Fazzaco Weekly Digest: FTX's Liquidity Crisis; Capital.com Partners with Refinitiv; Interactive Brokers Opens New Office

Take a look at the latest happenings in this week's news digest from around the forex, fintech and crypto industry. Here are some of the top headlines from this week.

1. FTX on the Verge of Dying as Binance Bails on the White Knight Rescue​

Fazzaco learned that Binance, the cryptocurrency exchange, made an announcement earlier today (November 10), stating that the firm officially abandoned the intent to acquire FTX. FTX (FTT), the token, plummeted more than 80% to below $3 in 24 hours in response. Binance's bail on the acquisition is undoubtedly, the most fatal punch that hits on the troubled crypto firm.

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Two days ago, however, both companies were still happy to announce that Binance is planning to acquire FTX. "This afternoon (November 8), FTX asked for our help," said Changpeng Zhao, CEO at Binance on Twitter, "there is a significant liquidity crunch. To protect users, we signed a non-binding LOI, intending to fully acquire FTX.com and help cover the liquidity crunch. We will be conducting a full DD in the coming days."

2. Swiss Online Trading Broker Swissquote Targeted in a Massive DDoS Attack

Swissquote, a leading Swiss provider of online financial services, today confirms via its social media that the company was targeted in a massive DDoS attack (distributed denial-of-service attack), which managed to briefly take the system down.

"Yesterday, and partly today Swissquote experienced a massive DDoS attack. This affected the accessibility of our platforms and services due to the attack and the defence solution triggered by our IT systems and our Internet providers,"Swissquote said in a statement.

3. Crypto.com Halts Flow of Two SOL-based Stablecoins, USDC and USDT​

Cryptocurrency exchange platform Crypto.com has halted the flow of two top Solana ecosystem stablecoins, as the implosion of Sam Bankman-Fried's FTX empire continues to wreak havoc across the wider crypto ecosystem.

Citing "recent industry events" in an email to users Wednesday, Crypto.com said "effective immediately" the platform would be "suspending deposits and withdrawals of USDC and USDT on the Solana Blockchain in the Crypto.com App and Exchange."

4. VT Markets Adds 7 New Bond CFDs to Its Trading Lineup​

VT Markets, a global multi-asset broker, has added a selection of 7 bond CFDs to its vast array of trade offerings and assets. This addition further enables traders to expand their portfolios and gain exposure to some of the most exciting markets in the world.

Their new products feature bonds from countries such as the US and UK, among others. Some of the bonds being added to the trading platform include the US 10-year Treasury Bond Futures, UK Long Gilt Futures and Euro-Bund Futures.

5. Capital.com Joins Hands with Refinitiv to Boost Sustainable Investing​

Capital.com, a global trading and investing platform, has signed a strategic agreement with Refinitiv, which is part of London Stock Exchange Group, to enable traders directly access environmental, social and governance (ESG) and financial data from the Capital.com platform. In doing so, Capital.com aims at helping traders make informed, sustainable investment and trading decisions.

"To further break down the barriers to investing and to empower more people to make sustainable investment decisions for themselves, we have incorporated Refinitiv's market leading ESG data into the platform. Traders will have comprehensive ESG data at their fingertips, at no cost, at the precise moment they need to make an investment decision," said Kypros Zoumidou, Chief Commercial Director, Capital.com.

6. Ahmed Badr Leaves MultiBank After Short Stint, Joins LiteFinance as VP Business Development​

Fazzaco learned that LiteFinance, a multi-asset brokerage platform rebranded from LiteForex last year, has secured Ahmed Badr as Vice President Business Development.

Founded in 2005, LiteFinance is domiciled in Cyprus where its Liteforex (Europe) Ltd brand is regulated by CySEC. It also maintains an offshore branch in Marshall Islands which is subject to a more flexible, looser regulatory regime.

7. Interactive Brokers Continues Expansion Momentum, Opens New Office in Ireland​

Interactive Brokers, one of the biggest US-based brokerage firm, announced that it has opened a new office in Dublin, Ireland. Interactive Brokers established its Western European presence in Dublin in 2020 to serve the needs of European clients and support the company's rapid growth in this important market.

An Tánaiste Leo Varadkar T.D joined the Board and Executive leadership of Interactive Brokers Ireland Limited.