Insight Beating AI Flash News: Artificial Analysis has updated its Intelligence Index to version 4.2, designed to make its rankings more resistant to targeted score manipulation. The weight of private testing has been increased from 20% to 40%, preventing model developers from accessing the full test set in advance and reducing room for benchmark-specific optimization. The new version adds two test modules: AA-Briefcase and GDP.pdf. AA-Briefcase simulates real-world knowledge work projects spanning weeks, requiring models to handle numerous related tasks and thousands of documents. GDP.pdf uses 100 professional PDFs totaling 4,592 pages, challenging models to locate evidence across texts, tables, charts, and footnotes to answer questions. GPQA Diamond has been removed from the overall index. This graduate-level science question benchmark has reached near-saturation: GPT-6 Astra scored the highest at 96.3%, with Gemini 3.8 Flash at 95.3%, making it nearly impossible to distinguish between the top models. After recalculation, Claude Fable 5.1 retains the first place, followed by GPT-6 Astra. Astra notched a score of 55, 4 points higher than GPT-5.6 Sol. Artificial Analysis also noted that Astra uses fewer output tokens compared to other leading models in its tier.
Trump: Strong jobs data, yet the stock market is falling, and high interest rates are the culprit.
Trump released a post stating: "We just got outstanding jobs data. The market should rally given our improved credit and economic conditions, but as has been the case over the past 25 years, the stock market is falling anyway. This is because we live in a false reality where if things go well, we must 'kill it' out of 'fear' of inflation. It should be the opposite, and that is how things operated until 25 years ago. If we cling to this theory, we will never achieve the real economic prosperity our country deserves, because every time we perform well, foolish people immediately want to halt this positive upward momentum. Growth does not cause inflation! This morning, as soon as I saw these strong jobs numbers, I knew the market should have skyrocketed, but instead it dropped. Our GDP growth rate should be 15% to 20%, not 2%, 3% or 4%; the U.S. should be far more financially robust than it is now. Debt should be repaid, and all sorts of other benefits should be realized. Remember, every one percentage point increase in interest rates costs the U.S. $650 billion annually. We should adopt the lowest interest rates in the world, because we keep everything running and bring massive economic wealth to countries that might otherwise be struggling!"
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Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
The CLARITY Act has just four Senate working days left before the August recess, with no vote currently scheduled. Former Barclays CEO Bob Diamond says Circle and Hyperliquid could be among the biggest winners if the bill passes. Bernstein warns that if the bill stalls, the SEC and CFTC are likely to take the lead on US crypto regulation. With just four Senate working days remaining before Congress begins its August recess, supporters of the CLARITY Act are making a final push to secure what many consider the most significant US crypto market structure bill to date. Industry leaders argue the legislation would not simply provide regulatory clarity but lay the foundation for always on financial markets powered by blockchain technology.
Former Barclays CEO Bob Diamond became one of the latest high profile executives to endorse the bill, arguing that its long term impact extends far beyond crypto trading.
LATEST: 🇺🇸 Former Barclays CEO Bob Diamond says the CLARITY Act will deliver 24/7 trading, instant settlement, and a "permanent record in perpetuity" at a fraction of the cost of TradFi. pic.twitter.com/rjL0P24vTY
— CoinMarketCap (@CoinMarketCap) August 2, 2026
Speaking during a CNBC interview, Diamond said the financial system is moving toward continuous markets with instant settlement, describing blockchain as a more efficient replacement for traditional infrastructure.
“The infrastructure winners are Circle and Hyperliquid,” Diamond said, pointing to stablecoin issuer Circle and decentralized exchange Hyperliquid as examples of platforms positioned to benefit from a regulated digital asset market.
He added that blockchain based markets could deliver 24 hour trading, instant settlement, significantly lower costs than traditional finance, and “a permanent record in perpetuity,” removing many of the inefficiencies that still exist in legacy financial systems.
Despite growing industry support, the Senate schedule does not currently include a CLARITY Act vote, leaving lawmakers with only four working days before the August 7 recess. That timeline has become increasingly significant because many senators are expected to shift their attention toward campaigning for the 2026 midterm elections once Congress adjourns.
🚨BREAKING: The US Senate schedule does not include a CLARITY Act vote today.
Just 4 days remain until the August recess.
Timing is critical, as members will shift their focus to campaigning ahead of the midterm elections after the recess.
Some senators have warned that… pic.twitter.com/a120Fg4ZYR
— Bull Theory (@BullTheoryio) August 3, 2026
Moreover, the absence of a scheduled vote has heightened concerns that the bill could miss its narrow legislative window. Senator Lummis has already warned that failure to pass the CLARITY Act this year could delay comprehensive US crypto market structure legislation until as late as 2030, as congressional priorities shift after the midterm elections.
White House and industry ramp up pressure Momentum behind the legislation is also being reinforced by the White House.
Coinbase Chief Policy Officer Faryar Shirzad highlighted comments from former Defense Secretary Mark Esper, who described the CLARITY Act as a national security priority rather than simply a financial services bill.
Former Secretary of Defense @MarkTEsper is exactly right on the CLARITY Act:
“The stakes are clear: American leadership in technology that will shape our economic and strategic future. This week may be our last real window.” https://t.co/I6UYjkeoJy
— Faryar Shirzad 🛡️ (@faryarshirzad) August 2, 2026
Esper argued that the legislation is essential for maintaining American leadership in technologies that will shape future economic competitiveness and geopolitical influence. Shirzad echoed that message, saying the coming days may represent the industry’s last realistic opportunity to secure comprehensive crypto legislation before election politics dominate the Senate calendar.
The White House has repeatedly argued that passing the bill would strengthen US leadership in digital financial infrastructure while preventing innovation from moving overseas.
CLARITY Act Vote Remains Unscheduled With Four Days Until Senate Recess Despite growing industry support, the Senate schedule does not currently include a CLARITY Act vote, leaving lawmakers with only four working days before the August 7 recess.
That timeline has become increasingly significant because many senators are expected to shift their attention toward campaigning for the 2026 midterm elections once Congress adjourns. Senate Majority Leader John Thune has acknowledged that passing the legislation before recess is increasingly unlikely, although negotiations remain ongoing.
Analysts at Bernstein recently lowered their estimated probability of CLARITY becoming law in 2026, arguing that unresolved ethics negotiations and limited legislative time have materially reduced its chances.
Bernstein says fading CLARITY Act odds could accelerate SEC and CFTC crypto rulemaking. | Source: @scottmelker on X. However, the firm said failure would not necessarily halt crypto reform. Instead, the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) could move ahead with broader rulemaking under the Trump administration’s Project Crypto initiative. SEC Chair Paul Atkins has similarly argued that if Congress does not establish a statutory framework, the agency can deliver crypto rules without the CLARITY Act.
Negotiators are still working on a revised ethics compromise led by Senators Thom Tillis and Ruben Gallego, an issue that remains one of the largest obstacles to assembling the 60 votes needed for Senate passage.
For supporters like Diamond, however, the debate has already moved beyond regulation. They see the CLARITY Act as the legal foundation for a financial system built around tokenized assets, stablecoins, continuous trading, and blockchain based settlement, where firms such as Circle and Hyperliquid could emerge as some of the biggest long term beneficiaries.
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The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Dr. Guneet Kaur is a senior editor at CCN.com and a Science Fellow at Exponential Science. She is a fintech and blockchain expert with extensive experience in digital finance education, blockchain ecosystems, and cryptocurrency markets. She has worked with global media such as Cointelegraph, as well as education and blockchain platforms, to design and lead strategic content and learning initiatives. As an educator and assessor for top-tier executive programs, she bridges real-world fintech trends with academic insight.
Dr. Kaur is also a published researcher and peer reviewer across fintech and data science journals, including Financial Innovation Journal and International Journal of Big Data Intelligence and Applications. Her work spans data-driven analysis, Web3 innovation, and technical content development. With a strong foundation in both industry and academia, she translates complex financial technologies into practical applications, empowering learners, professionals, and institutions across the rapidly evolving digital finance landscape.
Former Barclays CEO Bob Diamond has thrown his weight behind the long-debated Clarity Act.
During his recent appearance on CNBC's "Squawk Box," he stated that the legislation would actually benefit the banking industry.
Banks stand to benefitThe Clarity Act, which aims to establish a comprehensive regulatory framework for digital assets in the United States, has recently stalled in the Senate due to various disagreements, with the banking industry mostly rallying to oppose the bill.
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Asked whether banks were right to oppose the legislation, Diamond argued that the opposite is true, given that the bill is "really good for the banks over time."
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He noted that the world's largest financial institutions are already preparing for blockchain-based finance, arguing that "no one is investing more in innovation right now than JPMorgan, Morgan Stanley, Goldman Sachs, [and] Bank of New York." As a result, Diamond believes "the large, most successful banks are going to benefit from this."
Advantages of blockchain Diamond described blockchain technology as a transformational improvement to financial markets, stressing that "what we're talking about is innovation."
He pointed to several advantages of blockchain infrastructure, including "24-hour trading, 24 over 7," as well as "instantaneous settlement, which is a positive thing." He also praised blockchain's transparency, noting that it creates "a permanent record in perpetuity of every transaction that happens."
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According to Diamond, these features can significantly improve the efficiency of financial markets, delivering services "at a fraction of the cost with deeper liquidity." Taken together, he argued, "these things are very, very positive."
Regulatory Clarity could accelerate adoptionDiamond said banks are already investing heavily in the infrastructure needed for tokenized finance and suggested that regulatory certainty would only strengthen that trend.
"The investments that are being made by the banks," he said, mean that "a number of the banks that have been investing will be big winners in this."
Bob Diamond, former CEO of Barclays, publicly endorsed the Clarity Act in a recent interview, describing the proposed legislation as a long-term benefit to the US banking industry despite widespread sector resistance.
Industry debates over the Clarity ActThe Clarity Act, designed to create a comprehensive regulatory structure for digital assets in the United States, has encountered delays in the Senate. Disagreements among legislators and active opposition from several large banks have contributed to the current impasse. The bill’s objective is to define clear rules for banks and financial firms interacting with cryptocurrencies and blockchain-based services.
Despite the banking industry’s vocal opposition, Diamond argued that banks stand to gain from the increased legal clarity and stable environment the act could offer. He emphasized that regulatory certainty is vital for financial institutions planning to expand into blockchain and digital asset markets.
Major banks increasing blockchain investmentDiamond highlighted that globally prominent financial institutions, including JPMorgan, Morgan Stanley, Goldman Sachs, and Bank of New York, have intensified their investments in blockchain innovation. He pointed out that these banks recognize the potential of blockchain to transform traditional markets and are allocating substantial resources to explore its use for trading and settlements.
He predicted that the most established and successful banks are best positioned to take advantage of these technological shifts, stating that active investment in blockchain infrastructure will determine which institutions succeed in the next era of finance.
Mini dictionary: Barclays is a British multinational universal bank, recognized for its global banking operations and previous leadership by Bob Diamond. The Clarity Act is proposed US legislation aimed at clarifying regulatory requirements for digital assets.
Blockchain’s benefits for financial marketsDiamond described blockchain technology as a major advancement for the financial sector, noting features such as continuous 24/7 trading and immediate settlement of transactions. He also praised the technology’s transparency, which results in a permanent, tamper-proof record of all market activity.
According to Diamond, these elements could yield significantly lower costs, greater liquidity, and improved market efficiency for both clients and institutions. He expressed confidence that these changes are positive for the financial industry and broader economy.
Diamond cited the growing role of innovation at large banks, explaining that JPMorgan, Morgan Stanley, Goldman Sachs, and Bank of New York are leading the way in technology-driven finance.
Regulatory certainty as a catalystWhile acknowledging the current opposition among many banks, Diamond insisted that the clarity provided by new regulations would further accelerate bank investment in blockchain foundations and digital asset infrastructure. He identified regulatory certainty as a potential trigger for even larger commitments by US financial institutions to tokenized finance.
Diamond views the ongoing investments as a sign that “a number of the banks that have been investing will be big winners in this.”
He indicated that the sector’s current progress is only the beginning, suggesting that, should the Clarity Act pass, banks already leading in blockchain could see considerable competitive advantages.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Vitalik Buterin has pitched the Diamond indistinguishability obfuscation (iO), a novel cryptographic framework that promises to deliver blockchain privacy and trustless infrastructure in both crypto and Web3.
Vitalik proposes new blockchain privacy technologyIn his latest blog, the Ethereum co-founder describes Diamond iO as a tool that would enable user interaction with encrypted software, but in such a manner that the program’s underlying logic, code, and keys remain secret. Diamond iO would run on Fully Homomorphic Encryption (FHE) inside a modified Attribute-Based Encryption (ABE) scheme.
Unlike historical assumptions about iO, Buterin’s proposal could theoretically reduce the time it takes to run hidden program logic from a “universal-level” to a “planet-level” timescale. This would lay the groundwork for several privacy-preserving applications, including:
On-chain voting where the program tallies votes and displays results without the need for a centralized tallying body.Private key use where applications can deploy private keys without risking their exposure.Trustless cryptographic infrastructure where developers can build secure software licensing protocols and decentralized, trustless Web3 services.Privacy-first blockchain and AI systems where artificial intelligence (AI) and smart contracts can process sensitive data with zero leakages.Current limitations and competitionWhile Diamond iO is a viable proposition, it still requires extensive research and peer review before deployment. It also demands heavy computational input and tight circuit depth limits and will therefore require additional optimization studies.
Nonetheless, the idea speaks to the ever-growing need for privacy preservation on-chain and beyond, for both individuals and corporate entities.
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Ethereum co-founder @VitalikButerin has published the second instalment of his cryptographic obfuscation series, introducing a new design called Diamond iO, a novel take on indistinguishability obfuscation (iO) that aims to make encrypted program execution more feasible.
What Is Diamond iO? Indistinguishability obfuscation is one of cryptography's most ambitious goals. Obfuscation turns a program into an encrypted version that still runs and produces the same outputs, while hiding how it works inside. The formal target, iO, means that given two scrambled programs that do the same job, no one can tell which is which. Buterin has previously described this as hiding the code rather than the data, which sets iO apart from standard encryption and zero-knowledge proofs.
In his latest blog post, Buterin describes Diamond iO as a tool that would enable user interaction with encrypted software in such a manner that the program's underlying logic, code, and keys remain secret. Diamond iO would run on Fully Homomorphic Encryption (FHE) inside a modified Attribute-Based Encryption (ABE) scheme.
Unlike historical assumptions about iO, Buterin's proposal could theoretically reduce the time it takes to run hidden program logic from a "universal-level" to a "planet-level" timescale. That is a meaningful step forward, even if it still falls well short of practical deployment.
Promising But Not Yet Practical Combined with blockchains, which solve the one gap obfuscation cannot, namely preventing a program from being copied to handle stateful operations like money, Buterin says the combination could enable applications such as fully private, collusion-resistant systems. Despite theoretical breakthroughs in recent years, the practical hurdle remains enormous.
Buterin attributed the overhead to multi-layered constructions stacking primitives including fully homomorphic encryption, functional encryption, and lattice-based tools. Expected runtimes for provably secure schemes exceed the lifetime of the universe, he noted. Diamond iO narrows that gap but does not close it.
The design would lay the groundwork for several privacy-preserving applications, including on-chain voting where the program tallies votes and displays results without the need for a centralised tallying body. Buterin has made clear he hopes researchers will continue to improve both its security assumptions and computational performance before any real-world deployment becomes viable.
Sources:
Coinpedia: Vitalik Introduces Diamond iO
CoinDesk: Vitalik Buterin on Indistinguishability Obfuscation
The Block: Buterin Calls Obfuscation Cryptography's Final Boss
PANews, July 29 – Ethereum co-founder Vitalik Buterin published a technical article titled "Obfuscation (Part II): Diamond iO," introducing a new type of program obfuscation protocol. Previously, conservative obfuscation schemes had running times exceeding the age of the universe and were completely impractical. Diamond iO modifies the BGG+14 attribute-based encryption scheme, dramatically shortening the running time and advancing program obfuscation from "absolutely impossible" to a stage where "hope is theoretically in sight."
Vitalik explains that the core of Diamond iO is nesting FHE computation inside ABE, achieved through three key mechanisms: special processing of output encodings to realize conditional FHE decryption; adjusting functions to output pseudorandom results; and using tensor fusion to allow the evaluator to generate a unique encoding for any input. Compared to conservative obfuscation schemes, this approach is simpler, with only one layer of FHE nested inside ABE, without the need for complex towers of sublinear random encodings, functional encryption, garbled circuits, and other constructs.
The article notes that Diamond iO relies on two relatively new cryptographic assumptions: all-product LWE and evasive LWE, and its security still requires further verification. The main efficiency bottlenecks stem from the depth of hash computation and the requirement for "sub-exponential security" parameters. Vitalik proposes several optimization directions, including improving the implementation of Goldreich PRG, finding more efficient FHE schemes, collapsing ABE and FHE layers, and so on, and hopes that Diamond iO will receive more attention and analysis, eventually leading to a runnable obfuscation protocol.
Ethereum co-founder Vitalik Buterin has released a new paper introducing the novel cryptographic obfuscation technology Diamond iO. Designed to address the extremely low efficiency of traditional indistinguishability obfuscation schemes, the technique enables programs to run while hiding their internal logic and critical data. While traditional iO offers robust privacy protection, its operational cost is so high it is nearly impractical. Diamond iO, however, leverages more aggressive new cryptographic assumptions to boost computational efficiency from "cosmic-scale time" to "planetary-scale time", bringing it closer to real-world applications. Built on technologies including Attribute-Based Encryption (ABE) and Fully Homomorphic Encryption (FHE), Diamond iO encrypts programs such that users can run the encrypted programs and obtain correct outputs without accessing their internal code or hidden keys. It introduces new input encoding mechanisms and conditional decryption methods, reducing computational complexity while keeping program logic hidden. Its core application scenarios include protecting programs containing private keys, enabling secure software licensing, building trustless cryptographic services, and supporting blockchain and AI systems with stronger privacy protections. However, Diamond iO remains in the early stages of research. Its security relies on new cryptographic assumptions such as All-Product LWE and Evasive LWE, and requires further research for validation. Additionally, the technology still faces efficiency challenges including high computational overhead and circuit depth limitations. Researchers note that by optimizing underlying hash functions, improving homomorphic encryption schemes, and lowering security parameter requirements, Diamond iO is poised to become a key direction in advancing practical program obfuscation technology in the future.
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US crypto-related concept stocks fell across the board, with RIOT down nearly 5%.
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The US Treasury’s Office of Foreign Assets Control (OFAC) has expanded its sanctions against Iranian businessman Babak Zanjani and his Dot One commercial network, targeting a wider array of firms including ZEDX DMCC, ZedPay, and BZ Diamond. This latest action broadens enforcement beyond cryptocurrency exchanges, extending into gold production, payments, and logistics infrastructure.
Key sanctioned entities and their connectionsZEDX DMCC, a Dubai-based commercial company, stands out among the newly sanctioned firms. The move illustrates the network’s ongoing realignment toward the United Arab Emirates, with Dubai now serving as a commercial center for these operations. Recent research from blockchain intelligence firm TRM Labs highlights that the Zanjani network has steadily shifted activity from short-lived UK companies to more stable UAE-registered entities.
The list also includes ZedPay, recognized as the group’s primary payment platform. TRM Labs had previously linked ZedPay to exchange operations and identified strong ties to Zedxion and related businesses, pointing to payment processing as a core component rather than a peripheral role. Corporate documents and branding further confirmed these relationships.
BZ Diamond DMCC, a precious metals company, is also now under sanctions. Public records connect Bahareh Zanjani to BZ Diamond, with technical infrastructure revealing shared administration among network members. The company’s addition signals OFAC’s willingness to penalize non-crypto businesses if they support sanctioned activity.
ZEDX DMCC, ZedPay, and BZ Diamond have been identified as key elements of the commercial infrastructure supporting Babak Zanjani’s network, according to TRM Labs’ earlier investigations. OFAC’s latest actions reflect the expanding scope of US enforcement against international sanctions evasion.
Mini dictionary: TRM Labs – A blockchain intelligence provider known for tracking illicit activity in crypto networks and providing advanced analytics for government agencies and compliance teams.
Sanctions extend to key network personnelIn addition to targeting businesses, the Treasury sanctioned Mehdi Rezazadeh, the chief executive of ZedPay. Prior research by TRM Labs had identified him as a significant figure within the Zedxion ecosystem. Rezazadeh is reportedly linked to mining investment discussions spanning Africa, Russia, China, and Iran. UK records also show his previous connections to various network-associated companies.
By naming Rezazadeh individually, OFAC signals a shift in enforcement focus, seeking increased accountability for executives as well as their organizations. Reports from TRM Labs indicate a pattern of shared leadership and personnel moving throughout the group’s entities in crypto, payments, and logistics.
Diversified operations and evolving structuresTRM Labs documented how the Zanjani network adapted by cycling through various corporate formations. UK-based companies often became inactive or adjusted their leadership, replaced by new business entities in differing jurisdictions. Despite these legal changes, much of the network’s digital and technical infrastructure stayed remarkably consistent. Domain registrations and technical oversight frequently carried over across renewed companies.
The group’s activities reach beyond cryptocurrency exchanges, touching aviation, rail transportation, commodity trading, travel, and precious metals. While each company appears autonomous, together they form a risk-spreading structure that endures regulatory scrutiny and company closures.
TRM Labs advocates for investigative strategies that go beyond tracking blockchain wallets and exchange activity. The firm recommends combining on-chain analysis with reviews of corporate records and domain registrations, arguing this approach is necessary to understand the full scope of modern sanctions evasion.
The US Treasury’s latest actions reflect what authorities view as a more realistic understanding of complex global financial networks, signaling that enforcement will address not only point-of-sale crypto activity but also broader commercial and technical support systems underpinning sanctioned operations.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Bitcoin price and equities are dropping amid Trump’s tariffs. With reciprocal tariffs, stock and futures are falling rapidly, wiping out over $3.1 trillion in 48 hours. Meanwhile, the BTC Bull presale has raised over $4.4M while offering 95% APY staking rewards.
The Bitcoin and crypto markets remain under intense selling pressure at press time. After two days of tumultuous selling, the world’s most valuable coin is trading below $85,000. A bounce to $88,500 was quickly countered by sellers who took advantage of higher prices to sell, reaping significant profits from their activity.
Bitcoin Price and Altcoins Slump as Crypto Liquidation Spikes According to Coingecko, the total crypto market is down 2.5% to $2.75 trillion. Bitcoin, Ethereum, Cardano, Solana, XRP, and some of the best cryptos to buy are still struggling for momentum.
Notably, Ethereum is trending below $2,000, down nearly 6% in the past week of trading but still outperforming XRP, down 9% in the same period.
The biggest loser in the top 10 is Solana, down 13%, closely followed by Dogecoin. Interestingly, Tron is the top performer, turning green over the past seven trading days and wriggling back into the top 10.
Data from Coinglass reveals that over $110 million of Bitcoin and Ethereum long positions were closed on multiple perpetual exchanges, mainly Binance and Bybit.
Over $240 million of leveraged longs were liquidated, and over 108,000 traders were liquidated. The single largest liquidation order was recorded on Bybit, where a $3.25 million BTCUSDT position was closed.
Markets Digesting Impact of Trump’s Tariffs Stability at the moment could be the calm before the storm. On a positive note, it also signals strength and hope that crypto assets could become fluid alternatives that are useful as a store of value.
On April 2, Donald Trump announced reciprocal tariffs on several countries, including allies in Europe, Africa, and Asia. The shockwaves from America’s “Liberation Day” reverberated through financial markets, specifically wreaking havoc on equities and wiping trillions from some of the leading technology firms.
Apple, Nvidia, Alphabet, and other top technology companies have been down double digits over the last week, posting massive market cap losses. Within two days, it is estimated that equities in the United States lost over $3.1 trillion, and the figure could rise if Donald Trump remains adamant.
US stocks lose roughly $3.1 trillion in market value, their largest one-day decline since March 2020, a day after Trump announced new tariff plan that is billed to trigger global retaliation.
TRT World's Frank Ucciardo has more from Wall Street, New York pic.twitter.com/XwDkPydB20
— TRT World Now (@TRTWorldNow) April 4, 2025
BTC Bull Presale: A New Opportunity? Amid this market uncertainty, savvy investors are diversifying and actively exploring fresh opportunities.
They note that the BTC Bull presale is one of the hottest presales to consider in 2025.
In its viral presale, the project has raised over $4.4 million.
The interest lies in its unique approach.
BTC Bull aims to blend the appeal of meme coins with the potential of Bitcoin.
At key Bitcoin price milestones, they will distribute free BTC to BTCBULL holders. There will also be a token-burning plan to ensure BTCBULL is deflationary.
Free BTC will be airdropped once Bitcoin reaches $150,000. More free coins will follow at $200,000 and $250,000.
Meanwhile, BTCBULL token burning starts when Bitcoin hits $125,000, and after every $25,000 increment, the project will remove more tokens from circulation.
Currently, BTCBULL is trading at $0.002445; you can buy it using USDT, Ethereum, or even bank cards. Although you can purchase directly from the homepage, analysts recommend using the Best Wallet app.
Afterward, you can stake and receive a 95% APY, a superior yield that allows early investors to earn passive income.
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DISCOVER: Top Solana Meme Coins 2025: 7 Best Buys Updated
Bitcoin Price, Equities Crash on Trump Tariffs, BTC Bull Presale Trending Bitcoin price stuck below $85,000 as Trump tariffs weigh down markets Crypto liquidation spikes in 48 hours, over $240 million leveraged positions closed Trump tariffs wipe over $3 trillion from U.S. equities BTC Bull presale raises over $4.4 million. BTCBULL staking offers 95% APY #Presales
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When Bitcoin began gaining prominence, few bodies were as concerned as the United States’ Securities and Exchange Commission [SEC]. A currency that is not tethered to a single person or entity, operating on something that cannot be shut down, and plied by a technology that is immutable, irreversible and transparent, it was the perfect problem for regulators.
From being touted as the currency of the Dark Web, to having derivatives contracts in its name being traded on the CBOE and CME, the regulatory journey of Bitcoin has been like no other. One would think regulators have eased their concerns with cryptocurrencies, but things were just getting started.
ICO: Initial Coin Onslaught Regulators were not immediately taken aback by the 2017-price surge. Instead, they remained on their toes and began a severe crackdown on the digital assets market.
In 2019, many crypto-entrepreneurs began registering their issuances as “tokens” and hence, escaped the regulatory hassle that would follow a security registration, which was when the SEC began to take a closer look. Stephanie Avakian, the SEC’s Co-director of Enforcement, said in a statement following one such case,
“We have made it clear that companies that issue securities through ICOs are required to comply with existing statutes and rules governing the registration of securities…we continue to be on the lookout for violations of the federal securities laws with respect to digital assets.”
Some were genuine cases, however, there were multiple cases of deliberate manipulation. Take the case of Maksim Zaslaviky, who raised money for two separate projects, “RECoin” and “Diamond,” tokens allegedly backed by real estate and diamonds. Zaslaviky pleaded guilty to the charge of conspiracy to commit securities fraud and argued that laws surrounding digital currencies were “unconstitutionally vague.”
Jay Clayton, the SEC’s Chairman, made it clear that the SEC will not budge on the definition of a “security.” Months after clarifying that all ICOs are securities and “if it’s a security, we’re regulating it,” Clayton stated,
“If you have an ICO or a stock, and you want to sell it in a private placement, follow the private placement rules. If you want to do any IPO with a token, come see us.”
In fact, the ICO fervor got so tense that the SEC created a new role to oversee cryptocurrencies. Valerie Szczepanik, who previously served in the SEC’s cyber-unit, was given the brand new position of Associate Director of the Division of Corporation Finance and Senior Advisor for Digital Assets and Innovation. In the SEC’s press release, her role was defined as,
“Ms. Szczepanik will coordinate efforts across all SEC Divisions and Offices regarding the application of U.S. securities laws to emerging digital asset technologies and innovations, including Initial Coin Offerings and cryptocurrencies.”
SEC’s home turf Due to increased regulatory oversight of the SEC, projects began leaving the US in search of other markets. The main concern for entrepreneurs was the definition of their issuance and if that would lead to the SEC stepping in, especially if they confer a “security” tag. Robert Greene, a former member of the Chamber of Digital Commerce’s Token Alliance, told Longhash,
“The SEC’s regulatory posture has certainly driven projects seeking to conduct an open digital token offering to locate outside of the United States.”
Some projects went a step further. BitTorrent, which saw its early-2019 token sale finish in 15 minutes and generated $7.1 billion, restricted US residents from taking part, owing to increased regulatory scrutiny.
The ICO craze didn’t continue to 2019, particularly in the US. As seen in the chart below, the number of projects from January 2018 to November 2019 almost dropped to 0.
Token Problem The setting in 2018 was vastly different from the one in 2019. ICOs were on a decline, moving to the premise of Initial Exchange Offerings [IEO] where internal governance of partnered exchanges come into play, rather than external regulation. The SEC’s focus hence waned from nabbing ICO criminals to defining a “token.”
Even though issuances present different regulatory cases, they’re unified by a common theme – the SEC is concerned not with the tag “security” or “token,” but the underlying means of fundraising and its purpose, said Chainalysis’ Chief Technical Counsel, Michael Moiser.
In a joint statement, the three most important financial regulatory bodies of the United States – the SEC, the Commodity Futures Trading Commission [CFTC], and the Financial Crimes Enforcement Network [FinCEN] reiterated this principle,
“As such, regardless of the label or terminology that market participants may use, or the level or type of technology employed, it isthe facts and circumstances underlying an asset, activity or service, including its economic reality and use (whether intended or organically developed or repurposed),that determines the general categorization of an asset.”
Four token issuances which caught the SEC’s attention and set the stage for regulation were – Block.one, Telegram, Kik, and Blockstack.
Block.one’s EOS
A previous piece covering Block.one’s regulatory issues can be found here.
Block.one was fined $24 million by the SEC for its EOS token sale in 2017-2018. The Brendan Blumer-led company clarified that the fine pertained to ERC-20 tokens issued on the Ethereum blockchain which are “no longer in circulation or traded.”
Stephen McKeon, Associate professor of finance at the University of Oregon and former Chief Strategy Officer at Security Token Academy, told AMBCrypto that this is an issue of “transitional securities,” based on when the token sale occurred and when the fine was imposed. He stated,
“The settlement could affirm the viewpoint that a network’s token should always be offered as a security during an initial raise, but a future sale of that asset might later be deemed to fall outside of securities laws once the asset’s network is “sufficiently decentralized.”
In relation to the Howey Test, once a network is “sufficiently decentralised,” it would not satisfy two of the determining factors and hence, “what was once a security is no longer treated that way by the SEC,” clarified McKeon.
Like the case of EOS, cryptocurrencies can essentially fall out of the “security” definition if it “evolves,” according to the SEC’s Director of Corporation Finance, Bill Hinman. Clayton seconded the ‘Hinman doctrine’ in a letter to cryptocurrency advocacy firm, Coincentre, stating,
“A digital asset may be offered and sold initially as a security because it meets the definition of an investment contract, but that designation may change over time if the digital asset later is offered and sold in such a way that it will no longer meet that definition.”
Telegram’s GRAM
The SEC halted Telegram’s GRAM token sale less than a month before its opening. Telegram told investors that discussions with the federal agency had been ongoing for eighteen months. Yet on 11 October, the SEC filed an emergency action against the platform for “conducting an alleged unregistered, ongoing digital token offering in the U.S.”
Steven Peikin, Co-director of the SEC’s Division of Enforcement, stated,
“Telegram seeks to obtain the benefits of a public offering without complying with the long-established disclosure responsibilities designed to protect the investing public.”
Moiser said that the case of Telegram directly ties to the SEC, CFTC and FinCEN’s joint statement [issued on the same day as the Telegram complaint], and is based on ‘function, not label.’ Next, the coming together of messaging and token sales is a case in its own regard, and hence, the SEC took the extra measure. Moiser added,
“The messaging app-to-crypto token space is an important one to watch, for fast adoption through existing networks, as well as natural synchronicity with privacy-oriented users.”
Telegram’s use as a covert-messaging device was also a concern. The Chainalysis CTO added that the messaging application came in for far more “scrutiny” owing to its alleged use by “nefarious actors.” The privacy messaging platform is the “number one source for terrorist organizations online,” according to Steven Stalinsky, Executive Director of the Middle Eastern Media Research Institute [MEMRI], a think-tank that released a 253-page report on how terror-outfits’ use of GRAM could be a “security threat.”
Moiser was surprised that Telegram, with its deep pockets and ability to put forth a strong legal team, could not, at the very least, avoid a “temporary restraining order.” He stated,
“Given their resources, knowledge of the publicly stated illicit finance concerns and ability to work through these issues in advance with regulators before market actions, the impact on investors from them not doing so makes this important in an unfortunate way.”
Kik’s KIN
In 2017, Kik, another lesser-known messaging platform, issued a token sale for their crypto Kin, raising $55 million from US investors in the process. Kin’s sale commenced during a period when the messaging service saw little use. The same was attested in the SEC’s June 2019 filing.
The crux of SEC’s complaint follows previous cases, stating that Kik “sold the tokens to U.S. investors without registering their offer.” The complaint was further divided into two parts – the value and the promotion. The value at the time of the complaint was “about half of the value that public investors paid in the offering.” Secondly, the SEC alleged that Kin was marketed as an “investment opportunity.”
Kik further told investors that a “profit” could be expected from their investment, which, according to the Chief of Enforcement in the Cyber Unit division of the SEC, Robert A. Cohen, satisfies the Howey Test. He stated,
“Future profits based on the efforts of others is a hallmark of a securities offering that must comply with the federal securities laws.”
Months after the complaint, Kik hit back, stating that the regulator has made a consistent effort to “twist the facts” by “misrepresenting the documents and testimony” gathered. Kik demanded a Jury trial and detailed 200 points of clarification against the SEC’s initial complaint.
The tussle got so heated that FT called it the “acid test for whether certain digital tokens count as securities.” It was hence, one of the most pivotal regulatory cases of 2019.
Blockstack’s STX
In July 2019, Blockstack saw its token offering – Stack [STX], approved by the SEC under Regulation-A. This was the first case of token issuances that was approved by the regulator. An alternative to an IPO, Regulation A is based on two tiers. Tier 1 pertains to offerings up to $20 million within a 12-month window, while Tier 2 has a ceiling of $50 million over the same period.
The case of Blockstack’s approval was hailed as being historical for token issuances under the purview of the SEC. The National Law board stated,
“The SEC’s decision to qualify Blockstack’s offering circular represents a milestone for Blockstack, as well as the blockchain industry as a whole. It is a key step down what may be a viable pathway for companies to raise capital to develop open, cryptographically secured networks powered by digital assets.”
Kraken’s Steven Ehrlich, in a piece for Forbes, stated that Blockstack’s approval was important for three reasons. The $28 million offering will be widespread between retail and institutional investors. Blockstack is ahead on development, having over 170 applications operating on its blockchain. Being over half a decade old, Blockstack belongs to the ‘old-guard’ of crypto-companies and serves as a “good barometer to assess the industry’s progress as a whole.”
With the cases of Kik and Telegram happening before and after Blockstack’s approval, the SEC took a more nuanced view with the blockchain company, compared to the messaging giants. Blockstack’s fundraising could be a “path to SEC-approved IPO-type fundraising with a crypto-token,” stated Moiser. He added,
“While many noted the $2mm that Blockstack spent to achieve this, it sets a precedent and blueprint that can be replicated on the shoulders of that capital investment.”
Lowering of the Iron-Fist
Token issuances were the most important regulatory decisions that the SEC had to make this year, and their approach from 2018 to 2019 has evolved. While in 2018, retail fever was pushing projects towards ICOs, the basket was spoiled by a few bad apples that used the method of raising funds for nefarious reasons, which rightly ushered scrutiny.
Moving on from the iron-fist decisions, the SEC immediately came out and stated that the ‘tag’ is secondary to ‘activity’ and ‘means.’ Four token security decisions dominated the sphere, with the messaging giants getting the short-end of the stick, more so due to other reasons surrounding their issuances, rather than the method itself.
For Kik, it was the financial situation and Kin’s drop in valuation, while for Telegram, it was the platform’s reported use by terror-elements. The regulatory decision for Block.one underlined the case for a more nuanced approach to token regulations, which looked at the lifetime of a token. Blockstack’s case also spelled out the alternative to IPO-means towards securing an SEC green light for crypto-fundraising.
All-in-all, it can be stated that the SEC is looking at the complete picture of token issuance, issuer, network, means, and amount before regulations are meted out.
The Diamond Tokenization SetupBilliton Diamond and Ctrl Alt moved over AED 1 billion ($280 million) worth of certified polished diamonds on-chain in the UAE.
Ripple’s enterprise custody tools secure the physical diamonds, while the XRP Ledger creates digital tokens representing ownership.
Adding to its infrastructure push, Ripple secured full Electronic Money Institution approval from Luxembourg’s financial regulator last week, pushing its global regulatory approvals beyond 75.
This follows recent UK approvals, reinforcing Ripple’s position as one of the most heavily licensed crypto firms.
The Regulatory RoadblockThe broader platform launch requires approval from Dubai’s Virtual Assets Regulatory Authority (VARA).
Until then, the $280 million represents a controlled pilot rather than an open marketplace.
Critical details remain unclear.
The companies did not explain how someone holding a diamond token would redeem it for the physical stone, what the minimum purchase size would be, or how individual stones get priced—all essential for real trading.
Dubai’s DMCC coordinated the project as the emirate positions itself as a hub for tokenizing real-world assets like commodities and luxury goods.
The Trading ChallengeCreating blockchain tokens for diamonds is the easy part.
The harder challenge is building a marketplace where these tokens actually trade with reliable prices and smooth redemptions.
Each diamond is unique, with individual characteristics affecting value—cut, clarity, color, and carat weight.
This makes pricing more complex than tokenizing gold or oil, where units are identical and fungible.
The companies acknowledged this hurdle, mentioning a longer development timeline for features like custody transfers and secondary-market trading.
However, without concrete plans for redemption mechanics and pricing, questions remain about moving beyond the pilot phase.
Image: Shutterstock
Market News and Data brought to you by Benzinga APIs
Dubai is taking a bold step in luxury and finance as Billiton Diamond and Ctrl Alt announce a new initiative to put polished diamonds on the blockchain. The project has already tokenized more than AED 1 billion (over $280 million) worth of certified diamonds held in the UAE, making it one of the largest real-world asset tokenization efforts to date.
The partnership aims to transform diamonds—traditionally illiquid and difficult to verify—into transparent, secure, and easily transferable digital assets. Ctrl Alt is responsible for converting the physical diamonds into blockchain-based tokens, while Ripple’s custody technology ensures ownership remains safe, auditable, and tamper-proof.
The tokenized diamonds are issued on the XRP Ledger (XRPL), chosen for its fast settlement speeds and low transaction costs—key advantages when handling high-value luxury assets. Each token is backed by a certified physical diamond stored securely in the UAE, with full traceability and real-time verification.
Billiton plans to launch a dedicated digital platform where buyers and sellers can view diamond inventory, certification records, and ownership details instantly. The platform may later enable regulated secondary trading, opening the door for improved liquidity and faster settlement for manufacturers, traders, and investors.
DMCC has played a central role by connecting stakeholders and guiding the regulatory framework, reinforcing Dubai’s growing leadership in blending physical commodities with advanced financial technology.
Executives from Billiton, Ctrl Alt, DMCC, and Ripple describe the initiative as a new benchmark for bringing high-value assets on-chain. Crypto analyst WrathofKahneman called it a major step forward for real-world asset adoption, while Bill Morgan joked that although his wife can’t wear a tokenized diamond, she might still want one.
Never Miss a Beat in the Crypto World!Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.
FAQsWhat is diamond tokenization and how does it work?
Diamond tokenization converts physical diamonds into digital tokens on blockchain, allowing secure, transparent, and tradable ownership.
How does tokenizing diamonds benefit investors?
It increases transparency, reduces costs, and improves liquidity by making diamonds easily tradable digital assets with clear provenance and ownership records.
Is tokenized diamond trading regulated in Dubai?
Yes, all trading of tokenized diamonds will require approval from Dubai’s Virtual Assets Regulatory Authority (VARA), ensuring compliance and investor protection.
Story Ends Here
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Rubio: US and Iran to continue technical consultations at the end of this month
Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)
6 hours ago
Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.
According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.
6 hours ago
Bitcoin falls below $60,000
According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.
6 hours ago
US Treasury Secretary: AI boom may boost productivity and help curb inflation.
US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.
6 hours ago
US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.
According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.
6 hours ago
During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.
According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.
Institutional ownership of U.S. spot Bitcoin ETFs (exchange-traded funds) changed only slightly despite BTC’s price decline of 23% in Q4 2025.
According to aggregated data from 13F filings with the SEC, institutional holdings dropped from 532K BTC (Q3 2025) to 513K BTC (as of Q4 2025)—a 19K BTC decline.
This translated to a 3.5% decline in the institutional holdings of BTC.
Source: X/Root Overall, institutions still held over half a million BTC.
With the asset entering a bear market phase in early 2026, it will be interesting to gauge whether institutions can be diamond hands in an extended crypto winter.
The U.S. spot BTC ETFs debuted in 2024, right at the onset of this cycle’s bull run. BTC price went parabolic afterward, surging from $40K to $72K, then to $100K, and finally topping out at $126K.
This marked a +220% run since they debuted.
However, BTC’s pullback worsened in 2026, halving its value. In fact, it broke below the average cost basis of BTC ETFs of $84.1K.
Now, the average ETF holder is about 20% underwater based on the press-time BTC price of $68K.
Since this is the products’ first crypto winter, it’s unclear whether the ETF investors will still hold during the capitulation. The 13F filings for Q1 2026, set to be released in Q2, will help shed light on their action.
Institutional vs. retail Bitcoin: ETF share From a dominance perspective, the retail still commanded the U.S. spot BTC ETF holdings. Of the 1.27 million BTC held by ETFs, over 700K BTC are held by retail investors.
Source: X/Root Although institutional holdings have been rising since 2024, climbing 10% to a high of 40% by Q3 2025, they stagnated in late 2025.
However, compared with Q3 2025, institutions’ dominance slipped only 1%. So, despite retail still commanding the market share, institutions were still holding the line.
But based on the number of firms holding BTC ETFs, there was a 14% fall. Firms that reported owning BTC ETFs decreased from 2173 to 1867, the highest drop since 2024.
Source: X/Root Even so, 17 out of the top 25 institutional BTC ETF holders increased their exposure in Q4, including major banks (JPMorgan Chase), sovereign wealth funds (Mubadala), and asset managers (BlackRock).
Overall, the institutional share of BTC ETFs was unchanged last year. But it remains to be seen whether they’ll remain diamond hands after crypto winter in Q1 2026, especially with current ETF outflows rivaling Q4 levels.
Source: Glassnode Final Summary Institutional share of BTC ETFs was unchanged in Q4 2025, dropping only 1%. More than half of the top 25 BTC ETF holders increased positions last quarter.
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In major XRP news today, Ripple-backed Ctrl Alt completes the diamond tokenization deal with Billiton Diamond. Ripple executive Reece Merrick confirmed that the tokenized assets are now live on XRP Ledger (XRPL).
XRP News: $280 Million in Diamonds Are Now Tokenized on XRPL Reece Merrick, Ripple managing director for the Middle East & Africa, has highlighted the successful completion diamond tokenization deal between Dubai-based Billiton Diamond and tokenization firm Ctrl Alt.
More than $280 million (over AED 1 billion) worth of certified polished diamonds are now tokenized on the XRPL. This RWA tokenization project bridges commodities with blockchain by leveraging Ripple’s enterprise-grade custody infrastructure.
“The tokenization of 1 Billion+ AED in diamonds by Ctrl Alt and Billiton Diamond isn’t just a win for the UAE, it’s a masterclass in how the XRP Ledger handles high-value RWA at scale,” said Reece Merrick.
He also pointed out how Ripple is solving the “trust gap” in digital commodities. Notably, Ripple Custody is providing bank-grade vaulting and tokenization on the XRPL to turn illiquid luxury goods into tradable assets.
Merrick also spotlighted Ripple and its partners’ work with the UAE’s forward-thinking ecosystem DMCC and VARA to set a global standard.
Ripple-Backed Ctrl Alt and Billiton Diamond Deal Billiton Diamond and Ctrl Alt announced the deal to tokenize diamonds worth $280 million. It uses Ripple’s custody technology to secure the assets and the XRP Ledger to mint tokens tied to physical inventory. In recent XRP news, Ctrl Alt launched tokenized real estate trading after a partnership with the Dubai Land Department.
XRPL offers the advantages of scalability, speed, minimal fees, and regulatory alignment. This move demonstrates XRPL’s growing demand in RWA tokenization. Until now, the value of assets tokenized on XRPL has reached $1.96 billion.
Experts see this as part of a larger trend where luxury and physical goods move on-chain, potentially boosting XRPL usage and utility for XRP. Reece Merrick noted it sets “a new standard for transparency and efficiency in global finance.”
Ahead of crypto options expiry, XRP price is trading more than 3% lower at $1.39. The 24-hour low and high are $1.39 and $1.45, respectively. Furthermore, trading volume has tumbled more than 30% over the past 24 hours.
TLDR: TRON DAO joined DC Blockchain Summit 2026 as a Diamond Sponsor, engaging policymakers on digital asset regulation. Justin Sun delivered a keynote on building unified financial infrastructure combining blockchain and traditional finance. TRON DAO’s Adrian Wall moderated a session on U.S. crypto regulatory clarity alongside Representative Dusty Johnson. TRON DAO hosted a VIP Lounge at Capital Turnaround, creating space for direct policy and ecosystem conversations. TRON DAO joined the DC Blockchain Summit 2026 as a Diamond Sponsor in Washington, D.C. The Digital Chamber hosted the event on March 17–18, drawing policymakers, regulators, and industry leaders.
Discussions covered blockchain regulation, digital assets, and the future of financial infrastructure. TRON DAO used the platform to advance policy dialogue and present ecosystem developments.
The summit marked another step in the organization’s ongoing engagement with U.S. regulatory conversations.
Justin Sun Outlines a Blueprint for a Unified Financial System Justin Sun, Founder of TRON, delivered a keynote on the Main Stage at the summit. The address was titled “Building the Rails for a Unified Financial System.”
Sun described TRON as a foundational settlement layer for the global digital economy. He also positioned the network as infrastructure suited for supporting Agentic AI payments.
Sun stressed that collaboration between traditional finance and emerging technology sectors is essential. He said this cooperation is key to building a unified and interoperable digital asset ecosystem.
The keynote drew attention from policymakers and industry leaders throughout the two-day event. It reinforced TRON’s standing as a meaningful contributor to global financial infrastructure.
TRON participated as a Diamond Sponsor at the DC Blockchain Summit 2026, highlighting its ongoing engagement in policy discussions shaping the digital asset ecosystem.
Hosted by @DigitalChamber in Washington, D.C. on March 17–18, the summit brought together policymakers,… pic.twitter.com/okw2rMXmvU
— TRON DAO (@trondao) March 21, 2026
Sun pointed to the U.S. as a market with a well-established financial infrastructure. He argued that blockchain and AI can help expand such systems into more open digital environments.
“In markets like the US, where financial infrastructure is already strong and well established, blockchain and AI can help expand that system into a more open and programmable digital environment,” Sun said. His remarks reflected the growing convergence of traditional and decentralized financial networks.
Sun further noted that creating the right infrastructure remains the most pressing challenge ahead. He emphasized that a unified financial system must bring together the best of both worlds.
“As we look ahead, the most important challenge is building the infrastructure that allows all parts of the financial system to work together,” he stated.
“A unified financial system will combine the strengths of traditional finance with the openness and efficiency of blockchain networks.”
TRON DAO Shapes Policy Dialogue Through Sessions and On-Site Engagement Adrian Wall, Senior Director of U.S. Policy at TRON DAO, moderated a key Main Stage session. The session, titled “CLARITY: What It Took and What Comes Next,” examined key regulatory milestones.
It covered recent legislative developments shaping the digital asset landscape across the United States. Wall was joined by Dusty Johnson, U.S. Representative for South Dakota (R-SD).
The session gave attendees a direct look at the current U.S. digital asset regulatory environment. Both speakers addressed recent legislative progress and outlined what still lies ahead for the industry.
Their exchange reflected ongoing efforts to establish greater regulatory clarity in the crypto space. The discussion added a policy-driven perspective to the broader summit agenda.
TRON DAO also hosted a dedicated VIP Lounge at Capital Turnaround across both days of the summit. The lounge served as a central hub for industry leaders, policymakers, and community members.
Conversations covered TRON’s ecosystem developments, policy initiatives, and the evolving regulatory landscape. The setting allowed for direct engagement beyond the formal conference sessions.
As shared across TRON DAO’s official channels, its Diamond Sponsorship reflected a firm commitment to active policy engagement.
The organization continues to work alongside governments and institutions toward a more open financial system. TRON DAO remains focused on responsible blockchain innovation and constructive collaboration with regulators.
Its presence at the summit reflected a consistent and ongoing strategy to support the future of digital assets.
PANews reported on April 8th that MEET48 has officially become a Diamond Sponsor of the Hong Kong Web3 Festival. This year's Hong Kong Web3 Festival, co-organized by Wanxiang Blockchain Labs and HashKey Group, will be held from April 20th to 23rd at the Hong Kong Convention and Exhibition Centre (HKCEC). Since 2023, it has become Asia's leading crypto industry event, attracting over 100,000 participants and 350 exhibitors.
As the world's first idol fan economy ecosystem with Web3 as its underlying architecture and deep integration of AI and UGC, MEET48 is building a platform focused on virtual idols and AI-Web5 entertainment.
Previously, MEET48 launched an IDOL token staking program on BNB Chain: from March 19, 2026 to April 18, 2026, users could lock up their IDOL tokens on BNB Chain for 90 days and receive their principal plus a 40% annualized return (APR) after the lock-up period. The program page is now available on the MEET48 website.
The analyst put $1.50 as the trigger: a monthly close above it opens the path to $2.20 and validates the entire setup; failure invalidates it.
XRP is back in the spotlight after a new technical analysis posted on May 4 by EGRAG Crypto claimed a rare “macro diamond” pattern could send the token as high as $183 to $300 over time.
The analysis has gained traction in the XRP community at a moment when the token is struggling to hold above $1.40, and its ETF products are only just beginning to recover from a period of net outflows.
The Diamond Structure and What EGRAG Is Actually Claiming In a post shared on X, EGRAG Crypto argued that XRP is not forming a random structure but a large-scale diamond pattern on the monthly chart, with timing playing a central role. According to the analyst, “price meets time” at specific intersection points, which could dictate when major moves unfold rather than just where price goes.
Per their assessment, $1.50 is the near-term trigger, with a monthly close above that level opening the path to $2.20 and validating the bullish setup, while failure to hold the structure would invalidate it. They outlined two “critical” time windows in April 2027 and April 2028, which they believe could match up with the larger cycle expansions.
The first sequence would see XRP go from $7, $16, $36, $80, and finally $183, while the second, slightly different path aims for $5, $11.50, $24.50, $60, $135, and $300. Recall that the Ripple token managed to snap a 6-month run of losses in April, with even spot XRP ETFs recording their highest inflows in four months.
However, a look at the price charts shows that the asset has barely moved. At the time of writing, it was trading at around $1.40, up less than 1% in the last day and down about 1.4% on the week. Therefore, hitting EGRAG’s upper target of $300 would require XRP to go up at least 200X, with even the more conservative $7 target needing a 5X jump from here, so it’s worth keeping those numbers in perspective.
Market Structure Tells a More Cautious Story The broader technical picture painted by other market watchers is more grounded, with analyst ChartNerd, in a video posted around the same time, pointing to Fibonacci extension levels at $8, $13, and $27 as realistic cycle targets.
You may also like: XRP’s Price Could Explode to $8, But This One Zone Is Holding It Back 5 Reasons Why Bitcoin Just Crashed Below $63K as Liquidations Top $500M XRP’s Biggest Warning Sign Is Still Flashing Despite Easing Whale Activity However, he thinks XRP may first drop to a base somewhere between 70 and 90 cents. “History tells us these deep pullbacks happen first,” ChartNerd said, noting that every major XRP rally since inception has only come after a retest of ascending support levels.
A potential base in 2026 followed by a recovery would still represent a meaningful move from current prices, even if it lands well short of EGRAG’s upper projections.
Whatever the longer-term trajectory, short-term market structure data offer some support for a gradual recovery. An analysis posted Monday by trader CW8900 noted that despite a brief dip triggered by unconfirmed reports of Iranian missile activity near a US warship (later denied by a senior US official), bearish pressure in XRP remained minimal.
“There is almost no increase in bearish bets,” CW wrote, adding that the upward momentum was continuing to build.
PANews reported on May 12 that blockchain security firm SlowMist tweeted that Aurelion Labs' Diamond contract was compromised because the `initialize(address)` function in the SafeOwnable Facet was not protected. An attacker re-entered the initialization, altered the contract owner, and executed `diamondCut` to inject a malicious Facet containing `pullERC20`, thereby transferring authorized USDC assets. SlowMist stated that affected contracts include addresses such as 0x0adc63e7… (victim contract), 0x2e933518…, 0xa90714a1…, and 0xeced2d37…, while the attacker's address was 0x9f49591a3b…, resulting in a loss of approximately 455,003 USDC.
DAO communities collectively manage billions in treasury assets, with Arbitrum DAO alone holding over 3.5 billion ARB tokens through on-chain governance mechanisms. Whale dominance remains a critical challenge, with 1% of token holders controlling 90% of voting power across the major DAO projects studied. Quadratic voting and reputation-based systems are gaining traction as experimental governance solutions to reduce concentrated voting power in DAO community structures. Some crucial DAO governance votes see less than 10 percent of token holders participating, undermining the decentralized decision-making model DAOs are designed for. Artificial intelligence tools are beginning to automate routine DAO governance tasks while maintaining human oversight through circuit-breaker safety mechanisms. Decentralized Autonomous Organizations have moved beyond their initial proof-of-concept stage into a period of active governance experimentation. The concept of DAOs, which use smart contracts and blockchain technology to enable community-driven decision-making without centralized authority, has attracted growing attention from crypto communities exploring alternatives to traditional organizational hierarchies.
Diamond DAO, described on CoinMarketCap as an ecosystem of protocols designed to collect the most valuable assets in DeFi, is one example of how communities are structuring governance around asset accumulation and the distribution of voting power.
The Scale of DAO Governance in 2026 The DAO ecosystem has grown to encompass billions of dollars in treasury assets managed through on-chain governance mechanisms.
According to Webopedia’s analysis of the largest DAOs in 2026, Arbitrum DAO held over 3.5 billion ARB tokens in treasury assets in 2025, making it one of the most well-funded decentralized organizations in the Ethereum ecosystem. Uniswap DAO rolled out its fourth protocol iteration with customizable liquidity hooks, while Aave DAO continues to govern the decentralized lending market.
These figures indicate that DAO governance is no longer an abstract concept but a functioning mechanism controlling significant financial resources.
Platform analytics provider DeepDAO maintains what it describes as the largest verified directory of DAO contributors, tracking treasury movements, governance proposals, membership dynamics, and voting patterns across multiple blockchains, including Ethereum, Polygon, Arbitrum, Optimism, and Gnosis Chain.
Persistent Governance Challenges Despite their growth, DAO communities continue to grapple with fundamental governance challenges. The most prominent issue is whale dominance, where a small number of large token holders can control voting outcomes.
Data from Chainalysis previously found that just 1 percent of all holders controlled 90 percent of the voting power across 10 major DAO projects. A 2026 report from the Blockchain Research Institute indicated that some crucial governance votes saw fewer than 10 percent of token holders participate, as reported by The Currency Analytics.
Voter apathy compounds the whale dominance problem. As Chainlink’s governance analysis notes, many token holders view their assets strictly as utility or value-transfer mechanisms and choose not to participate in governance decisions.
This low engagement results in proposals passing or failing based on a fraction of the total circulating supply, undermining the decentralized ethos that DAOs are designed to promote and uphold.
Experimental Solutions Gaining Traction To address these challenges, DAO communities are exploring governance models that move beyond simple token-weighted voting. Quadratic voting, which exponentially increases the cost of additional votes, has gained traction as a mechanism to reduce whale influence.
Under this system, the first vote costs one unit, the second costs four units, and the third costs nine units, making it prohibitively expensive for large holders to unilaterally dominate voting outcomes in governance proposals.
Reputation-based governance systems represent another experimental approach. Rather than tying voting power exclusively to token holdings, these models incorporate participant contributions, expertise, and historical engagement into governance weight calculations.
According to research published in Frontiers in Blockchain, combining quadratic voting with vote-escrowed tokens may better balance fairness and strategic resistance, though reducing whale influence can simultaneously make collusion easier among coordinated minority groups.
Delegation systems have also become widespread, with platforms like Tally and Agora making it straightforward for token holders to assign voting power to trusted representatives. Snapshot now processes 96 percent of major DAO votes, while Safe secures over $22 billion in treasury assets.
However, delegation introduces its own centralization risks, as a small number of highly engaged delegates can accumulate disproportionate influence over time.
AI Integration in DAO Governance Artificial intelligence is beginning to play a role in DAO governance operations. AI tools can handle routine tasks like treasury rebalancing and proposal summarization, reducing the operational burden on community members.
Most advanced DAOs implementing AI governance assistance use circuit breakers that automatically pause AI actions if they exceed predefined safety limits, ensuring that human oversight remains active over strategic governance decisions.
The integration of AI into governance represents a pragmatic response to coordination challenges facing large DAOs. As organizations scale to manage billions in assets across global communities, the administrative complexity of governance increases proportionally, making automated assistance for routine functions increasingly practical and necessary.
The DMD Diamond Approach to On-Chain Governance DMD Diamond, a community-driven blockchain founded in 2013, illustrates how some projects are implementing on-chain governance as a core protocol feature. The DMD v4 upgrade launched with on-chain governance, fast transaction times, and what the project describes as the first blockchain using cooperative HBBFT consensus supplemented by dPOS-based validator election.
For 2026, the project plans additional services, including a DAO generator tool enabling third-party projects to establish their own DAOs on the DMD Diamond blockchain, with future development priorities determined through community voting and participation.
FAQs What is a DAO?
A Decentralized Autonomous Organization uses smart contracts and blockchain to enable community-driven decision-making without centralized authority or traditional hierarchical management structures.
What is Diamond DAO?
Diamond DAO is an ecosystem of protocols designed to collect valuable DeFi assets, including reserve currencies, tokens backing powerful DAOs, and governance voting power.
What is whale dominance in DAO governance?
Whale dominance occurs when a small number of large token holders control governance voting outcomes, undermining the democratic principles that DAO structures aim to uphold.
How does quadratic voting work in DAOs?
Quadratic voting exponentially increases the cost of additional votes, making it prohibitively expensive for wealthy participants to dominate while preserving the smaller holders’ voices.
What is voter apathy in DAOs?
Voter apathy refers to low participation rates in DAO governance votes, with some critical proposals attracting fewer than 10 percent of eligible token holders.
How are DAOs using artificial intelligence?
DAOs are using AI for routine governance tasks such as treasury rebalancing and proposal summarization, with circuit breakers ensuring human oversight of strategic community decisions.
What platforms support DAO governance activities?
Major DAO governance platforms include Snapshot for voting, Tally and Agora for delegation, Safe for treasury management, and DeepDAO for governance analytics.
References Webopedia – 10 Biggest DAOs in 2026: State of the Industry The Currency Analytics – Crypto Governance Systems Face Major Overhaul as Token Voting Crumbles Frontiers in Blockchain – Editorial: DAO, Governance and Fairness DMD Diamond – Scarce, Secure, Decentralized
Bob Diamond on UK Political Turmoil, Tokenization and Crypto Bill
Bob Diamond, founding partner and CEO of Atlas Merchant Capital, discusses the emerging trend of tokenized real-world assets. Speaking with Bloomberg's Caroline Hyde on "Bloomberg Markets," Diamond also comments on the recent UK political turmoil, the outlook for Middle East markets and the Senate Banking Committee advancing the so-called Clarity Act that would establish the CFTC as the primary regulator for large parts of the crypto industry.
PANews, June 22 – According to a report by Cailian Press, the market experienced a volatile rebound, with a clear divergence between the yellow and white lines, and heavyweight stocks showing relatively strong performance. The combined trading volume of the Shanghai and Shenzhen stock exchanges reached 3.74 trillion yuan, the second highest in history, an increase of 427.1 billion yuan compared to the previous trading day. On the market, hot spots rotated rapidly, with over 2,900 stocks rising across the entire market. By sector, the broader financial sector surged, with GF Securities, Changjiang Securities, China Securities, and New China Life hitting the daily limit up. The non-ferrous metals · zirconium concept continued its strong momentum, with Changyu Group achieving 4 boards in 5 days, Aidite and Orient Zirconic hitting 2 consecutive boards, and Triumph Science & Technology achieving 2 boards in 3 days. The lab-grown diamond concept strengthened, with Power Diamond and SF Diamond hitting the 20% daily limit up, and Huanghe Whirlwind also hitting the limit up. The chemical sector saw unusual upward movement, with Yuntianhua, Liuguo Chemical, and Chengxing Chemical hitting the daily limit up. On the downside, the semiconductor equipment sector fluctuated and pulled back, with Wavelength Opto-Electronic, Forecam Optics, and Qiangyi Co. all declining. At the close, the Shanghai Composite Index rose 1.78%, the Shenzhen Component Index rose 2.13%, and the ChiNext Index rose 2.52%.
Spot Bitcoin (BTC) Exchange-Traded Funds (ETFs) have shown strength amid the crypto market’s correction and the flagship crypto’s latest performance. Some experts have praised investors’ resilience, suggesting that the “real story” is not in the recent outflows.
ETFs Investors Hold Strong Despite Market Downturn On Thursday, Nate Geraci, co-founder of the ETF Institute, affirmed that Bitcoin ETF investors have “largely displayed diamond hands” during the recent crypto market downturn.
The flagship crypto has seen a 48.2% correction from its October 6, 2025, all-time high (ATH), recording five consecutive months of strong bleeding after the October 10 market crash.
Since then, spot BTC ETFs have seen about $6.5 billion in outflows, the expert observed, which he considers a “drop in the bucket” compared to the $55 billion in cumulative total net inflows that the category has seen since launching in January 2024.
It’s worth noting that crypto-based investment products have seen five weeks of outflows this year, with Bitcoin having the weakest sentiment among major assets amid the negative market sentiment of the past month.
According to SoSoValue data, BTC funds have recorded $3.81 billion in net outflows since January 23, starting the week with $203.82 million in outflows on Monday.
However, Geraci highlighted potential renewed demand for the investment products as the category sees a three-day streak of consistent inflows. Notably, Bitcoin ETFs have seen over $1 billion in inflows over the past three days, setting the stage for their potential biggest week since mid-January.
The ETF expert emphasized that 50% drawdowns “are a walk in the park for long-time BTC investors,” but observed that newer ETF investors also appear unfazed by the current market conditions.
“Not first time btc has experienced 50% decline & likely won’t be the last. ETF investors clearly aren’t panicking, though. Apparently buying the dip,” he wrote on X.
Bitcoin ETFs Strength Is The ‘Real Story’ Bloomberg Intelligence Senior ETF Analyst Eric Balchunas backed Geraci’s comment, praising the remarkable performance of spot Bitcoin ETFs over the past two years.
“As an ETF watcher, you know just how absurd this strength amid a 50% drawdown,” Balchunas stated. “This is the real story, vs focusing on the $6b that came out, which most stories do.”
“Further, the narrative that crypto is ‘paying the price’ for getting financialized is absurd. $55b in net new cash in two years is the opposite of paying the price,” he added on X.
In a recent interview, the senior analyst observed that the amount of Bitcoin held by ETFs is only down around 6% despite the market pullback. He noted that these types of corrections happen to every asset, including bonds and stocks, before recovering.
Stocks have the same thing. Every time stocks go down, I remind myself and then other people that stocks have a 100% perfect record of coming back to hit all-time highs from a downturn. So, why would I worry that much, right?
Balchunas affirmed that these assets can have “really horrible streaks, but then when they come back around, the flows come back.” He concluded that the price volatility and the negative market sentiment are “the cost of the holy grail returns that most people have gotten.”
Bitcoin trades at $65,366 in the one-week chart. Source: BTCUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com
