News 

Trump ordered Kelly to approve Kushner’s top-secret clearance: report

“Last month, NBC News reported Kushner’s initial top-secret security application was rejected, and earlier this month, two House Democrats petitioned the White House to revoke Kushner’s clearance, based on the NBC News report” writes Mike Murphy for marketwatch.com. President Donald Trump ordered for his adviser and son-in-law, Jared Kushner, to be granted a top-secret security clearance last year despite warnings from intelligence officials, the New York Times reported Thursday.Trump in January told the Times that he had nothing to do with Kushner’s security status. Source: marketwatch.com

Read More
News Stocks 

Gap stock skyrockets over 20% after retailer says it will spin off Old Navy

“Sonia Syngal, top Old Navy executive, will also continue to lead it as a stand-alone company, the retailer said” writes Claudia Assis for marketwatch.com. Old Navy, with about $8 billion in annual revenue, would be able to “extend its category leadership” and have flexibility, focus and control needed to grow, the company said.Analysts polled by FactSet had expected earnings of 67 cents a share on sales of $4.7 billion for the company.Gap Chief Executive Art Peck will hold the same position with the new company after the split.Gap Inc. stock…

Read More
News 

Cryptojacking-Associated Mining Service ‘Coinhive’ Shuts Down

“Controversial cryptocurrency mining service Coinhive will be shutting down its operations on March 8th due to financial inviability, a blog post from the company announced on February 26th” writes Rachel Mcintosh for financemagnates.com. Coinhive’s mining service is a JavaScript-based operation that can be installed into website.In February 2018, Microsoft remove eight Windows 10 applications from its app store following the discovery of XMR-mining code within them. Source: financemagnates.com

Read More
Crypto News 

Japan Saw 7000 Crypto-Related Money Laundering Cases in 2018

“Japan has seen a massive rise in the cryptocurrency-related money laundering cases as more than 7000 cases were reported to the police in 2018 alone” writes Arnab Shome for financemagnates.com. Moreover, combining the financial transactions related to money laundering and other abusive cases, Japan has registered 417,465 cases in 2018, compared to only 17,422 reports in the previous year.Gox, one of the first established crypto exchanges, shut its doors, leaving millions in clients’ funds in jeopardy.After the overnight ban of crypto exchanges in China, Japan became the top country handling…

Read More
Brokers Markets News 

IG Partnership with IB Forest Park FX Reveals US Client Value

“And for those traders, IG will be a welcome addition to the market” writes David Kimberley for financemagnates.com. Having paid $40 million for the site, it makes sense that the broker is now trying to use it to attract new clients.Given Forest Park FX’s reputation for adding value to clients and our prior experience with them in Europe, they were always at the top of our list.” Working alongside the broker, FP will be providing its clients with market access through IG, cash back rebates for retail traders that use…

Read More
Crypto Markets News 

Figure Technologies Secures $65 Million from Venture Capitals

“Blockchain analytics firm Coin Metrics raised $1.9 million in a seed funding round from a number of venture capitals, Finance Magnates reported earlier today” writes Arnab Shome for financemagnates.com. The blockchain-based home equity loan startup has raised $65 million in a Series B funding round led by RPM Ventures.Many notable market players participated in the funding round including Morgan Creek, Ribbit Capital, DCM, DCG, and Nimble Ventures.Many blockchain-oriented funds are also becoming popular as Pangea Blockchain Fund recently secured $22 million in its initial funding round and was backed by…

Read More
Crypto News 

Fidelity Backs Coin Metrics in $1.9 Million Funding Round

“The asset management giant has invested in $1.9 million seed funding round of Coin Metrics” writes Arnab Shome for financemagnates.com. Earlier this month, CipherTrace, another company in the same sector, raised $15 million in a funding round from venture capital firms.With the boom in the blockchain sector, a massive demand is created in the market for blockchain analytics companies.New York-based Chainalysis recently raised $30 million in Series B funding round and vowed to expand its reach across the Atlantic by opening a new office in London. As Finance Magnates recently…

Read More
Crypto News Platforms 

Voyager to Acquire Wallet Platform Ethos.io for $4 Million

“The crypto brokerage platform is going to acquire the wallet startup Ethos.io for around $4 million” writes Arnab Shome for financemagnates.com. In addition, the wallet platform’s former owners will also nominate a member of the board of directors once they at least received 3.5 million shares.The company will transfer 7 million of its common shares, valued at CAD 0.80 each share – putting the total value of the deal at CAD $5.6 million (around $4 million).Also, as a part of the deal, Ethos’ founder and CEO Shingo Lavine will take…

Read More
News 

DMM Leads Japanese Charts, Surpasses 700,000 Accounts

“With a result of 707,730 accounts, DMM Securities left its competitors far behind” writes Sylwester Majewski for financemagnates.com. Once again Japanese DMM Securities topped the rankings of the biggest retail forex brokers in terms of the number of opened accounts.DMM Securities is not only present in the retail forex sphere but was also active in the cryptocurrency arena.In 2018 we saw further growth of the Japanese retail forex market. Source: financemagnates.com

Read More
Brokers Markets News Platforms 

Exclusive: VIBHS’ CEO on Client Profitability and China

“IBs aside, the harder part of doing business in China is proving to be getting money out of the country” writes Victor Golovtchenko for financemagnates.com. The other issue that Irvine thinks is affecting the market is the ongoing trade dispute between the US and China.We recently sat down with the CEO of VIBHS Financial, Angus Irvine, to discuss the latest market changes and how the company is coping with the new market environment.The majority of business that we’ve been acquiring in China was via contacts made at various expos and…

Read More