BTC Roars; Binance Got Sued; CySEC Launches CASPs; Oct Institutional Trading; Seychelles FX Licensing; Amiran Azaladze's Dirt

Fazzaco continued extensively covering the latest trends in forex, crypto, fintech, and prop trading last week. In addition to the news, we've published the scam-exposure follow-up, "Alleged B2B Hub Scam Pt. II: A "Fake Biography" Under "Shell Companies" - Amiran Azaladze's Dirt", exposing the unspeakable term of Amiran, the alleged fraud.

Below are news and articles for the Fazzaco's last week recap.

Bitcoin Hits 80000 Milestone in Historic Surge

Bitcoin has made headlines by surpassing the $81,000 threshold for the first time in history, marking a significant milestone with a market capitalization exceeding $1.5 trillion. On November 10, the leading cryptocurrency rose nearly 4.5%, reaching a peak of $81,178. This surge also sparked rallies among other cryptocurrencies, including Ether and Dogecoin, as investors reacted to the latest market dynamics.

FTX Sues Binance and its Former CEO CZ for $1.8B​

FTX has filed a lawsuit against Binance and its former CEO Changpeng Zhao (CZ), claiming that $1.8 billion was fraudulently transferred when Binance sold its FTX stake back to the now-defunct exchange in 2021. The lawsuit, filed in Delaware bankruptcy court, argues that the funds used in this deal originated from FTX's trading division, Alameda Research, which was allegedly insolvent at the time and lacked the capital to complete the transaction legitimately.

CySEC Begins Preliminary Assessment for Crypto Providers Under MiCAR

The Cyprus Securities and Exchange Commission (CySEC) has officially announced the commencement of a preliminary examination phase for Crypto-Asset Service Providers (CASPs), ahead of the full enforcement of the Markets in Crypto-Assets Regulation (MiCAR) on December 30, 2024. This step is designed to streamline the authorisation and notification procedures for businesses seeking to operate as CASPs in Cyprus under MiCAR, the EU regulation aimed at creating a comprehensive framework for crypto-asset markets.

Institutional Spot FX Trading Volume Total Sees A M-o-M 9.33% Dip in October​

The institutional spot FX trading volumes of major platforms have seen all-round decline across October 2024. Among the five major institutions, the total sees a 9.33% rise monthly. The max. drop comes from CME EBS, down 14.14%.

A Gateway to Forex Licensing VOL II: Seychelles Securities Dealer License

This is the second chapter of our series titled "A Gateway to Forex Licensing." In this article, we explore the process of obtaining a Seychelles Securities Dealer License, highlighting essential steps and requirements. More chapters will follow in this series, covering various aspects of forex licensing in different jurisdictions. Redirect to VOL I'Mauritius Investment Dealer License'

Alleged B2B Hub Scam Pt. II: A "Fake Biography" Under "Shell Companies" - Amiran Azaladze's Dirt​

Untruthful biography, shell companies, multiple accusations. The more we dig, the more dirt we found about Amiran Azaladze, the so-called CEO of B2B Hub.