Crypto World
Nakamoto Inc. Stock Crashes 99% as Bitcoin Treasury Strategy Backfires
TLDR:
- Nakamoto Inc. stock dropped 99.38%, falling from a peak of $34.77 to just $0.226 per share.
- The company raised over $740M to buy 5,398 BTC at an average price of around $118,000 per coin.
- Unrealized Bitcoin losses reached roughly $280M as prices pulled back from the company’s buy levels.
- A related-party deal issued 363.6M new shares, nearly doubling share count and deepening investor losses.
Nakamoto Inc. (NAKA) has lost nearly all its market value after a series of financial moves tied to its Bitcoin treasury strategy.
The stock, formerly trading under KindlyMD, peaked at $34.77 in May 2025. It now trades at just $0.226. The company raised over $740 million to accumulate Bitcoin at near-cycle highs. The result has been a 99.38% decline and roughly $23.6 billion in erased shareholder value.
How the Bitcoin Buying Strategy Led to Heavy Losses
Nakamoto Inc. rebranded in early 2026 under CEO David Bailey as a Bitcoin treasury company. The company modeled its approach after MicroStrategy’s well-known Bitcoin accumulation strategy. However, the execution raised concerns from the start.
The company raised capital through share dilutions and convertible notes to fund its Bitcoin purchases. It acquired 5,398 BTC at an average price of approximately $118,000 per coin. As Bitcoin pulled back from those levels, the position moved deeply into the red.
The company now sits on roughly $270 million to $280 million in unrealized losses. Those losses reflect the gap between the average purchase price and current Bitcoin market prices. The timing of the purchases proved costly for shareholders.
Bailey publicly dismissed criticism of the company’s direction. He described outside concerns as noise and maintained confidence in the strategy. Meanwhile, shareholders continued to absorb the financial weight of those decisions.
Related-Party Deals and Share Dilution Deepen the Damage
Beyond Bitcoin losses, a separate transaction drew further scrutiny. Nakamoto used its already-depressed stock to acquire BTC Inc. and UTXO Management. Both companies were also founded by Bailey himself.
The deal issued 363.6 million new shares to complete the acquisition. That issuance nearly doubled the total share count in a single transaction. Existing shareholders saw their stakes reduced significantly as a result.
Short seller Jim Chanos publicly described the transaction as “Theater of the Absurd.” His comment drew attention to the related-party nature of the deal. The transaction benefited entities closely connected to the CEO.
The combination of Bitcoin losses and aggressive dilution created a compounding effect on the stock. Each move reduced shareholder value further. Together, they contributed to one of the sharpest corporate stock declines in recent crypto history.
The Nakamoto Inc. case has drawn attention across the crypto investment community. It raises questions about governance, timing, and the risks of replicating Bitcoin treasury models. Not every company that adopts this approach will produce the same results as MicroStrategy.
OnePay, which is majority-owned by Walmart, has added more than a dozen crypto tokens to its offerings that the executive responsible for digital assets said “meet a high bar” that’s been set by the banking app’s customers.
Since launching in January, offering Bitcoin (BTC) and Ethereum (ETH) on its its nascent crypto platform, OnePay on Thursday added SUI (SUI), Polygon (POL) and Arbitrum (ARB) just days after listing another 10 tokens, including Solana (SOL), , Cardano (ADA), Bitcoin Cash (BCH) and PAX Gold (PAXG).
“We plan on continuing to expand thoughtfully, prioritizing assets that meet a high bar: demand, liquidity, regulatory clarity and long-term utility,” Ron Rojany, OnePay’s general manager, Core App & Crypto, told Cointelegraph in an email.
“We’re less focused on chasing the latest asset and more focused on offering a curated set of assets that align with how our customers actually use and think about their money,” he said.
Rojany would not disclose any figures on crypto adoption among OnePay’s account holders, saying only that the fintech is seeing “strong engagement, particularly among customers who are newer to crypto and are looking for an easy and integrated way to get started.”
OnePay has positioned itself as a US version of a “superapp,” modeled after China’s WeChat. The platform already offers banking services including high-yield savings accounts, credit and debit cards, loans and wireless plans.
The company also offers a digital wallet that customers can use at checkout in Walmart stores and on the retailing giant’s website. The retailing giant’s US operations had net sales of $462.4 billion in fiscal 2025, according to the company’s latest annual report.
“We’re still early and our focus is on building our crypto platform the right way: creating a trusted, safe and intuitive experience for everyday customers,” Rojany said.
Related: BNP Paribas adds six Bitcoin, Ether ETNs for retail clients in France
Fintech pursuit of superapp gets boost from SEC chair
OnePay is not the only company pursuing a financial services superapp. In late September, Coinbase CEO Brian Armstrong outlined plans to build a crypto superapp, offering credit cards, payments and Bitcoin rewards to rival traditional banks.
Earlier this month, Japan’s Startale Group said it would use funding from a recently completed $50 million Series A investment round to develop its superapp to integrate payments, asset management and onchain services into a single platform.
US Securities and Exchange Commission Chairman Paul Atkins in September expressed support for platforms offering multiple financial services under one regulatory framework.
The regulator’s updated strategy includes allowing platforms to operate as “super-apps” that can facilitate trading, lending and staking of digital assets under one regulatory umbrella.
“I have directed the Commission staff to develop further guidance and proposals ultimately to make this ‘super-app’ vision a reality,” Atkins said in July.
Magazine: Bitcoin may take 7 years to upgrade to post-quantum — BIP-360 co-author
Crypto World
Onchain RWA Tops $10 Billion and Tokenized Stocks Hit $1B as Institutional Adoption Grows
TLDR:
- Tokenized stocks crossed the $1 billion mark in Q1 2026, reflecting rapid growth in onchain equity markets.
- Total RWA onchain value surpassed $10 billion, showing broad momentum across multiple tokenized asset classes.
- AI-driven asset intelligence shifted from an optional tool to a core infrastructure requirement for onchain managers.
- Liquidity fragmentation in tokenization remains the most critical and valuable unsolved problem entering Q2 2026.
Tokenized stocks have crossed the $1 billion mark, according to data from blockchain analytics platform rwa.xyz. The milestone arrives as the broader RWA onchain market surpasses $10 billion in total value.
These figures come at the close of Q1 2026, a quarter that saw institutional participation grow at a faster rate than many had expected.
Infrastructure builders are now preparing for what many expect to be a more active second quarter across tokenized asset markets.
Tokenized Stocks Hitting $1B Signals a Broader Market Shift
Tokenized stocks crossing the $1 billion threshold marks a clear turning point in onchain equity markets. Block Street shared the figures on X, sourcing the data directly from rwa.xyz.
The account noted that while the market is “still early,” the pace of growth is clearly accelerating. It also pointed out that the current period represents a foundation-building phase, with real expansion still to come.
The $1 billion figure for tokenized stocks did not arrive in isolation. It came alongside the broader RWA onchain market, surpassing $10 billion in the same reporting window.
Together, these numbers reflect a market that is maturing steadily across multiple asset classes. Allocators who were previously watching from the sidelines are now deploying capital in a more structured and recurring manner.
The speed at which tokenized equities reached this milestone has drawn attention from both institutional and retail corners of the market. Just a few quarters ago, tokenized stocks were still considered an experimental layer within onchain finance.
That perception has shifted noticeably through Q1 2026. The $1 billion mark now serves as a reference point for how quickly this segment can scale when the right infrastructure is in place.
RWA Infrastructure Gaps and AI Tools Take Center Stage in Q2
Orca Prime published a Q1 2026 review at the close of March, identifying three clear patterns from the quarter. Institutional RWA adoption continued to accelerate rather than plateau throughout the period.
AI-driven asset intelligence also moved from a supplementary tool to a core operational requirement for onchain managers.
The account stated that a liquidity infrastructure gap in tokenization remains the most valuable problem currently unsolved in the market.
Each of those three patterns gained further clarity as tokenized stock volumes climbed through the quarter. As more institutional capital entered the space, the need for reliable, automated intelligence around onchain assets became more direct.
Orca Prime described this transition as a structural shift rather than a passing trend. The firm noted that all data points from Q1 pointed consistently in the same direction.
Orca Prime stated it spent Q1 building infrastructure aligned specifically with the liquidity gap it identified. The firm views this problem as the most consequential challenge facing the tokenization market right now.
With tokenized stocks now past the $1 billion level and total RWA on-chain above $10 billion, the pressure to solve liquidity fragmentation is growing.
The account closed its review by framing Q2 as the period where the groundwork laid in Q1 would begin to produce visible results.
Worldcoin’s parent foundation, Sam Altman’s World Foundation, disclosed a $65 million over-the-counter sale of its native WLD token, carried out by its issuance arm World Assets across four counterparties. The first settlement occurred on March 20, with tokens priced at an average around $0.27, suggesting roughly 239 million WLD changed hands. The fund-raising is described by the foundation as supporting core operations, research and development, orb production, and broader ecosystem initiatives.
The sale comes amid a volatile price environment for WLD, which touched an all-time low near $0.24 in the wake of the announcement before recovering to roughly $0.27. From a peak near $11.82 in March 2024, the token has retraced about 97%, underscoring the substantial drawdown since the project’s early hype. Data from CoinMarketCap places WLD around $0.2725 on the latest trading session, up modestly on the day.
Key takeaways
- The World Foundation reports a $65 million OTC token sale, with ~239 million WLD transferred at an average price of about $0.27 across four counterparties and the first settlement on March 20.
- WLD traded briefly at an all-time low around $0.24 before rebounding to roughly $0.27, leaving the token about 97% below its March 2024 peak.
- Of the total sale proceeds, $25 million worth of tokens are subject to a six-month lockup, while the remaining balance is liquid immediately.
- A substantial liquidity event looms: about 52.5% of Worldcoin’s 10 billion total supply is scheduled to unlock on July 23, potentially adding material supply into the market.
- The sale heightens ongoing regulatory scrutiny for World, which has faced licensing and data-handling concerns in multiple jurisdictions, including recent activity in Thailand and past probes in Indonesia, Germany, Kenya, and Brazil.
OTC sale details and strategic aim
World Assets, the token issuance arm of World Foundation, executed the latest round of token distribution across four counterparties, with the first tranche settling on March 20. The reported average price of around $0.27 per token implies that roughly 239 million WLD changed hands in this tranche. The foundation stated on its X platform that the funds will support core operations, R&D, orb manufacturing, and broader ecosystem initiatives that underpin World’s vision for a human-verified AI and digital identity framework.
The size and structure of this sale come after World’s fundraising in May last year, when the project raised $135 million at an indicative price of about $1.13 per token from high-profile backers including Andreessen Horowitz and Bain Capital Crypto. The newer round, priced significantly lower, underscores a shift in market reception and liquidity dynamics since the initial funding surge. The lower price also suggests a different risk and discount environment for early investors versus subsequent participants.
Market response and liquidity dynamics
Following the OTC disclosure, WLD’s price action reflected the broader uncertainty around World’s trajectory and token utility. The brief dip to around $0.24 highlighted the sensitivity to large-scale token movements and unlock schedules that can alter supply quickly. Since then, WLD has hovered near the $0.27 level, signaling that liquidity remains shallow enough for sizable trades to move the market, even as occasional bursts of activity occur.
From an investor perspective, the price action here must be weighed against World’s stated use cases and the speed with which the ecosystem’s optics—such as the World app and agent tooling—can translate into tangible demand. While the token sale funds backstop ongoing development, the market must still assess whether World can generate sustained demand for WLD beyond the incentives of initial distribution rounds.
Upcoming unlocks and potential supply implications
DefiLlama tracks a forthcoming unlock event that stands to reshape the supply equation: approximately 52.5% of Worldcoin’s 10 billion total supply is slated for release on July 23. This implies a potential wave of new WLD entering circulation, which could apply further downward pressure on price absent offsetting demand catalysts. Historically, large unlocks in token projects have led to near-term softness, especially when macro conditions are range-bound or negative for risk assets.
Market participants will be watching how World and its ecosystem partners articulate utility and demand for WLD in the months ahead. The degree to which new applications, integrations, or product milestones mitigate supply pressure will be a key factor in determining whether price declines translate into a more durable valuation floor or simply reflect near-term overhang ahead of July’s unlock.
Regulatory backdrop and global headwinds
The regulatory narrative surrounding World remains complex and eventful. In October of the prior year, Thai regulators raided an iris-scanning site linked to World, prompting investigations by the Securities and Exchange Commission and the Cyber Crime Investigation Bureau over potential licensing violations and biometric data concerns. The Thai episode added to ongoing scrutiny World has faced in other jurisdictions, including Indonesia, Germany, Kenya, and Brazil, where questions around licensing, data handling, and user consent have persisted.
As World continues to expand its footprint with ventures like AgentKit and partnerships (such as Coinbase integration to enable human-verified AI agents), the company faces a delicate balance between advancing its global ambitions and navigating a mosaic of regulatory regimes. The outcome of ongoing inquiries and licensing reviews will likely influence how quickly the project can scale its user base and real-world utility, which in turn bears on WLD’s longer-term value proposition.
A look back and what to watch
The May 2023 fundraising round set a high-water mark for World’s early investor enthusiasm, illustrating the stark contrast between initial euphoria and the current market reality. Today, investors are more focused on execution: can World deliver practical, trustless, human-verified AI tools, a reliable cloud of biometric-enabled identity services, and a robust developer ecosystem that yields durable demand for WLD?
Looking ahead, two factors will shape the near-term trajectory. First, the July 23 unlock will test how the market absorbs a large influx of supply amid uncertain near-term demand. Second, regulatory developments—ranging from licensing clarifications to data-protection safeguards—will influence World’s ability to operate in key markets and attract enterprise users. If World can demonstrate clear, privacy-conscious value with widespread adoption, WLD could begin to trade with more than a purely speculative impulse. Until then, price action is likely to remain sensitive to new updates, regulatory signals, and the cadence of product milestones.
In the near term, readers should monitor World’s public disclosures, upcoming product launches, and any additional strategic partnerships that can translate into tangible demand for WLD. Regulatory clarity and the pace of ecosystem development will likely be the decisive factors in determining whether Worldcoin can reframe its narrative from one of ambitious tech ambitions to a widely adopted, privacy-conscious identity layer.
TLDR:
- Bitcoin lacks a central body to coordinate a quantum-proof upgrade, making the transition socially and technically difficult.
- Around 1.7 million inaccessible BTC face quantum theft risk, forcing miners to choose between freezing or losing those coins.
- Bitcoin’s declining block subsidy raises long-term security concerns, as transaction fees are unlikely to fill the funding gap.
- Ethereum’s proof-of-stake model and Foundation coordination give it structural advantages over Bitcoin in security and adaptability.
Bitcoin’s long-term viability is under scrutiny as three structural problems emerge around quantum resistance, inaccessible coins, and economic security.
These concerns have resurfaced in crypto discussions, with analysts comparing the two largest networks. While Bitcoin remains the dominant digital asset by market cap, some observers believe Ethereum’s design choices may position it more favorably over time.
The debate has reignited questions about governance, adaptability, and the future balance of power between the two networks.
Bitcoin’s Quantum and Governance Problems Draw Fresh Attention
Bitcoin’s decentralized structure, often praised as a strength, may complicate its quantum upgrade. Unlike Ethereum, Bitcoin lacks a central coordinating body to manage such a technical shift. Its conservative culture makes large-scale protocol changes socially difficult to push through.
Crypto analyst John Galt raised this concern directly on X, noting that “Bitcoin has no central entity to coordinate the quantum upgrade.” He added that Bitcoin’s culture makes big changes “socially very difficult.” This cultural resistance could slow necessary adaptations.
The inaccessible coin problem adds another layer of complexity. Around 1.7 million BTC are presumed lost or inaccessible, making them vulnerable once quantum computing matures. Moving these coins to quantum-proof addresses requires owner action, which is impossible for lost holdings.
This creates a binary dilemma: miners could freeze those coins, or quantum hackers could eventually claim them. Either outcome risks fracturing the Bitcoin community. Galt compared the potential fallout to the block size war, which split the network years ago.
Ethereum’s Design Offers Structural Solutions, Analysts Argue
Ethereum’s approach to quantum readiness differs significantly from Bitcoin’s. The Ethereum Foundation can coordinate protocol upgrades more efficiently. Additionally, far fewer ETH are presumed inaccessible, reducing the quantum vulnerability gap.
On the economic security front, Bitcoin’s block subsidy will continue declining over successive halving cycles. Transaction fees alone are not expected to replace that subsidy reliably. This raises long-term questions about miner incentives and network security.
Ethereum, meanwhile, transitioned to proof-of-stake, which removes dependence on mining subsidies entirely. Galt noted that “the economic security problem is solved with PoS and effective tail emissions.” This structural difference could matter more as both networks age.
Culturally, the two ecosystems are also shifting in opposite directions, according to Galt. He pointed to Michael Saylor’s growing influence as a force reshaping Bitcoin’s culture toward institutional conservatism. By contrast, the recent Ethereum Foundation manifesto signaled a more cypherpunk direction.
Galt concluded that these combined factors could drive ETH to gain ground against BTC in the coming years. He framed the current ETH valuation as comparable to buying BTC at $12,200, citing relative market caps. Whether that comparison holds will depend on how each network navigates these structural pressures.
Bitcoin challenges the conventional wisdom of institutional custody. As a bearer asset, its security model hinges on cryptographic keys rather than account credentials, and every on-chain transaction is final. That fundamental design—one where there is no central authority that can reverse, freeze, or recover funds—forces a rethink of how institutions should hold and govern large crypto positions. In this perspective, Kevin Loaec, CEO of Wizardsardine, argues that policy-driven, on-chain custody offers a more resilient framework than traditional custodial outsourcing, which often hides risk behind insurance and service-level agreements.
Loaec maintains that outsourcing risk to large custodians creates a hidden concentration of risk: assets pooled under a single governance umbrella, guarded by layers of internal controls, with off-chain governance and policy enforcement. When trouble hits, the absence of on-chain, protocol-enforced constraints can complicate recovery and liquidation. The result, he says, is a mismatch between the safety institutions expect from custodians and the actual safety Bitcoin beneficiaries gain from controlling the asset directly on the blockchain.
Key takeaways
- Bitcoin’s bearer-asset nature means control is located in cryptographic keys, not in multi-party account permissions, making external intervention impossible once funds move on-chain.
- Policy-driven, on-chain custody can embed governance into the wallet itself—requiring multi-signature approvals, time delays, and defined recovery paths that are executed deterministically by code.
- Traditional custodial insurance often comes with caps, exclusions, and conditional payouts; on-chain custody can offer a more transparent and bounded risk model for insurers and clients alike.
- Vendor dependence introduces outages, withdrawal freezes, and access restrictions that can impede timely actions; open, on-chain custody helps preserve access even if a service provider falters.
- Institutions should reassess custody architecture to align risk management with the protocol’s guarantees, moving away from the illusion of safety toward engineered resilience.
Rethinking custody: from delegated control to protocol-level governance
Traditional finance treats custody as a delegated responsibility: assets are held by a large, regulated custodian, and responsibility for risk management is externalized through contracts, insurance, and service-level commitments. In Bitcoin, however, governance cannot be outsourced in the same way. Keys hold the asset, and the network enforces the rules; there is no central authority that can step in if something goes wrong off-chain.
Loaec notes that when institutions pool keys or rely on shared access models, they inadvertently create concentrated risk points. A single compromised key, misconfiguration, or a regulatory action affecting the custodian can jeopardize many parties at once. History provides cautionary examples where centralization in custody led to lengthy recovery processes and opaque outcomes for creditors and users alike. The argument is not to abandon custodians entirely, but to reframe governance so that the asset itself—via the protocol—enforces the rules of control, authorization, and recovery.
What changes, then, is not the need for robust service providers, but the architecture of control. If governance lives outside the asset, it remains vulnerable to external shocks, audits, and updates that may not align with a custodian’s business cycle. Embedding governance into the wallet, on-chain, makes the controls resilient to provider-specific failures and shifts risk toward systems that can be audited, tested, and iterated independently of any single institution.
Policy-driven custody: enforcing rules at the protocol level
The core idea is practical: Bitcoin scripting enables custody models that reflect real organizational needs. Multisignature schemes can require several stakeholders to approve transactions, preventing unilateral movements. Time-delayed spending features can create a window for review, accident recovery, or dispute resolution. Recovery paths for lost keys can be encoded so that funds remain recoverable under predefined conditions, without exposing the asset to a single point of failure.
In effect, policy-driven wallets separate daily operations from emergency controls, while ensuring that the enforcement mechanism remains transparent and deterministic. These capabilities are not theoretical—on-chain rules operate independently of any service provider’s back-end or a particular vendor’s interface. The result is a governance model that is structural rather than procedural: the network enforces the rules, not a custodial dashboard.
As such, institutions can design custody that aligns with their internal risk appetite and regulatory expectations, without relying solely on external assurances. This shift does not eliminate the need for sound risk management or for prudent risk transfer tools, but it reframes what “control” means in a way that is more faithful to Bitcoin’s mechanics.
Insurance and risk transfer: rethinking the safety net
Custodial insurance has long been pitched as the ultimate safeguard against losses. Yet, Loaec emphasizes that coverage is frequently capped, conditional, or subject to exclusions, with payouts depending on the specifics of an incident and the custodian’s internal controls. In practice, insurance often distributes a portion of risk rather than eliminating it entirely. This dynamic can leave clients exposed in systemic events or scenarios where coverage does not scale proportionally with assets under custody.
By contrast, individually controlled, policy-driven wallets offer a more predictable underwriting landscape. When risk is bounded and controls are transparent, insurers can model exposure more accurately, and risk remains tied to well-defined on-chain rules. The insurance narrative, therefore, should be understood as a complement—not a substitute—for robust, on-chain governance. The aim is to reduce reliance on external guarantees and to ensure that the most critical risk controls live on the asset itself.
Historical episodes underscore the tension between custodial trust and real-world outcomes. Notable episodes, including the FTX collapse and other centralized-brokerage stress events, have exposed the fragility of relying solely on third parties for asset safety and access. These events have fed the argument for reimagining custody through on-chain policy, where safeguards are built into the protocol and verification occurs in a verifiable, auditable manner.
Sovereignty is operational, not philosophical
Vendor dependence introduces another layer of operational risk that institutions may underestimate. Custodial outages, shifting policies, or regulatory interventions can render funds temporarily inaccessible, complicating cross-border operations or time-sensitive actions. In the wake of withdrawal freezes and access restrictions seen in past episodes, the case for a governance model anchored in the asset itself grows stronger.
Open-source custody systems paired with on-chain control offer a different risk landscape. If a service provider disappears or alters interfaces, the asset remains accessible because control resides on the blockchain. Interfaces may evolve or providers may be replaced, but the asset’s operability endures. This is not a blanket rejection of custodians, but a call to reduce their centrality in the critical path of asset control and to rely more on protocol-level guarantees.
Trust the protocol, not the promise
Bitcoin presents a rare asset class where governance, recoverability, and control can be designed into the holding mechanism itself. In practice, many institutions still default to login screens, brand reputations, or insurance narratives as proxies for safety. While those signals carry comfort, they do not replace the certainty offered by on-chain rules that are independent of any single counterparty.
The critique is not anti‑custodian; it is anti‑risk management by proxy. By adopting policy-driven wallets and on-chain governance, institutions can reduce the likelihood of catastrophic failure in the first place, rather than relying on post hoc compensation after a breach. The technology to enact this shift exists today, supported by mature tooling and a growing ecosystem of practitioners focused on designing custody that aligns with Bitcoin’s native security model. What remains is the willingness to move beyond custody models rooted in another financial era.
By Kevin Loaec, CEO of Wizardsardine.
For readers tracking the broader implications, the industry has precedent in centralized custody failures and the ongoing debate over how best to align risk management with the decentralized realities of crypto markets. The path forward involves a measured blend of on-chain governance design, prudent risk transfer where appropriate, and a clear understanding that trust in the protocol must come before trust in any single service provider.
Yes, you read the title right. The number of bullish bitcoin wagers, the so-called BTC/USD long positions, on the OG exchange Bitfinex has hit multi-month highs.
But, bulls, hold your cheers, as this metric has become a textbook “contrary indicator” over the years, with upswings characterizing bitcoin’s price downtrends.
Highest since 2023
The number of BTC/USD longs has increased to 79,343, the highest since November 2023, according to data source CoinDesk.
Rising bullish bets usually signal growing upside pressure – a positive read. But historically, the market has done the exact opposite, falling just as Mother Nature turns sunny forecasts into storms.
For instance, the number of BTC/USD longs rose 30% in the final quarter of 2025 as BTC’s spot price tanked 23% to $87,550. Similar patterns have been observed in recent years, as seen below.
BTC’s price bottoms when Bitfinex longs peak – and rallies as they decline. Price tops (like October) hit when longs bottom out, then prices slide as longs climb.
Analysts have previously explained this conundrum by saying the crowd is usually clueless, so bet against them.
So, the latest uptick in longs suggests that bitcoin’s choppy price action between $65,000 and $75,000 could soon end with a sell-off, deepening the downtrend that began above $100,000 last year. It goes without saying that past results are no guarantee of future results.
That said, other factors, such as reports that the U.S. is planning to deploy troops to the ongoing war in Iran, the oil price shock, and fears of a Fed rate hike, also favour the bearish case.
At press time, bitcoin traded around $66,400, according to CoinDesk data.
TLDR:
- Gnosis and Zisk launched the EEZ at EthCC Cannes, co-funded by the Ethereum Foundation in March 2026.
- The EEZ framework enables synchronous composability between Ethereum mainnet and connected L2 rollups.
- Zisk’s real-time ZKVM can prove Ethereum blocks instantly, making cross-rollup composability technically viable.
- Founding members include Aave, Titan, Beaver Build, Centrifuge, and xStocks under a Swiss non-profit structure.
Gnosis co-founder Friederike Ernst and Zisk founder Jordi Baylina unveiled the Ethereum Economic Zone (EEZ) at EthCC in Cannes on Sunday.
The initiative, co-funded by the Ethereum Foundation, introduces a rollup framework enabling synchronous composability between Ethereum’s mainnet and connected Layer 2 networks.
Founding members include Aave, block builders Titan and Beaver Build, real-world asset platform Centrifuge, and tokenized equities project xStocks.
EEZ Targets Ethereum’s Growing Fragmentation Problem
The Ethereum Economic Zone is built to solve a persistent issue in the ecosystem. Each new L2 chain that launches creates its own liquidity pool and bridge, effectively walling off users and assets. Ernst addressed this directly during the announcement in Cannes.
“Ethereum doesn’t have a scaling problem. It has a fragmentation problem,” Ernst said. “Every new L2 that launches with its own liquidity pool and its own bridge is another walled garden.”
The EEZ framework allows smart contracts on connected rollups to call contracts on mainnet. These calls carry the same guarantees as if they were deployed on Ethereum itself. ETH serves as the default gas token, and no additional bridging infrastructure is required.
As reported by The Block in 2024, a new Ethereum L2 was appearing roughly every 19 days. The Block’s 2026 L2 outlook further noted that most new chains became ghost towns after incentive cycles ended. Activity concentrated around a small number of ecosystems, while fragmentation deepened.
The EEZ enters a competitive field of interoperability efforts. Optimism’s Superchain, Polygon’s AggLayer, and the Ethereum Foundation’s own Interop Layer — unveiled in November 2025 — are all pursuing similar goals. The =nil; Foundation is also working on a zkSharding-based approach to chain coordination.
Real-Time ZK Proving Powers the Technical Case
What sets the EEZ apart, according to its founders, is real-time zero-knowledge proving. Baylina created the Circom programming language and co-founded Polygon zkEVM before spinning off his team into Zisk last June. His proving stack is the core enabling technology behind the framework.
Baylina made a direct case for the technology’s maturity during the EthCC presentation. “We spent two years building a ZKVM that can prove Ethereum blocks in real time,” he said.
“Synchronous composability between rollups isn’t theoretical anymore.” This positions the EEZ as technically distinct from competing interoperability proposals.
GnosisDAO governance records from February 2026 show the community had already been debating a six-month R&D collaboration with Baylina.
The goal was to explore converting Gnosis Chain into a natively integrated Ethereum L2. The EEZ appears to be the direct product of that process.
The Ethereum Foundation’s decision to co-fund the project is notable given its recent spending cuts. The Foundation paused its open grants program in mid-2025 and trimmed its burn rate to around 5% per year.
Co-executive directors Hsiao-Wei Wang and Tomasz K. Stańczak have named L2 interoperability as a priority, making the EEZ a natural fit. The project will be structured as a Swiss non-profit, with all software released as free and open-source.
Morgan Stanley just priced its upcoming spot Bitcoin ETF at a record-low 0.14%, undercutting both Grayscale and BlackRock. With 16,000 financial advisors managing $6.2 trillion now fully incentivized to recommend Bitcoin, a massive institutional fee war is brewing.
While this makes Bitcoin cheaper for millions, compressing margins on an established asset won’t deliver a 100x return. True asymmetric upside happens during price discovery.
That is exactly why aggressive, crypto-native investors are securing their allocations in DeepSnitch AI. You have exactly two days until the March 31st DeepSnitch AI presale launch date arrives.
Morgan Stanley sets 0.14% Bitcoin ETF fee
Morgan Stanley just filed for a spot Bitcoin ETF with a market-crushing 0.14% fee. By directly undercutting titans like BlackRock, they are weaponizing their 16,000 financial advisors to push Bitcoin to $6.2 trillion in client assets without any fee conflicts.
This impending fee war will make Bitcoin ownership significantly cheaper overnight. However, while institutional adoption mainstreams the asset, it primarily compresses margins, it doesn’t create a 100x opportunity.
True asymmetric upside now migrates to early-stage intelligence platforms like DeepSnitch AI, capturing the explosive growth that conservative wealth management advisors will never approve for a client portfolio.
Top 3 cryptocurrencies to buy in 2026
DeepSnitch AI
Morgan Stanley’s 16,000 advisors are preparing to recommend Bitcoin ETFs to their $6.2 trillion client base. While this massive distribution event makes Bitcoin ownership highly accessible, it will not deliver a 100x return. Institutional adoption stabilizes assets; it doesn’t exponentially multiply them.
DeepSnitch AI (DSNT) is built for investors who demand more than a safe, fee-optimized ETF recommendation. While Wall Street builds distribution channels for assets the market already understands, DeepSnitch’s five specialized AI agents hunt for early-stage, high-potential projects that conservative compliance departments will never approve.
This platform completely closes the retail information gap. From a single, unified dashboard, investors can evaluate complex project risks, track hidden whale activity, and position themselves ahead of major market moves. You essentially gain a tireless, institutional-grade research assistant surfacing opportunities before they ever make mainstream headlines.
Currently priced at $0.04669, DSNT has attracted serious attention from analysts projecting massive upside upon its public launch. True wealth generation in crypto requires discovering utility before the masses do, and DeepSnitch AI delivers exactly that.
With the DeepSnitch AI presale launch date hitting on March 31st, this ground-floor entry opportunity is rapidly closing.
Hyperliquid
Hyperliquid traded near $38.27 on March 27, flashing two severe technical warnings that converge on a highly bearish near-term setup. The ultimate danger lies at the $35.03 support level.
A massive $27.36 million in long liquidations is stacked precisely at $35.03. Because the zone between $38 and $35 is dangerously thin, the price could easily slice through with zero friction, triggering a devastating cascade of forced closures.
Furthermore, a confirmed double top projects a brutal 37% collapse toward $21.64 unless bulls can urgently reclaim $38.80 to stabilize the structure.
While Hyperliquid traders nervously pray their support levels hold, DeepSnitch AI (DSNT) offers a fundamentally different setup. With the $0.04669 presale price definitively closing on March 31st, DSNT’s asymmetric upside doesn’t require a technical floor to survive.
Pi Network
Pi Coin traded near $0.178 on March 27, pressing against the 0.236 Fibonacci resistance at $0.189. Alarmingly, on-chain indicators are mirroring the exact sequential decline that triggered a brutal 38% collapse in December 2025.
The Chaikin Money Flow (CMF) is the most glaring warning. After peaking near 0.30 in mid-March, it has plunged to -0.11, perfectly echoing the December crash before CMF bottomed out.
With the Money Flow Index (MFI) declining at 35.23, history shows that oversold conditions might not trigger a reversal. A confirmed double top projects a 33% decline toward Pi’s $0.130 all-time low unless bulls can urgently reclaim $0.210.
Closing thoughts
Morgan Stanley just slashed its upcoming Bitcoin ETF fee to a record-low 0.14%. With 16,000 advisors managing $6.2 trillion in assets, this massive distribution milestone makes Bitcoin cheaper for millions. But let’s be candid, institutional stabilization won’t deliver a 100x return.
DeepSnitch AI offers a fundamentally different opportunity. At $0.04669, its live AI dashboard is already helping retail investors track whale movements and audit contracts.
While Wall Street optimizes fees for legacy assets, DeepSnitch democratizes institutional-grade intelligence for the masses. You have exactly two days before the DeepSnitch AI presale launch date on March 31st permanently closes this ground-floor opportunity.
Visit the official DeepSnitch AI website, join Telegram, and follow on X for more updates.
FAQs
When is the DeepSnitch AI launch date, and what price are analysts projecting post-listing?
The DeepSnitch AI presale launch date is March 31st on Uniswap, hours away. Analysts project a 100x move to $4, with $2.6M raised and 210% presale gains already locked in.
Why does the DeepSnitch AI listing date matter more than Morgan Stanley’s Bitcoin ETF fee war?
Morgan Stanley’s 0.14% fee makes Bitcoin ETF ownership marginally cheaper for $6.2 trillion in wealth management assets. The DeepSnitch AI presale launch date offers 100x potential from a live platform that finds the early-stage opportunities Morgan Stanley’s advisors will never recommend.
What should investors secure before the DeepSnitch AI release date closes the presale window permanently?
Entry at $0.04669 with active bonus codes, five live AI agents already running in real market conditions, and a Uniswap listing hours away. After the DeepSnitch AI presale launch date, the only entry point is the open market, and it will not look anything like what is available right now.
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.
Crypto World
Pendle Joins Wall Street Giants to Shape Vietnam’s International Financial Center Future
TLDR:
- Pendle’s TN Lee represented DeFi alongside Wall Street giants at Vietnam’s Deputy Prime Minister meeting in New York.
- Vietnam is building sandbox models for both permissioned and permissionless tokenized assets to attract global capital.
- Tokenized bonds, ETFs, and private credit were central to discussions about Vietnam’s emerging financial infrastructure.
- Pendle’s inclusion signals DeFi protocols now hold a credible seat at the highest institutional financial policy tables.
Pendle joined some of Wall Street’s most powerful institutions to shape Vietnam’s financial future. TN Lee represented the protocol in New York alongside Deutsche Bank, Morgan Stanley, BlackRock, Franklin Templeton, and Anchorage Digital.
The delegation met with Vietnam’s Deputy Prime Minister to discuss the country’s ambitions for an International Financial Center. The meeting positioned Pendle as a credible voice for decentralized finance at the highest institutional levels.
Wall Street and DeFi Unite Around Vietnam’s Tokenization Potential
Pendle’s inclusion in the New York delegation alongside Wall Street’s biggest names was far from accidental. Vietnam’s leadership deliberately assembled a group spanning both traditional finance and emerging digital asset sectors.
The goal was to build a comprehensive case for Vietnam as a next-generation financial hub. That mix of institutions signals a broad and serious commitment to the country’s financial development.
TN Lee spoke directly to Vietnam’s potential as a market for tokenized bonds, ETFs, and private credit. As noted by @pendle_fi, Lee also made a strong case for the depth of talent Vietnam has to offer.
These points landed before an audience of institutional heavyweights rarely found in the same room as DeFi protocols. The moment reflected how significantly the tokenization conversation has shifted within mainstream finance.
Vietnam’s government is actively constructing the regulatory infrastructure to match its ambitions. Sandbox models covering both permissioned and permissionless assets are currently on the table.
That dual approach reflects a measured yet forward-thinking posture toward digital financial markets. Wall Street institutions present in the room clearly responded to this structured regulatory direction.
The meeting also reinforced that Vietnam is not simply watching the tokenization trend from a distance. Its leadership is making deliberate and targeted moves to attract global financial partners.
Bringing together Deutsche Bank, BlackRock, and Pendle under one policy conversation shows the breadth of that strategy. Each institution brings a different layer to what Vietnam is trying to build.
Pendle Positions Itself as DeFi’s Voice in Institutional Finance Discussions
Pendle’s seat at the table alongside Wall Street giants marked a turning point for DeFi’s role in formal financial policy. Traditional institutions have long dominated these high-level government discussions, without representation from blockchain.
That dynamic shifted visibly in New York when TN Lee addressed Vietnam’s Deputy Prime Minister directly. It established Pendle not just as a participant but as an advocate for the entire DeFi sector.
According to @pendle_fi, the protocol views Vietnam’s brightest days in decentralized finance as still ahead. That long-term perspective aligns with how Wall Street institutions typically approach emerging market opportunities.
Pendle is not entering Vietnam for short-term positioning but for sustained strategic involvement. This approach mirrors the patient capital mindset that major financial institutions bring to frontier markets.
Vietnam’s talent base emerged as a recurring point throughout the delegation’s discussions in New York. Skilled professionals across blockchain, finance, and technology are already driving adoption within the country.
That human capital argument carries significant weight with institutions assessing long-term market viability. Wall Street partners look beyond regulation to the people who will ultimately build and operate these systems.
Moving forward, the sandbox frameworks Vietnam develops will determine how quickly tokenized products reach the market. Pendle is already embedded in that process as an early and active participant.
Its presence alongside Morgan Stanley, Franklin Templeton, and Anchorage Digital has set a clear precedent. DeFi protocols can and will play a role in shaping the financial infrastructure of tomorrow’s emerging markets.
The Canadian government has moved to formally ban political donations made in crypto.
Filed March 26 as part of Bill C-25, the amendment to the Canada Elections Act aims to permanently close potential channels for untraceable foreign funding.
Canada Proposes Severe Penalties Up to $100,000 for Defaulters
The legislation prohibits cryptocurrency contributions for partisan activities, advertising, and election surveys. The ban is also being extended to money orders and prepaid payment products due to traceability concerns.
“No chief agent of a registered party, financial agent of a registered association, official agent of a candidate or financial agent of a nomination contestant or leadership contestant shall accept a contribution that is in the form of [digital assets],” the filing stated.
The ban blankets the entire political ecosystem, including parties, associations, candidates, leadership campaigns, and third parties.
Under the new rules, political agents must return any cryptocurrency donation to the contributor or destroy the asset within 30 days.
If the assets cannot be returned, third parties are required to liquidate them into fiat currency and surrender the funds to the chief electoral officer, who will then forward the amount to the Receiver General for Canada.
The penalties for noncompliance are severe. Violators who knowingly accept crypto donations face fines reaching twice the value of the offending contribution. Corporations involved in these activities face an even stiffer penalty: an automatic $100,000 fine in addition to the double-value penalty.
Meanwhile, Canada’s policy shift is not occurring in a vacuum. The legislation closely mirrors a recent UK government move to ban cryptocurrency donations to political parties.
These countries’ moves stand in stark contrast to the United States, where the crypto lobby has entirely financialized the political landscape.
The US crypto industry has already deployed over $273 million to influence the outcome of the forthcoming midterm elections, according to data tracked by Follow The Crypto.
The divergence highlights a fundamental difference in political mechanics. In the US, crypto heavyweights like Coinbase and the Fairshake super PAC are using their corporate war chests to run sophisticated ad campaigns backing pro-crypto candidates.
If passed, Bill C-25 ensures Canada’s electoral system will remain firmly insulated from the digital asset arms race currently defining its southern neighbor.
The post Canada Moves to Shut Crypto Out of Election Financing appeared first on BeInCrypto.
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