Share this article
Australian Regulator Suspends Holon's Crypto Funds Managed by Gemini
All three funds are managed by the crypto exchange Gemini.
By Amitoj Singh
Updated Oct 17, 2022, 3:57 p.m. Published Oct 17, 2022, 8:03 a.m.
Australia's financial services and markets regulator suspended Sydney-based asset manager Holon Investments from offering or distributing three crypto funds to retail investors for 21 days, according to a press release.
- The decision was taken by the Australian Securities and Investment Commission (ASIC) due to non-compliant target market determinations (TMD) by Holon Investments.
- TMD is a document that describes the target customer for an investment product. ASIC said it is concerned that Holon has not appropriately considered the features and risks of the Funds in determining their target markets.
- The regulator believes Holon's crypto funds are not suited to the wide target market defined in their TMDs, which includes investors ranging from potentially medium, high or very high risk and return profile.
- The suspension applies to Holon's bitcoin, ether, and filecoin funds. All three funds are managed by the crypto exchange Gemini.
- "If the ASIC's concerns are not addressed in a timely manner, final stop orders will be placed on the funds," the press release said. "Holon will have an opportunity to make submissions to ASIC before any final stop order is made," it added.
- Holon Investments did not immediately respond to CoinDesk's request for comment.
Read More: Gemini to Serve as Custodian for Filecoin Fund of Australian Equities Manager
STORY CONTINUES BELOW
More For You
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.
More For You
Korbit fined $1.9 million for anti money-laundering, customer verification breaches
The South Korean regulator slapped Korbit with a compliance penalty as the crypto exchange conducts talks to be bought by Mirae Asset.
What to know:
- Korbit, a South Korean crypto exchange, was fined $1.9 million for anti-money laundering and customer verification breaches.
- The Financial Intelligence Unit said it found thousands of violations during an inspection in October 2024.
- Mirae Asset is in talks to acquire a majority stake in Korbit for up to $98 million.
Top Stories
