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EURUSD Technical Analysis Report 28 January, 2025

EURUSD currency pair can be expected to fall further to the next support level 1.0370 (low of the previous minor correction B).  – EURUSD reversed from resistance area – Likely to fall to support level 1.0370 EURUSD currency pair recently reversed down from the resistance area located between the key resistance level 1.05100 (which has been reversing the pair from the middle of December, can be seen from the daily EURUSD chart below), upper daily Bollinger Band and the 50% Fibonacci correction of the downward impulse from the start of November. The downward reversal from the resistance level 1.05100 is likely to form the daily Japanese candlesticks reversal pattern Evening Star, which will stop the the earlier minor impulse wave C– which belongs to the medium-term ABC corrective wave (B) from the start of January. Given the clear daily downtrend, overbought daily Stochastic and the bearish euro sentiment seen today, EURUSD currency pair can be expected to fall further to the next support level 1.0370 (low of the previous minor correction B). 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.  

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Metaplanet to raise $745 million for massive Bitcoin buy

Japanese investment firm Metaplanet plans to raise 116 billion yen ($745.5 million) to buy additional Bitcoin. The company will issue 21 million shares of 0% discount warrants, giving holders the right to buy Metaplanet shares at a predetermined price before expiration. If completed, the company claims this would represent the largest capital raise in Asian equity markets history for Bitcoin purchases. Metaplanet cited the yen’s weakening value against the U.S. dollar—currently nearing an exchange rate of 160 yen—as a primary driver for the move. In a statement, the company said, “Such circumstances have led us to raise funds and purchase Bitcoin as quickly as possible.” This announcement comes shortly after Bitcoin reached a new all-time high in January 2025, trading at $102,794. Metaplanet, which adopted the Bitcoin Standard in April 2024, has seen rapid growth since the shift, according to CEO Simon Gerovich. “The market has recognized Metaplanet as Tokyo’s preeminent Bitcoin company, and we are seizing this momentum to solidify our position as a global leader,” Gerovich said. The firm’s last Bitcoin acquisition occurred in December, when it added 619.7 BTC for 9.5 billion yen ($60.6 million) through a bond issuance. Currently holding 1,761 BTC, Metaplanet is the 12th largest publicly traded holder of Bitcoin. The company plans to expand its holdings to 10,000 BTC by the end of this year and 21,000 BTC by 2026. Metaplanet’s growing Bitcoin portfolio remains modest compared to that of MicroStrategy, the largest public corporate Bitcoin holder, which owns 439,000 BTC. Last month, the firm partnered with SBI VC Trade, the crypto arm of SBI Group, to access compliant corporate custody services. Metaplanet CEO Simon Gerovich said that the partnership will support Metaplanet’s Bitcoin accumulation strategy by engaging with key stakeholders in Japan. Metaplanet added that access to a compliant corporate custody service is a critical component of the partnership, which prioritizes tax efficiency and considers using Bitcoin as collateral for financing.

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Nuvei enters Japanese market via Paywiser acquisition

Nuvei Corporation has announced its entry into the Japanese market following its acquisition of Paywiser Japan Limited, which includes an acquiring license granted by Japan’s Ministry of Economy, Trade, and Industry, enabling Nuvei to offer direct acquiring capabilities in the country across major card schemes and alternative payment methods (APMs). The firm’s headquarters in Tokyo will complement its existing offices in China, Hong Kong, Australia, and Singapore. Over 200 payment experts will be located across the Asia-Pacific region. “Building on our existing presence and laying down even stronger roots in Japan” Philip Fayer, Nuvei Chair and CEO, said, “We’re delighted to be building on our existing presence and laying down even stronger roots in Japan, one of the preeminent eCommerce markets globally. This expansion aligns with our strategic priorities to continue growing our global footprint, offer localized payments experiences on a global scale, and enable our customers to get closer to their customers through payments, wherever they are and however they want to pay. With our modular payments technology and extensive local expertise, we’re well positioned to help businesses of all sizes accelerate their growth within this dynamic ecosystem.” Japan’s eCommerce market represents significant growth opportunities, as the fourth-largest globally and the second-largest in the APAC region. The market is expected to grow at a compound annual growth rate of 11.6% from 2024 to 2032, with its total size projected to increase from USD 230 billion to more than USD 650 billion over the same period. By 2026, the volume of online buyers in Japan is forecast to exceed 100 million people, accounting for 83% of the population. eCommerce transactions are expected to make up 22% of all commerce by 2028. The acquisition enables Nuvei’s international clients to enter the Japanese market seamlessly through a single integration with Nuvei’s core platform. This entry facilitates cross-border business expansion and offers local Japanese businesses the ability to scale operations with agile payment solutions. Nuvei’s portfolio of payment technologies includes modular capabilities that support diverse business models and transaction types. Nuvei obtained MPI license from Singapore MAS Last year, Nuvei secured a Major Payment Institution (MPI) license from the Monetary Authority of Singapore. The regulatory milestone will enable the payments company to significantly expand across the APAC region and offer domestic and cross-border money transfers, along with merchant acquisition services in Singapore. Nuvei’s platform is tailored to reduce operating costs for businesses, improve conversion rates, ensure payment solution consolidation, maximize payment acceptance, and minimize risk while improving customer payment experiences. Beyond Singapore, Nuvei has been enhancing its presence across the Asia-Pacific, including launching direct card-acquiring capabilities in Australia and growing its operations in China. Nuvei supports 680 alternative payment methods and provides acquiring options in more than 50 markets.

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TradeStation becomes first US broker for options trading on TradingView

TradeStation Securities, Inc. has become the first U.S. broker to offer options trading on charting and trading platform TradingView to allow new and existing clients of TradeStation to trade options directly within TradingView’s interface.  The new functionality provides users with direct market access, advanced charting capabilities, and real-time data. The integration supports TradingView’s vision of democratizing data access while enabling a streamlined trading experience. DMA, free real-time, Level 2 data, Market Depth trading “TradeStation will be the first U.S. broker for options trading as TradingView introduces this asset class to its platform,” said John Bartleman, President and CEO of TradeStation Group, Inc. “With the options integration, new and existing TradeStation clients can leverage direct-market access, free real-time and Level 2 data as well as Market Depth trading, all through one single connection on the TradingView platform. This collaboration reinforces TradeStation Securities’ role as a catalyst for traders looking to create their ultimate trading experience.” Pierce Crosby, General Manager of TradingView, said, “For over a decade, TradingView has consistently expanded its offerings, adding new assets and markets to its global platform. We are excited to collaborate with TradeStation Securities to bring options trading to our community, reinforcing our shared commitment to democratizing data and information access for investors worldwide.” TradeStation offers equities, options, futures, and futures options TradeStation Securities is known for offering advanced trading tools tailored for equities, options, futures, and futures options. The platform caters to sophisticated traders and institutional clients, delivering a customizable ecosystem that supports complex strategies and trading needs. TradeStation’s suite of tools is available across desktop, web, mobile, and API technologies, providing flexibility and accessibility for its users. The addition of options trading on TradingView further solidifies its commitment to enhancing user experience and offering comprehensive trading solutions. TradingView, a platform with over 90 million traders globally, continues to expand its capabilities by integrating innovative solutions like this partnership with TradeStation. Known for its robust charting tools and user-friendly design, TradingView offers tools such as 110+ drawing instruments and 400+ technical indicators, supporting both retail and institutional users in making informed trading decisions. TradeStation launched HUB The broker recently launched HUB, a central portal designed to provide applicants and clients with a more streamlined experience. The self-clearing online brokerage firm for trading stocks, options, futures, and futures options will replace its Client Center with HUB. Client Center has served as TradeStation’s platform for account information, customer profile, tax preparation, and support tools. Now, HUB will improve TradeStation’s account application and onboarding process, making it faster and easier to open an account, fund it, and begin trading. HUB integrates various resources, including TradeStation’s trading platforms, trade-ready checklists, account management tools, allocation breakdowns, portfolio highlights, tax documents, and support services. It aims to create a seamless user experience, allowing traders to switch effortlessly between tools and services. This launch reflects TradeStation’s commitment to delivering institutional-grade services tailored to traders’ needs. HUB is live, with a 35% client adoption rate within the first 30 days. TradeStation integrated QuantConnect, Option Circle, Options Play In September 2024, TradeStation Securities teamed up with QuantConnect, an open-source algorithmic trading platform for quant traders, to make its online brokerage product offering available via the quant platform. The multi-asset class broker-dealer and futures commission merchant now offers connectivity for trading in equities, equity options, futures, and futures options via the QuantConnect platform. The goal of the integration is to allow mutual customers to create and automate their trading strategies via the QuantConnect platform while executing trades, via an API connection, through their TradeStation Securities brokerage account. TradeStation Securities also integrated with Option Circle to provide users with market access and trading within Option Circle’s suite of tools without the need for a separate brokerage platform. A subsidiary of Trading Circle, Option Circle is an AI-driven bot platform that offers comprehensive analysis tools and features so that every retail investor has better information, tools, and opportunities for an accessible price. The U.S. multi-asset class broker-dealer now allows its clients who are Option Circle subscribers to gain access to Option Circle’s offerings, which include automated trading bots, detailed analytics, algorithmic trading strategies, no-code trading algorithms, and a Round Table message board to actively engage and share their insights. Option Circle subscribers also may be able to generate income by licensing their trading bots and strategies through Option Circle’s platform. In April, TradeStation integrated with options analysis platform, OptionsPlay, in a similar kind of partnership that allows its users to subscribe to OptionsPlay and have the unique ability to directly execute trades from within the OptionsPlay platform. This eliminates the need to switch between platforms to act on trading insights, streamlining the process and providing a more efficient trading experience. TradeStation clients also benefit from customized pricing and gain access to a wide range of OptionsPlay’s services, including research, trade ideas, and educational tools. OptionsPlay helps users leverage options in their portfolio by providing strategic decision tools, daily trading signals, market commentary, and opportunity reports​. With features like Daily Trade Ideas, Market Updates & Reports, and a strong focus on Community and Education, OptionsPlay seeks to transform analysis paralysis into actionable trading strategies​.

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We’re Not All F**ked: Canada regulator launches campaign about AI-driven investment scams

The British Columbia Securities Commission (BCSC) has launched a new fraud prevention campaign aimed at addressing the growing use of artificial intelligence (AI) in investment scams. The campaign, titled “We’re Not All F**ked,” seeks to educate British Columbians on identifying and avoiding AI-enabled fraud, which has become an increasing concern in the financial sector. Investors deceived with AI-driven chatbots, deepfakes, and fake reviews AI tools, including chatbots, deepfakes, and fake reviews, are being used by fraudsters to deceive investors, making it harder for individuals to differentiate between legitimate and fraudulent opportunities. Research conducted by the BCSC found that 71% of British Columbians are concerned about AI technology being used in investment scams, while over half are unsure where to find reliable information about such risks. Pamela McDonald, Director of Communications and Education at the BCSC, said: “AI is a new tool for fraudsters to use to deceive investors, but the warning signs are much the same as other types of investment fraud. You are the first line of defense. So it’s more important than ever that you pause, think critically, and do your own research before investing.” The campaign includes an anthemic music video highlighting how AI is exploited in scams, alongside a dedicated microsite, avoidAIscams.ca. The site provides actionable tips and resources to help individuals protect themselves from AI-related fraud. The BCSC outlined several measures for British Columbians to safeguard against AI-enabled investment fraud: Check regulatory warnings: Use the BCSC’s Investment Caution List and look for negative reviews. Be cautious of positive reviews, as they can often be faked. Verify legitimacy: Use the National Registration Search to confirm whether the person or company you’re dealing with is registered to buy or sell investments. Cross-check phone numbers listed in the National Registration Database and call to ensure accuracy. Confirm identities: When possible, meet representatives in person while maintaining personal safety. Ensure the individual or company is who they claim to be. Report suspicious activity: Notify the BCSC about any potential investment fraud to help prevent further scams. In 2022, Canadians lost $530 million to fraud and cybercrime, marking a 40% increase from the previous year, according to the Canadian Anti-Fraud Centre. However, the real figure is likely much higher, as only 5–10% of victims report such crimes. The BCSC continues to emphasize that, while AI presents new challenges, the red flags of investment fraud remain consistent. These include promises of guaranteed high returns with no risk, pressure to make quick decisions, unanswered questions, and leveraging personal relationships to create trust.

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OKX, Crypto.com gain full MiCA licenses to operate across EU

OKX and Crypto.com secured full licenses under the European Union’s Markets in Crypto-Assets Regulation (MiCA). On January 27, OKX announced that its dedicated Malta hub obtained MiCA authorization from the Malta Financial Services Authority (MFSA). Crypto.com similarly received its license on the same day. The licenses allow these platforms to operate throughout the European Economic Area (EEA) using MiCA’s “passporting” mechanism. This framework enables businesses registered in one EU country to provide services across other member states without needing separate approvals, simplifying cross-border operations. OKX plans to expand its offerings in the EEA, including over-the-counter (OTC) trading, spot and bot trading for various crypto tokens, and localized platform interfaces. Crypto.com, on the other hand, announced plans to introduce a wide range of crypto services to the region. OKX Europe CEO Erald Ghoos said that the license provides a robust foundation for growth in a region with “immense potential” for blockchain and digital assets. Ghoos also highlighted MiCA’s harmonized regulations, which offers streamlined operations across 30 EEA markets and potentially reach over 400 million users. Crypto.com’s President Eric Anziani praised the EU’s proactive regulatory approach, noting that the MiCA license simplifies compliance and supports seamless cross-border activities. Austrian fintech firm Bitpanda also announced its MiCA license on January 27. CEO Eric Demuth stressed that the success of MiCA hinges on consistent enforcement by EU regulators, warning that weak oversight could undermine the framework and put compliant entities at a disadvantage. MiCA seeks to create a unified regulatory environment for digital assets, covering areas such as asset classification, provider requirements, and jurisdictional oversight. Initially proposed in 2020 and adopted in 2023, the regulation became fully enforceable in December 2024. Beyond Europe, Crypto.com has been rapidly expanding into other major markets. In late 2024, it launched an institutional cryptocurrency custody service in the United States and acquired broker-dealer Watchdog Capital to strengthen its U.S. presence. Founded in 2016, Crypto.com claims a user base of over 100 million worldwide.

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MicroStrategy owns 2.2% of Bitcoin supply, launches preferred stocks

MicroStrategy officially launched its long-awaited convertible preferred stock offering on Monday, opening up to institutional investors and select retail investors. Named STRK, the offering consists of 2.5 million shares of MSTR’s Series perpetual strike preferred stock, each with a $100 liquidation preference. These shares will pay cumulative dividends at a fixed rate determined at the time of pricing and are set to be distributed quarterly, pending board approval. The company plans to direct the proceeds from this offering towards general corporate purposes, including further Bitcoin acquisitions. Perpetual preferred stock, unlike bonds, doesn’t carry a maturity date or mandatory redemption. Instead, it pays fixed dividends indefinitely, as long as MicroStrategy remains in operation. Holders of the STRK shares will have the option to convert them into class A common stock under certain conditions, receiving cash instead of fractional shares. MicroStrategy also retains the ability to repurchase the preferred stock at its liquidation value—plus unpaid dividends—if the total stock value falls below 25% of the original issuance amount or certain tax events arise. In certain situations, the redemption price may also reflect recent market prices. Additionally, in the case of significant corporate events, shareholders can request MicroStrategy to repurchase their shares at their liquidation value, along with any outstanding dividends. During a recent investor meeting, MicroStrategy’s co-founder and executive chairman Michael Saylor said the company aims to offer investors returns and volatility at roughly 1.5 times that of Bitcoin itself. Earlier today, MicroStrategy acquired an additional 10,107 BTC for $1.1 billion, according to an SEC filing. The company now owns 471,107 BTC, which it bought at an average cost of $64,511 per coin, amounting to over $46 billion in Bitcoin holdings. These acquisitions make MicroStrategy the owner of more than 2.2% of Bitcoin’s total 21 million supply. The company financed the transaction through the sale of 2,765,157 shares, which raised the same amount as the recent Bitcoin acquisition. This is part of MicroStrategy’s ongoing “21/21 plan,” which seeks to raise $42 billion in total for Bitcoin purchases through equity and fixed-income offerings. Last week, MicroStrategy also redeemed $1.05 billion in 2027 convertible notes, using its shares to settle conversion requests. MicroStrategy made consistent Bitcoin acquisitions over the past three months, spending nearly $20 billion in that time. The company’s market cap currently stands at $87.2 billion, reflecting a massive premium compared to its net Bitcoin asset value.

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Global FX Market Summary: US Dollar Weakness, Trade Policy Uncertainty, DeepSeek pressures US tech stocks 27 January 2025

Dollar dips despite market jitters; EUR strengthens, yields drop. Trade policy spooks investors; AI competition pressures US tech stocks. US Dollar Weakness Despite Risk Aversion The US Dollar (USD) is exhibiting weakness against other currencies, especially those with higher yields like the Euro (EUR). This is unusual because it’s happening even though there are factors present that would typically cause the dollar to strengthen, such as the risk aversion currently being seen in the market (evidenced by declining stock futures). This unexpected dollar weakness is highlighted by a few key things: the EUR/USD pair reaching multi-week highs around 1.0520, US Treasury bond yields declining (with the 10-year note down about 10 basis points to 4.51%), and the USD not acting as a strong safe-haven currency as would be expected. This is further supported by the stronger performances of the Japanese Yen and Swiss Franc, both generally considered safer bets than the dollar during times of market uncertainty. Trade Policy Uncertainty & Potential Tariffs US trade policy is causing significant uncertainty in the market, particularly concerning potential tariffs. News reports that the US could be planning to impose tariffs on Canada and Mexico as soon as February 1st are contributing to investor anxiety. Additionally, the US President has threatened tariffs on Colombian imports (initially 25%, potentially increasing to 50%) due to a dispute over deportations. Although these tariffs were put on hold after an agreement was reached, the fact that they were threatened in the first place indicates the President’s willingness to use tariffs as a tool in negotiations, which could have implications for other trade relationships. Impact of AI Developments on Technology Stocks The emergence of DeepSeek, a Chinese AI model, is causing concern in the tech sector. Reports indicate this model is comparable to or exceeding the performance of existing top AI models from companies like Meta, OpenAI, and Anthropic. This has led to worries about the valuations of American technology companies and is likely contributing to significant drops in US equity futures. Companies like Nvidia, which are heavily involved in AI technology, are particularly impacted. This situation highlights the potential for shifts in the global AI landscape and the impact such changes can have on market sentiment and individual company valuations.     Top economic events for this week: January 27, 2025, 01:30:00 – NBS Manufacturing PMI & NBS Non-Manufacturing PMI (CNY): These are key indicators of China’s economic health. Manufacturing PMI reflects factory activity, while Non-Manufacturing PMI covers the service sector. Both are crucial for assessing the strength of the world’s second-largest economy and have a significant impact on global markets. January 27, 2025, 08:10:00 – ECB’s President Lagarde speech (EUR): Speeches by central bank leaders, especially the ECB President, are closely watched for hints about future monetary policy, interest rate changes, and the economic outlook. These comments can cause significant volatility in the Euro. January 28, 2025, 09:00:00 – ECB Bank Lending Survey (EUR): This survey provides insights into lending conditions in the Eurozone, which is a critical factor for economic growth. Tighter lending standards can signal economic slowdown, while looser standards can suggest expansion. January 28, 2025, 17:00:00 – ECB’s President Lagarde speech (EUR): Another speech by Lagarde within the same week suggests potential for further market reactions if her messaging changes or provides new details on the ECB’s stance. January 29, 2025, 00:30:00 – Consumer Price Index (CPI) related releases (AUD): The Australian CPI data, including both quarterly and monthly figures, along with the RBA’s trimmed mean CPI, is a major inflation indicator. These releases influence the Reserve Bank of Australia’s (RBA) monetary policy decisions and can significantly affect the Australian dollar. January 29, 2025, 14:15:00 – BoE’s Governor Bailey speech (GBP): Similar to Lagarde’s speeches, comments from the Bank of England Governor can provide crucial insights into the UK’s economic outlook and monetary policy, impacting the British pound. January 29, 2025, 14:45:00 – BoC Interest Rate Decision & related releases (CAD): The Bank of Canada’s interest rate decision, accompanied by the Monetary Policy Report and Statement, is a major event for the Canadian dollar. These releases provide insight into the central bank’s view of the economy and its future policy direction. The subsequent press conference is also important. January 29, 2025, 19:00:00 – Fed Interest Rate Decision & related releases (USD): The Federal Reserve’s interest rate decision, along with the Monetary Policy Statement and FOMC press conference, is arguably the most important event of the week. It has a global impact on all markets due to the US dollar’s reserve currency status. January 30, 2025, 09:00 & 10:00 – Gross Domestic Product (GDP) releases (EUR): The Eurozone’s GDP figures provide a comprehensive picture of the region’s economic performance. These releases are closely watched by investors and policymakers alike. January 30, 2025, 13:15:00 & 13:45:00 – ECB Main Refinancing Operations Rate & Press Conference (EUR): The ECB’s interest rate decision and the following press conference are key events for the Euro. Changes in interest rates and forward guidance from the ECB president can significantly impact the currency.   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.

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ESMA set to go live with new DPE regime for OTC transaction reporting

The European Securities and Markets Authority (ESMA) has announced that the new Designated Publishing Entity (DPE) regime for reporting Over the Counter (OTC) transactions for post-trade transparency will come into effect on 3 February 2025. Additionally, ESMA has decided to discontinue the quarterly publication of systematic internalisers (SI) data with immediate effect. DPE shifts responsibility to designated publishing entities As part of the MiFIR review, the DPE regime shifts the responsibility for OTC transaction reporting from systematic internalisers (SIs) to designated publishing entities. Previously, many investment firms opted into the SI regime to facilitate transaction reporting for their clients, even when they were not dealing on own account systematically. ESMA notes that this led to disproportionate regulatory burdens on such firms. Under the new regime, national competent authorities (NCAs) will grant the DPE status to qualifying investment firms. These DPEs will be required to make transaction details public through approved publication arrangements (APAs). ESMA has established a public register of DPEs categorized by financial instrument classes to assist market participants in identifying relevant entities. The register lists DPEs by class of financial instrument, such as shares, ETFs, bonds, and derivatives, to help market participants identify reporting entities. Investment firms intending to act as DPEs are required to register with their respective NCAs and indicate their target financial instrument classes. NCAs forward this information to ESMA, ensuring that the register is up-to-date and accessible on ESMA’s website. Initially published in XLSX format, the register will be integrated into ESMA’s IT systems by the end of 2025 for real-time updates. End of systematic internalisers data publication In light of the MiFID II amendments, ESMA will no longer perform quarterly SI calculations after September 2025. Given the impending end of the mandatory SI regime on 1 February 2025, ESMA has decided to stop the voluntary publication of SI calculation data immediately. This decision aims to reduce administrative burdens for investment firms and reflects the limited utility of continuing these calculations during the transition period. While the mandatory SI regime will cease, investment firms retain the option to voluntarily opt into the SI regime if they find it beneficial for their operations. The implementation of the DPE regime marks a significant adjustment in the post-trade transparency landscape, aligning with the broader regulatory reforms under MiFIR and MiFID II amendments. Market participants are advised to review their compliance frameworks in anticipation of these changes.

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Gold Technical Analysis Report 27 January, 2025

Gold can be expected to correct further down to the next support level 2725.00 (former monthly high from December, acting as the support after it was broken earlier this month).   – Gold reversed from resistance area – Likely to fall to support level 2725.00 Gold recently reversed down from the resistance area located between the key resistance level 2785.00 (which stopped the previous sharp upward impulse wave (5) at the end of October, can be seen from the daily Gold chart below) and the upper daily Bollinger Band. The downward reversal from the resistance level 2785.00 is likely to form the daily Japanese candlesticks reversal pattern Dark Cloud Cover, which will stop the the active minor impulse waves iii and 3 – both of which belongs to the medium-term impulse wave (3) from the middle of December. Given the strength of the resistance level 2785.00 and the overbought daily Stochastic,  Gold can be expected to correct further down to the next support level 2725.00 (former monthly high from December, acting as the support after it was broken earlier this month). Gold Technical Analysis 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.

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Titan FX wins big with FinanceFeeds Broker of the Year – Asia award

Titan FX, a trusted name in online trading with over a decade of experience, has been named Broker of the Year – Asia at the FinanceFeeds Awards 2024.  The award highlights the company’s strong performance and influence in the Asian market, where it has rapidly become a trusted brand among traders. Titan FX provides a versatile range of trading products tailored to a diverse clientele in Asia and beyond, including forex, metals, indices, shares, commodities, and digital assets. These products come with competitive spreads, lightning-fast execution, and 24/7 accessibility.  Forex trading in Asia presents numerous opportunities, supported by established financial hubs, a diverse regulatory environment, and technological advancements. Asia’s robust economic growth and increasing participation from tech-savvy investors also contributed to the expansion of forex trading in the region.  Titan FX nailed this win in a tough category, earning recognition for their solid tech, top-notch service, and products that really hit the mark for investors. In such a competitive space, this achievement stands out, all thanks to Titan FX’s dedication to setting themselves apart as a best-in-class platform.  Titan FX specializes in providing access to global markets, including forex, commodities, indices, and other CFDs. Titan FX’s ECN pricing model, ultra-fast trade execution, and advanced technology positioned it as a leading choice for traders. Meanwhile, Titan FX caters to traders of all levels, from beginners to seasoned professionals, by offering flexible account options and access to industry-leading platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5).  Nikolai Isayev, FinanceFeeds EIC, commented: “The Broker of the Year – Asia award reflects Titan FX’s strong presence and reputation in the Asian market. Known for its focus on transparency, reliability, and customer service, Titan FX has built lasting relationships with traders in the region. The broker’s deep understanding of the unique needs of Asian traders allows it to tailor its offerings, providing localized support and a seamless trading experience.”  Titan FX continues to build on its legacy of exceptional customer support and outstanding trading conditions. With a dedicated 24/5 multilingual support team, traders can count on timely assistance whenever they need it. Titan FX’s commitment to service excellence has previously earned them the UF Award for Best Customer Support – Global. Titan FX builds trust by putting security and reliability first. With cutting-edge technology safeguarding client funds and personal information, the platform creates a secure trading environment, allowing clients to focus confidently on achieving their financial goals. Beyond its superior trading conditions, Titan FX is committed to empowering its clients through educational resources and actionable market insights. The broker offers a wealth of learning materials, including webinars, tutorials, and market analysis, to help traders sharpen their skills and stay ahead of market trends.  Celebrating their win, a Titan FX Managing Director,  Martin St. Hilaire siad : “We’re thrilled to have our systems, operations, and trading conditions acknowledged by some of the most respected figures in the financial industry. As Titan FX celebrates its recognition as Broker of the Year – Asia, we remain dedicated to raising the bar for excellence in online trading. By continuing to invest in technology, expand its product offerings, and deliver exceptional service, Titan FX aims to empower traders to navigate the complexities of global markets with confidence and success.” Titan FX sets itself apart with its award-winning Introducing Broker (IB) Program, supporting partners across the globe. The program creates a win-win dynamic, offering rewarding partnership opportunities tailored to both introducing brokers and affiliates. To ensure success, Titan FX provides a wealth of resources, including marketing tools and educational materials, empowering IBs to attract and retain clients effectively. The broker also prioritizes partner support with a dedicated team, always ready to assist with questions or challenges. The FinanceFeeds Awards are held each year to spotlight top brokers and tech providers who make a real impact by delivering top-notch services that help clients level up their investment skills. These awards set the standard for excellence in the industry, identifying standout market players who are leading and reshaping the world of online trading.

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Tron, Tether help Spanish police seize $26.4 million in crypto

The T3 Financial Crime Unit, a collaboration between the Tron blockchain, Tether, and TRM Labs, has frozen $26.4 million in cryptocurrency tied to a large-scale European money laundering scheme. In partnership with Spanish law enforcement, the funds were linked to a criminal organization that used both cash and crypto to help launder illicit profits across borders, according to a statement from Spain’s Guardia Civil. The operation is the largest coordinated freeze by the T3 Financial Crime Unit—a joint anti-crime initiative launched by the three blockchain companies in August 2024. Using Know Your Customer (KYC) data from service providers, authorities traced the criminal group’s wallets and flagged them for illicit activities. The unit leverages TRM Labs’ blockchain intelligence tools to monitor and analyze transactions involving USDT on the Tron blockchain. Tron is the largest blockchain network for USDT transactions, with $60.8 billion in Tron-based USDT, roughly 51% of all USDT in circulation. In its first year, the T3 Unit recorded $126 million in frozen funds. Tron’s increased focus on security also contributed to these efforts, reducing illicit volumes on its blockchain by an estimated $6 billion. TRM Labs reports that most illegal activity on Tron is tied to sanctioned entities and blocklisted funds, even though Tron remains the most used blockchain for such transactions. Similarly, Tether’s USDT token continues to be a preferred asset for criminals, with the company stating its willingness to crack down on abuse. In a press release, Tether CEO Paolo Ardoino highlighted the risks criminals face when misusing Tether’s services, noting the company’s previous actions, such as freezing $225 million in USDT linked to pig butchering scams following a U.S. Department of Justice investigation. According to TRM Labs’ head of global investigations, Chris Janczewski, the largest source of frozen funds involved “money laundering as a service,” where bad actors hire entities on the dark web to launder illicit funds. Other cases included investment scams, terrorism financing, illicit drug trade, hacks, blackmail scams, and violent crime. As illicit actors increasingly face asset freezes, some are turning to alternative solutions, including launching their own stablecoins, in an attempt to evade detection. Huione, a notorious Chinese-language marketplace linked to illicit goods and services, launched its own stablecoin, USDH, and an independent chat service in a bid to reduce reliance on third-party platforms like Telegram and Tether.    

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Bitget Wallet announces PayFi strategy

Bitget Wallet  has introduced its 2025 strategy with a focus on PayFi, a feature designed to transform crypto from a passive asset into an active financial tool for everyday use. With over 60 million users, Bitget Wallet aims to bridge blockchain innovation and real-world financial usability. PayFi integrates earning, sending, and spending into a unified ecosystem, enabling users to deposit crypto assets like stablecoins into savings accounts that provide real-time yields. These earnings can be utilized for daily expenses such as shopping and subscriptions. Bitget Wallet describes the approach as the “Buy Now, Pay Never” concept, where DeFi yields offset costs. “PayFi is not just a product; it’s a movement to make crypto a viable financial tool for billions globally,” said Alvin Kan, Chief Operating Officer of Bitget Wallet. “By leveraging the PayFi Flywheel, we’re redefining personal finance, integrating blockchain-powered systems into everyday life. This marks a paradigm shift in how people manage money—empowering individuals with tools to maximize productivity and financial freedom while making crypto more practical and impactful worldwide.” The “Buy Now, Pay Never” concept relies heavily on DeFi yields to subsidize user expenses. However, this model raises questions about sustainability, particularly during bearish cycles in the DeFi ecosystem. If yields decline significantly or fail altogether, will customers be left without the promised benefits? The implications for users and the stability of this product in a volatile market environment remain to be seen, highlighting the need for clear communication and contingency plans from Bitget Wallet. Bitget Wallet Card supported by Mastercard A cornerstone of PayFi is the Bitget Wallet Card, supported by Mastercard and linked to a multi-currency international bank account. The card facilitates global spending with competitive exchange rates. Additionally, Bitget Wallet is enhancing its in-app shopping functionality through partnerships with platforms such as Triple A, Bitrefill, IvendPay, PundiX, and Coinpal, enabling users to spend crypto on gift cards, mobile top-ups, and in-store payments. The PayFi strategy also includes flexible yield options for users to grow their assets while maintaining liquidity. Peer-to-peer transfers will be streamlined to ensure faster and more affordable transactions for remittances and daily use. Alvin Kan noted, “We’ve seen exceptional growth in some regions driven by high inflation and limited banking access. In Africa alone, user numbers grew over 1,000% last year, with similar trends in the Middle East and Latin America. These figures underscore the rising demand for decentralized solutions, and with PayFi, we aim to empower underserved regions with accessible financial tools.”

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Judge trims Kraken’s defenses in SEC case over unregistered securities

A California federal judge partially granted the U.S. Securities and Exchange Commission’s request to remove certain defenses put forward by Kraken in its ongoing case. The SEC accuses Kraken, the second-largest U.S. crypto exchange, of offering unregistered securities on its platform. Judge William Orrick struck down Kraken’s argument that the SEC exceeded its authority under the “major questions doctrine.” This doctrine suggests that agencies cannot claim regulatory power unless clearly granted by Congress. Judge Orrick determined that the SEC’s actions were within the scope of its mandate and did not represent an overreach comparable to issues of national economic impact, like energy markets or student loan debt. While the judge ruled against Kraken on the major questions doctrine, he left another defense in play. Kraken claimed that the SEC failed to provide clear notice that its activities violated securities laws. Judge Orrick said the exchange “plausibly alleged” that it was not given sufficient warning under the Howey test—a key standard for determining what constitutes an investment contract. The case against Kraken is part of a broader push by the SEC to bring crypto exchanges under its regulatory framework. Since filing the lawsuit in November 2023, the SEC pursued multiple enforcement actions against other platforms. However, questions about the boundaries of the agency’s authority and the clarity of its guidance remain central to these disputes. Kraken also filed the motion in September, arguing that Orrick’s earlier ruling involved a “controlling question of law” and that an immediate appeal could expedite the case’s resolution. The judge, however, dismissed this argument, asserting that a complete factual record is necessary to determine whether the SEC’s allegations of securities violations meet the Howey Test. The SEC initially filed a suit against Kraken in November 2022, alleging the exchange operated as an unregistered securities exchange, broker, dealer, and clearinghouse. The SEC is seeking disgorgement of profits, civil penalties, and permanent injunctions against Kraken. For its part, Kraken denied the allegations and previously sought to dismiss the case, though Orrick rejected that motion in August. Kraken’s lawyer also argued there were differences between Kraken’s case and previous SEC litigations involving Terraform Labs and Telegram. He referenced Judge Analisa Torres’ ruling in the SEC’s case against Ripple Labs, which determined XRP was a security when sold to institutional investors. Solomon suggested that the case most comparable to Kraken’s was Coinbase’s. The commission urged the court to deny Kraken’s defenses, warning that allowing them would lead to “irrelevant and burdensome discovery” processes.

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BVNK partners with First Digital to enhance stablecoin payment infrastructure with FDUSD

BVNK has announced a strategic partnership with First Digital to integrate First Digital USD (FDUSD), a USD-backed stablecoin, into its payment infrastructure. FDUSD, fully backed by cash and cash equivalents held in segregated holding structures, offers deep liquidity and velocity for businesses seeking secure and efficient digital payment solutions. Launched just four months ago, FDUSD has quickly gained traction, achieving a market cap exceeding $1 billion. It has become the second most traded stablecoin on centralized exchanges, with a single-day trading volume surpassing $23 billion. The collaboration with BVNK marks a significant milestone in expanding FDUSD’s use cases, enabling businesses to capitalize on the rising demand for fast and cost-effective digital payment options. “2025 is undoubtedly going to be a breakout year for stablecoin adoption” Vincent Chok, CEO of First Digital, said, “2025 is undoubtedly going to be a breakout year for stablecoin adoption, with businesses increasingly looking for solutions that address regional challenges like cross-border payment friction and currency volatility. FDUSD was built to provide a fluid, dependable, universal digital dollar tailored for this fast-moving market. Partnering with BVNK ensures businesses around the globe have the tools they need to unlock new efficiencies in a digital-first economy.” Matt Barclay, Chief Revenue Officer at BVNK, said, “FDUSD resonates deeply with the needs of businesses globally, where cross-border payments and liquidity management are critical. Together, we’re not just scaling adoption of FDUSD but also empowering businesses to operate seamlessly across diverse financial ecosystems.” BVNK to integrate FDUSD into its multi-token, multi-blockchain platform BVNK will integrate FDUSD into its multi-token, multi-blockchain platform, offering businesses access to scalable solutions for payments, trading, and settlements. This integration aims to enhance speed, reliability, and cost-efficiency, unlocking new opportunities for institutional and professional investors to explore stablecoin use cases. The FDUSD stablecoin is fully regulated and safeguarded by a top-tier custodian with a trust license, ensuring asset protection and regulatory compliance. Monthly independent attestation reports verify the reserves, providing transparency and trust for users. By incorporating FDUSD, BVNK strengthens its position as a leading provider of stablecoin payment infrastructure. This partnership underscores BVNK’s commitment to enabling businesses to leverage the benefits of stablecoins for global financial operations while addressing key challenges in cross-border payments and liquidity management. The collaboration is expected to drive significant growth and innovation in the stablecoin ecosystem.

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ZachXBT denies rug pull claims after cashing out $4 million

Crypto investigator ZachXBT faced accusations this week of orchestrating a rug pull after removing liquidity from a memecoin bearing his name. The token’s origin is murky, with anonymous creators purportedly gifting ZachXBT a significant portion of its supply. ZachXBT denied involvement in the token’s creation, claiming he merely sold tokens he received unsolicited. “People claimed the token was created to support me, so I sold a portion of those tokens I was gifted,” he told Cointelegraph. He also claims that he never promoted the token to his followers. The accusations reignited debates over memecoins and their legitimacy. While some criticized the move as a profit grab, others defended ZachXBT, pointing out that the token’s creators appeared to exploit his reputation for their own benefit. “From my perspective, what Zach did is completely correct,” blockchain investigator SomaXBT said. “They pumped that token using his name, and he simply took the profit.” Known for tracking fraud and recovering millions of dollars in lost funds, ZachXBT recently voiced frustration over the lack of compensation for his volunteer work. In response, an anonymous developer launched the ZACHXBT meme coin, gifting him half of the total supply. According to data from Lookonchain, ZachXBT added liquidity to the token before withdrawing $3.81 million worth of SOL, sending the funds to the trading firm Wintermute. This move led to a sharp drop in the token’s value, prompting accusations that ZachXBT orchestrated a rug pull—a term typically reserved for projects that abandon their tokens after cashing out. Despite the backlash, ZachXBT continues his investigative work. His recent social media posts warn of emerging scams and caution against the rise of fraudulent tokens linked to celebrity accounts. Whether the controversy will impact his reputation remains to be seen, but for now, ZachXBT appears focused on maintaining his role as a prominent figure in crypto security.  

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ECB cites Trump’s stablecoin push in call for digital euro

The European Central Bank (ECB) may need to move quickly to introduce a digital euro in response to U.S. President Donald Trump’s promotion of dollar-backed stablecoins, ECB board member Piero Cipollone said on Friday. Trump, who pledged support for stablecoins during his campaign, outlined plans in an executive order on Thursday to support growth of lawful dollar-based stablecoins. Cipollone argued that this U.S. push could erode European banks’ customer base and strengthen the case for an ECB-backed digital currency. “This solution, you all know, further disintermediates banks as they lose fees, they lose clients,” Cipollone told a conference in Frankfurt. “That’s why we need a digital euro.” Cipollone warned that the eurozone risks falling behind if it doesn’t counter this trend with its own central bank digital currency (CBDC). The ECB is currently testing how a digital euro would operate, though it won’t decide on issuing one until European lawmakers finalize related legislation. A digital euro would function as an ECB-guaranteed online wallet, accessible to non-bank customers for simple payments. Still, holdings would be limited and non-interest-bearing to minimize disruption to traditional banks. ECB executives also speculate that the launch of a digital currency will reduce the euro zone’s dependence on U.S. electronic payment systems like Visa and Mastercard and to counter the rise of non-European online payment providers such as PayPal. However, the idea of a digital euro raised concerns among banks, which fear it could draw funds away from their accounts. The ECB’s experimentation continues, but Cipollone stressed that the rise of stablecoins, especially under supportive U.S. policies, makes a strong case for Europe to act. In contrast to Europe’s cautious approach, countries like Nigeria, Jamaica, and the Bahamas already launched digital currencies. Other major economies, including China, Australia, and Brazil, are also running CBDC pilots. Cipollone pointed to these global efforts as a reminder that the eurozone must adapt or risk being left behind in the digital currency race.

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MicroStrategy may pay $3 billion tax on Bitcoin gains

MicroStrategy, the largest corporate Bitcoin holder, could be on the hook for federal income taxes on its unrealized crypto gains due to the Inflation Reduction Act of 2022. The law’s corporate alternative minimum tax (CAMT) provision imposes a 15% minimum tax on certain corporations’ adjusted earnings, including unrealized gains on assets like Bitcoin. The company currently holds over 450,000 BTC—worth more than $48 billion—with an estimated $19.3 billion in unrealized gains. Despite these figures, MicroStrategy has never sold any of its Bitcoin holdings. Michael Saylor, MicroStrategy’s executive chairman, previously faced scrutiny over tax issues. In June 2024, MicroStrategy settled a tax fraud lawsuit for $40 million, following allegations from the D.C. attorney general that Saylor avoided paying district income taxes for at least a decade. Interestingly, Saylor shared a misleading post on October 30, attributing a quote to Donald Trump that falsely stated, “Bitcoin is money” and suggested a tax-free stance on crypto. Saylor’s personal Bitcoin holdings are also substantial. He revealed in a 2020 tweet that he acquired 17,732 BTC at an average price of $9,882. At current prices, his holdings are worth over $1.8 billion, placing him among the top Bitcoin addresses. Growing focus on crypto taxation Both MicroStrategy and Coinbase criticized the CAMT framework. In a January letter to lawmakers, they argued that the tax on unrealized crypto gains would create “unjust and unintended tax consequences” for companies holding substantial digital assets. The letter urged the U.S. Treasury and IRS to exclude unrealized crypto gains from the adjusted financial statement income used to calculate CAMT liability. The pushback highlights concerns that applying CAMT to crypto could discourage companies from holding digital assets on their balance sheets. While MicroStrategy and Coinbase advocate for changes to the rules, the IRS may consider exemptions under President Trump’s more crypto-friendly administration. These developments come as the IRS tightens its focus on cryptocurrency. In June 2024, the agency introduced new guidelines requiring centralized exchanges to report digital asset sales starting in 2025. This move aims to improve tax compliance among crypto investors but has also drawn criticism. The Blockchain Association, for instance, filed a lawsuit against the IRS last year, arguing that the reporting requirements could raise constitutional questions.  

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Global FX Market Summary: US Dollar Weakness, Global PMI Data, Gold’s Surge  24 January 2025

US dollar weakened due to domestic policies, mixed economic data, and external pressures, while PMI trends shaped currencies, boosting gold. US Dollar Weakness and Contributing Factors The US dollar faced significant weakening due to a combination of domestic policies, economic data, and external developments. Trump’s statements had a notable impact on the US dollar. His comment about preferring not to impose tariffs on China eased trade tensions, which reduced the dollar’s appeal as a safe-haven asset. At the same time, Trump’s public call for immediate interest rate cuts by the Federal Reserve added to the downward pressure on the dollar, as markets priced in the likelihood of monetary easing. The US economic picture was further clouded by mixed Purchasing Managers’ Index (PMI) results. While the Manufacturing PMI slightly exceeded expectations by climbing to 50.1, the Services PMI fell short of forecasts, dropping to 52.8. This disparity signaled ongoing economic uncertainty, which weakened investor confidence in the dollar. Adding to the dollar’s struggles was the Bank of Japan’s unexpected interest rate hike. This decision increased the appeal of the Japanese yen, putting additional pressure on the US dollar and further dampening its value relative to currencies with rising interest rates. Global PMI Data and Currency Movements PMI data from various regions played a crucial role in shaping global currency movements, reflecting differing levels of economic performance. The Eurozone demonstrated resilience with upbeat preliminary PMI data. The Composite PMI rose to 50.2, signaling growth in the region. Germany, the Eurozone’s economic powerhouse, showed significant improvement in its PMI figures, which strengthened the euro against the weakening US dollar. In the United Kingdom, the PMI data outperformed expectations, with the Composite PMI climbing to 50.9. This stronger-than-expected reading bolstered the pound sterling, further eroding the US dollar’s position in currency pairings. In contrast, the US PMI data painted a mixed picture. While the Manufacturing PMI indicated modest growth, the underwhelming Services PMI reflected economic challenges. This divergence added to the dollar’s weakness and highlighted the economic uncertainties facing the US. Gold’s Surge Amid Dollar Weakness Gold prices soared to near all-time highs, reflecting its status as a safe-haven asset during times of uncertainty and dollar weakness. The declining value of the US dollar made gold more attractive to investors holding other currencies. As the dollar weakened, gold’s relative value increased, boosting demand. Trump’s remarks about avoiding tariffs on China contributed to easing global trade tensions, reducing risk aversion. This, paradoxically, also supported gold prices, as it remained a preferred safe-haven asset in an environment of uncertainty. Expectations of further interest rate cuts by the Federal Reserve provided additional support for gold. Lower interest rates reduce the opportunity cost of holding non-yielding assets like gold, making it a more attractive investment.     Top economic events for next week: January 27, 2025, 01:30:00 – NBS Manufacturing PMI (CNY) – HIGH: This Purchasing Managers’ Index (PMI) provides a key snapshot of manufacturing activity in China. A reading above 50 indicates expansion, while below 50 signals contraction. Given China’s role in the global economy, this data has significant implications for global trade and economic growth. January 27, 2025, 01:30:00 – NBS Non-Manufacturing PMI (CNY) – HIGH: Similar to the manufacturing PMI, this index focuses on the service sector in China. This is crucial as the service sector is an increasingly important part of the Chinese economy. January 28, 2025, 09:00:00 – ECB Bank Lending Survey (EUR) – HIGH: This survey provides insights into lending conditions in the Eurozone. Changes in lending standards, loan demand, and credit terms can significantly impact economic activity and are closely watched by the European Central Bank (ECB). January 29, 2025, 00:30:00 – Consumer Price Index (CPI) (AUD) – HIGH: This measures the change in prices of goods and services purchased by households in Australia. CPI is a key indicator of inflation and influences the Reserve Bank of Australia’s (RBA) monetary policy decisions. The multiple readings (QoQ, YoY, Trimmed Mean) provide a comprehensive view of inflation trends. January 29, 2025, 14:45:00 – BoC Interest Rate Decision/Monetary Policy Report/Statement/Press Conference (CAD) – HIGH: The Bank of Canada’s interest rate decision and accompanying communications are major events for the Canadian dollar. Changes in interest rates directly impact borrowing costs and influence economic activity. The policy report and press conference provide further context and insights into the central bank’s outlook. January 29, 2025, 19:00:00 – Fed Interest Rate Decision/Monetary Policy Statement/FOMC Press Conference (USD) – HIGH: The Federal Reserve’s interest rate decision is arguably the most important economic event globally. Changes in US interest rates have far-reaching effects on global financial markets, capital flows, and exchange rates. The accompanying statement and press conference provide crucial insights into the Fed’s economic outlook and future policy direction. January 30, 2025, 09:00:00 – Gross Domestic Product (GDP) (EUR) – HIGH: GDP is the broadest measure of economic activity. This release provides a comprehensive look at the Eurozone’s economic performance and is a key indicator of economic health. January 30, 2025, 10:00:00 – Gross Domestic Product s.a. (QoQ/YoY) (EUR) – HIGH: Similar to the previous GDP release, this one offers seasonally adjusted figures, providing another key insight into Eurozone economic performance. January 30, 2025, 13:15:00 – ECB Main Refinancing Operations Rate/Monetary Policy Statement/Rate on Deposit Facility (EUR) – HIGH: The ECB’s interest rate decision and accompanying statement are crucial for the Eurozone. Like the Fed’s decision, it has a significant impact on financial markets and the Euro. January 30, 2025, 13:30:00 – Gross Domestic Product Annualized (USD) – HIGH: The US GDP release provides a comprehensive measure of the US economy’s performance. It’s a key indicator for investors, businesses, and policymakers   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.

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Ledger co-founder kidnapped, released after ransom demand

David Balland, a co-founder of French cryptocurrency firm Ledger, and his partner have been safely freed after being kidnapped and held for ransom. The Paris prosecutor’s office confirmed that Balland was abducted early Tuesday from his home in central France and taken to another location. The kidnappers demanded a “large ransom in cryptocurrency,” though authorities did not disclose the exact amount or if it was paid. Balland was released on Wednesday, receiving medical attention from emergency services. His partner was later freed by GIGN, France’s elite tactical police unit. No arrests have been reported, and further details about the operation remain undisclosed. The case has drawn attention to Ledger, a leading producer of hardware wallets for storing crypto assets. Founded in 2014, the company is valued at $1.5 billion after a 2021 funding round. The incident also highlights ongoing concerns about organized crime and the misuse of cryptocurrency in illicit activities. France has seen a rise in high-profile criminal acts, including last year’s dramatic prison van ambush that freed a convicted drug boss. In November, the body of Canadians crypto influencer Kevin Mirshahi was discovered at Île-de-la-Visitation park in Montreal, following his abduction from a condo in June. Mirshahi’s death is not the only recent crypto-linked abduction in Canada. A weak earlier, WonderFi CEO Dean Skurka was briefly kidnapped in Toronto and released after paying nearly $720,000 in ransom. Canada, like other parts of the world, has recently seen a disturbing trend of violent incidents connected to cryptocurrency. A list maintained by Casa’s Chief Security Officer, Jameson Lopp, documented 18 cryptocurrency-related attacks this year alone, including in-person scams, home invasions, and even murders. Mirshahi was known in Montreal’s crypto community and previously operated a private investment firm, “Crypto Paradise Island.” However, allegations of misconduct surrounded him, with several individuals accusing him of scamming investors. The crypto community has seen several incidents of violence and unexplained deaths over the years. Bitcoin cypherpunk Jameson Lopp advises against conducting peer-to-peer trades with untrusted individuals, showing off wealth on social media, and wearing crypto-branded clothing. He stresses that minimizing criminals’ awareness of one’s crypto involvement can reduce the chances of being targeted.

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