Cointelegraph

Kelp, a liquid restaking protocol, was the victim of a cyber attack on Saturday, causing the platform to pause smart contracts for its restaking token (rsETH), as it “investigates” the attack amid reports of hundreds of millions of dollars in losses.

“Earlier today, we identified suspicious cross-chain activity involving rsETH. We have paused rsETH contracts across mainnet and several Layer-2s,” the Kelp platform said in an X post.

The attacker exploited the rsETH adapter bridge contract, the software code that manages Kelp’s rsETH token, and drained the platform of about $293 million in funds, according to blockchain security firm Cyvers.

Source: Cyvers

The attacker used a Tornado Cash crypto mixer-funded address and has already converted about $250 million of the stolen funds to Ether (ETH), the native cryptocurrency of the Ethereum layer-1 blockchain network, Cyvers told Cointelegraph.

In response to the attack, decentralized finance (DeFi) platform Aave announced it had frozen rsETH markets on Aave V3 and V4. At least nine crypto protocols had exposure to the token and have frozen activity on their platforms in response, Cyvers said.

Source: Aave

“This is exactly the kind of incident that highlights the risks of composability in DeFi,” Deddy Lavid, CEO of Cyvers, told Cointelegraph. Cointelegraph reached out to Kelp but did not obtain a response by the time of publication. 

The incident is the latest in a string of cybersecurity hacks and exploits of crypto platforms over the last several months, as crypto losses from hacks and scams totaled about $482 million in Q1 2026.

Drift Protocol hacked for $280 million

Decentralized cryptocurrency exchange Drift Protocol also suffered an exploit in April, which drained the platform of about $280 million.

The Drift Protocol team said the attack took “months of deliberate preparation,” in which the team was infiltrated by suspected North Korean state-affiliated hackers.

In a post-mortem update, the Drift team said they met the attackers at a “major” crypto conference and collaborated with them for several months before the attackers deployed malware on developer machines and compromised the platform. 

Magazine: DeFi’s billion-dollar secret: The insiders responsible for hacks

Key takeaways:

Solana maintains its market dominance in DEX volume and TVL despite SOL’s underperformance versus its peers.

Easing sell pressure from volatile geopolitics and a resurgence in memecoin activity could catalyze a SOL price rally to $100.

Solana’s native token SOL (SOL) gained 10% within five days, reaching a three-week high on Friday. This price movement followed a generalized excitement after the US and Iran announced a ceasefire extension, which led to an 8% decline in crude Brent oil prices. Demand for SOL futures surged as open interest jumped by 20% since Sunday, causing traders to question if the SOL price is bound for $100.

SOL futures aggregate open interest, SOL. Source: CoinGlass

SOL futures aggregate open interest rose to $4.2 billion on Friday, up from $3.5 billion on Sunday. While an increased appetite for leveraged positions indicates institutional investor participation, longs (buyers) and shorts (sellers) remain matched at all times. However, any eventual imbalance in the demand for leveraged positions should be visible within the perpetual futures markets.

Under neutral conditions, the annualized funding rate should range between 5% and 10% to compensate for the cost of capital. 

SOL perpetual futures annualized funding rate. Source: Laevitas

Data showing a 3% rate signals low confidence from bulls, although this remains distant from the extreme fear levels seen on April 7 when SOL prices plunged below $80. A negative funding rate indicates that shorts are paying to keep positions open, which is fairly unusual in cryptocurrency markets.

Total crypto market capitalization (USD billions, left) vs. SOL/USD. Source: TradingView

Despite the recent gains, SOL has underperformed the broader cryptocurrency market by 13% in 2026. A reduced appetite for decentralized applications (DApps) likely played a part, but the Solana network remains a strong contender due to its vice-leadership position in Total Value Locked and dominance in decentralized exchange (DEX) volumes.

Solana network weekly DApps revenue, USD. Source: DefiLlama

Solana network DApp revenues have trended down over the past few months, currently totaling nearly $16 million per week. However, this trajectory is not exclusive to Solana; DApps on the Ethereum network accrued $10 million in revenue over the past week, while BNB Chain stood at $4 million. Fading interest in DEX activity remains the primary driver behind this declining revenue across the industry.

Memecoin rally, shorts covering could send SOL to $100

Multiple memecoins jumped 40% or higher between Wednesday and Friday, which likely contributed to the heightened demand for SOL futures. 

Best performing Solana tokens in 7 days. Source: CoinGecko

During the previous memecoin rally in early 2025, Solana emerged as a leader in terms of users and activity, especially following the launch of the Official Trump (TRUMP) memecoin. Consequently, any sign of increased demand for memecoins is typically viewed as a positive indicator for SOL price.

Solana has proved itself a serious contender for the next wave of DApp users, whether centered on AI agents or speculative trading. The robustness of its validators and the integrated user experience provided by Web3 wallets make a compelling case for a sustained SOL price rally.

Ultimately, weak demand for bullish leverage on futures places little constraint on SOL regaining momentum. Reduced pressure from the war in Iran may serve as the catalyst for SOL shorts to cover their positions, providing the necessary spark for a potential upside toward $100.

The Bitcoin (BTC) mining difficulty, the relative challenge of adding new blocks to the BTC blockchain, fell on Saturday, amid public mining companies selling record amounts of BTC to cover operating expenses.

The Bitcoin mining difficulty fell to about 135.5 T, a modest decrease of about 1.1% over the last 24 hours, according to data from CoinWarz. Mining difficulty is also projected to increase in the next adjustment period. CoinWarz said:

“The next Bitcoin difficulty adjustment is estimated to take place on May 01, 2026, 01:24:54 PM UTC, increasing the Bitcoin mining difficulty from 135.59 T to 137.43 T, which will take place in 1,865 blocks, about 12 days, 18 hours, and 41 minutes from now.”

Bitcoin mining difficulty between 2014 and 2026. Source: CoinWarz

Bitcoin miners have faced mounting challenges over the past year, as reduced block rewards, rising energy prices, a crypto bear market and geopolitical shocks create economic headwinds for miners. 

Public mining companies sell record amounts of BTC

Publicly traded Bitcoin mining companies sold more BTC in Q1 2026 than all four quarters of 2025 combined, according to TheEnergyMag.

Mining companies MARA, CleanSpark, Riot, Cango, Core Scientific and Bitdeer, sold more than 32,000 BTC in total during Q1 2026, TheEnergyMag said.

The combined sales surpassed the 20,000 BTC sold in Q2 2022, the same quarter as the collapse of the Terra-Luna ecosystem, which plunged crypto into an extended bear market.

Miners periodically sell their BTC to cover operating expenses, which are denominated in fiat currency.

However, as the cost of mining a single BTC increases past spot market prices, many BTC mining companies are now treading water.

Mining companies’ cost of mining a single BTC. Source: TheEnergyMag

Up to 20% of Bitcoin miners are unprofitable under current economic conditions, according to asset manager CoinShares’ Q1 2026 mining report.

“Q4 2025 marked the most challenging quarter for Bitcoin miners since the April 2024 halving,” the CoinShares report said.

The authors cited the “sharp” BTC correction in October 2025, which slashed BTC’s price from a high of about $125,000 to about $86,000 by December 2025, and the rising computational difficulty of adding blocks as headwinds for the mining industry.

Magazine: 7 reasons why Bitcoin mining is a terrible business idea

Iran’s government naming Bitcoin (BTC) as a payment method for oil ships crossing the Strait of Hormuz highlights its role as a neutral, strategic asset, according to Sam Lyman, head of research at digital asset advocacy organization Bitcoin Policy Institute (BPI). 

The government selected BTC as one of the payment methods for the tolls because of its censorship-resistant qualities, Lyman told Cointelegraph. He said: 

“This is one of the most significant situations where Bitcoin is very clearly a strategic asset. The reason why Iran wants to use Bitcoin for these transactions is that no one can freeze Bitcoin. No one can shut down the Bitcoin network.”

Iran is accepting oil tolls in Chinese yuan, US dollar-pegged stablecoins and BTC. However, there is “no onchain evidence” of a BTC toll payment so far, Lyman said, adding that the “majority” of Iran’s crypto transactions are denominated in US dollar stablecoins.

Transactions carried out by the Iranian Revolutionary Guard Corps account for nearly half of the total crypto market volume in Iran. Source: BPI

The announcement from the Iranian government highlights why US lawmakers should recognize and treat Bitcoin as a strategic asset, rather than taking a hostile regulatory stance toward it or dismissing digital assets altogether, Lyman told Cointelegraph.

Stablecoin confiscation is just a cost of doing business

“Iran has had a digital asset strategy for several years, going back to about 2018, and the majority of transactions that take place there are with USDt,” (USDT), Lyman said. USDt is a dollar-pegged stablecoin issued by the company Tether.

The Iranian government is using stablecoins, despite the ability of stablecoin issuers to freeze wallets, he said. “I think they're rolling the dice,” Lyman told Cointelegraph.

He said that the Iranian government has been able to shift about $3 billion in cryptocurrencies since 2022, with the “majority” of that value denominated in stablecoins.

However, the US Treasury Department was only able to freeze about $600 million in assets, according to Lyman.

“They were able to move $3 billion, and only have $600 million frozen. They were still able to move about $2.4 billion. So, I think that's why stablecoins are still a go-to for the regime,” he said.

Magazine: Big Questions: Can Bitcoin save you from the dreaded Cantillon Effect?

Poland’s parliament has once again failed to overturn a presidential veto blocking a key crypto regulation bill, extending the political standoff over how the country should oversee digital assets.

In a vote held Friday, lawmakers fell short of the 263 votes required to override the veto issued by President Karol Nawrocki, local outlet TVP World reported. A total of 243 MPs voted against the veto, while 191 supported it, per the report.

The bill, backed by Prime Minister Donald Tusk, aims to align Poland with the European Union’s Markets in Crypto-Assets Regulation (MiCA), introduced in 2024 to govern the issuance and custody of crypto assets. Poland remains the only EU member state yet to implement the bloc’s framework.

Nawrocki has defended his decision, citing concerns over excessive regulation, limited transparency and the potential burden on small businesses, according to the TVP World report.

However, government officials warn that delaying regulation leaves investors exposed. Finance Minister Andrzej Domański reportedly said the absence of clear rules risks turning the market into an “El Dorado for fraudsters,” adding that both consumers and businesses remain vulnerable to abuse.

Poland’s crypto bill faces repeated defeats

The failed overturn of the presidential veto marks the second unsuccessful attempt by the government to push the legislation through after a similar rejection in December.

However, despite the failure, Polish lawmakers reintroduced the regulation within days in December last year. They claimed that the new draft was an “improved” version, though critics said it was virtually unchanged from the original.

Tusk criticizes president for vetoing the bill. Source: Koalicja Obywatelska

President Nawrocki vetoed the bill again in February this year. “I will not sign a wrong law just because it was passed again by the parliamentary majority. A wrong law that passed a hundred times still remains a wrong law,” he said at the time.

Zonda caught in Poland crypto political row

The dispute has also drawn in Zonda, the country’s largest crypto exchange, which has reportedly lobbied against the bill. Tensions escalated after Tusk accused the platform of links to illicit funding, citing intelligence reports that allegedly connect its origins to Russian criminal networks.

“Attempts to drag me and Zonda into the current political squabbles are as absurd as they are harmful to the Polish innovation market,” Zonda CEO Przemysław Kral wrote on X, adding that he is “compelled to take appropriate legal steps to protect my personal rights.”

Last week, he also said he does not control access to a crypto wallet reportedly holding $330 million, which he claims remained with former CEO Sylwester Suszek prior to his disappearance in 2022.

Magazine: Bitcoin may take 7 years to upgrade to post-quantum — BIP-360 co-author

Stablecoins behave like a fragmented foreign exchange market, where liquidity is spread across blockchains and pools, creating price differences and uneven access to dollar liquidity.

Moving stablecoins looks simple on the surface. But under the hood, it’s often a multi-step transaction routed across chains and pools.

“It’s a very special case of a foreign exchange market onchain, and that leads to bad user experience, with unexpected slippage, transaction reversion and unfamiliar information when moving your dollar from point A to point B,” Ryne Saxe, CEO at stablecoin infrastructure company Eco, told Cointelegraph.

Stablecoins now have a market capitalization above $320 billion, led by Tether’s USDt (USDT) and Circle’s USDC (USDC). 

But as institutions and large traders enter the market, moving large sums of stablecoins becomes harder to execute cleanly.

Stablecoins have continued to grow despite bearish crypto market sentiment. Source: DefiLlama

Stablecoins aren’t as fungible as they seem

A stablecoin may be pegged to the dollar — or other fiat currencies — but it does not trade as a unified asset, with liquidity split across issuers, blockchains and decentralized finance (DeFi) venues, each with its own depth, pricing and access conditions.

“Stablecoins, between them, aren’t very fungible,” said Saxe. “The different profiles between those markets mean pricing and moving stablecoins seamlessly and efficiently across them is actually a hard problem that people take for granted.”

In practice, a dollar stablecoin on one chain may not be equivalent to the same asset elsewhere. Differences in collateral backing, market access and liquidity depth create pricing gaps that widen with size or in thinner markets.

Those differences are typically negligible in liquid markets and for smaller transactions. But as trades get larger, the gaps become bigger.

“The more major DeFi markets focus on stablecoins, the more chains focus on stablecoins, the more stablecoin assets there are, the more fragmented,” Saxe said. “People think these are just dollars, but they’re actually not.”

In a March report, payments startup Borderless found that pricing divergence in stablecoins depends largely on where liquidity is sourced.

USDC and USDT trade at near-identical prices in most corridors, with 91% of pairs within 10 basis points. Source: Borderless

The report collected hourly buy and sell rates throughout February across 66 stablecoin-to-fiat corridors — or conversion routes such as USDC to Mexican pesos — covering 33 currencies and seven blockchains. The data showed that USDC and USDT traded almost identically in most cases.

Larger differences emerged at the provider level, where pricing gaps in the same corridor could exceed hundreds of basis points, making execution quality dependent on access to liquidity and routing across venues.

Stablecoins become harder to move at size

As stablecoins currently stand, their market structure resembles foreign exchange, where dollar proxies circulate across disconnected markets, according to Saxe. That becomes more visible in larger stablecoin movements across chains.

Stablecoins have become a centerpiece for institutions moving into digital assets, used for trading, cross-border payments and onchain treasury management. Firms rely on them to move capital between venues, settle trades and access yield opportunities across DeFi markets.

Some banks have begun issuing their own stablecoins, such as Societe Generale’s euro-backed token. Source: Societe Generale

Unlike retail users, institutions often move tens of millions of dollars at a time, where execution needs to be fast, predictable and efficient.

“If liquidity is spread out, trying to sell $10 million of one stablecoin and buy $10 million of another in a single step will move the market,” Saxe said. “What usually needs to happen is breaking that transaction into multiple branches, which may route differently and converge at the destination.”

In such cases, fragmentation becomes a constraint. Instead of drawing from a single pool of dollar liquidity, institutions must navigate multiple chains, issuers and venues, each with different liquidity conditions. Moving size can shift prices, require splitting trades and introduce uncertainty into execution.

“Right now, they don't have the risk management, trust and infrastructure that they need to move or hold a lot of stablecoins at size onchain by default,” Saxe said.

Stablecoins need infrastructure, not more supply

Companies are starting to build infrastructure to address those gaps, but they are doing so from different assumptions about what the problem actually is.

Circle is treating stablecoins as the foundation of a new FX system, where multiple currencies, liquidity providers and settlement layers are connected through shared infrastructure. Meanwhile, Eco focuses on routing and execution, aggregating liquidity across fragmented markets.

Both approaches point to the issue of stablecoins existing across multiple chains or issuers, but the liquidity behind them is distributed and uneven. Moving funds requires interacting with that fragmented liquidity, which introduces pricing differences, routing complexity and execution risk. 

“Fragmentation creates more spread between prices, meaning worse execution in many cases. To solve that, you need to read across markets, see the full liquidity picture, even if it’s fragmented, and route across it,” Saxe said.

For institutions, that complexity directly limits how much capital can move onchain. As Saxe explained, stablecoin flows need to become far more predictable before institutions have the risk management and trust required to move or hold large amounts onchain.

Magazine: Will the CLARITY Act be good — or bad — for DeFi?

Spot Bitcoin exchange-traded funds (ETFs) recorded nearly $1 billion in net inflows over the past week, marking their strongest performance in more than three months as market sentiment shifts toward risk assets.

Data from SoSoValue shows that spot Bitcoin (BTC) ETFs attracted $996 muillion in total net inflows last week, the highest weekly intake since early January, when inflows reached about $1.4 billion.

Friday saw $663.9 million in inflows, the strongest single-day performance of the week. Earlier gains included $411.5 million on Tuesday and $186 million on Wednesday, followed by a more modest $26 million on Thursday. The period began with a $291 million outflow on Monday.

Spot Bitcoin ETFs see nearly $1 billion in weekly gains. Source: SoSoValue

Total net assets across spot Bitcoin ETFs climbed above $101 billion by Friday, alongside a sharp increase in trading activity, with daily volumes nearing $4.8 billion.

Markets price in de-escalation

According to analysts at Bitunix, markets are increasingly pricing in how geopolitical tensions evolve rather than whether they persist. Signs of de-escalation, particularly around US–Iran relations, have reduced extreme risk scenarios, weakening demand for traditional safe havens like the US dollar, they said.

The analysts added that the Federal Reserve is still taking a cautious approach, and expectations for rate cuts remain limited. At the same time, concerns about US debt demand and high long-term yields are starting to weaken confidence in traditional “risk-free” assets. This has contributed to additional pressure on the dollar, further supporting flows into alternative assets, including Bitcoin.

“In crypto market structure, BTC is currently in a classic liquidity redistribution phase,” they wrote, adding that Bitcoin continues to trade in a defined range, with resistance above $75,000 and support forming near $72,000. “Liquidation heatmaps suggest the market is building a new equilibrium range rather than extending a directional trend,” they said.

Bitcoin surges as Strait of Hormuz reopens

On Friday, Iran’s foreign minister announced that the Strait of Hormuz has been reopened to commercial shipping for the duration of the current ceasefire, a move quickly confirmed by US President Donald Trump. The decision eased immediate fears of supply disruption in one of the world’s most critical oil transit routes, triggering swift reactions across global markets.

Bitcoin surged above $77,000 following the news, while Brent crude fell roughly 10% to around $85 per barrel.

Magazine: Solana vs Ethereum ETFs, Facebook’s influence on Bitwise — Hunter Horsley

The US Securities and Exchange Commission has filed a lawsuit against crypto executive Donald Basile, accusing him and two companies he controlled of raising about $16 million from investors through false claims tied to a so-called “insured” crypto token known as Bitcoin Latinum.

In a complaint filed Friday in the US District Court for the Eastern District of New York, the SEC alleged that Basile ran the scheme between March and December 2021 through Monsoon Blockchain Corp. and GIBF GP Inc., offering investors Simple Agreements for Future Tokens (SAFTs) that promised future delivery of the token, according to a report from The Wall Street Journal.

Regulators said hundreds of investors were told the asset was backed and insured, but the SEC alleged no insurance company ever provided coverage or any proof that these claims were true, per the report.

The case marks one of the few SEC enforcement actions under the Trump administration, which has signaled a more crypto-friendly regulatory stance compared to previous administrations.

Crypto funds spent on luxury

The SEC said Basile repeatedly represented that Bitcoin Latinum was an insured, asset-backed cryptocurrency and that investor funds would help support its underlying value. Instead, the complaint alleges, millions of dollars were diverted to personal spending, including real estate purchases, credit card payments and the acquisition of a $160,000 horse.

The regulator is seeking permanent injunctions, repayment of allegedly ill-gotten gains with interest, civil penalties, and a ban on Basile’s participation in securities offerings, according to the WSJ. It also wants an officer-and-director bar preventing him from leading public companies in the future.

The Bitcoin Latinum website currently shows a 404 error.

Bitcoin Latinum website not working. Source: Bitcoin Latinum

SEC criticizes past crypto cases for lacking benefit

Last week, the SEC said many past enforcement actions against crypto firms did not directly benefit investors and reflected a focus on case volume rather than meaningful protection. The agency reported that since fiscal 2022 it brought 95 actions and collected $2.3 billion in penalties for “book-and-record” violations, but several cases involving crypto registration and dealer definitions did not identify clear investor harm.

The SEC also said this approach reflected a misinterpretation of securities laws and a misallocation of enforcement resources. Under Chair Paul Atkins, appointed in 2025, the agency says it has moved away from “regulation by enforcement” and is now prioritizing fraud, market manipulation and serious abuses of trust.

Magazine: Your guide to surviving this mini-crypto winter

Stablecoin issuer Circle has launched USDC Bridge, enabling users to transfer USDC natively between at least 17 blockchains without needing to rely on wrapped or synthetic tokens.

On Friday, Circle’s USDC X account said the bridge allows users to move the USDC (USDC) stablecoin in a “predictable, transparent way,” citing a native burn-and-mint transfer mechanism and no bridge complexities.

Gas fees will be handled automatically, fees will be shown upfront, and live status updates will be provided throughout the transfer, Circle added.

Source: Circle

The USDC Bridge builds on Circle’s Cross-Chain Transfer Protocol (CCTP), which was introduced in April 2023 and facilitates hundreds of millions of stablecoin transfers each day.

Cross-chain bridges seek to make the broader crypto ecosystem interoperable, functioning as a unified network rather than a collection of fragmented, isolated blockchains.

Making bridges as simple and easy to use as possible has been an area of focus for many crypto infrastructure firms. 

In the past, bridges have confused users and arguably slowed crypto adoption, especially for beginners struggling to navigate bridge interfaces, trade routes and gas fees.

USDC Bridge supports over a dozen blockchains

Cointelegraph found that USDC Bridge supports USDC transfers between at least 17 Ethereum Virtual Machine-compatible blockchains, including Ethereum, Avalanche, Arbitrum, Base, Monad, Optimism, Polygon, Sonic and World Network.

Circle’s CCTP supports a broader number of blockchains, including Solana, Sui and Aptos, which are not natively EVM compatible.

On Wednesday, Circle was hit with a class action for failing to freeze around $230 million worth of USDC that moved through its CCTP from the Drift Protocol exploit on April 1.

Circle is accused of aiding and abetting conversion and negligence. 

More than 100 members are involved in the class action. The law firm representing them, Mira Gibb, is seeking damages, with the final amount to be determined at trial.

Magazine: Are DeFi devs liable for the illegal activity of others on their platforms?

Social media platform X has already generated roughly $1 billion in trading volume from its new Cashtags feature, which allows users to view stock and crypto data directly from the app.

In a post to X on Friday, the company’s head of product, Nikita Bier, said the estimated $1 billion in trading volume was reached after launching on Tuesday night, citing data aggregated from X’s trading pilot.

Based on aggregated data from our trading pilot, X has driven a estimated $1 billion in trading volume globally since launching on Tuesday night. https://t.co/TimRE4U37S

— Nikita Bier (@nikitabier) April 17, 2026

The new feature — currently only available to US and Canadian users on iPhones — is part of Elon Musk’s vision of turning X into an “everything app,” including peer-to-peer payments and e-commerce.

X sees more than 550 million users each month, positioning it as one of the largest social media platforms globally and giving it the ability to compete with established financial information providers in delivering market-related content and data.

Cashtags allow users to select a specific asset or smart contract address when posting a ticker, and tapping a tag displays live price charts and related posts.

Online brokerage Wealthsimple partnered with X to integrate the Cashtag feature, enabling Canadians to click on crypto and stock tickers and be taken directly to its trading platform.

The Cashtags feature hasn’t been integrated with a US brokerage yet.

X Money is coming too

Musk’s company also has X Money in the pipeline, a peer-to-peer payments system that seeks to offer yield-bearing accounts, a cashback debit card and other perks.

X rolled out an external beta of X Money in early March, showing payments between Musk and Hollywood actor William Shatner, who played Captain Kirk in the original Star Trek series.

The integration of crypto payments into X Money remains a mystery, however.

Over the last few years, X has secured money transmitter licenses in over 40 US states and registered with the Financial Crimes Enforcement Network to make peer-to-peer payments possible on the platform.

Magazine: Should users be allowed to bet on war and death in prediction markets?

Worldcoin fell 13.4% to roughly $0.28 on Friday as World, the identity-focused company led by OpenAI CEO Sam Altman, unveiled several new integrations for its “proof of human” stack, which uses iris-scanning technology to verify identities.

Video conferencing tool Zoom is integrating World’s Deep Face authentication to prevent deepfakes, while electronic signature platform Docusign is adding World’s ID verification tech to digital agreements, World said on Friday. Dating app Tinder is also expanding its World ID verification to US users.

“As AI agents increasingly act on behalf of real people, the infrastructure to prove a human stands behind each agent becomes critical,” World said.

No more deepfakes on video calls. @worldnetwork identify verification on @Zoom. pic.twitter.com/0ap0IOKR6H

— World (@worldnetwork) April 17, 2026

Alongside the surge in AI-generated content, deepfake technology has been used in increasingly sophisticated impersonation scams, helping fraudsters evade standard ID checks and deceive victims into handing over funds or sensitive data.

While biometric verification has been touted as a solution, critics warn that collecting data at scale raises privacy risks, particularly if controlled by a single company, and could lead to excessive surveillance if misused.

Worldcoin’s (WLD) double-digit fall to $0.28 came as the broader crypto market rose 2.2% on news of the US and Iran easing tensions and opening up the Strait of Hormuz on Friday.

WLD is the native cryptocurrency token of the World Network, used to reward users for verifying their unique identity and to enable transactions and participation within its ecosystem.

WLD’s change in price over the last 24 hours. Source: CoinGecko

World’s ID technology is mostly based on its Orb device, which scans a user’s iris to generate a unique digital identity used to verify they are human without revealing personal data.

World has introduced an account-based system with features like key recovery and multi-device support for its proof of human stack, aimed at making verification more secure and portable.

Coinbase recently partnered with World to verify AI agents

Other recent World integrations include Amazon Web Services, Shopify, Browserbase, Exa, VanEck and Coinbase.

Coinbase announced that it would use World’s AgentKit, a developer toolkit that allows AI agents to prove they are linked to a verified, for its x402 AI agents micropayments protocol in March.

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Russia’s government submitted a bill to its parliament’s lower house in an effort to amend the country's legal code to attach criminal liability for crypto services offered without regulatory approval or licensing.

In a draft law sent to the State Duma on Friday, Russian lawmakers proposed that entities "carrying out activities related to the organization of digital currency circulation,” that operate without a license from Russia’s central bank, could be subject to criminal liability.

Without registration with the Bank of Russia, individuals could face up to $4,000 in fines and up to four years in prison, or more severe penalties if part of an organized group.

“The same act committed by an organized group, or involving the infliction of damage or the extraction of income on a particularly large scale, would be punishable by compulsory labor for up to five years or imprisonment for up to seven years,” the bill’s text said.

The bill also proposes a “fine of up to 1 million rubles [$13,100] or an amount equal to the convicted person’s salary or other income for a period of up to five years.”

The draft law followed a package of bills initially proposed in March that included criminal penalties for illegal crypto miners, but the most recent legislation included details on fines and potential prison time for any unregistered digital asset services.

According to Russian media outlet RBC, the country’s Supreme Court said that the crypto bill lacks “reasoned justification” for criminal penalties.

The court said that the measure was “premature” until Russia enacted its “Digital Currency and Digital Rights law,” expected to go into effect in July. If the bill passes it would give Russia’s government more control and oversight over the crypto industry.

Russian crypto exchange Grinex still reeling from $14 million hack

Grinex, a Russia-based crypto exchange currently being sanctioned, halted trading for users on Thursday after losing more than 1 billion rubles — about $13.7 million — in a hack it suspected was carried out by “entities of hostile states.”

The company said it forwarded relevant information on the attack to law enforcement agencies and filed a criminal complaint.

Magazine: Will the CLARITY Act be good — or bad — for DeFi?

Polymarket prediction market odds of the Strait of Hormuz “returning to normal” by the end of May spiked to 73% on Friday, following news that Iranian officials have temporarily opened up the Strait of Hormuz as part of a ceasefire deal.

The odds climbed to a high of 82% on Friday, after Iranian Foreign Minister Seyed Abbas Araghchi announced that the Strait of Hormuz is open. Since that time, the odds have fallen back down to 73%. He said in an X post:

“The passage for all commercial vessels through the Strait of Hormuz is declared completely open for the remaining period of the ceasefire, on the coordinated route as already announced by the Ports and Maritime Organization of the Islamic Republic of Iran.”

Polymarket odds for oil tanker traffic through the Strait of Hormuz returning to normal by the end of May 2026. Source: Polymarket

However, traders on the platform placed the odds of the Strait returning to normal activity by the end of April at just 40%.

The war in Iran sent shockwaves through financial markets, impacting crypto and energy prices, as investors and financial analysts react to political developments in the ongoing conflict. 

Bitcoin rises on the ceasefire news, but the truce is “fragile”

The price of Bitcoin (BTC) surged on Friday in response to the temporary reopening of the Strait under the ceasefire, briefly tapping $78,000 before climbing down to about $77,358, the price at the time of publication.

The price of Bitcoin surged after Iranian officials announced that the Strait of Hormuz would remain open during the ceasefire. Source: TradingView

Crypto market analyst Nic Puckrin told Cointelegraph that the ceasefire between the US and Iran announced in April is “fragile” and that core issues remain unresolved.

The fallout from the conflict will likely cast a shadow over financial markets for most of 2026, pushing back any interest rate cuts to Q3 2026 at the earliest, if rate cuts materialize at all this year, Puckrin said.

“A ceasefire that results in the end of geopolitical tensions, a sustained drop in oil prices toward $80, and ideally also softer-than-expected economic data that calms stagflation fears” are all needed for BTC to reclaim the $90,000 level, he said.

US President Donald Trump said on Friday that the US naval blockade on Iran would “remain in full force and effect” until the “transaction with Iran is 100% complete.”

Magazine: Should users be allowed to bet on war and death in prediction markets?

Connecticut Senator Richard Blumenthal questioned US authorities responsible for overseeing Binance about whether the company is complying with anti-money laundering laws and sanctions under its 2023 court-imposed monitoring program.

According to a report published by Fortune on Friday, Blumenthal sent letters to the Justice Department and the US Treasury’s Financial Crimes Enforcement Network (FinCEN), asking for details on Binance’s compliance. 

Binance and its former CEO Changpeng “CZ” Zhao reached a deal in 2023, in which the exchange would pay $4.3 billion to settle civil regulatory enforcement actions, and CZ would plead guilty to one felony charge.

The deal also required that Binance be subject to monitoring and reporting requirements by US officials.

Blumenthal’s letter said he was concerned about “mounting allegations of dangerously lax anti-money laundering prevention by Binance.” Fortune reported that DOJ and FinCEN officials responsible for overseeing the exchange as part of the deal would not comment.

The letter followed reports that Binance was under scrutiny regarding US sanctions imposed on Iran.

The crypto exchange reportedly fired individuals responsible for telling Binance executives that $1 billion flowed through the platform to entities tied to Iran. A spokesperson for the exchange has denied the claims.

In February, a group of senators urged Treasury Secretary Scott Bessent and former Attorney General Pamela Bondi, who was fired by US President Donald Trump in April, to complete a “prompt, comprehensive review” of Binance’s compliance controls.

The letter sent by US Senator Chris Van Hollen and 10 other lawmakers in February demanding a compliance review of Binance. Source: Senator Chris Van Hollen

Trump-Binance ties are still under scrutiny

Some US lawmakers have alleged that connections between Binance and Trump create conflicts of interest for the US President and his family’s crypto businesses.

In March 2025, a United Arab Emirates-based entity purchased a $2 billion stake in Binance using the USD1 stablecoin issued by World Liberty Financial, the company co-founded by Trump and his sons.

Trump also pardoned Binance’s former CEO, CZ, in October 2025 after he served four months in prison as part of his 2023 guilty plea.

Magazine: Will the CLARITY Act be good — or bad — for DeFi?

Ether’s (ETH) rally to $2,400 is nearly 38% above its swing low at $1,750, but is ETH’s price move simply a momentum trade, or do longer-term data points suggest a paradigm shift at play?

ETH accumulation addresses absorb 6.5 million Ether

Ether’s recent rally was preceded by an 89% surge in daily active addresses (DAA), which jumped to 730,278 from 384,763 on April 5.

The increase in Ethereum’s active addresses indicates increased user interaction with the network, which is generally a positive.

The chart below shows that activity increased significantly as Ether price rose to $2,300. 

Ethereum daily active addresses. Source: CryptoQuant

Similar activity has been consistently observed near macro bottoms since 2022, preceding significant ETH price rallies.

Daily inflows into accumulation addresses have also increased since mid-2025, reaching an all-time high of 1.14 million ETH in November 2025. The inflows have continued to climb in 2026, averaging 200,000 ETH per day, with a spike to over 358,000 on Thursday.

The amount of ETH held in accumulation wallets, or holders with no history of selling, has increased by 6.5 million to 26.16 million from 19.64 million on Jan. 1, representing a 33% increase.

The ETH supply held in accumulation addresses is a key indicator for traders and market participants, as it reflects overall confidence in Ether’s long-term outlook.

ETH inflows into and balance in accumulation addresses. Source: CryptoQuant

The total value of ETH staked further reinforces this outlook. The metric now stands at 39.2 million ETH, signaling growing investor confidence.

Staked ETH supply. Source: Dune

As Cointelegraph reported, Ether supply held on exchanges has fallen to multi-year lows, further tightening liquidity on order books. 

Ether cup-and-handle chart breakout targets $3,150

The ETH/USD pair may resume its prevailing bullish trend after breaking out of a cup-and-handle (C&H) chart pattern, as shown in the chart below. A 12-hour candlestick close above the cup’s neckline at $2,400 may signal the start of a stronger uptrend.

The target is set by adding the cup’s depth to the breakout point, which comes to around $2,960, an approximately 22% increase from the current price.

ETH/USD 12-hour chart. Source: Cointelegraph/TradingView

The relative strength index has risen to 68, suggesting that ETH bulls are back in control. 

Trader TheSkayeth spotted a larger C&H pattern forming over the last two months on the daily time frame, saying ETH was “setting up for a massive move.”

“If the cup and handle pattern continues, I think we get to the golden zone next.”

ETH/USD daily chart. Source: X/TheSkayeth

The measured target of this larger formation is $3,150, which is 30% above the current level.

Applying this framework, ETH bulls will need to hold above the $2,350-$2,400 zone to confirm a sustained upward breakout.

As Cointelegraph reported, a close above the $2,400 level would increase the prospects of the ETH/USDT pair rising to $2,800 and later to $3,050.

Bitcoin (BTC) rallied above $78,000 to hit another 10-week high on Friday as crypto and equity markets reacted to cooling tensions in the US and Israel war in Iran. The rally above range highs also resulted in a large liquidation of leveraged Bitcoin positions.

BTC/USD one-hour chart. Source: Cointelegraph/TradingView

More than $660 million in short positions were liquidated, with Bitcoin accounting for $353 million of that total. Ether (ETH) followed with $160 million in short liquidations.

Across the board, $826 million was wiped from the futures market over the last 24 hours.

Crypto market liquidations. Source: CoinGlass

The single biggest liquidation occurred on Hyperliquid, where a $15.75 million BTC-USDT short position was closed.

Large clusters of short liquidations typically amplify the reach of asset rallies and data from CoinGlass showed a 13% rise in Bitcoin’s aggregate futures open interest (OI) over the last 24 hours.

Total Bitcoin open interest. Source: CoinGlass

Even though futures longs (buyers) and shorts (sellers) are always matched, rising OI suggests greater leverage and market participation, which, in this case, appears to be on the side of bulls.

Hyblock data showed ask liquidity sitting between $77,500 and $78,000 being absorbed as BTC rallied to its intra-day highs on Friday.

BTC net short positions. Source: Hyblock

Bitcoin MACD forecasts a “big move“

Bitcoin’s moving average convergence divergence (MACD) indicator has signaled a buy on its weekly chart, a pattern that has historically preceded sharp price rallies.

The MACD is a popular momentum indicator used in technical analysis that helps traders identify the strength, direction and duration of a trend of an asset’s price.

The indicator reached its lowest level in history and has formed a bullish cross on the weekly chart, as shown in the figure below.

“Not only do we have a 1W MACD bullish cross and break of trend, we have it from the lowest point the MACD has ever dropped to,” analyst Sykodelic said in a recent post on X, adding:

“We are at a very important level here, and the weekly close will be very important.“

Previous instances show that Bitcoin tends to rise sharply when the MACD line (blue) crosses above the signal line (orange). The last time this happened was at the bottom of the 2022 bear market, which preceded a 376% increase in BTC price.

BTC/USD weekly chart. Source: Cointelegraph/TradingView

“A big move usually follows whenever this weekly MACD bullish cross happens,” analyst Mikybull Crypto said in a recent post on X.

Fellow analyst The Chart Report told their followers that previous crossovers have “historically produced a 93% win rate with a median 12-month return of +195%.”

BTC price performance after weekly MACD crossovers. Source: X/The Chart Report

Other Bitcoin analysts suggest that the altcoin could continue its recovery to retest higher resistance levels, with BTC price targets set at $90,000 and above. 

Payward, the parent company of the Kraken cryptocurrency exchange, announced on Friday that it has entered into a “definitive agreement” to acquire Bitnomial, a US-licensed cryptocurrency and derivatives exchange; the deal values Bitnomial’s equity at $20 billion.

Bitnomial is the “first” crypto-native exchange in the United States to hold all three regulatory licenses from the Commodity Futures Trading Commission (CFTC), including exchange, clearinghouse, and brokerage permits, according to Payward’s announcement.

“Settlement mechanics, margin models, and contract structures define what products can exist and who can access them. The US has had no clearing infrastructure built for digital assets,” Arjun Sethi, Co-CEO of Payward and Kraken, said. He added:

“Bitnomial spent a decade building it: crypto settlement, crypto collateral, continuous 24/7 markets. These are capabilities that cannot be retrofitted onto legacy systems. They have to be built natively.” 

Payward will use Bitnomial’s infrastructure to offer spot margin trading, perpetual futures contracts and options trading for US clients, the company said. 

Source: Kraken

Payward’s business clients can also integrate crypto services for their users, including spot crypto trading, tokenized stocks, crypto derivatives and fiat onramps through Payward Services, an application programming interface (API). 

The announcement follows Kraken’s expansion into tokenized stocks, tokenized perpetual futures trading and the company securing a limited-purpose account with the United States Federal Reserve, a first for the crypto industry.

Kraken secures Federal Reserve limited-purpose master account

In March 2026, Kraken became the first crypto company to gain approval for a limited-purpose master account, which was issued by the Federal Reserve Bank of Kansas City, one of the US central bank’s 12 regional districts.

The account gives Kraken access to the Federal Reserve’s central payment system used by banks, credit unions and other traditional financial institutions, so it can settle transactions directly through the Fed’s Fedwire platform.

However, the limited-purpose master account has a term of one year and features some restrictions. 

Source: Senator Cynthia Lummis

Kraken’s limited-purpose account is similar to the ‘skinny’ Federal Reserve master accounts proposed by Federal Reserve Governor Christopher Waller and promoted by Wyoming Senator Cynthia Lummis in 2025.

Magazine: Robinhood’s tokenized stocks have stirred up a legal hornet’s nest

Key points:

Bitcoin soared above $76,000, opening the doors for a further rally toward $84,000.

Several major altcoins are showing strength, signaling broad-based buying by the bulls.

Bitcoin (BTC) skyrocketed above the $76,000 resistance on Friday after Iran’s foreign minister said that the Strait of Hormuz will remain open for the remainder of the ceasefire between the US, Israel and Iran.

Another positive sign for the bulls is that BTC’s rise has been supported by solid accumulation by the whales. According to CryptoQuant data, BTC whales holding more than 1,000 BTC have added about 270,000 coins in the past 30 days, the largest buying spree since 2013.

However, some analysts remain skeptical about BTC’s advance. Glassnode said in its latest Week Onchain newsletter that the current recovery has more legs to it, but is likely to face selling pressure at the True Market Mean at $78,100. Buyers will have to sustain the price above $78,100 on a mid-term basis to create a “structural shift toward a bull market.”

Crypto market data daily view. Source: TradingView

Another cautious view came from trading resource Material Indicators. In a video posted on X, Material Indicators said that BTC will have to cross the yearly open at $87,500 and the 50-week moving average near $97,000, and the relative strength index has to close above the 41 level on the weekly time frame to confirm that a bull market has returned.

Could BTC and select major altcoins sustain above their overhead resistance levels? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

Bitcoin price prediction

BTC surged above the $78,000 level on Friday, its highest level in ten weeks, indicating sustained buying by the bulls. 

BTC/USDT daily chart. Source: Cointelegraph/TradingView

The upsloping 20-day exponential moving average ($72,136) and the RSI near the overbought zone indicate that the bulls are attempting to seize control. A close above the $76,000 level will complete a bullish ascending triangle pattern, opening the door to a rally to $84,000, then to the pattern target of $92,000.

The moving averages are critical support levels to watch on the downside, as a close below them suggests the bears remain in control. The BTC/USDT pair may then tumble toward the triangle's support line. 

Ether price prediction

Sellers attempted to halt the recovery at the $2,415 level in Ether (ETH), but the bulls continued to exert pressure and did not allow the price to dip below the 20-day EMA ($2,235).

ETH/USDT daily chart. Source: Cointelegraph/TradingView

If the ETH price closes above the $2,415 resistance level, the recovery may extend to $2,800, then to $3,050. Such a move suggests that the ETH/USDT pair may have bottomed out at $1,748.

This bullish view will be invalidated in the near term if the price turns down sharply and breaks below the moving averages. That suggests the break above the $2,415 level may have been a bull trap. The pair may then decline to the $1,916 level.

XRP price prediction

XRP (XRP) closed above the 50-day simple moving average ($1.38) on Wednesday, indicating that the bears are losing their grip.

XRP/USDT daily chart. Source: Cointelegraph/TradingView

The 20-day EMA ($1.37) has started to turn up gradually, and the RSI is in the positive territory, indicating an advantage to the bulls. The XRP price may rally to the downtrend line of the descending channel pattern, which is expected to behave as a formidable hurdle. If buyers clear the hurdle, the XRP/USDT pair will indicate a potential trend change.

The moving averages are the vital support to watch out for on the downside. If the support breaks down, the pair may retest the crucial $1.27 level.

BNB price prediction

BNB (BNB) closed above the 50-day SMA ($626) on Thursday, indicating that the selling pressure is reducing. 

BNB/USDT daily chart. Source: Cointelegraph/TradingView

If the BNB price remains above the moving averages, the next stop is likely to be the $687 level. Sellers will try to halt the recovery at $687, but if buyers bulldoze their way through, the rally may reach $730 and eventually $790.

On the contrary, if the price turns down from the current level or the overhead resistance and breaks below the moving averages, it signals that the BNB/USDT pair may remain within the $570 to $687 range for a while longer.

Solana price prediction

Solana’s (SOL) close above the moving averages suggests that the bulls are attempting to push the price to the $98 resistance.

SOL/USDT daily chart. Source: Cointelegraph/TradingView

Sellers are expected to fiercely defend the $98 level. If the SOL/USDT pair turns down sharply from $98 and breaks below the moving averages, it signals that the consolidation may extend for a few more days.

The first sign of strength on the upside will be a break and close above the $98 resistance. That opens the doors for a rally to the $117 level, where the bears are again expected to step in.

Dogecoin price prediction

Dogecoin (DOGE) turned up from the moving averages on Wednesday and rallied to the $0.10 level on Thursday.

DOGE/USDT daily chart. Source: Cointelegraph/TradingView

Sellers will strive to halt the recovery at the $0.10 level, but if buyers do not give up much ground from the current level, it increases the possibility of a rally to $0.11 and subsequently to $0.12.

The bears are likely to have other plans. They will attempt to pull the DOGE price back below the moving averages. If they succeed, the DOGE/USDT pair may plummet to the solid support at $0.09. 

Hyperliquid price prediction

Sellers are attempting to pull Hyperliquid (HYPE) back below the breakout level of $43.76, but the bulls have held their ground.

HYPE/USDT daily chart. Source: Cointelegraph/TradingView

If the HYPE price continues higher and breaks above the $46 level, it suggests that the bulls have flipped the $43.76 level into support. That increases the likelihood of a rally to the $50 to $51.43 zone.

Time is running out for the bears. They will have to pull the HYPE/USDT pair below the 20-day EMA ($40.78) to make a comeback. If they manage to do that, the pair may slump to the 50-day SMA ($37.38). 

Cardano price prediction

Cardano (ADA) continued its recovery and is likely to test the resistance at the downtrend line of the descending channel pattern.

ADA/USDT daily chart. Source: Cointelegraph/TradingView

Sellers are expected to aggressively defend the downtrend line, but if the bulls prevail, the ADA/USDT pair may climb to $0.32, then to $0.37. Such a move signals a potential short-term trend change.

On the contrary, if the ADA price turns down from the downtrend line and breaks below the moving averages, it suggests the pair may remain within the channel for some time. 

Bitcoin Cash price prediction

Bitcoin Cash (BCH) pierced the 20-day EMA ($447) on Thursday, but the relief rally is facing selling at the 50-day SMA ($454).

BCH/USDT daily chart. Source: Cointelegraph/TradingView

The 20-day EMA is flattening out, and the RSI is near the midpoint, suggesting that the selling pressure is reducing. If bulls prevent the BCH price from dipping below $443, it could signal a shift in sentiment. That increases the likelihood of a break above the 50-day SMA. If that happens, the BCH/USDT pair may surge to $486, then to $520.

Alternatively, if the price breaks below $443, it signals that the bears remain sellers on rallies. The pair may then plunge toward the solid support at $419.

Chainlink price prediction

Chainlink (LINK) is attempting to break above the $8 to $10 resistance, where bears are expected to mount a strong defense.

LINK/USDT daily chart. Source: Cointelegraph/TradingView

If the price turns down from the overhead resistance and breaks below the moving averages, it suggests that the LINK/USDT pair may consolidate inside the range for a few more days.

On the other hand, if the LINK price closes above the $10 level, it indicates that the consolidation has resolved in favor of the bulls. The pair may then rally to the $11.61 level, where the bears are expected to step in. There is resistance at $10.94, but it is likely to be crossed.

Singapore Gulf Bank (SGB) has introduced a service that lets institutional clients mint and redeem stablecoins directly from their bank accounts, using the Solana layer-1 blockchain network to enable round-the-clock settlement between fiat and digital assets.

The service will initially support Circle USDC (USDC) transactions above $100,000 and includes temporary fee waivers for minting and redemption on the Solana network, according to SGB’s announcement.

Additional assets such as Tether’s USDT (USDT), Ethena’s USDe (USDe) and Global Dollar (USDG) are expected to follow, the company said.

The new feature is integrated into the bank’s internal clearing system, allowing funds to move between onchain and traditional balances without relying on intermediary banking networks, SGB said.

The launch comes as payment networks, regulators and banks around the world move to integrate stablecoin settlement and blockchain infrastructure into the traditional financial system to reduce costs and settlement times.

Banks, payment networks and regulators push stablecoin integration

In March, Mastercard agreed to acquire stablecoin infrastructure company BVNK in a deal valued at up to $1.8 billion.

Jorn Lambert, Mastercard’s chief product officer, said “most financial institutions and fintechs” are moving toward services built around stablecoins and tokenized deposits.

Separately, Visa began operating validator nodes on the Tempo network on Tuesday. Validators on the network can earn stablecoin-based rewards for processing transactions.

A Visa spokesperson told Cointelegraph the company is focused on the technical and strategic aspects of operating a validator, rather than generating revenue.

Regulatory frameworks around the world are also beginning to catch up. In April, Pakistan’s central bank allowed banks to serve licensed crypto firms, ending years of legal restrictions.

Earlier this year, the country signed an exploratory agreement to assess World Liberty Financial’s USD1 (USD1) stablecoin and its potential use for cross-border payments.

Meanwhile in Europe, where euro-denominated stablecoins still lag far behind dollar-backed tokens, a consortium of banks including ING, UniCredit and BBVA is developing a euro-pegged stablecoin.

The total stablecoin market cap. Source: DefiLlama

The banks plan to distribute the stablecoin across crypto exchanges and banking channels, with a launch targeted for the second half of 2026.

The moves come as the stablecoin market cap, which exceeds $320 billion at the time of publication, according to data from DeFiLlama, continues to grow.

Magazine: Will the CLARITY Act be good — or bad — for DeFi?

Roland Lescure, France’s finance minister, backed an initiative by European banks to launch a euro-pegged stablecoin in 2026 to compete with US dollar-backed tokens, which currently dominate the market.

According to a Friday Reuters report, Lescure supported the euro-pegged Qivalis stablecoin plan launched in September 2025 by EU banks, including Dutch lender ING and Italy’s UniCredit.

The goal of the banks was to create a stablecoin in compliance with the EU’s Markets in Crypto Assets (MiCA) regulatory framework; the MiCA-compliant euro stablecoin is expected to be launched in the second half of 2026.

“That is ‌what ⁠we need, and that is what we want,” said Lescure, according to Reuters. “I also strongly encourage banks to further explore the launch of tokenized deposits.”

EU banks are collaborating to create an alternative to the US-dominated stablecoin market, led by Tether’s USDt (USDT) and Circle’s USDC (USDC). As of Friday, USDT had a market capitalization of about $186 billion, according to CoinMarketCap.

Lescure, who reportedly made the comments in a pre-recorded message, said the relatively small volume of euro-pegged stablecoins compared to dollar-pegged ​ones was “not satisfactory.”

Speaking at the World Economic Forum in January, Banque de France Governor François Villeroy de Galhau said that tokenization and stablecoins were likely to be “the name of the game” in 2026, highlighting benefits of blockchain infrastructure for finance.

However, he opposed interest-bearing stablecoins, claiming that they could destabilize financial systems, a criticism shared by several EU and US policy makers, as well as central bank officials, as stablecoin yield continues to be a contentious regulatory topic.

Stablecoin yield is still an issue in US market structure talks

As of Friday, lawmakers in the US Senate had not announced any compromise that would allow a crypto market structure bill to move closer to a vote.

The CLARITY Act, a crypto market structure bill that passed in the US House of Representatives in July, has been stalled amid disagreements on how to address stablecoin yield, tokenized equities, ethics and other concerns.

Magazine: Will the CLARITY Act be good — or bad — for DeFi?