As the primary week of November attracts to an in depth, listed below are the information tales that dominated the worlds of Foreign exchange, Fintech and Crypto in our greatest of the week phase.
Unique: Has Tradersoft Been Shutdown?
Tradersoft, the net buying and selling know-how platform supplier, has abruptly shuttered all of its companies Finance Magnates has discovered. The shutdown got here in a single day, with none prior discover or warning.
Although the corporate web site continues to be working as traditional with out exhibiting any discover of the shutdown, unconfirmed stories recommend emails have been despatched to prospects informing them of the speedy closure.
The buying and selling know-how supplier was linked to latest police raids.
Learn extra on the Tradersoft shutdown right here.
JPMorgan Renews Its Lengthy-Time period Value Goal of $146,000 per Bitcoin
JPMorgan, the US-based funding financial institution, lately renewed its value goal of $146,000 for Bitcoin amid a leap in institutional adoption.
A report revealed by Enterprise Insider citing JPMorgan’s analysis observe highlights the rising demand for Bitcoin and different digital currencies. “Contemplating how huge the monetary funding into gold is, any such crowding out of gold as an ‘different’ forex implies huge upside for bitcoin over the long run,” Nikolaos Panigirtzoglou, a JPMorgan strategist, stated within the report.
Learn extra on the JPMorgan Bitcoin value prediction right here.
Unique: UK Dealer ZenFinex Applies for Dubai and Seychelles Licenses
In one other Finance Magnates unique, we revealed that UK-headquartered ZenFinex, which gives foreign exchange and CFDs buying and selling, has utilized for operational licenses from the regulators in Dubai and Seychelles.
The dealer is within the ‘last levels’ of acquiring licenses from the Dubai Monetary Companies Authority (DFSA) and the Monetary Companies Authority Seychelles (FSA). At present, it’s working with a Monetary Conduct Authority (FCA) license that it obtained in March 2019.
“We submitted regulatory functions to each the DFSA (Dubai) and FSA (Seychelles) regulators this previous 12 months,” Nick Cooke, the Founder and Board Member at ZenFinex, confirmed to Finance Magnates.
Learn extra on the ZenFinex new licenses right here.
Tesla to Begin Accepting Shiba Inu (SHIB) as Fee?
Shibu Inu (SHIB) was as soon as once more hardly ever out of the crypto information. Elon Musk-led Tesla Inc. (Nasdaq: TSLA), which is the highest producer of electrical vehicles, is presumably planning to just accept funds for its vehicles with the favored meme token, Shiba Inu (SHIB). In keeping with an evaluation of the supply code of the Tesla web site, the identify SHIBA was discovered together with Bitcoin and different common cost strategies.
First posted by a Reddit consumer, the identify of the meme token in Tesla web site supply code was confirmed by many social media customers on each Reddit and Twitter, together with some publicly recognized coders.
Learn extra on the Tesla Shibu story right here.
Binance Launches Shiba Inu (SHIB)-Dogecoin (DOGE) Buying and selling Pair
Binance is making cryptocurrency buying and selling extra fascinating by launching the Shiba Inu and Dogecoin buying and selling pair on Tuesday.
“Binance will open buying and selling for SHIB/DOGE buying and selling pair at 2021-11-02 08:00 AM (UTC),” Binance wrote on its official announcement on Monday.
With this, Binance would be the first main cryptocurrency alternate to supply a buying and selling pair of two meme tokens.
Learn extra on the Binance SHIB DOGE buying and selling pair right here.
Israeli Courtroom Unseals Names of Suspected Foreign exchange Scammers Arrested
A Jerusalem court docket has unsealed the names of the alleged 4 folks that had been concerned in foreign exchange fraud and arrested throughout raids in October in Tel Aviv.
In keeping with The Occasions of Israel, Pavel Kotler, 47, of Holon; Yuri Dashevsky, 33, of Kfar Saba; Nimrod Blachman, 33, hometown unknown; and Chen Malka, 31, of Tel Aviv have been thought-about suspicious of operating binary choices, foreign exchange and cryptocurrency fraud that focused German residents.
Learn extra on the Israeli scammers named right here.
PrimeXM Information Once more over $1 Trillion in Buying and selling Quantity throughout October
PrimeXM, an FX buying and selling business know-how supplier, revealed its buying and selling volumes report for October 2021, noting one other milestone hit for the interval in month-to-month buying and selling quantity.
In keeping with the metrics throughout its 4 main information middle areas, the corporate surpassed the $1 trillion threshold in month-to-month quantity for the fifth consecutive month, reaching over $1.10 trillion, which is a 23% yearly improve in comparison with final 12 months’s determine of $894.36 billion.
As well as, the common day by day quantity (ADV) for October was $52.38 billion, with October 6 as the very best day by day buying and selling quantity day of the month, accounting for round $62.09 billion in turnover.
Learn extra on the PrimeXM report October right here.
CME Group Witnesses a 32% Surge in General ADV throughout October 2021
October was additionally month for the CME Group, The operator of one of many largest US derivatives exchanges launched its month-to-month buying and selling metrics for October 2021, noticing a rise within the common day by day quantity (ADV) of rate of interest contracts.
In keeping with the report, rate of interest contracts surged 94% on a yearly foundation, whereas the general ADV soared 32% on a yearly foundation to twenty.4 million contracts through the interval.
Learn extra on the CME Group October metrics right here.