ANZ Bank New Zealand will pay $3.25 million to settle charges it misled customers about fees and wrongly demanded repayment of mortgage incentives, the country's Financial Markets Authority (FMA) announced today (Monday).ANZ Pays $3.25 Million After Admitting to Customer OverchargesThe bank admitted to two separate breaches of fair dealing laws in an enforceable undertaking with regulators. The settlement covers conduct spanning more than a decade, affecting hundreds of thousands of customers.ANZ charged customers improper fees when their accounts went into unarranged overdraft between December 2012 and May 2023. The bank collected both overdraft fees and excess interest even when payments were ultimately rejected - a practice that violated its own terms and conditions."ANZ's terms and conditions only allowed either the unarranged overdraft fee to be charged, or the payment to be dishonored," FMA Head of Enforcement Margot Gatland said in a statement.It is worth noting that the same bank paid a $15 million fine for the very same case two years ago in neighboring Australia, when the matter was handled by the local ASIC.Overdraft Fees Hit 200,000+ CustomersSince fair dealing laws took effect in April 2014, the improper overdraft charges affected 209,960 ANZ customers. The bank collected $4.37 million in improper fees: $3.49 million in overdraft charges and $879,078 in excess interest.ANZ has already paid back affected customers, including $1.02 million in "use of money" payments that compensate for the time customers went without their funds. The bank contacted current customers directly and made "reasonable attempts" to reach former customers who could claim refunds.The second violation involved ANZ's handling of cash contributions it paid customers who took out new home loans. These incentive payments came with strings attached - customers had to keep their banking with ANZ for two to three years or face demands to repay the money.You may also like: New Zealand Seeks Industry and Investor Views on Tokenized AssetsFalse Claims About Mortgage IncentivesWhen customers moved to discharge their mortgages within the required timeframe, ANZ assumed they were switching banks and demanded repayment of the cash contributions. But the bank later discovered it couldn't verify that 1,019 customers had actually violated their agreements by moving their business elsewhere."By requesting these customers to repay the cash contribution on the basis that they had moved their banking to a competitor ANZ breached" fair dealing laws, Gatland said. The false representations occurred between August 2014 and August 2022.ANZ refunded $2.43 million in cash contributions to those 1,019 customers, plus $582,030 in use of money payments.The bank has since changed how it handles mortgage discharges, requiring customers to explain their reasons and clarifying when repayment of incentives is actually required.FinanceMagnates.com also recently reported on overcharging at Deutsche Bank, for which Hong Kong's securities regulator fined the banking giant $24 million after uncovering $39 million in excessive fees over an eight-year period.Self-Reported Violations Lead to SettlementANZ discovered and reported both issues to regulators itself, earning acknowledgment from the FMA for its cooperation during the investigation. The $3.25 million payment breaks down as $2.08 million for the overdraft fee violations and $1.17 million for the mortgage incentive breaches."Banks are required to ensure representations they make to customers about overdraft fees and cash contributions are not misleading and do not cause harm to customers," Gatland said. "ANZ made false representations in both instances."The settlement includes a commitment from ANZ to develop better policies and systems to prevent similar problems. The bank must also identify any additional customers harmed by the mortgage incentive issue and provide refunds."It is essential that customers can continue to have confidence in their bank," Gatland said. "We will continue to respond to misleading practices to help ensure New Zealand has fair, efficient and transparent financial markets." This article was written by Damian Chmiel at www.financemagnates.com.

Stripe-backed Tempo taps Simon Taylor for blockchain paymentsTopping our list of the latest executive moves, Tempo, a payments-focused Layer 1 blockchain incubated by Stripe and Paradigm, appointed Simon Taylor to a full-time role.Taylor is stepping back from his day-to-day position as a strategic advisor at fraud prevention platform Sardine after more than three years, but will remain involved with Sardine in an advisory capacity.Show more about Tempo's latest appointment of Simon Taylor.Traze CEO announces exitElsewhere, Traze CEO Erkin Kamran stepped down from his role to pursue a new venture at the intersection of traditional finance and Web3.Kamran said his next project will focus on trading and fintech innovation, inviting industry peers to connect on areas such as product, liquidity, and go-to-market strategies. Traze recently secured a license in the United Arab Emirates.Highlight more about Traze's top leadership changes.FYNXT has a new chief revenue officerFYNXT named Stephen Miles as the new Chief Revenue Officer, tasking him with leading the company’s global sales and marketing strategy, among other responsibilities.Miles joins from OpenText, where he most recently served as Global Vice President and GM of Software Services. He previously held senior roles at OpenText and Micro Focus, including Vice President and GM for Software Services in EMEA.Discover more about FYNXT's appointment of Stephen Miles as the new Chief Revenue Officer.Moomoo exec moves to IG Singapore as CEOAlso this week, IG Group named Gavin Chia CEO of IG Singapore & Emerging Markets. Chia previously served as CEO of Moomoo Singapore, where he also served as COO.Before that, he was Managing Director at Futu Singapore, where he played a key role in establishing the firm’s local operations and licensing.Learn more about Moomoo's appointment of Gavin Chia of IG Singapore.Ex-CMC CFO joins London digital firmIn the UK, Albert Soleiman, former Chief Financial Officer of CMC Markets, joined a London-based company specializing in web design, development, and online marketing.His move comes months after stepping down from his role at the London-headquartered broker. Soleiman left CMC Markets in February, when the company announced his immediate departure as CFO and confirmed he also stepped down as a director. Find out more about Albert Soleiman's latest appointment.Spotware Systems’ former PR Manager launches own startupLastly, Rosemary Barnes, a seasoned PR professional with experience in fintech and crypto, launched her own agency, PR Plug. The new venture will focus on supporting firms in forex, cryptocurrency, fintech, and artificial intelligence.Barnes previously served as PR and Media Manager at CoinPayments for just over a year and spent more than four years leading PR and marketing at B2Broker. She also held roles at Spotware Systems and other industry firms.Display more about Rosemary Barnes' latest PR venture. This article was written by Jared Kirui at www.financemagnates.com.

Market analysts are closely monitoring Bitcoin's technical setup as the cryptocurrency navigates September trading at $110,804, following Friday's volatile session marked by weak NFP data and bearish candle formations. With historical September performance showing average declines of 3.77% and technical indicators suggesting potential deeper corrections, understanding key support levels becomes crucial for assessing Bitcoin's near-term trajectory.Current Bitcoin Market Setup: Bearish Signals EmergeBitcoin started September trading around $108,253 but has recovered to $110,800 after Friday's volatile session that saw prices spike to $113,384 before closing near $110,700. According to my technical analysis, the bearish doji candle drawn during Friday's session—featuring a very long upper wick and extremely narrow body, could signal a sell-off to deepen the correction.Key Friday developments:Bitcoin opened just below $111,000Reached intraday high of $113,000+NFP data triggered sharp reversal (22,000 jobs vs 75,000 expected)Closed at $110,700, below opening priceUnemployment rose to 4.3% from 4.2%The bearish candle formation proved significant because it occurred below the support zone established since early July around $112,000, the historical maximum from May 2025 that later served as support in August. This level has now been definitively broken, and Bitcoin is testing it from below according to polarity conversion principles in technical analysis.Bitcoin Expert Technical Analysis: $100K-$104K Target ZoneAccording to my comprehensive technical analysis, Bitcoin currently faces reasonable resistance strengthened by the 50-day exponential moving average (50 EMA) and the 23.6% Fibonacci retracement measured from April lows to August's historical maximum above $124,000.While Bitcoin has several local support levels including $110,000 and $108,000 coinciding with September lows, the key support level is located significantly lower. I'm currently targeting a technical correction toward the zone stretching from $104,000 to the psychological $100,000 level.This narrow $4,000 range encompasses:200-day exponential moving average (200 EMA)50% Fibonacci retracementPsychological six-figure levelCoincides with early and late June lowsThis represents an accumulation of many important technical levels that could concentrate buy orders. A drop to the mentioned zone would represent only a 20% correction, which isn't particularly dramatic for Bitcoin markets.I want to emphasize that I don't believe Bitcoin faces an end to its upward trend: this would simply be a healthy technical correction, and declines to the mentioned zone would be utilized as entry opportunities.Analyst Bitcoin Price Predictions: Bearish Scenarios Range $78K-$95KPeter Brandt's Head-and-Shoulders: $78K TargetLegendary technical analyst Peter Brandt warns of a potential crash to $78,000 based on a 45-day head-and-shoulders pattern formation. Brandt's analysis suggests this could complete and trigger a significant decline, though he cautions that "charts do NOT predict anything. Charts merely suggest possibilities."CoinShares: Policy Disappointment Could Trigger $80KJames Butterfill from CoinShares sees potential for Bitcoin to correct to $80,000 if there's "disappointment surrounding Trump's proposed crypto policies and doubts about their enactment". This represents a more fundamental-driven bearish scenario tied to regulatory uncertainty.TradingView Expert: $99K Crash LoadingCrypto analyst MelikaTrader94 forecasts an imminent crash below $100,000 as bears take control. The analysis highlights a descending trendline acting as strong resistance, with Bitcoin lacking momentum for sustained upward movement. A drop to $99,000 could "shake out weak hands" before any sustainable rally resumes.ITB Broker: Worst Case $72K-$75KITB Broker's analysis presents the most bearish scenario, suggesting that if the $105,000 support breaks, selling pressure could push Bitcoin to $96,000, with extreme downside potentially reaching $72,000-$75,000.Historical Context: September's Brutal Track RecordBitcoin price predictions must account for September's devastating historical performance. Since 2013, Bitcoin has posted average returns of -3.77% in September, closing red in 8 of the past 12 years.Why September typically brings selling pressure:Portfolio rebalancing by institutional investors before fiscal year-endTax loss harvesting to optimize yearly returnsReduced summer liquidity amplifying volatilityPsychological selling based on historical patternsHowever, Rekt Fencer argues that "a September dump is not coming" this year, citing similarities to 2017 when Bitcoin found support after August weakness before "rocketing to $20,000".NFP Impact: Jobs Data Triggers VolatilityFriday's Non-Farm Payrolls miss (22,000 vs 75,000 expected) initially boosted Bitcoin as markets priced in higher Fed rate cut probability. However, the volatile reaction saw Bitcoin give back gains, confirming the market's uncertain direction amid mixed economic signals.Market pricing now shows:100% probability of 25-basis-point Fed cut in September14% chance of 50-basis-point cutDollar weakness despite risk-off sentiment in equitiesSupport Levels: Where Bitcoin Could Find FootingInvestingHaven's "Buy the Dip" Zone: $78K-$82KInvestingHaven analysts identify their primary "buy the dip" target between $78,000-$82,000. This zone represents approximately 25-30% correction from current levels and aligns with historical major support areas.Changelly's Conservative $108K FloorChangelly's September predictions show a minimum target of $108,802 with average prices around $119,470. This represents the most conservative downside scenario among major forecasting platforms.Binance Technical Levels: $105K-$100K RangeBinance Square analysis highlights the $105K-$100K threshold as the nearest critical zone requiring attention. This aligns with my technical analysis identifying the same range as primary support.FAQ: Bitcoin Downside Potential 2025How low could Bitcoin realistically fall in September 2025?Technical analysis suggests $100K-$104K as primary targets, with extreme scenarios reaching $78K-$95K range.What would trigger a deeper Bitcoin correction?Breaking below $105K support could accelerate selling toward $95K-$99K levels, while policy disappointments could target $78K-$80K.Is the $100K level significant for Bitcoin?Yes, it represents psychological support, 200-day EMA convergence, and 50% Fibonacci retracement from the April-August trend.Could Bitcoin's correction be healthy for long-term growth?Most analysts view 20% corrections as normal and healthy, providing accumulation opportunities before the next leg up. This article was written by Damian Chmiel at www.financemagnates.com.

Kraken steps into prop tradingProp trading is attracting a new market segment: crypto. This week, Kraken acquired Breakout, a proprietary trading firm that provides traders with access to capital for executing strategies. The acquisition marks Kraken as the first cryptocurrency exchange to enter the proprietary trading space.NEW: Kraken acquires Breakout to launch performance-based prop trading on Kraken Pro pic.twitter.com/bcyD8aMih6— Blockworks (@Blockworks_) September 4, 2025Unlike traditional prop trading firms, which offer funded accounts but no exchange platform, Kraken is combining its exchange infrastructure with Breakout’s evaluation-based trading model.RoboMarkets secures Dubai licenseIn the regulatory front, RoboMarkets, which recently exited the retail CFDs market in Europe, obtained a license in Dubai. The approval, classified as “Dealing in Securities,” allows firms to operate as trading and clearing brokers, trading brokers in global markets, brokers for non-exchange-traded derivatives and spot FX, on-market trading brokers, and securities dealers.AETOS closes offshore CFDs operationHowever, not all brokers are expanding. AETOS, which surrendered its United Kingdom license in June, closed its offshore operations under the Mauritius-licensed entity. The CFD broker also stopped onboarding new clients through its offshore unit.According to an AETOS spokesperson, the move is part of a broader strategic review to exit certain offshore markets, including entities regulated in Mauritius and Seychelles.EC Markets’ profit up 15%In numbers this week, EC Markets Group closed 2024 with stronger earnings as revenue nearly doubled year-on-year. The forex and CFD brokerage reported a turnover of $3.24 million, up from $1.71 million in 2023, alongside higher profits and an improved balance sheet despite rising costs. Operating profit almost doubled to $614,622 from $315,933, while net profit rose 14% to $513,869 from $448,157. Administrative expenses climbed 58% to $1.64 million, but gross profit still increased to $2.26 million from $1.35 million, highlighting a year of growth for the firm.Valutrades cuts 2024 lossAt the same time, UK-based Valutrades narrowed its annual loss in 2024 despite continued challenges from lower client activity and revenue pressures. For the year ended December 31, 2024, Valutrades posted a net loss of £2.59 million, an improvement from the £3.82 million loss recorded in 2023. Revenue rose 27% to £1.94 million from £1.52 million a year earlier.eToro shares jumpIn the fintech space, shares of eToro rose 5.25% on Tuesday to close at $46.73, marking the trading platform’s strongest single-day gain since July 23 and one of its best sessions since its Wall Street debut in May.eToro Key Performance Metrics TableThe surge followed eToro’s release of business metrics for July and August, showing sharp momentum across core indicators. Assets under administration climbed to $19.7 billion in August, up 77% from a year earlier, underscoring the platform’s rapid expansion.eToro also added support for USD Coin, a fiat-backed stablecoin issued by Circle and Coinbase through the Centre Consortium, designed to maintain a 1:1 peg with the U.S. dollar. Regulators rein in CFDsMeanwhile, institutional interest in contracts for difference (CFDs) is on the rise as portfolio managers increasingly adopt themfor hedging purposes. This approach helps avoid the costs of closing and reopening positions, as well as potential capital gains tax liabilitiesFor many funds, CFDs can serve as an efficient tactical tool for short-term positioning, hedging or market access when physical settlement is not required.Crypto regulations ease in the USIn the crypto space, regulations are easing in the US. The Securities and Exchange Commission and the Commodity Futures Trading Commission said that exchanges registered with either regulator are not prohibited from facilitating trades in specific spot commodity products, including some crypto assets.? The NYSE, Nasdaq, CBOE, CME, etc, will soon have spot trading for BTC, ETH, and more. https://t.co/qZo3YsYDQA— matthew sigel, recovering CFA (@matthew_sigel) September 2, 2025Still with matters of regulation, fraudsters are taking advantage of the UK’s upcoming corporate transparency reform by sending phishing emails to company directors about fake identity verification requirements. Companies House has issued a warning that the messages are fraudulent and urged directors not to act on themTop crypto firms eye crypto custody servicesIn contrast, the UK has taken a more restrictive stance. Retail investors still face limits on access to spot crypto trading, and no clear framework exists for mainstream exchange listings.Several of the world’s largest banks are stepping up their cryptocurrency custody strategies, including State Street and JPMorgan Chase. The move comes as most stablecoin transactions continue to occur outside the traditional banking system, even as these digital assets edge closer to mainstream payments use.Six RegTech firms mergeSix regulatory technology firms have combined to form a new entity called ComplyMAP Group. The merger brings together Complyport, MAP S.Platis, MAP FinTech, Quadprime, MAP RMS, and MAPiTek under a single brand.As part of the consolidation, Quadprime, MAP RMS, and MAPiTek have been integrated into Complyport. The newly formed group will expand its services in operational resilience, cybersecurity, and prudential regulation, with coverage extending across the UK, European Union, and the UAE.FX brokers skim £22m from Premier League clubsLastly, Premier League clubs paid over £22 million in hidden foreign exchange (FX) fees during this summer’s transfer window, according to new analysis. The study, conducted by financial platform Glyde, examined 71 permanent transfers between June 16 and September 1 involving English clubs converting pounds into euros to sign players from leagues such as the Bundesliga, La Liga, and Serie A. This article was written by Jared Kirui at www.financemagnates.com.

The U.S. Securities and Exchange Commission has taken a major step to protect American investors from fraud originating overseas. By forming a dedicated Cross-Border Task Force, the regulator aims to identify and combat manipulative practices by foreign companies seeking access to U.S. markets. Focus on Foreign-Based ManipulationThe newly established task force will initially investigate potential violations of U.S. federal securities laws tied to foreign companies. Among its priorities are market manipulation tactics, including “pump-and-dump” and “ramp-and-dump” schemes. The team will also scrutinize gatekeepers such as auditors and underwriters who facilitate foreign companies’ access to American capital markets, ensuring they meet regulatory standards.“We welcome companies from around the world seeking access to the U.S. capital markets,” said SEC Chairman Paul Atkins. “But we will not tolerate bad actors, whether companies, intermediaries, gatekeepers, or exploitative traders, that attempt to use international borders to frustrate and avoid U.S. investor protections.”Atkins added: “This new task force will consolidate SEC investigative efforts and allow the SEC to use every available tool to combat transnational fraud.”Read more: The Dukascopies: The Broker Warns Against 18 ClonesThe SEC is particularly attentive to firms from jurisdictions like China, where government involvement and other local factors increase investor risk. These efforts highlight the agency’s commitment to confronting challenges that arise from globalized financial markets.SEC Leadership CommentsAtkins also noted that the agency is exploring additional measures across multiple divisions, including potential new disclosure requirements and rule changes to strengthen investor protection.By consolidating investigative resources and coordinating across divisions, the SEC aims to respond swiftly to cross-border threats, signaling to international companies that U.S. investor protection remains a top priority.A June report from identity verification firm Veriff showed that one in every 20 ID verification attempts in financial services is now fraudulent, highlighting a sharp rise in online scams.The report found that identity fraud in the financial sector jumped 21% over the past year, underscoring the escalating risks posed by emerging technologies. Over a third of U.S. consumers surveyed said they suffered financial losses that couldn’t be recovered. The damage is not limited to individuals. This article was written by Jared Kirui at www.financemagnates.com.

Dukascopy Bank SA has warned traders and investors after identifying 18 fraudulent websites pretending to be its official platform. According to the CFD broker, these clones are designed to trick users into sharing personal information and misrepresent the bank’s services. The move underlines the growing risk of online scams in the financial sector.“These websites are not controlled and do not belong to Dukascopy Bank, Dukascopy Europe, Dukascopy Japan, or any other entity of Dukascopy Group,” the company said in a statement. “Do not trust the information on these sites, and never provide your personal data.”Fraudsters Clone Dukascopy Across 18 DomainsIn the latest warning, Dukascopy has identified fraudulent domains mimicking aspects of the bank’s official website, including:http://dukascopynet.tophttp://dukascopy-net.tophttps://dukascopy.com.cohttps://dukascopy-node.apphttps://ko-dukascopy.comhttps://dukascopy-ku.comhttps://dukascopys.cyouhttps://dukascopybank-refundbusiness.comhttps://dukascopy-bank.metasaurus.chhttps://dukascopy-bank.shotinvancouver.comhttps://dukascopy-refundapp.comhttps://digitaldukascopy.inhttps://dukascopygroupltd.comhttps://dukascopys.cfdhttps://dukascop.cyouhttps://dukascops.sbshttps://dukascop.picshttps://dukascop.myClone websites copy the branding, logos, and regulatory details of legitimate firms to create the appearance of authenticity. Their goal is to lure unsuspecting users into depositing funds or sharing sensitive data.Read more: CySEC Tightens CFD Rules for Retail Clients, Limiting Leverage on Certain ContractsUnlike phishing emails, clone websites can appear fully functional, with fake trading platforms or registration forms that look genuine. This makes them particularly dangerous for retail investors.Dukascopy’s ResponseThe bank is reportedly taking legal and technical measures to shut down these fraudulent domains. While enforcement can be challenging across multiple jurisdictions, Dukascopy has urged its users to double-check URLs, use official links, and verify any communication claiming to be from the bank.It is not the first time the broker has cautioned traders against such clones. Nearly two years ago, it issued a warning about a fraudulent website operating under the domain https://www.dukascopys.top. Like in the latest warning, the firm mentioned that the website is not under the control or ownership of Dukascopy Bank, Dukascopy Europe, Dukascopy Japan, or any other entity within the Dukascopy Group.Besides fighting scammers, Dukascopy maintains a strong financial performance. Last month, the company reported a profit of CHF 3.32 million, up from CHF 19,800 in the same period of 2024. On a consolidated basis, including subsidiaries, profit reached CHF 3.29 million, compared with CHF 80,800 a year earlier. This article was written by Jared Kirui at www.financemagnates.com.

The Cyprus Securities and Exchange Commission has issued an amending directive restricting the marketing, distribution, and sale of contracts for difference to retail clients. The update revises the existing rules on CFDs to retail investors.Under the amendment, a 10% notional value cap has been introduced for CFDs on certain previously unlisted commodities and stock indices, limiting the leverage retail investors can take. The directive takes effect from its publication in the Official Gazette of the Republic.Cyprus Regulator Revises CFD Investor LimitsCySEC said the measure aims to strengthen investor protection by limiting exposure to high-risk CFD products. The amended directive and the original framework from 2019 will now operate together, covering the period from 2019 to 2025.It seems CySEC is trying to limit regulatory arbitrage by tightening rules, positioning itself as a stricter regulator in line with more restrictive EU jurisdictions.CySEC Updates Oversight, Sanctions, and Capital Requirements for BrokersCySEC continues to strengthen oversight of the financial sector. Chairman Dr. George Theoharides highlighted the commission’s focus on investor protection, market stability, and responsible growth, noting rising regulatory demands, digital transformation, and upcoming MiCA and DORA regulations. CySEC supervises over 830 entities and has a 2025 budget of €17.5 million for staff and technology.CySEC has also introduced a framework to enforce EU and UN sanctions more effectively across all regulated firms, including CFD brokers. The framework establishes procedures for identifying breaches and created the National Sanctions Implementation Unit under the Finance Ministry. Firms must enhance controls, monitor transactions, and report suspicious activity.From early 2025, CySEC will implement new European Banking Authority guidelines for FX and CFD brokers operating as Cyprus Investment Firms. The rules clarify the group capital test under the Investment Firms Regulation, covering capital adequacy, risk management, and governance. Low-risk firms may apply for reduced capital requirements, while CySEC retains authority to revoke permissions if conditions change. This article was written by Tareq Sikder at www.financemagnates.com.

The Financial Conduct Authority has opened an investigation into whether the London Stock Exchange Group and the landlord of the LSE data centre building have restricted competition for low latency connectivity services between trading venues.LLCS providers build high-speed links between venues, enabling trading firms to execute transactions in very short timeframes. To maximise speed, providers often place radio equipment close to the exchanges. At present, only LSEG is allowed to use the rooftop of the data centre building to install such equipment.Concerns Over Exclusive Rights and Competition ImpactThe FCA said it is concerned that LSEG’s exclusive rights to the rooftop, along with its policy at the LSE trading venue, could prevent rival LLCS providers from installing equipment. This may give LSEG’s own service an advantage and reduce competition. The investigation focuses on connections between the LSE trading venue in London and two other UK venues, Cboe Europe and ICE.Proposed Commitments from LSEG and LandlordTo address these concerns, LSEG and the landlord have proposed to end LSEG’s exclusive rooftop rights. Under the plan, LSEG would continue to use part of the rooftop, but equivalent space would be offered to third parties on what the FCA describes as a fair and reasonable basis.Public Consultation on Rooftop Access ProposalsThe FCA has provisionally said these proposals may resolve its competition concerns. A consultation on the commitments opened on 5 September 2025 and will run until 29 September 2025. Interested parties can submit responses by email.You may find it interesting at FinanceMagnates.com: Nearly 500 Victims Fall for Fake FCA Recovery Scams This Year. The commitments have been offered under the Competition Act 1998, which allows firms under investigation to make binding promises on their future conduct. The FCA has discretion on whether to accept such commitments and must first consult affected third parties.Regulator Makes No Finding of BreachThe regulator has not reached any conclusion on whether competition law has been breached. It also noted that the commitments do not represent an admission of infringement by LSEG or the landlord. This article was written by Tareq Sikder at www.financemagnates.com.

XRPUSD has shown signs of a bullish reversal after forming a Double Bottom at an intraday support level. A bullish engulfing candle at the second bounce, followed by a breakout above the Double Bottom’s resistance, suggests the cryptocurrency may continue its upward momentum in the near term.Analysts note that XRP could be positioned for further gains, citing key support levels and potential market catalysts. Technical patterns, historical four-year cycles, and the potential approval of an XRP ETF are highlighted as factors that may shape both short- and long-term price movements.Potential XRP Upswing Amid Key Support HoldCrypto analyst CoinsKid shared a technical analysis on YouTube, focusing on XRP and Bitcoin. He highlighted a potential parabolic growth curve forming in certain altcoins, suggesting significant upward movement could follow if the trend continues. CoinsKid noted XRP’s recent gains while holding key support levels and cautioned that a correction could occur before another upward leg."For XRP, if it can hold the medium range and we don't fall below this key level support, XRP is gearing up for another run here," he noted.You may find it interesting at FinanceMagnates.com: Bitcoin Faces Drop; This Analyst Flags “Three Bars Down” Pattern for BTC Traders.For Bitcoin, CoinsKid identified both bullish and bearish patterns on short- and medium-term charts. He pointed to technical indicators, including wedges, RSI, and support-resistance levels, as tools to anticipate potential market moves, noting that corrections could present buying opportunities for traders.Hey CKCNew #xrp video out, have a great day! https://t.co/mWfUvC8Cbn— CoinsKid (@Coins_Kid) September 4, 2025Analysts Project Mixed Short- and Long-Term XRP TargetsA cryptocurrency analyst on the YouTube channel YourPOP highlighted potential market gains for October 2025, citing historical four-year cycles. Despite a recent 5% weekly drop, XRP remains up around 400% year-to-date. The analyst noted the possible approval of an XRP ETF as a key factor, with betting markets indicating an 87% chance in October. Oscar Ramos observed that XRP holders have remained resilient, with the asset trading near $2.70. Historical trends show weaker performance in September and stronger performance in October and November, with $2.70 noted as a potential buying level.Discover Crypto noted that larger XRP allocations may have limited returns unless prices reach extreme levels, and technical indicators such as tightening Bollinger Bands in the XRP/BTC pair suggest potential for notable movement.Analysts have provided varying projections: CoinsKid sees short-term support at $2.66 and a minimum upside of $4.13; Cilinix Crypto targets $3.07–$3.13 near-term, with $3.30 as longer-term resistance; DeepSeek AI expects $3.50–$5.00 by late 2025 and $8–$15 by 2030. Forecasts from James Crypto Space and Zack Rector suggest ranges up to $9 and $5–$15, respectively, all dependent on market conditions, regulations, and adoption trends. This article was written by Tareq Sikder at www.financemagnates.com.

Spotware Systems, developer of the premium cTrader platform, has unveiled its redesigned corporate website. The new experience reflects the company’s commitment to innovation and to delivering clarity, transparency, and measurable value for its institutional clients in the FX/CFD trading industry.“This redesign was built with ourclients and partners in mind. Executives at brokerages and prop firms can now access tailored value propositions and essential resources faster and more intuitively. Our aim was to create a modern, premium-looking platform that underscores Spotware’s positioning and supports our clients in communicating their own advantages to traders. Going forward, the website will serve as a dynamic showcase of our innovation and will be continuously enriched with new content and features.” — Roman Snegirev, Head of Marketing, Spotware SystemsBuilt around dedicated journeys for brokerages and prop firms, the site streamlines navigation and makes tailored value propositions easy to find. Professionally crafted visuals and concise content highlight Spotware’s premium positioning, while an updated media kit provides ready-to-use logos, visuals, and brand materials for partners and media representatives.Highlights of the redesign● Fresh, modern design: A clean, consistent brand identity with custom visuals.● Enhanced UI/UX: Intuitive navigation and a streamlined structure tailored to executives at brokerages, prop firms, and white-label providers.● Dedicated audience focus: Distinct sections for brokerages and prop firms with clear, accessible value propositions.● Striking visuals & concise content: Professionally crafted graphics and messaging that reinforce Spotware’s premium positioning.● New media kit: Updated resources for partners and media representatives, including logos and visual assets.● Commitment to innovation: The new site underscores Spotware’s ongoing dedication to delivering cutting-edge solutions for the FX/CFD industry.The new website serves not just as an information hub but as a strategic tool, reinforcing Spotware’s role as a trusted partner for brokerages and prop firms across the globe. This article was written by FM Contributors at www.financemagnates.com.

At a worshipful State Dining Room, Big Tech courted policy access, celebrated a lighter regulatory touch, and flashed trillion-dollar ambitions. Elon Musk stayed away and stayed salty.A New Courtship Ritual at DinnerThursday night’s White House dinner delivered a simple message from Silicon Valley to Washington: we can play nice when it pays. Cameras rolled as top tech figures, from those specializing in social media, artificial intelligence (AI) and more, took turns thanking the president and talking up American investment, an optics-perfect scene in which power met money and both smiled for the record. The performance element was the point, and everyone hit their mark.Meta founder Mark Zuckerberg, Apple CEO Tim Cook, Microsoft founder Bill Gates, OpenAI founder Sam Altman, Google CEO Sundar Pichai and Microsoft CEO Satya Nadella, were among the attendees.WATCH LIVE: President Trump hosts top tech CEOs at White House dinner https://t.co/5DZXKjDAJH— Fox News (@FoxNews) September 4, 2025The $600 Billion FlexMark Zuckerberg sat to the president’s right and talked about “huge investments,” while name-checking Meta’s plan to spend at least $600 billion through 2028 on U.S. data centers and infrastructure. If regulatory vibes stay friendly, that hyperscale budget becomes a moat. It also becomes leverage in every conversation about energy, zoning, and tax incentives that touch those builds.Altman’s Trump Applause Line, Gates’ GratitudeOpenAI’s Sam Altman thanked Trump for being a “pro-business, pro-innovation president,” saying, "It's a very refreshing change. ... I think it's going to set us up for a long period of leading the world, and that wouldn't be happening without your leadership." Bill Gates offered public appreciation too, a genteel nod that doubles as a signal to agencies and appropriators who will shape AI’s future. The room’s mood said the quiet part out loud: charm the policymaker, de-risk the roadmap.Policy Small Talk with Very Large ConsequencesThe choreography may be ceremonial, but the agenda is not. There’s a need to address the raw power, and legislation, needed to power the next wave of giant data centers, as well as the bureaucratic snags that slow grid hookups. Those nuts-and-bolts fixes are worth far more to these companies than any single handshake photo.Proud to be at the White House today attending the AI Education Task Force meeting led by @FLOTUS. @AMD is proud to expand our commitment to AI Education through new AI Learning Labs and open source courses that will give students, educators and researchers hands-on experience… pic.twitter.com/qbpMEQRj0n— Lisa Su (@LisaSu) September 4, 2025Tech wants a light regulatory touch on AI. That pitch landed alongside the reality that the current FTC chair, Andrew Ferguson, is a vocal Big Tech critic. Translation for the dinner crowd: play nice in public, push hard in private, and hope the referees swallow the whistle. Musk, Invited, Still UnamusedI was invited, but unfortunately could not attend. A representative of mine will be there.— Elon Musk (@elonmusk) September 4, 2025One billionaire did not attend the ball. Elon Musk said on X he was invited, could not attend, and sent no vibes beyond the familiar posture of wounded detachment. Given his recent season as an insider, the absence is loud. The rest of the class showed up, smiled, and banked IOUs. Musk stayed outside, where the applause is thinner and the leverage is smaller. The Soft Power MathFor the CEOs, this is not about likes, it is about permissions and plumbing. Licenses, interconnects, tax treatment, export allowances, spectrum, visas, grid hookups, even the right to pour concrete on a tight timeline. Public praise is the cheap down payment. The return shows up in a permitting office, an appropriations subcommittee, or a tariff footnote that quietly shapes who scales and who stalls. Though, not everyone among Trump's base will be pleased...Gates and Zuckerbucks Oh hell no - President Trump hosts top tech CEOs at White House dinner. pic.twitter.com/n38sfvLLhp— Karli Bonne’ ?? (@KarluskaP) September 4, 2025Washington likes a narrative about jobs and national strength. Big Tech can supply both, at least on paper, with eye-watering capex and patriotic ribbon cuttings. In exchange it prefers clarity over crusades. Fewer surprise rules, faster project approvals, friendlier interpretations from people who answer the phone. Call it regulatory mood music. Get the key in the right, predictable, business-friendly key and the orchestra will play louder.The real action is always off camera. The dessert course becomes a sidebar on energy capacity needs, chip supply chains, or the wording of an AI safety memo. A single adjective in a federal guideline can move billions. That is why everyone shows up polished and patient. Charm first, specifics later, outcomes months from now. If the trade is flattery for facilitation, Silicon Valley is already doing the math and the answer keeps coming back the same: access compounds.For more stories at the intersection of fintech, AI and more, follow our Trending section. This article was written by Louis Parks at www.financemagnates.com.

The Cyprus Securities and Exchange Commission has published a policy outlining fees for financial entities under the EU’s Digital Operational Resilience Regulation. Annual supervision fees will range from €2,000 to €20,000 based on entity size, while threat-based penetration testing carries a €20,000 assessment fee.Regulator Outlines Fee Schedule and DORA Obligations for FirmsFirms must declare their category between October 2 and October 31, based on their latest audited financial statements. Annual fees are due by December 31 and will be calculated pro-rata for the period from mid-August to year-end.Δελτίο Τύπου – Η ΕΚΚ δημοσιεύει Δήλωση Πολιτικής για τα τέλη που σχετίζονται με τον Κανονισμό DORAhttps://t.co/cr3xngVFDgPress Release – CySEC issues Policy Statement on fees related to DORA Regulationhttps://t.co/UqpKhAnryx— CySEC - Cyprus Securities and Exchange Commission (@CySEC_official) September 4, 2025CySEC said the fees reflect stakeholder feedback and aim to reduce reliance on public funding. DORA obliges firms to manage and recover from ICT disruptions and standardises resilience requirements across the EU. In Cyprus, it aligns local firms with EU benchmarks.CySEC Conducted 850 Audits, Issued €2.76 Million FinesIn 2024, CySEC carried out over 850 audits, reviewed 510 annual compliance reports, and monitored derivatives transactions for 33 investment funds. Administrative fines for the year totaled €2.76 million, with Cyprus-based investment firms accounting for €2.12 million. You may find it interesting at FinanceMagnates.com: CySEC Implements EU Sanctions Rules Impacting CFD Brokers, Establishes National Unit.The regulator also revoked multiple operating licenses as part of its efforts to strengthen compliance, investor protection, and overall financial stability.Investors Guided on Forex, CFD, Crypto RisksMeanwhile, CySEC has introduced an educational quiz for retail investors and traders to help them identify potential investment scams in forex, CFDs, and crypto. The 12-question quiz presents scenarios involving online platforms, high-return offers, and unsolicited advisor contacts, aiming to strengthen investor awareness and risk recognition. This article was written by Tareq Sikder at www.financemagnates.com.

The US passed its landmark GENIUS Act, bringing President Trump one step closer to his pledge of making the US the “crypto capital of the world.” Unfortunately for Trump, no matter what his administration does, I’m afraid these efforts will be in vain. For me, the UAE will always be the real homeland of crypto.The act, which Trump signed in July, is just more crypto-positive legislation from the States and a critical part of his administration’s mission to push the US up the DeFi podium.TRUMP: ?? "The Golden Age of America is upon us, with today's signing."President Trumps signs the Genius Act signaling the first of Stablecoin legislation. pic.twitter.com/JD2TtV0p9b— CoinDesk (@CoinDesk) July 18, 2025Stablecoin Regulations in the USIt lays out a clear regulatory framework for stablecoins in the US, further establishing them within the US's regulated capital market, and holding stablecoin issuers – like Circle and Tether, among others – to stronger anti-money laundering compliance. In fact, the move has already bolstered consumer and company confidence in digital assets and is even inspiring Wall Street giants to launch their own stablecoins. With the world's biggest banks getting on board with cryptocurrencies, I can see why Trump might think his act gives the US an edge as the global crypto superpower. Unfortunately for him, this “giant” leap for crypto is just one of many small steps the UAE took years ago. In fact, the UAE has been actively encouraging crypto entrepreneurs to set up shop on its shores for years. For a start, its forward-thinking government has established crystal-clear regulatory frameworks for crypto, pioneering how governments should regulate crypto globally.Dubai's Virtual Asset Regulatory Authority (VARA) is exploring ways to ease the regulatory cost burden for smaller crypto firms.During Paris Blockchain Week, VARA CEO Matthew White discussed potential solutions, including a model where larger entities support smaller ones.— Satoshi Club (@esatoshiclub) April 11, 2024The Central Bank of the UAE (CBUAE) and Dubai's Virtual Assets Regulatory Authority (VARA) – the world’s first virtual asset regulator – provide comprehensive oversight and checks and balances on digital assets, promoting transparency, consumer security, and fostering innovation in DeFi. In the UAE, crypto isn’t the Wild West – it’s a real, legitimate asset class.Dubai Sets the StandardThe simple fact is the UAE has been much quicker out of the blocks on regulation, and it’s reaping the rewards. VARA was established in 2022, and Abu Dhabi’s FSRA implemented its first crypto assets regulatory framework in 2018 – that's a seven-year head start on the US's GENIUS Act. Does the current US government really expect to stage a crypto coup this late in the day? Moreover, the UAE imposes zero tax on crypto income or capital gains, making it incredibly hard to compete with – especially for the higher tax jurisdictions of the EU and US. Here’s the bottom line: the country is allowing crypto investors and entrepreneurs to thrive, not just survive. It actively encourages crypto investment and trading.UAE Introduces Retroactive VAT Exemptions for Crypto Transactions https://t.co/aaNPfOJFyO— Bitcoin.com News (@BTCTN) October 7, 2024Going further still, the UAE has also fully integrated digital assets into its national infrastructure. By 2026, we'll see the UAE’s central bank digital currency, the Digital Dirham, supported by all financial institutions registered in the UAE. And on a more consumer note, in Dubai, you’re even able to buy a home using bitcoin – supported by CBUAE and VARA. With these latest innovations, the UAE is going beyond accepting crypto – and promoting investment activity in the space – to making it a pillar of their economic landscape.A Destination for Crypto IssuersLooking at the whole picture, it’s no wonder that the country is the clear first-choice destination for crypto issuers and exchanges. And where the big crypto players go, innovations follow. OKX, the world’s second-largest crypto exchange, has launched regulated crypto derivatives for retail investors in the region, and beyond that, there are a staggering 500-plus crypto startups operating there domestically.These organisations and their people have been lured to the UAE by its appetite, infrastructure, and proactive regulation – and who can blame them? In my opinion, the US’s GENIUS Act simply doesn't offer any competitive edge that will usurp its throne...At the end of the day, the UAE has embraced digital assets in a way that no other global market has, making itself unchallengeable as the crypto motherland.Bitcoin Ownership RateOf course, I can't say I'm surprised: they have the highest Bitcoin ownership rate globally at 27.2%, which is a staggering level of appetite. Considering all the factors above, it's no wonder the crypto world has embraced the UAE in return. Ultimately, the UAE is lightyears ahead of other countries in its approach to DeFi in every way. No regulatory shift in other markets is going to bridge the gap and displace it as the world leader, and that includes the US. The UAE will always be the kingpin, and its crypto crown isn’t up for grabs. This article was written by Fiorenzo Manganiello at www.financemagnates.com.

The High Court of Australia has granted the Australian Securities and Investments Commission special leave to appeal a ruling in favour of digital asset provider Block Earner. The case concerns whether the company’s fixed-yield product, Earner, qualifies as a financial product under Australian law.Australia’s Full Federal Court previously ruled that Block Earner did not need a financial services licence for the product, overturning an earlier Federal Court decision. ASIC’s claims, including those related to a variable-yield product, were dismissed following the company’s appeal.Background on Block EarnerBlock Earner, operating as Web3 Ventures, offered Earner for a period in 2022, letting investors earn fixed returns on digital assets. ASIC launched proceedings, alleging the company provided unlicensed financial services and ran an unregistered investment scheme.You may find it interesting at FinanceMagnates.com: Societe Generale’s Aussie Unit Pays Massive Fine After Missing Suspicious Futures Trades.In early 2024, the Federal Court found Block Earner had engaged in unlicensed conduct but later relieved the company from paying penalties. The company cross-appealed to challenge the licence requirement.The High Court granted special leave, on the condition that ASIC cover Block Earner’s legal costs. The regulator must lodge its notice of appeal within two weeks. A hearing date has not yet been set.Regulator Consolidates Guidance and Legal InstrumentsASIC has cut more than 9,240 pages of regulatory content this year as part of efforts to simplify compliance. The agency consolidated legal instruments, reduced duplicated guidance, and launched digital services to replace paper-based processes. ASIC is testing ways to reduce obligations for small-company directors and financial advisers, including accepting electronic signatures and email submissions for certain filings. The simplification aims to reduce costs, clarify rules, and improve enforcement. ASIC oversees 3.6 million companies, 15,500 financial advisers, and thousands of other entities, and its reforms target clearer, more accessible regulation for businesses and consumers. This article was written by Tareq Sikder at www.financemagnates.com.

Abu Dhabi Global Market has granted GFO-X Group in-principle approval to set up a digital asset exchange and clearing house, strengthening the emirate’s position as a center for regulated crypto markets.Abu Dhabi Opens Door for GFO-XGlobal Futures and Options Abu Dhabi Exchange Limited and GFO-X Abu Dhabi CCP Limited received approval from the Financial Services Regulatory Authority of ADGM to operate as a Recognized Investment Exchange and a Recognized Clearing House. The companies are targeting a 2026 launch.Arnab Sen, the CEO of GFO-X, said, “This approval is a pivotal step in our journey to build a globally interconnected, regulated marketplace for digital asset derivatives and complementary products.” “ADGM’s regulatory sophistication and institutional-grade infrastructure make it an ideal jurisdiction for our next phase of growth to support digital assets and the benefits of collateral mobility,” he explained.The approval extends GFO-X’s operations beyond the UK, where it runs the first FCA-authorized, centrally cleared digital asset derivatives Multilateral Trading Facility, and its technology base in Hong Kong.Read more: Revolut Offers to Buy Back Up to 10% of Shares at $45 Billion Valuation: ReportAccording to the company, the Abu Dhabi venue operates around the clock and allows digital assets to be used as margin within a centrally cleared framework. The model addresses counterparty risk and collateral inefficiencies that have limited institutional participation in digital asset derivatives.The exchange will support both cash-settled and physically delivered derivatives, alongside other listed products, for traditional institutions and crypto-native investors.Abu Dhabi’s Regulatory EdgeADGM has established itself as a center for digital asset regulation, attracting firms seeking institutional-grade oversight. Arvind Ramamurthy, Chief Market Development Officer at ADGM, said the approval showed the free zone’s “forward-looking vision” and added that it created “an environment where innovation and trust go hand in hand.”GFO-X is in advanced talks with institutional partners ahead of the planned 2026 rollout. With approvals in Abu Dhabi and the UK, and operations in Hong Kong, the group is building regulated infrastructure to support the integration of digital assets into global finance This article was written by Jared Kirui at www.financemagnates.com.

Simon Taylor has announced on LinkedIn that he will be joining Tempo, a payments-focused Layer 1 blockchain incubated by Stripe and Paradigm.Taylor will take on a full-time role at Tempo and step back from his day-to-day work at Sardine, where he has served as a strategic advisor for over three years. He said he will continue his involvement in Brainfood, Nerdcon, and Tokenized.Taylor wrote in his post: “I'm joining Tempo, the payments-focused L1 blockchain incubated by Stripe and Paradigm. I’m moving to an advisor role with Sardine to focus on Tempo as my full-time day job.”Taylor Shifts from 11:FS to TempoTaylor has experience in fintech and blockchain. He founded Fintech Brainfood over six years ago. He also co-founded and serves on the board of Global Digital Finance, an industry body focused on digital finance adoption, for over seven years.Previously, Taylor worked at 11:FS for nearly six years, holding roles including Co-Founder and Head of Ventures. Before that, he spent over three years at Barclays in blockchain research and mobile delivery roles.Previously, Taylor worked at 11:FS for nearly six years, holding roles including Co-Founder and Head of Ventures. Before that, he spent over three years at Barclays in blockchain research and mobile delivery role.Several Leadership Moves Highlight Activity in Fintech and BlockchainSeveral recent moves in the fintech and blockchain sectors highlight ongoing leadership changes. Former Citi and NatWest FX executive Scotte Moegling joined Virtu Financial as Head of Business Development for Digital Assets. The appointment reflects Virtu’s expansion into cryptocurrency markets.You may find it interesting at FinanceMagnates.com :You Everything You Need to Know About Tokenized Stocks in 2025.In another development, David Ramil, with experience in payment solutions and blockchain, became a co-founder at Willybit. His focus will be on providing payment services for high-risk sectors, underlining continued growth and innovation in fintech.Former Coinbase Germany CEO Jan-Oliver Sell joined blockchain firm LUKSO as Chief Operating Officer. Sell brings over 15 years of experience in operations and finance, emphasizing the trend of executives moving into strategic roles within blockchain-focused companies. This article was written by Tareq Sikder at www.financemagnates.com.

The CEO of online trading platform Erkin Kamran has announced that he is stepping down from his role “to work on a new build at the intersection of tradfi and web3.”“After careful consideration, I have decided to step down as CEO of Traze. Incredibly proud of how much we shipped in a short time with the team – launching and growing a top-tier regulated broker in the UAE and proving what focused execution can deliver. A big Thank You to @Traze team for the trust, commitment, and camaraderie,” Kamran announced today (Thursday).“What’s next: I’m working on a new build at the intersection of tradfi and web3 – still early and in stealth, but will share soon enough. If you’re solving problems in trading or fintech – feel free to reach out I’m always up for a catch-up be it on product, liquidity, GTM or more.”Traze's Global PresenceTraze is a contracts for differences (CFDs) broker brand under the Seychelles-regulated brand Zeal Capital Market. Early this year, the company secured a license in the United Arab Emirates.The approval allows the broker to provide brokerage, portfolio management, and advisory services to retail and institutional investors in the UAE and “the broader region.”Other recent moves: FYNXT Appoints Chief Revenue Officer, Bringing APAC and EMEA Sales Experience“This regulatory milestone allows us to continue our aim of making investing more accessible and helping traders with the tools and education they need to succeed,” said Kamran.Alongside the UAE authorization, Traze also holds an operational license in South Africa. It is part of Zeal Group, which operates the ZFX brand from the United Kingdom and Seychelles, with the offshore entity serving retail clients and the UK arm catering to professionals and institutions.A Seasoned ExpertKamran is a seasoned industry executive who joined Traze from the London-based fintech Zeal Group. He also has experience from serving as a Project Manager at Bank of America Merrill Lynch, among other roles.Meanwhile, the UK unit of Zeal ended its financial year on 30 June 2024 with revenue of £802,437, down 81 percent, while net profit rose 41 percent to £213,344 from £151,408 a year earlier, with all revenue derived from brokerage services to UK clients. This article was written by Jared Kirui at www.financemagnates.com.

EC Markets Group closed 2024 with stronger earnings as revenue nearly doubled year-on-year. The forex and CFD brokerage reported higher profits and an improved balance sheet, underlining a year of growth despite rising costs.Revenue Jumps Close to 90%The company posted a turnover of $3.24 million for 2024, compared with $1.71 million the previous year. Cost of sales rose to $979,251 from $358,100, but gross profit still increased to $2.26 million from $1.35 million.Operating profit was $614,622, almost double the $315,933 recorded in 2023. Net profit for the year reached $513,869, up from $448,157. EC Markets’ net profit increased 14% despite an increase in the firm’s administrative expenses, which climbed 58% to $1,641,747. Shareholder funds rose to $1.59 million by year-end, compared with $1.08 million a year earlier. The company reported that its number of employees increased from 8 in 2023 to 11.Additional Income StreamAlongside its core execution-only brokerage business, EC Markets generated income from risk management services provided to an affiliated regulated broker. The services, offered for a fixed monthly fee, created an unregulated revenue stream in addition to its regulated activities.You may also like: Revolut Offers to Buy Back Up to 10% of Shares at $45 Billion Valuation: ReportEC Markets also expanded its balance sheet during the period. The company’s net assets increase 48% to $1,593,255. Cash at bank and cash at hand increased from $682,196 to $1,665,768.EC Markets' global expansion seems to be paying off. Last month, the broker opened a new office in Mexico City, marking its first physical presence in Latin America.Global Expansion Paying OffThe move into Mexico comes shortly after the firm launched an office in Mauritius, underscoring a broader strategy to expand its international footprint. Previously, the firm opened a new office in Ebene, Mauritius, a central financial hub known for its regulated trading environment. Additionally, EC Markets secured a license from the Securities and Commodities Authority of the United Arab Emirates this year. The license permits full operation within the country’s regulated financial sector, including client introductions, service marketing, and financial consultations. The firm also holds licenses from major jurisdictions such as the UK’s Financial Conduct Authority, Australia’s ASIC, and South Africa’s FSCA, strengthening its global regulatory position. This article was written by Jared Kirui at www.financemagnates.com.

Kraken, a cryptocurrency technology platform, announced it has acquired Breakout, a proprietary trading firm. Breakout provides traders access to capital for executing strategies and allows them to trade crypto through funded accounts after passing an evaluation, without using personal funds.Kraken is the first cryptocurrency exchange to enter the proprietary trading space. Unlike traditional prop trading firms, which provide funded accounts to traders without offering an exchange platform, Kraken combines its exchange infrastructure with Breakout’s evaluation-based trading model.Kraken Adds Funded Accounts for Traders“Breakout gives us a way to allocate capital based on proof of skill rather than access to capital itself. In a world that is rapidly shifting from who you know to what you know, we want to build systems that reward demonstrated performance, not pedigree,” commented Arjun Sethi, co-CEO of Kraken.The acquisition expands Kraken’s product offerings for advanced traders. Through Breakout, qualified traders can access up to $200,000 in notional capital. To qualify, traders must purchase and pass an evaluation and maintain performance above set drawdown limits. Traders who meet these requirements receive funded accounts and can retain up to 90% of any profits. Payments are made directly on-demand.NEW: Kraken acquires Breakout to launch performance-based prop trading on Kraken Pro pic.twitter.com/bcyD8aMih6— Blockworks (@Blockworks_) September 4, 2025Breakout Founded 2023, Raises Seed FundingBreakout is a crypto-native proprietary trading firm founded in 2023 by Alex Miningham and Dylan Loomer. Operating as “Breakout Trading Group, LLC,” the firm is headquartered in Tampa, Florida. In July 2024, Breakout raised $4.5 million in a seed funding round led by RockawayX, Mechanism Capital, IOBC Capital, C² Ventures, and Round13 Capital.Breakout Traders Gain Access to 50+ PairsKraken said the move supports its goal of enabling experienced traders to deploy capital in crypto markets. Breakout will benefit from Kraken’s infrastructure and global reach. Over time, Breakout will be integrated into the Kraken Pro platform for eligible users.You may find it interesting at FinanceMagnates.com: Kraken Launches Crypto Services Across 30 EEA Countries Under MiCA License.Breakout allows traders to develop strategies across more than 50 crypto pairs. Leverage of up to 5x is available on BTC and ETH contracts. Traders must pass evaluations to receive capital and must requalify if drawdown limits are breached.Prop Trading Brings Risks and ComplexityEntering prop trading presents several challenges for exchanges. Regulatory scrutiny can arise as authorities assess how such activities fit within existing rules. Risk management is important to limit potential losses from funded traders. Read More: “Over-Gamification Attracts the Wrong Traders,” Swiset COO Warns on Prop Trading.Market integrity must be maintained to prevent manipulation or abusive strategies. Operational complexity can increase when integrating new trading models, and competition from established prop trading firms can affect trader adoption.Expanding Services with NinjaTrader Acquisition, Cyprus LicenseKraken announced plans to acquire the futures trading platform NinjaTrader for $1.5 billion. The acquisition aims to combine traditional finance tools with crypto trading and expand services for retail and institutional users.In Europe, Kraken launched crypto derivatives under a Cyprus license. The license, obtained through a Cypriot Investment Firm approved by CySEC, allows the exchange to offer additional products and strengthens its regulatory presence in the region. This article was written by Tareq Sikder at www.financemagnates.com.

BTCUSD, after facing rejection at an intraday resistance, has undergone a significant bearish correction and appears to have found support around $110.4K. As of writing, the cryptocurrency is trading near this level, with intraday traders watching price action closely to determine its next move.Crypto analysts have issued a warning as Bitcoin exhibits a rare “three bars down” signal on its weekly chart. Historically, this pattern has preceded major corrections, although current market conditions may reduce the likelihood of a severe downturn. Traders should monitor key levels in the coming days for potential shifts in market direction.Analyst Issues Warning on BitcoinA cryptocurrency analyst, Jason Pizzino, has issued a warning about a rare technical pattern forming on Bitcoin’s weekly chart, while noting that current market conditions may not indicate a severe downturn.The “Three Bars Down” SignalThe analyst highlighted the “three bars down” signal, also referred to as “three red weeks,” which consists of three consecutive weekly candles with lower highs and lower lows following a significant peak. You may find it interesting at FinanceMagnates.com: Bitcoin Finds Support; Analysts Highlight US Offshore Access Impact on Crypto.Historically, this pattern has preceded major Bitcoin corrections, including a 70% decline after the 2017 all-time high, a 55% drop in April 2021, and a 53% correction following June 2019. In the current bull market, the signal has already appeared twice, each time coinciding with roughly a 30% correction.Why This Time Might Be DifferentDespite the historical precedent, the analyst argued that the conditions this time differ from past occurrences. Previous signals coincided with periods of extreme market greed and peak Google search interest for Bitcoin, while the current market has not displayed sustained euphoria. This suggests that a deep correction may be less likely, and the bull market could continue.This rare weekly signal has crashed the price of Bitcoin by up to 70%. Crypto isn't immune to it either; however, we are yet to see the sentiment reach similar levels for the full impact of this signal. There are 4 days to go to invalidate this signal. #BTC #ETH #CryptoWatch… pic.twitter.com/r5V82ESbXW— Jason Pizzino ? (@jasonpizzino) September 4, 2025Key Levels to WatchThe analyst outlined key levels to monitor over the next four days as the weekly candle closes. A break above $113K would invalidate the bearish signal, signaling continued strength in Bitcoin. Read More: Why Bitcoin Is Going Up? BTC Price Today Rallies Above $111K on Technical Breakout Signal.The preferred short-term scenario involves a bounce toward $114K–$117K, followed by a rejection and a retest of recent lows near $107K, which could help establish a stronger base for a future rally. If the signal holds and the price fails to surpass $113K, it may indicate a longer and deeper correction extending into the fourth quarter.Broader Market ContextThe broader macroeconomic context also informs the analyst’s outlook. Expectations of upcoming interest rate cuts, strong performance in gold and silver, and historical seasonal trends suggest that Bitcoin and other major cryptocurrencies could experience a relatively positive fourth quarter, even if short-term consolidation occurs in September. This article was written by Tareq Sikder at www.financemagnates.com.