Venice AI, an agentic artificial intelligence (AI) protocol created by Erik Voorhees, the founder and CEO of ShapeShift, has led the altcoin market over the past week.

Venice AI’s VVV token is up 135% over the last week, and 14% today to $4.28, or a $336 million fully diluted valuation (FDV), a 375% jump off its November low of $0.9.

Venice utilizes a dual-token system following the DIEM token launch in September, which provides DIEM stakers with free access to Venice AI models. DIEM reached an all-time high of $672 over the weekend, and currently changes hands at $586, a 200% increase from its launch price.

The token was launched during the peak of AI agent mania in January 2025, and traded as high as $9 within a week. However, VVV fell alongside the rest of the low-cap altcoin and AI agent market following the LIBRA token scam in February.

A year later, VVV is trading at its highest level since August 2025, with the protocol’s metrics hitting all-time highs. Voorhees posted on X that Venice is processing more than 45 billion large language model (LLM) tokens per day – double what he reported on Feb 4.

[PRESS RELEASE – Karavas, Cyprus, February 17th, 2026]

At a time when much of the blockchain industry is still recovering from one of its harshest downturns, a small number of companies are quietly moving in the opposite direction: expanding, building, and positioning themselves for the next era of adoption.

Public Masterpiece, a Cyprus-based real-world asset tokenization company, has announced PMT Chain, its own purpose-built Layer 1 blockchain. Alongside the announcement, the company confirmed a strategic repositioning: PMT, once short for Public Masterpiece Token, will now stand for Public Masterpiece Technology.

The timing is notable. Crypto did not simply experience a correction, but a $1.1 trillion stress test that dismantled inflated narratives and exposed weak token models. Many projects will not return.

Public Masterpiece is positioning itself as one of the exceptions. Even before revealing its Layer 1 ambitions, the company built traction through its Layer 2 presence on BNB Chain. Over the past 12 months, PMT has reportedly increased in price by 75%, outperforming 86% of the top 100 crypto assets, including Bitcoin and Ethereum, while trading above its 200-day moving average and remaining near its all-time high.

CoinMarketCap Screenshot of the Public Masterpiece Token Chart as of 13.02.2026

PMT Chain is designed specifically for real-world asset tokenization, with the company positioning the network as infrastructure for internationally renowned museums, galleries, private collectors, and global brands seeking secure and transparent certification solutions.

At the center of the ecosystem will be a Certification Hub in the UAE, staffed by evaluators, art experts, and historians. The goal is to establish an international framework for authenticating and evaluating physical artworks on-chain, addressing long-standing issues such as forgery, provenance manipulation, and the illegal trafficking of art, artifacts, collectibles, and historical goods.

CEO Kamran Arki described the mission with clarity:

“The last market cycle proved one thing: narratives collapse when foundations are weak. PMT Chain was built for real-world value and long-term trust. Museums, collectors, and brands need transparency, security, and permanence. That is exactly what we engineered.”

Public Masterpiece revealed that PMT Chain has been built over seven years, with five years dedicated solely to research and development, a timeline that stands in sharp contrast to the rapid-launch culture of the blockchain sector.

COO Garen Mehrabian emphasized the broader responsibility behind the project:

“Web3 will not reach mass adoption if it feels like a casino. Builders have the responsibility to create systems people can trust and understand. We didn’t build PMT Chain to ride a wave. We built it to create an ecosystem that survives every wave.”

Public Masterpiece Keynote Presentation at the main Stage of the RWA BUILDERS SUMMIT 2025

While art remains the cultural foundation, Public Masterpiece confirmed that PMT Chain is designed to scale beyond it, including real estate tokenization and broader RWA deployment. The network will also offer white-label tokenization and certification solutions, enabling institutions and companies to integrate blockchain infrastructure without building their own systems from scratch.

Perhaps most notably, Public Masterpiece confirmed that several governments are already in discussions regarding PMT Chain implementation. No names have been revealed, and the company has not announced a launch date. While the blockchain is reportedly ready, the founders have stated it will go live only when the timing is strategically optimal.

In a market where speculation has been punished and confidence is scarce, Public Masterpiece is betting that the next era of blockchain adoption will be defined by infrastructure, not hype.

About Public Masterpiece

Public Masterpiece is a real-world asset tokenization company building blockchain infrastructure designed to support tokenization, certification, and provenance for physical value across art and broader real-world asset markets.

Useful Links:

Crypto market sentiment has deteriorated sharply, with Matrixport’s Greed & Fear index falling to extremely depressed levels, suggesting the market may be approaching another inflection point.

Even so, Matrixport suggested that Bitcoin may still see downside ahead.

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Sentiment Signals Possible Inflection Point For Bitcoin 

In a recent market update, Matrixport said overall sentiment has dropped to extreme lows, reflecting broad-based pessimism across the digital asset space.

The firm highlighted its proprietary Bitcoin fear and greed gauge, explaining that “durable bottoms” have typically emerged when the 21-day moving average dips below zero and subsequently begins to turn upward. The setup appears to be in place, according to the chart.

“This transition signals that selling pressure is becoming exhausted and that market conditions are beginning to stabilize,” the post read.

The report added that, given the cyclical relationship between sentiment and Bitcoin price action, the latest extreme reading may indicate that the market is nearing another potential turning point.

At the same time, Matrixport warned that prices may continue to decline in the near term. 

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“While caution remains warranted, the current environment is increasingly forcing us to sharpen our focus and prepare for the conditions that typically precede a meaningful rebound,” the firm said.

On-Chain Indicators Signal Bear Market Stress

Meanwhile, technical indicators strengthen the picture of a stressed Bitcoin market. An analyst, Woominkyu, noted that the adjusted Spent Output Profit Ratio (aSOPR) has fallen back into the 0.92-0.94 range, a zone that previously coincided with major bear-market stress periods. 

“In 2019 and 2023, similar readings occurred during deep corrective phases where coins were being spent at a loss. Each time, this zone represented capitulation pressure and structural reset,” the post read.

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Historically, multiple cycle lows formed around the 0.92 to 0.93 region. The current structure, Woominkyu noted, resembles prior transitions into bear market phases rather than routine mid-cycle pullbacks.

If the metric fails to recover above 1.0 in the near term, it could increase the probability that Bitcoin is entering a broader bearish phase rather than undergoing a simple correction.

True market bottoms, the analyst argued, tend to form only after deeper compression in aSOPR, peak loss realization, and full exhaustion of selling pressure. While the market appears to be entering a stress zone, it may not yet reflect full capitulation.

“aSOPR is signaling structural deterioration. This looks less like a dip and more like a regime shift. The real bottom may still require deeper compression before a durable reversal forms,” the analyst added.

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This view aligns with broader bearish projections suggesting Bitcoin could revisit levels below $40,000 before forming a durable bottom.

BeInCrypto Markets data shows Bitcoin is currently trading around $68,000. A drop below $40,000 would imply a decline of more than 40% from current levels, highlighting the scale of downside risk some analysts believe remains on the table.

For now, sentiment indicators hint at a potential turning point, but on-chain data suggests structural weakness may still need to run its course before a recovery can begin.

The term “SaaSpocalypse” is trending across financial markets, tech media, and investor circles. It refers to a sudden loss of confidence in software-as-a-service (SaaS) companies after the launch of advanced AI agents capable of automating tasks traditionally handled by enterprise software. 

The term became popular after Anthropic released its Claude Cowork AI platform in late January. Following its launch, nearly $300 billion in global software market value was erased. Stocks of major SaaS firms—including Salesforce, Workday, Atlassian, and ServiceNow—fell sharply as investors questioned whether AI agents could replace large parts of their business.

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AI Agents Trigger Market Panic

The core fear driving the SaaSpocalypse is simple: AI agents can now perform entire workflows autonomously. 

Tools like Claude Cowork can review contracts, analyze sales data, generate reports, and execute multi-step tasks across multiple applications. 

Instead of employees using five separate SaaS tools, a single AI agent can complete the same work.

This directly threatens the SaaS pricing model, which typically charges companies per user or “seat.” If AI reduces the need for human users, companies may need fewer licenses. Investors reacted quickly to this risk. 

The S&P 500 Software and Services Index fell nearly 19% in early February, marking its worst losing streak in years. 

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At the same time, capital rotated toward AI infrastructure providers such as Nvidia, Microsoft, and Amazon, which supply the compute power behind AI agents.

Why the SaaSpocalypse Matters Beyond Software

The SaaSpocalypse reflects a deeper shift in how software creates value. Instead of selling tools that humans operate, companies are beginning to sell outcomes delivered by AI. 

Analysts now describe this as a transition from software-as-a-service to “AI-as-a-service.” This shift challenges decades-old business models and forces software companies to rethink pricing, licensing, and product strategy.

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However, this is not necessarily the end of SaaS. Many enterprises will still rely on established platforms for security, compliance, and data management. 

Instead, the disruption will likely reshape the industry, forcing software companies to integrate AI deeply into their products.

How the SaaSpocalypse Could Impact Crypto Markets

The SaaSpocalypse is already affecting crypto markets indirectly. Both crypto and SaaS are considered high-growth, risk-sensitive sectors. 

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When investors sell software stocks, they often reduce exposure to crypto as well. In early February 2026, Bitcoin fell sharply as software stocks also posted heavy losses.

More importantly, capital is shifting toward AI. Venture capital invested over $200 billion into AI startups in 2025—far more than crypto received. 

This means fewer resources may flow into new crypto projects, slowing innovation in some areas.

At the same time, crypto could benefit in specific niches such as decentralized computing and AI infrastructure. 

But overall, the SaaSpocalypse signals a major capital rotation. AI is becoming the dominant investment theme, and crypto markets will need to compete for investor attention in this new environment.

Nevertheless, the company continues to be in the red on its BTC position.

The world’s largest corporate holder of bitcoin has used the current market slump as an opportunity to increase its BTC portfolio at prices of under $70,000.

In its latest purchase, announced minutes ago, Strategy’s co-founder, Michael Saylor, said the firm accumulated 2,486 BTC for almost $170 million at an average price of $67,710 per unit. This puts the NASDAQ-listed company’s total bitcoin fortune at 717,131 BTC, bought at an average price of $76,027.

Strategy has acquired 2,486 BTC for ~$168.4 million at ~$67,710 per bitcoin. As of 2/16/2026, we hodl 717,131 $BTC acquired for ~$54.52 billion at ~$76,027 per bitcoin. $MSTR $STRC https://t.co/wvxRYZlQ3Y

— Michael Saylor (@saylor) February 17, 2026

The cryptocurrency market’s decline in the past several weeks has turned Strategy’s holdings into a losing position, even though the firm has repeatedly reassured that it has no plans to dispose of any of its BTC.

At a bitcoin price of $68,000 as of press time, Strategy’s holdings are now worth less than $49 billion. In other words, the firm stands in an unrealized loss of over $5 billion for the first time since the 2023 bear-market closure.

The company’s stock price experienced heightened broader market volatility over the past few weeks, falling from $140 to $120 last week before stabilizing at around $134.

Bridge, the stablecoin platform owned by payments giant Stripe, has won conditional approval from the US Office of the Comptroller of the Currency to organize as a federally chartered national trust bank. The OCC decision, announced on February 12, would enable Bridge to operate stablecoin products under direct federal oversight once final clearance is granted and custody digital assets, issue stablecoins, and manage reserves within a nationwide banking framework. Bridge described the milestone as a step toward scaling stablecoins with robust governance, noting that the GENIUS Act—signed into law in July 2025—creates a regulatory backdrop in which banks can participate more confidently. The move coincides with Stripe’s 2025 acquisition of Bridge for about $1.1 billion to bolster stablecoin payments.

Key takeaways

• Bridge has earned conditional approval to organize as a federally chartered national trust bank, placing its stablecoin and custody activities under federal oversight once final clearance is granted.
• The charter would empower Bridge to custody digital assets, issue stablecoins, and manage stablecoin reserves within a regulated banking framework.
• Bridge’s move is part of a broader OCC push to license crypto firms as national trust banks, with BitGo, Fidelity Digital Assets, Paxos, Circle, and Ripple cited in related actions.
• The GENIUS Act’s implications are now central to the conversation, with Bridge describing its compliance framework as “GENIUS ready” as regulators clarify stablecoins, yield, and oversight.
• The American Bankers Association has urged caution, arguing that GENIUS rules remain unclear and that national charters could be used to bypass existing regulatory oversight, prompting a careful pace in approvals.
• Policy discussions in the White House and in Congress continue to weigh stablecoin yield and the broader digital-asset market structure, potentially shaping how chartered institutions interact with tokenized assets and investor protections.

Market context: The OCC’s latest action comes as the broader push for regulated stablecoin rails gains momentum and lawmakers pursue a comprehensive digital asset framework in the Senate. With the GENIUS Act guiding how federal charters apply to crypto services, the market is watching closely for clarity on yield, custody, and interoperability across regulated banks and crypto platforms. The development signals a potential shift toward more formalized on-ramps for institutions seeking stablecoin-based payments and settlements.

Why it matters

For users and developers, a federally chartered national trust bank could offer stronger consumer protections, clearer governance, and the potential for more scalable, regulated stablecoin services. A formal federal framework may reduce counterparty risk and improve liquidity for on-chain payments that depend on stablecoins for settlement and cross-border remittances, creating a more predictable environment for builders and merchants integrating digital assets into payments rails.

For issuers and platforms, obtaining a national charter could streamline governance, custody, and treasury operations, enabling broader product offerings at scale. Yet regulatory clarity remains a work in progress, particularly as GENIUS Act rules are implemented and interpreted, leaving room for ongoing debate over how stablecoins fit within the broader financial system and how yield incentives align with investor protections.

From a market perspective, regulated rails could attract traditional finance participants into the crypto ecosystem, potentially boosting liquidity and interoperability while concentrating influence among a handful of chartered institutions. The balance between robust oversight and fostering innovation will shape how quickly these rails expand and how risk is managed across custody providers, issuers, and banks working on crypto-native products.

What to watch next

• Final OCC approval for Bridge’s national trust bank charter and any accompanying compliance conditions.
• Regulatory clarifications around the GENIUS Act, including timelines for implementing rules affecting stablecoins and tokenized assets.
• Updates on other charter applications (Circle, Ripple, BitGo, Fidelity, Paxos) and their progress through the OCC process.
• Any Congressional or White House developments on the digital asset market structure framework and stablecoin yield policy.
• Stripe’s follow-on steps to integrate Bridge’s charter with its broader payments ecosystem and stablecoin issuance plans.

Sources & verification

• Bridge announces conditional OCC approval to organize a federally chartered national trust bank (Bridge blog post).
• OCC CAAS filing details Bridge’s application and approval on February 12 for a national bank charter.
• Stripe’s 2025 acquisition of Bridge for approximately $1.1 billion to support stablecoin payments.
• American Bankers Association letter urging OCC to slow crypto trust charter approvals and seek GENIUS Act clarity.
• White House discussions with crypto and banking industry representatives on stablecoin yield and the market-structure framework.

Bridge advances toward a federally chartered stablecoin backbone under GENIUS Act

Bridge’s path to a federally chartered national trust bank represents a notable milestone in the evolving architecture of crypto rails in the United States. The OCC’s conditional blessing—arrived at a moment when several crypto firms are pursuing national trust bank charters—signals a shift from state-level trust status to a federally supervised framework. Bridge’s core business—custody of digital assets, stablecoin issuance, and reserve management—appears poised to move under the OCC’s direct oversight, subject to final approval conditions that would iron out governance, risk controls, and capital requirements. Bridge did not merely seek a license; it framed the move as an alignment with a broader regulatory philosophy spawned by GENIUS Act provisions, which aim to give regulated banks and crypto platforms clearer boundaries and predictable accountability in a rapidly changing landscape.

In a public post outlining the significance of the milestone, Bridge highlighted its commitment to a “GENIUS-ready” posture. The firm argued that a national trust bank charter would provide customers with a robust regulatory backbone, enabling them to build and scale stablecoin-enabled services with greater confidence. Bridge’s stance gains resonance in an ecosystem where stablecoins have become a fundamental component of daily settlement, cross-border payments, and DeFi liquidity flows. The company’s assertion that federal oversight can coexist with innovation reflects a broader assumption in the sector: when properly structured, regulated rails reduce systemic risk and lay the groundwork for responsible growth.

Context matters: Bridge’s bid comes amid a wave of OCC activity aimed at formalizing crypto banking services. Earlier in the year, regulators conditionally approved BitGo, Fidelity Digital Assets, and Paxos to convert state-level trust charters into national ones, while Circle and Ripple were also cited as pursuing national bank charters. The development underscores a shared regulatory objective—provide credible, centralized supervision for digital-asset activities that involve custody, settlement, and stablecoin issuance—without stifling technological progress. The OCC’s caution around GENIUS rule clarity, voiced by the American Bankers Association, reflects a healthy insistence on transparent standards before broad approvals, ensuring that national charters do not create loopholes that circumvent existing oversight or risk controls.

Bridge’s news sits within a larger policy milieu shaped by ongoing Senate deliberations on a comprehensive digital asset market structure framework. In parallel, White House officials have continued to meet with representatives from the crypto and banking sectors to discuss stablecoin yields and related conflicts of interest, highlighting the administration’s interest in aligning economic incentives with consumer protections. As policymakers weigh the balance between innovation and risk management, the question remains: will GENIUS Act guidance crystallize quickly enough to catalyze a new class of federally regulated crypto rails, or will regulatory ambiguity slow the pace of charter grants? The answer will influence how institutions, investors, and developers navigate the next wave of stablecoin adoption and institutional custody solutions.

Bridge’s forthcoming steps—whether that entails final OCC certification, the refinement of risk-management policies, or integration with Stripe’s wider payments infrastructure—will be closely watched by market participants seeking predictable regulatory footing for stablecoins and on-chain settlement. For many in the industry, the news signals a disciplined shift toward formalized governance and oversight that could unlock new levels of scale and reliability in digital-asset services. Yet the path remains contingent on regulatory clarifications, the pace of approvals for other charter applicants, and the evolution of how stablecoins are treated within the broader financial system. As the year unfolds, the OCC’s decisions and legislative updates will likely shape the contours of crypto banking for the foreseeable future.

HBAR price has rebounded in the past few days, moving from the year-to-date low of $0.0725 to the psychological level at $0.100.

Hedera (HBAR) remains well below last year’s high of $0.3025 and the November 2024 high of $0.4012.

The recent rebound followed Hedera’s addition of FedEx to its governance council. It joined other top companies like Tata Communications, Google, Mondelez, ServiceNow, and IBM. All these companies have historically pledged to use Hedera’s technology in their decentralized products.

The risk, however, is that third-party data indicate that Hedera’s ecosystem is much smaller than those of newer crypto projects such as Monad, Plasma, Hyperliquid, and Provenance.

Hedera’s decentralized finance ecosystem has a total value locked of just $58 million, with most projects showing no activity. This is despite Hedera being capable of handling over 1,000 transactions per second and having much lower fees than other chains.

Hedera also has a negligible market share in the stablecoin industry, with its total supply down to $68 million from last year’s peak of over $300 million. The stablecoin supply across all chains has jumped to over $300 billion.

Hedera has no market share in the booming Real-World Asset tokenization industry, which has accumulated over $24 billion in assets under management. Ethereum has the largest market share, with over $17 billion in assets, and is followed by other popular chains such as BNB, Solana, and XRP Ledger.

These metrics likely explain why the Canary HBAR ETF has struggled to attract assets. It has had no inflows since February 9, while its total assets have dropped to $51.3 million. Hedera’s futures open interest has also continued to fall over the past few months.

HBAR price technical analysis

The weekly timeframe chart shows that the HBAR price has been in a strong downward trend in the past few months, moving from a high of $0.3026 in July to the current $0.1.

The coin remains below all moving averages and is stuck at the Ultimate Support level of the Murrey Math Lines tool. It is also below the Supertrend and the Ichimoku cloud indicators.

Therefore, the most likely Hedera price forecast is bearish, with the next key target being the year-to-date low of $0.0725. A drop below that level will point to more downside, potentially to the all-time low of $0.036.

The crypto market wavered today, February 17, as traders watched several potential catalysts, including Federal Reserve statements and the happenings in the Middle East.

Crypto market on edge after a dovish statement by Austan Goolsbee

Bitcoin (BTC) price was little changed at $67,000, while Ethereum (ETH) was trading at $1,980. The market capitalization of all coins dropped by 0.15% in the last 24 hours to over $2.34 trillion.

Similarly, the Crypto Fear and Greed Index was hovering at the extreme fear zone of 13, while the Altcoin Season Index was trading at 31.

The crypto market wavered after Austin Goolsbee, the head of the Chicago Fed, noted that there was room for several interest rate cuts this year if inflation continues to fall toward the 2% target. He said: 

“I do think that if this proves to be transitory, and we can show that we’re on path back to 2% inflation, I still think there’s several more rate cuts that can happen in 2026, but we’ve got to see it.”

The statement came a few days after the Bureau of Labor Statistics published encouraging consumer inflation dropped to 2.4% in January from the previous 2.7%, while the core CPI remained unchanged at 2.5%. Inflation has been trending downward from 3%, and the downtrend may continue in the coming months.

The recent dot plot signaled that the Fed will deliver one interest rate cut this year. On the other hand, Polymarket traders anticipate that the bank will cut rates three times.

The crypto market would benefit from more interest rate cuts, as we saw during the Covid pandemic, when Bitcoin and most altcoins jumped to record highs as central banks slashed rates.

Hedge funds are betting against the dollar

Goolsbee’s statement came as a report showed the hedge funds were increasingly bearish on the US dollar. The survey by Bank of America showed that the currency’s positioning among fund managers fell to the lowest level in over a decade. In theory, a weaker dollar benefits the crypto market because most coins are quoted in U.S. dollars.

Looking ahead, the next major catalyst for Bitcoin and other altcoins will come on Wednesday, when the Federal Reserve releases minutes from its last monetary policy meeting. These minutes will provide more information about the last meeting and hints on what to expect in the next meetings.

TLDR:

• Bundesbank President Nagel endorsed euro stablecoins as low-cost tools for cross-border payments across Europe.
  
• The digital euro will become the first pan-European retail payment solution built on solely European infrastructure.
  
• A wholesale CBDC is in development to enable programmable central bank money payments for financial institutions.
  
• Nagel warned Europe can no longer rely on transatlantic cooperation and rules-based order as it once did.

Germany’s Bundesbank President Joachim Nagel has publicly endorsed euro-denominated stablecoins as a viable tool for cross-border payments.

Speaking at the American Chamber of Commerce in Germany on February 16, 2026, in Frankfurt, Nagel outlined a broader vision for European financial sovereignty.

His remarks covered payment system independence, regulatory reform, and capital market integration. The endorsement marks a notable shift in tone from a senior European central banker on private digital assets.

Nagel Makes the Case for Euro-Denominated Stablecoins

Euro stablecoins, according to Nagel, can facilitate cross-border payments for individuals and firms at lower cost. This positions them as practical instruments rather than speculative assets.

The focus is specifically on euro-denominated instruments that reinforce European monetary control. By framing stablecoins within a sovereignty narrative, Nagel separates them from broader crypto market concerns.

The endorsement did not come in isolation. Nagel stated that the Eurosystem is actively working toward a retail central bank digital currency.

He described it as “the first pan-European retail digital payment solution, based solely on European infrastructures.” Euro stablecoins, in his view, serve a complementary role alongside this public infrastructure.

Work on a wholesale CBDC is also advancing in parallel. Nagel noted that “a wholesale CBDC would allow financial institutions to make programmable payments in central bank money.”

Together, the retail CBDC, wholesale CBDC, and euro stablecoins form a layered European digital payments ecosystem. Each instrument serves a distinct purpose within that framework.

The core argument is that Europe must reduce its dependence on foreign-controlled payment networks. Currently, major digital payment solutions used across the EU rely heavily on US-based providers.

Euro stablecoins offer a market-driven complement to public infrastructure in closing that gap. Nagel’s endorsement lends institutional credibility to that path forward.

Broader European Reforms Back the Digital Payments Push

The stablecoin endorsement fits within a wider agenda to strengthen the international role of the euro. Nagel outlined three reform priorities: regulatory simplification, the Savings and Investments Union, and euro payment sovereignty.

He described this as “an ambitious programme” that he regards as “essential to successfully overcoming the current challenges.” Each priority connects to the others in building a more resilient European economy.

Regulatory complexity remains a known obstacle to growth and investment across Europe. Nagel referenced reports by Enrico Letta and Mario Draghi calling for streamlined EU rules.

He stressed that “it is not their mere existence that causes problems” but rather “their extraordinary complexity and rigidity.” An ECB High-Level Task Force on simplifying financial regulation is active, with Nagel serving as a member.

Capital market fragmentation across member states continues to limit private investment. Nagel pointed out that “a high degree of economic fragmentation still remains” despite over 30 years of the single market.

The Savings and Investments Union was presented as the key mechanism to address this gap. High European savings, he argued, “could be better channelled into fostering innovation, productivity and competitiveness.”

Transatlantic trade remains substantial, with the EU and US together representing 44% of global GDP. However, Europe is clearly preparing for a world where that partnership carries more uncertainty.

Nagel was direct in saying, “we cannot rely on transatlantic cooperation and the rules-based international order to the same extent as before.”

His support for euro stablecoins reflects that broader repositioning of European financial policy toward greater independence.