Crypto World
Unified Liquidity Across All Blockchains
For years, the crypto industry has treated liquidity as a finite resource that projects must compete for through incentives and marketing. This approach has created fragmentation across networks, with the same assets requiring separate liquidity pools on different chains. Georges Chouchani, founder of Euclid Protocol, believes the industry has been solving the wrong problem.
In this exclusive interview, Chouchani explains how Euclid is building infrastructure that generates and optimizes liquidity rather than simply moving it between networks. With a recent $3.5 million raise from strategic investors, the protocol is preparing for its mainnet launch and token generation event.
Q: Liquidity has been a problem in crypto for years. What made you think the industry was solving it the wrong way?
A: I don’t think it’s about solving it the wrong way, but with the existing tech at that time, it was treated as a finite resource that applications and chains compete to grab through incentives and huge marketing spends. This is what we always term the “Zero Sum Game”. This hurt the industry by focusing on short-term tactics to acquire this liquidity, which is, by itself, mercenary (follows the highest returns). Protocols could not focus on the bigger picture or spend on improving their product and attracting long-term users. 90% of protocols fail due to a lack of liquidity available to tap into. With our tech, this changes.
Q: Most solutions today focus on moving liquidity between networks. Why did you believe generating and optimizing liquidity was the more durable approach?
A: Bridges and solutions to move liquidity between networks make this liquidity less efficient because the moved liquidity is no longer the “same” as the original asset and liquidity it originally was on the origin chain. This is why we see pools for ETH and WETH (wrapped ETH) as completely different; this means instead of having one efficient pool for ETH, it’s broken down into tens of pools across different protocols and chains. This means it will never be enough to onboard retail liquidity to decentralized protocols.
With Euclid, we allow this liquidity to be accessible from any network and protocol, removing the need to move, wrap and fragment assets. This means protocols no longer spend millions on incentives for short-term access to liquidity and focus on their business model and initial product.
Q: You describe Euclid as a unified liquidity layer. In simple terms, how is that different from what most projects call “unified liquidity”?
A: Unified Liquidity is usually a term used by a protocol to explain that you can use an asset on any chain directly without directly bridging, or you can easily move assets between chains. Although a great solution for fragmentation, it does not tap into liquidity available in markets (where assets can be bought and sold), since the liquidity still exists inherently on different protocols or networks (by liquidity, we mean how much you can sell without a big impact on the amount you receive, or the best quote).
When we say a unified liquidity layer, we mean where markets are unified and accessible from 50+ networks. Before Euclid, if there is a $1M pool on 10 chains, you can only trade against $1M in liquidity, although $10M of liquidity actually exists.
We can think of aggregators in the traditional sense as brokers that help traders settle a trade easily by finding the best path and taking a small fee for the effort. But the path still depends on the most liquid market for the trade.
Euclid, however, you can think of it as the New York Stock Exchange, where all brokers trade across the world, as it is the most liquid venue to access. This is what our infrastructure offers. The goal is to power thousands of protocols, traders, and market makers by offering 24/7 highly liquid markets across any network. A goal so far thought impossible.
Q: Instead of finding prices from other markets, Euclid sets prices itself using an AMM and its own orderbook. Why was that an important choice?
A: Finding prices from other markets defeats our original goal of unifying liquidity. We would become like any aggregator out there. We do not want to find the best price in the market for users; we want to be the best price in the market. It is not an important choice for us; it is the only way to do it. We all build on decentralized markets because we want to get rid of middlemen that charge fees and have access to privileged information that can be directly given to the user.
Our infrastructure allows products and protocols to offer direct access to markets, investment opportunities, and more liquidity to users directly without bridges, aggregators, solvers, or whatever you want to call them, in a way that is both time and cost-efficient as well as more secure long-term.
Q: Euclid allows one liquidity pool to work across more than 50 networks. What does that change for teams that usually manage liquidity chain by chain?
A: Assuming a lending protocol that plans to go multichain across 50 networks, it requires liquidations and hence markets to liquidate assets on these 50 networks, else they need to rebalance or bridge assets to where it’s liquid enough. Also, liquidity fragmented across these 50 networks will mean that there is less liquidity in one pool, hence less optimized prices, more slippage and hence tighter spreads and worse liquidations for users, making the whole user experience and business model worse.
With Euclid, we take care of the liquidity and offer you the best markets for the protocol to liquidate and trade from anywhere. No need to rebalance assets on the backend, hedge, or bridge. The protocol can spend more time and money on building a better protocol as well as generating more revenue to invest in it long-term.
This is a game-changer for anyone looking to build and deploy decentralized protocols.
Q: A lot of Euclid’s efficiency happens behind the scenes. What kinds of costs or complexity does it remove for users and protocols?
A: I could talk on and on about this. What we offer is more than a better quote when you buy Bitcoin; our infrastructure allows the efficiencies to show in all areas of the user experience using an integrated protocol.
First of all, interacting with assets on different chains or having a multichain portfolio is as easy as using Binance; you don’t have to worry about gas management, bridging, or asset rebalance. Although a few dollars here and there don’t seem like a big improvement, this saves the protocols millions every year that they can reinvest in the product and user experience.
$1M in volume a year for an average trader could lose over $10,000 to capital inefficiencies in fragmented markets. Over 1,000 traders, this is $10M in lost capital to the users and protocol. These numbers scale fast and are the “wasted energy” of Web3 that could be put to good use instead. This is one of the major reasons the NYSE was created and became the biggest market for people, brokers, and institutions to trade on a daily basis.
Q: Euclid is sometimes grouped with interoperability or chain abstraction projects. Why do you think that comparison misses the point?
A: Our infrastructure DOES improve interoperability and offer better chain abstraction, but it is definitely not what we are building. Unified markets onchain does make building multichain protocols or offering it to users much easier, but this is an effect of what we are building and not our main goal.
The mess that chain abstraction and interoperability are solving exists because fragmentation exists across networks. Euclid solves this for liquidity. Liquidity no longer is fragmented and it trickles down directly to the user experience.
Today, protocols tackling chain abstraction require fillers or solvers in the backend to complete a user intent instantly, which is expensive and is the main reason behind capital inefficiency. If these protocols use Euclid instead (which they will be very soon), they won’t need middlemen of any kind to fill user intents, and will provide a much more seamless user experience to users.
Q: Euclid recently raised $3.5 million from strategic investors. What was hardest about raising funds for an infrastructure project like this in the current market?
A: Although the market is harder than ever to raise in and liquidity is drying up, the main benefit is that only investors who are close and passionate about our vision decided to participate, which shapes us as long-term believers and supporters of the protocol and what we do. We’ve received support from strategic partners with whom we will work long-term to achieve our vision, and we are really grateful for this.
I also believe that today it is clearer than ever that infrastructure that permanently solves fragmentation and offers efficient markets is needed more than ever. As they say, you can predict the future of tomorrow by what is funded today.
Q: Several of the investors and partners are closely tied to the broader ecosystem. How do these relationships shape what Euclid is building next?
A: Capital is just one part of what we look for in investors. The access to integrate Euclid and put it on the map is what we are looking for. We are more confident than ever that our product fits in the ecosystem, but introductions are needed to start the flywheel as well.
It also creates the feedback loop of understanding what our partners need and their biggest problems, so we can make sure that our product solves this for them and keep iterating and updating our infrastructure to match the demand out there.
Q: As Euclid moves toward mainnet and a token, how are you thinking about the token’s role within the system rather than as a standalone asset?
A: The token is a value-accruing asset that aligns the entire ecosystem’s incentives. Every trade directly and indirectly accrues value to the holders, as well as it allows the protocol to use this token to incentivize more integrations (hence volume) and liquidity for even more efficient markets, and hence even more demand on trades, creating what we call the liquidity flywheel.
It will also offer governance rights to its stakers to participate in voting on future incentives, fee structures, and next iterations of the product.
Introduction
Decentralized finance has unlocked something traditional finance never could: permissionless income generation. No bank approvals, no gatekeepers — just you, your capital, and smart contracts.
But there’s a problem.
Most beginners enter yield farming the same way:
They see 100%+ APY, ape in… and learn about risk the expensive way.
This guide fixes that.
Instead of throwing random strategies at you, we’ll walk through a step-by-step “Yield Farming Ladder” — a structured path from beginner to advanced, designed to help you earn sustainably while understanding the risks.
Why Most Beginners Lose Money in Yield Farming
Before we talk profits, let’s talk reality.
Most beginners lose money because they:
- Chase high APYs without understanding the source
- Ignore risks like impermanent loss
- Trust unaudited or hype-driven protocols
- Overcommit capital too early
Here’s the uncomfortable truth:
High yield isn’t free money — it’s risk in disguise.
If you don’t know where the yield comes from, you are the yield.
Level 1: Training Wheels — Stablecoin Lending
Best for: Absolute beginners
Risk level: Low
Typical returns: 3–8% APY
This is where you start.
You deposit stablecoins (like USDC or USDT) into lending protocols, and borrowers pay interest to use your funds.
Why this works for beginners:
- No exposure to price volatility
- No impermanent loss
- Simple mechanics
What you’re learning:
- How DeFi protocols work
- How yield is generated (real demand vs incentives)
Think of this as your DeFi savings account — except it actually pays.
Level 2: Liquidity Pools — Where Real Yield Begins
Best for: Beginners ready to level up
Risk level: Medium
Typical returns: 5–20% APY
Now you step into liquidity provision (LP).
You deposit token pairs into decentralized exchanges, and earn:
- Trading fees
- Incentives (sometimes)
Example:
Provide ETH + USDC → earn fees every time someone trades that pair.
New concept unlocked: Impermanent Loss
This is the “gotcha.”
If token prices move unevenly, you might earn fees… but still lose compared to holding.
Simple analogy:
You’re running a currency exchange booth. If exchange rates swing wildly, your inventory value changes too.
What you’re learning:
- Market exposure
- Fee-based yield vs incentive-based yield
Level 3: Yield Optimization — Work Smarter
Best for: Intermediate users
Risk level: Medium
Typical returns: Variable (often higher due to compounding)
At this stage, you stop doing everything manually.
You use yield aggregators that:
- Automatically reinvest your rewards
- Optimize across pools
- Save time and gas fees
Why this matters:
Manual farming is like watering plants one by one.
Aggregators?
They install an irrigation system.
What you’re learning:
- Capital efficiency
- Compounding strategies
- Protocol diversification
Level 4: Advanced Strategies — The Danger Zone
Best for: Experienced users only
Risk level: High
Typical returns: 20%–100%+ (with serious risk)
This is where things get spicy — and risky.
Strategies include:
- Leveraged yield farming
- Farming new/high-incentive protocols
- Looping (borrow → farm → repeat)
The trade-off:
Higher returns = higher chance of:
- Liquidation
- Smart contract exploits
- Total loss
Let’s be blunt:
This is where people either multiply their capital… or become a Twitter warning thread.
Proceed with caution.
The Risks You Cannot Ignore
If you skip this section, you’re basically speedrunning losses.
1. Smart Contract Risk
Bugs or exploits can drain funds instantly.
2. Impermanent Loss
LPs can underperform simple holding.
3. Protocol Risk
Not all platforms are audited or trustworthy.
4. Market Volatility
Crypto moves fast. Your yields can vanish just as quickly.
5. Overexposure
Putting everything into one strategy = one point of failure.
The Perfect Beginner Yield Farming Path
Here’s the roadmap that actually works:
Step-by-step progression:
- Start with stablecoin lending
- Move into ETH or major asset exposure
- Try stable liquidity pools
- Explore volatile LPs
- Experiment (carefully) with advanced strategies
The key principle:
Start simple. Scale with understanding — not hype.
Example: A Beginner-Friendly $1,000 Yield Portfolio
Let’s make this practical.
Sample allocation:
- $500 (50%) → Stablecoin lending
- $300 (30%) → Stable LPs
- $200 (20%) → Experimental strategies
Why this works:
- The majority of low-risk yield
- Some exposure to higher returns
- Limited downside if experiments fail
This isn’t about maximizing gains.
It’s about staying in the game long enough to learn.
Final Thoughts
Yield farming isn’t a shortcut to wealth.
It’s a system — one that rewards:
- Patience
- Understanding
- Risk management
The real edge isn’t finding the highest APY.
It’s knowing:
- Which yields are sustainable
- Which risks are worth taking
- When to scale… and when to step back
Because in DeFi, survival is the strategy.
And once you survive long enough?
That’s when the real compounding begins.
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- Solana (SOL) price consolidates near $80 support amid strong fundamentals.
- Institutional staking and brokerage access boost Solana adoption.
- Key resistance at $87.65, and a breakout could target $97–$107.
Solana’s native token, SOL, has been showing signs of consolidation as it struggles to break through key resistance levels.
Despite a slight bounce today, the price remains confined below the $88 range.
At the same time, traders should closely monitor the altcoin which is currently hovering near the critical support at around $80, which has acted as a short-term floor for buyers.
On the surface, Solana’s technical structure appears cautious, with short-term momentum indicators showing weak buying pressure, but underneath this, Solana’s ecosystem is growing at a remarkable pace.
Solana’s fundamental strength fuels long-term confidence
One of the most compelling aspects of Solana’s recent performance is the surge in institutional and real-world adoption.
The network now hosts more than $2 billion in tokenized real-world assets according to rwa.xyz.
This milestone underscores Solana’s role not just as a blockchain for decentralized applications, but as a platform capable of handling complex financial instruments.
Institutional interest has also taken a significant step forward.
Staking products offering competitive yields have been launched, allowing both retail and institutional investors to earn returns on their SOL holdings.
These developments provide additional utility and financial incentives for participants, reinforcing Solana’s position as more than a speculative asset.
Adding to this, several traditional brokerage platforms including Galaxy now offer custody and trading services for SOL.
This integration reduces barriers for institutional investors and opens the door for mainstream adoption.
With access to regulated platforms, capital inflows could increase steadily, strengthening the network’s financial layer and liquidity.
On-chain activity remains robust as well, and the blockchain continues to see high transaction throughput, and its dominance in tokenized equity markets demonstrates that adoption is moving beyond hype-driven speculation.
Taken together, these factors highlight a token with real-world utility and strong growth potential.
Technical resistance holds back SOL’s price
Short-term market sentiment remains cautious, with recent outflows from Solana-focused ETFs reflecting institutional hesitancy despite the network’s improvements.
While the fundamentals are building, the price is still confined by technical hurdles.
SOL has found immediate resistance near $87.65, with historical data suggesting further caps at $97.56 and $106.95.
On the downside, the support zone at $75.85–$80.00 is critical for near-term stability.
A daily close below these zones could trigger a sharper decline toward $63.72, which has historically acted as a longer-term support.
Solana price outlook
Overall, Solana (SOL) is at a pivotal point where its fundamentals are strong, but the market has yet to fully recognize them.
Price action will likely depend on whether buyers defend support and whether institutional capital begins flowing into the network.
In the short term, traders should closely watch the near-term support zone between $80 and $77.32, since holding this level is crucial to prevent further selling pressure.
In case of a rebound, the immediate resistance is at $87.65, which if cleared could open the door to a rally towards higher targets at $97.56 and $106.95.
Built by Tezos R&D hub Trilitech, the new web app brings tokenized rare earth metals on-chain alongside gold and uranium as AI-driven industrial demand intensifies.
Dr. Ben Goertzel, CEO of the Artificial Superintelligence (ASI) Alliance, told BeInCrypto his team can recreate the quantum attack circuits that Google Quantum AI built but refused to publish. He warned that if his organization can do it, nation-states already can too.
Google’s March 30 whitepaper showed that two working circuits implementing Shor’s algorithm to break 256-bit elliptic curve cryptography could be built with fewer than 500,000 physical qubits. The team chose not to release the code and instead published a zero-knowledge proof. Goertzel told BeInCrypto that decision changes nothing.
“Keeping Capabilities Secret Buys You at Most a Very Short Window”
Google framed its decision to withhold the circuits as responsible disclosure. The blog post called it a deliberate departure from the team’s historical practice of full transparency, motivated by the potential for misuse.
The crypto industry largely debated whether this aligned with its founding principle of “don’t trust, verify.”
Goertzel did not share the concern. He told BeInCrypto the secrecy is functionally irrelevant.
We are confident that we could regenerate the ‘secret circuit’ Google found using our own expertise and reasonable compute, and if we can do it, the Chinese government and other well-resourced actors certainly can too. Keeping capabilities secret buys you at most a very short window.
He added that the ASI Alliance has not withheld any of its own code for safety reasons, though the team has discussed it internally. His default position is openness.
The security benefits of decentralized scrutiny, he argued, outweigh the marginal risk reduction of secrecy when parallel discovery is the norm.
He did leave room for exceptions. If something posed a specific, acute, short-term danger, the team would hold it back.
But Google’s circuit, in his view, does not meet that bar because the knowledge to build it is already widely accessible to capable actors.
The 41% Problem
The Google whitepaper models what it calls an “on-spend attack.” A quantum computer could prepare part of the calculation in advance, then crack a Bitcoin (BTC) transaction in about nine minutes once the public key is exposed.
Since Bitcoin’s average block confirmation takes 10 minutes, the attacker has a roughly 41% probability of finishing first.
The paper also estimates that roughly 6.9 million BTC are already held in wallets whose public keys have been exposed in some form.
That includes about 1.7 million coins from the network’s earliest years, as well as additional funds affected by address reuse and Bitcoin’s Taproot upgrade, which makes public keys visible by default.
Goertzel told BeInCrypto that a 41% attack rate is not a borderline risk. It is a structural failure.
Any attack success rate above single digits is deeply problematic for a store-of-value chain. Once rational actors believe there is a meaningful probability that a transaction can be reversed or an address drained during the confirmation window, the game-theoretic assurances that underpin Bitcoin’s security model collapse. At 41%, you are well past the threshold.
He noted that the hardware to execute such an attack does not yet exist. But the mathematical proof is complete, and Google has set a 2029 deadline for the industry to migrate to post-quantum cryptography (PQC).
Bitcoin currently has no coordinated upgrade roadmap to meet that deadline.
ASI Alliance Says It Was Built for This
While much of the industry debated the implications, Goertzel told BeInCrypto his team saw this coming years ago.
He has previously predicted that human-level artificial general intelligence (AGI) could arrive around 2027 or 2028.
Google’s quantum timeline puts both breakthroughs on a collision course, and Goertzel said the ASI Alliance designed its infrastructure for exactly that convergence.
The convergence of AGI and quantum computing is very real, but framing it as purely a ‘threat’ misses the other half of the picture. At the ASI Alliance we have been designing ASI:Chain from the ground up to be quantum-oriented–not just quantum-resistant but quantum-leveraging…So for us, quantum computing arriving alongside AGI is a feature, not a bug.
ASI:Chain, the layer-1 blockchain under development by the Alliance, uses MeTTa as its smart contract language instead of Solidity.
According to Goertzel, MeTTa includes quantum-type systems, and the team has developed quantum versions of core Hyperon AGI algorithms covering attention allocation, probabilistic logic, and evolutionary learning.
The encryption layer is modular. Quantum-safe cryptographic primitives, including lattice-based and hash-based schemes, can be plugged in without redesigning the chain or requiring a hard fork.
The cost is computational overhead, which Goertzel called a real engineering challenge but not an architectural one.
The Artificial Superintelligence Alliance (FET) was formed through a token merger of SingularityNET, Fetch.ai, Ocean Protocol, and CUDOS.
Ocean Protocol later exited the merger, a move that later triggered legal action amid token theft allegations.
Its token, FET, currently trades at roughly $0.241, up by over 5% in the last 24 hours.
“A Catastrophic Precedent for Digital Property Rights”
Google’s whitepaper flagged roughly 1.7 million BTC in Satoshi-era Pay-to-Public-Key (P2PK) wallets that permanently expose their public keys.
These coins cannot be migrated. Their owners are either gone or unreachable. The paper proposed a “digital salvage” framework that could give governments legal authority to quantum-crack dormant coins.
Goertzel rejected the premise.
On principle, no–giving governments a legal pathway to crack private wallets sets a catastrophic precedent for digital property rights. The entire value proposition of crypto rests on the idea that your keys are your coins. Once you establish that a sufficiently powerful actor can legally seize coins whose owners are absent, you have undermined the foundation.
He acknowledged that those coins will eventually be cracked by someone. The question is whether a legal framework governs the process or it becomes a free-for-all. He leans toward leaving dormant coins untouched as a matter of principle, with the ecosystem pricing in their eventual vulnerability.
Binance co-founder Changpeng Zhao (CZ) offered a different view, suggesting that if Satoshi’s coins do not move within a certain period, the community might consider locking or burning those addresses before hackers can reach them.
He added that identifying all of Satoshi’s addresses without confusing them with early holders would itself be a challenge.
The Race Is Already On
Venture capitalist Chamath Palihapitiya called Google’s paper “quite reasonable” and urged the crypto community to organize a quantum-resistance roadmap within the next few years.
CZ said crypto would survive the quantum era but warned that coordinating upgrades across decentralized networks would spark debates, forks, and potentially new security bugs.
Goertzel’s position is blunter. He told BeInCrypto the projects that survive will be the ones that started engineering for quantum years ago. The ones that start after the first coins get cracked will not make it.
Against this backdrop, his advice for retail holders is practical. Move holdings to addresses using the most recent key formats available.
For Bitcoin, that means native SegWit (bech32) addresses where the public key stays hidden until spending. Avoid reusing addresses. For Ethereum (ETH), the vulnerability is more structural, and individual-level options remain limited.
When asked whether the quantum threat kills the decentralization thesis entirely, Goertzel told BeInCrypto that it does not.
But it raises the stakes enormously. If a centralized actor cracks dormant Bitcoin and captures hundreds of billions in assets, that becomes a massive centralizing force. The thesis, however, was never premised on legacy cryptography lasting forever.
The decentralization thesis survives if decentralized projects out-engineer centralized ones on the quantum transition. That is exactly what we intend to do.
Google’s paper, combined with a separate Caltech and Oratomic study showing Shor’s algorithm can execute at cryptographic scale with 10,000 qubits, suggests the preparation window is shorter than most assumed.
Goertzel claims his team is already on the other side of that window. The rest of the industry is now racing to catch up.
The post ASI Alliance Can Rebuild Google’s Secret Quantum Circuit, CEO Ben Goertzel Says appeared first on BeInCrypto.
Federal Reserve Chair Jerome Powell, in a wide-ranging talk at Harvard University, said Monday that he sees inflation expectations as grounded despite rising energy prices so the central bank doesn’t need to respond with higher interest rates.
As his term leading the central bank nears an end, Powell avoided questions about the longer-term direction of interest rates or inclinations his designated successor has espoused.
In the near term, he said the proper move is to look beyond the short-term gyrations of the energy market and focus on the Fed’s goals of stable prices and low unemployment.
“Inflation expectations do appear to be well anchored beyond the short term, but nonetheless, it’s something we will eventually maybe face the question of what to do here,” he said during a question-and-answer question with a moderator and students. “We’re not really facing it yet, because we don’t know what the economic effects will be, but we’ll certainly be mindful of that broader context when we make that decision.”
As he has in the past, Powell said he believes the current rate target, in a range between 3.5%-3.75%, is “a good place” for the Fed to sit as it observes events currently playing out, including the Iran war and the impact tariffs are having on prices.
Jerome Powell, chairman of the US Federal Reserve, during a moderated conversation at Harvard University in Cambridge, Massachusetts, US, on Monday, March 30, 2026.
Mel Musto | Bloomberg | Getty Images
The comments appeared to register in financial markets, with traders no longer pricing in a significant chance of a rate hike this year. As recently as Friday morning, markets were looking at a better than 50% probability of a quarter percentage point increase amid expectations the Fed would react to the surge in energy costs. However, odds of a hike by December fell to 2.2% after Powell’s appearance.
Powell said raising rates now could have negative effects on the economy later. He noted that Fed rate moves have a lagged impact on the economy, so tightening here wouldn’t help the inflationary impact of the Iran war.
“By the time the effects of a tightening in monetary policy take effect, the oil price shock is probably long gone, and you’re weighing on the economy at a time when it’s not appropriate. So the tendency is to look through any kind of a supply shock,” he added.
Market-based measures such as breakeven rates in Treasury yields indicate few fears of an inflation spike. Breakevens measure the difference between Treasurys and inflation-indexed securities. The five-year breakeven rate most recently was around 2.56% and trending lower over the past 10 days.
Powell’s term ends in mid-May, and President Donald Trump has nominated former Governor Kevin Warsh as the next chair. However, Warsh’s nomination is being held up in the Senate Banking Committee as U.S. Attorney Jeanine Pirro continues her investigation into renovations at Fed headquarters.
Though a judge threw out a subpoena Pirro’s office issued to Powell, she has appealed the decision. While the case is being adjudicated, Sen. Thom Tillis, R-N.C., has vowed to prevent the nomination from going through.
For his part, Warsh has stated a preference for lower interest rates than the current level. Asked to comment on his successor’s plans, Powell said, “I’m not going to swing at that pitch.”
Regarding private credit, Powell noted rising defaults, investor withdrawals and concerns about wider issues in the $3 trillion sector.
“I’m reluctant to say anything that suggests that we’re dismissive of the risk, but we’re looking for connections to the banking system and things that might result in contagion. We don’t see those right now,” he said. “What we see is a correction going on, and certainly there’ll be people losing money and things like that. But it doesn’t seem to have the makings of a broader systemic event.”
Crypto World
Crypto edges higher as oil dips, but futures market shows hesitation: Crypto Markets Today
Crypto markets rallied on Wednesday as oil momentarily slipped below $100 per barrel after U.S. President Donald Trump said the war in Iran will end in “two to three weeks.”
Bitcoin trades at $68,500 having risen by 0.4% since midnight UTC and 3.1% over the past 24 hours, while ether (ETH) is back at $2,130 after a brief stint below $2,000 last week.
The broader crypto market remains in a downtrend dating back to October, although sentiment has shifted slightly following a period of consolidation between $62,500 and $75,000 since early February.
A selection of altcoins have performed particularly well, notably algorand (ALGO), which is up by 22% in the past 24 hours as it bounces back from oversold territory.
Derivatives positioning
- The crypto futures market appears to be churning rather than building clear directional positions, as trading volumes have risen 23% to $210 million over the past 24 hours, while open interest has remained broadly stable at around $106 billion.
- Open interest in major USD- and USDT-denominated futures has clearly diverged from BTC’s recovery from the weekend low of around $65,000. This suggests the rebound is not being driven by a meaningful buildup in leveraged positions, but rather by spot demand or short covering, pointing to a lack of strong conviction behind the move.
- Ether’s OI has risen slightly alongside its spot price, signaling participation from leveraged traders.
- ETH and ZEC stand out as major coins with positive OI-adjusted CVD and funding rate. This combination points to aggressive bidding in the futures market, with traders actively opening long positions and paying a premium to maintain them.
- The market for ADA, XMR, BCH and SHIB suggests otherwise.
- Bitcoin and Ether implied volatility indices continue to present a picture of calm.
- On Deribit, risk reversals continue to show a bias for BTC and ETH put options, which offer protection against price slides. Bearishness is slightly more pronounced in BTC options.
Token talk
- The CoinDesk Computing Select Index (CPUS) was the best performing benchmark on Wednesday, rising by 2.7% since midnight UTC while the CoinDesk Smart Contract Platform Select Capped Index (SCPXC) and the DeFi Select Index (DFX) are up by 1.5% apiece.
- The bitcoin and major-dominant CoinDesk 5 (CD5) and CoinDesk 20 (CD20) have increased by 0.35% and 0.69% respectively, indicating underperformance against the wider altcoin market.
- Algorand (ALGO) led the market gains on Wednesday but it was closely followed by decentralized finance (DeFi) tokens MORPHO and JUP, which posted double digit gains.
- A disproportionate rise in open interest for assets like ETH and ZEC suggests the recent move has been backed by leverage as opposed to spot buying, which could unwind in news to the contrary of Trump’s statement is released this week.
The US dollar is retreating from recent highs, moving into a moderate correction after a prolonged period of gains. Pressure on the currency is building amid weaker-than-expected macroeconomic data, while market participants adopt a wait-and-see approach ahead of key labour market releases, including the ADP report.
The current dynamics reflect a gradual cooling in expectations regarding the resilience of the US economy. Recently published indicators point to a slowdown in business activity and easing labour market tightness, reducing support for the dollar after it reached local highs. At the same time, upcoming releases remain a key factor that could either reinforce the corrective move or restore demand for the US currency.
Among the published figures, investors focused on mixed US macro data. The Chicago PMI fell to 52.8 versus expectations of 54.8, signalling a slowdown in the manufacturing sector. In addition, JOLTS job openings came in below forecasts (6.882 million vs 7.240 million), indicating a gradual cooling in the labour market. Further pressure came from regional business activity indices, including data from the Dallas Fed, which reinforced doubts about the sustainability of the current economic momentum.
USD/JPY
After reaching fresh yearly highs and testing the psychological 160.00 level, USD/JPY has moved lower, forming a corrective pullback. Technical analysis suggests a potential decline towards the 157.50–158.00 area, as a dark cloud cover pattern has formed on the daily timeframe.
If the price consolidates above the 159.40–159.80 range, the bearish correction scenario may be invalidated.
Key events for USD/JPY:
- today at 15:15 (GMT+3): US ADP non-farm employment change
- today at 15:30 (GMT+3): US core retail sales
- today at 16:45 (GMT+3): US manufacturing PMI
USD/CAD
USD/CAD is also showing a pullback from local highs following a strong rally. The formation of an Evening Star pattern near the 1.3930 level indicates a slowdown in bullish momentum and the potential for a correction towards 1.3860–1.3880.
At the same time, a move above 1.3970 could support a resumption of the uptrend and the formation of a new bullish impulse.
Key events for USD/CAD:
- today at 16:30 (GMT+3): Canada manufacturing PMI
- today at 17:30 (GMT+3): US crude oil inventories
- today at 18:30 (GMT+3): Atlanta Fed GDPNow indicator
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Key Takeaways
- Samsung and SK Hynix shares surged 10–13% Wednesday following significant March declines
- South Korea’s KOSPI index rallied more than 8%, bouncing back from a 19%+ monthly decline
- Optimism around a potential Middle East conflict resolution improved market sentiment
- The semiconductor giants had plunged 23–24% in March amid geopolitical concerns and AI memory chip demand uncertainty
- Overnight gains on Wall Street, spurred by President Trump’s Iran statements, provided momentum
Shares of Samsung Electronics surged 13% to reach 189,600 won during Wednesday’s trading session, while SK Hynix climbed approximately 11% to 893,000 won. The dramatic recovery followed a punishing March for both semiconductor manufacturers.
South Korea’s benchmark KOSPI index jumped 8.4% to close at 5,478.70, with the semiconductor sector rebound providing substantial support. The index had tumbled more than 19% during March.
The two technology giants each lost approximately 23–24% of their value last month. Investor anxiety centered on the escalating Middle East situation, which threatened to increase manufacturing expenses and disrupt global supply networks.
Additional pressure emerged from questions surrounding sustained demand for memory semiconductors utilized in artificial intelligence applications. Google‘s introduction of an algorithm reportedly capable of reducing AI memory needs added to sector headwinds.
Speculation intensified that memory chip pricing could weaken after OpenAI implemented cost-cutting measures. The artificial intelligence company discontinued its video generation platform, Sora, as part of broader budget reductions.
Strategic OpenAI Partnership Under Spotlight
Toward the end of 2025, OpenAI entered into an agreement with Samsung and SK Hynix for the procurement of 900,000 DRAM wafers from the Korean manufacturers. This partnership had previously fueled investor enthusiasm for both companies.
Both semiconductor producers had enjoyed rising memory chip valuations throughout late 2025, supported by expectations that AI-driven demand would exceed available supply. March’s correction erased portions of those earlier advances.
Kiwoom Securities analyst Han Ji-young attributed Wednesday’s rally to value-oriented purchasing, noting that blue-chip stocks had declined sufficiently to entice investors back into the market.
“The stock market is highly likely to enter a recovery phase rather than experience further decline,” Han stated in client communications.
Peace Prospects in Middle East Boost Market Confidence
Market sentiment strengthened following President Trump’s Tuesday statement indicating the United States would withdraw from Iran within a two to three-week timeframe. The President delivered these remarks during a White House press availability.
Iranian President Masoud Pezeshkian indicated Tehran’s willingness to conclude hostilities, though he requested certain unspecified assurances.
These diplomatic developments triggered an overnight rally across U.S. markets, with the positive momentum extending into Asian trading sessions Wednesday.
Samsung shares concluded trading at 189,600 won, approximately $125.83 in U.S. dollar terms. SK Hynix finished at 893,000 won.
The KOSPI index settled at 5,478.70, representing an 8.4% single-day advance.
Despite Wednesday’s gains, both Samsung and SK Hynix continue trading substantially below their pre-March levels.
Crypto World
Uniswap Foundation Reports $85.8M in Total Assets for FY2025, Runway Extends to January 2027
TLDR:
- The Uniswap Foundation held $49.9M in cash and stablecoins alongside 15.1M UNI tokens at year-end 2025.
- A total of $106.2M was allocated toward grants and incentives, covering both new and prior commitments.
- The Foundation committed $26M in new grants throughout FY2025 and disbursed $11M from prior commitments.
- The UNIfication governance proposal, approved December 26, 2025, will reshape financial projections in Q1 2026.
The Uniswap Foundation published its unaudited financial summary for fiscal year 2025 on March 31. The report covers the organization’s financial position through December 31, 2025.
It projects an operational runway through January 2027. Total assets stood at $85.8 million at year-end market prices.
This includes $49.9 million in cash and stablecoins, 15.1 million UNI tokens, and 240 ETH. The report also precedes structural changes tied to the UNIfication governance proposal, approved on December 26, 2025.
Asset Holdings and Fund Allocation
The Foundation held three categories of assets as of year-end 2025. Cash and stablecoins totaled $49.9 million, while 15.1 million UNI tokens and 240 ETH were also on hand. Together, these assets represented $85.8 million in total market value at closing rates.
Of the total earmarked funds, $106.2 million was allocated toward grants and incentives. This breaks down into $87.5 million for new grant commitments in the future. An additional $18.7 million was reserved for previously committed grants still awaiting disbursement.
Beyond grants, $26.3 million was set aside for operating expenses and employee token awards. These two budget lines cover the Foundation’s staffing, administration, and token compensation. They reflect planned spending across its core operational functions.
The fiat and stablecoin reserves were designated primarily for grantmaking and day-to-day operations. UNI token reserves, however, were held to support future runway needs. This approach allowed the Uniswap Foundation to retain upside exposure to UNI’s market performance over time.
The projected spend figures are set to be updated in the Q1 2026 financial report. That update will reflect changes following the UNification proposal’s approval on December 26, 2025. Organizational shifts post-passage are expected to revise the foundation’s financial outlook going forward.
FY2025 Grant Activity and Ecosystem Milestones
Throughout FY2025, the Uniswap Foundation committed $26 million in new grants to ecosystem projects. It also disbursed $11 million from previously committed grants across the year. In Q4 2025 alone, $5.8 million in new grants were committed.
Q4 2025 disbursements reached $2.1 million from prior commitments. These funds went toward builders and developers operating across the broader ecosystem. Grant activity remained steady throughout all four quarters of the year.
On the operational side, the Foundation accrued $9.7 million in operating expenses for FY2025. Employee token awards of 0.45 million UNI were excluded from that figure. Interest revenue on fiat holdings contributed an additional $1.7 million to the organization’s income.
The Foundation also received 20.3 million UNI tokens from the Uniswap Treasury via the Uniswap Unleashed Proposal. At year-end prices, this transfer equaled approximately $114 million in market value. This inflow added materially to the Foundation’s overall reserve position during 2025.
Key milestones in 2025 included the launch of Uniswap v4 and Unichain. More than 1,500 builders onboarded to v4 during the calendar year.
These developments supported the organization’s ongoing commitment to expanding decentralized finance infrastructure.
Crypto is pseudonymous – a halfway house between anonymous and public.
While you don’t need to expose your identity to open a crypto wallet, public blockchains leave a visible record of your activity for all to see.
A single withdrawal from a KYC exchange can link your real name to a wallet, and once that wallet is tied to your identity, anyone can trace the rest of your on-chain activity.
This is why, as on-chain analysis tools become more widely used, many users are paying closer attention to what financial privacy actually means in crypto.
Mixero was built around this issue. The platform focuses on helping users protect their transaction history while remaining in a decentralized environment.
Public Blockchains Make Wallet Activity Easy to Follow
At the center of Mixero’s service is CoinJoin, a method used to combine transactions in a way which makes blockchain analysis far more difficult.
Rather than sending funds through a direct and easily traceable path, CoinJoin helps obscure the relationship between sender and recipient. This is Mixero’s core solution for Bitcoin users who want stronger privacy without stepping outside the asset itself.
The company argues that privacy has become an important part of using crypto in a mature way. On public ledgers, transaction histories can reveal far more than a single payment. They can expose balances, spending patterns, wallet links, and long-term activity. This can become a serious concern for users who value financial discretion.
Mixero’s platform is designed to keep the process simple. Users can enter one or several destination BTC addresses, adjust settings, receive a signed Letter of Guarantee, and track the order through a status page.
The service is also available through Tor, while Mixero says it keeps no logs of user activity.
Advanced Mode Uses Monero for Deeper Privacy
For users who want a higher level of protection, Mixero offers Advanced Mode. This feature routes transactions through Monero before returning them to Bitcoin. The process works through an XMR bridge and automatically generated wallets, giving users access to the strongest privacy option Mixero offers.
Monero uses built-in privacy technologies such as stealth addresses, ring signatures, and RingCT to conceal transaction details. These tools are designed to hide the sender, receiver, and amount involved in a transfer, which makes Monero one of the most privacy-focused networks in the market.
By routing Bitcoin through Monero and back again, Mixero gives users a way to get stronger privacy without leaving BTC behind at the end. It is aimed at people who want more cover than
About Mixero
Mixero is a privacy-focused crypto service built for users who want stronger transaction privacy on public blockchains. The platform offers CoinJoin-based Bitcoin mixing, Tor access, signed Letters of Guarantee, and an Advanced Mode which routes transactions through Monero for deeper anonymity. Designed for users who value discretion in an increasingly transparent on-chain environment, Mixero aims to make privacy tools more accessible without sacrificing ease of use. Its service is focused on helping users reduce the visibility of their transaction history while staying within the crypto ecosystem.
The post Mixero Pushes for Real Privacy on Public Blockchains appeared first on BeInCrypto.
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