Prop firm The Funded Trader “TFT” released an update today, outlining recent developments and plans. The company highlighted successful payouts to traders since their April relaunch, totaling $90,000 with payments processed within 24 hours through Rise.
The Funded Trader acknowledged facing “significant financial hurdles” including operational costs and accumulated debt. They reassured users they are working with vendors on payment plans.
The update emphasized a commitment to fulfilling obligations to all traders and affiliates. Future payouts hinge on raising investment or increasing cash flow, with all profits currently allocated to settle outstanding payments.
The Funded Trader made an announcement of a significant shift, transitioning to a non-profit model. They plan to partner with financial institutions to monetize trading data, potentially creating a sustainable revenue stream.
The Funded Trader revealed their operations are moving to the Cayman Islands. The company advised users to expect website and policy updates soon.
Finally, they announced an intriguing “unique challenge” based on performance metrics that offer dynamic withdrawal dates. Details surrounding this challenge remain undefined.
The update concluded with an expression of gratitude towards the “The Funded Trader” community and optimism for a brighter future.
Financial analysts remain cautious, with questions surrounding the long-term viability of the non-profit model and the ability to generate sufficient revenue through data monetization.