The U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission — the sister agencies that will regulate most U.S. crypto activity — have been rivals in the past over crypto issues, but they’re now pursuing a formal memorandum of understanding to combine agency efforts, said SEC Chairman Paul Atkins.

“We are reorienting our approach toward a new golden age of regulatory coherence,” Atkins was set to say on Tuesday in remarks prepared for the FIA Global Cleared Markets Conference in Florida. “More than aligning our rules, a harmonized framework also demands coordinating our responses to the firms that operate within it, including those that have questions of interpretation or request exemptive relief.”

Atkins said he’s also directed his staff to begin setting up joint meetings with CFTC employees on product applications, and a new “harmonization” website will allow firms to request coordinated discussions with both agencies.

“Firms should not be shuffled back and forth between regulators when a product touches elements of both regulatory frameworks,” he said. “Nor should clarity depend on which agency happens to speak first.”

The division of roles between the SEC, which regulates securities and the exchanges on which they trade, and the CFTC, the commodities watchdog that oversees derivatives markets, has been a key source of friction in the process of establishing U.S. crypto trading. No formal rules have been set to say where crypto products belong, and years of regulatory actions and legal disputes have resulted.

Since the arrival of leaders appointed by President Donald Trump, the two agencies have embraced friendly crypto policies as a top priority, in line with the president’s requests. They’re now working on several, including policies to clarify how digital assets will be defined as securities and commodities.

The formalized cooperation will also extend to enforcement decisions and regulatory examinations, which will become a more routine element for crypto firms as they enter more deeply into federal oversight. That could save the companies from having to go through repetitive exams.

“Coordinated exam planning for dually regulated entities should become standard practice,” Atkins said. “Shared supervisory findings, subject to assurances of confidentiality, should be the norm rather than the exception.”

Atkins also revisited his intention to carve out a path for super-apps that allow users to conduct business across both agencies’ jurisdictions.

“In the technology world, a super-app integrates multiple services into a single seamless interface,” he said. “The user does not toggle between separate systems to complete related tasks. Instead, integration occurs invisibly behind the scenes.”

Read More: CFTC chair highlights wide crypto agenda, including rules on DeFi, prediction markets

Hyperliquid price is testing $35 as oil-linked perpetual contracts surge, driving record trading volume and attracting institutional attention.

As buyers pushed the price toward the top of its weekly range, the token was trading at $34.69 at the time of writing, up 6.6% over the previous day. Hyperliquid (HYPE) has moved between $29.61 and $35.20 over the last seven days, and the most recent surge has brought the token near a possible breakout zone.

The asset is currently up on all major timeframes, with gains of 9% over the last week, 11% over the last 30 days, and 141% over the previous year. Despite the strong long-term growth, the token still sits about 41% below its September 2025 all-time high of $59.30.

Market activity has increased during the latest move higher. 24-hour trading volume reached $2.39 billion, a 21% increase from the previous day. CoinGlass data shows open interest at $1.40 billion, down slightly by 0.22%, suggesting some traders have taken profits while the price continues to climb.

Oil-linked perps drive major activity on the platform

A large share of the recent trading surge on Hyperliquid has been driven by activity in energy markets, especially the CL-USDC perpetual contract, which tracks West Texas Intermediate (WTI) crude oil.

In recent days, oil trading volume on the platform has climbed significantly as crude prices reacted to rising geopolitical tensions in the Middle East. Reports of military escalation between the US, Israel, and Iran, as well as possible threats to supply routes via the Strait of Hormuz, have raised concerns.

The oil market has moved sharply as a result of these developments, and WTI crude briefly traded between $110 and $120 per barrel.

As a result, trading activity on the CL-USDC market surged. Daily volume climbed above $1.2 billion, with some sessions ranging between $1.15 billion and nearly $2 billion. Before the latest geopolitical developments, daily trading in the contract was roughly $21 million.

Open interest in the oil-linked contract has also grown, reaching roughly $170-$195 million. At the same time, the HIP-3 permissionless perpetuals market on Hyperliquid has recorded more than $1.2 billion in total open interest.

The rapid price swings in crude markets have also triggered liquidations. Around $40 million in positions were wiped out within 24 hours, with short sellers accounting for most of the losses during the rally.

Overall platform activity has surged alongside the oil trade. Hyperliquid’s total daily perpetual volume recently climbed above $10 billion, with non-crypto markets such as commodities, equities, and metals becoming a larger share of trading.

In some trading sessions, these markets made up over 30% of the platform’s total volume.

The rise also shows that traders are turning to the platform as a round-the-clock venue to respond to geopolitical developments, particularly during hours when traditional exchanges such as the Chicago Mercantile Exchange are not open.

Hyperliquid price technical analysis

From a chart perspective, Hyperliquid is testing an important resistance area near $35. Because it rejected the price earlier in February, this level is important for traders.

A breakout could be indicated by a daily close above $35, opening the door for the $38–$40 range. Momentum indicators are currently showing a bullish bias. The token is trading above the Bollinger Band midline at around $30, which has acted as short-term support during upward trends.

Since late February, the price has formed a series of higher lows, suggesting that buyers have been stepping in whenever there are dips. The relative strength index, which is currently at roughly 62, indicates that while the market is still below overbought territory.

Additionally, volatility is starting to rise. The Bollinger Bands are widening, a pattern that is commonly observed when markets start preparing for a stronger directional move.

If the price breaks above $35, the move could open the way toward $38 and possibly $40 as the next upside levels. However, if the level holds as resistance and the price is rejected, the token could be pushed back toward the $30 support zone, where demand previously returned.

TLDR

• Polymarket partnered with Palantir Technologies and TWG AI to build a sports market integrity platform.
• The platform uses the Vergence AI engine to monitor trades in real time.
• The system screens prohibited users and detects suspicious trading activity.
• Shayne Coplan said the partnership will strengthen monitoring across sports prediction markets.
• The move comes as Polymarket expands its sports offerings and plans a return to the United States.

Polymarket has partnered with Palantir Technologies to build a monitoring platform for its sports prediction markets. The companies will deploy advanced analytics to detect suspicious trading and enforce compliance standards. The agreement comes as Polymarket expands its sports markets and prepares to re-enter the United States.

Polymarket Partners with Palantir and TWG AI to Launch Integrity Platform

Polymarket confirmed that it will work with Palantir Technologies and TWG AI to develop a sports integrity system. The platform will use the Vergence AI engine, which Palantir and TWG AI jointly operate. The companies said the system will monitor trades and flag irregular activity in real time. The announcement outlined plans to prevent manipulation and insider activity across sports prediction markets.

Polymarket said the system will screen prohibited users and support compliance reporting tools. It will also track market behavior to identify unusual trading patterns. The companies stated that the platform will help ensure trust and fairness as trading volumes grow. Shayne Coplan said, “Our partnership with Palantir and TWG AI allows us to apply world-class analytics and monitoring to sports markets.” He added that the tools will help leagues and teams maintain confidence in games.

Expansion of Sports Prediction Markets and Regulatory Backdrop

Polymarket and Kalshi have expanded sports event contracts as trading volumes increase. The expansion has drawn scrutiny from certain gaming authorities and state regulators. At the same time, DraftKings has launched DraftKings Predictions in 38 states. These states include California, Florida, Georgia, and Texas, where traditional sports betting remains restricted.

The U.S. Commodity Futures Trading Commission filed a friend-of-the-court brief supporting Kalshi last month. The agency asserted “exclusive jurisdiction” over futures markets, including gaming contracts. Kalshi faces a lawsuit alleging violations of Nevada gaming laws. CEO Tarek Mansour said Kalshi recorded over $1 billion in trading volume on Super Bowl Sunday.

The Wall Street Journal reported that Polymarket and Kalshi have discussed funding rounds with potential investors. The report said both companies seek valuations near $20 billion. Polymarket has also acquired a CFTC-regulated platform to facilitate its return to the United States. The company has opened a waitlist for users ahead of the relaunch.

Palantir Technologies, co-founded in 2003 by Peter Thiel and Alex Karp, develops data analytics software. The company provides tools to U.S. government agencies and enterprise clients. Through the Vergence AI engine, Palantir and TWG AI will power the new monitoring platform for Polymarket’s sports markets.

TLDR

• KBC partnered with Swiss fintech Taurus to support its regulated crypto trading service in Belgium.
• KBC became the first Belgian bank to offer Bitcoin and Ethereum trading within a regulated banking framework.
• The bank integrated Taurus-PROTECT to provide institutional-grade digital asset custody for its Bolero platform.
• Retail clients can trade Bitcoin and Ether on an execution-only basis under the EU MiCAR framework.
• KBC structured the service under a closed model that keeps crypto assets within the Bolero platform.

Major Belgian lender KBC has partnered with Swiss fintech Taurus to power its regulated crypto trading service. The bank will use Taurus-PROTECT to provide institutional custody for digital assets offered through its Bolero platform. The launch makes KBC the first Belgian bank to enable Bitcoin and Ethereum trading within a regulated banking framework.

KBC Group Launches Regulated Bitcoin Trading with Taurus Support

KBC Group confirmed it teamed up with Taurus SA to deploy Taurus-PROTECT for secure digital asset custody. The bank integrated the platform into Bolero, its self-directed investment service, to support regulated crypto trading. The service went live last month and offers retail clients access to Bitcoin on an execution-only basis.

KBC Group structured the offering under the European Union’s Markets in Crypto-Assets Regulation framework. The bank executes all Bitcoin transactions in compliance with MiCAR requirements and internal governance standards. Erik Luts, Chief Innovation Officer at KBC Group, said growing client demand drove the partnership.

“By working with Taurus, we can offer crypto services supported by banking-grade custody,” Luts said. He added that the bank applies the same security and control standards across its crypto operations. KBC Group confirmed that clients trade Bitcoin directly within Bolero without external transfers.

Ether Access Expands Through Closed Operating Model

KBC Group also introduced Ethereum trading under the same regulated structure. Retail clients can access Ether on an execution-only basis through Bolero. The bank keeps all purchased crypto assets within its closed operating model.

Under this model, clients cannot transfer Bitcoin or Ether to external wallets or exchanges. The structure removes the need for clients to manage private keys themselves. KBC Group said this approach reduces operational and fraud risks linked to retail custody.

Lamine Brahimi, Co-founder and Managing Partner at Taurus, addressed the collaboration. “We are proud to support KBC’s market-first initiative in Belgium with Taurus-PROTECT,” Brahimi said. He stated that Taurus designed the platform specifically for banks seeking institutional-grade custody.

Taurus-PROTECT provides digital asset storage with governance and compliance controls aligned with banking standards. KBC Group confirmed it applies the same oversight procedures used across its broader financial services. The bank said the platform ensures secure storage of both Bitcoin and Ether holdings.

KBC Group stated that all transactions occur within a fully regulated banking environment. The bank said it processes trades through established compliance systems and internal monitoring tools. The service became available to retail investors last month through the Bolero platform.

KBC Group emphasized that clients gain crypto exposure through a trusted banking channel. The bank maintains full custody responsibility for assets held on the platform. The announcement marked the official rollout of regulated Bitcoin and Ether trading in Belgium’s banking sector.

Bitcoin brushed off geopolitical turbulence to trade above $70K, with an analyst pointing to resilience as a bullish signal.

Bitcoin (BTC) was trading just above the $70,000 level today, brushing off weeks of geopolitical turbulence tied to the conflict pitting the U.S. and Israel against Iran to post gains of about 4% in the last 24 hours.

Now, analyst Markus Thielen is arguing that the flagship cryptocurrency’s refusal to crumble under that pressure is itself a bullish signal, which makes a return to the $70,000 to $80,000 range more likely.

BTC Has Absorbed the Pressure

In his March 10 daily chart note for Matrixport, Thielen pointed out that since early February, BTC has mostly traded sideways, despite facing headwinds such as weaker U.S. employment figures, a sell-off in Korean equities, and a significant rise in oil prices over the weekend.

He noted that Bitcoin only retraced toward the $66,000 level, eventually finding support, even as oil prices briefly jumped to $120 over fears of Iran closing the Strait of Hormuz.

“As markets gradually start to discount the Iran conflict,” Thielen wrote, “Bitcoin is likely to look through the geopolitical noise, which should support a move toward this higher trading range.”

The sentiment has found backing from the broader news cycle, with reports emerging on March 9 that U.S. President Donald Trump had said that the war was “very complete, pretty much.” Oil prices dropped back below $90 per barrel shortly after his remarks, with gold touching $5,140 per ounce and the S&P 500 climbing above 6,800.

Bitcoin wasn’t left behind either, jumping to around $69,600 before settling near $69,000 that day. Its current CoinGecko data shows a 24-hour range of about $67,000 to $71,200, with the asset now just above $70,500.

The price is up 3% from its level 7 days ago and more than 10% over 2 weeks. However, BTC is still down about 15% year-on-year and sits over 44% below its October 2025 all-time high when it passed $126,000.

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Deleveraged Market Prepares the Stage for a Move Higher

One reason analysts are closely watching the current structure is because of the significant deleveraging that has taken place. As we previously covered, CryptoQuant analyst Darkfost noted that since February, Bitcoin’s Estimated Leverage Ratio on Binance fell from 0.198 to 0.152, as the OG crypto dropped from $96,000 to around $69,000.

According to the market technician, lower leverage usually means less systemic pressure, which can help stabilize price action before the market enters a new directional phase.

Interestingly, the cleaner leverage profile seems to be pairing with a futures market leaning heavily on shorts. Per data from Binance Research, open interest has gone up some 18% since late February, returning from under $30 billion, while funding rates have stayed low to negative.

That combination means a large share of current open interest is from short positions, and if BTC moves higher, forced short covering could add velocity to any rally.

TLDR

• Strategy recorded its largest STRC issuance day and bought an estimated 1,420 Bitcoin.
• The company sold about 2.4 million STRC shares through its at-the-market program.
• Strategy reported around $378 million in STRC proceeds in its latest SEC filing.
• The company disclosed a total Bitcoin purchase worth 1.3 billion dollars.
• Strategy amended its ATM sales rules to allow a second agent to sell shares outside regular hours.

Strategy executed its largest recorded STRC issuance day and used the proceeds to acquire an estimated 1,420 Bitcoin. The company amended its at-the-market sales rules and expanded agent access before and after regular trading hours. It then reported $1.3 billion in total Bitcoin purchases in its latest SEC filing.

STRC Issuance Drives Estimated 1,420 BTC Purchase

Strategy sold about 2.4 million STRC shares through its at-the-market program in one day. Data from STRC.live estimated that the company bought 1,420 Bitcoin following the sales. The estimate marked the largest daily STRC issuance and related Bitcoin purchase on record.

Previously, STRC.live recorded a daily purchase of 1,069 Bitcoin as the highest issuance-linked total. However, the latest transaction exceeded that earlier figure based on the same data source. STRC functions as Strategy’s variable-rate perpetual preferred stock launched in July 2025.

The company uses STRC alongside Stride, Strife, Strike, and common stock to fund Bitcoin acquisitions. Strategy sets monthly variable cash dividends for STRC holders. It fixed the March annualized dividend rate at 11.5 percent.

Bitcoin Purchase Expands Treasury Holdings

Strategy disclosed in its SEC filing that it sold about $378 million in STRC. The company also reported nearly $900 million in proceeds from common stock MSTR sales. Together, those transactions supported a $1.3 billion Bitcoin purchase.

STRC.live had estimated that weekly STRC proceeds would fund around 4,300 Bitcoin purchases. However, the reported total exceeded that estimate based on disclosed sales figures. Strategy confirmed the Bitcoin acquisition as one of its largest on record.

The company reported an average cost basis of $75,862 for its Bitcoin holdings. At the time of reporting, Bitcoin traded at $71,279. Strategy continued purchases despite the market price remaining below its average cost.

Revised ATM Rules Expand Sales Access

Strategy amended its at-the-market program rules on Monday. The company now allows a second sales agent to sell securities outside regular market hours. Previously, it limited sales to one agent per trading day.

The updated structure permits sales before the US market opens and after it closes. Market observer Ragnar stated, “A lot more capital will be raised, and a lot more Bitcoin will be purchased.” The company has not issued further operational changes beyond the filing.

STRC remains one of several securities used to fund Strategy’s Bitcoin treasury approach. The company continues to report sales and purchases through SEC filings. The latest filing detailed the $1.3 billion Bitcoin acquisition and expanded ATM structure.

BNB price approaches $656 resistance at the value area high with weak volume. A rejection here could trigger a rotation toward key support near $583.

Binance (BNB) price is approaching a critical technical level as price rallies toward a major resistance zone near $656–$659. This region aligns with the value area high and a high-timeframe resistance level, making it an important inflection point that could determine the next directional move.

While the recent bounce has brought bullish momentum back into the market, the broader structure suggests that this rally may be nearing exhaustion. Technical analysis indicates that the current move began at the value area low, where buyers stepped in to defend support.

However, as price approaches the upper boundary of the value area, momentum appears to be weakening due to a noticeable lack of strong bullish volume.

BNB price Key Technical Points

• Key Resistance: BNB testing value area high near $656–$659.
• Volume Weakness: The rally toward resistance is occurring on declining bullish volume.
• Downside Target: Rejection could trigger a rotation toward $583 high-timeframe support.

BNB’s current price action is unfolding within a technically well-defined structure where key levels continue to dictate market behavior. One notable feature on the chart is how consistently price has respected the value area high and value area low during previous rotations. These levels represent areas where the majority of trading activity has occurred, making them important zones of equilibrium between buyers and sellers.

The recent bounce from the value area low signaled that buyers were willing to step in at discounted prices. As price moved higher, it began rotating toward the opposite side of the trading range. This type of movement is consistent with typical market behavior within range-bound conditions, where price oscillates between support and resistance levels as liquidity is redistributed.

However, as BNB approaches the value area high near $656, signs of exhaustion are beginning to appear. One of the key signals supporting this view is the lack of strong bullish volume accompanying the current rally. When price moves higher without sufficient volume confirmation, it often indicates that buying momentum is weakening and that the move may struggle to sustain itself.

This comes as a U.S. federal court recently dismissed a lawsuit accusing Binance of facilitating terrorism financing, ruling that the plaintiffs failed to meet the legal requirements needed to hold the exchange liable under anti-terror laws, removing a major legal overhang for the platform.

Low-volume rallies frequently occur during corrective phases within a broader consolidation structure. In these cases, price may drift upward toward resistance but ultimately fail to break through due to the absence of strong participation from buyers. As a result, these areas often become zones where sellers regain control of the market.

From a market structure perspective, the value area high and high-timeframe resistance near $659 represent a confluence zone where supply may begin to enter the market. If sellers step in around this region, it would reinforce the idea that the current rally is losing strength and could mark the beginning of another rotational move lower.

Another important factor supporting this scenario is how previous pivots on the chart have occurred at technically significant levels. Each rotation within the range has respected the value area boundaries, suggesting that the market is continuing to operate within a structured auction environment. When these patterns repeat consistently, traders often anticipate similar behavior during future tests of these levels.

Meanwhile, Binance’s regional head has confirmed that the exchange expects to secure five additional licenses across Asia this year, signaling continued expansion despite ongoing regulatory scrutiny.

If BNB fails to break above the $656–$659 resistance zone, the market may once again rotate toward the lower boundary of the value area. In this case, the next major support level to watch would be the high-timeframe support near $583.

What to expect in the coming price action

BNB is now approaching a key resistance region where the value area high intersects with high-timeframe resistance near $656–$659. The lack of strong bullish volume suggests that the current rally may be losing momentum as price enters this supply zone. If sellers defend this level, the market could reject and rotate back toward $583 support.

However, a strong breakout above resistance with increasing volume would invalidate the bearish scenario and open the door for further upside continuation.

Cryptocurrencies are extending their advances on Tuesday as easing concerns about a potential oil supply shock improved risk sentiment across global markets.

The sentiment shift came after the International Energy Agency (IEA) said it would convene an extraordinary meeting of its member countries to consider releasing emergency oil reserves.

Bitcoin BTC$71,312.13 climbed above $71,500 for the first time since Thursday, before easing back to the current $71,300, up 3.2% over the past 24 hours. The broad market CoinDesk 20 Index was up by a similar amount, with XRP (XRP), DOGE$0.1001, SUI$0.9703 and Hyperliquid’s native token (HYPE) leading gains among major crypto assets.

WTI crude oil extended its decline on the news, dropping to $82 after spiking to near $120 over the weekend. Meanwhile, the S&P 500 and tech-heavy Nasdaq 100 were up roughly 0.5% at midday.

Most crypto-related stocks mirrored the advance. Stablecoin issuer Circle (CRCL) was up another 6%, now nearly 100% higher in two weeks, while digital asset infrastructure firm BitGo (BTGO) climbed more than 8% and blockchain firm Figure (FIGR) rallied 12%.

Since Nigel Farage was announced as joining U.K. bitcoin treasury firm Stack BTC (STAK) on Monday, that stock has surged more than 200%.

Bitcoin decoupling from software

Bitcoin appears to be losing its correlation with the software stock ETF (IGV), as BlackRock’s IBIT is up around 3% over the past 24 hours while IGV is down more than 2%.

However, over the past five days, IGV is up about 1.5% while IBIT is down roughly 2%, suggesting IBIT may still have some catching up to do if the correlation with software stocks is to re-establish itself.

A weakening correlation could also be notable, as it may signal bitcoin beginning to trade more independently from software and tech equities, potentially becoming a more uncorrelated asset during periods of macro uncertainty. While still outperforming gold and U.S. equities since the war began.

‘Cautiously optimistic’ for BTC

Zooming out, bitcoin’s recent price action has been relatively resilient despite the ongoing macro turbulence, said James Harris, CEO of crypto yield platform Tesseract Group.

After briefly testing the low-$60,000 area, BTC recovered even as broader risk markets struggled with geopolitical uncertainty, he said. Meanwhile, ETF inflows have remained broadly supportive, while a sharp deleveraging earlier in the month helped clean up excessive positioning in derivatives markets.

The mix of washed-out sentiment, flushed-out leverage and support around the $66,000 zone suggests bitcoin may be entering a bottoming process, Harris said. However, downside risk persists as the crypto market remains fragile.

“If support in the mid-$60k area fails, we could easily see another test lower, but for now we remain cautiously optimistic on BTC,” he said.

We all know the problem with a public ledger. Most of us living inside the crypto ecosystem can’t actually bring ourselves to say it.

But find a normie on the street, one with some knowledge of blockchain (good luck with that), and they’ll tell you straight. It’s public. A public ledger is public.

We’ve spent almost two decades trying to sell pork pies to vegans, trumpeting “public” as a virtue, when people actually crave privacy.

Out there in the real world, normies don’t see radical transparency. Many perceive insanity. They see data breaches. They are in no doubt that sharing a permanent and immutable record of every transaction they’ve ever made is utterly absurd.

You wouldn’t use a credit card if your neighbor could see every transaction you made. You wouldn’t run a business if your competitors could see exactly who your suppliers are and what you’re paying them.

To put it simply, on-chain is too public, off-chain is too private. There has to be a balance. Some information needs to be made public for audit and regulatory purposes. Some information needs to remain private to enable businesses to function effectively.

Businesses need to shield their proprietary moves from competitors while providing a “viewing key” to regulators or auditors. It’s a balance between complying with the law and functioning effectively in the market.

There are some good reasons why institutional finance hasn’t fully embraced blockchain–why the hedge funds, asset managers and corporate treasuries with billions to invest haven’t been red-pilled. One of those reasons is that they understandably don’t want to hand their proprietary strategy to the entire world, and simply cannot do so. It would be like broadcasting their alpha for free.

The corporate reality check

Stablecoins promise speed and efficiency for B2B transactions. The cost is low, but the price is high. Privacy. A transparent ledger means everyone–friend or foe, ally or rival–can see a company’s business. Which vendor they’re using, the volume of the orders and the price per unit. There are no secrets; everything’s on display, and they’re effectively leaking their entire supply chain. Businesses have to find ways around the problem by enhancing privacy while remaining compliant.

What we need is the blockchain equivalent of the internet’s SSL moment. We didn’t get a functional web until encryption became a standard layer, allowing us to send credit card info without the whole world watching.

From theory to practice

We are finally seeing this infrastructure move from whitepapers to the real world. For example, the Canton Network has had some success in bringing privacy to enterprise finance, albeit in a permissioned form. I’ve been involved in one of the latest privacy advances. It’s the newly announced plan to launch strkBTC on Starknet. We have spent years treating Bitcoin as digital gold—a great store of value, but one that is largely static and totally exposed if you try to use it in DeFi.

For the first time, you can have the security of Bitcoin with a “confidentiality layer” that protects your balances and counterparties from public view. It is the first proof that we can have an “active” Bitcoin that respects the commercial need for privacy, all with selective disclosure for reasonable risk management.

The path forward

One of the values of early crypto adopters was privacy, but that ambition will remain unfulfilled if we don’t build for the systemically important capital flows that move the world. Public blockchains will only scale if they can support private finance.

Through selective disclosure and protocol-level confidentiality, we aren’t just adding a feature. We are finally building a system that the world can actually use. The technology is here—the remaining question is which networks will set the standard for the next era of global finance.

Latest developments: Edelman told CoinDesk’s Jennifer Sanasie on Markets Outlook that the dispute over whether stablecoins can offer yield is threatening progress on market structure legislation.

• Banking groups argue allowing stablecoin issuers to offer yield would siphon deposits from traditional banks.
• Edelman said banks are opposing the provision largely because stablecoins pose a competitive threat to their business models.
• The issue has become a sticking point in negotiations around the Clarity Act, a proposed crypto market structure bill in Washington.
• Despite siding with crypto on the economics, Edelman said the banking lobby is politically strong and “likely to win the argument.”

Why it matters: Edelman argues the industry should compromise rather than risk losing regulatory clarity altogether.

• “I don’t think it’s the hill to die on,” Edelman said about the fight over stablecoin yield.
• He said the broader legislation would provide long-awaited regulatory certainty for crypto companies and investors.
• Prediction markets currently suggest the bill will pass, he said, though the timeline remains uncertain.
• Edelman warned the bill could stall if it doesn’t pass before midterm elections.

The market outlook: Edelman believes regulatory clarity could quickly revive crypto markets.

• If the bill fails, he expects a sharp but temporary drop in crypto prices as investors react.
• Over the long term, crypto would still grow but at a slower pace without supportive legislation.
• If clarity arrives, Edelman predicts crypto prices could surge and quickly reach new all-time highs.
• He reiterated his long-term forecast that bitcoin could reach $500,000 by the end of the decade.

Reading between the lines: Edelman also pushed back on fears that quantum computing threatens Bitcoin.

• Claims that quantum computers will break the Bitcoin blockchain are “one of the dumbest things I’ve ever heard anybody say,” Edelman said.
• He argued the industry would develop defensive cryptography alongside any advances in quantum computing.
• Even if such machines emerge, attackers would likely target larger financial systems or infrastructure before Bitcoin.
• Edelman continues to recommend investors allocate up to 40% of portfolios to crypto broadly, focusing mainly on major assets such as bitcoin, ether and solana.

Looking ahead: Edelman expects consolidation among cryptocurrencies as the market matures.

• He predicts roughly a dozen major cryptocurrencies will ultimately dominate the sector.
• At the same time, tokenization could create hundreds of thousands of blockchain-based tokens representing assets like real estate, commodities and collectibles.
• That shift could dramatically expand diversification opportunities for investors.