The Bank of England and the UK’s banking watchdog are holding off on granting Revolut a full banking licence as they probe whether the fintech’s internal risk systems can keep up with its rapid international growth, the Financial Times reported on Tuesday. The London-based digital finance group, which counts more than 40 million users worldwide, has been waiting for full authorisation from the Prudential Regulation Authority (PRA) after receiving a restricted UK licence in 2024 — a milestone it had hailed as a step toward a future stock market listing. According to the FT, officials at the Bank of England have sought additional assurances that Revolut will strengthen its risk management framework to match the scale of its overseas operations. The PRA is said to be examining the resilience of the company’s systems both domestically and abroad before granting approval for it to operate as a full UK bank. Neither Revolut nor the Bank of England commented directly on the report. The company instead referred to a July statement saying it was “progressing through the final stages of mobilisation.” “Given Revolut’s global scale, this is the largest and most complex mobilisation ever undertaken in the UK,” the firm said at the time, adding that “a thorough review is an expected part of the process and getting this right is more important than rushing to meet a specific date.” The Bank of England reiterated its standard position that it does not comment on individual firms. Revolut’s founder and chief executive, Nik Storonsky, has previously called securing a UK licence his “top priority,” saying in September that the goal was to transfer its British customers into the new entity and expand credit offerings once approval is obtained. The process has stretched on for several years, reflecting regulators’ heightened caution toward fast-growing fintech companies that straddle payments, banking, and crypto services. Executives remain hopeful the final authorisation will be granted this year, though people close to the process told the FT that the timetable remains uncertain given the depth of regulatory review. Revolut, valued at around $33 billion in its last funding round, has expanded aggressively across Europe, Asia, and the Americas, offering everything from stock trading to crypto investments. Its rapid diversification has drawn both investor praise and regulatory scrutiny over governance and internal controls. The PRA’s current review reflects concerns that Revolut’s compliance and risk teams have lagged behind the pace of its global rollout. Industry observers note that British regulators have become more assertive about ensuring fintech firms meet the same prudential standards as traditional banks before granting licences. For Revolut, the delay could also affect its long-mooted plans for a public listing. Analysts say full banking status in its home market would enhance the company’s credibility with investors and open access to a wider range of deposit and lending services. Still, Revolut has maintained strong customer growth despite the prolonged licensing process. Its latest filings showed record revenues in 2023 and continued expansion into new markets, including the U.S. and Australia. While the outcome of the Bank of England’s review remains pending, Revolut’s case has become a test of how far regulators are willing to accommodate fintech innovation without loosening the safeguards that underpin the traditional banking system.

Tether, the issuer of the world’s largest stablecoin, USDT, has announced plans to launch a fully open-source Wallet Development Kit (WDK) designed for iOS and Android developers. The announcement was made by Tether CEO Paolo Ardoino in a post on X, where he confirmed that the kit will include “starter wallets” for both platforms and be released this week. The WDK aims to help developers create self-custodial wallets, allowing users to maintain full control of their assets without third-party intermediaries. “The Starter Wallet is a compact, fully functional showcase of how easy and quick will be for anyone to develop a complete digital assets wallet using Tether’s Wallet Development Kit.” Investor Takeaway The Wallet Development Kit could increase developer engagement, fostering greater adoption of Tether’s ecosystem across the DeFi and fintech sectors. Tether WDK Broadens USDT Access Across Mobile and Desktop Platforms The kit is expected to feature a modular, audited codebase that simplifies integration across mobile and desktop environments while supporting direct Bitcoin and USDT transactions, according to an earlier post from Tether. Developers can also extend its functionality to include decentralized finance (DeFi) tools such as swapping and lending. According to Tether, the kit’s open-source framework is part of a broader initiative to expand access to non-custodial technologies and strengthen financial autonomy. The move comes as Tether continues to dominate the stablecoin market, with USDT holding over 60% of global market share and a circulating supply exceeding $150 billion, per CoinMarketCap data. The token remains the most used stablecoin for trading and payments, operating across major blockchains including Ethereum, Tron, and Solana. Tether’s latest effort signals a strategic shift toward open innovation and developer empowerment. By lowering technical barriers, the WDK could accelerate wallet adoption and expand self-custody options for users worldwide—further entrenching Tether’s influence in digital finance. Investor Takeaway Tether’s open-source wallet kit reinforces its dominance in the stablecoin market by empowering developers and expanding self-custody solutions. Tether Expands Reach with Different Push Tether is widening its scope beyond stablecoins through strategic moves across governance, infrastructure, and U.S. adoption. The company on October 1 unveiled a demo of its open-source Wallet Development Kit (WDK), illustrating how developers can build non-custodial wallets for USDT and the new USDT token across iOS, Android, and desktop platforms. The WDK, was said to have undergone independent security audits. In Italy, Tether proposed board changes at Juventus Football Club, where it holds a 10.7% stake, and backed a $129 million capital increase aimed at strengthening the club’s governance and financial position. Meanwhile, in the U.S., Tether is partnering with video platform Rumble, which boasts over 51 million users, to promote adoption of its USAT stablecoin. The partnership will see Rumble integrate a Tether-powered wallet, marking a significant step in bringing stablecoin payments to mainstream digital platforms.

Moomoo, the leading global investment and trading platform, has announced the return of its Global Paper Trading Competition, now in its second year. Powered by Nasdaq TotalView®, the six-week competition gives users the opportunity to trade U.S. stocks, ETFs, and options using $100,000 in virtual funds—all with zero financial risk. Participants can compete for a share of $200,000 in cash rewards while honing their investing skills in real-time market conditions. This year’s competition, themed “Moove to the Next Level”, introduces a new layer of sophistication by integrating Moomoo AI, the platform’s intelligent investing assistant. Designed to provide instant insights and simplify complex data, Moomoo AI will be available 24/7 to help participants make informed virtual trades throughout the challenge. In partnership with Nasdaq, all participants will receive one month of free access to Nasdaq TotalView®, offering full depth-of-book market data and visibility into every order and price level on Nasdaq-listed securities. This collaboration underscores Moomoo’s mission to democratize access to institutional-grade market information and empower retail investors through data transparency and education. Takeaway Moomoo’s $200K Global Paper Trading Competition merges Nasdaq data and AI tools to bring professional-grade insights to everyday investors — all within a risk-free learning environment. “Moove To The Next Level” — A Smarter, Risk-Free Learning Experience Starting October 12, 2025 (EST), traders from around the world can join the competition via the Moomoo app and compete across multiple time zones — including pre-market, intraday, and post-market hours. The event caters to investors of all experience levels, from beginners looking to build confidence to professionals seeking to refine strategies in simulated conditions. Participants will embark on an immersive, gamified journey where they complete educational tasks, track their performance, and unlock achievements. As they progress through various levels, users earn Moomoo Tokens, which can be redeemed for cash prizes at the end of the competition. For the first time, the event integrates options trading, providing a broader and more realistic market experience. “Paper trading competitions offer a valuable, risk-free way for investors of all levels to improve their skills,” said Neil McDonald, CEO of Moomoo US. “This year, we’ve added options trading, Moomoo AI, and more educational tools to help our users enhance both their trading abilities and financial literacy.” Takeaway By combining gamified learning with real-time market data, Moomoo transforms investing education into an engaging, data-driven experience. Global Prizes And Nasdaq Tower Recognition The competition features a broad array of cash rewards and recognition opportunities. The global top three participants will receive $10,000, $3,000, and $1,000 in cash, respectively. In addition, regional champions will be recognized across key Moomoo markets, including the U.S., Canada, Australia, New Zealand, Singapore, Malaysia, Japan, and Hong Kong SAR. Top performers — both globally and regionally — will receive the exclusive Moomoo × Nasdaq trophy, symbolizing excellence and innovation in trading. Select participants will also be featured in a celebration video displayed on the Nasdaq Tower in Times Square, New York, highlighting their achievements before a global audience. “The enthusiasm from Moomoo’s global community during last year’s competition underscored a growing appetite for smarter, data-driven investing,” said Brandon Tepper, Senior Vice President and Global Head of Data at Nasdaq. “By providing access to Nasdaq TotalView® Depth of Book Data, we’re helping equip retail investors with the same level of visibility as professionals, fostering financial literacy and confident decision-making.” Takeaway Winners of Moomoo’s global trading challenge can earn cash prizes, trophies, and even a spotlight on the Nasdaq Tower — blending education, competition, and recognition. AI-Powered Tools And Education At The Core Through Moomoo AI, participants gain access to a powerful digital assistant capable of answering questions, summarizing market movements, and helping users interpret trends with natural language explanations. The integration represents a leap forward in AI-assisted investing education, offering beginners a supportive guide while giving experienced traders quick analytical insights. The competition is designed to help users gain practical experience in portfolio management, asset diversification, and risk mitigation strategies—all within a safe, simulated environment. The combination of AI guidance, advanced data feeds, and community engagement enables participants to refine their investment approaches without real-world consequences. “Moomoo AI was built to make complex data accessible and actionable,” McDonald added. “Our goal is to equip every participant with the intelligence and confidence to navigate financial markets more effectively.” Takeaway Moomoo AI gives participants institutional-level analysis in an interactive, risk-free environment, helping bridge the gap between education and real-world investing. Building A Global Community Of Smarter Investors The Global Paper Trading Competition also serves as a platform for community engagement and investor education. Participants can share insights, discuss strategies, and celebrate milestones within the Moomoo social feed—creating a global forum for financial learning and collaboration. By turning investing education into an interactive experience, Moomoo aims to inspire lifelong financial literacy. “Our mission is to make investing simpler, smarter, and more inclusive,” said McDonald. “By offering competitions like this, we’re giving everyone—from newcomers to seasoned traders—a chance to learn, compete, and grow together.” Registration is open via the Moomoo app, with the competition officially beginning on October 12, 2025. Interested participants can sign up, access Nasdaq TotalView®, and begin practicing trading strategies using their virtual funds immediately after registration. Takeaway Moomoo’s paper trading competition goes beyond simulation—it’s building a global community of informed, AI-empowered investors shaping the future of retail trading.  

PrimeXBT, a leading global multi-asset broker, has introduced Apple Pay as a new deposit option, advancing its goal of creating a seamless, mobile-first trading experience. The integration allows users to fund their accounts instantly and securely directly from iOS devices, reducing friction and speeding up the funding process. Currently available for deposits in EUR, Apple Pay enables clients to top up their PrimeXBT accounts with no fees applied. Users can deposit between €30 and €2,000 per transaction, with funds credited in USD equivalents. Deposits appear instantly, providing traders with near-real-time access to capital when opportunities arise. “At PrimeXBT, our goal is to empower traders to act quickly when markets move,” the company stated. “Adding Apple Pay simplifies and accelerates funding, ensuring our clients can trade efficiently, securely, and from anywhere.” Takeaway Apple Pay brings one-tap, fee-free EUR deposits to PrimeXBT’s mobile app, reducing friction for traders who rely on speed, security, and convenience. Enhancing The PrimeXBT Mobile Experience The Apple Pay rollout complements PrimeXBT’s mission to provide a complete, mobile-optimized trading environment. The company’s native app—available on iOS and Android—delivers the full trading experience, with access to over 250 global markets including Crypto Futures, Forex, and CFDs on indices, commodities, shares, and crypto assets. Built for fast, intuitive execution, the app offers one-click trading, advanced charting via TradingView, and real-time performance analytics. Key features include: P&L dashboard and full position management tools. Integrated crypto exchange supporting fiat-to-crypto and crypto-to-crypto conversions. Real-time alerts and chart-based order management with stop-loss and take-profit controls. Security layers such as biometric login, two-factor authentication, and device-level encryption. PrimeXBT’s VIP Program also rewards active users with tiered fee reductions, while its Reward Center offers periodic incentives designed to enhance the trading experience. Together, these features create a unified ecosystem combining flexibility, performance, and safety. Takeaway PrimeXBT’s mobile app combines institutional-grade performance with everyday convenience—now enhanced by instant Apple Pay funding. Commitment To Mobile-First Innovation PrimeXBT’s integration of Apple Pay represents a key step in its strategy to make modern financial tools accessible and intuitive. The company has been steadily evolving toward a mobile-centric ecosystem where users can trade, manage funds, and execute strategies entirely on their phones. With mobile trading now accounting for a majority of retail platform usage globally, PrimeXBT is investing heavily in user experience design, payment integration, and performance optimization. Apple Pay’s secure tokenization model, combined with PrimeXBT’s platform-level safeguards, ensures swift transactions without compromising security. “The addition of Apple Pay highlights our dedication to constant innovation,” PrimeXBT said. “Our platform evolves with our clients’ needs, delivering tools that simplify their trading journey and reflect how people interact with finance today.” Takeaway PrimeXBT’s mobile-first strategy continues to evolve, combining fintech innovation and trusted security to redefine convenience in multi-asset trading.

Nexo Expands Into Forex, Commodities, and Indices via MetaTrader 5 Nexo, a leading digital assets wealth platform, has announced a major expansion into traditional financial markets through a partnership with MetaTrader 5 (MT5). Starting October 14, 2025, Nexo clients can now trade Contracts for Difference (CFDs) across global equity indices, commodities, and major forex pairs directly through the platform’s web and mobile interfaces. The integration marks Nexo’s evolution from a crypto-focused service to a comprehensive wealth platform spanning both digital and traditional assets. By leveraging MetaTrader 5’s institutional-grade infrastructure, users gain access to professional trading tools previously reserved for seasoned traders and financial institutions. “This collaboration represents a significant milestone in our mission to unite digital assets with global finance,” Nexo said in its announcement. “We’re empowering clients to participate in traditional markets while maintaining full integration with their crypto holdings.” Investor Takeaway Nexo’s MetaTrader 5 integration positions the platform as a true hybrid wealth hub, merging digital-asset management with access to forex, commodities, and index markets under one roof. New Trading Opportunities for Nexo Clients Through MetaTrader 5, Nexo users can now trade CFDs on a diverse range of global assets, including: Equity Indices: US500, US100, US30, DE40 Commodities: Gold, Silver, Oil, Platinum Forex Majors: USD, EUR, GBP, JPY, AUD With leverage of up to 200x available on certain asset classes, traders can fine-tune their exposure and strategies according to market conditions. MT5’s robust trading environment offers low-latency execution and deep liquidity, optimized for high-volume, real-time trading. Additional features include: Next-gen charting tools with built-in indicators and customizable layouts. Algorithmic trading via Expert Advisors (EAs) for automation and strategy optimization. Seamless asset transfers to and from MT5 accounts directly within Nexo’s platform. In a move that underscores Nexo’s integrated ecosystem, users can now fund MT5 accounts through Nexo’s Credit Line — borrowing against their digital assets without selling. This feature aligns with Nexo’s mission to maximize liquidity efficiency while minimizing opportunity costs for clients. Bridging Digital and Traditional Finance Nexo’s partnership with MetaTrader 5 is more than a product expansion — it’s a strategic step toward bridging the gap between digital assets and traditional markets. By offering seamless access to both ecosystems, Nexo aims to serve a new generation of investors who demand flexible, all-in-one wealth management tools. MetaTrader 5, developed by MetaQuotes, remains the global standard for multi-asset trading platforms, trusted by brokers and institutions worldwide. Its integration into Nexo enables users to trade traditional markets with the same transparency, speed, and sophistication that define crypto trading environments. “With MetaTrader 5, Nexo users gain access to institutional-grade tools, liquidity, and performance,” said a MetaQuotes representative. “This partnership brings traditional and digital finance closer than ever.” Investor Takeaway The MT5 expansion diversifies Nexo’s product mix and revenue potential — a pivotal move for investors seeking exposure to both crypto and traditional market growth cycles. Nexo’s Continued Growth and Strategic Vision Since its founding in 2018, Nexo has evolved from a crypto lending pioneer into a global wealth platform with more than $11 billion in assets under management and $370 billion in processed transactions. The platform now offers savings products, credit lines, trading tools, and crypto payment cards to millions of clients across over 150 jurisdictions. The MetaTrader 5 integration represents a continuation of Nexo’s broader strategy: to build a unified, regulated financial ecosystem where clients can grow, manage, and deploy their wealth across both decentralized and traditional channels. Availability of MT5 trading features will vary by jurisdiction as Nexo navigates regional compliance frameworks. By combining digital innovation with legacy market access, Nexo positions itself at the forefront of a new financial paradigm — one where crypto investors can diversify globally without leaving the ecosystem that built their portfolios.

Hong Kong Exchanges and Clearing Limited (HKEX) has announced the launch of Commodity Pricing and Analysis Limited (CPAL), a new subsidiary headquartered in Dubai, United Arab Emirates. CPAL will function as an independent commodities pricing administrator and market analysis hub dedicated to the global metals industry. Its mandate includes supporting the London Metal Exchange (LME)—a wholly owned HKEX subsidiary—in the development of sustainable metal premia, an initiative first unveiled in April 2025. The launch of CPAL marks a significant expansion of HKEX’s commodities business and signals a strategic push into the Middle East’s fast-growing trading ecosystem. With Dubai emerging as a global center for commodities trading, CPAL is positioned to bridge Asia’s production and demand centers with the Middle East’s liquidity and logistics capabilities, reinforcing HKEX’s role in connecting China with international markets. “The launch of CPAL in Dubai marks an exciting milestone for HKEX Group as we expand our global footprint,” said Bonnie Y Chan, Chief Executive Officer of HKEX. “The Middle East is a region of growing significance for the commodities market, and our presence there will allow us to better serve international stakeholders, deliver trusted pricing and analysis, and accelerate the development of sustainable metal markets.” Takeaway HKEX’s establishment of CPAL in Dubai extends its commodities operations beyond Asia, positioning the exchange to lead global efforts in transparent and sustainable metal pricing. Supporting The London Metal Exchange’s Sustainability Drive The move comes as the London Metal Exchange progresses with its plan to introduce sustainable metal premium pricing for LME-approved brands—a key step toward incentivizing responsible sourcing and greener supply chains across global metals markets. CPAL will serve as the pricing administrator for this new sustainability-linked framework, ensuring that price benchmarks reflect both market transparency and ESG considerations. The LME announced that it will publish a discussion paper outlining its proposed pricing methodology, which will incorporate environmental performance metrics into the determination of sustainable metal premia. This approach aligns with the broader global trend toward integrating ESG principles into commodity valuation and reporting, reflecting growing investor and consumer demand for traceable, low-carbon supply chains. Through CPAL, HKEX will deliver independent price reporting, data analysis, and verification services—functions that are increasingly critical as global markets transition toward standardized sustainability-linked trading models. The Dubai base ensures proximity to both producers and buyers in the Middle East and Africa, enhancing CPAL’s ability to monitor regional market dynamics and support LME’s international sustainability agenda. Takeaway CPAL’s role as pricing administrator for LME’s sustainable metal premia underscores HKEX’s commitment to advancing responsible commodity markets and ESG-aligned pricing transparency. Dubai’s Rising Status As A Global Commodities Hub Dubai’s prominence as a commodities and financial powerhouse provides an ideal foundation for HKEX’s new venture. In 2024, the United Arab Emirates ranked second globally—behind only the United States—in the Commodity Trade Index, which assesses nations’ capabilities across commodity wealth, logistics, and institutional infrastructure. The city also holds the top regional position and ranks 11th worldwide in the Global Financial Centres Index (GFCI 38), reaffirming its status as the Middle East’s leading financial center. By situating CPAL in Dubai, HKEX gains access to a thriving ecosystem of commodity traders, financial institutions, and logistics providers that are driving innovation in metals trading and market connectivity. This expansion also reinforces Dubai’s growing reputation as a bridge between Asian producers and Western consumers, particularly in energy transition metals such as copper, aluminum, and nickel—materials essential for renewable technologies. As global commodity flows diversify, HKEX’s move is both strategic and synergistic: it complements China’s expanding trade relationships with the Middle East while providing the LME with a stronger base in a region critical to the global energy and materials supply chain. Takeaway By selecting Dubai for CPAL’s headquarters, HKEX positions itself at the intersection of global trade routes, connecting Asian markets with Middle Eastern and Western commodity hubs. Advancing HKEX’s Global Strategy In Commodities HKEX’s expansion into the Middle East aligns with its long-term strategy to build a globally integrated commodities franchise anchored by the London Metal Exchange. Over the past several years, HKEX has increased its engagement with producers, consumers, and traders across Asia, Africa, and Europe, emphasizing price transparency, sustainability, and technological innovation in metals markets. The launch of CPAL adds a new dimension to this effort, providing the Group with a regional foothold to develop benchmark prices and analytical tools for both traditional and sustainable commodities. The subsidiary will work closely with HKEX and LME teams to deliver data-driven insights that help market participants navigate evolving price structures, risk exposures, and regulatory requirements related to environmental reporting. “This initiative reflects our long-term commitment to building a world-class commodities business, led by the London Metal Exchange, and continuing our stakeholder engagement in this part of the world,” said Chan. “Through CPAL, we are creating a stronger foundation for innovation and collaboration across global metals markets.” Takeaway The creation of CPAL strengthens HKEX’s strategic ambitions to establish a truly global commodities platform—spanning Asia, Europe, and the Middle East. Driving Connectivity Between China And The Middle East CPAL’s establishment also plays into HKEX’s broader mission of enhancing capital and trade connectivity between China and the rest of the world. As China remains one of the largest consumers of industrial metals, the exchange’s new presence in Dubai will facilitate closer engagement with counterparties in regions supplying raw materials for the global energy transition. This enhanced connectivity is particularly relevant as both China and Middle Eastern economies ramp up infrastructure investment, renewable energy projects, and manufacturing capacity tied to low-carbon industries. Through CPAL, HKEX can provide localized insights, support cross-border market participation, and promote best practices in sustainable commodities trading and price formation. As HKEX continues to evolve from an Asian exchange operator into a global market infrastructure leader, initiatives like CPAL demonstrate its vision of building a more interconnected and resilient commodities ecosystem—one capable of meeting the demands of modern supply chains and sustainable finance frameworks. Takeaway CPAL will enhance connectivity between China and the Middle East, facilitating more transparent, ESG-aligned commodity flows across key growth regions.  

New Compliance Mechanism for Tornado Cash Users 0xBow, the team behind the Privacy Pools crypto privacy project, has released a tool designed to let Tornado Cash users separate their transactions from addresses linked to hacks or illicit activity. The protocol, called Tornado Cash Proof of Association, introduces what developers describe as the first working model that balances privacy protection with compliance requirements. “We see this as a major step forward for Tornado users unfairly caught in the crossfire of enforcement, and a practical model for future privacy–compliance interoperability,” an 0xBow representative told The Block in an email. The system maintains a blacklist of more than 16,000 wallet addresses tied to thefts, scams, and hacking incidents. Investor Takeaway The tool offers a compliance pathway for Tornado Cash users still seeking privacy while distancing from blacklisted funds — a rare middle ground between regulators and privacy advocates. Addressing Tornado Cash’s Regulatory Legacy Tornado Cash, built on the Ethereum blockchain, was sanctioned by the U.S. Treasury’s Office of Foreign Assets Control (OFAC) in August 2022 for allegedly helping launder billions of dollars, including funds tied to North Korea’s Lazarus Group. While a court later ordered the protocol removed from the OFAC sanctions list, legal uncertainty persists. Some exchanges continue to question users who move funds through Tornado Cash over potential exposure to illicit capital. The Proof of Association tool allows users to generate cryptographic proof that their withdrawals come from clean sources. By using zero-knowledge proofs and privacy-preserving computations, the protocol checks withdrawal addresses against a curated list of Tornado Cash deposits, excluding tainted ones. If the funds are clear, the withdrawal address is added to a public registry as “verified,” without exposing personal information. How the System Works “By pasting your note and withdrawal address, the system will generate a proof that checks your withdrawal against a curated list of Tornado Cash deposits,” the 0xBow representative explained. “This list excludes illicit actors that have tainted the Tornado Cash protocol. If clean, their withdrawal address is added to the public Proof of Association registry, showing legitimate association, all without revealing any personal data.” The blacklist currently covers more than 16,000 addresses linked to hacks, phishing schemes, and thefts. The system, which draws from open-source investigations and community reports, is designed to evolve dynamically as new on-chain data emerges. This approach offers privacy-preserving verification while helping legitimate users separate themselves from criminal activity. Investor Takeaway By creating verifiable “clean zones” for Tornado Cash users, 0xBow’s tool could influence future compliance standards for privacy protocols on Ethereum and beyond. Privacy Pools and the Road Ahead The Proof of Association mechanism builds on concepts first introduced by Privacy Pools, a project launched earlier this year by 0xBow. It applies the idea of an “Association Set Provider”, a framework theorized by Ethereum co-founder Vitalik Buterin and a group of cryptographers, which allows users to prove legitimate origins for their assets without exposing transaction details. Privacy Pools lets users anonymize ERC-20 token transfers while avoiding the contamination risks seen in shared mixers like Tornado Cash. The project aims to provide whitelisted anonymity — enabling users to maintain privacy within defined, verifiable groups instead of global pools open to illicit actors. 0xBow co-founder Ameen Soleimani said on X that the new tool is meant to encourage responsible privacy use. “If you’re still using Tornado Cash today and not dissociating from hacked funds deposited into the protocol, you are actively helping the hackers,” he wrote. “We may have the technology, but it’s on us to use it responsibly.”  

Exchange Clarifies Cause of Apparent Token Collapse Binance said a technical glitch caused several tokens to appear as if they had crashed to $0 during Friday’s crypto sell-off, prompting confusion among traders during one of the market’s most volatile sessions of the year. In an update to users on Sunday, Binance said that IoTeX (IOTX), Cosmos (ATOM) and Enjin (ENJ) were among the assets affected by a “display issue” and not by any underlying price failure. Prices for those tokens on other exchanges remained stable, suggesting the problem was isolated to Binance’s interface. “Certain trading pairs, such as IOTX/USDT, recently reduced the number of decimal places allowed for minimum price movement, causing the displayed prices in the user interface to be zero,” Binance said. “This was a display issue and not due to an actual $0 price.” Investor Takeaway Binance’s clarification highlights the fragility of market infrastructure during extreme volatility. Even non-fatal technical errors can amplify panic in leveraged markets. Market Crash and Liquidation Wave The display error coincided with a sharp market downturn that erased up to $20 billion in leveraged positions within 24 hours — the largest single-day liquidation event in crypto history. Binance became the focus of trader frustration after the meltdown wiped out positions and triggered cascading margin calls across derivatives platforms. While Binance said trading systems were functioning normally, the coincidence between the visual error and the liquidation surge fueled speculation of deeper technical problems. Analysts said the scale of liquidations reflected the extent of leverage built up in the market ahead of Friday’s crash. Speculation Over Coordinated Attack Some traders argued the exchange may have been targeted in a coordinated exploit. A pseudonymous trader known as ElonTrades said on X that attackers could have manipulated Binance’s Unified Account feature, which relies on internal price data rather than external oracle feeds. The trader suggested that differences between Binance’s internal order book prices and external benchmarks could have been used to trigger artificial price gaps. Binance had announced earlier that it would migrate to external oracle price feeds by Tuesday, potentially leaving what ElonTrades described as a “window of opportunity” for attackers to exploit. According to his analysis, the incident caused Ethena’s USDe synthetic dollar to lose its peg, plunging to $0.65 and setting off a chain of liquidations estimated at more than $1 billion. Binance has since announced $283 million in compensation for affected users who were liquidated during the depegging event, saying it is reviewing account data to determine eligibility. Investor Takeaway The episode raises questions about exchange reliance on internal oracles and the systemic risk of high leverage. Transparency in data sources could become a new regulatory priority. Calls for Investigation The crash prompted calls for greater scrutiny of centralized trading venues. Kris Marszalek, CEO of Crypto.com, said regulators should investigate the operational resilience of exchanges that suffered heavy losses during the sell-off. “Events like these undermine confidence in centralized platforms and risk eroding trust across the broader market,” Marszalek said. Friday’s turmoil was among the most violent in months, echoing the cascading liquidations seen during the 2022 bear market. The swift recovery in prices over the weekend has calmed immediate fears, but the episode renewed debate over the adequacy of safeguards at large trading platforms and the opacity of their internal systems. For Binance, the incident adds to ongoing regulatory scrutiny in the U.S. and Europe. While the exchange moved quickly to contain fallout and reimburse users, the event highlights the tension between growth and operational reliability in the world’s largest crypto exchange by trading volume.

The Dubai Financial Services Authority (DFSA), the independent regulator of the Dubai International Financial Centre (DIFC), unveiled DFSA Connect at GITEX 2025 — the world’s largest technology and AI event. The next-generation platform represents a major leap in streamlining the application process for regulatory authorisations and approvals within Dubai’s financial ecosystem. Built to enhance speed, transparency, and user experience, DFSA Connect offers a digital-first solution that simplifies how firms apply for Authorisation to conduct Financial Services in and from the DIFC. The new platform integrates smarter automation and workflow optimisation, reducing manual input and accelerating review times for both applicants and the regulator. Throughout 2025, the DFSA has experienced an 18% increase in Authorisation applications over the previous year, reflecting continued confidence in the DIFC’s growth. DFSA Connect will enable the regulator to meet this rising demand while achieving a projected 33% efficiency gain in processing time — ensuring faster approvals and a more seamless path for firms to launch and scale within the centre. Takeaway DFSA Connect marks a major milestone in Dubai’s regulatory evolution, enabling faster, smarter, and more transparent approvals for firms entering or expanding within the DIFC. Smarter Automation And AI-Ready Workflows For Regulatory Innovation At the core of DFSA Connect is a suite of intelligent digital tools designed to eliminate manual steps, minimise delays, and enhance applicant visibility throughout the approval process. The platform’s workflow automation capabilities empower both firms and regulators to manage submissions and feedback more efficiently, ensuring applications move swiftly through each stage of review. Looking ahead, DFSA Connect is AI-ready, with advanced features planned to personalise the applicant experience and provide real-time recommendations. This next phase of the digital transformation will enable dynamic interactions, tailoring the process to the specific needs of applicants while maintaining the DFSA’s high regulatory standards. The result will be faster approvals, enhanced oversight, and more consistent outcomes across the financial services ecosystem. “DFSA Connect represents a step-change in how we support innovation and growth in the DIFC,” said Juma Thani Alhameli, Chief Operating Officer of the DFSA. “By deploying cutting-edge digital capabilities and preparing for advanced AI integration, we can respond faster, operate smarter, and deliver tailored solutions that meet the evolving needs of individuals and businesses alike – deepening trust with current firms and broadening opportunity for prospective ones.” Takeaway The DFSA’s digital-first approach merges automation with AI-readiness, ensuring its regulatory processes evolve alongside Dubai’s expanding financial ecosystem. Driving Dubai’s Global Financial Competitiveness DFSA Connect forms part of the regulator’s broader digitalisation journey, a strategic transformation aimed at positioning Dubai as a global benchmark for innovation-led financial supervision. Over the past year, the DFSA has redefined its technological framework to build a more efficient, user-centric experience for applicants while maintaining its reputation for robust governance and integrity. By introducing digital approvals and automated workflows, the DFSA not only accelerates access to the DIFC but also strengthens the emirate’s appeal as a top-tier destination for international finance and fintech innovation. The launch reinforces Dubai’s commitment to advancing its financial infrastructure through responsible innovation and smart regulation. “DFSA Connect underscores our ongoing commitment to enabling innovation responsibly, broadening and deepening the financial services sector, and strengthening Dubai’s position as a world-class centre for finance and technology,” the DFSA stated. With its combination of efficiency, transparency, and AI potential, DFSA Connect exemplifies how regulators can balance agility with accountability in a rapidly evolving financial landscape. Takeaway Through DFSA Connect, the Dubai Financial Services Authority cements the DIFC’s global leadership as a smart, innovation-driven hub for finance and regulation.  

German authorities have dismantled more than 1,400 illegal online trading domains operating out of Eastern Europe, marking one of the largest coordinated crackdowns on cybertrading fraud in the region, officials said Monday. The effort—codenamed Operation Heracles—was led by the Baden-Württemberg state criminal police in cooperation with Germany’s financial regulator BaFin, Europol, and Bulgarian law enforcement. Investigators said the networks were part of a sprawling web of fraudulent trading schemes targeting retail investors across Europe. According to officials, users of the shuttered websites were lured through sophisticated online ads and social media campaigns before being connected to brokers working from call centres abroad. The brokers convinced victims to invest substantial sums, often promising high returns through forex, crypto, or stock trading. “In many cases, it took months for the victims to realise their money was never actually invested,” the agencies said in a joint statement. Birgit Rodolphe, an executive director at BaFin, said the fraud rings had become increasingly advanced, using artificial intelligence tools to mass-produce fake trading websites and copy legitimate financial platforms. “The perpetrators are becoming increasingly professional,” she said. “They use artificial intelligence to churn out illegal websites and use them to lure investors into traps.” The latest operation follows a similar action in June, when German and European authorities took down around 800 illegal domains. Since that intervention, investigators have recorded roughly 20 million attempts by users to access those previously blocked sites—an indicator, officials said, of both the scale of the problem and the persistence of the operators behind it. Authorities said Operation Heracles specifically targeted the infrastructure supporting the scams, disabling the domains and seizing related digital assets where possible. “The measures significantly weakened the criminal actors by specifically disabling their technical infrastructure,” the joint statement said. German and EU regulators have faced mounting pressure to curb the surge in online investment scams, which often exploit retail traders seeking quick gains amid volatile crypto and stock markets. The schemes frequently mimic regulated brokers and use convincing interfaces to simulate trading activity, making detection difficult even for experienced investors. Officials said investigations into the individuals and companies behind the network remain ongoing. Europol is coordinating cross-border data analysis to trace funds and identify those responsible for running the call centres and payment processors linked to the fraudulent platforms. The crackdown reflects a broader European push to tighten oversight of online trading and digital assets. BaFin has repeatedly warned investors to verify the registration status of any financial service provider before depositing funds. The regulator also urged internet service providers and hosting companies to cooperate swiftly with takedown requests. For victims, however, restitution remains uncertain. Many of the call centres are believed to operate from jurisdictions with limited enforcement cooperation, complicating recovery efforts. Still, authorities framed the mass takedown as a decisive step in blunting a rapidly evolving form of financial crime. “Operation Heracles shows what can be achieved through coordinated European enforcement,” a senior investigator said. “

KEY TAKEAWAYS A crypto map links IPsec VPN policies, peers, encryption, and ACLs to router interfaces. Manual crypto maps use static keys and fixed settings, ideal for labs or controlled setups. Key prerequisites: configured ACL, transform set, peer IP, and session keys. The transform set defines encryption and authentication algorithms like AES and SHA. ACLs mark which traffic gets encrypted between local and remote networks. Apply the crypto map to the correct outgoing interface to activate the VPN tunnel.   Manually configuring a crypto map is a fundamental skill in managing secure IPsec Virtual Private Networks (VPNs), particularly on Cisco routers and similar network devices. Crypto maps define how traffic is encrypted and secured between two endpoints by associating policies for IPsec tunnels.  This step-by-step guide explains how to manually configure a crypto map to establish and secure site-to-site VPN connections, ensuring protected communication over public or untrusted networks. What Is a Crypto Map? A crypto map is a configuration entity used primarily in IPsec VPN setups on routers and firewalls. It binds together key VPN components, including the peer address, security protocols, encryption algorithms, and the traffic selectors that specify which data should be encrypted. Crypto maps provide a way to apply these settings to a router interface, controlling the flow of secured traffic. Why Configure a Manual Crypto Map? While dynamic crypto maps support automatic key management protocols like IKE (Internet Key Exchange), manual crypto maps require static security keys and explicit policy definitions. Manual configuration is ideal for controlled or test environments where fixed keying is acceptable or necessary. Though less secure in general deployment, understanding manual crypto map configuration aids troubleshooting and foundational VPN knowledge. Key Concepts Before You Begin Before configuring a crypto map, it’s essential to understand the components it depends on. ISAKMP (Internet Security Association and Key Management Protocol): ISAKMP defines how VPN peers establish a secure channel for key exchange and authentication (Phase 1 of IPsec negotiation). IPsec Transform Sets: A transform set defines the encryption and hashing algorithms used during IPsec Phase 2 negotiation. Common examples include: esp-aes esp-sha-hmac (AES encryption with SHA hashing) esp-3des esp-md5-hmac Access Lists (ACLs): ACLs identify the traffic that must be protected by IPsec. Only packets matching the ACL are encrypted. Crypto Map Sequence Numbers: A crypto map can contain multiple entries (identified by sequence numbers) to support multiple peers or policies on the same interface. The lower the number, the higher the priority. Prerequisites for Configuring a Crypto Map Before diving into the configuration, ensure these prerequisites are met: Access to the router’s command-line interface (CLI) with appropriate admin privileges. A preconfigured Access Control List (ACL) defining the VPN traffic to encrypt. An existing transform set that specifies encryption and authentication algorithms. The public or reachable IP address of the peer VPN device. Static keys or preshared keys if configuring manual cryptography. Basic knowledge of router interface configuration. Step-by-Step Guide to Manually Configure a Crypto Map Follow these detailed steps to create, apply, and verify a crypto map configuration on your network device. Step 1: Define or Verify Your ACL An ACL identifies the “interesting traffic” that will be assuredly encrypted and sent through the VPN tunnel. This ACL typically permits traffic from your internal subnet to the remote subnet over IPsec. Example (Cisco syntax): text ip access-list extended VPN-TRAFFIC permit ip 192.168.1.0 0.0.0.255 10.0.0.0 0.0.0.255 This ACL permits traffic from the local subnet 192.168.1.0/24 to the remote subnet 10.0.0.0/24. The ACL name (VPN-TRAFFIC) will be referenced later in the crypto map configuration. Step 2: Create or Confirm a Transform Set A transform set determines the security protocols and algorithms, such as encryption (AES, 3DES), hashing (SHA, MD5), and tunnel mode for the IPsec security associations (SAs). Example: text crypto ipsec transform-set TS esp-aes esp-sha-hmac This transform set, named “TS,” uses AES encryption and SHA for authentication. Step 3: Create the Manual Crypto Map Now, create the crypto map entry binding all the components of the VPN configuration. The basic structure of a Cisco device is: text crypto map CMAP 10 ipsec-manual set peer <peer-ip-address> match address VPN-TRAFFIC set transform-set TS set session-key { inbound | outbound } { ah ah_spi key | esp esp_spi cipher key authenticator } Explanation of key commands: Crypto map CMAP 10 ipsec-manual: Creates or references a crypto map named CMAP, sequence number 10, using manual IPsec. Set peer: Sets the remote peer’s IP address. Match address: Links the crypto map to the ACL for traffic selection. Set transform-set: Points to the transform set created earlier. Set session-key: Specifies static keys used for authentication and encryption (this key must match on both ends). Example with actual values: text crypto map CMAP 10 ipsec-manual set peer 203.0.113.2 match address VPN-TRAFFIC set transform-set TS set session-key inbound esp 0x12345678 0xabcdef1234567890 0xfedcba0987654321 Step 4: Apply the Crypto Map to an Interface You need to apply the crypto map to the outgoing interface through which the VPN traffic exits. Example: text interface GigabitEthernet0/1 crypto map CMAP This binds the crypto map CMAP to the interface GigabitEthernet0/1. Only one crypto map can be applied to an interface. Step 5: Verify the Crypto Map Configuration Once configured, verify the crypto map settings and status with: text show crypto map show crypto session These commands will display the crypto map details, peers, and tunnel statuses, allowing confirmation that the configuration is applied correctly and tunnels are negotiating. Important Notes and Best Practices When configuring a crypto map manually, these are what to consider and practice: Security Keys: Manual crypto maps use static keys that require careful management and matching on both ends. Avoid using manual IPsec in production unless necessary. Sequence Numbers: Use sequence numbers (like 10 in the example) to order policies if multiple entries exist in your crypto map. Transform Sets: Choose cryptographic algorithms compliant with current security standards; AES and SHA2 are recommended. ACL Accuracy: ACLs must precisely identify the interesting traffic; incorrect ACLs can cause VPN traffic not to be encrypted or dropped. Interface Application: Applying the crypto map to the correct interface is crucial, as it controls outbound VPN traffic. Troubleshooting Tips If your crypto map configuration isn’t working as expected, here’s what to do: If tunnels fail to come up, check static keys for exact matches. Verify ACLs allow traffic between specified subnets. Use debug crypto isakmp and debug crypto ipsec commands for deeper insight into negotiation failures. Confirm interface configurations are correct and that no conflicting crypto maps exist. Ensure the peer IP is reachable and not blocked by firewalls. Mastering Manual Crypto Maps: Building the Foundation for Secure IPsec VPNs Manually configuring a crypto map is a multi-step process that binds your VPN’s encryption policies to network traffic. Starting with ACL and transform set definition, it requires creating a crypto map entry, specifying the peer, and defining static keys for authentication and encryption. The final step is applying the crypto map to the correct outgoing interface, ensuring secure communication across the VPN tunnel. This process, while more manual and less common than auto-configured IPsec setups, remains essential for certain controlled environments, troubleshooting, and foundational network security. FAQ What is a crypto map in IPsec VPNs? A crypto map defines how traffic is encrypted, specifying peers, encryption algorithms, and policies for secure communication between VPN endpoints. Why use a manual crypto map instead of a dynamic one? Manual crypto maps use static keys and fixed configurations, ideal for lab setups or tightly controlled environments where automated negotiation isn’t required. What are the main components needed before configuring a crypto map? You need an ACL for VPN traffic, a transform set defining encryption algorithms, peer IP addresses, and static or preshared keys. What does a transform set do in IPsec configuration? It defines the encryption and hashing methods, like AES or SHA, that secure VPN data during Phase 2 negotiation. How do access lists (ACLs) work with crypto maps? ACLs identify “interesting traffic” that should be encrypted and sent through the VPN tunnel between specific subnets. What’s the purpose of crypto map sequence numbers? Sequence numbers prioritize multiple crypto map entries, with lower numbers having higher precedence. How do you apply a crypto map on a router? After configuration, apply the crypto map to the router’s outgoing interface to activate the VPN encryption policies. What are the common troubleshooting steps if the tunnel fails? Check static key matches, ACL accuracy, peer reachability, and use debugging commands like debug crypto isakmp and debug crypto ipsec.

Since October 1, 2025, most federal activities have been on hold because Republicans and Democrats couldn’t agree on a budget. This means that essential government institutions, such as the Securities and Exchange Commission (SEC), which is in charge of approving ETFs, are only able to work with a small number of people.  As a result, 16 crypto ETF applications, including ones that follow Solana, XRP, Litecoin, and Dogecoin, are still awaiting a decision. There were speculations of how October would be a big month for crypto ETFs, but now another 21 applications filed early in the month are also facing delays that aren’t clear yet. Deadlines pass, and the silence from regulators persists as long as the government budget standoff lasts.​ Long-lasting Political Deadlock Congress is split on a number of important topics, so there may not be a quick answer. Republicans want to cut spending to help lower the national debt, which is currently over $37.8 trillion. They also want to give more money to the border patrol. Democrats, on the other hand, are fighting against proposed cuts to healthcare and are asking for an extension of tax credits that are meant to slash insurance prices.  Both chambers are still on pause for legislative sessions, meaning there is no way for the federal government to start working again unless both houses pass funding bills or a temporary measure called a continuing resolution, which President Donald Trump must then sign into law. Republicans are in charge of both houses of Congress, but they don’t have the supermajority in the Senate that they need to pass budget measures without help from Democrats. This is the 11th shutdown in U.S. history and the first following the record 35-day closure from December 2018 to January 2019.​ The Crypto Industry is Ready For an Aftershock Once the government reopens, analysts agree that the SEC will quickly approve a large number of pending crypto ETFs. This is known as the “floodgates” bursting. Nate Geraci, head of NovaDius Wealth Management, thinks that a lot of people will approve the products. He points out that it’s ironic that fiscal deadlock is holding up products that are appealing because they are not tied to typical political drama and the growing government debt. Bitfinex analysts have previously suggested that approval of these crypto ETFs could initiate a new altcoin season, making it easier for investors to access a broader range of crypto assets with reduced risk. The possibility of a wide range of ETFs being approved is significant, given the ongoing discussion over how to regulate cryptocurrencies and what the future holds for digital asset investment products in the U.S.​ What Happens Next? To end the shutdown, all parties must agree on fresh federal funds, and then the government must act quickly, and the president must sign off. The backlog of crypto ETF applications highlights both the opportunities and the risks that U.S. politics and regulations present for the rapidly evolving digital asset sector.​ 

Crypto.com CEO, Kris Marszalek, has urged global regulators to open investigations into major cryptocurrency exchanges following last week’s sudden $19 billion market crash.  The CEO accused certain platforms of shady practices and possible market manipulation, saying that users deserve accountability and transparency in the aftermath of such massive liquidations. Regulators should look into the exchanges that had most liquidations in the last 24h and conduct a thorough review of fairness of practices. Any of them slowing down to a halt, effectively not allowing people to trade? Were all trades priced correctly and in line with indexes?… pic.twitter.com/UCD6iKuKFQ — Kris | Crypto.com (@kris) October 11, 2025 Kris’ remarks come amid intense scrutiny in the broader crypto community over how exchanges handle margin calls, liquidations, and order execution in volatile market conditions. The statement now shakes the confidence across the crypto market and could spark regulatory attention that would push exchanges into more transparent operations. Investor Takeaway Regulatory scrutiny following Marszalek’s comments may accelerate the push for clearer oversight of crypto trading platforms, potentially impacting exchange operations and investor confidence. What is the Crypto.com CEO Demanding? Following a sudden $19 billion liquidation that erased weeks of gains and left traders stunned in the past week, Crypto.com CEO Kris has released public statements on X, pushing for investigations into how exchanges manage risk, set margin calls, and respond during market volatility.  As reported, the exchange boss stated that users deserve clear and fair markets and probed into how billions vanished in hours.  He further implied that some platforms may be operating with “Chinese-wall” divisions or conflicting interests between their exchange operations and trading desks. This Chinese wall refers to internal barriers meant to prevent conflicts of interest between exchange operations and proprietary trading desks. Critics, such as Kris Marszalek, argue that some platforms blur these lines and capitalize on market swings for profit. He called for greater auditability, public disclosure of liquidation mechanics, and surveillance measures to ensure that liquidation events don’t unfairly penalize retail users. The CEO also suggested regulators examine whether exchanges executed forced liquidations in opaque ways that magnified selling pressure. Kris’ demands have resonated in crypto communities already reeling from heavy losses. Some users report that during the crash, they observed inconsistent pricing across exchanges, extreme slippage, or orders being filled at disadvantageous levels. These behaviors, they suspect, may benefit large counterparties. Investor Takeaway Kris Marszalek’s demand for investigations highlights the urgent need for clearer risk management frameworks and auditability within major crypto trading platforms. Regulatory Pressure and Kris’ Potential Impact By calling the attention of global regulators, Crypto.com CEO is aiming to turn a market breakdown into a governance moment. The $19 billion crash exposed how vulnerable markets remain to cascading liquidations and other risks that highlight the failure in exchange design. If regulatory investigations are launched, exchanges may be forced to implement stronger risk controls, more transparent liquidation systems, and better separation of trading operations. That could improve trust and reduce retail users’ fear of “exchange black boxes.” In the short run, the CEO’s statements may also influence perception and capital flows. Investors may favor platforms with more robust risk architectures and reputational clarity. Exchanges seen as opaque or unfair could suffer liquidity outflows or reputational damage. However, regulation is not guaranteed, and time will tell if the Crypto.com CEO’s scrutiny could catalyze a new push for regulatory intensity in crypto markets.

In September, China’s exports rose by an astonishing 8.3% from the previous year, reaching $328.6 billion. This comeback marks the fastest growth in six months, surpassing the 4.4% rise in August and the 6% increase predicted by experts.  The main reasons for this gain were a recovery in global manufacturing, more demand from markets outside the US, and shipments that were sent early to get ready for China’s big “super golden week” holiday in early October Imports Reached Their Highest Level in 17 Months Imports in September were 7.4% higher than a year earlier, exceeding the 1.5% analysts had expected and marking a significant increase from August’s 1.3%. At $238.1 billion, this was the most significant increase in over a year.  This was due to both higher domestic demand and people buying things faster because they thought trade policy would change, and holidays were coming up. The increased volume of imports suggests that China’s industrial and consumer sectors are continuing to revive.  Growth Despite Trade Issues China had a trade surplus of $90.45 billion in September. The headline surplus was slightly lower than market expectations, but it remains a substantial number, indicating that China’s trade position remains strong.  The surplus with the US grew even though direct trade between the two countries (both exports to the US and imports from the US) fell because of higher tariffs. Shipments to the US fell by 27%, but shipments to the EU, ASEAN, Africa, and Latin America multiplied, making up for the loss in shipments to the US.  Key Drivers of Recent Performance Several factors contributed to the upbeat trade data: Chinese manufacturers have successfully diversified export destinations away from the US, capitalizing particularly on rising demand in the EU and emerging markets.​ Specific product categories, such as ships, semiconductors, and automobiles, posted exceptional year-over-year increases.​ Expansionary policies in China and abroad have buoyed global manufacturing demand.​ Nevertheless, trade officials caution that sustaining this momentum into the year’s final quarter will be challenging, citing a complex external environment, the potential implementation of new US tariffs, and a high comparison base from late last year.​ Market Outlook in Times of Uncertainty China is in a better position to negotiate with Washington in ongoing trade talks because exports and imports are both multiplying. However, the future remains uncertain due to escalating trade war rhetoric, shifting export restrictions (notably on rare earth commodities and technology), and the potential for additional US tariffs. In short, China’s trade performance in September 2025 demonstrates its adaptability and strength, a positive trait in a world economy that is otherwise very unstable.

In the crypto space, profits can multiply within a short time, but so can losses. Many traders hop on leveraged trading with the expectation that it will double or triple their returns. However, one wrong market move can eliminate their entire position. This harsh wake-up call is called liquidation.  The crypto market doesn’t experience this situation alone, as it happens in traditional markets too. However, the difference is speed and volatility. In crypto, your margin can vanish before you have time to react. In this article, we’ll explain what happens when you get liquidated in crypto, and what can be done to prevent it from happening.  Key Takeaways Liquidation occurs when your margin is unable to cover losses, and the exchange closes your trade automatically. Understanding how liquidation works helps traders manage risks and prevent instant account wipeouts.  Disciplined, smart trading is the ideal defense against liquidation and long-term portfolio loss. It’s the platform’s safety system to recover the borrowed funds when the market moves against you.  What Does Liquidation Mean in Crypto? Liquidation happens when a trader’s position is automatically closed by the exchange because they don’t have enough funds to keep it open. It is the platform’s way of ensuring that borrowed money is repaid before losses become too massive.  When you trade with leverage like 10x, you’re borrowing funds from the platform to open a bigger position than your account balance’s capacity. While this can multiply profits, losses can also occur. If the market moves in the opposite direction, a small price change can affect your collateral.  Liquidation usually happens in margin trading, derivatives, and futures. It is a reality check for traders and a safety mechanism for exchanges. It protects the platform from irredeemable losses. For traders, it’s a reminder of how risky leverage can be when not properly managed.  Step-by-Step Process of How Liquidation Works Liquidation might sound complicated, but it’s the process that occurs when your losses become too big and the exchange steps in to protect itself. Here’s a breakdown of how it happens. 1. You use leverage to open a trade Leverage in crypto means borrowing money from the exchange to trade with more than you have. For instance, if you have $50 and you use 10x leverage, you’re now trading with $500. While it can multiply your profits, it also multiplies your losses if the market doesn’t move the right way.  2. You add your margin Your margin or collateral is the money you put up to support your trade. It is similar to a safety deposit. The exchange holds this amount to foot any losses. If your losses are below the margin, your trade stays open. 3. The market moves against your position If you predicted that Bitcoin’s price would rise, but it falls instead, it means the price is moving against you. Every dollar that Bitcoin drops reduces your profit. After some time, your losses begin to eat into your margin. As the market moves against you, your margin balance becomes smaller.  4. Your margin level gets into a danger zone Every exchange has a maintenance margin. This concept is the minimum balance you must keep to hold your position. If your losses push your balance below the maintenance margin, your position becomes unsafe. The exchange gives you a warning or margin call at this point, so that you can add more funds to keep your position open.  5. You reach the liquidation price If you don’t add more money or if the market moves against you very fast, you’ll reach the liquidation price. This point is where the exchange decides to close your trade automatically. The platform does this to ensure it recovers the money you borrowed before your losses exceed your margin. When this happens, you lose control as you can’t reverse or stop it.  6. You lose your collateral The platform uses your margin balance to cover the loss. Once it is gone, the trade ends, and your balance displays a significant drop. If the market moves very fast, the exchange might charge you a liquidation fee for processing the forced sale.  How To Avoid Getting Liquidated in Crypto Liquidation can happen within a very short time, especially in a volatile space like crypto. However, you can prevent this from happening if you manage your risk and trade smartly. Here are some steps to get started. 1. Use lower leverage The higher the leverage, the smaller the price move needed to wipe your balance out. If you’re using 10x, 20x, or 50x, it might be risky for you. Instead, start with lower leverage, such as 2x or 3x, especially if you’re still a beginner.  2. Always set a stop-loss A stop-loss automatically ends your trade when the price gets to a certain point. It helps you control losses before they hit your liquidation price. Also, it is best to exit early and protect your balance. 3. Don’t trade with all your capital Avoid putting your total balance in one leveraged trade. Set aside some funds as a safety buffer. If you go all in and the market doesn’t move in your favor, you’ll have nothing to add when a margin call comes. 4. Don’t ignore market conditions Liquidation usually occurs when traders don’t pay attention to the bigger picture. Always check the trend before you open a position. Avoid high leverage during market crashes, low liquidity, or major news events.  5. Stay calm and don’t overtrade After a loss, some traders are often tempted to jump back into another trade because of frustration. Instead, take a step back, assess your mistake, and return when you have a clear plan.  Conclusion – Learning From Liquidation Before It Happens Liquidation is one of the painful occurrences every trader wants to avoid but can learn from. It’s a reminder that leverage can be powerful and dangerous when used without care. The goal isn’t to fear the crypto market; it’s to stay alert, trade smarter, and protect your capital before emotions take over. Avoiding liquidation isn’t luck; it’s planning, discipline, and respect for risk. Once you master these, the crypton market becomes a pathway for growth and not regret. 

Cyprus’s capital market is standing at a turning point as regulators move to tighten oversight, embrace digital resilience, and revive investor confidence. In an interview with Forbes (Phileleftheros edition), Cyprus Securities and Exchange Commission (CySEC) chairman Dr. George Theocharides outlined the challenges and ambitions of the island’s financial sector as it adapts to a fast-changing regulatory and technological landscape. “The role of CySEC is to ensure a stable, transparent, and effective environment that protects investors and supports growth,” Theocharides said, describing a market where innovation collides with rising scrutiny. From artificial intelligence to crypto assets and sustainability rules, the range of issues now confronting regulators is broader than ever. Theocharides said the Commission’s work increasingly revolves around managing emerging risks—particularly from AI-driven products, finfluencers, and online scams—while guiding firms through the MiCA and DORA frameworks introduced by the European Union. Under the DORA regulation, which takes effect in early 2025, financial firms will be required to build stronger systems against cyber incidents and operational disruptions. Theocharides said CySEC has issued policy guidance to help supervised entities meet these requirements and will conduct checks to ensure compliance. “Supervised entities must have plans in place for digital resilience, including identifying risks from third-party providers such as cloud services,” he noted. “They must also report serious digital security incidents directly to the authorities.” CySEC’s next step, he added, involves acquiring a specialized monitoring system to strengthen oversight across the sector. The MiCA rulebook and crypto transition The EU’s Markets in Crypto-Assets (MiCA) regulation, which sets a harmonized framework for crypto service providers, is being rolled out in Cyprus with what Theocharides called “an orderly transition.” CySEC suspended new license applications for crypto-asset providers under the old national regime in October 2024, giving firms time to adjust to MiCA’s stricter requirements. One firm has already been licensed under the new regime, while 16 more applications are under review. Beyond licensing, the rule brings Cyprus closer to a uniform EU standard that focuses on investor protection and accountability. “MiCA sets a demanding but necessary framework,” Theocharides said. “It gives investors confidence that crypto operations are properly supervised.” Market integrity over quick profits The CySEC chief voiced concern over unlicensed online promoters who target young investors with promises of fast money through high-risk or illegal schemes. “It’s worrying to see individuals on social media promoting financial products without authorization,” he said. “They display a glamorous lifestyle and lure people into believing in quick and unrealistic profits. We keep reminding investors that if something sounds too good to be true, it probably isn’t.” CySEC launched a digital education portal with articles, videos, and quizzes designed to help retail investors recognize misleading offers and spot fraudulent activity. The Commission also tracks how licensed firms market investment products online, including those using influencers. On the environmental front, Cyprus is still in the early stages of building a market for sustainable finance. But Theocharides said investment firms and fund managers must already integrate environmental, social, and governance (ESG) factors into their decision-making and provide reliable sustainability disclosures. “Sustainability cannot be treated as a box-ticking exercise,” he said. “It must be part of each firm’s strategy and communication.” Reviving the Cyprus Stock Exchange CySEC is also working with stakeholders to revive the Cyprus Stock Exchange (CSE), long seen as underused compared with other European bourses. The Commission organized a roundtable earlier this year to explore ways of bringing new life to the market. “There’s clear potential to enrich the CSE with new investment products,” Theocharides said, citing possible listings from startups and tech-driven firms that could attract younger investors. He added that completing the CSE’s planned privatization would create the conditions for a more efficient market, enabling local companies to raise capital for expansion and innovation. Theocharides, who also chairs the Risk Standing Committee of ESMA, sees Cyprus’s capital market evolving into a more connected and credible regional hub. He said the Commission’s efforts are guided by three principles: investor protection, transparency, and long-term stability. “Effective supervision is not a barrier to growth,” he said. “It’s the foundation for a healthy and trustworthy market.”

Solana has remained relatively stable, slightly below $200, after bouncing back from a low of $173 following the market crisis on October 10. SOL was up 8% in the last 24 hours, but it’s still down 14% for the week and 19% for the month. That’s a significant 32% drop from its January highs. Spot volume is at $12 billion, and derivatives volume is up to $32.4 billion in the previous 24 hours, which suggests that traders are slowly reopening their positions after the recent sell-off.​ TVL and DEX Volume Keep Going Down Solana’s on-chain data shows that dealers and DeFi customers are being careful. The amount of trading on decentralized exchanges (DEXs) has been steadily going down since the crash, dropping from $8.37 billion on October 10 to $5.84 billion on October 12.  The total value locked (TVL) dropped to roughly $10 billion before rising to over $11 billion, indicating that people remain uncertain about the market’s direction. Solana’s stablecoin market worth rose by 8% to $16.2 billion over the week, which is interesting because it suggests that investors are waiting for better entry indications.​ ETF Approval and Major Network Upgrades Two major factors could change Solana’s short-term prospects. First, the U.S. Securities and Exchange Commission will vote between October 28 and November 15 on whether to approve a spot SOL ETF. The odds are 90% that it will be approved. Any positive ruling could attract substantial institutional capital, similar to what happened with other major cryptocurrencies after ETFs were introduced. Second, the upcoming Alpenglow update, which aims to speed up transaction finality, and the public test of the Firedancer validator client are also examples of network upgrades that promise to make Solana’s network more reliable and efficient. This could bring in fresh DeFi liquidity.​ Levels of Price and Technical Analysis The relative strength index (RSI) is at 43, which means that Solana is still consolidating below the $200 resistance level. The price is currently capped by short-term moving averages between $210 and $220, while longer-term moving averages between $186 and $198 could provide support.  If SOL can stay above $185–$190 and break through the mid-$200 resistance, it might start to rise again. If not, it could test support around $170–$180 again, which could lead to more consolidation in the near future.

Privacy-focused token Zcash (ZEC) spearheads a major altcoin rally, surging over 370% in the last month. The rally is driven by new institutional access via Grayscale’s ZEC Trust and high-profile endorsements highlighting its shielded transaction technology. Zcash Price Prediction optimism is fueled by ZEC breaking multi-year resistance levels and a potent derivatives short squeeze. Trending Zcash The cryptocurrency market is experiencing significant capital rotation, with attention shifting decisively to the privacy sector, driven by Zcash’s (ZEC) spectacular performance. Zcash has emerged as the standout large-cap performer, demonstrating a powerful reversal that has erased three years of downtrend within a single week. At the time of writing, Zcash is trading around $237.79, having recorded over 35% gains in the last 24 hours alone, with its 24-hour trading volume surpassing $1.4 billion. This meteoric rise, which saw the price break above the $260 level and reach a three-year high of $274 before retracing, has put the privacy coin in a class of its own. Why Is Zcash Price Surging? Privacy Coin Mania Grips the Market The Zcash rally is fueled by an intersection of robust, technical and fundamental drivers, ultimately driven by an increasing appreciation for financial privacy in the days of digital communication. It is no longer a fringe topic but an imperative feature set that will redefine the future of digital asset development. Institutional Interest and Access One of the primary drivers is the breakthrough in institutional accessibility. Grayscale, a major digital asset manager, recently launched a dedicated Grayscale Zcash Trust, making it significantly easier for institutional investors to gain exposure to ZEC and fueling confidence in its long-term potential. This move has increased the possibility of a future ZEC ETF filing, making Zcash a more appealing diversification play beyond the traditional Bitcoin and Ethereum portfolio allocations. High-Profile Endorsements and the Privacy Narrative The rally was fueled by high-profile support from prominent figures in the crypto and venture capital community. Venture capitalist and AngelList co-founder Naval Ravikant provided a powerful endorsement that resonated across the community, framing Zcash as a hedge that is required: “Bitcoin is insurance against fiat. ZCash is insurance against Bitcoin.” Bitcoin is insurance against fiat. ZCash is insurance against Bitcoin. https://t.co/rqMrR3bW7O — Naval (@naval) October 1, 2025 This quote reignited the privacy debate, highlighting that Zcash, through its zero-knowledge proofs, offers stronger privacy protections than Bitcoin, which has a public and traceable ledger. The endorsement of this “old coin, new endorsement” narrative has coincided closely with the sharp price rise. Furthermore, the CEO of Helius Labs, Mert Mumtaz, underscored the necessity of privacy: “a world where crypto succeeds but privacy doesn’t is a dystopian nightmare,” and highlighted Zcash’s “stronger privacy and scale design.” Mumtaz, a vocal backer who called for the token to hit $1,000, stated that he “love[s] shilling privacy stuff because it actually ends up making a difference in the privacy properties of these systems.” gorgeous chart The amount of ZEC being shielded on Zcash is going up and to the right over time I love shilling privacy stuff because it actually ends up making a difference in the privacy properties of these systems (see the rightmost vertical bump) $1,000 pic.twitter.com/E3Y5NclR4A — mert | helius.dev (@0xMert_) October 6, 2025 Regulatory and Technological Implications for Zcash Price Prediction The timing of this rally aligns perfectly with increasing global concerns over financial surveillance. The growing discussions about financial censorship and government oversight are pushing investors toward privacy solutions. Former White House advisor and Zcash advisory board member Thor Torrens noted the long-term trend: “Surveillance and censorship is increasing not decreasing. privacy will continue to become more valuable not less. More and more people will become aware of how visible they truly are online.” This sentiment is especially compelling when applied to legislated proposals, such as the EU’s draft legislation “On Chat Control,” which proposes monitoring users’ private messages. Such a context makes privacy tokens such as ZEC a compelling hedge and investment vehicle. Ecosystem Developments Fueling Demand The technical story behind Zcash is also strong. The network’s mobile wallet, Zashi, now supports cross-chain swaps into shielded ZEC, enhancing user utility and privacy. Furthermore, Zcash’s tokenomics are similar to Bitcoin’s, featuring a scarce, mineable token with a 21 million maximum supply, with a halving scheduled for November 2025 expected to further reduce supply and boost scarcity-driven demand. Technical Analysis Reveals Zcash Price Prediction and Potential The recent surge has flipped the technical chart for ZEC decisively bullish, though the speed and magnitude of the move warrant caution. Current Momentum and Overbought Signals The Relative Strength Index (RSI) on the weekly chart reads 91, a historically high number that signals the rally is severely overheated and bears the risk of a potential short-term reversal or cooling-off period. Conversely, the Moving Average Convergence Divergence (MACD) holds a steady upward trend above the zero line, confirming the consistent, rising bullish momentum. Technical Forecast and Zcash Price Prediction This provides a clear Zcash Price Prediction framework: Immediate Resistance: The local peaks around the psychological $300.00 level pose the most immediate resistance. A clean break above $300.00, potentially targeting the previous correction level at $303, would signal a continuation of the rally. Ultimate Resistance/Bull Target: A decisive push past $303 could extend the rally toward ultimate multi-year target at $374. Analysts are already eyeing long-term targets of $471–$522. Key Support Levels (Buy Opportunity): Due to the bearish divergence on the daily RSI, a pullback is healthy and anticipated. The most critical short-term support zone is the psychological $200 level, reinforced by the 0.5 Fibonacci level at $195. If momentum fades and profit-takers dominate, ZEC is likely to retrace to the major support at $177, with the Parabolic SAR at $124 serving as the critical “bearish flip” level that bulls must defend. Source: TradingView.com Overall, the chart suggests that while volatility is extremely high, the structural breakout and institutional support mean that dips are likely to be treated as buying opportunities, strengthening the long-term Zcash Price Prediction outlook. Institutional & Derivatives Activity The Zcash rally is supported heavily by derivatives investors, adding to the volatility. Among the key drivers was the listing of ZEC/USDC perpetual contracts with 5x leverage on decentralized exchange Hyperliquid, which fueled a huge surge in volume in ZEC futures. Long positions are prevalent in futures markets, and the rally is characterized by buyers with control of the futures market, according to data from Nansen. Source: Nansen The notional value of outstanding Zcash futures contracts also increased to $237 million, reflecting renewed retail and leveraged institutional buying of the token. As one would expect in such a steep market rally, also in evidence are profit-takers, and Zcash saw positive Spot Netflow for three consecutive days, reflecting rising inflows as speculators take profit. Broader Crypto Market Performance: ZEC Leads the Altcoin Rotation The ZEC effect has spilled over, boosting other privacy coins. Other assets like Railgun (RAIL) have seen gains of over 117%, and even so-called ‘dinosaur coins’ like Dash (DASH) have rallied, as traders revisit them in the context of the growing privacy narrative. Source: CoinMarketCap.com The fact that privacy tokens are showing multi-day strength means this is not just a one-day pump but a structural shift: the flows of capital are following stories—AI, meme, infrastructure, and now privacy—as new institutional capital continues to flood into altcoin diversification. Zcash Price Prediction FAQ Why did Zcash jump 35% in 24 hours? Zcash price skyrocketed due to a perfect storm of all of the following conditions: new institutional investor access via the Grayscale ZEC Trust, celebrity endorsements (Naval Ravikant), solid revived demand for privacy coins amid global surveillance concerns, and a technical break which triggered a strong derivative short squeeze. What is the Zcash Price Projection in the long term? Will ZEC reach $1000? Reaching $1000 is very speculative but a figure occasionally cited by optimistic analysts like Helius Labs CEO Mert Mumtaz, who anticipates reaching $1,000 in asset price. Based on current technical analysis, ZEC finds nearest resistance of $274–$303, with ultimate medium-term resistance at the $374 level. Reaching $1000 would require sustained institutional flows, the success of halving in 2025, and full market adoption of the privacy narrative. Is Zcash a good buy today? Zcash investment will be based on individual risk appetite as volatility is extremely high. Current technical analysis suggests that ZEC is extremely overbought (RSI of 91), which means there is a very high chance of a short-term pullback. The currency, however, has just registered a big structural breakout. Long-term players will hold on for a retracement to the upper support levels, i.e., $200 or $177, in the hope of buying at lower prices. The positive long-term outlook is driven by its unique value proposition of privacy and rising institutional exposure.

CME Group, the world’s leading derivatives marketplace, has announced that its metals complex reached a record daily volume of 2,148,990 contracts on October 9, 2025 — a 24% increase over the previous high of 1,728,362 contracts set in April 2024. The surge was led by robust demand for gold and silver futures, signaling a sharp rise in hedging and speculative activity as investors respond to heightened geopolitical and macroeconomic volatility. “As geopolitical and macroeconomic shifts drive uncertainty, clients from around the world are turning to our metals futures and options in record numbers,” said Jin Hennig, Managing Director and Global Head of Metals at CME Group. “Clients are using our precious metal products to manage risk and adjust exposure across all contract sizes, including a record for our newly launched 1-Ounce Gold futures which is designed to increase access for retail participants.” The record underscores the increasing role of CME Group’s metals contracts as a global barometer for inflation expectations, monetary policy, and investor sentiment. The trading surge also highlights the diversification of market participants, with both institutional and retail traders contributing to the heightened activity across contract sizes and maturities. Takeaway CME Group’s 2.1 million-contract milestone marks a historic day for metals trading, underscoring growing investor reliance on gold and silver futures for risk management and diversification. Gold And Silver Lead Record-Breaking Session October 9 delivered a series of single-day records across CME Group’s metals suite. Metals futures alone accounted for 1,877,878 contracts, reflecting strong participation from global funds, dealers, and commercial users. Notably, Micro Gold and Micro Silver futures both reached all-time highs, indicating heightened participation from smaller and retail-focused investors who are increasingly engaging with CME’s micro contract offerings. Among the standout performers: Micro Gold futures: 741,822 contracts traded, an all-time high. Micro Silver futures: 132,584 contracts traded, with open interest climbing to 18,276 contracts. 1-Ounce Gold futures: 77,946 contracts traded, a record for the product introduced to broaden retail access. Gold Weekly options: 70,496 contracts traded, with open interest hitting 100,650 contracts. The data underscores both the breadth and depth of activity across CME Group’s metals products, which provide exposure to underlying precious metals in varying contract sizes. The performance of the newly launched 1-Ounce Gold futures also reflects a growing demand for smaller, more accessible contract formats that appeal to retail traders and smaller institutions. Takeaway Micro and retail-focused metal products are fueling CME Group’s record-breaking volumes, signaling broader participation in precious metals markets. Market Context: Volatility Drives Demand For Safe-Haven Assets The new record comes as investors worldwide navigate a complex macroeconomic environment characterized by volatile interest rates, persistent inflation pressures, and geopolitical tension. These factors have boosted demand for gold and silver as safe-haven assets and hedging instruments. CME Group’s extensive metals offering enables participants to manage exposure across the entire risk spectrum — from short-term volatility to long-term portfolio diversification. Analysts note that as uncertainty persists in global markets, liquidity and risk management tools such as CME’s gold and silver futures are likely to play an even greater role in portfolio strategies. The exchange’s ability to provide deep, regulated markets with transparent pricing continues to attract institutional flows and sophisticated traders seeking stability amid shifting global dynamics. Beyond short-term trading activity, CME Group’s latest milestone reinforces its position as a cornerstone of precious metals price discovery and risk management. As participation broadens, the exchange’s metals complex is evolving to serve both global institutions and retail investors through product innovation and enhanced accessibility. Takeaway Heightened market volatility is driving unprecedented participation in CME’s metals products as gold and silver reaffirm their roles as core safe-haven assets.  

S&P Global (NYSE: SPGI) and CME Group have announced the completion of the sale of their joint venture, OSTTRA, to KKR, a global investment firm. The transaction values OSTTRA at a total enterprise value of $3.1 billion, with proceeds to be divided evenly between S&P Global and CME Group pursuant to their 50/50 ownership structure. Established in 2021, OSTTRA has become a vital part of the global financial infrastructure, providing mission-critical post-trade processing, connectivity, and optimization services across major asset classes including interest rates, foreign exchange (FX), credit, and equities. Its products and services underpin trade lifecycle management for financial institutions worldwide, serving banks, broker-dealers, and asset managers. The sale to KKR marks a significant step in the evolution of OSTTRA’s growth strategy, as the platform transitions from joint ownership by two major market infrastructure firms to independent backing by one of the world’s largest private equity investors. The transaction reflects the strong market appetite for financial data and workflow technology businesses that play a foundational role in global capital markets. Takeaway The $3.1 billion sale of OSTTRA to KKR underscores the rising value of post-trade infrastructure and workflow technology in the global financial ecosystem. OSTTRA: Powering Global Post-Trade Connectivity OSTTRA was founded as a joint venture between S&P Global and CME Group following the merger of MarkitSERV, Traiana, TriOptima, and Reset — four legacy businesses that collectively shaped the post-trade ecosystem. The company provides end-to-end post-trade solutions encompassing trade processing, lifecycle management, and risk optimization across derivatives and cash markets. Its infrastructure enables counterparties to streamline clearing, confirmation, reconciliation, and collateral workflows in highly regulated environments. By offering centralized post-trade tools, OSTTRA enhances efficiency, transparency, and interoperability for the world’s largest financial institutions. Under KKR’s ownership, OSTTRA is expected to leverage new investment and operational independence to scale its technology and global reach. The acquisition aligns with KKR’s broader strategy to expand its exposure to financial infrastructure and data-driven services — sectors that are increasingly critical in a digitized, compliance-focused trading landscape. Takeaway OSTTRA’s transition to KKR ownership positions it for continued innovation and global expansion in post-trade processing and financial connectivity. Strategic And Advisory Teams Behind The Transaction The divestiture was facilitated by leading global financial and legal advisors. Barclays and Davis Polk acted as financial and legal advisors, respectively, to S&P Global, while Citi and Skadden served as financial and legal advisors to CME Group. These advisory teams helped structure a transaction that ensures continuity for OSTTRA’s clients and employees, while maximizing value for shareholders. Both CME Group and S&P Global reaffirmed their commitment to focusing on their core competencies — trading, market data, analytics, and risk management — while maintaining collaborative relationships with key industry partners like OSTTRA. The companies are expected to continue working closely with OSTTRA under its new ownership as part of the broader financial infrastructure ecosystem. The closing of the sale caps a multi-year journey that began with OSTTRA’s creation following S&P Global’s merger with IHS Markit. The new phase under KKR reflects a strategic realignment as financial market participants adapt to the growing importance of automation, standardization, and capital efficiency in post-trade processes. Takeaway The OSTTRA sale represents a strategic realignment for CME Group and S&P Global while giving KKR a foothold in the critical post-trade services sector.