Banks across the U.S. and Canada continue to face increasing pressure on whether they should modernize their core systems incrementally or pursue full replacement.  It’s a dilemma that carries strategic consequences well beyond IT, because core platforms power everything from daily transaction processing and regulatory compliance to product development and real-time customer service. For context, 10x Banking last year reported that 55% of banking executives believe their legacy core limits competitiveness against digital-first challengers. In another survey by the Canadian Bankers Association, nearly two-thirds of institutions surveyed flagged core modernization as a top-three barrier to innovation, particularly when integrating APIs or launching new digital products. That urgency is also growing. ISO 20022 messaging mandates, real-time payments infrastructure, and Canada’s 2025 open banking rollout are forcing modernization from a back-office initiative to a front-line business imperative. And according to Naresh Babu, VP of Digital Solutions and Architecture of consulting and services firm mobileLIVE, “this is no longer optional. It’s operational survival.” The Problem With Today’s Core Banking Systems Most legacy cores were built before cloud platforms, mobile apps, or real-time data pipelines existed. Many still run on COBOL, a language developed in 1959. A Reuters study estimated 43% of the world’s banking systems run on COBOL, including those accounting for 95% of ATM transactions. At the time of that study, the industry was estimated to be running on 220 billion lines of COBOL, and banks continued to add to it. “COBOL expertise is vanishing,” Babu said. “Banks aren’t maintaining legacy systems because they want to — they’re doing it because they have no choice.” In 2022 alone, financial institutions spent $36.7 billion maintaining legacy cores. That number is expected to reach $57 billion by 2028, with up to 85% of IT budgets consumed just to keep aging infrastructure running, according to Everest Group. The limitations are more than technical. These systems weren’t built for AI, APIs, or compliance automation and they’re getting harder to secure. A 2023 ransomware incident affecting over 60 credit unions spotlighted the fragility of such legacy architectures. “Modernization has to be aligned with business goals, not treated as an isolated IT project,” said Babu. “Strong data governance is critical to drive analytics, AI, and regulatory compliance.” The Two Paths Forward Most banks choose between incremental modernization and full replacement. Incremental upgrades involve layering microservices and APIs on top of existing systems. This approach allows gradual transformation with less disruption and, according to McKinsey, can be implemented in two years at 20–30% the cost of a full core replacement. On the other hand, full replacement migrates all core functions to a modern, cloud-native platform. It supports real-time data, modular product rollout, and native API integration, but requires heavy upfront investment and multi-year implementation. Major institutions have taken both routes. JPMorgan now runs 70% of its data on cloud infrastructure, investing over $2 billion in new data centers. Morgan Stanley’s internal tool, DevGen.AI, has processed nine million lines of legacy code, saving an estimated 280,000 developer hours. EQ Bank became Canada’s first cloud-native bank in 2019, accelerating product delivery and scaling hybrid services. While the price tag is steep, the ROI is clear—and the market reflects that. According to Market.us, the global core banking software market will grow from around $14.47 billion in 2024 to nearly $50.9 billion by 2034, with North America accounting for over 31% of that share. Moreover, cloud deployments now make up about 58% of core systems. API integrations among traditional banks also surged 200% in 2023, according to DataHorizzon Research. Why Modernization Pays Off “Core modernization isn’t just about infrastructure. It’s a revenue enabler,” explained Babu. And his assertion is rooted in a body of evidence. Accenture reports that banks using modern platforms to drive personalization see 40% higher engagement and 30% lower customer attrition. Another report by Salesforce found that 73% of banking customers expect seamless, omnichannel experiences. Modern platforms also deliver hard operational wins. They reduce latency to sub-second speeds, push uptime to 99.99%, and bring transaction costs down to $0.08–$0.15, compared to $0.45–$0.65 on legacy cores. Doing nothing isn’t a neutral choice. It means sticking with brittle, expensive systems that hinder innovation, expose security gaps, and drain IT resources. Best Practices From the Field Banks that get modernization right follow a clear playbook. They define transformation goals upfront, assess systems for modularity, pilot low-risk workloads, evaluate vendors through live POCs, and train engineering teams to operate in cloud-native environments. Governance matters, too. Banks that adopt cross-functional, iterative models can move faster, reduce risk, and ensure compliance is embedded from day one. AI tools like DevGen.AI are helping institutions translate legacy code into modern formats, without halting business operations. Perhaps most importantly, successful banks track outcomes, not just roadmaps — using metrics like time to market, onboarding speed, incident reduction, and developer productivity. The Road Ahead By 2030, analysts expect AI to rewire 44% of bank processes and over half of technology and operations roles. That future won’t be built on COBOL. The choice ahead is clear: modernize incrementally, replace entirely or risk falling behind. “The institutions that act now, with strategic intent and architectural discipline, won’t just survive the next decade. They’ll lead it,” noted Babu.

In 2022, the Basel Committee on Banking Supervision, a global regulatory authority, set criteria for crypto assets, which will go into effect in January 2026. Some of these crypto assets have risk weights of up to 1,250%, which is much higher than the risk weights for traditional investments like corporate bonds.  Also, exposure limits keep banks’ “Group 2” crypto holdings to no more than 1% of their Tier 1 capital. These guidelines are not legally enforceable, but member countries usually follow them.  They affect how international banks deal with digital assets. But trade groups on Wall Street say these standards are too rigid and out of date, which could keep banks from getting involved in the $2.8 trillion crypto sector. Trade Groups Ask for a Break Eight prominent financial trade groups, such as the Global Financial Markets Association and the Institute of International Finance, wrote to the Basel Committee on August 19, 2025, asking for a “temporary pause” on these requirements. They say that the 2022 framework is based on how people saw risk after the FTX and Luna/Terra crashes, not how things are now in the more controlled crypto world.  The groups point out that crypto risk management now aligns more with traditional finance, which makes the high capital requirements unfair. They say that these laws could make the market structure “bifurcated,” which would push crypto outside of the banking system. This could hurt financial stability and client protections. Outdated Risk Perceptions The trade associations say that the Basel standards do not account for the existing level of risk in crypto. For example, Bitcoin and Ethereum have daily trading volumes of $10.6 billion and $6.4 billion, respectively, which is much more than the $192 million average for S&P 500 businesses. However, they are subject to stricter rules.  A crypto expert told Decrypt that the 1,250% risk weight for some crypto assets is too high, especially because data from April 2025 shows that volatility levels should only be about 54%. The groups also talk about how distributed ledger technology has come a long way and say that banks shouldn’t be “unfairly restricted” from using it. What This Means For Banks and Innovation The rigorous Basel rules could make it too expensive for banks to deal with crypto, which could keep them out of an industry that is rising quickly. The trade associations stress that banks’ involvement makes things safer and more sound, and protects consumers. These protections could be lost if crypto is moved to less-regulated businesses.  They also point to new things like JPMorgan’s JPMD digital deposit token on Coinbase’s Base network as proof that banks are getting more involved with cryptocurrencies. The Basel Committee could take a break from the rules to reevaluate them and make sure they fit with how the market works today. The drive by Wall Street to revise Basel crypto regulations is part of a larger trend to bring digital assets into traditional finance. Trade groups are asking for a pause so that banks can get involved in the crypto sector without having to deal with too many rules.  As the business changes, it will be important to find a balance between new ideas and careful oversight to build a stable and inclusive financial system. The Basel Committee’s answer could change the future of crypto in the financial world.

China is considering allowing the use of yuan-backed stablecoins for the first time, in what would be a sharp reversal of its stance on digital assets, as Beijing seeks to expand the currency’s role in global trade, according to a Reuters report. The State Council, China’s cabinet, is set to review a roadmap later this month that could approve stablecoin use as part of broader efforts to boost yuan internationalisation, the sources said. The plan includes usage targets, regulatory responsibilities, and risk-control guidelines. Senior leaders are expected to convene for a study session on stablecoins and yuan adoption before the end of August, one source said. The meeting would outline boundaries for stablecoin development and provide political backing for future regulatory steps. China banned cryptocurrency trading and mining in 2021 over concerns about financial stability, even as it pushed forward with the rollout of the digital yuan. Allowing yuan-linked stablecoins would mark a dramatic change in policy and comes as stablecoins tied to the U.S. dollar gain traction globally. The global stablecoin market is valued at about $247 billion, but Standard Chartered projects it could reach $2 trillion by 2028. The sector is dominated by dollar-backed tokens, which account for over 99% of global supply, according to the Bank for International Settlements. Beijing views stablecoins as a potential tool for promoting the yuan abroad, particularly as Chinese exporters increasingly rely on dollar-pegged stablecoins to settle cross-border trades, the people said. Global Push and Domestic Hurdles China’s share of global payment flows fell to 2.88% in June, its lowest in two years, compared to the dollar’s 47% share, SWIFT data shows. While Beijing has long sought greater use of the yuan, its strict capital controls remain a barrier to deeper international adoption. Elsewhere in Asia, South Korea and Japan are preparing to allow domestic stablecoin offerings, while in the U.S., President Donald Trump has backed dollar-pegged stablecoins and directed regulators to establish a legal framework. China’s plan would assign implementation to regulators including the People’s Bank of China (PBOC), sources said. Hong Kong and Shanghai are expected to play key roles in local rollouts, with Hong Kong’s new stablecoin ordinance already in effect from Aug. 1. A PBOC adviser recently told local media that an offshore yuan stablecoin in Hong Kong was “a possibility.” Shanghai, meanwhile, is setting up an international hub for the digital yuan. Beijing is expected to present the stablecoin roadmap in coming weeks and may raise the issue at the Shanghai Cooperation Organisation (SCO) Summit in Tianjin on Aug. 31–Sep. 1, sources said.

OpenSSL is a strong library that is necessary for doing cryptographic tasks in a wide range of programs, from secure communications to more complex systems like blockchain technology. When developers try to deal with languages like Erlang or frameworks like Elixir’s Phoenix, they often run into crypto issues because files or engine settings are missing.  These problems can stop growth, especially in places where crypto is used for encryption and decoding. In the world of blockchain technology, where crypto security is very important, fixing these kinds of mistakes makes sure that everything runs smoothly. To understand these crypto difficulties, you need to look at common situations, like when libraries don’t load or when engines aren’t set up to work together. For example, a common mistake could be that the crypto module doesn’t load because dynamic libraries are missing. This would cause problems for apps that rely on blockchain technology to verify transactions.  This article goes into detail on how to find and fix these problems, using real-life examples from crypto troubleshooting. Developer can keep their crypto implementations safe by fixing missing files and engine problems. This is very important for the growth of blockchain technology. How to Understand OpenSSL Crypto Errors A common sign of OpenSSL crypto issues is when the system fails to run because it can’t find the necessary components for crypto functions. A common issue is that the crypto library can’t be loaded, which causes Erlang-based setups to show errors about failed NIF (Native Implemented Function) loading. These mistakes don’t happen in a vacuum; they affect larger systems, such as those that use blockchain technology to keep data safe. In crypto, missing files like dynamic shared objects (.so or .dylib) are often to blame. For instance, on macOS, the error can say that the path to libcrypto. 1.0.0.dylib is wrong, which means that the OpenSSL installation is not set up correctly or is out of date.  This can happen when you move your system, such as when you use Migration Assistant on a new MacBook, which messes up file paths that are important for crypto operations. These problems are especially bad for blockchain technology applications that rely on crypto for hashing and signing. There are more problems with OpenSSL because of engine issues. Engines are parts that speed up hardware or offer different ways to run encryption algorithms. Operations fail if an engine isn’t set up correctly or if the necessary files are missing.  Developers who use blockchain technology need to make sure that their OpenSSL setup has the right engines for fast crypto processing. This will help avoid slowdowns in places where performance is important, including consensus mechanisms. Missing Files with OpenSSL Missing files are a primary source of OpenSSL crypto failures, generally tied to installation paths or version mismatches.  On macOS with Homebrew, for example, the crypto library can point to a file that doesn’t exist, like /usr/local/opt/openssl/lib/libcrypto. 1.0.0.dylib. When OpenSSL is updated without rebuilding apps that depend on it, this problem happens, and crypto functionality is affected. People who use blockchain technology, where crypto is used to handle wallets and smart contracts, may experience issues with missing files that cause their programs to fail to compile or crash while they are running. A common case is when Erlang’s encryption module (like version 4.2.2) needs OpenSSL to work. If the shared library can’t be found, the whole crypto stack stops working, which stops things like dependency fetching in Mix tools. To find files that are missing, look in the error logs for specific paths and explanations, like “image not found.” This phase is very important for debugging crypto issues because it makes sure that blockchain technology integrations stay safe and work. Package managers may typically fix these problems by reinstalling OpenSSL, but it’s important to link it appropriately so that they don’t happen again in crypto-dependent applications. Fixing Engine Problems with OpenSSL By sending jobs to specialised hardware or software, OpenSSL engines improve the performance of cryptography. But when configurations are wrong or files are missing, engine problems happen, which makes it hard to load crypto modules. Efficient engines are very important for managing high-volume crypto activities like proof-of-work or proof-of-stake validations in blockchain technology. A common engine problem is when the crypto engine won’t start because it has old or incompatible versions. For example, apps break if the default engine isn’t specified or if bespoke engines for hardware acceleration lack the necessary files. Developers need to make sure that the engine is available by using commands like openssl engine -t, which tests and lists available crypto engines. When using Erlang and OpenSSL, engine misconfigurations can look like missing file problems since the crypto NIF needs engines that are loaded correctly. Blockchain technology platforms often change these engines to make them work better with crypto, so it’s important to make sure they work together. When troubleshooting, you may need to change the OpenSSL configurations, such as modifying openssl.cnf to set engine paths, which can fix crypto bottlenecks. How to Fix Problems on MacOS Step by Step If you’re a macOS user and you’re getting OpenSSL crypto issues, the first thing you need to do is install or reload OpenSSL using Homebrew. To make sure that the paths for the crypto libraries are set up correctly, run brew install openssl and then brew link openssl –force. This step is very important for blockchain technology developers since it gives them back access to important crypto files. You should reinstall Erlang if the issue keeps occurring. To get rid of the old version, use brew uninstall Erlang or ASDF: asdf uninstall Erlang <version>. Then, use asdf install erlang 22.1.8 to install a version that works with it, like 22.1.8. This rebuilds the crypto module using the new version of OpenSSL, correcting any references to missing files. You can test the setup by running mix deps. Get or mix phx—server in your Elixir project. When using blockchain technology, ensure that the cryptographic functions, such as hashing, work properly. If engine difficulties are suspected, configure OpenSSL to utilise the right engine by modifying environment variables or config files, ensuring flawless crypto operations.  How to Use ASDF to Manage Erlang and OpenSSL ASDF is a great way to handle several versions of Erlang, which has a direct effect on OpenSSL crypto integrations. People say they have fixed their problems by removing old versions of Erlang and installing newer ones, such as going from 20.3.8 to 22.0.7. Commands like asdf uninstall erlang 22.0.7 and then asdf install erlang 22.0.7 rebuild the dependencies, which include the crypto library. This method is very helpful in blockchain technology settings, where all crypto tools need to have the same version. ASDF ensures that OpenSSL paths are resolved during installation, which eliminates problems from missing files. When you set up an engine, you can build ASDF-managed Erlang with flags that support certain crypto engines, which speeds things up. Add ASDF to your process so that system updates, like those from brew upgrade, don’t cause crypto conflicts. This proactive management keeps blockchain technology projects stable and makes sure that crypto works as it should. How to Avoid OpenSSL Crypto Errors Run Updates: To avoid OpenSSL crypto issues, you need to keep your development environment up to date. Always install OpenSSL before Erlang to make sure that all the crypto needs are met. To keep installs separate and lower the chance of missing files in blockchain technology settings, use version managers like ASDF. Monitor Changes: Watch for changes to the system, including migrations or updates, that may impact crypto pathways. After updates, test crypto modules regularly to find engine problems early. In blockchain technology, where crypto security is a must, set up automatic checks to make sure OpenSSL is working properly. Create Backups: Make backups of your settings and write down how you set things up so you can recover quickly. Developers can reduce downtime caused by crypto mistakes by following these suggestions. This maintains the necessary strength for modern blockchain technology applications. What OpenSSL Does in Blockchain Technology OpenSSL’s cryptography functions are the basis for blockchain technology. They make transactions safe by using encryption and digital signatures. Crypto failures like the ones discussed here can cause node failures in blockchain technology, which shows how important it is to have trustworthy settings. OpenSSL is used by blockchain technology to include crypto primitives like elliptic curve cryptography. Fixing missing files and engine problems makes sure that blockchain technology platforms run well and support decentralised crypto networks. In the end, learning how to fix OpenSSL problems gives developers more leverage in blockchain technology, since encryption is the basis of trust and security.

In a Monday report, Bloomberg confirmed that asset management firms Point72 and ExodusPoint have both acquired stakes in Alt5 Sigma (NASDAQ: ALTS) , a biotech firm turned crypto payments company. The deal shows Point72 holding a 4% stake valued at $26.7 million, while ExodusPoint holds 4.7% worth $32.1 million. This fresh inflow follows a $1.5 billion deal involving Donald Trump–backed World Liberty Financial, suggesting a broader trend of these institutional investors seeking indirect exposure to crypto, potentially in hopes of major gains. Still, not all the news is positive. Some investors remain on the sidelines amid a Securities and Exchange Commission (SEC) probe. ALT5 in a X post has dismissed the SEC’s case over an alleged insider deal involving World Liberty Financial and Jon Isaac, who was reported to be the company’s CEO. Between Monday, August 18, when the news broke, and now, the market reaction has been sharp, with the token’s price plunging 18.94% to $5.63 at press time. The immediate sell-off signals fading market confidence, likely heightened by the SEC probe and the broader market crash earlier in the week that saw Bitcoin plummet as low as $112,000. Institutional Interest in Crypto Isn’t New Institutional adoption of crypto is not new. However, investors have historically taken more direct routes—unlike Point72 and ExodusPoint—such as exchange-traded funds (ETFs) or building crypto-backed reserves. For context, asset managers such as BlackRock, Grayscale, and Fidelity already maintain significant exposure through ETFs, particularly those tied to Bitcoin and Ethereum. At the time of writing, Bitcoin assets under management stand at $146.18 billion, while Ethereum’s figure is $25.93 billion. In reserves, Bitcoin totals $167 billion held by 110 entities, compared to $11 billion in Ethereum holdings.

Elon Musk, a tech entrepreneur, has put his plans to start the “America Party” on hold. He announced the political party in July 2025 after having a public fight with President Donald Trump. The Wall Street Journal says that Musk is focusing his emphasis on his enterprises, such as Tesla and SpaceX, while still keeping a strategic relationship with Vice President JD Vance.  Musk’s first idea was to form a third party to challenge the two-party system in the U.S., which he called a “uniparty” that doesn’t represent most Americans.  Musk decided not to go through with the America Party because he was worried that it could split the Republican vote, which could hurt the party’s chances in the 2026 midterm elections and make his relationship with Vance, a possible Republican presidential candidate in 2028, tense.  Reports say that Musk has been in touch with Vance and even suggested that he would help him run for president in 2028. This change comes after Musk spent a lot of money on politics in 2024, giving around $300 million to assist Trump and other Republicans, including running the Department of Government Efficiency (DOGE). Where The Idea For The America Party Came From The idea for the America Party came about after Musk’s fight with Trump over the “One Big Beautiful Bill Act,” a spending bill that would add $3.3 trillion to the U.S. national debt over the next ten years. Musk, who had been a prominent player in Trump’s cabinet, quit his job as DOGE in May 2025.  He called the plan “insane” and said it would make it harder for him to cut federal spending. Musk asked his 200 million X followers on July 4, 2025, and 65% of them said they wanted a new party to be formed. The next day, he said he was starting the America Party and promised to focus on winning important congressional seats to influence key legislation. The party was meant to be a centrist, pro-Bitcoin group that pushed for deregulation, free expression, and the use of AI to modernise the military. But it hasn’t registered with the Federal Election Commission or set up an official platform yet, which makes some wonder if it will work. Problems and How The Market Reacts It is very hard to start a third party in the U.S. because of complicated state regulations for getting on the ballot and the two-party system that has been in place for a long time. Political observers were sceptical about Musk’s ideas since they said that third parties rarely win without a lot of support from the ground up.  Tesla investors were also worried as the company’s stock fell 18% in 2025 after Musk’s political comments, which showed that people were afraid that his political focus would take away from his business interests. Musk’s Reaction and Future Outlook Musk said on X that The Wall Street Journal’s report was not real. “Nothing [The Journal] says should ever be thought of as true,” he said. Even still, insiders say he has stopped reaching out to political allies and cancelled meetings with third-party organisers. Musk hasn’t completely ruled out bringing back the America Party. Still, he’s more focused on building his relationship with Vance and keeping his businesses stable during tough economic times. Musk still has a lot of political power as the 2026 midterms approach, but the America Party’s launch looks less likely. His possible support for Vance in 2028 could change how Republicans work together, but for now, the billionaire’s political experiment seems to be on pause.

Nuvei has announced a strategic integration with Zuora to strengthen support for enterprise recurring revenue models at global scale. The integration combines Zuora’s monetization platform with Nuvei’s global acquiring capabilities, local payment method coverage, and transaction optimization. The partnership is designed to streamline recurring payments for international enterprises by improving authorization rates, simplifying reconciliation, and enabling expansion into new markets without the need for multiple payment service provider relationships. “Enterprise merchants are doubling down on recurring revenue models” Phil Fayer, Chair and CEO of Nuvei, commented, “Enterprise merchants are doubling down on recurring revenue models, and payments are a critical part of delivering seamless, localized experiences at scale. This integration with Zuora reflects our ability to support complex, high volume businesses with agile, modular payment solutions, particularly in growth markets like Latin America, where consumer demand for subscription services is accelerating.” Daniel Enekes, VP of Strategic Partnerships and M&A at Zuora, said, “This partnership marks a significant step in scaling the global reach of Zuora’s monetization platform. As more enterprises adopt recurring revenue models, especially in high-growth markets, our integration with Nuvei empowers them to scale subscription, usage-based, and hybrid offerings with the agility, compliance, and local payment sophistication needed to succeed worldwide.” The announcement comes as the subscription economy is projected to grow from $593 billion in 2024 to $996 billion by 2028, according to industry data. Companies in Zuora’s Subscription Economy Index grew revenue 11 percent faster than the S&P 500 over the past two years. Nuvei said the partnership builds on its expanding enterprise capabilities, including platform integrations, merchant-of-record services, and direct local acquiring in more than 50 markets worldwide. Nuvei expanded money movement services Nuvei recently expanded its money movement services to enable faster and lower-cost payouts to bank accounts globally, including in markets where traditional payment infrastructure can be slow or costly. The company said the new approach uses stablecoin rails to transfer value on the backend, reducing reliance on intermediaries and improving settlement times in underserved regions. Nuvei said businesses can now fund virtual bank accounts using local rails, bypassing SWIFT transfers, with cross-border value transfer completed via blockchain technology. Settlement can occur on the same day or next day, and local financial institutions in the destination country connect to domestic networks to deliver payouts in fiat currency. The company said the expanded payout capabilities support intra-company transfers, third-party payouts to single recipients such as vendor payments, and multi-party payouts for use cases like global payroll, marketplace seller disbursements, and remittance programs. Nuvei said the system also uses multiple foreign exchange providers to obtain competitive rates and manage currency volatility. The service integrates into Nuvei’s global platform, which supports more than 200 markets with local settlement in 150 currencies, alongside existing payout methods including bank transfers, real-time payment networks, eWallets, and card networks. Nuvei entered Japan Nuvei also announced its entry into the Japanese market following its acquisition of Paywiser Japan Limited, which includes an acquiring license granted by Japan’s Ministry of Economy, Trade, and Industry, enabling Nuvei to offer direct acquiring capabilities in the country across major card schemes and alternative payment methods (APMs). The firm’s headquarters in Tokyo will complement its existing offices in China, Hong Kong, Australia, and Singapore. Over 200 payment experts will be located across the Asia-Pacific region. Japan’s eCommerce market represents significant growth opportunities, as the fourth-largest globally and the second-largest in the APAC region. The market is expected to grow at a compound annual growth rate of 11.6% from 2024 to 2032, with its total size projected to increase from USD 230 billion to more than USD 650 billion over the same period. By 2026, the volume of online buyers in Japan is forecast to exceed 100 million people, accounting for 83% of the population. eCommerce transactions are expected to make up 22% of all commerce by 2028. The acquisition enables Nuvei’s international clients to enter the Japanese market seamlessly through a single integration with Nuvei’s core platform. This entry facilitates cross-border business expansion and offers local Japanese businesses the ability to scale operations with agile payment solutions. Nuvei’s portfolio of payment technologies includes modular capabilities that support diverse business models and transaction types. Nuvei obtained MPI license from Singapore MAS Last year, Nuvei secured a Major Payment Institution (MPI) license from the Monetary Authority of Singapore. The regulatory milestone will enable the payments company to significantly expand across the APAC region and offer domestic and cross-border money transfers, along with merchant acquisition services in Singapore. Nuvei’s platform is tailored to reduce operating costs for businesses, improve conversion rates, ensure payment solution consolidation, maximize payment acceptance, and minimize risk while improving customer payment experiences. Beyond Singapore, Nuvei has been enhancing its presence across the Asia-Pacific, including launching direct card-acquiring capabilities in Australia and growing its operations in China. Nuvei supports 680 alternative payment methods and provides acquiring options in more than 50 markets.

A federal judge in Manhattan has ordered Eddy Alexandre, founder of the collapsed crypto platform EminiFX, to pay more than $228 million in restitution after ruling the company operated as a Ponzi scheme that defrauded tens of thousands of investors. The ruling, handed down by U.S. District Judge Valerie Caproni, also requires Alexandre to pay $15 million in disgorgement, according to a Tuesday court filing. The decision followed a summary judgment secured by the U.S. Commodity Futures Trading Commission (CFTC) against Alexandre and EminiFX. “Defendants Alexandre and EminiFX are jointly and severally liable to pay restitution in the total amount of $228,576,962,” the order stated. A $262 Million Fraud Disguised as Robo-Trading EminiFX, launched in 2021, raised more than $262 million from over 25,000 investors in just eight months by promoting weekly returns of 5% to nearly 10%. The platform claimed its “Robo-Advisor Assisted Account” used automated crypto and forex trading strategies. In reality, investigators found the firm suffered net losses of at least $49 million and never used the trading technology it advertised. Alexandre siphoned off $15 million for personal expenses, including luxury cars, credit card bills, and cash withdrawals. Early investors were repaid with funds from new participants, a hallmark of a Ponzi scheme. The case dates back to May 2022, when prosecutors and the CFTC filed parallel actions. In a criminal proceeding, Alexandre pleaded guilty to commodities fraud and in 2023 received a nine-year prison sentence along with a $213 million restitution order. The latest civil ruling adds a parallel restitution and disgorgement mandate, though any repayments will offset his disgorgement obligation. A court-appointed receiver has overseen asset recovery and distribution since 2022. A payout plan was approved in January, and victims began receiving funds earlier this year. The case adds to a broader trend of enforcement actions against crypto fraud in the U.S. Losses from hacks, scams, and exploits totaled $2.47 billion in the first half of 2025, according to blockchain security firm CertiK. While incidents fell in the second quarter, total losses this year are already higher than in 2024.

On August 19, 2025, Cathie Wood’s ARK Invest made a big move by buying $21.2 million worth of Bullish shares and $16.2 million worth of Robinhood shares, even though crypto-related equities were selling off across the board. Trade alerts say that the ARK Innovation ETF (ARKK) bought 356,346 shares of Bullish, a company that runs a crypto exchange, and 150,908 shares of Robinhood Markets, a crypto trading platform.  This purchase fits with ARK’s plan to double down on digital asset companies when the market is down, viewing declines as opportunities for investment. The crypto market saw strong pressure on August 20, 2025, with Bullish shares decreasing 6.09% to close at $59.51 and Robinhood declining 6.54% to $107.50.  Other stocks that are linked to cryptocurrencies, such as Coinbase (-5.82%), Galaxy Digital (-10.06%), and Circle (-4.49%), also dropped, showing that the market is nervous. The Nasdaq Composite dropped 1.46%, which shows that investors are being careful as hopes for rate cuts fade. Even though these prices have gone down, ARK’s purchases show that it believes in the long-term potential of investments tied to cryptocurrencies. Building on Bullish’s Successful IPO This new investment comes after ARK spent a lot of money on 2.53 million Bullish shares across three ETFs on the crypto exchange’s New York Stock Exchange debut on August 14, 2025. Bullish’s initial public offering (IPO) garnered $1.1 billion by selling 30 million shares at $37 apiece.  On its first day of trading, the stock price went up 83.8%, reaching a high of $118 before settling at $68. With its newest purchase, ARK now owns more than 1.16 million shares of Bullish, which are worth about $73.85 million. This shows that ARK is serious about the crypto exchange. Bullish is based in the Cayman Islands and runs a cryptocurrency exchange. It also owns CoinDesk, which makes it a major participant in the digital asset industry. ARK keeps putting money into Bullish because it thinks the company has significant room for growth, especially as the crypto market matures and attracts more interest from big companies. Robinhood’s Crypto Appeal is Growing ARK has bought shares of Robinhood for the third consecutive time, spending $14 million on August 18 and $9 million on August 16. In Q2 2025, Robinhood‘s crypto trading volume rose 32% year over year to $28 billion, and its crypto-related revenue almost doubled to $160 million.  As of August 18, the stock has gained 208.7% this year, which shows how popular it is with investors who think fintech and cryptocurrencies will meet. ARK’s constant buying frenzy shows that they trust Robinhood as a platform for trading crypto that is easy for regular people to use. Getting Through Market and Regulatory Problems The U.S. Securities and Exchange Commission (SEC) is signalling a trend towards expanded retail access to alternative assets, including cryptocurrencies, as indicated in a recent executive order. This is when ARK is making its investments. Paul Atkins, the chair of the SEC, stressed the importance of “proper guardrails” to keep investors safe from the risks of private assets that aren’t liquid.  ARK’s plan to buy during declines fits with its history of making big bets in volatile markets. However, it also shows how risky it is to use too much leverage in stocks that are exposed to cryptocurrencies when things are uncertain. Ark’s Vision For The Long Term Cathie Wood’s unshakeable optimism about the future of the cryptocurrency sector is shown in ARK Invest’s most recent purchases, even if the market is volatile. ARK is getting ready to take advantage of the growing demand for digital assets by boosting its interests in Bullish and Robinhood.  But investors should still be careful because private assets come with significant risks, such as the inability to sell them quickly and the possibility of spreading problems in the financial markets. As the crypto market changes, ARK’s strategic investments might lead to big profits or make the market more volatile.

United Fintech has announced that Rupsa Mukherjee joined the company as Head of Mergers & Acquisitions. Mukherjee built her career across corporate finance and investment banking in the UK, US, and India over the past 13 years. She worked at Goldman Sachs and Caterpillar before moving to Deutsche Bank, where she served as Vice President in investment banking in London and New York. At Deutsche Bank, she advised on transactions exceeding $20 billion. She is a Chartered Accountant and earned an MBA from The Wharton School. In her new role, Mukherjee will work with Founder and CEO Christian Frahm and the wider leadership team on sourcing and executing acquisitions. She will lead deal origination, structuring, and integration of fintech companies into United Fintech’s ecosystem. “The right combination of M&A discipline and fintech fluency” Christian Frahm, Founder and CEO of United Fintech, commented, “Rupsa brings the right combination of M&A discipline and fintech fluency. Her ability to originate, structure, and integrate strategic acquisitions will be instrumental in unlocking new opportunities across our ecosystem.” United Fintech has been active in acquisitions since its founding in 2020. Its portfolio includes Athena, CobaltFX, FairXchange, Netdania, TTMzero, and CBA. The firm positions itself as a neutral platform for banks, asset managers, and trading institutions to modernize technology systems through a single vendor relationship. Rupsa Mukherjee commented, “I’m thrilled to join United Fintech at such a pivotal moment. The opportunity to help scale a platform that is reshaping the financial services technology landscape is incredibly exciting. I look forward to working with founders, investors, and banks to build lasting value through strategic growth.” Her appointment follows a series of senior hires this year, including Deepak Nair as Chief Operating Officer and Anders Johansen as Chief People Officer, as United Fintech strengthens its global leadership team. United Fintech is backed by strategic investors including BNP Paribas, Citi, Danske Bank, and Standard Chartered. The firm continues to pursue acquisitions that expand its portfolio of capital markets and banking technology providers, supporting financial institutions in digital transformation. United Fintech appointed Deepak Nair as Chief Operating Officer United Fintech recently appointed Deepak Nair as Chief Operating Officer. He joined the Executive Leadership Team and will oversee the company’s operational strategy across its global fintech platform. Nair previously held senior roles at Virgin Media O2, McKinsey & Company, UBS, JPMorgan, Goldman Sachs, and Accenture. His work has centered on transformation efforts, cost reduction, and operating model redesign in financial services and technology sectors. At Virgin Media O2, Nair led restructuring and transformation projects for over 15,000 employees. His work included building a data-driven transformation office and overhauling enterprise-level operations. During his time at McKinsey, he delivered cost synergy programs valued at up to £1 billion for portfolio companies. His earlier experience included work in risk management, operational strategy, and digital transformation. At United Fintech, Nair will be based in London and report to CEO Christian Frahm. He will lead efforts to improve efficiency and support expansion plans through data-led execution. His appointment follows the recent addition of Anders Peter Kierbye Johansen as Chief People Officer, announced in April. Johansen also serves on the Executive Leadership Team. Founded in 2020, United Fintech acquires and integrates fintech companies into a single platform. The firm focuses on simplifying procurement and giving institutions streamlined access to technology products. It is backed by investors including BNP Paribas, Citi, Danske Bank, and Standard Chartered.

BitMEX announced the rollout of its new Copy Trading feature, allowing users to automatically replicate the trades of experienced professionals on the platform. Alongside this, the exchange introduced Reverse Copy Trading, a tool that enables traders to take the opposite position of a selected Copy Leader for strategic hedging or contrarian strategies. The features are designed to address challenges faced by traders who lack time or expertise to monitor fast-moving derivatives markets. Users can select top traders through the Copy Trading Marketplace, allocate capital, and have trades mirrored automatically. They can also set individual risk parameters such as Stop Loss and Take Profit levels to retain control over their portfolios. “BitMEX has been home to some of the oldest and most proficient traders in the crypto space” Stephan Lutz, CEO of BitMEX, commented, “Since 2014, BitMEX has been home to some of the oldest and most proficient traders in the crypto space. With Copy Trading, we are democratising access to their expertise, allowing our users to mirror their success. This feature simplifies the trading process, removes the burden of constant market monitoring, and provides a unique opportunity for our community to engage with the crypto derivatives market more effectively.” BitMEX highlighted several benefits of its new offering. Copiers can diversify by following up to five Copy Leaders simultaneously, while Copy Leaders can earn up to 50 percent profit share from their Copiers. Reverse Copy Trading further expands flexibility by enabling users to hedge or take contrarian positions based on market outlook. Founded in 2014, BitMEX is a crypto derivatives exchange known for low latency execution and deep liquidity. The platform has maintained a record of no cryptocurrency lost to hacks and continues to publish on-chain Proof of Reserves and Proof of Liabilities data twice weekly. The exchange said the launch of Copy Trading reinforces its commitment to making sophisticated trading strategies accessible to both beginners and experienced market participants. TradingView and BitMEX now in partnership TradingView recently rolled out two major updates that significantly broaden the platform’s reach across traditional finance and crypto markets. Users can now trade crypto derivatives via BitMEX without leaving their charts, giving users access to over 200 cryptocurrency derivatives products. Known for its reliability and deep liquidity, BitMEX offers perpetual swaps, pre-launch futures, and even prediction markets — all now available for live execution within the TradingView charting interface. BitMEX has maintained a strong operational security record since its inception, incorporating Multi-party Computation (MPC) technology and cross-verification of balances with on-chain data. In 2021, it became one of the first exchanges to publish Proof of Reserves, enhancing transparency for users. Its $3 billion insurance fund further protects against liquidation risks. To trade with BitMEX on TradingView, users can simply open the trading panel, select the BitMEX icon, and log in to their account. This integration enhances TradingView’s multi-asset coverage, bridging traditional markets with the evolving digital asset space.

In the fast-paced world of cryptocurrency investments, it’s important to know crucial indicators so you can make smart choices. Market capitalization (market cap) and Fully Diluted Valuation (FDV) are two of the most talked-about numbers. Both give you an idea of how much a project is worth, but they show quite different things about a cryptocurrency’s current state and future potential.  Many crypto investors only look at market size and overlook what FDV means for the bigger picture. This can lead to bad tactics and losses that they didn’t see coming. This essay goes into further detail about these measures, pointing out their distinctions, importance, and the mistakes that people often make in the crypto field. What is Market Capitalization in Cryptocurrency? Market capitalization, or market cap for short, is an important number in the world of cryptocurrencies. At the current market price, it shows how much all the tokens of a certain cryptocurrency are worth. It’s easy to understand the formula: Market Cap = Current Token Price × Circulating Supply. A lot of people use this statistic since it shows how big and liquid a cryptocurrency is in the market. For example, websites that keep track of crypto assets rank projects by market cap, which helps investors determine their popularity and short-term demand. A large market cap frequently means that investors have a lot of faith in the project and that it has a proven track record. This is because it shows how many tokens are being traded and held by users. But crypto investors sometimes forget that market cap only counts tokens that are already in use. It doesn’t take into account potential supply increases, which can lower the value over time. In the unpredictable world of cryptocurrencies, depending only on market value can give you a false feeling of security, especially for newer projects where a lot of the supply is still locked up or hasn’t been issued yet. Understanding Fully Diluted Valuation (FDV) in Crypto On the other hand, fully diluted valuation (FDV) gives a more complete picture by estimating the total worth of a cryptocurrency if all available tokens were issued and in circulation. The math is similar but bigger: FDV = The current price of a token times the maximum number of tokens that can be issued. FDV is quite helpful in the area of cryptocurrencies for identifying long-term risks like inflation from token emissions or unlocks. It assumes that the whole supply is out in the open, which gives it a hypothetical maximum value. This indicator shows possible dilution, which means that if more tokens enter the market and demand doesn’t keep up, the value of each token could go down. Many cryptocurrency enthusiasts don’t value FDV as much as they should because it’s not as easy to see as market cap. But in the world of cryptocurrencies, neglecting FDV can mean overlooking warning signs in tokenomics, which is the economic design of a cryptocurrency project. A project with a low market value but a very high FDV can look like a good deal, but it could mean that vested tokens will put a lot of pressure on the market to sell in the future. Main Differences Between FDV and Market Cap To understand what crypto investors miss, it’s important to look at these numbers next to each other. Market cap looks at the present and only uses the circulating supply to figure the value. Current trade activity, burns (the permanent loss of tokens), and price changes all affect it. In contrast, FDV looks ahead, using the maximum supply to anticipate possible valuation, and it’s affected by schedules for token releases, vesting periods, and ongoing emissions. Aspect Market Cap Fully Diluted Valuation (FDV) Basis Circulating supple Maximum total supply Time Focus Current snapshot Future projection Primary Insight Liquidity and short-term sentiment Dilution risk and long-term inflation Influencing Factors Price changes, token burns Unlocks, vesting, emissions Ideal Use Case Ranking established cryptocurrencies Evaluating early-stage crypto projects This table makes the difference clear: This difference shows why it’s important to combine both metrics when analysing cryptocurrencies. People who invest in crypto and only care about market cap can go after “undervalued” assets without realizing that the FDV gap could eat away at their profits as additional tokens come into the market. Real World Examples There is a cryptocurrency called Token Y that costs $1.50. The market valuation would be $150 million (1.50 × 100 million) if there were 100 million tokens in circulation and 1 billion tokens in total. The FDV, on the other hand, goes up to $1.5 billion (1.50 × 1B). This tenfold difference is a warning of possible dilution: nine times the existing supply might enter circulation, which would put pressure on the price to go down if adoption doesn’t go up. In another case, think of a cryptocurrency that is already well-established and has a lot of users. The market cap is $640 million, the FDV is $800 million, and the price is $0.80. There are 800 million tokens in circulation out of a maximum of 1 billion. The ratio here is low (1.25), which means there is little possibility of dilution. This makes it a better choice for solid crypto investments. These examples show what many people in the crypto world don’t see: A big difference between the market cap and FDV frequently means that tokens are being released quickly, which might cause prices to change. Cryptocurrency projects that give teams or early backers a stake in the project seem like a good idea at first, but after the stake is unlocked, people may sell, which lowers rewards. Why Crypto Investors Don’t Always Think About FDV Risks Many crypto investors fall for traps because they are drawn to low market capitalization. A cryptocurrency with a tiny market size may seem like it’s worth less than big ones in the field, which can lead to enthusiasm and FOMO (fear of missing out). But this doesn’t take into account FDV’s role in showing hidden supply overhangs. For example, if a project’s FDV increases significantly, it means that inflation is likely to happen in the future, which might cut the value of the token in half or worse. Another thing that people don’t think about is the selling pressure that comes from dilution. When locked tokens vest, they generally go to founders, advisors, or staking rewards. This increases the supply without a corresponding increase in demand. This can make prices drop in the Bitcoin market, especially during bear markets when people are feeling down. Timing is also very important, although people often forget about it. Crypto investors could buy or sell without checking emission calendars, which means they miss out on big unlocks that happen when the market is going down. They don’t take FDV into account, hence their plans don’t match up with these events, which leads to less-than-ideal results. Real-Life Examples for Every Metric in Cryptocurrency Investing Market cap works best in several situations in the crypto ecosystem. When comparing well-known cryptocurrencies where most of the supply is already in circulation, use it since it accurately shows liquidity and trader interest. It’s also great for short-term trading, when decisions are based on current sentiment. On the other hand, FDV is very important for crypto projects that are just starting or are growing quickly. It helps figure out the risks of tokenomics and makes sure that the project’s fundamentals, such as its user base, revenue model, and utility, back up the expected value. If investors don’t pay attention to FDV, they can invest in hyped launches only to see their values drop after the unlock. Combining both? Find the ratio of FDV to market cap. A ratio of less than 2 means there is little chance of dilution, while a ratio of more than 5 means you should be careful. This mixed approach stops people from making mistakes that are prevalent in Bitcoin holdings. How to Avoid Common Mistakes When Valuing Cryptocurrencies Here are some common mistakes to avoid when you are evaluating cryptocurrencies; Always check both market cap and FDV to get a better idea of the cryptocurrency environment. Check out whitepapers or dashboards for information on token releases; programs that keep track of unlocks can be quite helpful. Don’t buy something just because of the hype; make sure the FDV matches the project’s roadmap.  Look at the cryptocurrency’s FDV compared to its peers. Is it realistic, given its usefulness and community? Consider bigger things like changes in the law or trends in the industry that could make diluting effects worse. Crypto investors can make strong plans by not ignoring these things. Empowering People To Make Better Choices In The Crypto Space In short, market cap gives you a real-time glimpse at how a cryptocurrency is doing. At the same time, FDV shows you the whole picture, including things that many crypto investors don’t think about, such as future dilution and sustainability.  Using both measurements helps you gain a deeper understanding and lowers risks in this fast-paced field. As the Bitcoin market changes, being aware of these prices will help smart investors avoid being caught off guard. Remember that making smart choices in crypto isn’t only about finding chances; it’s also about being ready for problems that aren’t obvious. 

Bullish sentiment has started to return for Chainlink’s native token, LINK, following news of institutional adoption of its proprietary technology. In the past 24 hours, LINK recorded a modest gain of 2.2%, while its monthly price change stands at 140%. Users are actively exchanging hands at $25, a clear indication of the news’ impact. The recent development came as Bitget, a global cryptocurrency exchange, integrated Chainlink’s Proof of Reserve (PoR) mechanism to track its wrapped Bitcoin (BGBTC) on the Ethereum blockchain through a decentralized oracle network. This integration now makes on-chain verification easier and eliminates the need for manual processes. Speaking on the partnership, Bitget CEO Gracy Chen emphasized the need for transparency in the industry, stating: “By adopting Chainlink’s industry-leading Proof of Reserve, we’re giving our users and institutional partners the assurance they deserve, knowing that BGBTC is always verifiably backed. This is another step in our mission to deliver secure, transparent, and innovative products for the Web3 space.” Chainlink has steadily expanded its institutional footprint. In July, the company announced a partnership with Swift that enabled several banks to integrate with public and private blockchains for seamless cross-chain settlement. Earlier today, it also revealed that LendFi, a member of its Chainlink BUILD program, had adopted its Cross-Chain Token (CCT) standard to enable interoperability of its native token RWAL across Binance Smart Chain (BNB), Avalanche (AVAX), and Ethereum (ETH). Market Action On Chainlink The market’s response has been mixed. At press time, LINK’s annualized fee revenue had risen to $4.15 million, signaling stronger network activity. Exchange data, however, shows a divergence between perpetual and spot traders, according to CoinGlass. Perpetual investors leaned bullish, funding the market with $61.38 million and pushing open interest to $1.65 billion. While open interest alone does not reveal direction of price, the weighted funding rate offered clarity with a reading of 0.0077% in favor of bulls. A positive funding rate typically signals bullish momentum, raising the probability of a rally for LINK. In contrast, the spot market turned bearish. Over the past day, investors sold $14.63 million worth of LINK, following the $27.94 million sell-off that started the week. Heavy spot selling often reflects weak investor confidence and can put additional downward pressure on price. Price Action Remains Indecisive On the charts, LINK’s performance shows indecision between bullish and bearish forces. From August 17 to 19, the asset traded into a supply order block that forced it lower, rejecting price during those three days. The decline, however, found support at $23.40, triggering a mild rebound. Whether LINK can sustain a rally now depends on this support holding. Source: TradingView With sentiment skewing bullish, strong perpetual inflows, and growing institutional adoption, LINK has the conditions to climb higher. Still, persistent spot selling could weigh on momentum and limit the broader rally.

Users of Indian crypto exchange WazirX may be closer to recovering some of the $234 million lost in last year’s hack, after a new restructuring plan won the backing of 95% of voting creditors. The plan, approved by nearly 150,000 creditors representing more than $206 million of claims, comes months after Singapore’s High Court rejected an earlier version over regulatory concerns. The latest scheme will now return to the court for approval. WazirX was hacked in July 2024, when attackers drained assets from a Safe Multisig wallet in a breach later attributed to North Korean hackers. The platform froze both crypto and rupee withdrawals shortly afterward. Founder Nischal Shetty said Monday that if the court signs off, WazirX would resume operations and begin compensating users within 10 days of “the scheme taking effect.” That timeline contrasts with earlier estimates from restructuring firm Kroll, which had said repayments might take two to three months. Court Rejection Forced Redesign A similar proposal won user approval in April but was struck down by the High Court, which questioned how recovery tokens issued to users would comply with rules governing digital token service providers. The tokens are meant to represent outstanding balances not covered by the initial payout. Holders would gradually receive further distributions funded by WazirX profits and asset recoveries. A key change in the revised scheme shifts responsibility for compensation to Zanmai India, an entity under the oversight of India’s Financial Intelligence Unit. WazirX’s parent company, Zettai, had been based in Singapore but set up a new Panamanian subsidiary in June to handle cryptocurrency services after the court ruling. The exchange has warned that without approval, creditors might wait until 2030 or later to see funds, as liquidation would be far slower. Many users, including those active on Reddit and X, said before the vote they backed the plan simply to move the process forward. Others voiced frustration over the drawn-out process and questioned how the restructuring would work in practice. Some argued that holders of tokens unaffected by the hack have been penalized, as prices of those assets have since risen sharply. Separately, India’s Supreme Court dismissed a petition by 54 victims earlier this year, ruling it could not intervene on crypto policy issues.

A federal judge has ordered pastor Eddy Alexandre and his now-defunct EminiFX, to pay $228.5 million in restitution to investors defrauded through a massive crypto Ponzi scheme. The ruling covers over 25,000 victims who collectively lost more than $248 million after being lured by promises of mouth-watering returns. U.S. District Judge Valerie Caproni granted summary judgment in favor of the Commodity Futures Trading Commission (CFTC), which pursued the civil enforcement action against Alexandre.  The civil ruling comes months following the sentencing of Alexandre to nine years in federal prison for masterminding the scheme under the guise of an automated crypto and forex trading platform. CFTC Sends Strong Message Against Fraud Posing as “Crypto” or “AI” Representing himself in federal court, Alexandre failed to dispute the CFTC’s fraud allegations. The restitution was based on total investor contributions minus withdrawals, while the court added a $15 million disgorgement penalty.  The CFTC described the judgment as essential in deterring future fraud targeting vulnerable investors. U.S. Attorney Damian Williams previously called Alexandre’s actions “brazen,” pointing out that he abused trust within his church and Haitian-American community. By wrapping his scheme in terminology like “AI-driven trading,” Alexandre was also said to have exploited both cultural ties and the current hype around emerging technologies. Alexandre’s Long History of Fraud Federal prosecutors first charged Alexandre in 2022 with commodities and wire fraud, noting that he had raised $59 million from early investors under false pretenses. From September 2021 to May 2022, EminiFX pitched itself as a platform delivering “guaranteed” weekly returns between 5% and 10% using a proprietary “Robo-Advisor Assisted Account (RA3)” system. Despite these claims, EminiFX’s performance records told a different story. The platform reported losses in 24 out of its 30 weeks of operation. Even its strongest reported week showed gains of only 2.28%, a fraction of the nearly 10% weekly profit Alexandre claimed was possible. At sentencing, prosecutors highlighted how Alexandre not only concealed losses but also diverted client funds to personal expenses and luxury cars. Authorities say his track record demonstrates a clear pattern of misrepresentation, reinforcing the need for strong regulatory guardrails around retail crypto investment products. This case underscores a broader theme of how regulators are battling fraudulent schemes in the guise of popular buzz terms such as crypto and AI targeted at less informed investors. The CFTC’s judgment against Eddy Alexandre sends a strong and clear message — fraud marketed under the banner of crypto or AI will not escape consequences.  Regulators and legal experts stress that tougher oversight, paired with widespread financial education, particularly for cryptocurrency, is critical to prevent similar schemes from targeting vulnerable investors in the future.

London, United Kingdom, August 20th, 2025, Chainwire MetaWin today announced the launch of the MetaWinners Millionaire, an NFT exclusive prize event with a guaranteed $1.3 million prize pool. The event will take place on September 30, 2025, and will see one NFT holder awarded $1 million, with an additional $300,000 distributed among other winners. Enter now for a chance to win $1.3 Million in in the MetaWinners Millionaire In an industry first, no entries will be available for purchase. The only path to participation is through ownership of a MetaWinners NFT, making this competition fully exclusive to the community. Any single holder of a MetaWinners NFT could be selected as the $1 million winner. With only 10,000 NFTs in circulation, the odds of securing the top prize are 1 in 10,000. Since its launch in December, MetaWinners has emerged as one of the most innovative NFT projects globally. Combining Hollywood level artwork with real world utility, the project has already delivered millions of dollars in prizes to holders, while its NFT floor price has increased tenfold. The MetaWinners Millionaire sets a new benchmark in NFT utility, offering the most significant single cash prize ever guaranteed to an NFT holder. It further establishes MetaWinners as a category defining project in the digital asset space. Event Date: September 30, 2025 Total Prize Pool: $1.3 million Top Prize: $1 million to a single winner Eligibility: MetaWinners NFT holders only For more information, users can visit MetaWin.com About Metawin MetaWin is the premier platform for on-chain prize competitions and instant win games, offering a diverse range of entertaining challenges for users to enjoy. By harnessing cutting-edge blockchain technology, MetaWin provides a transparent, fair, and secure gaming environment, making it the go-to destination for blockchain enthusiasts and gamers alike. About Metawinners The MetaWinners NFT collection is a super premium collection of 10,000 individual art pieces, designed by Terraform Labs, the top concept art studio behind projects such as Transformers: Rise of the Beasts, Avatar 2, Thor and Destiny 2. MetaWinners NFT’s aren’t just futuristic in design; they will form part of holders’ Metawin identity and act as a personal badge of honor throughout the entire Web3 ecosystem. Contact Mr. Press Metawin press@metawin.inc Disclaimer: This content is a press release from a wire service. This press release is provided for informational purposes only. We have not independently verified its content and do not bear any responsibility for any information or description of services that it may contain. Information contained in this post is not advice nor a recommendation and thus should not be treated as such. We strongly recommend that you seek independent financial advice from a qualified and regulated professional, before participating or investing in any financial activities or services. Please also read and review our full disclaimer.

Building and keeping safe wallet apps is very important in the fast-changing world of crypto. Developers often run into different API failures that break functionality, degrade the user experience, and even put security at risk. Not only do these mistakes help fix problems, but they also teach users who are wondering “how to keep my crypto wallet safe” about potential vulnerabilities.  This article goes into detail about typical problems, such as those with the RandomUUID and CreateHmac functions, which are important for making secure IDs and verifying data in crypto settings. We’ll talk about how these problems happen in crypto wallet APIs and provide you with useful tips on how to avoid them by discussing error codes, their causes, and how to fix them. Remember that learning how to handle errors is an important part of learning how to safeguard your crypto wallet. This will help keep your apps safe from attacks in the crypto ecosystem. Crypto wallets use APIs to perform tasks such as process transactions, verify users, and send data safely. Invalid inputs, system bugs, or problems with the environment can all cause errors. For example, people often utilise functions from libraries like the Node.js crypto module, but if they aren’t set up correctly, they can cause issues.  We’ll stress recommended practices for security throughout this tutorial, and we’ll show how fixing these mistakes helps keep crypto wallet assets safe. Because the crypto market is so unstable, it’s important to know how to preserve my crypto wallet by managing APIs correctly. Crypto Wallet API Errors Explained Here are some of the common wallet API errors explained; Errors with RandomUUID when Creating a Crypto Wallet A common mistake with crypto wallet APIs is the RandomUUID function, which may be called up in Node.js or web browsers using crypto.randomUUID(). This method makes v4 UUIDs that are cryptographically safe and are necessary for making unique session IDs, transaction IDs, or user tokens in crypto wallets. But developers often run into problems like “crypto.randomUUID is not a function” or compatibility concerns, especially with older browsers or server-side rendering (SSR) frameworks like Next.js. Most of the time, the problem is with the environment, as older versions of browsers, for instance, don’t support the Web Crypto API, which causes runtime issues when trying to make UUIDs. In SSR scenarios, synchronous random value generation may fail due to server environments lacking access to safe random sources without further configuration. This is important in crypto wallets, since UUIDs make sure that each user has a unique ID, which stops collisions that could let someone else in. Check your runtime environment first to fix RandomUUID problems. If native crypto isn’t available, you can either update to newer versions of Node.js (v15+) or use libraries like uuid to polyfill the function. Make sure your web apps work with all browsers by testing them on Chrome 92 or later, or a similar browser.  If you have SSR problems, wait till the client side generates UUIDs or utilise asynchronous methods. Using try-catch blocks for error management can gracefully degrade the program, recording the problem without crashing it. If you don’t use RandomUUID correctly, it could show security flaws.  Weak UUIDs could make it easier for attackers to guess, which shows how important it is always to use cryptographically secure measures to protect your crypto wallet. To avoid replay attacks in crypto development, check that the UUIDs you make are random and add them to secure token systems. Errors with CreateHmac and What They Mean Another typical problem is mistakes with CreateHmac, which is called by crypto.createHmac() in Node.js. This function creates Hash-based Message Authentication Codes (HMACs), which are crucial for verifying the integrity and validity of data in crypto wallet APIs. HMACs are used to sign API requests, verify users, or protect transaction payloads. They make sure that messages haven’t been changed while they were being sent. Common issues are “Invalid algorithm” or “Key must be a buffer,” which happen when the hashing algorithm (like ‘sha256’) isn’t supported or the secret key isn’t structured correctly. For example, this can happen if you pass a string key without converting it to a Buffer or use an algorithm that isn’t available at runtime. When using APIs to authenticate, especially when connecting to exchanges like Bitstamp, mismatched HMACs cause activities to stop and return “Authentication failed” messages. Often, the problem is with giving the wrong parameters. For example, crypto.createHmac needs an algorithm string and a key (Buffer, TypedArray, or DataView). Encoding could be missed by developers, which could cause digest mismatches. This mistake can stop users from securely signing transactions in crypto wallets, which might make them vulnerable to man-in-the-middle attacks. Fixes include checking inputs: Always use Buffer.from() to turn keys into Buffers, and stick to established techniques like “sha512.” Check the outputs of HMAC creation against predicted values to test it in isolation. To avoid hardcoding and make things safer, utilise environment variables for keys in production. Fixing CreateHmac problems is an important part of how to safeguard my crypto wallet, since using HMAC correctly stops forgeries. In the world of cryptocurrency, you can stop replay attacks by combining HMACs with timestamps and nonces, which keeps your wallet API safe. Errors With The System and Invalid Parameters Moving on to more general API problems, system errors like code 10001 (“System error”) show that there are problems with JSON-RPC behind the interface layer, which is frequent in crypto wallet backends. These could happen because the server is too busy or because the infrastructure has exceptions that haven’t been handled. Code 10002 (“Invalid parameters”) does the same thing: it indicates RPC/API inputs that are missing or not formatted correctly, like when transaction requests have the wrong data types. When it comes to crypto wallets, these issues mess up basic tasks like checking your balance or moving assets. API version mismatches or unstable networks are two possible causes. To fix problems, check the logs for specific RPC information and contact support for problems inside the company. You can stop them by checking inputs on the client side before you send them. Learning how to protect my crypto wallet is easier when I know these things, because unhandled system faults could leak critical information if they aren’t logged securely. Errors With Authentication and Users Authentication errors happen all the time. For example, when erroneous UUIDs or tokens are used in wallet instances, you could see numbers like 40101 (“User does not exist”). When the project IDs or keys are erroneous during initialisation, code 40102 (“Authentication failed”) stops access. Expired sessions or incorrectly set up authentication flows might cause these issues in crypto wallets.  Checking user data against databases and updating tokens regularly are two possible solutions. Make sure that public addresses are checksum-validated for address-related problems like 40103 (“Address does not exist”). To safeguard my crypto wallet, strong authentication is really important. To add extra layers of security, use multi-factor authentication. Errors In Processing Transactions Transaction failures are the most common problem with crypto wallet APIs. Code 40104 (“Insufficient funds”) is clear and means that you need to check your balance before making a transaction. EIP-1559 problems (40105, 40113) are caused by invalid fee settings, which are widespread in Ethereum wallets. Nonce errors (40106) happen when submissions are out of sequence. You can remedy them by using eth_getTransactionCount to get the current nonces. Gas limit issues (40109) require tools like eth_estimateGas to determine the required gas amount. In crypto, knowing how to handle these stop botched transfers teaches me how to safeguard my crypto wallet by optimising gas and keeping an eye on fees. Errors with Solana and EVM Swap Code 40201 (“Transaction Error”) in Solana means that the JSON-RPC transactions are not legitimate, typically due to a parameter mismatch. Old auction APIs cause errors 40202–40206; hence, you should switch to newer endpoints. When you try to switch EVMs with invalid quotes or token pairs, you get a 40301 error. Check the parameters and utilise simulators to test them. These problems with various chains show how important it is for crypto wallets to be aware of the platform. Errors with JSON RPC Low-level JSON RPC problems like -32700 (“Parse error”) mean that the requests are not well-formed, and -32601 (“Method not found”) means that the methods are not valid. Internal errors (-32603) point to difficulties on the server side. Fix this by making request formats the same and utilising schema validation. This guarantees that communication is stable in crypto APIs. Best Ways to Handle Errors and Keep Your Data Safe Finally, employ full logging without giving out private information, set up retries for temporary problems, and use monitoring tools. Always update dependencies to fix security holes. In the world of cryptocurrency, these tips help me keep my crypto wallet safe, which reduces downtime and associated risks.  Teach consumers about error messages so they may take charge. By fixing issues like RandomUUID and CreateHmac, developers may make crypto wallet APIs that are more reliable, which will help people trust the system.

Club Brugge KV announced a five-year agreement with cross-border payments and FX fintech Neo, naming the company its Official Foreign Currency Exchange Partner until 2030. The Belgian Pro League club, a regular competitor in European tournaments, will use Neo to manage international payments linked to sponsorship deals, player transfers, staff wages, and travel. The partnership aims to lower transaction costs and streamline multi-currency treasury operations. Neo provides an International Bank Account Number (IBAN) and wallet architecture that allows firms to hold, manage, and exchange more than 25 currencies. Its FX platform offers transparent pricing and faster payments, supported by a dedicated team for cross-border operations. “We’re enhancing the way we manage foreign currency and payments across the club” Michiel Van Cauwenberghe, New Business Manager at Club Brugge, said, “At Club Brugge, we’re committed to building something special on and off the pitch. With Neo as a trusted partner, we’re enhancing the way we manage foreign currency and payments across the club. Their support will play an important role in helping us deliver on our ambitions over the coming seasons.” Laurent Descout, co-founder and CEO of Neo, commented, “We’re proud to support one of Europe’s most ambitious clubs. Football today is a global business, and smart currency management plays a vital role in helping clubs stay financially agile. Our platform is designed to make cross-border finance simple, transparent and cost-effective, and we look forward to working closely with Club Brugge over the next five years.” Neo is a cross-border payments and foreign exchange fintech based in Barcelona that provides businesses with a streamlined way to manage their international finances. Its platform is built around a multi-currency account structure, giving companies a single International Bank Account Number (IBAN) through which they can hold, manage, and exchange more than 25 currencies. This approach allows firms to simplify fund management, cut down on the need for multiple banking relationships, and execute international transactions with greater speed and flexibility. Beyond payments infrastructure, Neo delivers foreign exchange trading and execution services with transparent pricing, enabling businesses to reduce the costs typically associated with currency conversion. Its wallet architecture makes it possible to organise funds across currencies and settle payments quickly, while a dedicated team of specialists supports clients with cross-border operations. Having processed more than €20 billion in transactions, Neo positions itself as a one-stop platform for businesses seeking cost-efficient, secure, and flexible international treasury solutions.

At the Wyoming Blockchain Symposium in Jackson Hole, Securities and Exchange Commission (SEC) Chair Paul Atkins said that only a small fraction should be classified as securities, emphasising that context and structure are more important than token classification. Many market observers believe that the statement signals a major shift in how the commission perceives crypto tokens.  Atkins’ remark comes as the SEC concludes its long-running legal battle with Ripple and focuses on setting clearer cryptocurrency rules through its new project, the Project Crypto. This strategic move reflects regulators’ increased willingness to shift away from enforcement-focused regulation and towards developing a framework that encourages innovation. Atkins Pushes for Clarity under Project Crypto Amid Evolving Regulatory Landscape Speaking at the Wyoming event, Atkins emphasised that crypto tokens should not be considered as securities: “There are very few, in my opinion, tokens that are securities, but it depends on what’s in the package and how that’s being sold.” Such a statement marked a major difference between him and his predecessor, Gary Gensler, who repeatedly contended that the majority of digital assets were under the SEC’s purview under the Howey Test. Atkins presented his viewpoint within the broader context of Project Crypto, which seeks to modernise securities legislation and provide better advice for digital assets by distinguishing between commodities, securities, stablecoins, and utility tokens. He proposed that early-stage token issuers be afforded temporary exemptions or safe harbours to encourage innovation while protecting investors. The notice comes after the SEC’s legal issue with Ripple Labs was resolved. With the case withdrawn, Atkins sees an opportunity to move the Commission’s attention away from litigation battles and towards policy formulation. “As this chapter comes to a close, we can focus on developing a clear regulatory framework that promotes innovation while protecting investors,” he added, reflecting a general view in the industry. The Atkins’ policy approach is consistent with larger legislative efforts, such as the CLARITY Act, which aims to formalize definitions and market structures for digital assets, albeit there are still debates about scope and regulatory overlap with the Commodity Futures Trading Commission (CFTC). With the new regulatory outlook, the SEC expresses increasing trust in industry-led innovation and the value of transparent market arrangements. For cryptocurrency enterprises and institutional investors, Atkins’ approach, based on Project Crypto, provides a clearer path ahead in the face of an evolving regulatory environment.

A small London credit union has collapsed into administration, triggering an automatic payout from the UK’s deposit protection scheme to hundreds of local savers. Waltham Forest Council Employee Credit Union (WFCECU), which traded as Forest Savers, formally entered administration on 19 August, according to notices from the Financial Conduct Authority (FCA). The move brings an immediate halt to its operations after more than three decades serving members in east London. The Financial Services Compensation Scheme (FSCS) has stepped in, promising to return deposits within seven working days. Most members will receive compensation automatically by post, with coverage up to £85,000 per individual – the standard UK limit. “This firm is no longer able to meet its obligations to members. Eligible customers will have their deposits returned quickly and securely,” the FSCS said in a statement. Founded in the 1990s, WFCECU started as a savings-and-loans co-operative for Waltham Forest Council staff before expanding to the wider community. Despite its small size, it built a reputation as a low-cost alternative to payday lenders, offering affordable credit to people often underserved by mainstream banks. Financial filings from 2022 showed the scale with around £1 million in member deposits, just under £225,000 lent out, and a small retained earnings buffer. Losses that year eroded its capital base, leaving little room to absorb shocks. Administration and Loan Repayments The FCA confirmed that insolvency specialists Dina Devalia and Terri Mulgrew of Quantuma Advisory have been appointed as joint administrators. The pair have overseen several other UK credit union wind-downs in recent years. Borrowers are being told not to cancel repayments. “Loan agreements remain in force and repayments must continue as originally contracted,” the administrators said. They will issue fresh account details for payments in the coming days. WFCECU is the latest in a line of small credit unions to fail. Dozens have collapsed over the past decade, often due to rising costs, weak governance, or limited capital reserves. While the sums involved are small compared with commercial banks, the failures highlight the fragility of community finance organisations reliant on volunteers and thin margins. Still, the FSCS’s rapid intervention helps reassure savers that their money is safe. “Members don’t need to do anything – compensation will be sent automatically,” the scheme said. Former members are urged to redirect salaries and benefit payments to other accounts immediately. Meanwhile, consumer watchdogs are warning savers to remain alert to scams, noting that only FSCS and Quantuma will contact them directly using published details.