‘Secret millions’ of a cryptocurrency trader
An unknown cryptocurrency trader turned $55 million of paper wealth into $283 million in just over a month. The only clue about this person or persons, beyond a virtual wallet with the identification code 0x00A651D43B6e209F5Ada45A35F92EFC0De3A5184, surfaced on a June 11 Instagram posting, in Indonesian, in which he or she (or they) (or somebody posing as them) boasted about the 413 percent profit accumulated earlier this year from ether, the digital money of the Ethereum blockchain. “I get many private messages asking how much ether I have,” the post read, alongside photos that purported to be the hardware powering a mining operation but looked lifted from another website. “One of the […]
Finch founders urge banks to invest in start-ups, not ‘innovation theatre’
DomaCom acquires property via HUB24
DomaCom has completed its first fractional property transaction on investment and superannuation platform HUB24. DomaCom chief executive, Arthur Naoumidis, said: “Increasing our footprint on platforms is validation that our fractional property fund is gaining wider acceptance and a place in portfolio construction that can fit into any structure”. “We’re very pleased to add HUB24 to the list of platforms coming on board with DomaCom and in this case it is GPS Wealth adviser clients who have completed a crowdfunding campaign to acquire two properties in Victoria and Queensland,” he said. DomaCom’s fractional property investment model allows advisers to approach property as a portfolio strategy investing across multiple properties, property types […]
Trump fuels demand for more ethical investing
The unexpected rise of Donald Trump has helped fuel the formation of the “ethical generation,” which is comprised of socially conscious consumers committed to ensuring their investments are sustainable and align with their own world view. In the US calls to boycott Ivanka Trump’s fashion brand saw it dumped from major department stores and after ridesharing service Uber switched on surge pricing to capitalise on the crowds at an anti-Trump protest in New York, a #deleteuber movement kicked off. Last week anti-Adani coal mine protesters prompted the temporary closure of 11 Commonwealth Bank of Australia branches in Newcastle and the boss of the corporate watchdog, Greg Medcraft is on record […]
This Sydney anti-fraud fintech just landed $2 million in a Series A round
Secure payments fintech EFTsure has revealed it has closed a $2 million series A capital raising round, led by Sydney venture capital firm Our Innovation Fund. The startup has developed a platform that allows businesses to cross-check in real-time that the name of the payee matches the BSB and account numbers before the payment is made – a practice that Australian banks do not perform. “Payments fraud is a growing area of cybercrime in Australia, with fast payment methods significantly increasing the risk of fraudulent activity. It’s critical to ensure a focus on both fast and secure payments as the new NPP platform is introduced,” said EFTsure co-founder Ian Mirels, […]
Optimo introduces robo platform
Optimo Financial is releasing its online financial modelling solution for advisers as it aims to make the provision of goals-based advice more seamless. The Optimo Pathfinder personal finance modelling system is now available to dealer groups, financial advisers and paraplanners, using an algorithm developed with a goal orientated approach. In a statement, Optimo said the solution will optimise clients’ financial strategy to best achieve financial and life goals, accounting for tax and superannuation legislation, family tax benefits, the Age Pension and a host of other factors including the client financial status to develop its strategies. Optimo Financial chief executive Hugh Bannister said: “We believe there is a market niche for […]
AMP backed fintech startup Macrovue completes funding round
Macrovue, an investment service backed by AMP, today announced that it has concluded a funding round of approximately $1.25m and has appointed James Goodwin, previously the Joint Managing Director of Arena Investment Management to its Board. Macrovue is an online investment platform that uses in-house research to construct theme-based equity portfolios, giving Australians a unique and easy route to holding domestic and international investments. It’s best performing portfolios of the past year have been “Social Media” and “Luxury Goods”. The oversubscribed funding round included AMP, James Goodwin, Inception Asset Management and other high net-worth investors. Macrovue has experienced rapid growth since being launched in September 2016 with its […]
Bitcoin seen surging to $US50,000 in decade
Ronnie Moas, who for the past 13 years has made more than 900 stock recommendations via his one-man show at Standpoint Research, is now venturing into cryptocurrencies. Bitcoin will double to $US5000 next year, and reach $US25,000 to $US50,000 in the next decade, the Miami Beach, Florida-based Moas said in a note to clients overnight, where he also disclosed he bought “a little bit” of litecoin, bitcoin and ethereum in a Coinbase.com account. It’s a testament to the exuberance around bitcoin, ethereum and other blockchain assets that equity investors who hadn’t been involved in cryptocurrencies are now starting to analyse and make bets on the sector along with established bitcoin […]
