Prop Firm The Funded Trader Unveils Restructuring, and Transition of Operations to the Cayman Islands

Fazzaco learned that the USA-based prop trading firm The Funded Trader is the process of restructuring, and transitioning its operations to an entity located in the Cavman lslands. As a result, the company's ownership structure and operational location will be changed.

Late last month, Fazzaco covered the news that The Funded Trader has temporarily ceased all opeartions​, and has taken down it website.

The LinkedIn profile of Angelo Ciaramello, the co-founder of The Funded Trader, shows that Angelo's CEO role at the prop firm has ended in March 2024.

The firm noted in an X post that it is taking steps to determine how it can restructure the business so that profit is reserved for charitable causes only.

"Our core mission is to support all traders, past, present, and future, by offering merit-based opportunities through our platform and contributing to the community using the profits generated by the evaluation business," said the firm. "By reinvesting every dollar earned by the evaluation firm back into the community, we aim to provide the best possible experience for our traders."

The Funded Trader is streamlining its systems by archiving all old accounts, coupons, and live chat conversations. Besides, a leading support firm renowned for staffing and managing support organizations for some of the largest firms in the industry is being onboarded to provide comprehensive assistance to The Funded Trader's customers.