Netflix, Inc. entered an agreement to acquire Warner Bros., including its film and television studios as well as HBO and HBO Max, from Warner Bros. The cash-and-stock transaction values WBD at $27.75 per share, implying an equity value of about $72.0 billion and an enterprise value of roughly $82.7 billion.According to the companies, the deal will close once WBD completes the previously announced separation of its Global Networks division into a new publicly traded company, Discovery Global.Today, Netflix announced our acquisition of Warner Bros. Together, we’ll define the next century of storytelling, creating an extraordinary entertainment offering for audiences everywhere. https://t.co/rXPFMNIs1A pic.twitter.com/0pdsMUEob8— Netflix (@netflix) December 5, 2025Streaming Leader Meets Hollywood StudioThat deal is now expected in the third quarter of 2026, with the acquisition scheduled to follow 12 to 18 months later, subject to regulatory and shareholder approvals.It would marry Netflix’s global streaming platform and distribution network with Warner Bros.’ century-old studio operations and deep catalogue of film and TV content.“Our mission has always been to entertain the world,” commented Ted Sarandos, co-CEO of Netflix. “By combining Warner Bros.’ incredible library of shows and movies—from timeless classics like Casablanca and Citizen Kane to modern favorites like Harry Potter and Friends—with our culture-defining titles like Stranger Things, KPop Demon Hunters and Squid Game, we'll be able to do that even better.”Executives Pitch Scale and Content BreadthNetflix and WBD said the combined group will offer subscribers more choice and perceived value by adding HBO and HBO Max programming and Warner Bros.’ extensive catalogue to Netflix’s service. The company indicated it will use the enlarged library to refine its consumer plans, potentially by adjusting tiers or packaging, while emphasizing wider viewing optionsYou may also like: Trustpilot Faces “Mafia-Style Extortion” Model Allegations: Will It Affect Brokers, Props?For investors, Netflix expects the deal to drive subscriber growth and engagement and to deliver financial synergies. The company forecasts at least $2–3 billion in annual cost savings by the third year after closing and expects the transaction to be accretive to GAAP earnings per share by year two. Deal Terms and Discovery Global Spin-OffUnder the terms of the agreement, each WBD shareholder will receive $23.25 in cash and $4.501 in Netflix common stock for each share of WBD common stock at closing.The consideration values WBD at $27.75 per share, consistent with the approximately $72.0 billion equity value and $82.7 billion enterprise value for Warner Bros. Discovery.In June 2025, WBD announced plans to split its Streaming & Studios and Global Networks divisions into separate publicly traded companies. The separation is now scheduled to complete in the third quarter of 2026, before the Netflix transaction closes.The latest acquisition could also turn around the fortunes of the streaming giant. In October, Netflix reported revenue of $11.5 billion for the quarter ending September 2025, up about 17% from a year earlier and roughly in line with expectations, driven by subscriber growth, price increases, and advertising gains. However, profits fell short after an unexpected tax charge in Brazil, unsettling investors despite record ad sales. Last year, the company voiced strong satisfaction with the crackdown on password sharing. This article was written by Jared Kirui at www.financemagnates.com.

Cloudflare began scheduled maintenance at its ORD data center in Chicago today (Friday) at 07:00 UTC. The work remained in progress at the time of publication.Cloudflare also announced a separate maintenance window at its DTW data center in Detroit. The company said it “will be performing scheduled maintenance in DTW between 09:00 and 13:00 UTC.” No further service impact details were provided with the notice.During the Chicago maintenance window, several online platforms experienced temporary outages. The websites of CFD broker Skilling, prop firms The5ers and Topstep, and My Funded Futures were briefly inaccessible. LinkedIn was also affected. As of publishing, access to these services had been restored.Cloudflare Maintenance Causes Temporary Network DisruptionsCloudflare stated that “scheduled maintenance is currently in progress” and that it will “provide updates as necessary.”Traffic from the Chicago location may be rerouted during this period. This could result in a “slight increase in latency” for users in the affected region.Cloudflare also said some customers may experience temporary service changes. It warned that PNI and CNI customers should prepare for traffic to fail over to other locations, as “network interfaces in this data center may become temporarily unavailable.”No service incidents "beyond the planned maintenance" were reported at the time of the update.Cloudflare is currently experiencing an outage. pic.twitter.com/M9Uf75XmhH— Pop Base (@PopBase) December 5, 2025eToro provided an update on the incident, stating: “Earlier today, a temporary Cloudflare outage caused some pages and features to load slowly for a short period of time. The issue has now been fully resolved, and everything is back up and running normally.”Brokers, Prop Firms Hit by OutageFollowing a similar disruption in October at Amazon Web Services, Cloudflare experienced a technical fault last month that caused a three-hour outage.We are currently experiencing technical issues due to a global outage at Cloudflare. This is impacting multiple apps and services worldwide.We are monitoring the situation closely and will update you the moment services are restored. Thank you for your patience.— Groww (@_groww) December 5, 2025The disruption affected broker websites, including Monaxa, Skilling.com, Xtrade, and FXPro, as well as social media platforms, crypto networks, and other online services. Cloudflare said it is “aware of, and investigating an issue which potentially impacts multiple customers” and that “further detail will be provided as more information becomes available.” The incident underscores the reliance of brokers, crypto platforms, and other services on a small number of web infrastructure providers. This article was written by Tareq Sikder at www.financemagnates.com.

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, showcases the latest monthly performance update of its Private Wealth Management (PWM) division, with the top-performing fund recording 29.72% APR in November 2025. With wild swings across markets in the past month, Bybit PWM continued to deliver robust returns for high-net-worth clients with a disciplined, multi-strategy, and data-informed approach.Performance Highlights In the latest Bybit PWM newsletter for November 2025, Bybit PWM demonstrated consistent strength across its portfolio:USDT-based strategies: Average APR of 9.8%BTC-based strategies: Average APR of 18.09%"Our clients depend on us to navigate volatile market conditions while maintaining focus on long-term wealth creation," said Jerry Li, Head of Financial Products & Wealth Management at Bybit. "The November results demonstrate that disciplined, professional wealth management can deliver consistent returns and help our customers rise above market sentiments and distractions."Fund performance was calculated using Time-Weighted Return (TWR) methodology with assets aligned as of October 25, 2025, and benchmarked against funding arbitrage performance.Bybit PWM provides high-net-worth clients with exclusive, customized wealth management services tailored to the unique demands of digital asset investors. The platform offers:Bespoke investment strategies and asset allocationProfessional risk management and portfolio oversightAccess to curated private funds and Bybit's institutional-grade trading infrastructureDedicated relationship management and expert guidanceFor details of Bybit PWM’s September performance, users may visit: Bybit Private Wealth Management: November 2025 NewsletterBybit PWM is currently offering a special year-end opportunity for our eligible VIP clients. For a limited time, the minimum subscription requirement for the PWM solution has been halved to 250,000 USDT. Qualified investors interested in exploring Bybit Private Wealth Management services may visit Bybit Private Wealth Management.#Bybit / #TheCryptoArk / #IMakeItAbout BybitBybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 70 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open, and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at https://www.bybit.com/en/ For media inquiries, please contact: media@bybit.com This article was written by FM Contributors at www.financemagnates.com.

London-listed shares of Trustpilot, the ratings of which are often advertised by brokers and prop trading firms, have fallen about 30 per cent after short seller Grizzly Research alleged that the review platform is running a “mafia-style extortion” campaign to pressure businesses into buying subscriptions to improve their ratings.The Questionable Business Model of TrustpilotFinanceMagnates.com had already exposed the questionable business model of Trustpilot earlier this year. According to Anya Aratovskaya, Trustpilot sent “policy violation” warnings to companies collecting positive reviews without paying and also stopped them from sending customers to their Trustpilot profile unless they were on a paid plan.In its defence, Trustpilot at the time said that it treated “all business in the same way” and that “there is also no policy in place that prohibits companies from sending customers to their Trustpilot profile unless they are on a paid plan.”Read more: Trustpilot’s Reputation Casino - Are Brokers and Props Playing or Getting Played?The latest allegations by the US-based Grizzly came in a 43-page report, as the company shorted the London-listed stock of Trustpilot.“Many described bullying tactics reminiscent of a bad 1990s mob movie,” the short seller noted in its report. “This appears to be Trustpilot’s core sales strategy.”“Many business owners give in to Trustpilot and subscribe to premium services, believing they are purchasing 5-star reviews to outweigh the negative ones allowed on the site.”[#highlighted-links#] “A Platform to Attract Bad Reviews, and Customers Must Pay to Reduce the Bad Reviews”Trustpilot generates revenue by selling subscriptions to companies on its platform, which also enables them to monitor and interact with their customers. The review platform also has a high net dollar retention rate, as companies listed need positive validation from their customer base to attract new customers.In the retail trading industry, Trustpilot reviews are often regarded as one of the top signs of trust. CFD brokers and prop firms even have dedicated teams in place to handle reviews on their Trustpilot page and other social media platforms.For prop firms, which are not regulated as financial service providers, Trustpilot ratings also bring a sense of authenticity. These firms, along with many brokers, even advertise their Trustpilot scores, if high enough, on their website homepage.The Grizzly report also challenged the authenticity of Trustpilot reviews, alleging that the platform had either challenged or removed genuine negative reviews from its subscribers while allowing fake positive reviews to remain.FinanceMagnates.com had earlier also exposed several websites selling fake Trustpilot reviews. While the price of one fake review was around $10, a bulk order of 2,000 reviews would cost about $7,500. One such platform even claimed to have 20,000 Trustpilot profiles, each created from unique devices and IP addresses of real users worldwide to bypass the Trustpilot authentication checker.Trustpilot even removed and flagged the accounts of many prop trading platforms for displaying fake reviews, claiming that it has “zero tolerance” for such practices.Although the review platform says it is using AI and removing millions of fake reviews, Grizzly alleged that “Trustpilot is either doing a very bad job at policing their website or is wilfully negligent when convenient.”“We believe Trustpilot has created a platform to attract bad reviews, and customers must pay to reduce the bad reviews,” the short seller added. “This created a review system that only seems to express who pays Trustpilot.”In a statement, Trustpilot said that the Grizzly report was “selective, misleading and framed to support a pre-determined narrative.”“[The report] omits key context and publicly available facts, creating a false impression and shows a lack of understanding of how Trustpilot works,” the review platform stated. This article was written by Arnab Shome at www.financemagnates.com.

The head of XTB, one of Europe's fastest-growing retail trading platforms, laid out an unusually candid competitive vision during a recent panel discussion at Invest Cuffs Warsaw, declaring his company's intention to become "Europe's Robinhood" while simultaneously predicting the American brokerage will fail to gain traction on the continent.Omar Arnaout, CEO of the Warsaw-listed trading firm (WSE: XTB), also commented on another strong competitor on the Old Continent: Revolut.Why XTB’s Arnaout “Hates” Revolut?During the Invest Cuffs Warsaw conference, which brought together executives from several Polish companies, Arnaout discussed XTB's regional position and shared surprisingly frank views on his direct competitors. When the conversation turned to Revolut, Arnaout didn't hold back. "I hate them because they've grown so much, but they're just excellent," he said, acknowledging that he personally uses the app and that XTB's team studies Revolut's product development daily.The executive positioned his company's strategy around creating what he called a "super investment application" comparable to how Revolut brands itself as a bank in your pocket. "We want to be the best investment application, regardless of needs, whether active or passive," Arnaout explained, adding that the platform must offer comprehensive product coverage to compete effectively.XTB's growth trajectory supports this ambition. The company took 20 years to reach its first million clients but expects to add one million new accounts in 2026 alone, according to Arnaout. This acceleration coincided with the firm's 2020 expansion into stocks and ETFs, moving beyond its original focus on contracts for difference.Robinhood Won’t Win EuropeDespite his admiration for the UK-based fintech, Arnaout drew a sharp distinction between XTB's ambitions and another competitor, Robinhood, and its European prospects. Speaking about consumer preferences, he framed the competitive landscape in generational terms. "If you asked anyone from 20 to probably 45 years old who would be their first choice, in the United States it's obviously Robinhood," he said. "In Europe, I hope that in two or three years the obvious choice will be XTB."While Arnaout believes XTB is positioned to dominate European retail trading, he expressed skepticism that Robinhood can replicate its U.S. dominance abroad. "I think Robinhood probably won't achieve success in Europe," he stated flatly during the discussion.The CEO did not elaborate extensively on specific barriers Robinhood might face, but his comments reflected broader competitive dynamics. XTB has spent years building localized product offerings across European markets, including instruments tailored to specific countries alongside global securities. Competitive Vigilance and Market LeadershipArnaout's candid assessment of competitors extended beyond Revolut and Robinhood to include Trade Republic, another platform XTB monitors closely. The executive emphasized that his team analyzes what makes successful competitors effective and incorporates those insights into XTB's own development.The company invests heavily in technology to maintain its competitive edge, now employing approximately 550 people in its IT division compared to a single computer enthusiast when Arnaout joined in 2007. He acknowledged that XTB didn't invent its approach but rather observed successful models and "did it much better and took the project much more seriously"."There can only be one largest investment firm in Europe, only one second largest firm," he said. "If we're outside the top three, honestly it's a waste of time". The CEO said XTB applies this standard to every country where it operates, prepared to exit markets where the firm cannot achieve a top-three ranking. This article was written by Damian Chmiel at www.financemagnates.com.

Meta is weighing significant budget reductions for its metaverse division while funneling resources into AI and smart wearables.The Metaverse Still Alive, The Money Hose is NotMeta spent years selling the metaverse as the next chapter of the internet. It rebranded the entire company around it and poured astonishing sums into Reality Labs, the division tasked with building that vision. The division has logged losses north of 70 billion dollars since 2021. Investors gritted their teeth. Users were politely indifferent. But Meta kept the faith.Now Bloomberg reports that faith may be running into balance sheet reality. According to its early reporting, Meta is considering cutting as much as 30 percent of Reality Labs spending as part of internal 2026 planning. These are discussions, not executed decisions. Executives are weighing scenarios, not issuing termination notices. Still, the scale of what is being discussed signals a sharp change in mood.Metaverse land buyers then and now pic.twitter.com/I8yx0SbdKz— Tenacious (@TenaciousBit) December 4, 2025The potential cuts would land squarely on the metaverse heartland. Bloomberg says the funds for Quest hardware, Horizon Worlds, and other VR and AR projects are being examined for reductions. The discussions reportedly include the possibility of layoffs as soon as January. That again is not confirmed, but it shows how aggressive the planning conversations have become.All of this is due to the slow adoption of virtual reality and the stubborn lack of monetizable traction for metaverse products. A concept that was meant to reshape daily life ended up feeling more like a very expensive experiment. However, perhaps unsurprisingly, artificial intelligence (AI) is also a factor.[#highlighted-links#] A Strategic Pivot That Feels FamiliarThe renewed caution around the metaverse is happening in tandem with rising enthusiasm for artificial intelligence. According to reports, Meta is weighing reallocating resources toward “hardware, software and AI integration for its interfaces”. This is a shift away from fully immersive worlds and toward devices that use AI to mediate the real one; the company is rebalancing rather than abandoning the category. Meta is still building hardware, still working on glasses, still chasing the sci-fi future. But AI is now the gravitational pull.None of this should surprise investors. AI has delivered early returns across the tech sector. The metaverse has not. If one side of the business is outspending its results and the other is defining the zeitgeist, internal planners are not likely to miss the lesson.Perhaps unsurprisingly, Meta's stock is up over 5% following the news. Investors love AI, it seems.BREAKING: Meta stock, $META, surges over +5% after Mark Zuckerberg says the company is looking at cutting Metaverse efforts by up to 30%.The market has been waiting for this announcement for years. pic.twitter.com/WuItuSgxf1— The Kobeissi Letter (@KobeissiLetter) December 4, 2025Meta has not commented publicly on the planning discussions, and none of the shifts described in the reporting are confirmed. Given the lack of a response, this looks like a stage-setter for the strategic guidance Meta will deliver in early 2026.So What Now for The Metaverse?If the metaverse was ever going to become a daily habit for millions of people, Meta was the company with the best shot at making it happen. Now the company appears to be weighing a future where virtual worlds get less oxygen and AI takes center stage. That does not mean the dream is dead. It means the dream is moving down the priority list.$META'S ZUCKERBERG PLANS UP TO 30% CUTS FOR METAVERSE EFFORTS - BLOOMBERG pic.twitter.com/99D6Xu2KX2— Wall St Engine (@wallstengine) December 4, 2025There is a difference between a full pivot and a resource rebalancing. It seems that Meta still wants to shape the next computing platform. It just appears less confident that the next leap will take place inside a headset and more confident that it will be driven by AI.Until Meta confirms its 2026 budget, all of this remains planning chatter. But if the chatter proves correct, the era of metaverse maximalism may be ending. In its place is something leaner, more cautious, and far more aligned with what the market wants right now: AI that feels useful, not worlds that feel empty. This article was written by Louis Parks at www.financemagnates.com.

The European authorities have taken down a cryptocurrency fraud and money laundering network that is believed to have laundered over 700 million euros. Multiple European agencies collaborated in the two-phase operation, which led to the arrest of nine individuals.Taking Down a Vast Fraud NetworkAccording to Europol’s announcement yesterday (Thursday), “the criminal network operated numerous fake cryptocurrency investment platforms, luring thousands of victims with advertisements promising high returns.”The perpetrators contacted the victims repeatedly from call centres, according to the agency, and used social engineering tactics to pressure them into making investments on the fake trading platforms.The network came to light after authorities began an investigation into a single fraudulent cryptocurrency platform.The reach and set-up of the network are said to span across Europe and beyond.Another earlier report revealed that the European agencies removed over 1,400 fraudulent online trading platforms that tricked retail investors. German investigators, working alongside BaFin, Europol and Bulgarian authorities, traced networks of fake brokers luring users into investing large sums with promises of high returns.Raids and ArrestsThe latest nine arrests were made in the first phase of the crackdown, which took place on 27 October, involving police raids across Cyprus, Germany and Spain at the request of French and Belgian authorities. It also resulted in the seizure of bank accounts, cash, cryptocurrencies, digital devices and high-value watches.In the second phase of the operation, carried out on 25 and 26 November, the authorities focused on targeting the affiliate marketing set-up that supports these online scams, which use fake advertisements with photos and deep fake videos of celebrities and even politicians.Interestingly, the Italian financial market regulator recently pointed out that deep fake ads of the country’s Prime Minister, Giorgia Meloni, are being used to promote fake investments.These ads look like they’re from Nike, KFC, and Coca-Cola…But none of them are realThey’re 100% AI-generated — and shockingly good!Here are 14 wild examples: ?1. Physics? AI doesn’t care. pic.twitter.com/wSq4XtTlNK— Arsalan (@AIwithArsalan) August 1, 2025Agencies from Belgium, Bulgaria, Germany and Israel conducted the latest searches against companies and suspects involved in fraudulent advertising campaigns on social media platforms.It appears that the majority of the fraud operations were based in Cyprus, Germany and Spain, while companies in Belgium, Bulgaria, Germany and Israel ran the fake ads.“Following these two coordinated actions and multiple arrests and seizures, investigative authorities will continue to track the criminal organisation’s assets in the countries where it operates and resides,” Europol stated.Recently, the European authorities also closed a crypto-mixing service, “Cryptomixer,” allegedly used by cybercriminals to launder over €1.3 billion in Bitcoin. Authorities confiscated three servers, the platform’s domain, more than €25 million ($29 million) in BTC and over 12 terabytes of operational data. This article was written by Arnab Shome at www.financemagnates.com.

When most people at his age were chasing early career milestones, Wei Sheng was fighting to climb out of a USD 100,000 (RM400,000) debt — a debt that almost broke him, but ultimately became the foundation of his purpose.“My story began with a fall,” Wei Sheng recalls. “But I refused to let it define me.”A Humble BeginningBorn and raised in Pahang, Malaysia, Wei Sheng grew up in a modest household. His father worked at a timber factory — the family’s sole breadwinner — until a tragic car accident took his life during Wei Sheng’s final year of secondary school. The sudden loss plunged the family into financial hardship, forcing Wei Sheng to mature faster than most teenagers his age.Despite the challenges, a life-changing exchange program in the United States opened his eyes to a world beyond his circumstances. The experience sparked a deep desire for growth, freedom, and a better future.Back home, he studied Environmental Engineering at the University of Malaya. At just 22, he made a 60% profit on his first stock trade — but what followed was a harsh lesson. Overconfident and inexperienced, he lost his entire scholarship fund. “That was my first true failure,” he admits. “It taught me that the market rewards discipline, not emotion.”With support from his sister, Wei Sheng enrolled in professional trading courses while documenting his learning journey online. What started as a personal blog soon grew into one of Malaysia’s largest trading and investment communities, laying the foundation for his future in financial education.From Collapse to ComebackThe real turning point came in 2017, during the cryptocurrency boom. After years of study, practice, and reflection, Wei Sheng made a RM600,000 profit in that year — enough to clear his RM400,000 debt and finally breathe again.“That moment wasn’t just financial freedom,” he says. “It was the turning point where pain became the purpose.”Having rebuilt himself from nothing, Wei Sheng realized that his true calling wasn’t just trading — it was teaching others to avoid the same mistakes he once made. That conviction became the seed of what would later grow into Traderpreneur Xcellence (TX).The Birth of TX — Turning Lessons into LegacyIn 2021, Wei Sheng founded Traderpreneur Xcellence (TX), a pioneering financial education platform headquartered in Kuala Lumpur. TX was created with one mission: to make financial literacy accessible and actionable for everyone — from university students to working professionals.TX’s philosophy is simple yet powerful: combine real-world trading experience with entrepreneurial thinking to create what Wei Sheng calls “Traderpreneurs” — individuals capable of managing their own finances and building long-term wealth.The academy’s curriculum spans cryptocurrencies, U.S. stocks, indices, currencies, and metals, delivered through programs such as:Global Index Mastery (GIM) — a complete guide to understanding and trading world indices.The Mentored Trader (TMT) — a 12-month mentorship program that has trained over 200 traders and produced several full-time professionals managing nearly a million in trading accounts.Gold Strategy Mastery (GSM) — a specialized course that trains students to interpret global gold market trends and manage real-time trading decisions.Through these initiatives, TX has educated over 10,000 students nationwide and built one of Malaysia’s most active trading and investment communities.A Moment That Made HistoryIn a defining moment for the academy, TX achieved two Malaysia Book of Records titlesMost Participants in a Live Trading Session andMost Participants in a China Stock Investment Seminar.Standing on stage at TX’s first-ever 1,000-pax live event, Wei Sheng remembers being overcome by gratitude.“Standing there, surrounded by students who shared the same dream — it felt surreal,” he says. “It wasn’t just a milestone for me or TX. It was a message that no matter how far you fall, you can rise even higher with faith and hard work.”Building a Movement, Not Just a BusinessTX’s rise has been remarkable. In just a few years, it has earned multiple national and international recognitions, including:Golden Bull Award – Emerging SME CategoryMalaysia Influential Educators AwardThe 100 Most Influential Young Entrepreneurs (MIYE)Leading Trader by Trading.LiveBritishpedia – Most Successful People in MalaysiaBeyond accolades, TX’s core values — Honesty, Enthusiasm, Gratitude, and Accountability — remain the foundation of its success. The academy’s approach focuses not only on skill-building but also on cultivating the right mindset, emotional discipline, and risk awareness among aspiring traders.“We don’t just teach people to trade,” Wei Sheng explains. “We teach them to manage themselves — because trading is more about mastering your emotions than mastering the charts.”From Malaysia to the WorldNow, TX is gearing up for its next milestone — expanding beyond Malaysia. With plans to scale its digital learning ecosystem, establish strategic partnerships, and launch localized programs across Southeast Asia and beyond, TX is set to bring its education model to a global audience.“Financial education shouldn’t stop at borders,” Wei Sheng says. “The hunger to learn and grow financially is universal.”This next phase represents the evolution of both TX and Wei Sheng himself — from local educator to global advocate for financial literacy and empowerment.A Legacy Built from ResilienceFrom losing everything to founding one of Malaysia’s most respected financial academies, Wei Sheng’s journey is one of faith, failure, and rebirth. It’s a story that resonates deeply in a world where financial literacy is often overlooked — a reminder that success is not the absence of failure, but the ability to rise stronger because of it.“We’re not just teaching people how to profit,” he reflects. “We’re teaching them how to think — about money, about opportunity, and about themselves.”As TX moves toward its vision of becoming Asia’s largest investment and trading community, one truth stands unshaken:Wei Sheng’s greatest investment has always been in people — and their potential to change their own lives. This article was written by FM Contributors at www.financemagnates.com.

The Australian financial market regulator has issued an interim stop order against the operator of contracts for difference (CFD) broker FXCM for offering the risky instruments to “investors with a medium risk appetite.” The lapse has been seen as a breach of the target market determination under the design and distribution obligations (DDO) of the broker.A Pause of the BusinessFXCM can now neither issue CFDs to retail clients nor open trading accounts for new retail clients to trade in those CFDs, which cover currency pairs and forex baskets, treasuries and commodities, stock indices, stocks and stock baskets, and cryptocurrencies.However, the existing clients of the broker can close their open positions.Announced today (Friday), the Aussie regulator said that “the risks associated with trading FXCM’s CFDs, including leverage, volatility, liquidity and pricing risk, make them unlikely to be suitable for investors who have a ‘medium risk appetite’, regardless of any other investment criteria noted in the TMD.”Meanwhile, the latest action is another by the Australian Securities & Investments Commission (ASIC) against CFD brokers for lapses around target market determination.ASIC Hitting Brokers for DDO ViolationsEarlier, the regulator issued similar orders against several brokers, including Saxo and Mitrade, but those companies fixed their lapses and continued offering their services.ASIC implemented the DDO rules in October 2021 and has strictly enforced these obligations for financial services companies. It requires financial services providers to ensure products are designed with consumer needs in mind and distributed in a targeted way. They must also monitor outcomes and reassess their product governance arrangements over time.Interestingly, the Aussie agency later found “significant room for improvement” in its DDO rules for over-the-counter (OTC) derivatives and other high-risk retail products, which include CFDs.The regulator even heavily restricted the leverage brokers offer to retail traders until May 2027. It even banned binary options, which will be in effect until October 2031.The interim stop order against FXCM will be valid for 21 days unless revoked earlier, which depends on the broker’s steps to fix the lapses.“ASIC made the interim order to prevent FXCM from issuing CFDs to retail clients, where distribution of the products is unlikely to be consistent with the financial objectives, situation or needs of consumers in its target market,” the regulator added. This article was written by Arnab Shome at www.financemagnates.com.

Binance has named co-founder Yi He as co-chief executive, creating a dual leadership with Richard Teng, the regulator-turned-CEO. The appointment shows that Binance is changing how it distributes authority at the top. Richard Teng, a former regulator who became CEO in 2023, represents the company’s intended image of compliance, while Yi He — CZ Zhao’s longtime partner and current leader of product and strategy — reflects its founder-driven origins. The move follows Zhao’s pardon by U.S. President Donald Trump, which lifts Zhao’s personal criminal restrictions but leaves Binance’s corporate settlement and global regulatory matters unchanged.A Split Structure, Not a Split PersonalityBased on the professional backgrounds of both executives, the new structure suggests a clear split in responsibilities: Richard Teng serves as the “External CEO,” tasked specifically with regulatory affairs, corporate governance, and ensuring operational stability. He is chiefly responsible for managing Binance’s interactions with global regulators, representing the company externally. Yi He serves as the “Internal CEO,” overseeing product development, marketing, user community engagement, and the Web3 ecosystem. She also continues to lead Binance Labs and is focused on internal growth, innovation, and user experience.[#highlighted-links#] This structure makes official an internal balance that has long existed. Yi He, instrumental in Binance’s growth and product strategy, now receives formal recognition of her influence. In a letter to the judge during Zhao’s sentencing, He explained their earlier approach and described their mistakes as rooted in a founding team with limited legal experience. While Zhao himself tried to play down any potential return, the rise of his closest partner to the top job sends a clear signal that Binance is keeping its original product-driven style. The company is now relying on a plan that depends on keeping two competing priorities in place: its founder’s fast-growth approach and the demands of global compliance. It hopes this structure will allow it to expand well beyond its current size without becoming just another “boring” corporate project. This article was written by Tanya Chepkova at www.financemagnates.com.

CNBC entered into a partnership with prediction-market operator Kalshi to integrate its event-odds data across the network’s television, digital and subscription products starting next year. The deal comes days after a similar collaboration between Kalshi and CNN, highlighting how major news outlets are adding prediction markets to their coverage of politics, economics and global events.Multi-Year Exclusive PartnershipAccording to CNBC, the agreement makes Kalshi the sole provider of prediction market data to the channel, mirroring the model the exchange has already tested with CNN but on a competing channel.CNBC x KalshiThe leading business news network integrates the leading prediction market.Kalshi’s data will supercharge CNBC’s reporting: unfiltered, accurate and market-driven.A new era of media is here. pic.twitter.com/9s1qzWUAPz— Kalshi (@Kalshi) December 4, 2025The network also plans to use Kalshi’s prices to show how odds on key events shift as new information hits markets. Editorial teams will integrate the data into segments and analysis rather than treat it as a separate product.Kalshi runs a regulated events exchange where users trade contracts tied to outcomes such as elections, inflation releases, policy decisions and cultural moments. Prices on these contracts translate into implied probabilities, which offer a forward-looking view on how traders collectively see the odds.This structure has made Kalshi a reference point for investors, policymakers and media outlets looking for a quantitative gauge of expectations.CNN partners with Kalshi to integrate prediction markets into its global newsroom.The first major news network to embrace Kalshi prediction markets.A new era of media is here. pic.twitter.com/uXLlWVLjQs— Kalshi (@Kalshi) December 3, 2025From early next year, CNBC will reportedly display Kalshi data on flagship shows including “Squawk Box” and “Fast Money,” where viewers will see a dedicated ticker with event odds running alongside traditional benchmarks like stock indexes, bond yields and currency rates.Forecasts Become Part of the NewsCNBC will also feature Kalshi data across its website and subscription services, weaving implied probabilities into stories on macroeconomics, politics and corporate risk. Kalshi, for its part, will host a CNBC page on its platform that highlights markets selected by CNBC editors.Amid the rising popularity of events contracts, Kalshi recently raised $1 billion in new financing, lifting its valuation to about $11 billion, up from roughly $5 billion less than two months ago. The prediction platform is also outpacing peers. A report from September showed that it had become the largest venue for prediction markets and event-based contracts by trading activity, as regulated exchanges gain share against offshore platforms. From September 11–17, Kalshi accounted for 62% of total prediction market volume, versus 37% for Polymarket, according to Dune Analytics. Over that week, Kalshi handled more than $500 million in trading volume. This article was written by Jared Kirui at www.financemagnates.com.

Acting CFTC Chairman Caroline D. Pham announced that listed spot cryptocurrency products will begin trading for the first time on CFTC-registered futures exchanges, marking a major shift in how Americans can access leveraged crypto exposure. The move aligns with President Donald Trump’s pledge to usher in what the administration calls a “Golden Age of Innovation” and to position the U.S. as a center for digital asset markets.Acting Chair Pham Outlines Policy ShiftPham framed the decision as a course correction after years in which the agency focused on enforcement actions instead of clear rules for retail products. She said the CFTC has a long record of allowing new derivatives products while enforcing core principles around customer protection and market integrity..@CFTCpham Announces First-Ever Listed Spot Crypto Trading on U.S. Regulated Exchanges: https://t.co/89Mx6f0ss4— CFTC (@CFTC) December 4, 2025In her statement, Pham argued that recent turmoil on offshore platforms highlighted the need for U.S. traders to have access to “safe, regulated U.S. markets” rather than relying on venues with weaker safeguards.The policy shift ties back to reforms Congress passed after the global financial crisis more than a decade ago. Lawmakers required that leveraged retail commodity trading take place on futures exchanges, but the CFTC never fully implemented this mandate for exchange-traded retail crypto products.Pham said the vacuum left market demand to flow offshore while domestic policy defaulted to “regulation by enforcement,” resulting in large penalties for crypto firms but no clear path for retail traders to access regulated venues.Trump Administration Crypto AgendaPham’s move effectively operationalizes one piece of that plan by enabling leveraged spot crypto trading on platforms already supervised as futures exchanges.Keep reading: Revolut Launches UK Waitlist for Corporate Card Automating Business ExpensesBitnomial, a CFTC-regulated designated contract market (DCM), is set to become the first exchange to list these leveraged spot crypto products, with trading expected to start next week. The Chicago-based platform already operates under the derivatives regulator’s rulebook and will now extend its offering to spot digital assets under the new approach.? XRP futures are here! ?Bitnomial is launching the first-ever CFTC-regulated $XRP futures in the U.S. — physically settled for real market impact. Plus, we’ve voluntarily dismissed our case against the SEC as regulatory clarity improves. pic.twitter.com/ARkSanjFNU— Bitnomial (@Bitnomial) March 19, 2025As part of that process, the agency gathered feedback from market participants, other regulators and the public on how to integrate digital assets into existing rules. The CFTC worked with the Securities and Exchange Commission during the consultations.Crypto Sprint and Tokenization PushOther elements of the Crypto Sprint include plans to allow tokenized collateral, including stablecoins, in derivatives markets and to update technical rules governing collateral, margin, clearing, settlement, reporting and recordkeeping.The CFTC’s move seeks to balance growing demand for crypto exposure with concerns about leverage, volatility and market abuse. By bringing spot products under the same umbrella as established futures exchanges, regulators aim to apply familiar safeguards to a new asset class without stifling innovation. This article was written by Jared Kirui at www.financemagnates.com.

FTMO, a global proprietary trading firm, has officially declared that it is now available to traders in India. It shared the announcement on social media platform X today (Thursday).Young Indians Show Growing Trading InterestSeveral prop trading firms, including FundingPips, The5ers, FundedNext, and Maven, generate significant web traffic from India, which accounts for roughly 40 per cent of organic traffic among the top 50 prop firms. Interest in prop trading has risen since 2023, especially among young Indians aged 18–30. Firms focus on low-cost evaluation programs, content marketing, and culturally relevant campaigns. Advertising avoids terms like “CFD” due to regulatory restrictions, emphasizing educational material. Regulatory uncertainty from SEBI and RBI remains a key consideration for marketing and operations.FTMO is now in India ??— FTMO.com (@FTMO_com) December 4, 2025Indian Traders Gain FTMO Market AccessFTMO’s move marks a change from a Reddit post by the company about two months ago, where it shared a map showing that it did not accept clients from India. The company wrote: “The provided map delineates service availability, with eligible countries highlighted in blue. This representation is subject to internal business decisions and changes in compliance with evolving legal and regulatory standards.”Prop Firm Match also shared the news of FTMO’s expansion on its own social media channels, confirming the expansion to Indian traders.? @FTMO_com is now available to traders in India.This expansion opens access to one of the world’s largest retail trading markets, where demand for prop trading continues to rise.See which prop firms are available to traders in India on Prop Firm Match ?— Prop Firm Match (@PropFirmMatch) December 4, 2025The post read: “FTMO_com is now available to traders in India. This expansion opens access to one of the world’s largest retail trading markets, where demand for prop trading continues to rise.” This article was written by Tareq Sikder at www.financemagnates.com.

Kraken has expanded its services in Colombia with the activation of local payment rails. The move allows clients to deposit Colombian pesos directly using domestic payment methods. Deposits are automatically converted to US dollars at transparent exchange rates, removing the need for international wire transfers.The company has also extended its services in Europe. Kraken now operates in all 30 European Economic Area countries under its Markets in Crypto-Assets license. Kraken’s MiCA-regulated entity is authorized by the Central Bank of Ireland and now serves EEA clients directly. Kraken Launches COP Deposits in Colombia“Colombia is one of the most dynamic crypto markets in Latin America, with a digitally engaged population and a growing appetite for decentralized financial tools,” said Mark Greenberg, Kraken Global Head of Consumer. “This integration marks an important step in giving Colombian clients more accessible, secure entry points into the global crypto economy.”Crypto adoption in Colombia has grown steadily, driven by increased financial digitization, interest in stablecoins, and demand for cross-border remittances. Kraken said its local funding support aims to reduce onboarding friction and provide institutional-grade infrastructure.Kraken expands access in Colombia with local payment integration https://t.co/oaYeZXPXbg— Crypto Brothers (@LosKruptos) December 4, 2025Crypto Services Scale Across Latin AmericaThe company’s expansion in Colombia is part of a broader strategy in Latin America. Kraken has already introduced foundational infrastructure in Argentina and Mexico, with the goal of scaling its regional presence.Colombian clients now have access to local COP payment rails, over 500 digital assets and global liquidity, competitive foreign exchange rates, and 24/7 support. Kraken said this rollout is designed to serve a range of users, from first-time participants to advanced traders.Tokenized Equities Now Trade Around ClockKraken has enabled 24/7 trading for its tokenized stocks, extending “xStocks” from a 24/5 schedule to full-week coverage. The initial rollout includes 10 popular equities, such as TSLAx, SPYx, and NVDAx. Each token is fully backed by its underlying asset. Available in over 160 countries across multiple blockchains, the feature allows professional traders to react to global events outside traditional market hours, reflecting broader efforts to apply crypto infrastructure to capital markets. This article was written by Tareq Sikder at www.financemagnates.com.

The founders of prop-trading heavyweight The5ers have entered the contract-for-difference (CFD) brokerage space with a new brand, TSG., which is regulated in Cyprus, FinanceMagnates.com has learned exclusively.“This expansion of services represents a strategic evolution in our services,” Gil Ben Hur, founder of The5ers and TSG., told FinanceMagnates.com. “By combining the capital opportunities of The5ers with the Cysec regulated security of TSG., we have created a unified ecosystem. This allows us to offer end to end servicing for the retail market, ensuring that whether a trader is looking for leverage, funding, or independence, we provide the complete infrastructure for their success.”“Built with the Same DNA, Spirit, and Standards” of The5ersDespite the strong ties with the prop platform, the brokerage will operate separately. While the prop trading brand is based in Israel, the brokerage arm will be headquartered in Nicosia, Cyprus.“We will not operate the prop and brokerage services under the same brand,” said Ben Hur.“It is not only a regulatory requirement; it also reflects our core management philosophy.”However, Ben Hur stressed that although “the new brokerage isn’t technically under The5ers, it is absolutely being built with the same DNA, spirit, and standards that have defined our brand since day one.”He also pointed out that the newly established broker will “not necessarily” be used to handle prop flows.“The primary purpose of establishing a CySEC-regulated broker is to expand the value proposition we offer to our global trading communities, not to redirect or consolidate prop flows,” Ben Hur said.“The5ers already works with a diverse array of liquidity providers and technology suppliers, and this network will remain intact,” he continued. “Maintaining variety and redundancy is important because it gives our prop clients stability, flexibility, and multiple execution channels. In that sense, the introduction of TSG. does not replace or override our existing infrastructure.”He further highlighted that The5ers is essentially a corporate-level client with its own supplier ties, work needs, and standards, while retail brokerage services work under a different framework designed for individual traders rather than institutional-style prop operations.“It Is Increasingly Natural, and Even Inevitable”Although prop trading has become a large industry, it remains unregulated. Ben Hur said that a regulated brokerage will provide The5ers' community “with the safety, governance, and transparency they deserve.”“It is increasingly natural, and even inevitable, for prop firms and brokers to sit side by side on the same shelf,” Ben Hur said, adding that the two models are “complementary” to each other. “For retail traders, the combination of these two models represents the next evolution in the trading landscape.”And indeed, both brokers and prop firm operators have seen the benefits of the other side. Usually, brokers were the ones to add a prop trading unit, as brands like Hantec, Axi, IC Markets, ATFX and many others now run a separate prop trading venue. However, FTMO broke the trend by opening a brokerage unit and then acquiring OANDA, making it a two-way street.For brokers, however, prop services are turning into a channel to convert traders to brokerage customers.The5ers Founder, @Gil_BenHur and Biz-Dev Director Tomer Mann represented the Five Percent Group at FMLS:25 in London!Gil spoke on the “State of the Prop 2026” panel - a highlight of a strong week for the group. pic.twitter.com/UjRrqsKymR— The5ers (@the5erstrading) November 30, 2025Although several other prop firms obtained offshore brokerage licences or registered themselves in brokerage license exempted jurisdictions, these were mainly to get a MetaTrader licence.“We already see a clear trend: more and more brokers are exploring prop services and integrating prop style models into their offerings,” Ben Hur said. “And I believe this is only the beginning. Very soon, traders will expect, not just appreciate the ability to consume both services within a unified ecosystem.”“Looking ahead, I anticipate a wave of new hybrid prop models emerging: best of breed platforms that combine a safe, fully regulated trading environment with the educational, funding, and performance based advantages of prop trading,” he shared.“Multiple Regulatory Applications Underway”Interestingly, The5ers' founders chose Cyprus to run the brokerage business when many other established broker brands were leaving the island. Several of them set up bases in Dubai, while others moved to offshore locations.“Choosing CySEC was a natural decision for TSG.,” Ben Hur said. “Despite the market trend of some brands, we deliberately chose to anchor our brokerage with one of the most prestigious and respected CFD regulators in Europe.”“CySEC has a long-standing global reputation for strong supervision, high compliance requirements, and robust investor protection standards, and for us, this aligns perfectly with the message we send to our clients: we operate at the highest level of professionalism and transparency,” he explained.At first, Trade Set Go will offer 300 CFD instruments across five major market groups: forex, equities, indices, cryptocurrencies, and commodities. It will offer trading on MetaTrader 5.In line with the CySEC licence, Europe will be its main market in the early stages.Read more: What Do Exness, IronFX, FXTM, and RoboMarkets Have in Common?The new brokerage business of The5ers' founders did not receive a fresh licence from CySEC; instead, they acquired a minority stake in GWTrade, another CFD broker licensed on the island. Notably, the launch of a new brand through acquisition is a common practice in the industry to cut down delays in getting a new licence.However, the new TSG. brokerage brand does not want to be limited to only the island, as it “already has multiple regulatory applications underway with additional jurisdictions.”“Expanding our regulatory footprint will allow us to serve more traders worldwide with region-specific compliance, better onboarding access, and a seamless experience for citizens across multiple geographies,” Ben Hur said.“Our roadmap is clear: by 2026, our goal is to operate as a globally accessible brokerage, serving traders across multiple continents with fully compliant, region specific onboarding and support,” he concluded. This article was written by Arnab Shome at www.financemagnates.com.

Kraken and Deutsche Börse Group have partnered to turn fragmented crypto, FX and derivatives markets into a single, institutional-grade access point. The deal combines an established exchange operator and a long-running crypto venue in a bid to make trading, settlement and custody feel the same whether the asset is a token, a stock or a futures contract. The agreement spans trading, custody, settlement, collateral management and tokenized assets, with the stated goal to give institutions “frictionless” access to both traditional and digital markets through one connected setup.“Our partnership with Deutsche Börse Group demonstrates what happens when two infrastructures designed for scale and trust intersect,” commented Arjun Sethi, Co-CEO of Kraken.We just announced a groundbreaking partnership with Deutsche Börse Group to bring TradFi & crypto closer than ever.FX via 360T is phase one. Derivatives, enhanced liquidity, Embed, & xStocks are next.Institutional access is getting a serious upgrade.https://t.co/rtunQkmtyn— Kraken (@krakenfx) December 4, 2025Phase One: FX and 360T IntegrationIn the first stage, Kraken will plug directly into 360T, Deutsche Börse Group’s foreign-exchange trading platform. That link will allow Kraken clients to tap bank-grade FX liquidity from one of the deepest pools in the market, which should tighten spreads and improve execution quality for fiat funding and withdrawals.The partnership also leans on Kraken Embed, the platform’s embedded infrastructure product, to broaden crypto access across Deutsche Börse Group’s network.Using white-label solutions, the two companies plan to help banks, fintechs and other financial institutions offer compliant crypto trading and custody directly to their own end clients in Europe and the U.S. This model allows institutions to add digital asset services without building full-stack crypto infrastructure in-house.Subject to regulatory approvals, Eurex-listed derivatives will become tradable on Kraken, giving the exchange’s clients a route into one of Europe’s main regulated futures and options markets.“By linking traditional and digital markets across a wide range of asset classes, we’re building a holistic foundation for the next generation of financial innovation: defined by efficiency, openness, and client access,” Sethi added.At the same time, Deutsche Börse Group customers will gain the option to trade cryptocurrencies and related derivatives via Crypto Finance and Kraken’s exchange. Custody for these activities will reportedly rely on Clearstream and Crypto Finance, both part of Deutsche Börse Group, which anchors the structure in existing regulated entities.Tokenized Equities and Clearstream AssetsA further strand of the deal focuses on tokenization through xStocks within the 360X ecosystem. By integrating this tokenized equity standard, the partners plan to increase the reach of digital representations of traditional securities.Finance Magnates recently reported that Kraken plans to acquire Backed Finance, the company that develops and issue tokenized equities xStocks. The exchange is gathering momentum ahead of a planned public listing in 2026.? We’re bringing @BackedFi, the company driving the issuance of xStocks, fully into Kraken.Why? Because tokenized equities won’t reach global scale without unified rails.With @xStocksFi now fully in-house, we’re accelerating the future of open, 24/7 capital markets ?…— Kraken (@krakenfx) December 2, 2025They also intend to enable the distribution of securities held in custody at Clearstream in tokenized form to Kraken’s client base, which would give investors new ways to access conventional instruments through blockchain rails.In return, Deutsche Börse Group will open its European infrastructure and services to Kraken’s global customers. Both sides present this as a step toward seamless connectivity between traditional markets and the digital asset economy. This article was written by Jared Kirui at www.financemagnates.com.

In a tense exchange that mirrored a sporting match more than a typical financial panel, two of the FX and CFD industry’s veterans faced off on whether the booming retail prop trading sector is a viable evolution of the market or a regulatory disaster in waiting.The debate, held at the Finance Magnates London Summit (FMLS:25), pitted Drew Niv, Chief Strategy Officer (CSO) at ATFX, against Brendan Callan, CEO of Tradu. By the end of the session, an audience that opened overwhelmingly in favour of the motion “Prop trading is good for the trading industry” had changed its mind and voted against it, handing a narrow win to the skeptic in the room.You can watch the full debate here, and below the video you’ll find a play-by-play of how the sentiment shifted.Kickoff: The Vote and The Value Proposition[Minute 00:00 – 10:00]The session opened with Jonathan Fine, the moderator, polling the room. The result was a landslide: 71% of the audience believed prop trading was net-positive for the industry.Drew Niv opened the defense. Acknowledging the sector’s "Wild West" reputation, he drew parallels to the retail FX market of 1999. His argument hinged on the sheer volume of users the model attracts. Niv posited that prop trading solves the brokerage industry's most expensive problem: the cost of acquisition."It’s that value proposition for the client that has drawn an audience, just in the last three years, that far surpasses the audience in the retail FX industry in terms of numbers," Niv said. He conceded the current economics are flawed but argued the influx of users creates a "great seeding ground" for future sophisticated traders.It is worth noting that ATFX entered the prop-trading space in 2024. According to the company, some of the clients acquired through this channel were later converted into brokerage accounts.Brendan Callan wasted no time tackling the opposition, dismissing the idea that these firms are proprietary trading operations at all. "As a company, you are what your revenue is. These companies – as bizarre as this is to say – sell demo accounts," Callan said.Callan targeted the marketing tactics prevalent in the sector, referencing a specific advertisement featuring breakdancers and luxury cars. "No offense to Honda, but if you’re going to pretend to be a baller, even the good people at Honda would suggest you try harder than that," he quipped, warning the audience that sending money to such firms is essentially "donating it to them".Second Half: Arbitrage Tactics and Solvency Concerns[Minute 10:00 – 25:00]The debate intensified as the executives dug into the mechanics of the trade. Callan outlined a strategy he dubbed the "four-challenge arbitrage," detailing how traders can hedge positions across multiple accounts to game the system. He argued that because the model relies on failure fees rather than market execution, firms are incentivized to deny payouts based on technicalities."They’re using other information... ‘You made too much of your profits on one single day’... Any slew of reasons they can come up with to deny profit-share payments," Callan argued, describing the environment as a "cesspool of cat-and-mouse gamesmanship".Niv did not shy away from the flaws, admitting that the current "no risk, high reward" offers are unsustainable. "It is mathematically unrealistically good, and therefore even I would say dishonest," Niv said. However, he maintained that capitalism would act as a "fixing mechanism," weeding out firms that fail to pay while the model matures into a legitimate funnel for regulated brokers.Late Game: The “Ponzi” Allegations[Minute 25:00 – 35:00]The tone darkened during the Q&A session when the discussion turned to firm solvency. Responding to questions about firms delaying payouts, Callan read a written statement from The Funded Trader (TFT), which admitted being behind on profit payments for 3,300 people, some overdue for more than a year. The statement said: “More revenues equals more payouts equals more testimonials equals more profit for TFT. More funds to pay back owed payouts and accounts leads to reputation restored.” Callan told the room this amounted to the firm acknowledging a Ponzi‑like structure: using new challenge fees to catch up on old obligations."He’s saying himself: I need to sell more challenges so I can pay the overdue payouts that I’m past due,” he added.An audience member attempted to reframe prop trading as a "home game" of poker, a low-stakes environment for learning, compared to the "casino" of high-leverage brokerage accounts. While Niv agreed that the "home game" appeal explains the traffic, Callan rejected the analogy, insisting that buying an option to "gamify a system" is not real trading.Final Score: The Sentiment Flip Against Prop[Minute 35:00 – End]With time running out, Fine called for a second vote. The pre‑debate poll had shown roughly 71% in favor of the motion that prop trading is good for the trading industry and 29% against. After nearly 40 minutes of back‑and‑forth, live questions and a tour through everything from arbitrage tactics to regulatory loopholes, the post‑debate vote moved into “disagree” territory, with the audience deciding that prop trading is not, on balance, good for the industry.​"After hearing Brendan making the case, after hearing Drew talking about the value for the industry, you have decided again that prop trading is not good for the industry," Fine announced, noting the "disagree" camp had taken the lead.To close, he handed out a tongue‑in‑cheek hoodie reading: “I passed the FMLS prop debating challenge and the only payout I got is this hoodie,” before sending attendees off to the awards ceremony.While the "prop" model continues to generate massive volume, the London debate suggests that industry insiders are becoming increasingly wary of the reputational risks and financial stability of the unregulated firms driving the trend. This article was written by Damian Chmiel at www.financemagnates.com.

The Financial Commission has approved RA Prime as its newest member, effective today (Thursday). The brokerage offers foreign exchange and CFD products globally.Earlier this year, FP Markets, OneRoyal, FXON, and GTCFX were approved as new members. Last year, Neex, an online brokerage offering Forex, Indices, and Commodities, also joined the Commission.Financial Commission Offers €20K Client CoverageRA Prime was founded in 2018. The approval allows the firm and its clients to access the Financial Commission’s services, including dispute resolution and coverage of up to €20,000 per complaint through its Compensation Fund.Independent Platform Mediates Complaints in Forex, CFD MarketsThe Financial Commission provides an independent platform to mediate complaints when “parties cannot resolve disputes directly”. For members involved in CFDs, forex, and cryptocurrency markets, the platform aims to offer a “quicker resolution” than typical regulatory or court channels.Financial Commission warns of fake funds recovery or chargeback offers - To combat this issue, FinaCom stated that it does not offer funds recovery or chargeback services, nor does it engage in unsolicited communication with traders. Official interactions originate only from... pic.twitter.com/IktCkJvWEW— The Industry Spread (@industryspread) February 16, 2024Financial Commission Warns Against Scammers Targeting TradersEarlier, the Financial Commission updated its investigation into a scam involving individuals falsely claiming to represent the Commission. These imposters targeted traders who experienced losses or blocked withdrawals from brokers such as Umarkets, TPG Deals, and others. They offered supposed funds recovery and chargeback services in exchange for fees.The scammers also issued fake guarantee letters through entities claiming to be legal firms, including Orbital Limited and AK Law. They used counterfeit contact information resembling legitimate digital wallet providers like Blockchain.com to mislead victims into paying for non-existent services.The Financial Commission stated it does not provide funds recovery or chargeback services, does not contact traders unsolicited, never uses social media or messaging apps for official communication, and does not issue guarantee letters. Its services remain free for clients of member brokers. This article was written by Tareq Sikder at www.financemagnates.com.

The crypto exchange XBO.com has expanded with the addition of tokenized stocks, giving users round-the-clock access to some of the most widely traded equities in global markets.The new feature introduces tokenized versions of major U.S. stocks, including Apple, NVIDIA, Tesla, Microsoft, Google, Amazon, Meta, Eli Lilly, and a few others, which can be traded against USDT. Each token represents a share backed on a 1:1 basis, offering a crypto-native path to traditional equities.One of the platform’s key selling points is accessibility: users can buy fractionalized positions starting at $3 and trade without a brokerage account or market-hour restrictions.The Co-Founder & COO at XBO.com Lior Aizik stated that the exchange sees tokenized assets as a natural next step in connecting traditional markets with crypto infrastructure. “We’re merging the familiarity of equity trading with the flexibility and transparency of digital assets,” he said.The move comes as tokenization continues to gain traction across the digital asset industry. Major financial institutions, from asset managers to brokers, have been experimenting with blockchain-based representations of real-world assets. XBO.com’s approach focuses on integrating equities directly into a crypto-first trading interface, aiming to simplify access for users who prefer holding and transacting in digital currencies.The launch also sets the stage for the company’s next milestone: bringing CFDs to the platform. These derivatives, expected to cover stocks, indices, commodities, and additional asset classes, will target short-term and leveraged strategies. This is effectively giving users two different modes of exposure within a single trading environment.XBO.com emphasized that the addition of tokenized stocks is part of a broader effort to build a more diversified trading ecosystem that caters to retail participants looking for simple entry points and experienced traders seeking advanced tools. The exchange has been gradually expanding its offering as it positions itself as a more comprehensive hub for digital finance.Users can already start trading stocks and digital assets on their platform. This article was written by FM Contributors at www.financemagnates.com.

Eugene Investment & Futures has rolled out US-listed equity and index options trading to South Korean retail clients, making complex options strategies available through the country's most-used mobile payment platform for the first time.Eugene Investment Launches US Options Trading in South Korea The Seoul-based brokerage tapped Devexperts to build the trading infrastructure, combining the London software firm's DXtrade backend with a custom mobile interface and real-time market data from dxFeed. The system routes complete OPRA options data through Amazon Web Services servers in South Korea to minimize latency between US exchanges and Korean traders.Eugene Investment, founded in 1991, operates one of South Korea's largest retail brokerages with a focus on derivatives trading. The firm is betting that Korean appetite for US equities will extend to options on those stocks, a product category that hasn't been widely available to retail clients in the market until now."Korean investors are enthusiastic about trading US stocks, and options trading based on US equities is also expected to gain significant popularity," said Sookoo Lee, CEO of Eugene Investment & Futures. "To provide Korean retail investors with a reliable and advanced US options trading service, we were looking for a partner with proven technical expertise and a strong track record."FinanceMagnates.com informed this week, that the local market regulator decided to tighten the Forex trading rules, due to the heightened retail investors risks. Mobile Interface Targets Mass MarketThe platform runs on a newly developed UI framework that Devexperts customized for the Korean market. The interface displays real-time Greeks, implied volatility readings, and theoretical option prices - data points typically reserved for institutional trading desks.Devexperts said the architecture can scale to support several hundred thousand active users simultaneously. The backend connects to dxFeed's market data infrastructure, which pulls quotes and trade data directly from US exchanges and pipes them to clients through AWS's Korean data centers.Jon Light, Senior Director of Product Management at Devexperts, said the Eugene Investment project required close collaboration to tailor the software for South Korean trading patterns. "This product has all the hallmarks of what we at Devexperts aim to deliver for our clients: products that empower our clients whilst helping them redefine retail trading as we know it," Light said.Devexperts Expands Product SuiteThe Eugene Investment rollout follows several recent product launches from Devexperts. In November, the company unveiled a prediction markets platform aimed at brokers looking to offer event-based contracts, a product category that's gained traction in the US through platforms like Kalshi and Polymarket. That same month, Devexperts integrated oneZero's Market Analytics tool into its DXcharts platform, giving users access to automated technical signal detection across multiple asset classes.In September, Devexperts launched DXwallet, a framework for building cryptocurrency custody solutions that plug into existing fintech infrastructure. The modular system includes AML screening, portfolio tracking, and cross-platform connectivity features.The new platform went live this week with full OPRA options coverage, including real-time pricing for both equity and index options listed on US exchanges. Eugene Investment hasn't disclosed user projections or revenue targets for the new service. This article was written by Damian Chmiel at www.financemagnates.com.