With February in full swing, let's take a look back at the biggest news stories from the worlds of Forex, Fintech and Crypto in our best of the week segment.
UK’s Fintech Sector Attracts $37.3 Billion Worth of Investments in 2021
Finance Magnates covered this week's release of the KPMG report into the UK Fintech sector which highlighted a sharp increase in the volume of investments in fintech
Fintech
Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl
Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl
Read this Term.
According to the data published by KPMG, more than 600 M&A, private equity and venture capital fintech deals were finalized in the UK during 2021, which is 27% higher compared to 470 in 2020. Nearly 50% of the largest fintech deals in the EMEA region were completed in the UK.
In total, UK’s financial technology sector witnessed investments worth £27.5 billion ($37.3 billion) during the mentioned period, which is up sevenfold compared to $5.2 billion in 2020.
Read more on the UK Fintech sector investment here.
Is the Payments Industry Really Ready for Bitcoin?
Has Bitcoin succeeded to become a viable payment option after over a decade of its inception? Or can it even be used for payments
Payments
One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl
One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl
Read this Term?
In a Finance Magnates analysis, we looked at, with a focus on adoption, usage and viability, whether or not the burgeoning payments sector is really ready for Bitcoin.
Read more on Bitcoin and the Payments industry here.
Analysis: Forex Traders from Singapore Spend More than $1,743 on Their First Deposit
Continuing our series of analyses in which we delve into the retail Forex (FX) and contracts for difference (CFD) industries in individual countries, this time we visit the Asian continent, taking a look at Singapore.
Singapore is the only Asian country currently rated AAA by foreign rating agencies worldwide. It stands out as an important financial hub and tax haven, attracting many foreign investors and companies. Among them are Forex brokers and trading platforms that offer retail clients investing in contracts for difference.
We delved deep into Singapore FX statistics to give you the lowdown on one of the Four Asian Tigers.
Read more on the Singapore FX scene here.
Binance Invests $200 Million in Business News Platform Forbes
Forbes, ahead of its public listing with a black-check company merger, announced on Thursday that it had received $200 million as an investment from the cryptocurrency exchange, Binance.
The strategic investment from the crypto giant came as a part of a $400 million private investment in public equity that the combined entity of Forbes and Magnum Opus, a special purpose acquisition company, is receiving.
Binance will receive the stake in the merged public entity according to the same terms as other PIPE investors.
Read more on the Binance Forbes investment here.
Israeli Police Arrest Two in Alleged Binary Options and CFDs Fraud
As Finance Magnates reported this week, Germany requested the extradition of 2 Israeli citizens, Timur Rohlin and Tal Aharon. The Israeli citizens are suspected to have defrauded German investors throughout 2018 - 2020.
The German authorities began receiving hundreds of complaints from investors that had lost their money through the companies that were allegedly operated by Israeli citizens.
Read more on the latest Israeli forex/binary arrests here.
2022: The Year of the TipRanks?
In an exclusive interview with Uri Gruenbaum, the CEO of TipRanks, I had the opportunity to put some industry rumours to Uri and discuss its 'best year yet'.
After an extraordinary year for the financial analysis and data tools company, it seems even bigger things lie ahead for the Tel Aviv-based company.
Read more on the Uri Gruenbaum and TipRanks interview here.
ThinkMarkets Secures $30 Million Funding for Expansion
Australia-headquartered ThinkMarkets has closed a $30 million funding package, the forex and CFDs broker announced on Friday. The proceeds will be utilized in expanding the company’s business across multiple verticals in several jurisdictions globally.
The investment came from Mars Growth, a joint venture fund of Liquidity Group and MUFG. ThinkMarkets was introduced to the venture fund by Singapore-based ARC Investments.
Read more on the ThinkMarkets funding here.
Bitcoin Exchange Supply Drops to the Lowest Level in 37 Months
Bitcoin exchange supply is shrinking. Amid global adoption and holding trends, BTC owners have moved their digital assets from trading platforms to crypto wallets substantially in the last three years. Santiment’s recent data highlights a sharp surge in Bitcoin outflows from leading digital exchanges.
According to the numbers, BTC trading platforms now hold just 10.8% of the circulating supply of the crypto asset, compared to more than 14% in February 2021. With that, the exchange supply has touched its lowest level since December 2018.
Read more on the diminishing Bitcoin Exchange supply here.
Daily Active Bitcoin Addresses Hit 1 Million
Staying with Bitcoin, for the first time in 10 weeks, daily unique addresses interacting on the Bitcoin network surged above 1.02 million. Moreover, the daily active BTC address count has stayed above the level of 1 million for the third day in a row.
Read more on increased daily active Bitcoin addresses here.
Euronext Sees 27% 2021 Revenue Jump with Borsa Italiana Integration
Euronext, a pan-European market infrastructure provider, reported a 46.9 percent increase in its yearly revenue for 2021 on Thursday, taking the figure to almost €1.3 billion. This was mostly contributed by the €337.7 million generated by Borsa Italiana, which the Group acquired last year.
The trading revenue of the platforms operated by the Group came in at €465.3 million, which is an increase of 27.4 percent. Non-volume-related revenue contributed 55 percent to the total yearly revenue of the Group.
Read more on Euronext's Revenue Jump here.
NFT Markets in 2022: From Trading Volumes to Real Estate
In an in-depth look at the world of NFTs, we delved deep into the current state of the NFT market, and what the future holds for Non-Fungible Tokens.
NFT scams, volumes and uses are all discussed with a nod to the 'next big thing' in NFTs this year.
Read more on the NFT Markets in 2022 here.
US Justice Dept Seizes $3.6Bn Worth Bitcoin from 2016 Bitfinex Hack
The U.S. Department of Justice has announced this week that they had seized $3.6 billion worth of Bitcoin stolen in the hack of Bitfinex cryptocurrency exchange in 2016.
Furthermore, the authorities have managed to arrest a husband and his wife for their alleged involvement in the theft. Prosecutors disclosed that they managed to trace the stolen funds, worth almost 120,000 Bitcoins, through an intricate web of transactions conducted to hide their origins, to a cryptocurrency wallet controlled by Ilya Lichtenstein, a 34-year-old man, and his 31-year-old wife, Heather Morgan.
Read more on the US Justice Dept. BTC seizure here.
With February in full swing, let's take a look back at the biggest news stories from the worlds of Forex, Fintech and Crypto in our best of the week segment.
UK’s Fintech Sector Attracts $37.3 Billion Worth of Investments in 2021
Finance Magnates covered this week's release of the KPMG report into the UK Fintech sector which highlighted a sharp increase in the volume of investments in fintech
Fintech
Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl
Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl
Read this Term.
According to the data published by KPMG, more than 600 M&A, private equity and venture capital fintech deals were finalized in the UK during 2021, which is 27% higher compared to 470 in 2020. Nearly 50% of the largest fintech deals in the EMEA region were completed in the UK.
In total, UK’s financial technology sector witnessed investments worth £27.5 billion ($37.3 billion) during the mentioned period, which is up sevenfold compared to $5.2 billion in 2020.
Read more on the UK Fintech sector investment here.
Is the Payments Industry Really Ready for Bitcoin?
Has Bitcoin succeeded to become a viable payment option after over a decade of its inception? Or can it even be used for payments
Payments
One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl
One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl
Read this Term?
In a Finance Magnates analysis, we looked at, with a focus on adoption, usage and viability, whether or not the burgeoning payments sector is really ready for Bitcoin.
Read more on Bitcoin and the Payments industry here.
Analysis: Forex Traders from Singapore Spend More than $1,743 on Their First Deposit
Continuing our series of analyses in which we delve into the retail Forex (FX) and contracts for difference (CFD) industries in individual countries, this time we visit the Asian continent, taking a look at Singapore.
Singapore is the only Asian country currently rated AAA by foreign rating agencies worldwide. It stands out as an important financial hub and tax haven, attracting many foreign investors and companies. Among them are Forex brokers and trading platforms that offer retail clients investing in contracts for difference.
We delved deep into Singapore FX statistics to give you the lowdown on one of the Four Asian Tigers.
Read more on the Singapore FX scene here.
Binance Invests $200 Million in Business News Platform Forbes
Forbes, ahead of its public listing with a black-check company merger, announced on Thursday that it had received $200 million as an investment from the cryptocurrency exchange, Binance.
The strategic investment from the crypto giant came as a part of a $400 million private investment in public equity that the combined entity of Forbes and Magnum Opus, a special purpose acquisition company, is receiving.
Binance will receive the stake in the merged public entity according to the same terms as other PIPE investors.
Read more on the Binance Forbes investment here.
Israeli Police Arrest Two in Alleged Binary Options and CFDs Fraud
As Finance Magnates reported this week, Germany requested the extradition of 2 Israeli citizens, Timur Rohlin and Tal Aharon. The Israeli citizens are suspected to have defrauded German investors throughout 2018 - 2020.
The German authorities began receiving hundreds of complaints from investors that had lost their money through the companies that were allegedly operated by Israeli citizens.
Read more on the latest Israeli forex/binary arrests here.
2022: The Year of the TipRanks?
In an exclusive interview with Uri Gruenbaum, the CEO of TipRanks, I had the opportunity to put some industry rumours to Uri and discuss its 'best year yet'.
After an extraordinary year for the financial analysis and data tools company, it seems even bigger things lie ahead for the Tel Aviv-based company.
Read more on the Uri Gruenbaum and TipRanks interview here.
ThinkMarkets Secures $30 Million Funding for Expansion
Australia-headquartered ThinkMarkets has closed a $30 million funding package, the forex and CFDs broker announced on Friday. The proceeds will be utilized in expanding the company’s business across multiple verticals in several jurisdictions globally.
The investment came from Mars Growth, a joint venture fund of Liquidity Group and MUFG. ThinkMarkets was introduced to the venture fund by Singapore-based ARC Investments.
Read more on the ThinkMarkets funding here.
Bitcoin Exchange Supply Drops to the Lowest Level in 37 Months
Bitcoin exchange supply is shrinking. Amid global adoption and holding trends, BTC owners have moved their digital assets from trading platforms to crypto wallets substantially in the last three years. Santiment’s recent data highlights a sharp surge in Bitcoin outflows from leading digital exchanges.
According to the numbers, BTC trading platforms now hold just 10.8% of the circulating supply of the crypto asset, compared to more than 14% in February 2021. With that, the exchange supply has touched its lowest level since December 2018.
Read more on the diminishing Bitcoin Exchange supply here.
Daily Active Bitcoin Addresses Hit 1 Million
Staying with Bitcoin, for the first time in 10 weeks, daily unique addresses interacting on the Bitcoin network surged above 1.02 million. Moreover, the daily active BTC address count has stayed above the level of 1 million for the third day in a row.
Read more on increased daily active Bitcoin addresses here.
Euronext Sees 27% 2021 Revenue Jump with Borsa Italiana Integration
Euronext, a pan-European market infrastructure provider, reported a 46.9 percent increase in its yearly revenue for 2021 on Thursday, taking the figure to almost €1.3 billion. This was mostly contributed by the €337.7 million generated by Borsa Italiana, which the Group acquired last year.
The trading revenue of the platforms operated by the Group came in at €465.3 million, which is an increase of 27.4 percent. Non-volume-related revenue contributed 55 percent to the total yearly revenue of the Group.
Read more on Euronext's Revenue Jump here.
NFT Markets in 2022: From Trading Volumes to Real Estate
In an in-depth look at the world of NFTs, we delved deep into the current state of the NFT market, and what the future holds for Non-Fungible Tokens.
NFT scams, volumes and uses are all discussed with a nod to the 'next big thing' in NFTs this year.
Read more on the NFT Markets in 2022 here.
US Justice Dept Seizes $3.6Bn Worth Bitcoin from 2016 Bitfinex Hack
The U.S. Department of Justice has announced this week that they had seized $3.6 billion worth of Bitcoin stolen in the hack of Bitfinex cryptocurrency exchange in 2016.
Furthermore, the authorities have managed to arrest a husband and his wife for their alleged involvement in the theft. Prosecutors disclosed that they managed to trace the stolen funds, worth almost 120,000 Bitcoins, through an intricate web of transactions conducted to hide their origins, to a cryptocurrency wallet controlled by Ilya Lichtenstein, a 34-year-old man, and his 31-year-old wife, Heather Morgan.
Read more on the US Justice Dept. BTC seizure here.
