👀 MyForexFunds makes first statement. Will they return?

Hi guys, it’s Kieran. Another week is upon us and the markets are open, so lets get into it.

📢 Prop Firm Industry News

One of the original big forex prop firms, MyForexFunds, who was shut down by the CFTC, last week posted an announcement on X. There is a lot of information, so if you are interested in all the details, click through the post below, otherwise here is quick summary:

• The court found that the CFTC misled in its filings, dismissed their case, and even ordered them to pay MFF’s legal fees.

• The ruling basically cleared MFF, confirming what they’ve said all along, that they did nothing wrong.

• In Canada, the Ontario court scaled back the receiver’s control and told them to return most of MFF’s assets.

• MFF is now focused on getting those assets back and asks everyone to stay patient and only trust official updates.

Comment from Josh, former MFF ‘Head of Risk and Trading’, (current CEO ATFunded)

Comment from former director of MFF

Lots of buzz about this online. Unfortunately for now, they are “not able to commit to a path forward at the moment”.

At the time they got taken offline, MFF was widely regarded as one of the very best firms, so it would be exciting to see them make a comeback.

From Payout Junction, here are the firms who paid out the most over the last 7 days 🏆️.

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🕜 Red Folder News

Here are this week’s red folder news events. The US government shutdown continues, with US Inflation numbers and Retail Sales again not be released. Add that to NFP from last week, and its going to be quite an exciting day when all these numbers finally get released!

📈 The Macro View

Here we go.

The trendline from the rally post ‘liberation day’ in April has finally broken. Now the game begins..

Fear is back

Markets are finally moving. Biggest level of fear since April....still not extreme yet though.

Crypto just saw its largest liquidation event in history, with 1.6 million traders liquidated.

Over $19 billion worth of leveraged crypto positions were liquidated in 24 hours, 9 times the previous record. (The Kobeissi Letter)

Crypto Fear & Greed

Unsurprisingly the Crypto Fear & Greed index is in ‘extreme fear’. Again, there is still plenty of room to run much lower from here though.

Buy the dip now, or wait for lower prices? S&P500 Futures opened up +2% this morning. All eyes on the news flow as it unfolds. Gonna be an exciting week!

Kieran

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