Solana Mobile has announced the end of official support for its Saga smartphone, marking the conclusion of one of the blockchain industry’s most ambitious mobile hardware experiments. The company confirmed that as of October 2025, the Saga will no longer receive software updates, security patches, or technical assistance beyond general inquiries. This move effectively ends the phone’s two-year support lifecycle, sparking concerns among crypto users who adopted the device for its deep integration with the Solana blockchain ecosystem. Limited adoption and new product focus The Solana Saga launched in May 2023 as a flagship device built to merge Web3 capabilities directly into a smartphone experience. Despite the hype surrounding its release, adoption remained limited, with reports suggesting only about 20,000 units were sold—well below the 50,000 units Solana Mobile initially targeted. The device gained early traction primarily due to its preloaded crypto wallet and exclusive access to Solana-based decentralized applications and NFT airdrops, but mainstream success proved elusive. According to industry reports, Solana Mobile is now pivoting its focus toward a successor device called the Seeker. The company claims that early preorder numbers for the Seeker have already surpassed expectations, suggesting renewed interest in blockchain-integrated mobile hardware. The Seeker aims to address the Saga’s shortcomings by improving usability, compatibility, and long-term software support, while continuing to promote decentralized ownership and on-chain interactions. Security and longevity concerns The discontinuation of Saga support has raised red flags within the crypto and tech communities. Without regular security updates or operating system patches, Saga owners may face heightened vulnerability risks—particularly given the phone’s direct integration with self-custodial wallets and decentralized apps. Experts warn that leaving such devices unmaintained could expose users to exploits or compromised private key management. Analysts also point out that Solana Mobile’s two-year support cycle is short compared to industry standards. Major smartphone manufacturers such as Apple, Google, and Samsung typically provide five to seven years of software updates. The abrupt end to Saga support may deter users from embracing blockchain-based hardware in the future unless companies commit to longer-term maintenance and security assurances. Interestingly, the Saga’s limited production run and connection to high-value airdrops have turned it into something of a collector’s item within the Solana community. Many early adopters benefited from token airdrops linked to the Saga’s built-in wallet, in some cases recouping or even exceeding the phone’s $1,000 retail price. While the device’s functional utility may decline, its symbolic value as a piece of Solana history could sustain niche interest among crypto enthusiasts. As Solana Mobile transitions its focus to the Seeker, the company faces both opportunity and scrutiny. Its next device will need to demonstrate not just innovation, but sustainability—balancing Web3 experimentation with consumer-grade reliability. Whether Seeker can achieve what Saga could not will determine the future of blockchain smartphones and their role in the evolving decentralized economy.

Ethereum is preparing to launch the Fusaka upgrade on mainnet in early December 2025, introducing EIP-7825, a proposal that sets a per-transaction gas limit cap of approximately 16.78 million gas units. This update is designed to enhance block efficiency, prevent network congestion caused by large transactions, and pave the way for future parallel execution frameworks. The Fusaka upgrade marks Ethereum’s next step in scaling its base layer while maintaining decentralization and reliability. According to the Ethereum Foundation’s latest test reports, the Fusaka upgrade has been successfully deployed on the Holesky and Sepolia testnets, with mainnet activation expected on December 3. Developers are confident that the update will improve the performance of the network and prepare it for more advanced scalability solutions in 2026. In addition to EIP-7825, the Fusaka fork will implement around 11 Ethereum Improvement Proposals (EIPs), including EIP-7594, also known as PeerDAS, which introduces a new model for distributed data availability. Enhanced block efficiency and network reliability EIP-7825 directly targets inefficiencies associated with gas-heavy transactions. By enforcing a hard cap of roughly 16.78 million gas per transaction, Ethereum aims to prevent a single transaction from consuming an excessive share of a block’s gas capacity. This mechanism helps ensure more balanced gas allocation and smoother transaction processing across the network. For most Ethereum users, the change will not affect everyday activity, as typical transactions use significantly less gas than the new limit. However, smart contract developers and DeFi protocols that rely on batch transactions or complex operations may need to refactor their code to remain compliant. Validators and infrastructure providers will also benefit from improved block-packing efficiency, which reduces strain on nodes and enhances synchronization times. Laying the foundation for Ethereum’s next evolution The Fusaka upgrade represents more than just a technical improvement; it signals Ethereum’s ongoing shift toward modular scalability and future execution-layer enhancements. EIP-7825 and related proposals are viewed as essential building blocks for parallel transaction processing—an anticipated development that could significantly increase Ethereum’s throughput and lower latency. By improving efficiency and stability at the base layer, Fusaka strengthens Ethereum’s position as the leading smart contract platform for decentralized finance (DeFi), gaming, and enterprise applications. Analysts believe the update could enhance Ethereum’s long-term competitiveness against emerging high-performance blockchains, while also improving developer confidence in the network’s scalability roadmap. As the mainnet activation date approaches, industry participants are preparing for one of Ethereum’s most impactful upgrades since Dencun. With the introduction of EIP-7825, Ethereum continues to address scalability challenges head-on, combining technical rigor with forward-looking innovation. The Fusaka upgrade underscores Ethereum’s commitment to secure, decentralized scaling—laying the groundwork for future growth in the on-chain economy. Once activated, the update will further optimize transaction flow, improve reliability, and strengthen Ethereum’s foundation for the next generation of blockchain innovation.

YZi Labs has announced that it led a $25.5 million strategic funding round in Sign, a blockchain infrastructure company developing sovereign digital identity and payment systems. The round also included participation from IDG Capital and several other institutional investors, underscoring growing confidence in blockchain solutions designed for national-scale digital services. With this latest round, Sign’s total funding has surpassed $55 million, reflecting sustained investor interest in the company’s mission to create decentralized digital identity frameworks and data infrastructure for governments and enterprises. The funds will be used to expand Sign’s technical team, accelerate research and development, and deepen partnerships focused on real-world blockchain adoption. Driving innovation in sovereign blockchain systems Sign’s core technology enables secure and verifiable digital identity management, cross-border payment capabilities, and data sovereignty solutions tailored for public and private sector applications. The company aims to provide governments with infrastructure that balances innovation with privacy, enabling nations to operate digital ecosystems under their own regulatory and security frameworks. The investment from YZi Labs marks a continuation of its strategy to back blockchain projects that offer tangible real-world utility. Formerly known as Binance Labs, YZi Labs has shifted its focus toward infrastructure-oriented ventures that can drive mainstream blockchain adoption. Its participation in Sign’s round highlights growing investor emphasis on blockchain applications that bridge Web3 innovation with practical government and enterprise use cases. Expanding digital identity and national infrastructure As digital transformation becomes a global priority, sovereign blockchain infrastructure is emerging as a cornerstone for secure, interoperable identity systems and data management. Sign’s approach positions it at the center of this transformation, offering technology that allows nations to build decentralized yet compliant digital ecosystems. The company’s platform supports verifiable credentials, digital payments, and secure data exchange, enabling seamless interaction between citizens, enterprises, and governments. According to the company, the newly raised capital will support the rollout of pilot programs with government partners and major enterprises across emerging markets. Sign also plans to introduce new features aimed at improving scalability, interoperability, and developer accessibility within its blockchain framework. The investment round comes at a time when global interest in blockchain-based identity and infrastructure is accelerating. Governments in regions such as Asia, Africa, and Latin America are exploring blockchain technology to strengthen digital governance, improve transparency, and modernize public services. Sign’s technology aligns closely with these goals, providing secure, sovereign digital identity systems that integrate with both legacy and decentralized frameworks. YZi Labs’ involvement also signals broader investor movement toward infrastructure-level blockchain solutions rather than speculative applications. As institutional capital continues to flow into projects addressing real-world challenges, companies like Sign are expected to play a defining role in shaping the next generation of digital infrastructure. The funding underscores how sovereign blockchain solutions are transitioning from experimental to essential, offering the foundation for secure digital identity, payments, and data management in an increasingly interconnected global economy.

FSA Plans to Ease Crypto Restrictions for Banks Japan’s Financial Services Agency is considering lifting restrictions that prevent banking groups from operating cryptocurrency trading businesses and from investing directly in digital assets, according to a report by Nikkei. The change would open a market long dominated by securities affiliates such as SBI VC Trade and Rakuten Wallet. Under current rules, subsidiaries of banking groups cannot register as crypto asset providers under the Banking Act. The planned revision would allow securities units within those groups to register with the FSA, giving them access to Japan’s growing retail and institutional crypto market. The FSA’s move would place bank-affiliated securities firms on the same footing as rivals owned by standalone securities groups, potentially reshaping competition in the domestic crypto sector. Investor Takeaway The FSA’s proposal could bring Japan’s major banks into the crypto mainstream, deepening liquidity and institutional participation in a market long led by securities affiliates. Banks Could Soon Hold Crypto as Investment Assets The regulator is also weighing whether to let banks buy and hold cryptocurrencies for investment. The agency plans to revise its supervision guidelines so that digital assets are treated as investment holdings alongside government bonds and listed securities. Officials will design a framework to ensure that such investments do not threaten a bank’s balance sheet or client assets. Banks will be required to disclose risk exposures and maintain adequate capital buffers against potential losses from price swings. “Cryptocurrencies are volatile and can cause sharp investor losses,” an FSA source told local media, adding that the watchdog would require firms to clearly outline risks to retail clients before offering crypto services. Working Group to Discuss Amendments Formal discussions will begin Wednesday at the Financial System Council, an advisory body to Japan’s prime minister. The working group will study how to integrate crypto supervision into the existing regulatory framework and align it with global standards. The initiative comes amid a surge in local participation. Data from the Japan Virtual and Crypto Assets Exchange Association show that the number of active trading accounts reached 7.88 million in August, quadrupling over the past five years. The growth has prompted regulators to revisit rules that were originally designed for a much smaller market. Investor Takeaway Japan’s gradual regulatory shift reflects rising retail demand and global pressure to integrate digital assets into mainstream finance under clearer oversight. Global Context Other financial centers have moved in the same direction. Standard Chartered launched a digital asset trading service for institutional clients in July, while banks in Europe and the U.S. are exploring tokenized products and custody services. Japan’s decision to revisit its own limits signals a bid to keep pace with these developments while maintaining its cautious regulatory stance. The FSA’s policy review could mark the first step toward allowing Japan’s megabanks—such as MUFG, Mizuho, and Sumitomo Mitsui—to enter the crypto market directly. If approved, the revisions would expand the scope of regulated participants and further integrate crypto trading into Japan’s financial system.

End of a Seven-Year Experiment Kadena, a proof-of-work blockchain once pitched as Wall Street’s bridge into crypto, said Tuesday it is shutting down corporate operations, citing “unfavorable market conditions.” Its KDA token plunged more than 60%, trading below 10 cents — far from its $27 peak in late 2021, when it was briefly hailed as a scalable alternative to Ethereum. “We are tremendously grateful to everybody who has participated in this journey with us,” the team said on X. “We regret that because of market conditions, we are unable to continue to promote and support the adoption of this unique decentralized offering.” The closure ends a seven-year effort to merge enterprise credibility with decentralized architecture. For a project that once symbolized institutional interest in blockchain, its quiet exit reflects the unforgiving nature of the current crypto cycle. Investor Takeaway Kadena’s shutdown illustrates how even well-funded, technically ambitious blockchains can fade when liquidity dries up and investor focus shifts toward faster, EVM-based ecosystems. From JPMorgan to Chainweb Kadena was founded in 2019 by Stuart Popejoy and Will Martino, both veterans of JPMorgan’s Blockchain Center of Excellence. At the bank, they helped design Juno, an early internal blockchain prototype that would later inspire JPM Coin. Martino had also served as a tech lead on the SEC’s Cryptocurrency Steering Committee — a résumé that gave the project regulatory credibility few peers could match at the time. Their idea was to build a high-throughput proof-of-work network that preserved Bitcoin’s security model while scaling through parallel chains, known collectively as Chainweb. Kadena’s smart-contract language, Pact, emphasized formal verification and transparency to appeal to institutional users. When it launched, Kadena appeared well-timed — an open-source project that combined Bitcoin’s security ethos with Wall Street’s appetite for compliant infrastructure. But as newer proof-of-stake platforms gained traction, that positioning became a liability rather than an advantage. Token Economics and the Funding Arc Kadena’s design leaned heavily on long-term token economics. Out of one billion KDA, about 70% was reserved for miners, to be distributed gradually through 2139. The goal was to mimic Bitcoin’s scarcity model, but it also limited early liquidity and revenue for the company. The project raised around $15 million from backers including Multicoin Capital and other venture investors before launching its mainnet in 2019. Mining and developer activity initially picked up, but enthusiasm faded after the 2021 peak. Developers gravitated toward Ethereum Virtual Machine (EVM)-compatible networks like Solana and Avalanche, where liquidity and interoperability were stronger. By 2024, Kadena tried to reignite momentum. It hired former Wall Street executive Annelise Osborne as chief business officer, launched a $50 million grants program, and unveiled interoperability efforts with Hyperlane. Plans for an EVM layer were also floated, but trading activity remained thin and capital inflows dried up. Running Out of Runway By mid-2025, as risk appetite waned and token prices slumped, Kadena’s efforts to sustain development became untenable. The “market conditions” cited in its closure statement echo a familiar refrain across the sector — shorthand for evaporating liquidity and investor fatigue. The network itself will continue running, powered by remaining miners and community maintainers, though without a corporate sponsor. Roughly 566 million KDA remain to be mined. Unless a foundation or community-led fork intervenes, Kadena will drift into autopilot — a functioning blockchain with minimal oversight. For users, wallets and APIs tied to the company may degrade over time. Developers relying on grants or infrastructure support will need to migrate or self-fund. Without new governance, Kadena risks joining the ranks of “zombie chains” — technically alive but effectively abandoned. Investor Takeaway Kadena’s collapse reinforces the market’s pivot toward interoperability, composability, and liquidity. Pedigree and proof-of-work credentials alone no longer guarantee survival in crypto. A Cautionary Finish Kadena’s rise and fall mirror the trajectory of the post-2021 blockchain boom — heavy funding, ambitious technology, but limited staying power once retail speculation faded. It built on real engineering and institutional expertise but struggled to retain users in an ecosystem defined by DeFi liquidity and EVM compatibility. As of Tuesday, the project born from a JPMorgan lab experiment has reached its end. For a network that once promised Wall Street-grade decentralization, its closure is another reminder that in crypto, endurance often depends less on design elegance than on sustained liquidity and community energy.

SpaceX, Elon Musk’s aerospace company, has made a huge Bitcoin transaction of roughly $268 million. This is the first time the corporation has done anything with cryptocurrency in three months. Arkham Intelligence says that the money was sent to two new digital addresses, and there are no records of any other outgoing transactions.  This move follows a trend of SpaceX experimenting with blockchain from time to time, suggesting that the company is still managing its own business rather than speculating on the market or selling off its assets. Before this transfer, SpaceX’s last Bitcoin-related action was in July, when it shifted 1,308 BTC worth about $153 million. That transaction occurred after almost three years without using the wallet, which shows how careful and deliberate Musk is in managing corporate digital assets. After this most recent change, SpaceX currently owns about 5,790 BTC, which is worth about $625 million. Before the transfer, the corporation had roughly 8,285 BTC worth almost $893 million. This suggests that the company moved its holdings around rather than cutting them. Analysts believe these changes are part of SpaceX’s internal treasury restructuring to make it safer, more transparent, and better at managing risk. Analysts Don’t Believe The Rumors About A Market Selloff Even though the deal was big, industry experts say that SpaceX’s decision does not mean that the company is going to sell off. Instead, it shows how the treasury department works strategically, which is in line with best practices for protecting assets and improving accounting. SpaceX wants to improve cybersecurity while maintaining its long-term Bitcoin holdings by rotating wallets and moving funds around. One analyst said, “Elon Musk’s companies are still active in the digital asset space, but only sometimes.” The pattern of long periods of inactivity followed by large internal transfers supports the idea that the company’s involvement with Bitcoin is more about managing risk and protecting capital than trading or making money. Bitcoin is Under Further Market Pressure The transfer occurs when Bitcoin’s price is declining again. Bitcoin dropped about 3% to around $107,700 after a recent flash crash that wiped out more than $500 billion from the entire crypto market. Bitcoin is still stuck below its key exponential moving averages, indicating the market is bearish in the short term, even as geopolitical tensions are easing and equity markets are bouncing back. Technical indicators suggest Bitcoin’s main support level is at $106,202. If the price stays below this level for a long time, it might drop to $103,491. On the other hand, a break above $115,321 could resume bullish momentum, with a possible rise to $124,786. The fact that the market has recently stopped following traditional assets makes it even harder to predict where digital currencies will go in the near future. Building Up Institutions’ Trust in Crypto SpaceX’s organized approach to managing digital assets demonstrates that institutions are confident in Bitcoin as a long-term store of value, even during volatile markets. SpaceX strengthens the credibility of businesses getting involved in crypto by demonstrating strict treasury controls and avoiding asset sales when the market drops. The fact that the rise happened during a slump further shows that people believe in Bitcoin’s value. SpaceX’s sustained involvement in Bitcoin shows that the company is committed to its role in institutional finance for the long term, as more businesses add digital assets to their balance sheets.

Massive Short Trade Reopens Bearish Bets An $11 billion Bitcoin whale has reopened a major short position worth $235 million, adding fresh pressure to the crypto market as investors hedge against tariff concerns and the ongoing U.S. government shutdown. The leveraged bet, placed on Monday, suggests large holders are again positioning for potential downside after a brief price rebound. Blockchain data from Hypurrscan shows the investor entered the trade when Bitcoin was at $111,190, using 10x leverage. The position is currently facing an unrealized loss of $2.6 million and would be liquidated if Bitcoin exceeds $112,368. The whale’s move follows a similar short last week that reportedly netted about $200 million during the August market crash. Arkham Intelligence, which tracks large wallet movements, wrote on X that “the whale who made $200M shorting the Bitcoin crash to $100K has now moved $30M to Hyperliquid and is shorting AGAIN.” The address, labeled 0xb317, also shifted $540 million worth of Bitcoin to new wallets, including $220 million sent to Coinbase over the past week. Investor Takeaway The whale’s renewed short adds to mounting downside pressure as leveraged traders reposition after August’s shakeout. A move above $112,000 could trigger liquidations, while a drop below $110,000 may reignite broader selling. Leverage Returns as Market Cools The short position underlines how leverage is returning to Bitcoin markets after a volatile summer. In derivatives trading, leverage allows investors to open outsized positions using borrowed capital — magnifying both profits and losses. With Bitcoin hovering around $111,994 on Tuesday, leveraged traders remain on alert after the market’s recent 10% correction. Whales — typically defined as wallets holding over 10,000 BTC — have been active sellers since mid-August. Analysts say liquidations of long positions during the August slide helped flush out excess leverage, but short-term traders continue to dominate flows as macro uncertainty persists. “Large-scale selling from previously dormant whales capped Bitcoin’s upside,” said early investor Willy Woo, citing historical accumulation data. Whale’s Background and Onchain Moves The whale first gained attention two months ago after rotating $5 billion in BTC to Ether, briefly surpassing corporate holder Sharplink in total ETH holdings. The wallet’s activity has since become a bellwether for institutional sentiment, with each major move tracked closely by onchain analysts. According to Cointelegraph reporting, the same entity profited from Bitcoin’s sharp fall below $100,000 last week — one of the largest single profitable trades in recent months. On Monday, the trader again funneled tens of millions to Hyperliquid, a decentralized derivatives exchange that has grown popular among large holders seeking onchain leverage. The timing coincided with renewed weakness in equities and crypto as tariff uncertainty weighed on risk assets. Investor Takeaway Persistent whale shorts on decentralized platforms point to institutional hedging rather than outright speculation, a sign of caution as macro risks ripple through digital assets. Market Context: Losses Mount for New Whales While some large traders are locking in profits, others are deep in the red. Data from CryptoQuant shows new Bitcoin whales now face $6.95 billion in unrealized losses after Bitcoin fell below $113,000. “Bitcoin is trading below its average cost basis of ~$113K, leaving it with $6.95B in unrealized losses, the largest since Oct 2023,” the firm said in a post on X. This group now holds roughly 45% of Bitcoin’s total Whale Realized Cap. Even with losses mounting, analysts view the latest correction as a “healthy reset.” Glassnode reported that short-term holder supply has risen, indicating that speculative capital is once again controlling near-term flows. Analysts say the shift suggests the market is still recalibrating after months of leveraged positioning. For now, Bitcoin continues to trade below its cost basis as investors assess whether institutional accumulation will resume or whether whales will keep hedging through perpetual shorts. The whale’s re-entry, combined with $540 million in wallet transfers, has added volatility at a time when liquidity is thin and sentiment fragile.  

Jeffrey Huang, better known in the crypto world as Machi Big Brother, could lose millions of dollars as Ethereum’s price declines, putting his long bets at risk. Huang, a well-known whale and investor, has been actively increasing his Ethereum exposure through the perpetual trading platform Hyperliquid, even if the market is starting to turn bearish. ​ Increasing High-Leverage Bets During a Downturn Reports say that Huang has over 2,575 ETH, worth more than $10 million, and can use up to 25 times that amount. Lookonchain and Bitget track on-chain data that shows his position will be closed if Ethereum drops below about $3,803. ETH’s price has been under increasing pressure over the past week. It fell by around 4% over 24 hours, putting Huang’s margin account at risk. ​ Even though the market has gone down, Huang has kept adding collateral. Earlier this week, he said he would add an extra $100,000 USDC and 220,000 USDC to delay liquidation. His aggressive strategy shows he believes in Ethereum’s long-term strength, but it also makes him more vulnerable if the market keeps falling. ​ From Early Gains to Growing Pressure Machi Big Brother was one of Hyperliquid’s best traders just a few weeks ago, with total earnings exceeding $43 million. But a string of high-leverage trades and liquidations that happened one after the other have completely changed his luck. Recent transaction logs show that his positions have lost tens of thousands of dollars, and some ETH positions were forced to close when the market fell below $3,900. ​ Analysts say he lost money because he borrowed too much when the market was more volatile. Ethereum, which temporarily rose to $4,077 earlier this week, immediately plummeted back below key support levels, increasing the risk of liquidation across many accounts. How The Community Reacted and What It Means For The Market The larger crypto community has strongly condemned Huang’s hazardous bets, using his case as a clear example of the volatility of trading with high leverage. Traders can handle enormous positions with little collateral on platforms like Hyperliquid. This gives them a lot of upside potential, but it also means they are at significant risk when the market turns. ​ Whale activity like Huang’s can make market fluctuations worse. When leveraged positions are forced to sell, cascading sell-offs can push prices even lower, making the market even scarier. Analysts say that if Ethereum keeps falling, liquidation cascades could spread to other assets, putting even more downward pressure on the broader crypto ecosystem. ​ A Dangerous Place Machi Big Brother’s margin ratio remains dangerously high, close to critical levels that could trigger immediate liquidation if the price of Ethereum drops further. Huang is still known as a daring trader, but his recent losses show how risky leverage trading can be, where a few percentage points can make the difference between huge gains and huge losses.

Regional Expansion Gains Momentum Tickmill is expanding across Latin America and the Middle East through new leadership appointments and local partnerships, as global brokers look to deepen their presence in fast-growing retail markets. The brokerage said Brunno Huertas has been promoted to Regional Manager for LATAM, advancing from his previous role as Country Business Manager.Huertas, who joined Tickmill as Business Partnerships Manager for the Portuguese market, now oversees the group’s operations across Spanish- and Portuguese-speaking countries. Before joining Tickmill, he led LATAM sales at IronFX, managing introducing-broker networks and partner distribution channels — a key driver of growth in the region’s retail-trading ecosystem.The appointment strengthens Tickmill’s approach to localized engagement. LATAM remains one of the most referral-driven markets in retail FX, where educators, affiliates, and community influencers play an outsized role in client acquisition. Tickmill has spent the past two years building multilingual education platforms and affiliate programs that reflect its European and Asian strategies. Investor Takeaway Tickmill’s expansion shows how brokers are relying on local managers and education-driven networks to build trust in emerging markets where personal relationships drive growth. Finance Moves and Cross-Broker Talent Flow The firm’s internal reshuffling extends beyond regional management. Loukas Priovolos, a long-time finance executive who joined Tickmill in 2017, left earlier this year to take up a role at Deriv as Financial Reporting Manager. Over his eight-year tenure, Priovolos rose from Accounting Supervisor to Group Financial Controller, setting up two finance sub-departments and guiding the group’s reporting through several jurisdictional expansions. Tickmill’s finance function has become increasingly decentralized, mirroring how global brokers structure their regulatory entities. Its UK arm oversees much of the consolidated reporting, while the Cyprus and Seychelles entities handle retail operations in Europe, Africa, and Asia. Such internal mobility and cross-broker hiring underscore the fluid talent market within global FX and CFD firms. Oman Partnership Extends Middle East Footprint Tickmill’s latest geographic move centers on Oman, where it has entered a partnership with ProTrade Investments in Muscat. The alliance gives Tickmill a base for outreach across the Gulf and North Africa while providing localized client support in Arabic and English. The Oman office operates under ProTrade’s local license, allowing Tickmill to establish a regional presence without the overhead of a standalone branch. The Muscat setup complements Tickmill’s DFSA-recognized representative office in Dubai’s DIFC, opened in 2023. The Dubai operation does not onboard clients but serves as a hub for institutional outreach and corporate relations, adding regulatory visibility in a market where recognition often equates to credibility. Combined, the two outposts give Tickmill a dual presence in the Gulf—one for visibility, another for client access. Investor Takeaway Partnerships remain the preferred route for brokers expanding into tightly regulated or relationship-driven markets like the Gulf, where local alliances provide faster access and cultural alignment. Financial Snapshot and Outlook Tickmill’s UK subsidiary reported a modest slowdown in 2024, with trading volume falling to $136 billion from $189 billion a year earlier. Revenue slipped about 6% to £6.2 million, but profit rose as administrative expenses and internal recharge income both declined. Internal recharge fell from £2.7 million to £2.2 million, indicating a leaner cost structure and tighter coordination across business units. The company continues to operate under multiple licenses in the UK, Cyprus, and Seychelles, along with representative recognition in Dubai. Despite the lower top line, analysts see stability in Tickmill’s numbers as a sign of operational maturity, particularly as it transitions from rapid expansion to targeted regional growth. As Huertas assumes leadership in LATAM and the Oman partnership takes hold, Tickmill appears to be steering its international strategy through local expertise and measured execution. In both regions, community engagement and regulatory credibility will determine how effectively the broker can convert awareness into lasting market share.

Shares in gambling-software group Playtech plunged more than 30% on Tuesday after Stockholm-listed rival Evolution AB said it will add the U.K. firm to a U.S. defamation lawsuit, accusing a Playtech subsidiary of commissioning a covert intelligence operation that sought to damage Evolution’s reputation. The Swedish live-casino giant said new evidence from its ongoing case in New Jersey links Playtech Software Ltd., a Playtech unit, to a 2021 report that circulated among U.S. gaming regulators. The dossier alleged Evolution offered products in blacklisted jurisdictions such as Iran and China — claims regulators later deemed baseless. Playtech swiftly denied the accusation. “The suggestion that Playtech or any of its subsidiaries engaged in a smear campaign is wholly untrue,” the company said in a statement. By early afternoon trading, Playtech’s stock had cratered as much as 38%, making it the day’s biggest faller on London’s FTSE 250 index. Evolution shares rose about 1% in Stockholm. From anonymous dossier to courtroom drama The disputed dossier first surfaced in late 2021, landing on the desks of New Jersey and Pennsylvania regulators. It accused Evolution of allowing bets from sanctioned markets through intermediaries — a serious charge for a firm that supplies live-casino feeds to licensed U.S. operators. Regulators launched a preliminary inquiry but, after two years of review, closed the case in February 2024 with no action. In a public memo, New Jersey’s Division of Gaming Enforcement said investigators found “no evidence” of wrongdoing by Evolution. At the time, the dossier’s origin was unclear. Court documents filed this year show it was prepared by Black Cube, a private-intelligence company best known for its undercover tactics in corporate disputes. Evolution’s lawyers allege that Black Cube operatives secretly recorded conversations with Evolution employees and competitors in an effort to discredit the company with regulators and investors. In June, Evolution amended its lawsuit to name Black Cube as a defendant. This week, it moved to add Playtech, alleging the Isle of Man-based software provider paid the firm behind the campaign. According to filings reviewed by the Financial Times, a New Jersey judge disclosed that Playtech paid more than £1.8 million for the 2021 intelligence project. The court described the resulting report as “objectively baseless.” Rivals with overlapping ambitions The two companies compete at the top tier of the online-gaming supply chain. Evolution dominates live-dealer casino streams — roulette, blackjack, baccarat — broadcasting from studios in Latvia, Malta, and New Jersey. The group has expanded aggressively since acquiring NetEnt, Red Tiger, and Big Time Gaming, cementing its position as the industry’s largest pure-play casino technology firm. Playtech, founded in 1999 and now valued at roughly £1 billion after Tuesday’s slide, provides end-to-end gambling platforms spanning casino, poker, sports, and bingo. It runs both software and live-casino studios and was itself the target of a failed takeover by Aristocrat Leisure in 2022. Longtime chief executive Mor Weizer has faced recurring scrutiny from investors over pay and governance. A costly feud with legal and market stakes For Evolution, the court fight is about more than vindication. The 2021 allegations briefly erased billions from its market value, prompting temporary freezes in certain U.S. integration deals until regulators completed their checks. Evolution argues the smear was deliberate and caused measurable harm to its share price and reputation among U.S. licensing authorities. If the case proceeds, it could set a precedent on how far gaming suppliers can go in using private investigators or intelligence firms in commercial rivalries. Lawyers following the matter say the evidence phase — expected in early 2026 — could expose internal emails, invoices, and communication chains between corporate officers and contractors. Meanwhile, both companies are under pressure to reassure investors. Playtech is down nearly 40% in 24 hours; Evolution, up slightly, has reminded shareholders that U.S. regulators have already cleared it.

Cybersecurity researchers at Google’s Threat Intelligence Group (GTIG) have uncovered a sophisticated hacking campaign by a North Korean state-linked group exploiting public blockchains to host malware through a method called “EtherHiding.” The attackers are believed to have stolen approximately $2 billion in cryptocurrency this year through this technique. The campaign, attributed to the threat actor cluster UNC5342, targets developers and crypto employees by luring them with fake job offers and coding tasks. Victims download files that load a JavaScript payload, which then interacts with smart contracts on the Ethereum and BNB Smart Chain to retrieve further malicious code — all without leaving visible traces on‐chain. The EtherHiding Malware and Its Danger According to Google, EtherHiding allows attackers to embed malicious instructions inside smart contracts that remain immutable and publicly accessible, thereby turning blockchain infrastructure into a decentralized platform that malicious actors can command and control. The infection chain begins with a compromised website, often a job-recruitment bait for crypto developers. Once the victim downloads and runs a script, it uses a read-only blockchain call to fetch the next malware embedded inside a smart contract. That leads to the installation of a backdoor that enables long-term remote access to the victim’s device and crypto wallets.  Victims, often developers and crypto employees, were tricked through fake job offers or coding tasks. Once a victim downloaded the booby-trapped files, JavaScript payloads connected to blockchain smart contracts to fetch additional malicious instructions without leaving obvious traces on the blockchain. This allowed the attackers to bypass traditional defenses while maintaining operational stealth. Because the smart contracts are immutable, conventional security solutions like server takedowns or URL blocking don’t work. Attackers can update the code, making the attack infrastructure resilient and persistent. Google’s Malware Hunt Reinforces The Need For Strong Security  Google and its team have uncovered another vulnerability within the crypto ecosystem, especially via decentralized finance (DeFi) and smart contracts.  For institutions and corporate treasuries holding crypto assets, the risk is broader than just exchange hacks or smart-contract bugs because malware embedded via blockchain calls presents an under-the-radar supply‐chain risk.  Until now, many crypto entities have focused on code audits and wallet security, but may now need to add endpoint protection, supply-chain vetting, and blockchain transaction forensics. If hackers can hide command-and-control infrastructure inside smart contracts, then even regulated asset managers or custodians may face stealth exposure, which could erode confidence in institutional crypto adoption. Overall, the Google-revealed DPRK campaign using EtherHiding turns a new page in crypto risk. It sends a signal that public blockchains are no longer just assets to steal from, but also infrastructure that attackers can weaponize. As digital assets scale with institutional adoption, the industry must adapt to the ever-growing threat within the crypto ecosystem or risk becoming the next stealth funding channel for cybercrime.

Political upheaval in the US is starting to have a significant impact on investor sentiment, creating widespread market uncertainty. With tensions rising between the Trump administration and China over tariffs and political strife at home, the financial markets are becoming more volatile again. Investors looking for a safe place to put their money are increasingly thinking about how much risk they want to take on with cryptocurrencies and digital asset funds. When President Donald Trump confirmed a 100% tariff on Chinese goods, it set off a chain reaction in financial markets around the world. The news that sparked fears of a full-blown trade war triggered one of the most significant crypto liquidations of 2025, wiping out more than $500 billion in market value in just one weekend. Trump later changed his mind, but the damage to investor trust had already been done, sending shockwaves through the crypto ETF market. Funds Exiting Bitcoin and Ethereum ETFs Exchange-traded funds (ETFs) that are linked to Bitcoin and Ethereum have shown signs of the political unrest that followed. Market data shows that U.S. spot Bitcoin and Ether ETFs recorded net outflows of about $755 million after the announcement. Bitcoin ETFs alone saw more than $326 million in withdrawals, including large withdrawals from issuers like Grayscale’s GBTC and Bitwise’s BITB. Ethereum ETFs did even worse, with a net outflow of $428 million—their second-largest withdrawal event since they started. Investors in BlackRock’s ETHA fund withdrew $310 million in a single day, suggesting institutional investors are becoming more cautious. Analysts say the money leaving the market is due to traders becoming less willing to take risks and rearranging their portfolios in anticipation of further economic and political shocks. Vincent Liu, CIO at Kronos Research, said that the current situation is like “post-liquidation caution,” with many institutions choosing to wait on the sidelines until the economy becomes clearer. Presto Research research associate Min Jung said that the outflows are “short-term institutional risk management rather than a structural shift in sentiment.” She also predicted that ETF flows could stabilize if volatility calms. Wider Effects on How Investors Feel The heightened political tension has widened the gap between institutional optimism about digital assets and short-term caution driven by macroeconomic risks. Investors are keeping a tight eye on how the Biden White House and the Federal Reserve handle a situation that is becoming increasingly complicated by the day, with trade tensions, fiscal pressure, and rising prices all at play. Analysts say institutional investors may keep reducing their risk exposure, especially in crypto-linked products, until people feel more confident about Washington’s policy direction. The larger crypto market still has a long way to go to return to normal, with Bitcoin trading below recent highs and Ether struggling to sustain robust inflows. Outlook: Cautious Hope in The Face of Change Market analysts are still cautiously hopeful, even though the current wave of ETF outflows shows that confidence is rattled. The widespread use of digital assets by prominent asset managers and companies is growing, suggesting a favorable long-term outlook for institutions. But because of ongoing global tensions and a volatile U.S. political scene, the near-term direction of crypto markets will largely depend on how swiftly calm returns to Washington.

Given the strength of the nearby support level 0.7870 and the strongly bullish US dollar sentiment seen across the FX markets today, USDCHF currency pair be expected to rise to the next round resistance level 0.8000.   USDCHF reversed from support level 0.7870 Likely to rise to resistance level 0.8000 USDCHF currency pair recently reversed up with the daily Japanese candlesticks reversal pattern Hammer from the support area between the strong support level – 0.7870 (which has been reversing the price from June, as can be seen from the daily USDCHF chart below) and the lower daily Bollinger Band. The upward reversal from this support zone stopped the earlier minor impulse wave iii – which belongs to the impulse wave 3 of the intermediate downward impulse wave (3) from the start of May. Given the strength of the nearby support level 0.7870 and the strongly bullish US dollar sentiment seen across the FX markets today, USDCHF currency pair be expected to rise to the next round resistance level 0.8000. The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff. The information does not constitute advice or a recommendation on any course of action and does not take into account your personal circumstances, financial situation, or individual needs. We strongly recommend you seek independent professional advice or conduct your own independent research before acting upon any information contained in this article.

Tether, the issuer of the world’s dominant dollar-backed stablecoin, says it now has half a billion users — a milestone that would make it one of the most widely used financial products on earth. “USDT reached officially 500 million users,” chief executive Paolo Ardoino wrote on X. “Likely the biggest financial inclusion achievement in history.” There’s no breakdown for how that number was calculated — and Tether didn’t respond to requests for clarification — but even if the figure folds in exchange accounts and third-party wallets, the scale reflects how deeply USDT has embedded itself in global crypto trading and cross-border finance. Tether’s USDT token sits at the center of the digital-asset economy. The total supply stands at $182 billion, according to The Block, dwarfing Circle’s USDC, which has around $75 billion in circulation. In many emerging markets — from Turkey to Nigeria to Argentina — USDT is used as a digital dollar substitute for savings, commerce, and remittances. The company’s growth has turned it into a quiet powerhouse of global liquidity. Tether’s reserves include more than $127 billion in U.S. Treasuries, making it one of the largest private holders of U.S. government debt. Rising interest rates transformed the company’s model: interest earned on those securities helped generate nearly $5 billion in quarterly profit earlier this year, more than Goldman Sachs made in the same period. Big Money and Bigger Valuations Tether’s expansion has caught Wall Street’s attention. Bloomberg reported that the El Salvador–based firm is in talks to raise as much as $20 billion at a $500 billion valuation, potentially putting it in the same league as SpaceX and OpenAI. The deal is said to be advised by Cantor Fitzgerald, a Tether shareholder and one of the brokers managing its U.S. Treasury portfolio. Such a valuation would make Tether one of the most valuable private financial companies in history — a remarkable turnaround for a firm once dismissed as a regulatory risk. Tether today is more than a stablecoin shop. In 2024, it reorganized into four divisions — Tether Finance, Tether Data, Tether Power, and Tether Edu — as part of a broader plan to expand into energy, mining, and technology infrastructure. The company has funded Bitcoin mining operations in Latin America, acquired stakes in energy projects, and backed data initiatives aimed at real-time blockchain analytics. It has also launched educational programs promoting blockchain literacy in developing economies — a pitch that dovetails with Ardoino’s vision of “financial inclusion through programmable money.” A U.S. Push Later this year, Tether plans to debut USAT, a dollar-backed stablecoin designed specifically for U.S. customers under the country’s new federal framework for payment stablecoins. The new structure, introduced under the GENIUS Act, could provide a path for Tether to enter the regulated American market after years of operating offshore. Former U.S. congressman Bo Hines has been tapped to head the U.S. entity, signaling that the company is courting a more formal relationship with regulators. Despite its profits and market dominance, Tether’s transparency still draws criticism. The company releases attestations of its reserves every quarter, verified by BDO Italia, but has never completed a full audit. In 2021, it paid $18.5 million to settle with the New York attorney general over past reserve disclosures, followed by a $41 million fine from the CFTC. Ardoino insists a Big Four audit is in progress, though no timeline has been announced. Even skeptics concede that Tether’s role in global finance is now undeniable. USDT is the de facto settlement layer for crypto trading, the remittance medium for millions in unstable economies, and a stealth buyer of U.S. debt. Its critics call it opaque; its defenders call it indispensable. If the rumored raise materializes, Tether could become the first crypto-native firm valued in the half-trillion-dollar range — a staggering figure for an issuer that began as a niche dollar token a decade ago. As Ardoino put it: “Programmable money is the ultimate social network — a peer-to-peer construct that transports both information and value.” Whether regulators share that enthusiasm will determine how far Tether’s next chapter can go.

Das Calls for Faster Action on Tokenized Assets Bivu Das, Managing Director of Kraken UK, said Britain must accelerate regulatory clarity around tokenized assets and stablecoins or risk losing ground to rival financial hubs. Speaking at Zebu Live in London on Tuesday, Das said the UK remains one of Kraken’s largest markets globally but warned that policymakers need to “move faster.” Das described the UK’s consultative approach as “the right one,” but said regulators should allow firms to test new products such as tokenized securities in the market more quickly. “We need to be brave on the things that we know will make a difference,” he said. “Maybe there’s light at the end of the tunnel to do this relatively quickly.” He pointed to Kraken’s rollout of xStocks in the European Union earlier this year — a tokenized asset product not yet available in the UK — which he said was attracting millions in daily inflows. The product lets investors gain exposure to listed equities through blockchain-based wrappers, a format Das described as “a stepping stone to something super interesting.” Investor Takeaway Kraken’s UK chief says regulators must give firms room to innovate with tokenized assets or risk seeing capital and talent flow to more agile markets. Regulators Face Industry Pressure Das said the Financial Conduct Authority (FCA) had shown willingness to engage with the crypto industry, but the Bank of England remained “less open to experimentation.” He cited its proposal to cap corporate stablecoin exposure — a measure some industry players see as an effective ban on institutional use. The call for speed comes amid political change. Das noted that momentum on crypto regulation, which had picked up under the previous Conservative government, slowed after the 2024 snap election and must restart under the new Labour administration. “Interest rose briefly before stalling,” he said, adding that education and dialogue remain essential to getting policy right. Despite the delays, Das said the UK now has a clearer roadmap toward comprehensive crypto oversight, covering custody, trading infrastructure and cross-border liquidity — areas he said had been overlooked by traditional regulators. “These are the nuts and bolts of market structure,” he said. “We just need to move faster.” Kraken’s UK Market and New Neobank Push The UK remains Kraken’s second-largest market outside the United States, and the exchange continues to expand despite tighter local promotion rules. Das said roughly 20% of UK adults now own crypto, calling it “pretty significant” given recent restrictions on advertising and financial promotions. Kraken recently launched Krak, a neobank-style app that combines trading with payments and banking features. The app will include debit cards for UK and European users, allowing them to receive salaries, make cross-border transfers, and earn stablecoin yields. Das said the goal is to give customers “new ways to interact with crypto beyond traditional trading.” The company also revamped its consumer app to make onboarding easier amid increased retail demand. While tokenized stocks remain unavailable in the UK, Kraken continues to prepare for a future in which blockchain-based financial products are integrated into mainstream banking systems. Investor Takeaway With new products like Krak and xStocks, Kraken is positioning for a regulated tokenization era — but says the UK must move faster to stay competitive. Industry Resilience After Market Turbulence Reflecting on the October 10 market crash and liquidations, Das said the industry showed greater resilience than in previous downturns. “If you had the same thing five years ago, you’d have seen the failure of a number of institutions,” he said. “The market now has more longevity and strength than it used to.” Kraken’s focus on regulatory engagement and infrastructure development mirrors a broader trend among global exchanges seeking stability ahead of the next growth cycle. Das said the exchange continues to meet regularly with UK regulators and political figures to build understanding around digital assets, even as other jurisdictions such as the EU and UAE move faster to adopt rules for tokenized markets. “The UK has the expertise, the demand, and the market depth,” Das said. “What it needs now is the speed.”

A coalition of crypto, fintech and retail industry groups is pressing the U.S. federal government to defend the open banking rule from the Consumer Financial Protection Bureau’s (CFPB), warning that major banks’ efforts to impose data-access fees and narrow data-sharing rights could stifle innovation in digital assets, wallets and stablecoins. The groups collectively argue that the proposed rule under Section 1033 of the Dodd‑Frank Wall Street Reform and Consumer Protection Act is crucial for consumers’ ability to control and share their financial data with third-party services. These include crypto exchanges, stablecoin providers and fintech apps. The letter to the CFPB highlights fears that banks’ pushback threatens to sever the link between the traditional financial system and the emerging crypto ecosystem. The Open Banking Rule and Its Ongoing Attack The open banking rule currently under review by the CFPB would allow consumers to authorize third-party services to access their bank transaction data through secure APIs. This framework is seen as essential for enabling seamless integration between traditional bank accounts, crypto wallets, and fintech applications. However, the banking industry has raised objections. Some banks argue that opening up consumer data comes with significant costs and risks, and have begun exploring fees for data aggregators and third-party fintech services. The coalition warns that if banks succeed in imposing these fees or narrowing who qualifies as a “consumer representative,” the open banking rule’s benefits could be undermined. For crypto firms, open banking rules are about more than data access. They’re about interoperability between bank accounts and digital asset platforms. The coalition warns that banks charging for data access could cut off stablecoins and wallets from the U.S. financial system. Fintech companies similarly argue that without uninhibited data sharing, they lose the ability to innovate and compete, potentially leaving U.S. consumers behind other jurisdictions where open banking is already implemented (such as the U.K., Brazil and Singapore). The issue has also become political. Advocacy groups say that banks’ efforts to limit data sharing undermine the broader agenda of U.S. financial innovation, especially as the government promotes digital asset infrastructure and payment innovation. Impact on Crypto and the Broader Financial Ecosystem A robust open banking rule could create smoother on-ramps for retail and institutional users between traditional finance and crypto platforms. That means easier integration of bank deposits into wallets, stablecoin purchases, and on-chain services to enhance the utility and reach of digital assets. Conversely, if banks succeed in imposing access fees, the cost of data sharing may raise barriers for fintechs and crypto firms, slowing innovation and potentially driving U.S. firms to relocate or scale offshore.  Overall, the clash over the CFPB’s open banking rule has turned into a broader battleground between legacy banks, fintechs and crypto platforms. How the rule comes out will shape the future of data sharing, innovation and digital-asset integration in the U.S. financial system.

Picture the money in your wallet becoming completely digital while keeping the same value, trust and backing of your government. That’s the idea behind Central Bank Digital Currencies (CBDCs). They’re simply your nation’s conventional money, now created and managed by the central bank in a secure system. The idea is that instead of relying only on cash or commercial bank deposits, the public can also hold and use central bank money in digital form. Most people already use some form of digital money when paying with a card, mobile wallet, or online transfer. In those cases, the records are managed by private banks. With a CBDC, the central bank becomes the direct issuer of digital money. Key Takeaways • A CBDC is a digital form of a country’s fiat currency, created and controlled by the central bank. • It aims to combine the safety of central bank money with the convenience of digital payments. • There are two broad types: retail CBDCs (for consumers and businesses) and wholesale CBDCs (for banks and financial institutions). • Benefits include greater financial inclusion, lower transaction costs, and more direct monetary policy tools. • Risks around privacy, cyber security, and financial stability must be managed carefully. Types of CBDCs Since it has been established what CBDCs are, there are two main types that serve different purposes. These are retail CBDCs and wholesale CBDCs. Retail CBDC refers to digital money that individuals and businesses can use for everyday payments. It works just like cash but exists in digital form, allowing people to send and receive money directly and securely. Wholesale CBDC is designed for financial institutions. It supports large transactions, interbank settlements, and clearing processes. While it doesn’t directly affect the average user, it plays a vital role in making the overall financial system faster, more efficient, and more secure. Benefits of CBDCs 1. Increased Efficiency Transactions that currently require multiple intermediaries could be simplified. This efficiency can reduce costs and speed up payment systems, especially across borders. 2. Safe and Stable Digital Money Unlike private cryptocurrencies, CBDCs are stable and backed by a government. They carry no credit risk because they are backed directly by the central bank rather than by any private institution. 3. Improved Policy Tools Central banks can better monitor and manage inflation, liquidity, and money flows in real time. They could also introduce innovative policy measures like negative rates, interest on CBDC holdings, or conditional transfers. 4. Financial System Resilience In times of crisis, access to central bank digital money can act as a safety net. Even if private banks fail or systems break down, people will still have a stable means of payment. 5. Cross-border and Remittance Cost Reduction By linking CBDCs across borders, payments can settle faster and with fewer fees. This is especially beneficial for remittances and global trade. Challenges and Risks 1. Privacy Concerns If every transaction is traceable, people could lose anonymity in daily spending. That raises concerns about surveillance, misuse, and civil liberties. 2. Cybersecurity and Operational Risks A CBDC system becomes a high-value target for hackers. Ensuring resilience, redundancy, and defense against attacks is critical. 3. Disruption to Banks If people shift funds from bank deposits to CBDC, commercial banks may lose funding and face liquidity stress. That could hamper lending and banking business models. 4. Complexity and Cost Building a robust, scalable CBDC infrastructure is expensive and technically complex. Maintenance, upgrades, and user support will become ongoing burdens. Who Has Launched or Tested CBDCs? Many central banks are actively considering digital currency. As of now, a handful of countries have fully launched a retail CBDC, such as the Bahamas, Nigeria, and Jamaica. Over 90 percent of central banks globally are investigating or piloting CBDC systems. Some examples of active development include: • China: The digital yuan (e-CNY) is under extensive testing and limited domestic use. • India: The digital rupee (e-rupee) is in pilot stages and expanding transaction capabilities. • Russia: The digital ruble is being developed to coexist with existing currency forms. • European Union: The European Central Bank is preparing a digital euro as a complement to cash in the Eurozone. Conclusion A central bank digital currency(CBDC) represents a fundamental shift in how money functions in the digital age. CBDCs offer opportunities for greater financial inclusion, improved efficiency, and more direct policy tools, but they also bring challenges around privacy, stability, and trust. As more countries consider or launch CBDCs, the success of these efforts will depend not just on technology, but on careful design, clear regulations, and public confidence. Gaining an understanding of CBDCs today can help individuals stay informed and make smarter decisions as digital finance continues to grow.

Record Quarter Driven by Trading and Treasury Gains Galaxy Digital reported the strongest quarter in its history, with profit up 1,546% to $505 million, lifted by record trading volumes, treasury inflows, and early returns from its artificial-intelligence infrastructure business. Core earnings rose to $629 million from $211 million in the prior quarter, while total assets increased 27% to $11.5 billion, according to the company’s report on Tuesday. Galaxy added $4.5 billion in new digital-asset-treasury mandates, pushing platform assets to $17 billion. The surge in inflows and trading activity helped the firm capitalize on renewed institutional appetite for crypto exposure amid a wider rebound in digital markets. Founder and CEO Mike Novogratz said the results reflect eight years of building across both digital-asset markets and physical infrastructure. “We’re half a data-center company and half a digital-assets company,” he told investors. “Helios is the cornerstone of our future.” Investor Takeaway Galaxy’s results highlight the growing convergence of crypto finance and AI infrastructure — two of the fastest-growing segments in digital markets. Helios Pivot Pays Off The company’s 800-megawatt Helios campus in Texas, once among North America’s largest bitcoin mines, is being converted into an AI-compute facility under a long-term lease with CoreWeave. Galaxy has closed $1.4 billion in project financing for the first phase and raised another $460 million this month to accelerate the conversion. Revenue from Helios is expected to start contributing in the first half of 2026. Novogratz’s bet on AI infrastructure has gained traction following BlackRock and Nvidia’s $40 billion acquisition of Aligned Data Centers last week, which valued power capacity roughly 160% higher than comparable bitcoin miners. The deal validated Galaxy’s pivot away from mining toward higher-margin AI infrastructure. “Helios is now fully financed and leased,” Novogratz said, calling it a long-term engine for cash flow. The company’s shift aligns with a broader market trend that sees data-center power and compute capacity as strategic assets in the AI economy. Breakout in Trading and Asset Management Galaxy’s digital-assets division generated $318 million in adjusted gross profit, helped by a 140% surge in trading volumes and a single $9 billion bitcoin transaction executed for a client. The asset-management business also expanded rapidly, with inflows concentrated in institutional treasury programs. CFO Chris Ferraro described the period as “a breakout quarter for Galaxy,” citing record results across trading, investments, and infrastructure. The company ended the quarter with $1.9 billion in cash and stablecoins and $3.2 billion in total equity, positioning it to scale both its trading and infrastructure units. Galaxy’s diversification across market cycles — combining digital-asset management with real-world compute investments — gives it a footprint few crypto-native firms have achieved. Investor Takeaway Galaxy’s earnings surge reflects institutional capital returning to crypto and the market’s revaluation of data-center assets as AI demand drives infrastructure scarcity. Stock Reaction and Market Outlook Shares of Galaxy climbed to a record high of $44.30 following the results before easing to around $42, data from The Block showed. The stock remains up more than 330% since April, when it traded below $10. Analysts say investors are responding to the firm’s dual exposure to digital assets and AI-driven infrastructure, two sectors that continue to attract institutional allocations. Galaxy’s next test will be translating its AI buildout into steady income as Helios comes online in 2026. For now, the company’s performance cements its status as one of the few hybrid players linking blockchain finance with real-world compute demand — a mix Wall Street appears eager to back.

KEY TAKEAWAYS Whale accumulation has risen by 3.8%, reflecting strong confidence in Chainlink’s long-term potential. Reduced LINK supply on exchanges limits sell pressure and supports bullish momentum. Chainlink’s CCIP protocol boosts cross-chain adoption, driving greater demand for LINK tokens. The staking v0.2 upgrade improves liquidity and rewards, encouraging long-term holding. Investors should watch the $15.50–$16 support zone for accumulation opportunities.   Chainlink (LINK) has recently been showing signs of a bullish reversal after a significant drop, with whales accumulating the token near a key resistance level. Despite a 7.5% price drop over the past week and being down roughly 36% from its year-to-date high, the rising accumulation by large holders suggests a potential uptrend that could push the price towards $25 or higher in the near term. Whale Accumulation and Market Sentiment Whales have notably increased their holdings over the past few days, reducing the supply of LINK on centralized exchanges by about 3.8%, indicating a shift toward self-custody. This behavior is typically bullish as it limits immediate sell-side liquidity and suggests confidence in the project’s prospects.  Over the past few weeks, LINK’s price has tested the $14–$15 range multiple times but has struggled to break out decisively. However, on-chain metrics show that wallets holding more than 100,000 LINK have increased their balances significantly, signaling growing confidence among deep-pocketed investors. Historically, similar accumulation periods have preceded major bullish breakouts in Chainlink’s price. If LINK can hold above $15.50, analysts believe it could quickly accelerate toward $18 and potentially $25, where long-term holders may start taking profits. Additionally, on-chain data reveals over 800,000 LINK tokens were accumulated during recent dips, signaling strong support around the $16 to $18 price range. Why Whales Are Buying Chainlink Now Chainlink’s recent accumulation trend reflects more than just speculative interest; it’s a strategic play based on the project’s strengthening ecosystem. The Chainlink platform continues to expand its role as the go-to oracle solution for decentralized finance (DeFi), gaming, and real-world asset tokenization. One major catalyst is the growing adoption of Chainlink’s Cross-Chain Interoperability Protocol (CCIP), which enables secure data and token transfers between different blockchains. As more developers and institutions rely on CCIP to connect on-chain and off-chain systems, demand for LINK tokens naturally rises, since LINK is used to pay for oracle services. In addition, the steady expansion of real-world asset (RWA) tokenization partnerships where Chainlink acts as the data bridge for tokenized bonds, real estate, and commodities has strengthened investor confidence. This growing utility provides a solid foundation for long-term value appreciation, explaining why whales view current prices as an attractive entry point. Chainlink’s Expanding Role in DeFi and Beyond Beyond price charts, Chainlink’s growing influence in the blockchain ecosystem is hard to ignore. Its oracle network secures billions of dollars in value across DeFi protocols by providing verified, tamper-proof external data such as price feeds, weather information, and identity credentials. As blockchain applications mature, accurate and reliable off-chain data becomes critical, and Chainlink is leading that evolution. In 2025, its continued integration with major blockchains like Ethereum, Polygon, and Avalanche, alongside partnerships with enterprise giants exploring tokenized assets, reinforces LINK’s long-term relevance. Furthermore, Chainlink’s staking program has drawn strong participation from retail and institutional holders alike. The new Staking v0.2 upgrade, which improves liquidity and scalability, incentivizes long-term holding by offering yields while securing the oracle network. This has further reduced LINK’s circulating supply, adding upward pressure on price. Fundamental Strength and Resilience Chainlink has been in the spotlight again, largely due to its decentralized oracle services remaining fully operational during a significant Amazon Web Services outage, highlighting its robustness compared to centralized infrastructure. Its partnerships with major financial institutions such as Swift, DTCC, Euroclear, and a U.S. Department of Commerce pilot project further demonstrate institutional trust and expansion. Chainlink currently dominates the oracle market with about 68% market share by total value secured, cementing its position as the go-to oracle provider. Analysts’ Predictions: Is $25 Within Reach? Several analysts believe that a move toward $25 is plausible if Chainlink maintains its current momentum. Technical models suggest that once LINK decisively breaks past the $16–$17 resistance range, the next major target lies near $21. Beyond that, $25 marks a psychological and technical resistance zone that could attract profit-taking. Market watcher Ali Martinez recently noted that whale wallet LINK accumulation historically precedes 30–40% price rallies for Chainlink. If history repeats, LINK could surge past $25  in the near term, aligning with Crypto. News’ 35% upside projection. However, analysts also caution that LINK must maintain volume strength during its next rally. Without sustained buying interest from both whales and retail traders, the price could face sharp corrections. Still, as long as LINK holds above its 200-day moving average, the long-term trend remains decisively bullish. What Should Investors Do Now? Investors eyeing Chainlink should focus on key support and resistance zones before entering new positions. A confirmed breakout above $16 could mark the start of a strong upward move, while any dip toward $13 might offer a favorable accumulation opportunity for long-term holders. Risk management remains critical, especially since crypto markets often exhibit sharp pullbacks even within bullish trends. Traders should also monitor on-chain activity, particularly whale transactions and staking participation, as these are reliable indicators of future market direction. Those with a long-term outlook might consider dollar-cost averaging (DCA) into LINK, given its expanding real-world use cases and partnerships that extend far beyond DeFi speculation. Risks and Downside Considerations If LINK fails to maintain support above $16.47, the 38.2% Fibonacci level, the bullish structure could be invalidated, exposing the token to further downward pressure. Volatility remains a risk given the broader market conditions and recent price fluctuations. Traders are advised to monitor volume and exchange outflows closely to confirm breakout strength or signs of weakness. Chainlink Poised for a Breakout: Whales, Fundamentals, and Technicals Align The recent surge in whale accumulation around key resistance levels signals growing confidence in Chainlink’s long-term potential. With strong fundamentals, increasing cross-chain integrations, and technical indicators aligning, LINK appears well-positioned for a potential breakout toward the $25 mark. While short-term volatility may persist, Chainlink’s role as a critical infrastructure layer for decentralized data continues to strengthen. For investors seeking both utility and upside potential, LINK remains one of the most compelling mid-cap cryptocurrencies in the 2025 market. If momentum continues and key resistances break, Chainlink’s next stop could indeed be $25 and possibly higher. FAQ Why are whales accumulating Chainlink (LINK) now? Whales are buying LINK because of its strengthening fundamentals, which expand real-world asset partnerships, increase CCIP adoption, and reduce supply on exchanges, which often precede price rallies. What price levels should investors watch for Chainlink? Key support lies near $15.50–$16, while resistance sits at $18, $21, and $25. A confirmed breakout above $17 could trigger a strong upward move. How does the CCIP protocol impact Chainlink’s value? Chainlink’s Cross-Chain Interoperability Protocol (CCIP) allows secure data and token transfers across blockchains. Growing CCIP adoption increases the utility and demand for LINK tokens. What role does Chainlink play in the DeFi ecosystem? Chainlink provides reliable, tamper-proof data (like price feeds and identity verification) for decentralized applications, securing billions in DeFi value across networks like Ethereum and Polygon. Is Chainlink’s staking program influencing its price? Yes. Staking reduces the circulating supply of LINK and incentivizes long-term holding, creating upward price pressure while enhancing network security. Could LINK realistically reach $25 soon? Analysts believe it’s possible if Chainlink sustains momentum above $17 and maintains volume strength. Whale accumulation and strong fundamentals support this outlook. What are the main risks to Chainlink’s bullish scenario? A failure to hold above $16 or a sharp market-wide downturn could invalidate the bullish setup. Crypto volatility and liquidity shifts remain key risks.

KEY TAKEAWAYS Crypto is taxable property. Every sale, trade, or income-generating event has potential tax implications. Use crypto tax software to automate data collection, cost basis calculations, and tax form generation. Reconcile wallets carefully to prevent double-counting or missing transactions. Stay updated on evolving regulations in your country, as crypto tax laws are tightening globally. Consult a crypto tax professional for complex cases or large portfolios. Maintain records for seven years to stay audit-ready and fully compliant. Start early and automate your recordkeeping to simplify next year’s filing.   Tax season can be daunting for cryptocurrency investors and traders due to the complexities of digital asset reporting. With evolving regulations worldwide and the introduction of new tax forms, it is more important than ever to ensure your crypto statement is accurate and organized. This step-by-step guide will walk you through making your crypto tax statement easy to prepare, ensuring compliance, and minimizing stress during tax filing. Understanding Crypto Tax Reporting in 2025 As of 2025, cryptocurrency is treated as property by many tax authorities, including the IRS in the United States, meaning every transaction —whether selling, trading, or earning —can have tax implications.  New reporting requirements, such as the IRS Form 1099-DA, require brokers and exchanges to report your digital asset transactions directly to tax authorities. This shift towards transparency means you need to be meticulous in maintaining records of all trades, transfers, and earnings to comply fully and avoid penalties or audits. Additionally, starting in 2025, the IRS requires taxpayers to use wallet-by-wallet accounting to track cost basis, making it crucial to differentiate transactions by wallet. The regulatory climate continues to evolve, and staying up to date with your country’s specific rules, whether you are in the US, UK, Nigeria, or elsewhere, is essential for accurate reporting. Step 1: Collect Your Crypto Transaction Data The first step in preparing your crypto statement is to gather all transaction records from every exchange, wallet, and DeFi platform you used during the tax year. Important data includes: Dates of all buy, sell, trade, and transfer transactions Amounts and types of cryptocurrencies involved Fair market value in your local currency at each transaction time Fees paid and transaction purposes (e.g., payment, earning, staking rewards) Many exchanges provide downloadable transaction histories or annual summaries, which should be the starting point. For non-custodial wallets or DeFi protocols, you should export transaction logs using blockchain explorers or wallet software. Step 2: Use Crypto Tax Software Tools to Simplify Reporting Manually tracking cost basis and gains for multiple transactions across wallets can be overwhelming. Utilizing reputable crypto tax software like Koinly, CoinTracker, or CryptoTrader.Tax can automate much of this process. These platforms can: Import transaction data automatically from exchanges and wallets. Categorize transactions by type and wallet. Calculate cost basis, gains, or losses using wallet-by-wallet accounting. Generate IRS-compliant tax forms, like 1099-DA or Schedule D. Provide reports formatted for tax filing software or accountants. Using tax software reduces errors, saves time, and lets you visualize your crypto portfolio’s performance throughout the year. Step 3: Understand How to Report Different Crypto Activities Your tax statement needs to reflect all types of activities accurately, including: Selling Crypto for Fiat Currency: Capital gains or losses are computed as the difference between sale proceeds and purchase price. Trading one Crypto for Another: This is often considered a taxable event with capital gains implications. Receiving Crypto as Income: Includes mining rewards, staking payouts, airdrops, and payments for goods or services, in this case, reporting fair market value as ordinary income. Transferring Crypto Between Wallets: Internal transfers are generally not taxable but must be tracked to maintain cost basis accuracy. Each activity has specific tax treatment, so ensuring your software or accountant categorizes transactions correctly will help avoid IRS scrutiny. Step 4: Reconcile Wallets and Exchanges In 2025, wallet-by-wallet accounting is mandatory. This means you need to maintain separate records for each wallet and exchange account because the IRS requires cost basis and holding periods to be calculated individually. Reconciling wallets ensures you don’t double-count or omit transactions, which can affect your tax liability and create audit risks. Verify that transactions transferred from one wallet to another are correctly recorded as transfers rather than taxable sales or purchases. This comprehensive reconciliation supports transparency and helps reconcile differences in your final tax statement.​ Step 5: Review Latest Regulatory Changes and Seek Professional Advice Cryptocurrency tax regulations are evolving rapidly, with governments worldwide enhancing scrutiny and compliance frameworks. For example, new tax regimes in Nigeria and the UK are introducing stringent reporting obligations for crypto service providers and users from 2025 onward. Stay informed by monitoring IRS announcements and major tax authority updates, and consider consulting a tax professional who specializes in digital assets. They can guide you through complex transactions, audits, or international tax implications, ensuring full compliance and optimized tax strategies. Step 6: File Your Crypto Tax Return Accurately and Timely Once your crypto statement is prepared and reviewed, you must integrate it into your overall tax return, ensuring you answer the digital assets question truthfully. In the US, the IRS now requires every tax return to include a specific question on crypto activity, and answering dishonestly could lead to penalties or investigations. File before the deadline or apply for extensions if needed to avoid late penalties. Retain all supporting documents, such as transaction histories and tax software reports, for at least seven years in case of IRS audits. Tips to Make Your Crypto Tax Statement Easier in the Future Here are practical tips to simplify your record-keeping: Keep real-time records of all crypto transactions, preferably automated via tax software or spreadsheet tools. Use a consistent wallet and exchange strategy to simplify wallet-by-wallet accounting requirements. Avoid using too many wallets or obscure decentralized platforms unless necessary. Regularly update your records after every trade or transaction. Educate yourself on tax laws or work with a crypto-savvy accountant year-round. Making Crypto Tax Season Stress-Free: Stay Organized, Stay Compliant Getting your crypto statement ready for tax season in 2025 doesn’t have to be a complicated or stressful task. By understanding the latest reporting requirements, organizing your transaction data carefully, utilizing crypto tax software, and possibly consulting professionals, you can make your crypto tax reporting straightforward and compliant with evolving regulations. Preparation and diligence now will save you time, money, and potential legal headaches later, allowing you to confidently enjoy the benefits of cryptocurrency investment and trading while meeting your tax obligations accurately. This step-by-step guide provides a clear path from collecting your data through to filing, setting you up for a smooth crypto tax season regardless of your trading activity level. FAQ Q1. What is a crypto tax statement, and why do I need one? A crypto tax statement summarizes all your digital asset transactions for a tax year, showing profits, losses, and income. It’s required for tax compliance in most countries. Q2. What’s new about crypto tax reporting in 2025? Starting in 2025, the IRS and other tax authorities will require wallet-by-wallet accounting and new forms like 1099-DA, increasing transparency and accountability for crypto investors. Q3. What happens if I don’t report my crypto transactions? Failing to report can result in penalties, interest, or even audits. Since exchanges now report directly to tax authorities, underreporting is easily detected. Q4. Which crypto activities are taxable? Selling, trading, or earning crypto (via staking, mining, or payments) is taxable. Transfers between your own wallets usually aren’t, but must still be documented. Q5. How can I make crypto tax reporting easier? Use automated crypto tax software such as Koinly, CoinTracker, or CryptoTrader.Tax to import, categorize, and calculate gains accurately. Q6. What is wallet-by-wallet accounting? It’s a system where each wallet’s transactions are tracked individually for cost basis and holding periods. This prevents double-counting and ensures accuracy under the new 2025 IRS rules. Q7. Do DeFi and NFT transactions need to be reported too? Yes. All transactions involving a change in crypto ownership or value, including DeFi yields or NFT sales, must be recorded and reported. Q8. Can I handle my crypto taxes without a professional? You can if your transactions are simple. But if you trade often, use DeFi, or hold crypto across multiple platforms, a crypto-savvy tax accountant is strongly recommended.