200,000 in one night on a bar jobs in currency trading, has been arrested on suspicion of unauthorised trading. Mr Hope, who enjoys a high profile media presence, was a client of Peter Cruddas’s brokerage CMC Markets.
Although Mr Cruddas’s company refused to confirm or deny any involvement it is understood Mr Hope had been trading with the company for some time before his arrest. He had appeared in at least one of CMC’s “customer talks” videos that appear on its website. On Wednesday the video had been removed. Mr Hope had enjoyed a ballooning media profile after being photographed with celebrities including Katie Price. 125,000 on a bottle of Champagne.
Reports suggested he was partying with Manchester City footballer Adam Johnson at the Playground Club in Liverpool. At the time his spokesman said he was a naturally generous person. On Wednesday the spokesman declined to comment. In a statement the FSA said: “A 23-year-old man was arrested on suspicion of committing offences under the Financial Services and Markets Act 2000 and the Fraud Act 2006. The arrest was made in conjunction with the City of London Police. No one has been charged in connection with the investigation. Although there is no suggestion CMC is connected with any alleged wrongdoing, the link to Mr Hope will come as a further blow to Mr Cruddas.
A spokesman for CMC declined to comment. 4 5 1 4 1 2 1 . Traders at the New York Stock Exchange last week. The exchange’s parent company is said to be working on an online platform to trade Bitcoin. SAN FRANCISCO — Some of the biggest names on Wall Street are warming up to Bitcoin, a virtual currency that for nearly a decade has been consigned to the unregulated fringes of the financial world. The parent company of the New York Stock Exchange has been working on an online trading platform that would allow large investors to buy and hold Bitcoin, according to emails and documents viewed by The New York Times and four people briefed on the effort who asked to remain anonymous because the plans were still confidential.
The news of the virtual exchange, which has not been reported before, came after Goldman Sachs went public with its intention to open a Bitcoin trading unit — most likely the first of its kind at a Wall Street bank. The moves by Goldman and Intercontinental Exchange, or ICE, the parent company of the New York Stock Exchange, mark a dramatic shift toward the mainstream for a digital token that has been known primarily for its underworld associations and status as a high-risk, speculative investment. The new interest among Wall Street power brokers also represents a surprising new chapter in the renegade history of Bitcoin. So just what is cryptocurrency, and how does it work? Essentially, it’s digital money that’s bought and sold online. It’s not based on another asset like gold. And it doesn’t go through traditional financial institutions like banks.