You don’t need to have any previous trading experience to get going. Choose our ready-made strategy that meets your timing and investment goals while minimizing risks with Loss Protection option. The interface is remarkably user friendly.
Founded in 2016 and with offices in Russia, XPO endeavours to deliver innovative solutions to the investment management community at large. These range from spot to derivative trading solutions through index services and technology products. XPO expertise and technological prowess enable us to bring disruptive best-in-class solutions to the financial market.
We have no alternative business interests. This means that we are single-mindedly committed to do well for our investors and for ourselves.
XPO provides a way to track the performance of the forex, CFD & crypto markets as a whole by holding a single index asset. Index funds have consistently beaten the average managed fund since their inception.
There are literally thousands of trading script for investors to choose from. Choice paralysis: choice adds cost, complexity and the need for advice. XPO eliminates this complexity for all kind of investors.
We believe in the power of ideas over a top-down investing approach or philosophy. We seek out and embrace diverse thinking and ideas to create the best outcomes for our clients and their differing needs.
This is why we’re trusted to manage $1.3 trillion of assets*, giving our clients the confidence of working with a partner with size, scale and stability, who takes the utmost pride in their duty of care.
Discover the best performing Crypto Strategies from all XPO Strategists.
Discover the best performing Forex and CFD Strategies from all XPO Strategists.
|Index Name||Index Manager||Top Assets||Weekly
|Future Chain Index
|Deriva Forex Index
Crypto exchange Coinbase attempted to acquire FTX Europe twice since it filed for bankruptcy in November 2022, hoping to broaden its derivatives business overseas. The company, however, has decided not to go forward with the deal, Cointelegraph has learned.
According to a report from Fortune, Coinbase explored acquiring FTX’s European arm on two occasions, in November 2022 — following its parent company’s dramatic debacle — and in September 2023. A spokesperson for Coinbase confirmed the report:
“We’re always evaluating opportunities to strategically expand our business and meet with many teams around the world.”
Along with Coinbase, parties interested in FTX Europe reportedly include exchange Crypto.com and crypto firm Trek Labs. According to Fortune, the sale deadline has been extended to Sept. 24. FTX spent nearly $400 million on the acquisition of its European branch.
FTX Europe operated its derivatives business under a Cyprus regulatory license. By the time of the group’s collapse, it was the only firm to offer some popular derivatives products, such as perpetual futures. Derivatives are financial instruments whose value is derived from an underlying asset, such as Bitcoin BTC $26,551. There are various types of derivatives, including options, futures and swaps. Investors use derivatives for hedging, leverage and to speculate on markets. It’s a popular investment strategy for traders and institutional investors.
The acquisition would potentially boost Coinbase’s fee revenue, as crypto derivatives trading is on the rise, despite the bear market. According to Coinbase’s latest quarterly earnings report, the exchange generated $707 million in revenue in the second quarter of 2023, with $327 million coming from spot trading — a $13% decline from the previous quarter.
Meanwhile, global derivatives volumes traded on centralized exchanges increased 13.7% in June to $2.13 trillion, according to CCData. Binance was the leading venue for derivatives crypto trading in the month, with volume topping $1.21 trillion in June, followed by OKX exchange with $416 billion, up 44.9% in activity. Bitcoin futures volume also spiked on the CME exchange, reaching $37.9 billion, a 28.6% increase in the month.
Coinbase has also moved into derivatives markets in the United States. In August, it obtained regulatory approval to offer investments in crypto futures to eligible customers in the country.
The approval enabled Coinbase to introduce Bitcoin and Ether ETH $1,592 futures contracts through its Commodity Futures Trading Commission-regulated derivatives exchange, FairX. According to Coinbase’s announcement at the time, the global crypto derivatives market represents nearly 75% of crypto trading volume worldwide and is a “critical trader access point.”
Ethereum developers are gathering to salute the teams behind Ganache and Truffle, two toolkits that were once vital in the early days of Ethereum smart contracts.
In a Sept. 22 post, Consensys announced the sunset of the two products amid a broader shift to MetaMask Snaps and SDK.
Georgios Konstantopoulos, chief technology officer and partner at Paradigm, described the announcement as the “end of an era,” sharing that he had written his first-ever smart contract on the Truffle Suite.
Similarly, pseudonymous developer and popular crypto commentator Foobar wrote that Truffle was the first tech stack they used to write smart contracts on Ethereum.
“The toolkit that helped start my career. You have probably contributed more than you know in the space,” wrote another Ethereum developer in response to the announcement.
The Truffle Suite was launched in 2015, and its team and technology were acquired by Consensys in 2020. At the time of the acquisition, Consensys said the Truffle Suite was relied on by 1.3 million developers worldwide.
To ease the transition phase between tech stacks, Consensys explained in a separate blog post that it would be partnering with HardHat to help developers get on with writing and deploying new software on the Ethereum network.
“We are investing in new tools and APIs to empower developers to build powerful DApps with MetaMask, Infura, and Linea, which is why the Truffle engineering team will join these teams to accelerate the buildout of their developer offerings,” wrote Consensys.
According to a Sept. 22 post on X (formerly known as Twitter), the Truffle Suite will be wound down over the course of the next 90 days. After that, the Truffle and Ganache codebases will remain available as public archives, according to Consensys.
In the Ethereum development community, Ganache was a popular tool for creating, evaluating and deploying smart contracts. It was a sought-after tech stack due to its interoperability with the Truffle Suite, a development framework for building, testing and deploying smart contracts on Ethereum.
MetaMask “Snaps” are Consensys’ name for new decentralized applications built by third-party developers that extend the functionality of the MetaMask wallet.
Gold prices ended the week little changed, rebounding from a one-week low, as markets continued their debate on whether the Federal Reserve’s final rate hike for the year would be in November or December.
“Weakening global growth prospects are (also) starting to attract some safe-haven flows towards bullion,” Ed Moya, analyst at online trading platform OANDA, said. “Gold has shown that the $1,900 level was a major line in the sand and now it appears to be poised to consolidate around the $1,950 level.”
Gold’s most-active futures contract on New York’s Comex, December, settled up $6, or 0.3%, at $1945.60 an ounce. For the week, it closed virtually flat, down 0.03%.
The spot price of gold was at $1,925.01 by 15:10 ET (19:10 GMT). Spot gold, determined by real-time trades in physical bullion and more closely followed than futures by some traders, was up $4.90, or 0.3%, on the day. For the week, it rose 0.1%.
“For gold to move back above the $2,000 level, investors will need to see major dollar weakness, which will be driven by evidence that the labor market is breaking,” Moya said.
The Dollar Index hit six-month highs on Friday, limiting buying of dollar-denominated commodities by holders of other currencies. Offsetting some of the dollar’s charge was a decline in U.S. bonds, measured by the 10-year U.S. Treasury note, which hit its highest since 2007 before retreating.
Both yields and the dollar shot up this week after the Fed projected another quarter-percentage point rate increase by the year-end, despite leaving rates unchanged for September itself at a policy meeting on Wednesday.
“We are prepared to raise rates further, if appropriate," Fed Chairman Jerome Powell told a news conference on Wednesday. "The fact that we decided to maintain the policy rate at this meeting doesn't mean we have decided that we have or have not at this time reached that stance of monetary policy that we are seeking."
The Fed had raised interest rates 11 times between February 2022 and July 2023, adding a total of 5.25 percentage points to a prior base rate of just 0.25%. The central bank has forecast that U.S. rates will trend around 5.1% through 2024.
The Fed has two more policy meetings left for this year — in November and December. Markets are trying to guess which month the central bank would pick for what would be its last hike for 2023.
(Reuters) -Oil prices held steady on Friday but closed the week lower on profit-taking and as markets weighed supply concerns stemming from Russia's fuel export ban against demand woes from future rate hikes.
Brent futures settled 3 cents lower at $93.27 a barrel. It fell 0.3% in the week, breaking a three week streak of gains.
U.S. West Texas Intermediate crude (WTI) futures rose 40 cents, or 0.5%, to $90.03 a barrel, as U.S. oil rig counts fell. The benchmark fell 0.03% for the week, the first decline in four weeks.
"Investors are anticipating a slack in demand coming into October as refineries go into maintenance and as a higher interest rate is going to further pressure markets," said Dennis Kissler, senior vice president of trading at BOK Financial, adding that there was also some profit taking.
The contracts have rallied more than 10% in the previous three weeks on concerns about tight supply.
U.S. Federal Reserve officials warned of further rate hikes, even after voting to hold the benchmark federal funds rate steady at a meeting this week.
"Inflation is still too high, and I expect it will likely be appropriate for the (Federal Open Market) Committee to raise rates further and hold them at a restrictive level for some time," Fed Governor Michelle Bowman said.
A potential further rise in energy prices, she noted, was a particular risk she was monitoring.
Higher interest rates increase borrowing costs, which could slow economic growth and reduce oil demand.
Meanwhile, Russia's temporary ban on exports of gasoline and diesel to most countries was expected to tighten supplies.
Russia's Transneft suspended deliveries of diesel to the key Baltic and Black Sea (NYSE:SE) terminals of Primorsk and Novorossiysk on Friday, state media agency Tass said.
The ban will "bring new uncertainty into an already tight global refined product supply picture and the prospect that the impacted countries will be seeking to bid up cargoes from alternative suppliers," RBC said in a note.
Russian wholesale gasoline prices were down nearly 10% and diesel down 7.5% on Friday on the St. Petersburg International Mercantile Exchange.
U.S. oil rig counts, an indicator of future production, also fell by eight to 507 this week, their lowest since February 2022, energy services firm Baker Hughes said.
Refineries in the United States routinely do maintenance in autumn after heavy runs to meet fuel demand from the summer driving season. Offline refinery capacity was expected to reach 1.4 million barrels per day (bpd) this week according to IIR Energy versus 800,000 bpd offline last week.
Money managers raised their net long U.S. crude futures and options positions in the week to Sept. 19, the U.S. Commodity Futures Trading Commission said.
In a recent in-depth interview Peter Schiff, a well-known economist and gold advocate, revealed mounting concerns regarding the stability of the U.S. dollar, saying there’s “going to be a massive crisis,” that will send “the economy into a tailspin.”
The interview, with David Rodriguez, saw Schiff address the growing debt of the U.S. government and its expanding annual deficits, and forecast a troubling future for its fiat currency as a result.
Schiff suggested investors should be escaping the U.S. dollar as there’s “gonna be a deluge before too long where it’s a rush to get out of the dollar.” The U.S. national debt has now ballooned to over $33 trillion, and to Schiff the repercurssions of this are soon going to be manifested as the interest on it becomes the leading government expenditure.
Schiff added that by net year “the interest on the debt is going to be the biggest expense the government has … Eventually, it will be the only expense we have. If this continues, there won’t be any money left over for anything but interest and, obviously, we can’t get to that point.”
It sent a message. ‘Get out of the dollar! Otherwise, you’re in a very vulnerable position because the US could punish you for using the dollar.’
Schiff suggested the dollar could collapse through a snowball effect, as interest rates have “helped prop up the dollar,” and as a result creditors aren’t rushing to drop the fiat currency, but could after its value drops significantly from current levels.
As CryptoGlobe reported, cryptocurrency markets face a seemingly more urgent tremor, as an analytics firm has recently suggested that a potential $3 billion sell-off is looming, rooted in the potential liquidations of FTX’s massive cryptocurrency stack to repay creditors.
If such a crisis does come, some analysts have suggested gold could be a safe haven. Earlier this month Carley Garner, co-founder of brokerage firm DeCarley Trading, said that gold has been holding critical support levels and is now in a position to move into new all-time highs, at a time in which the U.S. dollar is losing momentum.
Gold price is extending the previous decline while heading toward the $1,900 threshold early Wednesday. Gold price has come under renewed selling pressure, as the United States Dollar (USD) is attempting a rebound amid a cautious market environment and higher US Treasury bond yields. All eyes stay focused on the all-important US Consumer Price Index (CPI) inflation data, which will help determine the US Federal Reserve’s (Fed) path forward on interest rates.
Markets remain risk averse on Wednesday, taking cues from a negative close on Wall Street overnight, in the wake of a decline in Apple and Oracle shares. Investors weigh the renewed hawkish expectations surrounding the European Central Bank (ECB) and Bank of Japan (BoJ) alongside the implications on global economic growth and central banks’ outlook amid the ongoing surge in oil prices. Oil prices are trading close to ten-month highs on OPEC+ cuts-led tightening oil markets.
The US Dollar is finding fresh demand as a safe-haven asset due to risk aversion, exerting downward pressure on Gold price. The US Treasury bond yields are reversing the previous drop on expectations that hot US CPI data will prompt the Fed to deliver another interest rate hike in November or December, as the probability of a September Fed pause stands at 93%. Therefore, Gold price remains exposed to downside risks below $1,900.
The US CPI is seen rising 3.6% YoY in August, up from a 3.2% clip reported in July. The annual Core CPI inflation is set to fall to 4.3% in the reported month, compared with a 4.7% increase in July. On a monthly basis, US CPI is likely to rise 0.6% in August while the core figure is expected to hold steady at 0.2%.
On Tuesday, Gold price tumbled after the leaked ECB inflation forecasts ramped up hawkish expectations for the upcoming ECB piolicy meeting and weighed on the non-interest-bearing bright metal. The buying interest around the Euro gathered steam on the ECB report, driving EUR/USD sharply higher at the expense of the US Dollar. The pullback in the US Dollar helped limit losses in Gold price near $1,907.
Heading into the US inflation showdown, the path of least resistance for Gold price remains to the downside after it charted a range breakdown on Tuesday.
Gold price ended its consolidation between the horizontal 21- and 50-Daily Moving Averages (DMA), at $1,917 and $1,932 respectively, after closing the day below the former.
The 14-day Relative Strength Index (RSI) is pointing south below the midline, suggesting that there is more room to the downside.
The next significant support for Gold price awaits at the $1,900 threshold, below which a sharp sell-off toward the static support at $1,885 will be in the offing.
Conversely, the immediate resistance is seen at the 21 DMA of $1,917, above which the 200 DMA hurdle at $1,921 will be retested.
Benzinga - Commodity Futures Trading Commission Commissioner (CFTC) Commissioner Christy Goldsmith Romero has suggested that regulators need to update their protection measures with technological advances. She goes on to add that the inability to do the same is likely to impact the crypto investors.
Amid all the uncertainties surrounding the crypto sector, Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) prices are likely to close Tuesday in the green.
Also Read: SEC Chair Gensler Calls Crypto A 'Field Rife With Fraud, Abuse And Misconduct'
Speaking at the North American Securities Administrators Association’s annual meeting in San Diego, California, Romero said that as regulators make policy decisions on nex-gen technology, it is most important to understand the technology and its impact on the financial sector.
Know more about the latest trends, regulations & AI. Meet and engage with transformative Digital Asset and Crypto business leaders and investors at Benzinga's exclusive event - Future of Digital Assets. Tickets are flying- get yours!
For the CFTC’s Technology Advisory Committee (TAC), Romero has picked technology experts in fintech, responsible artificial intelligence, cryptocurrency, blockchain, and cybersecurity. CFTC experts are being asked to identify ways to install Know Your Customer (KYC) and Anti-Money Laundering (AML) processes into decentralized finance and crypto investment avenues.
As reported by the Coin Telegraph, Romero added, “Tracing funds, tracing crypto, using the blockchain, using link analysis, using social media, and data analytic tools should all be in a regulators’ tool kit.”
Romero also put forward the idea of forming a National Financial Fraud Registry, a centralized record of all crimes and fines related to financial fraud, something she first suggested in December 2019. Such a platform could help investors avoid financial fraud and raise safety levels.
Benzinga - Widely used Web3 wallet MetaMask introduced a new software mechanism called Snaps for expanding usage on other blockchain networks that were originally incompatible with the Ethereum Virtual Machine (EVM).
Snaps will enable MetaMask's use on non-EVM blockchains such as Cosmos, Solana and Starknet, among others.
Also Read: Crypto Wallet MetaMask Activates Sell Feature for Ethereum, Hints More Tokens Additions
Until now, MetaMask was operational on Ethereum (CRYPTO: ETH) and Ethereum-compatible blockchains such as BNB Chain, Polygon, Arbitrum and Optimism.
Learn more about Blockchain networks! Meet and engage with transformative Digital Asset and Crypto business leaders and investors at Benzinga's exclusive event, Future of Digital Assets. Tickets are flying: Get yours!
What is Snap? Snap was developed by Consensys and is a software module that can be blended into the MetaMask wallet for different add-on features; one of them being adaptability with multiple blockchain ecosystems with a specialized code.
MetaMask plans the launch of 34 Snaps with different characteristics that are audited and selected by the team. The wallet company has tied up with more than 150 developers to accelerate the Snaps development work.
The team, as reported by The Block, stated that third-party developers will be allowed to independently ship and maintain Snaps.
MINA Protocol Integration: MINA Protocol will be the first integration into MetaMask Snaps. Mina Foundation, a public benefit corporation serving the Mina Protocol and developer partner SotaTek, disclosed the same. It will be one of the first non-EVM chains through which MetaMask users will be able to manage their MINA assets efficiently.
“By incorporating Mina Protocol, a leading ZK blockchain, as one of the initial non-EVM chains within the MetaMask platform, we mark the beginning of our journey toward fostering interoperability,” said Christian Montoya, senior product manager at MetaMask Snaps, according to Yahoo! Finance.
The U.S. dollar steadied near a six-month peak in early European trade Thursday, boosted by signs of a resilient U.S. economy even as the global outlook weakened.
At 03:00 ET (07:00 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% higher to 104.897, having earlier reached just short of 105, its highest level since mid-March.
Data released Wednesday showed that U.S. service sector activity grew more than expected in August, with a gauge of prices in the sector also rising further.
The readings fueled concerns that inflation will remain sticky in the near-term, eliciting a continued hawkish outlook from the Federal Reserve.
Unemployment data later in the session is expected to show that the U.S. labor market remains healthy, with initial jobless claims expected to rise slightly to 235,000 from 228,000 the prior week.
Also of interest Thursday will be the plethora of Fed officials due to speak later at a fintech conference hosted by the Philly Fed, before they enter the blackout period ahead of their meeting later this month.
Elsewhere, the economic news looks a lot less impressive.
EUR/USD fell 0.1% to 1.0719, near its lowest level since June, after German industrial production fell 0.8% in July compared to the previous month, more than the expected 0.5% drop, underlining the challenges faced by manufacturing in Europe's largest economy.
European Central Bank policymakers were keen to warn investors on Wednesday that the central bank could still hike interest rates again, in what would be its 10th consecutive rise, when they meet next week.
However, with economic activity deteriorating across the region, expectations are rising that the Governing Council will choose to pause, even if it keeps the door open to further moves.
GBP/USD fell 0.1% to 1.2502, not far away from the three-month low seen in the previous session, after data from Halifax, the U.K.’s largest lender, showed that U.K. house prices fell 4.6% on an annual basis in August.
This suggests that prices are falling at the fastest rate since the aftermath of the financial crisis, and things are likely to get worse with Halifax expecting further downward prices on property prices.
USD/CNY rose 0.1% to 7.3254, with the yuan falling to its weakest level since November 2022, after weak economic data from China also dented sentiment towards Asian markets, with both imports and exports in the country continuing to decline through August, albeit at a slower-than-expected rate.
USD/JPY fell 0.1% to 147.50, with the yen near a 10-month low, weighed by two Bank of Japan officials reiterating that the bank is likely to maintain its ultra-dovish policy in the near-term.
XPO will be based on extensive market research of Cryptocurrencies, its compatibility with third-party services wallets, exchanges etc, and performance over the years.
This blog post will discuss the upcoming Ethereum 2.0 upgrade, which is set to take place in 2021. We will cover all of the critical aspects of the upgrade, including what it is, why it's happening, and what benefits . . .Read More
You are saving money by investing sounds like a simple concept. But it would help if you were careful how you apply it. Investing in a mutual fund differs . . .Read More
The XPO Team combines a passion for esports, industry experise & proven record in finance, development, marketing & licensing.
Any question? Reach out to us and we’ll get back to you shortly.