AI News
- SpaceX insider share sale sets $800 billion valuation as it prepares to go public, Bloomberg News reports
SpaceX insider share sale sets $800 billion valuation as it prepares to go public, Bloomberg News reports
Source link - Huawei’s latest handset uses improved China-made chip, report shows
- US seized tanker near Venezuela just as warrant was set to expire, court document shows
- Jury orders Johnson & Johnson to pay $40 million to two women in latest talc trial
- US lawmaker demands details on Trump’s decision to sell Nvidia H200 chips to China
- Battery X Metals submits draft registration for US exchange listing
- Bitcoin hoarder company Strategy remains in Nasdaq 100
- Tether Makes Bid to Buy Football Club Juventus
Crypto stablecoin issuer Tether says it has launched a bid to fully acquire the Italian professional soccer club, Juventus Football Club, which has reportedly already been shot down.
Tether said on Friday that it submitted a binding all-cash proposal to Exor, the holding company of the Agnelli family, for its 65.4% controlling stake in Juventus that it has held for over 100 years.
If Exor agrees, then Tether will make a “public offer for the remaining shares at the same price.” Juventus is a public company with a market capitalization of 944.49 million euros ($1.1 billion), having closed trading on Friday up 2.3% to 2.23 euros ($2.62).
However, AFP reported that Tether’s bid has already been rebuffed, with a source close to Exor saying that “Juventus is not for sale.” Exor and Tether did not immediately respond to Cointelegraph’s request for comment.
Tether promises $1.1 billion investment
Tether said it’s prepared to invest 1 billion euros ($1.1 billion) in the support and development of Juventus if the transaction completes.
“Tether is in a position of strong financial health and intends to support Juventus with stable capital and a long horizon,” said Tether CEO Paolo Ardoino.
Source: Tether “For me, Juventus has always been part of my life,” Ardoino added. “I grew up with this team. As a boy, I learned what commitment, resilience, and responsibility meant by watching Juventus face success and adversity with dignity.”
Related: Major fantasy sports operator enters prediction markets with Polymarket
Tether, which issues the self-named stablecoin Tether (USDT), has looked to expand its business beyond the token and has taken up investing in artificial intelligence, robotics and a health platform.
The company first bought a stake in Juventus in February and boosted its stake to over 10% in April.
It has since looked to boost its influence on the club and, in October, nominated its deputy investment chief, Zachary Lyons, along with Francesco Garino, to the football club’s board of directors.
The bids have paid off, as Juventus shareholders approved Garino’s appointment to the board of directors last month.
Magazine: Peter McCormack’s Real Bedford Football Club puts Bitcoin on the map
Source link - SpaceX sets $800 billion valuation, Bloomberg News reports
- Venezuela-US tensions spike in wake of seized tanker as Nobel winner vows change
- Brazilian airline Azul gets bankruptcy court approval for debt restructuring
- US delays new Air Force One delivery date until mid-2028, Bloomberg News reports
- Tokenization Benefits will be ‘light at first,’ says NYDIG
The tokenization of stocks won’t immediately be of immense benefit to the crypto market, but the benefits could increase if such assets are allowed to better integrate on blockchains, says NYDIG.
“The benefits to networks these assets reside on, such as Ethereum, are light at first, but increase as their access and interoperability and composability increase,” NYDIG global head of research Greg Cipolaro said in a note on Friday.
The initial benefits will be the transaction fees charged for using tokenized assets, and the blockchain hosting them will “enjoy increasing network effects” for storing them, Cipolaro added.
Tokenizing real-world assets, or RWAs, such as US stocks, has become a hot topic in the crypto industry, with major exchanges, including Coinbase and Kraken, wanting to launch tokenized stock platforms in the US after their success overseas.
Securities and Exchange Commission chair Paul Atkins said earlier this month that the US financial system could embrace tokenization in a “couple of years,” which Cipolaro said shows that “tokenization is likely going to be a big trend.”
Paul Atkins speaking to Fox Business earlier in December on tokenized US stocks. Source: Fox Business “In the future, one could see these RWAs being part of DeFi (composability), either as collateral for borrowing, an asset to be lent out, or for trading,” he added. “This will take time as technology develops, infrastructure is built out, and rules and regulations evolve.”
Tokenized assets can “differ greatly”
Cipolaro noted that making composable and interoperable tokenized assets isn’t straightforward, as “their form and function differ greatly” and are hosted on public and non-public networks.
The Canton Network, a non-public blockchain created by the company Digital Asset Holdings, is currently the largest blockchain for tokenized assets with $380 billion, or “91% of the total ‘represented value’ of all RWAs,” Cipolaro explained.
Ethereum, meanwhile, is “by far and away” the most popular public blockchain for tokenized assets, with $12.1 billion of RWAs deployed on it, he added.
Related: US financial markets ‘poised to move onchain’ amid DTCC tokenization greenlight
“But even on an open, permissionless network such as Ethereum, the design of the specific tokenized asset can vary greatly,” Cipolaro said. “These RWAs are often securities, broker-dealers, KYC/investor accreditation, whitelisted wallets, transfer agents, and other structures from traditional finance are required.”
He added that even though tokenized assets still need traditional financial structures, companies are using blockchain technology for the benefit of “near instant settlement, 24/7 operations, programmatic ownership, transparency, auditability, and collateral efficiency.”
“In the future, if things become more open and regulations become more favorable, as Chairman Atkins suggests, access to these assets should become more democratized, and thus these RWAs would enjoy expanded reach,” Cipolaro said.
“Investors should pay attention,” he added, “even if the economic impacts to traditional cryptocurrencies are minimal today.”
Magazine: Can Robinhood or Kraken’s tokenized stocks ever be truly decentralized?
Source link - Lannister Mining files for 2M share IPO at $4-$6/sh
- Battle for STAAR Surgical intensifies as Glass Lewis reiterates stance 'against'
- SOL Slumps As TVL Slides And Memecoin Demand Fades
Key takeaways:
SOL funding rates signal low bullish conviction after a 46% price drop, despite Firedancer’s launch and rising Solana network transactions.
Solana DApp revenues and DEX activity have weakened sharply, suggesting broader market fatigue even as Solana’s ecosystem grows.
Solana’s native token, SOL (SOL), has failed to sustain prices above $145 for the past four weeks. A decline in network activity amid reduced demand for decentralized applications has negatively impacted SOL’s outlook.
With Solana’s TVL now down more than $10 billion from its September peak, onchain metrics are flashing signs that user participation is cooling faster than expected.
Solana TVL (left) vs. 7-day DApp revenues (right), USD. Source: DefiLlama The total value locked (TVL) on Solana has been in decline since reaching its all-time high of $15 billion in September. Falling smart contract deposits increase the immediately available SOL supply for sale. Meanwhile, revenues from decentralized applications (DApps) on Solana dropped to $26 million per week, down from $37 million two months earlier.
Traders’ appetite for memecoins has also weakened since the cryptocurrency market flash crash on Oct. 10, an event that exposed critical flaws in leveraged positions and the overall liquidity of smaller altcoins. Regardless of whether derivatives markets amplified the move, traders became less comfortable with DEX platforms following the $19 billion liquidation event.
Memecoin market capitalization, USD. Source: TradingView Memecoins have been a major driver for SOL, especially after the Official Trump (TRUMP) launch in January, which pushed decentralized exchange (DEX) volumes on Solana to $313.3 billion that month. According to DefiLlama data, this activity has since dropped by 67%, partly explaining the softer revenue trends across Solana DApps.
Still, the reduced demand for blockchain-based applications may reflect a broader market slowdown rather than a specific weakness in Solana.
Blockchains ranked by 30-day network fees. Source: Nansen Solana network fees fell by 21% over the past 30 days, yet competing blockchains experienced steeper declines. Fees on the BNB Chain dropped 67%, while Ethereum saw a 41% decrease over the same period, according to Nansen data. Additionally, the number of transactions on Solana increased by 6%, while activity on the BNB Chain decreased by 42%.
SOL long leverage demand vanishes
SOL perpetual futures can provide a useful gauge of traders’ sentiment, as exchanges charge either buyers (longs) or sellers (shorts) based on leverage demand. In neutral conditions, the funding rate typically ranges between 6% and 12% per year, with longs paying to keep their positions open given the cost of capital. Conversely, a negative funding rate signals broader bearish sentiment.
SOL perpetual futures 8-hour funding rate. Source: CoinGlass SOL’s annualized funding rate stood at 6% on Friday, showing weak demand for bullish leverage. The unusual 11% negative reading on Thursday should not be interpreted as heavy demand for bearish positions, as market makers moved quickly to stabilize imbalances. Still, it may take time for bulls to rebuild conviction after SOL’s 46% price decline over three months.
Several recent developments in the Solana ecosystem are expected to draw renewed investor interest, including Friday’s mainnet launch of Firedancer, a new validator client designed to expand processing capacity. The project took more than three years to build under the guidance of Jump Trading, one of the industry’s top market makers. Developers reported a strong response after the validator node re-synced in under two minutes.
Related: J.P. Morgan taps Solana for Galaxy’s tokenized corporate bond issuance
Kamino, the second-largest Solana DApp by TVL, also announced new products on Friday, including fixed-rate and fixed-term borrowing, offchain collateral, private credit and an onchain Bitcoin-backed institutional credit line. Kamino’s $69 million in annualized fees and an average 10% annualized yield on deposits offer a clear indication of the ecosystem’s expansion.
Whether SOL can reclaim the $190 level last seen two months ago remains uncertain, and it is unlikely that improved validation software or expanded DApp offerings alone will restore the confidence needed to support a sustainable bullish trend.
This article is for general information purposes and is not intended to be and should not be taken as, legal, tax, investment, financial, or other advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
Source link - Live Nation, Ticketmaster must face sprawling class action over prices
- Bitcoin Has No Value Beyond Financial Speculation
Bitcoin is a purely speculative asset and is akin to a collectible toy, according to John Ameriks, the global head of quantitative equity at asset management company Vanguard.
“It’s difficult for me to think about Bitcoin as anything more than a digital Labubu,” Ameriks said at Bloomberg’s ETFs in Depth conference in New York City.
Labulus are collectible plush toys featuring animals with anthropomorphic features. Despite Ameriks’ criticism, he said that Bitcoin (BTC) may have value beyond financial speculation in the future under certain circumstances.
The cryptocurrency could find real-world use cases beyond market speculation in scenarios of high fiat currency inflation or political instability, Ameriks said. These forces drive the adoption of alternative currencies.
Bitcoin’s price action from 2012 to 2025. Source: CoinMarketCap The comments followed Vanguard’s announcement in December, allowing its clients to trade cryptocurrency funds for the first time, and highlight the doubts of analysts and executives in traditional finance about Bitcoin, even as its price hovers above $90,000, with 16 years of network uptime.
Related: Bitcoin first, crypto at scale: Inside the UAE’s layered digital asset strategy
Vanguard finally makes the crypto leap
Vanguard was the last of the three major asset management companies, which include BlackRock and State Street, to allow clients to hold crypto investment vehicles.
“We allow people to hold and buy these ETFs on our platform if they wish to do so, but they do so with discretion,” Ameriks said, adding that Vanguard won’t offer investors “advice as to whether to buy or sell or which crypto tokens they ought to hold.”
ETFs remain a significant source of capital inflows into the digital asset markets. Source: Farside Investors The policy change gives Vanguard’s over 50 million clients exposure to crypto markets and creates yet another bridge between traditional finance and digital assets, funneling money into crypto networks. The fresh capital injections from Vanguard’s clients could boost prices for cryptocurrencies tied to exchange-traded funds.
Magazine: Quantum attacking Bitcoin would be a waste of time: Kevin O’Leary
Source link - U.S. stocks lower at close of trade; Dow Jones Industrial Average down 0.51%
- Karbon Capital Partners Corp completes $345 million IPO
- EU vote on Mercosur trade deal set for next week, Denmark says
- Bitnomial Wins CFTC Approval to Launch Regulated Prediction Markets
Bitnomial Clearinghouse LLC received approval from the US Commodity Futures Trading Commission (CFTC) to clear fully collateralized swaps, enabling its parent company, Bitnomial, to launch prediction markets and offer clearing services to other platforms.
According to Friday’s announcement, Bitnomial’s prediction market will cover crypto and economic events, alongside its existing Bitcoin (BTC) and crypto derivatives products. The contracts are designed to allow traders to take positions on outcomes, such as token price levels and macroeconomic data.
The approval expands the umbrella of the trading products offered by Bitnomial. Based in Chicago, the company’s exchange and clearing arms offer perpetuals, futures, options contracts and leveraged spot trading. The company’s clearinghouse also supports crypto-based margin and settlement, allowing approved products to be margined and settled directly in digital assets.
Bitnomial president Michael Dunn said the approval allows the company to serve “both our own exchange and external partners, building a clearing network that strengthens the entire prediction market ecosystem.”
Bitnomial Clearinghouse operates as an infrastructure-only clearing provider, rather than a retail competitor, giving approved partners access to its margin and settlement systems and allowing collateral to be converted between US dollars and cryptocurrency.
The approval follows a recent green light to launch a CFTC-regulated spot cryptocurrency trading platform in the US, allowing customers to buy, sell and trade leveraged and non-leveraged crypto products on a federally supervised exchange.
Event contracts on Polymarket. Source: Polymarket Related: Coinbase may debut prediction markets, tokenized stocks on Wednesday: Report
Polymarket gains momentum in the US
Prediction markets have emerged as a major trend in 2025. According to DefiLlama data, prediction market Kalshi has generated $5.27 billion in trading volume over the last 30 days, while blockchain-based Polymarket recorded just under $2 billion over the same time period.
Kalshi trading volume. Source: DefiLlama In November, Polymarket received regulatory approval from the CFTC to operate an intermediated trading platform, allowing access through registered brokers under the rules governing US markets.
The approval followed the closure of an investigation in July led by the CFTC and US Department of Justice into whether Polymarket had allowed trading by US users, a probe that included an FBI search of founder Shayne Coplan’s home.
Polymarket, which settles contracts on the Polygon blockchain using the USDC (USDC) stablecoin, has also secured several partnerships in recent months, including the UFC and Zuffa boxing and fantasy sports operator PrizePicks in November.
Magazine: Meet the onchain crypto detectives fighting crime better than the cops
Source link - Top 5 Autopart OEM Stocks WarrenAI Says to Watch: Visteon Leads the Pack
- How Ripple Convinced Wall Street About Its Post-SEC Future
It has been a long and arduous journey for Ripple. After emerging from a multiyear battle with the US Securities and Exchange Commission, the blockchain-based payments and infrastructure company is pressing ahead with broad ambitions to unify custody, treasury and prime-brokerage services, each underpinned by blockchain technology and stablecoins.
Despite the bruising legal fight and the reputational damage that came with it, Ripple has still managed to win over some of Wall Street’s biggest players.
This week’s Crypto Biz looks at how Ripple secured a striking $40 billion valuation, and why some of its backers are quietly placing bets on an XRP (XRP) surge.
Elsewhere, WisdomTree rolled out a new options-income strategy through a tokenized fund, Bitwise shifted its crypto index fund to the NYSE Arca, and Jack Mallers’ Twenty-First Capital made its public debut on the New York Stock Exchange.
The story behind Ripple’s $40 billion valuation
In November, Ripple raised $500 million at a valuation of $40 billion, attracting investors including Citadel Securities, Fortress Investment Group and funds tied to Brevan Howard, Pantera Capital and Galaxy Digital. New reporting now sheds light on how the deal came together.
According to Bloomberg, Ripple secured commitments by offering investors substantial downside protection. The terms allowed participating funds to sell their shares back to Ripple after three or four years for a guaranteed annualized return of 10%. Ripple also retained the right to repurchase those shares during the same window, at an annualized return of 25% for investors.
Ripple has since broadened its strategy, pushing deeper into the stablecoin market and pursuing acquisitions in brokerage and treasury management. Still, sources told Bloomberg that some backers were motivated not only by the company’s expansion plans but also by expectations for the future performance of XRP.
Ripple’s RLUSD stablecoin has grown to a market cap of more than $1 billion. Source: CoinMarketCap WisdomTree launches tokenized fund targeting options-income strategy
Asset manager WisdomTree is bringing a complex options strategy onchain with a new tokenized fund designed to track the price and yield performance of the Volos US Large Cap Target 2.5% PutWrite Index. The fund, called the WisdomTree Equity Premium Income Digital Fund, is now available under the token ticker EPXC and the fund ticker WTPIX.
The Volos benchmark is modeled on a “put-writing” strategy, in which the index sells cash-secured put options to generate income. Instead of writing options directly on the S&P 500, the strategy uses contracts tied to the SPDR S&P 500 ETF Trust (SPY), allowing it to collect option premiums as the seller.
The launch marks another step in the convergence of traditional finance and blockchain, giving volatility-wary investors a way to access a put-writing strategy through an onchain fund.
Source: WisdomTree Prime Bitwise’s crypto index fund lists on NYSE Arca
On Dec. 10, Bitwise Asset Management’s 10 Crypto Index Fund (BITW) transitioned from the over-the-counter market to NYSE Arca, broadening its visibility and opening the door to greater institutional participation. The fund is now available as an exchange-traded product.
BITW provides diversified exposure to the 10 largest crypto assets by market capitalization, including Bitcoin (BTC), Ether (ETH), Solana (SOL) and XRP.
“Most investors we meet are convinced crypto is here to stay, but they don’t know who the winners will be or how many will succeed,” said Matt Hougan, Bitwise’s chief investment officer. “The index approach is a way for people to invest in the thesis without having to predict the future.”
An NYSE Arca listing may help BITW attract investors who are hesitant to buy crypto directly through exchanges.
Source: Matt Hougan Twenty One Capital opens with a strong public debut
Bitcoin treasury company Twenty One Capital began trading on the New York Stock Exchange on Tuesday, marking a notable step in the growing institutional push into digital assets. The listing follows the company’s merger with Cantor Equity Partners.
The company, now trading under the ticker XXI, holds more than 43,000 BTC, valued at nearly $4 billion.
“Bitcoin is honest money. That’s why people choose it, and that’s why we built Twenty One on top of it,” CEO Jack Mallers said as the company went public.
Backed by Cantor Fitzgerald, Tether, Bitfinex and SoftBank, Twenty One Capital has exceeded its Bitcoin accumulation targets after a series of large purchases throughout the year.
Twenty One Capital’s Bitcoin accumulation this year. Source: BitcoinTreasuries.NET Crypto Biz is your weekly pulse on the business behind blockchain and crypto, delivered directly to your inbox every Thursday.
Source link - Dell to raise prices on commercial products amid AI-driven chip shortage – Insider
- Bitcoin Miners Turn to Renewables As Hash Price Hovers Near Record Lows
Bitcoin mining companies are turning to renewable energy to reduce costs amid record-low hash price, a critical metric for miner profitability, which is below the $40 level that marks the breakeven point for mining operators.
Hash price, which measures expected miner profitability per unit of computing power used to successfully add a block, is about $39.4 per petahash second per day (PH/s/day) at the time of this writing, according to mining data provider Hashrate Index.
Sangha Renewables, a Bitcoin (BTC) miner and renewable energy company, energized a 20 megawatt (MW) solar-powered mining facility in Ector County, Texas, on Thursday, according to TheMinerMag.
Miner hash price continues to decline. Source: Hashrate Index The Phoenix Group, a mining and digital infrastructure company, announced in November that it had launched a 30-megawatt mining operation using hydroelectric power in Ethiopia.
In September, Canaan, a hardware manufacturer and Bitcoin miner, partnered with digital infrastructure company Soluna to deploy a mining facility at a wind-powered site in Briscoe County, Texas.
Canaan is also developing an adaptive mining rig to maximize energy efficiency. The hardware balances electrical loads and uses AI to adjust energy usage.
The Bitcoin mining industry is facing several economic challenges, including reduced mining rewards, which have placed industry players in the toughest profit margin environment in the sector’s history.
Related: Thirteen years after the first halving, Bitcoin mining looks very different in 2025
Mining BTC becomes increasingly expensive
The Bitcoin network’s mining hashrate, a proxy for the total amount of computing power securing the protocol, continues to reach new all-time highs.
Although the hashrate oscillates in the short term, the long-term trend is upward, with the network hashrate crossing the 1 zetahash milestone in April.
Bitcoin network hashrate. Source: CryptoQuant One zetahash is equal to 1,000 petahashes. Rising hashrate means that miners must expend ever-greater computing resources to remain competitive and successfully mine blocks.
In November, stablecoin issuer Tether said it was shuttering its Bitcoin mining operation in Uruguay, citing rising energy costs.
Magazine: Big questions: Would Bitcoin survive a 10-year power outage?
Source link - Citi says Boeing is a buy as the new year approaches. Here’s why
- BTC Short-Term Holders Were Profitable For 66% of 2025
Bitcoin’s (BTC) short-term holders (STHs) have spent 229 out of 345 days in profit, an outcome that appears contradictory given that BTC is at a negative year-to-date (YTD) return and struggles to trade above $100,000.
However, beneath the weak headline performance, the structure of onchain positioning tells a different story.
Key takeaways:
Bitcoin short-term holders logged profits for 66% of 2025, even while BTC traded below its yearly open.
The STH realized price at $81,000 acted as a sentiment pivot, which divided phases of panic and recovery.
Unrealized losses narrowed from -28% to -12%, signaling fading capitulation.
Bitcoin trades near its realized price
The volatility of 2025 can be explained through the lens of the 1–3 month STH cohort. As illustrated in the chart, Bitcoin’s price repeatedly interacted with its realized price, producing alternating waves of green net-unrealized profit/loss (NUPL) profitability and red NUPL losses.
Bitcoin STH realized price and NUPL range. Source: CryptoQuant Early in 2025, BTC stayed above this cost basis for nearly two months, giving STHs their first pocket of sustained profits. But the shift into February and March saw prices fall below the cohort’s realized price, dragging STH NUPL into deep red and marking one of the year’s longest loss stretches.
However, momentum reversed sharply from late April through mid-October, where the chart’s broad green zones align with Bitcoin’s 172-day period of predominantly profitable STH activity. Even though the broader trend was softening, these recoveries pushed STH profitability far higher than the market narrative implied.
Only in late October did the market slip back beneath the realized price again, triggering the ongoing 45-day period of STH losses that coincides with the swelling red NUPL region.
Bitcoin STH realized price against BTC. Source: CryptoQuant In effect, STH profitability in 2025 was driven less by Bitcoin’s directional trend and more by the frequency with which BTC reclaimed its cost basis. Those repeat rebounds, even within a negative YTD environment, allowed short-term holders to finish with a two-thirds profit ratio.
Related: Bitcoin decouples from stocks in second half of 2025
The BTC cost basis shift may define the next phase again
Bitcoin’s rebound toward $92,500 compressed STH unrealized losses from -28% to -12%, a sign that forced selling is easing and emotional exhaustion is setting in. The STH realized rice at $81,000 remains the psychological fulcrum, as each reclaim historically marks the transition from capitulation into stability.
BTC age-band unrealized P&L distribution. Source: CryptoQuant New money and investors entering within days to weeks, hover near breakeven, reinforcing this stabilizing structure. If BTC continued to improve STH profitability while holding above this $81,000 foundation, the late-year correction could already be nearing completion, setting the stage for the next expansion phase.
Related: Bitcoin new year bear flag sparks $76K BTC price target next
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
Source link - Enabling small language models to solve complex reasoning tasks | MIT News
As language models (LMs) improve at tasks like image generation, trivia questions, and simple math, you might think that human-like reasoning is around the corner. In reality, they still trail us by a wide margin on complex tasks. Try playing Sudoku with one, for instance, where you fill in numbers one through nine in such a way that each appears only once across the columns, rows, and sections of a nine-by-nine grid. Your AI opponent will either fail to fill in boxes on its own or do so inefficiently, although it can verify if you’ve filled yours out correctly.
Whether an LM is trying to solve advanced puzzles, design molecules, or write math proofs, the system struggles to answer open-ended requests that have strict rules to follow. The model is better at telling users how to approach these challenges than attempting them itself. Moreover, hands-on problem-solving requires LMs to consider a wide range of options while following constraints. Small LMs can’t do this reliably on their own; large language models (LLMs) sometimes can, particularly if they’re optimized for reasoning tasks, but they take a while to respond, and they use a lot of computing power.
This predicament led researchers from MIT’s Computer Science and Artificial Intelligence Laboratory (CSAIL) to develop a collaborative approach where an LLM does the planning, then divvies up the legwork of that strategy among smaller ones. Their method helps small LMs provide more accurate responses than leading LLMs like OpenAI’s GPT-4o, and approach the precision of top reasoning systems such as o1, while being more efficient than both. Their framework, called “Distributional Constraints by Inference Programming with Language Models” (or “DisCIPL”), has a large model steer smaller “follower” models toward precise responses when writing things like text blurbs, grocery lists with budgets, and travel itineraries.
The inner workings of DisCIPL are much like contracting a company for a particular job. You provide a “boss” model with a request, and it carefully considers how to go about doing that project. Then, the LLM relays these instructions and guidelines in a clear way to smaller models. It corrects follower LMs’ outputs where needed — for example, replacing one model’s phrasing that doesn’t fit in a poem with a better option from another.
The LLM communicates with its followers using a language they all understand — that is, a programming language for controlling LMs called “LLaMPPL.” Developed by MIT’s Probabilistic Computing Project in 2023, this program allows users to encode specific rules that steer a model toward a desired result. For example, LLaMPPL can be used to produce error-free code by incorporating the rules of a particular language within its instructions. Directions like “write eight lines of poetry where each line has exactly eight words” are encoded in LLaMPPL, queuing smaller models to contribute to different parts of the answer.
MIT PhD student Gabriel Grand, who is the lead author on a paper presenting this work, says that DisCIPL allows LMs to guide each other toward the best responses, which improves their overall efficiency. “We’re working toward improving LMs’ inference efficiency, particularly on the many modern applications of these models that involve generating outputs subject to constraints,” adds Grand, who is also a CSAIL researcher. “Language models are consuming more energy as people use them more, which means we need models that can provide accurate answers while using minimal computing power.”
“It’s really exciting to see new alternatives to standard language model inference,” says University of California at Berkeley Assistant Professor Alane Suhr, who wasn’t involved in the research. “This work invites new approaches to language modeling and LLMs that significantly reduce inference latency via parallelization, require significantly fewer parameters than current LLMs, and even improve task performance over standard serialized inference. The work also presents opportunities to explore transparency, interpretability, and controllability of model outputs, which is still a huge open problem in the deployment of these technologies.”
An underdog story
You may think that larger-scale LMs are “better” at complex prompts than smaller ones when it comes to accuracy and efficiency. DisCIPL suggests a surprising counterpoint for these tasks: If you can combine the strengths of smaller models instead, you may just see an efficiency bump with similar results.
The researchers note that, in theory, you can plug in dozens of LMs to work together in the DisCIPL framework, regardless of size. In writing and reasoning experiments, they went with GPT-4o as their “planner LM,” which is one of the models that helps ChatGPT generate responses. It brainstormed a plan for several “Llama-3.2-1B” models (smaller systems developed by Meta), in which those LMs filled in each word (or token) of the response.
This collective approach competed against three comparable ones: a follower-only baseline powered by Llama-3.2-1B, GPT-4o working on its own, and the industry-leading o1 reasoning system that helps ChatGPT figure out more complex questions, such as coding requests and math problems.
DisCIPL first presented an ability to write sentences and paragraphs that follow explicit rules. The models were given very specific prompts — for example, writing a sentence that has exactly 18 words, where the fourth word must be “Glasgow,” the eighth should be “in”, and the 11th must be “and.” The system was remarkably adept at handling this request, crafting coherent outputs while achieving accuracy and coherence similar to o1.
Faster, cheaper, better
This experiment also revealed that key components of DisCIPL were much cheaper than state-of-the-art systems. For instance, whereas existing reasoning models like OpenAI’s o1 perform reasoning in text, DisCIPL “reasons” by writing Python code, which is more compact. In practice, the researchers found that DisCIPL led to 40.1 percent shorter reasoning and 80.2 percent cost savings over o1.
DisCIPL’s efficiency gains stem partly from using small Llama models as followers, which are 1,000 to 10,000 times cheaper per token than comparable reasoning models. This means that DisCIPL is more “scalable” — the researchers were able to run dozens of Llama models in parallel for a fraction of the cost.
Those weren’t the only surprising findings, according to CSAIL researchers. Their system also performed well against o1 on real-world tasks, such as making ingredient lists, planning out a travel itinerary, and writing grant proposals with word limits. Meanwhile, GPT-4o struggled with these requests, and with writing tests, it often couldn’t place keywords in the correct parts of sentences. The follower-only baseline essentially finished in last place across the board, as it had difficulties with following instructions.
“Over the last several years, we’ve seen some impressive results from approaches that use language models to ‘auto-formalize’ problems in math and robotics by representing them with code,” says senior author Jacob Andreas, who is an MIT electrical engineering and computer science associate professor and CSAIL principal investigator. “What I find most exciting about this paper is the fact that we can now use LMs to auto-formalize text generation itself, enabling the same kinds of efficiency gains and guarantees that we’ve seen in these other domains.”
In the future, the researchers plan on expanding this framework into a more fully-recursive approach, where you can use the same model as both the leader and followers. Grand adds that DisCIPL could be extended to mathematical reasoning tasks, where answers are harder to verify. They also intend to test the system on its ability to meet users’ fuzzy preferences, as opposed to following hard constraints, which can’t be outlined in code so explicitly. Thinking even bigger, the team hopes to use the largest possible models available, although they note that such experiments are computationally expensive.
Grand and Andreas wrote the paper alongside CSAIL principal investigator and MIT Professor Joshua Tenenbaum, as well as MIT Department of Brain and Cognitive Sciences Principal Research Scientist Vikash Mansinghka and Yale University Assistant Professor Alex Lew SM ’20 PhD ’25. CSAIL researchers presented the work at the Conference on Language Modeling in October and IVADO’s “Deploying Autonomous Agents: Lessons, Risks and Real-World Impact” workshop in November.
Their work was supported, in part, by the MIT Quest for Intelligence, Siegel Family Foundation, the MIT-IBM Watson AI Lab, a Sloan Research Fellowship, Intel, the Air Force Office of Scientific Research, the Defense Advanced Research Projects Agency, the Office of Naval Research, and the National Science Foundation.
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- TIX Emerges From Stealth to Bring DeFi Lending to Live Event Ticketing
TIX, a settlement layer for the live-events industry, has emerged from stealth to apply decentralized finance (DeFi) lending and onchain settlement to a sector that has long functioned like a private credit market.
To date, the TIX network has facilitated over $8 million in ticket sales and generated approximately $2 million in venue financing. The activity has been conducted through KYD Labs, with TIX expected to launch on the Solana mainnet by mid-2026, the company told Cointelegraph.
TIX, led by Ticketmaster and Buildspace veterans, serves as the underlying settlement and financing layer for KYD Labs, a consumer-facing ticketing platform that raised $7 million in a funding round led by venture firm a16z.
While KYD Labs provides the interface used by venues and artists to sell tickets and manage events, TIX handles the onchain infrastructure, tokenizing tickets and enabling financing, settlement and repayment flows.
TIX aims to address what it describes as the live events industry’s credit-and-debt model, in which venues and promoters rely on upfront financing before any tickets are sold. The company does so by turning tickets into onchain real-world assets (RWAs).
In practice, the model is designed to allow venues to access upfront capital from multiple sources, enable artists to sell tickets directly and offer fans lower fees alongside more transparent resale policies.
Related: Securitize hires former PayPal exec as US tokenization gains traction
Ticketmaster takes blockchain technology seriously
While blockchain-based settlement layers are seeking to disrupt Ticketmaster’s dominance in the ticketing industry, the company itself has been experimenting with the technology for several years.
Ticketmaster has been working with blockchain technology since at least 2019 and chose the Flow blockchain in 2022 to support its non-fungible token (NFT)-based ticketing initiatives.
Since then, Ticketmaster has issued nearly 100 million NFT tickets, according to a report from TheStreet, which cited the continued integration of NFT technology across several apps as evidence of sustained adoption despite the waning hype since 2022.
Meanwhile, proponents of RWA technology argue it offers clear benefits for ticketing, including the ability to mint tickets as unique digital assets that reduce fraud and counterfeiting. Tokenization can also introduce greater transparency and control into secondary resale markets.
While NFTs and RWAs can overlap, they describe distinct concepts. NFTs refer to a token’s technical format, while RWAs describe the underlying asset or rights being represented. In ticketing, an RWA can be implemented using NFTs to tokenize access.
Related: Licensing-to-earn protocol turns intellectual property rights into RWAs
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- First Brands seeks access to customer payments held up in bankruptcy
- World App Adds Encrypted Chat, Stablecoin Yield and USD Accounts
Tools for Humanity is broadening its World platform beyond digital identity and crypto payments, adding encrypted messaging and financial services to its app as part of a push toward a super-app model.
The company, co-founded by OpenAI CEO Sam Altman, introduced an in-app messaging feature with end-to-end encryption that distinguishes between verified and unverified World ID accounts and enables users to send or request digital assets within chats.
According to an announcement, the application now supports third-party mini-apps, including prediction markets, games and financial tools, that run inside conversations. Tools for Humanity said it plans to add optional profile photo verification to help reduce impersonation and misuse.
The changes were released in San Francisco on Thursday by co-founders Altman and Alex Blania.
Alex Blania, left, and Sam Altman. Source: Tools for Humanity World App has also expanded stablecoin support to include USDC (USDC), EURC (EURC) and several Latin American peso-linked tokens. The release introduces yield products offering rates of up to 18% on Worldcoin (WLD) holdings and up to 15% on USDC, powered by the DeFi protocol Morpho, according to the company.
On the payments side, users in Argentina will be able to pay at more than one million merchants using QR codes.
The update also adds US dollar virtual accounts powered by Bridge in 18 countries, including the United States, Japan and several markets across Latin America, allowing users to receive wages, fund accounts from banks and spend USDC inside the app.
Tools for Humanity is a technology company that led the development of World Network and operates World App. World, formerly known as Worldcoin, is the digital identity and financial infrastructure project developed and operated by Tools for Humanity.
Related: Thai regulators raid alleged World iris scanning site, arrest multiple suspects
The evolution of super apps in the US
Tools for Humanity is joining a growing group of companies trying to build super-app ecosystems in Western countries. After buying Twitter in October 2022, Elon Musk posted that “buying Twitter” was the “accelerant to creating X, the everything app.”
Source: Elon Musk A super app is a single platform that combines social interaction, payments, commerce and financial services, a model popularized in Asia by services like WeChat. Today, several US companies are expanding crypto, payments and financial tools as they inch toward becoming their own versions of everything apps.
In October, Musk said X has rebuilt its messaging infrastructure into a standalone product called “X Chat,” describing it as a peer-to-peer, encrypted messaging service designed to compete with Telegram and WhatsApp.
Musk, who co-founded OpenAI with Sam Altman in 2015 and has had an ongoing feud with the OpenAI CEO since Musk left the organization in 2018, said in December on the People by WTF podcast that he likes the idea of having a “unified app or website where you can do anything you want” and that he sees China’s WeChat as a model for X.
“There’s no real WeChat outside of China,” he added.
Cryptocurrency exchange Coinbase also signaled a push toward a super app by rebranding Coinbase Wallet as the “Base app,” combining trading, payments, social features, messaging and mini-apps.
In addition, the banking app owned by Walmart OnePay is expected to roll out cryptocurrency trading and custody later this year, beginning with support for Bitcoin (BTC) and Ether (ETH). The app already offers banking, credit, loans and wireless plans and has positioned itself as a US-style super-app.
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- Bitcoin, Altcoins Gain Strength But Bears Still Dominate Range Highs
Key points:
The failure of the bulls to maintain Bitcoin above $94,050 has renewed selling, opening the doors for a fall to $87,700 and then to $84,000.
Most major altcoins remain under pressure and are threatening to challenge their recent lows.
Bitcoin (BTC) is stuck inside a narrow range between $94,588 and $89,260, indicating indecision between the bulls and the bears. The prediction markets do not expect the bulls to take charge in the near term, giving only a 30% chance of BTC hitting $100,000 before Jan. 1.
According to crypto analyst Darkfost, BTC is struggling to recover due to a lack of incoming liquidity, specifically from stablecoins. The crypto markets will have to attract new liquidity for BTC to start a “genuine bullish trend.”
Crypto market data daily view. Source: TradingView Select analysts expect BTC to fall below the recent low of $80,600. Trader Roman said in a post on X that BTC is likely to drop to $76,000, and that falling interest rates will not be able to prevent it.
What are the crucial support and resistance levels to watch out for in BTC and major altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
Bitcoin price prediction
BTC’s recovery is facing resistance at the 50% Fibonacci retracement level of $94,050, indicating that the bears are active at higher levels.
BTC/USDT daily chart. Source: Cointelegraph/TradingView There is support at $87,700 and then at $84,000. A break below the $84,000 level opens the gates for a retest of the Nov. 21 low of $80,600.
Buyers will need to push the Bitcoin price above the $94,050 resistance level to signal strength. The BTC/USDT pair may then climb to the 50-day simple moving average ($97,411).
The up move is expected to face significant selling in the zone between the 50-day SMA and the psychological level of $100,000. A close above $100,000 indicates that the bulls are back in the game.
Ether price prediction
Ether (ETH) turned down from the $3,350 level on Thursday, and the bears are attempting to sustain the price below the 20-day exponential moving average ($3,125).
ETH/USDT daily chart. Source: Cointelegraph/TradingView If they succeed, it indicates that the bears remain sellers on rallies. The Ether price may drop to $2,907 and later to $2,716. The ETH/USDT pair could resume its downtrend on a close below $2,623.
Conversely, if the price turns up from the current level and breaks above the $3,350 resistance, it signals the start of a new upward move. The pair may rise to $3,918 and then to $4,250.
BNB price prediction
BNB (BNB) has been trading near the 20-day EMA ($892) for the past few days, indicating equilibrium between buyers and sellers.
BNB/USDT daily chart. Source: Cointelegraph/TradingView The flattish 20-day EMA and the RSI just below the midpoint suggest a range-bound action between $791 and $1,020 for the next few days.
Sellers will have to sink the BNB price below the $791 level to start the next leg of the downtrend. The BNB/USDT pair may then collapse to $730. On the upside, a close above $1,020 indicates that the correction may be over. The pair could then rally to $1,182, which may act as a resistance.
XRP price prediction
XRP (XRP) remains stuck inside the descending channel pattern, indicating that the bears are in control.
XRP/USDT daily chart. Source: Cointelegraph/TradingView The bulls will have to propel the XRP price above the 50-day SMA ($2.25) to indicate strength. The XRP/USDT pair may then rally to the downtrend line, which is a vital level to watch out for. A close above the downtrend line signals that the bulls are back in the driver’s seat.
The bears will have to sink the price below the $1.98 level to clear the path for a drop to the support line and then to the critical level at $1.61.
Solana price prediction
The long tail on Solana’s (SOL) Thursday candlestick shows that the bulls are aggressively defending the $126 level.
SOL/USDT daily chart. Source: Cointelegraph/TradingView The bulls will have to propel the Solana price above the 50-day SMA ($152) to signal a potential trend change in the near term. The SOL/USDT pair could then ascend to $172 and subsequently to $190.
On the other hand, a break and close below the $126 level signals the resumption of the downward move. The pair may plummet to $100 and, after that, to the strong support at $95.
Dogecoin price prediction
Dogecoin (DOGE) turned down from the 20-day EMA ($0.14) on Wednesday, indicating that the bears are selling on every minor rally.
DOGE/USDT daily chart. Source: Cointelegraph/TradingView If the price continues lower and closes below the $0.13 support, it signals the start of a new downward move. The DOGE/USDT pair could then plunge to the Oct. 10 low of $0.10, which is likely to attract buyers.
The first sign of strength will be a break and close above the 20-day EMA. That shows the bulls are fiercely defending the $0.14 level. The Dogecoin price may climb to the 50-day SMA ($0.16) and later to $0.19.
Cardano price prediction
Cardano (ADA) turned down from the breakdown level of $0.50 on Wednesday, indicating that the bears are trying to flip the level into resistance.
ADA/USDT daily chart. Source: Cointelegraph/TradingView The flattish 20-day EMA ($0.44) and the RSI in the negative territory indicate a slight edge to the bears. There is support at $0.40 and then at $0.37. If sellers pull the Cardano price below $0.37, the ADA/USDT pair could tumble to $0.31 and potentially to the Oct. 10 intraday low of $0.27.
Buyers will have to push and maintain the price above the $0.50 level to signal a comeback. The pair could then rally to $0.60 and later to $0.70.
Related: Ether price rallied 260% last time this happened: Can ETH reach $5K?
Bitcoin Cash price prediction
Bitcoin Cash (BCH) turned up from the 20-day EMA ($560) on Thursday, indicating a positive sentiment.
BCH/USDT daily chart. Source: Cointelegraph/TradingView The bulls will strive to drive the Bitcoin Cash price above the $607 level and challenge the overhead resistance at $651. Sellers are expected to defend the $651 level with all their might, as a break above it opens the doors for a rally to $720.
The bears will have to sink the price below the moving averages to gain the upper hand. If they manage to do that, it suggests that the BCH/USDT pair could range between $607 and $443 for some time.
Hyperliquid price prediction
Sellers attempted to pull Hyperliquid (HYPE) lower on Thursday, but the long tail on the candlestick shows buying by the bulls.
HYPE/USDT daily chart. Source: Cointelegraph/TradingView The HYPE/USDT pair could reach the 20-day EMA ($31.91), which is a critical level to watch out for. If the price turns down sharply from the 20-day EMA, the bears will again attempt to resume the downtrend.
On the contrary, a break above the 20-day EMA signals that the selling pressure is reducing. The Hyperliquid price could then rise to the 50-day SMA ($37.23). A close above the 50-day SMA suggests the corrective phase may be over.
Chainlink price prediction
Chainlink (LINK) has been trading between the moving averages for the past few days, indicating a balance between supply and demand.
LINK/USDT daily chart. Source: Cointelegraph/TradingView The tight range trading is likely to be followed by a range expansion. If the price breaks and closes above the 50-day SMA ($14.71), it signals that the bulls have overpowered the bears. The LINK/USDT pair could then climb to $19.06.
Alternatively, a sharp dip below the 20-day EMA ($13.84) indicates that the bears remain in control. The Chainlink price could then plummet to the solid support at $10.94, where the buyers are expected to step in.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
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- Bitcoin Tops $94K, ‘Netscape’ Moment For Crypto
Cryptocurrency markets saw another week of downside, as investors eagerly anticipated the year’s last Federal Open Market Committee (FOMC) meeting.
Bitcoin (BTC) rose to a weekly high of $94,330 on Tuesday as investor morale was bolstered by Strategy’s $962 million Bitcoin acquisition, the company’s largest investment since July 2025.
On Wednesday, the US Federal Reserve delivered a widely anticipated 25-basis-point interest rate cut. Crypto markets saw a temporary bounce, as lower rates and cheaper borrowing costs typically increase risk appetite and capital entering risk assets such as crypto.
However, the market’s upside was temporary, as the Fed’s latest interest rate cut was “widely expected and pretty much priced in,” CoinEx exchange’s chief analyst, Jeff Ko, told Cointelegraph.
Despite the lack of investor appetite, fundamental developments such as the increasing number of crypto exchange-traded funds (ETFs) and the improving usability of onchain products are ushering in a potential “Netscape” moment for the crypto industry, analysts told Cointelegraph.
Historic sentiment and price patterns follow Fed rate cuts. Source: Santiment Crypto nears its “Netscape” moment as industry approaches inflection point
The cryptocurrency industry is approaching its “Netscape” moment, as steady progress in blockchain infrastructure and the rise of regulated investment products drive a new wave of institutional adoption, according to Paradigm co-founder Matt Huang.
The crypto sector is “facing its ‘Netscape’ or ‘iPhone’ moment,” Huang wrote Sunday in a post on X. “It’s working bigger than ever before, far beyond our wildest dreams. Both the institutional parts and the cypherpunk parts.”
Netscape launched the first easy-to-use web browser for mainstream users in 1994 before going public with a successful initial public offering (IPO) in August 1995, marking the first building block that triggered the internet’s mass adoption.
However, Microsoft saw the large-scale interest and capitalized on it on it by freely bundling Internet Explorer as a pre-installed component of the Windows operating system, outcompeting Netscape to become the most widely used internet browser.
Source: Matt Huang Bubblemaps challenges PEPE’s fair launch, alleges 30% of genesis supply bundled
Blockchain data is casting doubt on the “for the people” launch narrative of memecoin Pepe, with new analysis suggesting that almost a third of the initial supply was held by a single entity and contributed to heavy early selling pressure.
About 30% of the Pepe (PEPE) token supply was bundled at launch in April 2023, blockchain data visualization platform Bubblemaps claimed on Wednesday in a post on X, adding that investors were “lied to.”
The same wallet cluster sold $2 million worth of PEPE tokens the day after launch, adding significant sell pressure that stopped the token from surpassing the $12 billion milestone, according to Bubblemaps.
That concentration of the genesis supply contrasts with Pepe’s original branding as a “coin for the people.” The project’s website said the token launched “in stealth” with no presale allocations.
Source: Bubblemaps “Elite” traders hunt dopamine-seeking retail on prediction markets: 10x Research
Prediction markets are emerging as a new battleground in the crypto economy, where the best-informed traders are competing against casual retail bettors for profits.
Most users are behaving more like sports bettors than disciplined traders, according to a Tuesday report from research firm 10x Research, which said they are trading “dopamine and narrative for discipline and edge.” It added: “Accuracy and profit are driven not by the crowd, but by a tiny, informed elite who price probability, hedge exposure, and extract premium from retail-driven longshots.”
The rising liquidity and retail participation are incentivizing professional trading desks to increase their prediction market activity and capture the spread and “misinformation asymmetry” arising from this market structure, 10x said.
Polymarket active users, weekly, Bitcoin left-hand-side price, year-to-date chart. Source: 10x Research The report is a concerning sign for casual traders looking to make easy money on prediction markets, as blockchain data suggests that most users lose their initial investment.
Polymarket, positive/negative wallet balances. Source: Dune.com Only about 16.7% of wallets on Polymarket are in profit, while the remaining 83% have incurred losses, according to blockchain data from Dune.
Coinbase opens Solana DEX access as CeFi and DeFi converge
Coinbase is moving deeper into the Solana ecosystem, letting users trade native Solana tokens through a decentralized exchange integration rather than traditional listings.
Andrew Allen, Coinbase protocol specialist, said in an X post that Coinbase now allows its users to trade all Solana (SOL) tokens through a decentralized exchange (DEX) integration, “without listings,” he noted, adding that “very soon you will be able to open the Coinbase app and see native Solana assets on Coinbase.”
“For issuers and builders, if your token has sufficient liquidity, this means you can be accessible to the millions of users on Coinbase without getting listed,” Allen said.
The announcement follows Coinbase’s integration of tokens from its Base blockchain through a similar DEX integration in early August. The announcement noted that the exchange planned to “expand DEX support to include additional networks, starting with Solana.”
Source: Andrew Allen/Solana Mantra CEO tells OM holders to withdraw from OKX over “inaccurate” migration plan
Tensions between blockchain platform Mantra and crypto exchange OKX are rising after Mantra accused the exchange of posting incorrect information about its token migration.
In a Monday X post, Mantra CEO John Patrick Mullin urged users of centralized cryptocurrency exchange (CEX) OKX to withdraw their Mantra (OM) tokens and cut their “dependency” on the platform.
“Users should consider withdrawing their OM tokens from OKX[…]. Avoid OKX Exchange Dependency: Complete migration without relying on potentially negligent or malicious intermediaries,” said Mullin.
His warning came in response to a Friday announcement from OKX about supporting the incoming OM token migration.
Source: JP Mullin According to Mullin, the OKX post contained multiple inaccuracies, including false migration and implementation dates.
OKX said the migration would occur between Dec. 22 and Dec. 25. Mantra’s governance proposal, by contrast, states that the migration will only take place after the Jan. 15 deprecation of the Ethereum-based ERC-20 OM token.
Mullin also said OKX’s post referenced “arbitrary dates throughout December 2025,” while Mantra has not yet announced an official implementation date.
He claimed OKX had not communicated with Mantra since “the events” of April 13, while Mantra has “helpfully [been] communicating with all other major exchanges regarding our migration.”
OKX’s OM Crypto Migration post. Source: okx.com During the forthcoming migration, the OM token will migrate from an Ethereum-native ERC-20 token to a Mantra Chain-native token.
Cointelegraph has contacted OKX for comment, but had not received a response by publication time.
OKX has since reached out to Mantra and corrected the inaccuracies in the announcement, the exchange wrote in a Wednesday X post
DeFi market overview
According to data from Cointelegraph Markets Pro and TradingView, most of the 100 largest cryptocurrencies by market capitalization ended the week in the red.
The Kaspa (KAS) token fell over 13%, marking the biggest decline in the top 100, followed by the Story (IP) token, also down 13% during the past week.
Total value locked in DeFi. Source: DefiLlama Thanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights and education regarding this dynamically advancing space.
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- Pyth to Launch Reserve Using Buybacks from DAO Treasury Funds
The Pyth Network, a blockchain oracle provider, said it will convert a portion of its revenue into PYTH token purchases as part of a reserve strategy.
In a Friday blog post, Pyth said the tokens it buys on the open market with one-third of the protocol’s revenue through its decentralized autonomous organization (DAO) would constitute the network’s reserve. The network said the strategy was designed to increase revenue and token purchases.
“[I]t’s time to rewrite the market data economy on a global level,” said Pyth.
Source: Pyth The price of the Pyth Network token (PYTH) has dropped by more than 80% over the past year, despite a brief surge when the platform deepened ties to the US government. The Trump administration announced in August that the company and Chainlink would be responsible for publishing the country’s economic data onchain.
According to data from Nansen, the PYTH price decreased by about 1.3% over the previous 24 hours, reaching about $0.063 at the time of publication.
Related: Grayscale launches Pyth investment fund
Aave DAO proposed a similar buyback initiative in October
The DAO behind the Aave protocol introduced a proposal that would use $50 million of its annual revenue to repurchase its native token, Aave (AAVE). As of Friday, it did not appear that the proposal had been approved.
It’s unclear how Pyth users may respond to the plan. In 2024, when Mango Markets suggested a buyback program to purchase its MNGO tokens, co-founder Daffy Durairaj accused the creators of “untrustworthy behavior and self-dealing.”
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- Coinbase to soon unveil prediction markets powered by Kalshi, source says
Feature China | Future Publishing | Getty Images
Coinbase is gearing up to launch an in-house prediction market, powered by Kalshi, a source close to the matter told CNBC — a strategic play to expand the number of asset classes available on the cryptocurrency exchange at a time some investors are shying away from digital assets.
The source said Coinbase and Kalshi will “soon” formally announce the prediction market, with news on the matter potentially coming as early as next week.
Rumblings of the prediction market launch have swirled for nearly a month. An alleged screenshot of Coinbase’s prediction markets dashboard shared by Silicon Valley researcher Jane Manchun Wong in an X post dated Nov. 18 offered some clues about the new product.
The Information first reported on Nov. 19 that Coinbase planned to launch prediction markets powered by Kalshi, adding that the exchange would unveil the new product at its “Coinbase System Update” event on Dec. 17. Bloomberg published a similar report on Thursday, citing a source familiar with the matter, adding that Coinbase would also announce a tokenized stock offering at the showcase.
Coinbase declined to confirm the reports to CNBC, but said to tune into its event next week. The firm did not comment on a timeline for when its prediction markets would go live for its users.
Coinbase’s upcoming product launches underscore its push to refashion itself into an “everything exchange,” or a one-stop shop for trading all kinds of assets, including crypto tokens, tokenized stocks and event contracts. In May, CEO Brian Armstrong articulated that “everything exchange” vision to investors, saying Coinbase would aim to become a top financial services app within the next decade.
The trading platform is setting its sights on that goal as it faces intensifying competition from rivals such as Robinhood, Gemini and Kraken. All three have launched tokenized equity offerings to users outside of the U.S. within the past year, in addition to exploring prediction markets to varying extents.
Coinbase’s moves to expand the financial instruments available to its users also come as investor sentiment on digital assets cools. A series of liquidations of highly leveraged digital asset positions in mid-October triggered several pullbacks in the crypto market, prompting investors to rotate out of tokens and into gold and other safe-have assets.
Bitcoin fell as low as around $85,000 in early December, hitting its lowest level since last March. The token was last trading at $89,951, down 23% in the past three months. Coinbase has also fallen more than 16% over the past three months.
The deal also underscores U.S.-based prediction markets operator Kalshi’s push to embed its event contracts into various brokerages, widening its reach as the prediction markets space becomes increasingly competitive.
This year, Kalshi embedded several of its prediction markets into trading platform Robinhood, as part of a non-exclusive partnership between the companies. Kalshi has also engaged in talks with several other major brokerages, including those in the crypto industry, with the aim of closing more deals like the ones it has struck Robinhood and now Coinbase, a source familiar with the matter told CNBC.
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- Tether Considers Tokenizing Investor Stake
Tether, the stablecoin company that issues the USDt (USDT) dollar-pegged token, is considering tokenizing investor equity and share buybacks to offer liquidity for investors as it seeks a $500 billion valuation.
Bloomberg reported on Friday, citing a source familiar with the matter, that Tether recently stopped an existing shareholder from selling their stake as the company is in talks to raise $20 billion for a 3% stake in the stablecoin’s issuer business.
The investor sought to sell a $1 billion stake that valued Tether at $280 billion, Bloomberg reported. In response, Tether plans to offer investor liquidity through tokenization or share buybacks after the funding round closes.
Cointelegraph reached out to Tether but had not received a response by the time of publication.
Tokenizing a company’s equity can increase liquidity by making shares easier to transfer, fractionalize and borrow against. Onchain equity allows holders to maintain their positions while using a tokenized representation of their equity as collateral in decentralized finance (DeFi) applications.
The differences between tokenized equity and shares issued through the traditional financial system. Source: Cointelegraph Related: Tether solvency fears are ‘misplaced’ as company sits on large surplus: CoinShares
Tokenized finance is gaining steam as US regulators move to overhaul legacy financial tech
On Thursday, the US Securities and Exchange Commission (SEC) gave the green light to the Depository Trust and Clearing Corporation (DTCC), a clearinghouse and settlement company, to tokenize stocks, exchange-traded funds and bonds.
“US financial markets are poised to move onchain,” SEC Chair Paul Atkins said on Thursday, adding, “Onchain markets will bring greater predictability, transparency, and efficiency for investors.”
Source: Paul Atkins Financial services company J.P. Morgan facilitated a $50 million tokenized bond issue for crypto investment company Galaxy Digital Holdings on the same day as Atkins’ announcement.
Crypto exchanges are also looking to expand trading of tokenized products, following the SEC’s nod to the DTCC and Atkins’ comments.
Coinbase, a US-based cryptocurrency exchange, is expected to announce its expansion into tokenized stocks and prediction markets as early as Wednesday.
The company told Cointelegraph that it will host a livestream to showcase new products, but did not specify which products would be unveiled.
Tokenized public stocks are still in the early stages of adoption, with nearly $700 million in public equities tokenized at the time of this writing, according to RWA.xyz data.
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Source link - New MIT program to train military leaders for the AI age | MIT News
Artificial intelligence can enhance decision-making and enable action with reduced risk and greater precision, making it a critical tool for national security. A new program offered jointly by the MIT departments of Mechanical Engineering (Course 2, MechE) and Electrical Engineering and Computer Science (Course 6, EECS) will provide breadth and depth in technical studies for naval officers, as well as a path for non-naval officers studying at MIT, to grow in their understanding of applied AI for naval and military applications.
“The potential for artificial intelligence is just starting to be fully realized. It’s a tool that dramatically improves speed, efficiency, and decision-making with countless applications,” says Commander Christopher MacLean, MIT associate professor of the practice in mechanical engineering, naval construction, and engineering. “AI is a force multiplier that can be used for data processing, decision support, unmanned and autonomous systems, cyber defense, logistics and supply chains, energy management, and many other fields.”
The program, called “2N6: Applied Artificial Intelligence Program for Naval Officers,” comprises a two-year master of science degree in mechanical engineering with an accompanying AI certificate awarded by the MIT Schwarzman College of Computing.
“The officers entering this program will learn from the world’s experts, and conduct cutting-edge relevant research, and will exit the program best prepared for their roles as leaders across the U.S. naval enterprise,” says MacLean.
The 2N6 curriculum is application focused, and the content is built to satisfy the U.S. Navy’s sub-specialty code for Applied Artificial Intelligence. Students will learn core AI concepts, as well as applications to special topics, such as decision-making for computational exercises; AI for manufacturing and design, with special emphasis on navy applications; and AI for marine autonomy of surface and underwater vehicles.
“The expanding influence of artificial intelligence is redefining our approach to problem-solving. AI holds the potential to address some of the most pressing issues in nearly every field,” says Dan Huttenlocher, dean of the MIT Schwarzman College of Computing and Henry Ellis Warren Professor of Electrical Engineering and Computer Science. “I’m honored that the college can contribute to and support such a vital program that will equip our nation’s naval officers with the technical expertise they need for mission-relevant challenges.”
MIT has been a leading center of ship research and design for over a century, with work at the Institute today representing significant advancements in fluid mechanics and hydrodynamics, acoustics, offshore mechanics, marine robotics and sensors, and ocean sensing and forecasting. The 2N program will celebrate its 125th year at MIT in 2026.
“In MechE, we are embracing the use of AI to explore new frontiers in research and education, with deep grounding in the fundamentals, design, and scaling of physical systems,” says John Hart, the Class of 1922 Professor and head of MechE. “With the 2N6 program, we’re proud to be at the helm of such an important charge in training the next generation of leaders for the Navy.”
“Breakthroughs in artificial intelligence are reshaping society and advancing human decision-making and creativity,” says Asu Ozdaglar, deputy dean of the MIT Schwarzman College of Computing, head of EECS, and MathWorks Professor. “We are delighted to partner with the Department of Mechanical Engineering in launching this important collaboration with the U.S. Navy. The program will explore not only the forefront of AI advances, but also its effective application in Navy operations.”
2N6 was created following a visit to campus from Admiral Samuel Paparo, commander of the U.S. Indo-Pacific Command, with MIT Provost Anantha Chandrakasan, who was then dean of engineering and chief innovation and strategy officer.
“[Admiral Paparo] was given an overview of some of the cutting-edge work and research that MIT has done and is doing in the field of AI, [and was introduced to the 2N program],” says MacLean. “The admiral made the connection, envisioning an applied AI program similar to 2N.”
2N6 will run as a pilot program for at least two years. The program’s first cohort will comprise only U.S. Navy officers, with plans to expand more broadly.
“We are thrilled to build on the long-standing relationship between MIT and the U.S. Navy with this new program,” says Themis Sapsis, William I. Koch Professor in mechanical engineering and the director of the Center for Ocean Engineering at MIT. “It is specifically designed to train naval officers on the fundamentals and applications of AI, but also involve them in research that has direct impact to the Navy. We believe that 2N6 can model a new paradigm for advanced AI education focused more broadly on supporting national security.”
Source link - Broadcom tumbles 10% after earnings as AI trade sells off
Broadcom CEO Hock Tan.
Lucas Jackson | Reuters
Broadcom’s quarterly results and guidance sailed past Wall Street estimates. It didn’t matter.
The chipmaker’s shares plummeted 11% on Friday, on pace for their worst day since January, as investors ran for the exits on the artificial intelligence trade. Oracle dropped 4% a day after plunging 10% following its earnings report.
AI has been the driver for the stock market and the broader economy this year, so any negative sentiment has potentially far-reaching consequences. The Nasdaq on Friday fell about 1.4%, and the S&P 500 declined declined by nearly 1%.
The companies getting hit the hardest are the ones most closely tied to AI infrastructure, which has been booming as hyperscalers build out their data centers to try and meet what they describe as insatiable demand for compute-intensive AI services. Broadcom makes custom chips for many of the the largest tech companies, and saw its market cap about double each of the past two years before rallying again in 2025.
“This stock is up 75-80% year to date. You’re seeing a little bit of a pullback,” Vijay Rakesh, an analyst at Mizuho, told CNBC’s “Squawk on the Street” on Friday. “We would be buyers on this pullback.”
Mizuho raised its price target on the stock to $450 from $435. It was trading below $364 as of Friday afternoon.
“This is still where the growth is,” Rakesh said. “They are still the big supplier to Google on their entire hardware stack, to Meta, to Anthropic and even OpenAI coming down the road.”
Broadcom reported revenue growth of 28% during the quarter, largely due to a 74% increase in AI chip sales, to a total of $18.02 billion, topping the $17.49 billion average analyst estimate, according to LSEG. Adjusted earnings per share of $1.95 adjusted topped the $1.86 average estimate.
CEO Hock Tan said Broadcom expects AI chip sales this quarter to double from a year earlier to $8.2 billion, both from custom AI chips as well as semiconductors for AI networking.
One concern among investors is that margins are coming down, at least in the short term, due to higher upfront costs. CFO Kirsten Spears said on the earnings call that “gross margins will be lower” for some of Broadcom’s AI chip systems because the company will have to buy more parts to produce the server racks.
Broadcom also said it had a $73 billion backlog of AI orders over the next 18 months. Part of that is from $21 billion of orders from Anthropic, which the company revealed as a key customer on Thursday.
While OpenAI has been a highly touted customer following a multibillion-dollar agreement announced in October, Tan doused some hope for the deal, telling investors late Thursday that, “We do not expect much in ’26.”
Bernstein analyst Stacy Rasgon said in a note on Friday that “AI angst” was driving Broadcom’s shares lower.
“Frankly we aren’t sure what else one could desire as the company’s AI story continues to not only overdeliver but is doing it at an accelerating rate,” Rasgon, who recommends buying the stock and raised his price target, wrote in the note.
Oracle has been facing more extreme skepticism. The stock is now down more than 40% from its record reached in September. The company beat on earnings but missed on revenue in its report on Wednesday, and investors were disappointed they didn’t get more detail on how Oracle will finance its massive buildout that so far has required mounds of debt.
CoreWeave, which is investing in data centers to offer cloud-based AI services, sank 9% on Friday and has lost more than half its value since peaking in June.
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- Red hot Texas gets so many data center requests that some see a bubble
Everything is bigger in Texas. That’s also true for data center demand in the Lone Star State, where project developers are rushing to cash in on the artificial intelligence boom.
Cheap land and cheap energy are combining to attract a flood of data center developers to Texas. The potential demand is so vast that it will be impossible to meet by the end of the decade, energy experts say.
Speculative projects are clogging up the pipeline to connect to the electric grid, making it difficult to see how much demand will actually materialize, they say. But investors will be left on the hook if inflated demand forecasts lead to more infrastructure being built than is actually needed.
“It definitely looks, smells, feels — is acting like a bubble,” said Joshua Rhodes, a research scientist at the University of Texas at Austin and a founder of energy consulting firm IdeaSmiths.
“The top line numbers are almost laughable,” Rhodes said.
More than 220 gigawatts of big projects have asked to connect to the Texas electric grid by 2030, according to December data from the Electric Reliability Council of Texas. More than 70% of those projects are data centers, according to ERCOT, which manages the Texas power grid.
That’s more than twice the Lone Star State’s record peak summer demand this year of around 85 gigawatts, and its total available power generation for the season of around 103 gigawatts. Those figures are “crazy big,” said Beth Garza, a former ERCOT watchdog.
“There’s not enough stuff to serve that much load on the equipment side or the consumption side,” said Garza, director of ERCOT’s independent market monitor from 2014 to 2019.
Rhodes agrees. “There’s just no way we can physically put this much steel in the ground to match those numbers. I don’t even know if China could do it that fast,” he said.
‘Not all real’
Data center requests have exploded in Texas since state legislation in 2023 required projects that have not signed electric connection agreements to be considered in power demand forecasts.
The number of big projects requesting an electric connection has nearly quadrupled this year. But more than half of them, representing about 128 gigawatts of increased potential demand, have not submitted studies for ERCOT to review yet. About another 90 gigawatts are either under review or have had planning studies approved.
“We know it’s not all real. The question is how much is real,” said Michael Hogan, a senior advisor at the Regulatory Assistance Project, which advises governments and regulators on energy policy.
The huge numbers in Texas reflect a broader data center bubble in the U.S., said Hogan, who has worked in the electric industry for more than four decades, starting at General Elect in 1980.
“As with everything else in Texas, it’s an outsized example of it,” he said.
The number of projects that have actually connected to the grid or have been approved by ERCOT is much smaller, at only around 7.5 gigawatts. It is still a large number, equivalent to nearly eight large nuclear plants. But Texas can meet that level of demand, Rhodes said.
“We could comfortably grow eight gigawatts of data centers,” Rhodes said. Texas might be able to meet 20 gigawatts or 30 gigawatts of data center demand by 2030, he said.
Texas has acted to separate serious data center projects from those that are merely speculative. A law passed in May requires developers to pay $100,000 for the initial study of their project, and show that a site is secured through an ownership interest or lease. And they have to disclose whether they have outlined the same project anywhere else in Texas.
The Texas Public Utility Commission has proposed a rule that would require data centers to pay $50,000 security per megawatt of peak power. The cost to developer would total at least $50 million for a gigawatt scale data center.
“The serious developers with long-term contracts signed with anchor tenants, they’re going to be willing to put that money down,” Rhodes said. More speculative developers will likely drop out of the line for an electric connection, which will help authorities get a more accurate forecast, he said.
Risk to investors
The risk is that electric infrastructure such as power plants, transmission lines and transformers will be built for speculative data centers that either do not materialize or use less electricity than anticipated, Rhodes said. And overbuilding would come at time when the cost of that infrastructure has soared as data centers and other industries all compete for the same scarce equipment, he said.
“When the bubble bursts, who pays is going to depend on how much steel has been moved,” Rhodes said. The cost of a natural gas plant, for example, has more than doubled over the past five years, he said.
“It’s kind of like buying your house at the top of the market,” the analyst said. “If the house price goes down in five years, you’re out of luck.”
The cost of building new power plants to serve the Texas electric market is generally borne by investors, Rhodes and Hogan said, providing some protection to households from higher electricity prices if too much capacity is built.
By contrast, electric prices have spiked in some Midwestern and Mid-Atlantic states from data center demand because the grid operator, PJM Interconnection, buys power generation years in advance — with the burden falling on consumers.
In Illinois, where the northern part of the state is served by PJM, residential electricity prices rose about 20% in September compared to the same month last year. But prices in Texas increased just 5% year over year, below the average national increase of more than 7%, according to data from the Energy Information Administration.
Texas has less risk of building too much generation compared to PJM states because of the way the market is structured, Hogan said. But “whatever [new] build we do end up seeing in Texas, the people who ended up investing in the excess capacity are the ones that are going to suffer,” he said.
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- Figure Targets Solana for Onchain Equity With Second IPO Filing
Figure Technology, a blockchain-based financial services company focused on tokenized assets and lending, has filed for a second public offering aimed at issuing native equity directly on a public blockchain. The move, which follows the company’s recent Nasdaq listing, is designed to expand decentralized finance (DeFi) use cases on Solana.
Speaking at the Solana Breakpoint conference, Figure executive chairman Mike Cagney said the company has submitted a filing with the US Securities and Exchange Commission (SEC) to launch what he described as “a new version of Figure equity on a public blockchain,” specifically Solana.
Cagney said the blockchain-native equity would not trade on traditional exchanges such as Nasdaq or the New York Stock Exchange, nor would it rely on introducing brokers like Robinhood or prime brokers such as Goldman Sachs.
Source: Solana Instead, the security would be issued and traded natively onchain via Figure’s alternative trading system, which he characterized as “effectively a decentralized exchange.”
By issuing equity directly on Solana, investors would be able to take the tokenized security into DeFi protocols, where it could be borrowed against or lent out, Cagney said.
He added that the company’s broader goal extends beyond tokenizing its own shares, with plans to support native equity issuance for other companies directly within the Solana ecosystem:
“One of the focus points that we have is not only bringing that equity over to the Solana ecosystem but allowing for native Solana equity issuance as well.”
Related: Figure Technology boosts IPO size, total deal could reach $800M
Tokenization on Solana is gaining momentum
Already one of the largest public blockchains by activity, Solana is increasingly emerging as a hub for tokenized assets, with its share of the real-world asset (RWA) market expanding steadily over the past year.
While Ethereum continues to dominate tokenization today, Solana is likely to become the financial industry’s preferred network for stablecoins and tokenized assets over time, according to Matt Hougan, chief investment officer at Bitwise.
As Wall Street evaluates the long-term viability of tokenized assets, attention is expected to shift toward blockchains that offer high speed, throughput and fast transaction finality, areas where Solana holds a competitive advantage over many rival networks, Hougan said.
Research from RedStone identified Solana as a “high-performance challenger” in the RWA space, particularly in tokenized US Treasury markets.
Solana’s RWA metrics, excluding stablecoins. Source: RWA.xyz Related: Scaramucci predicts ‘exponential opportunity’ for crypto at LONGITUDE
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- Trade Unions Increasingly at Odds with Crypto in Retirement Accounts
A growing rift has emerged in Washington, D.C., between the cryptocurrency industry and labor unions as lawmakers debate whether to ease rules allowing cryptocurrencies in 401(k) retirement accounts.
The dispute centers on proposed market structure legislation that would allow retirement accounts to gain exposure to crypto, a move labor groups say could expose workers to speculative risk. In a letter sent on Wednesday to the US Senate Banking Committee, the American Federation of Teachers argued that cryptocurrencies are too volatile for pension and retirement savings, warning that workers could face significant losses.
The letter drew immediate pushback from crypto investors and industry figures. “The American Federation of Teachers has somehow developed the most logically incoherent, least educated take one could possibly author on the matter of crypto market structure regulation,” a crypto investor said on X.
The AFT letter to Congress opposes regulatory changes that would allow 401(k) retirement accounts to hold alternative assets, including cryptocurrency. Source: CNBC In response to the letter, Castle Island Ventures partner Sean Judge said the bill would improve oversight and reduce systemic risk, while enabling pension funds to access an asset class that has delivered strong long-term returns.
Consensys attorney Bill Hughes said the AFT’s opposition to the crypto market structure bill was politically motivated, accusing the group of acting as an extension of Democratic lawmakers.
Funds held in US retirement accounts by type of account plan. Source: ICI Related: Atkins says SEC has ‘enough authority’ to drive crypto rules forward in 2026
Opposition to crypto in retirement and pension funds mounts
Proponents of allowing crypto in retirement portfolios, on the other hand, argue that it democratizes finance, while trade unions have voiced strong opposition to relaxing current regulations, claiming that crypto is too risky for traditional retirement plans.
“Unregulated, risky currencies and investments are not where we should put pensions and retirement savings. The wild, wild west is not what we need, whether it’s crypto, AI, or social media,” AFT president Randi Weingarten said on Thursday.
The AFT represents 1.8 million teachers and educational professionals in the US and is one of the largest teachers’ unions in the country.
According to Better Markets, a nonprofit and nonpartisan advocacy organization, cryptocurrencies are too volatile for traditional retirement portfolios, and their high volatility can create time-horizon mismatches for pension investors seeking a predictable, low-volatility retirement plan.
Bitcoin and Ether volatility compared to other asset classes and stock indexes. Source: US Federal Reserve In October, the American Federation of Labor and Congress of Industrial Organizations (AFL-CIO) also wrote to Congress opposing provisions within the crypto market structure regulatory bill.
The AFL-CIO, the largest federation of trade unions in the US, wrote that cryptocurrencies are volatile and pose a systemic risk to pension funds and the broader financial system.
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- Paxos, Fidelity, Ripple, BitGo and Cirlce Secure OCC Approval for Charters
The US Office of the Comptroller of the Currency has conditionally approved five national bank charter applications for companies tied to the digital assets industry.
In a Friday notice, the OCC said it had conditionally approved BitGo, Fidelity, and Paxos to convert their existing state-level trust companies into federally chartered national trust banks. In the same announcement, the regulator said it had conditionally approved new applications from Circle and Ripple for national trust bank charters.
“New entrants into the federal banking sector are good for consumers, the banking industry and the economy,” said Jonathan Gould, the Comptroller of the Currency, adding: “The OCC will continue to provide a path for both traditional and innovative approaches to financial services to ensure the federal banking system keeps pace with the evolution of finance and supports a modern economy.”
Magazine: When privacy and AML laws conflict: Crypto projects’ impossible choice
This is a developing story, and further information will be added as it becomes available.
Source link - ADAM Robot Bartender Makes Drinks at Vegas Golden Knights Game
In Las Vegas’s T-Mobile Arena, fans of the Golden Knights are getting more than just hockey — they’re getting a taste of the future. ADAM, a robot developed with NVIDIA Isaac libraries, is pouring drinks and turning heads in one of the NHL’s most exciting venues.
ADAM, short for Automated Dual Arm Mixologist, was developed by Las-Vegas based Richtech Robotics. It’s not just a novelty — it’s a solution to real-world challenges in hospitality: labor shortages and demands for unique customer experiences.
“The hospitality industry faces significant labor challenges, and ADAM is our answer to meeting those needs while elevating the customer experience,” said Matt Casella, president of Richtech Robotics. “With NVIDIA’s Isaac platform, we’ve developed a solution that’s scalable, consistent, and frankly, creates memorable moments for fans. The response at T-Mobile Arena has been phenomenal—people love interacting with ADAM.”
Learning to Serve Drinks in Simulation
Before ADAM ever poured a drink, it trained in a virtual bar. Richtech used NVIDIA Isaac Sim, an open-source, reference robotic simulation framework built on NVIDIA Omniverse, to build a high-fidelity and physically accurate simulation of ADAM’s workstation, complete with cups, utensils and lighting variations. The team generated synthetic data to teach ADAM how to recognize objects even in tricky conditions like glare or reflection.
ADAM’s skills such as pouring and shaking were refined in simulation using Isaac Lab, NVIDIA’s open source robot learning framework. The result: a robot that doesn’t just follow instructions — it adapts to its environment with precision.
Running Real-Time AI at the Edge With Jetson
ADAM runs on NVIDIA Jetson AGX Orin, the powerful edge AI platform capable of 275 TOPS of compute. Using Isaac ROS 2 libraries, ADAM captures camera feeds, detects objects and calibrates the workspace in real time. ADAM’s perception stack — built with TAO Toolkit and optimized with TensorRT — enables it to identify cups, measure liquid levels and adjust movements with less than 40 milliseconds of latency.
That means ADAM can spot a misplaced cup, detect when foam reaches the rim and correct a pour — all without missing a beat.
Creating Industrial Dexterity With NVIDIA Thor
While ADAM is busy serving drinks at Golden Knights games, Richtech Robotics is also making major strides in industrial automation with Dex, a new mobile humanoid robot built for factory and warehouse environments.
Recently unveiled at GTC DC, Dex combines the mobility of an autonomous wheeled platform with the precision of dual-arm dexterity. It’s designed to handle such light-to-medium industrial tasks as machine operation, parts sorting, material handling and packaging — all with the flexibility to take on different tools and workflows.
Dex runs on NVIDIA Jetson Thor, a next-generation robotics processor that gives it the ability to deliver real-time sensor processing and AI reason in dynamic industrial settings.
Dex was trained from a blend of real world and synthetic data generated from Isaac Sim. This allowed Dex’s model to be generalized across a multitude of scenarios.
Learn more about Jetson Thor and about festive Jetson platform holiday prices.
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- ESMA Centralization and MiCA Enforcement Debate
Europe’s crypto regulatory framework is entering a new phase of scrutiny as policymakers weigh whether enforcement of the Markets in Crypto-Assets (MiCA) regulation should remain with national authorities or be centralized under the European Securities and Markets Authority (ESMA).
MiCA, which came largely into force at the beginning of 2025, was designed to create a unified rulebook for crypto-asset service providers across the European Union.
But as implementation progresses, disparities between member states are becoming harder to ignore. Some regulators have approved dozens of licenses, while others have issued only a handful, prompting concerns about inconsistent supervision and regulatory arbitrage.
In this week’s episode of Byte-Sized Insight, Cointelegraph explored what those growing pains mean for Europe’s crypto market with Lewin Boehnke, chief strategy officer at Crypto Finance Group — a Switzerland-based digital asset firm with operations across the EU.
Uneven enforcement fuels calls for oversight
According to Boehnke, the core challenge facing Europe isn’t the MiCA framework itself, but rather how it is being applied differently across jurisdictions.
“There is a very, very uneven application of the regulation,” he said, pointing to stark contrasts between member states. Germany, for example, has already granted around 30 crypto licenses, many to established banks, while Luxembourg has approved just three, all to major, well-known firms.
The ESMA released a peer review of the Malta Financial Services Authority’s authorization of a crypto service provider, finding that the regulator only “partially met expectations.”
Those disparities have helped fuel support among some regulators and policymakers for transferring supervisory powers to ESMA, which would create a more centralized enforcement model similar to the US Securities and Exchange Commission.
Related: Italy sets hard MiCA deadline for crypto platforms to comply
France, Austria and Italy have all signaled support for such a move, particularly amid criticism of more permissive regimes elsewhere in the bloc.
From Boehnke’s perspective, centralization could be less about control and more about efficiency.
“From just purely the practical point of view, I think it would be a good idea to have a unified… application of the regulation,” he said, adding that direct engagement with the ESMA could reduce delays caused by back-and-forth between national authorities.
MiCA’s design praised, but technical questions remain
Despite criticism from some corners of the crypto industry, Boehnke said MiCA’s overarching structure is sound, particularly its focus on regulating intermediaries rather than peer-to-peer activity.
“I do like MiCA regulation… the overarching approach of regulating not necessarily the assets, not the peer-to-peer use, but the custodians and the ones that offer services… that is the right approach.”
However, he also noted that unresolved technical questions are slowing adoption, especially for banks. One example is MiCA’s requirement that custodians be able to return client assets “immediately,” a phrase that remains open to interpretation.
“Does that mean withdrawal of the crypto? Or is it good enough to sell the crypto and withdraw the fiat immediately?” Boehnke asked, noting that such ambiguities are still being worked through and are awaiting clarity from ESMA.
To hear the complete conversation on Byte-Sized Insight, listen to the full episode on Cointelegraph’s Podcasts page, Apple Podcasts or Spotify. And don’t forget to check out Cointelegraph’s full lineup of other shows!
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- Bitcoin Price Dip Was ‘Not Organic,’ Trader Says
Bitcoin (BTC) battled stubborn horizontal resistance Friday with $94,000 next on bulls’ radar.
Key points:
Bitcoin keeps up pressure on familiar resistance levels as optimism over market strength increases.
The recent pullback was the result of “manipulative” forces, analysis says.
Gold on the way to new all-time highs is an “extremely bearish” macro headwind for Bitcoin.
BTC price: Days or weeks until “upwards breakout”
Data from Cointelegraph Markets Pro and TradingView showed wavering BTC price action after a trip to $95,500 the day prior.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
Up against several resistance features on the daily chart, BTC/USD coiled for what some said should be a breakout move.“Bitcoin is doing the choppy dance. Illiquid books, and therefore fast moves up and down for the position on $BTC,” crypto trader, analyst and entrepreneur Michaël van de Poppe wrote in his latest analysis on X.
“Nonetheless, I think that we’re still in for a new upwards breakout in the coming days/weeks.”
BTC/USDT four-hour chart with RSI, volume data. Source: Michaël van de Poppe/X
Upside moves failed to result in resistance flips in December, and trader Daan Crypto Trades added the 200-period simple and exponential moving averages on the four-hour chart to the list of hurdles to clear.“Consolidating against its 4H 200MA/EMA & The ~$94K horizontal resistance which acted as range high for the past couple of weeks,” he summarized.
“This is the key area to break for bitcoin to flip the momentum around in favor of the bulls in the short to mid term.”
BTC/USD four-hour chart. Source: Daan Crypto Trades/X
Despite the relative inertia, Van de Poppe argued that there was less chance of a deeper market pullback next.“Higher lows indicate a higher structure and therefore an uptrend is being established. Price clearly doesn’t break down anymore, and my general thesis is that the recent, heavy correction was highly manipulative and not organic,” he added.
Gold steams toward new recordsAs the dust settled on the Federal Reserve interest-rate decision, US stocks joined crypto in losing some of their recent gains after the Wall Street open.
Related: Bitcoin new year bear flag sparks $76K BTC price target next
The S&P 500 had been within 20 points of new all-time highs, but lost 0.35% on the day, while gold headed toward $4,400 per ounce.
“Gold is on the brink of a new record high,” trading resource The Kobeissi Letter announced, noting gold futures’ 65% year-to-date returns.
XAU/USD one-day chart. Source: Cointelegraph/TradingView
At the December monthly open, Bitcoin reached its lowest levels against gold since early 2024.
BTC/USD one-week chart. Source: Cointelegraph/TradingView
Commenting, Jeremy Batchelder, co-founder of crypto automation platform Glyde, warned that strong precious metal performance would cloud the outlook for crypto.“Gold is about to hit new ATHs. Silver is making new highs every single day,” he told X followers on the day.
“This is extremely bearish for Bitcoin. We need the metals to calm down before the crypto bull run can begin.”
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
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- Investors all-in on Mag 7 stocks face weighty market decision in 2026
Investors are facing a period of historically high concentration in the S&P 500 Index headed into 2026, with a small number of mega-cap technology and AI-related companies dominating the index’s performance and risk.
That’s leading more investment managers to advise clients as part of an annual portfolio review process to pay extra attention to opportunities to broaden holdings within the U.S. market, and across both value and overseas stocks.
“The big theme for us is making sure we have resiliency built into the portfolio and the way we are going about that is diversification,” Kathmere Capital CIO Nick Ruder said on CNBC’s “ETF Edge” on Monday.
He expressed concern that investors remain too concentrated in the “Magnificent 7″ stocks, which currently make up about 35% of the U.S. large-cap stock market index.
“It has been an awesome run for these companies, but let’s just make sure the portfolios are sufficiently diversified outside the mega-cap growth segment, also outside of U.S. equity companies,” Ruder said.
He’s not alone in advising investors to diversify away from the Mag 7.
Ed Yardeni, Yardeni Research president, said investors should be underweight the Mag 7, but overweight the “Impressive 493” during a “Squawk Box” interview earlier this week.
He was referring to the remaining 493 S&P 500 stocks.
Stock Chart Icon Stock chart icon
Magnificent Seven stocks year to date versus the Vanguard Value Index ETF.
During the “ETF Edge” podcast portion of Monday’s show, Ruder pointed to the many equal-weight S&P 500 ETFs as a good way to stay invested in the U.S. market but reduce the top holdings’ concentration risk.
The Goldman Sachs Equal Weight U.S. Large Cap Equity ETF (GSEW) is one example. The fund has attracted $397 million in flows since the beginning of the year, according to ETF.com. Though to put that into perspective, the market-weighted Vanguard S&P 500 ETF (VOO) has taken in an estimated $120 billion this year from investors.
Ruder said 2025 has been the rare year when both momentum stocks and value stocks have done very well, but he believes that over the longer-term, owning value stocks is the more important factor as stock prices experience reversion to the mean, and there is still considerable room for value stocks to appreciate, he said.
Within the U.S. large-cap space, another option to consider for diversification is a value fund, Ruder said, such as the Vanguard Value ETF (VTV).
“I don’t want to take a sector bet, but I just want to own the cheaper stocks within each sector,” he said.
But Ruder stressed that investors with a domestic bias should also be aware they have missed out on huge gains from value stocks overseas this year.
“Non-U.S. value is up [around] 40% this year,” he said.
The iShares MSCI Intl Value Factor ETF (IVLU) was up close to 44% year-to-date, through Thursday.
Ruder believes even with those gains, many value stocks remain underpriced. “The discounts on value stocks are pretty significant relative to history,” he said. “It’s axiomatic value is cheaper than the market, but sometimes it’s even more than normal, and we are at one of those times,” he added.
Source link - S&P 500, Nasdaq opens lower as Broadcom adds to AI bubble angst
- FAA to review Boeing cockpit alerting system for MAX 10
- Ripple Payments Takes on Europe with Swiss Bank Amina
The payments subsidiary of blockchain services company Ripple has partnered with Swiss bank Amina to provide it with access to its payment infrastructure.
According to a Friday Ripple Payments announcement, the company will allow Amina to “settle transactions more efficiently without relying on traditional payment infrastructure, making transactions faster, lower cost, and with increased reliability and transparency.” This builds on a previous relationship between the companies, with the bank’s integration of the Ripple USD (RLUSD) stablecoin happening back in July.
The move also reinforces Ripple’s presence in Europe, with Amina being a Swiss Financial Market Supervisory Authority-regulated financial institution. The bank’s Austrian subsidiary also holds a license under the European Union’s Markets in Crypto-Assets Regulation (MiCA) granted by Austria’s Financial Market Authority in October.
Amina chief product officer Myles Harrison said “native web3 businesses often run into friction when working with legacy banking systems,” adding that stablecoins can help solve those issues. “This is particularly the case for cross-border stablecoin transactions which traditional banks are yet to widely adopt.”
Related: Community expects first US spot XRP ETF to launch on Thursday
Banks need crypto services for crypto companies
Harrison explained that the bank’s clients “need payment infrastructure that can handle both fiat and stablecoin rails simultaneously,” which traditional banking networks cannot provide for. Ripple Payments, on the other hand, allowed Amina to offer such services, which led to “reducing cross-border friction and helping our crypto-native clients maintain their competitive edge.”
Source: Ripple Ripple’s managing director for the United Kingdom and Europe Cassie Craddock said that the collaboration lets Amina “serve as the on-ramp for digital asset innovators into traditional financial infrastructure.” He added that Ripple Payments provides a “bridge between fiat and blockchain” that enables seamless stablecoin payments.
Related: Canary Capital filing signals spot XRP ETF set for launch this week
Ripple onboards traditional finance onchain
This is just the latest partnership in which Ripple injected blockchain capabilities into an institution engaged in traditional finance. According to mid-November reports, the company is spending about $4 billion to combine prime trading, treasury tools, payments, and custody to take on traditional finance.
Ripple’s ambitions are also global. Earlier this month, Ripple Labs received approval from Singapore’s central bank to expand its payment activities. This enables the company to offer regulated token services, end-to-end payments and growth across Asia-Pacific.
At the end of November, RLUSD was also cleared for use by institutions in Abu Dhabi after winning recognition as an Accepted Fiat-Referenced Token by the local watchdog.
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- TD Cowen raises Alphabet target on growing Gemini users and AI-powered Google searches
- Crypto Cruising on Tailwinds Into 2026: LONGITUDE
Institutional investment and clear-cut regulations are laying the foundation for a strong start to 2026 for the wider cryptocurrency industry.
Industry players including Anthony Scaramucci, Kristin Smith, Eli Ben-Sasson, Ian Rodgers, Reeve Collins and Joseph Chalom delivered optimistic outlooks for the new year after a year of positive change, particularly in the United States.
Cointelegraph’s latest LONGITUDE event featured panels focused on Solana’s growth, surging interest in privacy protocols and lessons learned from security incidents in 2025.
From left, Solana Policy Institute president Kristin Smith, Cointelegraph journalist Ciaran Lyons and SkyBridge founder Anthony Scaramucci. “There’s been a tremendous amount of progress in 2025, an unprecedented amount,” Smith said. The president of the Solana Policy Institute has been intimately involved in crypto-focused discussions in Washington over the past 18 months.
“I think now that the US is catching up, you’re seeing policymakers around the globe figuring out what they need to do to stay competitive and keep crypto within their borders, which is different than trying to keep crypto outside of their borders.”
Scaramucci said educating policymakers remains a key hurdle to helping the traditional financial system adopt innovative protocols running on blockchain rails.
“Kristin has got to go into those rooms, and she’s got to explain to these people why this regulation needs to get passed so that we can retool the financial system and make the system less expensive and more seamless,” Scaramucci said.
The founder of SkyBridge Capital added that existing TradFi systems currently spend over $4 trillion on transaction verification globally. Shifting to protocols like Ethereum and Solana, which currently rank highest for RWA tokenization and onchain activity, could offer unrivalled efficiency and cost savings.
“That’s credit card fees, wire fees, a whole host of different things. If we were able to adopt Solana and use it in the process of tokenizing assets, you could save probably 75% of that, and that could be transformative for the global economy.”
Again, the major hurdle in recent years has been lagging regulations that have scuppered innovation and the ability for institutions to actively explore using blockchain protocols.
“We can do that today. It’s actually fairly easy to issue a share or a bond on a blockchain. The problem is the regulations don’t make sense when it comes to trading those assets. And so that’s a piece that we’re working on,” Smith said.
Related: Scaramucci family invested over $100M in Trump’s Bitcoin mining firm: Report
Scaramucci delivered a bullish parting message, highlighting the intent of America’s biggest financial institutions, BlackRock, Blackstone and JPMorgan, moving to tokenize assets on blockchain protocols.
“Don’t sit here myopically in 2025 and see this short-sighted opportunity. See the exponential technological opportunity that’s coming.”
Privacy in vogue
StarkWare founder Eli Ben-Sasson, who also co-founded the Zcash protocol, engaged in a thought-provoking fireside chat unpacking why privacy protocols have been in vogue in the latter half of 2025.
“I spent several decades of my life thinking about privacy, both the math and then the productization. Privacy is a spectrum.”
Ben-Sasson weighed in on the massive interest in Zcash (ZEC) in 2025. The privacy-focused cryptocurrency has been around since 2016, but saw a massive surge in value and interest off the back of support from various big names in the industry.
“At one extreme, you have the stuff we did at Zcash, which is resistance money level of privacy. If you need to jump on a plane and the government is pursuing you and you need to be fully, you know, off the radar, then you have that,” Ben-Sasson said.
StarkWare co-founder Eli Ben-Sasson. However, Ben-Sasson said the cost of that luxury is in the user experience. Wallets, programmability and user experience are harder to provide with that level of privacy. The less technical end of the spectrum affords a use case that is in high demand.
Related: Can Zcash’s rise revive the Bitcoin OP_CAT discussion?
“Enterprises come in, and they are going to want a different kind of privacy and also a different kind of privacy from the kind that we did on Zcash. They’re going to want privacy where they, as enterprises, and their customers are shielded away from other customers and from their competitors,” he said.
Security wake-up call
Security was another major talking point at LONGITUDE VII, given the spate of high-profile hacks and security incidents in 2025.
Phemex CEO Federico Variola. Source: Cointelegraph The theft of $1.6 billion of Ether (ETH) from Bybit in March was a wake-up call for the industry. As Phemex CEO Federico Variola explained, social engineering and unverified access continue to be a major threat to everyday crypto users.
“I think combining the social layer of being a crypto participant with the financial layer, those kind of devices should be never interacting with each other.”
“It’s difficult in crypto because sometimes you need to participate in an airdrop, or like you want your Twitter account to be linked to the MegaETH ICO, for example. Nevertheless, you should be aware that you’re always exposing yourself to significant risk,” Variola said.
Related: Bybit hack: ‘Reckoning’ that led SafeWallet to rearchitect its systems
Ledger’s chief experience officer Ian Rodgers said that the onus is on service providers and infrastructure builders to think critically about the risks their platforms and users face.
“There is no way to make a risk go to zero. But it is the responsibility to minimize the risk as much as possible, to think about what is the worst thing that could possibly happen, what could go wrong here,” Rodgers said.
Cointelegraph’s exclusive LONGITUDE events will be back on the calendar in 2026, with editions planned for New York, Paris, Dubai, Hong Kong, Singapore and Abu Dhabi.
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- US admiral leading US troops in Latin America to step down
- Crypto Speculation at 2024 Lows as TradFi Risk Booms
Traditional finance leveraged investment products are at a record high, but the appetite for speculative assets remains muted in the cryptocurrency market.
Speculative appetite is cooling among crypto investors, with memecoin dominance versus altcoins hitting a near two-year low last seen in February 2024, according to crypto data platform CryptoQuant.
“Memecoin markets are dead,” wrote CryptoQuant co-founder and CEO Ki Young Ji in a Thursday X post.
Memecoin dominance in altcoin markets. Source: Ki Young Ju In contrast, speculative appetite is soaring among equities investors, as traditional leveraged exchange-traded funds (ETFs) hit a new all-time high of $239 billion in assets under management during the third quarter of 2025, according to Bloomberg data shared by Barchart.
The dynamic signals a waning enthusiasm for high-risk digital assets, as speculative appetite is recalibrating to regulated, TradFi leveraged products in less volatile equity markets.
Source: Bloomberg/Barchart The market dynamic signals a maturation in crypto and equities markets, as risk-taking is “expressed through regulated, familiar products with defined safeguards,” not memecoins that suffer from “thin” liquidity and regulatory uncertainty, Lacie Zhang, market analyst at Bitget Wallet, told Cointelegraph.
”A revival would likely require a strong catalyst — such as a new viral narrative, major exchange listings, or decisive price action — to reignite retail interest.”
Related: Bitcoin treasuries stall in Q4, but largest holders keep stacking sats
Crypto investor sentiment yet to recover from October market crash
The appetite of crypto investors remains muted for most cryptocurrencies since the record market crash at the beginning of October, not just for memecoins.
Crypto investor sentiment saw a small recovery from the “Extreme Fear” of 10 recorded on Nov. 23, but the current 29 reading still signals “Fear,” and remains far below the 62 “Greed” level from Oct. 7, before the $19 billion crypto market crash occurred, according to CoinMarketCap’s Fear & Greed Index.
Crypto Fear & Greed Index, one-year chart. Source: CoinMarketCap Meanwhile, the crypto industry’s best-performing traders by returns, who are tracked as “smart money” traders on Nansen’s blockchain intelligence platform, are betting on the decline of the leading memecoins and most cryptocurrencies.
Smart money was net short on Fartcoin (FART) for $3.5 million and net short on the Pump.fun (PUMP) token for $1.5 million, Nansen data shows.
However, the cohort is betting on more upside for Ether (ETH) and decentralized exchange Hyperliquid’s (HYPE) token, signaling a preference for tokens with real revenue-generating blockchain protocols.
Smart money traders top perpetual futures positions on Hyperliquid. Source: Nansen Related: Crypto nears its ‘Netscape moment’ as industry approaches inflection point
The positioning from this cohort may also signal investor fatigue with the memecoin launches of the past cycle, as troubling data is emerging about some of these coins.
On Thursday, blockchain data from Bubblemaps claimed that about 30% of the Pepe (PEPE) token’s genesis supply was bundled under an entity that sold $2 million a day after the coin’s debut, casting doubt on the memecoin’s fair-launch premise.
Magazine: Memecoin degeneracy is funding groundbreaking anti-aging research
Source link - JPMorgan upgrades Citigroup as profitability improves
- Pakistan Advances Crypto Licensing For Binance And HTX
Pakistan’s authorities are moving to regulate major global cryptocurrency exchanges, issuing preliminary clearances to platforms including Binance to set up shop in the country.
The Pakistan Virtual Assets Regulatory Authority (PVARA) has granted no objection certificates (NOCs) to Binance and HTX, paving the way for the exchanges to register locally and pursue full licensing, the regulator announced on X on Friday.
The NOCs aim to ensure Pakistan’s phased approach to regulating crypto asset service providers aligns with the Anti-Money Laundering (AML) policies of the Financial Action Task Force (FATF), PVARA said.
“Strong governance, AML and CFT compliance remain central as Pakistan builds a trusted digital asset ecosystem,” the announcement noted.
CZ, Justin Sun meet with Pakistan’s finance minister
After receiving the NOCs, Binance and HTX are officially authorized to engage with the Securities and Exchange Commission of Pakistan (SECP), set up local subsidiaries and prepare their full license applications once regulations are finalized.
“The introduction of this structured NOC framework demonstrates Pakistan’s commitment to responsible innovation and financial discipline,” Pakistan’s Finance Minister Muhammad Aurangzeb said in a local report by ProPakistani.
As part of the initial engagement, Aurangzeb met with Binance CEO Richard Teng, Binance co-founder Changpeng “CZ” Zhao, and Tron founder Justin Sun, who currently serves as a global adviser to HTX.
PVARA chairman Bilal bin Saqib, Binance co-founder Changpeng Zhao, Finance Minister Muhammad Aurangzeb and HTX adviser Justin Sun (from left to right). Source: PVARA “A meaningful milestone for Binance in Pakistan,” Binance CEO Teng said in a post on X, adding that the exchange has obtained an AML registration from PVARA, moving it closer to full licensing and deeper local collaboration.
“Looking forward to building a safe, transparent and future-ready digital-asset ecosystem together,” he added.
Related: Coinbase mounts a cautious comeback in India, two years after exit
PVARA’s announcement came months after the authority held its first board meeting in August, proposing an initial licensing framework as well as taxation policies and international engagement.
The authority’s progress was contributed to by the Pakistan Crypto Council (PCC), a regulatory body that lists CZ as one of its advisers.
PVARA Chairman Saqib, who serves as the minister of state for digital assets, has urged the country’s authorities to take Bitcoin (BTC) and blockchain seriously as potential foundations for Pakistan’s future financial infrastructure.
“We see Bitcoin, digital assets, and blockchain not just as speculation but as infrastructure. Not as noise, but as a foundation of a new financial rail for the global south,” Saqib stated at the Bitcoin MENA Conference on Tuesday.
Source link - China’s Changan Automobile adds Italy and Spain to its European markets
- Ethereum Price Rallied 260% the Last Time ETH Was This Low
Ether (ETH) traded close to a level that has previously marked market bottoms, as classic chart patterns suggested a possible rally to $5,000.
Key takeaways:
Ethereum price traded closer to its realized price, historically a buying opportunity that has led to major rallies.
V-shaped recovery and falling wedge patterns emerge, targeting $5,000 ETH price.
Ether price poised for a parabolic rally
The ETH/USD pair dropped 45% to multimonth lows of $2,621 on Nov. 21 from a high of $4,758 reached on Oct. 7.
This drawdown saw the price drop close to the realized price of whales holding more than 100,000 ETH, as shown in the chart below.
This refers to the average price that all current holders of more than 100,000 ETH have paid to buy Ether.
Related: Ethereum network sees 62% drop in fees: Is ETH price at risk?
“Only four times in the last five years has ETH traded very close to the realized price of whales holding at least 100k ETH,” said CryptoQuant analyst Onchain in its latest Quicktake analysis, adding:
“Two occurred during the 2022 bear market, while the remaining two took place this year.”
In April, the ETH price bounced off this level, staging a 260% rally to its current all-time high of $5,000.
Realized price of whales holding over 100K ETH. Source: CryptoQuant “$ETH is currently trading at realized price of the biggest holders,” said analyst Quentin Francois in a recent X post, adding:
“This is historically a buying opportunity.”
Ether’s price rebounded from this trendline on Nov. 22, and now trades 23.5% higher at $3,238 on Friday.
If history repeats itself, ETH could rally to as high as $5,000, fueled by increased demand from Ethereum treasury companies and the return of spot ETF inflows.
Ether’s technical charts target $5,000 ETH price
Ether’s price technicals are painting a V-shaped recovery chart pattern on the weekly chart, as shown below.
ETH is retesting the 50-week simple moving average (SMA) at $3,300. Bulls need to push the price above this level to increase the chances of the price rising to the neckline at $4,955 and completing the V-shaped pattern.
Such a move would represent a 53% increase from the current price.
ETH/USD weekly chart. Source: Cointelegraph/TradingView Several analysts believe that ETH has the potential to rally to $5,000 in 2026, with Satoshi Flipper saying a falling wedge pattern projects a massive breakout for the altcoin.
“$4800 $ETH is closer than most think.”
ETH/USD daily chart. Source: Satoshi Flipper As Cointelegraph reported, Ether’s inverse head-and-shoulders (IH&S) formation against Bitcoin (BTC) points to a potential 80% rally in 2026, translating to an ETH price above $5,800.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
Source link - Fed’s Goolsbee explains vote against rate cut, says central bank should have waited
Austan Goolsbee, President and CEO of the Federal Reserve Bank of Chicago, speaks to the Economic Club of New York in New York City, U.S., April 10, 2025.
Brendan McDermid | Reuters
Chicago Federal Reserve President Austan Goolsbee on Friday explained why he voted against this week’s interest rate cut, saying policymakers should have waited until they had more information before easing further.
“While I voted to lower rates at the September and October meetings, I believe we should have waited to get more data, especially about inflation, before lowering rates further,” the policymaker said in a post on the Chicago Fed’s website.
Goolsbee was one of three Federal Open Market Committee members to vote against the quarter percentage point reduction, the third consecutive easing measure. He was joined by Kansas City Fed President Jeffrey Schmid, as well as Governor Stephen Miran, who preferred a steeper cut.
While he has said in the past he sees room for rates to come down further, Goolsbee said a lack of progress on inflation argued against moving now.
“Given that inflation has been above our target for four and a half years, further progress on it has been stalled for several months, and almost all the businesspeople and consumers we have spoken to in the district lately identify prices as a main concern, I felt the more prudent course would have been to wait for more information.” he wrote.
Goolsbee will not be a voter on the FOMC in 2026 but will still participate in meetings.
In a CNBC interview, he elaborated on his misgivings about cutting.
While other Fed officials have expressed concern about the weakening labor market, Goolsbee said data has shown conditions to be “pretty stable.”
“I’m pretty optimistic that for 2026 rates will will be able to be a fair bit lower than they are today. But I’ve just been uncomfortable front loading too many rate cuts,” he said in the interview. “We don’t take a lot of extra risk, in my view, to just wait to Q1 2026, and make sure that we’re back on path at 2% inflation.”
The FOMC on Wednesday voted to lower its benchmark rate to a range between 3.5%-3.75%.
In his post-meeting news conference, Chair Jerome Powell expressed worry that the labor market looks weaker than the headline numbers suggest, saying he expects official nonfarm payroll counts to be lowered and show losses in recent months.
For his part, Goolsbee said he is “one of the most optimistic people” that rates will be lower in the year ahead.
This is breaking news. Please refresh for updates.
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- Phantom Integrates Kalshi Prediction Markets Into Crypto Wallet
Crypto wallet application Phantom has partnered with regulated prediction market Kalshi to bring event-based trading directly into its wallet interface, signaling a deeper convergence between onchain finance and real-world outcome betting.
The companies said on Friday that the integration would allow Phantom users to discover trending events, track live odds and place bets without leaving their wallets.
A new feature called Phantom Prediction Markets will allow users to trade tokenized positions that reference Kalshi’s event markets across politics, economics, sports and culture.
“By integrating a layer of tokenized positions referencing Kalshi’s regulated event markets with Phantom, users can trade what they care about in real time,” said Phantom CEO Brandon Millman.
Source: Phantom Crypto exchanges eye US prediction markets
Phantom’s move comes as major crypto trading platforms race to enter the US prediction markets business.
On Thursday, Gemini Titan, an affiliate of the crypto exchange Gemini, received a designated contract market license from the US Commodity Futures Trading Commission (CFTC). Gemini said it plans to enter the prediction markets space.
The exchange said that it would allow users to access event contract trading on its web platform. Following its announcement, Gemini shares went up by nearly 14% in after-hours trading.
On Nov. 19, tech researcher Jane Manchun Wong, known for discovering in-development features on Big Tech websites, claimed that crypto exchange Coinbase is working on a prediction market. Wong shared screenshots apparently showing the unreleased platform.
Citing anonymous sources, Bloomberg reported that Coinbase plans to announce the launch of its prediction markets and tokenized equities.
A Coinbase spokesperson previously told Cointelegraph that the company will hold a livestream on Wednesday to showcase new products. However, the spokesperson did not mention prediction markets or tokenized stocks.
Related: Polymarket trading figures are being double-counted: Paradigm
Prediction markets face regulatory pushback
While prediction markets have gained popularity in the US, the state of Connecticut has recently taken a stance against certain platforms.
On Dec. 4, the Connecticut Department of Consumer Protection (DCP) sent cease and desist orders to Robinhood, Kalshi and Crypto.com, alleging that they were conducting unlicensed online gambling. Kalshi took action a day later.
The prediction market platform sued the DCP, arguing that its event contracts are lawful under federal law.
Connecticut federal court Judge Vernon Oliver stated in an order that the DCP must refrain from taking enforcement action against Kalshi. This temporarily stops the DCP’s cease and desist order against Kalshi.
Magazine: Koreans ‘pump’ alts after Upbit hack, China BTC mining surge: Asia Express
Source link - U.S. equity funds draw first weekly inflow in three weeks ahead of Fed easing
- UK MPs Warn BoE Rules May Push Innovation Offshore
A cross-party group of members of the House of Commons and the House of Lords in the United Kingdom, including former Defense Secretary Sir Gavin Williamson, shadow Science and Tech (AI) Minister Viscount Camrose and the former Prime Minister Rishi Sunak’s chief whip, Lord Hart, have urged Chancellor Rachel Reeves to intervene over the Bank of England’s proposed regime for systemic stablecoins.
In a joint open letter to the Chancellor on Thursday, they warned that the Bank of England’s proposals for regulating stablecoins could drive innovation and capital offshore.
Stablecoins already a “pillar” of the digital economy
The parliamentarians said the plans risk turning the UK into a “global outlier” by barring most wholesale use of stablecoins outside the Digital Securities Sandbox, prohibiting interest on reserves and imposing what they call “impractical and anti-innovation” holding caps that could push activity into dollar stablecoins such as USDC (USDC) and USDt (USDT).
Open letter to the chancellor shared with Cointelegraph The signatories argue that stablecoins are already becoming a “pillar of the digital economy,” and warn that the UK is “drifting towards a fragmented and restrictive approach” that will deter adoption and weaken London’s global role.
Related: UK central bank still ‘disproportionately cautious’ about stablecoins
They stressed that British pound-pegged stablecoins represent less than 0.1% of global issuance, claiming the current framework overstates depositor-flight risk while undercutting the government’s goal of making the UK a “world‑leading destination for digital assets.”
Asher Tan, co-founder and CEO of UK Financial Conduct Association-registered CoinJar, one of the longest-running cryptocurrency exchanges globally, told Cointelegraph that the letter reflected a “growing frustration across the digital asset industry” that the UK risks “regulating tomorrow’s financial infrastructure with yesterday’s assumptions.”
Jakob Kronbichler, co-founder and CEO of Clearpool onchain credit marketplace, said that stablecoins are already functioning as settlement infrastructure for payments, capital markets and onchain credit, not “as experimental products.”
He said that if regulation continues to treat them as “niche or provisional,” it risks slowing adoption in the very areas where the UK wants to lead.
Related: FCA trials crypto transparency templates as UK shapes new rulebook
The Bank of England’s stablecoin plans
Under the proposed regulatory regime for sterling-denominated systemic stablecoins, the bank proposes temporary holding limits of 20,000 pounds ($26,500) per coin for individuals and about $13.3 million for businesses, with exemptions for the biggest corporations.
Issuers would be required to maintain at least 40% of their reserves as unremunerated deposits at the bank and up to 60% in short-term UK government debt.
Tan said that proposals like hard caps or constraints on reserve economics limit functionality too aggressively. “They won’t completely eliminate risk,” he added, “it will simply relocate activity to jurisdictions with more flexible regulatory frameworks.”
Related: Bank of England governor says stablecoins could reduce reliance on banks
How the UK shapes up to other jurisdictions
In the European Union, the Markets in Crypto-Assets Regulation, or MiCA, already provides a live framework for euro and other asset-referenced tokens across the EU, capping non‑EU currency stablecoins to protect monetary sovereignty rather than to limit overall market growth.
By contrast, the Bank of England’s per-user caps and wholesale limits go further in constraining scale, meaning the UK could end up with tighter usage constraints than MiCA.
In the US, the newly enacted GENIUS Act is designed to support large‑scale payment and settlement use without blanket per‑wallet caps or a narrow sandbox model, which the UK letter’s authors argue leaves London at risk of watching the EU and US capture the “next wave of capital markets innovation.” Kronbichler commented:
“If pound-denominated stablecoins are structurally less efficient than offshore alternatives, activity won’t disappear, it will migrate overseas.”
Source link - Nasdaq seeks more power to block IPOs vulnerable to manipulation
- Bitcoin Decouples From Stocks in Second Half of 2025
The US Federal Reserve announced its third interest rate cut of the year on Wednesday, lifting US equities while Bitcoin (BTC) slipped before bouncing back.
That dynamic has defined the second half of 2025. Even as capital flows into Bitcoin are increasingly tied to traditional equity investors, the cryptocurrency has continued to diverge from the stock market.
Over the past six months, Bitcoin has fallen almost 18%. Meanwhile, the three major US stock indexes posted strong and consistent gains, with the Nasdaq Composite up 21%, the S&P 500 rising 14.35% and the Dow Jones Industrial Average climbing 12.11%.
Bitcoin has still recorded notable milestones this year, including setting new all-time highs and avoiding the typical “red September” for the third year in a row.
Here’s how Bitcoin’s divergence from stocks has widened through the second half of the year.
Bitcoin moved alongside the three major equity indexes in the third quarter but started to decouple in Q4. July: GENIUS Act lifts crypto
July 2025 was defined by strong equity performance and a resilient risk appetite that persisted despite significant tariff announcements.
Early-July trade rhetoric caused brief turbulence, but markets quickly shifted their focus back to corporate earnings and underlying growth fundamentals.
Related: DATs bring crypto’s insider trading problem to TradFi: Shane Molidor
On July 9, AI chip giant Nvidia became the first company to reach a $4-trillion valuation. On the same day, equities shrugged off trade-related shocks as the S&P 500 and Nasdaq posted fresh record highs even after the US announced 50% tariffs on copper.
Bitcoin ended July up 8.13%, marking its strongest monthly performance in the second half of the year to date, including December. Crypto markets strengthened after US President Donald Trump signed the GENIUS Act into law, injecting fresh optimism into the sector, particularly for stablecoin-related businesses.
Equities crab walk, while Treasurys and stablecoins lift crypto. Source: TradingView Corporate adoption also remained a key theme, with companies continuing to add Bitcoin to their balance sheets as part of digital asset treasury strategies. By July, interest in other major cryptocurrencies, including Ether (ETH) and Solana (SOL), also began to pick up.
August: Powell’s speech powers Ether’s ATH
August was driven by rising expectations that the Federal Reserve would soon cut interest rates. Those hopes fueled a broad rally across traditional markets, while crypto moved even faster. Bitcoin surged to a new all-time high of around $124,000 on Aug. 14 as the US dollar weakened amid rising trade tensions.
The Jackson Hole Economic Symposium then brought markets’ attention back to monetary policy. On Aug. 22, Fed Chair Jerome Powell delivered a dovish signal, suggesting that rate cuts were still possible later in the year, pushing Ether to a new all-time high.
The Fed’s dovish signal sends Ether to new highs. Source: CoinGecko Equities responded positively, but Bitcoin failed to sustain its momentum. The asset saw a sharp but brief uptick immediately after Powell’s speech before resuming its decline. By month’s end, Bitcoin’s post-ATH correction had clearly diverged from traditional markets. Bitcoin closed August down 6.49%.
September: First rate cut of 2025
September has historically been Bitcoin’s weakest month. Along with June, it is one of only two months that posts a negative average monthly return, earning it the nickname “red September.”
In 2025, however, Bitcoin defied that trend, recording its third consecutive positive September. The gain came as the Fed delivered its first rate cut of the year, a 25-basis-point reduction justified by signs of a cooling labor market. Bitcoin ended the month up 5.16%.
Related: Bitcoin set to beat ‘red September’ dip for third straight year
Equities also responded positively, extending their third-quarter rally as markets priced in the likelihood of additional monetary easing in October.
Bitcoin, however, faced a new internal challenge. The community became divided over a major network upgrade that would remove limits on how much arbitrary data can be embedded on the blockchain.
Bitcoin Core, the software implementation most widely used by miners and node operators, supported lifting the limit. Those who view non-financial data on Bitcoin as spam pushed back against the change, contributing to increased adoption of Bitcoin Knots as an alternative implementation.
Bitcoin’s upgrade divides the community as Knots nodes rise as alternatives. Source: Coin Dance October: Trump threatens 100% tariffs on China
Bitcoin hit another all-time high on Oct. 6, but the month was ultimately defined by the largest liquidation event in Bitcoin’s history, with roughly $19 billion in positions wiped out.
Several factors were identified as contributors to the liquidation cascade that sent Bitcoin plunging below $110,000. These included a price glitch on Binance and the industry’s heavy reliance on futures-based trading, which amplified forced liquidations as prices fell.
The immediate catalyst, however, was a social media post by President Trump threatening 100% tariffs on Chinese imports. The comment triggered a sharp sell-off across both crypto and equity markets.
Although October is often referred to as Uptober in the crypto community due to its historically strong performance, 2025 proved to be an exception. Bitcoin snapped a five-year streak of positive Octobers and ended the month down 3.69% even as major stock indexes recovered from the trade-related shock.
Trump’s social post sparks a crypto liquidation frenzy. Source: Donald Trump By the end of the month, the Fed delivered its second consecutive rate cut, lowering the federal funds rate by another 25 basis points. Meanwhile, the US government remained shut throughout October, extending what became the longest government shutdown in history.
November: End of the US government shutdown
October may carry the nickname Uptober, but November has historically been Bitcoin’s strongest month, posting an average gain of 41.12% — more than double October’s average return of about 20%.
In 2025, November proved to be Bitcoin’s worst-performing month of the year, with the asset falling 17.67%. Selling pressure intensified throughout the month, pushing Bitcoin below the $100,000 mark by mid-November.
November is historically Bitcoin’s best month, but it was the worst month of 2025. Source: CoinGlass The divergence from equities was pronounced. Stock markets traded largely sideways as the US government shutdown came to an end. Investors remained cautious amid concerns over a potential AI-driven bubble. Some of those fears were eased later in the month after Nvidia reported record earnings for the third quarter, helping stabilize sentiment across technology stocks.
Bitcoin’s year-end target slashed
So far, Bitcoin is up about 2% in December, with major equity indexes also posting moderate gains. Bitcoin’s average December return currently stands at 4.54% at the time of writing.
While the holiday season has been relatively quiet for Bitcoin in recent years, history suggests the crypto market does not necessarily slow down during the festivities.
In December 2020, for example, Bitcoin surged nearly 47%, even as market-shaking news emerged from the US Securities and Exchange Commission: the launch of a years-long lawsuit against Ripple Labs and its executives.
This year, much of the optimism surrounding Bitcoin’s potential year-end rally has faded. Several market watchers have lowered their price targets for the cryptocurrency, including Standard Chartered.
The bank had previously forecast a year-end price of $200,000 for Bitcoin, but on Monday, it revised that target down to $100,000. Standard Chartered has also delayed its longer-term forecast for Bitcoin reaching $500,000, pushing the target from 2028 to 2030.
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