Broker education is clearly shifting, and both traders and IB Partners are noticing it. To understand what’s driving this change and why it matters now we sat down with Karyna Tsyhanok, Partnership Product Lead at Versus Trade, to discuss Versus Academy, a new education platform built to bring more structure into a beginner’s first trading steps.1) Karyna, before we talk strategy, let’s start simple: what exactly is Versus Academy today, and what does it give to new traders?To be honest, Versus Academy is simply a response to what we kept seeing every day: beginners were lost in scattered tutorials, and IB Partners were trying to onboard people who had no structure at all. That’s why we built Versus Academy as a separate education brand that works alongside Versus Trade — so newcomers can learn first, calmly and without pressure, before thinking about real trading.To make the Guide genuinely useful, we focused on what new traders struggle with the most. The key blocks include:Step-by-step trade examples & common pitfallsPractical cases to check understanding of the marketChart & widgets on popular platforms like TradingViewPro tips, mistakes to avoid, and real “how-to” shortcuts from active tradersWe still cover the fundamentals — technical and fundamental analysis, money management, psychology — but only in a clean, straightforward format.And once a person goes through the material, they can practise everything on a Versus Trade Demo Account, risk-free. No deposits, no conditions — just a clear starting point.2) Why did Versus Trade decide to launch an educational platform in the first place?If we look back, Versus Academy appeared not because we planned a big educational product, but because the market kept showing us the same pattern. The trading space is full of scattered content, conflicting advice and theory-heavy academies that look good but don’t help anyone get through their first trades.So we stepped back and asked ourselves: what would actually help?We realised that the market didn’t need another polished academy full of long theory. It needed something practical, short and honest — the kind of material that actually helps you make sense of your first steps.So we built an MVP around real user questions, real mistakes, and the real gaps we saw in onboarding. And this became the role of Versus Academy: give traders clarity, give partners a useful tool, and remove the chaos from the early trading experience. Not a marketing layer — a missing one.3) Why did you choose to offer the Trading Guide for free? Many brokers sell education.For most beginners, the first steps shape everything. They determine whether trading feels clear and structured — or stressful and discouraging. Early mistakes usually happen not because someone isn’t capable, but because they simply don’t know where to start. Versus Academy was created to change that first experience.Knowledge doesn’t remove risk — trading will always involve risk — but knowledge can reduce stress, emotional pressure and impulsive behaviour. We wanted people to have a place where they can do that without deposits, commitments or pressure to trade immediately.Making the Guide free ensures exactly that: a safe, structured entry point with no deposits or commitments. And in practice, traders who learn through the Academy and practise on a Versus Trade Demo Account become more confident and stable — which also supports stronger onboarding for IB Partners.4) Let’s talk about IB partners. How does Versus Academy help them?IB Partners often bring motivated beginners, but without a foundation those traders get lost quickly. Versus Academy closes that gap. Partners get a ready, structured resource they can rely on instead of building materials themselves or explaining basics dozens of times.An educated trader understands basic market dynamics, recognises that temporary pullbacks are normal, and approaches early profitable trades with more discipline. They still make mistakes — everyone does — but they act more consciously and stay in trading longer.Many beginner questions — “How do I login in MT?”, “Where do I click to buy Gold?”, “What does this M1 mean?” — are already explained in the Guide. And partners who help beginners grow often become trusted mentors for their audience, which drives stronger loyalty and long-term cooperation.5) Who creates the educational content? How do you ensure quality?All Versus Academy content is created by people who work with markets daily — trading analysts, market researchers and our internal product team. The goal was to build something practical, not theoretical.Each module starts with simple questions:What problem does this solve? How do we show it step by step? How can a trader check their own understanding?We update the Guide regularly with new patterns, tools and examples, and we use feedback from traders and IB Partners to refine it. It’s a living product that evolves with the market.6) How does the learning flow actually work for new clients?We designed the user journey to be simple and intuitive from the very first interaction. A person leaves their email on the Versus Academy website and immediately gets access to the Trading Guide inside their Academy dashboard, along with a copy delivered straight to their inbox.At the same time, they receive temporary credentials for a Versus Trade Demo Account, which they can use to practise the steps and self-check tasks included in the Guide — all in a completely risk-free environment.This flow lets beginners learn first, practise second and move at their own pace without pressure. It also helps IB Partners offer a cleaner onboarding experience: people start with education, get hands-on practice and only explore the broader Versus Trade ecosystem when they feel ready.7) How do you see Versus Academy evolving next, and where does it fit into Versus Trade’s long-term vision?Versus Academy will evolve together with the people who use it. We’re adding more practical formats — short videos, self-check tools, scenario-based cases — and expanding localisation to support IB Partners in their key regions. The goal is to keep everything useful, simple and actionable.In terms of the bigger vision, Academy has become a core part of how Versus Trade approaches trader development. We’ve strengthened our IB and MIB programs, expanded copy trading, and focused on building a full ecosystem where a trader can learn, practise on a Versus Trade Demo Account and later explore MT5 or Versus Pairs with confidence.For traders, it’s structure. For IBs, it’s better retention and easier onboarding. For us, it’s a long-term commitment to a more transparent, supportive trading environment.To finalize:What we’re building with Versus Academy is the foundation of how we want traders and IB Partners to grow inside the Versus Trade environment. Trading will always involve risk, and we can’t remove that. But we can remove the noise, give people structure, and build an environment where growth feels natural, not forced.If we do that well, we create a space where traders learn with confidence and IB Partners work with far stronger, more stable audiences. For us, that’s what a sustainable ecosystem really means.Versus Academy is an educational platform and does not provide trading, investment, or financial services. All content is for educational purposes only.Versus Academy is a partner of Versus Trade, a licensed international broker. The materials provided here do not constitute financial advice or an invitation to trade.Risk Disclaimer: Trading financial instruments involves significant risk of loss. Always ensure you understand the risks and seek professional advice before making any trading decisions. This article was written by FM Contributors at www.financemagnates.com.

France’s financial regulator, the Autorité des Marchés Financiers, has updated its policy on complex financial products to reflect the rise of crypto-assets and the implementation of the European Markets in Crypto-Assets regulation. The regulator is now clarifying these rules to accommodate crypto-asset-linked exchange traded notes under certain conditions.In a related move, the AMF approved rules for LISE, the country’s first blockchain-based stock exchange. The platform allows direct retail trading of tokenized shares for small and mid-sized companies under the EU Pilot Regime. Investors can trade without brokers using digital wallets, and access requires a knowledge test. LISE targets companies with a market capitalisation under €500 million and a total market cap limit of €6 billion, providing an alternative to traditional exchanges such as Euronext.MiCA Provides Regulatory FrameworkMiCA provides a coordinated framework for crypto-asset service providers and imposes transparency obligations on issuers. The AMF said it adapted its policy to address structured products linked to crypto-assets, noting that certain crypto-assets, if they meet predefined conditions, “are no longer unusual for retail clients.” The regulator said the changes aim to reflect new market practices while continuing to protect retail investors.AMF Seeks Investor ProtectionThe AMF’s policy on complex products is designed to reduce information asymmetry between retail investors and product issuers. Previously, the regulator set out criteria to assess whether financial instruments carry risks that retail clients may not understand. Products failing these criteria were required to carry a warning stating: “the AMF considers that this product is too complex to be marketed to retail investors and has therefore not reviewed its marketing materials.”Four Conditions Apply to Crypto-ETNsThe regulator requires four cumulative conditions for crypto-ETNs. The underlying crypto-assets must have a market capitalisation of at least €10 billion, a 30-day average daily trading volume of at least €50 million, and be tradable on a MiCA-authorised platform. Products must have no leverage or discretionary component. Exposure must be through direct holding, regulated securities, or regulated instruments, and custody must be with a MiCA-authorised service provider.Policy Review Scheduled for 2027The AMF emphasised that crypto-asset-linked debt securities remain complex financial instruments and fall under the Markets in Financial Instruments Regulation. Providers must ensure suitability for retail clients and define a target market. Prospectus approval may be required above certain thresholds. The regulator also warned that “crypto-assets can be subject to sharp price fluctuations” and said it plans to review the policy adaptation in the first half of 2027. This article was written by Tareq Sikder at www.financemagnates.com.

Britain's Financial Conduct Authority (FCA) rolled out near-final rules for a new "targeted support" framework that could reach 18 million people over the next decade, addressing what regulators call a persistent gap in financial guidance for pensions and investments.The regulatory overhaul, finalized today (Thursday), allows financial firms to make specific product recommendations to groups of consumers sharing common characteristics, and without conducting the comprehensive individual assessments required for full financial advice. Millions Missing Investment Opportunities in The UKAround 7 million UK adults hold at least 10,000 pounds in cash savings but aren't investing, potentially missing out on better returns, according to FCA data cited in the announcement. The problem runs deeper: fewer than one in 10 people obtain regulated financial advice, while nearly one in five investors turn to social media for investment decisions."Targeted support will be gamechanging," said Sarah Pritchard, the FCA's deputy chief executive. "It means millions of people can get extra help to make better financial decisions."The regulatory shift comes as UK households lag behind their European and American counterparts in retail investment participation. Between 2021 and 2023, British households allocated just 19% of their financial assets to retail investments like funds and shares, compared with 38% in the EU and 56% in the US, according to data from New Financial cited in the policy statement.This is another step aimed at supporting investment in the UK, coming just a day after the FCA on Wednesday introduced a consumer tool designed to help people determine whether a firm is operating legally and is safe to use, following a surge in investment scams that affected 800,000 Britons.How The Framework OperatesThe system works by allowing firms to pre-define consumer segments based on shared financial needs and common characteristics, then match customers to ready-made suggestions. Unlike traditional advice, firms won't need to conduct detailed personal assessments of each customer's full financial circumstances.Firms must clearly communicate that recommendations are designed for groups, not individuals, and disclose any limitations on the products they've considered - such as only offering their own products. The FCA received 116 responses to its first consultation and 20 to a follow-up, with most stakeholders supporting the approach.The regulator made several refinements based on feedback. Firms can now direct consumers to whole-of-market annuity brokerages after providing retirement recommendations, though they cannot suggest specific annuity products. The FCA expects firms to start applying for permission to offer these services in March 2026, with the regime going live the following month pending government legislation.Strict Product Limitations ApplyThe framework includes guardrails. Firms cannot use targeted support to recommend pension consolidation or suggest specific annuities, which the FCA views as too personalized for group-based recommendations. High-risk products subject to marketing restrictions - like non-mass market investments (including CFDs) - are also excluded.However, firms that provide Britons with access to stocks and shares ISAs – such as eToro and XTB – stand to benefit from this as well.A ban on commissions applies, though an exception allows payments from annuity brokerages when firms refer customers to these services. Firms can charge for targeted support or offer it free, potentially funding the service through cross-subsidization from other business lines.The Consumer Duty - the FCA's outcomes-focused regulatory framework implemented in 2023 - underpins the entire regime. Firms must demonstrate their services deliver fair value and good outcomes for customers. This article was written by Damian Chmiel at www.financemagnates.com.

XRP has traded sideways near $2 throughout late 2025, struggling to reclaim its July highs of $3.65. This consolidation follows a year of regulatory breakthroughs and disappointing price action, leaving investors wondering: Will XRP go up? In this article, I examine XRP's current chart setup, breaking developments that could influence its trajectory, and expert forecasts exploring whether XRP can reach $10 in the coming years.XRP Price Trades in Consolidation - Why Is XRP Going Up and Down?XRP's price has experienced notable volatility throughout 2025. After surging to $3.65 in July - just shy of its all-time high of $3.84 from January 2018 - the asset entered a prolonged correction, dropping below $2 in late November before stabilizing around $2.00 as of December 11, 2025.The sideways movement reflects investor uncertainty despite positive regulatory developments. Ripple's $125 million SEC settlement initially sparked a broader rally. However, enthusiasm faded as broader crypto market weakness and macroeconomic concerns weighed on sentiment.Recent weeks have seen XRP bounce from the psychological $2 support level multiple times. The cryptocurrency has formed a tight consolidation pattern between $2.00 and $2.20, suggesting a major directional move could be approaching. Today, Thursday, December 11, 2025, XRP is trading at approximately $2, hovering near critical technical levels.Will XRP Go Up? 3 Catalysts for XRP's GrowthRegulatory ResolutionRipple's complete victory over the SEC - with the settlement finalized in May 2025 and the agency dropping its appeal - removed the primary regulatory overhang that suppressed XRP for years. The XRP ETF approvals in September 2025 by Grayscale and Bitwise marked another milestone, attracting over $300 million in institutional inflows with projections of $5-7 billion by 2026.Institutional Adoption AcceleratesRipple has dramatically expanded its global footprint in late 2025. The partnership with RedotPay in December brought XRP payments to Nigeria, Africa's largest crypto market, enabling instant cryptocurrency-to-naira conversions. Earlier partnerships with SBI Holdings introduced plans to launch Ripple's RLUSD stablecoin in Japan by 2026, while Dubai Land Department adopted XRP Ledger for real estate tokenization.Monetary Policy Tailwinds"Any monetary policy loosening is welcome news for supplying hot money inflows into cryptocurrency markets,” said Paul Howard, Director at Wincent. “The Fed resuming T-bills hints at a more longer term approach to stimulate economic activity. The regulatory changes of 2025 coupled with loosening monetary policy set a good foundation for the ongoing development of the crypto asset class.”XRP Technical AnalysisAlthough XRP currently sits far from this year's highs near $3.65 from July, and a downward trend dominates with price moving below the 200 EMA, the psychological $2 level continues providing strong support. If XRP manages to break out of the current bearish regression channel and overcome the moving average grid, it would open the path to retest the $3.40 level (January 2025 highs) and the mentioned $3.65 peak.What could happen next? Based on my technical analysis using Fibonacci extensions, prices could potentially jump above $5 (161.8% Fibonacci extension level).As it turns out, some analysts and major banks hold even more bullish views.You may also like my previous analyses:Expert Prediction: Can XRP Reach $10?Standard Chartered's Geoffrey Kendrick, Global Head of Digital Assets Research, projects XRP reaching $12.50 by 2028. This forecast represents a 400% increase from current levels and would elevate XRP's market capitalization substantially. Kendrick's analysis suggests XRP could potentially overtake Ethereum's market cap, becoming the second-largest non-stablecoin cryptocurrency behind Bitcoin.Long-term forecasts show growing consensus around double-digit targets. Ryan Lee from Bitget Research predicts XRP could hit $10 by 2030, driven by adoption of Ripple's RLUSD stablecoin and potential Ripple Labs IPO developments. Lee emphasizes that short-term price targets range from $2.00-$2.17 on the downside to $2.65-$3.00 on the upside, with $2.50 remaining a pivotal breakout level.CoinPedia's projections align closely with Standard Chartered, forecasting $8.60 by 2026 and focusing on RippleNet's expanding footprint in banking, particularly across Asia and Latin America. XRP News, FAQHow high can XRP realistically go?Determining how high XRP can realistically climb depends on regulatory developments, institutional adoption rates, and broader market conditions. As of December 11, 2025, XRP trades at approximately $2 with a market cap hovering around $120 billion. Standard Chartered's Geoffrey Kendrick suggests XRP could reach $12.50 by 2028, driven by its utility in cross-border payments where it processes transactions in seconds for minimal cost.Can XRP reach $10 in 2025?No. The possibility of XRP reaching $10 before year-end 2025 - less than three weeks from December 11, 2025 - appears virtually impossible. Starting at $2, XRP would require a 390% surge in under 20 days, pushing its market cap from approximately $120 billion to over $580 billion. For context, XRP's highest level in 2025 was $3.65 in July, suggesting the infrastructure and demand for $10 simply doesn't exist on such a compressed timeline.Will XRP ever reach $50?At $2 today, hitting $50 would demand a 2,350% increase, pushing its market cap to approximately $2.9 trillion - a figure exceeding the entire crypto market's peak of $3 trillion in 2021. This isn't impossible in the long term - perhaps within 10-15 years - if Ripple's vision of XRP as the backbone for global payment infrastructure materializes. Standard Chartered's $12.50 forecast by 2028 implies $50 could represent a subsequent multi-year target, contingent on widespread bank adoption and technological upgrades to the XRP Ledger.Can XRP hit $10?Yes. XRP reaching $10 appears achievable within a 3-5 year timeframe based on current analyst consensus. This would require a 390% increase from the current price of $2, lifting its market cap to approximately $580 billion. Standard Chartered projects $10.40 for 2027 and $12.50 by 2028, while Ryan Lee from Bitget Research forecasts $10 by 2030. XRP's all-time high of $3.84 demonstrates it can approach mid-single-digit levels during strong bull markets, making $10 realistic if institutional adoption accelerates and crypto markets enter another major expansion cycle. This article was written by Damian Chmiel at www.financemagnates.com.

After five years seeking a Commodity Futures Trading Commission (CFTC) license, Gemini can now compete directly with established rivals Kalshi and Polymarket. Gemini first applied for a Designated Contract Market (DCM) license in March 2020, though the regulator approved it only in December 2025. Gemini’s leadership framed the approval as a benefit of a more supportive political environment. “We thank President Trump for ending the Biden Administration’s War on Crypto,” CEO Tyler Winklevoss said in a pointed statement. “It’s incredibly refreshing to have a President and a financial regulator who are pro-crypto, pro-innovation, and pro-America.” Gemini’s stock (NASDAQ: GEMI), publicly listed since September 2025, rose 13.7% after-hours as investors weighed the impact of a well-capitalized exchange entering a key crypto sector.The CFTC has not commented on any political factors surrounding the approval. What Is Known About Gemini’s Prediction Markets The new license allows Gemini Titan – a wholly owned subsidiary of Gemini Space Station – to offer prediction markets to U.S. customers. Initially, the company plans to launch simple yes-or-no event contracts, directly competing with Kalshi's and Polymarket's flagship products. The new trading contracts will be available “soon” on Gemini’s web interface, with mobile trading to follow. U.S. customers of the cryptocurrency exchange will be able to trade them from their USD accounts. Gemini signaled that prediction markets are just the first step in a broader derivatives strategy. The firm outlined plans to expand into crypto futures, options, and perpetual contracts. “Prediction markets have the potential to be as big or bigger than traditional capital markets,” said Cameron Winklevoss, Gemini’s president. What It Means for the U.S. Prediction Markets Gemini’s approval immediately shifts the U.S. prediction market landscape from a stable two-player scene—Kalshi as the sole fully CFTC-regulated venue and Polymarket with strong on-chain growth—to a three-way contest. With a public-market footprint, strong capital base, and mainstream distribution, Gemini enters as a competitor poised to challenge both competitors. Its arrival is expected to intensify the race for liquidity, product depth, and user acquisition, prompting more aggressive platform differentiation.Kalshi CEO Tarek Mansour previously described the rivalry between Kalshi and Polymarket as the kind of “ferocious” duel that forces a young market to mature. Gemini’s entry turns a duopoly into a competitive triangle, spurring faster innovation and sharper rivalry in prediction markets. This article was written by Tanya Chepkova at www.financemagnates.com.

ATFX, a globally regulated fintech broker specialising in FX and CFDs, is proud to announce a strategic data infrastructure collaboration with KX, a leading software company specialising in time-series data management and analytics. This collaboration aims to enhance ATFX’s technology platform with faster analytics, smarter automation, and greater operational efficiency, delivering more timely insights and better decision-making across its trading operations. These operations involve managing complex data flows from numerous liquidity paroviders and prime brokers, supporting hundreds of tradable instruments, and servicing a large, active global client base.Harnessing Advanced KX technologies to Enhance ATFX’s Next-Level TradingWith the integration of KX’s technologies, ATFX will unlock significant advantages including:Real-Time Decision Support: Using kdb+, a high-performance, vector-based, time-series database optimized for ultra-low latency, real-time, streaming and historical market data, ATFX can instantly process market data streams to provide trading, risk, and operations teams with timely, actionable insights.Democratized Data Access: The KX MCP Server offers an AI-powered interface combining natural-language queries with tools to access complex structured and unstructured financial data, letting ATFX teams, including non-technical business users get accurate, real-time insights without needing to code.Enhanced Client Reporting: Powered by the KDB-X platform, a unified, high-performance data engine that integrates time-series, vector, and AI analytics, ATFX can deliver faster, more accurate reports to institutional and retail clients, boosting transparency.Scalability & Cost Efficiency: With increasing trading volumes, ATFX can scale its operations efficiently, enhancing overall performance while keeping infrastructure costs under control.AI-Powered Insights & Automation: Through integration of advanced AI and large language models, ATFX automates workflows and gets better insights, enhancing operational efficiency.Driving Innovation with Real-World ImpactThis collaboration enhances ATFX’s capabilities by enabling real-time risk modelling and scenario analysis for faster portfolio risk management. Automated, customizable dashboards streamline reporting, while AI-powered workflows boost insight generation and process efficiency. Secure, rapid access to real-time and historical data across teams improves collaboration and agility. “Our collaboration with KX demonstrates ATFX’s commitment to leveraging state-of-the-art technology to deliver real-time data excellence and superior client service,” said Jeffrey Siu, Chief Operating Officer, ATFX. “In empowering the ATFX team to make smarter, faster decisions in a dynamic market environment, this initiative directly delivers clear benefits to our clients.”Ashok Reddy, Chief Executive Officer of KX, added, “We are thrilled to collaborate with ATFX, a forward-thinking leader in online trading. Our MCP Server and KDB-X platform will enable ATFX to harness the full power of real-time market intelligence and AI, driving innovation and operational efficiency.”About ATFXATFX is a leading global fintech broker with a local presence in 24 locations and holds 9 licenses from regulatory authorities, including the UK's FCA, Australia's ASIC, Cyprus' CySEC, the UAE's SCA, Hong Kong's SFC, South Africa's FSCA, Mauritius' FSC, Seychelles' FSA, and Cambodia's SERC. With a strong commitment to customer satisfaction, innovative technology, and strict regulatory compliance, ATFX delivers exceptional trading experiences to clients worldwide.For further information on ATFX, please visit ATFX website https://www.atfx.com.About KXKX Software powers real-time, time-series, and AI-driven analytics across capital markets, aerospace & defence, and high-tech manufacturing. Built for speed, precision, and scale, the KX platform enables organizations to extract actionable insights from streaming, sensor, and historical data to support critical use cases from predictive maintenance and operational automation to real-time simulation and vertical agentic AI. Trusted globally for its proven performance and reliability, KX delivers the data infrastructure enterprises need to thrive in an AI-driven world. www.KX.com This article was written by FM Contributors at www.financemagnates.com.

The Commodity Futures Trading Commission (CFTC) named twelve exchange executives to its new CEO Innovation Council, bringing together prediction market operators like Polymarket and Kalshi with established derivatives giants like CME Group and ICE.Prediction Markets Join Derivatives Giants in CFTC's CEO ForumActing Chairman Caroline Pham announced the first group yesterday (Wednesday), focusing on exchanges as the regulator continues reviewing additional submissions. The council will discuss how derivatives markets are evolving around tokenization, crypto assets, round-the-clock trading, perpetual contracts, prediction markets and blockchain infrastructure.The participant list reads like a who's who of both traditional and emerging derivatives platforms. Shayne Coplan from Polymarket and Tarek Mansour from Kalshi will sit alongside Terry Duffy from CME Group and Jeff Sprecher from Intercontinental Exchange. Crypto exchanges got multiple seats - Kris Marszalek from Crypto.com, Arjun Sethi from Kraken, and Tyler Winklevoss from Gemini all made the cut.You can check the whole list in the official CFTC announcement."We are building on the success of the CFTC Crypto CEO Forum and the SEC-CFTC Joint Roundtable with our CFTC CEO Innovation Council, specifically focused on market structure developments in derivatives markets such as tokenization, crypto assets, 24/7 trading, perpetual contracts, prediction markets and blockchain market infrastructure," Pham said."I am grateful to the CEOs who have agreed to share their vision and experience with the Commission as we hit the ground running to prepare for the future and beyond."Prediction Markets Get Seat at TableThe inclusion of prediction market platforms signals how quickly this sector has moved from regulatory gray area to mainstream derivatives conversation. Polymarket rolled out its U.S. app after getting CFTC clearance, returning to the American market after regulators pushed it offshore in 2022 over unregistered event-based derivatives. The platform attracted funding interest valuing it up to $15 billion, with Intercontinental Exchange investing up to $2 billion at an $8 billion valuation.Kalshi has seen similar investor enthusiasm. The company secured an $11 billion valuation in a recent funding round, more than doubling from $5 billion just two months earlier. The platform competes directly with Polymarket as both race to expand regulated prediction markets.Even traditional derivatives players are entering this space. CME Group partnered with FanDuel to let sports bettors trade contracts on game outcomes, stock indexes and commodities for as little as one cent starting in December. In the meantime, Crypto.com launched entertainment prediction markets covering movies, TV shows and awards after securing full CFTC derivatives licenses for U.S. retail event contracts.Traditional Exchanges Balance Innovation PressureThe council also includes leaders from established trading venues that are adapting to competitive pressure from upstarts. Craig Donohue from Cboe Global Markets, Adena Friedman from Nasdaq, and David Schwimmer from London Stock Exchange Group represent exchanges that have spent decades building derivatives infrastructure but now face questions about 24/7 trading and tokenized assets.Tom Farley from Bullish and Luke Hoersten from Bitnomial round out the group, adding perspectives from crypto-native trading platforms that built their technology stacks around blockchain from day one.The CFTC has accelerated work on derivatives modernization since Pham took the acting chairman role. The regulator launched a "Crypto Sprint" running through August 2026 to implement recommendations from the President's Working Group on Digital Asset Markets. That initiative covers listed spot crypto trading, tokenized collateral, stablecoins, and rulemaking to enable blockchain technology in market infrastructure.“The public has spoken: tokenized markets are here, and they are the future,” Caroline Pham, acting chairman of the CFTC, said during a keynote address at the Futures Industry Association's annual conference in Chicago.The council will hold public discussions, though the CFTC hasn't released final details on timing or format. Pham said the regulator continues reviewing submissions and may announce additional participants beyond this initial exchange-focused group. This article was written by Damian Chmiel at www.financemagnates.com.

CentFX (https://centfx.com/), a fast-growing provider of digital trading and financial technology solutions, is pleased to announce its participation in the upcoming iFX Expo, taking place on February 11–12, 2026, in Dubai. As a Silver-level exhibitor, CentFX will be present at Booths 26 and 27, where the company will unveil its latest advancements aimed at redefining efficiency, security, and innovation in the global trading ecosystem.The iFX Expo is one of the world’s largest B2B fintech events, bringing together industry leaders in online trading, digital assets, payments, and financial services. CentFX’s engagement in this year’s edition marks a significant step forward in expanding the company’s presence across key international markets.Introducing CentPay: A Next-Generation Payment SolutionAt the expo, CentFX will provide a first look at CentPay, the company’s upcoming payment solution designed to deliver secure, fast, and seamless transactions for traders, brokers, and financial institutions.CentPay aims to streamline the funding process, enhance cross-border payment capabilities, and support the growing demand for reliable digital payment infrastructure within the fintech sector.Highlighting the Cent Token: Strengthening the CentFX EcosystemCentFX will also unveil key insights into the development of the Cent Token, a forthcoming digital asset designed to reinforce the company’s ecosystem. The Cent Token will support a range of utilities including enhanced platform rewards, ecosystem participation, and new layers of value for CentFX users.The introduction of the token forms part of CentFX’s broader strategy to integrate blockchain-based solutions that elevate transparency, user engagement, and operational efficiency.A Milestone in CentFX’s Global Expansion StrategyParticipation in the iFX Expo aligns with CentFX’s ongoing mission to scale its international footprint and deliver sophisticated fintech solutions tailored to the evolving needs of global markets.CentFX invites all expo attendees, industry stakeholders, and media representatives to visit Booths 26 and 27 to explore the company’s offerings and meet with its leadership team.About CentFXCentFX is a technology-driven fintech provider offering innovative solutions for trading, payments, and digital asset management. With a mission to empower users through reliability, transparency, and cutting-edge technology, CentFX continues to develop platforms and services that cater to global financial markets. This article was written by FM Contributors at www.financemagnates.com.

A 26-year-old Canadian citizen faces federal charges for allegedly running a multimillion-dollar investment fraud that targeted retail investors through Discord, raising questions about how social media platforms have become hunting grounds for financial scammers.This 26-Year-Old Convinced Discord Users to Give Him $18MNathan Gauvin and three entities he controlled allegedly raised more than $18 million from investors across the United States and abroad between September 2022 and November 2024, according to a complaint filed by the Securities and Exchange Commission (SEC) in the U.S. District Court for the Eastern District of New York. Federal prosecutors in Brooklyn announced parallel criminal charges against Gauvin on December 10.The case shows how Gauvin allegedly built trust within Discord communities by positioning himself as an experienced investment professional, when he was actually a truck driver with fabricated credentials. He claimed to manage over a billion dollars through his firm Blackridge, which was actually a shell company."Gauvin exploited the trust of his online followers to perpetrate a brazen fraud," said Jaime Marinaro, Associate Director of the SEC's Fort Worth Regional Office."Investors should always verify the credentials of anyone offering investment opportunities, especially when those opportunities are promoted through social media or online communities."More than a year ago, FinanceMagnates.com reported how a once-popular gaming chat had turned into a hub for retail traders, and, along with them, for scammers.Discord Community Becomes Investor PoolGauvin started in late 2021 by joining a Discord community called Cryptonaiz, where he went by "Gray" and shared investment insights about crypto assets. He gradually built a following by providing what appeared to be objective investment advice.By early 2022, Gauvin created his own Discord community called Gray Digital, initially charging $200 per month for membership as an educational service. Members who followed him from Cryptonaiz became his target investor base.In March 2022, Gauvin launched the Gray Fund through his entity Gray Digital Capital Management USA, which he claimed was a diversified investment fund that would hold and trade debt and equity securities, derivatives, and crypto assets. He directed interested Discord members to Gray Digital's website, where they could invest by sending wire transfers, credit card payments, or stablecoins.Gauvin took no steps to verify whether investors were accredited until July 2024, when Gray Digital finally began requiring Know Your Customer verifications. He never registered any securities offering with the SEC.Chat-group scams carried out through Discord, as well as Telegram and WhatsApp, have become increasingly common. A few months ago, New Zealand’s financial markets regulator was among those warning about them.Fabricated Returns and Fake Brokerage StatementsFrom February 2023 to January 2025, Gauvin and Gray Digital claimed on their website that the Gray Fund generated monthly returns ranging from 1.14% to 21.14%, with 17 of 24 months showing double-digit returns. In a February 2025 update, they claimed the fund held over $78 million in assets with a cumulative return of 4,775.88% since inception.The reality was starkly different. Trading in accounts holding Gray Fund assets generated monthly compounded returns of approximately 1.4% during the period. Gauvin allegedly doctored brokerage statements from a Connecticut-based firm to show inflated asset values, even though the accounts were held in Blackridge's name, not the Gray Fund's.In one example from January 2024, Gray Digital hired the South African affiliate of an international accounting firm to verify assets. The firm issued a report claiming Gray Digital had $37 million in assets based on a falsified brokerage statement Gauvin provided. The actual account balance was $7.5 million.Gauvin also fabricated a $5 million line of credit from Saudi National Bank in February 2023, telling his Discord community it would increase monthly growth benchmarks from 10% to "30 to 50%". He posted what appeared to be a contract document to Discord, but the SEC alleges he copied an unrelated credit agreement filed by another company and publicly available on EDGAR.In 2024 alone, proceeds for fraudsters from investment scams were estimated to exceed $12 billion, according to data from Chainalysis.Investor Withdrawals Frozen, Funds DivertedIn mid-2024, Gauvin and Gray Digital stopped honoring withdrawal requests. The company announced in July 2024 that withdrawals would only be allowed quarterly, while continuing to accept monthly deposits from new investors.Gauvin blamed "banking issues" and "malicious persons" who allegedly contacted Gray Digital's banks and exploited the monthly withdrawal structure. None of these explanations were true, according to the SEC.On October 26, 2024, Gauvin posted that Gray Digital was "temporarily pausing further communications". He never fulfilled pending withdrawal requests.Financial analysis shows Gauvin misappropriated approximately $6.3 million of investor funds from February 2023 to March 2025. He transferred over $2.8 million directly to personal accounts and used investor money to pay off personal credit cards.Spending records show approximately $250,000 on custom jewelry, more than $100,000 on luxury concierge services, approximately $180,000 on real estate expenses, and more than $250,000 on art purchases.The SEC's complaint charges Gauvin and his three entities with violating antifraud provisions of federal securities laws. It also charges Gauvin, Gray Digital, and Gray Digital Technologies with registration violations. This article was written by Damian Chmiel at www.financemagnates.com.

Jenna Wright, Managing Director, Digital Assets, LMAX Group The digital asset space, once a niche corner of finance, has rapidly evolved into a significant and increasingly sophisticated market. For professional traders and institutional brokers, understanding the various instruments available and how to engage with them safely and efficiently is paramount. This article will explore three primary trading instruments – spot crypto, perpetual futures and crypto CFDs – providing a holistic view for those looking to enter or expand their presence in digital asset trading. At LMAX Group, we recognise the growing interest and the need for clear pathways into this exciting frontier. State of play Before diving into the instruments, it's crucial to understand the current market structure. The crypto landscape is overwhelmingly dominated by derivatives trading, with perpetual futures being the single most popular and high-volume instrument. Derivatives dominance In the centralised exchange ecosystem, monthly derivatives trading volume consistently outpaces spot trading volume by a significant margin. In periods of high activity, monthly derivatives volumes can reach into the multitrillion-dollar range, while spot volumes sit lower. Within derivatives, perpetual futures are the clear leader. This year, perpetual futures volumes have reached record highs, with monthly trading volume reaching nearly $49 trillion on centralised exchanges (CEXs) as of October 2025, on track to surpass 2024. perpetual futures volume which hit $58.5t on the top 10 centralised perpetual exchanges, double its volumes of $28.0t in 2023. Bitcoin perpetual futures have been reported to have an average daily volume up to three times larger than their corresponding spot products on major centralised exchanges in recent quarters. Spot crypto trading: the foundation Spot crypto trading is a direct entry point into the digital asset market. It involves the immediate purchase or sale of cryptocurrencies, with actual ownership of the underlying asset being transferred. How it works: when you buy Bitcoin on the spot market, you own Bitcoin. For institutions, spot trading is fundamental for: Direct asset ownership: provides full control over the asset, enabling long- term holding strategies.Clear valuation: the price reflects the current market supply and demand, offering transparency.Institutional adoption: the introduction of regulated products like spot Bitcoin ETFs has amplified institutional participation in the spot market, leading to improved liquidity and tighter spreads. Considerations for institutions: while simple in concept, institutional spot trading demands robust infrastructure, deep liquidity and secure custody solutions. Firms need reliable venues that can handle large order sizes without significant price impact and provide segregated accounts for client funds. Perpetual futures: managing exposure with leverage Perpetual futures blend characteristics of traditional futures contracts with an indefinite expiry date. Their high-volume nature demonstrates their role as the primary vehicle for leveraged speculation and hedging. How it works: perpetual futures track the price of an underlying cryptocurrency but are synthetic instruments. Traders speculate on price movements. The "funding rate", a small payment exchanged between long and short positions, is key to tethering the perpetual future's price to the spot market.Leverage and capital efficiency: perpetual futures allow traders to use high leverage, a major driver of their huge trading volumes and popularity, as it enables controlling a larger position with a smaller amount of capital.Hedging: institutions use the high liquidity of perpetuals to effectively hedge existing spot positions.Sophisticated strategies: the perpetual nature and funding mechanism facilitate advanced strategies like cash-and-carry arbitrage between the spot and perpetual markets. Considerations for institutions: the use of leverage introduces higher risk, necessitating stringent risk management protocols. Institutions engaging with perpetual futures require platforms offering robust margin systems, clear funding rate mechanisms and the ability to execute large orders without significant slippage.Crypto CFDs: accessible price exposure without direct asset handling Contracts for Difference (CFDs) are another derivative instrument that allows traders to speculate on the price movements of an asset without owning the underlying asset itself. How it works: when trading a crypto CFD, you contract with a broker to exchange the difference in the price of a cryptocurrency from the time the contract is opened until it is closed. No custody burden: for many traditional institutions and brokers, CFDs are operationally appealing as they eliminate the complexity and security risk of managing crypto wallets and custody. This is a major factor in their adoption by brokerages for client offerings. Familiar framework: CFDs operate within established financial market structures, offering a familiar risk and regulatory profile for firms accustomed to traditional derivative products.Leverage: like perpetual futures, crypto CFDs often offer leverage, appealing to directional speculation strategies. Considerations for institutions: while popular, CFDs involve counterparty risk with the broker. Institutions must partner with well-regulated providers who offer transparent, reliable pricing that accurately mirrors the deep liquidity of the underlying spot market. LMAX Group: your trusted partner in digital assets We understand that professional traders and institutional brokers have diverse needs when approaching the digital asset space. We provide a secure, regulated and high- performance environment designed to support your strategy, regardless of which instrument you choose. We are currently onboarding institutional brokers to a new, fully hosted, broker- branded interface that allows clients to seamlessly deposit digital assets and use as cross-asset collateral across our ecosystem. This industry-leading solution is designed to solve existing challenges and empower brokers and financial institutions with secure, efficient, cross-asset collateral management. We bridge the world of traditional finance and digital assets, understanding the institutional demand for regulated, transparent and high-quality venues for both spot and derivatives activities. Our institutional approach ensures that you can execute your strategies efficiently, whether capitalising on derivates or the spot market. Embrace the future of finance with a partner you can trust. This article was written by FM Contributors at www.financemagnates.com.

Growing alarm about the unprecedented amounts of money being invested in artificial intelligence has sparked fears of the industry entering a “bubble,” drawing comparisons with what happened during the early 2000s. Back then, the dot-com boom captured the imagination of Wall Street, only to crash spectacularly and derail the global economy for years to come. There are a lot of parallels between what happened then and what’s taking place with AI now, but there are also many differences – and therefore many reasons to think AI might avoid repeating history. One of the biggest disparities between the rise of the internet and the rise of AI is, the two technologies have very different goals. The internet began life as an experimental communications project by the U.S. Department of Defense, but its creators soon realized its commercial potential. The goal was to transform information sharing by creating a decentralized and global network that anyone could use, and the World Wide Web was the result. In contrast, AI lacks a singular goal. It’s viewed as a versatile technology that can be applied to dozens of domains, ranging from chatbots to recommendation systems to autonomous vehicles and robots. And yet, there's no unified way to characterize exactly what AI is trying to solve in these domains. Deep Analysis founder Alan Pelz-Sharpe discussed AI’s lack of a clear-cut objective in a recent blog post, observing that it’s a proverbial solution looking for a problem. “I don’t mean AI lacks value. It can solve real challenges, but only if organizations first define what those challenges are,” he wrote. “Too often, AI is deployed reactively – thrown at symptoms rather than root causes, leading to wasted resources, disillusionment and even deeper inefficiencies.” The Argument for AI Buoyancy AI’s lack of a clear goal doesn’t bode so well for its future, but AI does have a few things going for it that the internet never did during its early days. For one thing, AI is far more accessible than the internet was back in the 1990s. Getting online during the early years required a substantial investment, such as the need to purchase an expensive computer and pay a monthly subscription fee to connect to the web. By the end of the 1990s, only one-third of people in developed countries were online, handicapping the economic potential of companies riding the dot-com boom. On the other hand, AI is far more ubiquitous. These days everyone has a smartphone, and that means anyone can access apps like ChatGPT, Gemini or Grok, and they can even be used for free, albeit with some limitations. One could argue that there’s not a person alive who has used a smartphone and has not interacted with AI at least once through that device. Another advantage AI has is that it’s being led by a very different group of companies that sit on a much stronger financial footing. During the dot-com bubble, very few of the leading companies were established enterprises. Yahoo!, Amazon, eBay and the like were all startups and most were living on borrowed capital, which led to a lot of problems when funding later dried up. Remember 360Networks? It was one of the leading fiber optic companies during the dot-com boom. Founded in 1998, it reached a market capitalization of more than $13 billion just two years later, using venture capital to build network infrastructure that spanned much of the U.S. But it was building for the future, and at the time it had very few customers – not nearly enough to survive when investors switched off the funding tap. It was much the same at companies like Pets.com and Webvan, which spent millions of dollars on advertising but couldn’t make their deliveries profitable, because they never achieved the economies of scale they imagined. Zeev Farbman, CEO of the AI video tech firm Lightricks, made it clear in an interview with CNBC that AI is a very different story. He said much of the funding stems from the free cash flow and revenues of some of the world’s richest enterprises, such as Microsoft, Google, Amazon, Meta Platforms and Oracle. These organizations all have established businesses providing vital technology and services that generate billions of dollars in revenue annually. “A lot of these companies that are at the frontier of AI are making significant revenues,” Farbman said. “So I think that's very different from the dot-com era.” Farbman pointed out that even the AI pure-plays, like OpenAI and Anthropic, have grown tremendously in the last couple of years. OpenAI’s revenue has surged from just $200 million in sales in 2023 to a projected $20 billion in annualized revenue this year, while Anthropic expects to achieve $9 billion in annualized revenue this year, up from just $87 million in early 2024. AI’s Vulnerabilities One of the biggest challenges AI faces compared to the internet is scale. In the 1990s, the internet was known for being slow, and it struggled to handle heavy traffic. Dial-up modem connections meant users might have to wait several minutes just to download an image, and streaming even a short video clip wasn’t possible. Economies of scale got us to where we are today. Connectivity became much faster with the emergence of fiber optics, high-bandwidth mobile connections and increased storage capacities, and that encouraged more investment in infrastructure, making the internet better over time. On the other hand, increased investment doesn’t have the same impact on AI. Adnan Masood, Ph.D in AI and ML, Stanford Scholar and Microsoft Regional Director, commented that the industry experiences diminishing returns on investment with large language models and may be approaching a “scaling wall.” OpenAI spent billions of dollars to train GPT-4.5, but showed only incremental improvements over GPT-4. “Frontier models from OpenAI, Anthropic, Google, and Meta show smaller performance jumps on key English benchmarks despite massive increases in training budget,” Masood said. “Meanwhile, the AI industry faces data scarcity for high-quality English text and skyrocketing compute costs, prompting exploration of new techniques to sustain progress.” A Question of ValueIt’s not easy to picture where AI will go from here. While it shows potential for greater automation in terms of content creation and industries such as finance, healthcare and others, it hasn’t yet become essential in the same way the internet is. Farbman said this is AI’s biggest challenge – it needs to discover a way to generate real-world value that people and businesses can’t live without. Doing so may require a change in the way people think about AI. Rather than focus on the strengths of the underlying models, Farbman thinks people should look at what the weaknesses of AI are. “Then you can start to create products to overcome the limitations of the tech with human interactions,” he said. “Typically, I think that’s where the value is.” AI may ultimately follow the same path as the internet. The web began as a gimmick and the dot-com boom was characterized by inflated expectations, but once the value became apparent, it became the fabric that stitched modern society together. AI feels the same – it’s fun, it has potential, but it isn’t absolutely essential. If the leaders of AI companies can learn to deliver on that potential, it will also become indispensable. This article was written by FM Contributors at www.financemagnates.com.

LMAX Group has expanded institutional access to its perpetual futures by integrating with Gold-i’s technology network. Through the collaboration, Gold-i’s clients can reportedly directly connect to trade perpetual futures on LMAX Group’s regulated platforms.The partnership addresses growing appetite for more sophisticated, transparent derivative products across the crypto sector. As regulatory clarity improves, perpetual futures are gaining legitimacy, offering investors more flexibility and leverage while maintaining institutional-grade controls.Building on a September LaunchLMAX first launched its perpetual futures offering in September, starting with BTC/USD and ETH/USD pairs, both settled in U.S. dollars. The firm plans to add more contracts as institutional participation grows. David Mercer, CEO of LMAX Group, said the expansion underscores the company’s commitment to regulated digital asset trading: “This launch enables our clients to confidently participate in digital asset derivatives and capitalize on crypto market momentum through the same trusted, regulated institutional trading infrastructure that handles over $40 billion average daily spot FX and digital assets flow.”He added that perpetual futures broadens the group’s product suite, marking another step toward building a comprehensive cross-asset marketplace.Institutional Adoption AcceleratesAccording to LMAX, institutional demand for secure and compliant access to advanced derivative products continues to increase. The perpetual futures offering, integrated with Gold-i’s technology, provides a more accessible route for firms seeking direct entry to digital asset derivatives.Jenna Wright, Managing Director for Digital Assets at LMAX Group, commented: “Launching perpetual futures is a natural extension of our commitment to providing clients with a comprehensive suite of digital asset trading solutions. The introduction of perpetuals reinforces our position as a trusted partner in the digital asset space.”LMAX Group introduced perpetual futures contracts for Bitcoin (BTC) and Ethereum (ETH) in September, offering leverage of up to 100x, as part of a broader move by established exchanges to provide institutional traders with access to high-leverage crypto derivatives.Perpetual futures, or “perps,” made up 68% of Bitcoin’s trading volume through mid-June, according to data from Kaiko. Once dominated by offshore crypto exchanges, these products are increasingly being offered on regulated platforms in key financial hubs as institutional demand accelerates. This article was written by Jared Kirui at www.financemagnates.com.

Hundreds of Bitcoin wallets tied to the defunct Silk Road darknet marketplace have suddenly reactivated, sending about $3.14 million in BTC to a newly created address in their largest move in years. Blockchain data provider Arkham reports that the transfers came from a cluster of long-dormant wallets and landed in a Bech32 address starting with “bc1q,” whose owner remains unknown.​The transfers mark a sharp break with the pattern of near-total inactivity that has defined these addresses for the past decade. Only a handful of minor “test” transactions had gone out from Silk Road-tagged wallets this year before this week’s sudden burst of on-chain activity.​Inside the $3.14M Bitcoin shiftArkham’s dashboards show that roughly 300 Silk Road-linked addresses combined their balances in a coordinated series of 100‑plus transactions. Together, they pushed around $3.14 million in Bitcoin to a single destination address, suggesting clear intent to consolidate funds rather than disperse them.​Despite the fresh movements, most of the tagged holdings remain unmoved. Arkham estimates that Silk Road-associated wallets still control roughly $38–41 million in Bitcoin, while the newly created address holds only the amount received in this latest batch of transfers.​The renewed wallet activity follows the political and legal drama around Ross Ulbricht, who created and operated Silk Road until his arrest and conviction in 2015. Ulbricht received two life sentences plus additional years for running a marketplace that enabled anonymous trade in illegal drugs and other illicit goods using Bitcoin as the medium of exchange.​Keep reading: As Trump Pardons Ulbricht, What Was Silk Road?JUST IN: Silk Road Founder Ross Ulbricht seen out of prison following pardon from President Trump. pic.twitter.com/90zsIL4Ve2— Watcher.Guru (@WatcherGuru) January 22, 2025In January 2025, President Donald Trump granted Ulbricht a full and unconditional pardon, ending his life sentence after more than a decade behind bars. The decision energized Ulbricht’s supporters and triggered renewed scrutiny of the remaining Silk Road-linked coins, some of which the US government had already seized and auctioned in earlier enforcement actions.​Billions seized, but millions unaccountedAuthorities have previously confiscated large tranches of Bitcoin tied to Silk Road, including tens of thousands of coins that later went to auction under government control. One US government-controlled wallet identified by Arkham holds tens of thousands of BTC from Silk Road seizures, underscoring the scale of the original marketplace’s crypto footprint.​Ross Ulbricht (@RealRossU) didn’t sell drugs—he built an anonymous, free, and open platform on Tor called Silk Road.Silk Road sold apparel, art, books, collectibles, computer equipment, electronics, herbs, and yeah—drugs. But according to friends who used it, Silk Road was… pic.twitter.com/iNn2iHv4TA— Ben Sigman (@bensig) January 22, 2025At current prices, those coins would be worth roughly $47 million, sitting alongside other tagged wallets that hold several million dollars more but have seen almost no recent movement apart from a few tiny test transactions. The latest $3.14 million transfer is small relative to both the historical Silk Road stash and Bitcoin’s daily trading volume, so it does not pose immediate market risk on its own. However, any sign that much larger Silk Road-linked balances might move could quickly capture trader attention, especially if on-chain data points to potential exchange deposits.​ This article was written by Jared Kirui at www.financemagnates.com.

OpenFX has moved to deepen its institutional operations by appointing Alex Rowles as its new Head of Trading and Risk, adding a seasoned markets specialist just as cross-border payments and stablecoin flows draw more regulatory and operational scrutiny.OpenFX Scales Its Multi-Region Trading Platform"What the team at OpenFX is building feels very similar—just applied to a much harder problem: cross-border payments and global FX liquidity. Proprietary market-making, real-time inventory management, and smart routing across stablecoins, FX desks, dark pools, and derivatives… all under one roof," Rowles commented on LinkedIn."It’s rare to see this level of infrastructure inside a payments company. In just 18 months, the team has already built a proprietary liquidity engine powering 11 currencies, with a roadmap to scale to 150."Rowles joins OpenFX after a seven-year spell at LMAX, where he held senior roles at the trading venue and liquidity provider. He initially served as Head of Trading before moving into a Commercial Director position for the final two years of his tenure. Rowles’ experience also includes previous roles as Societe Generale, including a stint as FX Trader. More moves: CFI Promotes Charbel Saleh to Global Head of Business OperationsOther Appointments at OpenFXBesides Alex Rowles, OpenFX also appointed Sourav Karmakar as the INR Product Lead. Karmakar previously served as Associate Vice President for Growth Product and Revenue.The other appointment saw the onboarding to Ethan Mackie to Product Operations. He previously served as Manager of the Office of the CPO at global payments firm Thredd, based in the US.OpenFX positions itself as a payment’s provider serving PSPs and remittance payment companies, with a focus on cross-border flows and integration with stablecoin infrastructure. The firm also offers on-ramp and off-ramp solutions for stablecoins, connecting fiat and digital assets for institutional and corporate clients. This article was written by Jared Kirui at www.financemagnates.com.

CFI Financial Group promoted Charbel Saleh to Global Head of Business Operations. Saleh has been serving as the Business Development Project partner since last year.Overseeing Core Business and OperationsThe appointment aims to reinforce CFI’s management structure and support its operational growth worldwide. Saleh will oversee the firm’s core business and strategic operations, focusing on efficiency, client service, and internal process alignment.CFI operates several regulated entities across key financial hubs including London, Dubai, Larnaca, Beirut, Amman, and Cairo. The broker provides access to global markets with instruments spanning equities, currencies, commodities, and indices.Saleh is an industry veteran, having joined CFI from GCC Brokers, based in Dubai. Additionally, he dedicated nearly 10 years working for FX and CFD broker amana.Experience from amana and FXCMHe joined the FX and CFD broker as Customer Support/Operations Accociate, later serving as Customer Service Supervisor, Customer Service Manager, and later as the Head of Operations. He also has experience from FXCM MENA. The company has invested in technology initiatives such as AI-driven tools and trading platforms intended to enhance operational performance and service reliability. Saleh’s new role is expected to support these efforts as CFI continues its regional and global expansion.CFI also maintains corporate and sports partnerships, including with AC Milan and FIBA WASL, alongside community programs centered on education and youth engagement. Recently, the group opened its Bahrain office and named Yaseen Alsamerrai to run the operation, adding another location to the online broker's Middle East network.The company held a ceremony in Manama to mark the launch of CFI Financial (Bahrain) B.S.C Closed, which received a Category 2 Investment Business Firm license from the Central Bank of Bahrain in July, Finance Magnates reported.Earlier, the group appointed Omar Khaled as its new Chief Marketing Officer, following his previous tenure as the company’s Global Director of Marketing, where he oversaw international marketing strategy. In his new position, Khaled leads CFI’s global marketing operations, managing brand development, digital initiatives, performance analytics, and client communications across all markets. This article was written by Jared Kirui at www.financemagnates.com.

Kyrgyzstan has officially launched USDKG, a gold-backed stablecoin pegged 1:1 to the U.S. dollar, with an initial issue of $50 million. The token is issued on Tron and fully audited by ConsenSys Diligence, with future expansion slated to include Ethereum support.The issuer, OJSC Virtual Asset Issuer, is a state-owned entity under the Ministry of Finance, operating within the legal framework established by the 2022 Law on Virtual Assets of the Kyrgyz Republic. The initiative represents a first-of-its-kind model in Central Asia, merging sovereign oversight with blockchain transparency.The launch ceremony was attended by Sadyr Japarov, President of the Kyrgyz Republic, Almaz Baketaev, Minister of Finance, and Biibolot Mamytov, CEO of Gold Dollar, the project’s operator. During the event, the dignitaries pressed a symbolic “Launch Issuance” button, officially initiating the circulation of USDKG tokens.The issuance of USDKG is carried out by a company with 100% state participation, ensuring a high level of investor trust and institutional reliability. A total of 50,000,000 USDKG tokens have been issued, each fully backed by physical gold reserves. Operational control — including gold management — is delegated to a private company registered in the Kyrgyz Republic, under a contractual agreement with the USDKG issuer.This separation of responsibilities ensures independent operational oversight and positions USDKG outside the classification of a Central Bank Digital Currency (CBDC). The company responsible for managing USDKG’s gold reserves, has outlined plans to expand the backing to $500 million in the next phase, with a long-term target of $2 billion.The stablecoin is fully compliant with FATF KYC/AML standards, and redemptions require standard identity verification. It is designed to facilitate financial inclusion.Kyrgyzstan is among the first nations in the region to establish a comprehensive digital-asset regulatory framework, setting a precedent for state-supervised virtual currencies. Government representatives emphasized that such initiatives aim to enhance economic transparency and trade efficiency, rather than serve any geopolitical agenda. Officials also noted that USDKG complements, rather than competes with, the national monetary system.The project reframes traditional narratives around state-issued and commodity-backed digital assets. Its gold collateral serves as a verifiable, inflation-resistant foundation, aligning with a growing market preference for transparent, real-asset-backed stablecoins. By combining physical reserves with on-chain verification, USDKG introduces a model of measurable stability uncommon in the current stablecoin landscape. The state-backed structure provides a clear regulatory framework built on accountability and public oversight. The Kyrgyz initiative underscores a broader trend toward responsible digital-asset innovation in emerging markets. The government’s focus on regulatory discipline, transparency, and tangible reserves signals a pragmatic approach to blockchain-based modernization.With USDKG, Kyrgyzstan positions itself as a regional first-mover in regulated asset-backed digital currencies — both bridging traditional finance and blockchain infrastructure and maintaining full sovereign oversight. This article was written by FM Contributors at www.financemagnates.com.

The U.S.-based Firstrade has rolled out a redesigned version of its browser-based trading platform, Invest 3.0. It now has a floating Quick Trade ticket, updated options chain and refreshed portfolio dashboards. With this move, the commission-free online broker aims to catch up with competitors such as Interactive Brokers and Schwab, which already offer similar options to retail traders.Firstrade Revamps Web Platform With Invest 3.0 RolloutThe new release centers on a “Quick Trade Anywhere” panel that lets users place orders from most pages across the site, including positions, watchlists, stock overview pages, research tools and the options chain. The one-click ticket is aimed at customers who want to move faster between research and execution without navigating back to a single trading screen.Firstrade has also reworked its options chain, introducing a clearer layout with support for multi-leg strategies and more prominent data displays. The firm says the updated design is meant to help retail traders read pricing and volatility data more easily while building complex trades.“Our priority at Firstrade has always been to deliver self-directed investors user-friendly features and advanced tools that elevate the entire user experience,” said John Liu, CEO of Firstrade. “Invest 3.0 brings research, analysis, trading, and portfolio management together in one integrated platform, we aim to make it easier for investors to stay informed and act with confidence.”The changes are notable, though they are not groundbreaking in an increasingly crowded and competitive retail trading industry.Dashboards Catch Up With RivalsBeyond order entry, Invest 3.0 adds sharper charts and a revamped dashboard that highlights portfolio performance and basic analytics in a single view. The platform now supports both light and dark modes, reflecting a standard feature set already common at larger US brokers.Firstrade is keeping its pricing structure in place, including zero-commission trading on stocks and ETFs and no per-contract fees on options. The company is pitching the visual and workflow changes as a way to make research, trading and account monitoring feel more integrated without altering costs for clients.The web overhaul lands after a busy stretch for the New York-based broker, which has been building out features to defend its position in a crowded US retail market. In October, Firstrade introduced 20/5 overnight trading on around 1,200 securities, extending access from 8:00 p.m. to 4:00 a.m. Eastern and adding 24-hour real-time quotes and extended support for customers trading outside regular hours.A month later, the firm launched an Options Builder tool that integrates Trading Central analytics to help retail traders design and visualize options strategies before sending them to market. The latest Invest 3.0 option chain redesign sits on top of that effort, giving Firstrade a more complete options workflow aimed at active users.Retirement And Fractional Shares In FocusOn the retirement side, Firstrade recently teamed up with Capitalize to help clients locate and transfer old 401(k) accounts, a pool often described as “orphaned” assets spread across former employers. The integration mirrors moves by other brokerages that see rollover flows as an important source of new assets.Earlier, in April 2024, the broker finally launched fractional share trading after a four-month delay, allowing customers to buy slices of higher-priced US stocks and ETFs. That brought Firstrade in line with competitors that had already used fractional trading for years to attract smaller-ticket and younger investors.The broker continues to offer no-fee IRA accounts alongside its core lineup of stocks, ETFs, options, mutual funds and fixed income products. Firstrade Securities Inc. is registered with FINRA and is a member of SIPC. This article was written by Damian Chmiel at www.financemagnates.com.

Wall Street's most optimistic Bitcoin advocates are retreating from their boldest BTC price predictions. After watching the leading cryptocurrency plunge nearly 30% from its October peak above $126,000, major financial institutions are recalibrating their expectations, though their long-term bullish thesis remains intact.Standard Chartered, long a vocal supporter of digital assets, made the most visible adjustment. The bank slashed its Bitcoin price forecast by half, now projecting $150,000 by end of 2026 instead of the previously anticipated $300,000. Even more telling, their ambitious $500,000 target has been pushed back two full years to 2030.Bernstein analysts joined the revision chorus, settling on the same $150,000 figure for late 2026, with expectations to approach $200,000 by the end of 2027. In this article, I look at what has changed, how high bitcoin could rise, and provide a price forecast for 2026.What Changed the Bitcoin Outlook?Geoffrey Kendrick, Standard Chartered's global head of digital assets research, points to a fundamental shift in Bitcoin's demand structure. Companies using Bitcoin as a treasury asset, the so-called DATs (Digital Asset Treasuries), no longer possess the valuations or incentives to continue aggressive accumulation."We think that Bitcoin buying by DATs has run its course, while we expect ETF inflows to resume periodically," Kendrick stated. "We expect a consolidation rather than outright selling."This leaves spot Bitcoin ETFs as the primary support pillar, and recent data suggests that foundation is cracking. BlackRock's IBIT fund experienced $2.3 billion in outflows last month, its largest monthly redemption and only the second monthly withdrawal this year. While this represents just 3% of total assets, the psychological impact on market sentiment has been substantial.Across all twelve spot Bitcoin ETFs, Monday saw $60 million in net outflows before Tuesday's rally pushed Bitcoin back above $94,400, its highest level in three weeks. As of today (Wednesday), 10 December 2025, Bitcoin trades at $92,257, down 0.4% in the past 24 hours.You can also check my previous Bitcoin price predictions and analyses. And if you like my work, feel free to follow me on X!BTC Technical Analysis Points Lower Before HigherMy technical analysis reveals a concerning pattern that suggests further downside before any meaningful recovery. Bitcoin has been consolidating for nearly a month below the critical resistance zone between $92,000 and $94,000, a level I've highlighted repeatedly in previous analyses.Yesterday's brief test of two-week highs was immediately rejected at this resistance, confirming its strength. The local support sits around $84,000, marking eight-month lows. From the all-time high, Bitcoin has surrendered 30% of its value.The formation of a death cross, where the 50-day exponential moving average crosses below the 200-day EMA, suggests the medium-term trend remains bearish. According to my Fibonacci analysis, the next major support zone targets $74,000, aligning with April's yearly lows. This level represents both the 61.8% Fibonacci retracement and a 100% Fibonacci extension from recent price action.I expect real accumulation and a return to upward momentum at the $74,000 level. While I don't anticipate Bitcoin reclaiming glory highs this year given limited time remaining, a calm return above $100,000 is possible. However, extended consolidation throughout next year also remains likely.Institutional Money Still Flowing Despite PullbackDespite the sharp correction, institutional commitment appears more resilient than retail sentiment. Paul Howard, Director at Wincent, notes that "Strategy has been a large buyer in the past week," making it difficult to identify the next catalyst for breaking above $100,000.Bernstein's analysis reveals that retail investors hold roughly three-quarters of spot Bitcoin ETF assets, while institutional ownership climbed from 20% at the start of 2024 to 28% currently. Analysts Gautam Chhugani, Mahika Sapra, and Sanskar Chindalia argue that outflows representing less than 5% of total assets indicate "Bitcoin is now in an elongated bull cycle with more sticky institutional buying offsetting any retail panic selling."The firm maintains an ultra-long-term target of $1 million by end of 2033, suggesting current turbulence represents a minor speed bump in Bitcoin's multi-decade trajectory.Fed Policy Remains Key DriverMarket participants are laser-focused on the Federal Reserve's December meeting. Howard expects "another 25bps cut from the Fed in December that is already priced into the market. This should help maintain majors pricing in the current $85,000-$100,000 band."However, he warns that deviations from expectations could trigger significant moves: "In the event the Fed doesn't cut rates, we can expect majors to retest lower bounds, whilst a bullish >25bp cut is likely to spook the markets."Joel Kruger, crypto strategist at LMAX, observes that "price action has remained resilient despite mixed equity performance, underscoring that recent gains have been driven less by global risk appetite and more by crypto-specific catalysts."Bitcoin Price Long-Term Projections Remain AmbitiousDespite near-term caution, my technical analysis aligns with institutional bullishness for the longer horizon. Using Fibonacci extensions to measure the April-to-October rally followed by the current correction, two major upside targets emerge:The first target sits at $132,000, representing a 100% Fibonacci extension, roughly 5% above the previous all-time high. This level could be tested in 2026 if accumulation at lower levels proves successful.The second target reaches $163,000, based on a 161.8% Fibonacci extension. This ambitious level would require sustained institutional adoption, favorable regulatory developments, and accommodative monetary policy to materialize.Standard Chartered's delayed $500,000 target for 2030 and Bernstein's $1 million projection for 2033 suggest Wall Street expects Bitcoin to continue its long-term upward trajectory despite periodic setbacks.Bitcoin Price Predictions Table 2026 and BeyondHowever, if Bitcoin fails to hold the $74,000-$76,000 support zone, the next logical target drops toward $60,000, a level that would represent a more typical 50% correction from all-time highs.Bitcoin Price Analysis, FAQWhat is the Bitcoin price prediction for 2026?Standard Chartered and Bernstein both project Bitcoin will reach $150,000 by end of 2026, down from previous forecasts of $300,000. Technical analysis suggests potential targets between $132,000 and $163,000 if accumulation occurs around $74,000 support levels.How high can Bitcoin go in the long term?Standard Chartered delays its $500,000 target to 2030, while Bernstein maintains a $1 million projection by 2033. These ultra-long-term forecasts assume continued institutional adoption, favorable regulation, and Bitcoin's evolution beyond four-year cycles.Why will Bitcoin surge from current levels?Potential catalysts include pro-crypto US regulatory changes, resumption of ETF inflows, Federal Reserve rate cuts, corporate treasury adoptions, and Bitcoin's growing treatment as a standalone asset class rather than correlated risk asset.Is Bitcoin a good investment at $92,000?Technical analysis suggests waiting for deeper correction to $74,000-$76,000 accumulation zone before major buying. Current levels represent consolidation below resistance, with 30% downside from ATH creating uncertainty about immediate direction.When will Bitcoin reach new all-time high?Analysts suggest 2026 for potential new highs above $126,000, contingent on completing current correction, establishing support, and benefiting from pro-crypto policies. Technical targets point to $132,000-$163,000 range.What is realistic Bitcoin price target for 2026?The convergence of major institutions on $150,000 represents consensus "realistic" target, reflecting 63% gain from current levels. This requires renewed institutional demand, favorable Fed policy, and successful test of support levels. This article was written by Damian Chmiel at www.financemagnates.com.

STARPrime has joined Your Bourse's ecosystem as a Premium Liquidity Provider, giving retail brokers access to aggregated liquidity alongside a bundle of execution tools designed to keep infrastructure costs contained.According to both companies, the partnership addresses a recurring challenge for smaller brokerages: balancing execution quality with the cost of connectivity, hosting, and reporting infrastructure. Brokers using STARPrime can now route orders through Your Bourse's matching engine and receive up to 250 instruments, one billion dollars in notional monthly volume, and hosted bridge infrastructure without separate licensing fees.Targeting the Middle Ground Between Retail and Institutional PricingJay Mawji, CEO of STARPrime, said the firm is positioning itself between tier-one institutional providers and simplified retail solutions: "There's a clear space between tier-one providers and everyday brokerages.”[#highlighted-links#] “Our goal is to fill that space with strong pricing, a solid order book, and an approach that doesn't punish brokers for individual aggressive clients, but simultaneously maintains the integrity of their liquidity to ensure that their clients experience a high quality of pricing and execution," Mawji added.Mawji previously worked at Infinox for more than ten years and was appointed the firm’s CEO in February. In June, however, he moved to a new role at STARPrime.STARPrime operates as the institutional division of STARTRADER and holds regulatory licenses across six jurisdictions including ASIC, FCA, and SCA. The firm uses a liquidity aggregation model that pools pricing from multiple market participants and includes a central limit order book to match orders internally when possible.Your Bourse has focused on low-latency infrastructure for retail and institutional clients, processing more than 500,000 order events per second with trade execution in two microseconds. The firm appointed Elina Pedersen as CEO in July 2025, with Co-Founder Andrey Vedikhin moving to Chairman.Routing, Execution and ReportingBrokers connecting through STARPrime receive a defined set of Your Bourse components focused on essential execution functions. The bundle includes platform connectors for MT4 and MT5, the Your Bourse Matching Engine, direct connectivity to STARPrime as a Premium LP, and hosting for the bridge infrastructure.Reporting tools include real-time system logs, FIX log parsing, and the Trade Blotter, a customizable database that tracks all institutional flow, internalized orders, and matched trades. The package also includes email support with a 48-hour response time and instrument coverage for up to 250 symbols chosen by the broker.Kate Rutkovskaya, Chief Revenue Officer at Your Bourse, said the program is meant to offer an alternative to polarized pricing models. "Many brokers often feel they have to choose between 'cheap but limited' and 'too expensive and complex'. With this program, we want to show that there is a middle ground, solid technology and clear pricing that actually fit their size," Rutkovskaya noted.The current CEO has emphasized the need for brokers to differentiate between trading platforms and trade engines, arguing that execution infrastructure should be treated as a separate layer from client-facing interfaces. The company has also integrated its technology with MAP FinTech's regulatory solutions to provide combined risk management and compliance tools. This article was written by Damian Chmiel at www.financemagnates.com.

The Financial Conduct Authority (FCA) launched a consumer verification tool this week as new data reveals 800,000 people in Britain lost money to investment and pension scams over the past year.FCA Launches “Firm Checker”The regulator's research covering the 12 months through May 2024 found social media and phone calls led as the primary contact methods for fraudsters. About 17% of victims who experienced Authorized Push Payment fraud or unauthorized investment scams first encountered the schemes through social media promotions, while an equal share received initial contact by phone. Another 16% were approached via text message, WhatsApp, or other messaging platforms.The new Firm Checker tool allows consumers to verify whether financial services firms hold proper FCA authorization and permissions before engaging with them. Nearly all UK financial firms must carry FCA authorization or registration to operate legally."Ruthless fraudsters are constantly evolving their tactics so they can steal money from innocent victims," said Sheree Howard, executive director of authorizations at the FCA. "Whether you're considering an investment, pension opportunity, loan or other financial service, use Firm Checker to confirm the firm is authorised and help fight financial crime."This is a follow-up to the announcement made three weeks ago, when the FCA said it could reduce transaction reporting costs by more than £100 million by adjusting its requirements. The changes are expected to lower expenses for retail brokers and support more consistent market data.Questions Remain About Tool's DesignThe regulator said it designed and tested Firm Checker specifically with consumers to ensure effectiveness and ease of use, but hasn't detailed the tool's full functionality or technical specifications.Lisa Mckinnon-Lower, a partner at law firm Spencer West, raised concerns about the limited information available. She pointed out that fraud victims often lack the digital skills to navigate verification systems, especially when fraudsters apply real-time pressure during pitches."Even where consumers do check authorization, cloned firms and misleading permissions could continue to create confusion and a false sense of security," Mckinnon-Lower said. "If designed well and used correctly, this tool could be extremely useful at tackling fraud, perhaps beyond the scope currently envisaged."The Firm Checker won't confirm Financial Services Compensation Scheme or Financial Ombudsman Service coverage for specific products. The tool also excludes certain firm details available on the full Financial Services Register, including published restrictions on crypto activities, historical fines, financial promotion approval rights, and client money handling capabilities.Broader Regulatory Pressure on UK FirmsThe launch follows the FCA's recent moves to tighten oversight of retail brokers, including doubling reporting requirements for all FCA-regulated entities starting in 2027. The regulator also flagged CFD firms in November for inconsistent charges and inadequate consumer protections.The FCA notes the tool's information may take up to 24 hours to update and disclaims liability for errors in firm-provided data. Consumers must still conduct independent checks to verify product suitability and protection coverage. This article was written by Damian Chmiel at www.financemagnates.com.