract local audiences to open trading accounts with them, there is a high likelihood that traders will keep their main deposits with a well-established company in the market.The next challenge is the volatility of broker-client relationships in the region. In the dynamically developing environment of these markets, brokers frequently face difficulties related to clients' and introducing broker (IB) intentions for a long-term partnership. Clients may switch from one broker to another for better trading conditions or more attractive bonuses. This continuous movement can present operational obstacles for brokers seeking to establish a stable presence in the area. Since client deposits can sometimes be modest, brokers must understand that these contributions may not always be enough to ensure the long-term success of their operations in a given country. This highlights the significance of building strong relationships based on trust and offering unique value propositions to retain clients and investment banks over the long term.We asked other industry experts to complement this opinion with their insights by answering the question: What challenges do retail brokerages encounter when operating within the markets of Africa, LATAM, and SouthEast Asia?“Retail brokerages face several challenges, including regulatory fragmentation, which can complicate compliance efforts across different countries. Infrastructure limitations, particularly in rural areas, pose barriers to consistent service delivery. Moreover, the relative lack of financial literacy among the general population necessitates greater investment in education and customer support,” said Ricardo A. Grados, Institutional sales LATAM at Finalto.“I believe that the African region is mostly an untapped area that stakeholders should fully explore and develop rather than concentrating on the largely explored markets of several countries like Nigeria, South Africa, and Kenya,” said Jesse Waiganjo, Business Development Manager at Brokeree Solutions. “There are a lot of regions that are yet to set up a framework for the regulations, and I believe these regions provide a great opportunity for both new and existing brokers to explore new markets,” he continued.Modern technologies mitigate infrastructure limitations and allow brokers to develop in parallel in several markets without operational contradictions. Some advanced solutions, like Brokeree’s Social Trading, extend trading platform abilities, allowing brokers to unite new audiences from new regions with their existing clientele base into a single pool of investors and signal providers. Thus, new clients from LATAM, Africa, Asia, Europe, and MENA could copy each other's signals in a few clicks.“Given that a majority of the population in Africa has access to mobile phones rather than computers, brokers and other stakeholders aiming to enter the African market should prioritize developing mobile-friendly trading platforms. This approach will better cater to the needs and preferences of the local market, ensuring greater accessibility and engagement,” said Jesse Waiganjo, Business Development Manager at Brokeree Solutions.Brokeree’s Social Trading has a mobile application with all the benefits of the desktop version.‘In Southeast Asia, the forex trading industry is subject to a complex web of regulations, with each country enforcing its own set of rules to govern financial activities. <...> Brokers aiming to expand their business into Southeast Asian markets must navigate these regulatory landscapes diligently. Compliance is not just about adhering to the letter of the law; it's about understanding the spirit of these regulations – which is to foster a transparent, competitive, and resilient financial environment. <...> Moreover, as the region's financial markets integrate further, there's a growing emphasis on harmonizing regulations to facilitate cross-border trading activities. Brokers who proactively align their operations with these evolving regulatory expectations will be well-positioned to capitalize on the burgeoning opportunities in Southeast Asia's forex trading space,” said Nizwan Shah, CEO of Nine Solution.“Retail brokerages such as TradingPRO encounter formidable challenges when operating in Africa, LATAM, and Southeast Asia. These regions present diverse regulatory landscapes, demanding meticulous compliance strategies to navigate effectively. Variations in market infrastructure and technological readiness require robust operational frameworks to ensure reliable trading platforms and data accessibility. Additionally, adapting customer support and educational initiatives to cater to varying levels of financial literacy and cultural diversity is crucial for building trust and engaging effectively with retail investors in these dynamic markets,” commented Fazril Izwan Nor Azmi, CEO of TradingPRO.Local vs. GlobalThe emerging market audience is mostly unfamiliar with the services that have already become widespread in the regions with the developed online trading industry. The rising demand for brokerage services from local audiences involves a full spectrum of industry offerings: forex, copy trading & portfolio management, prop trading, trading with micro lots, etc. Brokers have an opportunity to meet this demand with their services, but they are rightfully concerned about several challenges. Increasing attention and emerging opportunities entice local entrepreneurs to launch a startup to enter the brokerage industry with this rising trend. The challenge appears when these new companies face well-established players from the global industry in their markets. These brokerages with developed trading infrastructure and business development teams are also attracted to the same opportunities and look forward to introducing their offerings to new clientele.International companies that enter new markets are likely to offer more attractive trading conditions to their new clients. Established companies have a more developed technical and operational infrastructure, which includes better liquidity management. To compete, local entrepreneurs can take advantage of their knowledge of the cultural specifics of the audience and use their physical presence in the region to establish more trustworthy relationships with potential clients. This proximity allows local brokers to create a more personalized offer and gain customer appreciation. As for the lack of experience in infrastructure issues, it may be covered by consulting industry experts, who can help them build effective technical processes and create competitive trading conditions.What advice would you give to colleagues and clients?To access new markets, expand product offerings, and share expertise, both emerging and established brokerages need to collaborate and form strategic partnerships with other companies, such as liquidity providers, software developers, and marketing agencies. Collaboration is the name of the game when establishing a presence in emerging markets as it combines the international expertise of leading industry experts with the client-centric approach of local companies.We asked experts what advice they would give to colleagues and clients when introducing their services to new markets.“You must play the long game to make money in Africa. Be prepared to build your brand in Africa for a period of 10 to 15 years before you become entrenched” – Hardus Van Pletsen, CEO of Quicktrade.“Stakeholders should prioritize understanding and adapting to local cultural and economic contexts. Investing in financial literacy programs can build trust and foster long-term customer relationships. It’s also crucial to stay agile and innovative, leveraging local partnerships to navigate regulatory environments and infrastructure challenges effectively” – Ricardo A. Grados, Institutional sales LATAM at Finalto. “My advice to colleagues and clients looking to introduce services in Africa is to conduct thorough market research to understand the specific needs of each target country. This research will enable them to tailor their offerings to meet the unique demands of each market” – Jesse Waiganjo, Business Development Manager at Brokeree Solutions.“To effectively introduce the services to new markets, colleagues and clients should begin by meticulously researching market dynamics, including consumer behaviors, regulatory landscapes, and competitive analyses. It's imperative to tailor offerings to resonate with local preferences and needs, demonstrating a deep understanding and respect for cultural differences. Establishing strong local partnerships and investing in targeted marketing campaigns will help build credibility and foster relationships within the new market. Finally, maintaining agility and responsiveness to market feedback ensures continuous adaptation and sustainable growth in unfamiliar territories” – Fazril Izwan Nor Azmi, CEO of TradingPRO. This article was written by FM Contributors at www.financemagnates.com.

Hong Kong-based crypto trading platform DFX Labs has made strides toward obtaining a full operational license within the region. The platform achieved clearance under Hong Kong’s Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO).Trading Authorization PendingAccording to public records maintained by Hong Kong’s Securities and Futures Commission (SFC), DFX Labs has been acknowledged as "deemed to be licensed for providing the virtual asset service." This status, however, does not extend to authorization for crypto trading services. The SFC explicitly stated that while DFX Labs holds an active AMLO license, it has not yet been granted a trading license, and its application remains pending.DFX Labs submitted its application for the Hong Kong crypto license on December 27, 2023, listing Simon Au Yeung as the primary applicant. The platform was deemed to be licensed for its virtual asset service as of June 1.Despite these developments, DFX Labs' website continues to operate as an unlicensed virtual asset platform and is inaccessible to Hong Kong residents.DFX Labs nears full operational license in Hong Kong, awaits final approval for crypto tradingHong Kong-based crypto trading platform DFX Labs is nearing the acquisition of a full operational license in the region, having secured clearance under the Anti-Money Laundering and…— CoinNess Global (@CoinnessGL) June 25, 2024Promoting Offshore HubIn related news, three Hong Kong government entities—the Hong Kong Economic and Trade Office in Toronto (Toronto ETO), Invest Hong Kong (InvestHK), and StartmeupHK (SMUHK)—recently collaborated to promote Hong Kong as an offshore technology hub suitable for Canadian crypto and Web3 startups. This effort was highlighted at a conference in Toronto, where Emily Mo, Director of Toronto ETO, emphasized Hong Kong’s supportive regulatory environment for startup ventures, citing advantages such as lower taxes compared to Canada.Earlier in May, all crypto exchanges operating without a license in Hong Kong were mandated to cease operations. Several global exchanges, including OKX, Huobi HK, and Bybit, withdrew their license applications amid regulatory uncertainties. This article was written by Tareq Sikder at www.financemagnates.com.

FTX, the bankrupt cryptocurrency exchange, is set to seek court approval to proceed with a proposed liquidation plan aimed at repaying customers in cash. The plan faces opposition from some customers who argue they are entitled to higher repayments.Criticism over Valuation MethodsFTX, which filed for bankruptcy in November 2022, claims it has recovered up to $16 billion to settle customer claims, including over $12 billion in cash. The company asserts its intention to fully repay all customer claims, a stance it will present before U.S. Bankruptcy Judge John Dorsey in Wilmington, Delaware, on Tuesday.However, dissenting customers dispute FTX's repayment strategy, contending it relies on cryptocurrency valuations from November 2022, despite a significant increase in prices since then. For instance, customers who had one bitcoin deposited with FTX at the time of bankruptcy would now receive about $16,800 in cash, considerably less than the current market value of approximately $60,000 per bitcoin.Judge Dorsey has previously approved FTX's method of evaluating claims based on November 2022 prices. Nevertheless, many customers feel aggrieved by what they perceive as an unfair distribution, given the subsequent rise in cryptocurrency values.In response to the proposed plan, objecting creditors have voiced strong opposition, arguing that FTX's communication to customers about a "full recovery" with interest is misleading. They have filed lawsuits outside of bankruptcy court, challenging FTX's ownership of customer deposits and demanding repayment based on current cryptocurrency prices.FTX seeks creditor votes on bankruptcy wind-down payments https://t.co/HBLjhNpyP9 pic.twitter.com/EpkfGNfkpG— Reuters (@Reuters) June 25, 2024FTX Collapse: Impact on Millions of InvestorsFTX's collapse earlier sent shockwaves through the cryptocurrency sector, impacting an estimated 9 million customers and investors worldwide with substantial financial losses. The exchange's former CEO and founder, Sam Bankman-Fried, who is now serving a 25-year prison sentence, was implicated in the mismanagement that led to FTX's downfall.John Ray, FTX's current CEO, emphasized to Reuters that returning deposited cryptocurrencies directly to customers was not feasible due to misappropriation by the previous management. Ray, known for his expertise in corporate turnarounds, has been leading FTX through the complex bankruptcy proceedings. This article was written by Tareq Sikder at www.financemagnates.com.

LP Prime, a provider of liquidity in the forex and contracts for differences (CFDs) industry, has onboarded Marios Antoniou as the company’s new Chief Executive Officer. According to his LinkedIn profile, he joined the role earlier this month.Heading a New Company“I am eager to lead this incredible team and steer our collective efforts towards innovation and growth,” Antoniou wrote in a LinkedIn post. “Exciting times ahead as we work together to achieve new milestones and make a positive impact in our industry. Here's to new beginnings and great achievements!”LP Prime is a new entrant in the liquidity-providing industry. The company was founded earlier this year by Louay Amhaz, the former Director of Business Development at oneZero. As Finance Magnates reported earlier, the company offers access to more than 1,350 instruments, including forex, precious metals, indices, and stock CFDs.An Experienced Industry ExecutiveAntoniou brings about a decade of experience to the new role. He joined LP Prime from M4Markets, where he was the Chief Operating Officer for more than a year. Before that, he was the CEO of Invaxa, a lesser-known offshore forex and CFDs broker, which now appears to have been shuttered. He was one of the founding members of that broker, which was established in 2022, and was joined in other senior roles by several former employees of his previous brokerage employers. However, that brand seems to have failed to take off and is now shuttered.Additionally, he worked at Cyprus-based Deltamark Fund Management as a Risk Manager and Executive Director for about a year before starting Invaxa.Antoniou started his career at the dealing desk of IronFX in 2014 where he worked for a couple of years. Later, he joined TOPFX as the Head of Dealing and then switched to Hellenic Bank as Group Market and Liquidity Risk Management Officer. Furthermore, he was an executive at the Cyprus-regulated broker Axiance, which was rebranded from EverFX. This article was written by Arnab Shome at www.financemagnates.com.

After nearly six years at IG Group as a Premium Client Manager, Stephen Williams has made the move to Capital.com. The veteran, with over 15 years of experience in financial markets, will take on the same role at the broker's Australian office that he held at IG from 2018 to 2024.Capital.com Snags New Premium Client ManagerWilliams announced on Tuesday via social media that he's joining the Capital.com brokerage team in Melbourne. He'll be stepping into the same position he held at IG Group's Australian division as Premium Client Manager."I'm happy to share that I'm starting a new position as Premium Client Manager at Capital.com," Williams wrote on his LinkedIn profile.This move comes at a time when Capital.com has been doubling down on expanding its offerings in the Australian market. The company has ramped up its Melbourne workforce to about 30 employees and is gearing up for promotional campaigns targeting this specific market.Williams kicked off his career in financial markets in 2008 at Leveraged Equities. He joined IG in late 2018, where he was responsible for maintaining relationships and organizing events for premium clients, as well as managing platform operations and order execution.This move marks another staffing change at Capital.com over the last month. In mid-May, the broker promoted Rupert Osborne to the newly created role of UK CEO. Osborne has taken over the responsibilities of CEO of the UK operations from Kypros Zoumidou, who remains the Group CEO.Meanwhile, the company has encountered some issues in the UK. The official website for its FX/CFD trading service has announced that it has "for now" suspended the registration of new clients under the Capital Com (UK) Limited entity.Overall, the broker's operations continue to expand. According to the Q1 2024 report, trading volumes reached $1.2 trillion, increasing by 53%. The number of active investors also rose by 17%. This article was written by Damian Chmiel at www.financemagnates.com.

Deriv, a globally recognised online trading company with a 25-year legacy of trust, innovation, and service, has been awarded the ‘Most Trusted Broker’ award for 2024. This accolade from the Ultimate Fintech Global Awards 2024 reaffirms Deriv’s leadership in the industry and adds to its impressive list of recognitions this year, including ‘Best Trading Experience Latam 2024’ and ‘Best Latam Region Broker’.The ‘Most Trusted Broker’ award underscores Deriv’s commitment to credibility and customer satisfaction. Available in multiple languages, Deriv’s user-friendly platforms are designed to provide a seamless trading experience and 24/7 customer support. Incorporating additional safety measures for users, Deriv prioritises client security and being transparent about all fees on its website. Deriv's adherence to stringent financial standards is evident through its regulation by reputed financial institutions, which ensures a secure and reliable trading environment for clients.In pursuit of continuous innovation, Deriv enhanced its services for mobile use, significantly improving trading accessibility for clients worldwide. In addition to advanced trading tools, the company offers a risk-free trading environment through virtual funds, allowing clients to practise and refine their strategies before engaging in real-money trading. These initiatives reflect Deriv’s commitment to building lasting relationships with customers."Receiving the ‘Most Trusted Broker’ award from Ultimate Fintech Global Awards 2024 is a reflection of our continued commitment to provide cutting-edge products and services to our clients,” said Aggelos Armenatzoglou, Head of Dealing."It feels particularly significant to get an award that calls out our commitment to trust in the same year that Deriv turns 25. For a quarter of a century, we have been dedicated to our values of trust, service, and innovation. As we get set to take on the next chapter for Deriv, these values will continue to steer our mission to make trading accessible to everyone, everywhere.” About DerivFor 25 years, Deriv has been committed to making online trading accessible to anyone, anywhere. Trusted by over 2.5 million traders worldwide, the company offers an expansive range of trade types and boasts over 200 assets across popular markets on its award-winning, intuitive trading platforms. With a workforce of more than 1,300 people globally, Deriv has cultivated an environment that celebrates achievements, encourages professional growth, and fosters talent development, which is reflected in its Platinum accreditation by Investors in People. This article was written by FM Contributors at www.financemagnates.com.

Promontory Technologies is excited to announce the launch of its Promontory Alpha Fund, a quantitative, systematic, multi-strategy approach to trade liquid listed digital (“crypto”) assets. The fund is designed to be market-neutral and avoid deep drawdowns, offering both a BVI vehicle for non-US investors and a Delaware LP for US investors.Promontory’s CEO, Jackson Fu, was a day-one co-founder of the highly successful Qilin Investment, a top-rated quant hedge fund manager based in Shanghai. Since its launch in 2016, Qilin has managed USD $5-7 billion in AUM with excellent risk-adjusted performance, earning it the nickname “The DE Shaw of Asia”. The Promontory team includes several key members from Qilin and brings a strong pedigree in the quant systematic trading space to the crypto markets.Notably, the new fund has attracted capital from investors such as prominent Asian family offices and billionaire entrepreneurs, which the team hopes will underscore confidence in Promontory’s approach and team.Joining Jackson at Promontory from Qilin, are CIO Robin Liu, and several top quants and developers. Robin previously managed a USD $100 million (5,000 BTC) quant crypto strategy at Amber Group. The Promontory team, now 15 strong, includes seasoned professionals from BlackRock, Brevan Howard, Deutsche Bank, Morgan Stanley, OKX, Huobi, Gate, and WorldQuant.Promontory’s strategy uses advanced quantitative techniques, data science, AI, machine learning, and risk modeling to identify uncorrelated alpha in liquid digital assets. By diversifying capital and risk across a broad mix of sub-strategies and factors, the strategy achieves strong diversification and multiple sources of alpha. The team has adapted and honed their models and algorithms over several years to work successfully in the crypto space and has been trading these models in the crypto markets.Jackson commented, “We are thrilled to launch our external co-mingled fund vehicle. Our key value proposition lies in our ability to outperform traditional hedge funds by capitalizing on crypto’s high volatility and inefficiencies, all while avoiding the significant volatility and drawdowns of the underlying crypto assets through highly structured and repeatable trading processes and algorithms.”The strategy is offered in USD, BTC, and ETH share classes and provides separately managed accounts.About Promontory TechnologiesPromontory Technologies (http://www.promotechfi.com/) is the premier digital asset management firm dedicated to serving family offices, institutions, and high net worth individuals. Promontory provides digital asset exposure, risk management and diversification through a quantitative systematic hedge fund, venture capital, market making and OTC services.The firm is helmed by a team of seasoned executives who have successfully managed a quantitative hedge fund with over US$7 billion in AUM in the traditional securities markets, as well as a crypto quantitative hedge fund with over US$200 million in AUM. This article was written by FM Contributors at www.financemagnates.com.

Four months after chaos erupted in the retail proprietary trading industry due to MetaQuotes' license suspensions, prop firms are gradually reintroducing the popular MetaTrader platforms to their offerings. Union Wealth Management (UWM) is the latest to join this trend, relaunching trading on the platform most favored by retail traders.Prop Firm UWM Reintroduces MetaTrader PlatformsUWM announced on social media on Monday that MetaTrader 4 and 5 are once again available in their lineup, along with new trading challenges. However, migration from other platforms supported by UWM is impossible, as a different broker now handles MetaTrader operations.MetaTrader is now out! ?https://t.co/Sycn9nmEaG pic.twitter.com/eirdtcRoFV— UWMTrading.com (@UWMTrading) June 24, 2024UWM was among many prop firms that lost access to MetaTrader in February. The reason was straightforward: MetaQuotes began tightening its grip on proprietary trading firms, leading to banning users from the United States.Many brokers who previously offered access to prop trading firms terminated all agreements, fearing additional regulatory consequences - regardless of whether the firm served US clients or not. As a result, prop firms lost access to MetaQuotes platforms. However, some are now regaining it through new partnerships.As Finance Magnates reported over the weekend, Goat Funded Trader (GFT) also successfully reintroduced MetaTrader to its clients, reportedly through implementing "in-house tech." It's hard to say whether this marks an industry shift and a widespread return of MT to the offerings of prop trading firms, but a new trend is certainly emerging.A New-Old Agreement with Eightcap?Information obtained by Finance Magnates suggests that UWM may have been able to offer MetaTrader 4 and 5 to its clients again thanks to "a new deal based on the updated agreement" with Eightcap.Interestingly, Eightcap was allegedly one of the brokers at the center of the prop trading industry's problems in February. Many firms reported at the time that the company was terminating its services, forcing them to seek new partners or migrate to other platforms.At first glance, it appears that UWM is only a "referrer" to Eightcap under the new agreement, with the broker responsible for administering prop trading challenges offered on the platform and all deposits and payouts."Trading platform access for Challengers is facilitated by Eightcap Global," reads one of the banners promoting the return to MetaTrader.Finance Magnates will update this article when more detailed information becomes available about how UWM regained access to MetaTrader. This article was written by Damian Chmiel at www.financemagnates.com.

Bitpanda, the Vienna-based cryptocurrency broker and fintech unicorn, announced Tuesday that its user base has surpassed 5 million retail investors. The milestone comes after a significant growth period in Q2 2024, when the number of retail traders grew by 25%yes, .Bitpanda's User Base Surges to 5 Million as Crypto Interest GrowsAfter taking five years to reach its first million users, Bitpanda has added another million in just the past 12 months, reflecting surging interest in digital asset trading across Europe. The record-high Bitcoin (BTC) prices achieved in March and sustained throughout the second quarter also had an impact."We have the right products, a proven history of working with regulators, and immense trust from our users and partners," said Lukas Enzersdorfer-Konrad, Deputy CEO of Bitpanda. "It took us five years to reach our first million users; we were able to achieve this same feat in the past 12 months alone."The expansion follows a record-setting first quarter for Bitpanda, which reported revenue of $109 million. The company has been positioning itself for growth, acquiring new regulatory licenses and launching partnerships with established financial institutions like Deutsche Bank and N26.The platform recently established a partnership with the German bank Landesbank Baden-Württemberg (LBBW). Through this collaboration, Bitpanda aims to introduce cryptocurrency custody services to LBBW's offerings.Bitpanda has been operating as a licensed entity in the German cryptocurrency market since late 2022, holding independent authorizations in several other European countries, including the UK, Italy, and France.Move to Middle EastBitpanda is now setting its sights on the Middle East, having recently launched operations in Dubai. Walid BenOthman, Managing Director of Bitpanda MENA, expressed optimism about the region's potential, citing projections that the UAE's digital asset market could reach $616.80 million by 2028."With a 25% surge in users over the past 12 months, we are confident in the strength of the MENA region and aspire to achieve similar success over the next year," BenOthman stated.Bitpanda is approaching its 10th anniversary and, according to its representatives, looks positively towards the future. However, after very good initial months of 2024, the cryptocurrency market is showing signs of overheating, and the price of BTC has fallen this week to nearly two-month lows. Since the beginning of June, Bitcoin has lost about 10%. This article was written by Damian Chmiel at www.financemagnates.com.