Track market-moving stories before they get noisy

Market data: JUP rose 7.21% intraday, while SNX fell 2.65% intraday.

Institutions: Micron’s long-term agreements reduce industry cyclical volatility.

Quilter Cheviot strategist Ben Barringer said that Micron Technology’s extremely strong earnings show that the traditionally cyclical memory chip market is becoming more reliable. This performance further confirms the fact that demand for memory chips far outstrips supply. More importantly, Micron’s shift toward signing long-term agreements with clients provides the group with more stable profitability and makes it less vulnerable to sharp demand fluctuations. These long-term agreements actually set price ceilings and floors, require clients to commit to taking supply, and smooth out the historically highly cyclical market.

1 seconds ago

Analyst: Micron’s financial report indicates short-term fluctuations can be ignored as long as earnings prospects underpin its high valuation.

Senior Market Analyst Daniela Hathorn stated, "As Micron Technology's earnings report once again confirms that the AI investment cycle remains solid, the U.S. stock market has recouped some of its losses. This has boosted market sentiment across the entire semiconductor sector—after high-growth individual stocks underperformed earlier—indicating that as long as profit prospects continue to support high valuations, investors are still willing to overlook short-term fluctuations."

1 seconds ago

Circle partners with Nomura Securities to enter the Japanese yen foreign exchange settlement service market.

Stablecoin issuer Circle plans to collaborate with Nomura Securities to launch instant foreign currency settlement for Japanese corporate clients as early as 2027. The initiative will enable large cross-border transactions to be completed immediately, aiming to boost cross-border investment and trade. This will mark the first entry of a major stablecoin issuer into Japan’s corporate transaction market, allowing companies to convert yen into US dollar-denominated stablecoins for investment and instant transfers.

1 seconds ago

Institutions' Preview: Overview of US May Core PCE Price Index Monthly Rate

The US May core Personal Consumption Expenditures (PCE) Price Index monthly rate will be released tonight at 20:30 (UTC+8). Below are the forecasts from multiple institutions: Sumitomo Mitsui Banking Corporation: 0.2%; Royal Bank of Canada: 0.2%; JPMorgan Chase: 0.3%; Goldman Sachs Group: 0.3%; Bank of Montreal: 0.3%; Moody's Corporation: 0.3%; Standard Chartered: 0.3%; UniCredit: 0.3%; ING Group: 0.3%; HSBC Holdings: 0.3%; BNP Paribas: 0.4%; Wells Fargo: 0.4%; Capital Economics: 0.4%; Citigroup: 0.4%; Deutsche Bank: 0.4%; Nomura Securities: 0.4%; Pantheon Macroeconomics: 0.4%; Société Générale: 0.4%; Scotiabank: 0.4%; Morgan Stanley: 0.4%

1 seconds ago

DA Davidson Raises Micron’s Price Target to $2,000, Retains Buy Rating

U.S. investment bank DA Davidson released a research note stating that Micron Technology has entered a new phase with one of the best performance visibility in the semiconductor industry, a stark contrast to its past standing in the sector. Driven by another quarter of results that handily exceeded expectations and positive forward guidance, Micron’s stock price surged sharply. These signals indicate that the current memory chip boom cycle is far from over. While the company is ramping up capacity investments (with capital expenditure (CAPEX) projected to hit $10 billion in the fourth quarter of fiscal 2026, which will bring additional supply), management expects the memory market to remain tight on supply and demand at least through 2027. Against this backdrop, DA Davidson reiterated its "Buy" rating on Micron and raised its price target from $1,500 to $2,000, equivalent to a 20x price-to-earnings (P/E) ratio based on the company’s 2026 calendar year expected earnings per share (EPS).

1 seconds ago

Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.

Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.

1 seconds ago

NEO: Neo X MainNet v0.5.3 Upgrade Announcement

5 min April 20, 2026

Neo co-founder proposes an overhaul of its $461 million treasury. Pakistan reopens banking to crypto after eight year ban. written by Yohan Yun , Staff Writer reviewed by Andrew Fenton , Staff Editor

Everything that happened in crypto news in Asia over the past seven days: Asia Express.

In this edition

Neo co-founder floats $461 million governance reset Over 50 projects flagged in DPRK infiltration sweep Pakistan lifts crypto banking ban under strict regulatory limits Ledger device that drains funds sold in Chinese marketplace South Korea trials tokenized deposits for controlled public spending Naver moves to fold Upbit operator into fintech arm ahead of IPO Tokyo funds yen stablecoin use cases to boost global finance push SBI Remit taps Ripple tech to expand remittances for foreign workers Neo co-founder floats $461 million governance reset Zhang pushes back on Da’s proposal. (Erik Zhang) Neo co-founder Da Hongfei has proposed stripping founders of control, returning nearly 50 million tokens to the community and installing formal oversight in a bid to overhaul a $461 million treasury.

In March, the smart contract blockchain disclosed its finances for the first time since 2019, revealing assets held across the Neo Foundation and Neo Global Development.

The proposal would move the foundation’s legal base to the Cayman Islands, install a five-member board and an independent supervisor, and bar both Hongfei and co-founder Erik Zhang from holding governance roles for two years. It also includes returning 49.5 million NEO tokens to the community.

Founded in 2014, Neo rose to prominence during the 2017 bull market, when it was widely dubbed “China’s Ethereum.” The two co-founders publicly clashed on X on New Year’s Eve, accusing each other of mismanaging the project’s treasury.

Over 50 projects flagged in DPRK infiltration sweep An Ethereum Foundation-funded program alerted more than 50 crypto projects to potential North Korean infiltration.

The Ketman Project, one of its recipients, identified 100 suspected DPRK IT workers operating inside Web3 firms under false identities.

The group flagged patterns such as reused GitHub profiles, mismatched language settings and identity inconsistencies used to evade detection.

Security researcher Heiner Garcia and Cointelegraph interview a suspected North Korean operative. (Heiner Garcia/Ketman) North Korean IT workers have allegedly tricked crypto firms for years to earn salaries that can be funneled back to the regime. Recently, suspected operatives escalated their tactics by physically approaching Drift contributors at a conference, culminating in a $285 million exploit.

Pakistan lifts crypto banking ban under strict regulatory limits Pakistan has ended an eight-year ban by reopening its banking system to licensed crypto firms.

Banks will be allowed to open accounts for licensed virtual asset service providers and their customers under a new framework set by the central bank.

However, banks will not be allowed to trade or hold crypto, with their role limited to providing services such as account access and payments to licensed firms.

The change follows the passage of the Virtual Assets Act 2026 in March, which established a licensing regime for crypto firms and created a formal regulatory framework for the sector.

Read also

Ledger device that drains funds sold in Chinese marketplace Researcher dissects counterfeit Ledger device. (Past_Computer2901/Reddit) A cybersecurity researcher has identified a fake Ledger hardware wallet designed to capture seed phrases and drain user funds.

The researcher said they purchased what appeared to be a Ledger Nano S Plus from a Chinese marketplace for personal use.

When the device was connected to the official Ledger Live app, it failed the built-in verification check. The researcher already had the app installed, but first-time users would likely have been prompted to download a malicious version instead.

Ledger told Cointelegraph that customers should only download official apps on desktop and mobile devices.

Earlier in April, Apple removed a fake Ledger app from its App Store that led to a combined $9.5 million in losses for victims who downloaded it.

South Korea trials tokenized deposits for controlled public spending Sejong City is South Korea’s administrative center. (YHBae/Pixabay) South Korea will pilot tokenized deposits for government spending in late 2026 under a regulatory sandbox testing blockchain-based payments.

The pilot, led by the Ministry of Economy and Finance, will launch in Sejong City and apply predefined conditions such as time limits and permitted spending categories.

Authorities will assess whether the model improves oversight of public funds.

The Philippines is also weighing blockchain to track government spending through the Citizen Access and Disclosure of Expenditures for National Accountability Act, or CADENA. The bill has cleared the Senate and is now pending in the House of Representatives.

Naver moves to fold Upbit operator into fintech arm ahead of IPO South Korea’s Naver and Dunamu have outlined a path toward a potential Naver Financial IPO in a corrected filing tied to their share swap deal, including plans to form a listing committee within a year.

The plan hinges on a share swap that would bring Dunamu, operator of the country’s largest crypto exchange Upbit, under Naver Financial.

The companies also agreed to use “best efforts” to pursue a listing within five years of the deal’s closing, with a possible two-year extension.

Naver is one of South Korea’s largest internet firms. The plan builds on a $10.3 billion all-stock deal first reported in 2025, which would bring Dunamu under its fintech arm.

Read also

Tokyo funds yen stablecoin use cases to boost global finance push Tokyo is offering subsidies of up to 40 million yen (about $250,000) to companies building yen-denominated stablecoin use cases.

The program will cover up to two-thirds of eligible costs, including infrastructure, compliance and system development expenses.

Japan foreign worker numbers over the years, broken down by visa type. (Ministry of Health, Labour and Welfare) The initiative is part of Tokyo’s broader push to position itself as a global financial hub, backing stablecoin development as a faster and lower-cost payment rail with potential use cases in areas such as cross-border transfers.

Applications are open until June 30, according to the Tokyo Metropolitan Government.

SBI Remit taps Ripple tech to expand remittances for foreign workers SBI Remit has partnered with Tottori Bank to expand low-cost, app-based remittance services for foreign workers in Japan.

The service allows customers to send money abroad through SBI Remit’s platform via the regional bank via Ripple’s technology to enable faster and lower-cost cross-border transfers.

The partnership targets growing demand from foreign workers, who are increasingly relying on digital remittance services over traditional bank transfers.

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The most engaging reads in blockchain. Delivered once a week.

Yohan Yun Yohan (Hyoseop) Yun is a Cointelegraph staff writer and multimedia journalist who has been covering blockchain-related topics since 2017. His background includes roles as an assignment editor and producer at Forkast, as well as reporting positions focused on technology and policy for Forbes and Bloomberg BNA. He holds a degree in Journalism and owns Bitcoin, Ethereum, and Solana in amounts exceeding Cointelegraph’s disclosure threshold of $1,000.

Disclaimer Cointelegraph Magazine publishes long-form journalism, analysis and narrative reporting produced by Cointelegraph’s in-house editorial team with subject-matter expertise.

All articles are edited and reviewed by Cointelegraph editors in line with our editorial standards.

Content published in Magazine does not constitute financial, legal or investment advice. Readers should conduct their own research and consult qualified professionals where appropriate. Cointelegraph maintains full editorial independence.

Read also

BLOG April 27, 2026

The Neo Council has approved and executed a proposal on Neo N3 MainNet to reduce block generation time to 3 seconds (setMillisecondsPerBlock=3000) and adjust GAS issuance to 1 GAS per block (setGasPerBlock=100000000).

Block time improves network responsiveness and transaction finality, while GAS per block ensures the GAS issuance rate remains stable.

The governance action bundled two chained native contract invocations into a single atomic proposal executed via the Policy contract. The proposal passed with 13 out of 21 Council votes, exceeding the required quorum of 11.

Transaction hash:
0x50f683f5db177d2e23d11882c411e5cec37c446213d9cea3174d9ad30db836f1

Details of the governance vote:
https://www.neo3scan.com/tools/governance/12

This update optimizes Neo N3 for future network demand and represents a strong example of decentralized governance in action, where Council members collaborate to make coordinated protocol-level decisions in the long-term interest of the Neo ecosystem.

Institutions: Micron’s long-term agreements reduce industry cyclical volatility.

Quilter Cheviot strategist Ben Barringer said that Micron Technology’s extremely strong earnings show that the traditionally cyclical memory chip market is becoming more reliable. This performance further confirms the fact that demand for memory chips far outstrips supply. More importantly, Micron’s shift toward signing long-term agreements with clients provides the group with more stable profitability and makes it less vulnerable to sharp demand fluctuations. These long-term agreements actually set price ceilings and floors, require clients to commit to taking supply, and smooth out the historically highly cyclical market.

1 seconds ago

Analyst: Micron’s financial report indicates short-term fluctuations can be ignored as long as earnings prospects underpin its high valuation.

Senior Market Analyst Daniela Hathorn stated, "As Micron Technology's earnings report once again confirms that the AI investment cycle remains solid, the U.S. stock market has recouped some of its losses. This has boosted market sentiment across the entire semiconductor sector—after high-growth individual stocks underperformed earlier—indicating that as long as profit prospects continue to support high valuations, investors are still willing to overlook short-term fluctuations."

1 seconds ago

Circle partners with Nomura Securities to enter the Japanese yen foreign exchange settlement service market.

Stablecoin issuer Circle plans to collaborate with Nomura Securities to launch instant foreign currency settlement for Japanese corporate clients as early as 2027. The initiative will enable large cross-border transactions to be completed immediately, aiming to boost cross-border investment and trade. This will mark the first entry of a major stablecoin issuer into Japan’s corporate transaction market, allowing companies to convert yen into US dollar-denominated stablecoins for investment and instant transfers.

1 seconds ago

Institutions' Preview: Overview of US May Core PCE Price Index Monthly Rate

The US May core Personal Consumption Expenditures (PCE) Price Index monthly rate will be released tonight at 20:30 (UTC+8). Below are the forecasts from multiple institutions: Sumitomo Mitsui Banking Corporation: 0.2%; Royal Bank of Canada: 0.2%; JPMorgan Chase: 0.3%; Goldman Sachs Group: 0.3%; Bank of Montreal: 0.3%; Moody's Corporation: 0.3%; Standard Chartered: 0.3%; UniCredit: 0.3%; ING Group: 0.3%; HSBC Holdings: 0.3%; BNP Paribas: 0.4%; Wells Fargo: 0.4%; Capital Economics: 0.4%; Citigroup: 0.4%; Deutsche Bank: 0.4%; Nomura Securities: 0.4%; Pantheon Macroeconomics: 0.4%; Société Générale: 0.4%; Scotiabank: 0.4%; Morgan Stanley: 0.4%

1 seconds ago

DA Davidson Raises Micron’s Price Target to $2,000, Retains Buy Rating

U.S. investment bank DA Davidson released a research note stating that Micron Technology has entered a new phase with one of the best performance visibility in the semiconductor industry, a stark contrast to its past standing in the sector. Driven by another quarter of results that handily exceeded expectations and positive forward guidance, Micron’s stock price surged sharply. These signals indicate that the current memory chip boom cycle is far from over. While the company is ramping up capacity investments (with capital expenditure (CAPEX) projected to hit $10 billion in the fourth quarter of fiscal 2026, which will bring additional supply), management expects the memory market to remain tight on supply and demand at least through 2027. Against this backdrop, DA Davidson reiterated its "Buy" rating on Micron and raised its price target from $1,500 to $2,000, equivalent to a 20x price-to-earnings (P/E) ratio based on the company’s 2026 calendar year expected earnings per share (EPS).

1 seconds ago

Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.

Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.

1 seconds ago

Institutions: Micron’s long-term agreements reduce industry cyclical volatility.

Quilter Cheviot strategist Ben Barringer said that Micron Technology’s extremely strong earnings show that the traditionally cyclical memory chip market is becoming more reliable. This performance further confirms the fact that demand for memory chips far outstrips supply. More importantly, Micron’s shift toward signing long-term agreements with clients provides the group with more stable profitability and makes it less vulnerable to sharp demand fluctuations. These long-term agreements actually set price ceilings and floors, require clients to commit to taking supply, and smooth out the historically highly cyclical market.

1 seconds ago

Analyst: Micron’s financial report indicates short-term fluctuations can be ignored as long as earnings prospects underpin its high valuation.

Senior Market Analyst Daniela Hathorn stated, "As Micron Technology's earnings report once again confirms that the AI investment cycle remains solid, the U.S. stock market has recouped some of its losses. This has boosted market sentiment across the entire semiconductor sector—after high-growth individual stocks underperformed earlier—indicating that as long as profit prospects continue to support high valuations, investors are still willing to overlook short-term fluctuations."

1 seconds ago

Circle partners with Nomura Securities to enter the Japanese yen foreign exchange settlement service market.

Stablecoin issuer Circle plans to collaborate with Nomura Securities to launch instant foreign currency settlement for Japanese corporate clients as early as 2027. The initiative will enable large cross-border transactions to be completed immediately, aiming to boost cross-border investment and trade. This will mark the first entry of a major stablecoin issuer into Japan’s corporate transaction market, allowing companies to convert yen into US dollar-denominated stablecoins for investment and instant transfers.

1 seconds ago

Institutions' Preview: Overview of US May Core PCE Price Index Monthly Rate

The US May core Personal Consumption Expenditures (PCE) Price Index monthly rate will be released tonight at 20:30 (UTC+8). Below are the forecasts from multiple institutions: Sumitomo Mitsui Banking Corporation: 0.2%; Royal Bank of Canada: 0.2%; JPMorgan Chase: 0.3%; Goldman Sachs Group: 0.3%; Bank of Montreal: 0.3%; Moody's Corporation: 0.3%; Standard Chartered: 0.3%; UniCredit: 0.3%; ING Group: 0.3%; HSBC Holdings: 0.3%; BNP Paribas: 0.4%; Wells Fargo: 0.4%; Capital Economics: 0.4%; Citigroup: 0.4%; Deutsche Bank: 0.4%; Nomura Securities: 0.4%; Pantheon Macroeconomics: 0.4%; Société Générale: 0.4%; Scotiabank: 0.4%; Morgan Stanley: 0.4%

1 seconds ago

DA Davidson Raises Micron’s Price Target to $2,000, Retains Buy Rating

U.S. investment bank DA Davidson released a research note stating that Micron Technology has entered a new phase with one of the best performance visibility in the semiconductor industry, a stark contrast to its past standing in the sector. Driven by another quarter of results that handily exceeded expectations and positive forward guidance, Micron’s stock price surged sharply. These signals indicate that the current memory chip boom cycle is far from over. While the company is ramping up capacity investments (with capital expenditure (CAPEX) projected to hit $10 billion in the fourth quarter of fiscal 2026, which will bring additional supply), management expects the memory market to remain tight on supply and demand at least through 2027. Against this backdrop, DA Davidson reiterated its "Buy" rating on Micron and raised its price target from $1,500 to $2,000, equivalent to a 20x price-to-earnings (P/E) ratio based on the company’s 2026 calendar year expected earnings per share (EPS).

1 seconds ago

Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.

Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.

1 seconds ago

BLOG June 12, 2026

Neo-CLI v3.10.0 was released on June 11, 2026. It will be deployed to the T5 TestNet on June 12 and, pending stable TestNet operation, is planned for MainNet deployment on June 26, 2026.

This release does not activate the Gorgon hard fork and does not require node resynchronization. However, it includes a number of improvements and prepares the network for the future Gorgon upgrade.

Key updates include: Performance optimization, including SHL/SHR fixes, VM JumpTable refactoring, and updated cryptographic verification logic

Support for BIP-39 mnemonic wallet import and export

Improved transaction validation and error reporting, including a dedicated Expired result and rejection of duplicate Conflicts attributes

New DeferredRelay plugin, which automatically relays transactions once they enter the valid relay window

New wallet RPC methods and CLI commands: sign,relay, signmsg, and verifymsg

Official Docker image for simplified one-command node deployment

Enhanced RPC diagnostics, providing greater visibility into contract execution and improving the dApp debugging experience

As no hard fork is activated in this release, nodes upgraded to v3.10.0 will remain fully compatible with the current network and will not require a full resync.

Node operators are encouraged to upgrade before the planned MainNet deployment.

If you have any questions, please visit the Neo Discord community for support.

THE BLOCK: How Does Tether Make Money? Understanding the Business Model Behind USDT

Bitcoin, ethereum and the stablecoin USDT are promoted at a cryptocurrency store in Hong Kong on July 29, 2025.

AFP via Getty Images

"You know, guess the biggest RWA in the world," Anton Lobintsev said on the On The Margin podcast, using the shorthand for real-world assets put on a blockchain. The host guessed a house, then a company. "No, Tether. Because Tether is the biggest RWA. What are they doing? They tokenize the dollar. That's it."

That logic is now spreading down-market fast. On Tuesday, Mosta, an AI-native business banking platform built on Lobintsev's company SquareFi, launched MainUSD, its own U.S. dollar stablecoin issued by the regulated provider Brale. A few years ago, minting a dollar token was a moonshot reserved for Tether and Circle. It is becoming a product feature.

"Global businesses should not have to choose between the speed of stablecoins and the usability of traditional financial rails," Denis Spasio, Mosta's co-founder, said in the announcement. The pitch is that customers can convert incoming funds or crypto into one MainUSD balance, hold it, and move it out through either fiat or stablecoin rails, with swaps the company says can go down to zero fees depending on the plan. Mosta already supports USDT and USDC, with the euro coin EURC said to be coming.

Stablecoins move into the back officeMosta is a small name attaching itself to a very large shift. Stablecoin payment volume hit roughly $390 billion in 2025, more than double the year before, and business-to-business stablecoin flows grew more than 700% to over $3 billion a month by the end of the year, according to data compiled by Reap. The total stablecoin supply sits near $321 billion, with Tether's USDT and Circle's USDC accounting for more than 80% of it.

"There's somewhat of a crypto winter happening in terms of just retail buying and selling of crypto," Sami Start of the on-ramp firm Transak said on the On The Margin podcast. "But the stablecoin adoption is orthogonal to that, and institutions are just adopting stablecoins for real-world use cases at the moment, and that's why we're seeing it grow."

MORE FOR YOU

The bigger players are moving the same way. MoneyGram launched its own MGUSD coin in June, issued through Stripe's Bridge. Mastercard agreed to buy the stablecoin infrastructure firm BVNK for as much as $1.8 billion. Stripe, Circle, Visa and PayPal are all building settlement rails of their own. What changed for the smaller fish is that they no longer have to build the hard part themselves.

Why launching a coin got easyThat hard part is Brale's business. The Des Moines company, founded by Dwolla veteran Ben Milne, runs reserve management, compliance and issuance so its clients do not have to. It is a registered money services business across 45 U.S. jurisdictions, publishes monthly reserve attestations, and in June ran a private settlement proof-of-concept with Visa.

"We built Brale to make it easy for companies like Mosta to launch their own stablecoins without having to build reserve management, compliance, and issuance infrastructure from scratch," said Chase Merlin, Brale's head of product. MainUSD is designed to fit the GENIUS Act, the federal payment-stablecoin law signed in July 2025, whose implementation rules are still being written and are not expected to take full effect until late 2026 or early 2027.

Issuing the token is only half the job. The money still has to land somewhere. "The on-chain leg has to synchronize with the off-chain leg, which is the fiat part where payouts are happening," Raj Kamal, co-founder and chief executive of cross-border payments firm TransFi, said on the On The Margin podcast. That off-chain leg is where the licenses live.

The hard part is the licensesLobintsev is blunt about where the real work goes. "License is just the ten percent of the effort, another ninety percent is the partner work," he said. SquareFi anchors its main entity in Canada rather than an offshore haven, registered as a money services business and leaning on licensed "umbrella" partners in Europe, the Middle East and Asia to reach customers elsewhere. "It's almost impossible to get seriously into the fiat world with an offshore companies," he said. "It's okay for crypto, for the crypto only projects, but it's completely unacceptable in the traditional finances world."

The payoff he describes is concrete. A worker in Bangladesh, he said, could be paid by a local partner that redeems MainUSD on demand: SquareFi mints the coin against crypto it holds as collateral, sends it over, and the partner converts it to local currency "in like a few minutes." It is the kind of route that today moves slowly and expensively through correspondent banks.

Whether a flood of branded dollars actually changes anything is the open question. Stablecoins still account for only about 1% of global cross-border payment flows, and not everyone is convinced that issuing one is the same as reinventing banking.

"Everyone's taking the easy way out in the Web3, Web2 world today," said Neo, chief executive of the onchain neobank UR, on the On The Margin podcast. "Easy USDC stablecoins, you issue a card, suddenly you're a neobank and you can spend, and it's very cool. But structurally at its core, nothing's really changing." For Mosta, the bet is that owning the dollar moving through the system beats renting someone else's. "It's just a completely different game," Lobintsev said.

Tether-backed payment app Oobit integrates Brazil’s PIX network, enabling USDT spending and settlement

Oobit, the digital payment platform backed by Tether, has launched integration with PIX—Brazil’s instant payment system—marking a significant development for the country’s crypto landscape. Now, users in Brazil can deposit Brazilian reais in Oobit’s app, instantly convert them to USDT, and make everyday payments in a familiar mobile banking environment.

With PIX, USDT becomes widely accessibleOobit reports that this new integration targets close to 170 million PIX users across Brazil. After depositing reais to the platform, users can swap their balance for USDT, thus holding a dollar-pegged digital asset while leveraging PIX’s widespread infrastructure for routine spending.

The company, widely recognized for streamlining crypto transactions for mainstream adoption, aims to simplify the use of digital assets without disrupting established payment habits.

According to Oobit advisor Alex Obchakevich, users can send USDT via PIX keys or QR codes and top up their balance instantly, delivering a seamless payment experience.

Obchakevich also points out that blockchain-based operations take place behind the scenes, ensuring the user experience remains similar to familiar banking applications. The company is focused on making crypto more accessible for Brazilian consumers via payment interfaces they already know and trust.

Quick fact: PIX is an instant payment platform launched by the Central Bank of Brazil in 2020. The system allows users to send money in seconds using phone numbers, email, ID numbers or QR codes, and has become the standard for everyday payments across the country.

Fintech competition acceleratesPIX has rapidly grown into Brazil’s dominant real-time payments network. This vast user base creates scalable opportunities for fintechs and enables stablecoin-powered services, such as Oobit, to intersect more directly with traditional finance.

Oobit’s recent move is seen as part of a broader trend toward blending local payment channels with blockchain-based settlements. Within this model, users can move seamlessly between fiat and digital assets without changing their daily financial routines.

Brazil as a standout market for Latin AmericaAdopting digital currency solutions within banking apps is seeing increasing momentum across Latin America. Last year, Circle’s collaboration with Nubank to expand USDC access was a key example illustrating the region’s intensifying competition in fintech innovation.

In this context, Brazil is emerging as an essential testing ground due to PIX’s rapid adoption and the nation’s enthusiasm for mobile payments. Platforms like Oobit aim to unite blockchain-driven liquidity and real-world spending, offering both on a single, user-friendly platform.

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.

In brief Reform UK leader Nigel Farage defended an undeclared £5 million ($6.7 million) gift from Tether stakeholder Christopher Harborne, telling interviewers on Tuesday it was "a purely private matter." The Parliamentary Standards Commissioner is investigating whether the Reform UK leader should have declared the 2024 gift after winning his seat. Farage insisted he "wasn't in politics" when he received the gift, and rejected accusations that the gift bought crypto-friendly advocacy. Nigel Farage says that what he spends his £5 million gift from a crypto billionaire on, whether it be luxury cars or the horses, is nobody's business but his own.

The Reform UK leader bristled at questions about the undeclared gift across a round of broadcast interviews on Tuesday, calling it "a purely private matter." In an appearance on LBC Radio, Farage said, "It's an unconditional gift. I can spend it on Ferraris if I want," adding, "I can do what I want with it. I can put it on the horses."

The £5 million ($6.7 million) gift came from Christopher Harborne, a British, Thailand-based billionaire who holds a roughly 12% stake in USDT issuer Tether and sits in sixth place on the Sunday Times Rich List.

The Parliamentary Standards Commissioner has opened an investigation into whether Farage should have declared the gift after he was elected MP for Clacton in 2024. New MPs must register gifts above £300 from the previous year, unless they could not reasonably be tied to political activity.

Farage insisted he "wasn't in politics" when the money changed hands, though BBC Radio 4's Nick Robinson noted that Farage had spent 40 minutes on his own podcast discussing a possible run for Parliament. Farage said that at the time he was, “far from making my mind up.”

His account of the gift's purpose has also shifted. Having argued he had no obligation to declare it as funding for his personal security, Farage subsequently described it as "a reward for campaigning for Brexit for 27 years."

He denied giving conflicting stories, saying that he was given the money “unconditionally."

“I believe it was a reward for giving up a quarter of a century of my life, giving up a huge income in the City of London, putting up with lots of abuse,” Farage told LBC Radio. “I believe that was the motive, whether it was or not. That is that side of the equation. The other side of the equation is what I intend to do with that. I’ve made that perfectly clear.”

Farage and cryptoFarage also pushed back on the idea the gift bought crypto-friendly advocacy, saying he was not paid to promote the industry because he already backed changing the law. Even if London became a crypto-trading hub, he told the BBC, "it would still be a minute part of the global market," and would not move prices "in any way at all."

He has styled himself a crypto "champion," calling for a national Bitcoin reserve and lower capital-gains taxes on digital assets.

The gift is separate from the multi-million pound donations that Harborne has made to Reform UK itself. Harborne and BitMEX co-founder Ben Delo together account for much of Reform's recent funding.

Labour has accused Farage of dodging scrutiny over the gift, which surfaced after the UK imposed a moratorium on political donations made in crypto—though neither Harborne’s gift to Farage, nor his donations to Reform UK, were made in the form of cryptocurrency.

Asked whether he would return the money if found to have broken the rules, Farage said he didn't think it was "any of your business, frankly," but that "if the standards commissioner decides that it is, we'll talk about it again." A breach could mean suspension from the Commons and, potentially, a by-election in Clacton.

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Analyst: Micron’s financial report indicates short-term fluctuations can be ignored as long as earnings prospects underpin its high valuation.

Senior Market Analyst Daniela Hathorn stated, "As Micron Technology's earnings report once again confirms that the AI investment cycle remains solid, the U.S. stock market has recouped some of its losses. This has boosted market sentiment across the entire semiconductor sector—after high-growth individual stocks underperformed earlier—indicating that as long as profit prospects continue to support high valuations, investors are still willing to overlook short-term fluctuations."

9 minutes ago

Circle partners with Nomura Securities to enter the Japanese yen foreign exchange settlement service market.

Stablecoin issuer Circle plans to collaborate with Nomura Securities to launch instant foreign currency settlement for Japanese corporate clients as early as 2027. The initiative will enable large cross-border transactions to be completed immediately, aiming to boost cross-border investment and trade. This will mark the first entry of a major stablecoin issuer into Japan’s corporate transaction market, allowing companies to convert yen into US dollar-denominated stablecoins for investment and instant transfers.

9 minutes ago

Institutions' Preview: Overview of US May Core PCE Price Index Monthly Rate

The US May core Personal Consumption Expenditures (PCE) Price Index monthly rate will be released tonight at 20:30 (UTC+8). Below are the forecasts from multiple institutions: Sumitomo Mitsui Banking Corporation: 0.2%; Royal Bank of Canada: 0.2%; JPMorgan Chase: 0.3%; Goldman Sachs Group: 0.3%; Bank of Montreal: 0.3%; Moody's Corporation: 0.3%; Standard Chartered: 0.3%; UniCredit: 0.3%; ING Group: 0.3%; HSBC Holdings: 0.3%; BNP Paribas: 0.4%; Wells Fargo: 0.4%; Capital Economics: 0.4%; Citigroup: 0.4%; Deutsche Bank: 0.4%; Nomura Securities: 0.4%; Pantheon Macroeconomics: 0.4%; Société Générale: 0.4%; Scotiabank: 0.4%; Morgan Stanley: 0.4%

9 minutes ago

DA Davidson Raises Micron’s Price Target to $2,000, Retains Buy Rating

U.S. investment bank DA Davidson released a research note stating that Micron Technology has entered a new phase with one of the best performance visibility in the semiconductor industry, a stark contrast to its past standing in the sector. Driven by another quarter of results that handily exceeded expectations and positive forward guidance, Micron’s stock price surged sharply. These signals indicate that the current memory chip boom cycle is far from over. While the company is ramping up capacity investments (with capital expenditure (CAPEX) projected to hit $10 billion in the fourth quarter of fiscal 2026, which will bring additional supply), management expects the memory market to remain tight on supply and demand at least through 2027. Against this backdrop, DA Davidson reiterated its "Buy" rating on Micron and raised its price target from $1,500 to $2,000, equivalent to a 20x price-to-earnings (P/E) ratio based on the company’s 2026 calendar year expected earnings per share (EPS).

9 minutes ago

Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.

Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.

9 minutes ago

Reform UK leader Nigel Farage has described questions over an undeclared £5 million gift from Tether investor Christopher Harborne as “entirely a private matter.” The issue resurfaced following Farage’s election as Member of Parliament for Clacton in 2024, sparking debate over whether he was required to declare the payment after winning his seat.

Official probe launched into Farage’s declarationThe UK Parliament’s Standards Commissioner has opened an investigation into whether Farage should have formally recorded the gift after becoming an MP. Parliamentary rules stipulate that newly elected members must declare any gift worth over £300 received in the previous year, unless it has no reasonable link to their political activities.

Farage maintains the money was received while he was not active in politics. However, BBC Radio 4 host Nick Robinson pointed out that, at the time, Farage devoted around 40 minutes of his own podcast to discussing the possibility of running for Parliament. Farage responded that he had not made a final decision at that stage.

In a broadcast with LBC Radio, Farage insisted the gift was unconditional, arguing that how he spends the money is nobody’s concern and saying he could even use it to buy luxury cars if he wished.

Farage’s changing explanations fuel controversyFarage’s explanation for the nature of the gift has reportedly shifted over time. He initially claimed that the money covered personal security expenses and therefore did not require declaration. Later, he said it was given in recognition of his “27 years campaigning for Brexit.” Despite criticism over these inconsistencies, Farage rejected the accusations, reaffirming that the gift was presented to him with no strings attached.

Christopher Harborne, a British businessman who has lived in Thailand for many years, reportedly holds a roughly 12% stake in Tether, the company behind the stablecoin USDT. Tether stands as one of the largest firms in the crypto asset market, known primarily for issuing dollar-pegged tokens.

Mini glossary: A stablecoin is a type of digital token designed to maintain a stable value, often pegged to assets such as the US dollar. USDT is one of the most widely used stablecoins in the crypto market for trading and liquidity purposes.

Pro-crypto stance under scrutinyFarage has dismissed allegations that the gift influenced his supportive stance towards cryptocurrencies. He emphasized that he was not paid to advocate for the industry and that he already backed legal reforms concerning digital assets prior to receiving the funds. Farage also downplayed the likely impact of London emerging as a global crypto trading hub, arguing it would have only limited effects on international markets.

Farage asserted that the funds were not intended to incentivize him to promote the crypto sector, since he already supported regulatory changes, and said that any future growth in London would not meaningfully affect global cryptocurrency prices.

According to the report, Harborne’s personal gift to Farage is considered separate from donations made to Reform UK. Harborne and Ben Delo, a co-founder of BitMEX, are said to have played a prominent role in the party’s recent financing. In the first quarter of 2026, these two donors contributed a combined £7 million to Reform UK, an amount reportedly exceeding what both the Conservative and Labour parties raised in the same period.

ItemAmountNotePersonal gift to Farage£5 millionGiven by Christopher HarborneDonations to Reform UK£7 millionDonated by Harborne and Ben Delo in Q1 2026Potential penalties on the tableThe Labour Party has accused Farage of attempting to evade oversight related to the gift. The debate has gained prominence in the wake of the UK’s moratorium on the use of crypto assets in political donations. Nevertheless, it was highlighted that neither Harborne’s gift to Farage nor his contributions to Reform UK were made in cryptocurrency.

Farage did not provide a definitive answer when asked if he would return the money should the investigation find that rules were breached. He said the issue could be reconsidered if the Standards Commissioner reached a different conclusion. A potential violation could result in Farage’s suspension from Parliament and even trigger a by-election in Clacton.

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.

Renowned economist Peter Schiff questioned the soaring market capitalization of Bitcoin (CRYPTO: BTC) proxy company MicroStrategy Inc. (NASDAQ:MSTR) compared to gold mining companies.

What Happened: In a recent X post, Schiff pointed out that MicroStrategy, despite not earning or producing much, has a market valuation exceeding all gold mining companies except for Newmont Corporation (NYSE:NEM), the largest in the sector.

Schiff even initiated an X poll, asking his followers if MicroStrategy’s market cap will eventually surpass Newmont’s. As things turned out, more than 83% voted in favor of such an outcome.

As of this writing, MicroStrategy has a market cap of $47.764 billion, narrowly trailing Newmont, which was valued at $54.42 billion. Since the beginning of the year, shares of MicroStrategy have popped an impressive 276.9%, while the gold-mining company has grown by 16.84% year-to-date.

The short-term performance also favors the Bitcoin development company, which jumped 53% over the month compared to Newmont, which fell 10.57% during the same period.

Comparing the technical indicators of the two stocks, all of MicroStrategy’s moving averages flashed a ‘Buy’ signal, while the momentum indicator Moving Average Convergence Divergence, which compares an asset’s long-term performance versus short-term, was also bullish, according to TradingView.

On the other hand, Newmont’s moving averages all indicated a ‘Sell’ signal, implying a bearish condition.

See Also: Jade City Launches MVP Platform To Revolutionize $50 Billion Jade Market With Blockchain

Powered by the Bitcoin strategy, MicroStrategy under Michael Saylor has outperformed many top players on Wall Street. With year-to-date gains of 272%, it netted higher returns this year than the “Magnificent 7” companies

As of this writing, the company held over $18 billion in Bitcoin on its books, according to bitcointreasuries.net.

Price Action: At the time of writing, Bitcoin was exchanging hands at $72,477.89, up 2.20% in the last 24 hours, according to data from Benzinga Pro. Bitcoin’s rally boosted shares of MicroStrategy up 1.14% to $258.24 on Tuesday.

Photo Courtesy: Wikimedia Commons

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The company plans to use the net proceeds to acquire additional Bitcoin and for general corporate purposes.

The 0% convertible senior notes, due 2029, will be offered to qualified institutional buyers under Rule 144A of the Securities Act and certain non-U.S. persons in compliance with Regulation S.

With an initial conversion price set at $672.40 per share—a 55% premium over the November 19 closing price—the offering highlights strong institutional demand.

MicroStrategy expects to raise $2.58 billion in net proceeds, potentially reaching $2.97 billion if initial purchasers exercise their option to acquire additional notes.

The offering is set to close on Nov. 21, pending customary conditions.

The upsized offering underscores MicroStrategy's commitment to Bitcoin as a treasury reserve asset, a strategy that has significantly boosted its market value.

Also Read: Robinhood Positioned As Top ‘Crypto Deregulation’ Trade, Says Bernstein

"MicroStrategy's market cap exceeding these gold giants demonstrates the transformative potential of Bitcoin," said Peter Schiff, who questioned whether MicroStrategy could soon surpass the entire gold mining industry's capitalization.

MicroStrategy's stock has surged 3.36% in pre-market trading, driven by Bitcoin's rally to over $94,000.

The company recently acquired 51,780 bitcoin between Nov. 11 and 17 for $4.6 billion, further consolidating its position as the largest corporate holder of the cryptocurrency.

Its Bitcoin holdings now exceed 331,000 BTC, with a cumulative acquisition cost of over $16 billion.

Executive chairman Michael Saylor has positioned Bitcoin as a hedge against inflation, a strategy initiated in 2020 that has paid off amid surging cryptocurrency prices.

While MicroStrategy doubles down on Bitcoin, other major players like Goldman Sachs (NYSE:GS) continue to focus on traditional assets.

Goldman recently projected gold prices to reach $3,000 per ounce by the end of 2025, emphasizing its role as a leading commodity trade.

Read Next: Coinbase CEO Brian Armstrong Backs DOGE Initiative: How Blockchain Could Transform Government Efficiency

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Binance Futures announced delisting of three cryptocurrencies – XEM, ORBS, LOOM.  Market prices of XEM, ORBS, and LOOM dropped by more than 4%.  As per the latest Binance announcement, Binance futures is going to delist perpetual contracts of NEM (XEM), Orbs(ORBS), and Look Network (LOOM) tokens. Binance futures made this announcement as part of their periodic review of products and their market performance. Being one of the largest crypto exchange platforms, Binance’s announcement led to tokens’ price declines. 

The delisting of USD-M perpetual contracts for XEM, ORBS, and LOOM takes place with automatic settlements on 9 December 2024 at 9:00 UTC. Binance advised users to close their open positions, if they have any, before the delisting process. And, it also advised them not to open new positions for XEM, ORBS, and LOOM contracts. 

As part of the delisting process, Binance Funding Rate Arbitrage Bot will conduct an automatic settlement and close all arbitrage strategies on XEM/USDT, ORBS/USDT, LOOM/USDT trading pairs. Once the delisting process completes, users will no longer be able to open new arbitrage strategies. 

Binance takes protective measures to prevent potential risks since cryptocurrencies are volatile assets. It will adjust maximum leverage value, position value, and maintenance margin and update funding rates, etc as precautions. 

Market prices of XEM, ORBS, LOOM tokens Following the perpetual contracts delisting announcement from Binance, market prices of XEM, ORBS, and LOOM tokens plunged sharply. XEM token price fell down by over 4% and is trading at $0.0265 at the time of reporting. Its market cap and trading volume have also dropped by 5% and 7% respectively. 

ORBS is trading at the $0.33 price level with a 24-hour price drop of 5% and its market cap is also down by 5%. The fact that its trading volume is up by 184% amidst the price drop is noteworthy. Similar to the first XEM and ORBS, LOOM token price has dropped by around 4%. 

Binance is one of the top crypto exchange platforms with billions of users across the world. Both its token listing and delisting announcements will have a huge effect on the market prices. The delisting process of Binance is result of its regular review of market performance and asset compliance. 

Highlighted Crypto News Today:

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Manisha is a proficient content writer with a keen eye for blockchain, NFTs, and fintech trends. With a passion for breaking down complex topics, she delivers insightful and engaging content for the Web3 community. Her expertise spans emerging market trends, latest news, and industry developments.

Wall Street stumbled on Tuesday, with broad losses by midday in New York as investors turned risk-off amid mounting concerns over lofty valuations, seasonal headwinds and fiscal strains.

VIXY ETF is spiking. Check live prices here. The CBOE Volatility Index (VIX) — Wall Street's "fear gauge" — surged nearly 20% to 19.2, marking its third consecutive advance.

Major equity benchmarks retreated, led by the Nasdaq 100, which slid 1.7%. The S&P 500 fell 1.4% in its first session of September — historically its weakest month of the year. The Dow lost more than 500 points or 1.1%.

Fresh economic data added to the gloom. The ISM Manufacturing PMI showed a sixth consecutive month of contraction, highlighting how tariffs, intended to shield the domestic industry, are instead driving up costs and delaying investment.

Safe-haven demand remained strong. Gold hit fresh record highs above $3,500 an ounce, while silver extended its surge past $40. In energy markets, crude oil jumped 2.6% to $65.65 after reports of renewed Ukrainian strikes on Russian oil facilities.

Bond markets also came under pressure. Long-dated yields climbed across advanced economies, with 30-year U.S. Treasuries up five basis points to 4.97% — hovering just below the closely watched 5% mark.

Bitcoin (CRYPTO: BTC) managed to escape the broader sell-off and rose 1.6% to above $110,000.

Tuesday’s Performance In Major U.S. Indices ETFsAccording to Benzinga Pro data:

Stocks On The Move TuesdayS&P 500’s Top 5 GainersS&P 500’s Worst 5 LosersRead Now:

Why Traders Fear September: 10 S&P 500 Stocks To Watch As Weak Seasonality Kicks In Photo: Shutterstock

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The ‘Singapore Collapse’ Went Viral: Here’s What’s Actually Happening

Key Takeaways Table of Contents

Key TakeawaysWall Street Target Price RevisionsInvestment Rating and Valuation AnalysisGet 3 Free Stock Ebooks Citi maintained its Buy rating while increasing NEM’s price target from $118 to $150 Bernstein upgraded NEM shares to Outperform from Market Perform, boosting the target from $121 to $157 based on positive gold market trends The company has exceeded earnings expectations for four consecutive quarters, with Q4 delivering a +24.14% EPS beat Fiscal year consensus EPS projection stands at $8.65, representing a 25.5% increase year-over-year NEM shares posted a +0.8% gain over the past month while the S&P 500 declined 2.7% during the same timeframe Newmont’s attributable gold mineral reserves decreased to 118.2 million ounces by the end of 2025, compared to 134.1 million ounces in the previous year, primarily attributed to asset divestments. However, the mining giant maintains substantial holdings of 12.5 million tonnes in copper reserves and 442 million ounces in silver reserves.

Newmont Corporation, NEM

During the fourth quarter, Newmont delivered revenues totaling $6.82 billion, marking a 20.6% increase compared to the prior-year period. The company reported earnings per share of $2.52, significantly higher than the $1.40 recorded in the same quarter last year.

Both metrics exceeded Wall Street projections. The revenue figure surpassed the analyst consensus of $6.06 billion by 12.58%, while earnings per share beat forecasts by 24.14%.

This marks the fourth consecutive quarter where the company has outperformed consensus EPS projections. Revenue estimates have similarly been exceeded throughout this entire period.

Analysts project Q1 EPS of $1.91, representing a 52.8% increase from the corresponding quarter in the previous year. This consensus forecast has been revised upward by 10.4% in the last 30 days.

For the complete fiscal year, the consensus EPS forecast is positioned at $8.65, indicating 25.5% year-over-year expansion. This projection has seen an 11.2% upward revision over the past month.

Wall Street Target Price Revisions Citi announced on March 3 that it was raising its price objective on NEM from $118 to $150, while reaffirming its Buy recommendation.

Bernstein made its move earlier, on February 27, elevating the stock from Market Perform to Outperform status and increasing its price target from $121 to $157.

Bernstein cited an optimistic outlook for gold prices as the primary catalyst. The research firm also highlighted the appointment of a new CEO with a defined strategic vision, what it described as realistic guidance targets, and enhanced relations with Newmont’s primary joint venture collaborator.

Investment Rating and Valuation Analysis Zacks has assigned NEM a #1 Strong Buy rating. This ranking reflects the magnitude and trajectory of recent earnings estimate adjustments.

From a valuation perspective, Newmont receives a C grade within the Zacks Value Style Score framework, indicating the shares are trading at levels comparable to industry peers — neither undervalued nor overextended.

During the last month, NEM delivered a +0.8% return, contrasting with the S&P 500’s 2.7% decline. The broader Zacks Mining – Gold sector advanced 4.6% during this same period.

Analysts anticipate current quarter revenues of $5.87 billion, which would represent a 17.2% year-over-year expansion. Full-year revenue projections are set at $24.01 billion and $27.65 billion for fiscal years 2025 and 2026, respectively.

Tezos Expands Its RWA Footprint as Metals.io Goes Live With Tokenized Commodities

Art on Tezos is no longer a niche experiment; at TezDev 2026 in Cannes, it felt like a working model of where digital culture is going next.

Summary

At TezDev 2026 in Cannes, “Art on Tezos” staged an immersive, projection-mapped environment that framed on-chain work as a living model for digital culture. Speakers highlighted how Tezos lowers costs and barriers so artists from Kurdistan, Africa and South America can build sustainable practices and even escape repression. Trilitech’s planned Tezos-powered exhibition at HEK Basel signals that on-chain art is moving deeper into museum ecosystems, compressing photography’s century-long legitimation curve. TezDev 2026 in Cannes shows how Tezos art has evolved from NFTs into global, politically charged and increasingly institutional grade digital culture and infrastructure.

Art on Tezos: The Future of Digital Creativity Hosted at the Hôtel Martinez on March 30, “Art on Tezos: The future of digital creativity” unfolded as an immersive environment rather than a standard panel. Projection‑mapped works wrapped the room in moving images while a conversation between artists, curators, and ecosystem builders traced how on‑chain art has evolved from early NFTs into complex generative systems and responsive installations.

https://twitter.com/aljaparis/status/2038966745914880366?s=20

For curator and art advisor Brian Beccafico, Tezos’ real innovation is who it brings into the conversation. Drawing on his work with marketplaces like Objkt, he stressed that on Tezos “you get to meet a lot of artists coming from places that usually just don’t have access to the broader art markets… artists from Africa… South East Asia, South America,” a sharp contrast with a global art economy where “pretty much 70 percent of global value auctioned… is auctioned in New York.” Lower costs and open tooling translate into economic reality: “even if you’re selling artwork for 100 bucks a piece… in a country where the average income is 300 bucks a month, that’s… sustainable for an artist.”

Aleksandra Art, Head of Arts at Trilitech, placed this shift in a longer media history that runs from early photography to Instagram and now blockchain. She reminded the audience that photography itself was once dismissed—“wait, photography is art? What? Like, no, it’s just a picture”—before fairs, critics, and collectors built a new ecosystem around it. The same dynamic is now playing out in digital art: “we had Instagram launch and all of a sudden there are Instagram artists… that don’t need gallery representation,” and blockchains plus marketplaces extend that logic by “creating these networks that congregate people who are passionate about it.” For her, the crucial break is that digital work “doesn’t have to be a confined gallery space… it can be a vertical screen, horizontal screen, HTML, site specific work,” accessible globally “at any point of time” with “similar experiences for different people.”

Beccafico pushed the political edge of this transformation. He recalled exhibitions where artists from Kurdistan “used crypto to flee terrorism, to flee ISIS during the war in Syria,” arguing that cypherpunk ideals still matter: “being able to free yourself from state‑owned currency, state‑owned control, and censorship is still very much a reality in today’s art world.” The result is a scene in which artists from Iraq, Turkey, South America, and beyond are no longer at the margins but, in his words, “the future of both crypto and the future of the art world.”

Alongside Aleksandra and Beccafico, the session’s participants—Vinciane Jones (Art Partner Manager, Trilitech), artists Patrick Tresset and Georg Eckmayr, and others—situated Tezos inside a broader genealogy of systems‑driven practices, from algorithmic drawing to AI‑assisted installations, now made verifiable and tradable on‑chain. Their discussion aligned with the wider TezDev 2026 program, which underscored how protocol upgrades like Tezos X and faster Etherlink confirmations are intended to support richer real‑time art and gaming experiences, not just finance.

From Cannes to Basel: Institutional Futures for On‑Chain Art Trilitech signaled that TezDev’s immersive exhibition is not a one‑off but part of a longer institutional arc. The team previously announced plans for a forthcoming Tezos‑powered show at HEK (Haus der Elektronischen Künste) in Basel, curated by the established duo Dr. Alfredo Cramerotti and Auronda Scalera, known for pioneering projects at Art Dubai Digital and other major venues that connect blockchain, NFTs, and critical media art. Their involvement points to a future in which on‑chain practices move even further into museum contexts, bringing Beccafico’s emerging‑market artists and Aleksandra’s “fluid,” screen‑native works into dialogue with decades of digital and conceptual experimentation.

If photography’s journey from “just a picture” to museum cornerstone took a century, Tezos (TEZ) artists are compressing that curve into a few intense years, using blockchains not only as markets but as infrastructure for new forms of authorship, community, and survival.

Tezos Expands Into Dubai and Singapore With New Ecosystem Entities

GeneralWhat it is, why it's being proposed, and how the canonical LST could fit into the Tezos ecosystem

8 minute read

April 22, 2026

On Tezos, participation has always been fairly straightforward. For years, delegation has allowed anyone to earn rewards while keeping their tez liquid and fully accessible at all times. With the ParisB upgrade, staking was introduced as a more active option, where users can lock their tez to earn higher rewards while contributing more directly to network security.

Between delegation and staking, it feels like the bases are covered. One offers flexibility and liquidity, the other offers higher rewards in exchange for locking funds. Both serve clear purposes, and so far, they’ve been working well.

But now, a new approach is being proposed. A couple of months ago, a concept called the “Enshrined Liquid Staking” was introduced on Tezos Agora as another potential option around staking. So naturally, a few questions come up.

What exactly is it? How would it work? And maybe most importantly, do we even need it? Here’s how I’ve come to understand it.

The Limits of Delegation and Staking #What Tezos offers today works well within its own environment. Delegation and staking both do what they’re supposed to do, and for a long time, that’s been enough. But things start to shift once you move beyond that.

If you decide to take your tez into DeFi, or move it to environments like Etherlink (upcoming Tezos X), that connection breaks. Your tez is no longer part of the staking flow. It’s active elsewhere, but at the same time, it’s not earning staking rewards, and it’s no longer contributing to securing the network.

This isn’t unique to Tezos. Across other ecosystems, similar patterns have led to the rise of third-party liquid staking solutions, tokens that represent staked assets while still being usable elsewhere. Things like stETH on Ethereum follow this idea, allowing users to stay exposed to staking while still participating in DeFi. Tezos has already seen early versions of this approach as well, with solutions like stXTZ aiming to bridge that gap.

But as useful as these solutions are, they also introduce a new set of considerations.

Once you introduce a third-party liquid version of staked assets, the way staking works starts to shift.

Instead of interacting directly with the protocol, users rely on an additional layer that handles staking on their behalf. Depending on the design, that layer can involve smart contracts, operators, or specific coordination mechanisms that sit between the user and the network. That changes a few things.

At the network level, stake is what secures Tezos and what gives participants influence in governance. If more and more of that stake is routed through the same liquid staking systems, it can start to concentrate in fewer places. Not because it’s designed that way, but because liquidity naturally pulls users toward the same solution. Over time, that concentration can matter. It can influence how stake is distributed across bakers, and potentially who ends up having more say in the network.

There’s also the question of trust. Even when systems are transparent, users are no longer interacting only with the protocol, they are relying on how that system is built and maintained. Smart contracts reduce the need for intermediaries, but they don’t remove risk entirely. Bugs, upgrades, or admin keys can all affect how that system behaves over time.

None of this makes liquid staking tokens a bad approach. It solves a real need, and it’s already widely used across the industry. But it does introduce an extra layer between users and the protocol, and that layer comes with tradeoffs that need to be understood.

A Different Approach: Protocol-Level Liquid Staking # source: Mathias Bourgoin’s presentation at TezDev

So what if that extra layer didn’t sit outside the protocol, but inside it? That’s the idea behind the proposed canonical LST on Tezos.

Instead of relying on external systems to manage staking, the mechanism is built directly into the protocol itself. There’s no separate operator, no admin keys, and no third-party contract managing the process. From a user perspective, the interaction stays familiar, but the logic behind it is handled directly by the protocol. The rules are defined at that level and follow the same governance process as everything else on Tezos.

From a user perspective, the flow is straightforward. You deposit tez and receive a liquid token in return (sTEZ). That token represents your share of the underlying stake and can be held, transferred, or used elsewhere, just like any other standard token.

At the same time, this doesn’t mean the system is “hands-off.” There are still mechanisms in place to manage how stake is distributed, how risk is handled, and how the system avoids the kind of concentration we discussed earlier. The difference is that all of this is defined at the protocol level, rather than being handled by an external layer.

So how does that actually work in practice?

How It’s Designed to Work # Source: Canonical LST Whitepaper

At a high level, the idea is simple. You deposit tez into the system and receive a liquid token in return, commonly referred to as sTEZ. That token represents your share of the underlying stake and can be held, transferred, or used elsewhere, just like any other token. From there, the system follows an accrual model.

Instead of distributing rewards as separate payouts, rewards are reflected in the value of the token itself over time. In simple terms, one sTEZ gradually becomes worth more tez as rewards accumulate. The same applies in the opposite direction, where if slashing occurs, that value can decrease as well. When you want to exit, you redeem your sTEZ. The system initiates an unbonding process, similar to unstaking today, and once that period is complete, you receive your tez back.

Behind the scenes, the protocol takes care of how stake is distributed across bakers. But unlike traditional delegation or staking, bakers actively choose to participate in this system. They register and define specific parameters, such as how much of their capacity they allocate to this form of staking and the fee applied to it.

The main difference is that users are no longer the ones deciding where their stake goes. Instead, the protocol handles the allocation itself, spreading it across participating bakers while respecting those parameters and keeping things within limits designed to avoid concentration and maintain a more balanced distribution.

One important detail is that this stake does not carry governance rights. Even though it contributes to securing the network, it doesn’t participate in voting. That separation is intentional, as it avoids concentrating governance power through a liquid token that could otherwise scale quickly across the ecosystem.

So where does this leave us? This isn’t meant to replace delegation or staking. Those are still the core ways people participate in Tezos today. This just adds another option, one that brings liquid staking into the protocol itself, without relying on external solutions and the tradeoffs that come with them.

If it works as intended, it could lead to more tez being staked while still remaining usable elsewhere. That would probably increase the overall staking ratio over time, which in turn can reduce issuance. It might also make it easier for newer bakers to get external stake, which feels really helpful when you are starting out. Keep in mind, this is just how I’ve come to understand things based on what’s been shared so far.

The canonical LST is part of the Ushuaia proposal. If it passes, it won’t be fully active right away. Instead, it would be introduced behind a feature flag, allowing it to be tested in controlled environments like testnets and refined over time. Activation would only come later, in the next (V) proposal, once the system has been evaluated in practice.

There are still parameters and details that need to be finalized, and these are already being discussed on Tezos Agora. If you’re interested in digging deeper, check out the TezDev presentation from Mathias Bourgoin, the whitepaper, and the discussion on Tezos Agora. And if you have an opinion on this, don’t just keep it to yourself, jump into the Agora thread and be part of the conversation.