More prop firms shutter, VIX index turns 20

FX, Fintech and cryptocurrency markets have been bustling with activity over the past week, as is often the case. Keep yourself informed and ahead of the curve with a curated selection of crucial stories and developments that are most relevant to those engaged in the markets.

We kick off our tour with a close look at the prop trading industry, highlighting the latest challenges and setbacks that have surfaced.Top of Form

Prop firm The Funded Trader shuts down, claims relaunch in April

Prop trading firm The Funded Trader has ceased all operations, with claims for a relaunch in the near future. Read More

IC Markets steps into prop trading with ICFunded

Sydney-based IC Markets, an online provider of FX services and ECN trading capabilities, is expanding its offerings by preparing to enter the prop trading arena. Read More

Ex-cTrader CCO James Glyde launches prop firm PipFarm

James Glyde, the former chief commercial officer of Spotware Systems, has announced the launch of a new prop trading firm that will depend on the cTrader platform. Read More

ARTEX: MACD connects Swiss banks to world’s first art stock exchange

MACD, a leading Swiss trading connectivity provider, recently enabled Helvetische Bank AG and Incore Bank AG to connect to ARTEX, marking the inception of the world’s first art stock exchange. Read More

UK FCA warns firms they are responsible for ‘finfluencers’ misdeeds on social media

The UK’s Financial Conduct Authority (FCA) has warned firms and influencers involved in financial promotions they should always adhere to lawful advertising practices on social media. Read More

Cboe’s VIX futures product was launched 20 years ago

Launched in 2004, CFE was established to offer a transparent and liquid marketplace for volatility futures, with VIX futures being its inaugural product. Read More

eToro adds 12 new altocoins for exposure to TradFi, DeFi, MEV, EVM, more

eToro has expanded its cryptocurrency offerings by adding 12 new altcoins, thus diversifying the range of emerging ideas and concepts from the digital asset ecosystem. Read More

SWIFT goes crypto with new platform connecting CBDCs

Global bank messaging network SWIFT is planning to launch a new platform within the next one to two years to connect central bank digital currencies (CBDCs) currently under development with the existing financial system. Read More

Let’s now pivot to explore the cryptocurrency market more closely

CFTC sues KuCoin for illegally serving US customers

The Commodity Futures Trading Commission has filed a complaint against KuCoin, claiming multiple violations of the Commodity Exchange Act (CEA) and CFTC regulations. Read More

BitMEX integrates HALO from Solidus Labs for cross-market surveillance

Crypto exchange operator BitMEX has expanded its partnership with RegTech firm Solidus Labs have announced an expansion of their partnership to enhance cross-market surveillance on the trading platform. Read More

Man sues Newport City to recover $525 million in lost bitcoin

A UK computer expert has filed a lawsuit against Newport City Council to gain access to a landfill site where he believes a hard drive containing bitcoins worth $525 million is buried. Read More

Ripple could pay $2 billion fine in SEC’s XRP lawsuit

The Securities and Exchange Commission (SEC) is pressing for a near $2 billion fine against Ripple Labs, urging a New York court to assess the “severity” of the company’s alleged misconduct. Read More

KuCoin announces $10 million airdrop as users withdraw $1.2 billion

KuCoin – the fourth-largest crypto exchange in the world by trading volume – today announced plans to distribute $10 million worth of Bitcoin and its native KCS token via an airdrop event. Read More

Sam Bankman-Fried might see his 25-year sentence halved

Despite there being no parole in federal cases, Bankman-Fried could reduce his sentence to as low as 12.5 years through the First Step Act, which allows for sentence reduction for nonviolent federal inmates. Read More