This week in FX markets, Andreas Andreou co-founded thePropTrade, while Santander expanded U.S. operations with Openbank. Interactive Brokers settled a $475,000 fine for securities lending violations, and FINRA fined ViewTrade over supervisory issues.
In crypto, Binance leveraged Telegram’s user base with Web3 games, and Ripple heightened its legal battle with the SEC over XRP’s classification. Tesla moved a major Bitcoin wallet, and a crypto theft from U.S. government wallets highlighted security concerns. Coinbase promoted in Canadian football
FX Markets
BDSwiss alumni Andreas Andreou launches thePropTrade
Andreas Andreou, who has a lengthy career spanning over two decades in the FX industry, has co-founded a new prop trading firm under the brand name thePropTrade.com, where he also serves as Co-CEO. Read More
Santander launches digital bank Openbank in the U.S.
Spain’s Santander has launched its digital bank, Openbank, in the U.S. with plans to fund up to $30 billion in vehicle loans and expand its retail business. Read More
Interactive Brokers resolves securities lending issue with $475,000 settlement
Interactive Brokers LLC has agreed to pay a $475,000 fine to settle violations related to its fully paid securities lending program. The settlement comes as part of a Letter of Acceptance, Waiver, and Consent (AWC) submitted to the Financial Industry Regulatory Authority. Read More
FINRA fines ViewTrade $40,000 for failing to supervise outside brokerage accounts
FINRA has fined ViewTrade Securities, Inc. $40,000 following an investigation that revealed significant supervisory lapses. Read More
Mintos taps Upvest’s Investment API for ETF trading across Europe
Mintos has selected Upvest’s investment infrastructure to enhance the operational efficiency of its existing fractional ETF investing offering. Read More
Interactive Brokers and private equity firms eye Saxo Bank acquisition
Interactive Brokers (NASDAQ: IBKR), along with a consortium led by Altor Equity Partners and Centerbridge Partners, are interested in acquiring Saxo Bank A/S. Read More
Prop Trading: Tech providers step up as industry adapts post-MetaTrader (Part 3)
The prop trading sector is clearly going through a period of rapid change. As firms grapple with platform dependency and tighter regulation, new business models are emerging. Read More
Robinhood launches margin investing in the United Kingdom
Robinhood has announced the launch of margin investing in the United Kingdom, thus allowing customers to borrow money from the neobroker, leveraging their existing holdings to purchase additional securities in order to expand and diversify their portfolio. Read More
Swissquote expands offering with fractional shares and “Saving Plan”
Swissquote has launched two key initiatives to make investing more accessible: fractional shares trading and an automated Saving Plan. Read More
OptAxe secures UK FCA license to centralize distribution of FX options axes
OptAxe has secured authorization from the UK Financial Conduct Authority to operate a multilateral trading facility (MTF) for axe-driven FX options trading. Read More
Crypto Markets
Binance lures Telegram’s billion users with Web3 games
Notcoin founder Sasha Plotvinov believes the surge of blockchain games on Telegram is fueled by the platform’s ability to bring in new users at a much lower cost than traditional approaches. Read More
Tesla’s $780M Bitcoin transfer tied to audit, not plans to sell
Tesla recently shifted almost its entire Bitcoin stash, worth around $780 million, into new wallets, causing a ripple of concern in the crypto market. Read More
Ripple CEO Garlinghouse ousted from Citigroup over crypto ties
Ripple CEO Brad Garlinghouse revealed that he has been personally severed from his longtime banking relationship with Citigroup because of his role in the crypto industry. Read More
Polymarket identifies French trader behind $28M pro-Trump bets
Polymarket has identified a French citizen as the individual responsible for $28 million in pro-Trump trading positions ahead of the 2024 U.S. presidential election. Read More
$20 million in seized crypto stolen from U.S. government wallets
Roughly $20 million worth of cryptocurrency seized by the U.S. government has reportedly been stolen, according to Arkham Intelligence. Read More
Ripple appeals to contest SEC ruling over XRP classification
Ripple Labs submitted its Form C to the appeals court on Thursday, escalating its legal battle with the U.S. Securities and Exchange Commission (SEC). Read More
Coinbase waves at Canadian Football League fans with $25 in Bitcoin
Coinbase is sponsoring the Canadian Football League (CFL) and the 111th Grey Cup as the new official crypto partner. Read More
OKX adds ‘Smart Sync’ to its Spot Copy Trading
OKX has introduced a new ‘Smart Sync’ feature to its Spot Copy Trading tool to enable eligible customers to effortlessly mirror a lead trader’s entire spot portfolio with just one click. Read More
