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Two Edelweiss Entities Settle Alternative Investment Fund Rules Violation Case With SEBI After Paying ₹61.4 Lakh Settlement Charge

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**Edelweiss Entities Settle Sebi Case Over Alleged AIF Rule Violations**

*New Delhi:* Two Edelweiss entities have reached a settlement with market regulator Sebi in a case involving alleged violations of alternative investment fund (AIF) rules. Collectively, they paid Rs 61.4 lakh towards settlement charges.

The entities involved – Edelweiss Stressed and Troubled Assets Revival Fund Trust and Edelweiss Alternative Asset Advisors Ltd – were also directed by Sebi that their officers-in-default will be barred from engaging with the company for 12 months.

“The instant adjudication proceedings initiated against the noticees, Edelweiss Stressed and Troubled Assets Revival Fund Trust and Edelweiss Alternative Asset Advisors Ltd, vide show cause notice dated July 12, 2024, are hereby disposed of,” said Sebi’s adjudicating officer Sudeep Mishra in the order dated Tuesday.

The order followed the filing of two settlement applications by the entities, proposing to settle proceedings initiated against them through the show-cause notice issued on July 12, 2024, without “admission or denial of the findings of fact and conclusions of law.”

### Background of the Case

The case originated from complaints lodged on SCORES, Sebi’s online grievance platform, alleging lapses in governance and conflict management against the Edelweiss-managed AIF.

According to the regulator, Edelweiss Stressed and Troubled Assets Revival Fund Trust failed to act in the interest of investors and did not exercise independent professional judgment, thereby violating Sebi’s norms.

Furthermore, Edelweiss Alternative Asset Advisors Ltd was found to have failed to carry out AIF activities in accordance with the Private Placement Memorandum (PPM) and submitted inaccurate information to the trustee in the compliance test report for the financial year 2016-17, constituting further violations of AIF regulations.

Following these findings, Sebi issued a show-cause notice to the entities on July 12, 2024.

### Settlement and Corrective Actions

After receiving the show-cause notice, the entities submitted revised settlement terms. These were approved by Sebi’s high-powered advisory committee, and the settlement amount was duly paid and confirmed by the regulator.

Edelweiss also informed Sebi of corrective measures undertaken, including:

– Formation of a fund board comprising independent members
– Establishment of a governance committee to monitor conflict situations
– Imposition of a one-year ban on officers-in-default from associating with the company

Sebi emphasized that the settlement is without prejudice to its right to reopen the matter should any disclosures be found false or incomplete.

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*Disclaimer: This story is from a syndicated feed. No changes have been made except to the headline.*
https://www.freepressjournal.in/business/two-edelweiss-entities-settle-alternative-investment-fund-rules-violation-case-with-sebi-after-paying-614-lakh-settlement-charge

Rupees negative drift demands central bank firepower

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By Nimesh Vora

**MUMBAI (Reuters)** – The Indian rupee is anticipated to face a difficult session on Friday, with most traders predicting that the central bank will likely intervene to prevent the currency from hitting a new all-time low.

The 1-month non-deliverable forward indicated the rupee will open flat to slightly weaker versus the U.S. dollar compared to Wednesday’s close of 88.69. India’s financial markets were closed on Thursday.

The rupee has been pressured in recent weeks by relentless dollar demand from importers, with sentiment remaining firmly skewed against the currency amid equity outflows and U.S.-India trade frictions. The Reserve Bank of India (RBI) has been stepping in to ensure the rupee’s decline remains orderly.

Central bank Governor Sanjay Malhotra reiterated earlier this week that the RBI is not defending any particular level of the currency and is instead focused on containing volatility and keeping moves measured.

The RBI support is “keeping things calm” for now, a currency trader at a bank said. However, overall sentiment remains weak, and the market wants to test the downside, he added.

Currency traders are closely watching the 88.80 level — the lifetime low for the rupee hit on Monday. With broad dollar demand keeping the pressure on, this level is seen as a key marker for potential intervention or a pause in the currency’s slide.

### Asian Cues

Asian cues did not lend any particular direction to the rupee on Friday, with peers mixed and the dollar index marginally higher.

A U.S. government shutdown has paused the release of key economic data, including Friday’s closely watched September jobs report, depriving markets of an important gauge for the Federal Reserve’s rate outlook.

With the official jobs report on hold, Wednesday’s private payrolls data drew heightened attention. The weak reading has increased expectations of a Federal Reserve rate cut this month.

“We could see a longer tail effect from the private jobs data, given the uncertainty around the payrolls release,” ING Bank said in a note.

### Key Indicators:

– One-month non-deliverable rupee forward at 88.86; onshore one-month forward premium at 14 paise
– Dollar index up at 97.86
– Brent crude futures up 0.3% at $64.3 per barrel
– Ten-year U.S. note yield at 4.1%
– As per NSDL data, foreign investors sold a net $453.4 million worth of Indian shares on September 30
– NSDL data shows foreign investors sold a net $12.1 million worth of Indian bonds on September 30
https://www.livemint.com/market/stock-market-news/rupees-negative-drift-demands-central-bank-firepower-11759460300977.html

Stablecoins to hit $1.9T as trust surpasses fees in exchanges

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A Citi (NASDAQ: C) report has predicted that the stablecoin market will achieve a $1.9 trillion valuation by the end of the decade in its base case scenario, while leaving room for an additional growth spurt. Citi analysts described stablecoins as the “ChatGPT moment” for the institutional adoption of blockchain technology.

Akin to the rise of artificial intelligence (AI) chatbots, the report anticipates stablecoins will experience significant growth in valuation over the coming years. While Citi forecasts a $1.9 trillion base case valuation for the asset class, the report also suggests stablecoins could climb to $4 trillion by the end of 2030 in its bull case scenario.

Currently, the global stablecoin market capitalization sits at $307 billion, up from $200 billion at the start of 2025. Citi bases its prediction on the 58% growth stablecoins achieved in 2025 alone, with analysts forecasting that this upward trend will continue through the decade.

### Growing Momentum in Stablecoin Projects

Aside from the strong performance in 2025, Citi analysts have highlighted an influx of stablecoin project announcements within the ecosystem. Early in the year, Trump-backed World Liberty Financial (WLF) entered the stablecoin race with the launch of USD1. Additionally, a number of U.S.-based financial institutions are planning their own stablecoin rollouts.

Citi attributes this surge in stablecoin initiatives to fresh regulatory support in the U.S., notably marked by the signing of the GENIUS Act by U.S. President Donald Trump.

### Use Cases and Industry Impact

While use cases for stablecoins have expanded to include domestic and cross-border payments, Citi notes that the stablecoin boom will not completely overhaul the existing financial system. Instead, analysts view this innovation as continued progress toward smarter, more efficient finance.

“We don’t believe crypto will burn down the existing system,” the Citi report reads. “Rather, it is helping us reimagine it.”

The report points out that domestic payments systems are already capable of processing payments in real-time and at low costs, providing stiff competition for stablecoins. However, cross-border payments remain the primary use case for stablecoins, with fintech firms and traditional financial institutions making significant progress to reduce settlement times and fees.

### Challenges Facing Stablecoins

Despite the positive outlook, Citi’s forecast also acknowledges several challenges within the stablecoin sector.

– **Regulatory Uncertainty:** Outside the U.S., regulatory frameworks remain unclear, hindering global adoption.
– **Reserve Transparency:** Questions about the reserves backing stablecoins continue to be a concern for issuers.
– **Market Manipulation Allegations:** Some stablecoins have faced accusations related to market manipulation.
– **High-Profile Collapses:** Failures such as TerraUSD (UST) have raised fears over collateral transparency, prompting tighter regulatory measures.

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### Digital Asset Exchange Users Prioritize Trust Over Low Fees: Kraken Survey

Mark Greenberg, global head of consumer at Kraken, revealed that U.S. digital asset users are not blindly chasing low fees but instead are weighing several factors when choosing an exchange.

The survey found:

– Only 16% of respondents cited fees as the primary consideration when selecting an exchange.
– 26% identified trustworthiness as the most important factor.
– 14% prioritized security features.

“As the market matures, investors value long-term confidence over short-term savings,” said Greenberg. “People want to know their assets are safe, that the platform is reliable, and that they can access the tools they need without unnecessary complexity.”

Interestingly, regulatory compliance was not a major concern for many users; only 6% said it influenced their exchange choice. Customer support was a significant factor for just 7% of respondents.

Given the variety of considerations, 44% of survey participants maintain accounts with at least two digital exchanges, while nearly 26% use over three platforms. This diversification allows users to manage platform risk and access a broader range of listings.

Kraken’s report also noted that trading volumes on decentralized exchanges have surged by 259% since 2024, driven by the increasing popularity of platforms like Hyperliquid and Astar.

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### Stiff Competition Among U.S. Exchanges

While Coinbase (NASDAQ: COIN) holds the largest market share among digital asset exchanges, several competitors are eager to expand their presence.

Kraken is considering going public, with plans to raise funds ahead of a tentative IPO in 2025, following the footsteps of Gemini and Coinbase.

However, amid this flurry of IPO activity, a race for regulatory compliance is intensifying among U.S.-based exchanges. This competitive atmosphere is compounded by recent security concerns, including customer data leaks at Coinbase and critical bugs at Kraken. These issues have led users to approach exchange selection with increased caution.

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### Watch | MiCA and the Future of Stablecoins: What Comes Next for Tether?

[Embedded YouTube video player]

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The stablecoin market stands at a pivotal point, poised for significant growth amid supportive regulation, rising adoption, and evolving use cases. However, challenges related to regulatory clarity and security remain critical areas to watch as the industry matures.
https://bitcoinethereumnews.com/tech/stablecoins-to-hit-1-9t-as-trust-surpasses-fees-in-exchanges/?utm_source=rss&utm_medium=rss&utm_campaign=stablecoins-to-hit-1-9t-as-trust-surpasses-fees-in-exchanges

Elon Musk halfway to becoming world’s first trillionaire – report

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WASHINGTON, United States — Billionaire Elon Musk, the world’s richest person, is nearly halfway to becoming the planet’s first trillionaire, Forbes magazine reported Wednesday.

The Tesla and SpaceX CEO became the first person to achieve a net worth of $500 billion, albeit briefly, as the shares in his electric vehicle company rebounded following a clumsy stint.

https://business.inquirer.net/550439/elon-musk-halfway-to-becoming-worlds-first-trillionaire-report

Elon Musk Becomes World’s First Person To Hit $500 Billion Net Worth: Forbes List

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While Tesla’s shares stumbled earlier this year, they are currently on a steady climb. This positive shift has been linked to Elon Musk’s renewed focus on his companies.

Elon Musk, the owner of Tesla, has become the first person to reach a net worth of nearly USD 500 billion. This milestone is credited to a strong rebound in Tesla’s stock and soaring valuations of his other ventures. According to the Forbes Billionaire Index, Musk’s total wealth touched USD 500.1 billion as of 4:15 PM ET on Wednesday, making him the richest individual in the world, far ahead of other business leaders.

Musk’s fortune remains closely tied to Tesla, where he owns a stake of more than 12.4 percent as of mid-September. Despite facing challenges in sales, the electric carmaker’s shares have gained more than 14 percent this year. On Wednesday alone, Tesla stock closed 3.3 percent higher, adding more than USD 6 billion to Musk’s wealth.

Tesla board chair Robyn Denholm recently noted that Musk is now “back front and center” at the company after months of distraction related to his activities at the White House. Supporting this renewed focus, Musk purchased nearly USD 1 billion worth of Tesla shares last month.

Tesla is currently racing to transform itself from a traditional carmaker into a leader in artificial intelligence and robotics. However, the company still faces pressure from weak car sales and shrinking profit margins, which have placed its stock among the laggards of the “Magnificent Seven” tech giants.

In response, Tesla’s board has proposed a USD 1 trillion pay package for Musk. This package ties his rewards to ambitious financial and operational goals, while also granting him the larger stake he has been seeking.

Musk’s growing empire outside Tesla has also fueled his wealth. His artificial intelligence venture, xAI, was valued at USD 75 billion in July, with reports suggesting it could aim for a USD 200 billion valuation in the near future. Musk, however, has denied plans to raise fresh funds for xAI.

Meanwhile, SpaceX, Musk’s rocket company, continues its expansion. Bloomberg News reported in July that SpaceX was considering a funding round that would value the firm at around USD 400 billion.

With Musk’s diversified portfolio and Tesla’s resurgence, his position as the world’s richest individual looks firmly secured for the foreseeable future.
https://www.news18.com/world/elon-musk-becomes-worlds-1st-person-to-hit-500-bn-net-worth-shows-forbes-list-9609384.html

Zepto in final stages of $450M funding at $7B valuation

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**Zepto in Final Stages of $450M Funding at $7B Valuation**

*By Mudit Dube | Oct 01, 2025, 06:07 PM*

Zepto, a leading player in the quick commerce sector, is close to securing $450 million (approximately ₹3,900 crore) in a new funding round, according to sources cited by Moneycontrol. This capital infusion is a strategic move aimed at expanding Zepto’s offerings and scaling its operations amidst intensifying competition.

**Funding Round and Key Investors**

The funding round is being co-led by the California Public Employees’ Retirement System (CalPERS), a prominent US-based pension fund, along with General Catalyst (GC), an existing investor in Zepto. Besides these two, several current investors—including Avenir, Avra, Lightspeed, Glade Brook, The Stepstone Group, and Nexus Venture Partners—are expected to participate to maintain or possibly increase their stakes in the company.

**Valuation Soars to $7 Billion**

With this fresh round, Zepto’s valuation is set to leap to $7 billion, marking a 40% increase from its $5 billion valuation last year. The company’s growth has been propelled by over a 20% rise in order volumes, reflecting strong market demand and operational expansion.

**Use of Funds: Primary Capital and Secondary Deals**

The majority of the funds raised will be primary capital, directly bolstering Zepto’s financial resources to fuel growth initiatives. Additionally, between $70 million and $100 million of the total funding will come from secondary share deals. These involve early investors selling portions of their holdings to new investors, enabling some liquidity for early backers while keeping them engaged through ongoing investments.

**Market Strategy and Competitive Outlook**

Zepto plans to leverage the new capital to boost its spending and increase its market share in the quick commerce space. This comes at a time when the sector’s rapid growth has somewhat cooled, with competitors such as Blinkit (by Eternal) and Instamart (by Swiggy) shifting their focus toward profitable growth.

By strengthening its financial backing, Zepto aims to regain momentum and secure a stronger position in this highly competitive market, responding proactively to evolving industry dynamics.

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*Stay tuned for more updates on Zepto and developments in the quick commerce industry.*
https://www.newsbytesapp.com/news/business/zepto-seeks-450-million-funding-at-7b-valuation/story

USDT issuer Tether buys 8,888 Bitcoin worth $1 billion

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Today, which is also the last day of Q3 2025, Tether added another block of Bitcoin to its reserves. According to market watchdogs, the USDT issuer has moved a cool $1 billion into 8,888.889 BTC, marking one of the largest inflows recorded in 2025 for the stablecoin issuer.

Spotted by Onchain Lens, the transfer went directly from Bitfinex hot wallets to Tether’s reserve address. This move fits into a bigger pattern observable in the on-chain history. Over the past two years, the company that issues USDT has repeatedly moved blocks of Bitcoin worth between $700 million and $1.4 billion into its reserves. This activity often occurs during periods of market tension, which could also be attributed to the current state of the crypto market.

Tether is now the sixth-largest BTC wallet. Since the company announced in May 2023 that it would regularly use 15% of its profits to purchase Bitcoin for reserves, the last time they withdrew BTC was on the last day of Q1 2025. Currently, their BTC reserve address holds 86,335 BTC worth approximately $9.75 billion, maintaining its position as the sixth-largest BTC wallet.

With Q3’s purchase, the amount of Bitcoin on Tether’s balance sheet increased by about 11%, keeping it well ahead of gold and approaching a 10% share. Calculated at the price when they withdrew from the exchange, the average purchase price of these BTC is about $48,542. This means Tether is currently sitting on an unrealized profit of as much as $5.5 billion.

Tether’s $115.2 billion market cap provides unmatched liquidity, enabling institutions to leverage USDT for yield generation and cross-chain transactions. Meanwhile, Tether’s balance sheet shows $127 billion in US Treasuries and $5.47 billion in excess reserves, reinforcing its credibility as a stable financial actor.

As of mid-2025, institutions hold 410,000 BTC through ETFs, representing 33% of US Bitcoin ETF holdings, while public companies hold 725,000 BTC. This amount surpasses the annual supply of new Bitcoin. Meanwhile, the price of BTC remains steady with a slight 0.67% decline, trading at $113,184.07.

**Stablecoins Record Over $45 Billion in Net Inflows**

Stablecoins have recorded over $45 billion in net inflows during the past 90 days. According to on-chain data, Tether’s USDT and Circle’s USDC contributed significantly to this surge. The third quarter alone saw $56.5 billion in stablecoin inflows.

The stablecoin market continues to be dominated by Tether’s USDT, which has seen a net inflow of $19.6 billion. With a market share of about 59%, Tether’s USDT remains the dominant stablecoin in the crypto space.

Tether’s success is not limited to the third quarter. USDT saw an additional $9.2 billion minted in the second quarter. With demand increasing, USDT’s position remains unchallenged by any other stablecoin in the market.

However, USDC’s net issuance surged significantly throughout the quarter. Stablecoin inflows to USDC increased to $12.3 billion, up from $500 million in Q2.

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*Get $50 free to trade crypto when you sign up to Bybit now.*
https://bitcoinethereumnews.com/bitcoin/usdt-issuer-tether-buys-8888-bitcoin-worth-1-billion/?utm_source=rss&utm_medium=rss&utm_campaign=usdt-issuer-tether-buys-8888-bitcoin-worth-1-billion

Bybit and Nexo Launch Tools to Fight $10B Scam Crisis

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With nearly $10 billion lost to scams last year, major crypto platforms are stepping up efforts to protect users. Two of the biggest names, Bybit and Nexo, have each introduced new security tools aimed at mitigating the impact of fraud that continues to plague digital assets.

### Different Tactics, Same Goal

Bybit has focused on the problem of stolen funds flowing into its platform. Rather than waiting for legal action, it has created a private reporting line exclusively for its top-tier clients. This line provides direct access to the exchange’s internal security team. Cases are reviewed around the clock, and accounts can be restricted within hours to preserve evidence before involving the police.

Nexo, on the other hand, is attempting to stop scams at the point of transaction. Its upgraded Anti-Scam Engine operates quietly in the background, analyzing behavior across multiple blockchains. If suspicious activity is detected, clients are prompted to double-check before sending funds. In rare cases, the system can temporarily halt a transfer until it is reviewed.

Currently, Bybit’s reporting portal is reserved for VIP users but may expand to retail traders if testing proves successful. Nexo’s tool is already live on networks including Ethereum, Polygon, BNB Chain, and Arbitrum, with Bitcoin, Solana, Tron, and XRP slated to follow.

### Pressure to Act

Both companies acknowledge that scams are becoming increasingly sophisticated, ranging from romance schemes to pig butchering campaigns that can drag on for months. Regulators have also increased pressure on exchanges to demonstrate their ability to prevent abuse before it results in billion-dollar losses.

David Zong of Bybit stated that the company aims to move faster than law enforcement can. Meanwhile, Elitsa Taskova of Nexo emphasized that protection should feel invisible until it’s needed. Despite differing philosophies, the message is clear: crypto platforms cannot afford to leave their users exposed.

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*The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.*

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**About the Author**
Alex is a reporter at Coindoo with over 8 years of experience in the crypto, blockchain, and fintech industries. An experienced financial journalist and cryptocurrency enthusiast, Alex provides insightful and thought-provoking articles that break down complex topics into clear, accessible content. Follow his publications to stay updated on the latest trends and developments in digital assets.
https://coindoo.com/bybit-and-nexo-launch-tools-to-fight-10b-scam-crisis/

Taiwan Stock Market Due For Support On Monday

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The Taiwan stock market has finished lower in three straight sessions, sinking more than 660 points, or 2.5 percent, during that span. The Taiwan Stock Exchange (TSE) now sits just above the 25,580-point plateau, although it may find traction on Monday.

The global forecast for Asian markets is upbeat, buoyed by an improved outlook for interest rates. European and U.S. markets were up recently, and Asian bourses are expected to open similarly.

On Friday, the TSE finished sharply lower following losses in financial shares, technology stocks, and plastics companies. The index plummeted 443.53 points, or 1.70 percent, to close at 25,580.32 after trading between 25,469.04 and 25,998.28.

Among the active stocks:

– Cathay Financial dropped 0.91 percent
– Mega Financial edged up 0.12 percent
– First Financial sank 0.84 percent
– Fubon Financial dipped 0.16 percent
– E Sun Financial shed 0.45 percent
– Taiwan Semiconductor Manufacturing Company retreated 1.52 percent
– United Microelectronics Corporation rallied 1.24 percent
– Hon Hai Precision plunged 4.57 percent
– Largan Precision declined 1.28 percent
– Catcher Technology tumbled 1.60 percent
– MediaTek tanked 2.60 percent
– Delta Electronics plummeted 4.07 percent
– Novatek Microelectronics slumped 1.36 percent
– Formosa Plastics stumbled 1.29 percent
– Nan Ya Plastics crashed 3.18 percent
– Asia Cement rose 0.13 percent
– CTBC Financial remained unchanged

The lead from Wall Street is positive as major averages opened higher on Friday and spent most of the day in the green. The Dow jumped 299.97 points, or 0.65 percent, to finish at 46,247.29, while the NASDAQ advanced 99.37 points, or 0.44 percent, to close at 22,484.07. The S&P 500 gained 38.98 points, or 0.59 percent, ending at 6,643.70.

For the week, however, the NASDAQ slid 0.7 percent, the S&P 500 fell 0.3 percent, and the Dow dipped 0.2 percent.

The strength on Wall Street reflected a positive reaction to a closely watched Commerce Department report showing consumer prices rose in line with economist estimates in August. The data helped increase confidence that the Federal Reserve will continue lowering interest rates in the coming months.

Crude oil prices advanced on Friday as Russia restricted fuel exports by introducing a partial ban on diesel exports until the end of 2025. West Texas Intermediate (WTI) crude for November delivery was up $0.59, or 0.91 percent, at $65.57 per barrel.

*The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.*
https://www.nasdaq.com/articles/taiwan-stock-market-due-support-monday