According to market data from BIT (bit.com), Circle’s shares rose more than 6% intraday, currently trading at $92.67. Earlier reports noted that Hyperliquid is in discussions with Kraken’s parent company to enter the U.S. market.
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ByteDance's New Stock Guru Takes Over: US Stock Assets Surge 23-Fold in 7 Years, Core Strategy "Buy Early and Hold Steadfast"
The central figure behind the viral story "ByteDance Employee Makes 23x Gains Trading US Stocks", Dexter Yang, posted that over the more than 7 years since he joined ByteDance on January 14, 2019, ByteDance options have appreciated 4.5 to 5 times at the repurchase price, yielding an annualized return of 22% to 24%; based on the company's market valuation (USD 600 billion to USD 1 trillion), they have risen 8 to 13 times, with an annualized return of 31% to 40%. His personal US stock assets have surged 23 times over the same period, delivering an annualized return of 51%. If such returns are not attainable, excelling at work at ByteDance and earning more options is the optimal investment. Career development mirrors investing: it requires taking risks, entering early, staying committed, and achieving exponential growth through compound interest from personal growth and sector accumulation—essentially, it's about "buy and hold". Earlier, Leto Bao, a former ByteDance employee nicknamed "ByteDance Stock Trading Guy", reaped massive profits by capitalizing on the AI storage sector via US stock investments. Online reports claim he earned approximately RMB 30 million and subsequently resigned.
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Hyperliquid is in discussions with Kraken's parent company about entering the U.S. market.
According to market sources, Hyperliquid is in talks with Kraken's parent company to enter the U.S. market.
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Viewpoint: Bitcoin’s rebound momentum remains strong, with institutional allocations and speculative leverage rising in tandem.
Glassnode noted in a report that Bitcoin is currently trading around $78,600, having largely held onto the strong rally it launched from the $64,000 zone at the end of August after earlier breaking above $80,000. The broader digital asset market still shows strong institutional demand, though activity in spot and derivatives trading has cooled in some segments. Meanwhile, price momentum has clearly exceeded the upper bound of its statistical range. The secondary market’s trading volume and spot Cumulative Volume Delta (CVD) indicate that the balance of buying power in the market may be shifting, while retail participation has also weakened. Traditional finance capital continues to flow into regulated crypto investment products. U.S. spot Bitcoin ETF holdings remain profitable and have maintained weekly net inflows. At the same time, short-term, price-sensitive capital is entering the market, coinciding with high options open interest and a rapid narrowing of volatility spreads—signaling that market participants may be underestimating short-term volatility risks. On-chain data also reflects a pattern of "active settlement but weakening user participation": entity-adjusted transaction volumes are significantly above normal levels, while daily active addresses and total fee revenue have declined slightly. Overall, the Bitcoin market is in a transition phase from a strong rally to structural divergence. Sustained institutional capital allocation and a rebound in on-chain valuations are providing market support, though speculative leverage is rising and signs of short-term capital selling have begun to emerge. The market’s fundamentals remain solid, but short-term volatility and correction risks are on the rise.
1 hours ago
Iran's Revolutionary Guards: An MQ-9 drone was shot down east of the Strait of Hormuz.
The Iranian Revolutionary Guard Corps stated that an MQ-9 drone was shot down east of the Strait of Hormuz.
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Telegram Founder: Gram Wallet Is Ready, Now Open to Select Users
Telegram founder Pavel Durov announced in a post on his personal channel that Telegram’s Gram wallet is now ready for use and currently available to a select group of users. It will be gradually rolled out to over 1 billion users in the coming weeks. Durov thanked the validators who approved the core smart contract, noting this means future wallet upgrades will not require cumbersome wallet migrations. This is just one of many innovations Telegram has developed to enhance the usability of non-custodial wallets.
Chia Network (XCH), which uses a novel consensus mechanism for running its blockchain, has made progress toward getting its stock trading through an initial public offering, its CEO said Thursday.
The company confidentially filed an amended S-1 form with the U.S. Securities and Exchange Commission at the end of March, after the regulators sent a comment letter to the company, CEO Gene Hoffman said at a conference hosted by law firm Brown Rudnick in Manhattan. However, there is still no firm timeline for the IPO since the company wants to wait for the right market conditions, he later told CoinDesk.
Chia revealed in April 2023 that it wanted to go public, though its IPO plans took a detour because of financial distress at Credit Suisse, its underwriter. That led to Chia laying off a third of its staff in October.
Chia was founded by Bram Cohen, who invented the BitTorrent peer-to-peer filesharing technology. Unlike Bitcoin, which uses proof-of-work to run its blockchain, and Ethereum, which uses proof-of-stake, Chia uses proof-of-space and proof-of-time, which, in short, involves the allocation of computer storage on machines around the world.
Hoffman said Chia is planning to roll out a bridge for Circle's USDC stablecoin in the coming months, as well as additional infrastructure projects.
Chia (XCH) network, a layer one (L1) blockchain that differentiates itself from the park through its Proof-of-space-and-time (PoST) consensus mechanism, is still aspiring to be listed on major stock exchanges through an Initial Public Offering (IPO). According to Chia Network’s CEO Gene Hoffman, during a conference hosted by law firm Brown Rudnick in Manhattan, the company confidentially filed an amended S-1 form with the United States Securities and Exchange Commission (SEC) at the end of March 2024.
Notably, Chia Network initially filed for an IPO with the US SEC during the first quarter of 2023. However, the company ended up delaying the IPO bid following the financial headwinds caused by the collapse of Credit Suisse, which was the main underwriter. Furthermore, Chia network was forced to lay off 26 of its staff members out of 70 at the height of the crypto bear market despite backing from major web3 investors.
Meanwhile, Chia’s Hoffman has indicated that the company will continue to monitor the market conditions to ensure the right timing. The company could be facing regulatory challenges ahead as the US SEC intends to classify most of the altcoins under securities laws.
Chia Project and Market Outlook The team at the Chia project has repeatedly reiterated that it has never sold a single XCH token to fund its projects. The company is backed by legendary web3 investors such as Andreessen Horowitz, Richmond Global Ventures, Naval Ravikant, Slow Ventures, and Galaxy Digital, among others.
In May 2021, Chia Network raised a total of $61 million from the above-mentioned venture capitalists in its Series D funding round. Previously, the Chia project conducted its seed funding round and venture round in 2018 and 2020 respectively.
According to the latest market data, XCH price has dropped around 20 percent in the past week to trade at about $30.36. The small-cap altcoin has a fully diluted valuation (FDV) of about $948 million and a daily trading volume of around $23.4 million as of Friday.
The Chia project is highly diversified into emerging markets such as the Decentralized Physical Infrastructure Network (DePIN). Furthermore, more institutional investors are interested in the tokenization of real-world assets.
Already, Hoffman said that the Chia network is working on rolling out a bridge to onboard USDC, a stablecoin backed by the US dollar and issued by Circle Internet Financial.
Bigger Picture The cryptocurrency market in the United States has undergone significant growth with the recent approval of spot Bitcoin ETFs. Already, the US SEC is under pressure to approve trading of spot Ethereum ETFs by next month.
However, the agency has continued to argue that Ethereum and most of the altcoins constitute investment contracts under the Howey test and, thus fall under the securities law. Meanwhile, the US Congress is working to enact clear crypto regulations before the upcoming general elections.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Let’s talk web3, crypto, Metaverse, NFTs, CeDeFi, meme coins, and Stocks, and focus on multi-chain as the future of blockchain technology. Let us all WIN!
At a fireside chat on day 2 of the Singapore Fintech Festival on Thursday, Chia Der Jiun, Managing Director of the Monetary Authority of Singapore (MAS), articulated MAS' comprehensive vision for the fintech sector, which aims to establish Singapore as a leading global hub for financial technology. Its vision encompasses the creation of foundational building blocks to facilitate industry growth, such as interoperable payment systems and enhanced cross-border transaction frameworks through initiatives like Project Nexus, Chia said.
The managing director, who replaced Ravi Menon at the start of the year, said MAS is committed to fostering collaboration with industry players to navigate emerging technologies, including Generative AI, while ensuring that regulatory measures keep pace with innovation.
Additionally, the regulator is focused on unlocking the potential of asset tokenization, working closely with global financial institutions to address industry challenges and scale solutions to commercial viability.
MAS to Drive Commercialisation of Asset Tokenisation with Expanded Initiatives
MAS’ new measures reflect its commitment to establishing Singapore as a global hub for digital asset innovation and positioning tokenisation as a key element of the future financial landscape.
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Chia emphasized asset tokenization's economic benefits such as reduced duplication, cost savings, increased speed, and enhanced efficiency in various financial operations: "It's going to cut duplication, cut cost, increase speed, but cut time, The use cases are also very clear across multi currencies, payment settlement, treasury management, collateral management, and, of course, security settlement."
He elaborated on MAS' vision for tokenisation, underscoring the need for a collaborative approach to scale these innovations to commercial levels. MAS is actively working with industry participants through initiatives like Project Guardian and Global Layer One (GL1). These projects aim to address challenges and ensure that the benefits of tokenisation are realized at a broader scale, he said.
To implement tokenisation effectively, MAS has proposed a framework comprising token, settlement, and infrastructure layers. The first involves representing various assets—such as fixed income, foreign exchange (FX), funds, and securities—as tokens with agreed attributes. The next layer, settlement, aims to ensure high-quality settlement assets like central bank digital currency (CBDC), tokenised bank deposits, and stablecoins are integrated into the ecosystem. Finally, the infrastructure layer aims to develop interoperable and compliant infrastructure to support tokenisation – an area that the GL1 initiative aims to address, Chia explained.
The conversation also touched upon the emerging field of quantum computing and its implications for security. Chia mentioned that while quantum computers are still in the lab and not yet at commercial scale, it is not too early to consider their impact. He emphasized the importance of looking into security measures such as post-quantum encryption and quantum key distribution.
"Quantum is going to give you that compute power that is just exponentially greater than classical computers," he noted, highlighting the need to start preparing for these advancements now.
The Monetary Authority of Singapore (MAS) says that stablecoins have the potential to become a widely adopted means of payment.
In an interview with The Business Times, MAS managing director Chia Der Jiun says stablecoins have immense potential provided that regulations are in place to keep the crypto assets from straying from their linked value.
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“Stablecoins have features that provide more value stability, with the potential to become a widely used payment instrument. MAS sees good potential in stablecoins provided they are well-regulated to have a high degree of value stability.
To this end, MAS finalized a regulatory approach for stablecoins, focusing on regulating the value stability risk of single-currency stablecoins.”
The MAS says it’s looking to establish a regulatory framework for stablecoins in an effort to protect users and consumers.
“We are working on the necessary legislative amendments to the PS (Payment Services) Act to implement the stablecoins framework. Only stablecoin issuers that fulfill all requirements under the framework can apply for their stablecoins to be regulated by MAS as ‘MAS-regulated stablecoins.’ This will allow the market to differentiate these stablecoins from other types that are not regulated for their value stability.”
The MAS also says that issuing a central bank digital currency (CBDC) – a stablecoin pegged to a nation’s currency issued by its reserve bank – is currently not needed at this time as cashless payments in the country are already efficient.
“MAS has assessed that the case for issuing a retail Singapore dollar CBDC in Singapore is not compelling at this juncture, as electronic payments in Singapore are quite pervasive, seamless and efficient.”
In a move that could revolutionize the world of investing, Permuto Capital is inching closer to launching a new class of equity securities that promise to unbundle the dividend from the remaining equity value of common stocks. The pioneering products, built upon an optional blockchain solution using the Chia blockchain, are poised to attract a wide range of investors seeking innovative ways to construct their investment portfolios. The concept was first introduced in Dividend Alchemy: Unbundling Microsoft’s Equity With Blockchain.
Product SummaryOn February 28, 2025, Permuto Capital took a significant step forward by filing two new registration statements for products based on Apple (AAPL) and Broadcom (AVGO) common equity, adding to their previous filing for Microsoft (MSFT). This financial innovation separates a common share into two distinct, tradable parts: a "Dividend Certificate" entitling the owner to dividend payments, and an "Asset Certificate" representing everything else.
The Dividend Certificates offer a capital-efficient way to generate income with favorable dividend tax treatment, making them attractive to retirees, pension funds, insurance companies, and other cash flow-focused investors. Meanwhile, the Asset Certificates are expected to trade with "natural leverage," assuming the dividend component maintains a relatively steady price based on the present value of future cash flows.
Financial InnovationWhile the concept of separating dividends from other economic elements of a common share is not new to Wall Street, the Permuto Capital approach stands out. By designing an affordable structure accessible to investors of all levels, they are democratizing a strategy once reserved for large institutional investors executing bespoke trades.
The simplicity of the Permuto solution is reassuring: all certificates are backed 1:1 by shares of the underlying company held in a trust, without complex financial engineering or synthetic elements. One advantage of the use of trust is that the certificates are not time-based like synthetic structures, and therefore investors may enjoy ongoing access to the certificates. Investors can transact in either or both certificates, deposit common shares with a custodian to receive the two certificates, or return both certificates to the trust to reclaim a common share.
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Permuto Capital aims to list both certificate types on a national stock exchange, with the Depository Trust Company (DTC) holding them for investors using traditional platforms. However, those seeking to maximize returns can opt to hold their certificates as Chia Asset Tokens (CATs) on the Chia blockchain, which offers cost-efficient dividend distribution. CAT holders will receive a great share of dividend payments compared DTC-held certificates with Permuto passing on the cost savings from using the blockchain.
The Chia blockchain also enables 24/7 trading on decentralized marketplaces, free from exchange halts and potentially more cost-effective than traditional exchanges.
Looking ForwardAs regulatory approval progresses for products tied to Microsoft, Apple, and Broadcom, Permuto Capital Co-CEO Trent Martensen affirmed their commitment, stating, “We have no intention of slowing down and expect to be filing additional registration statements for more trusts in the coming weeks.”
The Permuto Dividend and Asset Certificates could represent the first new investible asset class available to the public since the creation of Bitcoin. By elegantly separating two components of a publicly traded stock, this simple idea unlocks additional investor demand, as the individual components cater to specific needs and enable more precise portfolio construction. As Permuto Capital continues to push the boundaries of financial innovation, the investment landscape may never be the same.
Jefferies: Samsung is likely to follow SK Hynix’s example to list in the US via ADRs.
Jeff Kim, Head of Research at Jefferies, said Samsung is likely to follow SK Hynix in listing on the U.S. market via American Depositary Receipts (ADRs), which will boost the share price of the South Korean chipmaker whose valuation lags behind Micron. "Chip stocks are at a turning point. ADRs will serve as an important catalyst to drive their valuations," he added.
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UBS and TD Cowen sharply raise Arm’s target price, betting on a revaluation of Arm’s AI data center CPU value.
Arm’s stock price pulled back this week alongside the high-valuation AI sector, though some Wall Street analysts say the correction does not alter the company’s long-term standing in AI data centers. UBS sharply raised Arm’s price target from $260 to $470, retaining its Buy rating; TD Cowen lifted its target from $265 to $475, also keeping a Buy recommendation. Both firms share the view that as agentic AI evolves, CPUs could gain greater importance in data center architectures, rather than GPUs continuing to monopolize the investment narrative. TD Cowen believes that over the long term, CPUs could hold a more strategic position in certain AI workloads. UBS, meanwhile, emphasizes that the real debate in the market centers on the revenue potential of Arm’s self-developed or independent CPU business. The bank projects Arm’s CPU-related revenue could reach around $14 billion by 2030, though the company itself has stated this business will not have a material impact on its finances until fiscal 2028. Arm’s strengths lie in low latency and energy efficiency—metrics that major cloud providers are increasingly prioritizing as they expand AI infrastructure. Even with its stock pulling back from recent highs in the short term, analysts still view Arm as one of the key beneficiaries of the server CPU upgrade cycle.
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Crypto whale who profited over $23.77 million from BAT ICO liquidates 27,586 ETH
According to monitoring by Yu Jing, a whale that earned $23.77 million from participating in the BAT ICO sold 15,000 ETH (valued at roughly $24.29 million) two hours ago. The whale has now fully liquidated all 27,586 ETH it received from selling 35 million BAT on-chain over the past day and a half, converting the proceeds into 44.836 million USDS at an average selling price of $1,625.
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Sources: Iraqi officials once considered withdrawing from OPEC, but current plans are to remain a member and pursue a higher quota.
A senior Iraqi oil ministry official said that if OPEC quotas are not significantly increased, Iraq will be forced to consider all available options. Sources said Iraqi officials had considered withdrawing from OPEC, but the current plan is to remain a member and push for higher quotas. (Jinshi)
13 minutes ago
Kepler Cheuvreux raises ASML’s European share price target from €1,460 to €1,830.
Kepler Cheuvreux has raised the target price for ASML’s European shares from €1,460 to €1,830.
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Stifel: U.S. economy in "overheated expansion" as AI investment cycle outweighs consumer pressure
U.S. large diversified financial services holding company Stifel has raised its year-end S&P 500 target and rolled out a stock allocation framework for a "high-growth, high-inflation" environment. The firm lifted its year-end S&P 500 target to 7,800 points, noting the U.S. economy is entering a "running hot" state—where economic growth is strengthening alongside mounting inflationary pressure. Stifel’s models show U.S. growth momentum is picking up while inflation momentum is clearly overheating, a trend that will reshape the market’s leading sector structure in the second half of the year. Instead of traditional consumer sectors, Stifel’s top picks are investment-led cyclical industries, including banks, transportation, materials, energy, semiconductors, software and equipment. The firm adds that fixed-asset investment in AI remains on the rise: large tech firms including Amazon, Microsoft, Meta and Google are projected to combine for roughly $725 billion in total capital expenditures in 2026, some $100 billion higher than prior estimates. This means the AI investment chain is likely to continue outperforming the consumption chain squeezed by inflation. Stifel advises investors to reduce exposure to discretionary consumer, consumer staples, communication services and some financial services sectors, as these areas see weaker earnings revisions. Conversely, the firm favors cyclical value stocks and hedges with defensive value sectors such as insurance, autos, energy and banks.
TLDR Singapore to trial tokenized bills settled with CBDC, testing tokenization in real-world finance. Chia Der Jiun confirms asset-backed tokens have moved beyond experimentation but need adoption. DBS, OCBC, and UOB conducted trials using Singapore dollar CBDC for interbank lending. Singapore introduces stablecoin regulations focusing on reserve backing and reliable redemption. MAS’s BLOOM initiative supports tokenized assets and stablecoins for settlement in digital finance. The Monetary Authority of Singapore (MAS) is taking steps towards digital finance by launching a trial to issue tokenized MAS bills. These bills will be settled using central bank digital currency (CBDC) and aim to test the viability of tokenization in real-world applications. The trial will involve primary dealers, with more details set to be released in 2026.
Tokenization Moving Beyond Experimentation MAS Managing Director Chia Der Jiun discussed the progress of tokenization at the Singapore FinTech Festival. Chia confirmed that asset-backed tokens have moved past the experimental phase. He stated, “Are asset-backed tokens clearly out of the lab? Without a doubt.” However, he also noted that the technology has not yet reached full-scale adoption.
Despite its potential, tokenization still faces significant structural barriers that must be addressed for broader use. In a related move, Chia revealed that three major banks, DBS, OCBC, and UOB have already conducted successful trials using the Singapore dollar wholesale CBDC for interbank overnight lending. These trials support Singapore’s goal to expand tokenized finance with secure settlement assets, aligning with the broader ambition to integrate CBDCs into commercial financial systems.
Regulation of Stablecoins and Digital Payment Tokens The MAS also addressed its regulatory framework for stablecoins. In August 2023, Singapore introduced regulations for single-currency stablecoins pegged to the Singapore dollar, the U.S. dollar, and the euro. Chia stressed that stablecoins must have sound reserve backing and reliable redemption processes.
He cautioned that unregulated stablecoins could risk systemic instability, pointing to the 2008 financial crisis as a potential parallel. The MAS has launched the BLOOM initiative to further encourage experimentation with tokenized assets. The program aims to test the use of tokenized bank liabilities and regulated stablecoins for settlement, reinforcing Singapore’s commitment to digital finance.
In brief MAS is finalising stablecoin legislation with emphasis on reserve backing and redemption reliability. It will also expand its central bank digital currency trials. A new guide on tokenised capital markets products is also set to be published. Singapore’s financial regulator is preparing to introduce new rules for stablecoins and expand central bank digital currency (CBDC) trials as part of a broader effort to build out its framework for digital assets.
The Monetary Authority of Singapore’s (MAS) managing director, Chia Der Jiun, said Thursday that stablecoins could play a key role in future financial networks if they are properly supervised.
“Unregulated stablecoins have a patchy record of keeping their peg,” Chia told the Singapore FinTech Festival 2025. “Recurrent de-pegging can erode confidence, and trigger runs on other stablecoins.”
“Regulated stablecoins, while nascent, offer the prospect of value stability. Sound and robust regulation of stablecoins will be critical to underpin their stability,” he added. “We have seen national regulations taking shape rapidly. This is an important start. But things can take a wrong turn if there is a proliferation of poorly regulated stablecoins, undermining confidence in others.”
Chia said MAS had finalized the features of its stablecoin regulatory regime and would soon prepare draft legislation. “Under our regime, we have given importance to sound reserve backing and redemption reliability,” he said.
Singapore’s approach to regulating digital finance has balanced between tight standards with industry-led pilots. The new stablecoin rules build on years of sandbox experimentation and projects like Project Guardian, which has tested tokenised foreign exchange, fixed income, and fund transactions since 2022.
Singapore started looking at asset-backed tokens with the launch of Project Guardian in 2022. It collaborated with industry partners to test use cases in FX, funds, fixed income, and showed that tokenization worked and delivered benefits. 24/7 near instant settlement; programmability enabling PvP and DvP; no settlement lags, fewer intermediaries, less pre-funding.
That work has already delivered tangible results. Tokenised bonds and money market funds are being traded on-chain, and banks are offering tokenised cash management services. But, Chia noted, asset-backed tokens have yet to achieve “escape velocity.” To reach that point, he said, there needs to be standardised token formats, interoperable networks and a deep pool of safe settlement assets.
MAS will also publish a guide on the tokenization of capital markets products, offering case studies and disclosure guidance to clarify how tokenised securities fit under existing rules. It is working with international partners, including UK regulators, to harmonise standards for asset-backed tokens.
Chia cautioned that progress will depend on use cases that demonstrate value and stability for clients. “Market participants must bring use cases that demonstrate value and stability,” he said. “They have to build participation and liquidity.”
A "balanced middle" approachAdrian Wall, CEO of the Digital Sovereignty Alliance, described Singapore's approach to regulation as sitting in a “balanced middle.”
“MAS combines strict consumer protection with one of the most advanced tokenization programs in the world. Its stablecoin framework is narrower in scope than MiCA but deeper on safety and redemption, positioning MAS-regulated stablecoins as a reliable bridge between fiat and digital assets,” he told Decrypt.
“Singapore is closest to the equilibrium we’d like to see globally: clear standards, shared infrastructure, and controlled experimentation. The opportunity now is to ensure these frameworks are accessible not only to global banks but also to builders and communities who can turn them into everyday value.”
For stablecoin firms in the city, he said MAS had “put stablecoins on a bank-grade footing without killing innovation.”
He added if he could nudge MAS on anything, it would be on access and on-ramps. “The rules are clear, but smaller innovators still struggle to enter pilots or get banking connectivity. I would like to see more graduated pathways into the regime for early-stage firms that meet the spirit of the framework, and clearer guidance on how foreign fiat-backed stablecoins that already meet high standards elsewhere can interoperate with the Singapore ecosystem without creating regulatory gaps,” he said.
Louise Ivan Valencia Payawal, co-founder and CEO of Ryder.id, added that the industry will benefit from MAS pushing even further. “The speech laid out what needs to happen for asset-backed tokens to reach “escape velocity,” but the current pace of implementation and licensing can still slow down innovators who are ready to build today. Faster approvals, clearer timelines, and more detailed guidance on areas like decentralised finance and self-custody would help ensure Singapore does not fall behind markets that are moving aggressively while still maintaining safeguards,” he said.
He added that across jurisdictions, the trade-offs are becoming clearer. “The United States has scale but uncertainty. Europe has harmonisation, but a slower evolution. Hong Kong supports retail participation. Dubai offers permissiveness. Singapore focuses on trust, interoperability, and institutional-grade networks,” he said.
However, Payawal noted, while MAS wants to avoid walled gardens and prevent a fragmented global landscape, "achieving this requires stronger coordination across international regulators and faster adoption of global standards." He argued that Singapore risks becoming "an advanced testbed without equivalent commercial scale" if other jurisdictions steal a march on it, adding that, "A stronger push to turn pilots into live, industry-wide implementations will be critical if Singapore wants to lead not only in experimentation but in global influence."
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Arizona lawmakers are weighing a bill that would let the state keep digital assets in a reserve instead of selling them off, and XRP is one of the names on the list.
The proposal would place those assets under the state treasurer’s control, and it could also let the state earn extra returns through staking, airdrops, or limited lending if the move does not raise financial risk.
What The Fund Would Hold SB1649 creates a Digital Assets Strategic Reserve Fund made up of digital assets that are held by, confiscated by, or surrendered to Arizona.
The bill text also says the treasurer could deposit state-held digital assets through a secure custody solution or an approved exchange-traded product, then administer the fund directly.
Source: LegiScan It defines “digital asset” broadly enough to include Bitcoin, XRP, stablecoins, nonfungible tokens, Dash, Internet Computer, Ravencoin, Chia, eCash, Monero, and other digital-only assets that meet the bill’s fair-value test.
That fair-value test is built around adoption, annual transactions, annual transaction value, and development activity. In plain terms, the bill tries to sort assets by market use and technical strength before they can be treated as reserve holdings.
The wording is broad, but it is not an open-ended invitation to buy anything. It sets a screening standard first.
BTCUSD trading at $1.31 on the 24-hour chart: TradingView A Bill That Keeps Moving The measure has already cleared the House Rules Committee and is headed to a full House vote. Arizona legislative tracking shows the committee approved it 8-0 on March 30, after earlier Senate action sent it across the chamber. That means the bill is still alive, but it is not law yet.
The House step matters because it moves the proposal closer to the finish line. The bill would give the treasurer authority to manage the fund, and it would also allow digital assets reported as abandoned property to be delivered in native form to the state or its custodian.
If those assets sit unclaimed long enough, staking rewards and airdrops could be shifted into the reserve fund.
Why XRP Is In The Mix XRP has drawn extra attention because it is named directly in the bill, not implied through a broad crypto category. The same section that lists Bitcoin also lists XRP alongside several other assets that could qualify under the reserve framework.
Jefferies: Samsung is likely to follow SK Hynix’s example to list in the US via ADRs.
Jeff Kim, Head of Research at Jefferies, said Samsung is likely to follow SK Hynix in listing on the U.S. market via American Depositary Receipts (ADRs), which will boost the share price of the South Korean chipmaker whose valuation lags behind Micron. "Chip stocks are at a turning point. ADRs will serve as an important catalyst to drive their valuations," he added.
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UBS and TD Cowen sharply raise Arm’s target price, betting on a revaluation of Arm’s AI data center CPU value.
Arm’s stock price pulled back this week alongside the high-valuation AI sector, though some Wall Street analysts say the correction does not alter the company’s long-term standing in AI data centers. UBS sharply raised Arm’s price target from $260 to $470, retaining its Buy rating; TD Cowen lifted its target from $265 to $475, also keeping a Buy recommendation. Both firms share the view that as agentic AI evolves, CPUs could gain greater importance in data center architectures, rather than GPUs continuing to monopolize the investment narrative. TD Cowen believes that over the long term, CPUs could hold a more strategic position in certain AI workloads. UBS, meanwhile, emphasizes that the real debate in the market centers on the revenue potential of Arm’s self-developed or independent CPU business. The bank projects Arm’s CPU-related revenue could reach around $14 billion by 2030, though the company itself has stated this business will not have a material impact on its finances until fiscal 2028. Arm’s strengths lie in low latency and energy efficiency—metrics that major cloud providers are increasingly prioritizing as they expand AI infrastructure. Even with its stock pulling back from recent highs in the short term, analysts still view Arm as one of the key beneficiaries of the server CPU upgrade cycle.
13 minutes ago
Crypto whale who profited over $23.77 million from BAT ICO liquidates 27,586 ETH
According to monitoring by Yu Jing, a whale that earned $23.77 million from participating in the BAT ICO sold 15,000 ETH (valued at roughly $24.29 million) two hours ago. The whale has now fully liquidated all 27,586 ETH it received from selling 35 million BAT on-chain over the past day and a half, converting the proceeds into 44.836 million USDS at an average selling price of $1,625.
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Sources: Iraqi officials once considered withdrawing from OPEC, but current plans are to remain a member and pursue a higher quota.
A senior Iraqi oil ministry official said that if OPEC quotas are not significantly increased, Iraq will be forced to consider all available options. Sources said Iraqi officials had considered withdrawing from OPEC, but the current plan is to remain a member and push for higher quotas. (Jinshi)
13 minutes ago
Kepler Cheuvreux raises ASML’s European share price target from €1,460 to €1,830.
Kepler Cheuvreux has raised the target price for ASML’s European shares from €1,460 to €1,830.
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Stifel: U.S. economy in "overheated expansion" as AI investment cycle outweighs consumer pressure
U.S. large diversified financial services holding company Stifel has raised its year-end S&P 500 target and rolled out a stock allocation framework for a "high-growth, high-inflation" environment. The firm lifted its year-end S&P 500 target to 7,800 points, noting the U.S. economy is entering a "running hot" state—where economic growth is strengthening alongside mounting inflationary pressure. Stifel’s models show U.S. growth momentum is picking up while inflation momentum is clearly overheating, a trend that will reshape the market’s leading sector structure in the second half of the year. Instead of traditional consumer sectors, Stifel’s top picks are investment-led cyclical industries, including banks, transportation, materials, energy, semiconductors, software and equipment. The firm adds that fixed-asset investment in AI remains on the rise: large tech firms including Amazon, Microsoft, Meta and Google are projected to combine for roughly $725 billion in total capital expenditures in 2026, some $100 billion higher than prior estimates. This means the AI investment chain is likely to continue outperforming the consumption chain squeezed by inflation. Stifel advises investors to reduce exposure to discretionary consumer, consumer staples, communication services and some financial services sectors, as these areas see weaker earnings revisions. Conversely, the firm favors cyclical value stocks and hedges with defensive value sectors such as insurance, autos, energy and banks.
