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Blockchain firm Tron has taken another step to encourage cryptocurrency adoption. This time, it has partnered with Digital money transfer company Metal Pay to enable instant buying of TRX in the United States.

Henceforth, U.S based TRX fans can easily buy the token on the Metal Pay mobile app using their Visa debit cards or checking account. TRX can also be used to exchange the over 20 cryptocurrencies that are supported on the app.

Metal Pay provides cutting edge technology for its users to instantly send money to friends and family using their phone number. The app rewards users with the Metal native token, MTL which can be easily converted to the U.S Dollars when they carry out eligible transactions. Henceforth, Tron users in the U.S will also get 5% cashback in MTL tokens on eligible transactions as an incentive when they send and receive USD with the app.

The simple user interface and ease of sending and receiving money allow even users with the least experience in the use of cryptocurrencies to seamlessly use the app to buy and exchange TRX.

Metal Pay currently supports major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) which can be used to trade TRX all within the app. This provides the convenience that the Tron ecosystem seeks to bring to its users and developers as confirmed by the platform’s founder and CEO, Justin Sun. In his words, he said:

 

“Whether it be for users or developers, we care about convenience before everything. We will always serve our community by providing users with secure, fast, and simple access to TRX. With Metal Pay, we have created the fastest TRX transaction infrastructure while maintaining world-class security.”

The Founder and CEO of Metal Pay, Marshall Hayner in his own statement said Tron’s huge potential as a blockchain company is what drives Metal Pay to collaborate with it to build a better ecosystem for the future.

”I believe that TRON shows incredible promise for blockchain technology and decentralized systems, and I’m excited for the chance to work with them as we build the future,” he said.

At a time when contactless payment is being encouraged by the World Health Organisation to curb the spread of the dreaded COVID-19 pandemic, this partnership couldn’t have come at a better time for TRX users.

Also, it will further widen the reach of cryptocurrency in the U.S and in general as more people get to interact with digital assets. Tron has a mission to decentralize the web and make digital currencies available for all to access and this is a great step towards achieving this goal.

PANews reported on May 14th that the Compound Foundation stated that, following collaboration with the Aave and KelpDAO teams, all WETH and wstETH Comet positions involved in the rsETH vulnerability exploit were closed over the weekend, and all rsETH held by the attackers has been transferred to DeFi United. Compound stated that this swift action effectively mitigated market risks and protected the protocol's suppliers and reserve funds. Transfer restrictions on Ethereum WETH and wstETH Comet have now been lifted, and all Comet markets have resumed normal operation.

In brief Standard Chartered forecasts AAVE will rise ~50x from ~$70 earlier Wednesday to $3,500 by the end of 2030. The bank believes Aave has moved past an April liquidity crunch that halved deposits, and expects the token to track a projected 37x growth in DeFi assets by 2030. The bullish case depends on unproven steps, such as Aave Horizon through new partnerships with traditional finance firms. Analysts at Standard Chartered are betting big on Aave, one of the largest lending platforms in decentralized finance (DeFi), projecting that its native token could surge nearly 50 times from current levels by the end of the decade—a forecast that arrives just months after the protocol was rattled by a major ecosystem exploit.

In a research note released Wednesday, Geoff Kendrick, the bank's global head of digital assets research, initiated coverage of Aave's token (AAVE) with a price target of $3,500 by the end of 2030—up from roughly $70 when the report was released Wednesday morning.

The bank expects the token to climb in stages, reaching $180 by the end of this year before accelerating to $600, $1,200 and $2,200 over the following three years before hitting the aforementioned projection.

AAVE hit an all-time high price above $661 back in 2021, but hasn’t come close to that mark since, despite rallying to nearly $400 in late 2024 following President Donald Trump’s reelection.

The optimism follows a rough stretch for Aave, which automates lending and borrowing without human middlemen. An April theft of $291 million from a smaller DeFi platform, KelpDAO, spilled over into Aave, impacting liquidity while spooking many DeFi users into withdrawing their assets altogether.

Deposits on the platform have roughly halved since, falling from $44 billion to $23 billion, while active loans have similarly fallen from $18 million to $9.5 billion in the same span. Aave's share of the broader lending market has slipped to 38% of deposits, Standard Chartered said, down from an average of 59% in the year before the incident.

Standard Chartered argues that the damage has largely run its course, pointing to a new risk framework proposed by Aave founder Stani Kulechov and a recent uptick in deposits from a June low. The bank's bigger bet is on the broader trajectory of decentralized finance: It forecasts that the value of tokenized assets deployed in DeFi will grow 37-fold, to $2.7 trillion, by 2030, fueled by the expansion of stablecoins, tokenized real-world assets from TradFi giants, and rising crypto prices.

Because Aave collects fees primarily through the spread between what it pays depositors and charges borrowers, the bank argues its revenue—and by extension its token price—should track that growth closely.

Still, the forecast carries substantial uncertainty. Standard Chartered itself cautions that scaling Aave's institutional lending arm, known as Aave Horizon, is "achievable but not yet proven," and hinges on partnerships with traditional finance firms that have yet to materialize at scale.

Digital asset prices also remain notoriously volatile, with Bitcoin falling to a 21-month low on Wednesday and most other major assets dipping alongside. AAVE rose above $77 earlier in the day, following the report’s release, but then gave up most of the gains as the market sputtered—but it has since topped $79, up nearly 9% on the day as Bitcoin starts to recover.

Alongside its projection of AAVE hitting $3,500 by the end of 2030, Standard Chartered’s report stated price targets of $40,000 for Ethereum (up from $1,614 as of this writing) and $500,000 for Bitcoin (currently $60,831).

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DeFi Total Value Locked Slides Every Month in 2026 to $70 Billion

Vitalik Buterin is one of the most influential people in crypto. He has amassed substantial wealth thanks to his role in creating Ethereum. We calculated his net worth.

Buterin wasn’t rich prior to creating Ethereum. His first major windfall was in 2014. That year he dropped out, at 20 years old, after receiving $100,000 through a Thiel Fellowship. From there his wealth only grew.

The crowdsale for Ethereum began in July of 2014 and raised Bitcoin worth, at the time, $18.3 million. From there, he was able to secure a six-figure salary from the Ethereum Foundation, the non-profit born out of the raise.

However, his main source of wealth is the hundreds of thousands of Ethereum tokens he was able to hold on to from the cryptocurrency’s pre-mine. This gave the foundation and its founders a little under 12 million ETH, which now represents about 11% of the circulating supply.

Though Buterin hasn’t publicly revealed his financial position, his wallet addresses and public statements are enough to get a decent estimate.

Vitalik Buterin’s Cryptocurrency Holdings Looking at his primary wallet addresses, Buterin owns about 352,000 ETH at a current value of $46 million. Between his three main wallets, he also holds ERC-20 tokens worth over $900,000.

These ERC-20s include Augur (REP), Maker (MKR), Kyber Network (KNC), and OmiseGO (OMG).

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However, he also said in February of last year that he held Bitcoin, Bitcoin Cash, Zcash, and Dogecoin worth over “10% the value of my ETH.”

Crypto Briefing calculated his Ethereum holdings on the day of his statement. Though he did not specify the precise investment in each of these coins, we gave each coin an equal allocation of 15% of the value of his ETH, adjusted by historic prices, for simplicity.

Adjusting his Ethereum holdings back to February 2019 levels, his holdings would amount to roughly 2,000 BTC, 58,000 BCH, 140,000 ZEC, and 3.6 million DOGE.

Assuming he held everything, these coins would make up 37% of his portfolio at current prices, or about $35 million.

Since then, the prices for these coins have fluctuated substantially, in line with the massive amounts of volatility in the market. At its peak in early 2018, Vitalik Buterin’s cryptocurrency portfolio was worth well over half a billion dollars.

Today, Vitalik Buterin’s cryptocurrency portfolio amounts to roughly $82 million, composed mostly of Ethereum, Bitcoin, Bitcoin Cash, Doge, and Zcash.

What is Vitalik Buterin’s Salary? Outside of his cryptocurrency holdings, Vitalik Buterin has also disclosed that he earns a six-figure salary from the Ethereum Foundation. The last time he commented about his salary he revealed he was making roughly $144,000 per year.

Though this may seem high to some, Buterin claims he was offered an even higher salary and didn’t take it. “Others in the foundation (ie. the ones who actually decided these salary numbers) offered me $185k at one point; I declined,” he said. For the executive of a multi-billion dollar enterprise this salary seems relatively modest.

Vitalik Buterin’s current salary is estimated at somewhere between $140,000 and $250,000.

Cash and Equity Holdings There’s more to the picture. Buterin also has a substantial portion of his wealth in cash. In March of 2019, in a now-deleted tweet, Buterin said that his “fiat holdings are well under $30m,” attributed to $8 million in charitable contributions he disclosed.

Looking at the rest of his finances, Crypto Briefing estimated his fiat holdings at $12 million, bringing his net worth up to $94 million.

But that isn’t all, Buterin also owns “significant corporate shareholdings” in two companies: Clearmatics and Starkware. Clearmatics is a London-based company designing protocols for DeFi while StarkWare is building privacy software using zero-knowledge proofs.

Buterin did not disclose the exact amount invested nor his equity holdings in each of the startups. To date, Clearmatics has raised $13 million and StarkWare has raised $36 million, according to Crunchbase.

Between his cryptocurrency holdings, cash, and equity, it’s possible to calculate the Ethereum co-founder’s wealth. Vitalik Buterin’s net worth is $100 million.

Disclosure: This article was edited by Mitchell Moos. For more information on how we create and review content, see our Editorial Policy.

The combined trading volumes from Ethereum-based decentralized exchanges (DEXes) rose 53% to an all-time high of $668 million in March 2020. This is according to analytics from Dune.

Interest in DEXes on the rise At the time of writing, the total trading volumes from DEXs stood at slightly over $9 million, pushing weekly volumes to $70.7 million.

Combined, this is down 54% if measured as a trailing 7-days growth.

The three most active DEXes are OX, Kyber Network, and Uniswap, drawing over $6 million in USD terms.

This finding is consistent with a parallel finding from DappRadar that confirmed that Ox, Uniswap, and Kyber Network were the most active.

To be specific, OX had over $3.1 million worth of digital assets traded in the last 24 hours. This represents a market share of 33 percent, almost twice that of Kyber Network which stood at 17.7 percent.

DEX Market Share Ox, Uniswap, and Kyber Network are dominant However, the most interesting observation was the consistency of DEX trading. Over the last year, its growth has been linear and positive sloping.

For example, over the last nine months, volumes have almost doubled from $289 million of July 2019 to $668 million by the end of March.

“DEX volumes landed at an all-time high of $668 million for March! Up 53% from last ATH in February. Interestingly, it’s the first time DEX volumes are soaring on a falling ETH price.”

https://twitter.com/DuneAnalytics/status/1245272765009203205

During this time, ETH prices fluctuated widely. After peaking in June 2019, bears took charge and forced a sell-off towards $130.

However, prices recovered in Dec 2019, rallying to around $290 before falling back to lows of $110 in March.

The growth, therefore, is amid a steep decline in ETH prices, a positive development.

Coincidentally, the drop was at the backdrop of drying liquidity in centralized exchanges.

DEX challenges and benefits Although dominant and scalable unlike DEXes, most of which are based in Ethereum and its scalability dependent on the network’s throughput, traders seem to have refrained from placing orders as asset prices took a beating from Mar 12-13.

Nonetheless, DEXes are secure than centralized versions as Binance or Coinbase. Traders have full control of their assets.

Posted: April 2, 2020

The prices of many altcoins dropped significantly post the market crash on 12 March. However, many are still optimistic that the coins will put up a good show through the course of 2020. Cardano’s Charles Hoskinson, for instance, is of the opinion that Cardano will outperform Bitcoin, Ethereum, XRP and every other blockchain in the industry by the end of 2020.

Cardano

There might be a lot of positive sentiment around Cardano, but one look at the coin’s price chart might suggest otherwise.

Cardano has been trending downwards since 13 February. The coin saw another major drop on 7 March [65% drop], a movement that continued following the market crash on 12 March. However, the coin rose up within 3 days by 64% and it has since, been maintaining the support at $0.02.

There is a symmetrical triangle pattern being formed in the above chart, a development that indicated that the price might break out in either an upward or downward direction. However, the Awesome Oscillator indicator resting above the zero line with green bars confirmed an upward breakout.

Resistance: $0.035, $0.042, $0.052
Support: $0.023,$0.024, $0.020

Press time price: $0.031
Market Cap: $812,468,085
24-hour Trading Volume: $93,928,506

ZB Token

The 46th ranked coin on CoinMarketCap had a good start at the beginning of 2020. As seen in the chart above, there was an upward trend seen; however, following 12 March, the price has been on a downward run as it fell by 39% over a period of seven days. Furthermore, the  Bollinger Bands appeared to be contracting, a sign that there might be lower volatility levels over the coming days.

Resistance: $0.30, $0.34, $0.38
Support: $0.23, $0.21, $0.17

Press time price: $0.226
Market Cap: $105,430,787 USD
24-hour Trading Volume: $26,208,469

Kyber Network

Kyber Network’s[KNC] price has been on the rise since the end of December 2019. The network also experienced significant growth in transaction volume, and this might be the pre-effect of the major protocol upgrade scheduled for Q2 of 2020. Looking at the above price v/s volatility chart, it can be seen that the price has been rising upwards since Jan 1, although it experienced a slight glitch post the crash. The volatility levels are also low. Investors seem to be believing in the long-term potential of KNC.

Press time price:$0.434452
Market Cap: $78,163,694
24-hour Trading Volume: $28,299,657

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PANews reported on April 16th that, according to SoSoValue data, expectations of a US-Iran ceasefire boosted market confidence, leading to a general rebound in the crypto market. The GameFi sector performed particularly well, rising 5.38% in the last 24 hours. Among them, Enjin Coin (ENJ) surged 50.96%, and ImmutableX (IMX) rose 9.13%. Meanwhile, Bitcoin (BTC) rose 0.07%, fluctuating narrowly around $74,000; Ethereum (ETH) rose 0.73%, remaining above $2,300.

In other sectors, Layer 2 rose 3.39% in the last 24 hours, with Starknet (STRK) up 8.36%; PayFi rose 2.31%, with XRP (XRP) up 2.87%; Meme rose 2.08%, with SPX6900 (SPX) up 6.63%; AI rose 1.75%, with Siren (SIREN) up 18.99%; DeFi rose 1.35%, with EdgeX (EDGE) up 13.05%; Layer 1 rose 0.88%, with Algorand (ALGO) up 3.59%; and CeFi rose 0.66%, with Gate (GT) up 2.60%.

PANews reported on March 30 that, according to Cointelegraph, Walmart-owned OnePay added SUI, Polygon, and Arbitrum to its cryptocurrency portfolio last Thursday. In the preceding days, the platform had already listed 10 tokens, including Solana, Cardano, BitcoinCash, and PAXGold, bringing the total number of newly added cryptocurrency tokens to more than ten.

OnePay launched its cryptocurrency service in January of this year, initially offering only Bitcoin and Ethereum trading. Ron Rojany, General Manager of OnePay's Core Applications and Crypto Business, stated that the platform will cautiously expand into crypto assets, prioritizing asset demand, liquidity, regulatory clarity, and long-term usability, focusing on meeting users' actual needs rather than chasing popular assets. OnePay positions itself as a US version of WeChat, a super app that already offers high-yield savings, credit cards, loans, and other banking services. Its digital wallet can be used for payments at Walmart physical stores and on the Walmart website.

A new form of digital gold inches closer to debut as NatGold Digital announced on June 2 that its NATG token is ready for European market availability across all 30 European Economic Area member states — following the filing of its MiCA White Paper with the Central Bank of Ireland in April and its subsequent publication under Article 9 of the EU’s Markets in Crypto-Assets (MiCA) regulation on May 7, 2026, per the company’s official press release.

The announcement marks the most significant milestone yet for NatGold Digital, a Miami-based company pursuing what it calls “digital gold mining” — a patent-pending process that tokenizes the intrinsic value of verified, in-ground gold resources rather than physical gold held in a vault.

The distinction is fundamental. Where conventional gold-backed tokens like PAX Gold represent title to stored bullion, NATG represents certified ownership of gold that has not yet been extracted — a structure NatGold positions with its own tagline: “Not Gold. Not Bitcoin. The Natural Evolution of Both.”

BTC's price trends to the downside on the daily chart. Source: BTCUSD on Tradingview Digital Gold On The Blockchain: The MiCA Filing And What It Means The NATG MiCA White Paper was notified to the Central Bank of Ireland on April 3, 2026 — NatGold’s chosen EU regulatory anchor — and published in accordance with Article 9 of Regulation (EU) 2023/1114 on May 7. Per the press release, acceptance of the filing does not constitute approval or endorsement of NATG by any competent authority, nor should it be interpreted as a recommendation or assessment of the token’s merits — standard MiCA disclosure language that applies to all asset-referenced token issuers operating under the regulation’s notification framework.

The specific date of NATG’s European market availability will be announced separately, per the announcement. Under MiCA’s asset-referenced token framework, NATG would be accessible to eligible market participants across all EEA member states under the passporting provisions that allow a single national filing to unlock EU-wide distribution.

Andrés Fernández, CEO of NatGold Digital Ltd., said in the press release that NATG was designed from the beginning as a globally relevant digital asset, and that the international response to the company’s pre-market reservation program reinforced that the NatGold model speaks to audiences well beyond any single country or market.

The Demand Already Documented The pre-market figures provide context for the European ambition. NatGold’s reservation program, which closed to new participants on February 25, 2026, attracted 17,466 individuals across 162 countries reserving a combined 133,518 NATG tokens — representing more than $469 million in gross demand at the prevailing Baseline Intrinsic Value of $3,518 per token at time of closing, per NatGold’s official website.

The institutional infrastructure supporting the launch was completed on May 22, when NatGold announced the engagement of High Ridge Trust as independent custodian — the final component of the NATG tokenization ecosystem ahead of market launch, per an earlier PR Newswire announcement. Karen J. Wendel, President of High Ridge Trust, described the custody structure as designed to support operational integrity and institutional confidence across the ecosystem, per the May 22 release.

This development marks a pivotal moment for the nascent sector’s approach to commodity-backed digital assets in Europe, such as Gold. A MiCA-compliant gold token backed by certified in-ground resources — rather than vaulted bullion — entering 30 markets simultaneously represents a genuinely novel financial product test within the EU’s new regulatory framework, one that could expand how institutional and retail investors access gold exposure in the digital economy.

Cover image from Grok, BTCUSD chart from Tradingview

Today, the Financial Stability Board (FSB) released a document addressing the regulatory, supervisory, and oversight challenges raised by global stablecoins. The document, although only consultative in nature, reveals disturbing plans for a globally coordinated move against stablecoins of all varieties.

The FSB makes ten high-level recommendations addressed to central banks and G20 authorities at the jurisdictional level. More specifically, they recommend a unified global approach to the supervision and regulation of the fiat-pegged cryptocurrencies.

Furthermore, the FSB suggests to authorities that, if they can’t control and regulate fully decentralized stablecoins, they should consider banning them.

FSB Raises Regulatory Alarms Against Global Stablecoins The FSB’s primary focus is on the potential risks that stablecoins could pose to global financial stability, especially those targeted at retail investors. These fiat-pegged cryptocurrencies represent a risk to the financial stability of emerging markets and developing economies, read the document.

Moreover, the FSB argues that global stablecoins could pose significant governance challenges to central banks. The Board seems especially concerned with the macro-financial problems that could arise if, over time, citizens in both advanced and emerging market economies begin favoring stablecoins over existing fiat currencies. 

The guidance is aimed at both advanced and emerging economies. Authorities in advanced economies are primarily concerned with stablecoins designed in a decentralized nature, seeing risks in their reliability as a store of value.

Jurisdictions in emerging market economies, meanwhile, express greater concern about foreign-currency-linked stablecoins substituting national currencies, retail deposits, or safe assets. They’re afraid that this could exacerbate bank runs and disintermediate the traditional financial institutions.

According to the FSB, another potential issue is that under distressed macroeconomic conditions⁠—much like the current coronavirus pandemic⁠—global stablecoins could essentially become a sort of a hybrid retail repo market for U.S. Dollars.

If left unchecked, global stablecoins could have a destabilizing effect on capital flows and local fiat exchange rates⁠—especially so in emerging market economies, argued the international regulator.

Source: Financial Stability Board Who Is the Financial Stability Board? It is important to note here that, even though the FSB lacks formal legal power, its recommendations are still influential. One of its primary mandates is to monitor the systemic implications of financial technology innovations and the systemic risks arising from disruptions to central bank operations.

The Board is hosted and funded by the Bank for International Settlements (BIS). Its members are representatives of ministries of finance and central banks from all G20 member states, plus ten international organizations, including the IMF, BIS, ECB, the World Bank, and the European Commission.

In practice, the regulator holds a tremendous amount of clout.

The objective of the FSB’s recommendations is to help authorities determine how to mitigate the potential financial risks caused by “global stablecoins,” or GSCs.

More alarming, it includes “other crypto assets that could pose risks similar to some of those posed by GSCs because of comparable international reach, scale, and use,” perhaps alluding to Bitcoin.

This isn’t the first reference to drastic action from the FSB. The regulator was asked to come up with specific recommendations on stablecoins back in February.

Recommendations on Stablecoins to Governments and Central Banks The Board makes ten recommendations concerning the regulation of stablecoins, in the aforementioned document. Among them are a couple that may cause alarm in the cryptocurrency community.

“Authorities should have the ability to mitigate risks associated with or prohibit the use of certain or specific stablecoins in their jurisdictions where these do not meet the applicable regulatory, supervisory, and oversight requirements.”

The FSB recommends that relevant authorities should utilize necessary powers to regulate, control and even prohibit any and all activities related to operating, issuing, managing, providing custody, and the trade or exchange related to global stablecoins. 

This could be dire for the likes of Tether and other international stablecoin operators. To make things clear, the FSB defines a global stablecoin as having “ potential reach and adoption across multiple jurisdictions and the potential to achieve substantial volume.” 

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“Authorities should apply regulatory requirements to GSC arrangements on a functional basis and proportionate to their risks.”

Christine Lagarde of the European Central Bank (ECB) refers to this principle as “the golden rule of supervision,” otherwise known as the “same business, same risk, same rules” approach.

This means that cryptocurrency issuers can no longer operate in a gray zone. Stablecoins will now have to play on a leveled playing field, adhere to the same rules as banks, e-money issuers, and large payment processors. 

If central banks determine that particular GSC arrangements fit the definition of a “systemically important payment system,” then they’ll also fall under the Principles for Financial Market Infrastructures or PFMI. 

“Authorities should ensure that there is comprehensive regulation, supervision and oversight of the GSC arrangement across borders and sectors. Authorities should cooperate and coordinate with each other, both domestically and internationally…”

The FSB is stressing the need for global unison in their approach to regulating and supervising stablecoins. The reason why this discussion is taking place at the highest levels of global economic governance is to mitigate possible risks of “regulatory arbitrage.”

In other words, this is the international banking cartel’s way of saying: If someone wants to operate a stablecoin arrangement out of Panama—sure, go ahead. But, they can only sell these stablecoins to Panamanian citizens.

“Authorities should ensure that GSC arrangements have in place a comprehensive governance framework with a clear allocation of accountability for the functions and activities within the GSC arrangement.”

Decentralized and Centralized Stablecoins Both Affected The FSB goes on to explain that the degree of decentralization in GSC arrangements shouldn’t really matter in terms of the demand for regulation, supervision, and oversight.

At the same time, they imply that only permission-based stablecoins should be permitted to operate: 

“Fully permissionless ledgers or similar mechanisms could pose particular challenges to accountability and governance and may not be suitable if regulators cannot be assured that appropriate regulatory, supervisory, and oversight requirements are satisfied.”

If the G20 adopts FSB’s views on this, it could also mean the end of Ethereum-based permissionless stablecoins. The entire DeFi sector shouldn’t be expected to fare much better, either.

“Authorities should ensure that GSC arrangements have in place robust systems for safeguarding, collecting, storing and managing data.”

This is simply the FSB saying that GSC businesses should give the G20 authorities “timely and unobstructed access to relevant data and information” on all stablecoin transactions and users. This it the same way traditional banks operate.

The critical question here is whether stablecoins running on permissionless blockchains are even able to do that.

Do wallet addresses and blockchain transactions count as relevant data and information?

Along the same lines, the FSB proposes that authorities should have the “ability to require a GSC arrangement to be governed in a manner that facilitates effective regulation and supervision, including by prohibiting fully decentralized systems.” 

“Authorities should not permit the operation of a GSC arrangement in their jurisdiction unless the GSC arrangement meets all of their jurisdiction’s regulatory, supervisory, and oversight requirements, including affirmative approval (e.g. licenses or registrations) where such a mechanism is in place.”

In the broader context of the document, “operation of a GSC arrangement” can mean anything from registering a GSC legal entity to the sale of stablecoins to retail investors.

In that regard, if Tether, for example, wants to continue issuing USDT to citizens of G20 member states (or most of the world), they would need to obtain licenses and register with the relevant authorities in each and every G20 country. Given Tether’s current approach towards compliance, this may not prove practical.

The CTO of Tether, Paolo Ardoino, told Crypto Briefing:

“We welcome the Financial Stability Board’s recognition of the role of stablecoins in the global economy, and its consideration of financial technology innovation in the digital asset space.”

For stablecoin businesses like Tether, Circle, Paxos, Binance, and others this could prove dire because the costs of compliance with the above provisions are enormous. This could, more or less, leave banks as the only source of fiat-backed digital currency.

Potential Market Impact on Cryptocurrency In terms of tangible legislation, the FSB’s recommendations, and its consequent impact on Bitcoin, will likely play out over the course of a few years.

In the meantime, it can be expected that central banks will increase cross-border cooperation to achieve greater supervision over stablecoin issuers and dealers.

Through this, the G20 aims to eliminate all feasibility of regulatory arbitrage and diminish what’s left of the regulatory wiggle room still remaining for stablecoin businesses.

As said by Richy Qiao, Chief Business Officer of decentralized stablecoin Ampleforth:

“This is something we’ve expected for a while. Large stablecoins that are centralized or tied to the financial system only work, until they matter. The FSB’s recommendations are inevitable and could result in the future of the entire crypto ecosystem coming under the control of those who control these types of regulated fiat-backed assets.”

Long-term Implications for Bitcoin and DeFi Stablecoins play a leading role in the cryptocurrency ecosystem. The five largest stablecoins account for two-thirds of all trading volume, despite representing less than 4% of the market capitalization for public ledger tokens.

Rather than moving from crypto to fiat in a bank account, which is regulated and cumbersome by the industry’s standards, it’s instead possible to move into a fiat token that runs on a public blockchain. With USD stablecoins dominating the industry, this creates an extra level of efficiency for those in emerging and frontier markets. 

With over 75,000 daily active addresses on USDT alone, the genesis stablecoin only lags behind Bitcoin and Ethereum in terms of adoption. In sum, the most important effect that stablecoins have had on the cryptocurrency markets is improved liquidity. 

USDT on-chain volume by Santiment If the G20 heeds the recommendation put forth by the FSB, the stablecoin ecosystem, as people know it, will face immeasurable peril. 

The first-order effect of this would be a dramatic reduction in liquidity for cryptoassets. The friction between a globally inefficient banking system and cryptocurrency exchanges will introduce hurdles in the timely deployment of capital. 

Exchanges, market makers, and institutional lenders will bear the brunt of the crackdown. Binance’s top five trading pairs use USDT and represent 57% of the exchange’s volume, at the time of writing. 

Given the expected erosion of liquidity, market makers may face diminishing workloads and more risk.

Trading pairs, for instance, would have to take place between two speculative tokens, rather than just one speculative token and one stablecoin pair.

Institutional lenders could see demand for funds dry up. Genesis Capital, an institutional lender, revealed that demand for stablecoins shot up from 9.6% in Q1 2019 to a whopping 37.2% in Q4 2019. 

Loans disbursed by asset by Genesis Capital Of all the niches in crypto, DeFi⁠—which has undue reliance on stablecoins⁠—will be hit the hardest. 

MakerDAO may have its entire business model come under heavy regulation, Compound could be eviscerated, and many of the other value-add services that leverage stablecoins could lose hard-earned traction generated over the last year.

Nine out of the top ten DeFi protocols, by value-locked, rely heavily on stablecoins in their operations. Moreover, exchanges that take advantage of regulatory arbitrage, like Binance, would be nowhere near their current size without stablecoins. 

The other global stablecoins that are likely to fall under intense scrutiny if these recommendations are accepted include Facebook’s Libra, Bitfinex-associated Tether, and Circle’s USD Coin.

However, given the circumstances, this may prove favorable for exchanges, like Coinbase, who have gone great lengths to operate under the grace of U.S. regulators. It may also have the effect of pushing altcoin trading further into the sights of regulators, with more strenuous “anti-money laundering” and “know your customer” requirements, added Qiao.

The impact on the cryptocurrency ecosystem should not be understated. The entire crypto industry would be impacted if stablecoins were outlawed, Bitcoin included.

Pushing private stablecoins out of the game would make the implementation and adoption of central bank digital currencies much easier. As a result, it wouldn’t be far-fetched to think the G20 will favor this proposal.

In some ways, the industry is getting what it asked for—regulatory clarity. Central banks are finally shining a light on the regulatory gray zones that exist in the cryptocurrency markets. Though, this light may be a bit brighter than many would have asked for.

Reporting aided by analysis from Ashwath Balakrishnan. Interviews and supplemental quotes by Liam Kelly and Mitchell Moos. 

Disclosure: This article was edited by Stefan Stankovic. For more information on how we create and review content, see our Editorial Policy.

Ethereum’s Vitalik Buterin Issues Rare Warning About Blockchain Validators

TLDR: Polkadot cut annual DOT issuance by 53.6% in March 2026, introducing a hard supply cap of 2.1 billion DOT. Cosmos IBC is live across 115+ networks in 2026, leading Polkadot in real-world cross-chain transaction volume. IBC Eureka launched in April 2025, enabling direct Ethereum-to-Cosmos connections without wrapping assets. Polkadot ranked first in developer commits in 2026, yet its DeFi TVL remains below $300 million ecosystem-wide. Polkadot and Cosmos both solve blockchain interoperability, but through contrasting engineering models. Polkadot ties connected chains to a central Relay Chain for shared security.

Cosmos lets each chain operate independently through IBC, an open messaging protocol. The choice between them depends on whether a project needs built-in security from launch or full operational control over every layer.

Polkadot Moves Toward Defined Scarcity With Tokenomics Overhaul Polkadot’s architecture relies on a hub-and-spoke model centered on its Relay Chain. Connected application chains, called parachains, inherit validation directly from the Relay Chain. This removes the need to build an independent validator network from scratch.

In March 2026, Polkadot cut annual DOT issuance by 53.6% through OpenGov referendums. Issuance dropped from roughly 120 million to 55 million DOT per year.

A hard supply cap of 2.1 billion DOT was introduced for the first time, with circulating supply already at 1.68 billion DOT.

DOT currently trades between $1.1 and $1.3, with a market cap near $2 billion. Polkadot ranked first in developer commits in 2026.

However, DeFi TVL across its ecosystem remains below $300 million, a gap that persists compared to Ethereum and Solana.

Cross-chain messaging through XCMP is still rolling out in phases as of May 2026. Many chains still rely on the older HRMP protocol in the meantime.

Polkadot also replaced competitive parachain slot auctions in 2025 with a governance-based Agile Coretime system.

Cosmos Expands IBC Beyond Its Own Ecosystem in 2025 Cosmos takes a different path by giving each chain full sovereignty. Every zone runs its own validator set through CometBFT and connects to others via IBC. IBC uses light client connections and avoids token wrapping, bridge contracts, and trusted custodians.

IBC Eureka, launched in April 2025, introduced direct connections between Ethereum and Cosmos chains. No asset wrapping is required.

Expansion to Solana and major EVM Layer 2 networks is planned through 2026, positioning IBC as a cross-ecosystem standard.

As of 2026, IBC is live across 115 or more networks. Active examples include Osmosis, dYdX, and Celestia. Each operates as a fully independent chain built on the Cosmos SDK.

ATOM currently trades between $2.06 and $2.11. Projects like dYdX migrated from Ethereum specifically for the execution control that Cosmos provides.

That control comes with a real cost, though — each chain must attract and maintain its own validator set. Cosmos leads in live cross-chain volume today, while Polkadot continues building toward a more tightly integrated long-term structure.

2026.06.14 10:47:19

On June 14, U.S. Securities and Exchange Commission (SEC) filings show the regulator has formally approved a rule change proposed by NYSE Arca that enables the listing and trading of the T. Rowe Price Active Crypto ETF. An actively managed cryptocurrency ETF, the fund will invest in a basket of digital assets meeting SEC-defined "eligible asset" criteria. While it uses a cryptocurrency index as its benchmark, it will not track that index passively. The filing notes the fund is projected to hold roughly 5 to 15 distinct cryptocurrencies, including major tokens like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, Cardano (ADA), Avalanche (AVAX), Litecoin (LTC), Polkadot (DOT), Dogecoin (DOGE), and Chainlink (LINK). The SEC filing also reveals the fund may hold stablecoins—primarily USDC—as "tokenized cash" during normal operations to cover expenses and rebalance assets, though these will not count toward its core investment portfolio. The approval notice stresses the product must adhere to NYSE Arca’s rules around anti-manipulation, disclosure, liquidity, and risk management. It also requires the fund to have information barriers (often called "firewalls") and position transparency mechanisms in place to uphold market fairness and prevent insider trading. Analysts say this ETF’s approval further expands cryptocurrency’s footprint within the traditional financial sector, marking the arrival of actively managed multi-crypto ETFs as tradable products under mainstream regulatory oversight.

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One altcoin that helps holders earn yields is seeing its own value soar even as the broader crypto markets try to shake off a recent slump.

Decentralized finance (DeFi) protocol Yearn.Finance (YFI) offers lending and trading services so users can optimize their crypto asset earnings.

[adinserter block="1"]

The YFI token’s price jumped by 50% virtually overnight after word spread that Yearn had gone on a major shopping spree buying back its own token.

Yearn says in a tweet to its 159,200 followers,

“Yearn has purchased $7,526,343 worth of YFI from the open market. We got 282.4 YFI (0.77% of total supply) at an average price of $26,651.

More YFI has been bought back in the past month than in the prior year.”

Yearn reports that its treasury now holds over $45 million and intends to do more buybacks in the future.

In the investing world, companies often do buybacks when they believe their shares are undervalued or to reward existing holders by reducing the total available supply.

The move is paying off in a big way for the Ethereum-based protocol. YFI’s price has surged from a weekly low of $18,877 on Wednesday all the way to $28,802 at time of writing, including a nearly 20% rise on the day.

When Yearn first launched in July of 2020, the YFI token was worth around $30, then skyrocketed to a staggering valuation above $90,000 back in May before crashing down to $33,000 within days.

Like most of the crypto markets, YFI has experienced choppy price action in recent months.

Mon 01 Dec 2025 ▪ 6 min read ▪ by Mikaia A.

Summarize this article with:

They always come back, more inventive, more technical. Hackers have just struck a new blow in the crypto sphere. This time, Yearn Finance is the victim. Outcome: 9 million dollars vanished. Behind the exploit, a bug of rare complexity in the yETH contract. On the surface, a simple swap. In depth, mathematical chaos. And worst of all, this is not an isolated case.

In brief Yearn Finance loses 9 million due to a flaw in a custom swap contract. The technical bug: a division omitted in the calculation of the virtual balance product. The attacker uses temporary contracts to drain assets and obfuscate the trail. A single transaction is enough to pocket 100% of the affected yETH pool liquidity. When arithmetic explodes: a bug worth millions On November 30, a user was able to create 2.35 × 10³⁸ yETH thanks to a subtle flaw in the swap() function of the smart contract. This contract was supposed to maintain a balance rule between tokens. Except a critical division was omitted in the formula. Result: the variable vb_prod ran away. Like a speedometer stuck in overdrive, it deceived the protocol about its own health.

The exploit was confirmed by PeckShield, who alerted in a tweet that nearly 9 million dollars had been lost. Part of the funds — about 3 million in ETH — was sent via Tornado Cash, a famous crypto mixer used to obscure trails. The rest still sleeps in the hacker’s address.

The severity of the bug is not a simple oversight. As Ilia.eth explained on X:

Today’s exploitation of the $yETH pool was not a flash loan type price attack, but indeed a structural collapse of the AMM’s internal accounting. Here is a technical analysis showing how a simple omitted division led to complete protocol drainage.

This flaw painfully recalls the precedent of Balancer, where poor rounding management caused similar chaos. Same cause, same effect: uncontrolled monetary creation followed by a legitimate but destructive withdrawal.

Helper contracts to raze Yearn Finance’s architecture It’s not just the bug that impresses. It’s the attack engineering. In a single transaction, the hacker orchestrated everything: deployment of “helper contracts,” token minting, conversion to ETH, fund transfer, and self-destruction of contracts to erase traces.

According to Blockscout, each helper contract executed a targeted call to the vulnerable function, then sent the ETH to a master wallet before disappearing. A strategy worthy of a heist movie, where the robber erases his digital footprints in the same second he acts.

The key address identified by several analysts is: 0xa80d…c822, currently still holding about 6 million in stETH, rETH, and other Ethereum derivatives.

On X, William Li offers further reading:

The hacker actually did not withdraw all the yETH he created, he only sold part of it in the yETH-ETH pool for 1,000 ETH (about 3 million dollars) — which is far less than the real gain he made (P2).

More than a theft, it is therefore a controlled disintegration of the yETH protocol. And behind the attack, a deep mathematical knowledge, coupled with cold and precise programming talent.

Crypto and trust: when code becomes Achilles’ heel Yearn Finance is far from an amateur project. Yet, the flaw was detected neither by users nor by audits. This is where the matter becomes worrying for the entire crypto market. Because this type of error — a multiplication instead of a division — could exist elsewhere, lurking in other protocols.

The yETH contract structure is a hybrid between Curve and Balancer. Except that instead of recalculating each transaction, it stores an intermediate state (vb_prod) supposed to be updated after each swap. A dangerous practice, according to Ilia.eth:

Storing complex product results (vb_prod) to update them incrementally is extremely risky. Errors accumulate, and the slightest logical bug can remain active indefinitely. It would be better to recalculate invariants from current balances.

The hack revives the debate: should gas economy or rigor be prioritized? One thing is certain: the consequences of a botched trade-off now amount to millions. At Yearn, the time is for remobilization: SEAL911, ChainSecurity, and a post-mortem investigation are already on the front line.

5 key facts about the Yearn Finance exploit  November 30, 2025: date of the hack; $9 million: estimated total losses; 2.35 × 10³⁸ yETH: artificially created tokens; Single transaction: the entire attack happened in one block; Helper contracts: deployed, used, then self-destructed. Calculation errors in crypto do not forgive. And for good reason: it’s not another audit that would have avoided the carnage. Balancer, despite 11 security audits, was also emptied by an almost twin bug. A simple multiplication factor can become a weapon of mass destruction when finance becomes programmable. Protocols have short memory, but blockchains never forget.

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Mikaia A.

La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

Ethereum Volatility Hits Multi-Month Low: Rally Next or Further Downside?

According to historical data, the price of Bitcoin has never posted three consecutive months of positive performance in a bear-market year. This trend is about to continue in 2026, with May looking likely to end in the red for BTC after optimistic performances in March and April, and at the start of this month. Recent on-chain data suggests that short-term investors may also be capitulating amid Bitcoin’s disappointing price action over the past few weeks.

Are BTC’s Short-Term Investors Losing Conviction? In a Quicktake post on the CryptoQuant platform, market analyst RugaResearch revealed that a specific cohort of Bitcoin investors moved a significant amount of BTC in the past day. This set of investors is known as the short-term holders, who are famous (or infamous) for being the most reactive in the market.

Specifically, RugaResearch reported that 107,760 BTC within the 1-month to 3-month Spent Output Age Band moved in a single day, the largest value on-chain movement (within this age band) in more than seven months. For context, the Spent Output Age Bands is an on-chain indicator that segments spent transaction outputs into age brackets, showing the proportion of total coins moved and how long they were inactive.

Source: CryptoQuant The 1- to 3-month Spent Output Age Band tracks Bitcoin purchased between late February and late April (from the beginning of BTC’s recovery to around $80,000 last month). RugaResearch said that when this age band witnesses an aggressive move, like the one recently seen, it means that the most recent investors are reacting rather than accumulating.

The crypto pundit spotlighted that the movement of these 107,760 BTC while the Bitcoin price is sub-$74,000 means that a significant portion of the 1-month to 3-month Spent Output Age Band is out of the money — or near breakeven, at best. While it remains to be seen why this move occurred, this shake-up does not suggest conviction among the most reactive set of investors.

RugaResearch wrote:

Exchange inflows tell you if these coins are heading to sell. If they land on exchanges, this flush has legs. If they’re moving to cold storage or OTC desks, it’s redistribution under pressure.

Hence, centralized exchanges’ data is one of the signals to watch in the coming days to decipher the purpose of this move.

Bitcoin Price Momentum Stays Negative For Eight Days At the same time, RugaResearch revealed a worrying trend with the Bitcoin Price Momentum indicator, which has stayed negative since May 22nd. After rising to a nearly one-year high of +20.5% on May 5th, the on-chain metric dropped by 12.9 percentage points about ten days later.

Source: CryptoQuant After flipping to negative a little over a week ago, the Bitcoin Price Momentum currently sits at 4.07%. “When 1m-3m spent output spikes 6.7x overnight while momentum bleeds for 8 straight days, the positioning game shifts,” the market analyst concluded.

As of this writing, the price of BTC stands at around $73,410, reflecting a mere 0.4% dip in the past 24 hours.

The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView Featured image from iStock, chart from TradingView