Weak Eurozone data and market sentiment weigh on EUR. Rising gold prices and oil price fluctuations impact currency exchange rates.   Diverging Monetary Policies: The Federal Reserve (Fed) and the European Central Bank (ECB) are pursuing significantly different monetary policies, which is a key driver of the EUR/USD exchange rate. The Fed has recently cut interest rates and maintained a dovish stance, signaling its intention to provide further economic stimulus. This dovish stance is weighing on the US Dollar, as investors anticipate lower interest rates in the United States. Conversely, the ECB is considering further rate cuts due to concerns about inflation and economic growth in the Eurozone. While the ECB has already cut interest rates, there is a possibility of additional cuts if economic conditions deteriorate. This uncertainty about the ECB’s future monetary policy is putting pressure on the Euro. The divergence in monetary policies between the Fed and the ECB is creating a favorable environment for the Euro to appreciate against the US Dollar. As investors anticipate lower interest rates in the United States and potential further rate cuts in the Eurozone, they are likely to shift their investments toward the Euro, which offers a higher yield compared to the US Dollar. Economic Data and Market Sentiment: Economic data and market sentiment are also influencing currency exchange rates. Weak Eurozone PMI data, particularly from Germany, is signaling economic contraction and contributing to the Euro’s decline. The Eurozone economy is facing headwinds from a variety of factors, including trade tensions, Brexit, and geopolitical risks. These factors are weighing on investor confidence in the Eurozone economy and leading to a weaker Euro. Mixed US PMI data is providing some support for the US Dollar, though its overall impact is less significant than the Fed’s rate cuts. While the US economy is showing signs of resilience, there are also concerns about its long-term growth prospects. The ongoing trade dispute with China, coupled with uncertainties surrounding the upcoming presidential election, are creating a degree of uncertainty for US businesses and investors. Changes in market risk sentiment, as reflected in stock market movements and geopolitical tensions, can also influence currency exchange rates. For example, rising geopolitical tensions can lead to a flight to safety, which may support the US Dollar as a safe-haven currency. Conversely, a decline in risk appetite can lead to a weakening of the US Dollar as investors seek to reduce their exposure to riskier assets. Commodity Price Dynamics: Commodity price dynamics can also impact currency exchange rates. The rising price of gold, driven by expectations of lower interest rates and geopolitical tensions, is indirectly supporting the Euro, as gold is often seen as a safe-haven asset. When investors become concerned about economic uncertainty or geopolitical risks, they may seek to invest in gold as a way to preserve their wealth. This increased demand for gold can lead to a stronger Euro, as the Euro is often used to purchase gold. Fluctuations in oil prices can also influence currency exchange rates, particularly for countries that are major oil producers or consumers. For instance, a rise in oil prices can benefit oil-exporting countries, leading to appreciation of their currencies. Conversely, a decline in oil prices can harm oil-exporting countries, leading to depreciation of their currencies.   Top 10 Economic Events for This Week High Impact Events RBA Interest Rate Decision and Rate Statement (September 24th): The Reserve Bank of Australia’s (RBA) interest rate decision and accompanying statement will significantly impact the Australian Dollar (AUD). A rate hike could strengthen the AUD, while a pause or rate cut could weaken it. ECB Monetary Policy Meeting (September 26th): The European Central Bank’s (ECB) monetary policy meeting and subsequent press conference will be closely watched by investors. Any hints of a potential rate cut or dovish shift could weaken the Euro (EUR). US GDP Data (September 26th): The release of US GDP data will provide insights into the health of the US economy. A stronger-than-expected GDP growth could strengthen the US Dollar (USD), while a weaker-than-expected reading could weaken it. Fed Chair Powell Speech (September 26th): The speech by Federal Reserve Chair Jerome Powell will be closely monitored for clues about the Fed’s future monetary policy path. A hawkish tone could strengthen the USD, while a dovish tone could weaken it. BoE Monetary Policy Report Hearings (September 26th): The Bank of England’s (BoE) monetary policy report hearings will provide insights into the central bank’s views on the UK economy and monetary policy. Any hints of a potential rate hike or dovish shift could impact the British Pound (GBP). Medium Impact Events ECB’s Elderson Speech (September 23rd): The speech by ECB Executive Board Member Isabel Schnabel could provide clues about the ECB’s monetary policy outlook. S&P Global/CIPS PMI Data (September 23rd): The release of PMI data for the UK will provide insights into the health of the UK economy. Fed Speeches (September 23rd, 24th, 25th, 26th): Several speeches by Federal Reserve officials will provide clues about the Fed’s monetary policy outlook. BoJ Governor Ueda Speech (September 24th): The speech by Bank of Japan Governor Kazuo Ueda could provide insights into the BoJ’s monetary policy stance. German Buba President Nagel Speech (September 23rd and 27th): The speeches by Bundesbank President Joachim Nagel could provide insights into the ECB’s monetary policy outlook.       The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff. The information does not constitute advice or a recommendation on any course of action and does not take into account your personal circumstances, financial situation, or individual needs. We strongly recommend you seek independent professional advice or conduct your own independent research before acting upon any information contained in this article.

Sygnum has obtained a crypto license in Liechtenstein as the company plans to expand into the European Union under the Markets in Crypto-Assets Regulation (MiCA). The bank’s subsidiary in Liechtenstein was granted a license to provide regulated digital asset services, including brokerage, custody, and banking, under the country’s Token and Trusted Technology Service Providers Act. This license will enable Sygnum to apply for a crypto-asset service provider (CASP) license under MiCA, once Liechtenstein adopts the regulation, expected in the first quarter of 2025. Sygnum is among several firms, including Coinbase and Circle, preparing to expand into Europe as MiCA regulations take effect. Licensed in Luxembourg, Singapore, and Switzerland, Sygnum plans to acquire new licenses in Europe under the Markets in Crypto Assets (MiCA) regulations. Additionally, Sygnum intends to expand its regulated operations in Hong Kong. MiCA provides a unified framework for the crypto industry, allowing companies licensed in one country to operate across all 27 EU member states and countries like Liechtenstein, part of the European Economic Area. Switzerland, where Sygnum is headquartered, is not part of this area. MiCA’s stablecoin regulations took effect in June, with broader rules expected by December. EU countries have begun registering crypto-asset service providers under the new regime. Martin Burgherr, Sygnum’s chief clients officer, commented, “The registration as CASP in Liechtenstein paves the way for a significant expansion of our regulated footprint into the EU, the world’s largest trading bloc.” In July, Sygnum Bank reported its first half-year profit as the U.S. debut of bitcoin exchange-traded funds (ETFs) and the ether approvals boosted trading volumes and other areas of its business. The Zurich-based crypto banking startup did not disclose its exact profit figure. However, it noted that the first-half spot crypto trading volume doubled from the previous year, and crypto derivatives volume surged by 500%. A $40 million fundraise in January increased its core equity capital to approximately $125 million. Sygnum also plans to expand in Asia via its fully-regulated digital asset financial services platform in Singapore, which offers asset management, corporate advisory, crypto custody, and brokerage. Crypto transfer volumes on Sygnum’s platform increased across each of its four core client segments: professional private investors, external asset managers and multi-family offices, crypto foundations and DLT companies, and funds and hedge funds, the firm said. Sygnum’s “Staking-as-a-Service” offering also outperformed, with the percentage of ether staked by its clients increasing to 42% amid the approval of spot Ethereum ETFs in the U.S., which currently exclude staking yields. The crypto bank’s institutional and professional investor client base is now approaching 2,000 globally, serviced by a team of over 250 people. Sygnum reached over 20 partner banks and financial institutions in June, enabling more than a third of the Swiss population to trade crypto through their primary banks and facilitating more than 1,000 trades per day, the firm claimed.  

EURCAD currency pair be expected to fall further toward the next support level 1.4950 (which stopped the previous minor correction B).   – EURCAD reversed from resistance area – Likely to fall to support level 1.4950 EURCAD currency pair recently reversed down from the resistance area set between the pivotal resistance level 1.5160 (which has been repeatedly reversing the price from the start of August, as you can see from the daily EURCAD chart below) and the upper daily Bollinger Band. The downward reversal from this resistance stopped the c-wave of the previous ABC correction (B) from the end of August – which is a part of the larger primary ABC correction B from the start of last month. Given the strength of the aforementioned resistance level 1.5160, the bearish euro sentiment that can be seen across the FX markets today and the overbought daily Stochastic, EURCAD currency pair be expected to fall further toward the next support level 1.4950 (which stopped the previous minor correction B). EURCAD Technical Analysis Report The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff. The information does not constitute advice or a recommendation on any course of action and does not take into account your personal circumstances, financial situation, or individual needs. We strongly recommend you seek independent professional advice or conduct your own independent research before acting upon any information contained in this article.

Indexes – or indices – are how we make sense of the world. Through placing similar items into a shared category, it’s easier to keep track of them, whether we’re talking about a genre of literary fiction or precious metals. In the context of financial markets, indexes aren’t just useful for tracking similar items: they’re good for trading them, enabling investors to access a diverse basket of assets through a single mechanism. While synonymous with traditional finance (TradFi), where indexes provide a benchmark for markets such as the S&P 500, Dow Jones Industrial Average (DJIA), and FTSE 100, they’re now starting to appear onchain, allowing DeFi users to track entire sectors of the cryptoconomy. And thanks to tokenization, it’s also possible to trade these indexes through purchasing just one token instead of many. The rise of crypto indexes, bringing this TradFi staple to DeFi, has expanded the opportunities for making money onchain while diversifying risk. An Index for Everything As early as 2021, DeFi developers were experimenting with tokens that track the price of a basket of crypto assets, albeit with mixed results. In the last 12 months, however, rapid growth in tokenized real-world assets (RWAs) has fueled a surge in indexes that allow users to track the RWA sector and passively invest in it too. One of the first web3 projects to produce an RWA index is financial data provider Truflation. Its Hedge Index includes a weighting of RWAs including equities, precious metals, commodities, and currencies and is one of several crypto indexes it’s created. For DeFi users, the ability to consult indexes dedicated to a specific sector makes it easier to monitor performance in real-time and see how it holds up against other investment classes. But for individuals who don’t just wish to spectate, crypto indexes can also be traded directly, allowing for “skin in the game” without needing to obsess over which particular assets to acquire and in what weighting. Not all indexes are designed to be actively traded incidentally; CoinDesk’s DeFi Index, for example, provides a benchmark for guiding investors. They use it for reference, in other words, before deciding which DeFi assets to invest in – or whether to invest in them at all – based on its performance. The Case for Crypto Indexes There are a number of reasons why investing in an index can prove attractive to crypto users. For one thing, it can provide a sound diversification strategy. Selecting a basket of DeFi assets, for example, reduces risk since if one token underperforms, losses will be minimized. At the same time, if the whole sector outperforms the rest of the market, the upside remains uncapped. The other primary reason why assets are attractive to crypto investors is because they make it easy to gain exposure to a particular industry without needing to become an expert at it. You can be bullish on AI without knowing exactly which AI stocks or tokens are likely to perform best and an index solves for this. The growth of tokenized RWAs coupled with a trend for DeFi reimagining the best elements of TradFi has made indexes an investment vehicle whose time has come. Greater onchain data availability has meant that web3 builders now have a wealth of options at their disposal, including the ability to create indexes that incorporate on- and off-chain pricing. As a result, expect to see new crypto indexes coming onstream catering to everything from commodities to memecoins. If it can be categorized it can and will be indexed. The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff.

ATFX, a leading global online trading platform, has announced completion of relocation of all MT Trading servers to Equinix Data Center in Hong Kong and OneZero Equinix Data Center in London, further enhancing its global trading infrastructure. This initiative aims to optimize services across China, Southeast Asia, Australia, MENA and LATAM ensuring that clients experience faster and more stable trading. Equinix is leading global colocation and interconnection vendor provides customers with excellent performance and resiliency from their global network with low latency. Joe Li, Chairman of ATFX Group, stated, “We are committed to delivering the highest quality trading services to our global clients. By relocating all trading servers to Equinix, we not only enhance trading speed and stability globally but also lay a solid foundation for future technological innovations and market expansions.” The Equinix relocation project redesigns the entire MT server data center and network infrastructure. This upgrade represents not only an enhancement of the existing system but also a strategic layout for future growth. Currently, ATFX operates 9 MT4/MT5 servers, which have now been expanded to ATFXGM22 server to meet the growing customer demand. The relocation project also redesigns the global connectivity network which significantly improves network connection speeds. Recent network latency tests have demonstrated from 60% to 150% improvement, according to different service regions. These advancements greatly enhance trading efficiency and stability, indicating a significant improvement in global trading network performance. Since its inception, ATFX has focused on integrating the latest network trading technologies with fintech to provide secure, reliable, and efficient trading and data storage solutions. ATFX’s commitment to innovation is evident in its record of pioneering technologies, such as the application of blockchain technology and AI-powered electronic KYC solutions, reflecting its proactive approach to staying at the forefront of the industry. These initiatives demonstrate ATFX’s active response to the rapid changes in the global financial markets, continuously providing outstanding trading experiences through technological innovation and infrastructure upgrades. About ATFX ATFX is a leading fintech brokerage with a global presence of 23 locations, licensed by regulatory bodies including the UK FCA, Cyprus CySEC, UAE SCA, Australia ASIC, South Africa FSCA, and HK SFC. ATFX is dedicated to client satisfaction, innovative technology, and strict regulatory compliance, offering exceptional trading experiences worldwide. For more information about ATFX, please visit site. The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff.

The U.S. District Court for the Northern District of California has ordered William Koo Ichioka, a New York resident formerly of San Francisco, to pay $31 million in restitution and a $5 million civil monetary penalty in connection with a Forex and Crypto fraud. Judge Vince Chhabria ruled that Ichioka would pay the total sum of $36 million for his role in accepting investment funds from participants with false claims of a 10% return every 30 business days. Ichioka Ventures behind FX and Crypto Ponzi scheme Although Ichioka invested some funds in forex and digital asset commodities, he commingled participant money with his own funds and used participant funds for his own personal expenses, including, among other things, rent for his personal residence, jewelry, watches, and luxury vehicles. The court, based on CFTC and DoJ findings, learned that Ichioka concealed his fraudulent activity by overstating the value of assets he held by generating false financial documents and presenting false account statements to participants. William Koo Ichioka was subject to a civil complaint by the CFTC as well as a criminal action by the Department of Justice, which charged Ichioka with one count of wire fraud, two counts of preparing false tax returns, one count of fraud in connection with the purchase and sale of securities and one count of commodities fraud, all based on the same conduct alleged in the CFTC’s complaint. Ichioka pled guilty to these charges in July 2023 and subsequently was sentenced to 48 months in prison, given an additional term of 5 years of supervised release, and ordered to pay a $5 million fine, and $31,330,715.86 in restitution to victims. Ichioka, 30, had pled guilty in July 2023 to five felony charges, including wire fraud, tax fraud, securities fraud, and commodities fraud. Court documents revealed that from 2018 to 2019, he solicited investments through his company, Ichioka Ventures, promising investors returns of 10% every 30 days from trading in cryptocurrencies, securities, and other assets. Over this period, he managed to raise more than $21 million from over 100 victims. However, Ichioka’s investment claims were unfounded. By late 2019, Ichioka privately acknowledged to associates that the “company hasn’t made any money since we started.” To perpetuate his scheme, Ichioka repaid earlier investors with money obtained from new investments, creating a Ponzi-like structure. His financial mismanagement left him indebted, with at least $21 million owed to non-family investors and over $40 million to family members who contributed funds to the venture.

Whenever three-month US Treasury notes trade higher than 10-year US Treasuries, the interest rate cycle is near a top. This time, the market had to wait longer than usual, but the indication was confirmed again… The Fed reduced the Fed fund rate by 50 basis points and indicated that another 50 basis points are possible by the end of the year. However, the US Treasury with a term of 2 years is currently pricing more than 125 basis points for the next two years… This is also confirmed by the futures… Even if the Fed does not want to talk about a recession, the Heart Beat of the US economy still sees a 69% risk of a recession. Before the Fed meeting, this was 71%, so the Fed’s words have done little to calm the situation… By contrast, the Citi US Economic Surprise Index rose sharply recently. This does not confirm expectations of a strong potential for further interest rate cuts… It is also interesting to note that the long term bond market volatility cycle is again pointing to the possibility of rising volatility over the next few months – which may indicate unrest in the bond market… However, the US dollar is likely to come under scrutiny even before the bond markets. Its strength decreased from 83% to just 33% within a month… The US Dollar Index is now only just above the 100 mark and could also fall below the August low. This would be tantamount to a double sell signal. The market pendulum is also falling and a test can be expected in the next few days… Copper rises during positive economic cycles, Gold during negative cycles (boom or bust). The Copper/Gold ratio is also very bearish for the US economy, as already shown by the heartbeat. The real market yield would therefore have to fall quite a bit, which in turn would be positive for the gold price… However, compared to the S&P500, it shows that it is correctly priced… By contrast, the comparison with the real US Economy Indicator shows that small and mid-sized stocks are trading at too low a price. The Russell 2000 could outperform the S&P500 index… The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff.  

Cryptocurrency exchange Bybit has leveraged advanced AI technology to screen nearly $1 billion in suspicious withdrawal attempts in the first half of 2024. By using machine learning algorithms, AI can rapidly and accurately analyze large amounts of data to detect suspicious transactions and patterns that could signal fraudulent activity. Bybit’s AI-driven risk engine thwarted over 8.4% of these withdrawals, preventing the loss of more than $79 million in client assets and $37 million in project funds. The exchange processed 32 million withdrawals, securing both hot and cold wallets with strict verification protocols. Bybit applies extra scrutiny to high-risk and large transactions to protect users from fraud in an ever-changing threat landscape. Bybit’s risk control engine and AI technology help defend against advanced fraud attempts, including AI-driven schemes. The platform’s AI detects unusual withdrawal patterns and complex fraud, like a recent attempt using face-swapping technology to bypass its KYC process. The system successfully blocked the attempt through live face detection and virtual camera monitoring. In addition to AI-driven fraud detection, Bybit uses multi-channel verifications, biometric authentication, and a team of over 50 risk and security experts to monitor suspicious activities. This multi-layered approach has enabled Bybit to maintain a fraudulent withdrawal rate below 10% in 2024. Bybit’s security efforts were recently recognized by CertiK, a blockchain auditor, and earned the platform a perfect 10/10 trust score on CoinGecko. The exchange continues to raise the bar for industry security through regular upgrades to its infrastructure, ensuring that user assets are protected by state-of-the-art technologies. Bybit’s security measures were recently acknowledged by blockchain auditor CertiK, earning the platform a perfect 10/10 trust score on CoinGecko. The latter provides fundamental analysis of cryptocurrency markets through intricate valuation methodologies revolving around market capitalization, volume and price. In June, ByBit became the world’s second-largest exchange by trading volume, surpassing Coinbase and chipping away at Binance’s market share amidst global regulatory challenges for Binance. “We are committed to strengthening our defenses and ensuring every aspect of the Bybit experience is safe and secure,” said Helen Liu, Bybit’s Chief Operating Officer, emphasizing the platform’s focus on delivering the highest security standards for its 40 million customers. “One of the main reasons users choose to use centralized exchanges is the high level of support and protection they offer. Bybit invests heavily in software, hardware and talent to ensure that our 40 million customers can trade with confidence, knowing that their assets are protected by the most secure blockchain security measures.” said Helen Liu, Chief Operating Officer of Bybit. “We are pleased to have kept the fraudulent rate in withdrawals below 10% in the first half of 2024, and we are committed to strengthening our first lines of defenses to ensure that every aspect of the Bybit experience is safe and secure,” continued Liu.

MicroStrategy has acquired an additional 7,420 Bitcoin (BTC) for $458.2 million between Sept. 13 and Sept. 19, at an average price of $61,750 per BTC, according to a Securities and Exchange Commission (SEC) filing on Friday. This latest transaction brings MicroStrategy’s total Bitcoin holdings to 252,220 BTC, valued at roughly $15.8 billion. The company’s cumulative investment in Bitcoin, including fees and expenses, totals around $9.9 billion, with an average purchase price of $39,266 per BTC, according to the company’s founder and executive chairman, Michael Saylor. This announcement follows news of MicroStrategy completing a $1.01 billion upsized private offering of convertible senior notes due 2028, with a 0.625% coupon and a 40% conversion premium. The company plans to use the proceeds from the offering to fully redeem its $500 million senior secured notes due 2028, a process expected to be completed on Sept. 26. Any remaining funds from the net proceeds will be allocated toward acquiring additional Bitcoin and for general corporate purposes. Upon the redemption of the senior secured notes, the collateral backing these notes, including approximately 69,080 BTC valued at $4.4 billion, will be released, according to the filing. MicroStrategy’s latest Bitcoin acquisition follows its recent purchase of 18,300 BTC for $1.1 billion between Aug. 6 and Sept. 12, reflecting the company’s ongoing strategy of expanding its Bitcoin holdings. Despite the latest Bitcoin acquisition, MicroStrategy’s stock remained relatively flat in pre-market trading on Friday, down 0.3% at $144.26. The stock is up 3.5% over the past month and has surged 108.9% year-to-date. Since its initial Bitcoin investment, MicroStrategy has significantly outperformed the S&P 500 index, with its stock price rising by more than 1,000%, far exceeding the returns of the broader market. In its Q2 earnings call, MicroStrategy posted losses of $5.74 per share on a quarterly revenue of $111.4 million, a 7% decline year-over-year. Meanwhile, the world’s largest corporate Bitcoin holder, revealed a net loss of $123 million in Q2, a slight improvement from its net loss of $137 million in the same quarter of 2023. The frim shared that its total holdings of 226,500 Bitcoin had been acquired for $8.5 billion at an average price of $36,821 per Bitcoin. MicroStrategy also unveiled a new key performance indicator called “Bitcoin Yield,” representing the percentage change over time in the ratio between the firm’s Bitcoin holdings and its diluted outstanding shares. Diluted shares outstanding include all of the company’s common stocks and any additional shares created from convertible notes or exercising stock options.

Octa, an international broker in the market since 2011, was recognised as the most reliable Forex broker of 2024 by the prestigious ‘Global Forex Awards 2024’ in the ‘Global’ category. On 12 September this year, Octa was selected by Global Forex Awards as the most reliable Forex broker worldwide. It achieved this result by adhering to the highest standards of funds security, payment stability, client verification, and preventing chart malpractices.  Throughout its six-year history, the ‘Global Forex Awards – Retail’ has celebrated the top businesses that are pushing the boundaries of innovation in retail Forex trading. As such, these awards have become a mark of recognition in the trading world. ‘For six years we have led the way in highlighting those Forex brokers that are making the greatest strides across the world, both in technology and customer service,’ explained Mike Boydell, Director of Holiston Media, the company behind the prize. He added that this year has been the biggest ‘Global Forex Awards – Retail’ to date. Octa is very proud to receive this token of recognition for its continuous efforts to ensure the safest and most transparent practices in retail Forex trading. The broker will continue with its unflagging ambition to provide the highest quality standards across its products and services. Octa is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and a variety of services used by clients from 180 countries who have opened more than 52 million trading accounts. To help its clients reach their investment goals, Octa offers free educational webinars, articles, and analytical tools.  The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities. Since its foundation, Octa has won more than 70 awards, including the ‘Best Forex Broker 2023’ award from AllForexRating and the ‘Best Mobile Trading Platform 2024’ award from Global Brand Magazine. 

One of the first decisions new cryptocurrency miners need to make is whether to mine solo or join a pool. While there are plenty of reasons for and against both, there are other options out there too, including hashrate marketplaces. Bitcoin mining income is highly unpredictable, fluctuating based on luck, payment terms, distribution schedules, and difficulty adjustments. Every 10 minutes, miners race to find the right hash, add the next block to the blockchain, and earn the rewards. To boost their odds, they keep adding more computing power, or hashrate, to their setup. The higher the hashrate, the better their odds of being the first to solve the block. As it stands, efficiency is crucial to the crypto mining industry due to tight profit margins and the need for the most computing power possible. Miners often rely on traditional mining pools, which allow them to combine their hashing power for more frequent rewards than solo mining.  One alternative is selling hashing power. Hashing power, or the computational power of hardware like ASICs used to solve cryptocurrency algorithms, can be sold on a marketplace. Here, miner profits depend on buyer demand rather than mining difficulty or coin price. Hashrate marketplaces like NiceHash thrive Hashrate marketplaces connect buyers and sellers of hashing power. Buyers can grab hashrate and direct it to a mining pool of their choice, earning cryptocurrency rewards without needing to own mining hardware. On the other hand, sellers provide the hashing power and receive real-time payments for every share they send to the buyer. This arrangement can appeal to miners because buyers typically pay in Bitcoin, transferring the risk of not mining a block to the buyer. If a buyer successfully mines a block, they receive the full reward, currently 3.125 BTC for Bitcoin.  Additionally, miners in regions with lower electricity costs—due to geographic advantages, government subsidies, or special agreements with power companies—can sell their hashrate at market prices and profit from the difference between their lower costs and the market rate. Meanwhile, hardware owners get an average payout based on all the orders in the marketplace, which cuts down the ups and downs they usually face with traditional mining pools. The volatility and uncertainty of Bitcoin mining can hinder expansion plans. By selling hashrate in short-term contracts, miners can generate the capital needed to fund business growth and development initiatives. Platforms like NiceHash let retail buyers buy hashrate and try their luck with solo mining. Buyers choose which cryptocurrency they want to mine, and NiceHash miners complete the order.  The platform works with a variety of ASIC mining rigs, like Antminer, WhatsMiner, and Avalon models, so both large and small-scale miners can easily connect and sell their hashrate on the open market. On the operational side, Hashrate reflects the total computational power directed at Proof of Work (PoW) blockchains like Bitcoin. It is measured in hashes per second (H/s) and shows how many hash computations the entire network performs at any given time.  But hashrate isn’t just about network security; it’s also a tradable commodity, much like digital or physical assets.  That said, there are different approaches to trading hashrate, such as futures markets that allow miners to mitigate potential losses by hedging against price declines. However, when it comes to trading the actual computational power used to secure Bitcoin’s PoW network, NiceHash stands out as the primary platform.  Since its launch in 2014, NiceHash has been known for its two-sided spot market that connects buyers and sellers of hashpower. NiceHash also provides a level of anonymity that may appeal to miners concerned about regulatory changes. The platform does not require Know Your Customer (KYC) verification, allowing miners to receive payouts directly to their Bitcoin wallets without sharing personal information. Bitcoin mining pool When deciding whether to join a Bitcoin mining pool, think of it as joining a lottery syndicate—the pros and cons are pretty similar. Mining solo means you keep the entire reward if you win, but your chances of winning are much lower. On the other hand, a mining pool like NiceHash has a much better chance of solving a block and earning the reward, but that reward is shared among all the members. Another thing to consider with solo mining is the difficulty level, which is currently so high that it’s nearly impossible for solo miners to turn a profit—unless you have a garage full of ASICs in Arctic-like conditions.  For beginners, joining a Bitcoin mining pool is a great way to earn smaller rewards more consistently. Pools help keep small-scale miners engaged and active in the mining community. Summing up, miners have several ways to earn crypto with their hardware. Selling hashrate instead of using it directly is often one of the more profitable options. NiceHash data shows that selling hashrate on their platform has given miners more earnings compared to mining Bitcoin directly.

The internet is a vast, ever-expanding digital realm of possibilities and potential. But in the same way that it presents practically endless capabilities at your fingertips, so does it present endless capabilities to hackers, thieves, and those wishing to do you and others harm.  The result is that the internet is populated by people preying on innocent people daily, violating financial security and privacy policies to mine valuable information. Fortunately, an ad blocker can enhance financial security and efficiency by reducing exposure to fraudulent ads and protecting sensitive financial data. Understanding how ad blockers contribute to safer online financial transactions and streamlined browsing can help users make informed decisions to safeguard their finances. Protecting Against Financial Fraud Ad blockers can help shield users from deceptive ads and phishing schemes that target financial information by simply never allowing the initial would-be-deceptive ad to pop up on your user interface. By eliminating the thief’s initial baited hook attempting to lure you in, these ad blockers remove the chance of you accidentally clicking on the ad or luring you in. Blocking ads is just a much safer and more sure-fire method of reducing the risk of encountering scams and fraudulent websites that attempt to steal personal or financial data in the first place. Ad blockers apply in the same sense as protection on a macro scale: it’s better to have it and not need it than not have it. Enhancing Privacy for Financial Transactions Ad blockers also preserve a greater sense of privacy, which is especially valuable in the modern age of surveillance and voyeurism in online spaces. It makes the surfing experience enjoyable too. Even with some sites blocking users who use ad blockers, most users simply know to avoid those webpages. These ad blockers fortify your internet usage on these sites and beyond by preventing tracking scripts and third-party cookies that collect data during online financial transactions. You always want privacy regarding online dealings, just as in real life. Still, the importance of privacy when handling sensitive financial information must be balanced. Ad blockers contribute to a safer online environment, where you can rest easier knowing that your vital personal information is not readily available to onlookers. Reducing Distractions, Improving Efficiency, and Preventing Costs In addition to the genuine security features of ad blockers, they make the online experience much more accessible, enjoyable, and efficient. Ad blockers serve to streamline the online banking and investment experience by eliminating distracting ads and pop-ups. Simultaneously, ad blockers can help protect businesses from click fraud by blocking malicious or automated ad clicks.  The financial impact of click fraud can devastate an individual or a business, resulting in successful phishing schemes and time-consuming (and often costly) efforts to rectify the situation. Ad blockers can mitigate these costs substantially.  Balancing Ad Blocking With Financial Support Why are there even ads online? Well, many websites rely on ad-generated revenue to keep the lights on. This is why so many once prestigious outlets have become overrun with advertisements in the past few years, as the financial hardships of running an online outlet have become increasingly strenuous.  This raises questions about the ethical considerations of ad blocking, such as how you can still support websites and services that rely on ad revenue while protecting your financial security. You have many options, such as whitelisting trusted financial sites or contributing to services that offer valuable financial tools and resources. The Impact of Ad Blockers Ad blockers significantly impact your internet usage’s financial security and efficiency, allowing you to make more informed decisions and protect your personal and financial information online. From their role in protecting against online fraud to enhancing privacy to ultimately improving the efficiency of managing financial tasks online, ad blockers are crucial in helping people navigate this modern online world.

Since the first days of Artificial Intelligence’s rapid expansion into various industries, the financial sector has been one of the leading adopters of these technologies. In this field, AI-driven algorithms are seeing an ever-widening variety of applications, including risk management, predictive analytics, and customer service automation. For example, according to recent research, algorithmic trading in the U.S. stock market constitutes 60–75% of total trading volume. That shows that AI-based tools have already established themselves as a crucial element of modern trading and investing platforms.   In this article, the experts at Octa, a globally recognised financial broker, summarise the current market landscape for AI-based trading tools. Building on that, they present the results of a traders’ survey showcasing the importance of generating lessons learned from one’s trading sessions and look at OctaVision, a new AI-based alternative to traditional analysis methods.      As governments and businesses exponentially increase their spending on AI research and adoption, AI-based solutions rise in popularity worldwide. However, the optimal practices and approaches to using AI-based technologies are yet to be decided, as AI adoption shows varying scale and efficiency in different sectors.  Applications of AI in trading In trading, a field where AI-based technologies are becoming increasingly popular, prediction and analysis go hand in hand. For many retail traders, assessing their previous orders is one of the main prerequisites for improving their decision-making skills.  According to Kar Yong Ang, a financial market analyst for an international broker Octa, AI has already gained a solid foothold in trading: deep learning frameworks generate market signals, dedicated bots allow traders to automate order execution, and AI-based solutions support them in developing and backtesting their trading strategies. ‘Even though various AI- and ML-based tools are already used for trading on financial markets, the broader adoption of these technologies in trading is yet to come as many traders prefer to fall back on less advanced approaches, missing out on this opportunity’, Kar Yong Ang said. Assessing one’s trades: a way to improve your trading results  Octa has conducted research to gauge traders’ attitudes towards reviewing their trades. Out of 821 respondents, 85% marked this self-assessment as necessary, while 70% already practise it regularly.  One out of three survey participants said they analysed their past trades using third-party services instead of within the trading platform. More than half don’t use any dedicated analytical tools at all, making do with manual research. Only a few traders are lucky enough to have a trusted mentor who can break down their sessions and provide constructive, impartial feedback, allowing them to improve by not repeating the same mistakes.  To address this pressing issue, Octa recently launched a new feature built into its proprietary trading platform, OctaTrader. From now on, OctaTrader clients can analyse their order history with OctaVision. This embedded AI-based toolkit offers personalised recommendations and allows traders to level up their decision-making skills with each session.   OctaVision: an AI-based recommendation engine as a mentor Created as a balanced combination of human expertise and AI’s data-processing prowess, OctaVision allows you to analyse an individual closed order or a whole trading session in bulk. While OctaVision uses a built-in AI engine to create data-driven unbiased recommendations, it is also anchored in extensive market knowledge of Octa’s expert traders who oversaw the development and content creation process, double-checking each outcome against their hands-on experience. As a detailed and personalised source of trading feedback, OctaVision is indispensable as an objective, impersonal mentor who helps you hone your trading skills step by step. OctaVision uses plain language to point out strengths and weaknesses in your decisions, substantiating the assessment with your statistics while providing personalised, actionable advice.  OctaVision has already been deployed for all of OctaTrader’s clients in all regions. The toolkit generates recommendations in English and is currently available for the trading platform’s desktop version. Conclusion  OctaTrader currently offers two proprietary embedded toolkits that empower traders and help them achieve consistent results. While an analytical hub called Space provides timely market insights and serves as a decision-making support mechanism, the recently introduced OctaVision plays the role of an AI-powered digital mentor, boosting traders’ ability to analyse their past trades and delivering the lessons learned in a concise, result-oriented manner. About Octa Octa is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and a variety of services used by clients from 180 countries who have opened more than 52 million trading accounts. To help its clients reach their investment goals, Octa offers free educational webinars, articles, and analytical tools.  The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities. Since its foundation, Octa has won more than 70 awards, including the ‘Best Forex Broker 2023’ award from AllForexRating and the ‘Best Mobile Trading Platform 2024’ award from Global Brand Magazine.

Business owners across the United States face many challenges when it comes to tax planning, especially when trying to balance legal compliance with long-term financial success. In the ever-evolving landscape of tax laws and regulations, the Restricted Property Trust (RPT) has emerged as one of the most trusted and reliable strategies for reducing taxable income. With over 20 years of proven results, the RPT continues to deliver significant tax savings while offering business owners the peace of mind that comes with compliance and legal standing. The Restricted Property Trust: An Overview At its core, the RPT allows business owners to reduce their taxable income by up to 70% of their total contributions. This sizable reduction can free up resources that can be reinvested into the business or used to support other financial goals, such as retirement or buy-sell planning. With more than two decades of successful implementation, the RPT has helped countless business owners across the country achieve their financial objectives while staying compliant with federal tax regulations. Dispelling the Myths: No Longer a “Gray Area” Despite its longstanding track record of success, the RPT has faced its share of critics. For years, some financial advisors and tax professionals argued that the RPT existed in a legal “gray area,” making it a risky proposition for business owners. However, this view has been thoroughly debunked. After dozens of IRS audits, appeals, and even federal court cases, the RPT has emerged as a fully legal and allowable deduction. Business owners who implement the RPT can now do so with complete confidence that they are utilizing a proven tax strategy. Proven Through Legal Scrutiny The RPT has survived extensive scrutiny from the IRS and the federal court system. After facing dozens of audits and multiple appeals, the RPT has proven its worth as a legally sound tax strategy. In every case, the RPT has withstood the challenges brought against it, affirming its place as one of the most reliable and compliant tax deferral options available to business owners. Not a Listed Transaction One of the biggest misconceptions surrounding the RPT was its potential inclusion as a listed transaction under IRS Notice 2007-83, which targeted certain tax avoidance schemes. However, this concern has been laid to rest. The notice has been vacated, and the tax consequences associated with the RPT have been shown to differ significantly from those outlined in the notice. As a result, business owners can implement the RPT without fear of IRS penalties or legal challenges. Conservative and Reliable What sets the RPT apart from other tax deferral strategies is its conservative approach. While other high-risk plans may offer the potential for short-term gains, they often come with significant legal risks and the potential for penalties. The RPT, on the other hand, offers a conservative, legally sound way to reduce taxable income. For business owners seeking a long-term tax strategy that prioritizes compliance and stability, the RPT is the ideal solution. Flexibility for Businesses Another key benefit of the RPT is its flexibility. It can be set up alongside other corporate benefit plans, including qualified plans like 401(k)s and pensions, without interfering with the amount a business owner can contribute to these plans. This makes the RPT an ideal choice for business owners looking to optimize their tax strategies while still taking full advantage of other financial planning tools. Ideal for Buy-Sell Planning In addition to reducing taxable income, the RPT is a powerful tool for buy-sell planning. Business owners preparing for succession or ownership transfers can use the RPT to manage these transitions in a tax-efficient manner. By integrating the RPT into their overall financial strategy, business owners can ensure a smoother, more secure transition of ownership. No Risk of Penalties One of the RPT’s most appealing features is its lack of risk. Unlike other aggressive tax deferral plans, the RPT carries no risk of penalties or fines from the IRS. It is a fully compliant, legally upheld deduction that offers business owners a secure way to reduce their tax burden without fear of legal repercussions. A History of Success For more than two decades, the RPT has delivered exactly what it promises—significant tax savings and financial benefits for business owners across the country. Despite facing legal challenges and enduring scrutiny from the IRS, the RPT continues to thrive. Business owners who implement the RPT can do so with the confidence that they are participating in a proven, time-tested tax deferral strategy that works 100% as advertised.   The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff. The information does not constitute investment or financial advice or an offer to invest.

ATFX Connect, the institutional division of ATFX Group, has been recognised for its exceptional service and innovative technology platform, earning the prestigious “Institutional Forex Broker of the Year 2024” award from Corporate Vision. This accolade reflects ATFX Connect’s client-first approach, advanced liquidity solutions, and leadership in the institutional brokerage industry.  This accolade acknowledges ATFX Connect’s contributions in the field of institutional brokerage services and affirms its continuous efforts in driving industry progress and innovation.  Corporate Vision magazine, an internationally renowned business and financial information platform, presents its annual Corporate Excellence Awards to honor companies and individuals who demonstrate excellent leadership, innovation, and performance in their respective fields. This year, ATFX Connect, earned unanimous praise from the judging panel for its professional service team, efficient trade execution system, and comprehensive solutions tailored for institutional clients.  The magazine also featured an extensive report on ATFX Connect, highlighting its customer-centric approach. The core focus is providing clients with fast and straightforward access to financial markets, along with all the necessary tools, which has always been a hallmark of the brand.  ATFX Connect continues to customise liquidity solutions based on client needs while maintaining competitive pricing. Clients benefit from competitive spreads across 65 different currency pairs and access to over 20 liquidity providers, including Tier 1 banks and non-bank liquidity. Looking ahead, ATFX Connect plans to offer services specifically tailored for professional traders.  With the establishment of its Australian office, the brand’s influence continues to grow. ATFX has laid out an ambitious development blueprint, to enhance its brand influence and leverage its unique advantages to expand into broader international markets. About ATFX ATFX is a leading global fintech broker with a local presence in 23 locations and licenses from regulatory authorities, including the UK’s FCA, Cypriot CySEC, UAE’s SCA, Australian ASIC, 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 the ATFX website: https://www.atfx.com. About ATFX Connect ATFX Connect is a trading name of AT Global Markets (UK) Limited, which is authorised and regulated by the Financial Conduct Authority. ATFX Connect’s bespoke liquidity offerings are available to institutions, hedge funds, broker-to-broker, family offices, asset managers, and High-Net-Worth Individuals. ATFX Connect supports institutional clients by providing them with direct market access to liquidity from T1 banks and non-bank providers in Spot FX, Precious Metals, and CFDs. In addition, the flexible infrastructure enables ATFX to manage aggregation and pricing and allows integration with any third-party platform. AT Global Markets (UK) Limited is part of the ATFX Group. For further information on ATFX Connect, please visit the ATFX Connect Website: https://www.atfxconnect.com

A new generation of trading apps has emerged in Europe, transforming the world of retail investing. These groundbreaking platforms are making financial markets more accessible to the average person while also incorporating an exciting range of improvements on traditional brokerage.  Platforms like the rising star 50K.Trade  Are transforming the investment landscape by offering user-friendly software, seamless access to global markets, and commission-free trading. Even beginners embarking on their investment journey are guaranteed a smooth and intuitive experience from their very first trades. Let’s explore some of the key trends and innovations driving this fintech revolution. Zero-Commission Trading One of the most important innovations has been the introduction of zero-commission trading. Following the trend set by Robinhood in the US, platforms like 50K.Trade and Trading 212 are providing commission-free stock trading in Europe. The model eliminates brokerage commissions, which can substantially eat into your potential profits.  Fractional Shares Fractional shares are a game-changer in opening up the markets to investors with limited funds. Platforms like 50K and Revolut allow users to buy tiny portions of expensive companies like Meta Platforms or Netflix, with prices over $500 per share. This feature democratizes investing and enables retail investors to more effectively diversify their portfolios. Thanks to fractional shares, investors can buy a piece of their favorite companies for as little as $1. Social Trading Platforms like eToro have brought social trading into the mainstream allowing users to follow and automatically copy the trades of successful investors. One of the main benefits of social trading is the opportunity for beginners to learn directly from experienced traders. By following successful traders and observing their strategies in real time, users can gain insights into market trends, risk management, and trading methods.  Competitive Interest Rates Many European trading apps not only offer commission-free trading and diverse investment options but also provide attractive interest rates on idle cash balances. A standout example is 50K, which offers up to 4.2% interest on an uninvested EUR balance outperforming most traditional savings accounts. AI-Driven Insights  Platforms like UK-based Nutmeg utilize AI-powered tools to provide personalized investment recommendations. AI helps Nutmeg enhance portfolio management by automating tasks such as rebalancing and diversifying investments. This automation ensures that portfolios stay aligned with an investor’s goals and risk tolerance, making it a more efficient and hands-off approach to wealth accumulation. Open Banking  Open banking allows secure data sharing between banks and financial service providers and removes the need for intermediaries. This connectivity removes the friction from investment account funding and withdrawals, with transfers taking place nearly instantly. Apps like Revolut and N26 have integrated open banking into their services, providing clients with a smooth link between banking and investing accounts. Cryptocurrency Integration Many European trading apps now offer cryptocurrency investing alongside traditional assets like stocks and bonds. Platforms such as Revolut and BitPanda have incorporated a range of cryptocurrencies, enabling investors to diversify their portfolios with digital assets. Apps like 50K offer leveraged trading in CFDs on cryptocurrencies. When trading CFDs you can take long and short positions, allowing you to potentially profit in both rising and falling markets. Gamification  Gamification within apps aims to make managing your finances and investing more engaging and fun. Leading European platforms like Revolut have successfully incorporated gamified elements like progress bars, goal setting, leaderboards, and raffles. By making the experience more enjoyable, gamification helps maintain user engagement while at the same time encouraging positive financial behaviors. Enhanced Security  European trading platforms are at the forefront of incorporating biometric authentication technologies like fingerprint recognition and facial scanning to enhance account security. Platforms such as DEGIRO and eToro have adopted these advanced measures to safeguard users’ sensitive financial information and prevent unauthorized access. Conclusion Innovations in European trading apps have leveled the playing field by making markets more accessible, efficient, and user-friendly. With advancements such as AI-driven insights, fractional investing, and automated portfolio management, individuals can participate in financial markets with greater ease, while features like social trading and gamification enhance learning and user engagement.   The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff. The information does not constitute investment or financial advice or an offer to invest.

Macquarie Investment Management Business Trust (MIMBT) is set to pay a total of $79.8 million to settle charges with the Securities and Exchange Commission. The registered investment adviser was charged with overvaluing approximately 4,900 largely illiquid collateralized mortgage obligations (CMOs) held in 20 advisory accounts, including 11 retail mutual funds, and for executing hundreds of cross-trades between advisory clients that favored certain clients over others. Eric I. Bustillo, Director of the SEC’s Miami Regional Office said: “It is alarming that a fiduciary took advantage of retail mutual funds it advised and executed unlawful cross trades to mitigate its overvaluation of fund assets. Utilizing a third-party pricing service does not negate an investment adviser’s obligation to value assets accurately.” Macquarie overvalued assets and imposed losses on retail funds From January 2017 through April 2021, Macquarie managed the Absolute Return Mortgage-Backed Securities strategy, a fixed-income investment strategy primarily invested in mortgage-backed securities, CMOs, and treasury futures. Strategy investments included thousands of smaller-sized, “odd lot” CMO positions that traded at a discount to institutional, larger-sized positions. Macquarie valued the odd lot CMOs using prices obtained from a third-party pricing service that were intended for institutional lots only. The pricing service did not provide separate valuations for odd lots. According to the SEC, Macquarie had no reasonable basis to believe it could sell the odd lot CMOs at the pricing vendor’s valuations, and thousands of odd lot CMO positions were marked at inflated prices. This resulted in the firm overstating the performance of client accounts holding the overvalued CMOs. Macquarie then attempted to minimize losses to redeeming investors by arranging cross-trades with affiliated accounts, rather than selling the overvalued CMOs into the market, according to the SEC complaint, which points to one instance in which Macquarie executed 465 internal cross-trades between a selling account and 11 retail mutual funds above independent current market prices. These cross-trades with affiliated accounts resulted in the retail mutual funds absorbing losses that otherwise would have been borne by the selling account in a market sale. Macquarie was also found to have arranged for approximately 175 dealer-interposed cross trades in which the firm temporarily sold odd lot CMO positions to third-party broker-dealers and then repurchased those same positions for allocation to one or more affiliated client accounts, providing liquidity to redeeming investors in an otherwise illiquid market, often at above-market prices. Macquarie agreed to pay a $70 million penalty and disgorgement and prejudgment interest, totaling an additional $9.8 million. The firm will also hire a compliance consultant to conduct a comprehensive review of its policies and procedures relating to, among other things, valuation of CMOs and associated liquidity risks, and cross-trading.

A U.S. bankruptcy court has approved Terraform Labs’ plan to wind down its operations as part of the firm’s Chapter 11 bankruptcy proceedings. Judge Brendan Shannon of the U.S. Bankruptcy Court for the District of Delaware gave the green light on Sept. 19, allowing the company to proceed with its bankruptcy plan, which it had filed for in January 2024, citing estimated liabilities and assets between $100 million and $500 million. Judge Shannon described the plan as a “welcome alternative” to prolonged litigation aimed at addressing investor losses. Terraform’s bankruptcy came in the wake of the U.S. Securities and Exchange Commission (SEC) filing a lawsuit against the firm and its founder, Do Kwon, in February 2023. Terraform Labs was one of the first major crypto platforms to fail in 2022, following the collapse of its algorithmic stablecoin, UST. The instability of UST and claims made by Terraform’s founders about the blockchain’s potential use cases were cited as key factors in its downfall. The company’s collapse was followed by other crypto firms such as BlockFi, FTX, and Celsius filing for bankruptcy later in the same year. In April 2024, a judge ruled that Terraform and Kwon were liable for defrauding investors and ordered them to pay roughly $4.5 billion in fines and penalties to the SEC. During the bankruptcy hearing on Sept. 19, Terraform reportedly suggested that it could pay between $185 million and $442 million as part of the winding-down process, although it acknowledged that total losses remain “impossible to estimate.” It remains unclear whether many of Terraform’s investors will be fully compensated for their losses. Terraform’s founder Do Kwon has not attended any of the SEC or bankruptcy proceedings in person. He was arrested in Montenegro in 2023 for using falsified travel documents and served a four-month prison sentence. Kwon is currently awaiting extradition to either the United States or South Korea, where he faces potential criminal charges. His extradition case has been under review by Montenegro’s courts for months. Under the terms of the settlement with SEC, Terraform Labs  agreed to pay $4.47 billion, which includes $3.58 billion in disgorgement and a $420 million civil penalty. The agency had sought to impose a $5.3 billion penalty, its largest fine yet on a cryptocurrency project. The settlement also prohibits co-founder Do Kwon from serving as an officer or director of any public firm. On his part, Do Kwon is personally responsible for $110 million in disgorgement penalties and roughly $14.3 million in prejudgment interest, as per the settlement agreement.  

Crypto exchange Bitget has secured a multi-million dollar partnership with Spain’s premier football league, La Liga, as its official crypto partner. CEO Gracy Chen announced the news during an interview at the Token2049 conference in Singapore. The two-year deal, which covers Eastern and Southeast Asia, as well as Latin America (LATAM), may impact the renewal of Bitget’s partnership with Argentina’s World Cup-winning captain Lionel Messi, whose contract with the exchange is set to expire later this year. “We still haven’t decided” how the partnership with Messi will evolve, Chen said, but noted that the La Liga deal is “slightly cheaper” and offers “more freedom and deeper collaborations.” This new partnership enables Bitget to invite star footballers, including Kylian Mbappé, to participate in the exchange’s events. Javier Tebas, president of La Liga, added: “Over the last decade, digitalization and innovation have been among La Liga’s priorities. Last season, we made this a priority under the umbrella of our New Era, which put the emphasis on technology: we want to be pioneers and we are committed to it,” he said in the announcement. The partnership was announced the same week that Bitget, alongside Web3 investor Foresight Ventures, increased its exposure to The Open Network (TON) by $30 million through a deal with key players in the TON ecosystem. Chen also highlighted TON’s growing global reach, surpassing 45 million users worldwide. “Even with the Telegram founder being arrested in Paris, the TON foundation is not losing momentum. We are very bullish,” she added. Bitget has been scaling its global reach, recently registering as a Virtual Asset Service Provider (VASP) in Poland and securing similar approval in Lithuania. The Singaporean centralized platform, which debuted in 2018, is a diverse crypto exchange that supports spot and futures trading, copy trading, farming and staking services. Bitget also acted as Juventus official partner and official cryptocurrency exchange partner, and its first-ever sleeve partner. The cryptocurrency derivatives exchange reportedly has 1.6 million registered users in 48 countries and regions including UK, France, Italy, South Korea, Japan, and Russia.

Users of the Telegram-based cryptocurrency trading bot Banana Gun have fallen victim to a massive hack, losing roughly $1.9 million worth of digital assets. The bot, which allows users to trade on popular blockchains such as Ethereum, Solana, and Base, has been targeted by at least 11 attackers, according to onchain security firm Cyvers. Cyvers’ senior Security Operation Center lead, Hakan Unal, revealed that the attackers drained the wallets of hundreds of users, affecting at least 36 victims. “It appears that BananaGunBot wallets are being drained. Our system has detected around 11 attackers, and approximately $1.9 million has been stolen,” Unal told Cointelegraph. The Banana Gun bot hack follows a series of similar incidents in the cryptocurrency space, including the $230 million hack of Indian exchange WazirX, marking it as one of the largest crypto thefts of 2024. Nature of the attack remains unclear Despite the scale of the attack, it does not appear to be linked to a wider vulnerability in the bot’s smart contract, according to Unal. “Per our investigation so far, it doesn’t seem like a contract exploit,” he stated. Instead, the hack may have only impacted a small number of user wallets, with the pseudonymous crypto sleuth Yannick Crypto suggesting that fewer than 40 victims were affected, out of a user base of more than 10,000 and an estimated $100 million in assets under management. Designed to operate across Ethereum, Solana, and Layer 2 platforms like Base and Blast, Banana Gun claimed to provide “robust security measures” against MEV bot manipulations, which often exploit decentralized exchanges (DEXs) through front- and back-running tactics. The bot also enables flexible trading options with features such as auto-sniping, limit orders, and manual swaps. Banana Gun’s native ERC-20 token, BANANA, launched in 2023, encourages user engagement with governance and reward-sharing schemes. Currently listed as a USDT perpetual contract on Bybit, BANANA keeps a capped supply of 10 million tokens, of which 8.9 million are circulating.