eToro aims to raise $500 million at a $4B valuation
Starting our weekly news roundup, eToro is targeting a valuation of up to $4 billion in its initial public offering in the United States, as the platform finally moves ahead with its New York flotation plans.
The IPO price is expected to be between $46 and $50 per share, with eToro aiming to raise up to $500 million. eToro has reportedly started the roadshow for its planned initial public offering.
The company aims to list 10 million Class A common shares, half of which will be offered by eToro. The other half will be sold by existing shareholders.
The Israeli trading platform is targeting a valuation between $3.7 billion and $4 billion in its upcoming IPO. While that’s far below the $10.4 billion valuation it hoped for in its failed 2022 SPAC deal, it’s still above the $3.5 billion figure from its most recent funding round.
Yoni Assia, the eToro CEO, is set to be the biggest individual earner from the IPO. He’s offering 549,635 Class A shares, expected to bring in between $25.3 million and $27.5 million, depending on the final pricing.
Asia’s growing influence in the FX/CFD space
Meanwhile, the Finance Magnates Q1/2025 report revealed a striking statistic: 66.6% of all views on leading FX/CFD websites originated from Asia. This indicates a significant shift in the demographic engaging with online trading platforms.
Most Asian traffic still originates from regions with ambiguous or lax trading regulations. However, this quarter revealed a notable increase in interest from specific parts of Europe, particularly the UK and Poland.
Still with the global market outlook, Spain’s leverage trading market has collapsed to a fraction of its 2021 peak, with the number of active FX/CFD traders falling another 10% to just 35,000 in the 12 months through February, according to a new report from Investment Trends.
While most investors traditionally begin with shares or ETFs, a growing number of traders are entering directly through cryptocurrency and leveraged products, bypassing conventional investment pathways.
Coinbase enters crypto derivatives
In the crypto space, Coinbase agreed to buy Deribit, a major cryptocurrency derivatives exchange. The deal is valued at approximately $2.9 billion.
The deal includes $700 million in cash and 11 million shares of Coinbase Class A common stock. The final amount is subject to standard purchase price adjustments. Pending regulatory approval, the acquisition is expected to close later this year.
Still in the US, the Office of the Comptroller of the Currency (OCC), which regulates national banks, clarified this week that institutions under its oversight can now buy and sell crypto assets on behalf of their customers.
CMC Markets takes over StrikeX
In another significant deal this week, CMC Markets, known for its contracts for differences (CFDs) offering, increased its stake in the blockchain company StrikeX Technologies from 33 percent to a majority of 51 percent.
With this acquisition, the broker now has direct control over StrikeX’s technology and product roadmap. The company also noted that StrikeX is now fully integrated into the CMC Markets group.
More prop firms open CFD brokerage in Saint Lucia
After the regulatory turmoil in the prop trading space involving MetaQuotes witnessed last year, companies are bringing back MetaTrader, by registering in the exotic Caribbean island of Saint Lucia.
Blue Guardian and Maven announced the registration of their own regulated brokers last week. Blue Guardian and Maven announced the registration of their own regulated brokers in the region last week.
MT5 IS BACK! 🔥🚀
We brought Metatrader 5 back with our own license and server.
Now you can enjoy your favorite trading platform at Blue Guardian! 🥳
Get 30% OFF any challenges for next 7 days with code MT5 at https://t.co/3OcR3AQ23W pic.twitter.com/9a0tIdS49Z
— Blue Guardian (@BlueGuardiancom) April 29, 2025
White label solution providers are quick to point out the challenges of building a prop trading platform, but leading firms told FinanceMagnates.com that this approach still comes with limitations in terms of flexibility, cost, and risk management.
Given that he comes from a technology and consulting background, Blueberry Funded managing director, Marcus Fetherston, says he has seen many firms jump into building their own technology to save costs, only to find out that it is far from easy.
My Forex Funds case takes a new turn
The US Commodity Futures Trading Commission (CFTC) placed four lawyers and one investigator on administrative leave due to allegations of misconduct in the fraud case against Traders Global Group Inc., a proprietary trading firm known as My Forex Funds, Bloomberg reported, citing “people familiar with the matter”.
The administrative actions come as Caroline Pham leads the agency as Acting Chair. She took over after US President Donald Trump assumed office for the second time, but Brian Quintenz is set to replace her.
Dubai Vs. Cyprus: regulatory dynamics
On the regulatory front, we assessed how Cyprus could enhance its regulations like Dubai. Cyprus can modernise its fintech rules by adapting Dubai’s proven playbook without breaking EU law or compromising investor protection.
Rolling reviews, real-time data, and risk-based licensing could cut delays and boost innovation in Cyprus without clashing with EU regulations.
Revolut to launch mobile plans in the UK and Germany
Lastly, Revolut’s latest move into telecoms aims to shake up the industry with eSIM-powered plans and no-nonsense pricing starting in the UK and Germany.
@RevolutApp and Octopus are about to Disrupt UK 🇬🇧 Telecom.
Here is how they do it:
What Revolut and Octopus are launching is called a Mobile Virtual Network Operator, or MVNO.
An MVNO is a mobile provider without its own physical network (no cell towers, antennas, etc.).… pic.twitter.com/BN3EzH1XLF
— Marcel van Oost (@oost_marcel) May 4, 2025
As reported by the FT, Revolut, the fintech powerhouse, is venturing beyond banking into the telecom sector. Starting in the UK and Germany, the company plans to offer mobile services that include unlimited domestic calls and data, along with 20GB to 40GB of roaming data across the EU and the US, all without the burden of long-term contracts.
The move makes Revolut the second new entrant to the UK mobile space this week, with Octopus Group exploring a similar launch, according to reports.
eToro aims to raise $500 million at a $4B valuation
Starting our weekly news roundup, eToro is targeting a valuation of up to $4 billion in its initial public offering in the United States, as the platform finally moves ahead with its New York flotation plans.
The IPO price is expected to be between $46 and $50 per share, with eToro aiming to raise up to $500 million. eToro has reportedly started the roadshow for its planned initial public offering.
The company aims to list 10 million Class A common shares, half of which will be offered by eToro. The other half will be sold by existing shareholders.
The Israeli trading platform is targeting a valuation between $3.7 billion and $4 billion in its upcoming IPO. While that’s far below the $10.4 billion valuation it hoped for in its failed 2022 SPAC deal, it’s still above the $3.5 billion figure from its most recent funding round.
Yoni Assia, the eToro CEO, is set to be the biggest individual earner from the IPO. He’s offering 549,635 Class A shares, expected to bring in between $25.3 million and $27.5 million, depending on the final pricing.
Asia’s growing influence in the FX/CFD space
Meanwhile, the Finance Magnates Q1/2025 report revealed a striking statistic: 66.6% of all views on leading FX/CFD websites originated from Asia. This indicates a significant shift in the demographic engaging with online trading platforms.
Most Asian traffic still originates from regions with ambiguous or lax trading regulations. However, this quarter revealed a notable increase in interest from specific parts of Europe, particularly the UK and Poland.
Still with the global market outlook, Spain’s leverage trading market has collapsed to a fraction of its 2021 peak, with the number of active FX/CFD traders falling another 10% to just 35,000 in the 12 months through February, according to a new report from Investment Trends.
While most investors traditionally begin with shares or ETFs, a growing number of traders are entering directly through cryptocurrency and leveraged products, bypassing conventional investment pathways.
Coinbase enters crypto derivatives
In the crypto space, Coinbase agreed to buy Deribit, a major cryptocurrency derivatives exchange. The deal is valued at approximately $2.9 billion.
The deal includes $700 million in cash and 11 million shares of Coinbase Class A common stock. The final amount is subject to standard purchase price adjustments. Pending regulatory approval, the acquisition is expected to close later this year.
Still in the US, the Office of the Comptroller of the Currency (OCC), which regulates national banks, clarified this week that institutions under its oversight can now buy and sell crypto assets on behalf of their customers.
CMC Markets takes over StrikeX
In another significant deal this week, CMC Markets, known for its contracts for differences (CFDs) offering, increased its stake in the blockchain company StrikeX Technologies from 33 percent to a majority of 51 percent.
With this acquisition, the broker now has direct control over StrikeX’s technology and product roadmap. The company also noted that StrikeX is now fully integrated into the CMC Markets group.
More prop firms open CFD brokerage in Saint Lucia
After the regulatory turmoil in the prop trading space involving MetaQuotes witnessed last year, companies are bringing back MetaTrader, by registering in the exotic Caribbean island of Saint Lucia.
Blue Guardian and Maven announced the registration of their own regulated brokers last week. Blue Guardian and Maven announced the registration of their own regulated brokers in the region last week.
MT5 IS BACK! 🔥🚀
We brought Metatrader 5 back with our own license and server.
Now you can enjoy your favorite trading platform at Blue Guardian! 🥳
Get 30% OFF any challenges for next 7 days with code MT5 at https://t.co/3OcR3AQ23W pic.twitter.com/9a0tIdS49Z
— Blue Guardian (@BlueGuardiancom) April 29, 2025
White label solution providers are quick to point out the challenges of building a prop trading platform, but leading firms told FinanceMagnates.com that this approach still comes with limitations in terms of flexibility, cost, and risk management.
Given that he comes from a technology and consulting background, Blueberry Funded managing director, Marcus Fetherston, says he has seen many firms jump into building their own technology to save costs, only to find out that it is far from easy.
My Forex Funds case takes a new turn
The US Commodity Futures Trading Commission (CFTC) placed four lawyers and one investigator on administrative leave due to allegations of misconduct in the fraud case against Traders Global Group Inc., a proprietary trading firm known as My Forex Funds, Bloomberg reported, citing “people familiar with the matter”.
The administrative actions come as Caroline Pham leads the agency as Acting Chair. She took over after US President Donald Trump assumed office for the second time, but Brian Quintenz is set to replace her.
Dubai Vs. Cyprus: regulatory dynamics
On the regulatory front, we assessed how Cyprus could enhance its regulations like Dubai. Cyprus can modernise its fintech rules by adapting Dubai’s proven playbook without breaking EU law or compromising investor protection.
Rolling reviews, real-time data, and risk-based licensing could cut delays and boost innovation in Cyprus without clashing with EU regulations.
Revolut to launch mobile plans in the UK and Germany
Lastly, Revolut’s latest move into telecoms aims to shake up the industry with eSIM-powered plans and no-nonsense pricing starting in the UK and Germany.
@RevolutApp and Octopus are about to Disrupt UK 🇬🇧 Telecom.
Here is how they do it:
What Revolut and Octopus are launching is called a Mobile Virtual Network Operator, or MVNO.
An MVNO is a mobile provider without its own physical network (no cell towers, antennas, etc.).… pic.twitter.com/BN3EzH1XLF
— Marcel van Oost (@oost_marcel) May 4, 2025
As reported by the FT, Revolut, the fintech powerhouse, is venturing beyond banking into the telecom sector. Starting in the UK and Germany, the company plans to offer mobile services that include unlimited domestic calls and data, along with 20GB to 40GB of roaming data across the EU and the US, all without the burden of long-term contracts.
The move makes Revolut the second new entrant to the UK mobile space this week, with Octopus Group exploring a similar launch, according to reports.
