It’s that time of the week when we look back at the news stories that have dominated the worlds of forex, fintech, and cryptocurrency, in our top section of the week.
Ethereum 2.0 deposit contract exceeds $25 billion in ETH
The trading week kicked off with news that the ETH community had significantly increased deposits under the Ethereum 2.0 staking contract in the past few days.
The Ethereum 2.0 deposit contract now contains more than 7.7 million ETH, worth approximately $25 billion. In August 2021, the total value of the ETH 2.0 deposit contract exceeded $20 billion for the first time in history. Over the past five weeks, the ETH community has bet over 1.2 million Ethereum under the deposit contract to upgrade its network.
Read more about ETH here.
Ethereum wallet transfers $215 million in ETH
Staying with Ethereum, on Thursday, finance poles You mentioned that the activity of the Ethereum network has skyrocketed since the beginning of this week amid the volatility of the ETH price.
One whale transaction worth $215 million involving 71,191 Ethereum was transferred from an unknown wallet during the week. Also, a crypto whale account moved 21.587 Ethereum from digital exchange platform Binance to an unknown wallet this week as well.
Read more about ETH whales here.
CySEC withdraws CIF license from London Capital Group (Cyprus)
The Cyprus Securities and Exchange Commission (CySEC) on Tuesday announced the withdrawal of the Cyprus Investment Firm (CIF) license to London Capital Group (Cyprus) Ltd. , citing multiple violations of mandatory compliance requirements.
According to the regulator, the broker failed to appoint at least two people as directors. In addition, it “has not established appropriate policies and procedures to ensure its compliance, including that of its directors and employees, with its obligations under law, because it has not ensured that the compliance officer, who is responsible for the compliance function and for any report, is in place.”
Read more about withdrawing the CySEC license from London Capital Group here.
eToro partners with Arsenal to expand global sponsorship portfolio
In the past few months, eToro has significantly expanded its sponsorship portfolio with deals with some of the leading names in the Premier League, including Aston Villa and Newcastle United.
Now, the multi-asset investment platform, it adds Arsenal Football Club to its roster.
eToro and Arsenal Football Club have signed a multi-year sponsorship agreement that makes eToro one of the largest global football sponsors.
Read more about the eToro Arsenal deal here.
Alchemy Markets signs sponsorship agreement with Watford Football Club
Alchemy Markets, which provides brokerage services to retail and institutional clients, on Thursday announced its latest sponsorship deal with English football club Watford FC. The broker has acquired the status of an official partner of the club.
As per the terms of the agreements, the London-based broker will get promotional slots during football match days in both the Premier League and FA Cup. His branding will appear on the club’s LED digital surround boards and post-match wallpapers.
Read more about the Alchemy Markets Watford FC deal here.
XRP vs Solana: Investors Prefer Price Gains Over Adoption
in a finance poles In the analysis, we looked at the sixth and seventh largest cryptocurrency XRP and Solana.
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XRP is up 350% in 2021, while Solana is up 10,000%. However, the two took very different paths.
What do investors choose and why?
Read more about XRP vs Solana here.
Ripple’s Partnership With Bhutan’s Central Bank, XRP Jumps
Ripple, one of the world’s leading blockchain companies, recently announced its collaboration with the Royal Monetary Authority (RMA), the central bank of Bhutan.
According to the partnership, the central bank will use Ripple’s CBDC solution to promote financial inclusion and sustainability. After the last announcement, the price of XRP rose sharply.
Read more about the central bank partnership Ripple Bhutan here.
New CySEC President Inaugurates iFX EXPO International 2021!
iFX EXPO International, Cyprus is once again set to be the premiere in the financial and technical calendar. And the show became even more exciting.
George Theocharides, the new Chairman of the Cyprus Securities and Exchange Commission, will open the first day of the iFX EXPO International 2021!
Mr. Theocarides was appointed just last week, and will deliver the opening keynote – a must for every industry professional. Mr Theocharides’ speech this year follows an eagerly anticipated tradition of the iFX EXPO, where Ms. Dimitra Kalogero, former President, opened the event with her keynote address over the years.
Read more about iFX EXPO International 2021 here.
El Salvador and Bitcoin Adoption: Between Optimism and Doubt
in a finance poles Analysis, we have researched the world of El Salvador and its relationship to Bitcoin.
We discuss the events that led to Bitcoin becoming legal tender in the Latin American country, and after expert analysis, we look at its future here.
Read more about El Salvador and bitcoin adoption here.
Crypto companies welcome CySEC regulations, but challenges remain
After more than a decade of existence and many unicorns, the majority of the cryptocurrency industry is still looking for a friendly jurisdiction where they can be recognized and act as crypto service providers, but this situation is changing.
Cyprus, a popular base for financial services firms tied to Europe, is the latest country to issue a policy statement for the registration and authorization of crypto firms.
in another place finance poles Analysis We’ve analyzed the latest CySEC encryption policy framework and what we can expect as a result.
Read more about analyzing the CySEC crypto policy here.