High-Leverage Bet Ends in Another Collapse A pseudonymous trader known as James Wynn was liquidated for roughly $4.8 million on Wednesday after taking on aggressive leveraged positions across multiple crypto assets, according to blockchain analytics firm Lookonchain. Data from Lookonchain shows Wynn opened leveraged positions worth $4.8 million using only $197,000 in stablecoins as collateral. On Tuesday, he posted on social media, “Back with a vengeance, coming to get what’s rightly mine,” as he entered the trades. Wynn’s portfolio included a 40x long position on 34 Bitcoin (BTC) valued at $3.85 million, a 10x long on 122 million KingPepe (kPEPE) meme tokens worth $917,000, and a 10x long on 712 Hyperliquid (HYPE) tokens valued at $28,000. Within a day, all three positions were wiped out following sharp price moves across the market. Investor Takeaway Wynn’s liquidation highlights the inherent risk of extreme leverage, where minor price moves can erase entire portfolios overnight. Balance Plunges After Liquidation The wallet linked to Wynn held just $63,133 after the liquidation, according to data from the Hypurrscan block explorer. “It seems every time he returns to Hyperliquid to open new positions, it doesn’t take long before he gets wiped out,” Lookonchain wrote on X, formerly Twitter. The collapse came despite Wynn’s repeated attempts to rebuild his fortune through high-risk trades on Hyperliquid, a decentralized exchange popular for perpetual futures contracts. The platform allows users to apply leverage far exceeding their collateral, amplifying both gains and losses. Leverage trading remains one of the most volatile corners of the crypto market. Even seasoned traders face liquidations within hours when price movements swing against them. Wynn’s strategy of stacking leveraged positions across correlated assets left him exposed to a chain reaction once Bitcoin prices dipped. Not His First Major Loss Wynn has become one of crypto’s most notorious figures after a string of massive liquidations. In May 2025, he lost $100 million when Bitcoin fell to $105,000, triggering a margin call that wiped out his long positions. Within days, he returned to the market with another $100 million bet—funded in part by donations from followers—but that position was also liquidated. The twin collapses made Wynn a cult figure on crypto social media, where his trades were followed as both spectacle and cautionary tale. After the second loss, he deactivated his X account and briefly disappeared before resurfacing this week with the ill-fated $4.8 million positions. Traders and analysts have likened his behavior to gambling addiction, where the lure of recouping losses fuels riskier wagers. Wynn’s repeated returns to Hyperliquid despite prior blowups underline the psychological grip of leverage and the social media attention it attracts. Investor Takeaway Wynn’s downfall underscores how social media-fueled trading culture can magnify risk, with followers often treating massive losses as entertainment rather than warning. The Broader Leverage Cycle Leverage in crypto markets has surged during 2025’s bull run, with exchanges offering margin levels of 20x to 100x on popular perpetual contracts. Platforms like Hyperliquid and Binance dominate these markets, processing billions in daily notional volume. But while leverage amplifies returns in rising markets, it also accelerates collapses during pullbacks. Analysts have warned that highly leveraged positions can trigger cascading liquidations across exchanges, amplifying volatility. Wynn’s liquidation adds to a growing list of high-profile blowups that serve as reminders of the thin line between speculation and insolvency in crypto’s derivatives arena. As the market digests this latest episode, Wynn’s saga remains a recurring feature of the leverage-fueled extremes defining digital asset trading—where fortunes are built and erased within hours.

ACA Group (ACA), a leading governance, risk, and compliance (GRC) advisor to the global financial services industry, has launched a comprehensive Market Abuse Risk Framework — the first end-to-end solution tailored for UK and European buy-side firms facing heightened regulatory scrutiny. The framework integrates technology, managed services, and practitioner-led advisory to help asset managers and hedge funds identify, monitor, and manage market abuse risks across all stages of trading. A First-of-Its-Kind Framework for the Buy-Side With this launch, ACA becomes the first firm to deliver a fully regulator-ready, multi-layered risk framework designed to meet the complex compliance demands of buy-side firms under Market Abuse Regulation (MAR), MiFID II, and the Senior Managers and Certification Regime (SM&CR). The framework is built by industry practitioners with deep experience in surveillance, compliance, and front-office conduct — offering clients an actionable, data-driven approach to managing risk across multiple asset classes and trading strategies. The release coincides with a wave of regulatory tightening in the UK and Europe. The FCA’s new five-year enforcement strategy places market abuse and senior management accountability at its core, following a series of insider trading cases and an active consultation on SM&CR reforms launched in July 2025. These developments have pushed buy-side firms to demonstrate not just policy compliance, but proactive management of market integrity and conduct risk. Bridging Regulation and Real-World Practice ACA’s Market Abuse Risk Framework provides a structured, scalable toolkit that combines surveillance, control, and conduct reviews. The program helps compliance teams assess exposure to market abuse, map offences to trading activity, and benchmark their surveillance technology against best practice. Raj Somal, Partner at ACA Group, said the initiative reflects growing demand for actionable frameworks that go beyond traditional risk assessments: “What truly differentiates this solution is the depth of expertise driving it. Our clients are navigating increasingly complex trading, jurisdictional, and infrastructure environments — often without a clear, actionable view of their market abuse risk. This isn’t just a health check; it’s a dynamic, evolving programme that firms can use to strengthen governance, meet evolving regulatory and business expectations, and build investor confidence.” Key Features of the Framework The new Market Abuse Risk Framework offers a set of components that can be tailored to firms of different sizes and trading profiles, including: Proprietary Market Abuse Matrix: Mapping potential market abuse offences against trading activity across all asset classes, from equities and derivatives to real assets and ETFs. Surveillance and Policy Review: End-to-end evaluation of surveillance systems, STOR (Suspicious Transaction and Order Reports) procedures, information barriers, and internal controls. Comprehensive Coverage: Incorporating both public and private markets, algorithmic and quantitative strategies, and custom basket products. Technology Alignment: Assessment of existing surveillance systems to ensure they match a firm’s risk profile and evolving regulatory requirements. Dynamic Question Bank: A continually updated database of risk scenarios informed by ACA’s client engagements and industry trends. Reusable Risk Framework Document: Delivering a standardized but adaptable compliance manual with clear guidance for maintenance and updates. Integration With ComplianceAlpha® ACA’s new framework is designed to integrate seamlessly with the firm’s ComplianceAlpha® regulatory technology platform, which supports trade and electronic communications (eComms) surveillance, conflict of interest monitoring, and oversight of expert networks and research interactions. When combined, the framework and technology deliver a single, unified compliance ecosystem that spans the pre-trade to post-trade lifecycle. This holistic model allows firms to identify red flags earlier, streamline investigations, and maintain consistent oversight across their operations. It also enables outsourced managed services options for firms seeking to scale their compliance resources efficiently without compromising on regulatory standards. Regulatory Context and Market Implications The launch reflects a growing trend among regulators to demand tangible proof of proactive risk management. Enforcement actions from both the Financial Conduct Authority (FCA) and the European Securities and Markets Authority (ESMA) have underscored that technology alone is insufficient — firms must demonstrate integrated governance and behavioral oversight frameworks that align with senior management accountability obligations. For asset managers and hedge funds, the framework offers a path to evolve from reactive compliance to predictive risk management, helping them mitigate enforcement exposure while strengthening investor confidence in governance and culture. The timing is notable as European regulators begin to expand scrutiny into algorithmic trading, alternative data usage, and cross-asset market manipulation typologies. Industry Engagement and Next Steps ACA will host a live session on 23 October 2025 at 2:00 p.m. BST to explore how firms can operationalize market abuse surveillance and adapt to the FCA’s revised supervisory expectations. The event will feature case studies from ACA’s practitioner network and insights into how technology, culture, and accountability intersect in the new regulatory landscape. Takeaway ACA’s Market Abuse Risk Framework represents a milestone in the evolution of buy-side compliance. Combining practitioner-built insight, advanced surveillance technology, and regulatory alignment, it provides firms with the structure and intelligence to meet a fast-tightening compliance environment head-on. As regulators sharpen their focus on market abuse and senior accountability, ACA’s solution offers a blueprint for sustainable, proactive governance in modern financial markets.

Coinbase is preparing to list BNB, the native cryptocurrency of Binance’s sprawling ecosystem, marking the first time the U.S. exchange has extended support to its biggest rival’s flagship token. The announcement, published Wednesday on Coinbase Markets’ official listing roadmap, said trading would open once the platform has “sufficient technical infrastructure and market-making support” in place. The addition of BNB to the roadmap is seen as a rare crossover between two exchanges that have long operated on opposite ends of the regulatory and competitive spectrum. The timing comes after a tense week for the crypto industry, marked by renewed debate over how tokens make their way onto major trading venues. Earlier this week, Binance pushed back against what it called “false and defamatory” claims by CJ Hetherington, CEO of Limitless Labs — a firm backed by Coinbase Ventures — that Binance requested token allocations in exchange for listings. In the wake of those allegations, Jesse Pollak, who heads Coinbase’s Base layer-2 network, said on social media that “exchange listings should cost 0%.” The comment quickly fueled calls for Coinbase to “lead by example” by listing BNB, a challenge the company appeared to take up within days. Just hours before adding BNB to its roadmap, Coinbase unveiled a new initiative dubbed The Blue Carpet — a set of tools and disclosure requirements for token issuers designed to increase transparency. The company reiterated that it does not charge listing or application fees, positioning the move as part of its broader effort to promote what it calls fair and open market access. BNB, the world’s third-largest cryptocurrency by market capitalization, briefly climbed 2% to around $1,175 following Coinbase’s announcement, according to data from The Block. The gains were short-lived, with the token later slipping back alongside broader market declines. The addition of BNB could open new liquidity pathways between the two exchanges’ ecosystems. BNB powers a network of products tied to Binance’s blockchain infrastructure, including its decentralized exchange, smart-contract platform, and payment services. While Coinbase’s listings have traditionally focused on Ethereum-based and U.S.-regulated assets, Wednesday’s move suggests a widening of scope toward assets that dominate global trading volume outside the U.S. Coinbase’s decision comes amid increasing scrutiny over listing practices across the digital asset industry. Regulators in multiple jurisdictions have pressed exchanges to disclose how they assess new tokens, following years of criticism that opaque listing processes allow for conflicts of interest and insider trading. For Binance, which has faced its own regulatory and legal headwinds over the past year, a Coinbase listing could lend further legitimacy to BNB among U.S. investors — though trading volumes will likely remain concentrated on Binance’s own platforms. As of late Wednesday, BNB was trading down 4.5% on the day, echoing a wider pullback in crypto markets. Whether the listing will proceed without hurdles remains to be seen. Coinbase’s roadmap inclusion is a preliminary step rather than a final decision, and trading typically launches only after all technical and compliance checks are completed. Still, the signal was clear enough for markets to take notice: for the first time, the two largest centralized exchanges appear to be intersecting, even if only on paper.

Laser Digital, the digital assets arm of Nomura Group, has executed its first Bitcoin options trade on GFO-X — the UK’s first FCA-authorised and centrally cleared digital-asset derivatives venue. The trade, completed via the Liquid Mercury Pro platform, marks another milestone in the institutionalisation of crypto derivatives markets. Bringing TradFi Standards to Crypto Derivatives The successful execution comes as open interest in crypto derivatives markets surges through 2025, reflecting the growing participation of institutional investors. Laser Digital’s trade on GFO-X demonstrates how regulated, centrally cleared venues are reshaping access to digital-asset derivatives, combining traditional financial safeguards with on-chain innovation. Having secured a Financial Services Regulatory Authority (FSRA) license in 2024 and an OTC derivatives trading license earlier this year under Dubai’s Virtual Assets Regulatory Authority (VARA) Pilot Framework, Laser Digital now extends its deep liquidity and risk-management capabilities to institutions seeking to execute crypto futures and options in trusted, regulated environments. GFO-X: A Regulated Bridge Between Crypto and Institutions GFO-X offers streaming and block trading in centrally cleared Bitcoin futures and options. Built to meet the operational and compliance needs of institutional investors, the exchange emphasizes transparency, counterparty protection, and operational resilience — foundational elements for attracting risk-aware capital to the digital-asset ecosystem. Dr. Jez Mohideen, Co-founder and CEO of Laser Digital, said the milestone highlights how traditional risk frameworks can accelerate the maturation of crypto markets: “The emergence of fully regulated, centrally cleared crypto derivatives represents the next stage in the institutional adoption of digital assets. Trading on GFO-X brings our TradFi edge in risk management, capital efficiency, and counterparty protection to a market that’s rapidly evolving and constantly seeking trusted partners. As we roll out the full suite of digital finance for institutional clients, our focus remains on providing trades that align with regulatory compliance and higher governance.” Institutional Appetite Meets Market Structure Evolution Laser Digital’s first trade on GFO-X underscores a broader market trend — the fusion of traditional finance infrastructure with digital-asset innovation. Institutional investors are increasingly demanding the same standards of governance, clearing, and transparency that exist in established derivatives markets. For these institutions, central clearing mitigates counterparty risk while ensuring trades are executed and settled within frameworks familiar to traditional market participants. This evolution mirrors the trajectory of other asset classes, where regulatory clarity and infrastructure maturity catalyze institutional inflows. Market Leaders Applaud Growing Regulatory Momentum Arnab Sen, CEO and Co-founder of GFO-X, called the trade a key benchmark for regulated digital-asset markets: “Laser Digital is setting the benchmark for institutional participation in digital-asset derivatives. Their engagement on GFO-X underscores the growing demand for tier-1 regulated, centrally cleared, credit-intermediated market infrastructure that allows institutions and professional investors to confidently trade and hedge exposure.” With global derivatives open interest surpassing previous records in 2025, GFO-X’s launch signals a turning point in the evolution of crypto market structure. By integrating clearing, transparency, and compliance, it offers institutions a pathway into digital assets without compromising on governance or operational standards. Takeaway Laser Digital’s debut trade on GFO-X marks a milestone in aligning crypto derivatives with the regulatory and operational rigor of traditional finance. As the digital-asset derivatives market matures, partnerships between regulated venues and established financial institutions are setting new benchmarks for transparency, liquidity, and risk management in global markets.

KEY TAKEAWAYS Polymath redefines digital finance by providing a blockchain platform that simplifies the creation, issuance, and management of regulated security tokens. Its mission is to make capital markets more accessible, transparent, and efficient. Security tokens bridge traditional finance and blockchain, enabling fractional ownership, faster settlement, and global participation in assets. Regulatory compliance is core to Polymath’s design, embedding KYC/AML and jurisdictional rules directly into tokens. Security tokens could transform finance, unlocking trillions in illiquid assets, creating new investment models,   Polymath is at the forefront of a revolutionary shift in the financial and investment landscapes, primarily through its role in digital securities and security tokens. Understanding what Polymath is and why security tokens could be the next big thing involves exploring both the company’s mission and the technological advancements in blockchain that underlie this movement. What Is Polymath? Polymath is a blockchain platform that aims to simplify the process of issuing and managing security tokens, which are digital representations of traditional securities like equities, bonds, or real estate assets. The platform was founded with the goal of democratizing access to investment opportunities by creating a more efficient, transparent, and compliant way to issue securities on the blockchain. Polymath provides the infrastructure, tools, and regulatory compliance protocols needed to tokenize financial assets, enabling businesses and investors to participate in a new era of digital asset management. Its core offering is a protocol that developers and companies can integrate into their own platforms to create security tokens that adhere to regulatory standards worldwide. How Does Polymath Work? Polymath leverages blockchain technology and smart contracts to facilitate the creation, issuance, and management of security tokens. Its platform ensures that the tokens are compliant with existing securities laws, making them legally tradable and accessible globally. This process involves compliance modules that control how tokens are bought, sold, and transferred, fulfilling regulatory requirements such as investor accreditation and KYC (Know Your Customer). The Role in Education and Development Polymath aims to educate and empower both developers and regulators by providing a comprehensive ecosystem that simplifies compliance. It partners with other companies and regulatory bodies to develop standards for security tokens, ensuring widespread adoption and trust. Why Could Security Tokens Be the Next Big Thing? Security tokens represent a transformative shift in financial markets, promising to expand access, improve liquidity, and democratize investment opportunities. Several key factors support their potential growth: Democratization of Investment Traditional securities markets are often restricted by geographical, regulatory, and institutional barriers. Security tokens can be fractionalized, enabling smaller investors to access previously exclusive assets like real estate, art, or private equity, thereby democratizing wealth accumulation. Increased Liquidity and Accessibility The tokenization of illiquid assets allows for continuous trading on digital platforms, increasing liquidity and making it easier for investors to buy or sell fractional interests in assets. This liquidity boost could lead to more efficient markets and faster capital flows. Enhanced Transparency and Security Blockchain technology inherently offers transparency, immutability, and security. All transactions are recorded on a distributed ledger, reducing fraud risk and increasing trust among participants. Coupled with compliance protocols, security tokens help address regulatory concerns and foster confidence in digital securities. Lower Costs and Greater Efficiency By eliminating intermediaries such as banks and brokers, security tokens reduce issuance costs and processing times. Smart contracts automate many functions related to compliance, dividends, voting, and transfer restrictions, leading to more efficient market operations. Broader Regulatory Acceptance Governments and regulators worldwide are gradually recognizing and establishing frameworks for security tokens and initial security offerings (STOs). This regulatory clarity incentivizes companies to adopt tokenization, making security tokens a legitimate and scalable alternative to traditional securities. Challenges & Risks It isn’t all smooth sailing; there are still obstacles to overcome before security tokens are everywhere. Some of these are: Regulation is Complex and Variable: Securities laws differ greatly between countries, and even between states/provinces. Embedding rules for every jurisdiction is hard. Regulatory uncertainty remains in many places. Liquidity is not guaranteed: Just because something is tokenized doesn’t mean there will be active markets or sufficient trading volume or exchanges to support good liquidity. Without that, fractionalization doesn’t help much. Custody, Identity, Privacy Concerns: On one hand, transparency is good, but investors also often need privacy. Managing identity while preserving privacy, handling custody of tokens, resisting fraud or hacks, and building safe infrastructure is nontrivial. Legal Enforceability & Interoperability: The token must be legally recognized, enforceable in courts, and trusted by financial institutions. Also, if tokens are across platforms or chains, there must be interoperability. Technology Risk: Smart contract bugs, chain security, governance issues, etc. Market Adoption Inertia: Traditional finance players (banks, custodians, etc.) are often cautious. Changing established systems is slow. Cost & Complexity of Changing Systems: Even when blockchain offers efficiencies, integrating with legacy financial infrastructure is costly and requires close cooperation with law, regulation, and compliance services. How Polymath Tries to Solve These Problems Polymath’s design addresses many of these challenges in the following ways: It builds in identity and compliance layers so that tokens include identity information (or links to off-chain identity verification) to enforce regulatory rules. It uses standards (ST-20, ERC-1400) so that tokens issued are more interoperable, more predictable in how they behave, which reduces friction for exchanges, custodians, etc. Polymesh blockchain is built specifically with features for regulated assets: governance, built-in compliance, finality, identity, and lower-cost transactions. This avoids some limitations of more general blockchains. It offers a white-label software-as-a-service (SAAS) platform so issuers can more easily issue tokens, manage cap tables, and make offerings, without having to build everything from scratch. It works with a network of legal, regulatory, KYC/AML, and custody service providers to ensure the off-blockchain parts are addressed.  Why It Might Be The Next Big Thing (Or Already Is) Putting all this together, here are reasons Polymath + security tokens might disrupt or transform parts of finance: Tremendous Addressable Market: The amount of value locked in private equity, real estate, and illiquid assets is enormous. Even small fractional improvements in liquidity, cost, and access could create large value. Alignment with Regulatory Trends: Regulators are increasingly aware of and engaging with blockchain tokenization. If security token frameworks become standard, companies that are early to comply (or build compliant infrastructure) stand to benefit. Technology Catching up & Specialization: Earlier blockchain systems weren’t built with compliance in mind; now, with purpose-built chains like Polymesh, standards like ERC-1400, identity layers, etc., many of the technical obstacles are being addressed. Investor Demand: There is growing interest from institutional investors in digital securities; also interest from smaller investors in accessing alternative assets (real estate, startups), which were previously hard to reach. Tokenization could meet that demand. New Financial Products: As tokenization allows fractionalization, programmability, and cross-jurisdictional compliance, we may see asset classes and financial products that are currently inefficient or impossible, such as dynamic yield products, revenue shares, tokenized funds, etc. Bridging Traditional Finance and Blockchain: Polymath’s Role in the Security Token Revolution Polymath is one of the pioneering platforms aiming to bring together blockchain, tokenization, and financial regulation. By providing standards (ST-20, ERC-1400), compliance tools, identity layers, and a blockchain optimized for regulated securities (Polymesh), it seeks to enable security tokens to become a major part of how assets are issued and traded. Security tokens have the potential to reshape finance by unlocking illiquid assets, lowering costs, improving transparency, enabling fractional ownership, and opening access to more participants. While there are still significant technical, regulatory, and market challenges, the direction is promising enough that many believe this could be a paradigm shift. FAQ What exactly is Polymath? Polymath is a blockchain platform designed to simplify the creation and management of compliant security tokens, digital representations of traditional assets such as stocks, bonds, or real estate. How do security tokens differ from utility tokens? Security tokens represent ownership or investment rights in real-world assets and must comply with securities laws, while utility tokens provide access to a platform’s services or products and are not typically regulated as securities. How does Polymath ensure regulatory compliance? Polymath integrates compliance rules into its token standards (ST-20, ERC-1400) and uses built-in KYC/AML and identity verification layers to meet jurisdictional requirements. What is Polymesh and why is it important? Polymesh is Polymath’s purpose-built blockchain for regulated assets. It offers features like on-chain identity, governance, and finality crucial for institutions and regulators. How do security tokens benefit investors? They provide easier access to high-value assets, enable fractional ownership, increase liquidity through digital trading, and improve transparency via blockchain technology. Are there risks associated with security tokens? Yes. Challenges include regulatory uncertainty, limited liquidity on secondary markets, technological vulnerabilities, and the slow pace of adoption among traditional financial institutions.

KEY TAKEAWAYS Hashing transforms data into a fixed-length cryptographic fingerprint that ensures integrity and authenticity. Every block in a blockchain contains its own hash and the previous block’s hash, forming an immutable chain. Core properties of hash functions include determinism, pre-image resistance, collision resistance, and the avalanche effect. Popular algorithms include SHA-256 (Bitcoin), Keccak-256 (Ethereum), and Scrypt (Litecoin, Dogecoin). Hashing secures mining, consensus, and data verification processes in decentralized networks.   Hashing is a foundational technology in cryptocurrencies and blockchain, enabling data security, immutability, and trustworthiness of transactions. To understand its crucial role, let’s explore what hashing means in the crypto context, how it works, and why it’s indispensable in securing blockchain networks. What is Hashing? Hashing is the process of applying a mathematical function, called a cryptographic hash function, to an input of arbitrary size (like transaction data) to produce a fixed-size string of characters known as a hash. Think of the hash as a digital fingerprint: it uniquely represents the input data but without revealing the original content. Hash functions are designed to be one-way; it’s practically impossible to reconstruct the original input from the hash. How Hashing Works in Cryptocurrencies In blockchain, every block of transactions contains: The block’s own data A timestamp A hash of the block’s data The hash of the previous block This linking of hashes forms a “chain,” hence the term blockchain. Here’s why this is important: 1. Data Integrity and Immutability Any change to a block’s data, no matter how small, will produce a completely different hash. This changed hash breaks the link to the next block because each block stores the previous block’s hash. To alter one block, an attacker would need to recalculate the hashes of that block and all the subsequent blocks, a task so computationally expensive it’s virtually impossible. 2. Fast, Reliable Verification Hash functions enable quick verification of data integrity. Anyone can compute the hash of a block’s data and compare it with the stored hash. If they match, the data is intact; if not, tampering is detected. 3. Securing Consensus In Proof-of-Work systems like Bitcoin, miners compete to find a hash that meets a predefined difficulty level. This requires repeatedly hashing block information with different nonce values until a valid hash is found, securing the network and determining which block is added next. The Core Properties of a Cryptographic Hash Function Cryptographic hash functions, as opposed to simple hash functions used for indexing or checksums, must satisfy certain critical properties to ensure their usefulness in security and cryptography: Deterministic Output: The same input will always yield the same hash output. This consistency allows nodes across the blockchain to independently verify transactions without ambiguity. Pre-image Resistance: It should be computationally infeasible to determine the original input based solely on its hash output. This prevents attackers from “cracking” sensitive information by guessing inputs. Second Pre-image Resistance: It should be nearly impossible to find a different input that produces the same hash as another input. This ensures data authenticity and integrity. Collision Resistance: Two different pieces of data should never generate the same hash output. While collisions can theoretically occur (because hash space is finite), strong cryptographic algorithms make this probability astronomically low. Avalanche Effect: A tiny change in input should drastically alter the output hash. This sensitivity prevents attackers from making predictable changes to data. These properties together form the cryptographic backbone of secure digital systems, including every major cryptocurrency. Popular Hashing Algorithms in Cryptocurrency Hashing algorithms form the backbone of blockchain security, ensuring data integrity and preventing fraud. Below are some of the most commonly used ones. SHA-256 (Secure Hash Algorithm 256-bit) Used by Bitcoin and many other cryptocurrencies. Developed by the NSA and standardized by NIST. Provides a 256-bit output. Known for strong collision resistance and robustness. Keccak-256 (SHA-3) Used by Ethereum for hashing and address generation. Designed as the winner of NIST’s SHA-3 competition. More resistant to certain cryptographic attacks than older SHA-2 algorithms. Scrypt Used in Litecoin and Dogecoin. Memory-intensive and designed to be ASIC-resistant, making it fairer for smaller miners. X11, Blake2b, and Equihash Used by newer coins for varying levels of speed, energy efficiency, and security. Each of these algorithms aims to strike a balance between computational difficulty, speed, and security, depending on the network’s goals. Why Hashing is Crucial for Crypto Security Hashing isn’t just a mathematical trick; it’s a security guarantee baked into every aspect of cryptocurrency. Its roles extend far beyond block linking or address generation. 1. Data Integrity and Tamper Detection Hashes make it immediately obvious if data has been changed. In blockchain, even a single altered transaction changes the block’s hash, alerting the network to potential tampering. This property ensures that once a block is mined and confirmed, its contents become effectively immutable. 2. Authentication Without Exposure Hashing allows verification of data without revealing the data itself. For example, passwords are stored as hashes rather than plaintext in most systems. When you log in, the system hashes your input and compares it to the stored hash; no password ever needs to be exposed. In blockchain, this principle applies to transaction signatures and wallet addresses. 3. Mining Difficulty and Network Security Proof-of-work mining’s reliance on hashing ensures that malicious actors would need massive computational power to alter the blockchain. This computational barrier, defined by hashing difficulty, makes 51% attacks expensive and impractical. 4. Consensus Without Centralization Hashing underpins the consensus mechanism that allows decentralized networks to agree on the state of transactions. By comparing hashes, nodes can easily verify whether they are referencing the same data without needing to trust one another. 5. Privacy and Anonymity Hashed public keys and addresses protect user privacy. Even though all transactions are publicly visible, the identity behind each address remains concealed, thanks to the irreversibility of hash functions. The Role of Hashing Beyond Cryptocurrency While hashing is integral to cryptocurrencies, its importance extends across cybersecurity and data systems more broadly. File Verification: Hashes are used to confirm file integrity in software downloads and cloud storage. Digital Signatures: Hashes enable secure digital contracts and signatures by ensuring that signed data cannot be modified undetected.= Password Protection: Systems store hashed passwords, reducing the impact of data breaches. Merkle Trees: In blockchains, Merkle trees use hierarchical hashing to verify large sets of transactions efficiently. Thus, hashing is a universal tool for verifying trust, protecting data, and authenticating users in the digital age. Hashing: The Mathematical Guardian of Trust in Cryptocurrency Hashing is the unseen engine that powers cryptocurrency’s most defining features: security, transparency, and decentralization. It turns complex data into unforgeable digital fingerprints, ensuring that what happens on the blockchain stays secure and verifiable forever. Without hashing, there would be no immutability, no trustless consensus, and no secure digital currencies as we know them. As blockchain technology continues to evolve, hashing remains the mathematical guardian of trust in an increasingly digital and decentralized world. FAQ What is hashing in cryptocurrency? Hashing is the process of converting data of any size into a fixed-length cryptographic fingerprint, ensuring data integrity and security within blockchain systems. Why is hashing essential for blockchain technology? Hashing links each block to the previous one, creating an immutable chain. Any change to a block alters its hash, instantly revealing tampering. What makes cryptographic hash functions secure? They are one-way, deterministic, and collision-resistant. This means it’s practically impossible to reverse a hash or find two inputs with the same hash. Which hashing algorithm does Bitcoin use? Bitcoin uses SHA-256, a 256-bit hashing algorithm developed by the NSA and standardized by NIST, known for its strength and reliability. How does hashing help with mining? In Proof-of-Work systems, miners repeatedly hash block data with varying nonce values until they find a hash meeting the network’s difficulty target. Is hashing used outside of cryptocurrency? Yes. Hashing secures passwords, verifies file integrity, and enables

OCC Grants Preliminary Charter Erebor, a financial services firm backed by billionaire Peter Thiel, has received regulatory clearance to operate in the United States, according to a report by the Financial Times. The company has secured a preliminary banking charter from the Office of the Comptroller of the Currency (OCC), marking one of the first such approvals for a bank focused on the digital and innovation sectors. The OCC confirmed the decision in a statement, saying that “permissible digital asset activities […] have a place in the federal banking system if conducted in a safe and sound manner.” The charter remains conditional, and Erebor must complete additional compliance and security reviews before it can begin operations — a process expected to take several months. People familiar with the firm told the Financial Times that Erebor intends to serve the “innovation economy,” providing credit and financial services to companies in industries such as cryptocurrency, artificial intelligence, and advanced technology. “We want to be a stable, low-risk, reliable bank doing normal banking things without screwing everyone over with undue risk,” a person close to the company said. Investor Takeaway Erebor’s charter approval underscores the reopening of U.S. banking to fintech and digital asset players after two years of turmoil, though the final licensing phase remains uncertain. Filling the Post-SVB Funding Gap Erebor’s entry comes as startups and tech-focused businesses continue to face tighter lending conditions following the collapse of Silicon Valley Bank and other regional lenders in 2023. The failures of Silvergate Bank, Signature Bank, and First Republic Bank disrupted funding pipelines for early-stage firms, particularly those involved in crypto and frontier technologies. Rising interest rates and a risk-off stance from traditional lenders further strained access to credit, prompting new entrants such as Erebor to target this niche. The firm aims to replicate the role once played by Silicon Valley Bank, serving high-growth businesses that have struggled to secure capital in a more conservative banking environment. Thiel, who co-founded PayPal and was an early investor in Facebook, has backed several ventures at the intersection of finance and technology. Erebor’s approval gives his portfolio a foothold in the U.S. banking system at a time when regulators are cautiously reopening the door to digital asset firms. Regulatory Climate Turns More Welcoming The charter approval coincides with a shift in Washington toward clearer digital asset regulation. President Donald Trump recently signed a stablecoin bill into law, while Congress is debating further legislation on crypto market structure and limits on a central bank digital currency. The measures have encouraged firms to seek U.S. licensing after years of uncertainty. Coinbase has applied for a national trust company charter with the OCC, which would enable it to expand into payments and custody services. Circle, issuer of the USDC stablecoin, and Ripple Labs have filed similar applications. These moves reflect a broader effort by digital asset companies to build regulated operations within the federal banking framework. Still, the trend has met resistance. U.S. banking and credit union trade groups have urged the OCC to pause approvals for crypto-linked firms, citing unresolved “policy and process concerns.” Their warnings mirror the backlash that followed the failures of crypto-friendly banks in 2023, when regulators were accused of lax supervision. Investor Takeaway The OCC’s move suggests a gradual re-entry of digital asset firms into regulated banking, though trade groups are likely to challenge further approvals amid unresolved legal questions. Legal Challenges Ahead The next phase of Erebor’s approval could test the boundaries of federal banking law. Caitlin Long, founder of Custodia Bank, said the issue of whether trust charters can operate as de facto bank charters — allowing institutions to issue loans and access Federal Reserve master accounts — is “very likely to be litigated.” Long and other executives argue that the current system grants an uneven advantage to firms that receive conditional trust charters without meeting the full capital and oversight requirements of traditional banks. Industry lawyers say the outcome could determine how integrated digital asset banks become within the U.S. financial system. For now, Erebor’s conditional approval highlights regulators’ willingness to engage with new entrants, even as the broader policy debate over crypto banking continues. If fully licensed, the Thiel-backed lender could become a test case for how far federal regulators are prepared to go in redefining the boundaries between traditional and digital finance.

The Solana (SOL) price trend continues to show strength, with the asset trading above $220 and testing new resistance zones near $245. Meanwhile, the Uniswap (UNI) price setup is shaping up around $7.80, as analysts eye a breakout above $10 that could shift its mid-term outlook.  Both coins reflect how momentum and liquidity are defining the latest phase of market recovery. But beyond these short-term movements, a larger question stands: who’s actually delivering progress that lasts among the top crypto coins in 2025? That’s where BlockDAG (BDAG) steps in. With its live testnet, $425M+ presale, and verified leadership team, BlockDAG isn’t just following market sentiment; it’s proving that consistent execution and real delivery can still set the tone for long-term crypto growth. BlockDAG’s TGE Code: The Final Gate Before Genesis Day BlockDAG’s TGE code marks the final presale activation before the network officially goes live. Priced at $0.0015 per BDAG, it’s the last locked-in rate ahead of Genesis Day. The TGE code phase replaces the older “Claim” stage and determines ranked airdrop access for early holders, placing the first 5,000 participants at the top of the release queue.  The ranking system is clear: top 300 get instant access, while later tiers unlock gradually, up to 24 hours after launch. Once this phase closes, the presale era officially ends: no restarts, no extensions. With over $425 million raised, BlockDAG is already one of the largest and fastest-moving presales among the top crypto coins in 2025. The excitement isn’t just about numbers; it’s about delivery. The Awakening Testnet is already live, handling 1,400 TPS, fully EVM-compatible, and running real dApps like Reflection and Lottery. This means developers can deploy and test now: proof that BlockDAG’s promises are already in action. Adding to its visibility, BlockDAG’s multi-year partnership with the BWT Alpine Formula 1® Team has gone live, debuting during the Formula 1®  Singapore Grand Prix at Raffles Hotel. With its tech showcased alongside Alpine’s official race car, the project’s global presence has accelerated into mainstream recognition. For traders tracking the top crypto coins in 2025, BlockDAG’s TGE isn’t just a code; it’s the countdown to a live network, real access, and the end of presale forever. Solana (SOL) Price Trend: Testing New Highs with Market Confidence The Solana (SOL) price trend shows steady strength, trading near $223 with intraday highs around $229. Analysts are watching resistance near $245–$250, a key zone that could define the next move toward $248.91, as predicted by short-term models. Market optimism has been fueled by Solana’s strong on-chain activity and renewed developer growth across DeFi and NFT applications.  Despite occasional corrections, the network’s transaction throughput and reliability continue to make it one of the most consistent performers among Layer-1 blockchains heading into late 2025. Still, traders are mindful of broader volatility. Support remains firm between $200–$215, which many view as a healthy accumulation range.  Technical analysts suggest that if Solana maintains this level while trading volume stays high, another breakout attempt could follow before year-end. The Solana (SOL) price trend reflects growing confidence among buyers who see it as a network with sustained momentum rather than short-lived hype. As other Layer-1 projects struggle for traction, Solana’s blend of speed, adoption, and developer retention continues to keep it firmly on traders’ watchlists. Uniswap (UNI) Price Setup: Traders Eye a Move Toward $10 The Uniswap (UNI) price setup is holding steady near $7.84, showing mild upward movement after testing lows around $7.70. Analysts highlight a strong support range between $7.00 and $7.20, with buying activity increasing whenever UNI dips into this zone. If the price breaks above $10.00, it could signal a shift toward a medium-term target between $18–$20, according to recent technical models.  Despite some short-term caution, analysts view UNI’s recent consolidation as healthy, supported by rising liquidity and stable user engagement across decentralized trading pairs. Uniswap (UNI) Price Forecasts from CoinCodex and BraveNewCoin suggest a potential 25–30% upside toward $9.95 by early November, provided momentum continues.  The Uniswap (UNI) price setup also benefits from expanding ecosystem activity, including governance proposals and on-chain trading volume, which have strengthened its position among key DeFi protocols.  However, market watchers note that broader volatility could still slow progress in the short term. If UNI can close above $9.70 and sustain volume, analysts say the setup would confirm a breakout zone—one that could reestablish Uniswap’s place among the most active decentralized exchange assets of 2025. Final Takeaway on Top Crypto Coins in 2025 The Solana (SOL) price trend and Uniswap (UNI) price setup both reflect a market regaining structure and confidence. Solana is holding above $220 and testing new resistance near $245, supported by active network usage and strong liquidity zones. Meanwhile, Uniswap continues to consolidate around $7.80, with analysts watching for a move past $10 that could confirm renewed strength in DeFi activity.  Together, these updates show how two established projects are maintaining traction among the top crypto coins in 2025, even as the market prepares for its next phase of innovation. That next phase is being defined by BlockDAG.  With a $425M+ presale and $0.0015 price, a live awakening testnet, and its TGE code countdown underway, BlockDAG is closing the gap between promise and utility. Its transparent roadmap, active partnerships, and confirmed mainnet timeline place it alongside the top crypto coins in 2025, as one of the few projects already executing what others are still planning. Presale: https://purchase.blockdag.network Website: https://blockdag.network Telegram: https://t.me/blockDAGnetworkOfficial Discord: https://discord.gg/Q7BxghMVyu  Disclaimer: This content is provided by a sponsor. FinanceFeeds does not independently verify the legitimacy, credibility, claims, or financial viability of the information or description of services mentioned. As such, we bear no responsibility for any potential risks, inaccuracies, or misleading representations related to the content. This post does not constitute financial advice or a recommendation and should not be treated as such. We strongly advise seeking independent financial guidance from a qualified and regulated professional before engaging in any investment or financial activities. Please review our full disclaimer for more details.

KEY TAKEAWAYS Bitcoin serves mainly as a store of value, while Ethereum is a programmable blockchain powering smart contracts and dApps. Network utility drives ETH demand as every DeFi, NFT, and DAO transaction requires ETH. Proof-of-Stake transition makes Ethereum eco-friendly and energy efficient. Staking rewards provide passive income, encouraging holding and reducing supply. Scalability upgrades (Layer 2, sharding) will lower fees and boost network capacity. Institutional adoption is increasing through ETFs and regulatory clarity.   Ethereum (Ether) has emerged as a significant contender to Bitcoin in the cryptocurrency space, showing promising prospects that could see it outperform Bitcoin in the long run. While Bitcoin is often dubbed “digital gold,” Ethereum is known as the world’s leading programmable blockchain supporting decentralised applications. This article explores why Ether might surpass Bitcoin in terms of growth, adoption, and utility in the coming years. Fundamental Differences Between Ether and Bitcoin The first step to understanding why Ether could outperform Bitcoin is to acknowledge their distinct purposes and technological underpinnings. Bitcoin was created as a peer-to-peer digital currency and a store of value designed to replicate gold’s scarcity and hedge against inflation. It primarily focuses on secure, decentralised digital payments and preserving value. Ethereum, by contrast, was designed as a generalised blockchain platform that supports smart contracts and self-executing protocols with the terms of agreements written into code. Ether is the native cryptocurrency used to power applications and incentivise validators on the Ethereum network. Ethereum’s capability to function as a decentralised supercomputer capable of running a wide range of apps, from finance to gaming and beyond, gives it a broader scope than Bitcoin, which serves mainly as a currency and store of value.​ Key Reasons Ether Might Outperform Bitcoin While Bitcoin remains the pioneer, several factors suggest Ether could take the lead in the coming years. Here are some of the key reasons why. 1. Superior Network Utility and Growth in Decentralised Applications Bitcoin’s utility largely ends at being a store of value or a medium of exchange. Ethereum, by contrast, has a native demand driver; ETH is required to power every transaction, smart contract execution, and decentralised application on the network. Every time someone Mints an NFT, executes a DeFi transaction, creates a DAO proposal, or deploys a new smart contract, they must pay “gas fees” in ETH. This creates consistent, organic demand for Ether tied directly to the growth of decentralised applications, not speculation alone. As blockchain adoption continues to expand into areas like gaming, supply chain management, and real-world asset tokenisation, ETH’s demand curve could rise exponentially. Unlike Bitcoin, which depends on investor sentiment and macroeconomic trends, Ethereum’s value is intrinsically linked to usage. 2. Transition to Energy-Efficient Proof of Stake Ethereum’s transition from energy-intensive proof-of-work mining to proof-of-stake consensus with upgrades like the Merge has drastically reduced its energy consumption, making it far more environmentally sustainable than Bitcoin. This shift appeals to investors increasingly concerned about sustainability and regulatory scrutiny over crypto mining’s carbon footprint. It also positions Ethereum as a scalable, future-proof platform ready for institutional adoption and long-term growth. 3. Earning Potential Through Staking Rewards Ethereum’s PoS model allows Ether holders to stake their tokens to help validate transactions and earn regular staking rewards, much like earning dividends. This generates a yield on holding Ether, potentially enhancing investor returns compared to Bitcoin, which does not produce any income or interest. Staking incentivises holding Ether longer term and can reduce circulating supply, positively impacting Ether’s price. 4. Innovations in Scalability and Layer 2 Solutions Ethereum’s ongoing development roadmap includes solutions such as sharding and rollups, which significantly increase transaction throughput and lower fees. Layer 2 scaling technologies allow millions of transactions per second off-chain while preserving Ethereum’s security. These innovations address Bitcoin’s limitations in transaction speed and cost, making Ether more attractive for real-world use cases and wider adoption. 5. Institutional Interest and Regulatory Developments Ethereum has recently witnessed growing institutional interest, including futures products and exchange-traded funds (ETFs), which facilitate easier access for large investors. New regulatory clarity plays a role in enabling Ethereum’s adoption without the regulatory uncertainties that may hinder Bitcoin in some jurisdictions. The ability to build compliant financial products on Ethereum further encourages institutional capital inflow. 6. Larger Addressable Market Beyond Digital Gold Bitcoin mainly aims to disrupt the gold market, valued at around $7 trillion, as a trusted value reserve. Ethereum, however, seeks to disrupt the $22 trillion global financial services sector and beyond by enabling programmable finance and trustless applications. This broader ambition offers Ethereum much greater growth potential as an infrastructure layer for next-generation financial technology. 8. The Narrative Shift: From “Sound Money” to “Productive Asset” Bitcoin’s narrative as “sound money” is powerful, but limited. It appeals primarily to investors seeking an inflation hedge or a decentralised store of value. Ether’s emerging narrative, however, extends further. ETH is: A productive asset (through staking rewards), A deflationary currency (via EIP-1559 burns), A utility token (for network transactions), and A collateral backbone (for DeFi and stablecoins). This multifaceted utility creates multiple streams of value accrual for Ether holders. As decentralised finance and tokenised assets grow, Ether’s role as the base collateral of the decentralised economy strengthens something Bitcoin cannot easily replicate without sacrificing its minimalist design philosophy. Risks Facing Ethereum Compared to Bitcoin While Ethereum’s prospects look strong, it carries more execution risk than Bitcoin’s relatively conservative development path. Ethereum’s complex upgrades and shifting economic model require flawless implementation to maintain security and value proposition. Increased competition from newer Layer 1 blockchains offering faster and cheaper alternatives threatens Ethereum’s market share. For all its utility, Ethereum’s higher supply inflation and potential Layer 1 value dilution pose risks compared to Bitcoin’s capped supply and simpler monetary policy. Bitcoin’s established brand, proven security, and fixed supply make it a more predictable store of value, appealing to conservative investors. Recent Market Trends Indicating Ethereum’s Strength 2024 and 2025 have seen notable periods where Ethereum outperformed Bitcoin, especially during bullish altcoin seasons and following technological milestones. Ether posted strong gains of around 39% in late 2024, slightly outpacing Bitcoin’s 35% gain during the same period. Institutional money rotating into Ether ETFs and futures products has increased demand. Technical analysis shows Ether breaking important resistance levels, signalling potential for sustained upward momentum. Why Ether Could Outpace Bitcoin Long Term Ether’s programmable blockchain capabilities, energy-efficient consensus, staking rewards, scalability innovations, and expanding ecosystem position it as a versatile platform with more sustainable and diverse growth drivers than Bitcoin. While Bitcoin’s conservative store-of-value narrative remains strong, Ethereum’s ability to power entire decentralised industries and offer income opportunities makes it a compelling long-term investment. In the evolving crypto landscape, Ether’s multi-dimensional value may allow it to outperform Bitcoin as the network effects of decentralised finance and applications redefine the future of money and finance. FAQ How is Ethereum different from Bitcoin? Bitcoin functions primarily as digital gold, a decentralised store of value and payment network. Ethereum, on the other hand, is a programmable blockchain that supports smart contracts and decentralised applications (dApps), making it far more versatile. Why might Ethereum outperform Bitcoin in the long run? Ethereum’s value is tied to real network activity; every transaction, NFT mint, and DeFi trade requires ETH. Combined with staking rewards, energy efficiency, and scalability upgrades, it offers more diverse growth drivers than Bitcoin. What role does staking play in Ethereum’s advantage? Ethereum’s Proof-of-Stake (PoS) model allows users to earn passive rewards by validating transactions. This yield-generating feature encourages long-term holding and reduces circulating supply, potentially boosting ETH’s price stability and growth. How does Ethereum’s Proof-of-Stake benefit the environment? After the Merge, Ethereum’s energy consumption dropped by over 99%. This makes it a greener, more sustainable network, aligning with institutional ESG goals and investor demand for low-carbon assets. Can Ethereum’s scalability upgrades really solve high gas fees? Yes. Upcoming solutions like sharding and Layer 2 rollups are designed to dramatically increase transaction throughput and lower fees, improving user experience and expanding Ethereum’s use cases beyond DeFi and NFTs. Does Bitcoin still have advantages over Ethereum? Bitcoin remains the most secure and decentralised store of value, with a fixed 21-million-coin supply. Its simplicity and predictability make it appealing to conservative investors who prioritise security over innovation.

Coincheck Group N.V. (Nasdaq: CNCK), the holding company of Japan’s leading crypto exchange Coincheck, Inc., has completed the acquisition of Aplo SAS, a French-registered digital asset prime brokerage serving institutional clients. The transaction marks a major milestone in Coincheck Group’s global expansion strategy, strengthening its presence in Europe and broadening its service portfolio to cater to institutional investors seeking compliant, scalable digital asset infrastructure. Strategic Acquisition Anchors Institutional Growth Under the terms of the deal, all outstanding shares of Aplo were exchanged for newly issued ordinary shares of Coincheck Group. Following the acquisition, Aplo’s four co-founders — Oliver Yates, Simon Douyer, Arnaud Carrere, and Jacques Lolieux — will continue to lead the company’s operations and product development. Aplo, established in 2019 and registered as a Digital Asset Service Provider (DASP) with France’s Autorité des Marchés Financiers (AMF), has built a strong reputation as a trusted institutional prime brokerage. The firm currently serves over 60 institutional clients across Europe and globally, including hedge funds, asset managers, banks, and corporates. In 2025, Aplo was recognized as “Prime Broker of the Year (EMEA)” at the Hedgeweek Global Digital Asset Awards — highlighting its growing influence in institutional crypto markets. Accelerating Innovation in Institutional Crypto Infrastructure Through this acquisition, Coincheck Group and Aplo aim to combine their respective expertise to deliver advanced digital asset trading, liquidity, and financing solutions. The collaboration is set to accelerate Aplo’s product roadmap, focusing on: Enhanced financing solutions — including cross-margining and deferred settlement tools designed to boost capital efficiency for institutional clients. Liquidity and jurisdictional expansion — broadening market access across Europe, Asia, and other key financial hubs. Infrastructure innovation — integrating Coincheck’s security architecture and technology stack to support scalable, compliant digital asset trading. Banking partnerships — extending a B2B2C model to banks seeking to use Aplo’s execution platform to offer crypto exposure to their retail or corporate clients. In a statement accompanying the announcement, Coincheck Group said the acquisition “reinforces our commitment to building secure, regulated bridges between traditional finance and the digital asset economy.” Advisors and Transaction Details Galaxy Digital Partners LLC acted as the exclusive financial advisor to Aplo, while Squair provided legal counsel. On Coincheck Group’s side, De Brauw and Jeantet served as legal advisors. The transaction was settled through a share exchange, with no cash component disclosed. Coincheck’s Expanding Global Ambitions The acquisition represents a key step in Coincheck Group’s transformation from a Japan-focused crypto exchange to a globally diversified digital asset company. Listed on the NASDAQ, Coincheck Group operates from its headquarters in the Netherlands and continues to expand internationally through strategic partnerships and acquisitions aimed at integrating regulated, institutional-grade services into its ecosystem. Coincheck, Inc. — the group’s core subsidiary — has dominated Japan’s retail crypto market, ranking No.1 in crypto trading app downloads for six consecutive years (2019–2024) according to AppTweak data. The company’s robust compliance framework and technological infrastructure have positioned it as a bridge between the retail and institutional sides of the digital asset economy. Aplo’s Institutional Focus and Regulatory Advantage Founded in Paris, Aplo was among the first crypto prime brokerages to obtain AMF registration as a DASP, providing regulatory certainty to institutional clients in Europe. Its unified trading and liquidity platform allows large-scale execution across exchanges and OTC venues, with an emphasis on transparency, risk control, and capital efficiency. By joining forces with Coincheck Group, Aplo gains access to expanded resources, global market reach, and deep technological integration opportunities. The partnership also positions Aplo to explore licensing under Europe’s upcoming Markets in Crypto-Assets (MiCA) regulatory framework, which will standardize digital asset oversight across the European Union. Market Context: Institutionalization of Digital Assets The acquisition aligns with a broader trend of institutionalization within the crypto sector, where regulatory clarity and infrastructure maturity are becoming critical for long-term growth. Institutional investors — once hesitant due to counterparty and custody risks — are now increasingly engaging with prime brokerages, custodians, and exchanges that offer bank-grade compliance and transparent settlement processes. As Coincheck Group expands globally and Aplo strengthens its European foothold, the combined entity is poised to play a pivotal role in shaping the next era of institutional digital asset trading — one characterized by regulatory discipline, liquidity depth, and cross-border interoperability. Takeaway Coincheck Group’s acquisition of Aplo is more than a cross-border expansion — it’s a signal of growing institutional consolidation within digital finance. By merging Coincheck’s exchange infrastructure with Aplo’s prime brokerage expertise, the combined platform strengthens Europe’s role in the regulated crypto ecosystem and accelerates the convergence of traditional and digital capital markets.

Most blockchain projects live in their own echo chamber, technical, insular, and disconnected from real-world needs. Their tokens circulate within a closed ecosystem, never crossing into meaningful, everyday use. Zero Knowledge Proof (ZKP) takes a very different approach. Its foundation is built not just for blockchain users but for industries that demand privacy, verification, and trust at scale. The project’s whitepaper outlines practical use cases that extend far beyond crypto speculation. From private elections to secure medical proofs, Zero Knowledge Proof (ZKP) aims to bring utility where it actually matters. The whitelist now offers presale access to a network built to bridge blockchain with real-world impact. Why Real-World Use Matters The blockchain space is full of ideas looking for relevance. Projects launch tokens, build ecosystems, and promise disruption, yet most fail to answer a simple question: what problem do they actually solve? Without a connection to real-world issues, these systems remain limited to speculative use. Zero Knowledge Proof (ZKP) focuses on breaking that cycle. Its design addresses sectors where transparency and privacy are equally essential, not optional features. This gives the project immediate relevance in industries like healthcare, governance, and logistics. Real-world adoption drives long-term stability. Privacy tech ensures compliance readiness. Scalable architecture supports enterprise-grade applications. By solving verifiable, existing problems rather than imagined ones, Zero Knowledge Proof (ZKP) places itself in a different category. It’s not about being another blockchain; it’s about being a tool the world actually needs. Private Voting Systems Voting remains one of the most sensitive use cases for digital verification. People want assurance that their vote counts, without revealing how they voted. Traditional blockchains can’t guarantee both. Every transaction is transparent, meaning privacy takes a backseat to accountability. This is where Zero Knowledge Proof (ZKP) introduces a genuine breakthrough. Using zero-knowledge cryptography, it allows users to prove that a vote is valid without disclosing the vote itself. That means elections can be both verifiable and private, two qualities rarely found together. Proof of participation without exposure. Tamper-resistant architecture ensures integrity. Decentralized governance keeps control out of single hands. With systems like this, Zero Knowledge Proof (ZKP) opens the door for governments, universities, and organizations to run transparent elections that preserve voter anonymity, something traditional blockchains were never built to handle. Verifiable Healthcare Proofs Healthcare data is among the most sensitive forms of personal information, and sharing it securely has been a challenge for decades. Hospitals, insurers, and labs struggle to exchange medical information without risking exposure or compliance issues. Zero Knowledge Proof (ZKP) offers a solution through cryptographic validation that reveals proof without revealing the underlying data. Imagine a patient proving vaccination status or treatment eligibility without disclosing the full medical record. With Zero Knowledge Proof (ZKP), such proofs can be verified instantly while remaining completely private. Medical proofs without data leaks. Instant verification for insurers and authorities. Respects patient confidentiality while enabling interoperability. This isn’t theoretical. The underlying technology directly fits existing healthcare frameworks, bringing a new layer of trust to how health data moves, and how securely it’s protected. Confidential Supply Chain Management Global supply chains depend on trust, but transparency often clashes with corporate confidentiality. Manufacturers need to prove authenticity, compliance, and sourcing without exposing trade secrets. That’s a balance few systems have achieved. Zero Knowledge Proof (ZKP) applies its privacy-preserving proofs to fix this tension. With its architecture, businesses can validate that materials are ethically sourced or that suppliers meet safety standards, all without revealing who those suppliers are. Zero Knowledge Proof (ZKP) makes verification an act of proof, not exposure. Authenticate goods without revealing vendor details. Provide compliance proofs for audits. Reduce fraud in logistics and global trade. This form of verifiable privacy transforms supply chains into transparent yet secure systems. For enterprises that value both openness and secrecy, Zero Knowledge Proof (ZKP) offers a practical, blockchain-based bridge between compliance and confidentiality. Summing Up Blockchain’s future doesn’t belong to systems chasing hype, it belongs to solutions that solve real problems. Zero Knowledge Proof (ZKP) shows what happens when privacy and practicality meet purpose. From secure elections to verifiable healthcare data and confidential supply chains, its ecosystem represents blockchain technology maturing beyond speculation. The whitelist offers presale access to this next phase, a network designed for industries, not just investors. Zero Knowledge Proof blockchain isn’t reinventing the wheel; it’s applying proven cryptographic science to the challenges people actually face. As real-world adoption becomes the metric that matters, its relevance stands out where most projects stop short. Find Out More about Zero Knowledge Proof:  Website: https://zkp.com/ Disclaimer: This content is provided by a sponsor. FinanceFeeds does not independently verify the legitimacy, credibility, claims, or financial viability of the information or description of services mentioned. As such, we bear no responsibility for any potential risks, inaccuracies, or misleading representations related to the content. This post does not constitute financial advice or a recommendation and should not be treated as such. We strongly advise seeking independent financial guidance from a qualified and regulated professional before engaging in any investment or financial activities. Please review our full disclaimer for more details.

Talks about Solana price prediction and Litecoin price prediction are pointing to a new star, Pepeto (PEPETO). Majors like Solana and Litecoin still pull attention, but the spotlight is shifting to an Ethereum meme coin with real utility. The project has already raised more than $7 million in presale and offers an entry at $0.000000159. Analysts and high volume traders call it the best crypto to buy now thanks to meme reach, audited tools, zero fee trading, and yield. Many believe Pepeto has the 100x upside that big caps cannot repeat in 2025. With over $7 million raised, a community already above 100,000, and presale tokens at only $0.000000159, Pepeto sits among the strongest presales. It blends meme culture with working blockchain features, giving it a clear edge in a hype heavy space. So how does it compare with Solana and Litecoin, which compete for the same capital and attention? Solana And Litecoin Price Prediction: Why Upside Looks Limited Solana keeps drawing institutional and retail interest, trading now at $219.76 with a market cap of $119.39B, FDV at $133.8B, daily volume at $8.4B, and 543.27M SOL in circulation. Bulls say a breakout above $218 confirms an ascending triangle and could push SOL toward $240 or even $260, with upside potential toward $600 in a bull case by 2026. Risks remain, though. A breakdown could take SOL back to $175 or even $155, trapping the token in a $155 to $218 band. Despite strong fundamentals, another 100x run like past cycles looks highly unlikely. Litecoin shows similar fading momentum. Currently trading at $106.36 with an $8.12B market cap and 24h volume of $408M, participation looks weaker than before. Once praised as “the silver to Bitcoin’s gold,” LTC now competes with faster Layer 1s and Ethereum Layer 2s. Liquidity is thinning, enthusiasm is fading, and while Litecoin may survive as a legacy token, meaningful 2025 gains appear capped. That is why sharper money is rotating into Pepeto (PEPETO), where presale momentum and 221% staking rewards create a rare early window. As Solana and Litecoin stall, Pepeto is being tipped as the best crypto to buy now for outsized upside and faster compounding. Why The Pepeto Presale Is Dominating The Conversation Solana still runs fast, but its size makes 5x to 10x difficult from here. Litecoin has history, yet its volumes and narrative continue to fade. In markets like this, fresh momentum often follows new Ethereum based plays where liquidity and culture thrive. That is the exact lane Pepeto is building into with a utility first plan. Pepeto pairs meme energy with real tools. PepetoSwap brings zero fee trading. PepetoBridge enables secure cross chain transfers. Contracts are audited by SolidProof and Coinsult. The community already tops 100,000, whales are accumulating, and the presale has raised over $7 million. At $0.000000159 with 221% APY for early stakers, the upside starts from a much lower base than Solana or Litecoin. The real kicker is in the math. A $2,000 presale buy at $0.000000159 secures nearly 12.8 billion tokens. If Pepeto touched just 0.01% of Solana’s current price at $0.0243, that stack would be worth over $310,000. Even a fraction of that would easily beat what majors like SOL or LTC can deliver from here. For early movers, this is the kind of asymmetry that appears once per cycle. Each presale stage nudges the price higher, so timing matters. For traders seeking modest multiples in majors, Pepeto looks like the best crypto to buy now, a small cap entry with audited utility, rising demand, and a credible path to 100x if listings and adoption arrive as expected. Final Word: Pepeto Is Primed For A 100x Run Solana may stay strong and Litecoin may retain a role, but neither matches the explosive return profile driving this cycle’s meme led plays. With more than $7 million already raised, Pepeto is emerging as the standout built not only to survive 2025, but to dominate it with real products live. Pepeto is available now at $0.000000159. Do not miss the next 100x. Join the Pepeto presale today. Disclaimer Always buy Pepeto only from the official website: https://pepeto.io. Beware of scams using the project’s name. For more information about PEPETO, visit the links below: Website: https://pepeto.io Whitepaper: https://pepeto.io/assets/documents/whitepaper.pdf?v2=true Telegram: https://t.me/pepeto_channel Instagram: https://www.instagram.com/pepetocoin/ Twitter/X: https://x.com/Pepetocoin Disclaimer: This content is provided by a sponsor. 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Dormant Wallet Sends Nearly 12,000 BTC A wallet tied to Chinese Bitcoin mining operation LuBian transferred almost $1.3 billion worth of Bitcoin on Wednesday, a day after the U.S. Department of Justice moved to seize $15 billion in digital assets allegedly stolen from the group in 2020. Blockchain analytics firm Lookonchain first reported the activity, showing that a LuBian-linked wallet sent 9,757 BTC—then worth around $1.1 billion—to new addresses after three years of dormancy. Data from Arkham Intelligence later identified a second transfer of 2,129 BTC, valued at roughly $238 million, bringing the total to 11,886 BTC. Arkham said the movement matches the same amount of Bitcoin that LuBian reportedly moved to “recovery wallets” in 2020 following a major breach. At the time, the mining pool lost 127,426 BTC—then valued at about $3.5 billion—after what investigators described as one of the largest thefts ever targeting a Bitcoin mining entity. Investor Takeaway The transfer adds fresh intrigue to one of crypto’s biggest unsolved hacks, raising questions over whether LuBian-linked assets are being moved to avoid U.S. enforcement. DOJ Links $15B Bitcoin Case to Asian Fraud Network The wallet activity followed the Justice Department’s announcement of a separate case involving Prince Holding Group, a Cambodia-based conglomerate accused of laundering billions through crypto operations. Prosecutors filed a forfeiture complaint on Tuesday for roughly $14.4 billion in Bitcoin tied to the network led by Chen Zhi, the company’s founder. The DOJ said the Bitcoin is already in federal custody and will be forfeited if Zhi is convicted on wire fraud and money laundering conspiracy charges. According to the filing, Zhi and associates funneled criminal proceeds into industrial-scale mining operations, including Warp Data in Laos, its U.S. subsidiary in Texas, and LuBian in China, which ranked as the world’s sixth-largest Bitcoin mining pool in 2020. Federal investigators allege the entities used mining as a means to generate “clean Bitcoin” that appeared dissociated from criminal proceeds. The DOJ said the seized funds represent part of that operation’s output. Massive Bitcoin Holdings Could Bolster U.S. Reserve If forfeiture is approved, the seized Bitcoin could become one of the largest additions to the U.S. government’s digital asset reserves. The DOJ has previously auctioned or retained forfeited Bitcoin in Treasury-managed accounts. In March, President Donald Trump signed an executive order creating a strategic Bitcoin reserve to consolidate crypto assets seized in criminal and civil cases. White House technology adviser David Sacks said at the time the reserve would be funded with Bitcoin “forfeited as part of asset recovery proceedings.” The LuBian-related seizures could substantially increase the size of that reserve. Analysts estimate the U.S. government already controls more than 215,000 BTC, including coins linked to past enforcement actions such as Silk Road and Bitfinex. Investor Takeaway The LuBian transfers and DOJ case may tighten global scrutiny on crypto-mining operations tied to Asia, with potential market effects if seized Bitcoin enters liquidation channels. Unclear Links Between Transfers and Seizure It remains uncertain whether the wallet movements are connected to the DOJ’s seizure effort or unrelated internal transfers. Neither LuBian nor Chinese authorities have publicly commented. Analysts say the timing suggests an attempt to relocate assets before potential enforcement, though blockchain data alone cannot confirm intent. LuBian emerged during China’s 2020 mining boom before Beijing’s crypto bans shuttered most domestic operations. The pool’s collapse after the hack—and its reappearance in U.S. enforcement filings—has renewed scrutiny of how state-linked actors and private miners may have moved Bitcoin offshore to avoid tracing. The case could become a test of international cooperation on crypto asset recovery, as U.S., Chinese, and Southeast Asian authorities try to trace billions in stolen Bitcoin still circulating onchain.

Crypto exchange OKX has announced the expansion of its institutional digital asset infrastructure into the European Economic Area (EEA) through its partnership with Standard Chartered, deepening its commitment to provide regulated and secure access for institutional clients across Europe. In an official statement published on its website, Erald Ghoos, CEO of OKX Europe, said the initiative will extend the existing institutional framework into European markets. The expansion is anchored on OKX’s collateral mirroring programme, which allows institutional investors to mirror their off-exchange assets held with Standard Chartered and use those mirrored holdings for trading on OKX’s platform. “This partnership strengthens institutional trust by clearly separating execution and custody,” Ghoos said. Institutional clients can custody their assets securely off-exchange, with Standard Chartered acting as an independent, regulated custodian. This ensures transparency, compliance, and operational efficiency while supporting the growing demand for institutional-grade digital asset access in Europe. A central part of the OKX’s strategy is its MiCA (Markets in Crypto-Assets Regulation) licensing framework, which provides a regulatory foundation for serving institutions within the EEA. Ghoos emphasized that combining OKX’s MiCA-compliant exchange operations with Standard Chartered’s custody capabilities offers a complete value chain for digital assets under a trusted regulatory perimeter. The partnership is designed to address persistent institutional concerns around custody, compliance, and counterparty risk. By integrating OKX’s trading infrastructure with Standard Chartered’s banking and custody services, the model aims to give institutional clients confidence to engage with digital assets within a fully regulated and transparent environment. Margaret Harwood-Jones, Global Head of Financing and Securities Services at Standard Chartered, pointed to the importance of this framework, saying: “At Standard Chartered, this expansion is about leveraging our established custody infrastructure alongside OKX’s regulatory framework to ensure the highest standards of security and compliance for institutional clients in Europe. That’s exactly what we’re striving for—meeting the needs of institutions in a regulated and trusted environment.” The collaboration builds upon the successful pilot phase launched earlier in 2025 in the UAE, where OKX and Standard Chartered introduced a similar setup allowing tokenized money-market funds and cryptocurrencies to be used as collateral without moving assets onto an exchange. This European expansion is a major step in bridging traditional finance and crypto markets. With institutional investors increasingly demanding regulated access to digital assets, OKX’s partnership with a global bank like Standard Chartered signals a maturation of infrastructure in the sector. While specific EEA jurisdictions were not disclosed, both firms confirmed that the rollout will begin immediately and expand gradually across the region.

Anchorage Digital Bank has launched USDtb, America’s first federally regulated stablecoin, marking a historic milestone in U.S. financial innovation. Issued under the direct oversight of the Office of the Comptroller of the Currency (OCC), USDtb establishes a new regulatory benchmark for how digital dollars are created, governed, and trusted within the American financial system. The launch follows Anchorage Digital’s acquisition of Mountain Protocol and the development of the first fully compliant, turnkey infrastructure for minting, redeeming, and managing stablecoins under federal law. By onshoring USDtb, Anchorage Digital positions the U.S. as a leader in transparent, institutionally secure stablecoin issuance—a move designed to ensure that innovation remains firmly anchored within regulated finance. Issued in partnership with Ethena Labs, the transition of USDtb to Anchorage Digital Bank represents the culmination of a multi-year effort to align stablecoin operations with federal banking standards, offering institutions the security and accountability necessary for large-scale participation in the digital dollar economy. Takeaway Anchorage Digital’s launch of USDtb establishes the first federally regulated stablecoin framework in the U.S., setting a precedent for compliance, transparency, and institutional trust. Redefining Stability And Compliance In Digital Dollars USDtb is the first stablecoin to circulate under direct federal supervision, bringing stablecoin issuance into alignment with traditional banking standards. The coin’s issuance framework complies with the GENIUS Act, which provides guardrails for reserves, redemption, and transparency—offering a model for how regulated banks can safely issue digital currencies backed by U.S. Treasuries and other high-quality assets. “Today we are breaking new ground by launching America’s first federally regulated stablecoin issued from Anchorage Digital Bank,” said Nathan McCauley, Co-Founder and CEO of Anchorage Digital. “This marks a defining moment in on-shoring stablecoin innovation and advancing U.S. leadership in the digital age. Our work with Ethena Labs proves federally regulated stablecoin infrastructure is not only possible—it is the future of U.S. crypto. As the first and only federally regulated stablecoin issuer, we are proud to provide the safety, security, and regulatory compliance institutions need to participate at meaningful scale.” USDtb’s reserves are primarily invested in BlackRock’s BUIDL tokenized U.S. Treasury fund, one of the most advanced examples of tokenized real-world assets in operation. This ensures both liquidity and transparency while minimizing counterparty risk. Through this structure, Anchorage Digital Bank becomes one of the largest institutional holders of BUIDL tokens, further integrating traditional finance with blockchain infrastructure. Takeaway Anchorage Digital’s USDtb combines on-chain transparency with the safeguards of U.S. federal regulation, offering a blueprint for future stablecoin design. Industry Collaboration Ushers In A New Era Of Regulated Stablecoins The onshoring of USDtb is the result of extensive collaboration between Anchorage Digital Bank and Ethena Labs. The two firms have worked closely to ensure a seamless and secure transition of issuance rights, marking the first time a major stablecoin with a market capitalization near $2 billion has shifted to a federally regulated issuer. Ethena Labs’ Founder Guy Young said: “Onshoring USDtb in partnership with Anchorage Digital marks a pivotal moment not just for Ethena Labs, but for the future of stablecoins under U.S. oversight. Partnering with the first federally chartered crypto bank to bring USDtb to America demonstrates that innovation and regulation can advance together. This development marks a new standard for transparency and trust in digital dollars, and establishes a model for how institutional-grade stablecoins can operate within regulated financial systems.” This transition also reflects a maturing digital asset market, where institutional-grade infrastructure is required to support global scale and compliance. Anchorage Digital’s bank charter ensures stablecoin operations meet the same prudential standards as federally supervised banks, including capital adequacy, AML/CFT measures, and ongoing regulatory reporting. Takeaway By collaborating with Ethena Labs, Anchorage Digital has demonstrated how stablecoin innovation can thrive within a regulated framework—bridging crypto innovation with federal financial integrity. Anchoring The Digital Dollar In Federal Trust The launch of USDtb solidifies Anchorage Digital Bank’s position as the default partner for institutions seeking secure access to stablecoin infrastructure in the U.S. The bank now offers an end-to-end suite of regulated services, from issuance and redemption to settlement, custody, and treasury management, all built within a single compliant platform. By aligning with federal oversight, Anchorage Digital is enabling institutions to engage with the digital asset ecosystem with confidence, ensuring that U.S.-backed stablecoins retain the transparency and reliability necessary to function within the wider financial system. As stablecoins continue to underpin global payments, liquidity, and tokenized markets, USDtb’s model offers a foundation for the next generation of programmable finance—anchored in trust and accountability. Stablecoins have emerged as the connective tissue of modern finance, enabling instant cross-border transactions, real-time settlements, and programmable commerce. USDtb represents the evolution of this technology from speculative infrastructure to regulated financial backbone, combining the efficiency of blockchain with the rigor of federal compliance. Takeaway USDtb’s federal framework ensures that the digital dollar can evolve within the U.S. banking system—fast, transparent, and compliant by design. A Defining Step For U.S. Leadership In Digital Finance The onshoring of USDtb is a watershed moment for the future of regulated crypto infrastructure. It signals that the United States, through institutions like Anchorage Digital Bank, is prepared to lead the global race toward secure, on-chain financial systems. The integration of stablecoin issuance into federally supervised banking channels introduces a template that other jurisdictions may follow, balancing innovation with safety. By providing clarity around reserves, redemption rights, and regulatory oversight, Anchorage Digital Bank is reinforcing confidence in the digital dollar and ensuring that stablecoins continue to evolve under the principles of transparency and rule of law. In doing so, it strengthens America’s position as a global standard-bearer for responsible financial innovation. Takeaway Anchorage Digital’s federally regulated USDtb cements U.S. leadership in compliant digital assets, creating a model for secure and transparent stablecoin adoption worldwide.  

Cloudflare Expands Into AI Payments Cloudflare has joined forces with Visa, Mastercard, and American Express to develop authentication protocols for “agentic commerce,” an emerging sector where AI software agents execute purchases on behalf of users. The San Francisco–based firm said on Oct. 14 that it worked with Visa on a new Trusted Agent Protocol, enabling merchants to verify AI-powered shopping bots through its Web Bot Auth standard. Mastercard and American Express are introducing similar integrations for their own networks, according to a company statement. The collaboration extends Cloudflare’s growing involvement in digital payments and blockchain infrastructure. The company recently disclosed plans to issue a NET Dollar stablecoin and has partnered with Coinbase under the x402 Foundation to establish standards for machine-to-machine transactions. Investor Takeaway Cloudflare’s work with major card networks signals an early move to define how AI agents transact and authenticate online — a potential bridge between fintech and crypto rails. Building the Framework for Agentic Commerce Agentic commerce describes a category of transactions handled by autonomous AI systems that can search, negotiate, and pay for goods or services. Cloudflare said these agents will require programmable, verifiable payment channels that support real-time settlement and compliance with existing payment networks. “The future of commerce is agentic, and Cloudflare is building the trusted foundation for it,” said Stephanie Cohen, Cloudflare’s chief strategy officer. The initiative aims to align card networks, fintech processors, and blockchain issuers on shared authentication rules for AI payments. Alongside the card schemes, early partners include Adyen, Checkout.com, Circle, Fiserv, Microsoft, Nuvei, Shopify, Webflow, and Worldpay, forming a coalition of payments, software, and crypto companies developing interoperability standards for agent-led transactions. Crypto and AI Convergence Cloudflare’s push follows growing interest in merging artificial intelligence with blockchain-based financial systems. Earlier this year, Tether CEO Paolo Ardoino said he expected “one trillion AI agents” to use Bitcoin and USDT over the next 15 years. Such projections have accelerated efforts to design infrastructure that allows AI entities to hold, transfer, and account for digital assets autonomously. Cloudflare’s NET Dollar project, revealed in September, will be integrated with its identity and bot verification products to allow compliant, traceable payments between human users and AI-driven systems. The firm’s collaboration with Coinbase through the x402 Foundation is intended to establish open protocols for these interactions, including stablecoin-based micropayments. Investor Takeaway The partnership highlights how payment giants and infrastructure firms are preparing for a market where autonomous agents transact using both fiat rails and stablecoins. What Comes Next By working with Visa, Mastercard, and AmEx, Cloudflare is positioning its network as a neutral layer for verifying and routing agentic payments across both traditional and crypto systems. The Trusted Agent Protocol is expected to be introduced to developers and payment processors in early 2026, pending testing within select commerce platforms. While the technology is still in its early stages, Cloudflare’s expansion into authentication and settlement infrastructure places it among a small group of companies defining how AI-driven transactions could operate securely at scale. The partnership reflects the growing overlap between cloud networking, payments, and decentralized finance — sectors converging around the same goal of automating trust in digital transactions.

TD Cowen, a leading financial services and investment firm, has released a bullish forecast stating that tokenization could drive global on-chain capital to exceed $100 trillion within five years. According to the projection, the growth will be driven by a massive push toward real-world asset (RWA) tokenization, including securities and infrastructure.  According to Cowen analysts, the on-chain economy across tokenized assets, decentralized finance (DeFi), staking infrastructure, and on-chain liquidity is poised for accelerated growth. The firm believes that advancements in technology, regulation, and cross-border capital flows will unlock more demand for programmable, tradable financial products. Tokenization Could Be the Future of Investing The latest TD Cowen research highlights tokenization — the process of representing real-world assets like real estate, equities, and bonds on blockchain networks — as the primary potential driver. The analysts estimate that a meaningful portion of the global financial markets could gradually migrate to on-chain platforms as institutions adopt them for efficiency, transparency, and fractional access. The projection is another major highlight of how traditional capital might increasingly migrate onto blockchain rails over the coming years. One key driver is fractional ownership, which tokenization offers. For instance, tokenizing a real estate property allows the participation of many investors at lower thresholds. Combined with 24/7 settlement, lower frictions, and programmable blockchain finance, tokenized assets could attract capital currently locked in traditional or off-chain instruments. In addition, the forecast emphasizes the growing role of stablecoins, on-chain money markets, and investment-level digital securities as efficient bridges between traditional finance and decebtralized finance (DeFi). As these sectors mature, Cowen sees network effects scaling across lending, yield aggregation, and digital treasury management. What Tokenization Means For the Crypto Economy If on-chain capital truly reaches $100 trillion, the implications for finance, crypto, and regulation are profound. First, there could be a disruption of old chains, especially traditional intermediaries, such as custodians, clearinghouses, and custodial banks, who may find themselves disrupted as blockchain-native infrastructure gains popularity. Additionally, there could be a shift in regulatory frameworks, as borders, jurisdiction, taxation, and legal clarity would become critical. Regulators will need to adapt quickly to monitor cross-border token flows, custody rules, and compliance in a tokenized world. Multiple blockchains and standards would also compete for dominance, boosting on-chain economic value across the ecosystem. However, Cowen also notes that the $100T figure is less a precise prediction than a directional signal. At the end of the day, timing, macroeconomic conditions, user adoption, and regulatory clarity all remain crucial. Overall, TD Cowen’s forecast reiterates how tokenization is no longer an experimental move but a major strategic shift globally. If it becomes a reality, the movement of trillions of dollars onto blockchain could transform finance tremendously. For crypto builders, institutions, and regulators, the challenge lies in building to scale while prioritizing safety and continuous alignment to keep pace with the broader ecosystem ambition.

Brunno Huertas to Lead Tickmill’s Strategic Growth in Latin America Tickmill has announced the appointment of Brunno Huertas as its new Regional Manager for Latin America (LATAM), underscoring the broker’s long-term commitment to the region’s fast-growing trading markets. Based in Limassol, Huertas will oversee the company’s regional growth strategy, focusing on brand expansion, client engagement, and the development of Introducing Broker (IB) partnerships across both Spanish- and Portuguese-speaking countries. With more than 15 years of experience in financial markets, Huertas has played a pivotal role in building Tickmill’s footprint across South America. His new mandate expands this focus to the entire LATAM region, consolidating Tickmill’s position as a transparent and reliable broker serving an increasingly active trader base. “Latin America offers enormous potential, and our vision is to strengthen Tickmill’s presence by building strong relationships with clients and partners,” said Brunno Huertas. “Expanding our IB network and creating a trusted brand will drive sustainable growth for the region’s trading community.” Investor Takeaway Tickmill’s appointment of Brunno Huertas marks a renewed push into Latin America — a fast-emerging market for forex and CFD trading with rising retail participation. Regional Priorities: Strengthening Relationships and Market Reach Under Huertas’ leadership, Tickmill aims to deepen its regional presence through targeted initiatives that reinforce trust, accessibility, and education. His priorities include: Expanding the IB network: Providing tailored support, transparent commission structures, and localized partner engagement. Strengthening brand visibility: Launching local marketing initiatives to build awareness and trust across LATAM markets. Enhancing client relationships: Delivering client-focused services through transparency and responsiveness. Exploring new markets: Targeting expansion in Argentina, Mexico, Colombia, Peru, and Chile while consolidating existing operations in key LATAM hubs. Tickmill views the region as a long-term growth driver for the brokerage industry. With a growing population of retail traders and IB networks, Latin America offers significant potential for firms that can deliver reliable execution, local support, and competitive trading conditions. Tickmill’s Offerings: Combining Global Standards with Local Insight As part of its broader regional strategy, Tickmill will continue offering a wide range of multi-asset trading solutions. The broker provides access to Forex, CFDs on stock indices, commodities, bonds, and cryptocurrencies, all backed by fast execution, tight spreads, and access to platforms like MetaTrader 4, MetaTrader 5, and TradingView. Complementing its trading suite, Tickmill also provides: Tailored IB and partnership programs with transparent commissions and dedicated regional management. Localized client services featuring multilingual support and payment methods tailored to LATAM markets. Strict regulatory compliance and fund security to ensure confidence and stability for traders and partners alike. Education remains a cornerstone of Tickmill’s global strategy. In LATAM, the broker continues to invest in trader development by offering educational resources in Spanish and Portuguese, strengthening trader confidence through accessible content and market insights. Investor Takeaway By pairing localized expertise with global infrastructure, Tickmill aims to solidify its reputation as a broker that delivers transparency, education, and growth for LATAM traders. Looking Ahead: A Global Broker with a Regional Focus Tickmill’s appointment of Huertas highlights its focus on sustainable expansion built on long-term relationships rather than short-term market entry. His leadership is expected to bridge cultural and linguistic diversity within LATAM’s dynamic trading community while fostering local partnerships that align with Tickmill’s global values of transparency, integrity, and innovation. Huertas will represent Tickmill as a guest speaker at the Finance Magnates London Summit in November, joining the panel discussion “Educators, IBs and Regional Growth Drivers.” His participation will further highlight Tickmill’s perspective on education and partnership as key growth catalysts in emerging markets. As the broker continues to grow globally, the LATAM region stands out as a strategic frontier — one where trust, local insight, and technology-driven service will define the next chapter of Tickmill’s success story.

BitGo, the leading digital asset infrastructure firm, has entered into a strategic partnership with StableX Technologies, Inc. (Nasdaq: SBLX), a publicly traded company specializing in stablecoin assets and digital finance infrastructure. The collaboration will see BitGo Trust Company serve as the institutional-grade custodian for StableX’s digital asset holdings, while BitGo’s affiliated trading platforms will facilitate StableX’s planned acquisitions and asset diversification strategy. Securing StableX’s Expanding Digital Asset Treasury Under the agreement, BitGo will provide regulated custody, liquidity, and execution services to help StableX manage its growing digital asset portfolio. BitGo’s infrastructure — which includes cold storage custody, institutional wallets, and integrated trading solutions — will support StableX’s goal of purchasing $100 million worth of crypto tokens connected to the rapidly expanding stablecoin sector. Mike Belshe, Co-Founder and CEO of BitGo, said the partnership underscores the growing sophistication of digital asset treasury management among institutional participants: “Digital asset treasury companies are expanding into increasingly diverse asset allocations. BitGo is excited to provide the infrastructure that is designed to keep forward-looking digital asset strategies, like StableX’s, safe and compliant.” The move comes as more publicly listed companies and institutional investors explore exposure to stablecoin-related assets and decentralized finance (DeFi) opportunities — an area where secure custody and regulatory compliance are critical. Building Institutional Confidence in Stablecoin Investment Joshua Silverman, Executive Chairman of StableX, said that BitGo’s reputation as a trusted, regulated custodian made it the natural choice for the firm’s next phase of expansion: “BitGo was the clear choice because it supports our focus on solid financial management and pioneering innovation. By using a regulated, institutional-grade custodian, we’re not only improving our risk management but also positioning ourselves to responsibly leverage new opportunities in the crypto economy. This is a critical step in creating sustainable, long-term value for our shareholders.” The partnership allows StableX to enhance the security of its treasury operations while gaining direct access to BitGo’s over-the-counter (OTC) trading desk — offering deep market liquidity for stablecoin-linked and broader digital assets. This integration also supports diversification into DeFi-oriented tokens, improving capital efficiency and aligning treasury operations with market growth areas in stablecoin infrastructure and yield generation. Enhancing Risk Management and Governance The collaboration between the two firms reflects a shared commitment to compliance, transparency, and institutional governance. BitGo’s status as a regulated trust company — with licenses in multiple jurisdictions — ensures that StableX’s digital holdings are maintained within a robust legal and operational framework. For StableX, the move represents a strategic effort to professionalize its balance sheet and risk management approach in a rapidly evolving regulatory landscape. With the crypto treasury segment attracting increasing scrutiny from investors and regulators, this partnership sets a precedent for responsible asset management practices among publicly listed crypto companies. Driving Innovation Across the Stablecoin Ecosystem Stablecoins have become one of the fastest-growing segments in digital finance, with use cases spanning payments, remittances, and DeFi liquidity provision. StableX has positioned itself at the forefront of this trend by focusing on acquisition and development of stablecoin infrastructure and related technologies. The partnership with BitGo enables the company to advance its mission of building sustainable, compliant financial solutions centered on stable-value digital assets. By combining BitGo’s security and settlement infrastructure with StableX’s acquisition strategy, the two firms aim to set new benchmarks for institutional-grade management of digital assets — an area still underdeveloped in many parts of the crypto ecosystem. Takeaway BitGo’s partnership with StableX signals a broader institutional shift toward structured, compliant digital asset treasury management. As StableX accelerates its expansion into stablecoin-related investments, BitGo’s regulated custody and trading infrastructure will anchor the company’s efforts to balance innovation with security — setting a strong example for publicly listed firms entering the digital finance space.

The European Securities and Markets Authority (ESMA) has set out the European Common Enforcement Priorities (ECEP) for 2025, sharpening attention on how listed issuers connect financial and sustainability disclosures. The regulator’s focus points to three pressure fronts for preparers and auditors: the portrayal of geopolitical uncertainty in IFRS financial statements, the discipline of segment reporting, and the robustness of materiality determinations and structure under the European Sustainability Reporting Standards (ESRS). ESMA also flags persistent digital reporting errors in ESEF, particularly within statements of cash flows. European Common Enforcement Priorities For 2025 ESMA’s 2025 priorities ask issuers to explain clearly how geopolitical risks and broader uncertainties affect performance, cash flows, and financial position, and to ensure that these narratives are consistent across the management report, financial statements, and sustainability disclosures. Investors are expected to see more decision-useful analysis of sensitivities, assumptions, and transmission channels from macro and policy shocks into company-specific outcomes. Boilerplate language that ignores sector-specific exposures will attract scrutiny. Segment reporting also features prominently. ESMA emphasizes that issuers must present segments that faithfully reflect how management monitors performance, allocates resources, and assesses risk. Enforcement will concentrate on internal consistency between reported segments, alternative performance measures, and board-level reporting, as well as on transparent reconciliations and meaningful disclosures of major customers, geographic risk, and the economic rationale for any changes to segments. Connectivity across the report is a recurring theme. ESMA expects coherent links between IFRS numbers, sustainability claims, and digital tags, so that users can navigate from risk narratives to quantified impacts and back. Where companies discuss climate, supply-chain, or geopolitical headwinds in sustainability statements, ESMA will look for corresponding reflections in impairment tests, provisions, useful lives, and other IFRS estimates that would reasonably be affected. Sustainability Statements: Materiality And Structure On sustainability reporting, ESMA directs issuers to strengthen double materiality assessments under ESRS Set 1, explaining both the process and outcomes that determine what is reported and why. Companies should describe how they identify impacts, risks, and opportunities (IROs), how stakeholders are engaged, which thresholds are applied, and how material topics translate into metrics, targets, and action plans. The regulator wants users to see a defensible chain from methodology to disclosed content, not a perfunctory checklist. ESMA also points to the scope and structure of sustainability statements. Issuers should organize disclosures to reflect clear topic boundaries, avoid duplication, and ensure that cross-references are precise and accessible. Where companies rely on cross-referencing to other sections or documents, ESMA expects a navigation path that is complete, stable, and free of dead links, with the same level of assurance and governance as information embedded in the primary sustainability section. Consistency over time is another priority. ESMA expects issuers to disclose methodological changes, restatements, and data limitations with enough granularity for users to understand trend integrity. Where estimation uncertainty is high—common in value-chain data—companies should quantify ranges where feasible and explain remediation plans to enhance data quality in future periods. IFRS Focus: Geopolitical Risks And Segment Reporting In IFRS financial statements, ESMA will examine whether geopolitical developments—such as trade restrictions, tariffs, sanctions, or commodity disruptions—are appropriately reflected in revenue recognition, inventory valuation, impairment of non-financial assets, and expected credit losses. Preparers should ensure that significant judgments and sources of estimation uncertainty are updated, specific, and aligned with observed market conditions, rather than carried forward from prior periods without reconsideration. For segment reporting under IFRS 8, issuers should confirm that reported operating segments match the internal reporting reviewed by the chief operating decision maker, with reconciling items that are transparent and stable. ESMA will look closely at sudden changes to segment definitions, aggregation criteria, or performance measures, particularly where such changes have the effect of obscuring underperformance. Disaggregation should be sufficient to illuminate differing risk and return profiles. Disclosures around major customers, geographic concentration, and sensitivity to supply-chain or logistics constraints should be revisited in light of current realities. ESMA expects entities to link segment-level narratives with quantitative indicators—margins, capex, headcount, or working capital dynamics—so users can understand how shocks propagate differently across segments and what management is doing in response. ESEF Digital Reporting: Cash Flow Errors ESMA highlights recurring ESEF tagging problems, with a particular concentration of errors in the statement of cash flows. Common issues include incorrect signs and summation relationships, misuse of extension elements where taxonomy concepts exist, and inconsistent tagging between the consolidated financial statements and ESEF instance documents. These errors impair comparability and can distort automated analysis relied upon by investors and data vendors. Issuers are expected to strengthen pre-filing controls, including automated validation against the latest ESEF taxonomy, review of calculation linkbases, and reconciliation procedures that tie tagged values back to audited figures. ESMA encourages companies to involve both finance and IT functions in end-to-end dry runs and to preserve robust documentation that demonstrates how tagging decisions were made and reviewed. Where filers use extensions, ESMA expects careful anchoring to the closest standard elements and a clear justification for why extensions are necessary. Entities should minimize extensions to preserve comparability and should periodically reassess whether evolving taxonomy updates now cover previously extended concepts, thereby allowing a migration back to base taxonomy terms. What Issuers, Auditors, Supervisors Should Do Next Issuers should initiate a coordinated workplan across finance, sustainability, investor relations, internal audit, and IT to map the 2025 priorities to existing disclosures, controls, and systems. Practical steps include revisiting risk registers and sensitivities, refreshing segment reporting governance, documenting the double materiality methodology, and testing ESEF tagging with a focus on cash flow statements. Clear ownership, timelines, and board-level oversight will be essential to avoid last-minute remediation. Auditors should align their risk assessment and materiality judgments with ESMA’s focus areas, ensuring that significant judgments in IFRS and double materiality processes under ESRS receive robust challenge and evidence. Audit teams may need to deepen expertise in sustainability data processes and digital reporting controls, particularly where reliance on third-party or value-chain data introduces higher risk of error or bias. Supervisory bodies and audit committees should emphasize connectivity—pressing management to demonstrate how sustainability risks and opportunities inform financial statement judgments and how ESEF tagging faithfully mirrors audited disclosures. They should also monitor remediation of known digital reporting issues and ensure that control improvements are embedded, tested, and repeatable rather than one-off fixes. Takeaway ESMA’s 2025 agenda moves from principles to practice: articulate how shocks translate into numbers, reveal how the business is actually managed through segment reporting, and show your workings on sustainability materiality. The connective tissue between narrative, quantification, and digital tagging matters as much as the individual parts. Users expect to follow a consistent thread from risks to metrics to cash flows without contradictions. For preparers, the biggest wins will come from tightening governance around judgments, elevating the transparency of methodologies, and building durable data pipelines that serve both IFRS and ESRS needs. For auditors and supervisors, the challenge is to encourage incisive, entity-specific disclosures while resisting the drift back toward generic templates. Credibility rests on specificity, comparability, and internal consistency. Ahead of the 2025 reporting season, early action is the best risk mitigant. Issuers that invest now in double materiality discipline, segment transparency, and ESEF data quality will reduce enforcement risk, improve investor trust, and shorten the feedback loop from markets to management decisions—exactly what ESMA is signaling it wants to see.