TLDR:

• Chris Peikert joins Algorand Foundation as CSO, bringing deep expertise in post-quantum and lattice-based cryptography.
• Four protocol engineers from Algorand Technologies now support the Foundation’s growing technical infrastructure team.
• A mandatory Pre-ARC discussion phase will filter proposals before they advance to formal draft or finalization status.
• ARC Kit CLI is introduced as the standard tool to enforce formatting, rules, and transitions across all ARC submissions.

Algorand Foundation has announced two major developments this week. The organization welcomed five new team members from Algorand Technologies.

At the same time, a structural update to the Algorand Request for Comments process was also revealed. These moves reflect the Foundation’s commitment to strengthening protocol engineering and ecosystem governance.

Together, they position Algorand Foundation as a more unified and accountable blockchain organization globally.

Algorand Foundation Strengthens Protocol Engineering with Key Hires

Chris Peikert has joined Algorand Foundation as Chief Scientific Officer. He previously served as Head of Cryptography at Algorand Technologies.

Peikert is also the Arthur W. Burks Collegiate Professor of Computer Science at the University of Michigan. Additionally, he is a Fellow of the International Association for Cryptology Research. His expertise centers on lattice-based and post-quantum cryptography.

Peikert led Algorand’s post-quantum security implementations before this transition. He will continue that same work in his new role.

This move follows the unification of protocol and ecosystem operations under Algorand Foundation. The consolidation was designed to bring key technical leadership together under one structure.

John Jannotti also joined as Senior Vice President of Protocol Engineering. He will lead the Foundation’s Protocol Engineering team going forward.

Under his leadership, Pavel Zbitskiy and one additional team member took on roles as Principal Protocol Engineers. John Lee joined separately as Director of Protocol Infrastructure.

As Algorand shared on X, the five hires are described as “invaluable additions to the Algorand Foundation technical team.”

Their work will support payments, asset tokenization, and decentralized financial infrastructure. The Foundation sees this expanded team as central to its mission of global financial empowerment through blockchain.

Algorand Foundation Introduces Reforms to the ARC Governance Process

The Algorand Request for Comments process is also undergoing formal reform. Cusma, who is now managing the ARC repository, outlined the update on X.

He thanked outgoing maintainer Stéphane Barros for his contributions to the process. The reform aims to improve consistency, reduce fragmentation, and avoid premature ARC finalization.

One major change is a mandatory Pre-ARC discussion phase. Before any proposal becomes a formal draft, authors must establish a clear need and scope.

Overlap with existing ARCs must also be examined during this phase. This step is meant to filter out proposals that lack practical grounding.

Every ARC will now also require a named sponsor — either Algorand Foundation or an Algorand Ecosystem entity.

Machine-readable adoption tracking will be mandatory before an ARC advances from “Last Call” to “Final.” This ensures that only proposals with proven ecosystem usage reach final status.

A new tool called ARC Kit CLI will support the process going forward. It enforces formatting, rules, and state transitions for ARC authors.

Cusma plans to share full details at the next Algorand Developer Council meeting. The reforms are focused on making ARCs easier to maintain and more aligned with real-world adoption.

AI and crypto have worked together for years, and now and then something happens that reshapes what the best cryptos to buy now actually look like. Goldman Sachs just signaled that crypto prices may have bottomed, and the $3.6 trillion asset manager’s research confirms the turn is forming.

Pepeto’s exchange is one of those events that changes the conversation entirely, the most advanced meme trading platform constructed this cycle with more than $8 million raised and the Binance listing approaching, and analysts project 100x from the current entry.

Goldman Sachs analyst James Yaro published research on March 26 indicating crypto prices may have reached a cyclical low, with crypto linked equities stabilizing after a 46% decline from October 2025 peaks according to CNBC.

The firm flagged Robinhood, Coinbase, and Figure Technologies as top buys. According to Bitcoin Magazine, K33 Research confirmed BTC ranged between $60,000 and $75,000, a pattern that historically precedes recoveries. The best cryptos to buy now are the presale entries positioned to capture the turn Goldman confirmed.

Tokens With Real Infrastructure and Where the Wealth Building Entry Lives

Pepeto: The Exchange With Greater Growth Potential Than Any Large Cap This Cycle

Pepeto is considered by many to be the best crypto to buy now because it has greater growth potential than any other entry this cycle. This comes from a combination of factors, the two most important being its fully built exchange technology and the massive number of traders it serves.

The exchange has fully developed a complete set of trading tools that transform how capital moves through the market.

PepetoSwap provides zero cost order filling that keeps every dollar the reader commits fully intact, the direct chain routing moves tokens between networks with nothing taken from the transfer, and the danger screening tool reviews every contract before entry, confirmed by a SolidProof audit.

The result is an essential protection layer that changes how the reader handles every trade, and the architect who launched the original Pepe token to $11 billion on meme energy alone built this exchange with a Binance operations leader.

It is not a surprise that the presale attracted capital faster than any entry this cycle. In just 8 stages, the exchange raised more than $8 million during extreme fear, and because the entry is still at $0.000000186, there is room for exponential growth. Analysts project a 100x move as the Binance listing opens, and 191% APY staking amplifies every position while the listing window narrows.

BNB

BNB trades at $614 per CoinMarketCap, holding steady as the broader market corrects around it. At $83 billion market cap.

A recovery to $700 delivers 14% over months, a strong ecosystem anchor for patient holders, while the presale entry targets 100x from one listing event and the wallets entering are building the position the bull run rewards.

Tron (TRX)

TRX trades at $0.31 per CoinGecko, supported by its dominance in USDT transfers and $10 billion in daily stablecoin volume.

A recovery to $0.38 delivers 22% over months, solid infrastructure value, while presale entries are where the cycle defining multiples live and Pepeto offers exactly that math right now.

The Best Cryptos to Buy Now Are the Ones That Turn Presale Entries Into the Returns Goldman Confirmed Are Coming

Goldman Sachs just confirmed the bottom is forming, and the best cryptos to buy now have put everything into real exchange infrastructure that is already running. The investors who bought BNB at $0.15 turned $1,000 into $9 million and changed everything about how they live and what they never have to worry about again, and they saw a working exchange at presale pricing and acted.

The Pepeto official website is still open, you can still enter, but the Binance listing is approaching fast and the presale pricing disappears permanently the moment it arrives, and a 2026 portfolio holding Pepeto before that listing is the strongest position in crypto right now.

Click To Visit Pepeto Website To Enter The Presale

FAQs

When will Pepeto’s exchange tools be ready for use among the best cryptos to buy now?

Pepeto’s exchange is already fully running with zero fee trading, cross chain transfers, and contract screening confirmed by a SolidProof audit, ready for every trader today.

How fast is Pepeto’s user base expected to grow after listing?

Pepeto’s growing trader community is projected to expand rapidly after the Binance listing, and the Pepeto official website is where the presale entry is still available.

What would make Pepeto’s price reach 100x as one of the best cryptos to buy now?

Analysts project 100x as the Binance listing opens and exchange adoption scales, making Pepeto one of the best cryptos to buy now for the wallets entering today.

Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.

Prediction markets, built to aggregate collective judgment, are increasingly being overshadowed by ultra-fast automated systems that can exploit fleeting pricing gaps in real time. As artificial intelligence-driven agents begin to operate at scale, the window for profit from mispricings is narrowing for human traders and expanding for algorithmic traders capable of scanning thousands of markets per second.

According to Rodrigo Coelho, CEO of Edge & Node, the current landscape already favors automated execution: bots are scanning hundreds of markets every second, and AI-driven agents are poised to expand their role as these capabilities mature. “Capturing those opportunities requires monitoring thousands of markets and executing trades almost instantly, which is why they’re largely dominated by automated systems,” Coelho told Cointelegraph. He added that prediction markets are a natural next step for AI systems designed to exploit short-lived pricing gaps without human input.

That view aligns with broader observations about how prediction markets operate in practice. While participants can speculate on outcomes independent of macro conditions, the fastest arbitrageurs—often automated—can lock in profits from tiny deltas in probability. As one observer noted, even a several-second delay between an event and a market update can create a latency arbitrage opportunity that bots can monetize with near certainty in that brief window.

In recent years, researchers have documented consistent pricing inefficiencies in prediction markets. A study examining Polymarket found frequent mispricings within individual markets and across related markets, enabling arbitrage positions. The researchers estimated that roughly $40 million had been extracted from these inefficiencies, illustrating the real monetary potential of such mispricings when exploited at scale. These findings underscore why the space is proving attractive to automation enthusiasts and AI researchers alike.

Prediction markets are still nascent, but their underlying technology is evolving. Polymarket, for example, has taken steps to bolster trading costs and reduce immediate profitability for certain strategies by introducing taker fees in shorter-duration markets. Outcomes are not finalized instantly, which tempers the reliability of some arbitrage approaches and complicates the profitability math for participants.

Key takeaways

• Latency arbitrage in prediction markets creates near-term edge opportunities that are most easily exploited by automated trading systems scanning thousands of markets per second.
• A recent academic study suggests Polymarket exhibits persistent pricing inefficiencies, with researchers estimating roughly $40 million extracted from arbitrage opportunities.
• Open interest in Polymarket surged during the 2024 U.S. elections, reflecting ongoing appetite for prediction-market exposure, with politics, sports, and crypto among the most-active topics.
• As AI agents grow more capable, concerns about market manipulation rise, including the potential for large capital holders to sway outcomes in thin markets.
• The transition from simple execution bots to autonomous, AI-assisted trading systems could broaden participation but also heighten the need for guardrails and prudent oversight.

Latency, mispricings, and the economics of prediction markets

The core economics of prediction markets hinge on price discovery and the accuracy of probabilities assigned to outcomes. When a participant or an algorithm can detect an event and respond faster than the market can recalibrate, a temporary mispricing can appear. In practice, even a few seconds of delay can offer a window in which an automated trader guarantees a favorable outcome, provided the market update occurs belatedly after the event realization.

Academic work and industry observations converge on a similar point: mispricings are not rare in practice, and the profitability of exploiting them is highly sensitive to speed and information latency. Polymarket’s own market design and liquidity dynamics contribute to such inefficiencies, particularly in markets with lower liquidity or where probability sums do not align perfectly across related instruments. The estimated $40 million extracted from arbitrage underscores the materiality of these opportunities, even as total trading volumes grow and platforms attempt to tighten pricing frictions.

These dynamics are amplified by the evolving technical toolkit behind trading. On the one hand, humans continue to participate and conduct analyses using conversational AI and data tooling. On the other hand, a growing cadre of automated agents can operate with minimal human input, allowing them to act on micro-second or second-level signals that might elicit only modest reactions from human traders.

AI agents, governance, and the risk of influence in thin markets

Beyond pure arbitrage, AI agents raise governance questions about how markets respond to large-scale automated activity. Large players with substantial capital can influence outcomes by concentrating bets on a single side, a dynamic that has sparked fresh concerns about manipulation as AI agents gain sophistication. In one high-profile reference, a Bloomberg report described a prominent incident during an election cycle in which a large, unidentified trader placed a multi-million-dollar bet on a specific political outcome, highlighting how sizable wagers can tilt sentiment in prediction markets when liquidity is thin.

Data from Dune Analytics shows Polymarket’s open interest peaked around the 2024 U.S. elections, with politics remaining the dominant topic and sports and crypto rounding out the top categories. The evolution of open interest signals sustained engagement in a speculative tool that, at scale, can be swayed by large bets and rapid shifts in funding. As AI agents become more capable of pattern recognition and decision-making, the stakes for responsible market design and guardrails rise accordingly.

Industry observers emphasize that this is not a purely hypothetical concern. Pranav Maheshwari, an engineer at Edge & Node, argues that the increasing capability of AI agents makes guardrails essential as these systems begin acting autonomously at scale. “With higher capabilities, you need to restrict permissions and ensure safety measures to prevent unintended consequences,” he noted. The sentiment is echoed across the field: as agents move from assisting with research to executing trades and policies autonomously, the potential for unintended market impacts grows.

Polymarket’s own evolution illustrates the tension between accessibility and risk. While the platform has lowered barriers for users and introduced measures such as taker fees to temper aggressive short-horizon trading, final outcomes still require human or semi-automated oversight. The presence of AI-enabled strategies in this space highlights a broader question for regulators and platform designers: how to preserve market integrity and prevent manipulation while encouraging innovation and participation.

From execution bots to autonomous trading: the broader industry shift

Market participants are increasingly observing a shift in how trading is conducted. The early generation of arbitrage relied on rule-based bots designed for fast execution, but the frontier now extends to AI-assisted systems that can identify opportunities in real time, interpret structured data, and autonomously decide on trades. Industry voices note that many retail traders still rely on research interfaces and chat-based tools for decision support, but the most advanced users are experimenting with automated policies and even autonomous trading agents.

Archie Chaudhury, CEO of LayerLens, describes a spectrum of activity: a portion of retail participants use coding agents to create automated bots or algorithms, while others pursue higher levels of automation that can broadcast or enforce trading policies. He also notes that large language models are well-suited to parsing and interpreting financial data, potentially lowering the technical barriers that historically separated retail and institutional-grade quantitative activity. The result is a trading ecosystem where execution speed and data interpretation power increasingly determine competitive advantage.

Despite the rapid progression, the market remains highly dependent on the quality of the underlying data and the reliability of the pricing mechanisms. As automation becomes more prevalent, traders and platforms alike will need to balance the drive for speed with safeguards that prevent manipulation and preserve fair access for participants with varying levels of technical sophistication.

Looking ahead, the trajectory suggests two intertwined themes: the continued improvement of AI agents and the ongoing maturation of governance frameworks around prediction markets. The acceleration of autonomous decision-making poses opportunities for more efficient price discovery and broader participation, but it also raises questions about transparency, accountability, and the risk of concentrated influence in thin markets.

For investors and builders, the takeaway is clear: expect the edge to shift from human reaction time to automation and data-driven decision-making. Platform designers should prioritize robust risk controls, explicit permissioning for autonomous agents, and clearer disclosure around open-interest dynamics and pricing inefficiencies. Regulators, meanwhile, will weigh how to preserve market integrity without stifling innovation in this rapidly evolving sector.

As AI literacy among retail participants grows, the ecosystem will likely see a wider adoption of automated tools, alongside ongoing debates about guardrails and oversight. The coming quarters will reveal how much of the current arbitrage edge can be sustained as markets and technologies evolve in tandem.

What remains uncertain is how quickly regulatory frameworks will adapt to these capabilities and what new guardrails will emerge to balance openness with protection against manipulation. Investors and traders should monitor policy developments, platform responses to latency risks, and the emergence of standardized practices for autonomous trading in prediction markets.

• Netflix Raises All Plans Again, Boosting Revenue Per Subscriber
• Ad Tier and Premium Plans Both See Steady Price Increases
• Price Hikes Support Content Spend and Long-Term Growth Strategy

Netflix has raised subscription prices across all US plans, reinforcing its revenue strategy. The Standard with ads plan now costs $8.99 monthly, while Premium reaches $26.99. The move marks the second increase in just over a year and signals continued pricing momentum.

Pricing Structure Adjusts Across All Plans

Netflix has implemented new pricing across its subscription tiers, affecting both new and existing users. The ad-supported plan increased by one dollar, reaching $8.99 per month. The Standard ad-free plan rose to $19.99, reflecting a two-dollar increase.

The Premium plan climbed to $26.99 per month after a three-dollar adjustment. These changes apply immediately to new subscribers and will roll out gradually to current users. Existing members will receive advance notice before updated billing cycles begin.

Netflix raised its extra member fees tied to account sharing policies. The ad-based extra member fee now costs $7.99, while the ad-free option increased to $9.99. These adjustments align with broader efforts to manage account usage and maximize subscription revenue.

Revenue Strategy and Market Position Strengthen

Netflix continues to rely on pricing adjustments as a key driver of revenue growth. The company leverages its scale of over 325 million subscribers to support incremental price increases. As a result, it expects higher average revenue per user across North America.

Industry estimates indicate that the latest changes reflect an average increase of around 11 percent. Consequently, revenue per subscriber in the US and Canada could rise by approximately six percent this year. This growth supports broader financial targets and operating margin expansion.

At the same time, Netflix maintains confidence in its competitive position within the streaming market. The platform continues to expand its content library and improve user experience. It positions pricing as a reflection of added value rather than a cost burden.

Industry Trends and Growth Outlook

Netflix follows a wider industry trend where major streaming platforms increase subscription costs. Competitors such as Spotify, Amazon Prime Video, Crunchyroll, and Paramount+ have also raised prices this year. This pattern highlights growing pressure to balance content investment with profitability.

Moreover, Netflix continues to prioritize organic growth following recent strategic decisions. The company exited a major acquisition opportunity and retained a multi-billion-dollar breakup fee. This outcome strengthens its financial flexibility and supports future investments.

Looking ahead, Netflix targets annual revenue exceeding $50 billion with improving operating margins. The company also expects advertising revenue to expand significantly alongside membership growth. These factors position Netflix to sustain momentum despite ongoing pricing adjustments.

Since Bitcoin’s all-time high of $127,000 in October 2025, the first quarter of 2026 has gotten off to a shaky start, with Bitcoin crashing to a $60,000 floor in under five months. While this whiplash may be painful, it looks worse than it really is: the market is actually doing exactly what it needs to do to build a stronger cycle ahead.

Crypto tends to bear the brunt of the selloff when macro conditions, geopolitical tensions and traditional markets turn south. Several converging factors are currently driving immense pressure on crypto markets: elevated counterparty risk, global liquidity tightening, weak technical trends, fading ETF inflows and broader stress across credit and banking markets.

But periods like this are not anomalies in digital asset markets. They are part of the larger cycle – and a sign of what’s to come for those willing to see it.

Liquidity is the dominant driver

For all the narratives around adoption, innovation and new use cases, crypto still trades primarily on global liquidity conditions. When liquidity expands, digital assets tend to rally; when it contracts, they tend to fall, often sharply.

Several forces are currently pulling liquidity out of the system. The Federal Reserve continues to run down its balance sheet, reducing the amount of capital circulating through financial markets. Seasonal tax payments are draining liquidity from the Treasury system.

A wave of technology IPOs and equity issuance is absorbing capital that might otherwise flow into risk assets. Meanwhile, a strong U.S. dollar and tighter financial conditions globally are putting additional pressure on speculative markets.

Because crypto trades on liquidity, price moves can look disconnected from fundamentals. But those moves are often the mechanism through which markets reset and prepare for the next expansion phase.

The reset cycle map

Market cycles rarely move in a straight line, and this one is unlikely to be any different. But if the current pattern holds, 2026 could unfold as a multi-step reset rather than a clean rebound. A quarterly breakdown lays this path out clearly, The early part of the year is characterized by retesting lows and broad selling pressure as leverage and speculative positioning continue to unwind. The middle of the year may bring a temporary recovery as markets stabilize and opportunistic buyers begin stepping in. It’s a multi-step reset cycle.

Volatility is likely to persist. Another correction later in the year would not be unusual as macro conditions continue to shift and investors reassess risk. Only after that process plays out does the market typically enter a more durable rally phase.

But this type of structure has appeared repeatedly across previous crypto cycles. And while the timing is never identical, the rhythm is familiar.

Why the long-term cycle remains intact

Short-term turbulence does not necessarily mean the broader cycle is broken. Indeed, there are several reasons the long-term trend for bitcoin and the digital asset ecosystem remains intact.

First, structural demand has expanded meaningfully compared with prior cycles. Institutional participation is deeper, infrastructure is stronger, and access through regulated investment vehicles has improved market reach.

Second, macro conditions are likely to evolve. Liquidity tightening rarely lasts forever. If inflation continues to moderate, the Federal Reserve could shift toward rate cuts later in the year. Historically, monetary easing has provided a powerful tailwind for risk assets.

Third, broader political and financial dynamics may also support markets. Election cycles tend to coincide with more accommodating economic policy, while stabilization in credit markets could reduce systemic risk across the financial system.

Taken together, these factors suggest the long-term trajectory for digital assets remains constructive even if the path to get there remains volatile. Bitcoin could ultimately recover toward the $100,000 range and potentially move higher by the end of 2026 if liquidity conditions improve. Downside scenarios remain possible, particularly if macro stress intensifies, but those drawdowns have historically yielded longer-term uptrends.

Positioning through the volatility

For investors, the real challenge is predicting the markets by positioning correctly across different phases of a reset cycle.

The early phase, when liquidity tightens and markets search for a bottom, typically rewards caution. That may mean running underweight crypto exposure in the early part of the year while volatility remains elevated and macro pressures persist.

But the opportunity usually emerges before the broader market recognizes it. As the year progresses and conditions begin to stabilize, investors may gradually increase exposure. By the cycle’s later stages, particularly if liquidity begins to ease, allocations may shift more aggressively, with portfolios moving overweight digital assets into a potential fourth-quarter rally.

Between those phases, market dislocations can prove fertile ground for selective investments. Distressed assets, special situations, and mispriced securities across digital assets, blockchain equities and digital corporate credit often appear during mid-cycle stress. These environments favor active strategies that can move across asset classes rather than passive exposure to a single market segment.

The key is timing exposure to liquidity conditions rather than chasing momentum after markets have already turned. Stay defensive now, get aggressive later.

A transition year, but not a record year

If this framework holds, 2026 won’t be remembered as either a classic bull year or a prolonged bear market, but as a transition year.

Markets often shake out weak hands first, forcing excess leverage and speculative positioning out of the system. That process can be uncomfortable in real time, but it plays an important role in preparing markets for the next expansion. Volatility is not just noise in financial markets – and often, it’s the very mechanism through which opportunity is created.

It’s also a year for resetting. Markets will likely stay volatile in the near term as liquidity tightens, but the investors who win will be the ones positioning before the turn, not chasing it after.

Crypto markets have never moved in straight lines. The same forces that create painful corrections often lay the groundwork for powerful recoveries. The reset underway today may ultimately be what allows the next cycle to begin.

The state of Washington has become the latest to sue a prediction markets provider, after alleging Friday that Kalshi had violated state gambling laws through its products.

According to the complaint, Washington has a tightly-regulated gambling market, including a ban on online gambling, but Kalshi’s products bypass these regulations.

“Kalshi’s website and app show consumers a range of events that they can bet on and the odds for those various events, which dictate how much the bettor will be paid out if the event occurs,” a press release from the state said. “This is exactly how sportsbooks and other gambling operations function. Kalshi advertises that they allow consumers to ‘bet on anything’ by simply calling their service a ‘prediction market’ rather than ‘gambling.’”

The lawsuit said Kalshi’s advertisements referred to “legal betting,” and alleged the company’s activities met state definitions of “gambling,” “professional gambling,” “bookmaking” and other key state provisions. It also included a provision alleging that Kalshi’s products promoted gambling addiction and targeted college students in particular.

Kalshi filed to move the case to federal court, saying it was already litigating these issues in other federal courts and that it received “no warning or dialogue” from Washington prior to the lawsuit.

Washington’s filing continues a growing state backlash against prediction market providers. Prediction market providers and their proponents, including Commodity Futures Trading Commission Chair Mike Selig, argue that these companies offer derivatives contracts that are appropriately regulated at the federal level. States have argued that these companies are offering gambling products dressed up as something else and should be subject to state gambling laws as a result.

While both prediction market providers and states have had some initial legal victories, this argument is likely to wind up before the U.S. Supreme Court, legal experts have told CoinDesk.

Nevada actions

The suit came a week after Nevada won an appeals court victory allowing it to file for a temporary restraining order against Kalshi, forcing the company to remove its sports, entertainment and election contracts from the state for at least two weeks. A hearing will be held at the end of those two weeks on Friday, April 3, at which a state judge will decide whether to extend the restriction.

Trade publication Gambling Insider reported on Friday that Kalshi’s Nevada users were still able to use the platform after the temporary restraining order went into effect.

Nevada also secured a preliminary injunction against Coinbase, requiring it to continue a pause in its prediction market offerings in the state in an order dated Thursday, March 26, following an initial temporary restraining order issued in early February.

Under Thursday’s order, Nevada District Judge for the First Judicial District Court Kristin Luis wrote that Coinbase did not dispute it offered “‘event-based contracts’ that relate to sporting and other events, including college basketball games, college and professional football games and elections,” which meet the definition of “sports pools” defined under Nevada law.

Coinbase is partnered with Kalshi, the judge noted. Like the Kalshi order, this one is ordering Coinbase not to offer sports, election or entertainment contracts in Nevada, at least until a broader court case is resolved.

The judge gave Coinbase 60 days to “make technological enhancements” to comply with the order.

Nevada and Washington’s federal district courts are both part of the Ninth Circuit Court of Appeals.

Read more: Kalshi secures license to offer margin trading to institutional investors

TLDR:

• Global M2 is pushing toward new highs, with China, Europe, and the US all recording monthly gains in money supply.
  
• China’s M2 has reached $49.96T, and its liquidity flows into global commodities, emerging markets, and risk assets.
  
• Germany and the UK have already hit record M2 levels, while Japan remains the only major economy yet to expand.
  
• Bitcoin historically follows global M2 with a three-to-four month lag, meaning current gains may not yet be priced in.

Global M2 is climbing again across the world’s six largest economies, and the data is pointing in one direction. Central banks have continued to speak about keeping policy tight, yet money supply figures tell a different story.

China, Europe, and the United States have all recorded monthly gains. Germany and the United Kingdom have reached new record levels. Japan remains the lone exception in this otherwise synchronized expansion cycle now underway.

Money Supply Data Contradicts Central Bank Messaging

The numbers across major economies reflect a clear and consistent shift this month. China leads with an M2 reading of $49.96 trillion, marking a 2.73% rise in one month. Europe follows closely at $19.4 trillion, up 2.71%, while the United States sits at $22.67 trillion, gaining 1%.

Crypto market analyst Bull Theory brought attention to this pattern in a recent post. The account stated that central banks are expanding money supply again while still maintaining that policy remains tight.

Germany and the United Kingdom have already moved past previous highs in their respective money supply readings.

M2 is a measure of the total money circulating within an economy. When that figure rises, more capital flows into financial markets and begins chasing available assets. When it falls, liquidity tightens and asset prices tend to adjust lower accordingly.

This same dynamic played out between 2020 and 2022. During the 2020–2021 period, aggressive M2 expansion drove rallies across stocks, crypto, and real estate.

The 2022 tightening cycle reversed those gains, with nearly all major asset classes correcting sharply. US M2 has since recovered and moved back to all-time highs.

China’s Liquidity Expansion Reaches Beyond Its Own Borders

China’s position in this cycle carries weight beyond its domestic market. At close to $50 trillion in M2 with continued monthly growth, China has been consistently adding liquidity to its financial system. That capital does not stay confined to Chinese markets.

Through commodities, emerging markets, and risk assets, Chinese liquidity moves into the broader global financial system.

This flow contributes to overall financial conditions across regions and tends to push capital toward higher-risk assets over time.

Bull Theory also pointed to the historical relationship between global M2 and Bitcoin specifically. According to the account, Bitcoin tends to follow global M2 movements with a lag of roughly three to four months. That pattern, if it holds, means current liquidity growth has not yet fully appeared in crypto prices.

Stocks and gold historically track alongside M2 more closely than Bitcoin does. However, all three asset classes tend to respond as liquidity conditions shift over time.

With global M2 now pushing toward new highs, market participants are watching whether this expansion follows the same pattern seen in previous cycles.

Prediction market platform Kalshi has been cleared to offer margin trading to professional clients, a move designed to make its platform more appealing to institutional investors.

The license, granted to Kalshi’s affiliate Kinetic Markets, allows it to operate as a futures commission merchant, according to a filing with the National Futures Association.

Before margin trading goes live, the company still needs a sign-off from the Commodity Futures Trading Commission (CFTC) for rule changes that would enable trading without full collateral up front.

Margin trading lets investors open positions with less upfront capital, a practice common in traditional markets but new to regulated prediction markets. Competitors, which include crypto-native prediction markets like Polymarket, do not offer margin trading and instead operate with fully collateralized positions.

Prediction markets let users bet on the outcomes of real-world events, ranging from elections to economic data releases. These have seen trading volumes explode over the last few months, while facing legal pushback from state regulators who argue that some event contracts constitute unlicensed gambling.

Still, prediction markets have continued to grow. Earlier in the month, Kalshi raised more than $1 billion in a funding round that valued the prediction market at $22 billion.

Meanwhile, the Intercontinental Exchange, owner of the New York Stock Exchange, doubled down on its investment in rival prediction market Polymarket, bringing its total commitment to nearly $2 billion.

Kalshi’s margin feature is set to debut for institutional clients only, and could be rolled out first for new products rather than for core event contracts.

Canada’s federal government has moved to ban cryptocurrency donations to political campaigns, shutting down a fundraising channel that appears to have seen little to no real-world use in the country’s previous elections.

Bill C-25, the Strong and Free Elections Act, introduced March 26, would prohibit political contributions made in BTC and other cryptoassets, as well as in money orders and prepaid payment products, grouping them as forms of funding that are difficult to trace.

The ban applies broadly across the political system, covering registered parties, riding associations, candidates, leadership and nomination contestants, and third parties engaged in election advertising.

The move comes as U.K. government has also recently announced an immediate moratorium on cryptocurrency donations to political parties, citing concerns that digital assets could be used to hide the origins of foreign money in British politics.

Second attempt

Canada’s Bill C-25 addresses a theoretical vulnerability rather than a documented problem.

Canada has permitted crypto donations since 2019 under an administrative framework that classified them as non-monetary contributions, similar to property. But no major federal party has publicly accepted crypto, and no contributions have been disclosed in either the 2021 or 2025 elections.

Under the 2019 framework, contributions were not eligible for tax receipts, a significant disincentive in a system where donors routinely claim credits.

Contributors of more than $200 had to be publicly identified by name and address. Only cryptocurrencies with verifiable public blockchains qualified — privacy coins such as Monero or ZCash were excluded. Candidates had to liquidate holdings into fiat before spending.

Yet the Chief Electoral Officer (CEO) grew increasingly uncomfortable with the arrangement.

In a June 2022 post-election report, the CEO recommended adopting tighter rules for crypto contributions, including eliminating a provision that deemed contributions of $200 or less from non-professional sellers to have nil value, effectively exempting them from the regulated financing regime.

By November 2024, the CEO’s position had shifted from regulate to prohibit, recommending an outright ban on the grounds that cryptocurrency’s pseudo-anonymity creates transparency challenges and that contributor identification is “fundamentally difficult.”

Bill C-25 is the second attempt to enact a crypto donation ban. Its predecessor, Bill C-65, contained identical provisions but died when Parliament was prorogued in January 2025.

The new bill gives recipients 30 days to return, destroy, or convert and remit any crypto contributions received in violation of the ban, with proceeds forwarded to the Receiver General. Maximum administrative penalties reach twice the value of the offending contribution, plus $100,000 for corporations.

In the United States, the Federal Election Commission provides guidance on how to properly disclose BTC and other crypto donations to campaigns. Crypto donations have been permitted in the U.S. since 2014.

Canada’s bill is currently at first reading in the House of Commons.