Let’s take a look back at top stories that dominated the financial markets in our Weekly Round coverage. This week’s digest takes a deep dive into the most recent events and trends within the Forex, Fintech, and cryptocurrency.
FX Market
RAKBANK taps Bitpanda for digital asset infrastructure in MENA region
The National Bank of Ras Al Khaimah (RAKBANK), a major UAE bank that has been leading in the digital assets sector, has tapped Bitpanda Technology Solutions (BTS) to provide a robust platform for managing digital assets in the United Arab Emirates. Read More
NFA fines Ikigai Strategic and Anthony Emtman $150,000
The National Futures Association has ordered Ikigai Strategic Partners LLC and its principal Anthony Robert Emtman to jointly pay a $150,000 fine. Read More
Switzerland goes live with instant payments
SIX and the Swiss National Bank are celebrating the go-live of the new generation of the Swiss payment system, known as SIC5. Read More
The Funded Trader claims 30% of trader payouts cleared
Prop trading firm The Funded Trader today said it is still working to get its business back on track and has made some headway with payouts. Read More
MultiBank reports 10% more revenue, 26% more net income
MultiBank Group has reported revenue of $306,636,717 in 2023, based on the latest audited financial statements which point to a 10% revenue increase, growing from $279,523,140 in 2022. Read More
Plus500 posts solid H1 2024, boosts shareholder returns by $185.5 million
Israeli-based, but London-stock market listed Plus500 Ltd (LON:PLUS) today reported financial and operational metrics for the first half of 2024, highlighting higher revenues and EBITDA despite lower market activity towards the end of the period. Read More
Crypto Markets
Justin Sun scores partial victory in SEC ongoing lawsuit
A federal judge has denied a request from the U.S. Securities and Exchange Commission (SEC) in its ongoing securities fraud lawsuit against the Tron Foundation and its founder, Justin Sun. Read More
Australia court deems Kraken’s “margin extensions” a credit facility
A Federal Court in Australia has ruled that Bit Trade Pty Ltd failed to comply with design and distribution obligations when offering a margin trading product to Australian customers. Read More
Tether to launch dirham-pegged stablecoin in UAE
Tether, the developer behind the world’s largest stablecoin, plans to introduce a new token pegged to the United Arab Emirates dirham (AED) in collaboration with Abu Dhabi-listed crypto conglomerate Phoenix Group and Green Acorn Investments. Read More
McDonald’s Instagram hacked to promote memecoin GRIMACE
McDonald’s Instagram account was reportedly compromised to promote a Solana-based memecoin called GRIMACE. The token quickly surged to a market capitalization of around $20 million before plummeting to below $1 million, according to pump.fun data. Read More
Grayscale adds Avalanche Trust to crypto product lineup
Grayscale Investments has just rolled out a new fund for Avalanche’s native token, AVAX, adding to its expanding lineup of digital asset investment products. Read More
Binance founder CZ leaves US prison ahead of release
Binance former CEO Changpeng “CZ” Zhao has been moved to an administrative facility in the Greater Los Angeles area, just 38 days before his scheduled release from custody. Read More
OmegaPro founder arrested in Turkey over $4 billion Ponzi scheme
Andreas Szakacs, a co-founder of the cryptocurrency platform OmegaPro, was arrested in Turkey last month for his alleged involvement in a $4 billion Ponzi scheme. Read More
Sony launches its own Ethereum blockchain, Soneium
Japan’s multi-industry conglomerate Sony Group is venturing into the blockchain space with the launch of its own network. Read More
