The trouble started over the weekend, when the pseudonymous founder of SushiSwap, known only as ‘Chef Nomi’, suddenly made the decision to sell all of his SUSHI tokens. A move that caused the token price to suddenly take a significant dive.
The token had already been sliding down before Chef Nomi sold off his coins: after peaking $11.27 on Tuesday, September 1st. By Friday, the SUSHI token price had dipped to roughly $4.50; when Chef Nomi sold his tokens on Saturday, SUSHI quickly dopped from $4.44 to $1.21, where it bottomed out.
All told, the price slid down roughly 90 percent from Tuesday to Sunday. By press time, the price had recovered to $2.84, softening the blow a bit: at $2.84, SUSHI is 74 percent below its peak price.
Chef Nomi's Decision to Cash Out Led Many to Cry 'Exit Scam'
The decision by Chef Nomi to cash out of the project also allegedly led many to believe SushiSwap was some kind of an ‘exit scam’, where a protocol is built for the sole purpose of building up a token price before the scammer sells all of the tokens, abandons the project, and makes off with all of the cash.
For example, crypto lawyer Preston Byrne, who practices at Anderson Kill Law, advised Twitter users that “If you lost money in the SushiSwap exit scam, file a report with the FBI and lawyer up.”
“This coin is regulated as a security, appears not to comply with Section 5 or an exemption from registration and therefore a sale is subject to a right of rescission,” he said. “With an alleged ‘exit scam’ you could also probably find common law claims. There are ways.”
However, on his unverified Twitter account, Chef Nomi insisted that he was not exiting the project (in spite of the decision to sell all of his SUSHI tokens.)
“People asked if I exited scam. I did not. I am still here. I will continue to participate in the discussion. I will help with the technical part. I will help ensure we have a successful migration (sic),” he wrote.
“@SatoshiLite did that and Litecoin had no problem surviving,” Nomi said.
People asked if I exited scam. I did not. I am still here. I will continue to participate in the discussion. I will help with the technical part. I will help ensure we have a successful migration.@SatoshiLite did that and Litecoin had no problem surviving.
And, like Charlie Lee, Nomi also said that his decision to cash out of the project was actually made for the benefit of the SushiSwap community: “I did the recent move because I care about the community[...] I stop caring about the price, and I will focus on the technicality of the migration,” he wrote.
After Outcry from the Community, Chef Nomi Transferred Control of SushiSwap to Sam Bankman-Fried
However, in spite of Chef Nomi’s poetic waxings about how he was not going to 'abandon' the SushiSwap project, Nomi did, in fact, make the decision to relinquish control of the SushiSwap protocol again, citing a desire to do what is best for the community.
Nomi, whose real identity remains unknown, Tweeted on Sunday, September 6th, that he would be transferring control of the project to Sam Bankman-Fried, the chief executive of cryptocurrency derivatives exchange FTX.
“I hope SushiSwap does well without me. Again I did not intend to do any harm. I’m sorry if my decision did not follow what you expected,” Chef Nomi wrote after announcing the decision.
Bankman-Fried, who was one of SushiSwap’s largest supporters and token holders, said that he would ensure that SushiSwap’s migration away from Uniswap (the protocol that SushiSwap is based on) would go smoothly.
“To be clear, if it’s given to me, I’ll make sure migration happens as planned and transfer it to a real multisig,” Bankman-Fried wrote.
The transfer of control has been well-received by much of the crypto community: for example, BitMEX founder and chief executive, Arthur Hayes wrote “please save me from a bad SUSHI investment, Sam Bankman-Fried,” calling Bankman-Fried “our new master chef.”
Please save me from a bad $SUSHI investment @SBF_Alameda. He is our new master chef.
However, the fact that Bankman-Fried is known to own so many SUSHI tokens and has been such a prominent supporter of SushiSwap from the beginning has given way to some conspiracy theories.
For example, Spencer Noon, the head of DTC Capital, pointed out that because Chef Nomi’s identity is unknown, the transfer of power could have been an illusion.
“So let me get this straight,” he wrote. “The ‘anonymous’ founder of SushiSwap just out of the blue ‘transferred’ control of the project to the largest farmer of Sushi, and y’all are just going to take them at their word they’re two different people?”
However, Bankman-Fried has denied the allegations: “ I AM NOT AND NEVER HAVE BEEN NOMI. I DON'T EVEN EAT FISH,” he wrote on Twitter.
10) Anyway on the eve of the end of my chefdom I wanted to present one vision for Sushi. It's not the only one. But it's mine.
Now sushi is going to be yours, finally. Make of it what you will.
Bankman-Fried’s 'chefdom' will also be very short-lived: almost as soon as Bankman-Fried took control of the protocol, he made the decision to transfer ownership of the protocol to a number of users who would each hold individual pieces of a multi-signature key.
“Going to transfer control to a multisig,” he wrote on September 6th, adding that if you would like to be a member of this, please comment on this post with ‘I would like to be a multisig key holder for sushi’. We'll take the top 20 by likes, and have a proper vote on them.
“Will then transfer keys to that multisig group,” he continued, “After that -- Sushi shall be back in the community's hands.”
Bankman-Fried also said that he would be holding a vote on the multisig concept itself: “we'll put up a vote on this whole plan, if majority vote against then we'll scrap it and go back to the drawing board.”
4) will then transfer keys to that multisig group.
After that -- Sushi shall be back in the community's hands.
We'll put up a vote on this whole plan, if majority vote against then we'll scrap it and go back to the drawing board.
The reception of the plan appears to have been mixed: “Control of the multisig keys for sushiswap will be determined by a twitter popularity contest,” one twitter user wrote, adding “bullish”, perhaps sarcastically.
Control of the multisig keys for sushiswap will be determined by a twitter popularity contest.
However, as of press time it appeared that the plan was moving forward. Twelve candidates were in the race for becoming multisig holders, with Bankman-Fried at the top of the list.
In other words, the plan to save SushiSwap (and SUSHI token holders) seems like it may be working.
"There Are No Good Guys"
However, while a true crisis may have been averted, there seems to be a lot to unpack as far as lessons that can be learned from this sushi-themed series of events.
Mikko Ohtamaa, chief technical officer of FirstBloodIo, wrote that “there are no good guys” in this particular chapter of the DeFi development saga.
“There are only controversial characters on this one,” he said, including “commentators, farmers, traders, exchanges.”
For one thing, the fact that Chef Nomi decided to financially exit the project will always cast a shadow over SushiSwap’s history: “The developer(s) cashed out in a way that showed a lack of integrity,” Mikko wrote.
At the same time, the explosive popularity of the Sushi protocol also shows a lack of due diligence on the behalf of users and exchanges who eagerly bought into the project and listed SUSHI tokens.
“Users were greed--they thought [that] 1500% APY can be sustained,” Mikko said. And indeed, DefiRatereported at the end of August that SushiSwap was 'netting upwards of 1500% APY', and that the total value of capital locked in the ecosystem was quickly growing: by a whopping $1.27 billion was 'locked' inside the protocol just eleven days after its launch on Uniswap.
The huge amounts of money that were flowing into SushiSwap also prompted cryptocurrency Binance to quickly list SUSHI tokens, causing many to accuse the exchange of having neglected due diligence responsibilities for users.
“Binance listed $SUSHI in 2 days when it usually takes months for a good project,” Mikko wrote.
22/ CZ from Binance even tweeted that "we need to list fast to stay relevant"
Adel Meyer, the head of the DAPScoin project, also wrote on Twitter that “the whole $Sushi and @cz_binance story is exactly what’s wrong with the #crypto industry. Few days old project with unknown founder gets listed instantly on @binance FOR FREE where legit projects get charged $$$ or just never get a chance.”
On the same day that Chef Nomi exited SushiSwap, there was also a significant decrease in the total amount of value that is locked in the DeFi ecosystem. On September 2nd, total value locked peaked over $9.5 billion before crashing as low as $7.56 billion on Sunday, September 6th. At press time, total value locked had recovered $8.02 billion.
The trouble started over the weekend, when the pseudonymous founder of SushiSwap, known only as ‘Chef Nomi’, suddenly made the decision to sell all of his SUSHI tokens. A move that caused the token price to suddenly take a significant dive.
The token had already been sliding down before Chef Nomi sold off his coins: after peaking $11.27 on Tuesday, September 1st. By Friday, the SUSHI token price had dipped to roughly $4.50; when Chef Nomi sold his tokens on Saturday, SUSHI quickly dopped from $4.44 to $1.21, where it bottomed out.
All told, the price slid down roughly 90 percent from Tuesday to Sunday. By press time, the price had recovered to $2.84, softening the blow a bit: at $2.84, SUSHI is 74 percent below its peak price.
Chef Nomi's Decision to Cash Out Led Many to Cry 'Exit Scam'
The decision by Chef Nomi to cash out of the project also allegedly led many to believe SushiSwap was some kind of an ‘exit scam’, where a protocol is built for the sole purpose of building up a token price before the scammer sells all of the tokens, abandons the project, and makes off with all of the cash.
For example, crypto lawyer Preston Byrne, who practices at Anderson Kill Law, advised Twitter users that “If you lost money in the SushiSwap exit scam, file a report with the FBI and lawyer up.”
“This coin is regulated as a security, appears not to comply with Section 5 or an exemption from registration and therefore a sale is subject to a right of rescission,” he said. “With an alleged ‘exit scam’ you could also probably find common law claims. There are ways.”
However, on his unverified Twitter account, Chef Nomi insisted that he was not exiting the project (in spite of the decision to sell all of his SUSHI tokens.)
“People asked if I exited scam. I did not. I am still here. I will continue to participate in the discussion. I will help with the technical part. I will help ensure we have a successful migration (sic),” he wrote.
“@SatoshiLite did that and Litecoin had no problem surviving,” Nomi said.
People asked if I exited scam. I did not. I am still here. I will continue to participate in the discussion. I will help with the technical part. I will help ensure we have a successful migration.@SatoshiLite did that and Litecoin had no problem surviving.
And, like Charlie Lee, Nomi also said that his decision to cash out of the project was actually made for the benefit of the SushiSwap community: “I did the recent move because I care about the community[...] I stop caring about the price, and I will focus on the technicality of the migration,” he wrote.
After Outcry from the Community, Chef Nomi Transferred Control of SushiSwap to Sam Bankman-Fried
However, in spite of Chef Nomi’s poetic waxings about how he was not going to 'abandon' the SushiSwap project, Nomi did, in fact, make the decision to relinquish control of the SushiSwap protocol again, citing a desire to do what is best for the community.
Nomi, whose real identity remains unknown, Tweeted on Sunday, September 6th, that he would be transferring control of the project to Sam Bankman-Fried, the chief executive of cryptocurrency derivatives exchange FTX.
“I hope SushiSwap does well without me. Again I did not intend to do any harm. I’m sorry if my decision did not follow what you expected,” Chef Nomi wrote after announcing the decision.
Bankman-Fried, who was one of SushiSwap’s largest supporters and token holders, said that he would ensure that SushiSwap’s migration away from Uniswap (the protocol that SushiSwap is based on) would go smoothly.
“To be clear, if it’s given to me, I’ll make sure migration happens as planned and transfer it to a real multisig,” Bankman-Fried wrote.
The transfer of control has been well-received by much of the crypto community: for example, BitMEX founder and chief executive, Arthur Hayes wrote “please save me from a bad SUSHI investment, Sam Bankman-Fried,” calling Bankman-Fried “our new master chef.”
Please save me from a bad $SUSHI investment @SBF_Alameda. He is our new master chef.
However, the fact that Bankman-Fried is known to own so many SUSHI tokens and has been such a prominent supporter of SushiSwap from the beginning has given way to some conspiracy theories.
For example, Spencer Noon, the head of DTC Capital, pointed out that because Chef Nomi’s identity is unknown, the transfer of power could have been an illusion.
“So let me get this straight,” he wrote. “The ‘anonymous’ founder of SushiSwap just out of the blue ‘transferred’ control of the project to the largest farmer of Sushi, and y’all are just going to take them at their word they’re two different people?”
However, Bankman-Fried has denied the allegations: “ I AM NOT AND NEVER HAVE BEEN NOMI. I DON'T EVEN EAT FISH,” he wrote on Twitter.
10) Anyway on the eve of the end of my chefdom I wanted to present one vision for Sushi. It's not the only one. But it's mine.
Now sushi is going to be yours, finally. Make of it what you will.
Bankman-Fried’s 'chefdom' will also be very short-lived: almost as soon as Bankman-Fried took control of the protocol, he made the decision to transfer ownership of the protocol to a number of users who would each hold individual pieces of a multi-signature key.
“Going to transfer control to a multisig,” he wrote on September 6th, adding that if you would like to be a member of this, please comment on this post with ‘I would like to be a multisig key holder for sushi’. We'll take the top 20 by likes, and have a proper vote on them.
“Will then transfer keys to that multisig group,” he continued, “After that -- Sushi shall be back in the community's hands.”
Bankman-Fried also said that he would be holding a vote on the multisig concept itself: “we'll put up a vote on this whole plan, if majority vote against then we'll scrap it and go back to the drawing board.”
4) will then transfer keys to that multisig group.
After that -- Sushi shall be back in the community's hands.
We'll put up a vote on this whole plan, if majority vote against then we'll scrap it and go back to the drawing board.
The reception of the plan appears to have been mixed: “Control of the multisig keys for sushiswap will be determined by a twitter popularity contest,” one twitter user wrote, adding “bullish”, perhaps sarcastically.
Control of the multisig keys for sushiswap will be determined by a twitter popularity contest.
However, as of press time it appeared that the plan was moving forward. Twelve candidates were in the race for becoming multisig holders, with Bankman-Fried at the top of the list.
In other words, the plan to save SushiSwap (and SUSHI token holders) seems like it may be working.
"There Are No Good Guys"
However, while a true crisis may have been averted, there seems to be a lot to unpack as far as lessons that can be learned from this sushi-themed series of events.
Mikko Ohtamaa, chief technical officer of FirstBloodIo, wrote that “there are no good guys” in this particular chapter of the DeFi development saga.
“There are only controversial characters on this one,” he said, including “commentators, farmers, traders, exchanges.”
For one thing, the fact that Chef Nomi decided to financially exit the project will always cast a shadow over SushiSwap’s history: “The developer(s) cashed out in a way that showed a lack of integrity,” Mikko wrote.
At the same time, the explosive popularity of the Sushi protocol also shows a lack of due diligence on the behalf of users and exchanges who eagerly bought into the project and listed SUSHI tokens.
“Users were greed--they thought [that] 1500% APY can be sustained,” Mikko said. And indeed, DefiRatereported at the end of August that SushiSwap was 'netting upwards of 1500% APY', and that the total value of capital locked in the ecosystem was quickly growing: by a whopping $1.27 billion was 'locked' inside the protocol just eleven days after its launch on Uniswap.
The huge amounts of money that were flowing into SushiSwap also prompted cryptocurrency Binance to quickly list SUSHI tokens, causing many to accuse the exchange of having neglected due diligence responsibilities for users.
“Binance listed $SUSHI in 2 days when it usually takes months for a good project,” Mikko wrote.
22/ CZ from Binance even tweeted that "we need to list fast to stay relevant"
Adel Meyer, the head of the DAPScoin project, also wrote on Twitter that “the whole $Sushi and @cz_binance story is exactly what’s wrong with the #crypto industry. Few days old project with unknown founder gets listed instantly on @binance FOR FREE where legit projects get charged $$$ or just never get a chance.”
On the same day that Chef Nomi exited SushiSwap, there was also a significant decrease in the total amount of value that is locked in the DeFi ecosystem. On September 2nd, total value locked peaked over $9.5 billion before crashing as low as $7.56 billion on Sunday, September 6th. At press time, total value locked had recovered $8.02 billion.
Rachel is a self-taught crypto geek and a passionate writer. She believes in the power that the written word has to educate, connect and empower individuals to make positive and powerful financial choices. She is the Podcast Host and a Cryptocurrency Editor at Finance Magnates.
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#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
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Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
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▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
