The regulators are coming for crypto ‘conglomerates’ in the wake of the FTX crash: A fire has been lit under regulators looking to bring some order to the world of crypto by the unraveling of the FTX platform, Jean-Paul Servais, the new head of global securities watchdog IOSCO, told Reuters in an interview. IOSCO plans to publish a report in 1H 2023 on how to apply to crypto the principles it uses to regulate the trading of mainstream assets, Servais said. More scrutiny is needed of what Servais calls “crypto conglomerates” like FTX, which could be prone to conflicts of interest because they offer a range of activities that would be separated in mainstream financial markets, he said. FTX’s meltdown has left some 1 mn creditors with combined losses running into the USD bns.

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	EGX30	12,779	+1.4% (YTD: +7.0%)
	USD (CBE)	Buy 24.50	Sell 24.58
	USD at CIB	Buy 24.52	Sell 24.58
	Interest rates CBE	13.25% deposit	14.25% lending
	Tadawul	10,939	-0.2% (YTD: -3.0%)
	ADX	10,528	-0.1% (YTD: +24.0%)
	DFM	3,305	-0.6% (YTD: +3.4%)
	S&P 500	4,026	-0.0% (YTD: -15.5%)
	FTSE 100	7,487	+0.3% (YTD: +1.4%)
	Euro Stoxx 50	3,962	+0.0% (YTD: -7.8%)
	Brent crude	USD 83.63	-2.0%
	Natural gas (Nymex)	USD 7.02	-3.9%
	Gold	USD 1,768.80	+0.5%
	BTC	USD 16,440	-0.4% (YTD: -64.5%)

THE CLOSING BELL-

The EGX30 rose 1.4% at Thursday’s close on turnover of EGP 1.95 bn (37.5% above the 90-day average). International investors were net sellers. The index is up 7.0% YTD.

In the green: GB Auto (+6.9%), Alexandria Containers and Cargo Handling (+3.9%) and Elsewedy Electric (+3.9%).

In the red: QNB Alahli (-1.8%), Orascom Construction (-1.4%) and EKH Holding – EGP (-1.3%).