The global financial landscape presented a picture of cautious stability, with investors navigating a mix of easing geopolitical tensions and lingering uncertainties ahead of the Federal Reserve’s Jackson Hole symposium later in the week. Risk sentiment held steady, buoyed by slight improvements in US fiscal outlooks and a softening of immediate concerns over international conflicts, particularly in Ukraine.

President Donald Trump’s recent affirmations of support for Ukraine, coupled with optimistic remarks about a potential summit between Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskiy, contributed to a modest dip in Brent crude oil prices, which fell 1.2 per cent amid growing hopes for a ceasefire.

This development rippled through energy markets, underscoring how diplomatic signals can swiftly influence commodity valuations in an interconnected world. The broader narrative remained fixated on the Fed’s upcoming gathering, where Chair Jerome Powell’s speech could provide critical clues about interest rate trajectories amid a slowing but resilient US economy.

In the US equity markets, the session unfolded with a tech-led retreat that highlighted vulnerabilities in an index heavily reliant on a handful of megacap names. The S&P 500 closed down 0.59 per cent at around 6414 points, erasing some of the gains from the previous week’s rebound and snapping a brief streak of optimism.

The Nasdaq Composite bore the brunt of the selling pressure, tumbling 1.46 per cent as investors rotated out of high-growth technology stocks amid fresh doubts about the sustainability of the artificial intelligence boom. Nvidia, a bellwether for the sector, plunged 3.5 per cent, dragging down peers and exposing the market’s narrow breadth despite over 350 S&P constituents posting gains; the index’s fate hinged on a few giants.

In contrast, the Dow Jones Industrial Average eked out a marginal 0.02 per cent increase, supported by resilient performances in non-tech sectors like retail, where Home Depot’s earnings provided a lift. This divergence illustrated a market grappling with rotation themes, as value-oriented and cyclical stocks attempted to reclaim ground from the growth darlings that have dominated 2025’s narrative.

Also Read: The intersection of tech and climate change: 5 key forces that will redefine the global market

Bond markets offered a counterpoint of calm, with US Treasury yields dipping as traders sought safety. The two-year note yield declined two basis points to 3.75 per cent. In comparison, the benchmark 10-year yield fell 3 basis points to 4.30 per cent, reflecting tempered expectations for aggressive Fed tightening in light of recent data showing inflation pressures easing but not vanishing entirely.

Currency and commodity dynamics further painted a picture of measured adjustment rather than outright panic. The US Dollar Index edged up 0.1 per cent, steadying against a basket of peers as investors weighed the implications of a potentially hawkish Fed stance against global growth concerns.

Gold, often a haven in turbulent times, slipped 0.4 per cent, suggesting that immediate fears of escalation were subdued. Brent crude’s decline, driven by those ceasefire prospects, marked a shift from the volatility seen earlier in the year when energy prices spiked on supply disruption fears.

Trump’s reiteration of US backing for Ukraine, while expressing hope for dialogue, added a layer of geopolitical nuance that markets interpreted as de-escalatory, at least for now. These movements came against a backdrop of broader economic indicators, including a mixed bag from China’s data; retail sales slowed to 3.7 per cent in July, while property investment sank 12 per cent. Exports held firm despite US tariff pressures.

Across the Pacific, Asian equities mirrored the global caution, mainly closing lower in a session characterised by narrow ranges and selective buying. Taiwan’s Taiex fell 0.53 per cent, and South Korea’s Kospi dropped 0.81 per cent, reflecting tech sector weakness that echoed the Nasdaq’s woes, given the region’s heavy exposure to semiconductor supply chains. However, India bucked the trend, with the Sensex rising 0.46 per cent on continued momentum from weekend announcements of indirect tax cuts aimed at boosting consumer spending.

These measures, including income tax rebates totalling 1 trillion rupees, have invigorated urban households and supported sectors like retail lending and consumer discretionary goods. Early trading in Asia pointed to further softness, with US equity futures implying a lower open stateside, perpetuating the risk-off tone.

This regional performance aligns with a year where Asian markets have shown resilience amid trade tensions, with valuations remaining attractive compared to developed peers. Asia ex-Japan trades at a discount, offering entry points for long-term investors amid stable inflation and proactive fiscal policies.

Also Read: Global markets freeze as Trump-Putin summit fails: What’s next?

The cryptocurrency space, however, stole headlines with Bitcoin’s sharp descent below US$113,000, the first such breach in over two weeks, triggering US$113 million in leveraged long position liquidations and sparking debates about the end of the bull run. From its all-time high of US$124,176 just days prior, BTC’s nine per cent plunge reflected a confluence of factors: profit-taking after a euphoric surge, mounting macroeconomic uncertainties, and a broader risk-off sentiment amplified by Trump’s trade policies and Fed ambiguity.

On-chain data revealed short-term holders selling at losses for the first time since January, with net exchange outflows of 3.4K BTC daily signaling potential capitulation. Analysts like those at The Block noted repositioning ahead of Powell’s Jackson Hole address, while Forbes warned of deeper corrections if support at US$110,530 fails.

Social media buzzed with mixed reactions—some X users viewed it as a healthy reset, others feared a 70 per cent drop to US$23K-US$43K based on bearish RSI divergences. Whales appeared to buy the dip, and ETF inflows of US$17 billion in BTC and ETH over the past 60 days suggested institutional interest persists, potentially cushioning further downside.

Compounding Bitcoin’s woes was news of a US Securities and Exchange Commission probe into Alt5 Sigma, a firm entangled in a US$1.5 billion partnership with Trump-backed World Liberty Financial. The investigation centers on allegations of fraud, stock manipulation, and earnings inflation involving Alt5’s president, Jon Isaac, who claims that surfaced amid insider share sales during price surges.

World Liberty, positioning itself as a DeFi and stablecoin platform with Trump as “co-founder emeritus,” raised US$550 million via token sales, and the former president disclosed US$57.4 million in earnings from his stake. Eric Trump is set to join Alt5’s board, deepening the family’s ties. Alt5 clarified that Isaac is not its president and denied knowledge of any SEC inquiry, but the reports triggered a sharp drop in its stock. This scandal rippled through crypto sentiment, exacerbating the Nasdaq’s 1.5 per cent fall and linking political intrigue to market volatility.

Adding fuel to the tech correction was a sobering MIT NANDA report, revealing that 95 per cent of companies fail to achieve rapid revenue growth from AI pilots, based on 150 corporate interviews and 300 deployments. The study highlighted a “GenAI Divide,” with most efforts stalling due to integration challenges, hesitancy in solo implementations, and over half of 2025 AI budgets funneled into sales and marketing without proportional returns. This revelation triggered sell-offs in AI-linked stocks, amplifying doubts about the hype cycle and contributing to the Nasdaq’s woes.

Also Read: Powell’s speech could trigger a market meltdown or a crypto boom

From my vantage, who has chronicled market cycles for years, this day’s events underscore a pivotal inflection point. The Bitcoin plunge and SEC scrutiny on Trump-linked crypto ventures highlight the perils of intertwining politics with speculative assets. World Liberty’s rapid fundraising and high-profile ties risk amplifying regulatory backlash, potentially eroding trust in an industry still recovering from past scandals. While Trump’s involvement has injected visibility, it also invites scrutiny that could deter mainstream adoption.

On AI, the MIT findings validate growing skepticism about an overhyped revolution; with 95 per cent failure rates, we’re witnessing echoes of past tech bubbles, where promise outpaces delivery. I remain cautiously optimistic: markets have absorbed tariff shocks before, and Asia’s undervalued equities, bolstered by domestic stimulus like India’s tax cuts, offer diversification amid US concentration risks.

The Jackson Hole meeting could catalyse a rebound if Powell signals dovish intent, but investors must brace for volatility. Focusing on fundamentals over frenzy will separate winners from the washout. In a world where geopolitical whispers move billions, resilience lies in balanced portfolios that weather these storms, not chase fleeting highs.

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On 14 October 2025, the Flux Series returns to Singapore for its third edition – and this time, the spotlight is squarely on Singapore’s SMEs. Organised by e27, this one-day, high-impact event is designed to answer the question that’s been on every business owner’s mind: “What do I actually do with AI?”

If you’ve been stuck at the “I’ve heard about AI, but I’m not sure how it fits into my business” stage, Flux is where you finally get practical, actionable answers.

Why SMEs need Flux now

In Singapore, SMEs make up 99% of all businesses and employ 70% of the workforce. Yet many are struggling to harness AI in ways that directly impact their bottom line.

The truth? Most SMEs don’t have the time, budget, or technical team to figure out AI on their own. They don’t need jargon-filled conferences or long-term consulting projects — they need ready-to-use solutions that either help them make more money or save costs immediately.

That’s exactly what Flux delivers.

From theory to action — in one day

Instead of overwhelming you with keynote after keynote, Flux is built for doing. Across 10 guided roundtables, interactive workshops, and live tool tryouts, you’ll get hands-on with AI solutions you can apply in your business the very next day.

Expect to leave with:

• Deployed AI workflows you’ve tested yourself
• Clear action plans for integrating AI into your daily operations
• Connections to vetted AI builders who understand SME needs

Join action-oriented workshops

Rather than theoretical discussions, workshops are demo-first and execution-focused. You’ll try the tools yourself and leave with your first AI-driven process live.

Experience networking that works

Meet other SME owners, tool builders, and ecosystem leaders who share your growth mindset — and might just become your next collaborator or customer.

Also read: Singapore’s SME fintechs face growth hurdles amid restricted API access

Who should attend?

Flux is designed for SME leaders and decision-makers who:

• Run teams of 5–200 people
• Want AI to increase revenue or reduce costs
• Have little to no in-house tech expertise
• Are ready to move from “learning about AI” to using AI

If you’re a founder, managing director, or sales or operations lead looking for practical, no-fluff AI adoption, Flux is your shortcut.

Why Flux works for SMEs

Unlike large-scale tech conferences, Flux is intentionally small: just 150 seats. This ensures every participant gets:

• Direct access to facilitator
• Personalised answers to their business challenges
• A chance to try tools on their own devices

It’s not about watching someone else use AI. It’s about leaving the room with AI already working for you.

What you need to know about Flux

• Date: 14 October 2025
• Venue: Suntec CEC Singapore, Level 3
• Tickets: SGD 499 (150 seats only)
• Format: Each attendee can attend 2 roundtables (there are 10 topics to choose from) + workshops + networking
• Capacity: 150 attendees, 10 facilitators

Also read: From risk to readiness: Cybersecurity and data protection compliance for Singapore SMEs

A glimpse at what’s possible

At the last Flux Series, one retail SME automated their customer follow-up process in a single afternoon. The result? A 40% increase in repeat purchases — without adding a single headcount.

Another SME in professional services learned to turn internal chat threads into formal client-ready reports in minutes, saving their team 10 hours per week.

This year’s focus on Singapore SMEs means the examples, tools, and case studies will be hyper-relevant to local business realities — whether you’re in retail, F&B, logistics, consulting, or niche services.

Your next step

If you’ve been putting off AI adoption because it feels too complex or too abstract, Flux is your opportunity to change that — in one day.

You’ll walk in with questions.

You’ll walk out with working AI solutions.

But seats are limited, and once they’re gone, they’re gone.

Reserve your seat now at flux.e27.co and join 150 SME leaders ready to make AI work for their business.

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As Asia Pacific cements its position as a global quantum computing hub, cybersecurity giant Kaspersky has issued a stark warning: the region’s rapid technological advancement could be a double-edged sword. While quantum computing promises breakthroughs across industries, its potential to upend current encryption standards poses a critical risk to digital security.

As nations such as China, Japan, India, Australia, South Korea, Singapore, and Taiwan double down on quantum investments, Kaspersky is urging governments, businesses, and researchers to proactively develop quantum-safe defenses.

The quantum computing market in Asia Pacific is projected to grow from US$392.1 million in 2024 to US$1.78 billion by 2032, at a CAGR of 24.2 per cent. While this growth fuels innovation especially in finance, pharmaceuticals, and startups, it also accelerates cybersecurity challenges.

Kaspersky’s Sergey Lozhkin, Head of Global Research & Analysis for META and APAC, warns that the emerging tech could “unlock ground-breaking innovations, but also usher the region to a new era of cybersecurity threats”.

At the core of these concerns is quantum computing’s ability to render current encryption obsolete. Today’s data security largely depends on encryption techniques that quantum computers could eventually crack—potentially exposing everything from financial data to state secrets.

Also Read: How quantum computing moved from components to applications in 2024

Kaspersky outlines three urgent quantum-related risks:

Store now, decrypt later
Threat actors are already collecting encrypted data with the aim of decrypting it once quantum capabilities catch up. Sensitive data shared today such as diplomatic exchanges or financial records could be exposed years later.

Vulnerability of blockchain and crypto
Quantum computers could break blockchain systems reliant on Elliptic Curve Cryptography. This opens the door to forged digital signatures, compromised wallets, and manipulated transaction histories across Bitcoin, Ethereum, and other platforms.

Quantum-resistant ransomware
Malicious actors may begin developing ransomware that uses post-quantum cryptography to resist both classical and future decryption efforts—potentially locking victims out of data permanently.

While practical quantum attacks are not yet a reality, Kaspersky stresses that the window for preparation is closing. Transitioning to post-quantum cryptography could take years, and failing to act now risks locking in vulnerabilities that cannot be fixed later.

“The most critical risk lies not really in the future, but in the present,” Lozhkin emphasises. “Encrypted data with long-term value is already at risk from future decryption. The security decisions we make today will define the resilience of our digital infrastructure for decades.”

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Image Credit: Dynamic Wang on Unsplash

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The Philippines is entering a defining moment in its startup journey. Despite global headwinds and a cautious regional investment climate, 2025 has already witnessed a series of major funding announcements and institutional commitments that could shape the country’s entrepreneurial landscape for years.

From venture capital funds closing new rounds to homegrown startups attracting international backers, the momentum suggests a market maturing and diversifying.

One of the most significant developments came with Foxmont Capital Partners’ first close of its third fund at US$30 million. This milestone more than doubles the firm’s assets under management, surpassing the combined size of its first two funds. Adding the Dutch Good Growth Fund as anchor investor, alongside Grab Holdings, signals growing confidence in the Philippine innovation ecosystem from both development finance and corporate players.

For a local firm to secure such institutional support strongly indicates that international stakeholders see the Philippines as a market capable of producing globally competitive ventures. The fund is expected to back a new wave of early-growth companies across sectors, from fintech to consumer technology.

Startups diversifying across industries

While fintech continues to lead the charge, investment activity spreads across verticals. Salmon Group, a consumer fintech player, secured US$88 million in debt and equity, most notably through a Nordic bond issuance, the first of its kind in Southeast Asia’s tech sector. The scale of the round highlights growing appetite for innovative financing structures and positions the Philippines at the forefront of regional fintech development.

Also Read: Flux Series returns: The AI event built for SMEs to make or save money

Meanwhile, Singapore-based LenderLink, operating in Manila, raised US$1.25 million to build a real-time credit bureau for Philippine lenders. Helping financial institutions reduce non-performing loans aims to improve the country’s credit infrastructure, a critical step towards financial inclusion.

Higala, another fintech innovator, extended its seed round to US$2.8 million. Its mission of enabling rural banks to participate in real-time payments addresses the persistent gap in inclusive finance.

Collectively, these ventures show how the Philippines is tackling structural challenges in its financial system through technology.

Beyond fintech: supply chains, HRtech, and education

Investment activity in 2025 is not confined to financial services. Shoppable Business, a Filipino AI-powered supply chain platform, secured US$1.16 million to scale its AI-driven middleware and expand services to MSMEs.

Similarly, Betterteem Technologies attracted backing from Malaysia’s 1337 Ventures to advance its predictive HRtech platform, underscoring investor confidence in solutions that address workplace productivity and mental health.

Edutech is also on the rise. EDGE Tutor International closed a US$1 million pre-Series A round to expand its tutoring outsourcing services to North America, Latin America, Europe, and the Middle East. Its trajectory reflects the Philippines’s growing role as an exporter of digital services.

Also Read: Foxconn makes its first big leap into robotics with US$30M bet on Robocore

Infrastructure and deeptech entering the spotlight

Notably, 2025 has also seen large-scale capital commitments to infrastructure and deeptech. Parkwise Inc. secured up to US$250 million from PATRIZIA and Mitsui through the APAC Sustainable Infrastructure Fund. The investment will fund modern parking facilities in major urban centres, addressing the chronic shortage in Manila and other cities. Beyond easing congestion, it demonstrates how global capital is directed to essential urban solutions in the Philippines.

In parallel, deeptech company Nibertex, with roots in Singapore and the Philippines, raised a pre-Series A round involving Foxmont Capital Partners and ADB Ventures. Its nanofibre technology has wide applications, from healthcare to automotive, and its scaling efforts reinforce the idea that Philippine-linked startups can compete in advanced technology fields.

Corporate and philanthropic support

The year has also highlighted the importance of corporate and philanthropic engagement. HSBC Philippines awarded agritech firm Mayani and the Bayan Family of Foundations a grant to build climate-resilient cooperatives. The initiative connects sustainability with rural economic empowerment by equipping smallholder farmers and fisherfolk with technical assistance and capital expenditure support.

Meanwhile, Mosaic Solutions’ acquisition of HelixPay and partnership with PayMongo position it to create the Philippines’ first unified commerce platform. This consolidation reflects a market where scale and integration are becoming increasingly important.

Despite the cautious regional outlook, Manila-based early-stage VC Kaya Founders has announced a series of new and follow-on investments at the start of 2025. Its bets on companies like LenderLink, insurtech firm ProTech, and F&B startup Foodoo demonstrate sustained belief in the domestic market. Kaya Founders is providing continuity for startups navigating from seed to growth stages by deploying capital through Zero to One and One to Ten funds.

Also Read: Foxconn makes its first big leap into robotics with US$30M bet on Robocore

These developments suggest that the Philippines is moving past the stage of isolated success stories. Instead, it builds a layered ecosystem where venture funds, international capital, corporate participation, and philanthropic contributions coexist to support innovation.

The scale of investments—from million-dollar seed rounds to a quarter-billion-dollar infrastructure commitment—shows an economy where startups are no longer peripheral but central to development discussions. Sectors such as fintech and supply chain digitisation remain at the forefront, but the emergence of deeptech, agritech, and HRtech points to a diversification that could sustain long-term resilience.

While challenges remain, particularly in scaling startups regionally and globally, 2025 is a landmark year. The message is clear for founders and investors alike: the Philippines is no longer just an emerging market for startups—it is an emerging hub.

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Held in partnership with brainsparks, Echelon Philippines will be back at Hall 4, SMX Convention Center Manila, on September 2-3. Get your tickets now to meet the best of the Southeast Asian tech startup ecosystem.

Image Credit: Myk Miravalles on Unsplash

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“If you cannot clearly communicate your value, you are leaving job offers, promotions, and career opportunities on the table.” — Jeremy Ho.

We all hit a wall at some point. For mid to senior-level corporate professionals, that wall often looks like stagnation. The promotions dry up, job applications disappear into a black hole, and no one seems to see your potential anymore. But the truth is, you’re not broken; the system is.

I’ve had the honour of witnessing this breakthrough up close through Speakers Society Accelerator, where I met Jeremy Ho, a founding member and student of our Cast 1 (cohort). Ho’s story isn’t just about transitioning from corporate learning and development to becoming a career strategist and speaker — it’s about how he rewrote his narrative and is now helping others do the same.

The power of influence, the integrity of voice

Ho’s compass was set early. Raised by parents who instilled in him the values of integrity and respect, he learned to navigate life with clarity and intention. These weren’t just values, they became his way of leading. From his father, a guiding question:

“Would you be proud if this decision appeared in the newspaper tomorrow?” From his mother, a fundamental truth: “Every person deserves respect.“

These seeds of character would later become the roots of his signature coaching style: grounded, intentional, and human.

His career wasn’t broken. It just outgrew the system.

Before stepping into the spotlight, Ho built what many would call a dream resume: agency recruiter at Robert Walters, L&D leader at KPMG, trainer at LinkedIn, and leadership consultant with Korn Ferry. But despite these accolades, something was missing.

Like many professionals he now works with, Ho experienced the creeping sense of invisibility: sending out resumes, chasing roles, and getting radio silence in return. “Every rejection felt like a personal failure,” he recalls. That frustration became fuel. He realised the system was flawed, and rather than playing by its old rules, he began exploring new approaches.

Also Read: Rewriting the narrative about motherhood and career: Insights from a female tech leader

Reframing the fear: From stuck to strategic

Here’s the hard truth: brilliant, experienced professionals are getting passed over—not because they aren’t good enough, but because they can’t clearly communicate their value. Many high performers hit a wall where they’re told they’re “too old,” “too niche,” or “not visible enough.” Some are even made to doubt their worth by toxic workplaces.

One of the most powerful things Ho does with his clients is help them reframe the fears that keep them stuck. Because here’s the truth: Most mid to senior professionals aren’t held back by a lack of experience, they’re held back by outdated beliefs about their worth, their chances, and the job market.

Below is a simple but powerful shift, a table Ho often shares with clients to begin that mindset reset:

These aren’t pep talks; they’re reframes backed by action. For every fear, he encourages building scripts, systems, and strategies that turn ambiguity into alignment.

Three shifts that break career stagnation

Spending time with Ho’s work gave me a front-row seat to how professionals can reclaim their voice and rewrite their careers. Three key shifts stood out:

Trace your red thread: Reflect on the moments in your past roles when you felt most alive—the times you were in flow, creating real impact. These threads of purpose often point toward your next move, beyond titles or industries.

Reframe your value: It’s not enough to be great at your job; you have to communicate outcomes clearly. It’s the difference between saying, “I managed a team of 12” and, “I built a high-performing team that exceeded revenue goals by 25%.”

Stop chasing jobs, start creating conversations: Instead of endlessly sending applications, focus on targeted outreach, relationship building, and positioning yourself where you want to play. Or as Ho puts it, “You don’t need more applications. You need more alignment.”

Through his journey, Ho clarified not just his message but his mission. One of his key insights was about ownership: “A social media audience is like a house of cards. The platform doesn’t belong to you.” That realisation led him to build communities and conversations in spaces he could truly shape.

Also Read: Redefining success: What it takes to build a fulfilling career

Why speaking is a strategy, not just stage time

Ho’s belief aligns closely with mine: Your voice is your most powerful asset.

In a world flooded with credentials, those who communicate clearly are the ones who lead. Whether you’re in a boardroom or a job interview, how you speak is often more important than what you say.

“Great communicators aren’t always the most technically skilled,” Ho says. “They’re the ones who can articulate impact, inspire trust, and influence decisions in the room.”

Owning his voice, changing others’ lives

Today, Ho helps others uncover the red thread in their story—the moments of flow and alignment that often point to a true calling. His work is about more than securing job offers. It’s about helping professionals see new possibilities and step into careers that honour both their skills and their aspirations.

In a world that often tells mid-career professionals to “settle,” there are strategies to help them soar—with clarity, structure, and a voice that finally gets heard.

As Ho puts it:

“Navigating your career is a skill that was never taught in school but it’s one you can learn. My role is to bring out the greatness in you. My dream is to see you in a career that honours your gifts, one that fills your heart as much as your bank account.“

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

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The muted risk sentiment stems mainly from the fading prospects of a swift resolution to the Russia-Ukraine conflict, a situation exacerbated by President Donald Trump’s recent comments during a press briefing following his summit with Russian President Vladimir Putin.

Trump explicitly stated that a ceasefire remains out of reach for now, emphasising the complexities involved in negotiations. This remark came on the heels of their meeting in Anchorage, Alaska, last Friday, where discussions centred on the ongoing war but yielded no concrete agreements, leaving markets on edge as they anticipate potential ripple effects on energy prices and supply chains.

The summit itself unfolded at Joint Base Elmendorf-Richardson, with both leaders exchanging cordial greetings yet parting without breakthroughs on key issues like territorial concessions or security guarantees for Ukraine. Putin described the talks as productive, highlighting areas of mutual interest, while Trump later conveyed to Ukrainian President Volodymyr Zelenskyy that Putin seeks further gains, urging Kyiv to consider a deal.

Zelenskyy’s subsequent trip to Washington for direct talks with Trump underscores the urgency, but the absence of immediate progress has dampened hopes that had built up in recent weeks. This impasse reflects a broader pattern in international relations under Trump’s second term: a pragmatic, deal-oriented approach that prioritizes American interests but often prolongs uncertainty.

Investors respond to such developments with hesitation, as prolonged instability in Eastern Europe threatens to disrupt global trade routes and inflate commodity costs, particularly for energy-dependent economies. I believe this situation demands vigilance, as any escalation could trigger sharper market corrections than the sideways trading we witnessed yesterday.

Turning to the financial markets, US equities exhibited a lack of direction on Monday, with the S&P 500 edging down by a mere 0.01 per cent, the NASDAQ Composite inching up 0.03 per cent, and the Dow Jones Industrial Average slipping 0.08 per cent. Traders adopted a wait-and-see posture ahead of upcoming retail earnings from major players like Walmart and Home Depot, alongside Federal Reserve Chair Jerome Powell’s highly anticipated address at the Jackson Hole Economic Symposium later this week.

Powell’s remarks could provide clarity on interest rate trajectories, especially as inflation data continues to moderate. Treasury yields experienced modest increases in a subdued session, with the two-year note rising one basis point to 3.76 per cent and the ten-year benchmark climbing similarly to 4.339 per cent. These movements align with broader expectations of a steady Fed policy, though they also signal underlying concerns about fiscal deficits and potential policy shifts under the current administration.

Also Read: Can Indonesia build its own tech ecosystem, or will it remain a playground for global giants?

The US dollar index strengthened by 0.3 per cent, benefiting from the uptick in yields and its safe-haven appeal amid geopolitical jitters. Gold prices held relatively firm, dipping just 0.1 per cent to settle at US$3,333 per ounce, as buyers balanced inflation hedging against the dollar’s gains.

Brent crude oil, however, advanced 1.1 per cent to US$66 per barrel, a rebound attributed directly to the unresolved tensions from the Alaska summit. The lack of progress on Ukraine has reignited fears of supply disruptions from Russian exports, even as OPEC maintains production discipline.

In Asia, contrasts emerged vividly: Chinese stocks surged, propelling the Shanghai Composite Index up 0.8 per cent to its highest close since August 2015, fueled by retail investors pivoting from bonds to equities amid improving domestic sentiment and policy support from Beijing. Early trading today showed mixed openings across Asian indices, mirroring the uncertainty, while US equity futures pointed to a similarly ambivalent start.

In my view, these dynamics illustrate a bifurcated global economy, where US caution stems from policy anticipation and external risks. At the same time, China’s gains highlight internal momentum that could buffer against broader slowdowns. I see potential for Asian markets to outperform if geopolitical pressures ease, but sustained dollar strength might cap gains in emerging economies.

Amid this backdrop, the cryptocurrency sector stands out as a beacon of optimism, with institutional adoption accelerating at a pace that defies the broader market’s tentativeness. Japanese investment firm Metaplanet made headlines by acquiring an additional 775 Bitcoin for US$93 million, elevating its total holdings to 18,888 Bitcoin valued at approximately US$2.17 billion.

This move cements Metaplanet’s status as the seventh-largest corporate Bitcoin holder worldwide and exemplifies its disciplined accumulation strategy initiated in 2024. Despite Bitcoin’s recent price dip below US$115,500, Metaplanet’s stock rose 4 per cent, reflecting investor confidence in its low-leverage approach, which boasts a 12 per cent unrealised gain and debt over-collateralised by a factor of 18.67.

Other corporations follow suit, such as Strategy, adding 430 Bitcoin worth US$51.4 million, treating the asset as a hedge against inflation and currency debasement. These actions signal a maturation in corporate treasury management, where Bitcoin transitions from a speculative bet to a core balance-sheet component. I argue that this trend bolsters financial stability for these firms, as diversified holdings mitigate risks from traditional assets vulnerable to interest rate fluctuations.

Also Read: Storytelling in diverse markets: How you can effectively market as you expand

The influx of capital into digital asset investment vehicles further underscores this shift, with last week’s inflows reaching US$3.75 billion, the fourth-highest on record and a sharp recovery from prior weeks’ lull. Assets under management hit an all-time high of US$244 billion on August 13, driven predominantly by products from iShares and similar issuers. Ethereum captured the spotlight, drawing a record US$2.87 billion in inflows, comprising 77 per cent of the total and pushing its year-to-date figure to US$11 billion.

This dominance relative to assets under management, 29 per cent for Ethereum versus 11.6 per cent for Bitcoin, highlights shifting investor preferences toward Ethereum’s utility in decentralised finance and smart contracts. Bitcoin inflows, at US$552 million, paled in comparison, though short-Bitcoin products saw minor gains of US$4 million.

Other altcoins benefited too: Solana attracted US$176.5 million, XRP US$125.9 million, Sui US$11.3 million, Chainlink US$1.2 million, and Cardano US$0.8 million, while multi-asset funds added US$0.4 million. Litecoin and Ton faced outflows of US$0.4 million and US$1 million, respectively. Geographically, the US dominated with 99 per cent of inflows at US$3.73 billion, followed by Canada (US$33.7 million), Hong Kong (US$20.9 million), Australia (US$12.1 million), and Switzerland (US$4.2 million); Sweden and Brazil saw outflows of US$49.9 million and US$10.6 million.

This surge aligns with broader institutional momentum, as evidenced by recent ETF flows where Ethereum products outpaced Bitcoin on certain days, with BlackRock and Fidelity leading the charge. Public companies now hold over US$160 billion in crypto, doubling since April, with Bitcoin at US$147 billion, Ethereum at US$10 billion, and Solana at US$1 billion.

Firms like BitMine Immersion Technologies aim to raise billions more for Ethereum acquisitions, targeting significant portions of its supply. In my opinion, this institutional embrace validates cryptocurrencies as legitimate assets, fostering price stability through reduced volatility over time. However, the subsequent week’s market slide reminds us of inherent risks, where sharp corrections can erase gains swiftly.

A pivotal development amplifying this trend is President Trump’s impending executive order, set for signing this Thursday, which aims to integrate alternative assets like Bitcoin ETFs and private equity into 401(k) retirement accounts. The order directs Labor Secretary Lori Chavez-DeRemer to reassess guidance under the Employee Retirement Income Security Act of 1974 (ERISA), collaborating with the Treasury and Securities and Exchange Commission to facilitate access.

This reverses Biden-era restrictions and reinstates evaluations from Trump’s first term, potentially unlocking trillions in retirement savings for crypto and other alternatives. The crypto industry, a major donor to Trump’s reelection, stands to gain immensely, especially following his earlier orders establishing a Bitcoin reserve and easing enforcement.

Also Read: What’s shaping the markets right now: AI hype, Bitcoin’s calm, and the Fed’s next move

I view this as a transformative step toward democratising wealth-building, allowing everyday Americans to participate in high-growth assets previously reserved for the elite. I caution that the volatility of cryptocurrencies poses risks to retirement security; regulators must implement safeguards like allocation caps to prevent overexposure.

All in all, these events paint a picture of a world where traditional and digital finance converge amid geopolitical headwinds. Geopolitical stalemates, such as the Russia-Ukraine conflict, inject uncertainty, tempering equity gains and boosting safe havens. However, the crypto sector’s resilience, bolstered by corporate buys, record inflows, and policy support, offers a counter-narrative of innovation and opportunity.

In my assessment, investors should diversify thoughtfully, embracing crypto’s potential while hedging against global risks. This moment could herald a new era of inclusive finance, but only if balanced with prudence to weather inevitable storms. As markets evolve, the interplay between politics and economics will define the path forward, and I remain cautiously optimistic that strategic adaptations will yield long-term prosperity.

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Indonesia’s digital economy continues to post impressive growth, but beneath the headline numbers lies a stark reminder: progress is not evenly shared.

The latest East Ventures–Digital Competitiveness Index 2025 reveals widening disparities in infrastructure, skills, and access to opportunities. While urban centres like Jakarta push ahead, rural and underdeveloped regions remain constrained by patchy connectivity, low digital literacy, and limited financing options for small businesses.

Beyond connectivity, the challenge is about usage and trust. Many Indonesians can use digital tools, but struggle to translate them into productive activities. MSMEs, the backbone of the economy, face hurdles in adopting advanced technologies like AI due to high costs and complexity, while regulatory frameworks often lag innovation, exposing data security.

Adding to these woes, the archipelago faces fierce competition from neighbours and other countries worldwide.  

The East Ventures report underscores that digital transformation cannot be left to market forces alone. True inclusion requires collaborative intervention, from government-led infrastructure expansion to private sector investment, academic partnerships, and community-driven literacy programmes. Only then can Indonesia’s digital economy evolve from a growth story to a story of equitable, sustainable progress.

REGIONAL

Indonesia’s Danantara records US$11.6B in H1 investments
Danantara is expected to increase investment activity in H2 2025 after directions from President Prabowo Subianto | The fund is completing a consolidation process and intends to focus on priority projects with both domestic and international partners.

Mongolia’s AND Global secures US$21.4M Series B to drive fintech expansion in SEA
Investors include IFC, AEON Financial Service, Marubeni, SBI Holdings, and Premium Group | The capital will enable the expansion of AND’s AI-driven solutions throughout SEA and launch new tools specifically designed for financial institutions catering to MSMEs.

Maybank raises Sea’s revenue and adjusted EBITDA estimates
Sea’s strong tech-driven execution, underpenetrated markets and supportive competitive landscape position it for sustained high growth, while its disciplined, cost efficient approach allows both expansion and profitability gains.

Waterhub lands seed funding to scale clean drinking water Solutions across Indonesia
Investors include Archipelago VC and The Radical Fund | Waterhub deploys a network of water dispensers and large-volume water filtration systems | These units can transform various sources, including municipal water, rainwater, groundwater, and even seawater, into safe drinking water.

Digital remittance apps take the lead across Asia Pacific, says Visa
In Singapore, for instance, over half of users cited ease of use as the top reason for choosing digital over physical methods | Digital apps were also perceived as the fastest way to receive funds by 73 per cent of respondents in the Philippines and 67 per cent in Singapore.

Antler backs US$1.6M seed of Australian healthtech startup OneMRI
Other investors in the round include OIF Ventures, TEN13, and Salus Ventures | OneMRI offers whole-body MRI scans by partnering with underutilised radiology clinics, healthcare professionals, and wellness brands.

Thailand to trial crypto payments for tourists; spending cap US$17K
Tourists will use Thai-based crypto exchanges, moving funds into online wallets to pay local businesses | Thailand is rolling out the initiative as foreign tourist arrivals have dropped, with the state planning agency cutting its 2025 forecast by 10 per cent to 33M visitors.

Malaysian crypto data firm Coingecko names new CEO
CoinGecko is a leading independent cryptocurrency data aggregator serving users worldwide | New CEO Bobby Ong previously served as COO for 11 years, helping scale CoinGecko’s operations and global reach.

True Global Ventures gets MAS license to expand fund management
With this new license, True Global Ventures 4 Plus is now permitted to potentially broaden its fund management activities to include areas such as continuation funds, fund of funds, public company investments, and crypto funds.

REPORTS, FEATURES & INTERVIEWS

EV-DCI 2025: Indonesia’s digital economy gains momentum but faces fierce regional and global competition
Indonesia’s digital economy accelerates with rising GDP share and AI potential, yet trails regional leaders, demanding faster transformation and competitiveness gains.

EV-DCI 2025 flags critical weaknesses in Indonesia’s digital inclusivity
Significant disparities exist in internet access and quality, particularly in underdeveloped and rural areas, which continue to hinder technology adoption | This unequal distribution directly impacts access to online learning, digital public services, and participation in the digital economy.

ECHELON

How corporates and startups are collaborating for the next wave of innovation
The discussion underscored how corporates, when aligned with entrepreneurial needs, can become key partners in innovation and long-term growth.

INTERNATIONAL

Trump admin in talks to take 10% stake in Intel
A 10% stake would be worth about US$10.5B at Intel’s current market value, potentially making the US government Intel’s largest shareholder | Intel is set to receive up to US$10.9B in Chips Act grants for commercial and military chip production.

SoftBank to invest US$2B in Intel
Intel, a major US chipmaker, has struggled to leverage the AI boom and grow its chip manufacturing business | Its foundry unit has yet to secure a major customer, and the company said it will wait for new orders before further investment.

OpenAI launches ChatGPT Go in India at US$4.7
ChatGPT Go offers higher usage limits and additional features compared to the free version, including increased message caps, more image generations, larger file uploads, and extended memory | OpenAI chose India as the initial market to make ChatGPT subscriptions more accessible.

Duolingo CEO says no layoffs planned as AI use grows
The US-based language learning platform has faced criticism online since CEO Luis von Ahn shared in April that the company aimed to become “AI-first.”| He clarified in a recent interview that while AI will change some job functions, it will not lead to layoffs among full-time staff.

SEMICONDUCTOR

Nvidia’s H20 chips caught in US-China power struggle
On July 31, the Cyberspace Administration of China questioned the security of the H20 after US lawmakers demanded tracking features in exported chips | The US barred sales of H20 chips to China in April, citing national security concerns.

Senators urge Trump to block Nvidia, AMD China deal
Six Senate Democrats wants Trump to reconsider a deal allowing Nvidia and AMD to sell advanced AI chips to China in exchange for a 15% government revenue share | They warned the agreement could undermine US national security and strengthen China’s military technology.

China’s Nvidia rival Cambricon to raise US$560M for AI chips
The funds are earmarked for hardware and software projects, including chips for large AI models| The fundraising comes as China pushes data centres to use more locally made chips, with public computing hubs required to source over half their chips from domestic producers.

Taiwan lifts 2025 chip growth forecast on AI strong demand
The sector’s output is now expected to reach US$216.7B, up from the previous projection of 19.1% growth | IC manufacturing will drive the gains, with output set to hit US$145.2B in 2025, up 27.5% year-on-year.

AI

Sam Altman warns AI market may be a bubble
He said investors may be “overexcited” about the technology | Other leaders, including Alibaba co-founder Joe Tsai, Bridgewater’s Ray Dalio, and Apollo’s Torsten Slok, have also warned about possible overvaluation.

Ex-Twitter CEO launches AI startup, claims edge over GPT-5
Parag Agrawal’s Parallel Web Systems provides a cloud-based research API that lets AI applications perform real-time research on public web data with detailed citations | Parallel emerged from stealth on August 13, and reported millions of queries from early adopters.

AI and ethics in digital marketing: Building trust in the tech era
Transparency in the use of AI is crucial in building and maintaining trust | Transparency involves explaining what AI is being used for, how it works in simple terms, and what implications it might have for the individuals whose data is being processed.

Thai semiconductor sector urges national export plan
Industry leaders noted that Thailand lacks a comprehensive semiconductor plan, while countries like Malaysia already have one | They said uncertainty from shifting global production and US transshipment issues is affecting export prospects.

THOUGHT LEADERSHIP

Powell’s speech could trigger a market meltdown or a crypto boom
Global PMI data, inflation reports, Fed minutes, and Jackson Hole speeches this week will test markets under new US tariffs.

Healthtech in South and Southeast Asia – Seeing beyond the “obvious”
The strongest healthtech innovations in Asia often come from founders who have lived the problem, understand its nuances, and can navigate local systems to get solutions into the hands of those who need them most.

Designing for survival in impact first immersive tech for Southeast Asia
The true promise of immersive technology lies not in its novelty but in its ability to redistribute access | It can elevate the visionary majority, students who learn differently, think boldly, and have been overlooked for too long.

Who owns the Cat? How a Singapore-Sarawak AI vibe design hackathon is reimagining IP
Kuching, Sarawak, will host the inaugural AI Vibe Design Hackathon | This collaboration between Singapore and Sarawak that doesn’t just celebrate emerging technology, but redefines how we create, feel, and protect what we make in an AI-powered world.

Can Indonesia build its own tech ecosystem, or will it remain a playground for global giants?
Foreign platforms like Google, Meta, and Apple dominate the foundational layers of the local internet | Meanwhile, local startups often rely on international VCs, operate on foreign cloud infra, and are subject to platform tax models set by global app stores.

Homegrown solutions for a hungry future: Why Southeast Asia must localise agritech by 2050
Southeast Asia leads global rice production, followed by Africa, the Americas, Europe, and Australia | Countries like Vietnam, Thailand, and Cambodia are key exporters, making regional production stability critical for domestic and international supply chains.

Why financial inclusion requires more than access
True inclusion isn’t just about giving more people access to loans; it’s about ensuring those loans are safe, transparent, and free from predatory practices | Tech solutions in SEA, whether for agriculture, health, education, or finance, must be designed with the most vulnerable users in mind.

Bridging innovation and market success: The role of a commercial co-founder in biotech startups
Biotech is capital-intensive, complex and filled with technical unknowns |Many founders come from scientific backgrounds, driven by discovery and innovation | But the truth is that technology doesn’t build a successful company; people do.

Mentors without playbooks: Real-world guidance in an AI-first era
Startups are raising funds to automate mentorship | Governments are rolling out national training platforms | AI tools are now being trained to mimic career coaching and feedback loops | But here’s the uncomfortable truth: insight isn’t scalable.

The future of social and quick commerce for developing countries
Social commerce companies allow you to buy the fancy shirt that someone is wearing on Instagram immediately and have it delivered to your house | While the commercial viability of these companies is still up for debate, online purchasing is here to stay.

Malaysia’s digital dilemma: Stuck in the past or embracing the future?
Malaysian companies have always been considered the late majority in the technology adoption life cycle | This is evident when 79 per cent of companies in Malaysia are still lagging in digital agility.

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Singapore-based global VC firm True Global Ventures 4 Plus (TGV) has secured a Capital Markets Services (CMS) licence from the Monetary Authority of Singapore (MAS).

This licence allows True Global Ventures to conduct regulated fund management activities beyond its existing VC fund management mandate and elevates its status to a Licensed Fund Management Company (LFMC) for accredited investors.

This strategic move enables the firm to manage regulated investment funds directly from Singapore, marking a pivotal moment for its operational expansion.

Also Read: Investing in Asia’s future: How VC funds are adapting to geopolitical shifts

With this enhanced licence, TGV is now poised to introduce diverse investment strategies that complement its established VC funds.

These include the potential to manage:

• Continuation funds: Designed to extend support for high-performing portfolio companies through additional growth capital, offering investors continued participation in later-stage pre-IPO companies. This also allows investment in primary rounds and secondaries without the constraints of TGV’s previous Venture Capital Fund Management (VCFM) licence.
• Fund of funds: Aimed at diversifying investor portfolios by allocating capital to top-tier VC managers across various regions and sectors, leveraging TGV’s extensive global networks.
• Public companies investments: Selective investments in listed companies that align with TGV’s core themes of artificial intelligence (AI) and blockchain, enabling investors to benefit from both private and public markets.
• Crypto funds: Offering professionally managed exposure to digital assets, underpinned by institutional-grade governance and risk management, building on TGV’s strong track record in blockchain.

Beatrice Lion, CEO of TGV, satated: “This milestone enables us to build on True Global Ventures’s strong track record and with immediate effect we will be able to invest more in secondaries in our existing portfolio without restrictions from our previous VCFM license.”

Dušan Stojanović, initiator of TGV, reiterated the firm’s strategic direction. “With our expanded license, all of the above investment strategies are possibilities of our fund management activities. That said, we will still maintain our core focus on funds investing in equity with fund sizes between US$100 and 200 million where we have so far had exceptional returns being among the top 3 per cent of venture capital funds globally in the same vintage.”

Also Read: TGV invests in Tookitaki to drive innovation in anti-financial crime solutions

Founded by seasoned entrepreneurs and investors, True Global Ventures backs serial entrepreneurs in innovation-driven sectors, such as artificial intelligence and blockchain technologies.

The firm primarily invests in venture companies across key global hubs, including the Bay Area, New York, Singapore, Hong Kong, London, Paris, Stockholm, and Dubai.

In March this year, TGV invested in Silicon Valley-based COVU, an AI-driven platform aiming to transform the insurance landscape.

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Kozystay, a tech-enabled hospitality company in Indonesia, has raised an undisclosed Series A round to accelerate its expansion and solidify its position as the country’s largest short-term rental management operator. The round was backed by Integra Partners, Cercano Management, and Intudo Ventures, with Cercano reaffirming its support after first investing in Kozystay’s seed round.

The fresh funding will be used to grow Kozystay’s managed portfolio to over 1,000 high-end apartments and villas, with profitability expected by the end of 2025. Expansion plans include deeper penetration in Jakarta, Bali, and Bandung, alongside entry into new cities such as Surabaya, Bogor, and Lombok.

This announcement lands strategically for Indonesia’s travel and real estate ecosystem. The country is experiencing a post-pandemic travel resurgence, coupled with surging domestic tourism, growing acceptance of remote work, and a shift towards flexible, experience-led accommodations.

“Indonesia is one of the most dynamic travel and property markets in the world,” said Patrick Yip, Founding Partner at Intudo. “Kozystay is uniquely positioned to capture these opportunities by transforming underutilised properties into world-class hospitality experiences”.

Also Read: MOGUL unveils MAIA, AI-powered home search tool to streamline property buying

Founded to bridge the gap between the consistency of hotels and the authenticity of alternative stays, Kozystay uses a tech-enabled model to manage and convert underused real estate into income-generating short-term rentals. The company collaborates with developers to launch aparthotels, offering operational efficiency while delivering a premium guest experience.

Indonesia’s market has an estimated 200,000+ underutilised apartments and an accelerating villa segment, areas that traditional hotel chains have largely overlooked. Kozystay’s asset-light approach allows rapid scaling with lower overhead, particularly within the extended-stay category, which is proving to be more resilient and profitable post-COVID-19.

The company has seen over seven times revenue growth in the last two years, signed developer partnerships, and integrated with platforms such as Homes & Villas by Marriott Bonvoy, allowing guests to earn loyalty points while booking Kozystay properties.

While Indonesia remains the company’s current focus, Kozystay’s blueprint hints at regional ambitions. Bali, one of the world’s largest short-term rental markets, is a valuable launchpad for broader Southeast Asian expansion.

Tommy Teo of Cercano Management highlighted Kozystay’s operational excellence and ambition to disrupt Indonesia’s extended-stay segment: “We are excited to continue backing the team on its path to becoming the largest tech-enabled short-term rental management company in the country”.

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Image Credit: Kozystay

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Aspire, a Singapore-based all-in-one finance platform, has launched Aspire Yield, a new investment product designed to give small and medium enterprises (SMEs) institutional-grade returns on idle business funds without sacrificing liquidity or accessibility.

Following its Capital Markets Services License from the Monetary Authority of Singapore (MAS) in April 2025, Aspire can now offer regulated investment solutions through AFT SG 2 Pte Ltd, part of the Aspire Group.

With Aspire Yield, businesses can access Singapore and US dollar-denominated money market funds, earning up to 2.04 per cent and 3.88 per cent per annum, respectively. This is significantly higher than the standard 0.01 per cent to 0.25 per cent offered by traditional business savings accounts.

It removes many of the common barriers to entry associated with traditional investment products, including no minimum investment amounts, next-business-day liquidity, no lock-up periods, and full integration within Aspire’s existing platform.

“Businesses need their capital to work harder, but they also need immediate access when opportunities or challenges arise,” said Damien Passavent, Chief Product Officer at Aspire. “This isn’t about locking money away – it’s about making every dollar more productive while preserving complete operational flexibility”.

Also Read: Kozystay raises Series A to scale Indonesia’s short-term rental market amid hospitality shift

Aspire Yield is available immediately to Singapore-incorporated businesses.

The financial investment sector has long underserved small businesses. While corporates enjoy dedicated wealth managers and access to high-yield products, SMEs are often left with limited options, especially when they need operational flexibility.

Aspire Yield aims to close this gap. According to Aspire’s internal research from July 2025, 55 per cent of funds now invested through Aspire Yield were previously sitting idle in traditional business accounts, generating little to no return.

“This is capital that could have been working harder,” said Andrea Baronchelli, CEO and co-founder of Aspire. “Aspire Yield changes this by giving every eligible Singapore business access to the same high-quality money market funds that are available to institutional investors, seamlessly integrated into their daily financial operations”.

Aspire has partnered with Fullerton Fund Management to manage the underlying investments for SGD and USD yield accounts, adding credibility and experience to the offering.

Mark Yuen, Chief Business Development Officer at Fullerton, highlighted the broader mission: “Our partnership with Aspire democratises access to professional fund management, enabling SMEs to optimise their working capital with the same calibre of investment solutions traditionally reserved for larger businesses”.

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Image Credit: Eric Prouzet on Unsplash

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