$30m ICO and $100m Cryptocurrency Fund – Best Stories of the Week

Invest.com, XTB, IG Group and more featured in last week's top stories.

The trend towards full adoption of cryptocurrencies by the online trading industry made some major headlines last week. In addition to this, we saw an interesting court battle over a brand in Europe and an investigation of IG Group’s Nadex in the US.

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On Monday we reported that the CFTC has published a review of Nadex – the US-regulated binary options subsidiary of IG Group – finding that almost all trades were executed by two firms acting as market makers on the exchange.

Market Risk Management and Group One Futures Trading LLC took the other side of the transaction in 99 percent of all cases. MRM was on one side of approximately 70 percent of trades, and Group One 29 percent.

$100 million fund

On Tuesday we exclusively revealed that the founder of Tradologic Ilan Tzorya is re-emerging with a new fund that aims its focus on crypto and fintech.

Tzorya told Finance Magnates: “We are planning to raise about $100 million to focus on various segments of which Crypto is probably the largest one. We are sourcing funding from several family offices and at this point are already structuring the holding structure of this investment vehicle. You will be the first to know once we make good progress!”

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On Wednesday we reported that Alpha Capital Markets, also known as ACM Group, is continuing to grow briskly this year. Finance Magnates obtained a copy of the company’s regular quarterly report showing that the firm marked another increase in revenues, hitting £21.9 million for the nine months ending June 30th 2017.

In its report, the company’s management outlines that growth has been driven by newly acquired institutional clients. The company is continuing to grow strongly via a diverse mix of market making and fee-based income.

X-Trade Vs XTrade

On Thursday we reported that XTrade lost the trademark court battle in Germany to the publicly listed Polish brokerage X-Trade Brokers (XTB).

The win for XTB in a second EU jurisdiction is creating a convincing series of precedents, which could spread across the continent.

Invest.com Group

On Friday we reported that the ICO for the Stox prediction platform has reached its $30 million target. The Stox token sale ended after hitting the hard-cap of 148,000 Ethereum.

Stox is being developed by the invest.com group and will deploy its smart token STX using the Bancor protocol to guarantee liquidity on Ethereum.

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