Crypto World
How the GTA 6 Leaker Profited $350,000 From CyberLeek
The anonymous leaker behind CyberLeek has reportedly pocketed roughly $350,000, according to on-chain analyst Conor Grogan. The funds allegedly came entirely from liquidity fees rather than direct sales.
The withdrawal coincided with a sharp price decline for the CYBERLEEK meme coin.
The Mastermind Strategy Behind CyberLeek
Grogan stated on September 1 that the person behind CyberLeek withdrew the funds through various OTC providers, a route that converts digital assets into conventional money without requiring large open-market token sales.
That structure differs meaningfully from a typical launch-and-dump scheme. Rather than offloading large CYBERLEEK holdings directly, the wallet tied to the project reportedly profited by collecting fees whenever other traders transacted in its liquidity pool.
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This mechanism depends entirely on sustained trading activity. The viral GTA VI leaks appeared to provide exactly that fuel, drawing in buyers and speculators with each new clip, even as rising volume exposed participants to greater volatility and potential losses.
CyberLeek Launch Timeline
Blockchain researchers traced the CYBERLEEK token’s launch to August 15. The Solana-based asset accompanied each new leak as part of a broader campaign, though the identity behind the controlling wallets remains publicly unconfirmed.
Rockstar Games acknowledged the leaks on August 26, calling the situation heartbreaking, but did not publicly name CyberLeek or draw a definitive conclusion about the leaks’ origin. The studio has since filed federal subpoenas targeting Microsoft and Discord to further the case.
As of the latest reading, CYBERLEEK traded near $0.002959, down 25.6% over 24 hours, according to CoinGecko data, with a market cap of $2.17 million and 24-hour trading volume of $2.69 million.
The token’s price has swung sharply in a single day, ranging from $0.0024 to $0.0041. It now trades roughly 91% below its all-time high, reached on August 23.
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The post How the GTA 6 Leaker Profited $350,000 From CyberLeek appeared first on BeInCrypto.
Of course, it’s hard to know even how much the deal will save to Medicaid programs, he says. That’s because the terms of the deals are not publicly available, and neither are the prices Medicaid pays.
One research letter in JAMA from July estimated that the most-favored-nation policies from 17 pharmaceutical companies that had already been agreed to would lead to $8.6 billion in savings a year for Medicaid programs.
But those savings are likely only for the short term, says one of that study’s authors, Dr. Thomas Hwang, an assistant professor at Brigham and Women’s Hospital. “Long-term savings are likely illusory,” he says. That’s because evidence suggests that after most-favored-nation deals, companies often raise prices in other countries so that the prices that the U.S. compares its prices to will be higher.
Already, the U.K. has agreed to cover drugs at higher prices than it did previously, says Dr. Suhas Gondi, an instructor at Harvard Medical School. He predicts that pharmaceutical companies will try to game the agreement by deciding not to launch new drugs in some countries so they won’t have to compare prices to that country.
Wall Street’s biggest desks turned defensive as September opened. CNBC’s Investment Committee did the opposite. None of its four members plans to sell.
The split comes as stocks enter the month after 27 record closes this year. September is also the weakest month on the calendar.
Why Wall Street Is Buying Protection
Scott Rubner runs equity and equity derivatives strategy at Citadel Securities and came from Goldman Sachs. His August 31 note made three points.
- Earnings are done.
Companies authorized more than $1.1 trillion in buybacks through August. Those buyers go quiet from September 12.
- Retail steps back too.
Rubner’s data shows September has the year’s weakest dip buying. Purchases on down days run near half the normal pace.
- Hedges are cheap.
The VIX closed August at 14.4, its second lowest finish since December 2025.
“Use strength to reduce some exposure and add inexpensive protection into this event window,” he noted.
Others followed, with JPMorgan’s trading desk moving to neutral. Wells Fargo turned cautious on fears that AI spending has peaked.
Both were far more bullish weeks ago, when JPMorgan raised S&P forecasts as hedging demand dried up.
Why the Committee Is Not Selling
- Joe Terranova, Virtus Investment Partners
Momentum fell double digits this quarter while quality rose 1.5%. The market has somewhere to land, he says, so he will not turn bearish yet.
- Stephanie Link, Hightower
She is not trying to time the month. Any dip becomes a chance to add to positions she has been building. Value has beaten growth by 14% this year.
- Jason Snipe, Odyssey Capital Advisors
He calls himself a long-term investor, not a tactical trader. A soft patch is where he adds exposure.
- Josh Brown, Ritholtz Wealth Management
Momentum peaked on June 22 and has fallen 13.7% since. That rotation already happened, he argues. Trading the calendar only creates taxable gains.
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However, the record is milder than the reputation, because since 1950, September has cost the S&P 500 just 0.6% on average. The month still finished higher 34 times out of 75.
The economy is also holding up. Job openings stayed at 7.3 million in July, the Labor Department reported Tuesday.
Bitcoin (BTC) faces the same test. BTC traded near $77,130 on Tuesday, down over 2% over the last 24 hours. Both markets carry a weak September seasonality record.
The desks are paying for insurance. The committee is waiting for the sale.
The post 4 Investment Committee Members on the September Setup: Why None Are Selling appeared first on BeInCrypto.
The US Securities and Exchange Commission (SEC) proposed new transfer agent rules on Tuesday. A blockchain could become the official record of who owns a share.
The same day, the Commodity Futures Trading Commission (CFTC) settled with a swaps trader. He had erased messages regulators ordered him to keep. Both actions turn on what counts as an official record.
Stock Records On-Chain Depend on One Obscure Firm
Transfer agents sit behind every public company share. They keep the master securityholder file, which is the issuer’s legal list of who owns what; they also route dividends and process transfers.
Washington has not rewritten those rules since the early 1980s, but Tuesday’s package amends existing rules and forms, rescinds one rule, and adds several new ones. Commissioner Hester Peirce said on X (twitter) that the proposal took more than a decade.
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Chairman Paul Atkins tied the update to technology the industry already uses.
“This proposal would streamline and modernize the Commission’s rules to reflect transfer agents’ current processes and operations, including the use of electronic communications and blockchain technology in connection with securities offerings and the transfer of shares,” read an excerpt in the announcement, citing Atkins.
That line decides whether a token is a share or a wrapper around one. A transfer only carries legal weight when the chain feeds the official file. Meanwhile the tokenization ownership gap has widened while the rules stood still.
Securitize, Computershare, and Equiniti have already moved for the work, BeInCrypto’s transfer agent guide explains. Registrars would also disclose which securities they tokenize and which networks host them.
A $90,000 Penalty for Messages That Vanished
Elsewhere, the CFTC closed the opposite kind of case. A federal court in Manhattan entered a consent order against John Patrick Gorman III. He is a US dollar swaps trader and a managing director at a global investment bank.
Enforcement staff told Gorman in March 2019 to preserve documents. He deleted WhatsApp threads and one text message instead.
Two months on, he wrote to the agency claiming he had destroyed nothing. He repeated that account under testimony in November 2019.
“Attempts to impede or obstruct the Commission’s investigations go to the very heart of the division’s ability to detect wrongdoing and enforce the law,” the CFTC said in its release, citing David Miller, the agency’s enforcement director.
The order fines Gorman $90,000 and permanently bars him from repeating the conduct. Regulators still rely on what a trader chooses to keep, which is the weakness a shared ledger removes.
The post Wall Street Stock Records Could Move On-Chain. One Trader Punished for Deleting His appeared first on BeInCrypto.
Crypto World
SEC proposes transfer agent rule, sets event to figure out round-the-clock U.S. trading
The U.S. Securities and Exchange Commission issued an agenda for its 24-trading roundtable and proposed a new transfer-agent rule with blockchain implications.
U.S. officials have previously objected to Russia attending G20 meetings
In the past, U.S. officials have strongly opposed Russia’s participation in G20 meetings.
Asked in March 2022, whether Russia should be removed from the G20, Biden answered: “On the latter point, my answer is yes. That depends on the G20.” If members could not agree to remove Russia, Biden said Ukraine should be invited to attend and observe G20 meetings.
During a finance meeting with global senior finance officials in April 2022 in Washington for the International Monetary Fund-World Bank Spring meetings, former U.S. Treasury Secretary Janet Yellen and officials representing Britain, Canada, and the European Central Bank walked out when Siluanov began addressing the gathering virtually.
“My decision to work with others to leave when the Russian Finance Minister began to speak was intended to make clear Russia’s behavior so violates, is so offensive to international norms, we’re not willing to allow Russia to participate or to listen to what the Russians have to say,” said Yellen during a subsequent press conference.
At three in the morning, an AI system can evaluate a trade flow, verify a contract and trigger a cross-border payout in seconds. The payment may still sit in a correspondent bank queue for days. Corporate software now operates at machine speed, while the financial infrastructure beneath it still keeps banking hours.
That timing gap is the structural challenge. The financial architecture underneath these autonomous workflows has failed to experience a corresponding modernization.
Sophisticated, automated software layers now sit on top of traditional banking rails that remain bound by manual processes, legacy clearing schedules, regional banking hours and standard multi-day settlement timelines. This systemic divergence creates an immediate operational mismatch.
An enterprise cannot maximize continuous, automated commerce when its settlement infrastructure relies on decades-old technology designs.
Deconstructing the Multi-Intermediary Chain in Global Commerce
To understand why traditional clearing mechanisms introduce severe latency, it is necessary to examine the specific structural plumbing of international trade finance. Legacy institutional settlement networks do not transfer value natively; instead, they pass transactional instructions across sequential databases.
When a global payment moves across traditional banking channels, the underlying instruction must migrate through a fragmented array of payment gateways, domestic clearing houses, central banking networks, and multiple intermediary correspondent institutions.
Each individual leg of this journey introduces an additional layer of ledger reconciliation, manual compliance verification, localized operational hours, and distinct fee structures.
For instance, an international payment initiated late on a Friday afternoon from a financial hub in Singapore may not achieve final settlement at its destination bank in São Paulo until the following Wednesday.
The software system determines the optimal allocation of capital and fires the transaction instruction in milliseconds, yet the financial infrastructure requires five business days to clear the funds.
This prolonged processing latency introduces counterparty risk and ties up critical corporate liquidity. For international trading firms, working capital remains locked in transit and unavailable for deployment.
The resulting operational friction forces human intervention back into workflows designed for automation, creating a structural drag on global capital velocity.
Designing the Integrated Operational Architecture
Solving this infrastructure deficit requires moving away from fragmented vendor arrangements. When institutions attempt to stitch together separate partners for execution, asset storage, and fiat connectivity, they merely replicate the inefficiency of the legacy banking system.
Software agents requiring instant settlement cannot be delayed by internal transfers between an isolated over-the-counter desk, a third-party custodian, and an external payment gateway. True efficiency demands one platform where money moves.
SCRYPT follows this integrated model, combining execution, segregated custody and multi-currency settlement on one platform. Keeping the transaction lifecycle in one place reduces internal hand-offs and can limit reconciliation delays and vendor counterparty exposure.
Recent findings from the Bank for International Settlements highlight that stablecoins do not operate as uniform instruments across networks. The same stablecoin issued on two blockchains exists on separate ledgers; bridging capital between them introduces costs, settlement delays and operational exposure.
When trading, custody and payment rails span providers and chains, reconciliation failures and counterparty exposure compound. Overcoming this fragmentation requires an integrated framework capable of handling cross-chain settlement as one connected system.
The Technical Bottleneck: Protocol Performance vs. Settlement Plumbing
As institutional developers seek to resolve this settlement bottleneck, the nature of digital asset networks is undergoing a fundamental shift. With the deployment of high-performance blockchain protocols capable of processing massive transaction volumes, technical transaction throughput is no longer the primary constraint for institutional adoption. The core operational bottleneck has migrated entirely from protocol engineering down to the underlying custody and settlement plumbing.
True institutional integration relies on agnostic infrastructure. This requires the implementation of management platforms that allow corporate treasuries to clear and settle value across stablecoin rails seamlessly, without requiring institutions to alter their day-to-day corporate financial workflows or interface directly with the complex technical elements of public ledgers.
The enterprise at the end of the chain should experience settlement that completes in real time, without changing how it already works.
Structural Exhaustion and Emerging Market Infrastructure
This operational reality is already dictating corporate behavior within emerging markets, where the adoption narrative has completely moved past speculative retail trading. In economic regions characterized by persistent foreign exchange shortages, systemic currency devaluation, and fragmented local banking systems, enterprise treasury teams are turning to digital settlement rails out of absolute necessity.
In liquidity corridors across Sub-Saharan Africa and Latin America, businesses encounter friction when accessing international clearing currencies through correspondent banks. Local currency conversion adds costs, delays supplier payments and exposes companies to volatility during multi-day clearing cycles. Some enterprises are using reserve-backed stablecoins to execute faster cross-border settlements.
This paradigm shift represents a clear structural exhaustion with legacy infrastructure that fails to satisfy modern commercial requirements. Emerging market businesses use real-time T+0 settlement to rotate working capital efficiently, manage foreign exchange risk, and protect tight operating margins. In these environments, stablecoins are no longer viewed as alternative financial assets; they are functioning as essential infrastructure for daily commercial survival.
SCRYPT applies this model through multi-currency settlement infrastructure that connects local market exposure with reserve-backed stablecoins and major fiat currencies. For businesses in volatile economies, such platforms can support real-time pricing and faster international B2B payments while reducing reliance on correspondent banking.
Jurisdiction as Architecture
The expansion of digital settlement infrastructure has created another operational challenge: navigating a fragmented regulatory landscape. With major economies enforcing distinct frameworks, compliance has become an exercise in structural architecture.
A stablecoin authorised under one jurisdiction’s regime may require separate authorisation under another’s before it can be used the same way. Cross-border tax reporting initiatives such as the European Union’s DAC8 framework and the OECD’s Crypto-Asset Reporting Framework (CARF) are also turning compliance into an infrastructure problem. Audit controls, automatic reporting and verification mechanisms must sit within the settlement plumbing. Jurisdictional choices lock in banking relationships, asset segregation standards and supervisory obligations that are costly to alter later.
This environment puts a premium on jurisdictions with mature, substantive financial oversight and long experience of supervising digital assets. Switzerland is one of them. Its principles-based approach accommodates new transactional structures while holding institutional-grade compliance standards, which is part of why it has become a base for firms building settlement infrastructure.
Because a principles-based model focuses on substantive risk management, it travels well. Infrastructure anchored to a FINMA portfolio manager licence alongside VQF supervisory membership can work with counterparties across regions, provided each market’s framework is addressed separately. That is deliberate, institutional-grade architecture.
Building for the Permanent Design Constraints of Global Commerce
The friction between regional regulatory frameworks and fragmented legacy clearing chains is a permanent condition of the global economy. Institutions and enterprises must treat it as a design constraint and build their infrastructure accordingly.
The broader market trajectory reinforces this structural migration. Stablecoins have evolved from niche digital assets into an increasingly important layer of global financial infrastructure, with growing adoption across enterprise treasury, cross-border payments, and institutional settlement. This trajectory indicates that the migration of enterprise treasury operations onto digital asset rails represents a lasting shift in global finance rather than a temporary market cycle.
To scale securely within this framework, global institutions must replace vendor fragmentation with an integrated platform design. Utilizing multiple disparate counterparties for trading, custody, and stablecoin execution introduces unacceptable operational risk and reconciliation overhead. Enterprises require a single point of access, where trading, custody and settlement sit on one platform rather than across three vendors reconciled after the fact.
Execution quality determines whether institutional digital asset infrastructure can support global enterprise operations. Anchoring a technology stack within Switzerland’s regulatory environment enables providers like SCRYPT to combine deep liquidity, segregated multi-party computation (MPC) custody and instant automated clearing. This lets enterprises deploy capital without carrying the operational burden of fragmented infrastructure.
Software automation can complete financial and operational analysis at machine speed. The infrastructure used to settle those outcomes must align with that velocity. Automated commercial networks already operate around the clock. Institutional capital must follow. The standard is one platform, where money moves.
The post This Stablecoin Shift is Reshaping Global Cross-Border Payments appeared first on BeInCrypto.
Chainlink has made six official U.S. economic data feeds covering GDP, inflation, and private domestic demand available across 10 public blockchain networks.
Summary
- Six feeds cover the level and annualized change of three U.S. economic indicators.
- 10 networks initially support the data, including Ethereum, Base, Arbitrum, and Avalanche.
- Monthly and quarterly updates follow the Bureau of Economic Analysis publication schedule.
- Onchain applications can use the figures in markets, financial products, and risk systems.
Chainlink said the U.S. Department of Commerce is using its oracle infrastructure to distribute macroeconomic statistics produced by the Bureau of Economic Analysis, giving blockchain applications access to government figures without requiring developers to enter each release manually.
The program covers real gross domestic product, the Personal Consumption Expenditures Price Index, and Real Final Sales to Private Domestic Purchasers. Each indicator is available through two feeds: one reports the current level, while the other shows its quarter-over-quarter change at an annualized rate.
Data is initially available on Ethereum, Arbitrum, Avalanche, Base, Botanix, Linea, Mantle, Optimism, Sonic, and ZKsync. Chainlink said support for other networks can be added in response to user demand.
Although Chainlink drew fresh attention to the arrangement in a recent X post, the feeds were first announced in August 2025. The Commerce Department worked with both Chainlink and Pyth Network at the time, using the two oracle providers to place selected BEA data on public blockchains.
Chainlink feeds deliver six US economic measures
Real GDP measures the value of goods and services produced in the United States after adjusting for inflation. The level feed reports the figure in billions of chained 2017 dollars, while the second feed records the quarter-over-quarter percentage change at a seasonally adjusted annual rate.
The PCE Price Index tracks changes in the prices U.S. consumers pay for goods and services. The Federal Reserve uses PCE data as its preferred inflation measure when assessing progress toward its 2% target, making the releases closely watched by investors across stocks, bonds, currencies and digital assets.
Chainlink’s PCE feeds provide both the headline index level, with 2017 set as the base year, and the quarter-over-quarter annualized change. The BEA publishes monthly PCE estimates as part of its Personal Income and Outlays report, while quarterly readings also appear in the national economic accounts.
Real Final Sales to Private Domestic Purchasers, the third indicator, measures inflation-adjusted spending by consumers and private businesses. By excluding government spending, exports, and inventory changes, the figure provides a focused measure of private domestic demand, according to the BEA.
Its two feeds follow the same structure used for GDP: one reports the level in chained 2017 dollars, and the other gives the annualized quarterly rate of change. Chainlink updates the six feeds monthly or quarterly, depending on when the BEA releases the underlying figures.
Government data can support automated onchain products
Oracle networks connect blockchains with information created outside their systems. Smart contracts cannot retrieve government statistics on their own, so an oracle provides the data in a format that blockchain applications can read and use.
According to Chainlink, direct access to BEA figures could support inflation-linked digital assets, prediction markets, perpetual futures, and automated trading products. Developers may also use the feeds to build dashboards or adjust risk settings in decentralized finance protocols after a new economic report is published.
A prediction market, for example, could use an official feed to settle a contract tied to quarterly GDP growth. An inflation-linked product could reference the PCE Price Index, while a lending protocol could incorporate changes in private demand into a predefined risk model. Chainlink identified each of those areas as a possible use rather than a product already launched through the Commerce Department arrangement.
The data feeds do not release economic statistics earlier than the government’s usual publication channels. Updates follow the BEA schedule, meaning onchain users receive the same underlying figures released to the public through official reports.
Chainlink said its feed infrastructure has received ISO 27001 certification and a SOC 2 Type 1 attestation. Such credentials concern the controls and information-security processes supporting the service; they do not remove the need for individual applications to manage smart-contract, market, and data-integration risks.
Commerce Department previously placed GDP on nine networks
The Chainlink feeds form one part of the Commerce Department’s blockchain data program. In August 2025, the department separately published second-quarter U.S. GDP information across nine networks, including Bitcoin, Ethereum and Solana.
As previously covered on crypto.news, the agency published a cryptographic hash of its full report and the reported 3.3% annualized GDP growth rate. Coinbase, Gemini, and Kraken helped distribute the information, while Chainlink and Pyth supported other parts of the program.
Commerce Secretary Howard Lutnick described the initiative as a way to make U.S. economic information globally accessible and resistant to alteration.
“We are making America’s economic truth immutable and globally accessible like never before, cementing our role as the blockchain capital of the world.”
Publishing a hash on a blockchain differs from maintaining an oracle feed. A hash can help users confirm that a document has not changed, while a data feed places a specific value in a format that smart contracts can reference during automated transactions.
Chainlink expands feeds for tokenized financial assets
Chainlink has also extended its data infrastructure to tokenized stocks and other real-world assets. On Aug. 26, the company introduced price feeds for Coinbase-issued versions of Nvidia, Apple, Meta, and Alphabet shares on Base.
The NVDAc, AAPLc, METAc, and GOOGLc feeds allow lending applications to calculate collateral values, borrowing limits, loan health, and liquidation thresholds. Coinbase currently limits the underlying tokenized stock products to eligible non-U.S. investors, meaning the Chainlink integration does not make the assets available to U.S. users.
In an Aug. 10 research note, Standard Chartered set a $200 target for LINK by the end of 2030. Analyst Geoff Kendrick based the forecast partly on expected growth in tokenized assets and decentralized finance, projecting that assets held on blockchains could reach $4 trillion by the end of 2028. The estimate represents the bank’s forecast and is not guaranteed.
Coinbase’s initial Chainlink-supported stock feeds use total-return values that combine the underlying share price with information from the exchange’s onchain oracle registry. Supported assets are issued under Coinbase’s B20 token standard, with each token representing an interest in a U.S.-listed share held through the product’s custody structure.
Crypto World
Alkemya Metacore Secures $50M via Tokenised Equity to Scale Nickel Energy and Security Tech
[PRESS RELEASE – London, London, September 1st, 2026]
ALKEMYA METACORE SCSp SECURES INITIAL USD 50 MILLION INVESTMENT AHEAD OF LISTING OF TOKENISED EQUITY NICKEL OFFERING
Alkemya Luxembourg S.à.r.l. (“Alkemya”), the sponsor, is pleased to announce that Alkemya Metacore SCSp has secured USD 50 million in a pre-launch capital raise for its precision industrial nickel wire business backed by Class 1 nickel wire. It is announcing the sale of additional ALKN tokens in a new tranche (the “Token”) at USD 1.0 per Token.
The offer, which is being arranged by Hanover Square Capital (UK) Ltd, will take place on Bitfinex Securities. The offer is available to institutional and professional investors and will close on 15 October 2026.
The Tokens are issued by Alkemya Metacore SCSp (“Alkemya Metacore”), a special limited partnership based in Luxembourg, which is registered as an Issuer with CNAD (National Commission of Digital Assets) in El Salvador.
Alkemya Metacore is a Luxembourg-based investment and operating platform focused on the industrial development, commercialisation, and financial structuring of high-technology metals. It owns approximately 7 million metres of 99.99% ultra-pure nickel wire with 0.025 mm diameter, which has been independently verified and valued at approximately USD 1.64 billion. The asset is held in institutional custody in Lugano, Switzerland.
Alkemya will use part of the initial capital raise and further funds raised in additional tranches to invest working capital in Alkemya Metacore to finance its commercialisation strategy of transforming its ultra-pure wire into engineered mesh products tailored to high-growth applications across seven sectors: EMI shielding, aerospace and defence, marine and desalination, power and industrials, semiconductors, green hydrogen and rare/precious metals recovery.
The successful capital raise, before secondary market listing, represents a major milestone for the offering and demonstrates confidence in the underlying exposure to high-purity nickel and the structure of the issue. The Token affords investors a combination of an asset-backed investment and a thematic play on energy transition and electronic security technologies.
The listing on Bitfinex Securities of the Token will enable Alkemya to leverage tokenisation to access a wider pool of global investors and be part of a regulated, 24/7 trading venue.
The Tokens aim to provide long-term investment value linked to real-world applications and technology.
Cash distributions will be governed by a strict waterfall that first returns investor capital in full, cumulative distributions equal to a 6% per annum compound interest calculated annually (i.e., the preferred return) on the investor capital at any time outstanding, from the date of payment of the same up to the date of final repayment of the invested capital and an additional 80/20 profit split with a carry partner in favour of Token holders from the commercial business.
Carlo Guido Della Peruta, Manager of the General Partner of Alkemya Metacore, commented: “Securing this initial investment is a significant milestone for Alkemya and validates both the quality of our asset and the strength of our commercialisation strategy. We chose to list on Bitfinex Securities because tokenisation offers us access to a genuinely global investor base within a regulated framework, and because it reflects the innovative approach we are taking across all aspects of our business. This raise will allow us to begin transforming our nickel wire asset into high-value engineered products serving some of the fastest-growing sectors in the global economy, and we look forward to welcoming further investors as the listing progresses.”
Jesse Knutson, Head of Operations at Bitfinex Securities, commented: “Bitfinex Securities exists to connect exciting investment opportunities with a broader and deeper investor base, giving more people access to investments that were previously out of reach and giving businesses access to a wider pool of capital. Alkemya Metacore will represent yet another example of how we’re using blockchain technology to bring previously inaccessible asset classes to market within stringent regulatory guardrails, and Alkemya’s initial $50 million capital raise is a sign of appetite for this exciting opportunity.”
Arvinder Sood, CEO and Director at Hanover Square Capital (UK) Ltd, said: “Hanover Square Capital is delighted to announce this transaction in collaboration with Bitfinex Securities and its successful pre-launch close of USD 50 million investment, which not only underscores the evolving direction of global capital markets but also establishes a compelling foundation for a groundbreaking transaction with the launch of ALKN tokens. This milestone reflects a broader structural shift in how financial assets are created, accessed, and exchanged, as traditional frameworks increasingly converge with digital innovation. By embracing tokenised equity, the transaction highlights a more efficient, transparent, and accessible model for capital formation, one that is better aligned with the demands of modern investors and issuers alike, with the capacity to trade on a peer-to-peer basis.
Hanover Square Capital believes that this transaction not only validates that trajectory but also signals the growing importance of blockchain-enabled solutions in redefining how assets are issued, managed, and traded on a global scale.”
Bitfinex Securities provides a regulated venue for the issuance and trading of tokenised securities, combining blockchain technology with regulated market access for issuers and eligible investors.
The offering was advised by the following law firms: CMS DeBacker in Luxembourg (as regards Luxembourg law aspects), Dentons El Salvador (as regards El Salvador law aspects), Foley and Lardner in the US (as regards US law aspects), and CNPLaw LLP in Singapore (as regards Singapore law aspects). Winston Taylor acted for Bitfinex Securities. The Edison Group advised on investor relations and issued a pre-IPO research note. The ALKN tokens will be available for trading across three regulated exchanges: Bitfinex Securities, AGX (operated by LabyrinthX Technologies Pte Ltd, a company in the Hydra X group) and Archax Ltd. HydraX Digital Assets Pte. Ltd. is the custodian and distribution partner in Asia, with Archax playing a similar role in the UK. Scytale, the technology firm, is providing onboarding technology services for compliance to Alkemya Metacore under Luxembourg and EU law.
About Hanover
Hanover Square Capital (UK) Ltd (“HSC”) is an independent, regulated advisory firm headquartered in London, comprising a small team of highly experienced finance professionals. The firm provides strategic advice across a broad range of areas, including energy transition and climate-related solutions, public and private debt and equity placements, bank financing, and both project and commodity finance, alongside advisory services on financial investments. HSC brings deep sector expertise spanning environment-related projects, infrastructure development, next-generation technologies with applications to electromagnetic shielding and efficient green energy production, with a particular emphasis on sustainability and the global energy transition.
As a member of the UK Sustainable Investment and Finance Association (UKSIF), the firm is closely aligned with leading sustainability practices. Its client base is global, encompassing large and mid-cap corporations, government and state agencies, selected institutional investors, and professional investors. HSC is further supported by its connected company, Hanover Square Investments Pte. Ltd, based in Singapore.
About Bitfinex Securities
Bitfinex Securities provides a regulated platform for the issuance, listing and trading of tokenised securities. Licensed in El Salvador and Kazakhstan, Bitfinex Securities gives issuers and eligible investors access to digital securities markets within established regulatory frameworks.
The platform supports capital raising and secondary market trading for tokenised securities, including real-world asset-linked opportunities. By combining market infrastructure, technology and regulatory oversight, Bitfinex Securities aims to make capital formation more efficient, transparent and accessible for issuers and investors.
Media Contact:
Richard Morgan Evans
rmorganevans@sapiencecomms.co.uk
Jonathan Batchelor
jbatchelor@sapiencecomms.co.uk
Sapience Communications
+44 (0) 203 841 7610
Disclaimer:
No offering is being made in the European Union or the European Economic Area, and no retail investors within the meaning of Directive 2014/65/EU (as amended, “MiFID II”) will be admitted as purchasers of the ALKN Tokens. The ALKN Tokens are also exempt from the obligation to publish a prospectus for offers to the public under Regulation (EU) 2017/1129, as amended (the “Prospectus Regulation”), as the offering will only be addressed to qualified investors in the EEA/EU. The offering is limited to institutional investors in Singapore. This news release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of any of the ALKN Tokens in any jurisdiction in which such offer, solicitation or sale would be unlawful. These securities have not been and will not be registered under the US Securities Act of 1933, as amended (the “Securities Act”), the securities laws of any U.S. state or the securities laws of any other jurisdiction outside El Salvador, nor is such registration contemplated. The ALKN Tokens will only be offered and sold outside the United States (as defined in Regulation S under the Securities Act (“Regulation S”)) in offshore transactions pursuant to Rule 903 or Rule 904 of Regulation S and in accordance with any other applicable securities laws where such offers and sales are made. The ALKN Tokens have not been and will not be offered or sold within the United States.
Forward-Looking Statements: Information outlined in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document, and Alkemya Metacore and Alkemya disclaim any intention or obligation to update or revise any forward-looking statements, whether because of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct.
Notice: None of Bitfinex Securities, Archax Ltd or the Hydra X group accepts responsibility for the adequacy or accuracy of this news release.
Since this offering is not targeting US investors as it is made under Regulation S and similarly it is not targeting EU retail investors under the EU Directive 2014/65/EU (as amended, “MiFID II”) or non-institutional investors in Singapore, this announcement is not intended for US investors, retail investors in the EU or non-institutional investors in Singapore. US investors, EU retail investors and non-institutional investors in Singapore are considered prohibited investors under the ALKN Token offering.
The post Alkemya Metacore Secures $50M via Tokenised Equity to Scale Nickel Energy and Security Tech appeared first on CryptoPotato.
X has begun investigating a wave of unsolicited password-reset emails and confirmation codes, although its initial review has found no evidence that the platform’s systems were breached.
Summary
- X users reported receiving password-reset messages they had not requested.
- The company has found no evidence of a breach during its initial investigation.
- X advised users to enable two-factor authentication and Password reset protection.
- The email wave coincided with X Money’s expansion to eligible U.S. subscribers.
X finds no breach in initial password-reset review
X Product Engineering team member Mridul Singhai said Tuesday that the company was examining reports from users who received unexpected password-reset emails and codes. According to Singhai, X had not identified a compromise of its internal systems at the time of his statement.
Several account holders said the messages arrived without any attempt on their part to change their login details. Some users also reported receiving several reset requests, raising questions about whether unknown parties were trying to take control of their accounts.
An unsolicited reset message does not by itself show that an account password has been exposed or that someone has gained access. X allows a person to start the recovery process by entering an account username, email address, or phone number, after which the platform sends a confirmation code to the registered contact method.
Even so, users should not share a reset code or approve a password change they did not request. Singhai advised account holders to enable two-factor authentication and avoid opening links sent through unexpected emails.
He also said attackers appeared to believe that increased access to X Money could make control of X accounts more valuable. The company has not disclosed who may be responsible for the requests, how many accounts received them, or whether the activity came from an automated campaign.
X security settings can restrict reset requests
Under X’s published account security guidance, users can turn on Password reset protection from the Security section of their account settings. Once enabled, the feature requires additional identifying information before X sends a password-reset link or confirmation code.
Depending on the information connected to an account, a user may need to provide an email address, phone number, or both. Requiring those details can make it harder for an unknown party to trigger repeated reset requests using only a public username.
Two-factor authentication adds another check during login. X currently supports text messages, authentication applications, and physical security keys, although the available methods can depend on the account type and subscription status.
According to the platform’s password recovery instructions, reset codes sent by email remain valid for 60 minutes. Completing a password reset logs the account out of all active X sessions, while changing a password from an existing session leaves the session used for the change active.
X specifically advises people who repeatedly receive reset emails they did not request to enable both Password reset protection and two-factor authentication. Its security page also tells users to check that a login page uses the x.com domain before entering account credentials.
Rather than following an email link, account holders can open the X application or type the platform’s address directly into a browser to review their settings. X says its legitimate emails come from addresses ending in @x.com or @e.x.com, do not include attachments, and never ask recipients to provide their password by email, direct message, or reply.
Anyone who entered credentials into an unfamiliar website should change the password through X, secure the email address linked to the account, and remove access for unrecognized third-party applications, according to the company’s guidance. A new password should also be different from credentials used on other services.
X Money expands access across the United States
The reset-email reports emerged as X expanded X Money to Premium and Premium+ subscribers with U.S. accounts. The service lets eligible users send money to one another without leaving the social platform and relies on Cross River Bank for its banking infrastructure.
As crypto.news previously reported, the X Money launch includes deposit accounts, instant transfers, and a Visa debit card. The service also offers annual yields of up to 6%, while eligible X Card purchases can earn 3% cash back.
Cross River holds customer deposits and connects X Money to the banking networks used for transfers. Deposits held directly at a Federal Deposit Insurance Corporation member bank can qualify for standard FDIC insurance of up to $250,000, subject to the agency’s rules.
X Money also uses a cash sweep program that places funds across participating insured banks. Eligible customers may receive aggregate pass-through FDIC coverage of up to $10 million, although X Payments is not a bank or an FDIC-insured institution.
The payment service uses passkeys for authentication and gives customers tools to set transaction limits and extra approval requirements. Visa provides security and risk-management measures for purchases made through the X Card.
Initial access had been limited to selected Premium+ users when the payment service began using Cross River’s infrastructure in June. X later added Premium subscribers as it expanded availability across the United States.
Despite Cross River’s past work with Ripple, neither X nor the bank has announced support for XRP or another cryptocurrency within X Money. The current service moves U.S. dollars through conventional banking and card networks.
X has also considered stablecoin creator payments
X’s financial plans extend beyond transfers between users. In August, the company was considering USDC payments and other stablecoins as possible options for creator rewards, according to a person familiar with the discussions.
No token, blockchain network, or launch date had been selected at the time of that report. X also had not disclosed whether creators would receive stablecoins automatically or choose them as an alternative to bank payments.
The discussions came ahead of the platform’s planned replacement of its Revenue Sharing program with Original Content Rewards on Sept. 8. Under X’s announced eligibility rules, creators need at least 500 verified followers and 500,000 Home Timeline impressions from verified users during the previous 90 days.
X has not confirmed that digital assets will be added to X Money. The platform’s payment service currently remains limited to eligible U.S. subscribers, and the company has not provided a timetable for access by free accounts or users outside the country.
Crypto’s mood has been getting dragged lower for months, even as market prices have started to rebound. In August, Bitcoin posted a strong monthly performance—reported as its best August in years—with returns cited at 26%, while Ethereum gained 34%. The renewed attention has also spilled into mainstream political moments, including President Trump’s comments at the White House praising a decentralized offshore perpetual futures venue, as covered by Cointelegraph Markets.
Yet a price uptick doesn’t automatically settle the deeper questions many long-time participants have been asking: whether crypto delivered on its most ambitious promises, and whether today’s “wins” look different from what the industry originally pitched.
Key takeaways
- Bitcoin’s reported best August in years and Ethereum’s jump have lifted attention, but the broader “sovereign money” narrative still clashes with custodial structures like ETFs.
- Perpetual swaps—once a key differentiator—have become standard across compliant exchanges, reducing the advantage held by early derivatives pioneers.
- Several industry leaders argue crypto’s impact is real, but less about replacing legacy finance and more about being absorbed into it through settlement, tokenization, and stablecoins.
- Despite growing legitimacy and wider adoption, users still face friction: too many networks, wallets, exchanges, bridges, and onramps to navigate.
- Self-custody remains a high-risk expectation, and the bear-market pain has been intensified by the difficulty of delivering a “future” that feels safer and easier.
From build-anything optimism to today’s “it’s absorbed” reality
The article’s interviews frame the current moment as a transition: crypto’s technology has spread beyond its original bubble, but the industry’s cultural promise hasn’t matched its commercial outcomes for everyone. Former BitMEX CEO Stephan Lutz argues crypto can’t simply vanish because key mechanisms are already woven into broader financial infrastructure.
Moonshot Capital founder Utkarsh Ahuja echoes that view, pointing to spillover effects including payment rails, settlement, and tokenization. He highlights stablecoins as a potentially durable part of financial payments and notes the expanding idea that “you can literally tokenize anything.” In his view, adoption outside crypto-native circles—across sectors such as energy, healthcare, and AI—is proof the work wasn’t wasted, even if the end result looks less like a separate parallel world.
Subsquid Labs CEO Wanja Oberhof makes a similar infrastructure argument through decentralization: DeFi’s value, he says, is the ability to verify a ledger in real time down to individual transactions, reducing reliance on an operator’s word. He also describes DeFi settlement speed—minutes rather than days—and market availability running 24/7, with lending protocols capable of processing large volumes transparently.
But Oberhof concedes that DeFi did not always land the experience users expected. He argues the sector “over-promised on timelines and under-delivered on user experience,” and suggests the real breakthrough comes only when the technology becomes invisible—embedded in products people use without consciously thinking about blockchains.
Derivatives didn’t fail—differentiation did
One of the clearest “winners and losers” examples comes from crypto derivatives history. BitMEX—described as an early Bitcoin futures exchange that helped popularize perpetual swaps and leveraged trading—has shut down operations in September after 11 years, according to earlier Cointelegraph coverage. Lutz characterizes BitMEX’s end as a case of being copied rather than being obsolete.
In a quote, Lutz says that what once made BitMEX distinctive—perpetual swaps and the associated funding mechanism that aligns longs and shorts—has become standard across “every legitimate crypto exchange.” In other words, the technology’s success removed the very edge the founders built around. As a result, today’s competitive landscape is less about inventing infrastructure and more about execution and aggressive market positioning, which some firms win and others can’t sustain.
This framing matters for investors and builders because it shifts the evaluation criteria. In the early years, differentiation often came from technical novelty. Now, according to Lutz’s argument, differentiation increasingly comes from scale, strategy, and market-share competition—factors that don’t always favor the original innovators.
Legitimacy rose, but convenience and trust lagged
Even while regulations have made crypto more acceptable to traditional institutions, the article suggests that “legitimacy” hasn’t automatically translated into simpler day-to-day use. Regulation has also contributed to a more regulated and, in some ways, more predictable environment—yet that predictability can reduce the borderless promise crypto markets advertised.
The text cites regulatory progress such as the EU’s implementation of Markets in Crypto Assets (MiCA) and the US move toward building a formal framework for crypto. It also references discussion around a potential CLARITY act. The implication is that the direction of travel is clear: rules are tightening, but they’re still not uniform enough to eliminate friction across jurisdictions.
Ahuja’s interview comments point to a mismatch between crypto’s stated goal—seamless value transfer—and the reality of national regulatory regimes shaping how assets can move. The article includes an anecdote from a Dubai-based crypto user who reportedly receives salary into a centralized exchange, loses money converting USDT into local currency, and pays a flat withdrawal fee of 75 AED (roughly $20). They say they wish they could receive a bank transfer instead.
For users, the practical takeaway is straightforward: even as on-chain rails exist, many real-world workflows remain routed through centralized platforms and local constraints. The promised simplification doesn’t fully arrive when compliance, conversion costs, and access rules dominate the experience.
Self-custody remains a paradox—and morale takes a hit
The article also highlights a tension at the heart of crypto’s original pitch: self-custody. While proponents have long argued that holding private keys is the route to real sovereignty, the piece points out that greater Bitcoin value can raise the stakes of holding keys—whether due to physical theft risks or the expanding threat environment, including cold wallet exploitation framed in the article.
It’s this “failure to deliver the future” that, in the article’s telling, has made bear-market shutdowns and closures feel especially harsh. The text notes that layoffs have been widespread throughout the industry and that projects that survived the 2022 bear market have since shut down or been forced to pivot. Some are reportedly reinventing themselves by leaning into AI, a newer trend that has seen adoption crypto can only dream of—at least in the sense of who is capturing attention and resources right now.
Meanwhile, the article argues that Lutz does not interpret BitMEX’s fate as proof the underlying technology failed. Instead, he suggests the derivatives model worked so well that everyone copied it, and the contest moved to a different game: market share and competitive aggressiveness. That distinction can help readers interpret closures without concluding that the core innovations were wrong.
What to watch next as narratives reset with price
With Bitcoin and Ethereum posting strong performance and public figures generating fresh headlines, narratives are likely to tighten around “why this rally will last.” But the article’s central warning is that price momentum doesn’t resolve the long-running issues around custodial versus non-custodial ideals, user friction, and the real-world risks of self-custody. The next signal to watch is whether infrastructure improvements translate into better usability and clearer pathways for everyday users—or whether the industry continues to measure progress primarily through charts.
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