Fazzaco Weekly Digest: StanChart Unveils Biggest Buyback; Executive Shuffle Continues at NAGA; Prop Startup Bullo Withdraws; ETH ETFs Approval

​Fazzaco continued extensively covering the latest trends in forex, crypto, fintech, and prop trading last week. We also published our opinions on U.S SEC approving ETH ETFs and its significance. Below are some of the most read news and articles from Fazzaco.

Standard Chartered Unveils Largest-Ever Share Buyback​

Last Tuesday, Standard Chartered announced its largest share buyback program to date, worth $1.5 billion, as part of a strategic move to return capital to shareholders and reflect the bank's positive outlook. This decision is underpinned by the bank's confidence in the continued economic growth across its core Asian markets and its efforts to manage costs effectively.

Executive Shuffle Continues at NAGA As CCO Sam Chaney Leaves​

The NAGA Group is experiencing a wave of executive changes as it navigates its impending acquisition by Capex.com. The latest departure is Sam Chaney, who served as Chief Commercial Officer (CCO) at NAGA. Chaney, a seasoned industry professional with a background that includes significant roles at INFINOX, Hantec Markets, OANDA, and GFT, joined NAGA Group just over a year ago.

Prop Startup Bullo Withdraws from Offering Prop Trading Services​

Prop trading startup Bullo has announced it will cease offering proprietary trading services. The decision, made public on July 30, follows the company's successful completion of its Series A fundraising round and reflects a strategic move toward regulatory compliance in key markets.

UK FCA Issues Warning Against 58 Unauthorized Companies​ & Malaysia SC Updates Investor Alert List: 19 Unauthorized Entities Added in July 2024

The United Kingdom's Financial Conduct Authority (FCA) last week (July 22-26, 2024) issued warnings against 58 new companies that are soliciting customers in the UK jurisdiction without any licenses or are clones of authorized platforms.

The Securities Commission Malaysia (SC) has updated its Investor Alert List, 19 unauthorized websites, investment products, companies or individuals were added to the warning list in July 2024 (until July 18).

Ethereum ETFs Are Going Strong, But Still Staying Behind BTC​

On July 23, Fazzaco reported that the U.S. Securities and Exchange Commission (SEC) officially approved Exchange-Traded Funds (ETFs) holding Ethereum (ETH) spot contracts. This milestone follows the SEC's approval of Bitcoin (BTC) ETFs in January, marking another significant step forward for cryptocurrencies this year.