Option Circle has unveiled its new Volatility Intelligence Engine, a proprietary analytics suite designed to give retail and professional options traders access to institutional-grade volatility insights. Backed by three pending patents, the engine introduces over 8,000 unique volatility metrics per stock—bringing a level of quantitative precision previously reserved for top hedge funds. The system models what Option Circle calls the “volatility DNA” of every listed security, capturing multi-dimensional data across term structure, skew, and historical behavior. Unlike traditional implied volatility readings, which provide only snapshot metrics, the new engine contextualizes each data point—revealing whether volatility is unusually high, low, or statistically significant compared to historical norms. “Knowing a stock’s implied volatility is like knowing the temperature is 95 degrees,” said Shishu Bedi, CEO of Option Circle. “It’s useful, but incomplete. Our analytics tell you it’s the hottest day in five years. One is data—the other is insight. That’s the difference our engine brings to traders everywhere.” Takeaway Option Circle’s AI-powered engine turns raw volatility data into actionable market context—bridging the analytical gap between individual traders and elite quantitative funds. Option Circle’s Volatility Intelligence Engine builds on the same frameworks used by institutional quants, but applies them within an intuitive retail platform. The tool performs continuous calculations across thousands of securities, capturing relative skew, slope, and rank to identify where volatility levels are statistically extreme. This gives traders a dynamic view of fear, complacency, and opportunity across the options market. Among its core modules, the engine performs Volatility Surface Analysis to measure relative demand for puts and calls; Term Structure Insights to map volatility across different expirations; and Historical Contextualization to determine whether current conditions are expanding, contracting, or anomalous. Together, these tools enable a new degree of precision in evaluating both directional bias and risk exposure. “We’re democratizing the tools of the top one percent,” said Bedi. “For too long, this level of quantitative analysis has been locked behind institutional walls. Our users can now instantly determine whether today’s volatility presents a typical environment or a rare, actionable opportunity.” Takeaway By giving traders institutional-grade volatility metrics, Option Circle empowers them to identify statistically rare market conditions and build strategies around them in real time. For advanced options strategists, the engine represents a powerful upgrade in backtesting and strategy design. Users can screen for assets with historically expensive implied volatility to pursue premium-selling setups, or locate long-term contracts priced unusually low versus front-month options. The system’s breadth—8,000 metrics per stock—enables granular insight into how volatility regimes shift over time. This precision transforms how traders interpret market behavior, offering an unprecedented ability to quantify sentiment and risk premia. By embedding machine learning directly into its analytics pipeline, Option Circle ensures that its volatility models continuously refine themselves as new data and trading behaviors emerge. More broadly, the launch signals a shift toward intelligent, context-aware analytics in options trading. Rather than reacting to implied volatility changes, traders can now understand why those changes occur—and whether they represent opportunity or noise. Takeaway Option Circle’s Volatility Intelligence Engine turns volatility into an interpretive signal, giving traders context that transforms uncertainty into quantifiable opportunity. Option Circle’s platform combines AI automation, collaborative strategy sharing, and real-time execution to simplify complex options workflows. By integrating this new analytics layer, the company extends its mission to make advanced trading intelligence accessible, intuitive, and data-driven for every market participant. The Volatility Intelligence Engine is now live for all Option Circle customers, offering the most comprehensive volatility visualization and analytics suite available to the public. As retail traders adopt professional-grade analysis, the line between institutional and individual capability continues to blur—an evolution Option Circle aims to accelerate. With this launch, the company reinforces its role at the forefront of AI-powered financial innovation, delivering the next generation of quantitative tools for the modern trading ecosystem. Takeaway Option Circle’s innovation brings quant-level analytics to the retail market—defining a new era where AI, accessibility, and precision converge in options trading.

U.S. Representative Troy Downing (R-Mont.) has introduced the Retirement Investment Choice Act, a bill seeking to give Americans the freedom to invest their 401(k) savings in alternative assets, including cryptocurrencies. The legislation would codify Executive Order 14330, signed by President Donald Trump in August 2025, which directed federal agencies to “democratize access to alternative assets” for 401(k) investors. Downing’s proposal aims to make that order legally binding, ensuring that retirement savers can diversify beyond traditional stocks and bonds. “Alternative investments hold the transformative potential to supercharge the financial security of countless Americans saving for retirement,” Downing said in a statement. “I applaud President Trump for his leadership to democratize finance and am proud to be leading the effort in Congress to codify his EO and enshrine this move for generations to come.” The American Securities Association (ASA) welcomed the bill, calling it a significant step toward broader investment access. “ASA applauds Rep. Downing’s leadership in Congress to codify President Trump’s 401(k) Executive Order into law which will expand investment opportunities for every American retirement saver and retiree,” said ASA President and CEO Chris Iacovella. If passed, the bill would protect plan sponsors who choose to offer investment options in crypto, real estate, or private equity, while leaving the final decision to individual employers. Investor Takeaway The bill could open the door for millions of Americans to add Bitcoin and other digital assets to their retirement portfolios, mainstreaming crypto as a long-term investment class. Trump’s Push to Expand 401(k) Access The bill builds on President Trump’s broader effort to open retirement accounts to digital and alternative assets. As FinanceFeeds reported, Trump’s Executive Order 14330 instructed the Department of Labor and the SEC to remove regulatory barriers that prevent 401(k) plans from offering cryptocurrencies and similar options. The order emphasized that investors should be able to access brokerage windows that allow diversified holdings within their retirement portfolios. Following the order, nine members of Congress—including Rep. Downing—urged the SEC to act swiftly, arguing that the change could unlock access to over $9 trillion in retirement capital. They maintained that workers “should have access to funds that include investments in alternative assets when the relevant plan fiduciary determines that such access provides an appropriate opportunity to enhance the net risk-adjusted returns.” Lawmakers also highlighted that current uncertainty around fiduciary liability discourages employers from expanding plan options. They called for updated guidance to ensure clarity on custody, valuation, and investor protections when crypto or other alternative assets are included. Investor Takeaway If passed, the legislation may unlock access to $9 trillion in 401(k) funds, marking a major milestone for crypto adoption. What Comes Next The Retirement Investment Choice Act has been referred to the House Committee on Education and the Workforce for review. If enacted, it would establish a permanent legal framework supporting digital asset investments in U.S. retirement plans—a move that could reshape both the crypto market and the country’s retirement system. Supporters see it as a way to modernize savings and democratize finance, while critics warn it could expose retirees to the volatility and complexity of emerging asset classes. Either way, the bill marks one of the clearest signals yet that Washington is seriously considering bringing crypto into the mainstream of American retirement investing, like with ETFs.

KEY TAKEAWAYS Crypto prop firms fund traders to trade digital assets using the firm’s capital instead of personal funds. Traders prove their skills in evaluation phases before gaining access to funded accounts. Profit splits can reach up to 90%, making these firms highly appealing for skilled traders. Benefits include access to larger capital, reduced personal risk, and professional trading environments. Key challenges involve market volatility, 24/7 trading schedules, and strict risk management rules.   The cryptocurrency market has evolved rapidly, attracting a wide variety of traders from novices to seasoned professionals. One of the most notable recent trends is the entry of proprietary trading firms, often called prop firms, into the digital asset space.  These firms, traditionally involved in stocks, commodities, and forex trading, are now adapting their models to fund and empower traders specifically for cryptocurrency markets. This article explores what crypto prop firms are, how they operate, and why they are becoming a popular avenue for traders seeking to maximize their potential in digital asset trading. What Are Crypto Prop Trading Firms? A proprietary trading firm is a financial institution that utilizes its own capital to trade financial instruments for profit. Unlike brokers or exchanges, which provide services for client trades, prop firms operate with their own funds and employ skilled traders to generate profits for the company. In the context of crypto prop firms, these institutions specialize solely in digital assets such as Bitcoin, Ethereum, and various altcoins. Crypto prop firms provide traders with access to substantial capital through funded trading accounts. Typically, traders must first demonstrate their skills in the evaluation stages before gaining access to these accounts. Once approved, traders operate in live market conditions, making trades using the firm’s capital rather than their own money.  Profits are then shared between the firm and the trader based on pre-agreed percentages, with many firms offering a trader profit share of 80% to 90%, which is highly attractive compared to other trading arrangements. How Do Crypto Prop Firms Operate? The operation of a crypto prop firm involves a systematic process designed to identify and fund skilled traders while managing risk effectively. Evaluation and Challenge Phases: Traders begin by enrolling in a challenge phase, where they trade on simulated or real-time demo accounts under strict risk and profit targets. This phase typically requires meeting certain profit goals (e.g., 8-10%) without breaching daily or overall loss limits. Successful completion leads to a verification phase, which is a shorter but similar test to ensure consistency. Access to Funded Accounts: Passing the evaluation grants the trader access to a funded account with the firm’s capital. The trader then trades live, aiming to generate profits for the company while adhering to risk controls set by the firm. These controls include maximum drawdowns and stop-loss limits to protect the firm’s capital. Profit Sharing and Payouts: Traders receive a portion of the profits they generate, often up to 90%. Payment schedules vary by firm, but monthly payouts are common. Performance and adherence to risk rules typically influence the trader’s ability to scale to larger account sizes over time. Scaling Opportunities: With consistent profitability, traders can often increase their allocated capital, enabling them to place larger trades and earn significantly higher returns. This scaling potential is one of the primary incentives for skilled traders joining crypto prop firms.   Overall, trading platforms play a crucial role in this model. Leading firms offer proprietary or widely used platforms optimized for speed, accuracy, and transparency to ensure traders operate in near-real market conditions, critical in the volatile crypto environment. Benefits of Crypto Prop Trading Firms Why are crypto prop firms gaining so much traction? The model offers several distinct advantages: Access to Larger Capital: Traders can leverage the firm’s capital, often many times larger than their personal funds, enabling potentially higher returns. Reduced Personal Financial Risk: Since traders use firm capital, they avoid risking their own savings. High Profit Splits: Many firms offer attractive profit-sharing agreements, sometimes allowing traders to keep as much as 90% of profits. Professional Trading Environment: Firms enforce strict risk management and discipline with defined rules on drawdowns and position sizes. Support and Training: Some firms provide training, mentorship, trading tools, and research resources to help traders enhance their skills and succeed. Scaling Potential: Successful traders can receive larger accounts for trading bigger volumes and earning higher profits. Challenges of Crypto Prop Trading Despite the opportunities, trading crypto with prop firms comes with unique challenges: Market Volatility: Cryptocurrencies are notoriously volatile, causing rapid price swings that require nimble risk management and decision-making. 24/7 Trading: Unlike traditional markets, crypto trades around the clock, demanding flexibility and alertness from traders. Strict Risk Controls: Firms impose tight loss limits and profit targets, placing pressure on traders to maintain consistent performance. Regulatory Uncertainty: The evolving legal landscape around cryptocurrencies globally introduces some ambiguity and compliance complexity. Competition: The evaluation phases are selective, and traders face stiff competition to gain funded accounts.   Traders focusing on day trading, swing trading, and arbitrage often thrive in this environment, particularly those with strong technical analysis skills and adaptability. How Crypto Prop Firms Compare to Traditional Prop Firms Traditional prop firms, operating in stocks, forex, and commodities, share the basic principle of funding and profit-sharing with traders. However, crypto prop firms differ fundamentally due to the unique characteristics of the digital asset market: Trading Hours: Crypto markets run continuously, requiring different risk profiles and trading schedules. Volatility: Crypto assets usually experience higher volatility, necessitating advanced risk controls and fast trade executions. Market Structure: Crypto markets are less regulated and decentralized, creating different trading dynamics and opportunities for arbitrage. Profit Targets: Crypto prop firms often set higher profit goals and more dynamic risk management policies. Technology Usage: Crypto prop firms emphasize platforms designed to handle high-speed, 24/7 trading seamlessly.   These differences make crypto prop firms attractive to traders looking for high-intensity trading and innovation, contrasting with the steadier, regulated environment of traditional prop trading. Getting Started with a Crypto Prop Firm Starting a crypto trading career through a prop firm typically involves these steps: Research Firms: Investigate firm reputation, profit-sharing arrangements, rules, trading platforms, and trader support. Pass the Evaluation: Complete the challenge and verification stages by demonstrating trading skill and discipline under controlled conditions. Begin trading Live: Upon success, receive a funded account and adhere to the firm’s guidelines for risk and profit targets. Scale Up: Maintain consistency to grow your trading account size and increase earning potential. Many firms now offer demo accounts, training, and community support to help new traders prepare. The Future of Crypto Prop Trading The entry of prop firms into crypto trading represents a natural evolution as the digital assets space matures. Key trends shaping the future include: Multi-Asset Integration: Firms increasingly offer multi-asset trading (forex, stocks, crypto) to diversify opportunities and reduce risks. Advanced Technology: AI, machine learning, and automation are becoming integral for trade analysis, risk control, and execution speed. Regulatory Advances: As the crypto industry gains clearer regulations, prop firms will adapt compliance frameworks, enhancing trader confidence. Global Talent Access: Crypto prop firms attract worldwide talent by enabling remote access and scalable funding models. Enhanced Trader Support: Growing emphasis on trader education, mentorship, and psychological coaching to boost performance in volatile markets.   These developments position crypto prop firms as a leading force in the future of trading, blending technology, capital, and skilled human insight to unlock new profit avenues. Crypto Prop Firms: The Future Gateway for Ambitious Digital Asset Traders Crypto prop trading firms open exciting pathways for skilled traders to access firm capital, leverage advanced tools, and maximize profits in the fast-paced world of digital asset markets. By overcoming initial evaluation hurdles and maintaining disciplined risk management, traders can build a promising career without risking personal funds. For those interested in entering the crypto markets at scale, exploring crypto prop firms is a compelling opportunity. FAQ What is a crypto prop trading firm? A crypto prop trading firm is a company that funds traders to trade cryptocurrencies using the firm’s capital. Traders earn a share of the profits while adhering to strict risk rules. How do traders qualify for a funded crypto account? Traders typically complete evaluation and verification phases, proving they can reach profit targets without breaching drawdown limits. Successful traders receive live funded accounts. How much profit can traders keep? Most crypto prop firms offer profit splits ranging from 80% to 90% in favor of the trader, depending on performance and account scaling tiers. What risks do traders face? While traders don’t risk personal capital, failure to follow risk rules, like exceeding daily losses, can lead to disqualification from the program or account termination. Are crypto prop firms regulated? Regulation varies by jurisdiction. Many operate under general trading or corporate laws, but the crypto industry’s evolving regulatory environment may bring more oversight in the future. How are crypto prop firms different from traditional prop firms? Unlike traditional firms in stocks or forex, crypto prop firms operate 24/7, deal with higher volatility, and rely heavily on automation and digital asset exchanges. Can beginners join a crypto prop firm? Yes, but success depends on skill and discipline. Many firms offer training, demo challenges, and mentorship programs to help new traders prepare.

Gain Capital, the parent company of Forex.com and City Index, has obtained a Category 5 licence from Dubai’s Securities and Commodities Authority (SCA), joining a growing list of global brokers seeking a foothold in the Middle East’s booming retail trading market. According to the SCA registry, the licence allows Gain to offer financial consultations and promote financial services in the UAE, effectively enabling the firm to operate as a regulated introducing broker. The permission stops short of allowing it to hold client funds or execute trades locally. In practice, that means Gain can market Forex.com or City Index to local traders and direct them to its offshore entities in other jurisdictions. Gain’s Category 5 entry suggests a “land-and-expand” strategy: start with marketing and client introductions under light-touch permissions, then seek broader authorisation once the operation proves commercially viable. A Crowded Race for Dubai Gain joins a fast-growing crowd. Over the past year, Dubai has become the new hotspot for CFD brokers looking to serve traders across the Middle East and North Africa (MENA). Earlier this week, XS.com secured approval from the United Arab Emirates’ Securities and Commodities Authority (SCA), deepening its reach into one of the world’s most sought-after trading markets. The Australian-founded broker received a Category 5 license, a regulatory tier covering financial consultation and promotional services. The permit allows the company’s new UAE entity to operate under the SCA’s framework, bringing its global tally to eight regulatory approvals. A smaller group of heavyweight brokers — Plus500, XTB, Deriv, and RoboMarkets — hold the full Category 1 licence, which allows local custody of funds and trade execution. Many Category 5 licensees, however, see their entry as a first step before upgrading to a more comprehensive regulatory tier once their local footprint grows. Founded in 1999, Gain Capital was one of the early pioneers in online forex trading, taking its FOREX.com brand public on the NYSE in 2010. The company expanded aggressively, acquiring City Index in 2014, and later became part of StoneX’s global ecosystem after the 2020 buyout. The StoneX acquisition wasn’t smooth sailing. Some Gain shareholders initially pushed back against the $6-per-share offer, and an insider trading probe surfaced around the deal shortly after completion. But the merger ultimately transformed StoneX from a largely institutional player into a retail powerhouse with a presence in more than 180 countries.

KEY TAKEAWAYS Crypto swaps let users exchange one token for another without converting to fiat. Centralized exchanges (CEXs) offer high liquidity and strong security but require KYC and trust in the platform. Decentralized exchanges (DEXs) provide privacy and control through smart contracts but involve gas fees and smart contract risks. Safe swapping practices include using reputable exchanges, verifying token contracts, and securing wallets with 2FA or hardware protection. Best results come from combining secure platforms, smart timing, and disciplined security habits to maximize returns and minimize exposure.   Swapping crypto coins safely and saving on fees involves understanding how to navigate the wide variety of exchanges and decentralized platforms, optimizing strategies for fee reduction, and adopting best security practices to protect your digital assets. Cryptocurrency swapping essentially means exchanging one token for another, for example, trading Bitcoin for Ethereum or converting one altcoin to a stablecoin. This can be done on centralized exchanges (CEXs) such as Coinbase, Kraken, or Binance.US, or on decentralized exchanges (DEXs) like Uniswap or SushiSwap. Each method has advantages and drawbacks regarding security, fees, and convenience. Understanding Crypto Swaps A crypto swap is the direct exchange of one cryptocurrency for another, for instance, trading ETH for USDC, or BNB for SOL, without first converting to fiat currency. These swaps happen either on centralized exchanges (CEXs) or decentralized exchanges (DEXs). 1. Centralized Exchanges (CEXs) CEXs like Binance, Coinbase, and Kraken act as intermediaries, matching buyers and sellers through an order book. They manage custody of users’ assets and handle liquidity internally. Pros: High liquidity, strong security protocols, and user-friendly interfaces. Cons: Require KYC (Know Your Customer), have withdrawal fees, and users must trust the exchange to safeguard funds. 2. Decentralized Exchanges (DEXs) DEXs like Uniswap, PancakeSwap, and SushiSwap use smart contracts and liquidity pools to facilitate peer-to-peer swaps without middlemen. Users retain full control of their wallets throughout the transaction. Pros: Non-custodial (you keep your keys), global access, and no account registration. Cons: Network fees (gas), slippage risks, and exposure to smart contract vulnerabilities. How a Crypto Swap Works A token swap typically follows these steps: Select Tokens: Choose the token pair (e.g., ETH → USDT). Check Exchange Rate: The platform quotes an amount based on liquidity and market price. Approve Transaction: If using a DEX, the user grants the smart contract permission to access the token. Confirm the Swap: The tokens are exchanged, and the new tokens are sent to the wallet. Behind the scenes, DEXs rely on Automated Market Makers (AMMs)  algorithms that adjust prices based on supply and demand within liquidity pools. The larger the pool and trading volume, the smaller the price impact and slippage. Safe Methods to Swap Crypto Coins Learn the best ways to exchange your digital assets securely: 1. Use Reputable Exchanges Choose exchanges with solid security track records, regulatory compliance, and transparency. Platforms like Coinbase, Kraken, Gemini, and Binance.US have comprehensive security protocols, including cold storage of assets, two-factor authentication (2FA), and insurance coverage on funds. Centralized exchanges also provide liquidity, reducing the chance of price slippage. However, they require trusting a third party with custody of your assets. 2. Decentralized Exchanges for Privacy and Control DEXs allow peer-to-peer swaps without intermediaries, minimizing custodial risks. Using a secure wallet like MetaMask, users can exchange directly from their wallets. However, DEXs incur network (gas) fees and may have liquidity constraints, causing higher slippage. Due diligence on token contracts is essential to avoid scams. 3. Enable Security Features Always activate two-factor authentication, use hardware wallets when possible, and confirm withdrawal addresses carefully. Many exchanges provide withdrawal whitelists and suspicious activity alerts, which enhance account security. How to Save on Fees When Swapping Below are several ways to save when swapping: Compare Trading and Withdrawal Fees: Fees vary widely by platform and cryptocurrency. Exchanges like Kraken offer some of the lowest maker fees, starting around 0.16%, while others may charge higher percentages. Choosing exchanges with fee discounts for high-volume trading or using native tokens to pay fees (e.g., Binance’s BNB) can reduce costs.​ Optimize Timing and Network Fees: Gas and network fees can fluctuate dramatically on blockchains like Ethereum, especially in busy periods. Using Layer-2 solutions (e.g., Polygon, Arbitrum) or timing swaps during low congestion can save significant amounts. Some DEXs run on cheaper chains or use protocols designed to minimize fees. Use Limit Orders and Avoid Market Orders: Market orders execute immediately, but at potentially worse prices and higher costs due to slippage. Limit orders specify the price at which you swap, avoiding unexpected costs. Many centralized exchanges support advanced order types to optimize fee efficiency. Consider Aggregators: Crypto swap aggregators like 1inch or Matcha automatically scan multiple DEXs for the best prices and lowest fees, allowing users to route swaps through different chains or protocols intelligently.​ Common Risks When Swapping Crypto While swapping can be fast and convenient, it carries risks that every trader should understand before proceeding. 1. Phishing and Fake DEXs Attackers often clone legitimate platforms or distribute malicious links. Connecting your wallet to a fake DEX can expose private keys or drain funds. Always double-check the URL and smart contract address before approving transactions. 2. High Network Fees (Gas Fees) Every blockchain charges network fees to process transactions. On congested chains like Ethereum, gas fees can spike dramatically. Paying attention to network conditions and choosing the right chain (e.g., Polygon, BSC, or Arbitrum) can save significant costs. 3. Slippage Losses Slippage happens when the price of a token changes between the time you initiate a swap and when it executes. Large trades or low-liquidity pools increase this risk. Setting a slippage tolerance (e.g., 0.5–1%) prevents execution at drastically worse rates. 4. Smart Contract Exploits Bugs or vulnerabilities in smart contracts can lead to fund losses. Before using a DEX, check whether its code has been audited by a reputable firm (like CertiK or PeckShield). 5. Bridge and Cross-Chain Risks Swapping across different blockchains through bridges adds complexity and risk. Faulty bridge code or validator attacks have led to some of the largest DeFi hacks in history. Only use well-established bridges with transparent security audits and insurance coverage. Best Practices for Secure Swapping Stay ahead of threats with smart, secure trading routines. Verify Token Contracts: Scam tokens frequently appear on DEXs. Always cross-check contract addresses on official project channels or trusted sources. Use Reputable Wallets: Hardware wallets or secure software wallets with private key control are recommended for managing crypto assets. Beware of Phishing: Use bookmark links to exchanges and official apps to avoid fake websites designed to steal credentials. Limit Exposure During Swaps: Avoid holding large amounts of tokens on exchanges unnecessarily; transfer assets to secure wallets after swapping. Mastering Crypto Swaps: Secure, Smart, and Cost-Efficient Trading Swapping crypto coins safely and saving on fees requires a careful balance of security, cost-efficiency, and convenience. Centralized exchanges offer user-friendly environments with robust security and liquidity, but require trusting the platform. Decentralized exchanges provide greater privacy and control but demand attention to contract validity, liquidity, and gas fees.  Using fee optimization strategies such as timing swaps during low network congestion, employing limit orders, and leveraging swap aggregators can significantly reduce costs. Maintaining strong personal security practices, including 2FA, hardware wallets, and verified sources, is crucial to safeguarding assets throughout the swapping process. With the expanding number of exchange options and innovative cross-chain technologies emerging, informed users can navigate the crypto swapping landscape confidently, maximizing value while minimizing risk. FAQ What is a crypto swap? A crypto swap is the direct exchange of one cryptocurrency for another, such as swapping BTC for ETH, without converting to fiat currency. What’s the difference between a CEX and a DEX? A CEX (like Binance or Kraken) acts as a middleman and holds users’ funds. A DEX (like Uniswap) enables peer-to-peer swaps using smart contracts, allowing users to keep control of their private keys. Are crypto swaps safe? Yes, if done on reputable platforms. Always verify URLs, token contracts, and enable wallet security features like 2FA or hardware authentication. How can I save on fees when swapping crypto? Compare exchange fees, use native tokens for fee discounts, time swaps during low congestion, and consider aggregators like 1inch to find the lowest-cost routes. What is slippage, and how do I avoid it? Slippage occurs when prices change during a trade. Avoid it by setting a slippage tolerance and using limit orders instead of market orders. Why are network (gas) fees so high on Ethereum? Gas fees rise with network congestion. Consider swapping during off-peak times or using cheaper Layer-2 networks like Polygon or Arbitrum. Are decentralized exchanges safer than centralized ones? DEXs are non-custodial, meaning you control your funds, but they carry risks like smart contract bugs. CEXs are easier to use but require trusting the platform.

Nasdaq, Inc. (Nasdaq: NDAQ) has unveiled major enhancements to its market surveillance platform following a successful pilot that embedded advanced AI across every stage of the market abuse investigation process. The technology, now ready for full deployment, is used by financial institutions and regulators worldwide—including 50 exchanges and 20 supervisory authorities—to identify suspicious trading activity and accelerate enforcement actions. The new capabilities expand Nasdaq’s position as a global regulatory technology leader by integrating AI-driven anomaly detection, predictive analytics, and network mapping tools into the trade surveillance lifecycle. The platform enables users to move seamlessly from pattern recognition to case investigation and regulatory reporting, creating a complete digital framework for market integrity oversight. “Manipulative actors are increasingly coordinating sophisticated schemes through indirect relationships that evade traditional detection methods,” said Edward Probst, Head of Regulatory Technology at Nasdaq. “As these tactics evolve, equally sophisticated tools are required to reveal hidden connections and counter emerging threats. Through the collective strength of our client community, Nasdaq is advancing the protection and transparency of global capital markets.” Takeaway Nasdaq’s upgraded AI-driven surveillance framework represents a leap forward in regulatory technology—transforming how exchanges and regulators detect, assess, and prevent complex forms of market manipulation in real time. As global financial crime grows more sophisticated, manual and rules-based detection systems are increasingly inadequate. Nasdaq’s new AI detection models analyze massive internal and external data sets to deliver predictive insights and comprehensive activity assessments, improving both accuracy and efficiency. The result is faster detection of potential misconduct and a significant reduction in false positives that previously slowed enforcement processes. These AI tools build on Nasdaq’s existing automation suite, which already streamlines triage and investigation workflows. Now, the enhanced system can autonomously identify potential cross-market abuse, flag emerging patterns, and prioritize cases by risk level. The combination of AI-enabled detection and automated analysis offers regulators and market operators a scalable system to act proactively against manipulation. The expanded functionality will be rolled out to all Nasdaq market surveillance clients starting in Q4 2025, giving both trading venues and oversight bodies access to a common, data-driven defense layer against global market abuse. Takeaway By embedding AI directly into surveillance workflows, Nasdaq’s platform moves from reactive enforcement to predictive prevention—reducing investigation time and enhancing trust in regulated markets. The upgrades were validated through a pilot program conducted with the Capital Markets Authority (CMA) of Saudi Arabia. The AI-powered anomaly detection tools successfully identified 80% of historical pump-and-dump schemes within a test data set, a dramatic improvement over traditional detection methods. “We welcome the opportunity to partner with Nasdaq and demonstrate our commitment to market integrity,” said Saeed Ali Juraybi, Director of Market Surveillance and Analysis at the Saudi CMA. “The pilot’s 80% detection accuracy underscores the transformative potential of these AI capabilities. Cross-border manipulation requires cross-border solutions, and this initiative proves the industry can stay ahead of increasingly coordinated threats.” The pilot’s success not only validates Nasdaq’s approach but also highlights the growing importance of international collaboration in building unified standards for AI-assisted market supervision. The ability to detect abnormal behavior patterns across jurisdictions represents a milestone in how global regulators can collectively safeguard financial systems. Takeaway The Saudi CMA partnership demonstrates how AI can uncover manipulation patterns invisible to human review—marking a breakthrough for cross-border regulatory collaboration and technology-driven oversight. Nasdaq’s surveillance platform currently serves a vast global network across asset classes and market structures, integrating data from trade execution to post-trade review. Each connected market benefits from adaptive, machine-learning behaviors tailored to specific regulatory frameworks and trading dynamics, ensuring contextual accuracy and compliance. “Our platform’s models continuously evolve to reflect changing trading environments,” explained Tony Sio, Head of Regulatory Strategy and Innovation at Nasdaq. “By enabling regulators and operators to respond dynamically, we create a defense mechanism that learns as fast as manipulation tactics evolve.” This approach reflects Nasdaq’s broader commitment to safeguarding market integrity while enabling modernization across the financial ecosystem. From exchanges to regulators and financial institutions, AI integration is redefining how compliance is achieved and maintained at scale. Takeaway Nasdaq’s adaptive AI models introduce a self-learning compliance infrastructure—empowering the financial industry to evolve regulatory defenses as quickly as threats emerge. Beyond surveillance, Nasdaq continues to expand its technology portfolio through complementary initiatives like the Verafin Agentic AI Workforce, which applies digital agents to anti-money laundering operations. Together, these innovations reflect a unified strategy: to equip financial institutions with intelligent, cloud-native systems that fight financial crime at speed and scale. Nasdaq’s surveillance and compliance technologies now support over 3,800 financial institutions worldwide, including 97% of global systemically important banks, half of the world’s top 25 stock exchanges, and dozens of central banks. The scale of its regulatory network gives Nasdaq unparalleled visibility into global market dynamics—and a unique opportunity to turn AI insights into actionable safeguards. By embedding AI throughout the compliance lifecycle, Nasdaq is not just enhancing market oversight—it is redefining what modern regulation looks like in an era where data, speed, and intelligence are the ultimate competitive advantages. Takeaway Through AI integration, Nasdaq is reshaping the future of financial regulation—transforming compliance from a reactive necessity into a proactive, intelligent defense system for global markets.

BlackRock, a major global investment company, is one of several large companies that are reducing their exposure to higher-risk credit instruments as credit spreads, the difference between corporate and government bond yields, shrink to historically low levels. The shift indicates growing concern that prices in the high-yield and leveraged loan markets have become too high, following months of strong demand and solid performance across all fixed-income products. ​ Analysts say that investors are less interested in risky credit right now because they are worried about the economy slowing down and the higher possibility of defaults in the lower-rated corporate bond market. The extra credit risk that institutions are putting on is no longer worth as much because spreads are close to cyclical lows. This has caused them to move back towards safer, investment-grade products. ​ Speculations About Compressed Yields The spreads have never been this tight before, making high-yield bonds and speculative credit less appealing than government bonds. BlackRock’s fixed-income analysts say that the risk-reward tradeoff has “skewed unfavourably,” which means that even tiny market shocks could hurt returns for investors who are heavily invested in weaker issuers. ​ M&G, Fidelity, and other fund managers are taking similar steps to minimise their exposure to debt from corporations with worse credit ratings. Most institutional investors are hesitant to make changes to their portfolios. They aim to secure profits from past quarters while prioritizing capital preservation in anticipation of heightened volatility. ​ Defensive Positioning Gains Force Investors are moving towards short-term and investment-grade credit products, which are more stable and liquid in times of economic uncertainty. If spreads expand again, this method enables managers to reinvest more easily, giving them a chance to take on riskier positions at better prices. ​ Also, the pattern of reallocating money indicates a higher risk that the recent success in credit markets may not last if corporate profits drop or if interest rates stay high longer than expected. BlackRock’s institutional teams have already warned that long-term credit positions are especially at risk of losing value in these kinds of markets. ​ What This Means For The Global Debt Markets The concerted withdrawal of big investment firms shows that the mood in the credit market is changing. Corporate bonds have performed well over the past year due to strong fundamentals and technical support. However, the window for significant gains from high-risk credit is closing. As BlackRock and other companies shift towards safer assets, dealers anticipate a decline in demand for junk bonds and leveraged loans. This might make it more expensive for lower-rated issuers to borrow money. In the bigger picture, this cautious approach may make the market more stable, even though it shows that investors are becoming more sensitive to changes in the credit cycle. ​ Overall, the recalibration by major institutions like BlackRock shows that they are realistically aware of the late-cycle situation, which means they prefer quality above yield. This also suggests that the era of easy credit returns may be getting tighter, along with the spreads themselves. ​

The Monetary Authority of Singapore (MAS) has launched BLOOM, a program aimed at accelerating the integration of tokenized bank liabilities and regulated stablecoins into global and domestic settlement systems. BLOOM was announced on October 16, 2025, with the goal of meeting the changing needs of the digital settlement asset sector by providing a framework for next-generation financial services.​ BLOOM draws from insights of over 10 industry experiments, turning lessons into market-ready solutions. It builds on Project Orchid and MAS’s earlier digital Singapore dollar work, moving from foundational research to practical financial products.​ Key Goals and Working Together in the Industry BLOOM has a number of strategic goals, such as: Payments and Settlements Across Borders and Within the Country: The goal of this effort is to transform the way payments and settlements operate, particularly for cross-border transactions. BLOOM will facilitate easier value transfers between regions, thereby streamlining international payments and settlements.​ Support for Multiple Currencies: BLOOM enables efficient, cost-effective transactions in G10 and key Asian currencies, creating a flexible global financial ecosystem. M’s approach to wholesale use cases includes corporate treasury management, trade finance, and agentic payments. These solutions improve the efficiency of financial operations and expand the range of digital asset capabilities.​   To make this change happen, MAS is working closely with a number of well-known companies in the financial industry, such as Circle, DBS, OCBC, Partior, Stripe, and UOB. Collaboration is all about making compliance checks and settlement procedures more efficient and automatic, lowering transaction costs, and encouraging the use of digital asset settlement in real-world financial situations.​ Moving Forward With Digital Assets and Financial Innovation BLOOM shows that Singapore is serious about digital assets and innovative financial solutions. Kenneth Gay, the Chief FinTech Officer at MAS, said that BLOOM gives financial institutions more alternatives for settlement assets. This is in addition to other programs like Project Guardian and Global Layer One that are already in place. All of these projects work together to improve the infrastructure and capacities of major financial institutions, making them better prepared for the digital asset age.​ It’s worth noting that MAS’s latest move to establish a robust digital asset ecosystem follows its announcement of a one-year delay to the Basel Committee’s crypto regulations, which are now slated to take effect in 2027. This delay provides the sector with more time to adapt to changing regulatory standards, ensuring the market is ready for new ideas simultaneously.​ Impact on Global Financial Systems Singapore’s reputation as a leading centre for digital financial transformation is even stronger with BLOOM. The project will create settlement infrastructure that is faster, safer, and more flexible, which will help tokenised finance and stablecoins become more popular. Singapore’s financial ecosystem is ready for a new era of efficiency and global connection in digital asset management. This is because of clear regulations, innovative technologies, and solid collaborations in the industry.​

CME Group, the world’s largest derivatives marketplace, has opened a new office in the Dubai International Financial Centre (DIFC), marking its formal expansion into the Middle East. Operating under a Dubai Financial Services Authority (DFSA) license, the new office strengthens CME Group’s presence across Europe, the Middle East, and Africa (EMEA) and enhances regional access to its suite of benchmark products. The launch underscores growing demand for advanced trading and risk management solutions from both institutional and retail participants in the region. With markets in the Gulf increasingly active in energy, FX, and commodities, CME Group’s physical presence in Dubai provides localized support, training, and infrastructure for clients navigating global derivatives. “Surging institutional and retail participation in financial markets has fueled demand for broader trading access in the Middle East,” said Julie Winkler, Chief Commercial Officer at CME Group. “Building on years of collaboration with regulators and brokers, our new office will accelerate our ability to help clients manage risk and pursue opportunities in the world’s most important benchmarks.” Takeaway CME Group’s DIFC office strengthens its EMEA footprint and positions the firm closer to a rapidly growing investor base in energy, currency, and commodities markets across the Gulf. Serge Marston, Head of EMEA at CME Group, said the Dubai hub will serve as the firm’s Middle East headquarters. “This is a significant step forward in elevating our EMEA presence,” he noted. “Our Dubai office will provide the UAE and surrounding markets a higher level of service and connectivity than ever before.” The DIFC welcomed CME Group’s arrival as a validation of Dubai’s role as a bridge between East and West. Salmaan Jaffery, Chief Business Development Officer at DIFC Authority, commented: “We are delighted to welcome CME Group to DIFC, strengthening a partnership built over many years. Their presence highlights Dubai’s strategic position as a global financial hub and reinforces the expanding opportunities across the region.” The move also comes amid accelerating derivatives participation among Middle Eastern investors seeking diversification and hedging opportunities. CME Group’s established relationships with local regulators and brokers are expected to facilitate market development and deepen access to global benchmarks. Takeaway By establishing its regional headquarters in Dubai, CME Group aligns with the Middle East’s growing appetite for sophisticated derivatives, positioning itself at the intersection of capital flows between Asia, Europe, and Africa. The Dubai office will be led by Sharif Jaghman, appointed as Head of Middle East and Africa. Jaghman brings nearly two decades of experience in financial services, having previously held senior roles at CME Group in London, the New York Stock Exchange, and Euronext. His leadership will focus on expanding CME’s regional client network and advancing education on risk management tools. CME Group offers futures, options, and cash products across every major asset class, including interest rates, equities, FX, energy, agricultural commodities, metals, and digital assets. The exchange continues to evolve its product suite to meet regional and global hedging needs. Earlier this year, CME Group listed the U.S. Dollar/United Arab Emirates Dirham (USD/AED) currency pair on EBS Market and EBS Direct, responding to client demand for localized FX instruments. The listing reflects the growing liquidity and international relevance of Gulf currencies in global trading portfolios. Takeaway CME’s expansion complements its product innovation, including the USD/AED listing—signaling a long-term commitment to serving Middle Eastern clients through localized access and tailored market infrastructure. The establishment of a DIFC office demonstrates CME Group’s long-term investment in regional growth and aligns with the UAE’s ambition to be a leading center for global finance. As global markets become increasingly interconnected, CME’s expansion provides Middle Eastern investors and institutions with closer, more efficient access to the world’s deepest liquidity pools. For global market participants, the new hub creates a gateway between established exchanges and emerging capital centers. For CME Group, it represents both a strategic foothold and a statement of intent—to support risk management and market development in one of the world’s fastest-evolving financial ecosystems. Through its presence in Dubai, CME Group aims to foster deeper engagement with regional stakeholders, enhance educational outreach, and drive broader participation in global derivatives markets from the heart of the Middle East. Takeaway CME Group’s Dubai hub connects Middle Eastern investors directly to global liquidity, reinforcing Dubai’s emergence as a central link in the worldwide derivatives and risk management network.

U.S. President Donald Trump and his family have reaped more than $1 billion in pre-tax profits from cryptocurrency ventures, according to a Financial Times investigation published on Wednesday. The FT reports that the Trumps’ fortune has surged through a mix of memecoins, stablecoins, and digital asset platforms, making crypto one of their biggest income sources since Trump’s return to the White House. At the center of the operation is World Liberty Financial (WLF), a blockchain venture linked to Trump’s sons and allies. The company reportedly earned $550 million from sales of its WLFI token and about $40 million in interest from reserves backing its USD1 stablecoin, which has sold $2.7 billion worth of tokens. The family also profited heavily from Trump- and Melania-branded memecoins, which generated around $427 million in total revenue. Asked about the FT’s figures, Eric Trump said the family’s total profits were “probably more.” “We were targeted in a way that we had to come up with alternatives to traditional finance,” Eric Trump told the FT, explaining the family’s pivot to crypto after being “de-banked for political reasons.” Investor Takeaway Institutional and retail investors alike may interpret the Trumps’ ventures as validation of blockchain’s profitability outside traditional finance. Trump’s Pro-Crypto Stance Sparks Debate Over Ethics and Market Influence The report highlights how Trump’s renewed presidency has coincided with a friendlier regulatory stance toward digital aseets. His administration has rolled back enforcement actions by the Securities and Exchange Commission (SEC) and allowed retirement funds to invest in digital assets. Trump has repeatedly described himself as the “first crypto president,” promising to make the U.S. “the global home for crypto innovation.” However, ethics experts warn that Trump’s dual role as policymaker and investor could create conflicts of interest. Richard Painter, former White House ethics lawyer, told the FT: “Every other president since the Civil War has avoided any significant financial conflicts of interest with their official duties.” Despite criticism, Trump’s crypto ventures appear to be thriving. His allies, including major industry figures and foreign investors, have reportedly poured hundreds of millions into projects tied to the family, further cementing Trump’s financial and political stake in the fast-growing sector. The scale of the family’s crypto profits could invite fresh scrutiny from Congress and financial watchdogs, particularly if the ventures’ reserves and token economics come under question. Investor Takeaway The intersection of Trump’s political influence and crypto investments could shape the policy landscape and market confidence for years to come. Trump’s Expanding Crypto Bets As Donald Trump’s tariff threats send ripples through global markets, the former president is doubling down on his crypto ambitions. His latest moves reveal a mix of economic pressure and digital asset experimentation that continues to blur the line between politics and profit. Eric Trump recently confirmed that World Liberty Financial is developing a real estate tokenization project, allowing investors to purchase blockchain-based shares in property developments. “It’s a way for regular people to own a piece of premium real estate,” he said. Meanwhile, reports indicate that Trump is considering a pardon for Binance founder Changpeng “CZ” Zhao, signaling his willingness to court the crypto community further. Taken together, these actions highlight Trump’s bullish confidence in crypto and his readiness to challenge traditional financial systems—even as his trade policies unsettle global markets.

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.