The FX, Fintech, and cryptocurrency markets have been buzzing with action this past week, as usual. Stay in the loop and ahead of the game with a handpicked collection of top updates and stories.
FX Market
SEC accuses activist short-seller Andrew Left of ‘bait-and-switch’ tactics
The Securities and Exchange Commission has charged activist short seller Andrew Left and his firm, Citron Capital LLC, with engaging in a $20 million multi-year scheme to defraud followers by publishing false and misleading statements regarding his supposed stock trading recommendations. Read More
ASIC wins first greenwashing case, Mercer to pay $11.3 million
The Australian Securities and Investments Commission has won its case against Mercer over the firm’s greenwashing. Read More
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Finteum readies DLT-powered intraday FX swaps and repos
UBS and CIBC have settled the world’s first intraday FX swap to be executed on a regulated venue, said Finteum which is creating a global financial market for intraday FX swaps on distributed ledger technology (DLT). Read More
ASIC extends AFSL exemption for foreign firms’ wholesale business to 2026
The Australian Securities and Investments Commission has extended for a further 12 months the transitional relief for foreign financial services providers (FFSPs) from the requirement to hold an Australian financial services (AFS) license when providing financial services to Australian wholesale clients. Read More
Abraham Shafi Faces SEC Lawsuit Over Alleged $170 Million Fraud Against SoftBank
The Securities and Exchange Commission has charged Abraham Shafi, the founder and former CEO of Get Together Inc., a privately held social media startup known as “IRL,” with defrauding investors, including SoftBank. Read More
ESMA to tackle EU-authorized crypto brokers using non-EU execution venues
The European Securities and Markets Authority (ESMA) has published an opinion on global crypto firms using non-EU execution venues. Read More
Warsaw Stock Exchange to roll out new trading system in 2025
The Warsaw Stock Exchange (GPW) plans to roll out its new trading system, WATS, on 10 November 2025. Read More
Trading industry subjected to $1.54 billion in regulatory fines so far this year: Corlytics report
Corlytics’ Q2 Global Regulations Enforcement Data report indicates an eye-watering $1.54bn in regulatory fines so far this year, and $47.04 billion USD since 2020. Read More
Cryptocurrency Market
Morgan Stanley now sells bitcoin ETFs to aggressive clients
Morgan Stanley will allow its financial advisors to offer Bitcoin exchange-traded funds (ETFs) to certain clients, the first among major Wall Street banks. Read More
Ripple to tokenize U.S. bonds on XRP Ledger
Ripple has announced a $10 million investment in tokenized U.S. Treasury bills (T-bills) on the XRP Ledger, marking the first time these financial instruments will be available on the blockchain platform. Read More
SEC withdraws request to classify Binance tokens as securities
The US securities regulator has retracted its request for a court ruling to classify specific tokens named in its lawsuit against the cryptocurrency exchange Binance as securities. Read More
Telegram’s Hamster Kombat draws 300M players ahead of historic airdrop
Telegram clicker game Hamster Kombat has attracted over 300 million players within five months of its launch in March 2024. Read More
U.S. gov to auction $2 billion in confiscated Bitcoin from Silk Road
The U.S. government moved $2 billion worth of seized Bitcoin on Monday, causing a massive drop in Bitcoin prices and raising investor concerns. Read More
Kraken MTF joins Copper’s ClearLoop to bypass blockchain fees
Kraken has partnered with Copper to provide off-venue settlement for institutional clients, the UK FCA-authorised crypto derivatives trading venue announced. Read More
XRP price rises following SEC’s amended lawsuit against Binance
Trading volume in XRP surpassed that of bitcoin on South Korean crypto exchanges this week, contributing to the token’s 7% rise over the past 24 hours. Read More
ByBit exits France as regulators tighten grip
Cryptocurrency exchange ByBit announced that it will halt operations in France and restrict account features for French users due to recent regulatory developments by France’s financial regulator. Read More
One Trading becomes first regulated crypto derivatives exchange for retail users in Europe
One Trading has secured an Organised Trading Facility (OTF) License by the Dutch financial market regulator. Read More
OKX launches highly risky Pre-Market Futures
OKX has launched Pre-Market Futures, which allows customers to trade futures contracts with up to 2x leverage for upcoming tokens before a Token Generation Event (TGE), token public sale or Initial Coin/Exchange Offering (ICO/IEO). Read More
