Cryptosweep in North America, Interview with GMO: Best of the Week

Catch up on last week's top stories.

Rumours with consequences

When a major cryptocurrency exchange lists a new coin, that coin usually gains a lot of value. But the actual listing is not always necessary; a coin can also gain a lot of value even if people only think that it is going to be listed.

Join the iFX EXPO Asia and discover your gateway to the Asian Markets

If you enter the words ‘Coinbase’ and ‘0x’ into an internet search engine you will see a lot of speculation about the latter being listed by the former; there is as yet no evidence that this will happen.

XTX launches in Singapore

Liquidity provider XTX Markets announced the launch of a new service in Singapore in partnership with the Monetary Authority of Singapore.

The trading system will go live in June.

Operation Cryptosweep

Financial authorities throughout North America have launched a coordinated effort to investigate cryptocurrency operations, announcing 70 probes in the US and Canada at an industry event last week.

Operation Cryptosweep, as it is called, is the brainchild of the North American Securities Administrators Association in association with provincial Canadian and American financial authorities, of which there are more than 40.

First institutional cryptocurrency exchange 

A financial technology called LMAX Exchange Group has launched a new exchange called LMAX Digital, which will allow institutional investors to invest in a selection of cryptocurrencies.

Suggested articles

ATFX as One of the Brand Sponsors of Finance Magnates London Summit 2021Go to article >>

Bitcoin, Bitcoin Cash, Litcoin, Ethereum, and Ripple are the options available, chosen because they provide the most liquidity.

Bitfinex loses another person

A self-employed cryptocurrency consultant with an impressive social media following mentioned in one of his Youtube videos last week that the Chief Strategy Officer of Bitfinex, Phil G. Potter, has quit.

Bitfinex is one of the biggest cryptocurrency exchanges in the world but has been criticised because of its links to Tether, a cryptocurrency supposedly tied to the value of the US dollar. Potter is also CSO of Tether.

Interview with CEO of GMO Click

GMO Click is a subsidiary of Japanese Giant GMO Internet, and one of the world’s biggest foreign exchange providers by trading volume.

Finance Magnates spoke with CEO Hiroyasu Kito about upcoming changes to the rules governing foreign exchange trading in Japan.

Plus500 applies to trade on London Stock Exchange

Plus500 is a foreign exchange broker that has traded on the London Stock Exchange’s alternative investment market since 2013. It has now applied to move to the main market.

CEO Asaf Elimelech, said: “We believe that the listing and our shares being traded on the main market will provide a number of benefits for shareholders, including increasing the company’s profile and status, providing currency for growth and facilitating potential inclusion in FTSE indices.”

Got a news tip? Let Us Know