Global Brokerage gets approval for Chapter 11 restructuring and delisting, shares plunge LeapRate

December 12, 2017 BY LeapRate Staff

Global Brokerage gets approval for Chapter 11 restructuring and delisting, shares plunge

Global Brokerage, Inc. (NASDAQ:GLBR), formerly known as FXCM Inc, announced that 78.5% of the holders of its $172 million of outstanding Convertible Notes voted to approve the company's reorganization plan. The plan will see GLBR enter Chapter 11 bankruptcy reorganization, with the convertible notes "converted" to become non-convertible, their interest rate hiked from 2.25% to 7%,…

The world’s largest crypto IPO postponed

December 11, 2017 BY LeapRate Staff

$15 million ICO of restaurant review iPhone app Munchee pulled on registration concerns

A California-based company selling digital tokens to investors to raise capital for its blockchain-based food review service halted its initial coin offering (ICO) after being contacted by the U.S. Securities and Exchange Commission (SEC), and agreed to an order in which the SEC found that its conduct constituted unregistered securities offers and sales. According to…

December 11, 2017 BY Mariela Naydenova

Litecoin - the real winner after CBOE launched bitcoin futures

Litecoin is currently the fifth largest cryptocurrency available to investors by market capitalization (around $11 billion). According to Coinbase, the digital currency is up with +4,752.77% annual change. Now, in just under 24 hours, Litecoin's price jumped with almost 25%, reaching a new high of $197, just after CBOE launched bitcoin futures on 10th December,…

December 11, 2017 BY LeapRate Staff

Day trader Joseph Spera charged with Insider Trading

The U.S. Securities and Exchange Commission has charged a former day trader with making more than $1 million in illegal insider trading profits as part of a ring that allegedly stole confidential information from investment banks and clients so they could trade in advance of secondary stock offerings. The SEC alleges that Joseph Spera schemed…

December 11, 2017 BY Mariela Naydenova

Two major companies applying for Bitcoin ETFs after CBOE launched bitcoin futures

Just after CBOE, the Chicago-based exchange, launched Bitcoin futures, two firms have filed applications for bitcoin ETFs that trade in crypto derivatives. CryptoCoinsNews just reported that, according to the SEC public filing system, the commission has received new applications for both REX Bitcoin Strategy ETF and REX Short Bitcoin Strategy ETF, as well as VanEck…

December 11, 2017 BY Mariela Naydenova

Bitcoin futures off to a great start on Wall Street

On 10th of December, CBOE Global Markets launched the new bitcoin product on the market - bitcoin futures. CBOE became the first exchange to offer bitcoin futures, while CME launches them on 17th of December. While many expected the price of Bitcoin to crash and for the futures to trade at a relatively low price,…

December 11, 2017 BY LeapRate Staff

FCA gets its guilty verdict against three charged with £2.7 million boiler room scam

UK financial regulator the FCA has announced that in a criminal prosecution which it initiated, three defendants have today been found guilty for their roles in a series of boiler rooms which led to the loss of more than £2.7 million of investors’ funds. A further three defendants had pleaded guilty earlier in the proceedings.…

December 11, 2017 BY Valentina Kirilova

Luxembourg regulator CSSF fines shareholder of Orco Property Group S.A.

The Commission de Surveillance du Secteur Financier (CSSF) informed that it has sanctioned the ultimate and indirect controlling shareholder (the “Sanctioned Person”) of Orco Property Group S.A. (the “Issuer”) for market manipulations on the shares of the Issuer (ISINLU0122624777) in accordance with the provisions of the Law of 9 May 2006 on market abuse (the…

December 11, 2017 BY LeapRate Staff

What is the Effect of Income Tax Changes on US Economic Growth?

The following article was written by Reem Aboul Hosn, Research and Market Analyst Officer at CFI Markets Ltd. In a significant step that marks Donald’s Trump major achievement of his presidency, Republicans have passed US tax reform in an attempt to promote economic growth, create jobs and encourage US companies to invest more said Mitch McConnell,…

December 11, 2017 BY Valentina Kirilova

FCA warns against Carus Solutions Ltd firm

UK financial regulator Financial Conduct Authority (FCA) has issued its latest warning against an unregulated financial services provider targeting UK consumers. The FCA’s latest warning is against the firm Carus Solutions Ltd. Carus Solutions Ltd is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated…