Crypto Shorts, Robinhood Income, Plus500 H1, XRP Market Cap: Editor’s Decide

In a quieter week for information, let’s check out the information tales that dominated the worlds of foreign exchange, fintech and crypto in our greatest of the week section.

$160 Million Value of Crypto Shorts Liquidated within the Final 24 Hours

The buying and selling week kicked off with the information that the entire market cap of crypto property crossed the extent of $2 trillion on Sunday after a robust rally in altcoins.

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Nearly $160 million value of brief crypto buying and selling positions have been liquidated within the earlier 24 hours. Roughly $55 million value of brief Bitcoin buying and selling positions have been liquidated together with $40 million value of brief Ethereum positions.

The biggest single liquidation order occurred on crypto change bybit with a complete worth of practically $5.85 million.

Learn extra on the Crypto shorts right here.

Robinhood Q2 Income Jumps 131% with $233M from Crypto Buying and selling

Robinhood (NASDAQ: HOOD) reported its complete web income of $565 million for the second quarter of 2021, a serious chunk of which got here from cryptocurrency buying and selling. Filed on Wednesday, it was its first earnings report as a public firm.

The general income of the corporate jumped by 131 % between April and June from the figures reported for the earlier quarter. Transaction-based income of the retail buying and selling dealer got here in at $451 million within the interval, in comparison with $187 million generated within the first quarter of the yr.

Although the choices and equities transaction worth climbed by 48 % and 28 %, respectively, cryptocurrency buying and selling introduced in $233 million, which is greater than half of the transaction-based income. In Q1, the share of cryptocurrency income was solely at 17 %.

Learn extra on the Robinhood Q2 Income right here.

Grayscale Now Has $10 Billion Value of Ethereum below Administration

Grayscale, one of many largest digital asset managers, this week printed an replace concerning the entire worth of the corporate’s cryptocurrency property below administration (AUM). The New York-based agency now has greater than 3 million Ethereum with a complete worth of over $10 billion.

the general worth of its cryptocurrency AUM (together with Ethereum property) reached $41.4 billion on 13 August 2021, which is sort of 25% increased in comparison with $33 billion on 28 July 2021. The corporate began this yr with roughly $20 billion value of digital property below administration.

Learn extra on Grayscale’s Ethereum holdings right here.

FXDD Guardian Studies Marginal Acquire in Q2 Income, Ends in Loss

Nukkleus Inc, which controls FXDD Buying and selling and FXMarkets manufacturers, has printed its financials with the US securities regulator for the April-June quarter, reporting a web lack of $100,538 from its enterprise. In the same quarter of the prior yr, the corporate turned a revenue of $11,492.

Its losses for the interval of the primary 9 months of the 2021 monetary yr deepened to $154,084 in comparison with a lack of $97,659 for the same interval within the prior yr.

When it comes to income, Nukkleus generated a complete of $4.81 million from its companies, which is a marginal yearly improve of 0.8 %. Its income from normal help companies remained $4.8 million, which is similar to the earlier yr: within the newest quarter, it introduced in a further $41,602 from monetary companies operations, which embody crypto-fiat conversion companies.

Learn extra on FXDD Q2 Income right here.

XRP Market Cap Reaches $60 Billion for the First Time in Three Months

As Finance Magnates reported on Monday, the entire market cap of XRP crossed $60 billion for the primary time since 19 Could 2021.

In response to the newest knowledge printed by Coinmarketcap, XRP remained the best-performing cryptocurrency among the many high 10 within the final seven days with substantial positive aspects of greater than 60%. The world’s sixth largest cryptocurrency is presently buying and selling close to $1.30 with a market cap of roughly $60 billion.

The most recent leap in demand for XRP got here after Ripple, the San Francisco-based blockchain firm, introduced a number of partnerships to extend the usage of RippleNet, the worldwide monetary community of the corporate and XRPL.

Learn extra on the XRP Market Cap right here.

Plus500 Ends H1 with $165M Internet Earnings, Sides $12.5M for Share Buyback

London-listed Plus500 (LON: PLUS) has printed its interim financials revealing its enterprise efficiency for the second quarter of 2021 and is consolidating them to characterize the half-yearly outcomes. Although the income and earnings look to be lowering from the height achieved final yr, they nonetheless stood considerably stronger than the pre-pandemic ranges.

In response to the newest submitting, Plus500 ended Q2 with an EBITDA of $65.9 million. For H1 of FY21, this determine got here in at $187.6 million, in comparison with a document $361.8 million in H1 of 2020 and $154.1 million in H2 of 2020.

Learn extra on the Plus500 H1 right here.

Africa – The Land of Future Alternatives?

Within the shadow of Europe and Australia, slowly however step by step Africa is increasing its place within the FX/CFD map of the world. Whereas nonetheless poor and never regulated sufficient, it attracts increasingly brokers and serves the rising variety of new retail merchants. Is Africa a land of rising alternatives for the trade?

In a Finance Magnates evaluation, we checked out why increasingly brokers are turning their consideration to Africa.

Learn extra on Africa FX alternatives right here.

eToro Turns into Accomplice of German Soccer Membership RB Leipzig

eToro, the main social funding community, introduced on Wednesday that the German soccer membership, RB Leipzig has turn out to be its official companion.

In response to the announcement through the Twitter accounts of each events, the two-year partnership will run till 2023.

Learn extra on the eToro RB Leipzig sponsorship right here.

CLSA Premium Ends H1 2021 with $3.8 Million Loss

Hong Kong-headquartered CLSA Premium Restricted (HKG:6877), a overseas change (foreign exchange) dealer, has printed its half-yearly financials for the primary six months of 2021, ending on June 30. It reported a major drop in its enterprise, leading to deepening its losses additional.

In response to the unaudited figures, the dealer generated complete income of HK$3.8 million (round $488,300) within the six-month interval, which is a 42 % decline from the earlier yr.

Learn extra on the CLSA Financials right here.


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