EthCC 2026 has shifted decisively from a builders’ retreat to an institutional showcase, as this year’s edition in Cannes hosts the inaugural “Agora” forum curated by market data provider Kaiko for more than 60 expert speakers and roughly 600 TradFi and crypto-market professionals.

Held on March 31 at the JW Marriott and branded as a neutral stage “where the foundations of digital market structure will be examined,” the event is explicitly designed for executives from banks, asset managers, trading venues and blockchain projects to interrogate how far crypto and digital assets can underpin the next generation of financial infrastructure.

If previous EthCC editions were best known for governance wars and protocol roadmaps, Cannes has brought bankers directly into the developers’ line of sight. Reporting from French outlet CrypCool notes that “Jean‑Marc Stenger, PDG de SG Forge,” alongside Aave founder Stani Kulechov and representatives from Euroclear, Bloomberg, BNP Paribas, S&P Global, Amundi, Google and Tradeweb, are now part of the official program, with Euroclear’s Isabelle Delorme cited as evidence that “l’institution est désormais dans la salle.” A separate analysis from TechFlow captures the mood shift more bluntly: “What was new was the formal participation of traditional financial institutions… on EthCC’s official agenda for the first time,” the publication writes, arguing that developers and market-structure professionals are finally sharing the same stage rather than operating in parallel tracks.

The core of the Agora’s agenda is not token launches but plumbing. According to Kaiko’s event materials, discussion tracks span tokenization of financial instruments, perpetual futures and ETPs, collateral mobility, and the convergence between centralized and decentralized venues. As one invitation post from Kaiko’s Hadrien Comte on LinkedIn put it, the goal is “a day of conversation focusing on tokenization, market infrastructure transformation, capital efficiency in institutional crypto, and next-generation digital asset investment strategies” rather than marketing pitches.

Underpinning those debates is Europe’s maturing regulatory environment. Commentaries from TechFlow, ODaily and Moomoo all highlight a “regulatory puzzle” coalescing around the EU’s Markets in Crypto‑Assets Regulation (MiCA), which is expected to be fully implemented by mid‑2026 and will cover trading platforms, stablecoin issuers and institutional participants. Combined with new EU‑wide and national tax-reporting frameworks for digital assets, that clarity offers the legal scaffolding banks and asset managers say they need before committing more balance sheet to Ethereum-based products.

For Ethereum (ETH) itself, the message from Cannes is that future liquidity may rely as much on regulated rails as on organic DeFi flows. CrypCool argues that the involvement of SG Forge, Euroclear and Tradeweb in Ethereum debates “valide une thèse: la convergence TradFi/DeFi est un chantier opérationnel,” adding that for ETH holders “la profondeur institutionnelle du marché se construit en partie ici.” That view is echoed in a Phemex dispatch, which describes EthCC 2026 as marking “un changement significatif dans l’écosystème Ethereum, avec la participation… d’institutions financières traditionnelles” and the launch of The Agora as a forum dedicated to aligning digital assets with traditional capital markets.

In short, EthCC’s centre of gravity has moved. The same conference that once incubated “governance meme” experiments now features Bloomberg terminals, Euroclear settlement specialists and bank capital-markets teams arguing over how Ethereum’s blockspace, rollups and collateral models fit into their risk frameworks. Whether that ultimately leads to deeper, more stable liquidity for ETH or dilutes the ecosystem’s grassroots ethos is a debate that will likely continue long after the lights go down in Cannes.

Key takeaways

• Meta plans to introduce dollar-linked stablecoin payments across its platforms in late 2026. Unlike its earlier Libra attempt, the company will not issue its own cryptocurrency but instead integrate existing stablecoins.

• Regulatory opposition to the Libra/Diem project made it clear that governments were uncomfortable with Big Tech issuing private global currencies. Meta’s new strategy reflects those lessons by avoiding direct control over the currency itself.

• Instead of managing stablecoin reserves or issuance, Meta intends to work with external partners that handle infrastructure, compliance and settlement, while Meta itself focuses on user experience and payment distribution.

• With billions of users across Facebook, Instagram and WhatsApp, Meta can embed stablecoin payments into everyday social and commercial interactions, potentially creating one of the largest digital payment ecosystems.

Meta is re-entering the stablecoin market with a revised strategy. Following the regulatory challenges that ended its previous Libra project, the company plans to introduce dollar-linked digital payments across its social media platforms in late 2026.

Rather than developing its own cryptocurrency, Meta is now opting to facilitate third-party stablecoins on its apps. This approach indicates a shift in focus. Instead of managing the currency itself, the company aims to leverage its massive user base to control how and where these transactions occur.

This article explores why Meta’s 2026 stablecoin strategy relies on partnerships rather than issuing its own currency. It examines how regulatory lessons from Libra, new stablecoin rules and Meta’s vast platform distribution are shaping a model focused on payment integration rather than monetary control.

The enduring lesson of Libra

To understand why Meta is being cautious with digital payments today, you need to look at its earlier attempt.

In June 2019, Meta, then Facebook, announced Libra, an ambitious plan to create a global digital currency linked to a basket of traditional currencies. The idea was to enable fast, low-cost payments across Facebook, WhatsApp and Instagram and to build a new cross-border payment system used by billions of people.

However, regulators quickly pushed back.

Governments in the US, Europe and other regions raised several concerns. They worried that a prominent private company launching a currency could weaken national monetary control and create risks to financial stability. There were also concerns about inadequate safeguards against money laundering and illicit finance. Meta’s past controversies over data privacy, including the Cambridge Analytica scandal, further deepened distrust.

The idea that a social media company with billions of users could launch something resembling a private global currency alarmed policymakers. Under strong political pressure, several partners left the project. Libra was later renamed Diem, but the project eventually shut down in 2022.

The episode made it clear that regulators would not accept Big Tech issuing its own currency. Meta’s current strategy reflects that lesson. Instead of creating a new coin, it now plans to integrate existing regulated stablecoins from partners and act mainly as a payments platform.

An alternative stablecoin approach for 2026

Meta is renewing its efforts in stablecoins, this time by integrating stablecoin payments directly into its platforms without issuing its own coin.

The company has issued requests for proposals (RFPs) to external partners capable of handling the back-end stablecoin infrastructure. Meta’s role would center on crafting a seamless user payment experience within its apps rather than managing the currency itself.

This could involve introducing a built-in digital wallet feature, allowing users to send and receive stablecoin payments throughout Meta’s ecosystem, which includes Facebook, Instagram and WhatsApp.

The planned rollout targets the second half of 2026.

This strategy marks a significant shift from the earlier Libra/Diem model. Instead of attempting to launch a new global monetary system, Meta is now positioning itself as a major distribution and user interface layer for established, regulated stablecoins like USDC (USDC) or USDt (USDT), potentially through partners such as Stripe.

Did you know? The term “stablecoin” was first widely used around 2014 and 2015, as crypto developers experimented with tokens designed to maintain stable value against fiat currencies, long before large tech platforms began exploring their payment potential.

Why partners may matter more than owning the power

At first glance, Meta’s decision to outsource stablecoin infrastructure could seem like a step back from control. It may actually amplify the company’s strengths.

Meta holds a wide distribution reach. With billions of active users across Facebook, Instagram and WhatsApp, it operates one of the planet’s largest communication and social networks. Seamlessly embedding stablecoin payments into these everyday apps could rapidly establish one of the world’s biggest digital payment ecosystems. It enables Meta to reach its objective without the need to issue a coin itself.

In this setup, real value shifts away from minting the currency and toward directing how and where it moves. Stablecoin issuers handle reserves, backing and regulatory compliance, while infrastructure providers manage settlement and back-end rails. What Meta brings to the table is the intuitive user interface, the social context and the daily transaction flow.

The Stripe angle

Stripe has become a front-runner for partnership in Meta’s revived stablecoin push. It has aggressively built its stablecoin capabilities, taking steps such as its acquisition of Bridge, a specialized crypto infrastructure firm that powers custody, transfers and blockchain-based payments at scale.

The ties between Meta and Stripe run deep. Stripe co-founder and CEO Patrick Collison joined Meta’s board of directors in April 2025, fueling speculation about closer strategic alignment between the two companies.

If Stripe, through Bridge, becomes the primary back-end partner, Meta gains instant access to a mature, regulated payments stack. This would help Meta bypass the heavy lift of building compliant infrastructure from the ground up. Stripe would own the complex financial pipeline, including settlement, compliance and reserves. Meta, on the other hand, would focus on delivering a frictionless, engaging user experience across its massive social ecosystem.

Regulatory changes have reshaped the industry

The evolution of the regulatory environment is a key reason Meta is choosing partners over power in its 2026 stablecoin push.

In 2025, the US passed the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act). This law created a clear federal framework for payment stablecoins. It established strict requirements for 1:1 reserves with high-quality liquid assets. Other compliance requirements include issuer licensing and oversight, risk management, transparency through monthly reserve disclosures and consumer protections.

While the GENIUS Act brings much-needed clarity and promotes innovation in regulated stablecoins, it also imposes certain restrictions. Only permitted issuers, typically regulated banks, their subsidiaries or qualified nonbank entities, can legally issue payment stablecoins in the US.

This environment favors established, heavily regulated financial institutions and infrastructure providers over large consumer tech companies. By choosing to partner with compliant stablecoin issuers and infrastructure providers instead of issuing its own coin, Meta sidesteps regulatory burdens, compliance costs and intense scrutiny.

Did you know? The original Facebook payments system launched in 2009, allowing users to purchase virtual goods in games. It was one of Meta’s earliest experiments in building a payments ecosystem inside social platforms.

Stablecoins as the foundation for AI-driven commerce

Meta’s renewed focus on stablecoins also ties into a larger shift in technology. The company is making major investments in artificial intelligence (AI), with projections for 2026 indicating a capital expenditure (CapEx) range of $115 billion to $135 billion. A significant portion of this spending supports the development of autonomous digital agents. These are AI systems that can independently handle tasks such as shopping, booking services and executing payments on behalf of users.

In this scenario, stablecoins could serve as an ideal global settlement layer. These digital dollars offer instant, programmable, borderless transactions that machines can execute reliably and efficiently.

For Meta, embedding stablecoin payments could unlock several practical use cases, including:

• Fast, low-cost cross-border payouts to creators worldwide

• Seamless transactions in international marketplaces

• Automated purchases and payments initiated by AI agents

• Easier financial access and payments in emerging markets where traditional banking remains limited

In this context, stablecoins move beyond speculative crypto tools. They become essential infrastructure for machine-to-machine and AI-powered commerce.

Did you know? Stablecoins are widely used for international remittances and cross-border payments, particularly in regions where traditional bank transfers are slow or expensive.

The wider competition among platforms

Meta is not the only company exploring stablecoin payments.

Across the technology industry, major platforms are actively looking for ways to bring digital currencies into their ecosystems. The main goal is no longer to create and issue new coins. Instead, the focus is on controlling the payment systems built on top of existing stablecoins.

Shopify, for instance, facilitates payments in USDC on Base at checkout through partnerships with Coinbase and Stripe. PayPal’s PYUSD is designed for payments on PayPal and for transfers between PayPal, Venmo and external wallets or exchanges.

The reasoning is straightforward. When a platform enables and processes transactions, it gains valuable insight into users’ economic behavior. This information allows the company to develop new products and services tied to payments.

Stablecoins provide a practical solution. They enable programmable, instant and borderless payments without depending completely on traditional banks. For companies with hundreds of millions or billions of users worldwide, this represents a very large opportunity.

Risks remain significant

Even with a partnership-based approach, Meta’s stablecoin plan still faces certain risks.

• Regulatory constraints: Regulatory attention on large technology companies continues to be strong, particularly when they enter financial services. Governments could introduce new rules or limits on how platforms offer or integrate digital payments.

• Operational challenges: These include the risk of fraud, the need for strong wallet security, the high costs of regulatory compliance and the complexity of handling customer disputes at a very large scale.

• User reluctance: Finally, the entire effort depends on whether users actually choose to use it. If the sign-up process feels too difficult, or if rules add too much extra friction, many people may simply stick with familiar payment methods such as cards or bank transfers.

Meta’s task will be to meet all regulatory requirements while keeping the experience simple and easy for users.

In Jack Dorsey’s view of the world, the job most at risk from the AI revolution is the middle manager.

Dorsey argues in a new essay, “From Hierarchy to Intelligence,” published with Roelof Botha, Sequoia Capital’s managing partner, an investor in Block, that his company’s decision to cut approximately 4,000 of its more than 10,000 employees was not a cost reduction but a permanent restructuring to replace middle managers with AI.

Corporate hierarchy, the essay argues, has always existed to solve one problem: routing information through organizations too large for any single person to oversee.

Managers aggregate context from below, act as messengers from above, and maintain alignment across teams. AI can now perform those functions continuously and at scale, the authors argue, making the messenger redundant.

In place of management layers, Dorsey and Botha proposes two AI-driven “world models.”

One aggregates internal data from code, decisions, workflows, and performance metrics to create a continuously updated picture of company operations, replacing the context that managers traditionally carried.

The other maps customer and merchant behavior using transaction data from Cash App and Square.

Those models feed what Block calls an “intelligence layer” that composes financial products dynamically to fit market demand.

If done properly, the models absorb the coordination work that previously justified the existence of middle management.

Rather than building from fixed roadmaps, the essay proposes breaking Block’s business into modular capabilities, including payments, lending, card issuance and payroll.

When the system identifies a need, the essay’s example is a merchant facing a seasonal cash flow gap, it assembles a solution from existing capabilities. When it cannot, the missing capability defines what gets built next, replacing the product roadmap with a system-generated backlog.

The organizational structure is reduced accordingly. Block plans to operate with three roles: individual contributors who build the system, directly responsible individuals who own specific outcomes on 90-day cycles, and player-coaches who remain hands-on while developing people.

Dorsey told Wired in early Marchthe restructuring was triggered by a capability shift he observed in December in tools including Anthropic’s Opus 4.6 and OpenAI’s Codex 5.3, which he said was now capable of operating effectively in large codebases.

But current and former Block employees told the Guardian that roughly 95% of AI-generated code changes still require human modification, and that AI tools cannot yet lead in regulated areas like banking and money transfers.

Welcome to our institutional newsletter, Crypto Long & Short. This week:

• Nilmini Rubin on the challenge facing crypto and traditional markets to create a hybrid, shared governance structure.
• Meredith Fitzpatrick covers how financial institutions must fundamentally rethink AML risk as crypto and TradFi converge.
• Top headlines institutions should pay attention to by Francisco Rodrigues.
• Maple loans surge past $1 billion in Chart of the Week.

-Alexandra Levis

Expert Insights

Governance is the real Layer 1

By Nilmini Rubin, chief policy officer, Hedera

When Silicon Valley Bank collapsed in 2023, USDC briefly lost its dollar peg after billions in reserves were trapped in the bank. The impact spread quickly, stalling markets, repricing assets mid-transaction and triggering a broader confidence shock. While regulators stress-test traditional markets, this event exposed a new risk where failures in traditional finance can directly impact digital assets.

This episode raised fundamental questions about what happens if risk moves in the other direction, from crypto to the traditional market: who intervenes, who absorbs losses and how is confidence in markets restored?

As blockchains begin underpinning financial markets, the next phase of digital assets will be defined not only by innovation but by coordinated accountability. That accountability is shaped by how networks are designed.

The false binary

For years, blockchain debates revolved around a familiar divide: public vs. private networks.

Permissionless networks maximize openness and censorship resistance, but can struggle with coordinated upgrades, regulatory integration or emergency intervention. Private systems emphasize control and compliance over neutrality and interoperability.

As institutional adoption accelerates, hybrid models are emerging as the preferred solution.

Hybrid architectures combine public verifiability with open participation and predictable governance. This renders them more suitable for regulated use cases and compliance frameworks that require greater transparency and clear roles. Coordinated accountability, rather than simply public or private choices, is blockchain’s next major challenge.

Blockchain architecture is increasingly converging toward hybrid governance models.

When governance meets crisis

In complex systems, responsibilities are usually defined before problems emerge. Participants know who has authority, who absorbs losses and how emergencies are handled.

Blockchain networks should begin with that level of clarity. When stress arrives through sanctions enforcement, protocol failures or market crashes, effective governance proves a difficult test.

The industry has already seen early signals. During the March 2020 market crash, MakerDAO required emergency intervention after auction failures erased millions in value. The protocol recovered, but we cannot allow these incidents to occur frequently and at scale. In other cases, networks have used coordinated forks to address hacks or illicit activity, but only after the fact.

As tokenization expands, increasing resilience will require governance systems that anticipate crises and define decision-making before an event occurs to effectively mitigate.

Putting governance to the test

Mature financial systems routinely stress-test their governance structures to ensure resilience well before moments of disruption.

Hybrid networks must bring that discipline on-chain. Governance stress testing clarifies roles, aligns incentives and strengthens coordination under pressure, helping the industry prepare for scenarios such as stablecoin volatility, regulatory shifts and AI-driven governance dynamics.

Governance is the real Layer 1

Digital assets are reimagining ownership and participation. The next challenge is applying that same creativity to governance.

The networks that endure will not be the ones with the most tokens or the fastest throughput. They will be the ones that know how to govern effectively when the system comes under pressure.

Headlines of the Week

– By Francisco Rodrigues

The crypto industry has continued navigating the regulatory system over the week, making its way into the mortgage market while also seemingly being stopped from offering yields on stablecoin balances. Other major developments further build trust in the industry, even as prices drop.

Expert Perspectives

The new financial order: updating TradFi risk for crypto

– By Meredith Fitzpatrick, partner and head of cryptocurrency, Forensic Risk Alliance

The convergence of traditional finance and cryptocurrency is no longer theoretical sci-fi — it’s here. Regulatory clarity across major jurisdictions is accelerating institutional entry into digital assets, from Europe’s Markets in Crypto-Assets (MiCA) framework to expanding U.S. legislative momentum with the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. For financial institutions, the question is no longer whether to engage with crypto, but how to do so safely.

The critical misstep many institutions make is treating crypto as an extension of existing products. It is not. Crypto fundamentally changes how anti-money laundering (AML) risk must be assessed, monitored and controlled.

At its core, blockchain introduces three defining characteristics: immutability, pseudonymity and borderless value transfer. These reshape both financial crime risk and the tools required to manage it.

Control shifts from accounts to keys

In traditional finance, assets are secured through centralized systems and reversible transactions. In crypto, control rests with private keys. When institutions offer custody, AML risk becomes inseparable from cybersecurity risk. A compromised key is not just a breach — it is an irreversible transfer of value, often beyond recovery. This requires controls such as multi-signature authorization, cold storage, strict access governance and wallet segregation — all of which sit outside traditional AML frameworks but are critical to risk mitigation.

Non-custodial wallets mean dynamic risk assessments

Traditional AML relies heavily on customer identity and static risk profiling. In crypto, this model breaks down. Customers can transact through non-custodial wallets that exist outside institutional onboarding frameworks, and illicit activity often hides in transaction behavior rather than identity.

As a result, risk assessment must evolve from “who the customer is” to “what the wallet does.” This requires continuous monitoring of on-chain activity, including exposure to high-risk counterparties, mixers and decentralized protocols. Risk becomes dynamic, not periodic.

Crypto financial crime is structurally more complex

Cryptocurrency money laundering can involve newer technologies, such as chain-hopping and the use of privacy-enhancing technologies like mixers, that have no direct parallel in traditional finance. Transactions can traverse multiple jurisdictions in minutes, rendering legacy screening systems insufficient. Effective AML now depends on blockchain intelligence: the ability to trace funds, identify direct and indirect exposure to risky parties and interpret transaction patterns across networks.

These shifts require a corresponding evolution in governance and risk management. Boards and risk committees must redefine risk appetite to reflect crypto-specific exposures. Institutions should introduce specialized teams (e.g., digital asset approval committees and high-risk customer panels) to manage rapidly changing risks.

Most importantly, the Enterprise-Wide Risk Assessment (EWRA) must become dynamic. Static, point-in-time assessments are inadequate in an environment where risk profiles can change with a single transaction.

The table below illustrates how customer risk assessment must evolve:

Finally, institutions must invest in new capabilities. Fluency in blockchain analytics for transaction monitoring and forensic investigation are no longer niche skills — they are core AML functions. Most organizations will require a hybrid model combining internal expertise with external specialists.

Professionals in this space must recognize that cryptocurrency compliance is not merely adapting existing frameworks but requires fundamentally different approaches to transaction monitoring, due diligence and incident investigation. Success requires compliance teams to understand traditional regulatory requirements and crypto-specific investigation challenges. Institutions approaching crypto adoption with appropriate forensic rigour — treating it as a fundamental compliance transformation rather than simple product addition — will be best positioned for sustainable success.

Chart of the Week

Maple loans surge past $1B on record $350M single-day issuance

Maple’s loans outstanding jumped back above $1 billion last week as the protocol issued $350 million in loans on a single day. With total AuM now exceeding $4.6 billion, there is a divergence between the protocol’s strong fundamentals and the associated SYRUP token price action. This growth, in spite of broader market conditions, continues to highlight the resilient demand for institutional-grade lending among crypto-native firms.

Listen. Read. Watch. Engage.

Looking for more? Receive the latest crypto news from coindesk.com and market updates from coindesk.com/institutions.

Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc., CoinDesk Indices or its owners and affiliates.

• StakeStone price jumped from $0.11 to above $0.26, going vertical amid a spike in daily volume.
• The sharp gain follows a whale accumulating over 25.5 million STO tokens.
• STO price could see a steep pullback amid profit-taking deals.

StakeStone (STO) price exploded during early trading on April 1, pumping more than 130% to hit a new all‑time high.

The vertical action, which occurred amid a broader consolidation across the crypto market, saw STO’s intraday trading activity surge.

The token is in price discovery, but can the lofty levels hold?

Why StakeStone jumped 136% today

STO token posted a sharp intraday surge on Wednesday, significantly outperforming the broader altcoin market.

While most cryptocurrencies traded near key support levels, STO jumped from around $0.11 to a new all-time high above $0.26.

The move marked a gain of roughly 136% and made it the top performer among the 500 largest cryptocurrencies by market capitalisation.

The rally appears to have been driven by a large transaction linked to a newly created wallet.

Data from Lookonchain shows the wallet withdrew more than 25.5 million STO tokens, valued at over $4.85 million, from Binance.

The holdings represent approximately 11.32% of StakeStone’s circulating supply, suggesting concentrated accumulation that may have contributed to the sharp price movement.

The price of $STO surged from $0.11 to $0.26 today, a 136% increase.

A newly created wallet(0x5e2E) withdrew 25.5M $STO($4.85M) from #Binance in the past 20 hours, 11.32% of the circulating supply.https://t.co/UhTfZhT8CS pic.twitter.com/GAI5Y2L8LE

— Lookonchain (@lookonchain) April 1, 2026

The transfer acted as an immediate and powerful demand shock, with the size of the order absorbing available sell liquidity near the market price.

It forced quotes higher as market makers and sellers adjusted to the sudden imbalance between bids and offers.

With limited resting supply at higher levels, the price moved rapidly upward as each successive fill occurred at incrementally higher prices.

Data from CoinMarketCap shows a 560% increase in intraday volume, with over $190 million traded in the past 24 hours.

StakeStone’s market cap was also sharply up, as STO printed a new all-time high.

Prices hovered around $0.25 at the time of writing, up more than 390% since the all-time low of $0.049 on February 6, 2026.

STO price outlook — is a sharp decline next?

From a technical perspective, STO’s chart now reflects a near‑vertical candle following the 136% single‑day move.

Price currently hovers well above recent consolidation zones and historical trading ranges.

Such abrupt expansions in price and volume often leave the token looking temporarily extended.

In the market, this type of structure frequently precedes volatile retracements as the market digests the move and short‑term participants reassess risk and reward.

Given the magnitude and speed of the rally, a period of profit‑taking and a potential steep pullback cannot be ruled out.

A rapid unwind of intraday positions could see STO test lower levels, with $0.19 key.

If selling intensifies, the next major support zone could be $0.15-$0.11.

However, the reduced circulating supply could help support prices and allow for an extended, though volatile, ride to new highs.

Bitcoin (BTC) finally closed a month with positive price performance for the first time since September, but it only snapped its five-month losing streak by the slimmest of margins.

BTC opened the month at $67,000 and closed at $68,221. In other words, the entire “gain” amounted to about $1,200 per coin, or 1.8%.

For context, BTC often fluctuates by that amount within a few minutes on an average day.

Energized by even the most pitiful shred of evidence that the crypto bear market might be ending, the BTC community celebrated the momentum shift. 

The Fear and Greed Index hit an all-time low of five out of 100 on February 6, 2026. It’s now much higher, if you squint a bit less, at 31.

One less bad month for BTC

The streak that preceded March’s flicker of positivity was genuinely ugly.

BTC was worth more than $126,000 on October 6, 2025. By February 6, it had collapsed to $60,000.

Recent monthly losses have been relentless. Total crypto market capitalization fell by $200 billion in October, $610 billion in November, $110 billion in December, $300 billion in January, and $350 billion in February.

March paused that decimation with a $40 billion gain, the slimmest of margins.

Still, at least it’s not as bad as its absolute worst moment this year.

BTC is 14% higher than its $59,930 low set on February 6. It’s even rallied a bit since the onset of a typically bearish war and macro environment.

Something is shifting in the crypto casino market. Search volumes for terms like “Stake alternative,” “sites like Stake,” and “Stake.com replacement” have been climbing steadily throughout 2026. Stake.com remains one of the most visited crypto gambling platforms in the world, so the rising interest in alternatives is not about Stake failing — it is about players wanting more. More games, more bonuses, more ways to earn while they play. ZunaBet is one of the names that keeps appearing in those searches. Launched in 2026, it has quickly positioned itself as the kind of platform that players leaving or supplementing Stake are looking for. This article examines what is driving the trend and how the two platforms compare.

Stake.com: Where Things Stand

Stake.com has been a force in crypto gambling since 2017. Licensed in Curaçao, it grew rapidly by being one of the first platforms to build a serious gambling product entirely around cryptocurrency. Bitcoin, Ethereum, Litecoin, Dogecoin, and other major coins are all supported for deposits and withdrawals.

The platform made its name with a lineup of provably fair original games. Crash, Plinko, Dice, Mines, and similar titles became synonymous with the Stake brand and built a community of dedicated players. Third-party games from providers like Pragmatic Play, Evolution, and Hacksaw Gaming fill out the rest of the casino with slots and live dealer tables.

Stake also operates a full sportsbook covering football, basketball, tennis, MMA, esports, and other markets. The odds are competitive and the interface is clean, which keeps experienced bettors engaged.

For years, Stake has held a dominant position in the crypto gambling space. But dominance invites scrutiny, and players who have spent time on the platform are increasingly vocal about the areas where Stake falls short of their expectations.

Why Players Are Looking Elsewhere

The search interest in Stake alternatives does not come from nowhere. Several recurring themes show up in community discussions, forums, and social media conversations about why players are exploring other options.

The most frequently mentioned issue is the lack of a welcome bonus. Stake does not offer any deposit match, free spins, or sign-up promotion for new players. You deposit and you play with exactly what you put in. All rewards are funneled through an invite-only VIP program that activates based on sustained high-volume wagering. For players who do not wager at that level, Stake offers no additional value beyond the games themselves.

The VIP program itself generates mixed opinions. Players who have earned an invitation generally speak well of the rakeback and bonuses they receive. But the closed nature of the system frustrates everyone else. There are no published tiers, no public requirements, and no way to track your progress toward an invitation. For many players, it feels like a program that exists for someone else.

Game library size is another factor. Stake carries a solid selection, but newer platforms have launched with significantly larger catalogs, making Stake’s offering feel less comprehensive by comparison.

These gaps have created an opening in the market, and platforms like ZunaBet have stepped directly into it.

ZunaBet: What the Alternative Looks Like

ZunaBet launched in 2026 under Strathvale Group Ltd with an Anjouan gaming license. The team behind it has more than 20 years of combined online gambling experience. The platform was built from scratch as a crypto-native operation — cryptocurrency is not a payment add-on but the foundation of the entire system.

The game library immediately addresses one of the most common complaints about Stake. ZunaBet offers over 11,000 games from 63 providers, including Pragmatic Play, Hacksaw Gaming, Yggdrasil, BGaming, and Evolution. That covers slots, RNG table games, and live dealer experiences. With 60+ studios contributing content, the range of game styles, themes, and mechanics is among the widest in the crypto casino space. Players moving from Stake to ZunaBet are unlikely to feel like they are downsizing.

The sportsbook is fully integrated. Coverage includes football, basketball, tennis, NHL, combat sports, virtual sports, and esports markets for CS2, Dota 2, League of Legends, and Valorant. One account and one balance handle everything, so switching between casino and sports is seamless.

ZunaBet supports more than 20 cryptocurrencies: BTC, ETH, USDT across multiple blockchains, SOL, DOGE, ADA, XRP, and others. No platform processing fees are applied. Withdrawals are built for speed. Apps are available for iOS, Android, Windows, and MacOS, with live chat running 24/7.

The Bonus Gap

This is the single biggest reason players search for Stake alternatives, and it is where ZunaBet makes its strongest first impression.

Stake offers nothing when you sign up. No matched deposit. No free spins. No promotional credit. Your first session is funded entirely by your own money with zero cushion.

ZunaBet opens with a welcome package worth up to $5,000 plus 75 free spins across three deposits. First deposit: 100% match up to $2,000 with 25 free spins. Second deposit: 50% match up to $1,500 with 25 spins. Third deposit: 100% match up to $1,500 with 25 spins. The three-deposit structure keeps bonus value flowing across a player’s first several sessions rather than concentrating it all on day one.

For a player evaluating whether to try a new platform, this alone answers the question. ZunaBet gives you significantly more to work with from the start, which means more games explored, more bets placed, and more time on the platform before your own funds carry the full weight.

Loyalty: Closed System vs Open Progression

The loyalty comparison is the second major driver of the search trend.

Stake’s VIP program operates behind closed doors. Invitation is based on wagering volume, but the thresholds are not published. Players have no visibility into where they stand or how close they are to qualifying. Those who make it in report strong benefits — rakeback, recurring bonuses, and personal account management. Those who do not make it in see nothing. For a large portion of Stake’s user base, the VIP program might as well not exist.

ZunaBet takes the opposite approach with a dragon evolution loyalty system featuring six published tiers. Squire starts at 1% rakeback. Warden gives 2%. Champion gives 4%. Divine gives 5%. Knight gives 10%. Ultimate reaches 20%. Each tier also unlocks free spins scaling up to 1,000, VIP club membership, and double wheel spins. A dragon mascot named Zuno gives the program personality and makes the progression feel gamified rather than transactional.

Every element of ZunaBet’s loyalty program is visible from day one. Players see every tier, every reward, and every requirement the moment they create an account. There is no ambiguity and no closed doors. For players frustrated by Stake’s opaque VIP system, this transparency is exactly what they are looking for. The 20% rakeback ceiling at the Ultimate tier offers a return rate that matches or exceeds what many Stake VIP members report receiving, but without requiring an invitation to access.

The Broader Crypto Casino Shift

The surge in alternative searches is not just about Stake specifically. It reflects a broader maturation of the crypto gambling market. When Stake launched in 2017, the options were limited and any decent crypto casino attracted players almost by default. In 2026, the landscape is crowded with platforms competing aggressively on bonuses, game variety, coin support, and loyalty rewards.

Players have become more sophisticated in how they evaluate platforms. They compare wagering requirements, check rakeback percentages, count supported cryptocurrencies, and read the fine print on loyalty programs. The era of sticking with one platform out of habit or lack of alternatives is fading.

ZunaBet benefits directly from this shift. Supporting over 20 cryptocurrencies with no processing fees, offering a game library that dwarfs most competitors, and running a loyalty program with published tiers and up to 20% rakeback positions it as the kind of platform that informed players actively seek out. It was built for a market where players shop around, and it was designed to win that comparison.

Both Stake and ZunaBet sit firmly in the crypto camp, which already separates them from traditional fiat operators like DraftKings, BetMGM, FanDuel, and Caesars. Those platforms process payments through banks and cards with slower withdrawals and higher fees. For players whose finances already run on crypto, neither traditional platform is a natural fit. The real choice for crypto gamblers in 2026 is between established crypto platforms like Stake and newer ones like ZunaBet that are pushing the category forward.

What the Search Trend Signals

Rising search interest in Stake alternatives is not a sign that Stake is declining. It is a sign that the market has evolved past what any single platform established years ago can satisfy without adapting. Players want welcome bonuses. They want transparent loyalty programs. They want massive game libraries and broad crypto support. They want platforms that earn their loyalty rather than assume it.

ZunaBet checks every one of those boxes. A $5,000 welcome bonus with free spins. Over 11,000 games from 63 providers. More than 20 supported cryptocurrencies with zero fees. A six-tier loyalty program reaching 20% rakeback with full visibility. A complete sportsbook with esports. It is a platform built specifically for the player who typed “Stake alternative” into a search engine and wanted to find something better.

Stake wrote the early playbook for crypto casinos. ZunaBet is writing the updated version — with more generosity, more transparency, and more reasons to choose it over what came before. The search trends suggest that a growing number of players are ready for that next chapter, and ZunaBet is the platform best positioned to deliver it.

Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.

Quick Summary

• Stanley Druckenmiller continued accumulating Alphabet and Amazon shares for the second consecutive quarter
• His Alphabet holdings surged 277% while Amazon positions grew 69% during Q4
• The billionaire investor previously exited Nvidia and Palantir positions, rotating capital into these cloud giants
• Google Cloud delivered 48% year-over-year revenue growth while AWS reaccelerated to 24%
• Both companies currently trade at significant discounts compared to their historical cash flow valuations

Stanley Druckenmiller, who manages capital through Duquesne Family Office, expanded his holdings in Alphabet and Amazon during the final quarter of 2025. This marks consecutive quarters of accumulation for both technology giants.

According to his SEC 13F disclosure, Druckenmiller acquired 282,800 shares of Alphabet’s Class A stock alongside 300,870 Amazon shares. These purchases expanded his Alphabet stake by 277% and boosted his Amazon holdings by 69%.

Amazon.com, Inc., AMZN

The legendary investor earned his reputation delivering approximately 30% annualized returns between 1981 and 2010. Market participants and institutional money managers closely monitor his portfolio adjustments.

Druckenmiller previously maintained positions in Nvidia and Palantir but liquidated both holdings entirely. His capital has been redirected toward Alphabet and Amazon instead.

The strategic rationale behind both investments revolves around their dominant cloud computing platforms. Alphabet operates Google Cloud, which ranks as the third-largest cloud infrastructure provider globally. Amazon maintains AWS, the undisputed market leader.

Artificial Intelligence Fuels Cloud Platform Expansion

Google Cloud reported impressive 48% revenue expansion in the fourth quarter. AWS demonstrated renewed momentum with growth reaccelerating to 24% year-over-year.

Alphabet Inc., GOOGL

Both cloud platforms are integrating generative artificial intelligence capabilities and advanced language models. These innovations are attracting fresh enterprise clients while encouraging existing customers to expand their spending.

Alphabet maintains approximately 90% dominance in worldwide internet search through Google. Amazon operates the leading e-commerce platform throughout the United States.

These investments aren’t pure-play artificial intelligence bets. Both corporations generate substantial, diversified revenue streams beyond their cloud computing segments.

Stock Valuations Present Historic Opportunities

Alphabet currently trades at 14.3 times its forecasted 2027 cash flow. Amazon appears even more attractively priced at just 9.7 times projected cash flow for the same period.

When measured against their five-year historical averages, Alphabet trades at a 20% discount while Amazon shows a substantial 48% discount. Both stocks represent historically attractive entry points based on cash flow metrics.

PwC research projects that artificial intelligence will contribute over $15 trillion to worldwide economic output by 2030. Druckenmiller’s recent purchases indicate his conviction that Alphabet and Amazon will capture significant portions of this value creation.

His fourth quarter filing revealed a 29% reduction in Taiwan Semiconductor Manufacturing holdings. This adjustment signals a strategic pivot away from semiconductor manufacturers toward companies deploying AI applications.

The 13F filing documents holdings as of December 31, 2025, and was submitted before the February 17, 2026 regulatory deadline.

Key Highlights

• Alphabet’s President of Global Affairs and Chief Legal Officer, John Kent Walker, divested 9,093 Class C shares on March 27, generating approximately $2.48 million
• Transaction prices ranged between $273.91 and $278.30 per share
• Needham maintained its Buy rating on March 27 with a $400 price objective
• Wells Fargo increased its price objective to $397 from $387, maintaining an Overweight stance
• The company finalized its $32 billion purchase of Wiz, a cloud security provider, on March 11

John Kent Walker, serving as Alphabet’s President of Global Affairs and Chief Legal Officer, executed a sale of 9,093 Class C shares on March 27, 2026, netting approximately $2.48 million. The sale occurred through several transactions, with share prices spanning from $273.91 to $278.30.

Alphabet Inc., GOOGL

Additionally, on March 31, Walker completed a disposal and re-acquisition of 8,993 Class C shares through a transaction valued at $0 — a structure commonly linked to equity compensation plan activities.

The insider transaction hasn’t dampened investor enthusiasm, as the stock has posted an impressive 84% gain over the trailing twelve months.

Two prominent Wall Street analysts expressed optimistic views on GOOGL during the same timeframe.

Laura Martin from Needham reaffirmed her Buy recommendation on March 27, setting a $400 price objective. This target was initially elevated in February from $330, subsequent to Alphabet’s fourth-quarter earnings disclosure.

Wells Fargo similarly acted on March 27, elevating its price objective to $397 from the prior $387 while sustaining its Overweight designation.

Analyst Ken Gawrelski highlighted that GOOGL possesses “all the pieces necessary to be an AI winner,” citing its computational infrastructure, Google Cloud Platform, extensive distribution channels, and consumer data assets as critical competitive strengths.

Wiz Deal Reaches Completion

Alphabet successfully concluded its $32 billion acquisition of Wiz, the cloud and AI security solution provider, on March 11. Wiz will operate within Google Cloud while preserving its independent brand identity.

Wells Fargo anticipates the transaction will enhance Google Cloud’s platform revenue streams and operating profitability throughout fiscal years 2026 and 2027.

On the innovation front, Google has introduced enhancements to its Gemini AI assistant. Recent features enable users to transfer chat histories from competing AI applications — a strategic capability designed to attract users from alternatives like ChatGPT.

Gemini Enhancements and Developer Capabilities

Google unveiled the Gemini 3.1 Flash Live audio model, engineered for real-time conversational interactions with enhanced accuracy and reduced latency. The technology is currently accessible to developers and enterprise clients across various platforms.

Citizens has retained a Market Outperform rating on Alphabet, emphasizing expansion in AI-driven advertising solutions and cloud infrastructure.

Regarding legal developments, Evercore analysts highlighted a Delaware court decision that may affect insurance coverage disputes for companies including Alphabet. The decision is viewed as beneficial to insurance providers.

Based on InvestingPro analysis, the stock is presently trading marginally above its estimated Fair Value.