Key Takeaways

• MaxLinear shares skyrocketed approximately 80% to $61.52 during Friday’s trading session
• First quarter adjusted earnings per share of $0.22 exceeded Wall Street’s $0.18 projection
• Quarterly revenue of $137.2 million marked a 43% increase from the prior year period
• Infrastructure division revenue jumped 136% year-over-year, becoming the dominant business segment
• Second quarter revenue forecast of $160M–$170M significantly surpassed analyst expectations of $137.1M

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MaxLinear experienced an extraordinary trading session on Friday that few semiconductor companies ever witness. Shares rocketed approximately 80% higher to close at $61.52, marking what appears to be the company’s most significant one-day percentage increase on record and representing its strongest closing price since 2022.

MaxLinear, Inc., MXL

The explosive rally was triggered by first quarter financial results that exceeded analyst projections on every major metric. The company posted adjusted earnings of $0.22 per share, comfortably surpassing the Street’s $0.18 estimate. Total revenue climbed to $137.2 million, representing a robust 43% jump compared to the year-ago quarter.

However, the metric that truly captured investor enthusiasm was the infrastructure division’s explosive 136% year-over-year revenue expansion. This segment, primarily fueled by optical data-center platform sales, has now emerged as MaxLinear’s dominant revenue contributor — surpassing the broadband business for the first time in company history.

During Thursday’s earnings conference call, CEO Kishore Seendripu highlighted that the company’s Keystone optical transceiver platform is “ramping at multiple major high-scale customers across both the U.S. and Asia.”

Forward Outlook Crushes Consensus

Looking ahead to the second quarter, MaxLinear issued revenue guidance ranging from $160 million to $170 million. This projection substantially exceeds the $137.1 million consensus estimate that analysts had been modeling. Additionally, management boosted its full-year 2026 optical data-center revenue projection by $40 million, now anticipating between $150 million and $170 million for the year.

Needham analyst N. Quinn Bolton suggested that the company’s infrastructure transformation will likely justify premium valuation multiples. “We expect this gap to widen over the next few years on robust data center demand,” Bolton noted in a research report.

Needham elevated its rating on MXL to Buy while establishing a $60 price objective, calculated using 25 times the firm’s 2028 non-GAAP earnings estimate of $2.35 per share. Susquehanna increased its target price to $45 from $30, though maintained its Neutral stance. Stifel confirmed its Buy recommendation while raising its target from $34 to $49.

Susquehanna’s Christopher Rolland characterized the quarterly update as “the constructive update that many had been hoping for.”

Current Market Position

Friday’s dramatic surge propels MXL to gains of roughly 250% year-to-date and approximately 500% over the trailing twelve-month period. The stock is now hovering close to its 52-week peak.

Based on current market pricing, MXL is valued at roughly 43.6 times forward twelve-month earnings projections. While this represents double the valuation multiple from twelve months earlier, it remains below larger industry competitors such as Lumentum and Ciena.

According to InvestingPro analytics, ten Wall Street analysts have recently increased their earnings forecasts for upcoming reporting periods. The current consensus projects fiscal 2026 earnings of $0.91 per share — representing a dramatic reversal from the $1.58 per share loss recorded over the previous twelve months.

Stifel observed that first quarter revenue exceeded its internal forecast by 1.6%, reinforcing the firm’s confidence in maintaining its Buy recommendation.

BridgeTower Capital has officially adopted Chainlink’s full infrastructure stack to tokenize $11 billion in securities from the DOM X Arizona Copper-Gold Project, making it one of the largest live production tokenized asset deployments ever announced and positioning Chainlink as the core operational layer for a pipeline BridgeTower says exceeds $25 billion in natural resources, energy, and metals.

BridgeTower Capital announced on April 23 the adoption of Chainlink’s full infrastructure stack to tokenize securities tied to the DOM X Arizona Copper-Gold Project, a US natural resource initiative valued at $11 billion. The deployment is live production infrastructure rather than a trial, making it one of the largest single-asset tokenization builds ever brought to institutional scale. BridgeTower is also working toward tokenizing a pipeline exceeding $25 billion in natural resources, energy, and metals through the same platform.

Chainlink BridgeTower Tokenization Deploys the Full CCIP and Oracle Stack

The technical architecture BridgeTower has built around Chainlink uses four distinct components. Chainlink’s Cross-Chain Interoperability Protocol handles connectivity to regulated DeFi venues and licensed secondary markets. The Proof of Reserve system provides on-chain verification of underlying asset backing. NAVLink supplies real-time valuation data on-chain. The Chainlink Runtime Environment coordinates reserve checks, compliance steps, and settlement automation, keeping the full tokenization lifecycle inside a single operating environment. Investor subscriptions are funded through fiat and stablecoin rails powered by Iron, a MoonPay company. KYC, KYB, and AML controls are embedded at the protocol level. “All the world’s largest financial institutions are watching tokenization right now, and they are looking for production evidence for powering assets at institutional scale. This is what it looks like when tokenized assets become core institutional infrastructure,” said Johann Eid, Chief Business Officer at Chainlink Labs. As crypto.news reported, the tokenized real-world asset sector had already reached $27 billion in 2026, with Chainlink positioned as the primary oracle infrastructure across the growing institutional pipeline.

Why Live Production Matters More Than Pilot Announcements

The distinction between a pilot and live production infrastructure matters significantly for institutional buyers evaluating blockchain tokenization. As crypto.news documented, CCIP has been averaging approximately $90 million in weekly token transfers, and the network has enabled over $28 trillion in cumulative transaction value, providing the operational track record that compliance and legal teams at banks and asset managers require before approving vendor relationships. BridgeTower CEO Cory Pugh said the deployment “marks a major step forward in how tokenized asset markets reach institutional scale,” specifically highlighting the move from early integrations to live production infrastructure within a matter of months as the critical evidence major financial institutions need to proceed with their own tokenization programs. The BridgeTower deployment also includes privacy-preserving workflow development for institutional primary issuance, keeping ownership positions and participant data confidential while preserving compliance and on-chain verifiability.

What the Deal Adds to Chainlink’s Institutional Footprint

The BridgeTower announcement arrives three days after the Deloitte SOC 2 Type 2 certification and one week after the launch of Chainlink’s 24/5 US equity data streams across more than 40 blockchains. As crypto.news tracked, tokenized commodities and equities had climbed past $7 billion in value earlier in April, with gold-backed tokens leading a surge that institutional commentators describe as the transition from pilot projects to live collateral on public blockchains. The BridgeTower deal adds $11 billion in natural resource-backed securities to that infrastructure footprint, extending Chainlink’s institutional reach from financial assets like equities and treasuries into the physical commodities sector. LINK was trading at approximately $9.31 on April 23 as the announcement landed, consolidating below the $9.50 resistance level that analysts have identified as the near-term trigger for a potential directional move.

BridgeTower has stated it plans to expand the Chainlink-powered platform beyond the DOM X project to include the full $25-plus billion pipeline of natural resources, energy, and metals assets it has under management.

Aave’s decentralized governance body is being asked to contribute 25,000 ETH from its treasury to a coordinated recovery effort following the April 18 exploit of Kelp DAO’s rsETH bridge, according to a proposal published Thursday by Aave service provider TokenLogic.

The contribution would make Aave the largest single donor to a coalition called “DeFi United,” which also includes EtherFi, Lido, Ethena, Mantle, Ink Foundation, BGD Labs, and several individual contributors. Together, the group is working to restore the full backing of rsETH and protect users across affected Aave V3 markets.

The April 18 attack drained 152,577 rsETH from Kelp’s LayerZero bridge adapter, creating an original shortfall of approximately 163,183 ETH. Subsequent recoveries have reduced that figure: Kelp froze tokens worth roughly 43,168 ETH, the Arbitrum Security Council froze 30,766 ETH held by the attacker, and liquidations of the hacker’s positions on Aave and Compound are expected to recover an additional 14,168 ETH. The residual funding gap currently stands at approximately 75,081 ETH.

To close that gap, the proposal outlines a funding stack combining public donations totaling 14,570 ETH, a 30,000 ETH credit facility from Mantle, and the requested 25,000 ETH from the Aave DAO treasury.

Executing the recovery requires placing the full 120,015 ETH into the LayerZero lockbox upfront. Because several recovery streams are not yet liquid, short-term bridge loans are being arranged separately to cover the timing gap.

The proposal also authorizes Aave Labs to pledge DAO assets and future protocol revenue as collateral to secure funding arrangements. The proposal notes the plan depends on external actions including Kelp reopening withdrawals, LayerZero reopening its bridge, and the Arbitrum Security Council releasing frozen funds.

The proposal is currently in the community feedback stage before proceeding to a Snapshot vote.

Sources: Aave Governance | Aave Twitter | DeFi United

This article was generated automatically by The Defiant’s AI news system from publicly available sources.

The Fellowship political action committee (PAC), which launched claiming to have more than $100 million from crypto-aligned backers, has reportedly backed out of an advertising deal to support Texas Attorney General Ken Paxton in a crucial US Senate race.

According to a Thursday report from Axios, Republican leaders contacted US Commerce Secretary Howard Lutnick on his connections to Fellowship, which has been partially funded by Cantor Fitzgerald.

Lutnick, as the former president and CEO and whose sons are now in charge of the financial services company, reportedly faced questioning from Republicans about Fellowship’s support of Paxton, whom on Tuesday the PAC reported spending $1.75 million in supportive advertising.

Fellowship PAC expenditure report on Ken Paxton. Source: FEC

The advertising expenditure, which Fellowship disclosed to the Federal Election Commission (FEC) through the marketing company Nxum Group, was reportedly never placed. As of Friday, the FEC filing showing the $1.75 million expenditure was still public. Cointelegraph reached out to Fellowship for comment but did not receive an immediate response.

A crypto-backed PAC like Fellowship backing out of support for a candidate in a US Senate race, possibly in response to pressure from Republican leaders, is somewhat unusual. Political action committees tied to digital assets support candidates on both sides of the aisle who they consider pro-crypto.

Along with Fellowship, PACs like Fairshake and others are expected to spend a combined hundreds of millions of dollars in the US midterm elections after pouring money into ads for 2024 candidates to influence voters. 

Related: White House confirms Trump to address memecoin gala on Saturday

Paxton, who failed to win outright in a March primary against Senator John Cornyn, will face the Republican incumbent in a May 26 runoff before the November general election. Whichever Republican wins a majority of the vote will likely face off against Democrat James Talarico in a race for one of Texas’ US Senate seats.

Crypto entities calling for action on market structure bill in Senate

Republicans have held a slim majority in the US Senate since January 2025, leading to the passage of the stablecoin bill, the GENIUS Act, and the consideration of other pieces of crypto legislation. However, if Democrats gain majority control of the chamber in the 2026 midterm elections, it could change how the Senate approaches crypto laws.

Since July 2025, the Senate has been considering a bill on crypto market structure, expected to be one of the most comprehensive pieces of legislation affecting the industry. Delays, in part due to government shutdowns, ethics concerns and questions about stablecoin yield, have persisted for months, with no vote on the bill scheduled in the full chamber.

On Thursday, more than 120 entities affiliated with the cryptocurrency and blockchain industry urged Senate Banking Committee leaders to stop stalling on advancing the market structure bill, the CLARITY Act. The committee will need to hold a markup on the bill before the Senate can potentially schedule a vote.

Magazine: AI-driven hacks could kill DeFi — unless projects act now

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Bitcoin remained anchored around the $78,000 level on Friday as markets awaited fresh geopolitical and macro cues amid heightened U.S.-Iran tensions. The absence of a decisive catalyst kept risk assets in a cautious, sideways drift, even as oil and equities wobbled in response to the evolving backdrop.

With U.S. equities treading water and oil oscillating near the high $90s to mid-$95 per barrel area, traders said the market’s next move hinges on clarity over the Middle East conflict and its potential spillovers into energy prices and economic growth. The lack of a clear triggers pushed Bitcoin into a consolidative phase, slowing any attempt to reclaim the $80,000 ceiling that has been a looming target for months.

“Market is eagerly awaiting clarity from the conflict in the Middle East. The longer it drags on and oil keeps moving higher, the more pressure will be put on these assets.”

— Daan Crypto Trades, via social commentary on market dynamics

Key takeaways

• Bitcoin trades near $78,000, struggling to push back above $80,000 as U.S. stocks drift and oil prices stay firm.
• Oil’s resilience and geopolitics loom as near-term risk catalysts, with traders watching how energy moves influence risk appetite.
• Earnings season is viewed as a potential driver for the next leg higher in equities, which could spill over into crypto.
• Analysts warn of vulnerability around nearby bid liquidity and the possibility of a deeper retracement if macro cues worsen.

Markets pause as BTC hangs near a pivotal level

TradingView data reflect a quiet price action for BTC as the week closes, with the benchmark hovering around the $78,000 area. The lack of a clear directional impulse kept Bitcoin anchored, even as macro components painted a mixed picture: U.S. equities paused after a period of strength, while crude futures retraced from earlier peaks but stayed elevated relative to late-year lows.

In social-dial commentary, traders highlighted the delicate balance between growth optimism and geopolitical risk. The absence of new cues from the Iran-related developments left risk-on assets in a state of limbo, characterized by tight ranges and cautious positioning.

Meanwhile, the broader commodity complex showed oil trading in a high-range channel, with volatility linked to supply expectations and geopolitical risk. The energy-price backdrop remains a key variable for the trajectory of risk assets, including BTC.

Analysts and traders weigh the next move

As Bitcoin clings to critical support, several traders flagged potential headwinds for a sustained upside move. One market observer noted that the immediate price structure suggests the possibility of a deeper retracement if the current macro environment persists without a clear catalyst.

In the meantime, analysts emphasized the role of earnings season in shaping risk appetite. Mosaic Asset Company argued that positive earnings momentum would be essential to sustain any upside for equities, noting that the S&P 500 had been marching toward record highs as the reporting cycle approached. Their analysis underscores the dynamic between corporate fundamentals, equity risk, and the spillover into crypto markets.

Technically, observers also monitored order-book dynamics and liquidity around key levels. Material Indicators observed that bid liquidity near the $76,500 area had already shown signs of vulnerability, with lower-timeframe order flow trending downward. They added that it was surprising liquidity below the spot price had not been withdrawn, a factor that could precipitate a sharper move if the market loses momentum.

Other data points pointed to a potential news-driven push in the near term. A separate analysis thread highlighted that BTC’s price action in the lower timeframes had run up into a short-term peak, suggesting the rally could falter without fresh fundamental catalysts.

What to watch next

The coming sessions will hinge on geopolitical developments, energy-price movements, and the trajectory of corporate earnings. If the Middle East tension cools and oil resumes a clear downtrend, risk assets could gain room to extend, potentially nudging BTC back toward the $80,000 level. Conversely, renewed volatility or a deterioration in macro indicators could test support near the mid-to-high $70,000s.

Traders should watch liquidity around critical levels, the evolution of the earnings outlook, and any unexpected shifts in oil markets that could alter risk sentiment. The path forward remains uncertain, but the next moves in equities, energy, and macro data will likely dictate Bitcoin’s near-term direction.

US banking groups have escalated their campaign against the CLARITY Act by calling Senate offices directly, with the North Carolina Bankers Association confirmed on April 18 to be urging member banks to phone Senator Thom Tillis’s office personally to demand changes to the stablecoin yield compromise already agreed with the crypto industry.

Fox Business journalist Eleanor Terrett reported on April 18 that the North Carolina Bankers Association, a state banking trade group, was sending emails to member banks urging them to call Senator Thom Tillis’s office directly and weigh in against the stablecoin yield compromise language in the CLARITY Act. The move came just weeks after Tillis and Senator Angela Alsobrooks had reached a bipartisan agreement in principle on yield that both sides had described as nearly final.

CLARITY Act Stablecoin Yield Fight Enters Aggressive New Phase

As crypto.news reported, the North Carolina Bankers Association’s campaign targeted Tillis specifically because he represents the state where many of the most exposed community banks are headquartered, and because he was the lead Republican negotiator on the stablecoin yield language. The outreach did not stop at Tillis. According to sources cited by Disruption Banking, banking trade associations have since broadened the campaign to target other members of the Senate Banking Committee beyond the two lead negotiators, a move that crypto industry insiders describe as an attempt to reopen a deal the banks already lost in the closed-door negotiating room. White House Crypto Council executive director Patrick Witt responded by writing on X that the banks are “further lobbying out of greed or ignorance” and warning that the CLARITY Act must not be held hostage by yield concerns the administration’s own data has already refuted.

The Numbers Behind the Banks’ Argument and Why the White House Rejected Them

The banking industry’s core claim is that permitting stablecoin yield could trigger up to $6.6 trillion in deposit flight from the traditional banking system, a figure that has shaped the conversation in Senate Banking Committee meetings since January. The White House Council of Economic Advisers directly challenged that figure with a 21-page analysis finding that banning stablecoin yield would increase bank lending by just $2.1 billion, approximately 0.02% of total US loans, while imposing an $800 million net welfare cost on consumers. As crypto.news tracked, the Tillis-Alsobrooks compromise that banks are now trying to unwind drew a firm line: passive yield on stablecoin balances is banned, while activity-based rewards tied to payments, transfers, and platform use remain permitted. The American Bankers Association has argued that even this restricted version gives stablecoins a structural advantage over bank deposits, a position the White House report explicitly rejected.

What the Bank Campaign Means for the CLARITY Act Timeline

The aggressive lobbying has directly pushed the Senate Banking Committee markup from April into May at minimum, compressing an already narrow legislative window before the Memorial Day recess on May 21. As crypto.news documented, the bill faces five sequential hurdles after any markup: a 60-vote Senate floor threshold, reconciliation between the Agriculture and Banking Committee versions, reconciliation with the House-passed text from July 2025, and a presidential signature. Senator Bernie Moreno has warned that if the bill does not reach the Senate floor by May, it may not advance before the 2026 midterm election cycle closes the window entirely. As crypto.news noted, more than 120 organizations sent an April 23 letter to the Banking Committee demanding an immediate markup, warning that delays are pushing investment, jobs, and technological development offshore.

Senator Tillis has floated hosting an in-person crypto and banking meeting to resolve remaining issues, a step he acknowledged would add time but said is necessary because “there are still issues to negotiate.”

Key Highlights

• Alphabet shares gain ground following confirmation of $40B Anthropic partnership
• Multi-phase investment structure ties funding to performance benchmarks
• Massive computing power commitment positions Google Cloud for AI dominance
• Partnership intensifies competition in enterprise AI and developer tools
• Custom chip strategy challenges Nvidia’s market leadership

Shares of Alphabet (GOOG) climbed following disclosure of a substantial artificial intelligence partnership centered on infrastructure growth. The stock reached $340.97, posting a 0.95% gain during the trading session. Investor sentiment strengthened as the tech giant reinforced its commitment to next-generation computing and AI-powered cloud platforms.

Alphabet Inc., GOOG

Multi-Billion Dollar Commitment Transforms AI Capabilities

Alphabet has significantly expanded its financial backing of Anthropic through a milestone-based investment framework. An initial $10 billion infusion will be followed by potential additional funding of $30 billion, contingent upon achieving specific operational objectives. This approach ties capital allocation directly to demonstrable progress in artificial intelligence development.

The arrangement solidifies Google Cloud’s position as a critical infrastructure backbone for cutting-edge AI applications. Under the terms, the company pledges to deliver 5 gigawatts of computational capacity spanning five years. This substantial infrastructure promise underscores a strategic bet on cloud-hosted AI workload dominance.

The collaboration also advances Google’s proprietary chip development efforts through expanded tensor processing unit deployment. These specialized processors represent a direct challenge to Nvidia’s dominance in AI hardware. By promoting its custom silicon, Google aims to establish a competitive, scalable computing alternative for machine learning applications.

Investment Wave Reflects Surging Enterprise AI Adoption

Anthropic has emerged as a magnet for major capital inflows as artificial intelligence systems gain traction in corporate environments. Beyond this Google commitment, the AI startup recently obtained $5 billion from Amazon, with provisions for additional funding. This investment pattern demonstrates robust market confidence in the commercial viability of generative AI technologies.

The company currently maintains a $350 billion valuation, consistent with its earlier February financing round. Industry speculation suggests future valuations could approach $800 billion as competitive dynamics intensify. Such dramatic valuation growth underscores the fierce rivalry among premier AI innovators.

Anthropic’s technology portfolio generates substantial infrastructure requirements across development organizations. Its Claude Code platform facilitates large-scale automated software engineering. Meanwhile, the Cowork agent broadens accessibility by enabling non-technical users to leverage AI capabilities, accelerating enterprise adoption.

Complex Dynamics Define Google-Anthropic Relationship

The alliance between Google and Anthropic represents a unique blend of cooperation and rivalry in artificial intelligence advancement. Both organizations compete for enterprise market share through sophisticated models and robust infrastructure offerings. This coexistence of partnership and competition characterizes the contemporary AI marketplace.

Internal concerns persist regarding market position in AI-enhanced development platforms. Anthropic has captured significant developer mindshare, intensifying competitive urgency. In response, Google continues expanding investments to preserve its standing in this critical segment.

The initiative builds upon existing collaborations featuring Broadcom and cloud infrastructure enhancement projects. These alliances integrate networking architecture, computational resources, and software platforms into a cohesive technological ecosystem. Through these efforts, Alphabet fortifies its comprehensive strategy spanning AI hardware and cloud services.

Founded by Dario Amodei in 2021, Anthropic maintains aggressive expansion despite operational complexities. The company preserves strong Google connections while pursuing overlapping market objectives. Nevertheless, regulatory oversight and defense-sector considerations remain persistent elements of its strategic risk landscape.

This investment highlights a fundamental industry transition toward infrastructure-centric AI development. Major technology corporations increasingly merge financial backing with computational resource provision to establish market influence. This emerging framework continues reconfiguring competitive dynamics across cloud computing, semiconductor manufacturing, and artificial intelligence platforms.