Weekly Roundup: My Forex Funds hits back at CFTC, Saudis blocked from FTX sale
Welcome to this week’s roundup, where we delve into the latest developments in the Forex, Fintech, and cryptocurrency markets. Stay ahead of the curve with our comprehensive overview of the week’s most impactful events and trends across these dynamic sectors.
FX News Digest
From CFDs to the future: Expert insights on Europe’s brokerage industry evolution
The European financial market is on the cusp of a significant transformation, influenced by regulatory pressures and a growing demand for more diversified and transparent trading options. Read More
From Backtesting to Arbitrage: Practical Applications of AI in the World of Retail Trading
Shawn Carpenter, the Chairman and CEO of StockAlarm, analogizes AI in trading to self-driving technology. Josh Kincaid, CMO at ToroAlerts, critically examines AI’s evolving role. Anthony Cammarano, a seasoned expert in cybersecurity, discusses AI’s implications for data security within trading strategies. Read More
My Forex Funds goes against CFTC as industry fears ‘ex parte’ abuse by regulators
Traders Global Group Inc., the firm behind the proprietary trading firm brand My Forex Funds (MFF) which was recently sued by the CFTC for an alleged $310 million fraud, has filed a motion for sanctions against the CFTC, accusing the regulatory body of a pattern of misconduct. Read More
NAGA founder Ben Bilski steps down following Capex.com acquisition
Ben Bilski, German tech entrepreneur and founder of NAGA Group, has parted ways with the company, stepping down from his executive role as Chief Information Officer. Read More
TP ICAP acquires New Zealand broker Aotearoa Energy
TP ICAP, the world’s largest inter-dealer broker, announced on Tuesday it has acquired Aotearoa Energy, a New Zealand-based gas, power, and carbon brokerage firm. Read More
SEC sues Delphia and Global Predictions out of $400,000 for “AI washing”
The Securities and Exchange Commission has sued Delphia (USA) Inc. and Global Predictions Inc. for making false and misleading statements about their purported use of artificial intelligence (AI). Read More
Finalto doubles down on APAC region with oneZero curated liquidity from Tokyo
Finalto Asia and oneZero have expanded their collaboration to enhance liquidity services for their trading clients in the Asia-Pacific area. Read More
FINRA fines M1 Finance $850,000 for misleading ‘finfluencer’ activities
The Financial Industry Regulatory Authority (FINRA) has imposed a fine of $850,000 on M1 Finance LLC for violations concerning its use of a social media influencer program. Read More
FX Markets Overview
Binance to reward tipsters amid BOME insider trading claims
Binance has responded to concerns over a suspiciously large transaction involving the recently listed memecoin, Book of Meme (BOME), by clarifying that the transaction was not linked to any of its staff. Read More
Saudi and UAE investors blocked from FTX’s Anthropic stake sale
Artificial intelligence startup Anthropic is reportedly navigating the sale of an 8% stake previously owned by the now-defunct crypto exchange FTX. However, the competitor to OpenAI wants to exclude investors from Saudi Arabia due to national security concerns. Read More
ASIC Commissioner Alan Kirkland shows the way to crypto and digital asset regulation
ASIC Commissioner Alan Kirkland has detailed the Australian Securities and Investments Commission’s (ASIC) strategies on crypto and digital assets, focusing on policy, regulation, and fostering innovation. Read More
GCEX incorporates new margin trading platform into plug-and-play white-label package
GCEX has released an upgraded version of its margin trading platform, XplorTrader, to address the demands of institutional and professional traders who were requesting more flexibility and control for enhanced operational efficiency. Read More
FTX claim value soars to 92%, creditor sued for reneging on $58M deal
The lawsuit stems from Lemma’s alleged retraction of an agreement to sell two FTX accounts, valued at $166 million at the time of FTX’s collapse, to Attestor. Read More
Robinhood expands cryptocurrency wallet to Android users
Robinhood has launched its cryptocurrency wallet for Android users, following a year after the wallet was made available to iOS users globally. Read More
Changpeng Zhao is back with new project post-Binance era
Zhao, who stepped down from his role at Binance in November 2023 following a plea deal with the U.S. Department of Justice, shared on X that this project would focus on education without introducing new tokens. More details are expected to be announced soon. Read More
