tl;dr
Cryptocom, a crypto trading platform, has acquired Watchdog Capital LLC, a US-based broker-dealer registered with the SEC, FINRA, and SIPC. This acquisition allows Cryptocom to offer US customers access to stocks and the options market. The move aligns with the platform's strategy to integrate tradi...
Cryptocom has acquired Watchdog Capital LLC, a US-based broker-dealer registered with the SEC, FINRA, and SIPC. This move enables Cryptocom to provide US customers with access to stocks and the options market, aligning with its strategy to integrate traditional financial products with its crypto offerings.
Cryptocom CEO Kris Marszalek emphasized that this acquisition marks a significant step in bridging traditional and digital finance in the US market, with plans to offer stocks before the end of the year. The platform's latest updates include the launch of CFTC-regulated UpDown Options and a partnership with PayPal, despite an ongoing legal battle against the US SEC over digital currency oversight.
This acquisition underscores Cryptocom's expansion in the United States and its commitment to diversifying its services, positioning itself to offer a full range of services, including crypto derivatives and now stocks, through its family of companies by the end of the year.
Acquisitions in the crypto industry, such as this, often open new avenues for market entry and expansion. This move echoes similar strategies, as seen when Robinhood acquired Bitstamp to strengthen its presence in the European Union earlier in the year. These acquisitions, backed by extensive regulatory support, serve to bolster the overall businesses of the parent companies.
Notably, this acquisition follows Cryptocom's legal battle with the US SEC, challenging the regulator's reach regarding digital currency oversight. The platform stands among Web3 companies in the US engaged in an active legal battle against the SEC, contributing to the evolving landscape of regulatory oversight in the industry.
Ultimately, Cryptocom's strategic business moves and legal battles are shaping industry dynamics, reflecting a broader trend of transformation within the sector.
More about United States Steel Corporation
United States Steel Corporation produces and sells tubular and flat rolled steel products primarily in North America and Europe. The company is headquartered in Pittsburgh, Pennsylvania.
Industry: Manufacturing
Sub-Industry: Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens)
Market Cap: 8,892,748,000
Current Price: $17.26
Price Change: 0.2
Percentage Change: 2.29%
PE Ratio: 75.31
Dividend Yield: 0.034
Shares Outstanding: 1,685,300,000
Revenue: 16,853,000,000
EPS: $41.87
Net Income: -617 million
EBITDA: -178 million