Blockonomi

TLDR:

NEAR Protocol currently trades at a 28x P/S ratio, far below Ethereum’s 194x and Solana’s 40x multiples.

The NEAR Intents fee buyback mechanism, live since February 2025, uses 100% of fees to buy NEAR directly.

Daily Intents volume must reach $177M for NEAR to turn net deflationary, versus the current $77M average.

A 40x P/S applied to projected fees of $150–180M annually puts NEAR’s price target between $4.65 and $5.60.

NEAR Protocol is drawing renewed attention from crypto analysts as its current price of $1.39 appears disconnected from its underlying fundamentals.

Crypto analyst Michaël van de Poppe recently outlined a detailed case for why the asset could reach $3–5 in the coming months.

The analysis covers token supply dynamics, staking rates, revenue generation, and the growing volume on NEAR Intents — a fee-buyback mechanism activated in February 2025.

Token Supply and Revenue Support a Repricing Case

NEAR Protocol has seen meaningful changes to its tokenomics following 2025 protocol updates. The network now issues approximately 32 million tokens annually at a 2.5% inflation rate.

That marks a 50% reduction from previous issuance levels. Combined with 99% of tokens already in circulation, there is minimal sell pressure from remaining unlocks.

Around 45.5% of the total supply is currently staked, further tightening available supply on the open market. On the revenue side, NEAR generates an estimated $50–60 million annually.

This figure is derived from the recent 90-day fee run rate. The base-layer gas fee model operates on a 70/30 split, where 70% of fees are permanently burned.

Van de Poppe noted in his post: “NEAR is about to break upwards to $3–4 and it fully deserves it. This is a prime example of an asset severely underpriced in current market conditions.”

$NEAR is about to break upwards to $3-4 and it fully deserves it.

This is a prime example of an asset that's severely underpriced in the current market conditions.

I don't see why it shouldn't go to $4-5 in the next months.

The key metrics:
– There's approx. 32 million tokens… pic.twitter.com/pGCptzsng0

— Michaël van de Poppe (@CryptoMichNL) April 13, 2026

Compared to Ethereum’s price-to-sales ratio of 194x and Solana’s 40x, NEAR currently trades at an Intents-adjusted P/S of just 28x. That gap points to a potential repricing as platform activity increases and volume metrics improve over time.

NEAR Intents Volume Drives the Deflationary Threshold Thesis

NEAR Intents forms the core of the protocol’s updated economic model. Launched in February 2025, it directs 100% of Intents fees toward direct NEAR token purchases. For the protocol to become net deflationary, daily Intents volume must reach approximately $177 million.

The current 90-day average sits at $77 million per day. That means volume needs to roughly double to cross the deflationary threshold.

Over the past 30 days, Intents recorded $2.1 billion in volume, which annualizes to approximately $25 billion. That trajectory has accelerated since the mechanism went live.

Van de Poppe applied a conservative 50–100% compound annual growth rate to project future performance. Under that model, daily volume could reach $100–150 million by end of 2026. By 2027, the figure could exceed $200–300 million, pushing NEAR firmly into net deflationary territory.

Applying a 40x P/S ratio to projected annual fees of $150–180 million places NEAR’s price target at $4.65–$5.60. At a higher growth scenario, the analyst sees a $7–10 valuation as achievable within 12 months, based strictly on current volume momentum and fee metrics.

The post NEAR Protocol Price Analysis: Why $1.39 Could Be a Launchpad Toward $5 and Beyond appeared first on Blockonomi.

TLDR

Lars Kooistra says XRP has shifted from accumulation to distribution on higher time frames.

XRP price trades near $1.32 and remains below a key supply zone.

Kooistra targets short positions near resistance with downside toward $1.10.

ChartNerd warns of a possible drop to $0.70 if resistance holds.

Other analysts remain divided, with some still forecasting new all-time highs.

XRP price trades near $1.32 as market analyst Lars Kooistra signals a structural shift toward distribution. He states that sellers may be regaining control after a brief upward phase. His latest update outlines potential short opportunities if resistance levels continue to hold.

XRP Price Structure Turns Bearish, Analyst Says

Kooistra reported that XRP previously followed a TCT accumulation model that lifted price levels. However, he said the structure has now shifted toward a higher time frame distribution phase. He explained that this change signals growing seller pressure and weaker upside momentum.

He stated, “The market has transitioned into distribution on a higher time frame.” He added that price compression often leads to a strong move, and he expects that move to be lower. Therefore, he now targets short positions near key supply zones with unfilled orders.

Earlier, on April 10, Kooistra observed an extended accumulation pattern. That move invalidated his earlier short position and forced him to close at breakeven. However, the structure later evolved, and he adjusted his outlook accordingly.

On April 7, he described a “go big or go home” short setup. He partially de-risked that trade after a 20% take-profit at the range low. He expected a deeper bearish move if support failed.

Key Resistance and Downside Targets in Focus

The XRP price currently trades below a supply zone in the mid-$1.30 range. Price briefly moved above $1.40 last week but failed to hold gains. It now hovers around $1.33 while facing resistance pressure.

$XRP [update V3]

The #TCT accumulation schematic that caused price to reverse back up, stopping the initial short at BE, now transitioned back into a higher TF distribution schematic.

HTF context (compression), remains the same and I will be looking for shorts on the… https://t.co/a6ARvp44YS pic.twitter.com/t5rl86zQwV

— The Composite Trader (@Larskooistra_) April 12, 2026

Kooistra’s chart outlines a possible short-term bounce or consolidation phase. However, he projects a sharp decline if resistance levels remain intact. His downside targets extend toward the $1.20 and $1.10 regions on higher time frames.

He warned that XRP price may not revisit higher supply zones. He said the market could already be deep in distribution. Therefore, traders waiting for higher entries may not get another opportunity.

Other analysts also shared bearish projections. ChartNerd stated that XRP could fall toward $0.70 if it fails to break $1.80 and $2.00 resistance. He maintained this outlook while acknowledging that a breakout would invalidate his scenario.

Casi Trades echoed a similar stance on recent price action. She stated that the rebound has ended and warned of a possible drop toward $0.85. Meanwhile, Dark Defender and Javon Marks continue to predict a new all-time high cycle.

At press time, XRP price is near $1.32 with losses across daily, weekly, and monthly charts. Market participants now monitor whether resistance holds or price regains upward strength.

The post XRP Price Faces Bearish Structure as Trader Eyes Supply Zones appeared first on Blockonomi.

TLDR

Fellowship reported a $300,000 advertising expense for a Georgia congressional race.

The PAC endorsed Republican candidates in five states through posts on X.

Fellowship claims over $100 million from crypto-aligned backers.

Jesse Spiro of Tether chairs the super PAC.

The Senate Banking Committee has not scheduled a markup for the CLARITY Act.

Fellowship, a crypto-aligned super PAC, has started reporting spending and endorsements ahead of the 2026 US midterms. The group disclosed a $300,000 advertising expense and named several Republican candidates across five states. Its actions follow a filing with the Federal Election Commission and public posts on X.

Fellowship Reports $300,000 Ad Spend and Backs GOP Candidates

Fellowship reported spending $300,000 on advertising for Clay Fuller in Georgia’s 14th Congressional District. The filing showed the disbursement occurred on Tuesday, about a month before the May 19 Republican primary. Fuller won a special election to replace Marjorie Taylor Greene after her resignation. The Federal Election Commission requires super PACs to disclose independent expenditures. The agency states that super PACs may “receive unlimited contributions from individuals, corporations, labor unions and other PACs.”

The group also posted endorsements on X for Republican candidates in five states. It backed Alan Wilson for South Carolina governor and Blake Miguez for Louisiana’s 5th Congressional District. It supported Mike Collins for the US Senate in Georgia and Julia Letlow for the US Senate in Louisiana. It also endorsed Pete Ricketts for the US Senate in Nebraska and Nate Morris for the US Senate in Kentucky. These announcements marked the PAC’s first public endorsements since its 2025 statement of organization.

Crypto Funding Expands Political Activity Before 2026 Midterms

Fellowship announced its launch in September and claimed more than $100 million in funding. The group said undisclosed backers aligned with the crypto industry provided the funds. On April 1, it named Jesse Spiro, head of government affairs at Tether, as chair. The announcement signaled support for candidates with pro-crypto positions. However, the PAC has reported only one expenditure so far.

Crypto-backed political committees increased activity during recent election cycles. In 2024, Fairshake spent over $130 million on media buys in congressional races. Public records show the spending targeted competitive contests, including the US Senate race in Ohio. Federal filings indicate that super PACs operate independently from candidates and campaigns. They may raise and spend unlimited sums on independent political activity under federal rules.

Lawmakers continue to debate federal crypto legislation as PAC activity grows. The US House of Representatives passed the CLARITY Act in July. However, the Senate has delayed action on the bill and has not scheduled a floor vote. Reports indicated that the Senate Banking Committee planned a markup, yet the event did not appear on its calendar. The bill would address regulations affecting crypto markets and banking sectors.

The CLARITY Act has faced questions related to ethics standards and stablecoin yield provisions. Lawmakers have also raised issues concerning tokenized equities and other regulatory details. The Senate Banking Committee must review the bill before any full Senate vote. As of Monday, the committee had not confirmed a markup date.

The post Fellowship PAC Begins Backing GOP Ahead of 2026 Vote appeared first on Blockonomi.

TLDR:

North Korea stole $2.02 billion in crypto in 2025—up 51%—using deception, not code exploits.

A fake Ledger Live app passed Apple’s review and drained $424,000 in Bitcoin from one user.

Kraken insiders were recruited via darknet ads for as little as $3,000 to compromise client accounts.

Cryptographic systems remain unbroken, but human access points are now the cheapest attack vector in crypto.

Human error, not code vulnerabilities, drove three major crypto security breaches within thirteen days in April 2025. The incidents collectively resulted in hundreds of millions of dollars in losses.

Each case involved manipulation of people rather than exploitation of blockchain systems. Analysts say the pattern reveals a structural weakness the industry has yet to address.

The binding constraint in digital asset security is no longer cryptographic—it is human.

North Korean Operatives Target Crypto Firms Through Social Engineering

A six-month infiltration campaign led to Drift losing $285 million on April 1, 2025. Attackers posed as business partners, held in-person meetings across multiple countries, and deposited $1 million to build credibility.

Investigators attributed the operation with medium confidence to UNC4736, a North Korean state-sponsored group.

The same group is linked to the $1.5 billion Bybit hack in February 2025. Chainalysis reported North Korea stole $2.02 billion in crypto in 2025 alone.

That figure represents a 51% year-over-year increase, achieved through 74% fewer attacks. The efficiency gain came from more refined deception, not improved technical tools.

As researcher Shanaka Anslem Perera noted, North Korea stopped trying to break cryptographic math in 2023. Instead, they began recruiting the people who sit next to it.

Three crypto security failures in thirteen days. All human. None technical. No one is connecting them.

April 1: Drift loses $285 million. Not a smart contract exploit. A six-month North Korean social engineering campaign. Fake identities, in-person meetings across multiple… https://t.co/rv8dqtxDqo pic.twitter.com/DtIeVTrP0i

— Shanaka Anslem Perera (@shanaka86) April 13, 2026

CrowdStrike documented 304 individual North Korean infiltration incidents in 2024. The campaigns are still accelerating into 2025.

Kraken caught a North Korean operative applying for an internal job in May 2025. The company deliberately allowed the interview to continue in order to study the tactics being used. That decision provided rare intelligence into how these operations are structured from the inside.

Fake Wallet App Drains Musician’s Decade of Bitcoin Savings

On April 11, musician G. Love—legally Garrett Dutton—purchased a new MacBook Neo and searched for Ledger Live on Apple’s App Store.

He downloaded a clone that had passed both automated scans and manual review. A fake error screen prompted him to enter his 24-word seed phrase.

Within minutes, 5.92 Bitcoin—worth approximately $424,000—was gone. ZachXBT traced nine transactions to KuCoin deposit addresses.

KuCoin had lost its EU MiCA license in February 2025, raising further concerns about oversight gaps in the sector.

The app bypassed multiple layers of platform security without exploiting any technical flaw. It relied entirely on a convincing interface and a user placed under artificial pressure. The seed phrase, once entered, gave attackers complete and irreversible access.

This type of attack requires no sophisticated code. It requires only a believable replica and one moment of user trust. The Apple App Store review process, widely regarded as rigorous, was not sufficient to catch it.

Darknet Ads Recruit Exchange Insiders for Thousands of Dollars

On April 13, Kraken’s Chief Security Officer disclosed that two support staff members had been recruited by a criminal group. Roughly 2,000 client accounts were accessed, representing 0.02% of total users. No funds were stolen, and no system was technically breached.

The criminals recorded videos of internal support panels. They are now using that footage for extortion. Kraken refused to pay. The access was not obtained through a zero-day exploit—it was obtained through a darknet job listing.

Checkpoint Research and ZeroFox documented the going rate for such access in late 2025. Credentials or panel access at Coinbase, Binance, Kraken, or Gemini were available for $3,000 to $15,000, paid in crypto. That price point is lower than one month’s rent in San Francisco.

The crypto industry has spent fifteen years and hundreds of billions building technically sound infrastructure. SHA-256 remains unbroken.

Elliptic curve signatures remain intact. Yet within thirteen days, human access points bypassed all of it. The more the industry hardens its technical systems, the cheaper the human bypass becomes by comparison.

The post Crypto Security Failures Expose Human Vulnerabilities Over Technical Flaws appeared first on Blockonomi.

TLDR

William Blair said COIN shares fell about 26% from March highs.

Analysts expect Street estimates for Coinbase to move lower.

The firm cited growing USDC market share versus Tether’s USDT.

Coinbase will report first-quarter 2026 earnings on May 7.

William Blair maintained a constructive outlook on both Coinbase and Circle.

Coinbase (COIN ) shares appear de-risked after a steep first-quarter pullback, according to William Blair analysts. The firm cited expanding USDC adoption and a reset in expectations. Analysts said the outlook supports both Coinbase and Circle ahead of May 7 earnings.

COIN Shares Reset After 26% Pullback

William Blair said COIN shares fell about 26% from March highs. The decline erased gains from an earlier first-quarter rebound and reset expectations. Analysts Andrew Jeffrey and Adib Choudhury said weaker volumes are already reflected in pricing.

They wrote that trading volumes and transaction revenue trailed estimates for much of the year. They expect Street forecasts to move lower, yet they said investors should not be surprised. They added that soft first-quarter results likely will not shift sentiment before earnings.

Coinbase plans to report first-quarter 2026 results on May 7. The analysts said current valuation levels account for recent operating trends. They described the stock as offering “asymmetric upside” if crypto markets recover.

USDC Expansion Supports Coinbase and Circle

William Blair highlighted rising USDC adoption as a core driver for Coinbase. The analysts said USDC continues to gain share from Tether’s USDT. They added that newer entrants such as PayPal and World Liberty Financial hold smaller positions.

The note described Coinbase as a “call option” on further USDC commercialization. The analysts said growing usage benefits both Coinbase and Circle. They pointed to higher transaction activity and payments use cases supporting Circle’s revenue capture.

The firm also cited Coinbase’s broader product expansion. The exchange now offers derivatives, staking, equities trading, and prediction markets. Analysts said the “everything exchange” model strengthens competitive positioning.

They rejected projections of a prolonged crypto downturn over the next two years. They called that scenario a “low-probability outcome” in their note. They maintained a constructive stance on Circle as stablecoin activity increases.

Coinbase has reported softer trading metrics during the recent quarter. However, William Blair said the stock already reflects those pressures. The analysts reiterated their view ahead of the company’s earnings release on May 7.

The post COIN Shares Fall 26% but Analysts See Reset Expectations appeared first on Blockonomi.

TLDR

SEC staff issued conditional guidance for crypto trading apps on April 13.

Platforms must act as neutral tools and avoid executing or advising on trades.

The framework requires clear fee structures and conflict disclosures.

The staff position will expire in five years unless replaced.

The SEC is advancing the proposed Reg Crypto framework under federal review.

U.S. Securities and Exchange Commission (SEC) has outlined conditions that allow certain crypto trading apps to operate without broker registration. The agency’s Division of Trading and Markets issued a staff statement on April 13. The guidance defines when platforms may function as neutral tools instead of regulated intermediaries.

SEC Defines Limits for Crypto Trading Apps Under Broker Rules

The SEC staff said “Covered User Interface Providers” may avoid broker-dealer registration if they act as neutral interfaces. They must not recommend trades or provide investment advice. They must not promote specific tokens or trading routes. Instead, they must rely on objective criteria such as price or speed when displaying options.

The staff also barred providers from executing trades or handling customer assets. They cannot negotiate transactions or structure deals on behalf of users. The statement said such activities would trigger broker status under federal securities law. Therefore, platforms must restrict their role to displaying information and routing user instructions.

The guidance requires consistent and transparent fees across assets and execution paths. Providers cannot adjust fees based on selected tokens or venues. If a platform maintains ties to a trading venue, it must disclose that relationship clearly. It must also treat affiliated and non-affiliated venues in a fair manner.

The staff imposed strict disclosure standards on covered providers. Platforms must disclose their non-registered status and explain how their systems function. They must outline fee models, conflicts of interest, and cybersecurity controls. They must also describe technical limits and risks tied to the interface.

The statement clarified that it reflects staff enforcement views, not binding law. However, it signals how the SEC may approach enforcement during the next five years. The framework will sunset after five years unless the agency replaces it. Until then, firms may rely on this conditional no-action position.

SEC Advances Reg Crypto Proposal for Token Offerings

The SEC is also advancing a broader “Reg Crypto” framework under Chair Paul Atkins. The proposal is currently under review by the Office of Information and Regulatory Affairs. It seeks to update rules governing token fundraising and decentralized finance activities.

Under the draft plan, early-stage crypto startups may receive limited exemptions. The framework would allow structured token offerings under the Securities Act of 1933. It would also create a safe harbor pathway for tokens that transition out of securities status. The SEC aims to clarify when digital assets no longer qualify as securities.

The proposal also calls for coordination with the Commodity Futures Trading Commission. The SEC plans to align oversight standards across agencies. The agency seeks to streamline compliance for token issuers and trading platforms. Officials have not yet released a final timeline for adoption.

Chair Atkins has stated that the agency wants clearer boundaries for digital asset markets. The SEC continues to review public input on the Reg Crypto framework. The proposal remains under federal review as of April 13. Further updates will follow once OIRA completes its assessment.

The post SEC Issues Framework for Crypto Trading Apps and Brokers appeared first on Blockonomi.

TLDR

Bitcoin Futures Open Interest 7-day change dropped to approximately -3% by April 13.

The metric crossed into negative territory on April 12, signaling deleveraging.

The 7-day SMA funding rate shifted from 0.33% to -0.17%.

U.S. spot Bitcoin ETFs recorded over $816 million in weekly inflows.

Strategy Inc. purchased 13,927 BTC, raising holdings to 780,897 BTC.

Bitcoin derivatives traders reduced exposure over the past two weeks as open interest declined across major exchanges. Data from CryptoQuant shows a 7-day change of -3%, which signals faster position closures than new entries. At the same time, funding rates turned negative while spot demand strengthened through ETF inflows and corporate purchases.

Bitcoin Futures Open Interest Turns Negative

CryptoQuant data shows the Bitcoin Futures Open Interest 7-day change fell to about -3% by April 13. This reading means traders closed positions or faced liquidations faster than new contracts opened.

The metric crossed from positive to negative on April 12, which marked an early deleveraging shift. As a result, aggregate open interest across major exchanges moved lower within one week.

CryptoQuant tracks futures activity across Binance, Bybit, and OKX. The data reflects total outstanding contracts rather than daily trading volume.

A falling open interest often reflects reduced leverage in the market. Therefore, traders either cut risk exposure or lose positions through liquidations.

Funding Rates Flip as Spot Demand Grows

The Bitcoin 7-day Simple Moving Average funding rate shifted from 0.33% to -0.17%. This change shows shorts now pay longs, which indicates a net short market structure.

CryptoQuant analyst Axel Adler addressed the divergence between spot and derivatives markets. He said, “As long as the spot price holds above $70,000, the divergence between a resilient spot and a bearish derivatives structure keeps the short squeeze potential intact.”

At the same time, U.S. spot Bitcoin ETFs reported net inflows exceeding $816 million last week. BlackRock’s IBIT led those inflows, according to public ETF data.

Strategy Inc. (MSTR) also expanded its Bitcoin holdings during the same period. The company acquired 13,927 BTC for over $1 billion, raising total holdings to 780,897 BTC.

CoinShares reported that digital asset investment products recorded $1.1 billion in net inflows last week. Bitcoin products accounted for about $871 million of that total.

These inflows increased spot demand while futures traders reduced leverage. Consequently, the market showed opposing trends between derivatives positioning and spot accumulation.

Adler stated that a sustained price above $70,000 keeps short-squeeze conditions active. However, he added that weakening institutional demand could pressure prices below that level.

The futures deleveraging continued through April 13, based on the latest CryptoQuant readings. Open interest remained lower while funding rates stayed in negative territory.

Bitcoin traded near the $70,000 level during the reporting period. Market data showed continued monitoring of both ETF flows and derivatives positioning as of April 13.

The post Bitcoin Futures See Leverage Flush as Funding Turns Negative appeared first on Blockonomi.

TLDR

Capital B purchased 37 BTC for $2.3 million at $60,892 per coin.

The company now holds 2,925 BTC at an average cost of $92,096.

Year-to-date BTC Yield stands at 1.25% with a 35.3 BTC Gain.

Capital B issued 36,613,919 shares through OCA B-01 bond conversions.

Fully diluted share capital now represents 730 satoshis per share.

Capital B expanded its Bitcoin treasury after converting debt and raising new equity capital. The company increased holdings to 2,925 BTC and reported updated treasury metrics. It also issued new shares following bond conversions and warrant exercises.

Capital B Lifts Bitcoin Holdings to 2,925 BTC

Capital B confirmed the purchase of 37 BTC for $2.3 million at $60,892 per coin. As a result, the company now holds 2,925 BTC acquired for $269.4 million. The average acquisition cost stands at $92,096 per bitcoin.

The company reported a year-to-date BTC Yield of 1.25% as of 2026. It posted a BTC Gain of 35.3 BTC and a BTC € Gain of $2.2 million. Quarter-to-date, BTC Yield reached 0.53%, with a 15.2 BTC Gain and 0.9 million euro gain.

Capital B stated that it calculates these indicators for transparency and tracking. The company said it will continue publishing BTC Yield and related metrics. It described these figures as supplemental indicators for equity-based bitcoin accumulation.

The group also disclosed that it holds 60 BTC for operational needs. It segregates these coins from the reserve supporting Bitcoin Treasury KPIs. Therefore, treasury metrics exclude those operational holdings.

Capital B Completes Debt Conversions and Share Issuances

Capital B completed conversions of its OCA B-01 convertible bonds into ordinary shares. Blockstream Capital Partners converted 17,897,600 bonds into 32,900,000 shares at $0.544 per share. UTXO Management converted 2,020,372 bonds into 3,713,919 shares under the same terms.

In total, the company issued 36,613,919 new shares through debt set-off. Both investors also exercised rights linked to BSA 2025-01 warrants granted in 2025. These adjustments followed legal provisions tied to earlier financing agreements.

Blockstream subscribed to 4,700,000 new shares at $0.544 per share for $2.56 million. UTXO Management subscribed to 530,559 shares for $0.29 million. Together, these subscriptions raised $2.85 million in fresh cash.

The company also reported the exercise of 4,464,712 BSA 2025-01 warrants. These warrants converted into 637,816 shares for $0.35 million. The remaining warrants expired worthless at midnight on April 10, 2026.

In March, Capital B announced a $3 million capital raise. The funding received backing from TOBAM and UTXO Management. The company amended existing convertible bonds to accelerate its Bitcoin treasury strategy.

Capital B stated that this funding could support the purchase of about 36 additional Bitcoin. It projected total holdings could reach around 2,880 BTC under that plan. After recent purchases, total holdings stand at 2,925 BTC.

Following these transactions, the issued share capital reached 272,210,021 shares. The fully diluted share base stands at 397,622,899 shares. On this basis, Capital B reports 730 satoshis per fully diluted share.

The post Capital B Expands Bitcoin Treasury to 2,925 BTC appeared first on Blockonomi.

TLDR

The American Bankers Association disputed the White House analysis on stablecoin risks.

Bankers said policymakers must study a market where stablecoin yield remains allowed.

Lawmakers drafted a compromise to restrict yield-like rewards on stablecoins.

The Senate Banking Committee has not scheduled a hearing on the bill.

Senator Cynthia Lummis called for urgent action to advance the legislation.

U.S. banking leaders have challenged a White House report that downplayed risks from stablecoins. They argue that stablecoin yield could draw deposits away from traditional banks. The dispute has stalled the Digital Asset Market Clarity Act in the Senate.

Bankers Dispute White House Findings on Stablecoin Yield

The American Bankers Association rejected a recent Council of Economic Advisers report. The group said the report examined the wrong policy scenario. It argued that economists should have studied a market where stablecoin yield remains permitted.

ABA economists wrote, “The CEA paper minimizes the core risk by starting from the wrong question.” They said a ban on yield for payment stablecoins would protect insured deposits. They also said such a rule would support stablecoins as payment tools rather than deposit substitutes.

Bankers warned that allowing yield could speed deposit migration. They said returns from stablecoins may exceed bank interest rates. They argued that customers would move funds to chase higher rewards.

The ABA estimated that stablecoin markets could grow from $300 billion to $2 trillion. It said yield would act as the main driver of that expansion. It added that growth at that scale would reshape deposit flows.

Senate Negotiations Stall Over Crypto Bill

Lawmakers have struggled to advance the Digital Asset Market Clarity Act. The bill seeks to set rules for U.S. crypto markets. However, disagreements over stablecoin yield have delayed committee action.

Senators from both parties considered bankers’ concerns about deposit flight. They discussed how depositors fund lending activities. They then drafted a compromise to limit certain reward structures.

The compromise would ban yield on holdings that resemble deposit accounts. It would allow activity-based rewards similar to credit card programs. Still, banks have not publicly endorsed the proposal.

Senator Cynthia Lummis urged action on the social media platform X. She wrote, “America needs Clarity.” She also said the time to move the bill forward is “now or never.”

America needs Clarity.

— Senator Cynthia Lummis (@SenLummis) April 13, 2026

The Senate Banking Committee has not scheduled a hearing. Lawmaker advocates had expected a session before the month’s end. As of this week, no official date appears on the calendar.

Bank representatives have kept a lower public profile. However, they continue to circulate policy papers and letters. They argue that early safeguards would limit systemic shifts.

The White House economists had said banks face limited risk. They examined a scenario where Congress bans yield. Bankers countered that lawmakers must assess a no-ban environment.

The post Senate Bill Faces Delay Over Stablecoin Yield Debate appeared first on Blockonomi.

TLDR

Patrick Witt attended the Solana Summit in New York on April 13, 2026.

Witt said he would discuss crypto regulation and legislation in Washington during the event.

The CLARITY Act has passed the House and now moves toward the Senate Banking Committee review.

Stablecoin yield rules remain the central issue in the current negotiations.

Witt said he was “very confident” that negotiators had reached a workable compromise.

Patrick Witt, a White House digital assets advisor, attended the Solana Summit in New York on April 13. He signaled a policy update before a panel on crypto regulation in Washington. His appearance came as the CLARITY Act moved toward a Senate Banking Committee markup this month.

Crypto Legislation Focus Sharpens at New York Summit

Witt said on X that he was “excited” to join @millercwl at the Solana Summit. He said they would discuss crypto regulation and legislation in Washington.

Excited to join @millercwl tomorrow at the Solana Summit to discuss the latest on crypto regulation/legislation in DC. @SolanaInstitute https://t.co/3PKkwCJAJB

— Patrick Witt (@patrickjwitt) April 12, 2026

The Solana Policy Institute hosted the event in New York City on April 13. The program gathered policy, finance, and blockchain executives for discussions.

Organizers listed crypto regulation, Web3 policy, DeFi adoption, and institutional blockchain use among the main topics. They also focused on how decentralized networks fit into modern finance.

Other speakers included SkyBridge Capital founder Anthony Scaramucci and Solana Foundation President Lily Liu. Representatives from Grayscale, Citibank, Fidelity, and Bitwise also joined the summit.

Witt’s attendance placed White House policy voices at the center of the event. That timing matched the latest stage of federal digital asset legislation.

CLARITY Act Heads Toward Senate Review

The CLARITY Act would define digital commodities and investment contract assets in federal law. It would also divide oversight duties between the SEC and the CFTC.

The bill passed the House and now nears Senate review. The Senate Banking Committee is targeting a markup in late April 2026.

Lawmakers and industry groups have delayed the bill several times during negotiations. The main dispute centers on whether stablecoins should offer yield.

Coinbase chief executive Brian Armstrong has argued that yield is needed for fair competition. He also said Americans should have a chance to earn more on their money.

Banks, including Morgan Stanley and Standard Chartered, have raised the opposite concern. They warn that yield-bearing stablecoins could move trillions from bank deposits.

Witt addressed the issue during a “Crypto in America” podcast episode. He said senators were still weighing views before the committee markup.

He also said he was “very confident” that negotiators had reached a compromise. He added that neither side appeared satisfied.

Witt cited Senator Olsen Brooks when describing the talks. He said both sides could dislike the result, yet still accept it.

He then said, “We don’t love this…but we can live with it.” Witt said negotiations had reached that point.

The post Patrick Witt brings CLARITY Act update to Solana Summit panel appeared first on Blockonomi.

TLDR

The SEC said wallet-based crypto trading interfaces may avoid broker registration.

Developers must not solicit or recommend specific crypto asset securities transactions.

Platforms that handle assets or execute trades will face broker oversight.

The guidance serves as an interim measure while formal rules are drafted.

The SEC said broader crypto regulatory proposals are nearing the proposal stage.

The U.S. Securities and Exchange Commission (SEC) said software that enables crypto securities trades through personal wallets does not require broker registration. The agency issued fresh staff guidance to outline conditions for exemption. Officials described the statement as an interim step while broader crypto asset securities rules advance.

SEC Clarifies Limits for Crypto Wallet Interfaces

The SEC staff said websites or applications that connect users to blockchain networks can avoid broker classification. However, developers must ensure the software does not solicit specific crypto asset securities transactions. The agency stated that the interface must not recommend investments or guide users toward certain trades.

The staff also said the software must avoid handling user funds or assets. If a platform executes trades or takes orders, it falls within broker-dealer oversight. The statement added that offering financing or execution commentary would trigger regulatory requirements.

Agency Outlines Checklist While Broader Rules Advance

The SEC released a checklist to help developers structure compliant systems. The document said the interface must not provide advice on execution routes displayed to users. It also said the software cannot engage in transaction-based compensation tied to trades.

“The staff is providing its views as an interim step,” the document stated. It added that the commission continues to review regulatory issues tied to crypto asset securities. Officials said they are evaluating public feedback as they draft permanent rules.

The agency issued the guidance under President Donald Trump’s administration. Trump has directed executive agencies to support clearer crypto regulation. In response, SEC leadership shifted its tone and began issuing pro-crypto statements.

Before Chairman Paul Atkins assumed office, staff statements began redefining certain digital assets. Regulators said some assets would not qualify as securities under federal law. They also clarified that software development alone would not trigger broker oversight.

However, these staff statements do not carry the authority of formal rules. The SEC continues to draft comprehensive proposals covering crypto markets. Atkins said wide-ranging SEC rules are nearing the proposal stage.

Meanwhile, the U.S. Senate continues work on the Clarity Act. Lawmakers aim to establish statutory definitions for digital assets and oversight boundaries. The SEC said it will continue interim guidance until formal rules take effect.

The agency emphasized that the exemption applies only to limited functions. Interfaces that combine trading features with asset custody will face oversight. The SEC plans to provide updates as rulemaking progresses.

The post SEC Exempts Certain Crypto Wallet Interfaces From Broker Rules appeared first on Blockonomi.

Key Highlights

Amazon Autos has broadened its vehicle selection to include Kia, Mazda, Subaru, Chevrolet, and Jeep — a significant expansion from the initial Hyundai-exclusive rollout in late 2024.

The service has reached over 130 metropolitan areas nationwide, spanning major hubs like Los Angeles, Dallas, and New York.

Rather than bypassing traditional dealers, Amazon collaborates with local franchises — dealerships upload inventory, establish transparent pricing, and manage final transactions.

The U.S. new vehicle market represents $1.3 trillion in annual sales, while automotive manufacturers are expected to allocate more than $30 billion toward advertising in 2025.

Analysts maintain a Strong Buy rating on AMZN stock, with the consensus price target reaching $284.20 per share, suggesting approximately 19.5% potential appreciation.

When Amazon launched its vehicle sales platform in late 2024, it featured just a single automaker. Today, the initiative has evolved into a comprehensive automotive marketplace.

Over the past 18 months, Amazon Autos has welcomed Kia, Mazda, Subaru, Chevrolet, and Jeep into its digital showroom. This represents substantial growth beyond the platform’s Hyundai-only debut. The program now operates in more than 130 American cities.

Amazon $AMZN has expanded its car sales business to include cars from brands like Chevy, Jeep, Kia, Mazda, and Subaru – WSJ pic.twitter.com/Yqd4hl2NG6

— Evan (@StockMKTNewz) April 13, 2026

The purchasing process follows a streamlined model. Shoppers explore new vehicles through Amazon’s interface, arrange financing digitally, and complete the majority of documentation remotely. Final vehicle collection occurs at participating dealerships. Dealers cover listing costs while customers face no additional platform fees.

According to Amazon, hundreds of dealerships have joined the program to date. Fan Jin, director of Amazon Autos, stated, “While still early days, we are seeing a strong response from customers and dealers.”

Targeting a $1.3 Trillion Industry

American new vehicle sales totaled approximately $1.3 trillion last year, according to National Automobile Dealers Association data. This sector remains among the final substantial retail segments yet to transition meaningfully into digital commerce.

Amazon aims to serve as that digital connector. The marketplace employs transparent, fixed-price models — a sharp contrast to conventional dealership haggling that research shows most consumers actively dislike. Industry polling revealed buyers would prefer dental procedures over traditional car price negotiations.

However, initial performance metrics show variation. South Bay Hyundai in California, an early adopter, initially moved roughly 10 vehicles monthly via Amazon. That figure has since declined to approximately five per month. The dealership’s general sales manager pointed to challenges including paperwork errors and inventory management conflicts with in-person customers.

Meanwhile, a Glendale, California Kia franchise recorded a single sale — a $55,000 Kia Carnival — during its first six weeks. The dealer anticipates improvement but recognizes the platform’s nascent stage.

Unlocking Advertising Revenue

Beyond direct vehicle transactions, automotive sales could unlock substantially larger revenue opportunities for Amazon through advertising channels.

Automotive manufacturers are forecasted to invest upward of $30 billion in advertising throughout 2025. Amazon’s advertising division already ranks among its fastest-expanding business units. By attracting automotive brands to its ecosystem, Amazon positions itself to capture significant portions of that marketing expenditure.

Sky Canaves, retail analyst at Emarketer, observed: “Amazon is making a big push for advertisers who don’t typically advertise on Amazon.”

Expanding to manufacturers including Chevrolet (General Motors) and Jeep (Stellantis) places Amazon in direct rivalry with established automotive listing platforms. The move also targets Prime subscribers already accustomed to Amazon’s purchasing experience.

AMZN stock traded up just 0.05% following the expansion announcement. Wall Street maintains a Strong Buy consensus rating based on 43 Buy recommendations and three Hold ratings issued over the recent three-month period. The average analyst price target stands at $284.20 per share.

The post Amazon (AMZN) Stock: E-Commerce Giant Revs Up Vehicle Sales Nationwide appeared first on Blockonomi.

Key Takeaways

On April 13, 2026, Texas Attorney General Ken Paxton initiated a civil investigation targeting Lululemon

The probe centers on potential PFAS contamination in the company’s products

Shares of LULU declined more than 3% following the announcement

Investigators will examine the company’s Restricted Substances List, testing procedures, and sourcing practices

This legal challenge compounds existing difficulties, including weakening revenue and leadership changes

On Monday, Texas Attorney General Ken Paxton delivered a Civil Investigative Demand to Lululemon, causing shares to plummet more than 3%.

The inquiry will scrutinize whether the athletic apparel retailer has deceived customers regarding the health and safety characteristics of its merchandise.

Central to the investigation is the question of whether Lululemon’s garments contain PFAS — commonly referred to as “forever chemicals” — which would contradict the company’s marketing messaging.

Lululemon fell in New York trading Monday after the Texas attorney general said his office is investigating for the presence of so-called “forever chemicals,” which have been linked to health problems, in the yogawear brand’s apparel https://t.co/NaijH4MOmw

— Bloomberg (@business) April 13, 2026

PFAS compounds have been associated with hormonal imbalances, reproductive issues, and various cancers.

“Consumers deserve transparency when making health-conscious decisions for their families,” Paxton stated in his public remarks. “No company will be permitted to market dangerous, chemical-laden products at inflated prices while falsely claiming wellness and environmental responsibility.”

This statement strikes at the heart of Lululemon’s business model. The brand has consistently positioned itself as a champion of wellness and environmental stewardship, making this investigation particularly damaging to its public image.

Scope of the Investigation

Texas officials intend to examine Lululemon’s proprietary Restricted Substances List, quality control testing methods, and vendor management systems.

Investigators aim to verify whether the company’s products genuinely meet the safety benchmarks it publicly promotes.

In fiscal 2025, Lululemon reported revenues exceeding $11 billion, positioning itself as a premium wellness-focused lifestyle label.

Mounting Challenges for LULU

This regulatory action arrives during a particularly turbulent period for the athletic wear company.

Lululemon has experienced softening sales figures and diminishing share value as 2026 unfolds.

The organization is simultaneously navigating a CEO succession and confronting demands from activist shareholders.

Additionally, Chip Wilson, the company’s founder, has been vocally advocating for board restructuring.

The Texas investigation represents yet another obstacle in an increasingly complicated landscape.

According to consensus data from 20 Wall Street analysts surveyed over the past three months, LULU carries a Hold rating. The breakdown includes one Buy recommendation alongside 19 Hold ratings.

The mean price target stands at $179.53, suggesting potential upside of approximately 11.5% from present trading levels.

The post Lululemon (LULU) Under Texas Investigation Over PFAS ‘Forever Chemicals’ in Products appeared first on Blockonomi.

TLDR

Kraken identified and contained two insider-related access incidents involving limited client data.

The company confirmed that no systems were breached and no client funds were at risk.

About 2,000 accounts were potentially viewed, representing only 0.02% of users.

Kraken rejected extortion demands and is cooperating with law enforcement authorities.

Galaxy Digital reported a separate cybersecurity incident with no impact on client data or funds.

Kraken confirmed an extortion attempt involving internal access claims, while it denied any system breach or fund risk. The company said it contained two insider-related incidents and limited data exposure. It also stated that affected accounts represented about 0.02% of its global user base.

Kraken Rejects Extortion Attempt and Secures Internal Systems

Kraken reported that attackers tried to extort the firm using alleged internal access videos. However, the company said its systems remained secure, and funds stayed protected.

The firm identified two separate incidents involving support staff access and limited client data visibility. It removed both individuals quickly and enforced tighter security controls after internal investigations.

Kraken said the first case emerged in February 2025 after it received a tip about a circulating video. The company then revoked access, identified the individual, and informed affected users.

Kraken Security Update

We are currently being extorted by a criminal group threatening to release videos of our internal systems with client data shown if we do not comply with their demands. It’s important to start with the most important points: our systems were never…

— Nick Percoco (@c7five) April 13, 2026

Later, Kraken received another tip about a similar video linked to a different insider. It terminated access again and notified impacted users while strengthening safeguards.

Nick Percoco, chief security officer, stated, “Our systems were never breached; funds were never at risk.” He also added that the company will not negotiate with criminal groups.

Kraken said about 2,000 accounts were potentially viewed across both incidents. However, the firm emphasized that millions of users remained unaffected by the events.

Insider Access Cases Highlight Targeted Attack Attempts

Kraken reported that extortion demands followed shortly after it blocked the latest unauthorized access. The group threatened to release materials through media channels and social platforms.

The company confirmed it will not comply with any demands from the attackers. It also said it is working closely with law enforcement agencies and industry partners.

Kraken believes the case connects to wider insider recruitment efforts targeting crypto and technology firms. It stated that investigators have enough evidence to identify suspects.

The exchange added that it continues to improve internal monitoring and employee access controls. It also said it reviews processes to prevent similar incidents.

The firm stressed that no funds were lost and no core systems were compromised. It maintained that its infrastructure remained secure throughout both events.

Related Cybersecurity Event Reported by Galaxy Digital

Galaxy Digital also disclosed a separate cybersecurity incident involving unauthorized access. The company said the breach affected an isolated development workspace.

Galaxy Digital confirmed that no client funds or account data were exposed. It stated that the incident remained contained within internal systems.

The firm acted quickly to block access and investigate the situation. It also confirmed that operations continued without disruption.

Kraken said it continues to monitor threats and cooperate with authorities. Percoco stated, “We remain committed to combating insider recruitment threats globally.”

The post Kraken Reports Insider Incidents but Confirms No System Breach appeared first on Blockonomi.

Key Takeaways

Shares plunged approximately 5.4% to reach a 52-week low of $14.62 during Monday’s session

CEO Sean Connolly will depart on May 31 after a decade in leadership; successor John Brase begins June 1

Third-quarter earnings per share of $0.39 fell short of the $0.40 Wall Street consensus

Wall Street analysts have reduced price targets across the board; consensus rating stands at “Reduce” with $16.07 average target

The company offers a dividend yield near 9.8%, but a negative payout ratio threatens long-term sustainability

Conagra Brands experienced another difficult trading session on Monday, with shares sliding roughly 5.4% to establish a fresh 52-week low at $14.62. Trading activity surged, with close to 2 million shares exchanging hands during the session.

The sharp decline followed a major corporate announcement regarding leadership changes. CEO Sean Connolly, who has steered the company for ten years, will step down from his position on May 31. The board of directors has appointed John Brase to assume the chief executive role beginning June 1.

Brase brings extensive industry experience to the position. His background includes serving as Chief Operating Officer at J.M. Smucker and holding executive positions at Procter & Gamble. Conagra announced that Brase will simultaneously join the company’s board upon taking the helm.

Wall Street Downgrades Pile Up

Bank of America Securities maintained its Underperform stance on CAG stock with a $15 price objective following the leadership news. The investment firm characterized the announcement’s timing as unexpected and highlighted numerous challenges awaiting the new chief executive.

Primary among these obstacles: inflationary dynamics that eroded earnings per share during fiscal 2026 and threaten to constrain fiscal 2027 expansion. Bank of America also emphasized the dividend payout ratio, currently exceeding 80% — substantially above the company’s stated goal of 50–55%.

The company’s net debt to EBITDA ratio currently registers at 3.8x. Bank of America raised the possibility of divesting assets to strengthen the balance sheet, specifically mentioning Hebrew National and Odom’s Tennessee Pride as brands previously discussed as divestiture candidates.

Deutsche Bank reduced its price objective to $14 while maintaining a Hold recommendation. JPMorgan and Stifel each lowered their targets to $17. UBS decreased its target from $20 to $16, pointing to margin compression and headwinds expected in fiscal 2027.

Wall Street’s aggregate view currently registers as “Reduce” — comprising 1 Buy rating, 12 Hold ratings, and 4 Sell ratings — with a mean price objective of $16.07.

Disappointing Quarterly Performance Compounds Concerns

The company disclosed third-quarter financial results on April 1. Earnings per share registered at $0.39, missing the Wall Street consensus of $0.40 by a penny. Quarterly revenue reached $2.79 billion, surpassing expectations of $2.76 billion, though total revenue declined 1.9% compared to the prior-year period.

During the comparable quarter last year, Conagra delivered $0.51 in earnings per share — representing a significant year-over-year deterioration. The company’s net margin currently stands in negative territory at -0.39%, while the price-to-earnings ratio sits at -142.54.

Organic revenue advanced 2.4% during the quarter, supported by a 0.5% uptick in volume and a 1.9% boost from pricing and product mix adjustments. Profitability metrics, however, disappointed expectations, with reduced equity income from Ardent Mills further pressuring results.

Management revised its fiscal 2026 outlook following the quarterly report. Wall Street analysts are currently modeling full-year earnings per share of $2.35.

CAG’s 50-day moving average stands at $17.52, while the 200-day moving average registers at $17.60 — the current share price trades significantly beneath both technical levels. The stock has declined approximately 37% over the trailing twelve months and is down roughly 10.6% year-to-date.

The company’s quarterly dividend of $0.35 per share will be distributed on June 3 to shareholders of record as of April 30. Based on current trading levels, this equates to an annualized dividend yield of approximately 9.8%.

The post Conagra Brands (CAG) Plunges to 52-Week Low Following CEO Departure Announcement appeared first on Blockonomi.

Key Takeaways

Bank of America elevated Nokia from Neutral to Buy, raising the price target to €10.70 from €6.87.

Shares of Nokia advanced nearly 2% in Helsinki trading after the upgrade was announced.

The bullish call centers on Nokia’s expanding optical networking operations and AI data center opportunities.

BofA projects Nokia’s Optical Networks division will achieve a 17% compound annual growth rate until 2028.

The bank’s earnings per share projections for 2026–2028 exceed consensus estimates by 13–15%.

Shares of Nokia climbed on Monday following Bank of America’s decision to upgrade the Finnish telecommunications equipment manufacturer to Buy, citing accelerating momentum in optical networking and increasing demand from hyperscale cloud providers building AI-focused infrastructure.

BofA analyst Oliver Wong spearheaded the ratings change, elevating the price target from €6.87 to €10.70 — representing a substantial 56% increase. By midday GMT, Nokia shares had gained approximately 2% in Helsinki.

The investment bank also revised its valuation approach, transitioning from an EV/EBITDA methodology to a sum-of-the-parts framework. This new model assigns a 30x multiple on projected 2027 EBIT for Nokia’s Optical and IP Networks division, while applying a 10x multiple to remaining business segments.

The 2025 Infinera acquisition plays a critical role in BofA’s investment thesis. This transaction strengthened Nokia’s footprint with major U.S. cloud providers, and analysts view it as a strategic inflection point for the company’s market positioning.

BofA forecasts Nokia’s Optical Networks division will expand at a 17% compound annual growth rate through 2028. The projection is underpinned by increasing demand for optical systems and anticipated revenue acceleration in coherent pluggable technology as the industry transitions from 400G to 800G transmission speeds.

Wong’s research team characterized Nokia as “evolving into an optical powerhouse with a distinctly European competitive edge.” The analysts believe the company’s official 10–12% growth guidance for Optical and IP Networks is overly cautious, anticipating Nokia will exceed these targets and revise them upward.

IP Networks Growth and European Data Center Opportunities

Regarding IP Networks, BofA anticipates Nokia will gain significant market share in European data center switching, bolstered by its strategic alliance with NScale, a neocloud operator with strong European market focus.

The investment bank projects Nokia could generate €226 million in data center switching revenue during 2026, expanding to €407 million by 2028.

Mobile Infrastructure continues to represent Nokia’s largest revenue generator. BofA forecasts operating margins in this segment will improve from 13.4% in 2025 to 17.8% by 2028, supported by portfolio optimization and increased software emphasis.

Nvidia Collaboration and Chinese Vendor Replacement Potential

Nokia’s strategic partnership with Nvidia provides additional upside potential. Nvidia committed $1 billion to Nokia in October 2025, targeting AI-RAN applications. While BofA doesn’t anticipate substantial near-term revenue from this collaboration, the bank identifies it as a meaningful long-term catalyst.

Potential replacement of Huawei and ZTE infrastructure throughout Europe isn’t incorporated into BofA’s baseline projections — but analysts recognize this as genuine upside potential if regulatory pressures or political considerations continue steering European carriers away from Chinese equipment suppliers.

BofA’s earnings per share estimates for 2026–2028 sit 13–15% above consensus Street forecasts. This divergence indicates the market hasn’t fully incorporated Nokia’s optical networking transformation into current valuations, according to BofA’s assessment.

Jefferies maintains a Buy rating on Nokia as well, with an €8.80 price target established in an April 8 research report.

The post Nokia (NOK) Stock Surges Following Bank of America’s Bullish Upgrade on AI Infrastructure Play appeared first on Blockonomi.

Key Takeaways

For the first time ever, Meta is expected to eclipse Google in worldwide digital advertising revenue during 2026.

Emarketer forecasts Meta’s net advertising revenue at $243.46B compared to Google’s $239.54B.

Meta’s advertising expansion rate is anticipated to climb to 24.1% in 2026, rising from 22.1% in 2025.

Advanced AI capabilities and fresh advertising formats including Reels, Threads advertisements, and WhatsApp commercial placements fuel expansion.

The trio of Meta, Google, and Amazon is predicted to command 62.3% of worldwide digital advertising expenditure in 2026.

Meta Platforms is positioned to claim the title of the world’s dominant digital advertising enterprise in 2026, based on forecasts from market intelligence firm Emarketer. This milestone would mark the first occasion Meta has surpassed Google in this competitive arena.

Emarketer’s analysis indicates Meta’s worldwide net advertising revenue will hit $243.46 billion this year. Google’s projection stands at $239.54 billion. Both numbers exclude traffic acquisition and content-related expenses.

Meta’s advertising expansion velocity is anticipated to surge to 24.1% in 2026, compared to 22.1% in 2025. Meanwhile, Google’s growth trajectory is expected to remain relatively stagnant at approximately 11.9%.

META DETHRONING GOOGLE AS WORLD’S LARGEST AD BUSINESS

>google ad revenue: $239B
>growth 11.9% and flatlining

>meta ad revenue: $243B
>growth 24.1% and accelerating

META’s AI bets are already printing money:

>ai boosted reels watch time up 30%
>ai slop tools for… pic.twitter.com/U53nkl9GkS

— NIK (@ns123abc) April 13, 2026

Industry observers highlight that Meta’s aggressive growth at this magnitude is uncommon. Typically, platforms experience deceleration as they expand. Meta is bucking this trend.

Artificial intelligence plays a central role. Meta’s AI-powered recommendation algorithms increased Reels viewing duration in the United States by over 30% in the latest quarter versus the prior year period. Extended viewing translates directly to additional advertising opportunities.

Reels alone is projected to deliver $50 billion in revenue over the coming twelve months, the Wall Street Journal reports. Meta additionally disclosed that its video-generation technology achieved a $10 billion revenue run rate during Q4.

Advantage+ and Emerging Ad Formats Drive Momentum

Meta’s Advantage+ automated advertising platform has emerged as a critical catalyst. The solution streamlines campaign creation and enhances marketing ROI, attracting widespread advertiser adoption.

The social media giant has simultaneously broadened its advertising real estate through new placements on WhatsApp and Threads. This expansion positions Meta as a direct rival to platforms such as X. Instagram’s Reels format remains locked in competition with TikTok and YouTube Shorts for short-form video advertising dollars.

Emarketer analyst Max Willens credited Meta with demonstrating “incredible patience” — cultivating user engagement across Reels, Threads, and WhatsApp prior to activating monetization features. The approach is yielding substantial returns.

Meta’s infrastructure investment is projected to reach $135 billion this year as the company accelerates its AI capabilities.

Google Confronts Challenges Across Multiple Sectors

Google is navigating obstacles that extend beyond Meta’s ascension. The search giant’s portion of the US search advertising market is forecast to slip beneath 50% for the first time in more than ten years, declining to 48.5% in 2026.

Amazon has gradually eroded Google’s search supremacy as growing numbers of shoppers initiate product searches directly within the e-commerce marketplace.

Google’s varied business structure also constrains advertising revenue expansion. YouTube Premium diverts a significant user base away from ad-supported content, restricting monetization potential.

Smaller competitors experience heightened vulnerability from this transformation. Snap and Pinterest are viewed as particularly susceptible to advertising budget reductions, as marketer spending concentrates increasingly among dominant platforms.

Google and Meta both declined requests for comment.

Emarketer clarified that recent judicial decisions affecting Meta and YouTube were excluded from the analysis, as projections were finalized prior to those rulings.

Collectively, Meta, Google, and Amazon are forecast to control 62.3% of global digital advertising expenditure in 2026, advancing from 59.9% in 2025.

The post Meta Platforms (META) Stock Set to Claim Top Spot in Digital Advertising by 2026 appeared first on Blockonomi.

Key Highlights

Altimeter Capital’s Brad Gerstner projects Anthropic’s ARR could surge to $80B–$100B by year-end 2026

The company’s ARR currently exceeds $30B, a massive jump from $9B recorded at 2025’s close

Claude’s average daily user count more than doubled between February and March 2026

More than 1,000 enterprise clients now invest over $1M per year in Anthropic’s services

ChatGPT experienced declines in web traffic and mobile usage during March as Claude and Gemini expanded their presence

Brad Gerstner, who founded Altimeter Capital, recently described Anthropic’s revenue trajectory as among the most explosive growth stories in technology sector history. During a weekend podcast appearance, he projected the AI company’s annual revenue run rate could climb to somewhere between $80 billion and $100 billion before 2026 concludes.

This projection represents approximately a threefold increase from Anthropic’s current position. The company’s ARR has now crossed the $30 billion threshold, surging from roughly $9 billion when 2025 ended. Just months earlier in 2026, that metric stood at approximately $15 billion.

Anthropic had initially set its sights on achieving an ARR ranging from $20 billion to $26 billion throughout the calendar year. The company has already exceeded those ambitious targets.

According to Gerstner, the organization has experienced a significant “rebound” during the last three months following a period where it received relatively little attention throughout 2025. He now characterizes the company as surpassing OpenAI, whose ARR currently sits in the $24 billion to $25 billion range.

Business Customers Driving Explosive Revenue

Anthropic now counts over 1,000 enterprise organizations that each commit more than $1 million annually to its platform. The company’s Claude AI models have gained widespread adoption for coding assistance, workflow automation, and API-driven applications.

The company introduced Claude CoWork in January 2026 and most recently unveiled an innovative AI model named Mythos. These product launches have maintained strong visibility for Anthropic throughout the tech industry.

To accommodate its rapid expansion, Anthropic has partnered with Google and Broadcom on developing 3.5 gigawatts of computing infrastructure. Gerstner emphasized that achieving the $100 billion ARR milestone will demand substantial infrastructure capital.

Market Share Shifts Favor Claude

Recent analysis from BNP Paribas reveals that Claude’s portion of chatbot website traffic nearly doubled, climbing from 3.6% in February to 6.6% by March. The platform’s average monthly daily active users jumped from 0.8% to 1.8% during the same timeframe.

Google’s Gemini platform similarly expanded, with its website visit share increasing from 26.2% to 28% in March.

While ChatGPT maintains its position as the leading chatbot platform, it experienced declines in both web traffic and mobile application usage throughout March, based on analysis from BNP researchers led by Nick Jones.

Amazon also featured prominently in the BNP analysis. Uber recently broadened its deployment of Amazon’s Gravitron4 and Trainium3 chip architectures. Amazon CEO Andy Jassy disclosed that AWS AI-related ARR has reached $15 billion, while chip-specific ARR stands at $20 billion.

Meta’s recently launched Muse Spark AI model triggered a significant spike in downloads for the Meta AI application. BNP analysts noted the launch demonstrates Meta’s advancing AI strategy.

Anthropic ranks among multiple privately-held technology companies potentially preparing for public offerings in 2026, with preliminary valuation estimates hovering around $300 billion.

The post Anthropic’s Claude AI on Track for $100B Revenue Run Rate by Late 2026 appeared first on Blockonomi.

Key Highlights

DVLT shares climb following Biconomy exchange integration announcements

Meme coin portfolio and RWA token expansion drive stock momentum

Enhanced liquidity infrastructure through Biconomy platform integration

TRITON token activity and new asset launches fuel growth trajectory

International market penetration strengthens through strategic listings

Shares of Datavault AI Inc (DVLT) climbed to $0.6975, posting a 2.89% increase following a mid-morning surge. The upward movement came on the heels of announcements regarding new exchange integrations and broadened digital asset initiatives. The firm maintains focus on scaling its tokenization platform throughout international territories.

Datavault AI Inc., DVLT

Biconomy Platform Integration Drives Token Accessibility

Datavault AI announced forthcoming integration of its meme coin collection and real-world asset tokens onto the Biconomy exchange platform. This strategic partnership focuses on penetrating Southeast Asian territories and expanding international footprint through enhanced trading infrastructure. The initiative represents a significant step in the company’s geographic diversification strategy.

With a user base exceeding 10 million participants spanning over 180 nations, Biconomy delivers substantial daily transaction volumes. Furthermore, the exchange provides extensive liquidity pools and diverse trading pair options for worldwide participants. Management anticipates accelerated market penetration and enhanced adoption metrics for its digital asset portfolio.

The integration encompasses various proprietary tokens connected to athletic events, collectible items, and tokenized tangible assets. These digital instruments integrate seamlessly into the company’s comprehensive exchange ecosystem. Consequently, the firm reinforces its competitive standing within the token creation and revenue generation sectors.

Sports-Linked Collectible Token Launches Championship Series

The Dream Bowl I Meme Coin functions as a commemorative digital collectible associated with Dream Bowl XIV activities. This asset merges athletic fan engagement with blockchain-based ownership frameworks and decentralized distribution channels. It aligns with Datavault AI’s strategic emphasis on fan-centric token economies.

The digital asset builds upon previously disclosed programs connecting sporting competitions with distributed ledger collectibles. It establishes formalized digital ownership frameworks for event-associated assets. The organization expands its footprint within athletics-related tokenization markets.

Biconomy integration will deliver enhanced liquidity depth and expanded accessibility for international traders and digital collectors. The token leverages proven exchange architecture and existing market demand. This development reinforces the company’s collectible token development roadmap.

Dividend-Distribution Token Model Extends Portfolio Offerings

The Dream Bowl II Meme Coin serves as a shareholder dividend instrument tied to athletic partnership agreements. This digital asset expands upon earlier distribution frameworks connected to user engagement and community participation. It amplifies the organization’s token-based incentive mechanisms.

The token incorporates strategic alliances including NFL Alumni Health, supporting community-focused programs. This reflects an industry-wide transition toward tokenized reward architectures within digital environments. Datavault AI broadens its utility-focused token portfolio.

Biconomy platform integration facilitates expanded distribution networks and trading functionality across global territories. It strengthens liquidity infrastructure for dividend-bearing digital instruments. The company thereby advances its systematic token deployment framework.

Heritage-Based Collectibles and Asset-Backed Tokens Accelerate Revenue Streams

The Josh Gibson Meme Coin commemorates the baseball legend’s legacy through a name, image, and likeness-based digital collectible. This token functions in partnership with the Josh Gibson Foundation and affiliated organizations. It reinforces the company’s positioning in historically significant tokenization initiatives.

The firm progresses with proprietary real-world asset stablecoins secured by designated tangible assets. Additionally, the organization supports the TRITON token, which maintains active trading status on Biconomy currently. The tokenization development pipeline demonstrates advancement from partnership agreements to operational market presence.

The TRITON initiative connects to geothermal energy assets certified by the U.S. Department of Energy. Moreover, Datavault AI generates revenue through token creation and transaction-based fees. This establishes sustainable revenue channels via structured tokenization operations.

The company advances development of its Information Data Exchange utilizing the Nasdaq Financial Framework architecture. This platform targets scalable and regulation-compliant digital asset transactions. Management positions the organization for sustained expansion within tokenized infrastructure markets.

 

The post Datavault AI Inc (DVLT) Stock Climbs on Biconomy Exchange Listings and Token Portfolio Growth appeared first on Blockonomi.

TLDR:

SEC staff said DeFi front-ends may skip broker-dealer registration if strict operational conditions are met.

Providers must charge fixed, neutral fees and cannot accept payment for order flow from third parties.

Covered User Interfaces must not route orders, hold user funds, or offer any investment recommendations.

The SEC guidance takes effect April 13, 2026, and will remain valid for five years barring further action.

The SEC’s Division of Trading and Markets issued a staff statement on April 13, 2026, clarifying when certain crypto trading interfaces may operate without broker-dealer registration.

The guidance covers DeFi front-ends, wallet extensions, and mobile apps used for crypto asset securities transactions.

Providers must meet specific conditions to qualify. The statement remains effective for five years unless the Commission takes further action before then.

Conditions That Define a Covered User Interface

A Covered User Interface is software that helps users prepare transactions involving crypto asset securities. It connects to a user’s self-custodial wallet and converts transaction parameters into blockchain-readable commands. These interfaces can also display market data, such as asset prices and estimated gas fees.

The SEC staff said providers must not route orders or exercise discretion over transactions. Users must be able to customize default transaction parameters such as price slippage and gas fees. Educational material must also be available to help users set those parameters themselves.

Providers cannot solicit users into specific crypto-asset transactions. Any affiliated trading venues must be clearly disclosed to users. The interface must connect to affiliated venues on the same terms as unaffiliated ones.

When only one execution route appears, the interface must let users view additional routes. If multiple routes are shown, sorting tools based on objective factors like price or speed must be available. Providers cannot label any route as the “best” or “most reliable.”

Fee Structures and Disclosure Requirements

Compensation for Covered User Interface Providers must follow strict rules. Fees must be fixed and applied consistently across all transactions. The SEC said providers cannot accept payment for order flow or receive fees from anyone other than the user.

Providers must prominently disclose all material facts about their role and fees. This includes a clear disclaimer stating they are not registered with or regulated by the SEC. Disclosures must also cover cybersecurity policies, MEV-related risks, and any conflicts of interest.

The statement also lists activities that fall outside this guidance. Providers cannot hold user funds, execute or settle transactions, or make investment recommendations. Taking or routing orders is also excluded from the safe harbor described in the statement.

The SEC said maintaining policies, procedures, and internal records may help providers demonstrate compliance. Public comments on the statement can be submitted electronically or by mail using File Number 4-894. The staff said it welcomes input on all aspects of the guidance issued.

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