“I Take Care Of My Parents, My Siblings’ Tuition From Trading On Paxful” – Leadership Newspapers

“I Take Care Of My Parents, My Siblings’ Tuition From Trading On Paxful”  Leadership Newspapers
“nigeria startups when:7d” – Google News

Coinbase disables margin trading following guidance from Commodity Futures Trading Commission

Just a few months after launching margin trading on Coinbase Pro, the company is disabling the feature. Margin trading lets you trade on leverage. But it works both ways — margin trading lets you multiply your gains and your losses.

Starting on November 25, 2pm PT, users won’t be able to place new margin trades. Existing margin positions will expire over the coming days and weeks. Once those positions expire, margin trading will be disabled for good.

The company is following guidance from the Commodity Futures Trading Commission. Interestingly, the CFTC was well aware of the company’s plans to launch margin trading.

Coinbase says it has regular conversations with the CFTC and gives them a heads up about upcoming products and services. The same thing happened with margin trading.

Margin trading hasn’t been available on Coinbase’s main website. It has been limited to some Coinbase Pro users with a cap on the number of users who can access the feature.

And yet, Coinbase wouldn’t have launched margin trading if the company could have anticipated a change of course on the regulatory front. More than 100,000 users signed up to the wait list, indicating some interest from Coinbase’s user base.

But the company has no choice but to end margin trading as it tries to be as compliant as possible with current regulation. Let’s see if other exchanges that operate in the U.S. will follow suit.

Startups – TechCrunch

Jeff Bezos-Backed African App Chipper Cash Launching Crypto Trading After Raising $30 Million | News – Bitcoin News

Jeff Bezos-Backed African App Chipper Cash Launching Crypto Trading After Raising $ 30 Million | News  Bitcoin News
“nigeria startups when:7d” – Google News

Digital trading through e-commerce will facilitate inclusion for women and MSMEs – Okonjo-Iweala – Nairametrics

Digital trading through e-commerce will facilitate inclusion for women and MSMEs – Okonjo-Iweala  Nairametrics
“nigeria startups when:7d” – Google News

OptionsLive is the Complete Trading Solution to Empower Options Traders with Data and Analytics

Options traders that reliant on data-driven trades are often forced to combine disparate sources that do not integrate directly with their trading platforms, creating bottlenecks and inefficiencies, especially when the markets are moving fast.  These legacy systems also make it nearly impossible to trade algorithmically. OptionsLive is the fully electronic options trading platform that easily integrates into a traders’ existing workflows. The platform provides traders with real-time information and analytics so they can be certain they are never making trading decisions based on old or stale information. This comprehensive options trading solution is built on OpenFin, the financial markets’ operating system (OS), that’s already found in more than 1,200 desktop applications across 225,000 desktops in over 1,500 buy-side and sell-side firms. AlleyWatch caught up with David Hoffman shares more on how OptionsLive replaces legacy systems, the company’s future plans, and differentiators.
AlleyWatch

Cryptos: Nigerian financial experts talk risks associated with trading digital assets – Nairametrics

Cryptos: Nigerian financial experts talk risks associated with trading digital assets  Nairametrics
“nigeria startups when:7d” – Google News

Alpaca raises $10M Series A for its API-powered equities trading service

This morning Alpaca, a startup that helps other companies add commission-free equities trading to their own products, announced a $ 10 million Series A. The new capital event was led by Portag3, and included prior investors Social Leverage, Spark Capital, Fathom Capital and Abstract Ventures.

The company previously raised a $ 6 million pre-Seed and $ 6 million Seed round that TechCrunch covered last November.

Alpaca is a company that has cropped up in our coverage of the startup and private capital markets recently, adding its perspective to our discussion of API-powered startups and their recent success.

By our math, the new round pushes Alpaca to around $ 22 million in total funding.

It’s done a lot with the pre-existing funds, including driving its transaction volume sharply higher over the last year. As we’ve seen with commission-free broker Robinhood, transaction volume can be robustly lucrative. In a prior interview with Alpaca CEO Yoshi Yokokawa, the startup confirmed that it generates revenues from routing order flow through specific market makers.

So, as Alpaca’s trading volume grows, so too does its revenue. This matters as we have notes on Alpaca’s trading volume in 2020, and how some of those figures compare to its 2019 results. The data helps explain why, and how the startup attracted new capital.

Here’s the startup’s historical trading volume in dollars, generated via customer’ use of its API:

  • January: $ 388.1 million
  • February: $ 591.4 million
  • March: $ 999.0 million
  • April: $ 853.6 million
  • June: $ 1.59 billion
  • July: $ 1.58 billion
  • August: $ 959.3 million
  • September, 2020: ~$ 2 billion

Per the company, that $ 2 billion result in September is up 10x its year-ago performance, implying that revenue at Alpaca has soared in recent quarters. Fast revenue growth, and possible 10x revenue expansion, is investor catnip. The company’s Series A, therefore, is not a surprise event.

What’s next

Off the heels of this growth, Alpaca wants to go after more enterprise customers and double-down on building features into its API so that it can pursue a vision of providing financial services to everyone on the planet, according to Yokokawa. That hope, by the way, is why the company is building infrastructure tech and not consumer-facing tooling. Alpaca wants to sit behind the scenes, the world ’round, powering other players so that it can have maximum reach. (If it powers lots of different companies’ trading tooling, the startup might be able to reach more total end-users than trying to accrete the world’s trading population to a single, first-party service.)

To accomplish its aspirational goal, the startup needs more folks to build more things. Similar to many startups, Alpaca has gone fully remote and is taking its fresh cash to hire around the world. I asked the CEO if he was adding mostly, say, in-market salespeople as Alpaca looks to expand its customer base globally. He responded that most of its distributed hires have been developers, though some have been marketers as well.

After reducing staff to around 10 when COVID-19 arrived, Alpaca is now 35 people strong. Those folks will help Alpaca grow across two vectors, namely geographic expansion and growth into the enterprise, powered by API development. The company’s work on broker-dealer features is part of its international growth plan.

The API-space is hot. The fintech world is on fire. And inside of fintech itself, we’ve seen a savings and investing boom. Alpaca straddles all of three of those worlds. Let’s see how far it can get with $ 10 million more.

 

Startups – TechCrunch

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