ChainCatcher news, the CEO of the online brokerage eToro for cryptocurrency and stock trading, Yoni Assia, stated on Tuesday that the cryptocurrency trading volume on the eToro platform surged over 500% in November compared to the same period in 2023, reflecting the bullish sentiment among retail investors. Assia mentioned in an interview during Abu Dhabi Finance Week: "Whenever we see historical highs, we notice a significant increase in customer engagement."In September of this year, the company reached a settlement with the U.S. Securities and Exchange Commission (SEC) for $1.5 million. Assia stated that this settlement does not hinder the company from relisting assets in the U.S. again—especially if the incoming Trump administration relaxes cryptocurrency enforcement, which is widely anticipated.

ChainCatcher news, according to Bloomberg, informed sources revealed that the online brokerage firm eToro, which offers cryptocurrency and stock trading, is collaborating with Goldman Sachs to prepare for an initial public offering (IPO) in the United States. eToro is considering going public as early as the second quarter, although this timeline may change. The company stated that its listing valuation could exceed the $3.5 billion achieved in last year's private financing. Informed sources indicated that details such as the issuance timing may change, and more banks may join the list.Previously, eToro attempted to go public with a valuation of $10.4 billion by merging with a special purpose acquisition company led by serial trader Betsy Cohen. Both parties mutually agreed to terminate the transaction at the end of 2022.

ChainCatcher news, according to FinanceFeeds, eToro has expanded its cryptocurrency offerings in Germany by launching a spot trading service, whereas previously German users could only trade cryptocurrency contracts for difference (CFDs) on the platform. eToro announced that it has partnered with two local companies regulated by BaFin to support the spot cryptocurrency trading service, with DLT Finance responsible for spot trade execution and Tangany handling digital asset custody.Under the new arrangement, German traders will interact with DLT Finance as their counterparty, while Tangany will hold their cryptocurrency assets on behalf of eToro. To trade, users need to agree to the terms of service of the three entities (eToro, DLT Finance, and Tangany), and eToro plans to charge a 1% fee on cryptocurrency transactions.

ChainCatcher news, according to Bloomberg, fintech company Revolut Ltd. is spinning off its €8.5 billion ($9.5 billion) wealth management product into a standalone app called Revolut Invest, seeking to compete with companies like Robinhood and eToro for a larger share of the retail investor market.The Revolut Invest app will initially offer nearly 5,000 assets, including U.S. and European stocks, exchange-traded funds, commodities, bonds, and new products such as contracts for difference. Rolandas Juteika, Revolut's regional head of wealth and trading, stated in an interview that the app is currently being tested in Greece, Denmark, and the Czech Republic, and is set to launch in other European Economic Area countries by the end of this year, with plans to double the number of assets available for trading.

ChainCatcher News, the U.S. Securities and Exchange Commission announced today that eToro USA LLC has agreed to pay $1.5 million to settle allegations in Hong Kong that it operated unregistered brokers and unregistered clearing agencies on its trading platform, facilitating the buying and selling of certain crypto assets as securities. eToro has agreed to cease violations of applicable federal securities laws and will only offer limited crypto assets for trading.eToro publicly announced that going forward, in accordance with the U.S. Securities and Exchange Commission (SEC) order in this matter, the crypto assets that U.S. customers can trade on the company's platform will be Bitcoin, Bitcoin Cash, and Ethereum, and it will provide its customers with the ability to sell all other crypto assets within 180 days of the SEC order being issued.

ChainCatcher news, according to monitoring by The Data Nerd, a suspected eToro whale address withdrew 1.5 million ONDO (approximately $1.93 million) and 120 million JASMY (approximately $4.31 million) from Coinbase 14 hours ago. Currently, the address holds 3.8 million ONDO (approximately $5 million).

ChainCatcher news, multi-asset investment platform eToro is seeking a valuation of over $3.5 billion for its IPO, with the company believing that while the UK is its largest market, the US remains a potential listing destination. eToro is currently considering an IPO in New York or London.eToro founder and CEO Yoni Assia stated that going public in the US would allow the company to reach a broader base of investors than in the UK market.

ChainCatcher news, according to the official website, multi-asset investment platform eToro has announced that it has obtained a Financial Services Permission (FSP) from the Abu Dhabi Global Market Financial Services Regulatory Authority (ADGM). This approval allows eToro to operate as a broker for securities, derivatives, and crypto assets in the United Arab Emirates.

ChainCatcher news, social investment platform eToro has announced that it has obtained registration as a Crypto Asset Service Provider (CASP) from the Cyprus Securities and Exchange Commission (CySEC). This registration will authorize it to provide regulated crypto services to all EU countries through an entity called eToro Europe Digital Assets. This registration will specifically take effect once the EU Crypto Assets Market Regulation (MiCA) is implemented in December 2024.

ChainCatcher news, the Australian Securities and Investments Commission (ASIC) has filed a lawsuit against the multi-asset investment platform eToro for offering Contracts for Difference (CFD) products to retail investors, arguing that its market positioning is too broad and violates design and distribution rules.ASIC stated: "The CFDs offered by eToro are high-risk and volatile, and the platform's target market screening tests did not properly exclude unsuitable customers from trading this product; from October 5, 2021, to June 14, 2023, nearly 20,000 of eToro's customers incurred losses in CFD trading."It is reported that Contracts for Difference are leveraged derivative contracts that allow buyers to speculate on the price movements of underlying assets, such as foreign exchange rates, stock market indices, individual stocks, commodities, or cryptocurrencies. eToro's cryptocurrency CFDs allow for leverage of up to two times on certain assets, while others involve stocks, currencies, commodities, and precious metals.

ChainCatcher news, the cryptocurrency trading platform eToro has agreed to a $120 million secondary equity sale, which will value the company slightly below the $3.5 billion it achieved in a funding round earlier this year. The sellers of this secondary sale are existing shareholders and early employees who have exercised options. eToro stated that this provides an opportunity for them to gain liquidity on their equity.ChainCatcher previously reported that after canceling its plans to go public via SPAC at a valuation of $10.4 billion in 2022, the stock and crypto investment platform eToro completed a $250 million funding round at a valuation of $3.5 billion, with participation from ION Group, Social Leverage, SoftBank, and Spark Capital.

ChainCatcher news, the Spanish bank (the country's central bank) has approved eToro to register as a service provider for virtual currency exchange for fiat currency and electronic wallet custody services.

ChainCatcher news, eToro.US will delist a portion of cryptocurrency tokens for its U.S. customers in response to recent legal actions by the SEC.eToro.US announced that starting from July 12, U.S. customers will no longer be able to open new positions in Algorand (ALGO), Decentraland (MANA), Dash (DASH), and Polygon (MATIC) tokens. However, customers will still be able to hold and sell their existing positions in these tokens. (source link)

ChainCatcher news, according to CNBC, Twitter will allow its users to access stocks, cryptocurrencies, and other financial assets through a partnership with social investment platform eToro. Starting Thursday, the Twitter app will launch a new feature that will allow users to view market charts; buy and sell stocks and other assets from eToro; and see market data for more financial tools. (source link)

ChainCatcher news, according to TechCrunch, after canceling its plan to go public via SPAC at a valuation of $10.4 billion in 2022, the stock and crypto investment platform eToro completed a $250 million funding round at a valuation of $3.5 billion, with participation from ION Group, Social Leverage, SoftBank, and Spark Capital.Previously, ChainCatcher reported in May last year that eToro achieved significant success in 2021 due to its "bet" on the cryptocurrency business and announced its entry into the NFT space, launching a $20 million fund to purchase blue-chip NFTs and support emerging projects in the field. (Source link)

ChainCatcher news, according to The Block, eToro announced today the acquisition of portfolio management company Bullsheet. The specific terms of the acquisition were not disclosed, but according to a source familiar with the matter, the deal is worth several million euros.ChainCatcher previously reported that eToro announced a 6% global layoff in July this year, with its CEO and co-founder Yoni Assia stating that the layoffs would help the company take a more balanced approach between growth and profitability. (The Block)