SEC staff FAQ treats a staking receipt as a digital tool
Staff FAQs dated September 28, 2026 treat a staking receipt as a digital tool, or a digital commodity from a protocol provider. They are not a Commission rule.
The Industry Spread
FundingTicks review: refunds, an 80% split, and a halted book
FundingTicks has halted trading. The homepage still sets full refunds, an 80% or 20% split, and support until 31 January, and the rewards total is not audited.
USD/SEK
10.15by November 4, 2026
Wrong below9.78
Spot at filing10.0455
USD/SEK to 10.15 by November 4 on the rate-gap path
CAD/JPY
109.78by October 30, 2026
Wrong above113.48
Spot at filing111.258
CAD/JPY slips to 109.78 into the October 30 outlook
EUR/AUD
1.6095by November 3, 2026
Wrong above1.6438
Spot at filing1.6260
EUR/AUD to 1.6095 by the November 3 RBA decision
US 10-year Treasury yield
5.00%by 28 October 2026
Wrong above5.40%
Spot at filing5.24%
US 10-year yield to 5.00% by October 28 as Fed hikes flatten the curve
Levels as stated when filed. Not live prices. Analysis, not investment advice.
MAS draft would let it delist a foreign systemic stablecoin
MAS's draft Payment Services Act amendments would let it designate offshore stablecoins as systemic and order Singapore exchanges to delist non-compliant coins.
FCA PS26/18 leaves crypto front-ends waiting on Article 9Z2A
FCA PS26/18 says apps letting users place crypto orders likely need authorisation, while the Article 9Z2A carve-out waits on a Treasury SI the guidance omits.
FINRA Rule 3290 retires the 1994 notice that made brokers supervise outside RIA work
SEC Release 34-106381 approves FINRA Rule 3290, reclassifying unaffiliated RIA work as an outside activity and retiring NASD supervision guidance from 1994.
FirmWhat we foundFiled
HypernovaSimulated fills and three payout clocks30 SepInvestabl10-second median, 24-hour exceptions30 SepSharkFunded24-hour claim, 24–48 hour rules30 Sep100X ClubThe 6% cap on your first two payouts29 SepthePropTradeThe Saint Lucia name, the Dubai contract29 SepPipstone Capital90% on the homepage, 80/20 in the terms29 SepPropaniumThe Smart Exit that cuts a 90% split to 60%29 SepOneStopProp“100% refundable” on plans its FAQ never refunds28 SepLegionFundingA Trustpilot profile older than the company28 SepFlagship FundedThe 100% split needs a score of 4.76 out of 528 SepPaid To TradeA-book on the sales page, demo in the contract28 SepQuantum FundingThe homepage FAQ is still Lorem ipsum26 Sep
About these reviews. The Industry Spread reviews prop firms independently. Firms do not pay for reviews and cannot see them before publication. The Industry Spread has no affiliate or referral relationship with the firms covered.
Reviews by Abdelaziz Fathi
FundingTicks review: refunds, an 80% split, and a halted book
FundingTicks is a closed book, not a challenge to buy. On 1 October 2026 the homepage was still a wind-down letter: trading halted, active evaluation and Master accounts refunded in full, an 80% split only if objectives were met, and 20% if there was profit but the objectives were not. It does not suit anyone who needs a login or a new evaluation. The caveat is that support is dated only to 31 January, with no year, and the old rule pages now stop at a sign-in wall.
SEBI and RBI open a Demat 2.0 tokenised bond pilot
SEBI and the RBI opened Demat 2.0 on September 10, 2026: tokenised corporate bonds stay on the depository register and settle in the wholesale digital rupee.
VT Markets takes best gold trading platform at FinanceFeeds Awards
VT Markets has won Best Gold Trading Platform at the FinanceFeeds Awards 2026, capping a January in which it reported $1.5 trillion in gold turnover.
Axcera Takes Three FinanceFeeds Awards for Prop Tech
Axcera has won three FinanceFeeds Awards 2026 across prop trading technology, infrastructure and multi-asset solutions.
The Broker Back Office Becomes One Data Layer
The constraint on most brokerages is not strategy but infrastructure that cannot pass data between functions.
Abdelaziz Fathi
Abdelaziz Fathi covers the intersection of forex/CFD brokerage, regulation, liquidity, fintech, and digital assets.
Rick Steves
Rick Steves has seen business and economics through many lenses.
Karthik Subramanian
Karthik Subramanian is a founder, writer, and technology consultant with nine years in the crypto ecosystem.
Also filed
From the archive
Filed around 1 October in 2025, 2023, 2022 and 20212025
2023
