Hey Wallet, the non-custodial Solana-based social wallet, has announced it will be shutting down all of its products after nearly five years of operation.

 

Hey Wallet, which was launched in 2021 during a Solana hackathon, was founded to make sending cryptocurrencies as simple as using social media by allowing people to transfer SOL directly via Twitter/X handles.

 

Thus, instead of having to copy long wallet addresses, Hey Wallet leverages users' X handles or social usernames. Since it was linked to users' social accounts, Hey Wallet enabled transactions to occur seamlessly in-app through users' social accounts, while allowing users to retain control of their private keys.

 

Although the team did not explicitly state the reason for the closure, Hey Wallet's shutdown comes at a time when several crypto companies, including crypto wallets, have shut down or strategically pivoted into other sectors such as AI.

 

On September 1 of this year, the non-custodial wallet Cosmostation ceased its operations after previously announcing that users should export their private keys and assets before the shutdown, a similar move made by Cyberwallet last month.

 

Other crypto wallets, such as Magic Eden Wallet, have had to repivot and change their operational focus, shifting from being a multi-chain wallet to a Solana-focused wallet.

 

Coinbase and MetaMask have also made similar changes to their wallet operations. For Coinbase, the Base App was rebranded back to Coinbase Wallet, with a focus on multi-chain trading, while MetaMask split from its parent company, Consensys, and continued operating as an independent consumer-focused wallet company.

 

Two crypto billionaires, Ben Delo and Christopher Harborne, have both made political donations totaling £72 million (or $97 million) to Nigel Farage’s Reform UK political party.

 

The donations, which were first kickstarted by Ben Delo, BitMEX co-founder and recipient of President Trump’s presidential pardon, saw Delo make a £36 million donation, the largest single donation ever made to a UK political party.

 

In the aftermath of the donation, Christopher Harborne, a Thailand based investor linked to Tether and Bitfinex, matched Delo’s donation by also donating £36 million to the Reform UK party. For Harborne, the donation was a philanthropic gift made for the betterment of the party.

 

Responding to the donations from the two crypto investors, Nigel Farage said he was humbled and honored by their contributions while reiterating the confidence they have in the party.

 

“Both men know that we are the only party that can turn the country around and win the next general election. Thanks to their generosity, we are now able to fight that election on a level playing field.”

 

Past Donations 

 

While Ben Delo is a more recent political donor, with all of his known contributions occurring this year, including the £8 million he donated to the party before this huge cash gift, Christopher Harborne has a long history of political donations.

 

Between 2019 and 2020, Harborne donated around £10 million to the Brexit Party, Reform’s predecessor. He also made a single £9 million donation to the Reform Party, followed by an additional donation of roughly £3 million to the party in the first quarter of this year, bringing his total donations to the party to around £15 million to £22 million.

 

Although the UK in March of this year imposed a moratorium, or temporary ban, on cryptocurrency donations to political parties, non-party campaigners, and other related political entities following the Rycroft Review, the donations from these crypto investors were not considered a violation because they were made in cash.

 

UniCredit, Italy’s second largest bank, is reportedly considering entering the crypto and digital asset custody market, according to a Bloomberg report.

 

Although UniCredit has yet to publicly announce its intention to offer crypto custody services, Bloomberg, citing people familiar with the matter, reported that the bank is already selecting a provider to build custodial infrastructure that would allow it not only to hold digital assets but also facilitate their buying and selling.

 

In addition to custodial services, Bloomberg also reported that the bank is considering other areas of crypto, including tokenized investment products and fixed income securities, the use of stablecoins, and exposure to cryptocurrencies, as possible areas of expansion.

 

UniCredit’s expansion into crypto custody comes at a time when financial institutions are also considering expanding into the sector.

 

Just recently, Jack Dorsey owned financial technology company Block formally applied to the Office of the Comptroller of the Currency (OCC) to establish a National Trust Bank that would allow it to offer crypto custody services.

 

In August, Citibank also announced plans to launch a native Bitcoin custody service that would allow its clients to hold Bitcoin alongside traditional assets such as stocks and bonds.

 

While UniCredit has yet to officially issue a public statement regarding the move, speculation surrounding the bank’s plans to expand into crypto custody could be a significant development for the crypto industry if successful, as it would enhance crypto adoption, bridging the gap between blockchain-based finance and traditional finance.

 

The Australian Transaction Reports and Analysis Centre (AUSTRAC) has cancelled, suspended, or refused to renew the registrations of 45 remittance and virtual asset service providers (VASPs).

 

The actions were taken due to several shortcomings identified among these businesses, including a lack of operational capacity, dormancy or inactivity, insolvency, failure to hold the appropriate registration, an inability to provide designated virtual asset services over a prolonged period, and breaches of Australia’s anti money laundering and counter terrorism financing laws.

 

“Businesses with cancelled registrations can no longer operate and, where appropriate, we’ve referred individuals behind these businesses to law enforcement and regulatory partners locally and overseas,” AUSTRAC CEO Brendan Thomas said.

 

“Financial crime operates across borders, and we work closely with our domestic and international partners to strengthen the financial system not just in Australia, but globally.”

 

AUSTRAC Deregisters Getcoins

 

Among the 45 businesses deregistered by the Australian regulator was Getcoins, an Australian virtual asset service provider operated by BA Digital Ventures Pty Ltd.

 

Shedding more light on the action, AUSTRAC said the deregistration followed several customer complaints it had received about Getcoins.

 

Following the complaints, AUSTRAC requested information from Getcoins regarding its operations and to assess the firm’s ability to manage its money laundering risks.

 

The regulator later concluded that Getcoins had allegedly been exploited by organised cryptocurrency investment scams. By working with the National Anti Scam Centre (NASC) and cancelling Getcoins’ registration, AUSTRAC said it helped disrupt the organised investment scam activity.

 

AUSTRAC has intensified its scrutiny of the payments, remittance and crypto sectors in recent months due to the heightened money laundering, terrorism financing and other serious crime risks associated with these industries.

 

The regulator’s recent actions include suspending Cryptolink’s registration, which prevented the company from operating its network of 96 cryptocurrency ATMs, as well as launching an ongoing investigation into Western Union over concerns about its management of high risk payment channels, customers and affiliates.

 

Tether-backed Chilean cryptocurrency exchange Orionx has announced its shutdown after a forensic audit confirmed the outflow of more than $7 million from the exchange to wallets not under the company’s control.

 

Announcing the closure, Orionx said in an official statement that it had filed a complaint with Chile’s Public Prosecutor’s Office against the exchange’s former executives and co-founders, Roberto Zibert and Joaquín Díaz, accusing them of disloyal administration.

 

 

In the complaint, the exchange accused its former executives of moving customers’ crypto assets, including Bitcoin, Ether, XRP, and Polygon, between 2018 and 2021. Orionx said the transactions were concealed from the exchange and that the assets were transferred to wallets that did not belong to the company.

 

Although a breakdown of Deloitte’s $7 million shortfall has yet to be published, several Chilean news outlets, including La Tercera and BioBioChile, reported that the shortfall included $3.93 million worth of Bitcoin, $2.29 million worth of Ether, and approximately $201 worth of Polygon.

 

Closure Plans

 

As part of its shutdown plans, Orionx has temporarily suspended withdrawals from the exchange. While the asset closure and restitution plans have already been reported to the relevant authority, the exchange said it would do everything in its power to return as many assets as possible to its clients.

 

Prior to its closure announcement, Chile’s Financial Market Commission (CMF) rejected Orionx SpA’s application in June to register with the Registry of Financial Service Providers and obtain authorization under the Fintech Law.

 

Orionx was one of seven companies whose applications were rejected by the CMF due to observations that the companies failed to remedy during the evaluation process, as well as failures to submit the necessary documentation.

 

Hargreaves Lansdown, the UK’s largest retail investment platform, has begun listing Bitcoin and Ether exchange traded notes (ETNs) for its roughly 2 million clients.

 

The listing, which comprises nine crypto ETNs from major issuers, including BlackRock’s iShares, WisdomTree, 21Shares, Invesco, CoinShares, and Bitwise, comes shortly after the Financial Conduct Authority lifted its four year ban on UK investors buying crypto ETNs in October 2025.

 

Eligible clients will now be able to buy, hold, and sell regulated Bitcoin and Ether exchange traded notes (ETNs), which track the prices of Bitcoin and Ether. Since the crypto ETNs only directly track the prices of the underlying cryptocurrencies, clients do not own the underlying assets.

 

Regarding the launch, Doug Abbott, Hargreaves Lansdown’s chief product officer, told the Financial Times, “We want clients to … understand what they are investing in,” adding that there would be the “right level of friction” involved in the buying process, given that highly volatile cryptocurrencies are not suitable for everyone.

 

According to Abbott, the launch of the ETNs followed consistent inquiries about the products from its sophisticated user base. The firm also said that the necessary security measures were already in place to ensure that the platform was safe and ready to support the ETNs.

 

About Hargreaves Lansdown

 

Hargreaves Lansdown is the UK’s largest direct to consumer retail investment platform, allowing private investors to save, invest, and manage their pensions. Through its app and platform, Hargreaves offers a wide range of products, including Stocks and Shares ISAs, SIPPs (self invested personal pensions), Fund and Share dealing accounts, cash savings, and ETFs.

 

Although Hargreaves had long held a cautious and skeptical view of cryptocurrencies and had frequently downplayed the economic relevance and potential of Bitcoin, it has had to adjust its position, particularly amid the rapid mainstream adoption of cryptocurrencies. This shift is evident in the launch of its crypto ETN offering.

 

 

Binance, the world’s largest cryptocurrency exchange, has signed three memorandums of understanding with key entities and institutions in Kazakhstan.

 

In a blog post announcing the agreements, Binance said the MoUs focus on key sectors of Kazakhstan’s economy and were signed with the Ministry of Artificial Intelligence and Digital Development, the National Bank of Kazakhstan, and the Astana International Financial Centre (AIFC).

 

Under the memorandum signed with Kazakhstan’s Ministry of Artificial Intelligence and Digital Development, Binance will cooperate on digital assets, digital and computing infrastructure, and innovative payment solutions, while exploring the possibility of issuing a stablecoin backed by the Kazakhstani tenge.

 

The second memorandum, signed with the National Bank of Kazakhstan, focuses on building payment and digital financial infrastructure, with Binance and the National Bank potentially exploring opportunities to position Kazakhstan as a regional payments and fintech hub.

 

To ensure the initiative is practically implemented and moves beyond a paper plan, Binance and the National Bank of Kazakhstan have already created a roadmap outlining the different phases for building payment infrastructure, obtaining licenses, and launching new payment products.

 

The third memorandum, signed between Binance and the Astana International Financial Centre (AIFC), is aimed at strengthening cooperation under the Investment Tax Residency Programme and expanding the potential use of digital assets as part of Kazakhstan’s modern investment infrastructure.

 

According to Renat Bekturov, Governor of the Astana International Financial Centre, the expansion will enable investors to better access new opportunities within the AIFC ecosystem and contribute to the further development of Kazakhstan’s digital asset market.

 

The United States Scam Center Strike Force has entered into a partnership with the Crown Prosecution Service of England and Wales and the United Kingdom’s National Crime Agency to combat scam centers involved in cryptocurrency scams and other cyber enabled investment fraud (CIF) schemes targeting Americans and Britons.

 

The memorandum of understanding (MOU), which was signed Thursday at the residence of Sir Christian Turner KCMG, His Majesty’s Ambassador to the United States, was attended by other key officials, including Jeanine Ferris Pirro, the U.S. Attorney for the District of Columbia; Stephen Parkinson, the Crown Prosecutor for England and Wales; and Graeme Biggar, Director General of the U.K.’s National Crime Agency.

 

With the signing of the memorandum, the two countries can now work together to conduct parallel investigations into common targets, share information on crime syndicates, discuss which jurisdictions should bring cases involving matters of common interest, and coordinate efforts to achieve mutually beneficial results.

 

“Together we will disable the Chinese TOC networks that are operating these scam compounds and depriving our citizens of their hard-earned funds, all while using human trafficked labor to increase their profit. Standing together, we are invincible,” said Jeanine Ferris Pirro, U.S. Attorney for the District of Columbia.

 

So far, agencies from both countries involved in the partnership have identified significant areas of overlap and will bring private industry partners on board at an event scheduled to be organized by the National Crime Agency in London in early October.

 

About the U.S. Scam Center Strike Force

 

Launched in November 2025 by U.S. Attorney Jeanine Ferris Pirro, the U.S. Scam Center Strike Force is a multiagency law enforcement initiative created to combat scam centers, particularly syndicates operating in Southeast Asia.

 

Focusing heavily on cryptocurrency related and other cyber enabled fraud, the initiative has reported significant successes since its launch, including the seizure of more than $800 million worth of cryptocurrency and 503 .com domains tied to Chinese crime rings.

 

Global cryptocurrency exchange Coinbase has launched derivatives contracts for eligible Canadian investors seeking to trade and speculate on a trusted platform.

 

 

The derivatives contracts, which will be offered through Coinbase Financial Markets, are the first of their kind from a crypto native platform in Canada, giving investors access to highly liquid and regulated contracts, including 23 perpetual and dated futures covering assets such as Bitcoin, ETH, and SOL; five commodity futures covering gold, silver, and oil; and index futures.

 

Regarding the features of the newly launched derivatives contracts, Coinbase said in a blog post that the contracts are regulated by its financial markets arm, an entity registered with the U.S. Commodity Futures Trading Commission (CFTC). The contracts will also be flexible, with nano sized contracts designed for investors with lower upfront capital requirements.

 

Coinbase’s derivatives contract launch comes at a time when the exchange has rolled out more customizable charting and interface features on Coinbase Advanced.

 

Rather than forcing every trader to use the same chart setup, the rollout is aimed at making it easier for traders to customize their trading screens. Traders can switch between candlestick and line charts, change time frames, adjust chart settings and technical indicators, and use drawing tools.

 

The benefits of these features are that traders can spot market trends faster, identify potential entry and exit points, and analyze market movements more effectively.

 

Brazil’s central bank has announced plans to implement a system that monitors threats to crypto assets and issues real time alerts when potential risks are detected.

 

The monitoring system, which is being developed through a partnership between Brazil’s central bank and blockchain security firm Hypernative, has reportedly been tested with market participants and will be implemented by industry associations within the next two weeks.

 

When launched, either the central bank or Hypernative will be able to receive these alerts and distribute the messages to their members in real time.

 

Speaking to Valor Econômico, Brazil’s largest financial publication, Regina Pedroso, executive director of the Brazilian Tokenization Association, said the initiative began to be discussed at the end of last year, when the central bank began forming a working group among blockchain associations tasked with monitoring and warning of cyberattacks.

 

According to Pedroso, the monitoring system was tested among member blockchain associations, including Mercado Bitcoin and Foxbit, two of Brazil’s largest cryptocurrency exchanges. Pedroso also noted that the central bank had already issued a bulletin outlining how the system will be implemented among association members.

 

The launch of the monitoring system by Brazil’s central bank underscores the country’s efforts to track threats involving crypto assets, particularly because cryptocurrencies can provide an exit rail for cybercriminals and fraudsters.

 

Although there has not been any major institutional cyberattack in Brazil this year, the country suffered several security incidents last year, most notably the hack of C&M Software, a technology company that connects smaller banks and fintechs to the central bank’s systems.

 

The hack reportedly led to the loss of approximately $140 million to $180 million, with $30 million to $40 million of the stolen funds reportedly converted into cryptocurrencies, including Bitcoin, Ether, and USDT, through OTC desks and exchanges in the region.

 

JPMorgan Chase, the largest bank in the United States, has signaled its interest in the possibility of launching its own stablecoin, the Wall Street Journal (WSJ) reported.

 

Although the bank has made no official announcement and has no active plans to launch a stablecoin at present, a JPMorgan spokesperson reportedly told the WSJ that the bank recently held a preliminary discussion about the possibility of creating its own stablecoin.

 

“While we have no plans to issue a stablecoin, depending on customer demand and the evolution of the regulatory landscape, we would of course evaluate all options in the future.”

 

If JPMorgan ever decides to move ahead with a stablecoin launch, the stablecoin will be very different from JPM Coin, a digital deposit token the bank launched on its permissioned Kinexys blockchain in 2019 to modernize institutional payments and settlements.

 

Growing Stablecoin Interest Among U.S. Banks

 

Like JPMorgan, several other U.S. banks and financial institutions have also been considering launching their own stablecoins.

 

Bank of America, Wells Fargo, and Santander have formed a global stablecoin venture comprising more than a dozen financial institutions.

 

Through this venture, the financial institutions plan to launch a dollar backed stablecoin, with possible expansion to stablecoins pegged to the euro and other G7 currencies over time.

 

Stablecoins have seen growing adoption among large financial institutions in recent times. 

 

According to a recent Fireblocks survey covering about 295 executives from banks and financial institutions, about 49% of these institutions actively use stablecoins for payments, while 23% are reportedly in the pilot phase and 18% plan to integrate stablecoins soon.

 

Monad, the high-performance EVM-compatible Layer-1 blockchain, has published a proposal aimed at giving users greater flexibility and changing how blockchain wallets manage authentication.

 

The proposal, titled “Flexible and Upgradeable Account Authentication,” was published by Kushal Babel and Jan Camenisch, two senior researchers at Category Labs, the engineering team behind Monad.

 

 

At its core, the proposal has one goal: to separate a wallet’s permanent address from the credentials that control it, thereby giving users the flexibility to add, replace, or retire keys without having to change the wallet’s address or move assets.

 

By publishing the proposal, Monad aims to address a key problem with current blockchain wallets. Since most wallet addresses are permanently derived from a single secp256k1 public key, losing the corresponding private key can make the wallet account unrecoverable.

 

As a solution to this problem, Monad is proposing an AuthConfig model, where every wallet account holds a mutable AuthConfig. This allows an account to hold multiple authenticators and a separate reconfiguration policy, enabling users to access their wallet accounts even if a private key is lost. At launch, the supported schemes will include secp256k1, P-256, Ed25519, WebAuthn/passkeys, ML-DSA (post-quantum), and a ZK-OAuth verifier.

 

Although there is currently no quantum computer capable of breaking the cryptographic schemes used by crypto wallets, several reports have projected that this could become possible in the future.

 

In addition to Monad, other companies, including Ledger and Coinbase, have also taken steps to develop quantum-resistant wallets. Coinbase has established an independent Quantum Advisory Council while also developing a post-quantum security roadmap.

 

Ledger has also added ML-KEM and ML-DSA, two NIST-standardized post-quantum cryptographic algorithms, to its Ledger SDK as part of its efforts to develop quantum-resistant wallet technology.