Weekly Roundup: My Forex Funds To Win CFTC Case, Sony To Launch Crypto Exchange

Weekly Roundup: My Forex Funds To Win CFTC Case, Sony To Launch Crypto Exchange

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

Surge in new hedge funds as assets hit record $4.3 trillion

The estimated number of new hedge fund launches in 1Q24 surged to 146, an increase of 70 percent from the prior quarter and the highest level since 1Q22, according to the HFR report. Read More

ViewTrade enters Australia to help superannuation industry save $160 million

ViewTrade has entered Australia in an effort to further expand its trading solutions in the APAC region. Read More

Revolut reports record pretax profit of £438 million in 2023

UK-based Fintech giant Revolut has reported a record pretax profit of £438 million ($553.81 million) in 2023, driven by user growth and a rise in interest-related income. Read More

Robinhood taps Bitstamp to offer crypto futures in US and Europe

Robinhood Markets is planning to offer cryptocurrency futures to its customers in the U.S. and Europe later this year. Read More

DXtrade adds Pelican’s copy trading to white label for FX, CFD, Crypto brokers

DXtrade, the trading platform powering both big-name and start-up FX, CFD, and crypto brokers, has partnered with Pelican Trading to add a copy trading service to its B2B trading solutions. Read More

CFTC may lose case against My Forex Funds due to regulator’s misconduct

CFTC Commissioner Caroline D. Pham has finally come forward regarding the CFTC v. Traders Global Group lawsuit, which alleges that My Forex Funds (MFF) practiced fraud. Read More

Crypto Market

Bybit Poland offers zero fees with BLIK on One-Click Buy and Fiat Deposits

Bybit has partnered with BLIK to enable zero-fee transactions for the Polish client base that used that payment method for both One-Click Buy and Fiat Deposits. Read More

European regulator issues ‘Travel Rule’ guidance for crypto

The European Banking Authority (EBA) has issued guidelines on the ‘Travel Rule’ – the information that should accompany transfers of funds and certain crypto assets- which is designed to tackle the abuse of such transfers for money laundering and terrorist financing purposes. Read More

Sony to launch cryptocurrency exchange subsidiary S.BLOX Co.

Japan’s multi-industry conglomerate Sony is set to launch a cryptocurrency exchange subsidiary by revamping the local trading platform WhaleFin, which it acquired last year. Read More

India’s CoinDCX acquires Dubai-based crypto exchange BitOasis

India’s largest cryptocurrency exchange, CoinDCX, has acquired Dubai-headquartered digital asset trading platform BitOasis, marking the first step in its international expansion plans. Read More

Coinbase builds on SEC v. Binance ruling momentum

Coinbase is leveraging the momentum from Judge Amy Berman Jackson’s ruling in the SEC v. Binance case. Read More

Bitstamp to pay Mt Gox creditors in 60 days, Kraken in 3 months

Creditors of the defunct Mt Gox crypto exchange may have to wait up to three months to receive their bitcoin or bitcoin cash repayments, depending on the crypto exchanges through which they made their claims. Read More

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