Flare’s FIP.16 plan would capture MEV at the base layer, slash FLR inflation to 3% and route new revenues through FIRE into buybacks and aggressive token burns.

Flare has tabled a sweeping governance proposal that would make it one of the first layer-1s to capture maximal extractable value (MEV) directly at the protocol level while cutting annual FLR inflation by 40% to 3%.

In its FIP.16 proposal, the Flare Foundation said the model is designed so that “network usage directly connects to token value,” with MEV and other fees routed into FLR buybacks and burns instead of going to external searchers and private builders.

Under the three-stage redesign, block building would first shift from individual validators to a designated builder run by the Flare Entity, then move into Flare Confidential Compute for public auditability, before finally merging builder and proposer roles and relegating existing validators to verification.

The proposal creates the Flare Income Reinvestment Entity (FIRE), which will “collect revenue from multiple protocol sources including attestation fees, FAsset and Smart Account fees, confidential compute fees and the captured MEV,” before using it to buy and burn FLR on the open market.

If approved, FIP.16 would immediately drop FLR inflation from 5% to 3% and lower the annual issuance cap from 5 billion to 3 billion tokens, a move Binance Square summarized as “a 40% decrease” in the network’s inflation rate.

Flare also plans a 20-fold jump in its base gas fee, from 60 gwei to 1,200 gwei, a change various analyses estimate would lift annual FLR burns from roughly 7.5 million tokens to about 300 million at current activity, even as a typical transaction “would cost a fraction of a cent.”

According to CoinDesk, the network is pitching protocol-level MEV capture as a way to claw back what it calls “a hidden tax on ordinary users” and recycle it into long-term token value instead of allowing front‑running and sandwich bots to hoard the upside.

Flare’s tokenomics overhaul lands as the network reports more than $160 million in total value locked, over 880,000 active addresses and around 150 million FXRP minted to bring smart contracts to XRP, with its initial FLR distribution having gone to XRP holders in 2023.

As of April 17, 2026, XRP is trading around $1.47, while FLR changes hands near $0.009, underscoring the smaller network’s bet that tighter inflation and protocol-owned MEV can help close the value gap with larger ecosystems anchored by assets like XRP.

In the broader market, the move echoes debates on Ethereum and other chains over whether MEV should remain the domain of specialized actors or be socialized via mechanisms such as protocol-owned builders and burn‑linked fee designs, a question Flare now wants token holders to settle in its upcoming FIP.16 vote.

Circle’s new USDC Bridge aims to turn cross‑chain transfers into a near‑invisible backend plumbing layer for on‑chain dollars, replacing fragmented bridges with a single bank‑style ledger experience operated end‑to‑end by Circle itself.

Circle has rolled out a native USDC Bridge that lets users burn USDC on a source chain and mint it natively on a destination chain, with all routing and gas management handled by Circle. In its materials on the Cross‑Chain Transfer Protocol, Circle says the system is designed to “enable USDC to flow natively 1:1 between blockchains—unifying liquidity and simplifying user experience,” explicitly eliminating third‑party bridge liquidity pools and wrapped tokens.

Built on top of CCTP’s burn‑and‑mint architecture, the new bridge effectively makes moving USDC between chains feel like shifting balances inside one ledger rather than hopping across multiple bridges and wrappers. A technical explainer of CCTP describes how “a sender deposits USDC for burn on the source network” before Circle’s attestation service authorizes minting the same amount on the destination chain, removing the smart‑contract risk that plagued earlier wrapped‑asset bridges.

Circle’s upgrade lands as stablecoins solidify their role as the de facto settlement rail of crypto and, increasingly, institutional finance. According to one industry analysis, stablecoins processed about $33 trillion of transactions in 2025, more than double Visa’s annual volume, with Circle’s USDC alone moving roughly $8.3 trillion in January 2026.

That flow sits on top of a growing technical footprint: separate data shows USDC and CCTP now support native USDC across 32 blockchains, with burn‑and‑mint transfers live on 21 networks. A recent post on cross‑chain settlements estimates “over $20 billion in monthly cross‑chain volume” now runs over USDC using CCTP, underscoring how much real money is already riding on Circle‑operated rails.

Circle has also started to consolidate those flows with infrastructure like Gateway and the Arc environment, which it describes as a way to “consolidate those crosschain flows into a unified USDC balance” and move from “multi‑chain balance reconciliation to deterministic, high‑speed settlement.” In parallel, projects like World Chain are upgrading millions of wallets from bridged to native USDC via CCTP, turning previously fragmented liquidity into fully reserved, directly redeemable digital dollars.

In earlier crypto.news coverage of Circle’s CCTP upgrade, the company highlighted that CCTP v2 cuts cross‑chain USDC settlement to seconds, positioning USDC not just as another stablecoin but as programmable settlement plumbing for everything from perpetual DEXs to consumer apps. As on‑chain stablecoin transaction velocity accelerates and demand for new issuance flattens, the game shifts from printing more tokens to owning the rails through which dollars actually move—and Circle’s USDC Bridge is a direct play for that choke point in the crypto economy.

France’s finance minister backs bank‑issued euro stablecoins and Qivalis’ 2026 launch, pivoting policy to keep Europe’s digital rails denominated in euros, not dollars.

France’s finance minister Roland Lescure has publicly called for more euro‑denominated stablecoins and urged European banks to move ahead with tokenized deposits, signaling a sharp policy pivot in Paris toward bank‑issued digital euros. Speaking at a crypto conference in Paris on April 17, Lescure said the current volume of euro‑pegged stablecoins versus dollar tokens is “not satisfactory” and warned that Europe cannot leave its digital payment rails to foreign currencies. His remarks come as the Qivalis alliance of 12 major European banks, including ING, UniCredit, BBVA and BNP Paribas, prepares a MiCA‑compliant euro stablecoin for launch in the second half of 2026.finance.

Lescure told attendees that “Europe need[s] more euro‑based stablecoins” and said he “strongly encourage[s] banks to further explore the launch of tokenised deposits,” framing the projects as tools to strengthen European digital sovereignty and reduce reliance on dollar‑pegged tokens. He explicitly endorsed the Qivalis initiative, saying “that is what we need and that is what we want,” in what is effectively a political green light for the consortium’s plans to issue a euro‑pegged stablecoin under the EU’s Markets in Crypto‑Assets, or MiCA, framework.

Qivalis, based in Amsterdam, is working toward regulatory approval from the Dutch central bank and aims to operate as an electronic money institution, with CEO Jan‑Oliver Sell calling a native euro stablecoin “a major turning point for digital commerce and financial innovation in Europe.” The group’s stated goal is to become the “interface between blockchain and the euro” and the default euro token across exchanges, custodians and DeFi platforms, a direct attempt to head off “digital dollarization” from dollar‑linked tokens like USDT and USDC.

Lescure’s comments also land against a tougher French line on non‑euro stablecoins, with the Bank of France recently calling for stricter limits on foreign stablecoin payments under MiCA to mitigate systemic risk. European regulators have warned that widespread use of non‑EU stablecoins inside the bloc could undermine monetary policy, pushing authorities to explore ways of tightening rules on large dollar‑based tokens even as they open the door to euro projects.

The broader European shift is already visible across the banking sector, with euro stablecoin projects moving from “education and risk‑understanding” into concrete launch preparations as MiCA’s unified regime reduces regulatory uncertainty. For France, backing Qivalis and euro stablecoins is an attempt to ensure that when on‑chain settlement volumes rival traditional card networks, it is the euro—rather than the dollar—that anchors European rails, in both payments and tokenized assets.

Related crypto.news coverage includes a recent story on how stablecoins are tipped to power global settlement, an explainer on what infrastructure companies use to add stablecoin payments, and a regional look at how firms like Stables and Mansa are stitching together Asia’s missing stablecoin rails.

Kraken parent Payward will buy Bitnomial for up to $550M, adding a full CFTC derivatives stack just as Deutsche Börse’s $200M stake backs its U.S. build‑out.

Payward Inc., the parent company of crypto exchange Kraken, has agreed to acquire Chicago‑based crypto derivatives venue Bitnomial in a deal worth up to $550 million in cash and stock, further accelerating its push into U.S. regulated futures and options. The companies expect the transaction to close in the first half of 2026, subject to customary regulatory approvals from the Commodity Futures Trading Commission (CFTC) and other U.S. authorities.

Bitnomial is the first crypto‑native operator to assemble the full CFTC derivatives stack, running a Designated Contract Market, a Derivatives Clearing Organization and a Futures Commission Merchant under one roof. According to Bitnomial’s own materials, its exchange and clearinghouse support “leveraged spot, perpetuals, futures, options, and prediction markets, all on one CFTC‑regulated exchange with crypto margin and settlement,” giving Payward an immediate onshore home for products that previously leaned on offshore venues.

Under the plan, Payward will plug Bitnomial’s trading and clearing infrastructure into Kraken, NinjaTrader and Payward Services, offering banks, brokerages and fintechs a single API into CFTC‑regulated crypto derivatives. Kraken has already been expanding in this direction; in a prior crypto.news story it acquired CFTC‑regulated Small Exchange for about $100 million to secure a DCM license, and later used that footprint to launch U.S. regulated derivatives tied to CME‑listed futures.

The Bitnomial deal lands just days after German exchange operator Deutsche Börse agreed to buy a 1.5% fully diluted stake in Payward for $200 million, in a transaction that values Kraken at roughly $13.3 billion. Deutsche Börse said the partnership is meant to “deepen” its role in regulated crypto, tokenized markets and derivatives, with a focus on “enhanced liquidity for institutional clients across geographies,” effectively giving Europe’s largest exchange group a front‑row seat in Kraken’s derivatives build‑out.

Regulators have also been preparing the ground for this shift. CFTC Commissioner Caroline Pham has pushed to bring leveraged spot crypto trading and perpetual‑style products onshore under full DCM and DCO oversight, arguing they can be offered safely if “brought into our markets under well‑defined rules and supervision.” In that context, Bitnomial’s December 2025 launch of the first‑ever leveraged retail spot crypto market under CFTC jurisdiction — which CEO Luke Hoersten called “a watershed moment for U.S. crypto markets” — looks like a dress rehearsal for the infrastructure Payward is now buying.

For institutional order flow, the battle increasingly turns on who controls the cleanest regulatory pipe: the combination of licenses, clearing and prime‑style services that let banks and asset managers trade crypto derivatives without touching offshore platforms. With Bitnomial’s stack and Deutsche Börse’s capital, Payward is positioning Kraken as a CME‑style hub for digital asset futures, options and leveraged spot inside the U.S., echoing its broader strategy to bridge tokenized assets, equities and derivatives through initiatives like its xStocks platform.

In addition, Kraken’s derivatives and market‑structure push includes stories on its U.S. derivatives rollout, the Small Exchange acquisition, and Deutsche Börse’s $200 million stake in Payward.

SEC Chair Paul Atkins launches “Material Matters,” with Hester Peirce and Mark Uyeda using the debut to pitch a more pro‑innovation crypto stance and clearer rulemaking.

The U.S. Securities and Exchange Commission has rolled out “Material Matters with SEC Chairman Paul Atkins,” a new official podcast the chair says will give the public “an inside look at the SEC’s vital work and its implications for our economy.” The first episode, released on April 15, features Commissioners Mark Uyeda and Hester Peirce outlining 2026 priorities.

SEC leans into ‘Material Matters’ and innovation messaging

Peirce told Atkins that “we do want to make this the place where people want to innovate whether it’s in crypto or something else,” adding that the SEC must “send the message to people that we will work with you when there are ambiguities about how the law applies.” She acknowledged there have been “a lot of ambiguities in connection with crypto which is a new technology that does things in new ways,” language that echoes her long‑standing push for more open, “predictable” rules rather than case‑by‑case enforcement.

Uyeda, who has previously criticized what he called a “disaster” approach to digital assets under former chair Gary Gensler, used the new platform to argue that the SEC needs to refocus on its statutory mission rather than sprawling rule‑sets and headline‑driven crackdowns. In earlier remarks, he pledged to abandon the “full‑throttle, broad‑scope regulatory approach” of the prior era in favor of “a slower more traditional approach to rulemaking,” signaling that crypto is now more likely to be handled through transparent processes than surprise lawsuits.

The podcast arrives on top of a structural reset that began when Uyeda, then acting chair, created an agency‑wide Crypto Task Force in January 2025 and asked Peirce to lead it. According to that announcement, the group’s mandate is “developing a comprehensive and clear regulatory framework” for crypto assets and moving away from an enforcement‑first strategy that had produced “confusion about what is legal” and “an environment hostile to innovation and conducive to fraud.”

Peirce’s task force quickly repealed the controversial Staff Accounting Bulletin 121, which had made it difficult for U.S. banks to custody digital assets on their balance sheets, and rolled out a 10‑point roadmap to address token classifications, disclosures and exchange registration. In parallel, President Donald Trump signed an executive order titled “Strengthening American Leadership in Digital Financial Technology,” instructing agencies, including the SEC, to support “responsible growth and use of digital assets, blockchain technology, and related technologies” to secure U.S. leadership.

Indeed, that shift has already translated into concrete changes such as downsizing the SEC’s dedicated crypto enforcement unit, pausing high‑profile cases against exchanges like Binance and Coinbase, and convening public roundtables on token rules instead of litigating them first. Opinion pieces on the new U.S. focus on tokenization‑friendly accounting have framed the emerging regime as an attempt to combine investor protection with a clear path for tokenized assets and crypto companies to build onshore, a goal “Material Matters” now appears designed to sell directly to both markets and voters.

Social media platform X has already generated roughly $1 billion in trading volume from its new Cashtags feature, which allows users to view stock and crypto data directly from the app.

In a post to X on Friday, the company’s head of product, Nikita Bier, said the estimated $1 billion in trading volume was reached after launching on Tuesday night, citing data aggregated from X’s trading pilot.

Based on aggregated data from our trading pilot, X has driven a estimated $1 billion in trading volume globally since launching on Tuesday night. https://t.co/TimRE4U37S

— Nikita Bier (@nikitabier) April 17, 2026

The new feature — currently only available to US and Canadian users on iPhones — is part of Elon Musk’s vision of turning X into an “everything app,” including peer-to-peer payments and e-commerce.

X sees more than 550 million users each month, positioning it as one of the largest social media platforms globally and giving it the ability to compete with established financial information providers in delivering market-related content and data.

Cashtags allow users to select a specific asset or smart contract address when posting a ticker, and tapping a tag displays live price charts and related posts.

Online brokerage Wealthsimple partnered with X to integrate the Cashtag feature, enabling Canadians to click on crypto and stock tickers and be taken directly to its trading platform.

The Cashtags feature hasn’t been integrated with a US brokerage yet.

X Money is coming too

Musk’s company also has X Money in the pipeline, a peer-to-peer payments system that seeks to offer yield-bearing accounts, a cashback debit card and other perks.

X rolled out an external beta of X Money in early March, showing payments between Musk and Hollywood actor William Shatner, who played Captain Kirk in the original Star Trek series.

Related: X mulls new rules for first-time crypto posts amid tortoise scam

The integration of crypto payments into X Money remains a mystery, however.

Over the last few years, X has secured money transmitter licenses in over 40 US states and registered with the Financial Crimes Enforcement Network to make peer-to-peer payments possible on the platform.

Magazine: Should users be allowed to bet on war and death in prediction markets?