Weekly Roundup: My Forex Funds hits back at CFTC, Saudis blocked from FTX sale

abdelaziz Fathi

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

Read this next

Education, Inside View

The Power of Public Relations in Finance: Shaping Perceptions & Building Reputation

It’s safe to say that the finance industry has faced its share of reputation crises over the years, from the 2008 financial collapse to the many scandals around irresponsible lending, political corruption, and even Ponzi schemes. 

Digital Assets

Crossover’s crypto ECN executed over $3 billion in Q1 2024

“Our growth is also driving continued increases in the percentages of trades that are ‘Order Crossing Order’ (OXO). Currently, roughly 10% of all trades executed on CROSSx are OXO, another differentiator in our platform’s capacity. This capacity and our unique execution model provide value to both the market maker and taker, as evidenced by our commercial model.”


BlockDAG’s Explosive Presale Hits $20.3M In April Swaying Investors From XRP’s Price Trends Upward, & Polygon’s NFT Market

Learn about BlockDAG’s impressive $20.3M presale results, XRP’s price increase prospects, and the booming NFT market on Polygon among the top 10 cryptocurrencies.

Retail FX

Financial Commission warns of Eplanet Brokers

The Financial Commission, a self-regulatory compliance specialist for the financial services industry, is ramping up its scrutiny of unregulated brokerage firms. Today, the independent association warned against a company called Eplanet Brokers.

Retail FX

Dubai crypto exchange steps into prop trading

Dubai-based cryptocurrency trading platform, CoinW Exchange, marked its sixth anniversary by announcing a rebranding initiative and launching a proprietary trading product.


Bitcoin payments app Strike launches in Europe

Bitcoin blockchain-based payments app Strike launched in Europe on Wednesday, allowing users in the region to buy, sell, and withdraw bitcoin (BTC).


Bandit Network’s Points SDK and Brave Ads Power Astar zkEVM’s Quest Platform “Yoki Origins”

“Yoki Origins,” supported by Bandit Network and Brave Ads, introduces a gamified and rewarding experience for Astar zkEVM users, marking a significant milestone in Web3 adoption.

Digital Assets

Crypto ETFs to debut in Hong Kong next week

Hong Kong has authorized six cryptocurrency-based spot ETFs set to launch on April 30, according to Bloomberg.


BlockDAG Among The Best New Crypto To Invest In Post 8 Billion Coins Sales; More On Bitcoin Cash Futures’ Launch & Solana Positive Predictions

Explore Solana’s ATH predictions to see whether it can rise after a $17B dip? BlockDAG sells 8 billion coins in presale as Bitcoin Cash Futures launch.