Crypto World
Cboe’s latest move could make trading as simple as a ‘yes or no,’ rivalling prediction markets
Cboe Global Markets confirmed that it is developing a new options-based product offering all-or-none payouts, a structure that could put the exchange in direct competition with prediction markets like Polymarket, Kalshi, Robinhood and Coinbase.
Cboe, the primary venue for options trading and famous for creating the Cboe Volatility Index (VIX), is in early talks with brokerages and market makers about how the product would work, according to an earlier WSJ report.
While details are still being finalized, the goal is to use a traditional options wrapper to deliver fixed-return outcomes on yes-or-no style event contracts, a person familiar with the situation told CoinDesk.
These types of derivatives — sometimes referred to as binary options or fixed-return contracts — allow traders to wager on whether a specific event will occur. If the event happens, the contract pays out a fixed cash amount. If not, it settles at zero. That payoff structure mirrors the mechanics of prediction markets, where users bet on everything from central bank moves to election results.
Cboe is no stranger to binary-style options. In 2008, the exchange launched binary call options tied to the S&P 500 and the Cboe Volatility Index (VIX), allowing traders to bet on whether those indexes would close above a certain level. But the products struggled to gain traction and were eventually delisted.
This new initiative, however, is not intended as a direct relaunch of those earlier instruments, the person told CoinDesk. Instead, Cboe appears to be exploring ways to modernize the concept and appeal to a broader base of retail and institutional users. A key focus is delivering a better end-user experience, possibly with more intuitive market access or clearer contract terms.
If launched, the offering could carve out space in a fast-growing segment of the derivatives market. Platforms like Kalshi, a CFTC-regulated venue, already offer event-based contracts on macroeconomic outcomes. Polymarket, operating on a blockchain, has seen surging volumes during election cycles and high-profile geopolitical events. Coinbase (COIN) also recently launched prediction markets trading on its platform in partnership with Kalshi.
The exchange has not yet confirmed a timeline, and it remains unclear which specific events or outcomes the contracts would target.
US Senator Tim Scott says he is expecting a possible compromise this week on a stablecoin yield payments provision that has stalled a crypto market structure bill in the Senate.
“I believe that this week we will have the first proposal in my hands to take a look at,” Scott, the chair of the Senate Banking Committee that is working to advance the bill, said on Tuesday at a crypto lobby event in Washington, D.C.
“If that actually happens before the end of this week, and I think that it will […] I think we’re going to be in much better shape,” he added.
The Senate has been looking to advance its version of a crypto market structure bill that outlines how regulators will approach crypto after the House passed similar legislation in July, called the CLARITY Act.
The Senate’s bill has stalled amid negotiations between banking and crypto lobbyists over a provision in the legislation that would ban third parties from offering stablecoin yield payments.
Banking groups assert that stablecoin yields paid by platforms such as crypto exchanges are a loophole in the GENIUS Act, which banned yield payments from stablecoin issuers, and could threaten the stability of the banking system through deposit flight.
As stablecoin yield payments are a popular way for exchanges to entice customers, crypto lobbyists have fought the claims and accused the banks of anti-competitive behavior.
Other issues in bill also making progress
Scott said the issue of stablecoin yield was only the “largest publicly celebrated challenge” of the bill, but other issues under negotiation included provisions around ethics, decentralized finance, and “who is carved in and who is carved out” of the rules.
“Those issues seem to pale in comparison to the rewards issue, but they’re still very important outstanding issues that we are nibbling away at as we work on the more popular issue of rewards and yield,” he added.
Related: CLARITY Act risks handing crypto to centralized players: Gnosis exec
“We have made a lot of progress over the last probably 30 days or so,” Scott said. “We’re working on a lot of issues, but every single day it feels like the big momentum is finally on our side and we’re heading in the right direction.”
Procedural rules mean two committees are overseeing crypto market structure legislation in the Senate, as the bill concerns the Securities and Exchange Commission and the Commodity Futures Trading Commission.
Senate Banking, which oversees the SEC, indefinitely postponed a markup of the crypto bill in January, while the Senate Agriculture Committee, which oversees the CFTC, sent its markup of the bill to the Senate floor that same month.
Magazine: Quitting Trump’s top crypto job wasn’t easy: Bo Hines
On March 16, hourly inflows into centralized crypto venues spiked to 6,100 units, the highest level in over a month as a broad market rally took hold. Data compiled for the period show that larger transfers dominated the flow, comprising 63% of total inflows—the strongest share dating back to mid-October 2025. The surge in exchange deposits comes as the leading digital asset has advanced roughly 12% for the month, with intraday prints approaching six-week highs near 76,000 in mid-March. Traders frequently move funds to exchanges in anticipation of selling or swapping into stablecoins, a pattern that market participants watch closely for signs of distribution when price momentum wavers.
CryptoQuant’s analysis highlighted that the spike included a notable rise in the share of large inflows, a behavior historically linked to selling pressure. These on-chain dynamics add a layer of nuance to the ongoing rally, suggesting that even as prices push higher, there could be a growing readiness among market participants to monetize gains. The data, reported by Julio Moreno, the head of research at CryptoQuant, underscore the choppy balance between demand and potential supply as the market navigates macro uncertainty and cross-asset risk sentiment. CryptoQuant
Beyond the on-chain signal, the price landscape remains a focal point for traders. Bitcoin’s price action has driven the market to a roughly 12% gain for March, with the asset trading near multi-month resistance levels. In recent days, the market has flirted with a six-week high around $76,000, a level that has proven challenging to break on several attempts. Market observers point to the Realized Price, a measure of the average price at which active supply transacted, as a proxy for potential resistance. The Realized Price currently sits in the neighborhood of $84,700, with the lower band—where many traders previously found concrete resistance during bear phases—acting as a rough guide for possible price ceilings in the near term. This dynamic was evident as the price repeatedly tested the $75,000 area on Coinbase, finding resistance at each try in a short span of time. TradingView data corroborate the near-term challenge around that psychological threshold.
Amid the price action, traders are keenly watching the Federal Reserve’s policy trajectory. The forthcoming Fed meeting, scheduled for Wednesday, sits at the center of market expectations, with many participants pricing in no interest-rate changes for March. CME Group’s FedWatch tool showed a high probability—about 98.9%—that the federal funds rate will remain unchanged, with only a 1.1% chance of a hike. The market’s attunement to the Fed reflects a broader risk-off risk-on mood that often drives crypto liquidity and ETF flow dynamics in tandem with macro cues. As coverage in traditional outlets highlights, a hawkish or cautious stance from the central bank could alter risk appetite across assets, including cryptocurrencies. CME FedWatch data and related market commentary underscore the tightrope between growth worries and inflation concerns that has defined the current regime.
In context, the rally’s momentum appears fragile, and the on-chain signals—while pointing to ongoing demand—also warn of potential distribution if large holders decide to realize gains as headline risk shifts. The price vicinity around $75,000 remains a key focal point; if the asset can push above this zone, it could test the next band near the realized price level, although history shows the lower RP band can act as a stubborn resistance in bear-market cycles. Traders are therefore weighing whether the current flow pattern represents a temporary flush of liquidity to exchanges or the onset of a broader reallocation into longer-term holdings or other assets, including stablecoins.
Why it matters
For investors, the observed spike in exchange inflows—especially with a rising share of large transfers—serves as a reminder that on-chain activity does not always align with short-term price strength. If sellers emerge from notable exchange deposits, price weaknesses could follow, even in a currently constructive market backdrop. The Fed’s rate stance, coupled with macro headlines, can influence liquidity and risk sentiment, which in turn shapes how and where capital flows. For market builders and liquidity providers, monitoring the balance between on-chain realized prices and exchange inflows could offer early clues about shifts in supply-demand dynamics and potential volatility around key technical levels.
From a macro perspective, the interplay between monetary policy expectations and crypto price action remains a critical driver of flows and risk tolerance. The Fed’s decision on Wednesday—alongside ongoing inflation readings and geopolitical developments—will likely set the tone for near-term momentum. Traders keeping a close eye on the on-chain data and the official communications should be prepared for rapid shifts in sentiment, especially if the Fed signaling strengthens or weakens the case for rate cuts later in the year.
What to watch next
- Federal Reserve decision and accompanying statement (Wednesday): assess any changes to forward guidance and inflation outlook.
- Next batch of on-chain data from CryptoQuant: watch for shifts in the share of large inflows versus overall inflows and any corroborating metrics on exchange net flows.
- Price action around the $75,000 level and the realized price vicinity near $84,700: look for breakout or rejection patterns and volume confirmation.
- Market reaction to Fed commentary: observe risk appetite shifts that could impact liquidity, ETF flows, and spot market participation.
Sources & verification
- CryptoQuant insights on exchange inflows and the share of large inflows for March 16–17, including the 63% figure.
- CME FedWatch tool data on the probability of rate hold versus hike.
- Associated Press reporting on Fed policy expectations and inflation considerations in the current environment.
- Cointelegraph market coverage discussing Bitcoin’s price around $70k and near-term resistance levels.
- TradingView BTCUSD data for price action on Coinbase as a reference for breakout and resistance testing.
Bitcoin exchange flows rise ahead of Fed decision; on-chain signals warn of selling pressure
Bitcoin (CRYPTO: BTC) exchange flows surged ahead of the Federal Reserve’s policy decision, with on-chain data indicating a potential tilt toward distribution despite a broader rally. On March 16, centralized exchanges recorded inflows totaling 6,100 coins—the highest since February 20—according to CryptoQuant. A closer breakdown shows large transfers dominating the flow, making up about 63% of total inflows, the strongest proportion observed since October 2025. These signals emerge as the asset has climbed roughly 12% in March, drawing near $76,000 in intraday trading on March 17. The behavior of inflows and on-chain metrics has historically foreshadowed price dynamics, and traders are weighing whether the current momentum can be sustained or whether a wave of selling could emerge as participants seek risk-adjusted gains. CryptoQuant notes the potential for selling pressure when large deposits to exchanges spike, a pattern that has played out in past cycles.
The price backdrop remains a mix of resilience and caution. After a month characterized by a steady ascent, the asset touched six-week highs near $76,000, underscoring renewed risk appetite among investors. Yet the on-chain Realized Price, which represents the average break-even price for active holders, sits well higher at approximately $84,700. This creates a ceiling effect, as the current price remains below the lower band of the realized-price metric, a zone historically associated with resistance during bear-market phases. Market data from TradingView show the asset testing the $75,000 mark on Coinbase multiple times in the past 24 hours, underscoring the psychological and technical significance of that level.
The broader market is anchored by expectations around the Federal Reserve’s policy stance. CME FedWatch data indicated a near-ceremonial stance for the March meeting, with markets pricing in a substantial probability of no rate change. The implications of the Fed’s decision—or even its language around rate paths—could influence liquidity cycles across crypto markets, where ETF interest, spot demand, and derivative positioning interact with macro risk sentiment. Associated Press reporting on the Fed’s trajectory highlights ongoing inflation concerns and the possibility that the central bank could refrain from rate cuts in the near term, a scenario that could shape risk-on versus risk-off temperament in the weeks ahead. CME FedWatch Associated Press
Looking forward, the market will likely calibrate its expectations around the Fed’s guidance and the pace of any potential policy normalization. Should the Fed acknowledge persistent inflation risks while signaling a cautious path, traders could see continued volatility as liquidity shifts between risk assets. Conversely, a more accommodating read could sustain the current momentum, allowing the rally to extend and on-chain inflows to reflect renewed demand rather than distribution. The next few sessions will be telling, as investors parse macro cues against the backdrop of on-chain indicators that have in the past proven prescient about fundamental shifts in supply and demand.
The joint decision is historic, but what does it mean specifically for your crypto portfolio?
For years now, the entire cryptocurrency industry has operated under a fog of regulatory uncertainty. Investors and developers alike were wondering which crypto asset the U.S. government might suddenly decide to classify as an unregistered security. Take Ripple’s XRP, for instance – one of the most obvious examples. The company was tangled in a prolonged lawsuit with the Securities and Exchange Commission, which lasted roughly half a decade, casting the shadow of ambiguity over an entire cohort of investors.
That era, however, effectively ended on March 17th, when the SEC, together with the Commodity Futures Trading Commission (CFTC), issued a landmark joint interpretive guidance.
The core takeaway, stated by the Chairman of the SEC, Paul Atkins, represents a true paradigm shift:
Most crypto assets are not themselves securities. – He said.
But while significant and historic, what does it all mean for the regular Joe? Here is a breakdown of what this decision means for your crypto portfolio, your staking yields, and your airdrops.
Staking and Airdrops: The Rules of Engagement
Staking and airdrops are perhaps two of the more common ways many retail crypto investors participate in decentralized networks. They have also historically been some of the biggest legal gray areas. The new joint guidance draws some clear and actionable lines for both of these.
First things first, for staking, the regulatory status would now depend on the structure of operation. If you are participating in protocol-level staking (read: locking up your tokens in order to secure a blockchain network like Ethereum, for example, and earning automated and pre-determined protocol rewards), this particular activity would generally fall outside of the scope of securities laws.
However, if you use a centralized, third-party service that pools investor funds and then promises a return based on its own managerial efforts, chances are regulators will still classify that yield product as a security (an investment contract).
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Moving on to airdrops. These face a relatively similar test depending on context. Tokens that are distributed freely to a community, without requiring a financial investment or promising future profits based on the centralized team’s efforts, are currently a lot less likely to be classified as securities. On the other hand, if the airdrop is advertised and used explicitly to promote an investment opportunity, promising future returns based on the team’s efforts, it may still draw the scrutiny of the SEC.
A New Taxonomy for Digital Assets
If you’ve been around in crypto for a while, you know that there’s been an overlapping jurisdictional battle that has simply plagued the industry for years. The new joint guidance establishes a formal token classification framework. This taxonomy categorizes digital assets into distinct groups.
- Digital Commodities: These fall primarily under CFTC jurisdiction and concern assets that function primarily as a decentralized medium of exchange or store of value.
- Digital Collectibles: These are unique digital items and non-fungible tokens (NFTs).
- Digital Tools: These are utility tokens used to access or operate software applications or networks.
- Stablecoins: Digital assets pegged to fiat currencies.
- Digital Securities: Tokens that represent traditional investment contracts, equity, or profit-sharing agreements.
Essentially, by effectively separating the underying digital asset from the transaction itself, both regulators have provided a rather coherent roadmap for developers to build networks that are compliant without the constant fear of arbitrary enforcement.
Conclusion: What the SEC/CFTC’s New Guidance Means for Your Crypto
For everyday crypto investors, this guidance is a massive de-risking event. The Chairman of the CFTC said that the goal is to further foster an environment where the entire industry can flourish with “clear and rational rules of the road.”
Speaking practically, this means that major altcoins are much less likely to face sudden delistings from U.S. exchanges due to unexpected regulatory lawsuits or even the fear of them.
Moreover, it paves the way for a robust integration of digital assets into traditional finance – something that we have already seen starting to take shape. Recall that Mastercard enlisted Ripple, Binance, and other firms in a new crypto partnership, seeking to further integrate crypto into mainstream commerce.
Of course, the decision doesn’t necessarily guarantee the market success of any individual token, but at the very least it removes the heavy regulatory overhang that has suppressed US-based crypto markets (and arguably globally) for years.
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XRP (XRP) is trading just above a level heavily targeted by derivative traders, making it a critical zone for near-term price action.
The payments-focused cryptocurrency changed hands at around $1.50 at press time, placing just above a notable concentration of options activity at $1.40 on crypto exchange Deribit. XRP is used by Ripple to facilitate cross-border transactions.
Options are derivatives contracts whose value is derived from an underlying asset, in this case XRP. They give traders the right, but not the obligation, to buy or sell XRP at a specific price (known as the strike) before a set expiry date. Call options are typically used to bet on upside, while put options are used to hedge or speculate on downside.
As of writing, about $6.95 million worth of call option positions were open at the $1.40 strike, alongside $7.69 million in put positions at the same level. In total, that brings the value of outstanding or “open” contracts at this strike to roughly $14.6 million, or nearly 25% of all XRP options open on the exchange. Most of this open interest in concentrated in the March 27 expiry.
CoinDesk reached out to Deribit for a comment on the same.
This kind of clustering at a single strike is unusual and typically signals that the market is approaching a key inflection point.
As expiry approaches, this level may act as a magnet or gravitational price zone. Market makers, and traders who sold options at $1.40 and are “short gamma” could dynamically hedge their exposure, potentially pulling the price toward the strike. This phenomenon is widely referred to as “pinning.”
This concept is common in currency markets, where major currency pairs like EUR/USD often gravitate toward large strikes as expiry nears.
Traders, therefore, need to watch $1.40 level closely in the days ahead. A sustained move above it could leave much of the put-side open interest to expire worthless, while a drop below it could trigger hedging flows that amplify selling pressure.
Either way, the heavy concentration of options at this strike suggests that XRP’s short-term price action could be heavily influenced by how this open interest unwinds or gets settled.
Centralized crypto exchanges recorded a spike in Bitcoin hourly inflows on Monday as the crypto market rallied, with one analyst warning it could signal selling pressure.
Hourly Bitcoin flows into exchanges spiked to 6,100 BTC on March 16, the highest since Feb. 20, reported head of research at CryptoQuant, Julio Moreno, on Tuesday.
He added that the share of large inflows reached 63% of total inflows, which is the highest since mid-October 2025.
It comes as Bitcoin has rallied around 12% so far this month, hitting a six-week high of around $76,000 on March 17.
Traders often send Bitcoin (BTC) to exchanges in preparation to sell or exchange for stablecoins.
“Historically, spikes in large deposits to exchanges have been associated with increased selling pressure,” the analyst noted.
Fed may signal no rate cuts this year
The spike in exchange inflows comes just days before the Federal Reserve’s meeting and rate decision on Wednesday, which can have an impact on crypto sentiment.
However, markets have priced in no changes to the US interest rate this month, with CME futures predicting a 98.9% probability of them remaining the same and only a 1.1% chance that they will be increased.
Related: Trump ups pressure for Fed chair Powell to cut rates ‘right now’
The Fed could even signal no interest rate cuts at all this year in the wake of the US-Iran war and increasing inflation concerns, reported the Associated Press on Wednesday.
Bitcoin realized price resistance at $75,000
Moreno also noted that if Bitcoin continues to rally, it could first find resistance at $75,000.
“These levels represent the lower band of the traders’ onchain Realized Price, which historically acts as price resistance in bear markets,” he said.
The asset came just shy of $75,000 three times on Coinbase over the past 24 hours and hit resistance each time, according to TradingView.
The actual Realized Price, or the average break-even price for active traders, which acted as resistance in October and January, is currently around $84,700.
Magazine: Metaplanet’s Japan Bitcoin bet, Bithumb ordered suspension: Asia Express
The US Securities and Exchange Commission has cleared up longstanding ambiguity about how crypto assets should be treated.
The SEC issued an interpretation on Tuesday clarifying how federal securities laws apply to certain crypto assets and transactions involving cryptocurrencies.
This is a “major step in the Commission’s efforts to provide greater clarity regarding the treatment of crypto assets,” it stated. The guidance also “complements Congressional endeavors to codify a comprehensive market structure framework into statute.”
The Commodity Futures Trading Commission (CFTC) also joined the interpretation, confirming that it will apply the Commodity Exchange Act to crypto assets.
SEC: Cryptos Are Not Securities
The interpretation establishes a token taxonomy covering five categories: digital commodities, digital collectibles, digital tools, stablecoins, and digital securities.
The key takeaway is that most crypto assets are not classified as securities, which is the opposite of the previous Administration’s stance on them. SEC Chairman Paul Atkins stated:
“It also acknowledges what the former administration refused to recognize – that most crypto assets are not themselves securities.”
“After more than a decade of uncertainty, this interpretation will provide market participants with a clear understanding of how the Commission treats crypto assets under federal securities laws,” he added.
After more than a decade of uncertainty, this interpretation will provide market participants with a clear understanding of how the SEC treats crypto assets under federal securities laws.
This is what regulatory agencies are supposed to do: draw clear lines in clear terms. https://t.co/wij5cA7N2i
— Paul Atkins (@SECPaulSAtkins) March 17, 2026
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“For far too long, American builders, innovators, and entrepreneurs have awaited clear guidance on the status of crypto assets under the federal securities and commodity laws,” said CFTC Chairman Michael Selig.
“With today’s interpretation, the wait is over. Chairman Atkins and I are committed to fostering a regulatory environment that allows the crypto industry to flourish in the United States with clear and rational rules of the road.”
It also provides guidance on common crypto activities that have long existed in a legal gray zone, including airdrops, mining, staking, and asset wrapping.
Both Atkins and Selig framed this as a “bridge for entrepreneurs and investors” while Congress works on broader bipartisan market structure legislation.
“This is the biggest move toward legitimacy I’ve seen in all my time in crypto. Maybe bigger than the genius act since it covers all crypto assets,” commented crypto investor Ryan Sean Adams.
No Crypto Market Reaction
It seems that positive regulatory developments fail to move markets these days, as spot markets actually retreated by 1% over the past 24 hours.
Bitcoin tapped $74,800 three times over the past 12 hours or so but failed to break through, falling back to $74,350 at the time of writing.
Ether prices were tightly rangebound over the past 24 hours, trading at $2,333 on Wednesday morning in Asia.
The altcoins were a mixed bag, with gains for Tron and Hyperliquid, and losses for XRP, Stellar, and Canton.
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US Securities and Exchange Commission Chair Paul Atkins has proposed a “safe harbor” framework aimed at easing regulatory pressure on crypto firms while keeping them within the federal oversight structure.
Summary
- SEC Chair Paul Atkins proposes safe harbor exemptions to allow crypto firms to raise capital under defined regulatory pathways.
- Framework includes startup and fundraising exemptions, along with conditions for when tokens may fall outside securities laws.
Speaking at the DC Blockchain Summit in Washington, Atkins said, “such a safe harbor would provide crypto innovators bespoke pathways to raise capital in the US, while providing appropriate investor protections.”
Calls for similar safe harbor measures have previously been put forward by SEC commissioner Hester Peirce, who has long advocated for a tailored approach that gives crypto projects time to develop before being subject to full securities regulation.
Atkins proposed a “fit-for-purpose startup exemption” targeting early-stage projects, which would allow developers to raise limited capital without full securities registration before they are subject to standard compliance requirements.
He said the provision would give projects a “regulatory runway” to develop their networks before facing the full weight of compliance requirements.
To qualify, firms would need to provide “principles-based disclosures” through public channels, a model that aligns with the industry’s practice of publishing white papers and technical updates.
His proposal also outlines a “fundraising exemption” for more established projects.
This way, issuers would be able to raise up to $75 million within a 12-month period, while meeting more structured disclosure requirements, including financial documentation.
Further, Atkins introduced an “investment contract safe harbor,” aimed at addressing when a token should no longer be treated as a security.
“This safe harbor could apply once the issuer has completed or otherwise permanently ceased all essential managerial efforts that the issuer represented or promised that it would engage in under the investment contract,” Atkins said.
The provision looks to bring more certainty to how tokens are assessed as projects move toward decentralised structures.
According to Atkins, the SEC will soon put forward draft rules for public consultation, though he added that “only Congress can ensure that regulation in this area is future-proofed through comprehensive market structure legislation.”
The SEC chair’s comments came as the SEC and the Commodity Futures Trading Commission issued a joint interpretation outlining how crypto assets should be classified under federal law.
Atkins has clarified that “only one crypto asset class remains subject to the securities laws,” identifying it as “traditional securities that are tokenized.”
As covered by crypto.news, the SEC is also seeking public feedback on proposed changes to Rule 15c2-11, which would limit broker-dealer reporting requirements in over-the-counter markets to equity securities, easing concerns that the rule could extend to crypto assets.
The number of whale wallets holding more than one million of US President Donald Trump’s memecoin has surged to a five-month high after announcing a luncheon at his Florida home for top holders last week.
There are now 83 wallets holding more than 1 million TRUMP (TRUMP) (equating to $3.7 million), making it the highest showing for the memecoin since Oct. 8 last year, Santiment said in an X post on Monday.
The luncheon with Trump is set for April 25 at his Mar-a-Lago residence in Florida, according to the Trump team. The top 297 token holders are invited, with the top 29 eligible for a private reception with the president, subject to passing background checks.
In the days following the luncheon announcement, TRUMP rose by more than 50% to hit a peak of $4.35. As of Wednesday, TRUMP is up 27% over the last seven days and trading at $3.71.
Dominick John, an analyst with Zeus Research, told Cointelegraph the Mar-a-Lago event, which offers access to the US president, is acting as a powerful catalyst for accumulation.
Crypto data analytics platform CoinCarp lists 642,882 TRUMP holders, with over 91% of the supply concentrated among the top 10 and over 97% among the top 100. At the first event for TRUMP token holders last year, Tron founder Justin Sun was the largest tokenholder.
John also points to other guests, such as Tether CEO Paolo Ardoino, who is scheduled to speak and attend the luncheon, as potential drivers of user interest.
“Momentum is driven by narrative-led flows and whale positioning,” he said.
“The presence of Paolo Ardoino from Tether at this event hints at potential ecosystem announcements, providing a real catalyst. His appearance could transform the gala into a progress showcase for the TRUMP token,” John added.
TRUMP spiked in lead up to last year’s gala
Trump held his first “crypto gala” dinner last year in May 2025, a few months after his Jan. 20 inauguration as US president.
It was limited to the top 220 TRUMP token holders and included crypto executives such as Hyperithm CEO Sangrok Oh, as well as anonymous and pseudonymous crypto traders like Cryptoo Bear, and sports stars like NBA champion Lamar Odom.
The event’s announcement a month earlier, on April 23, saw the token peak at $15.59 on April 25. However, the token began to gradually fall from that point. It fell to $14.51 on May 22, the day of the dinner, then gradually dropped to $12.46 a week later and $8.90 a month later.
John said it’s likely the coin would follow a similar trajectory after the upcoming luncheon concludes in April.
“Historically, Trump events show an announcement-driven hype phase followed by a gradual post-event downtrend. This event will follow a similar trajectory, unless new developments are unveiled around this event.”
US lawmakers look to limit memecoin profits by politicians
US senators and former staffers protested outside the event last year, while Democratic lawmakers have also introduced bills to limit political influence and profits from memecoins.
Related: SEC will consider most crypto assets not securities under federal law
The Modern Emoluments and Malfeasance Enforcement (MEME) Act was introduced in February 2025 to prevent federal officials from using their positions to profit from memecoins. It’s currently in the Committee stage and hasn’t progressed to a vote in either the House or Senate.
Meanwhile, the Stop Presidential Profiteering from Digital Assets Act aims to make it illegal for federal officials to issue, promote, or sell digital assets, such as memecoins. The similar Curbing Officials’ Income and Nondisclosure (COIN) Act has also failed to advance since its introduction last year.
Magazine: Clarity Act risks repeat of Europe’s mistakes, crypto lawyer warns
For years, decentralized finance has promised a future where anyone can access powerful financial tools without intermediaries. But let’s be honest—actually using DeFi still feels like piloting a spaceship with a blindfold on.
Multiple tabs. Endless approvals. Slippage anxiety. Gas fees lurking like jump scares.
Now imagine this instead:
“Swap my ETH for the best possible yield strategy with low risk.”
And… that’s it.
No charts. No routing decisions. No manual execution.
Welcome to the world of Intent-Based DeFi—where you define what you want, and the protocol figures out how to get it done.
What Is Intent-Based DeFi?
Intent-Based DeFi flips the traditional model on its head.
Instead of manually executing transactions step-by-step, users simply declare their intent—a desired outcome. Behind the scenes, a network of solvers, bots, or protocols competes to fulfill that intent in the most efficient way possible.
Think of it like this:
-
Old DeFi: You drive the car (and probably crash a few times)
-
Intent-Based DeFi: You set the destination, and an expert driver handles the route
How It Works (Without the Headache)
At its core, intent-based systems rely on three key components:
1. User Intent
You specify a goal:
-
“Swap 1 ETH to USDC at the best rate.”
-
“Earn yield with minimal impermanent loss.”
-
“Bridge funds to another chain cheaply and fast.”
2. Solvers (Execution Engines)
These are sophisticated actors—bots, market makers, or protocols—that compete to fulfill your request.
They:
-
Search across liquidity sources
-
Optimize routing
-
Minimize fees and slippage
-
Bundle transactions efficiently
3. Settlement Layer
Once the best solution is found, the transaction is executed trustlessly on-chain.
You get the result. No micromanagement required.
Why This Is a Big Deal
Let’s not sugarcoat it—manual DeFi is inefficient.
Intent-based systems fix some of the biggest pain points:
🧠 Less Complexity
No more juggling between DEXs, bridges, and yield farms.
⚡ Better Execution
Solvers optimize trades better than most humans ever could.
💸 Lower Costs
Bundled execution reduces gas fees and slippage.
🔒 Reduced Risk
Fewer manual steps = fewer chances to mess up (we’ve all been there).
Real-World Use Cases
This isn’t just theory—it’s already happening.
🔄 Smart Swaps
Instead of choosing between Uniswap, Curve, or aggregators, you simply request the best swap—and let the system handle routing.
🌉 Cross-Chain Transactions
Say goodbye to manually bridging assets. Just specify where you want your funds, and the protocol handles the journey.
📈 Automated Yield Strategies
Users can express goals like:
“Maximize yield on stablecoins with low volatility”
The system allocates funds dynamically across strategies.
The Hidden Power: MEV Optimization
Intent-based DeFi also has a surprising advantage—it can reduce the damage from MEV (Maximal Extractable Value).
Instead of exposing your transaction to bots that exploit it, solvers compete to give you the best outcome. That flips MEV from a tax into a potential benefit.
In other words:
The predators become service providers.
Challenges (Because Nothing Is Perfect)
Before we declare the death of manual trading, there are still hurdles:
⚠️ Trust in Solvers
Even with decentralized systems, users rely on third parties to execute intents correctly.
🔍 Transparency
Complex routing and execution can feel like a black box.
🧩 Standardization
Different protocols are building their own intent systems—interoperability is still evolving.
So… Is Manual Trading Dead?
Not quite.
Power users, arbitrageurs, and degens who love tweaking every parameter will still want full control.
But for the vast majority?
Manual trading is starting to look like:
-
Dial-up internet
-
Flip phones
-
Or sending faxes in 2026
Intent-based DeFi isn’t just an upgrade—it’s a paradigm shift.
Final Thoughts
The real promise of DeFi was never about complexity—it was about access.
Intent-based systems bring us closer to that vision by abstracting away the technical friction and letting users focus on outcomes, not processes.
Soon, interacting with DeFi might feel less like coding…
and more like making a request.
“Grow my portfolio safely.”
And the system simply replies:
“Done.”
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Meta Platforms will shut down its Horizon Worlds metaverse for virtual reality users in June, pivoting to a mobile-only experience as it retreats from the aggressive metaverse push it championed just five years ago.
Consumers will no longer be able to build, publish, or update virtual reality worlds, or access the Horizon Worlds metaverse on Meta Quest headsets, from June 15, the company said in a Tuesday blog post.
Horizon Worlds launched in late 2021 as a VR-only, online multiplayer platform where users can build and publish virtual environments and games, and interact with others as avatars.
However, Meta reportedly started to experiment with Horizon Worlds as a mobile platform in 2025, according to Samantha Ryan, the VP of content at Reality Labs, who said in February it would be “shifting the focus of Worlds to be almost exclusively mobile.”
Horizon Worlds’ competitors, such as Fortnite and Roblox, which attract 1.3 million and 144 million daily active users, respectively, operate on PC, console, and mobile platforms. Fortnite has never officially developed its game for VR, while Roblox has offered a VR app since July 2023, though not all worlds are VR-compatible.
Meta’s decision to refocus Horizon Worlds comes just five years after Meta CEO Mark Zuckerberg pivoted the company towards the metaverse, even changing its name from Facebook to Meta. Those ambitions, however, have not translated into profits for the firm.
Reality Labs racks up $80 billion in losses since 2020
Meta’s Reality Labs division racked up a record $6 billion in losses for the fourth quarter of 2025, and cumulative losses for its metaverse division total almost $80 billion since 2020.
In January, Meta eliminated 1,000 jobs from Reality Labs while shuttering some of its virtual-reality game and content studios.
At the time, Reality Labs chief technology officer Andrew Bosworth said the company would primarily focus on mobile experiences instead of fully immersive virtual worlds accessed via headsets.
Related: Big Tech signs Trump pledge to cover their own AI energy costs
Meanwhile, Meta stock jumped 3% on Monday following a speculative Reuters report on Friday claiming that the company is “planning sweeping layoffs” that could affect 20% or more of its workforce. The move would reportedly offset spending on AI infrastructure and augmented-reality wearables.
A Meta spokesperson told CNBC that this was a “speculative report about theoretical approaches.”
It would, however, play into a broader trend of tech firms axing staff to focus on AI.
Metaverse tokens have melted
The blockchain-based metaverse was once also a talking point in the crypto industry in 2021, but has since faded into obscurity along with many other trends that have been eclipsed by the latest AI hype.
Major blockchain-based players such as Axie Infinity (AXS), The Sandbox (SAND), and Decentraland (MANA) have all seen their respective tokens tank between 98% and 99% from their all-time highs in November 2021, according to CoinGecko.
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