Updates on Gold-i, OKX, FTMO, Naga; Bybit Hacked; EBC Group's Economy Review...More News Recap from Last Week

Fazzaco continued extensively covering the latest trends in forex, crypto, fintech, and prop trading last week. In addition to the news, we've also released the review on Brazil's Growth Dilemma, an article by EBC Group. Below are news and articles for the Fazzaco's last week recap.

Gold-i and Edgewater Forge Partnership to Expand Liquidity Solutions

Edgewater Markets, a major player in non-bank gold liquidity, has entered into a strategic integration with Gold-i, a leading technology provider in the financial sector. The collaboration links Edgewater's low-latency trading systems and white-label offerings with Gold-i's MatrixNET platform, a sophisticated tool for liquidity management and distribution. This integration is designed to provide Gold-i's clients with access to Edgewater's extensive network of liquidity partners, offering competitive pricing in precious metals, forex, and non-deliverable forwards (NDFs).

OKX Resolves U.S. Regulatory Investigation with $505 Million Settlement

OKX has settled a U.S. Department of Justice (DOJ) investigation, agreeing to pay a total of $505 million in penalties and forfeited earnings. The settlement follows findings that certain U.S. customers had previously accessed the platform without the necessary licensing, attributed to compliance gaps from earlier years.

FTMO Rolls out New Community and Loyalty Program Post-OANDA Acquisition

A month after the historic acquisition of OANDA by Czech-based FTMO, the prop trading firm is accelerating its growth with the launch of a new prop trading community and a loyalty program. These new developments signal a clear separation of OANDA's prop trading business, indicating its independent trajectory within the FTMO umbrella.

NAGA MENA Elevates Paul Turner to Senior Executive Officer

Financial services institute NAGA's MENA branch has announced the promotion of Paul Turner from Executive Director to Senior Executive Officer, effective immediately. The move is part of the company's leadership restructuring and reflects Turner's expanded responsibilities in overseeing strategic initiatives, regulatory compliance, and operational performance.

Bybit Hit by Record $1.5 Billion Hack

Cryptocurrency exchange Bybit has been the victim of what researchers are calling the largest digital heist in history, with hackers stealing an estimated $1.5 billion in ether tokens. The breach, which was confirmed by Bybit CEO Ben Zhou, occurred in the exchange's "cold wallet"—a type of storage typically deemed more secure due to its offline nature. Despite its supposedly heightened security, this cold wallet was compromised, leading to the theft.

Betting Against the Odds: Brazil's Growth Dilemma and EBC's Take on the Future​

Brazil's economy is playing with fire as soaring rates, shifting trade winds, and fiscal puzzles create uncertainty. EBC reads the smoke signals to ensure that you don't get burned.