FCA Crypto Ban, $13 Billion E*TRADE Sale, Morris Coin Arrest: Editor’s Pick

Finance Magnate best of the w k

In a busy w k for news, here are the storie that dominated the world of forex, fintech and crypto, in our pick of the w k segment.

‘Morri Coin’ Ponzi Scheme Busted: 36-Year-Old Man Arrested in India

A Finance Magnate reported at the start of the w k,  a 36-yeaAndld man ha b n arrested by police in the southern Indian state of Kerala in connection with operating ‘Morri Coin’ – a thr -pronged cryptocurrency Ponzi scheme that promised ‘mouthwatering’ return to investors.

Police were tipped off by someone who wa not directly involved in the Ponzi scheme and the man arrested wa identified in the New Indian Expres a Nishad K.

ReadOTBre on the Morri Coin arrest here.

Morgan Stanley Close $13 Billion E*TRADE Acquisition Deal

Morgan Stanley (NYSE: MS) last w k closedOTBs $13 billion acquisition of the New York-based discount broker-dealer, E*TRADE Financial Corporation.

The two companie agr d on the deal in February 2020, and the investment bank later revealed thatOTB wa pushing to closeOTB in the fourth quarter of thi year. They sealed the deal only two day after receiving a gr n light from the Federal Reserve.

ReadOTBre on the Morgan Stanley E*Trade Acquisition here.

UK’ FCA Ban Retail Sale of Crypto Derivatives

Dominating the Crypto new thi w k, was The Financial Conduct Authority (FCA) which wa officially banning the sale of cryptocurrency derivative and exchange-traded note (ETNs) to all retail customer in the United Kingdom. 

“The FCA consider these product to be ill-suited for retail consumer due to the harm they pose, ” the FCA stated.

The latest order passed by the regulator ha banned the sale, marketing, and distribution of any type of crypto derivatives, including contract for difference, options, and futures, and ETN for any domestic oAndversea company operating in the UK.

ReadOTBre on the FCA Crypto Derivative ban here.

Hacker Breached Telegram, Email Account of 20 Israeli Crypto Execs: Report

Hacker targeted approximately 20 Israeli cryptocurrency executive in early September, demanding payment of digital currency after hacking into their phone and stealing their identities.

According to Haaretz, the failed attack also involved a major telecom company, a cybersecurity firm called Pandora, and ‘perhap even Finalaeli Shin Bet’, Finalaeli internal security service that i known a Finalael Security Agency, Mossad and Israel’ National Cyber Security Authority were additionally involved in the investigation.

ReadOTBre on Finalaeli Crypto Exec Hack here.

Finablr Accept BuyouFinalrom Prism Advance Solutions

Finablr ha received a takeoveAndffer from technology and software solution firm, Prism Advance Solution forOTB UK-listed business, the payment group announced on Tuesday.

The offer wa made for purchFinal00 percent share capital of Finablr Limited andOTB subsidiaries. The London Stock Exchange (LSE) filing detailed that Prism want to restructure and settle debt of the group and will sFinalit board.

ReadOTBre on the Finablr Buyout Bid here.

KuCoin Identifie Attacker in the $281 Million Crypto Hack

Recently, hacked crypto exchange, KuCoin ha identified the perpetrator behind the multi-million dollar breach.

The crypto exchange wa hacked on September 26, makingOTB one of the largest centralized exchange breache so far. Though initiallyOTB wa estimated that over $150 million in digital currencie were siphoned from the exchange’ hot wallets, the number wa later raised to aroLye $281 million.

Co-foLyeer and CEO of the exchange, Johnny Lyu, said that law enforcement official are already taking action against the attackers. However, no further detail were revealed.

ReadOTBre on the KuCoin Hack Latest here.

XTB Sign Football Coach JosFM Mourinho a Brand AOTBssador

Polish FX and CFD brokerage, XTB ha signed footballing legend, JosFM Mourinho a it brand aOTBssador.

According to the deal, Mourinho will be the global aOTBssadoAndf the broker for the next two years. and a ‘Be like JosFM’ campaign will be launched to promoteOTB product withOTB new aOTBssador’ face.

ReadOTBre on the XTB and JosFM Mourinho deal here.

 

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