It’s that time of the week when we take a look back at the news stories that dominated the forex, fintech, and crypto worlds, in our best of the week segment.
iSignthis Increases Damage Claims Against ASX, Adds $200.7m
iSignthis (ASX: ISX) announced this week that it has increased the damage claims against the Australian Securities Exchange (ASX) Limited with the Federal Court of Australia, as well as further set out what the damages relate to.
According to a statement written by ISX on Tuesday, the payments identity company has added damages of $200.7 million against ASX. This relates to the exchange’s decision to suspend trading in iSignthis’ shares and continue to keep trading suspended.
The $200.7 million in damages is on top of the $264 million already claimed by ISX. As Finance Magnates reported, in recent weeks iSignthis filed an amended statement of claim with the Federal Court, claiming damages in excess of $264 million.
Read more on the iSignthis ASX Damages Claim here.
Crypto Markets See Red: BTC Headed Back to $10,000 While DeFi Bubble Bursts
After weeks of solid gains and strong plateaus, it seems that crypto markets are headed into the correction season. After a 48-hour price dive Finance Magnates looked at whether BTC will test $10,000 again?
In a Finance Magnates analysis, we looked at why BTC and other cryptocurrencies were falling and if the DeFi bubble really has burst.
Read more on the BTC drop and if the DeFi bubble has burst here.
Plus500 CEO Reveals its Preparing to Move into Physical Equity Trading
Plus500 is about to expand its operations into physical equity trading, moving the online contracts for difference (CFD) broker into mainstream stockbroking.
The new Chief Executive Officer (CEO) of Plus500, David Zruia, explained: “We are looking at share dealing. Many of our customers, as well as holding trading accounts, hold the underlying asset.”
As part of this expansion, Plus500’s CEO also revealed that the company is weighing takeover deals.
Read more on the Plus500 equity trading move here.
Elections and Markets: An Unbreakable BondGo to article >>
CFTC Provides Relief to Swap Dealer Transitioning from Soon-Defunct Libor
The Commodity Futures Trading Commission (CFTC) this week provided relief to market participants relating to the transition from swaps referencing LIBOR and other interbank offered rates.
The CFTC staff has issued three no-action letters providing the additional relief for swap transactions transitioning from Libor to alternative benchmarks, which applies to swap dealers and other market participants.
Read more on the CFTC Relief here.
Tesla & Apple Share Splits Could Boost Price by 33% in 12 Months
Dominating much of the news was the splits in Tesla and Apple stock shares. In a Finance Magnates Analysis, we broke down the numbers and looked at why eToro believes that the value of Tesla and Apple shares could surge by more than a third in the year following the split.
While this is the first time that Tesla has split its shares, this is the fifth time that Apple has divided its stocks. Find out why stock splits can play an important emotional role for investors
Read more on the Tesla and Apple Stock Splits here.
Ethereum Struggles Under the Weight of DeFi Growth: Is ETH Doomed to Fail?
In a popular Finance Magnates analysis we looked whilst DeFi’s popularity grows, Ethereum is becoming more and more congested. This means that ,For a growing number of Ethereum users, the “rent is too damn high.”
We looked at what this means for the future of ETH and why Devs may eventually look beyond Ethereum.
Read more on the ETH Future here.