In a busy week for the finance mogul newsroom, let’s take a look back at the news that dominated the Forex, Fintech and Crypto worlds, in our best segment of the week.
26 Israelis Arrested For FX / Crypto Scam Freed, Overseas Busts Continue
Just a week after the arrest of 26 Israelis suspected of carrying out a massive forex and crypto trading scam, authorities released all suspects without any preconditions.
The arrests were made as part of a joint operation by the Israel Police and the US Federal Bureau of Investigation, which was led by the latter. In addition, arrests were made in connection with the fraud network in Ukraine and South Africa.
In addition, Cypriot authorities recently carried out at least one arrest at the behest of the FBI, according to Israeli media. N12. Although the report could not confirm the exact number of arrests made on the Mediterranean island, it is believed to be linked to previous Israeli arrests.
Learn more about the Israeli arrests here.
Green Lights Volt Equities SEC Crypto Equity ETF
The US regulator, the Securities and Exchange Commission (SEC), last week approved an exchange-traded fund (ETF) that will provide investors with exposure to cryptocurrencies but will not hold any digital currencies directly.
The ETF was created by Volt Equities and is nicknamed Volt Crypto Industry Revolution and Tech ETF. It will track the performance of several publicly traded companies that are closely related to the cryptocurrency industry or hold a large number of digital currencies.
Learn more about the Volt Equities Crypto Stock ETF here.
Deutsche Bank faces € 500million lawsuit over FX scandal
Deutsche Bank is facing a massive € 500 million lawsuit launched by Spain’s seventh-largest hotel chain, Palladium Hotel Group, over the alleged abuse of complex and risky currency derivatives (forex).
As the Financial Times reported on Wednesday, the claim for damages was filed with the High Court in London last month and is among many allegations the bank is facing for selling exotic financial products to small businesses. and medium-sized enterprises in Spain.
The hotel operator carried out 259 derivative transactions facilitated by Deutsche Bank in 2019. The notional outstanding contracts at the height of the transaction in 2017 reached 5.6 billion euros, detailed the lawsuit.
Learn more about the Deutsche Bank FX lawsuit here.
Ripple announces strategic ESG investment
It has been a busy week for Ripple which announced this week that the company has partnered with Nelnet Renewable Energy on a joint $ 44 million investment.
According to an official press release, Ripple funded the majority of the last joint investment. The investment will fund solar energy projects across the United States in support of the transition to a cleaner, more stable energy future.
Learn more about Ripple ESG investing here.
Ripple is part of the Digital Pound Foundation
Just two after the ESG investment, Ripple, one of the world’s leading providers of blockchain and enterprise cryptocurrency solutions, announced that the company has joined the Digital Pound Foundation to chart a course for a CBDC future. .
Ripple mentioned that the company will be represented on the board by Susan Friedman, policy manager at Ripple. The Digital Pound Foundation (DPF) aims to promote the importance of a central bank digital currency (CBDC) in the UK.
Learn more about Ripple’s Digital Pound Foundation here.
XRP Gains Popularity Among UK Investors
According to a report released by eToro, XRP remained the most popular crypto asset among UK retail investors.
Data from eToro, which this week added Solana (SOL) to its crypto offering, revealed that UK-based retail investors preferred XRP to other digital currencies in the third quarter. XRP maintained its crown of number one choice for UK retail investors, growing 4% from the second quarter and growing 105% year-over-year in ownership.
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In addition to XRP, UK-based retail investors have expressed interest in Cardano (ADA). Cardano topped Ethereum (ETH) to take second place with an 11% increase in the past three months and a significant 1230% year-over-year jump.
Learn more about UK XRP preference here.
Exclusive: Major Cypriot Brokers Cease All Marketing Activities
Several confirmed sources Financial magnates that a major operator of several forex and CFD brands based in Cyprus completely shut down all marketing efforts as of Wednesday. brokerage brands.
Financial magnates contacted the group for official confirmation but has not yet received a response.
Learn more about stopping broker marketing here.
Shiba Inu (SHIB): Is it worth an investment now?
Dogecoin’s biggest competitor posted record gains in 2021, but is it really worth a market cap of $ 10 billion? In a Financial magnates analysis, we dived deep into the world of Shiba Inu and examined whether SHIB is worth investing in right now.
Learn more about Shiba Inu (SHIB) here.
NAGA Ends Third Quarter 2021 with Record Revenue of $ 21 Million
Hamburg-based social trading platform NAGA AG (XETRA: N4G) set a new quarterly record with its financial data, generating around $ 21 million in revenue for the third quarter of 2021.
The business services company’s revenue jumped 157% from figures released in the same quarter a year earlier, while the rise was 38% from revenue in the second quarter of 2021. The company announced a growth in its quarterly figures for eleven of the last consecutive quarters.
Learn more about NAGA’s record earnings here.
TradingView Raises $ 298 Million Funding and $ 3 Billion Valuation
TradingView, one of the world’s most popular charting platforms for traders and investors, announced this week that it had raised $ 298 million in the last round of funding led by Tiger Global.
The company is now valued at $ 3 billion and has paying customers in more than 180 countries. The popular charting platform has seen significant growth over the past 18 months.
During the period mentioned, TradingView reported a 400% jump in accounts created and a 237% increase in platform visitors. The company also plans to expand its relationship with brokers over the next few years.
Learn more about the TradingView Funding Cycle here.
Cardano (ADA): Why should this be a crypto to watch for 2022?
In other Financial magnates Analysis, it was Cardano’s turn to be in the spotlight. Cardano coin looks unstoppable above $ 2.00 and outlook for 2022 looks bullish for ADA holders
Now, after crossing the $ 2.00 threshold and consolidating its annual gains above this quarter, crypto traders are eyeing next year’s forecast.
Learn more about what 2022 has in store for Cardano (ADA) here.