tl;dr
eToro has announced it will reduce its cryptocurrency offerings in the US following a settlement with the SEC, limiting the US platform to Bitcoin, Bitcoin Cash, and Ethereum. The company will pay $1.5 million in penalties and US customers have 180 days to sell any unsupported crypto assets. The SEC...
eToro has announced it will reduce its cryptocurrency offerings in the US following a settlement with the SEC, limiting the US platform to Bitcoin, Bitcoin Cash, and Ethereum. The company will pay $1.5 million in penalties and US customers have 180 days to sell any unsupported crypto assets. The SEC's investigation found eToro allowed US customers to trade crypto assets as securities without proper registration. This decision marks a major shift in eToro's US operations, aligning with federal securities laws, while outside the US, users will continue to have access to over 100 crypto assets.
As part of the settlement, eToro will pay $1.5 million in penalties and limit its US platform to only three cryptocurrencies: Bitcoin (BTC), Bitcoin Cash (BCH), and Ethereum (ETH). US customers have 180 days from the SEC’s order to sell any unsupported crypto assets. After this period, eToro will liquidate these assets and return the proceeds to customers. The SEC’s investigation revealed that eToro has allowed US customers to trade crypto assets as securities without proper registration since at least 2020. This lack of compliance with federal securities laws prompted the regulator to take action, leading to the settlement.
This decision marks a major shift in eToro’s US operations, aligning its services with federal securities laws. As of September 11, 2024, US users can only open new positions in BTC, BCH, and ETH, and by March 11, 2025, they will only be able to close these positions. Any remaining unsupported crypto assets will be liquidated by March 18, 2025, with proceeds transferred to users’ cash balances. Outside the US, eToro users will continue to have access to over 100 crypto assets.
“As a company serving over 38 million registered users from more than 75 countries, the terms of the settlement will have a minimal impact on our global business. We continue to experience strong growth and remain committed to becoming a public company in the future,” eToro’s Co-founder and CEO Yoni Assia told BeInCrypto. Assia reaffirmed eToro’s commitment to compliance, noting that the company has been offering regulated securities globally since before the invention of cryptocurrency.
“As an early adopter and global pioneer of cryptoassets as well as a significant player in regulated securities, it is important for us to be compliant and to work closely with regulators around the world. We appreciate the importance of regulation to protect consumers. We now have a clear regulatory framework for cryptoassets in our home markets of the UK and Europe, and we believe we will see similar in the US in the near future,” Assia stated.
More about Forum Energy Technologies Inc
Forum Energy Technologies Inc,Forum Energy Technologies, Inc. designs, manufactures, and distributes products for the oil and natural gas industry in the United States and internationally. The company is headquartered in Houston, Texas.
Sector: Technology
Industry: Oil & Gas Field Machinery & Equipment
Market Cap: 186.712B
Dividend Yield: None
EPS: None
P/E Ratio: -2.25
Stock Price: $68.64
Change: -0.0335
Volume: 772.059M
Avg. Volume: 30
Beta: -0.578
Market Cap/Sales: 0.107
More about C3 Ai Inc
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C3 Ai Inc (C3) operates in the Technology sector and is categorized under Services-Prepackaged Software industry. The company's market capitalization stands at 2731209000 with no dividend yield. The stock price change percentage over the last 52 weeks is -2.28, and its price-to-earnings ratio is 2.674. The earnings per share (EPS) is at -0.855, and the trading volume is 325433000. The current stock price is 25.11. C3's beta value is 0, and its 50-day moving average is 0.205.
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More about mF International Limited Ordinary Shares
Stock Analysis Summary Stock Analysis Summary
Company: mF International Limited Ordinary Shares
Sector: TECHNOLOGY
Industry: SERVICES-COMPUTER PROGRAMMING SERVICES
Volume: 7,842,400
Price: $9.86
Dividend: None
Change: $0.06
52-Week Range: $2.759 - $0.207
Market Cap: 31,961,200
P/E Ratio: None
EPS: $1.179
EPS Growth: -0.021
More about Rush Street Interactive Inc
Rush Street Interactive Inc, Rush Street Interactive, Inc. is an online casino and sports betting company in the United States and Latin America. The company is headquartered in Chicago, Illinois.
Industry: TRADE & SERVICES
Sector: SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION
Market Cap: 2153640000
Dividend Yield: None
Beta (5Y Monthly): -0.09
PE Ratio: 10.78
EPS: -0.0084
Shares Outstanding: 801545000
Forward Annual Dividend Rate: 13.03
Forward Annual Dividend Yield: 0
Profit Margin: 0.888
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The Importance of Support and Resistance Levels in Technical Analysis
Support and resistance levels are critical elements in technical analysis. They represent price levels where a stock often reverses its direction, providing valuable insights for traders and investors.
Breakouts above resistance or below support levels can signal potential trend reversals or continuations, offering strategic entry or exit points.
Identifying support and resistance levels can be achieved through various methods, including chart pattern recognition, moving averages, and pivot points.
The Role of Indicators in Predicting Market Trends
Technical indicators, such as the Relative Strength Index (RSI) and Bollinger Bands, help assess the strength and potential duration of a trend, as well as overbought or oversold conditions.
Combining multiple indicators can enhance the accuracy of trend predictions and provide confirmation signals for potential market movements.
Recognizing Patterns and Trends for Informed Decision-Making
Patterns like the head and shoulders pattern can indicate trend reversals, while recognizing bullish or bearish trends is crucial for capitalizing on market movements.
Understanding these patterns and trends empowers traders to make informed decisions, manage risks, and capitalize on potential opportunities in the market.
More about Banco De Chile
Banco De Chile Stock Analysis Banco De Chile Stock Analysis Summary
Banco De Chile (Banco de Chile) is a leading provider of banking and financial products and services in Chile. The company, headquartered in Santiago, Chile, operates in the finance and commercial banks sector.
Key Metrics:
- Market Cap: 12,349,328,000
- Current Price: $8.34
- 52-Week High: $8.08
- 52-Week Low: $2.93
- Volume: 5,702.8
- Dividend Yield: 0.485%
- Market Cap (in USD): 2,880,381,125,000
- Price-to-Earnings Ratio: 25.65
- EPS: $-0.027
- PE Ratio: -0.007
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As a seasoned Technical Analyst with over 25 years of experience in the stock market, my approach is fundamentally data-driven, delving into market charts, trends, and various technical indicators such as moving averages, the Relative Strength Index (RSI), and Bollinger Bands.
I employ technical jargon such as 'support and resistance levels,' 'breakouts,' 'head and shoulders pattern,' and indicators of 'bullish or bearish trends' to demystify market analysis and provide actionable insights. It's crucial to note that past market behavior does not guarantee future performance, and potential risks should be carefully considered.
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