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Ally Invest Vet to Lead eToro’s US Business
The trading platform has seen its commissions from cryptocurrency trading soar in the last year.
By Eli Tan
Updated May 11, 2023, 7:04 p.m. Published Sep 2, 2021, 4:46 p.m.
Multi-asset trading platform eToro has appointed Lule Demmissie to the new role of CEO of its U.S. operations, the U.K.-based company announced on Thursday.
- Demmissie will be responsible for creating a strategic business vision for eToro’s U.S. business, which the company first launched in 2019.
- “The U.S. market is an essential part of eToro’s trajectory and strategic future and Lule’s unique blend of innovation in fintech, brand expertise and operational excellence is an important addition to the eToro leadership team,” said Shalom Berkovitz, eToro Group’s chief financial officer and deputy CEO.
- Demmissie was previously president of Ally Invest, where she oversaw the Ally Invest Securities, Ally Invest Advisors and API business lines.
- Prior to her time at Ally Invest, Demmissie was the managing director of Investment Products & Digital Guidance at TD Ameritrade, where she worked with investment firms J.P. Morgan, Merrill Lynch and Morgan Stanley.
- eToro said its commissions from crypto trading increased nearly 23-fold in the second quarter to $264.2 million from $11.2 million in the same period last year.
- In May, eToro announced it was going public in a merger with FinTech Acquisition Corp. V, giving them an implied equity value of about $10.4 billion.
- The company says it plans to expand its product range with the launch of zero-commission stock trading later this year.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Tom Lee urges BitMine shareholders to approve share increase ahead of January 14 vote
The chairman of the former bitcoin miner-turned-ether treasury firm reiterated his view that Ethereum is the future of finance.
What to know:
- Tom Lee, chairman of Bitmine Immersion (BMNR), urged shareholders to approve an increase in the company's authorized share count from 500 million to 50 billion.
- Lee assured shareholders that the increase is not intended to dilute shares, but instead to enable capital raising, dealmaking, and future share splits.
- Shareholders have until January 14 to vote on the proposal, with the annual meeting scheduled for January 15 in Las Vegas.
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