November 16 Crypto News – Capital.com Restructures Leadership: Focus Shifts to Regional Growth
November 16 Crypto News – In a significant move within the FX market, ACY Securities has announced the acquisition of Ingot Brokers South Africa, a regulated entity under the Financial Sector Conduct Authority (FSCA). This acquisition solidifies ACY Securities‘ position as a key player in the South African market and enhances its presence globally.
Capital.com Restructures Leadership with Regional Focus
In a leadership shake-up, Capital.com, a prominent online brokerage, has parted ways with its global CEO Kypros Zoumidou. The company is restructuring its leadership team to focus on regional growth, with local CEOs now appointed to oversee its main markets. This change is expected to bring more localized decision-making and better serve Capital.com’s expanding customer base.
SIX Group AG to Acquire Aquis Exchange for £207 Million
In another high-profile acquisition, SIX Group AG has agreed to acquire Aquis Exchange Plc for a cash offer valued at £207 million. The deal sets Aquis at 727 pence per share, giving it an enterprise value of approximately £194 million. This acquisition strengthens SIX Group’s position in the global trading infrastructure space, expanding its offerings in the trading and execution services sector.
AMP Global Excluded from CySEC Investor Compensation Scheme
The Cyprus Securities and Exchange Commission (CySEC) has made headlines by excluding AMP Global, an FX brokerage firm, from its investor compensation fund. This decision comes after regulatory scrutiny of the firm’s operations, leaving clients in the affected region with limited recourse for claims.
AxiCorp and Bell Financial Compete for SelfWealth Acquisition
The battle for the Australian SelfWealth trading platform is intensifying as AxiCorp Financial Services has raised its bid to 23 cents per share, surpassing Bell Financial Group‘s offer of 22 cents per share. This competition underscores the growing interest in the Australian retail trading market.
Andrew Biggs Appointed CEO of Finalto Trading
In other leadership news, Finalto, a provider of trading software and liquidity services, has appointed Andrew Biggs as the new CEO of Finalto Trading. Biggs, who steps into the role immediately, will be tasked with driving further innovation and expanding the company’s global reach in the trading space.
Crypto & Fintech Markets: Major Developments and Funding News
Germany and the US Miss Out on Billions by Selling Seized Bitcoin Early
In an astonishing revelation, the German government may have missed out on up to $1.6 billion in profits by selling 50,000 Bitcoin in July 2024, just months before a massive rally fueled by the recent US presidential election. This missed opportunity highlights the volatility and potential rewards of holding digital assets during key geopolitical events.
Italy to Lower Crypto Capital Gains Tax to 28%
In a move to bolster the country’s crypto industry, the Italian government is reportedly revising its initial proposal to increase capital gains tax on cryptocurrencies, opting instead to lower the tax rate to 28% from the previously considered 42%. This potential tax reform could make Italy more attractive to both retail and institutional crypto investors.
Robinhood Reports Record October Volumes: Equity Up 149%, Crypto Up 143%
In the Fintech sector, Robinhood Markets has posted impressive October 2024 operating data, showing a 149% increase in equity trading volumes and a 143% surge in crypto trading. This growth reflects a broader trend of increased engagement in both traditional and digital asset markets, with Robinhood continuing to cater to a growing base of retail traders.
PayPal USD Now Can Move Between Ethereum and Solana
PayPal has made another significant move in the crypto space, enabling its PayPal USD (PYUSD) stablecoin to seamlessly move between the Ethereum (ETH) and Solana (SOL) blockchains. This integration, powered by LayerZero technology, provides PayPal users with greater flexibility in transacting across two of the most popular blockchain networks.
Three Arrows Capital Seeks $1.53 Billion Claim Against FTX
The liquidators of the collapsed hedge fund Three Arrows Capital (3AC) have filed a motion to amend their claim against FTX, increasing the amount from $120 million to $1.53 billion. This claim comes in the wake of FTX’s 2022 collapse and highlights the ongoing legal battles faced by crypto firms involved in the fall of the exchange.
MoonPay Turns Non-Custodial Wallets into Primary Bank Accounts
MoonPay, a prominent crypto payment solutions provider, has announced a groundbreaking payment solution that transforms non-custodial crypto wallets into primary bank accounts. This move is expected to enhance the usability of decentralized finance (DeFi) and bridge the gap between traditional finance and the growing crypto ecosystem.
Kevin Mirshahi, Crypto Influencer, Found Dead in Montreal Park
The body of Kevin Mirshahi, a Canadian crypto influencer, was discovered in Île-de-la-Visitation park in Montreal. His death follows an abduction earlier in June 2024, and authorities are investigating the incident. This tragic event has sparked discussions within the crypto community about the safety and security of individuals in the space.
Bitfinex Hacker Ilya Lichtenstein Sentenced to Five Years for 2016 Crypto Heist
In legal news, Ilya “Dutch” Lichtenstein, the mastermind behind the 2016 Bitfinex hack, has been sentenced to five years in prison for his role in the crime and subsequent money laundering activities. The Bitfinex hack remains one of the most notorious in crypto history, with stolen funds valued at over $70 million.
Notabene Secures $14.5 Million to Expand Crypto Compliance Business
Notabene, a leading crypto compliance firm, has raised $14.5 million in a Series B funding round. The round was led by DRW VC, with participation from Apollo, Nextblock, and Wintermute. The funds will be used to expand the company’s services in the growing field of crypto regulations and compliance.
Sygnum Bank Survey Reveals 63% of Investors Have High-Risk Appetite
In a recent survey conducted by Sygnum Bank, 63% of respondents reported having a high-risk appetite, up from the previous year. This finding comes as the bank continues to provide services to institutional and high-net-worth crypto investors seeking exposure to digital assets.
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