Josef Schachter of the Schachter Energy Report shares his outlook for oil and natural gas, including when he thinks the next buying opportunity will be for stocks.
He also discusses his upcoming Catch the Energy conference.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Polymarket’s decentralized forecasting has caught Wall Street’s eye.
The New York Stock Exchange’s parent, Intercontinental Exchange (NYSE:ICE), made a headline-grabbing US$2 billion investment last week, signaling that decentralized forecasting is stepping onto the global financial stage.
In an X post, Polymarket CEO Shayne Coplan called the partnership “a monumental step forward for DeFi.”
Jeffrey C. Sprecher, chair and CEO of ICE, was similarly positive on the arrangement.
“There are opportunities across markets which ICE together with Polymarket can uniquely serve and we are excited about where this investment can take us,” he said in an October 7 press release.
Under the terms of the deal, ICE will become a global distributor of Polymarket’s event-driven data, providing market sentiment indicators to institutional clients worldwide. ICE and Polymarket also have plans to collaborate on future tokenization initiatives for financial products integrated with prediction market data and DeFi technologies.
Polymarket, along with its largest direct competitor, Kalshi, is a prediction market platform where the outcome of events can be traded. Prediction markets are designed to harness the “wisdom of the crowd” to forecast future events, ranging from political elections and economic indicators to product sales and scientific discoveries.
Prediction market participants buy and sell tokens, or shares, in the outcome of an event, with the price of each share reflecting the perceived probability of that outcome occurring.
Prediction markets trace their roots back to informal betting markets and speculation venues, where collective judgment was harnessed to forecast uncertain outcomes. One of the earliest formalized examples dates to 17th century Dutch tulip bulb futures markets, often cited as proto-prediction markets for economic speculation.
The modern concept gained traction in the late 20th century, with academic research demonstrating the power of markets to aggregate dispersed information. The Iowa Electronic Market, launched in the late 1980s by the University of Iowa, became a pioneering real-money political prediction market, accurately forecasting US presidential elections.
In recent years, technological advances and blockchain innovations have transformed prediction markets into decentralized platforms like Polymarket, enabling transparent, censorship-resistant trading using digital tokens. These platforms broadened access beyond institutional players, allowing global participants to trade event outcomes ranging from politics and economics to entertainment and science.
Prediction markets effectively aggregate dispersed information, with participants financially motivated to make accurate predictions due to the potential for profit or loss. These markets offer continuously updated, real-time probabilities, and their accuracy and efficiency are often tied to their liquidity, which refers to the ease of buying and selling shares.
Prediction markets offer several benefits, including improved forecast accuracy compared to traditional methods, especially as an event approaches. They can also serve as an early warning system for future events or shifts in public sentiment, with market prices providing a transparent view of collective expectations. Businesses and policymakers can leverage this data to support strategic decisions and resource allocation.
Despite their popularity, prediction markets face challenges, including regulatory hurdles, concerns about manipulation and the potential for low liquidity in niche markets. The legality of certain types of prediction markets can vary by jurisdiction, particularly when they resemble gambling.
Polymarket is a decentralized prediction market platform built on blockchain technology, specifically operating on the Polygon network, which is a Layer-2 scaling solution for Ethereum.
It allows users to bet on the outcomes of real-world events using cryptocurrencies (mainly the USDC stablecoin), running transactions through smart contracts on the blockchain.
The lead-up to the 2024 US presidential election cycle boosted Polymarket’s popularity. Trading volumes rose as Polymarket attracted crypto users betting on a range of political events. The increasingly unpredictable political landscape, including high-profile events like the assassination attempt on then-candidate Donald Trump, and speculative bets on President Joe Biden stepping out of the race, fueled explosive interest in the platform. The US presidential debate in June 2024 was an especially notable moment, which caused daily trading volumes to spike.
The platform processed billions in bets during the election cycle, with the presidential winner market alone handling hundreds of millions of dollars in trading volume by early September 2024.
Pop culture events, like Taylor Swift’s engagement to Travis Kelce, also generated substantial betting activity, helping to drive viral retail participation and media attention.
Polymarket is non-custodial, which means it does not hold user funds, and its operations are transparent and automated via blockchain, making it censorship-resistant and trustless.
At the time of this writing, its total value locked was nearly US$172 million, according to DeFiLlama.
Enforcement action by the Commodity Futures Trading Commission (CFTC) in 2022 forced Polymarket to block American users and pay a US$1.4 million civil penalty for operating an unregistered exchange.
The company gained US regulatory approval to relaunch by acquiring QCX for US$112 million in Q3 of this year, securing a designated contract market license for self-certification of event contracts under CFTC rules.
Elon Musk and Donald Trump Jr. have publicly endorsed Polymarket, with X officially naming it as its official prediction market partner in June 2025, and Trump Jr. joining its advisory board following a strategic investment. Collectively, those actions boosted the platform’s credibility and political influence.
Polymarket also recently partnered with MetaMask, which plans to integrate Polymarket’s prediction markets natively later in 2025, coinciding with MetaMask’s own token launch and perpetual futures trading rollout.
The company self-certified four contract types covering athletic events, scores, spreads and election winners, with plans to begin listing new contracts to US users from October 2025.
Unlike Polymarket, Kalshi is not primarily built on blockchain technology; instead, it operates as a regulated, centralized exchange for trading event contracts. Even so, Kalshi is increasingly embracing blockchain integration and crypto features, including partnerships with blockchain networks like Solana and Base to expand blockchain-based prediction market functionality. Since December 2024, Kalshi has surpassed Polymarket in prediction market trading volume and market share. As of September 2025, Kalshi held 66 percent of the global market.
Kalshi’s surge is powered by its regulated, US-based real-money exchange with event contracts, while Polymarket is mostly decentralized and international, supporting bets on a broader array of topics.
Both platforms have seen explosive growth in user activity. Other notable prediction market platforms include Augur, DexWin, Better Fan and Oriole Insights.
The landmark Polymarket-ICE deal validates the growing importance of real-time event-driven data in financial markets. Overall, this investment potentially ushers in a new era where prediction markets become essential tools for market forecasting and strategy, bridging the gap between traditional and DeFi.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
Rare earth element (REE) recycling is moving from niche curiosity to strategic necessity as the clean energy transition increasingly stokes demand for permanent magnets.
Currently, less than 1 percent of rare earths are recycled, even as magnet demand is projected to triple by 2035. The gap could leave the west facing as much as a 30 percent supply shortfall unless scrap flows are tapped at scale.
“Today, magnetic REEs make up around 30 percent of overall REE volume, but they capture more than 80 percent of the value,” McKinsey notes in a July report. “Moving forward, global demand for magnetic REEs is expected to triple from 59 kilotons (kt) in 2022 to 176 kt in 2035, driven by strong growth in electric vehicle (EV) adoption, which is outpacing the substitution of REEs with copper coil magnets, as well as the high rate of renewable capacity expansions in wind.”
Policymakers are also starting to act: the EU’s Critical Raw Materials rules aim for recycling to meet roughly a quarter of the region’s rare earths needs by 2030, prompting public-private pilots and new plants across Europe.
At the same time, startups are commercializing lower-emission and higher-yield separation methods for NdFeB magnets and other feedstocks, from automotive scrap to end-of-life wind turbines.
One such company is Cyclic Materials. Founded in 2021, the privately owned Canadian cleantech company is working to advance a circular supply chain for REEs in North America.
“Our goal is to make these metals more circular by recycling end-of-life products, from electric motors in your cars to power tools in the garage, hard disk drives in data centers. The list really goes on — MRI machines, medical devices and whatnot, and basically recycle REEs and supply those back into the market,” he said.
Unlike other metals like copper, aluminum and nickel, which boast recycling rates of 40 percent, the rare earths recycling market has struggled. Part of the problem is the difficulty in separation.
Citing McKinsey’s report, Ghahreman noted that technical challenges are a major impediment to REE recycling. Magnets, often bonded with iron or steel, typically end up in steel recycling streams, causing valuable REEs to be lost.
Historically, low volumes of magnets in the market limited recycling efforts, but with demand for magnets set to surge — driven by EVs, wind turbines and electronics — recycling is becoming increasingly critical.
Cyclic’s proprietary MagCycle and REEPure technologies recover and refine REEs from end-of-life magnets in the products Ghahreman listed above, turning waste into reusable raw materials.
“For every 100 tonnes of material that comes to Cyclic Materials, more than 99 tonnes of that is recycled as a product,” he said. The remaining 1 percent is mixed, unrecyclable plastics.
After launching its first commercial demo plant in 2023 and a hydrometallurgical facility in Kingston, Ontario, in 2024, Cyclic is now expanding internationally, with Mesa, Arizona, marking its first US site.
Rare earths recycling is expected to be crucial to developing a robust critical metals supply chain outside China, which has dominated the sector’s refining and processing capacity for decades.
China is known for flexing its control over the market during times of tension — earlier this year, Beijing responded to US President Donald Trump’s tariffs with retaliatory rare earths export controls. In June, China granted several automakers fast-track licences helping to ease some of the market tension.
However, in October, China once again tightened export controls on 12 of the 17 rare earths, including holmium, erbium and europium — key inputs for EVs, aerospace and defense. Exporters now need licenses, and Beijing is expected to reject applications linked to military or advanced artificial intelligence uses.
The rules extend to foreign companies using Chinese rare earths or technology, echoing US-style export restrictions, with violators risking loss of access to Chinese suppliers.
The new export restrictions have escalated tensions with the US, with Trump threatening to impose ‘massive’ new tariffs on Chinese imports. He has also criticized China’s actions as ‘hostile,’ and accused it of attempting to monopolize global supply of rare earths, which are crucial for industries like EVs and aviation.
Against that backdrop, Ghahreman sees Cyclic steadily ramping up its capacity and output for the next decade.
“Within the next five to 10 years, Cyclic Materials’ recycled rare earth products are expected to supply enough material equivalent to three or four rare earth mines,” he said, adding that the company isn’t competition for traditional miners, but more of a supplement to the mining sector as demand for rare earths is projected to outpace production.
More immediately, Cyclic announced a US$25 million investment to establish North America’s first Center of Excellence for rare earths recycling in Kingston, Ontario, in June.
Ghahreman expects the Mesa, Arizona, site to open during the first half of 2026.
While he would not speculate on when an initial public offering may be coming, in April, Amazon’s (NASDAQ:AMZN) Climate Pledge Fund was announced as an investor in Cyclic’s Series B round.
Although the company has growth ambitions like any other, Ghahreman was adamant that Cyclic exists because of two very specific statistics. “The key reason Cyclic Materials was started was that rare earth metals are the most critical of metals because of the projection for their consumption in our future gadgets, but at the same time, the least circular of metals because they’re not being recycled today,” he explained.
“Those two stats didn’t sit well with me, and I really needed and wanted to change that.”
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
Brightstar Resources (BTR:AU) has announced September Quarter Gold Production Increases by 90%
Download the PDF here.
European Lithium Ltd (ASX: EUR, FRA:PF8, OTC: EULIF) (European Lithium or the Company) is pleased to announce that Critical Metals Corp. (Nasdaq: CRML) in an off-market transaction has sold a further 3.85 million CRML shares to a single US institutional investor at US$13 per share (a 12% discount to Fridays closing price of US$14.98) for net proceeds US$50M (approx. $A76m) net proceeds to EUR.
Executive Chairman of European Lithium Tony Sage said, “The recent price increase and the large trading volumes on the Nasdaq shows the demand for CRML shares is huge. The remaining 56 million shares held in CRML, using the $US14.98 closing price on the Nasdaq on Friday, values the Company’s holding at approximately $US854M ($A1.294B), which is well above the current market capitalisation of EUR. The Company’s holding in CRML equates to A$0.89c per EUR share. EUR also holds a direct 7.5% interest in the Tanbreez project and given the current market valuation of CRML ($A2.3bn), this equity interest is very strategic.”.
About European Lithium
European Lithium Limited is an exploration and development stage mining company focused mainly on lithium, rare earth, precious metals and base metals in Austria, Ireland, Ukraine, and Australia.
For more information, please visit https://europeanlithium.com.
About Critical Metals Corp.
Critical Metals Corp (Nasdaq: CRML) is a leading mining development company focused on critical metals and minerals, and producing strategic products essential to electrification and next generation technologies for Europe and its western world partners. Its flagship Project, Tanbreez, represents one of the world’s largest, rare-earth deposits located in Greenland. Another key asset is the Wolfsberg Lithium Project located in Carinthia, 270 km south of Vienna, Austria. The Wolfsberg Lithium Project is the first fully permitted mine in Europe and is strategically located with access to established road and rail infrastructure and is expected to be the next major producer of key lithium products to support the European market.
Wolfsberg is well positioned with offtake and downstream partners to become a unique and valuable building block in an expanding geostrategic critical metals portfolio. In addition, Critical Metals owns a 20% interest in prospective Austrian mineral projects previously held by European Lithium Ltd. With this strategic asset portfolio, Critical Metals Corp is positioned to become a reliable and sustainable supplier of critical minerals essential for defense applications, clean energy transition, and next-generation technologies in the western world.
Click here for the full ASX Release
Altech Batteries (ATC:AU) has announced Altech – $6M Placement to Advance Battery Projects
Download the PDF here.
Yvonne Blaszczyk, president and CEO of BMG Group, discusses the factors that have pushed gold past US$4,000 per ounce and shares her next price target for the metal.
In her view, US$5,000 is in the cards, and the outlook is strong for silver and platinum as well.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
HIGHLIGHTS
– Major General (Ret.) Peter J. Lambert appointed to the Locksley Advisory Board, + 30 years leadership in U.S. intelligence, defense and advanced technology integration
– Former Assistant Deputy Chief of Staff for Intelligence, Surveillance and Reconnaissance (‘ISR’) at U.S. Air Force Headquarters
– Senior executive at General Dynamics Information Technology, a leading U.S. defense and aerospace technology company
– Appointment aligns with Locksley’s 100% American mine-to-market vision, leveraging defense grade systems integration, operational intelligence, and secure supply-chain development
– Strengthens Locksley’s leadership in the U.S. race to secure domestic supplies of rare earths and antimony, positioning the Company at the forefront of America’s drive for critical minerals independence
– Advisory focus, strategic capability development, U.S. government and defense engagement and strategic foresight for market and policy resilience
Strategic Appointment of Peter J. Lambert to Advance U.S Critical Minerals Independence
Major General (Ret.) Peter J. Lambert brings more than 30 years of leadership across U.S. intelligence, surveillance, reconnaissance (ISR), and national security operations to the Locksley Advisory Board.
A retired U.S Air Force Major General, Peter served as Assistant Deputy Chief of Staff for Intelligence, Surveillance and Reconnaissance at U.S. Air Force Headquarters, overseeing ISR capabilities across the Air Force and coordinating with U.S. intelligence agencies to enhance mission readiness and strategic insight.
Following his distinguished military service, Peter joined GDIT, where he contributed to the advancement of secure communication, data integration, and intelligence technologies supporting national defence and aerospace innovation. His work at GDIT focuses on aligning complex technical systems with operational needs, experience that directly parallels Locksley’s vision of integrating exploration, processing, and market delivery into one cohesive Mine-to-Market strategy.
Over his career, Peter has held senior appointments with the Defense Intelligence Agency (DIA), National Security Agency (NSA), and The Joint Staff, developing expertise in system integration, organisational transformation, and multi-domain coordination. He holds a Master’s degree in National Security Affairs, a Bachelor of Arts in International Studies and has completed advanced studies in joint command, cyber operations, and strategic foresight. Additionally, he served as a National Defense Fellow at the Atlantic Council of the United States, in Washington, D.C.
Defense Grade Experience to Support Mine-to-Market Execution
Peter Lambert’s appointment brings unique defence grade strategic and operational expertise to Locksley’s mission of developing a vertically integrated, 100% American mineto-market critical minerals business. His experience will be leveraged in several key areas:
1 – Advanced Systems Integration & Intelligence Driven Decision-Making
Drawing on his work at GDIT and the U.S. Air Force, Peter will advise on intelligence based frameworks that enhance operational visibility, project planning, and risk assessment from mine development to market delivery.
His approach to integrating complex systems will help Locksley executives establish bestin-class governance and real-time data flow between exploration, processing, logistics, and customer engagement.
2 – Strategic Capability Development & Organisational Design
As Locksley transitions from exploration to production and downstream operations, Peter’s experience leading large, technically complex organisations will help guide structure, resource planning, and leadership alignment across all workstreams.
3 – Government, Defence, and Industry Engagement
Peter’s extensive network in the U.S. defense national security and defence sectors will support Locksley’s engagement with key government and strategic partners particularly in the context of critical minerals supply chain resilience and domestic industrial capability.
4 – Strategic Foresight & Risk Intelligence
Peter’s background in ISR and scenario planning equips him to help Locksley anticipate market, policy, and geopolitical shifts, ensuring the company remains adaptive and future ready as demand for antimony and rare earth elements accelerates.
Kerrie Matthews Locksley Chief Executive Officer commented;
‘Peter’s appointment to the Locksley Advisory Board, comes at a pivotal time for the United States as the nation seeks to secure and strengthen its domestic supply of critical minerals.
His exceptional background spanning military intelligence, defence industry leadership, and strategic operations will bring immense value to Locksley as we advance our Mojave Project and broader North American expansion strategy.
Peter’s experience will provide strong stewardship as we continue building a secure, technologically advanced mine-to-market supply chain that aligns with U.S. strategic objectives for critical minerals independence. We are delighted to welcome Peter to the Locksley Advisory Board and look forward to his guidance as we continue to unlock value and deliver on our mission.’
About Locksley Resources Limited:
Locksley Resources Limited (ASX:LKY,OTC:LKYRF) (FRA:X5L) (OTCMKTS:LKYRF) is an ASX listed explorer focused on critical minerals in the United States of America. The Company is actively advancing exploration across two key assets: the Mojave Project in California, targeting rare earth elements (REEs) and antimony. Locksley Resources aims to generate shareholder value through strategic exploration, discovery and development in this highly prospective mineral region.
Mojave Project
Located in the Mojave Desert, California, the Mojave Project comprises over 250 claims across two contiguous prospect areas, namely, the North Block/Northeast Block and the El Campo Prospect. The North Block directly abuts claims held by MP Materials, while El Campo lies along strike of the Mountain Pass Mine and is enveloped by MP Materials’ claims, highlighting the strong geological continuity and exploration potential of the project area.
In addition to rare earths, the Mojave Project hosts the historic ‘Desert Antimony Mine’, which last operated in 1937. Despite the United States currently having no domestic antimony production, demand for the metal remains high due to its essential role in defense systems, semiconductors, and metal alloys. With significant surface sample results, the Desert Mine prospect represents one of the highest-grade known antimony occurrences in the U.S.
Locksley’s North American position is further strengthened by rising geopolitical urgency to diversify supply chains away from China, the global leader in both REE & antimony production. With its maiden drilling program planned, the Mojave Project is uniquely positioned to align with U.S. strategic objectives around critical mineral independence and economic security.
Tottenham Project
Locksley’s Australian portfolio comprises the advanced Tottenham Copper-Gold Project in New South Wales, focused on VMS-style mineralisation
Source:
Locksley Resources Limited
Contact:
Kerrie Matthews
Chief Executive Officer
Locksley Resources Limited
T: +61 8 9481 0389
Kerrie@locksleyresources.com.au
News Provided by ABN Newswire via QuoteMedia
Highlights
– Binding Commitments to raise $6 million at an Issue price of $0.045 per share
– Strong foundations set to deliver further trials and sales of UPS batteries, source project finance of CERENERGY(R), complete the 90kWh battery prototype and assess the 4 GWh Giga factory for large scale production
– Funds will be used to further progress a variety of value accretive activities at the CERENERGY(R), AMPower and Silumina AnodesTM Projects
The Shares and Options under the Placement will be issued out of the Company’s available capacity under Listing Rules 7.1. It is proposed that the shares will be issued on 20 October 2025. The options represent a new class of listed security and as such, will require a Prospectus to be issued prior to the options being allotted. Altech is now working on the Prospectus and aims to have it finalised within the coming weeks.
The Placement was jointly managed by Evolution Capital and Alpine Capital. The costs associated with the Placement was a combined 6% fee on all funds raised plus 60,000,000 options. Further details regarding the Placement are set out in the Appendix 3B of today’s date.
The funding establishes balance sheet flexibility for the Company to execute on the following near term `milestones:
– Trials and sales of Altech UPS batteries: Initial sales anticipated of advanced UPS batteries, targeting critical infrastructure customers across Europe, Australia, and the United States.
– Funding Deals: sourcing project finance for the 120 MWh CERENERGY(R) production facility in Germany, supporting large-scale commercial rollout.
– Pilot Plant and Battery Commercialisation News:
o Completion of the larger 90kWh battery prototype for the CERENERGY(R) project.
o Preliminary assessment for establishing a 4 GWh Giga factory for largescale production.
Managing Director Mr Iggy Tan stated ‘We are encouraged by the strong market interest in our current initiatives. This capital raise comes at an exciting time for Altech as it establishes its selling, distribution and installation infrastructure for AMPower produced Altech branded sodium nickel chloride (SNC) batteries and advances the commercialisation of its 120MWh CERENERGY(R) battery project. With the operation of the Silumina Anodes(TM) pilot plant completed and NDAs signed with major US and European car manufacturers, Altech is readying itself to provide commercial samples of the product. A portion of the funds will also be allocated to a preliminary study for a larger 4 GWh battery facility, marking the next significant step towards commercialisation’.
About Altech Batteries Ltd:
Altech Batteries Limited (ASX:ATC,OTC:ALTHF) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS (‘Fraunhofer’) to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.
The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech’s land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.
Source:
Altech Batteries Ltd
Contact:
Corporate
Iggy Tan
Managing Director
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com
Martin Stein
Chief Financial Officer
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com
News Provided by ABN Newswire via QuoteMedia
Here’s a quick recap of the crypto landscape for Friday (October 10) as of 9:00 p.m. UTC.
Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.
Bitcoin (BTC) was priced at US$116,726, a 3.6 percent decrease in 24 hours. Its lowest valuation of the day was US$116,242, and its highest was US$122,359, recorded shortly after trading began on major indexes.
Bitcoin price performance, October 10, 2025.
Chart via TradingView.
Bitcoin has logged a weekly loss of around 5.2 percent.
Key support zones are being tested, which could attract dip buyers, potentially setting the stage for a rebound. However, a sustained break below could invite additional downside before market stability returns.
The week was capped by a sharp selloff as Bitcoin dipped in late Friday trading, triggering over US$850 million in liquidations in 24 hours, with the majority being long positions. A contraction in futures open interest confirms that traders are exiting leveraged positions and further supports the narrative of a healthy market reset.
The immediate focus will be on Bitcoin’s ability to reclaim its US$117,000 to US$120,000 support zone over the weekend. Technical momentum indicators suggest the market remains in a consolidation phase, with volatility compression possibly foreshadowing a large directional move in the coming weeks.
Ether (ETH) was priced at US$3,998.07, an 8 percent decrease in 24 hours. Its lowest valuation of the day was US$3,976.33, and its highest was US$4,386.23.
A group of leading international banks, including BNP Paribas (EPA:BNP), Bank of America (NYSE:BAC), Goldman Sachs (NYSE:GS), Deutsche Bank (NYSE:DB), Citigroup (NYSE:C), UBS Group (NYSE:UBS) and others, has announced a joint exploration into issuing a stablecoin pegged to major G7 fiat currencies.
The initiative seeks to use digital assets to create a stable payment option that boosts competition and efficiency in financial markets, especially cross-border payments. The banks emphasize that they will ensure full compliance with regulatory requirements and adopt best risk management practices.
The project is in its early stages and will involve ongoing coordination with regulators and supervisors across relevant markets. While no specific timeline has been announced, this collaboration signals growing institutional interest in blockchain-based financial innovation.
Kalshi completed a Series D funding round of over US$300 million led by Sequoia Capital and Andreessen Horowitz (a16z), with participation by Paradigm, CapitalG, Coinbase Ventures, General Catalyst and Spark Capital.
The latest round brings the company’s valuation to US$5 billion and comes after Kalshi closed a separate US$185 million funding round in June; it was led by Paradigm and also featured Sequoia. The platform also announced an international expansion with an immediate launch in 140 new markets.
“International users can now access the platform via the Kalshi website with an identical product experience to American users,” the company said in a press release.
Prestige Wealth (NASDAQ:AURE) announced it has secured approximately US$150 million in financing to establish Nasdaq’s first digital gold treasury focused on Tether Gold, a gold-backed stablecoin issued by Tether. This milestone is part of a broader plan to integrate tokenized gold into the company’s reserve assets. As part of the transition, Prestige Wealth will rebrand itself as Aurelion and start trading under the ticker symbol AURE on October 13.
The financing package consists of a US$100 million private investment in public equity, with Antalpha Platforms as the lead investor, supported by Tether and Kiara Capital. Additionally, there is a US$50 million senior debt facility. Most of these funds will be allocated to acquiring Tether Gold, which will serve as Aurelion Treasury’s reserve asset.
Major altcoins faced losses on Friday as cryptocurrency traders took profits from Bitcoin’s record-breaking rally, even as spot exchange-traded fund (ETF) demand remained strong.
Solana, XRP, Dogecoin and Cardano each slid up to 3 percent, according to CoinDesk. Despite the retreat, US-listed Bitcoin ETFs drew US$2.72 billion in inflows this week, highlighting resilient institutional appetite.
The ETF surge underscores Bitcoin’s growing role as a “digital safe haven,” especially amid gold’s surge above US$4,000 per ounce. However, a possible pullback to the US$107,000 to US$115,000 range could be imminent ahead of the US Federal Reserve’s October policy meeting.
The European Commission said Friday that existing crypto regulations under MiCA are adequate to handle stablecoin risks, pushing back on calls from the European Central Bank (ECB) for stricter oversight.
According to Reuters, the ECB had urged Brussels to introduce new safeguards against “multi-issuance” models, where stablecoins minted outside the EU could be treated as interchangeable with those issued within.
Industry groups, including members like Circle Internet Group (NYSE:CRCL), asked the commission to formally clarify that multi-issuance is allowed under current rules. In a statement to Reuters, the commission said MiCA already provides a “robust and proportionate framework,” and that further guidance will be published soon.
The ECB’s main concern is that redemptions from non-EU tokens could drain reserves inside the bloc, posing systemic risks. Stablecoin issuers countered that their reserve structures already mitigate such threats.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.