Crypto World
In conversation with Inteliumlaw’s Elena Sadovskaya
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Elena Sadovskaya reflects on how experience and shifting crypto regulation shape Inteliumlaw’s hands-on, long-term legal approach.
Summary
- Elena’s early experience at a Big Four firm shaped a practical, hands-on approach to complex cross-border structuring and high-stakes regulatory work.
- Inteliumlaw’s growth has been driven by MiCA-era demand, with CASP licensing and EU-compliant token listings becoming core client needs in 2025.
- Elena sees crypto’s future defined by adaptation: firms that treat regulation as a strategic framework, not an obstacle, are the ones built to last.
Navigating international business structuring in today’s regulatory climate is rarely straightforward, especially for companies operating across borders and emerging sectors like crypto. To better understand how legal professionals approach this complexity in practice, we spoke to Inteliumlaw’s Elena Sadovskaya about how her early experience studying law and later working at Ernst & Young shaped her thinking. Here’s what she had to say.
Hi Elena! Can you share with us how your experience practicing law during the 2nd year of university and later working at a firm like Ernst & Young influenced the way you approach complex international business structuring today?
Elena: Spending almost 4 years at a Big 4 company, Ernst & Young (E&Y), has truly felt like the equivalent of a whole 10 years at most other consulting firms. During this period, I frequently managed multiple tax and transaction structuring projects in parallel for major international clients across a range of industries. Every time it was working with significant deals, large transactions, and high-profile cases, which all allowed me to develop a strong grasp of how large businesses work and what their legal needs are. Most importantly, however, it all sharpened my understanding of how lawyers can guide them through different situations – be it shifting laws at home base, international scaling, heightened regulator attention, or other complex challenges – with tailored solutions.
Now, for Inteliumlaw, neither “impossible” nor “unresolved” cases are part of our vocabulary. With hands-on experience as lawyers for major firms and high-profile cases, we have the necessary know-how to provide robust support for enterprises and also help small businesses eventually grow into larger organizations.
At Inteliumlaw, we uphold the highest standards of work in everything we do, based on our experience with large, sophisticated businesses and a clear understanding of the level of quality they expect and shall get from legal advisers. A core part of these standards is a genuinely responsive attitude to projects we work with, where my overtime experience at E&Y showed how far a law firm must go so that the project gets the desired quality. Today, this enables us to effectively advise on complex international business structuring and other critical legal matters.
In a recent big interview, you shared that Inteliumlaw grew from a small circle of experts to a full-fledged law firm specializing in crypto licensing and other blockchain legal services. What new services or solutions did you introduce in 2025? Which ones have become “bestsellers” among your clients in crypto?
Elena: Last year was extremely fast-paced for all of us at Inteliumlaw. As regulations continued to evolve, we expanded and diversified our legal solutions to meet the demands of modern businesses.
For the crypto sector, we introduced an opportunity to obtain a CASP license in a select few jurisdictions like Poland, the Czech Republic, Lithuania, Cyprus, and beyond. These countries’ licensing conditions went through our rigorous internal analysis and were deemed the most favorable and relevant after MiCA entered into force and replaced the legacy VASP license. In parallel, our scope has expanded to include DAO structuring in the Marshall Islands and RAK, a foundation in Panama, alongside securing a crypto license in UAE (Dubai, VARA), El Salvador, and other markets where a VASP license currently presents a meaningful opportunity. Our website is being gradually updated to reflect the complete range of services we can support you with.
When it comes to “best sellers,” it is hard to highlight something in particular as the answer largely lies in regulatory development, including newly emerged regimes, shifts in current rules, and the scale of adaptation expected from businesses. This year, it was all centered around Markets in Crypto-Assets (MiCA) regulation, and our main focus was assisting firms to adapt to this new reality. Now, Inteliumlaw advises firms on getting a CASP license and delivers end-to-end MiCA-relevant support for token issuance, exchange listings, DeFi project launch, and the preparation of MiCA-compliant white papers and the notification submission process.
Therefore, I could say that our 2025 best-seller request was securing a CASP license and listing a token in Europe with MICA-compliant white papers, where we provide end-to-end, hands-on support through every stage of the process.
Your firm positions itself as a long-term strategic partner rather than a traditional legal service provider. How do you maintain that level of involvement with clients?
Elena: What we do is not just some careless execution of the client order made on autopilot. Rather, every Inteliumlaw client receives a customized approach designed to serve their interests in the most effective way. Our goal is to build long-term relationships with our clients, not driven by “capitalist motives,” but because this is the only way we can always stay on top of their current needs and help them grow a business that will sustain in the long term. When our clients grow, so do we.
As part of our customised approach, we ensure every client has a dedicated manager for their project from day one. In this case, they always have a point of contact who coordinates the project and maintains a 24/7 insight into the client’s status and needs, allowing us to offer the right legal solution.
When maintaining continuous involvement with the client and their needs, for instance, our lawyers continuously analyze the regulations in their home base and in their target expansion markets, helping identify what they might be exposed to early, help them adapt, and advise on the alternatives if needed. Most importantly, we do not walk away when the stakes rise and never leave clients in complex cases, but are actively engaged in finding the best possible solution for them. It makes our life a little bit more complicated compared to other law firms, but it is a principle we do not compromise on.
Many crypto entrepreneurs feel that regulation kills innovation. From your perspective, is this a fair statement? What is your opinion?
Elena: In many cases, yes, though it highly depends on the jurisdiction and its regulation, where the “killing innovation” narrative often stems from authorities imposing unrealistic expectations that far outpace current realities. In some cases, regulators could have opted for a less strict approach to some aspects, which would ultimately lead to minimized conflict and a slower pace of innovation and new projects’ development.
On the other side, without regulation as it is, projects cannot exist. Yet, reacting promptly to different changes can keep the project stable and demonstrate credibility to the market. In practice, the strongest players on the market today are those who are able to adapt to the regulatory expectations; this is what defines the long-term sustainability and how a project gains trust from customers.
An unregulated industry certainly equals much more space for projects that are not reliable. So the ultimate question here is to strike a balance, a “golden mean,” which, in most cases, simply doesn’t exist, making businesses’ lives more complicated.
When a new crypto business approaches you with a request, what are the first questions you ask before even talking about jurisdictions, licenses, or other legal support?
Elena: The very first thing we discuss before everything is each project’s operational model and details of how they function, ensuring we understand the business almost as if we are the one and only founder. This is the foundation of everything: from jurisdiction-based classification of their project and the subsequent regulations applicable to which legal solution(s) we can deliver to best fit the project’s needs.
Luxury ateliers never proceed to manufacturing a tailored suit without taking precise measurements. Our approach is no different. Based on the client’s near- and long-term goals, vision, and the detailed specifics of their work, we advise on the solutions that best match their needs.
Without clear, detailed answers upfront, any discussion of how we can assist would be irrelevant. A minor oversight of a tiny detail can make a tailored suit feel suffocating. Likewise, a small nuance can completely change the course and redefine what the right solution looks like.
How do you evaluate which crypto license is optimal for a client’s business model? Especially, how does this process go for choosing an EU jurisdiction for getting a CASP license?
Elena: Long before the client reaches out, a preliminary analysis has typically been made internally. Every jurisdiction is carefully reviewed for the requirements and the regulator’s approach to issuing licenses, so we understand the level of complexity involved and identify which businesses are most likely to pass through the process.
When the client approaches us, we carry out an in-depth analysis of their setup and objectives. We explore token issuance plans, targeted markets for expansion, where the team is located, and a lot more to shape a compliant strategy. Only after assessing licensing complexity, the client’s objectives, and the budget allocated to ongoing compliance can we recommend the most suitable alternative.
MiCA has completely reshaped how crypto businesses must operate in Europe. What is the biggest misconception companies still have about this regulation?
Elena: Working with crypto firms worldwide – including those already serving EU clients or planning to enter the market – I see one misconception more than any other: many still misunderstand the difference between a VASP and a CASP, assuming they can still onboard EU customers without securing the new authorization. This is especially the case with firms registered in offshore regimes with little oversight. In fact, they can’t.
This misconception is similarly prevalent among companies previously having VASP in Poland and other EU countries. Where firms were not prepared to meet higher requirements beyond their “light-touch” setup, it is becoming hard to adapt to substance requirements, organize client workflows, and develop comprehensive documentation. For businesses already operating in tightly regulated regimes, the transition is typically smoother.
So, I would say the biggest myth now is that a business can still operate as before, targeting Europe while being registered in an unregulated jurisdiction or one known for little oversight. These times are now officially over. Even more concerning is that, in 2026, some still believe crypto is unregulated; it is regulated.
In a recent interview, you called the UAE “one of the most promising global hubs for crypto and Web.” What specific regulatory or economic features give the UAE an edge over Europe or the US?
Elena: What makes them different is their vast resources, readiness, and willingness to invest substantially in the crypto sector, all with the focus on innovation. The UAE is home to lots of corporations with a significant appetite to invest and lead in crypto, which is why there is a consistent effort to shape a regulatory environment that accelerates growth.
The UAE’s approach is truly something unique now. Where Europe tries to follow US standards with an even more stringent rule, the UAE chooses a more liberal option and approaches it more like an opportunity to strengthen the economy. The EU treats crypto much like early societies treated fire: extremely dangerous without control. That’s why the regulation is made to avoid fraud, protect customers, and reduce the room for unreliable projects.
The UAE, on the other hand, is not afraid to introduce something new. It is therefore unsurprising that they have higher adoption rates, new solutions appear faster, and central bank digital coins are being adopted much sooner than anywhere else in the world.
Imagine you can design a new “ideal” crypto jurisdiction by combining elements of 3 already-existing regimes, which would you select and why?
Elena: There is no real need to merge 3 regimes when we can choose one framework as the core and make small adjustments.
In essence, the ideal crypto jurisdiction would match the UAE innovation-first model while offering a less complex procedure to roll out in the region(s). The process of issuing authorization permits (licenses) and understanding projects’ specifics is way too overwhelming now in the UAE. Even so, however, the select few who successfully make it through the process – often after months of waiting for the regulator’s feedback, sometimes only for minor clarifications – ultimately gain access to everything the jurisdiction has to offer.
Subsequently, rationalizing this process to the extent possible would materially strengthen the jurisdiction’s reputation as a crypto-friendly hub, making it the #1 or very close to this status.
In your experience, what are the most underestimated risks when crypto businesses operate “non-compliant but profitable,” beyond fines and license revocation?
Elena: It all comes down to the severity of non-compliance. On the administrative level, there are fines of different sizes and, in the worst cases, license revocations. Yet this is not the greatest fear of most businesses.
The most horrifying skeleton in the closet is when a case turns to criminal law, and the impact goes beyond the project finances to human lives. There are numerous high-profile cases where exchange executives are arrested and prosecuted for money laundering, and this is precisely what everyone wants to avoid.
We’ve learned that you’ve designed over 50 tax-efficient and future-proof structures while also supporting multimillion-dollar deals. Which projects are you the most proud of and why?
Elena: It’s honestly difficult to single out just one project, because every structure we design at Inteliumlaw is built around a very specific business and risk profile. Each of them is its own story, and behind every “successful structure” there are months of very detailed, customized legal, tax, and regulatory work.
That said, I’m especially proud of the projects where we supported businesses from a very early stage and further during their growth into well-known brands. There’s something very rewarding about knowing you didn’t just advise on a structure but helped build the strong legal foundation that allowed the company to scale safely.
In the crypto and web3 space specifically, we’ve worked on a wide range of complex matters: from tokenization of real-world assets (including immovable property) and structuring decentralized exchange and trading infrastructure projects to token issuance and token classification, governance models, and cross-border tax and corporate setups for founders and groups. We’ve also supported projects building trading terminals, platforms, and hybrid web2/web3 models.
What I’m most proud of is not just the number of structures we’ve built, but the fact that many of them were designed to be “future-proof.”
And lastly, what regulatory developments in crypto do you anticipate in 2026? Most importantly, do you think the primary regulatory risk for crypto firms will come from new laws or from aggressive reinterpretation of rules that already exist today?
Elena: 2026 will be a very important year for regulatory consolidation in crypto, especially in Europe. First of all, we expect the expiration of the MiCA grandfathering period around mid-2026, which will force many existing VASP-style structures to either become fully licensed CASPs or exit the market. In practice, this will mean a major clean-up of the industry, with higher compliance costs but also a much clearer regulatory perimeter for serious players.
At the same time, we expect increasing global pressure on so-called “regulatory gap” jurisdictions. Many offshore and semi-offshore hubs that historically served crypto businesses precisely because of lighter regulation will likely introduce more formal crypto frameworks, licensing regimes, and substance requirements. We’re already seeing the early stages of this trend.
On the structural side, I think we’ll see more legally recognized DAOs and on-chain governance models entering the mainstream. But in parallel, decentralized and hybrid web3 projects will continue to move under closer regulatory scrutiny, especially where there is any element of custody, intermediation, token distribution, or profit expectation.
As for regulatory risk, it will likely come from both sides: new laws and aggressive reinterpretation of existing rules. In practice, enforcement and re-qualification under existing financial, securities, AML, and consumer protection regimes may be just as disruptive as brand-new legislation. The industry is maturing, but companies should plan for a tougher, more enforcement-driven environment in the near term.
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Crypto World
Jack Dorsey says AI should replace the middle manager after Block (XYZ) cuts 4,000 jobs
In Jack Dorsey’s view of the world, the job most at risk from the AI revolution is the middle manager.
Dorsey argues in a new essay, “From Hierarchy to Intelligence,” published with Roelof Botha, Sequoia Capital’s managing partner, an investor in Block, that his company’s decision to cut approximately 4,000 of its more than 10,000 employees was not a cost reduction but a permanent restructuring to replace middle managers with AI.
Corporate hierarchy, the essay argues, has always existed to solve one problem: routing information through organizations too large for any single person to oversee.
Managers aggregate context from below, act as messengers from above, and maintain alignment across teams. AI can now perform those functions continuously and at scale, the authors argue, making the messenger redundant.
In place of management layers, Dorsey and Botha proposes two AI-driven “world models.”
One aggregates internal data from code, decisions, workflows, and performance metrics to create a continuously updated picture of company operations, replacing the context that managers traditionally carried.
The other maps customer and merchant behavior using transaction data from Cash App and Square.
Those models feed what Block calls an “intelligence layer” that composes financial products dynamically to fit market demand.
If done properly, the models absorb the coordination work that previously justified the existence of middle management.
Rather than building from fixed roadmaps, the essay proposes breaking Block’s business into modular capabilities, including payments, lending, card issuance and payroll.
When the system identifies a need, the essay’s example is a merchant facing a seasonal cash flow gap, it assembles a solution from existing capabilities. When it cannot, the missing capability defines what gets built next, replacing the product roadmap with a system-generated backlog.
The organizational structure is reduced accordingly. Block plans to operate with three roles: individual contributors who build the system, directly responsible individuals who own specific outcomes on 90-day cycles, and player-coaches who remain hands-on while developing people.
Dorsey told Wired in early Marchthe restructuring was triggered by a capability shift he observed in December in tools including Anthropic’s Opus 4.6 and OpenAI’s Codex 5.3, which he said was now capable of operating effectively in large codebases.
But current and former Block employees told the Guardian that roughly 95% of AI-generated code changes still require human modification, and that AI tools cannot yet lead in regulated areas like banking and money transfers.
Welcome to our institutional newsletter, Crypto Long & Short. This week:
- Nilmini Rubin on the challenge facing crypto and traditional markets to create a hybrid, shared governance structure.
- Meredith Fitzpatrick covers how financial institutions must fundamentally rethink AML risk as crypto and TradFi converge.
- Top headlines institutions should pay attention to by Francisco Rodrigues.
- Maple loans surge past $1 billion in Chart of the Week.
Expert Insights
Governance is the real Layer 1
By Nilmini Rubin, chief policy officer, Hedera
When Silicon Valley Bank collapsed in 2023, USDC briefly lost its dollar peg after billions in reserves were trapped in the bank. The impact spread quickly, stalling markets, repricing assets mid-transaction and triggering a broader confidence shock. While regulators stress-test traditional markets, this event exposed a new risk where failures in traditional finance can directly impact digital assets.
This episode raised fundamental questions about what happens if risk moves in the other direction, from crypto to the traditional market: who intervenes, who absorbs losses and how is confidence in markets restored?
As blockchains begin underpinning financial markets, the next phase of digital assets will be defined not only by innovation but by coordinated accountability. That accountability is shaped by how networks are designed.
The false binary
For years, blockchain debates revolved around a familiar divide: public vs. private networks.
Permissionless networks maximize openness and censorship resistance, but can struggle with coordinated upgrades, regulatory integration or emergency intervention. Private systems emphasize control and compliance over neutrality and interoperability.
As institutional adoption accelerates, hybrid models are emerging as the preferred solution.
Hybrid architectures combine public verifiability with open participation and predictable governance. This renders them more suitable for regulated use cases and compliance frameworks that require greater transparency and clear roles. Coordinated accountability, rather than simply public or private choices, is blockchain’s next major challenge.
Blockchain architecture is increasingly converging toward hybrid governance models.
When governance meets crisis
In complex systems, responsibilities are usually defined before problems emerge. Participants know who has authority, who absorbs losses and how emergencies are handled.
Blockchain networks should begin with that level of clarity. When stress arrives through sanctions enforcement, protocol failures or market crashes, effective governance proves a difficult test.
The industry has already seen early signals. During the March 2020 market crash, MakerDAO required emergency intervention after auction failures erased millions in value. The protocol recovered, but we cannot allow these incidents to occur frequently and at scale. In other cases, networks have used coordinated forks to address hacks or illicit activity, but only after the fact.
As tokenization expands, increasing resilience will require governance systems that anticipate crises and define decision-making before an event occurs to effectively mitigate.
Putting governance to the test
Mature financial systems routinely stress-test their governance structures to ensure resilience well before moments of disruption.
Hybrid networks must bring that discipline on-chain. Governance stress testing clarifies roles, aligns incentives and strengthens coordination under pressure, helping the industry prepare for scenarios such as stablecoin volatility, regulatory shifts and AI-driven governance dynamics.
Governance is the real Layer 1
Digital assets are reimagining ownership and participation. The next challenge is applying that same creativity to governance.
The networks that endure will not be the ones with the most tokens or the fastest throughput. They will be the ones that know how to govern effectively when the system comes under pressure.
Headlines of the Week
– By Francisco Rodrigues
The crypto industry has continued navigating the regulatory system over the week, making its way into the mortgage market while also seemingly being stopped from offering yields on stablecoin balances. Other major developments further build trust in the industry, even as prices drop.
Expert Perspectives
The new financial order: updating TradFi risk for crypto
– By Meredith Fitzpatrick, partner and head of cryptocurrency, Forensic Risk Alliance
The convergence of traditional finance and cryptocurrency is no longer theoretical sci-fi — it’s here. Regulatory clarity across major jurisdictions is accelerating institutional entry into digital assets, from Europe’s Markets in Crypto-Assets (MiCA) framework to expanding U.S. legislative momentum with the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. For financial institutions, the question is no longer whether to engage with crypto, but how to do so safely.
The critical misstep many institutions make is treating crypto as an extension of existing products. It is not. Crypto fundamentally changes how anti-money laundering (AML) risk must be assessed, monitored and controlled.
At its core, blockchain introduces three defining characteristics: immutability, pseudonymity and borderless value transfer. These reshape both financial crime risk and the tools required to manage it.
Control shifts from accounts to keys
In traditional finance, assets are secured through centralized systems and reversible transactions. In crypto, control rests with private keys. When institutions offer custody, AML risk becomes inseparable from cybersecurity risk. A compromised key is not just a breach — it is an irreversible transfer of value, often beyond recovery. This requires controls such as multi-signature authorization, cold storage, strict access governance and wallet segregation — all of which sit outside traditional AML frameworks but are critical to risk mitigation.
Non-custodial wallets mean dynamic risk assessments
Traditional AML relies heavily on customer identity and static risk profiling. In crypto, this model breaks down. Customers can transact through non-custodial wallets that exist outside institutional onboarding frameworks, and illicit activity often hides in transaction behavior rather than identity.
As a result, risk assessment must evolve from “who the customer is” to “what the wallet does.” This requires continuous monitoring of on-chain activity, including exposure to high-risk counterparties, mixers and decentralized protocols. Risk becomes dynamic, not periodic.
Crypto financial crime is structurally more complex
Cryptocurrency money laundering can involve newer technologies, such as chain-hopping and the use of privacy-enhancing technologies like mixers, that have no direct parallel in traditional finance. Transactions can traverse multiple jurisdictions in minutes, rendering legacy screening systems insufficient. Effective AML now depends on blockchain intelligence: the ability to trace funds, identify direct and indirect exposure to risky parties and interpret transaction patterns across networks.
These shifts require a corresponding evolution in governance and risk management. Boards and risk committees must redefine risk appetite to reflect crypto-specific exposures. Institutions should introduce specialized teams (e.g., digital asset approval committees and high-risk customer panels) to manage rapidly changing risks.
Most importantly, the Enterprise-Wide Risk Assessment (EWRA) must become dynamic. Static, point-in-time assessments are inadequate in an environment where risk profiles can change with a single transaction.
The table below illustrates how customer risk assessment must evolve:
Area of focus |
TradFi |
Crypto |
|---|---|---|
| Customer identity | Typically, through identification and verification using government-issued IDs, physical addresses and relevant databases (e.g., credit history). | Most centralized virtual asset service providers (VASPs) have KYC/CDD/EDD procedures like TradFi institutions. However, “non-custodial wallets” (wallets where the user retains private key control) exist outside of a centralized body that collects KYC. In this case, on-chain activity may be used when assessing the risk of the customer. |
| Risk indicators | Based on factors like employment, income, geography and transaction history with the institution. | Based on wallet behaviour, age, transaction counterparties, interactions with high-risk services (e.g., mixers), and exposure to certain smart contracts, non-custodial wallets, or DeFi platforms. |
| Transaction transparency | Transaction data is private and accessed through internal banking records. | On-chain transactions are publicly available, enabling advanced analytics, but only for those with the tools and expertise to interpret them. |
| Dynamic risk monitoring | Risk profiles are usually static or periodically updated. | Risk can change dynamically with wallet activity, based on real-time blockchain analysis and ongoing monitoring. |
Finally, institutions must invest in new capabilities. Fluency in blockchain analytics for transaction monitoring and forensic investigation are no longer niche skills — they are core AML functions. Most organizations will require a hybrid model combining internal expertise with external specialists.
Professionals in this space must recognize that cryptocurrency compliance is not merely adapting existing frameworks but requires fundamentally different approaches to transaction monitoring, due diligence and incident investigation. Success requires compliance teams to understand traditional regulatory requirements and crypto-specific investigation challenges. Institutions approaching crypto adoption with appropriate forensic rigour — treating it as a fundamental compliance transformation rather than simple product addition — will be best positioned for sustainable success.
Chart of the Week
Maple loans surge past $1B on record $350M single-day issuance
Maple’s loans outstanding jumped back above $1 billion last week as the protocol issued $350 million in loans on a single day. With total AuM now exceeding $4.6 billion, there is a divergence between the protocol’s strong fundamentals and the associated SYRUP token price action. This growth, in spite of broader market conditions, continues to highlight the resilient demand for institutional-grade lending among crypto-native firms.
Listen. Read. Watch. Engage.
Looking for more? Receive the latest crypto news from coindesk.com and market updates from coindesk.com/institutions.
Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc., CoinDesk Indices or its owners and affiliates.
- StakeStone price jumped from $0.11 to above $0.26, going vertical amid a spike in daily volume.
- The sharp gain follows a whale accumulating over 25.5 million STO tokens.
- STO price could see a steep pullback amid profit-taking deals.
StakeStone (STO) price exploded during early trading on April 1, pumping more than 130% to hit a new all‑time high.
The vertical action, which occurred amid a broader consolidation across the crypto market, saw STO’s intraday trading activity surge.
The token is in price discovery, but can the lofty levels hold?
Why StakeStone jumped 136% today
STO token posted a sharp intraday surge on Wednesday, significantly outperforming the broader altcoin market.
While most cryptocurrencies traded near key support levels, STO jumped from around $0.11 to a new all-time high above $0.26.
The move marked a gain of roughly 136% and made it the top performer among the 500 largest cryptocurrencies by market capitalisation.
The rally appears to have been driven by a large transaction linked to a newly created wallet.
Data from Lookonchain shows the wallet withdrew more than 25.5 million STO tokens, valued at over $4.85 million, from Binance.
The holdings represent approximately 11.32% of StakeStone’s circulating supply, suggesting concentrated accumulation that may have contributed to the sharp price movement.
The price of $STO surged from $0.11 to $0.26 today, a 136% increase.
A newly created wallet(0x5e2E) withdrew 25.5M $STO($4.85M) from #Binance in the past 20 hours, 11.32% of the circulating supply.https://t.co/UhTfZhT8CS pic.twitter.com/GAI5Y2L8LE
— Lookonchain (@lookonchain) April 1, 2026
The transfer acted as an immediate and powerful demand shock, with the size of the order absorbing available sell liquidity near the market price.
It forced quotes higher as market makers and sellers adjusted to the sudden imbalance between bids and offers.
With limited resting supply at higher levels, the price moved rapidly upward as each successive fill occurred at incrementally higher prices.
Data from CoinMarketCap shows a 560% increase in intraday volume, with over $190 million traded in the past 24 hours.
StakeStone’s market cap was also sharply up, as STO printed a new all-time high.
Prices hovered around $0.25 at the time of writing, up more than 390% since the all-time low of $0.049 on February 6, 2026.
STO price outlook — is a sharp decline next?
From a technical perspective, STO’s chart now reflects a near‑vertical candle following the 136% single‑day move.
Price currently hovers well above recent consolidation zones and historical trading ranges.
Such abrupt expansions in price and volume often leave the token looking temporarily extended.
In the market, this type of structure frequently precedes volatile retracements as the market digests the move and short‑term participants reassess risk and reward.
Given the magnitude and speed of the rally, a period of profit‑taking and a potential steep pullback cannot be ruled out.
A rapid unwind of intraday positions could see STO test lower levels, with $0.19 key.
If selling intensifies, the next major support zone could be $0.15-$0.11.
However, the reduced circulating supply could help support prices and allow for an extended, though volatile, ride to new highs.
Bitcoin (BTC) finally closed a month with positive price performance for the first time since September, but it only snapped its five-month losing streak by the slimmest of margins.
BTC opened the month at $67,000 and closed at $68,221. In other words, the entire “gain” amounted to about $1,200 per coin, or 1.8%.
For context, BTC often fluctuates by that amount within a few minutes on an average day.
Energized by even the most pitiful shred of evidence that the crypto bear market might be ending, the BTC community celebrated the momentum shift.
The Fear and Greed Index hit an all-time low of five out of 100 on February 6, 2026. It’s now much higher, if you squint a bit less, at 31.
One less bad month for BTC
The streak that preceded March’s flicker of positivity was genuinely ugly.
BTC was worth more than $126,000 on October 6, 2025. By February 6, it had collapsed to $60,000.
Recent monthly losses have been relentless. Total crypto market capitalization fell by $200 billion in October, $610 billion in November, $110 billion in December, $300 billion in January, and $350 billion in February.
March paused that decimation with a $40 billion gain, the slimmest of margins.
Still, at least it’s not as bad as its absolute worst moment this year.
BTC is 14% higher than its $59,930 low set on February 6. It’s even rallied a bit since the onset of a typically bearish war and macro environment.
Read more: Bitcoin outperforms gold as Iran war shakes ‘safe-haven’ trade
The reaction on social media revealed just how desperate BTC traders had become for any glimmer of hope.
Bitcoin Magazine announced the green close with a breathless all-caps alert, as if BTC hadn’t just spent half a year losing nearly half its value.
One popular account called it a “massive dose of hopium” before adding, perhaps wisely, “Let’s hope this is not an April Fools’ joke.”
Read more: What is @inversebrah?
The longest continuous monthly bear streak prior to this stretch was a six-month long red streak from August 2018 through January 2019.
BTC is today priced at $68,300, 46% below its October high and 23% lower year to date.
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Something is shifting in the crypto casino market. Search volumes for terms like “Stake alternative,” “sites like Stake,” and “Stake.com replacement” have been climbing steadily throughout 2026. Stake.com remains one of the most visited crypto gambling platforms in the world, so the rising interest in alternatives is not about Stake failing — it is about players wanting more. More games, more bonuses, more ways to earn while they play. ZunaBet is one of the names that keeps appearing in those searches. Launched in 2026, it has quickly positioned itself as the kind of platform that players leaving or supplementing Stake are looking for. This article examines what is driving the trend and how the two platforms compare.
Stake.com: Where Things Stand
Stake.com has been a force in crypto gambling since 2017. Licensed in Curaçao, it grew rapidly by being one of the first platforms to build a serious gambling product entirely around cryptocurrency. Bitcoin, Ethereum, Litecoin, Dogecoin, and other major coins are all supported for deposits and withdrawals.
The platform made its name with a lineup of provably fair original games. Crash, Plinko, Dice, Mines, and similar titles became synonymous with the Stake brand and built a community of dedicated players. Third-party games from providers like Pragmatic Play, Evolution, and Hacksaw Gaming fill out the rest of the casino with slots and live dealer tables.
Stake also operates a full sportsbook covering football, basketball, tennis, MMA, esports, and other markets. The odds are competitive and the interface is clean, which keeps experienced bettors engaged.
For years, Stake has held a dominant position in the crypto gambling space. But dominance invites scrutiny, and players who have spent time on the platform are increasingly vocal about the areas where Stake falls short of their expectations.
Why Players Are Looking Elsewhere
The search interest in Stake alternatives does not come from nowhere. Several recurring themes show up in community discussions, forums, and social media conversations about why players are exploring other options.
The most frequently mentioned issue is the lack of a welcome bonus. Stake does not offer any deposit match, free spins, or sign-up promotion for new players. You deposit and you play with exactly what you put in. All rewards are funneled through an invite-only VIP program that activates based on sustained high-volume wagering. For players who do not wager at that level, Stake offers no additional value beyond the games themselves.
The VIP program itself generates mixed opinions. Players who have earned an invitation generally speak well of the rakeback and bonuses they receive. But the closed nature of the system frustrates everyone else. There are no published tiers, no public requirements, and no way to track your progress toward an invitation. For many players, it feels like a program that exists for someone else.
Game library size is another factor. Stake carries a solid selection, but newer platforms have launched with significantly larger catalogs, making Stake’s offering feel less comprehensive by comparison.
These gaps have created an opening in the market, and platforms like ZunaBet have stepped directly into it.
ZunaBet: What the Alternative Looks Like
ZunaBet launched in 2026 under Strathvale Group Ltd with an Anjouan gaming license. The team behind it has more than 20 years of combined online gambling experience. The platform was built from scratch as a crypto-native operation — cryptocurrency is not a payment add-on but the foundation of the entire system.
The game library immediately addresses one of the most common complaints about Stake. ZunaBet offers over 11,000 games from 63 providers, including Pragmatic Play, Hacksaw Gaming, Yggdrasil, BGaming, and Evolution. That covers slots, RNG table games, and live dealer experiences. With 60+ studios contributing content, the range of game styles, themes, and mechanics is among the widest in the crypto casino space. Players moving from Stake to ZunaBet are unlikely to feel like they are downsizing.
The sportsbook is fully integrated. Coverage includes football, basketball, tennis, NHL, combat sports, virtual sports, and esports markets for CS2, Dota 2, League of Legends, and Valorant. One account and one balance handle everything, so switching between casino and sports is seamless.
ZunaBet supports more than 20 cryptocurrencies: BTC, ETH, USDT across multiple blockchains, SOL, DOGE, ADA, XRP, and others. No platform processing fees are applied. Withdrawals are built for speed. Apps are available for iOS, Android, Windows, and MacOS, with live chat running 24/7.
The Bonus Gap
This is the single biggest reason players search for Stake alternatives, and it is where ZunaBet makes its strongest first impression.
Stake offers nothing when you sign up. No matched deposit. No free spins. No promotional credit. Your first session is funded entirely by your own money with zero cushion.
ZunaBet opens with a welcome package worth up to $5,000 plus 75 free spins across three deposits. First deposit: 100% match up to $2,000 with 25 free spins. Second deposit: 50% match up to $1,500 with 25 spins. Third deposit: 100% match up to $1,500 with 25 spins. The three-deposit structure keeps bonus value flowing across a player’s first several sessions rather than concentrating it all on day one.
For a player evaluating whether to try a new platform, this alone answers the question. ZunaBet gives you significantly more to work with from the start, which means more games explored, more bets placed, and more time on the platform before your own funds carry the full weight.
Loyalty: Closed System vs Open Progression
The loyalty comparison is the second major driver of the search trend.
Stake’s VIP program operates behind closed doors. Invitation is based on wagering volume, but the thresholds are not published. Players have no visibility into where they stand or how close they are to qualifying. Those who make it in report strong benefits — rakeback, recurring bonuses, and personal account management. Those who do not make it in see nothing. For a large portion of Stake’s user base, the VIP program might as well not exist.
ZunaBet takes the opposite approach with a dragon evolution loyalty system featuring six published tiers. Squire starts at 1% rakeback. Warden gives 2%. Champion gives 4%. Divine gives 5%. Knight gives 10%. Ultimate reaches 20%. Each tier also unlocks free spins scaling up to 1,000, VIP club membership, and double wheel spins. A dragon mascot named Zuno gives the program personality and makes the progression feel gamified rather than transactional.
Every element of ZunaBet’s loyalty program is visible from day one. Players see every tier, every reward, and every requirement the moment they create an account. There is no ambiguity and no closed doors. For players frustrated by Stake’s opaque VIP system, this transparency is exactly what they are looking for. The 20% rakeback ceiling at the Ultimate tier offers a return rate that matches or exceeds what many Stake VIP members report receiving, but without requiring an invitation to access.
The Broader Crypto Casino Shift
The surge in alternative searches is not just about Stake specifically. It reflects a broader maturation of the crypto gambling market. When Stake launched in 2017, the options were limited and any decent crypto casino attracted players almost by default. In 2026, the landscape is crowded with platforms competing aggressively on bonuses, game variety, coin support, and loyalty rewards.
Players have become more sophisticated in how they evaluate platforms. They compare wagering requirements, check rakeback percentages, count supported cryptocurrencies, and read the fine print on loyalty programs. The era of sticking with one platform out of habit or lack of alternatives is fading.
ZunaBet benefits directly from this shift. Supporting over 20 cryptocurrencies with no processing fees, offering a game library that dwarfs most competitors, and running a loyalty program with published tiers and up to 20% rakeback positions it as the kind of platform that informed players actively seek out. It was built for a market where players shop around, and it was designed to win that comparison.
Both Stake and ZunaBet sit firmly in the crypto camp, which already separates them from traditional fiat operators like DraftKings, BetMGM, FanDuel, and Caesars. Those platforms process payments through banks and cards with slower withdrawals and higher fees. For players whose finances already run on crypto, neither traditional platform is a natural fit. The real choice for crypto gamblers in 2026 is between established crypto platforms like Stake and newer ones like ZunaBet that are pushing the category forward.
What the Search Trend Signals
Rising search interest in Stake alternatives is not a sign that Stake is declining. It is a sign that the market has evolved past what any single platform established years ago can satisfy without adapting. Players want welcome bonuses. They want transparent loyalty programs. They want massive game libraries and broad crypto support. They want platforms that earn their loyalty rather than assume it.
ZunaBet checks every one of those boxes. A $5,000 welcome bonus with free spins. Over 11,000 games from 63 providers. More than 20 supported cryptocurrencies with zero fees. A six-tier loyalty program reaching 20% rakeback with full visibility. A complete sportsbook with esports. It is a platform built specifically for the player who typed “Stake alternative” into a search engine and wanted to find something better.
Stake wrote the early playbook for crypto casinos. ZunaBet is writing the updated version — with more generosity, more transparency, and more reasons to choose it over what came before. The search trends suggest that a growing number of players are ready for that next chapter, and ZunaBet is the platform best positioned to deliver it.
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.
The digital asset space has shifted a lot in 2026. The era of speculative retail frenzies is being replaced by a sophisticated, capital-heavy infrastructure driven by global institutions.
We are witnessing a historic migration. Crypto innovation is moving from hype-cycle headlines into the mission-critical backends of the world’s largest asset managers, banks, and payment networks.
As the border between TradFi and crypto effectively vanishes, the market requires something more effective than a “popularity contest” to identify its true leaders. It requires a data-backed standard of excellence.
Enter the BeInCrypto Institutional 100 Awards.
Unlike traditional industry awards that often rely on subjective “vibes” or paid placements, BeInCrypto has unveiled a data-backed framework designed to measure excellence across the entire institutional value chain.
Whether the category is high-speed trading infrastructure, the tokenization of real-world assets, or large-scale enterprise rollouts, the 2026 evaluation process is anchored by one “gold standard” rule: Show us the receipts.
In crypto, we know that marketing often outpaces reality. So, how do you solve this? Every point a nominee earns must be backed by an auditable data source. If you can’t trace it to a specific metric, a regulatory filing, or a verified on-chain event, it doesn’t count.
BeInCrypto has built a “firewall” around its rankings. No entity can purchase, negotiate, or lobby for a spot on this list. Unlike traditional awards, where a small committee might pick winners based on personal connections or brand recognition, our process is entirely transparent and traceable.
To ensure total fairness, we use a two-stage evaluation designed to eliminate “anchoring bias,” that common human tendency to automatically favour “big names” over better-performing newcomers. Here is how the process works:
- Stage 1: The Data Filter
We start by looking at the numbers. This stage is purely mathematical, using hard metrics to filter dozens of candidates down to the top contenders. If the data doesn’t back up the hype, the nominee doesn’t move forward.
- Stage 2: The Expert Council
The top candidates are then reviewed by a panel of industry veterans. Their job isn’t to pick favorites, but to interpret the data profiles through the lens of real-world experience, strategic execution, and leadership.
- The Result
This creates a ranking where a disruptive, high-growth “underdog” can actually unseat a legacy giant, provided the data proves they are doing a better job.
A Methodology Built for Reality
Institutional finance is built on privacy and proprietary strategy. Many firms treat their specific user numbers and revenue splits as confidential, which often leaves researchers with a “data gap.”
BeInCrypto uses a specialized toolkit of Derived Estimation Methods to ensure these firms are still measured accurately.
Reverse-Engineering Impact
If a firm doesn’t disclose specific user counts, our analysts work backward. Using Revenue-Ratio Inference, we take reported segment earnings and apply industry benchmarks to find a realistic activity level.
The “Reciprocity” Test
We verify partnership claims by checking the other side of the deal. Through Partnership Reciprocity Testing, we search the communications of a nominee’s partners. A partnership that is actively acknowledged by both parties carries significantly more weight than a one-sided claim.
Regional Modeling
By combining a company’s total footprint with local crypto adoption data from sources like Chainalysis, we build an accurate map of their actual influence in specific global markets.
The Three-Track Architecture
You wouldn’t use a ruler to measure the temperature, and you shouldn’t use the same criteria to measure a Bitcoin ETF as you would a New York Law Firm. To keep things fair, the 2026 methodology splits all 25 award categories into three specialized “tracks” based on what kind of data is available.
Track A: The Data-First Track
- Best for: High-transparency products like ETFs, On-Chain Protocols, and Asset Managers.
- How it works: In this track, the numbers do 50% of the talking. Because we can see exactly how much money is moving on the blockchain or in a fund, the data carries equal weight with our experts.
- Example: When evaluating “Best Digital Asset Product,” we look at $AUM$ (Assets Under Management) and daily inflows. If a new Bitcoin ETF is growing at 300% month-over-month, the data automatically pushes it to the top of the pile.
Track B: The Hybrid Track
- Best for: Consumer-facing companies like Neobanks, Crypto Brokers, and Onramps.
- How it works: These companies often have “hidden” data, like how many monthly active users they actually have. This track rewards transparency. We give a 20% “bonus” weight to firms that voluntarily share their internal metrics with our researchers.
- Example: If two Digital Banks have similar public reputations, but Bank A provides verified data on their institutional client growth while Bank B stays silent, Bank A earns a higher “Transparency Score,” giving them the competitive edge.
Track C: The Expert-Led Track
- Best for: Complex areas like Governance, Regulatory Compliance, and Policy Leadership.
- How it works: You can’t measure “good leadership” with a spreadsheet alone. In this track, our Expert Council, veterans from traditional finance and legal sectors, provides 80% of the score. However, we still include a 20% “sanity check” based on measurable signals.
- Example: For “Best Compliance Program,” the Council looks at the quality of a firm’s legal framework. But we anchor that opinion with data, such as: How many licenses do they actually hold? or What is the ratio of compliance staff to total employees? This ensures even “expert opinions” are rooted in reality.
Negative Signals
Innovation shouldn’t come at the cost of integrity. Every nominee faces a mandatory Negative Signal Scan.
This isn’t just a Google search. Our team scours SEC and VARA enforcement databases, Immunefi bug bounty records, and the DefiLlama Hacks database.
An unresolved security breach or a major regulatory fine isn’t just a “red flag,” it’s often a disqualifier. By baking risk assessment into the core score, BeInCrypto ensures that the “Institutional 100” represents the most stable and reliable actors in the space.
Looking Ahead to June 2026
The BeInCrypto Institutional 100 is about setting a real-world benchmark for an industry that has finally found its footing.
By opening up our playbook and publishing this methodology in full, we’re doing more than just handing out awards; we’re inviting the entire market to hold us and the winners to a much higher standard.
When the winners are revealed this June, you’ll know exactly how they got there. In a market still crowded with noise, we’re placing our bets on the data.
The post The BeInCrypto Institutional 100: A Benchmark for the New Financial Stack appeared first on BeInCrypto.
Crypto World
Stanley Druckenmiller Doubles Down on Alphabet (GOOGL) and Amazon (AMZN) Stock Amid AI Cloud Boom
Quick Summary
- Stanley Druckenmiller continued accumulating Alphabet and Amazon shares for the second consecutive quarter
- His Alphabet holdings surged 277% while Amazon positions grew 69% during Q4
- The billionaire investor previously exited Nvidia and Palantir positions, rotating capital into these cloud giants
- Google Cloud delivered 48% year-over-year revenue growth while AWS reaccelerated to 24%
- Both companies currently trade at significant discounts compared to their historical cash flow valuations
Stanley Druckenmiller, who manages capital through Duquesne Family Office, expanded his holdings in Alphabet and Amazon during the final quarter of 2025. This marks consecutive quarters of accumulation for both technology giants.
According to his SEC 13F disclosure, Druckenmiller acquired 282,800 shares of Alphabet’s Class A stock alongside 300,870 Amazon shares. These purchases expanded his Alphabet stake by 277% and boosted his Amazon holdings by 69%.
The legendary investor earned his reputation delivering approximately 30% annualized returns between 1981 and 2010. Market participants and institutional money managers closely monitor his portfolio adjustments.
Druckenmiller previously maintained positions in Nvidia and Palantir but liquidated both holdings entirely. His capital has been redirected toward Alphabet and Amazon instead.
The strategic rationale behind both investments revolves around their dominant cloud computing platforms. Alphabet operates Google Cloud, which ranks as the third-largest cloud infrastructure provider globally. Amazon maintains AWS, the undisputed market leader.
Artificial Intelligence Fuels Cloud Platform Expansion
Google Cloud reported impressive 48% revenue expansion in the fourth quarter. AWS demonstrated renewed momentum with growth reaccelerating to 24% year-over-year.
Both cloud platforms are integrating generative artificial intelligence capabilities and advanced language models. These innovations are attracting fresh enterprise clients while encouraging existing customers to expand their spending.
Alphabet maintains approximately 90% dominance in worldwide internet search through Google. Amazon operates the leading e-commerce platform throughout the United States.
These investments aren’t pure-play artificial intelligence bets. Both corporations generate substantial, diversified revenue streams beyond their cloud computing segments.
Stock Valuations Present Historic Opportunities
Alphabet currently trades at 14.3 times its forecasted 2027 cash flow. Amazon appears even more attractively priced at just 9.7 times projected cash flow for the same period.
When measured against their five-year historical averages, Alphabet trades at a 20% discount while Amazon shows a substantial 48% discount. Both stocks represent historically attractive entry points based on cash flow metrics.
PwC research projects that artificial intelligence will contribute over $15 trillion to worldwide economic output by 2030. Druckenmiller’s recent purchases indicate his conviction that Alphabet and Amazon will capture significant portions of this value creation.
His fourth quarter filing revealed a 29% reduction in Taiwan Semiconductor Manufacturing holdings. This adjustment signals a strategic pivot away from semiconductor manufacturers toward companies deploying AI applications.
The 13F filing documents holdings as of December 31, 2025, and was submitted before the February 17, 2026 regulatory deadline.
Key Highlights
- Alphabet’s President of Global Affairs and Chief Legal Officer, John Kent Walker, divested 9,093 Class C shares on March 27, generating approximately $2.48 million
- Transaction prices ranged between $273.91 and $278.30 per share
- Needham maintained its Buy rating on March 27 with a $400 price objective
- Wells Fargo increased its price objective to $397 from $387, maintaining an Overweight stance
- The company finalized its $32 billion purchase of Wiz, a cloud security provider, on March 11
John Kent Walker, serving as Alphabet’s President of Global Affairs and Chief Legal Officer, executed a sale of 9,093 Class C shares on March 27, 2026, netting approximately $2.48 million. The sale occurred through several transactions, with share prices spanning from $273.91 to $278.30.
Additionally, on March 31, Walker completed a disposal and re-acquisition of 8,993 Class C shares through a transaction valued at $0 — a structure commonly linked to equity compensation plan activities.
The insider transaction hasn’t dampened investor enthusiasm, as the stock has posted an impressive 84% gain over the trailing twelve months.
Two prominent Wall Street analysts expressed optimistic views on GOOGL during the same timeframe.
Laura Martin from Needham reaffirmed her Buy recommendation on March 27, setting a $400 price objective. This target was initially elevated in February from $330, subsequent to Alphabet’s fourth-quarter earnings disclosure.
Wells Fargo similarly acted on March 27, elevating its price objective to $397 from the prior $387 while sustaining its Overweight designation.
Analyst Ken Gawrelski highlighted that GOOGL possesses “all the pieces necessary to be an AI winner,” citing its computational infrastructure, Google Cloud Platform, extensive distribution channels, and consumer data assets as critical competitive strengths.
Wiz Deal Reaches Completion
Alphabet successfully concluded its $32 billion acquisition of Wiz, the cloud and AI security solution provider, on March 11. Wiz will operate within Google Cloud while preserving its independent brand identity.
Wells Fargo anticipates the transaction will enhance Google Cloud’s platform revenue streams and operating profitability throughout fiscal years 2026 and 2027.
On the innovation front, Google has introduced enhancements to its Gemini AI assistant. Recent features enable users to transfer chat histories from competing AI applications — a strategic capability designed to attract users from alternatives like ChatGPT.
Gemini Enhancements and Developer Capabilities
Google unveiled the Gemini 3.1 Flash Live audio model, engineered for real-time conversational interactions with enhanced accuracy and reduced latency. The technology is currently accessible to developers and enterprise clients across various platforms.
Citizens has retained a Market Outperform rating on Alphabet, emphasizing expansion in AI-driven advertising solutions and cloud infrastructure.
Regarding legal developments, Evercore analysts highlighted a Delaware court decision that may affect insurance coverage disputes for companies including Alphabet. The decision is viewed as beneficial to insurance providers.
Based on InvestingPro analysis, the stock is presently trading marginally above its estimated Fair Value.
Brazil’s main stock exchange B3 will begin offering six new derivatives contracts on April 27 that allow investors to bet on the likelihood of future events, ranging from the price of bitcoin to movements in the dollar and Ibovespa index.
The instruments, called Event Contracts, operate on a framework similar to prediction markets like Kalshi and Polymarket. Prices range up to 100 reals ($19), with each contract’s price reflecting the market’s estimated probability of an outcome.
B3’s contracts are regulated by Brazil’s securities authority (CVM) and designed for professional investors, the exchange said.
The six contracts cover mini futures and spot prices for the Ibovespa index, the U.S. dollar, and bitcoin. They are structured with fixed payouts and known risks from the outset, like crypto price prediction markets on Kalshi and Polymarket.
Traders won’t take delivery of the underlying assets, and settlement is instead cash-based. For now, only investors with more than 10 million reals ($1.9 million) in assets or CVM certification can trade the new products.
B3’s vice president of Products and Clients, Luiz Masagão, said the launch is part of a broader push to modernize derivatives trading in Brazil.
The exchange already offers contracts tied to central bank decisions in several countries and has watched the growth of predictive platforms abroad closely, Masagão added.
The exchange late last year revealed it’s working on its own tokenization platform and stablecoin, both expected to be launched this year.
B3’s launch marks the first federally regulated prediction market in Brazil, though it enters an increasingly crowded field. Platforms like Prévias and Palpitada have been operating domestically in a regulatory gray area, while U.S.-based Kalshi recently partnered with XP International, Brazil’s largest brokerage, to offer event contracts tied to Brazilian economic outcomes.
The move also comes amid a global prediction market boom. Notional volume is now nearing $160 billion, according to a Dune dashboard, while unique users have crossed the 3 million mark.
Polymarket and Kalshi dominate the space globally, accounting for most of the notional volume. Intercontinental Exchange, the owner of the New York Stock Exchange, recently doubled down on Polymarket and bringing its total commitment to nearly $2 billion.
Still, the regulatory landscape remains unsettled on both sides of the equator. In Brazil, legal experts say it’s unclear whether oversight of prediction markets should ultimately fall to the CVM, the Central Bank, or the Ministry of Finance.
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Federal Reserve Chair Jerome Powell speaks Monday to the Harvard University Principles of Economics class.
This will be one of Powell’s final scheduled public appearances before his term ends in May. The discussion comes with markets anticipating the central bank will be on hold regarding interest rates through the end of the year.
In his most recent comments, Powell characterized the economy as growing at “a solid pace” and said he is not concerned with worries of stagflation, low growth with high inflation. However, he noted that policymakers are taking a cautious approach as multiple factors play out this year, including the Iran war, tariffs and a stagnant labor market.
Powell’s term ends officially on May 15, and there is only one more policy meeting between now and then. However, it’s possible he will stay in the position longer if the Senate does not confirm is designated successor, former Governor Kevin Warsh.
The nomination currently is being held up in the Senate Banking Committee as U.S. Attorney Jeanine Pirro continues an investigation into the renovations at the Fed’s headquarters. A judge already has quashed a subpoena Pirro’s office sent to Powell, though she is appealing that decision.
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