Blockonomi

TLDR:
Cardano partners with Brazil Olympic Committee to deploy blockchain across sports governance.
Three-year roadmap targets digital identity, fan engagement, equipment tracking, and governance.
Pilot programs begin after executive workshops, focusing on verifiable athlete certifications.
Public blockchain use aims to boost transparency, efficiency, and trust in sports institutions.
The Cardano Foundation has entered a strategic partnership with the Brazilian Olympic Committee (COB) to integrate blockchain, artificial intelligence, and IoT technologies into Olympic sports management systems. The collaboration outlines a three-year roadmap focused on modernizing governance, athlete services, and fan engagement.
COB aims to position itself as a global benchmark for digitally transformed sports institutions. The initiative is anchored on public blockchain infrastructure, with Cardano providing the underlying ecosystem.
Blockchain Integration Targets Identity, Governance, and Fan Engagement
The partnership focuses on four core operational pillars designed to reshape how sports institutions manage data and interact with stakeholders.
These include digital identity and certification systems for athletes and coaches, enabling globally verifiable credentials. COB also plans to develop new fan engagement models powered by blockchain-based experiences.
Another focus area is equipment tracking using IoT devices linked to immutable digital records. Governance and transparency frameworks will also be upgraded, particularly in funding and incentive programs.
According to the announcement, these systems aim to create permanent, auditable, and verifiable records across the sports ecosystem.
The goal is to improve data integrity, operational efficiency, and institutional trust. COB expects pilot programs to begin in the coming months following initial executive workshops.
Big news: we've partnered with the Brazilian Olympic Committee (@timebrasil) to transform Olympic sport with public blockchain, IoT, and AI.
The three-year roadmap aims to position COB as the global benchmark in sports innovation.
The best part? It's all powered by Cardano. pic.twitter.com/6hA447HCZo
— Cardano Foundation (@Cardano_CF) June 2, 2026
Three-Year Roadmap Begins With Institutional Pilots
The collaboration has already entered its early execution phase, starting with executive-level workshops between both organizations. These sessions are expected to guide the design of institutional pilot projects before broader rollout.
COB leadership framed the initiative as part of a wider digital transformation strategy. Officials emphasized that the goal extends beyond technical modernization, focusing instead on education, transparency, and institutional trust-building.
The roadmap spans three years and is structured to progressively integrate blockchain-based systems into core sports operations. Early deployments will test identity systems, governance tools, and data tracking mechanisms in controlled environments before scaling.
Strategic Push Positions Brazil as Sports Innovation Hub
The partnership signals a broader ambition to position Brazilian sport at the forefront of global sports innovation. By combining blockchain, AI, and IoT, COB aims to establish a model for other national sporting bodies.
Cardano’s role in the project reinforces its push into real-world institutional adoption beyond crypto-native applications. The initiative also highlights growing interest in public blockchain infrastructure for governance and certification systems.
If successful, the project could serve as a reference model for how large sports organizations implement transparent digital systems at scale.
The post Cardano Foundation Partners With Brazilian Olympic Committee in Blockchain Push appeared first on Blockonomi.

TLDR:
160 former security and intelligence officials publicly backed the Clarity Act before Senate review.
The proposal expands AML, sanctions, and compliance duties across key crypto market participants.
Treasury would lead a new information-sharing program targeting digital asset crime risks.
Supporters say the bill increases enforcement tools without limiting existing criminal authorities.
A group of 160 former national security, intelligence, and law enforcement officials has urged the U.S. Senate to advance the Clarity Act. The push adds national security backing to one of the most closely watched crypto market structure bills in Washington.
Supporters argue the proposal would strengthen oversight while expanding enforcement tools across digital asset markets. The letter targets Senate leadership as lawmakers continue debating the future of crypto regulation in the United States.
Clarity Act Support Centers on Crypto Oversight and Enforcement
The officials outlined their position in a letter released through the Blockchain Association on June 3. They addressed the document to Senate Majority Leader John Thune and Senate Democratic Leader Chuck Schumer.
According to the letter, digital asset activity continues to expand globally and increasingly crosses multiple jurisdictions. The signatories argued that the United States should keep that activity under domestic regulatory oversight rather than allowing it to move offshore.
They said a federal framework could improve visibility for investigators and strengthen enforcement efforts against financial crime. The group also stated that regulatory clarity would help law enforcement agencies track illicit activity more effectively.
The letter highlighted several provisions included in the Clarity Act. Among them are expanded Bank Secrecy Act and sanctions compliance obligations for digital commodity brokers, dealers, and exchanges.
The proposal would also create a Treasury-led information-sharing pilot program involving agencies such as the Department of Justice, FBI, and DEA. The initiative would focus on illicit finance threats and emerging risks tied to digital assets.
1/ Today, we’re sending a letter to Senate Majority Leader Thune and Senate Democratic Leader Schumer signed by 160 former national security, intelligence, and law enforcement professionals in support of the Clarity Act.https://t.co/1lSQkoaaXI pic.twitter.com/JYP8DYIccl
— Blockchain Association (@BlockchainAssn) June 2, 2026
Clarity Act Provisions Expand AML and National Security Measures
The signatories pointed to additional measures designed to strengthen anti-money laundering controls. These include broader suspicious activity reporting requirements and customer due diligence obligations for certain non-decentralized finance trading protocols.
The legislation would establish a permanent interagency working group involving Treasury, DOJ, DHS, FBI, DEA, IRS, and the Secret Service. That group would develop future anti-money laundering and counter-illicit finance proposals for digital assets.
Other provisions address digital asset kiosks through transaction monitoring requirements, reporting obligations, transaction limits, and law enforcement contact procedures. The bill also seeks to clarify sanctions compliance expectations for distributed ledger messaging systems through Treasury guidance.
According to the letter, the Clarity Act would extend Section 311 special measures authorities to digital asset activity and allow temporary holds on suspicious transactions. It would also require law enforcement notification in specific circumstances and reinforce compliance with lawful court orders.
The officials stressed that the legislation does not reduce enforcement authority. They argued that existing powers covering fraud, money laundering, sanctions evasion, terrorism financing, trafficking, and other crimes would remain unchanged under the proposed framework.
Blockchain Association shared the letter publicly, describing the Clarity Act as a framework that could strengthen coordination, compliance, and accountability across crypto markets while keeping oversight within U.S. jurisdiction.
The post Blockchain Association-Backed Clarity Act Gains Support From 160 Former Security Officials appeared first on Blockonomi.

TLDR:
Bitwise CIO Matt Hougan says crypto is now a contrarian bet as AI stocks pull capital from digital assets.
The Clarity Act faces uncertain passage, with approval odds ranging from 5% to 55% among insiders.
Hyperliquid surged 72% in May 2026, leading a rotation into fundamentals-driven crypto assets.
Hougan warns crypto cannot thrive amid regulatory limbo, regardless of on-chain market activity.
Bitwise CIO Matt Hougan says the crypto market is transitioning from a momentum-driven trade into a contrarian bet in 2026.
Bitcoin is down 21% year-to-date, while Ethereum, Solana, and XRP have fallen further. ETF outflows and low spot trading volumes reflect fading retail enthusiasm.
With AI stocks drawing capital away from digital assets, Hougan argues that crypto investors must now prioritize fundamentals over sentiment to navigate the current cycle profitably.
AI Dominance and Regulatory Limbo Pressure Crypto Markets
Hougan points to AI stocks as the primary force pulling capital away from crypto. The Nasdaq-100 is up 43% year-over-year, with AI equities, robotics companies, and SpaceX commanding investor attention.
Against that backdrop, crypto has lost its status as the market’s most exciting momentum trade. Hougan wrote in a recent memo that “AI is sucking all the oxygen out of the room,” forcing crypto through a painful but necessary transformation.
The Clarity Act adds another layer of pressure on the asset class. The bill aims to establish a comprehensive regulatory framework for digital assets in the United States.
It recently cleared a Senate hurdle, but Polymarket puts year-end passage odds at just 55%. Hougan noted that Washington insiders he consulted put the odds between 5% and 30%, making approval far from certain.
Hougan framed the institutional dilemma directly: “Imagine you’re an institutional investor today. You can either invest in AI stocks, which seem to set a new all-time high every day, or invest in crypto, knowing there’s an almost 50% chance of a major regulatory setback in the next two months.” That contrast explains why large allocators remain on the sidelines heading into summer.
On the Clarity Act outcome, Hougan was clear about what matters most. “Crypto can survive Clarity failing or rally if Clarity passes,” he wrote.
“But it can’t thrive in the in-between.” Until the legislative picture resolves, major tokens will likely remain under pressure regardless of on-chain activity.
Fundamental Rotation Points to a Maturing Crypto Winter
Hougan noted that the current downturn differs from past crypto winters, where bitcoin typically served as the default safe haven.
This cycle, capital is rotating into smaller assets with credible, revenue-backed narratives. Hyperliquid gained 72% in May 2026 alone, while Zcash rose 50%, Stellar climbed 44%, and BNB added 17% against broad market losses.
Hougan described the pattern as deliberate rather than speculative. “None of them are macro names,” he wrote. “All of them have idiosyncratic stories the market is rewarding.”
Hyperliquid, in particular, has drawn attention for its protocol revenue and transparent on-chain fundamentals, reflecting the kind of asset Hougan says investors now favor.
The Bitwise CIO also used the rotation as a timing indicator for the broader cycle. “In the heart of a crypto winter, everything’s red,” he noted.
“When the green starts to look like real growth, the season is changing.” He argued the current price action suggests the market is closer to the end of winter than the beginning.
Hougan acknowledged the near-term outlook remains uncomfortable, with SpaceX going public and Anthropic filing its S-1 likely to keep AI headlines dominant.
Still, he maintained that contrarian bets reward patience. “It’s probably not going to feel good to add crypto exposure,” he wrote. “But that’s the thing about contrarian investing.”
The post Bitwise CIO: Crypto Is Now a Contrarian Bet as AI Stocks Steal the Spotlight appeared first on Blockonomi.

TLDR
UK lawmakers urged regulators to avoid delays in final stablecoin rules.
The report said a GBP stablecoin market could support faster and cheaper payments.
The committee backed one-to-one reserve backing for stablecoin issuers.
Lawmakers questioned proposed holding limits and unremunerated backing asset rules.
The report urged HM Treasury to review risks tied to private unhosted wallets.
UK lawmakers have urged regulators to avoid delays in final stablecoin rules as global frameworks move ahead. The House of Lords Financial Services Regulation Committee warned that slow action could weaken the UK’s position. Its report calls for rules that support safe innovation while addressing financial stability and consumer risks.
Committee Sees Room for a GBP Stablecoin Market
The committee argued that a sterling stablecoin market could support faster and cheaper payments. It also linked the technology to settlement efficiency and programmable payment services. The report noted that stablecoins could complement existing forms of money. It also stated that new payment options could increase competition across the UK payments sector.
Lawmakers pointed to the UK’s established financial services industry as an advantage. They argued that the country should allow a GBP stablecoin market to form and grow. The committee also noted that a strong market could support wider services around stablecoins. It linked those services to new business opportunities in the wider digital finance sector.
However, the report also identified risks that regulators must address before wider adoption. These include financial stability concerns, banking sector disruption, and consumer protection issues. The committee also raised concerns about illicit activity linked to stablecoins. It described that issue as a global concern for regulators and policymakers.
Lords Back Core Rules but Question Limits
The committee supported much of the Bank of England and FCA stablecoin framework. It backed the proposed requirement for issuers to hold one-to-one backing assets. Lawmakers also welcomed the Bank of England’s proposed backstop lending facility. The report viewed that tool as part of the wider risk management framework.
However, the committee questioned parts of the UK’s planned regime. It noted that some proposals would diverge from rules used in other major markets. The report focused on holding limits, unremunerated backing assets, and commercial bank restrictions. It stated that these measures could shape how the market develops.
The committee recommended that the Bank reconsider the 40% central bank deposit requirement. It argued that unremunerated assets may affect how issuers manage reserves. It also urged regulators not to impose holding limits before risks justify them. The report warned that early limits could restrict GBP stablecoin growth.
Report Calls for Timelines and Flexible Regulation
The committee urged regulators to keep current timelines and avoid further delays. It stated that final rules should give firms certainty and market confidence. The report also recommended a flexible approach to future stablecoin use cases. It argued that regulators should not assume how digital settlement tools will develop.
Lawmakers urged regulators to avoid applying a harsher risk lens to stablecoins. They asked authorities to compare risks with other payment methods fairly. Baroness Noakes, the committee chair, noted that dollar stablecoins dominate the global market. She also stated that the UK has moved more slowly than the US and the EU.
“The UK is lagging behind compared with the US and the EU,” Noakes stated. She added that the UK was now moving in the right direction. The committee also addressed commercial bank involvement in stablecoin issuance. It recommended changes to proposed PRA rules on separate branding and insolvency-remote entities.
The report further urged HM Treasury to review rules for private unhosted wallets. It asked officials to consider legislation if current laws cannot deter illicit activity. Noakes stated that no one knows how a UK stablecoin market may develop. She added that regulation must allow innovation while ensuring risks receive effective controls.
The post UK House of Lords Pushes Bank of England on Stablecoin Rule Delays appeared first on Blockonomi.

TLDR:
Ripple opens an expanded D.C. office to deepen engagement with U.S. digital asset policymakers.
CLO Stu Alderoty says Ripple builds the future of digital assets with regulators, not around them.
The office will serve as a hub for convening regulators, financial institutions, and industry partners.
Ripple’s policy focus covers consumer protection, regulatory clarity, and U.S. financial innovation leadership.
Ripple has opened an expanded Washington D.C. office, deepening its commitment to U.S. digital asset policy. The blockchain firm is planting a firmer stake in the nation’s capital at a defining moment for the industry.
Policymakers are actively debating frameworks covering market structure, stablecoins, and payments modernization.
Ripple’s move positions the company at the heart of those conversations. The expansion reflects a long-term bet on constructive engagement over confrontation.
Ripple’s D.C. Expansion Targets the Heart of Digital Asset Policymaking
The new downtown office will anchor Ripple’s policy engagement and stakeholder convening in Washington. It is designed to bring together regulators, financial institutions, policymakers, and industry partners.
Ripple sees the space as more than a physical address and as a platform for shaping financial infrastructure policy. That ambition drives the company’s decision to deepen its Washington footprint now.
The philosophy behind the move is straightforward. Chief Legal Officer Stu Alderoty put it plainly: “Ripple has always believed the future of digital assets should be built with policymakers and regulators, not around them.”
That position separates Ripple from peers who have taken a more adversarial approach to oversight. The company is not waiting for rules to be written and intends to help write them.
Alderoty further tied the expansion to a broader national interest. “Expanding our Washington D.C. presence reflects our long-term commitment to constructive engagement, regulatory clarity, and U.S. leadership in financial innovation,” he said.
Those three pillars define how Ripple approaches every conversation with lawmakers and regulators. They also explain why the company is investing in a permanent, expanded presence rather than periodic visits.
The timing of the expansion carries weight. Congress and federal agencies are currently considering legislation that could reshape how digital assets are classified, traded, and regulated.
Ripple’s expanded presence ensures the company has direct access to those deliberations as they unfold. Early engagement in policy processes tends to produce outcomes more favorable to innovation.
Deepening Commitment Comes as U.S. Digital Asset Policy Reaches an Inflection Point
Ripple’s expanded Washington presence arrives as the broader digital asset industry recalibrates its approach to regulation. Several major firms have grown their policy teams and D.C. footprints over the past year.
Ripple’s move fits that trend but carries particular credibility given its decade-long record of enterprise blockchain deployment. Operational history gives the company a practical voice that newer entrants cannot match.
Alderoty reinforced the consumer-facing dimension of the company’s policy goals. “As blockchain and digital assets become more integrated into the financial system, Ripple is committed to helping shape policy that protects consumers, supports responsible innovation, and keeps America competitive,” he stated.
That framing positions Ripple as an advocate for end users, not just industry interests. It is a deliberate effort to build trust with skeptical regulators and lawmakers.
The expanded office will also serve as a convening space for broader industry and regulatory dialogue. Ripple is positioning itself as a facilitator of conversations, not just a participant in them.
Bringing diverse stakeholders together is a deliberate strategy to build credibility over time. That credibility, sustained through consistent engagement, translates into lasting policy influence.
Ripple’s deepening commitment to Washington reflects a clear-eyed view of where digital asset policy is headed. The company believes the United States has a critical opportunity to lead global financial innovation responsibly.
Sustained engagement, not reactive lobbying, is how Ripple intends to help shape that outcome. The expanded D.C. office is the clearest signal yet of that long-term commitment.
The post Ripple Expands Washington D.C. Office to Shape U.S. Digital Asset Policy appeared first on Blockonomi.

TLDR:
Wintermute confirms long-term funds are buying BTC in OTC tranches with an 18-month price outlook.
BTC and ETH ETFs shed nearly $2B in combined outflows over ten days, the longest streak since launch.
Wintermute places key BTC downside support between $60,000 and $65,000 amid summer weakness.
Crypto missed two straight weeks of the equity rally as AI earnings drove rotation into Nasdaq stocks.
Crypto market maker Wintermute reports that long-term funds have begun accumulating Bitcoin through OTC desks in tranches, even as spot prices sit near $72,000.
The firm’s June 1 market update says these buyers see current levels as attractive on an 18-month horizon. The move comes as BTC and ETH ETFs recorded nearly $2 billion in combined outflows over ten days, marking the longest redemption streak since their launch.
BTC OTC Desks Record Quiet Accumulation From Long-Duration Holders
BTC OTC activity is picking up from longer-term oriented funds, Wintermute confirmed in its weekly update. The firm stated that it is “seeing longer-term holders start to TWAP into the market through the OTC desk, with no appetite to call the exact bottom but a view that these levels look attractive on an 18-month basis.”
The move comes in tranches rather than single large orders, a method that avoids moving spot price.
Wintermute placed key downside support between $60,000 and $65,000. That range represents the floor longer-term holders appear to be referencing when sizing their positions.
The firm described the setup as “relatively weak into the summer months” but noted the underlying cycle looks more like a reset than a structural breakdown.
Wintermute: Long-Term Funds Are Buying BTC in OTC Tranches
Wintermute, a leading crypto market maker and OTC desk, said crypto has failed to follow the broader risk-asset rally for two straight weeks, as about $2 billion flowed out of BTC and ETH ETFs while fresh capital moved… pic.twitter.com/cZqp2a2CEu
— Wu Blockchain (@WuBlockchain) June 2, 2026
The OTC accumulation stands in contrast to what is happening in the ETF market. BTC spot ETFs recorded approximately $1.4 billion in outflows during the most recent week, extending the longest redemption streak since their launch.
ETH ETFs shed around $240 million over the same period. Between May 20 and May 29, combined BTC and ETH ETF outflows reached nearly $2 billion.
Strategy, the largest corporate Bitcoin holder, began selling during this window as well. That development added to bearish sentiment across crypto-native circles.
Wintermute noted that “the bid that carried BTC from $70k to $80k in April is gone,” with the marginal dollar now sitting in Nvidia, Dell, and small-cap equities instead.
Crypto Sits Out the Equity Rally as Macro Pressure Persists
Wintermute noted that crypto has now missed two consecutive weeks of the broader risk-asset rally. The firm said “the risk-on rotation went into Nasdaq and the Russell 2k” while crypto, described as “the most risk-sensitive cross-asset class, got skipped.” The S&P 500 logged its ninth straight green week, gaining 1.9%, while the Nasdaq rose 8% on the month.
The macro backdrop explains part of the divergence. April PCE printed at 3.8% headline, with core rising to 3.3%. The bond market is pricing a 35–40% probability of a rate hike before year-end.
Wintermute flagged that “it’s not unthinkable to see stagflation and double dip inflation pop up again in Q3,” particularly with AI-driven demand keeping the broader economy hot.
Equities are climbing through that backdrop on the strength of an AI earnings story. Wintermute observed that “equities aren’t rallying because the macro improved — they’re rallying because AI earnings keep printing and the market is choosing to look through everything else.” Crypto has no equivalent narrative, leaving it fully exposed to the same headwinds the equity market is bypassing.
Near-term catalysts include Wednesday’s CPI and PPI data and the Monday launch of CME Nasdaq crypto index futures.
Wintermute identified ETF flows as the key metric to watch, noting that “sustained inflows marked the institutional return in April” and that their continued absence is “what’s keeping spot heavy.”
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TLDR:
The CFTC approved the first perpetual futures contract on a US regulated venue on May 29, 2025.
Perpetual futures use a funding rate mechanism to keep contract prices aligned with the spot market.
Regulated platforms Kalshi and Polymarket stand to benefit from the CFTC’s new regulatory framework.
The approval marks a step toward DeFi platforms like Hyperliquid gaining access to US-based users.
The CFTC perpetual futures approval on May 29 marks a turning point for US derivatives markets. For the first time, a perpetual futures contract has received regulatory clearance on a domestic venue.
The move follows crypto’s growing influence on traditional finance, after stablecoins and tokenized assets led the way. It also opens a path for decentralized platforms like Hyperliquid to eventually reach American users.
Crypto Exports Another Innovation to Traditional Finance
The digital assets industry has steadily introduced new financial instruments to mainstream markets. Stablecoins were the first major export, offering dollar-pegged utility across global payment rails.
Tokenized assets followed, bringing real-world value onto blockchain infrastructure. Now, perpetual futures complete a third wave of crypto-native innovation entering regulated finance.
Grayscale noted the progression in a post on X, pointing to the CFTC approval as a continuation of that trend. The firm described it as another step in DeFi platforms reaching US users over time.
Perpetual futures are coming to America.
On May 29, the CFTC approved the first perp futures contract on a US regulated venue. Another export from crypto to traditional finance, after stablecoins and tokenized assets.
A step toward DeFi platforms like Hyperliquid reaching US… pic.twitter.com/8ImdTsXrMk
— Grayscale (@Grayscale) June 2, 2026
This framing places the CFTC decision within a broader structural shift, not just a regulatory footnote. Traditional finance is increasingly drawing from a crypto playbook built over the last decade.
The approval also benefits regulated US platforms operating in prediction and derivatives markets. Kalshi and Polymarket stand to gain from clearer regulatory footing under this framework.
Additionally, the CFTC provided guidance allowing Coinbase Financial Markets to offer access through a Foreign Futures framework. That guidance further broadens the scope of who can participate under US oversight.
The timing of this approval aligns with a more open regulatory environment in Washington. Regulators have shifted toward engagement rather than enforcement in recent months.
As a result, market participants are now better positioned to structure compliant perpetual futures products. That shift creates room for more instruments to move from crypto-native venues into mainstream trading infrastructure.
How Perpetual Futures Work and Why They Matter
Unlike traditional futures, perpetual futures carry no expiration date and require no physical delivery. That structure makes them more flexible for traders seeking continuous exposure to an asset or price index.
They function similarly to total return swaps in traditional finance. The key difference is the funding rate mechanism that keeps contract prices anchored to the spot market.
The funding rate involves periodic payments exchanged between long and short position holders. When the futures price rises above spot, longs pay shorts to discourage further premium.
When it falls below, shorts pay longs to close the discount gap. The larger the price divergence, the bigger the payment in either direction.
This mechanism creates a built-in correction system without requiring contract settlement. It keeps market prices honest while allowing open-ended exposure for participants.
Traders can hold positions indefinitely, adjusting based on funding costs rather than expiry calendars. That flexibility has made perp futures the dominant derivative product across crypto markets globally.
The CFTC’s move now brings that structure into a compliant US framework for the first time. It sets a precedent for how crypto-native instruments can be adapted for regulated domestic venues.
Over time, it may also ease the path for DeFi-native platforms to extend services to US-based users. The approval is a structural development with long-term reach across both crypto and traditional finance markets.
The post CFTC Approves First Perpetual Futures Contract on a US Regulated Venue appeared first on Blockonomi.

TLDR
The EU pushed bidding for its AI gigafactory project from May to July.
The plan targets five AI data centers, each with one gigawatt of capacity.
Early interest has dropped from about 70 companies to roughly 10 expected bidders.
Only two of the five planned centers can receive funding before 2028.
SoftBank’s France data center plan is larger than the full EU gigafactory program.
Europe’s plan to build large AI data centers has run into delays before bidding begins. The project aims to create five gigafactory sites with major chip capacity across the bloc. However, funding gaps and delayed rules have reduced early interest from potential bidders.
Bidding Delay Shrinks Early Interest in EU AI Sites
According to a report by Bloomberg, the European Union originally planned to open bidding for the AI gigafactory project in May. Officials have now pushed the process to July after repeated delays. The planned facilities would each carry one gigawatt of power capacity. Each site would also use about 100,000 advanced chips for AI workloads.
The European Commission has also delayed the publication of selection criteria several times. That delay has made planning harder for groups preparing bids. The project first attracted interest from about 70 companies across Europe. That field has now narrowed to roughly 10 groups expected to submit proposals.
The plan also limits submissions to a maximum of one bid per country. Several groups now face questions over timing, scale, and available subsidies. Maria Nowicka, a Brussels-based researcher at Interface, pointed to repeated delays. “I think I’ve lost count,” she said, referring to the shifting timeline.

Funding Structure Limits Early Rollout
The EU plan carries a total expected cost of €20 billion. Less than half of that amount would come from public funding. The European Union would provide €4.1 billion in direct subsidies. Host member states would match that amount under the proposed funding model.
Private investors would cover the remaining cost for the five planned centers. However, the funding schedule has created a problem for near-term delivery. Only two of the five centers can receive funding before 2028. The remaining sites depend on the EU’s next budget cycle.
Some partners are reconsidering bids if the project shrinks from its original design. People familiar with the matter said at least two groups may step back. The delayed funding structure places pressure on the program’s launch schedule. It also raises questions about how fast Europe can add AI infrastructure.
Global Data Center Spending Outpaces EU Plan
The EU program faces a large spending gap when compared with private AI infrastructure deals. SoftBank recently announced up to €75 billion for data centers in France. That France’s plan alone exceeds the full EU gigafactory program by more than three times. It also shows the scale of private capital entering AI infrastructure.
Meta is also raising $13 billion for one data center in Texas. That single project stands close to the EU’s total direct subsidy plan. US utilities plan to spend $1.4 trillion on grid infrastructure for AI by 2030. American hyperscalers are also investing hundreds of billions of dollars annually in data centers.
The EU’s €4.1 billion subsidy would spread across five countries. That makes each site dependent on national support and private capital. The Commission has not yet published final bidding criteria for the gigafactory sites. The delayed criteria remain the next factual step before formal bids begin.
The post EU AI Data Centre Project Faces Delays as Funding Gaps Grow appeared first on Blockonomi.

TLDR
The U.S. Treasury sanctioned Nobitex, which it described as Iran’s largest digital asset exchange.
According to the Treasury, Nobitex handled more than half of Iranian digital asset inflows in 2025.
OFAC alleged that Nobitex supported sanctions evasion, stablecoin transfers, and IRGC-linked crypto transactions.
Treasury also designated Amir Hossein Rad and other Nobitex leaders in the sanctions action.
The action forms part of the Economic Fury campaign targeting Iran-linked financial and digital asset networks.
The U.S. Treasury moved against Iran’s largest digital asset exchange, Nobitex, in a new sanctions action on Tuesday. The action targets alleged terror finance, sanctions evasion, and regime-linked crypto flows.
Treasury Targets Nobitex and Iranian Crypto Exchanges
According to the Department of the Treasury, OFAC designated Nobitex under counterterrorism and Iran financial-sector authorities. The release also named three other Iranian digital asset exchanges in the action. Treasury described Nobitex as Iran’s largest digital asset exchange. It also alleged that the platform handled more than half of Iranian digital asset inflows in 2025.
According to the release, Nobitex supported payments tied to Iran’s sanctioned activities and IRGC-linked transactions. Treasury also linked some activity to wallets associated with IRGC-affiliated ransomware actors.
The department also designated Amir Hossein Rad, Nobitex’s chairman, co-founder, and former chief executive. Treasury stated that other Nobitex leaders and officials also faced sanctions. Treasury Secretary Scott Bessent connected the action to the Trump administration’s Iran policy. “Treasury will continue to follow the money,” Bessent stated in the release.
OFAC Alleges Stablecoin Use and Sanctions Evasion
According to the Treasury, Nobitex helped the Central Bank of Iran access hundreds of millions of dollars in stablecoins. The department alleged those funds supported efforts tied to the falling value of the Iranian rial. The release also claimed that Nobitex helped regime insiders reach international digital asset exchanges. Treasury framed that activity as part of sanctions evasion across several jurisdictions.
According to OFAC, Nobitex acted as a vehicle for sanctions evasion through its earlier Central Bank links. The department also alleged that the platform contributed to repression inside Iran. Treasury claimed the exchange enabled the Iranian government to conduct warrantless surveillance of civilians.
Additionally, the release stated that two Nobitex co-founders had close links to Khamenei’s family. The department cited Executive Order 13224, as amended, in its Nobitex designation. It also cited Executive Order 13902, which covers Iran’s financial sector.
Economic Fury Expands Pressure on Iran
The sanctions form part of the Economic Fury and maximum pressure policy. The department stated that the campaign targets Iran’s ability to generate, move, and repatriate funds. Treasury reported that its actions have blocked access to tens of billions of dollars for Iran-linked networks. It also referenced actions that froze nearly half a billion dollars in regime-linked cryptocurrency.
The release stated that Treasury has targeted shadow banking networks, oil channels, military supply networks, and proxy groups. It also warned foreign companies against supporting illicit Iranian commerce. The administration now targets both traditional sanctions evasion and digital asset exploitation. The department also raised the possibility of secondary sanctions on foreign financial institutions.
Treasury also warned about payments tied to passage through the Strait of Hormuz. It listed fiat currency, digital assets, offsets, swaps, and in-kind payments among possible sanctions risks. On May 27, the Treasury designated Iran’s so-called Persian Gulf Strait Authority. The department described it as an IRGC-linked scheme tied to shipping through the Strait of Hormuz.
The release also stated that Nobitex played a role after U.S. combat operations in Iran began. Treasury alleged that the platform helped protect and move assets despite internet blackouts. According to OFAC, the action targets persons who materially assisted or supported the IRGC. The department also stated that Nobitex operated in Iran’s financial sector.
The post U.S. Treasury Sanctions Iran’s Nobitex Over Alleged Crypto Finance Links appeared first on Blockonomi.

TLDR
Palo Alto Networks shares rose 10% after the company beat fiscal third-quarter estimates.
Revenue reached $3.00 billion, above Wall Street’s $2.94 billion expectation.
Adjusted earnings came in at 85 cents per share, beating the 80-cent estimate.
Palo Alto raised its fourth-quarter and full-year revenue guidance after the earnings beat.
The company’s AI-focused acquisitions support its push into enterprise and agent security.
Palo Alto Networks shares rose 10% after the company beat Wall Street’s fiscal third-quarter estimates. The cybersecurity firm reported stronger revenue and adjusted earnings as AI-related threats lifted demand for security tools. The company also issued a stronger fourth-quarter outlook and raised its full-year revenue forecast.
Palo Alto Beats Wall Street Estimates
Palo Alto reported adjusted earnings of 85 cents per share for the fiscal third quarter. Analysts tracked by LSEG had expected adjusted earnings of 80 cents per share. Revenue reached $3.00 billion, topping the $2.94 billion estimate. The company recorded 31% revenue growth from the same period last year.
The quarter included $388 million from the CyberArk and Chronosphere acquisitions. These additions helped expand Palo Alto’s reported revenue base during the period. Palo Alto also reported a net loss of $177 million. That compares with the net income of $262 million in the year-earlier quarter.
The loss came to 22 cents per share under standard accounting. A year earlier, Palo Alto earned 37 cents per share. Shares rose 10% after the report as investors reacted to the earnings beat. The move followed weaker guidance in February that had lowered expectations.
Stronger Outlook Follows Rising AI Security Demand
Palo Alto issued fourth-quarter revenue guidance above Wall Street expectations. The company expects revenue between $3.35 billion and $3.36 billion. Analysts had expected fourth-quarter revenue of $3.28 billion. Palo Alto also lifted its full-year revenue forecast after the third-quarter beat.
The company now expects full-year revenue between $11.42 billion and $11.43 billion. The updated range came as AI-related security needs continued to support demand. CEO Nikesh Arora linked the demand environment to new AI threats. “The latest advancements at the AI frontier have increased the level of urgency around cybersecurity,” Arora stated.
He added that AI had reshaped the cybersecurity industry’s direction for the coming years. The company has also leaned into acquisitions to strengthen its product suite. Palo Alto shares have climbed more than 60% this year. The stock has gained over 80% during the current quarter.
Acquisitions Expand Palo Alto’s AI Security Push
As it was reported by Blockonomi, analysts project quarterly sales of $2.9 billion. They also expect adjusted earnings of 80 cents per share. Those projections reflect acquisition expenses and dilution from the CyberArk transaction. The final results came above those estimates on both revenue and adjusted earnings.
Palo Alto holds a market capitalization near $245 billion. Its 50-day moving average stands at $195.20, while its 200-day average stands at $184.31. The company has completed five AI-focused acquisitions over the past twelve months. The largest deal involved CyberArk, an identity security specialist, bought for about $25 billion.
CyberArk supports Palo Alto’s push into protecting AI agents inside company networks. These agents need permissions across email, documents, browsers, and other enterprise systems. Those permissions can create access risks without strong identity controls. Prompt injection attacks can also target AI systems connected to workplace tools.
Palo Alto also acquired KOI Security, Chronosphere, and Protect AI. The company also joined Anthropic’s Project Glasswing cybersecurity initiative. Anthropic opened its Mythos model testing program to 150 more partners on Tuesday. Palo Alto joined Project Glasswing as an early participant.
The post Palo Alto Beats Q3 Estimates as AI Threats Drive Demand appeared first on Blockonomi.

TLDR
Microsoft launched MAI-Code-1 to generate source code from written prompts.
MAI-Code-1 is available through GitHub Copilot and Visual Studio Code.
Microsoft introduced MAI-Thinking-1 as a reasoning model focused on lower token costs.
MAI-Thinking-1 is available in private preview through Microsoft Foundry.
Microsoft is building more in-house AI models while still partnering with OpenAI and Anthropic.
Microsoft used its Build conference in San Francisco to introduce new in-house AI models for developers. The company launched MAI-Code-1 for software generation and MAI-Thinking-1 for reasoning tasks.
Microsoft Enters AI Coding With MAI-Code-1
MAI-Code-1 turns written prompts into source code for applications and websites. Microsoft introduced the model as demand grows for text-based software development tools. Developers now use natural language prompts to build code, interfaces, and basic products. This practice has gained attention under the “vibe coding” label.
Microsoft placed MAI-Code-1 inside GitHub Copilot and Visual Studio Code. That gives the coding model direct access to the company’s developer user base. Kyle Daigle, Microsoft’s developer marketing chief and GitHub operating chief, described the model as “inference ultra-efficient.”
The company used that point to highlight lower operating demands. The new model also gives Microsoft more control over AI coding costs. The company can run its models on Azure instead of paying outside model providers.
MAI-Thinking-1 Targets Reasoning at Lower Token Costs
Microsoft also introduced MAI-Thinking-1, a reasoning model built for performance and cost control. The company positioned the model as medium-sized and efficient. Daigle wrote that MAI-Thinking-1 was “built for high efficiency and performance.” He added that it runs “at a low token cost.”
Developers use tokens to pay for AI model input and output. Therefore, lower token costs can reduce spending for companies that run large workloads. MAI-Thinking-1 has entered private preview through Microsoft Foundry.
The service helps customers integrate AI models into software applications. Customers can register interest before Microsoft makes the reasoning model widely available. The company has not provided a full release date for broader access.
Microsoft Builds More of Its Own AI Stack
Microsoft has invested heavily in leading AI companies while building its own systems. The company committed $13 billion to OpenAI and $5 billion to Anthropic. It also offers OpenAI and Anthropic models through Azure cloud services. However, its new models give developers another path inside Microsoft’s own ecosystem.
The company’s strategy comes as OpenAI and Anthropic pursue public market plans. As we had reported, Anthropic confidentially filed for an initial public offering on Monday. OpenAI has also explored a possible offering this year, according to the report. Both companies have recorded strong growth during the current AI cycle.
Microsoft faces competition from Google, which released Gemini 3.5 Flash in May. Google designed that model for coding and other tasks inside its own data centers. At Build, Microsoft also announced updated cloud models for speech recognition and synthetic voice generation. It also revealed image generation updates and small Aion models for Windows PCs.
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TLDR:
BitGo Bank & Trust is OCC-chartered, providing the regulated custodial layer for the new institutional DeFi platform.
Concrete’s vault architecture uses synthetic asset representations to reduce bridge risk in onchain strategies.
Institutions can access vetted onchain vault strategies without moving assets out of qualified custody.
Both firms plan to expand the platform to support more assets, strategies, and institutional use cases ahead.
BitGo Bank & Trust and Concrete have announced a strategic partnership targeting institutional investors in digital assets.
The collaboration aims to resolve a long-standing challenge: accessing onchain returns while keeping assets in regulated custody.
Together, the two firms are piloting a platform that combines Concrete’s vault strategies with BitGo’s OCC-chartered trust infrastructure.
This partnership targets treasury operators and asset managers managing idle balance sheet capital.
Bridging Qualified Custody and Onchain Strategies
Institutions have historically faced a clear trade-off in digital asset management. Keeping assets in qualified custody often meant forgoing onchain yield opportunities.
This new platform is designed to close that gap for regulated clients. Assets remain held in BitGo Bank & Trust custodial accounts throughout the process.
BitGo Bank & Trust is a federally-chartered, non-depository national trust bank. It operates under OCC oversight, meeting strict capital, audit, and compliance standards.
These controls form the regulatory foundation of the partnership. The setup is intended to satisfy institutional governance requirements from the outset.
Concrete contributes its vault architecture to the platform. The system uses synthetic representations of digital assets to access onchain strategies.
This approach is designed to reduce bridge risk compared to traditional DeFi models. Clients can monitor performance through a dedicated dashboard provided by Concrete.
Nicholas Roberts-Huntley, CEO of Blueprint Finance, addressed the core problem the partnership solves. “For too long, institutions have been forced to choose between security and optimized asset growth,” he said.
He added that the program creates a meaningful path for institutions to put digital assets to work. Concrete’s vault strategies serve as the onchain layer, with BitGo’s custody infrastructure as the foundation.
Expanding the Institutional DeFi Framework
The initial pilot focuses on a defined set of vault strategies operated by Concrete. Each vault aligns to a distinct onchain asset growth approach.
The structure supports governance workflows, compliance reporting, and policy enforcement. These features are central to institutional adoption of DeFi infrastructure.
Mike Belshe, CEO and Co-founder of BitGo, spoke directly to what institutions are demanding. “Institutions are looking for ways to access digital asset opportunities without compromising the controls, oversight, and custody standards they require,” he stated.
He noted that the collaboration is designed to give clients access to onchain strategies within BitGo’s custody infrastructure. The goal is to help clients pursue new opportunities while maintaining governance and compliance standards.
Both companies plan to expand the platform over time. Additional assets, strategies, and institutional use cases are expected to follow.
The goal is to support growing demand for compliant DeFi infrastructure. This expansion will build on the existing vault framework already in development.
The partnership reflects a broader shift in how institutions are approaching digital assets. Regulated access models are gaining traction across the industry.
As BitGo noted on X, the result is a regulated foundation for treasury operators and asset managers seeking to make balance sheet capital more productive. The platform is now in its pilot phase, with wider availability expected ahead.

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Key Highlights
Hewlett Packard Enterprise stock rocketed over 25% following a strong earnings report and upgraded guidance driven by robust AI server sales.
Marvell Technology stock exploded nearly 30% after Nvidia’s CEO Jensen Huang indicated the firm has potential to reach trillion-dollar valuation.
Nvidia maintained its position near all-time highs, continuing its leadership role in AI chip manufacturing and infrastructure development.
Super Micro Computer gained ground in tandem with HPE as market participants recognized both companies as major AI server demand winners.
Major indices including the S&P 500 and Dow Jones pushed toward record territory, propelled by strength in AI and chip stocks.
Tuesday’s trading session delivered impressive gains for Wall Street, with artificial intelligence stocks commanding center stage. The spotlight fell on three major players: Hewlett Packard Enterprise, Marvell Technology, and Nvidia. Together, these companies illustrated a unified narrative — capital flowing into AI infrastructure continues to intensify, and market participants are eager to participate.
Hewlett Packard Enterprise Delivers Outstanding Results, Stock Rockets 25%
Hewlett Packard Enterprise emerged as the session’s standout performer.
The enterprise technology giant unveiled quarterly figures that exceeded Wall Street’s projections for both top-line revenue and bottom-line earnings. Perhaps more significantly, company leadership elevated its future guidance, citing strengthening demand for AI server solutions from both enterprise clients and major cloud infrastructure providers.
Market participants wasted no time reacting. The stock catapulted more than 25% following the announcement.
HPE’s AI infrastructure division has evolved into its primary growth catalyst. Company executives noted that purchase orders for AI-focused hardware continued gaining momentum throughout the reporting period, suggesting corporate investment in artificial intelligence capabilities shows no signs of decelerating.
The positive sentiment extended beyond HPE itself. Dell Technologies and Super Micro Computer both experienced upward momentum as market watchers interpreted HPE’s performance as validation for the broader AI hardware ecosystem.
Super Micro has emerged as one of the most prominent beneficiaries of the AI revolution over recent years. The company’s capability to rapidly deploy tailored Nvidia-equipped server configurations has enabled it to capture significant contracts from hyperscale cloud operators and major corporate clients.
Marvell Technology Explodes 30% Following Huang’s Bullish Assessment
Marvell Technology posted even more dramatic percentage gains.
Shares skyrocketed approximately 30% following reports that Nvidia’s CEO Jensen Huang suggested Marvell possesses the potential to eventually achieve trillion-dollar company status. This single endorsement proved sufficient to spark renewed investor enthusiasm surrounding the semiconductor manufacturer.
Marvell specializes in producing networking semiconductors and customized AI processing chips utilized by leading cloud infrastructure providers. The company’s revenue has expanded dramatically as massive data center operators scale their artificial intelligence capabilities.
Market participants had already positioned Marvell as a strategic long-term beneficiary of AI adoption. Huang’s public remarks provided that investment thesis with influential validation from an industry authority.
Meanwhile, Nvidia itself sustained trading activity near its peak valuations. The graphics chip pioneer recently introduced its RTX Spark AI PC chip architecture and maintains its position as the dominant supplier of AI processing hardware for data centers globally.
Numerous market analysts now characterize Nvidia as transcending traditional semiconductor company classification. Its integrated approach combining hardware, software, and comprehensive AI frameworks has transformed it into the foundational platform supporting significant portions of the worldwide AI infrastructure.
Benchmark Indices Advance Toward Historical Peaks
The overall market captured momentum from this widespread optimism.
The S&P 500 and Dow Jones Industrial Average both climbed toward unprecedented levels by market close. Semiconductor manufacturers ranked among the top-performing sectors across the entire marketplace.
Certain market observers expressed concern regarding potential overextension in AI-related stock valuations. However, optimistic investors referenced robust corporate earnings and accelerating infrastructure investment as rational support for prevailing price levels.
Currently, market sentiment delivers an unambiguous signal. Capital allocation toward AI infrastructure continues expanding, companies positioned within this trend are exceeding performance expectations, and investors demonstrate willingness to compensate for exposure to this growth trajectory.
The post AI Stocks Explode: Hewlett Packard Enterprise (HPE) Rockets 25%, Marvell Technology (MRVL) Jumps 30% appeared first on Blockonomi.

Key Highlights
Coherent Corp (COHR) achieved a record high of $427.29, climbing approximately 17.7% during Tuesday’s session, fueled by NVIDIA CEO Jensen Huang’s optimistic outlook on optical interconnects for AI infrastructure.
While Marvell Technology (MRVL) captured widespread attention with its 25% surge, Coherent — the actual manufacturer of optical transceivers — silently reached its own historic peak.
The company delivered Q3 fiscal 2026 sales of $1.81 billion, marking a 21% year-over-year increase, with book-to-bill ratios for data center solutions surpassing 4x in the latest quarters.
Early in 2026, NVIDIA committed a $2 billion strategic equity stake in Coherent, coupled with long-term supply agreements.
Year-to-date, COHR shares have climbed about 126%, and have rallied approximately 455% from their 52-week bottom of $76.88.
Coherent Corp (COHR) emerged as Tuesday’s unexpected winner. As investors rushed into Marvell Technology following NVIDIA CEO Jensen Huang’s endorsement of optical interconnect technology, Coherent — the firm actually producing these transceivers — soared to an unprecedented high of $427.29, gaining nearly 18%.
The rally occurred on heightened trading activity. COHR finished the day with a 17.74% advance, per Benzinga Pro data, propelling its valuation beyond $83 billion.
Huang’s statements came during a prominent public appearance where he declared that data centers are undergoing a transformation centered on “optical interconnects.” His remarks triggered significant movement across AI infrastructure equities, with Marvell soaring 25% while Coherent followed closely.
Marvell, commanding a market capitalization near $241 billion, remains a familiar holding among AI-focused portfolios. Coherent, valued at approximately $65.76 billion, operates somewhat below the mainstream radar — despite possessing equally significant revenue ties to AI optical demand.
This disparity in market attention deserves examination. Marvell designs specialized silicon and optical networking semiconductors. Coherent produces the tangible optical transceivers and hardware components installed within data center infrastructure. When Huang describes data centers being rewired around optical interconnects, this narrative directly benefits Coherent as well.
Financial Performance Driving the Surge
Coherent’s third fiscal quarter, which concluded in March 2026, generated $1.81 billion in revenue, representing a 21% year-over-year expansion. The data center division has served as the primary growth driver, propelled by 800G transceiver deliveries and initial production volumes of next-generation 1.6T offerings.
Book-to-bill metrics for data center products have consistently exceeded 4x during recent reporting periods, indicating a robust order pipeline and dependable future revenue streams.
Earlier this year, NVIDIA executed a $2 billion strategic equity position in Coherent, accompanied by multi-year procurement agreements. This transaction, perhaps more than any other development, confirmed the company’s critical role in next-wave AI optical technology.
For the nine-month period ending March 2026, Coherent generated $5.07 billion in total revenue. Profit margins have shown improvement as the organization expands its indium phosphide and silicon photonics production capabilities. The stock secured inclusion in the S&P 500 index earlier this year, attracting additional institutional capital from passive investment vehicles.
Wall Street Outlook and Historical Performance
Analyst sentiment has grown increasingly favorable toward the stock, though price targets have lagged the rapid appreciation. The three latest analyst assessments — issued by TD Cowen, Rosenblatt, and Stifel during May — show an average target of $410.67, which currently trails the stock’s market price.
The 52-week trading range illustrates the dramatic transformation. COHR traded at $76.88 twelve months ago. Tuesday’s close approaching $427 represents an impressive climb of roughly 455% from that low point.
Since the beginning of 2026, shares have advanced approximately 126%, substantially outpacing the S&P 500’s roughly 10.8% gain during the identical timeframe. Over just the past thirty days, COHR has appreciated around 22.9%, compared to a 5.5% increase in the benchmark index.
The upcoming catalyst will likely emerge from corporate guidance during the next quarterly report, where market participants will scrutinize hyperscaler transceiver shipment figures and any developments regarding the NVIDIA collaboration.
The post Coherent (COHR) Stock Reaches Record Peak Amid AI Optical Revolution appeared first on Blockonomi.

Key Takeaways
Berkshire Hathaway committed to purchasing $10 billion worth of Alphabet shares through a private placement, securing more than 6% below Monday’s market close
Alphabet’s massive $80 billion capital raise caught Wall Street by surprise
Both Alphabet Class A (GOOGL) and Class C (GOOG) shares declined more than 3% following the announcement
Berkshire’s total Alphabet position now stands at approximately $31 billion, rivaling Coca-Cola as the conglomerate’s third-biggest holding
The investment by CEO Greg Abel has triggered mixed reactions — supporters applaud the strategic move while critics point to Alphabet’s elevated ~25x forward earnings multiple
Warren Buffett’s Berkshire Hathaway is committing an additional $10 billion to Alphabet, significantly expanding a position it initiated less than a year ago.
The tech giant agreed to sell Berkshire $5 billion worth of Class A shares priced at $351.81 each, along with $5 billion in Class C shares at $348.20 apiece. These figures mark discounts exceeding 6% compared to Monday’s market close.
This transaction forms one piece of Alphabet’s broader $80 billion equity offering unveiled after Monday’s trading session. The search and cloud computing giant stated proceeds will fund capital investments, particularly expanding its artificial intelligence computing capabilities.
Alphabet’s stock retreated following the disclosure. Trading around midday Tuesday showed GOOGL declining approximately 2% to $368.93, while GOOG slipped roughly 1.9% to $365.35.
The massive capital raise surprised market participants. During Alphabet’s April quarterly earnings presentation, management gave no indication of pursuing such a substantial equity offering, leading most analysts to assume continued reliance on operating cash flow and debt markets to support its $180–$190 billion annual capital spending program.
Expanding Footprint
Berkshire initially revealed its Alphabet investment during Q3 2025, acquiring approximately 17.8 million shares. The company has steadily increased that position over the subsequent two quarters. Following this latest transaction, Berkshire’s Alphabet holdings will total roughly $31 billion — comprising about 58 million shares purchased since 2025, plus approximately 28 million newly issued shares from this deal.
This positions the Alphabet investment nearly equal to Berkshire’s legendary Coca-Cola stake, which ranks third in the portfolio. Apple maintains the top spot at over $60 billion, with American Express second at approximately $47 billion.
CEO Greg Abel remains early in his tenure managing Berkshire’s investment decisions, making this transaction a closely watched indicator of his strategy. The Alphabet investment arrived just days following Berkshire’s announcement to purchase homebuilder Taylor Morrison for $6.8 billion in cash.
With nearly $380 billion in cash reserves as of March 31, the $10 billion Alphabet investment represents a modest deployment of Berkshire’s massive liquidity position.
Valuation Questions Emerge
The investment hasn’t received universal praise. Alphabet currently commands approximately 25 times estimated 2026 earnings — significantly above the roughly 15x earnings multiple Berkshire traditionally targets.
Skeptics on X highlighted the contradiction of Berkshire essentially financing Alphabet’s infrastructure spending through equity participation, with one observer commenting: “It was the top when Berkshire funded Google capex via equity.”
Proponents view the situation more favorably. Five Points Capital remarked: “Between the Taylor Morrison acquisition and the Alphabet deal, I really like the direction they’re going. The massive cash pile could prove advantageous at a time when the largest, most profitable companies in the world need to raise money.”
Alphabet shares have approximately doubled over the past twelve months, indicating Berkshire is entering after substantial appreciation — a departure from the value-oriented bargain hunting strategy Buffett pioneered.
At Tuesday’s midday trading levels, Berkshire’s $10 billion investment at the private placement pricing still delivers a substantial discount compared to public market prices.
The post Berkshire Hathaway Doubles Down on Alphabet (GOOGL) with $10B Investment at Discounted Price appeared first on Blockonomi.

TLDR
Gold accounted for 27% of global central bank reserves at the end of 2025.
US Treasuries fell to 22% of total official reserves, according to the ECB report.
The ECB linked the shift mainly to gold’s sharp price rally in 2024 and 2025.
Sanctions risk and geopolitical tensions pushed central banks to reassess reserve exposure.
The ECB identified Tether as a larger gold buyer than any central bank in 2025.
The balance of global reserves has shifted as central banks place a larger share of holdings in gold. A new European Central Bank report shows gold now ranks ahead of US Treasuries in total official reserves. The change reflects higher gold prices, sanctions concerns, and reserve managers’ growing focus on assets outside dollar systems.
Gold Moves Ahead in Reserve Rankings
The ECB report found that gold made up 27% of total official foreign reserves at the end of 2025. That total includes both foreign exchange holdings and gold held by central banks worldwide. US Treasuries accounted for 22% of total reserves at the same point, according to the report. Euro-linked assets held steady at 15%, leaving the euro behind both gold and US debt.
The shift marks a major change in the structure of central bank reserves. US government debt had long served as the main reserve asset for liquidity and stability. Gold’s share stood at 20% one year earlier, before a sharp increase in its reserve weight. Meanwhile, US Treasuries declined from 25% to 22% during the same period.
The ECB linked much of the change to gold’s price rally rather than heavy new buying. It noted that gold prices rose about 60% in 2025 after rising 30% in 2024. Using 2023 prices, US Treasuries would still lead official reserves at 26%. Under the same measure, gold would account for 16%, based on the ECB’s calculation.
Sanctions Risk Drives Reserve Debate
Central banks have placed more focus on reserve safety since Russia’s invasion of Ukraine. The US and its allies froze parts of Russia’s dollar-based reserves after the war began. That action pushed several governments to review exposure to assets controlled through foreign legal systems. As a result, gold gained appeal because it has no issuer.
ECB President Christine Lagarde linked the trend to global political stress. “Geopolitical tensions continue to drive strong demand for gold among central banks,” Lagarde wrote. Gold also offers reserve managers a way to diversify holdings outside major currencies. However, the ECB made clear that central banks also face limits when holding gold.
The report noted that gold does not pay interest and can show high price swings. Physical gold also creates storage costs when central banks hold it directly. The ECB added that the gold supply cannot adjust quickly to global liquidity needs. This makes gold different from fiat reserve assets issued through large financial systems.
Tether Emerges as Large Gold Buyer
The ECB report also tracked gold buying beyond central banks. It identified Tether as a larger gold purchaser in 2025 than any central bank. Tether remains the largest stablecoin issuer and holds reserves for its dollar-pegged token operations. Its gold purchases placed a major crypto-linked company beside state reserve managers.
Central bank gold buyers in 2025 included Poland, Kazakhstan, Brazil, China, and Turkey. The ECB connected these purchases to diversification needs and geopolitical risk hedging. The same report focused mainly on the euro’s international position. It found that the euro remained second behind the US dollar in global currency use.
International debt issuance in euros reached its highest level since the currency began. The euro also led the green and sustainable international bond market. The ECB recorded safe-haven behavior for the euro during several risk-off events in 2025 and early 2026. The report placed this finding alongside the reserve shift toward gold.
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Key Highlights
Ethena integrates Anchorage Atlas for institutional lending security
Atlas platform introduces custody oversight to Ethena’s credit operations
Partnership enables collateral monitoring for Ethena’s lending expansion
Real-time risk management tools integrated into Ethena loan structure
Institutional credit scaling prioritized through Anchorage collaboration
Ethena has formed a strategic alliance with Anchorage Digital to enhance its institutional crypto lending capabilities through advanced collateral oversight. This collaboration positions Anchorage Digital’s Atlas infrastructure as the core component of Ethena’s credit operations. The arrangement maintains borrower assets within regulated custody frameworks while enabling accelerated lending activities.
Atlas Platform Introduces Custody Framework to Ethena Operations
[[LINK_START_0]]Anchorage Digital[[LINK_END_0]] assumes the collateral management role for Ethena’s institutional lending services. Using Atlas Collateral Management technology, the firm provides continuous monitoring of collateral positions and loan-to-value ratios. This enables Ethena to facilitate lending arrangements without requiring full onchain collateral transfers.
The infrastructure automates margin call procedures and implements programmatic responses when loan parameters shift. This framework delivers crypto-native capital access to institutions while preserving institutional custody requirements. Furthermore, it minimizes operational exposure associated with direct collateral transfers across decentralized finance protocols.
Anchorage maintains an established presence within Ethena’s institutional offerings. Anchorage Digital Bank functions as the U.S. issuer for USDtb, Ethena’s institutional stablecoin product. This Atlas integration represents an expansion of the existing collaborative framework between the organizations.
Ethena Pivots Toward Overcollateralized Institutional Credit
[[LINK_START_1]]Ethena[[LINK_END_1]] initiated its transition into overcollateralized institutional credit markets during April. This strategic pivot accompanied a comprehensive restructuring of USDe reserve composition. The initiative aimed to decrease the protocol’s dependence on perpetual futures contracts for maintaining dollar parity.
USDe employs a basis trading mechanism to preserve its dollar peg. This framework depends on perpetual futures market positions and associated funding rates. Nevertheless, Ethena has begun incorporating diversified reserve strategies and lending infrastructure to accommodate institutional client requirements.
The Anchorage collaboration supports this reserve diversification objective. Ethena now connects institutional borrowers with capital sources while maintaining collateral within secure custody environments. This creates a robust infrastructure for compliant and enterprise-scale lending operations.
Anchorage Advances Institutional Crypto Credit Infrastructure
Anchorage previously deployed Atlas to facilitate institutional access to crypto borrowing markets. During January, the firm established a partnership with Spark to enable onchain lending through offchain collateral. This structure permitted participants to access liquidity while remaining within Anchorage’s custody environment.
The Ethena collaboration mirrors this institutional infrastructure approach. It merges regulated custody services, collateral supervision, and automated lending operations within a unified platform. Additionally, it provides protocols with pathways to accommodate borrowers demanding enhanced compliance controls.
Institutional crypto lending markets increasingly prioritize secured and managed collateral frameworks. Ethena targets this segment with solutions designed for sophisticated and high-volume clients. Simultaneously, Anchorage promotes Atlas as an integration layer connecting decentralized finance efficiency with institutional operational requirements.

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Key Takeaways
Commerce Department will acquire $100 million in D-Wave common stock through CHIPS and Science Act funding
Federal investment requires meeting specific R&D benchmarks: prototype development, quantum interconnect systems, and advanced fabrication methods
CEO Alan Baratz revealed plans to potentially utilize IBM’s Anderon quantum manufacturing facility for processor production
Rosenblatt maintains Buy recommendation with $43 target; Stifel holds Buy rating at $35
First quarter 2026 earnings showed -$0.05 per share loss, surpassing -$0.08 consensus, while revenue of $2.9M fell short of $4.14M projections
D-Wave Quantum hosted its first-ever investor day presentation Monday at the New York Stock Exchange, where federal financing took center stage over technological roadmaps.
Currently trading near $29.61, D-Wave represents one of nine enterprises receiving capital from the Trump administration’s $2 billion quantum technology commitment. Through its Commerce Department agreement, D-Wave plans to issue $100 million in common shares directly to the federal government — effectively making Washington a shareholder in the quantum computing firm.
Shares have delivered approximately 70% returns over the trailing twelve months. Wall Street analysts at Rosenblatt and Stifel both recommend buying QBTS, establishing price objectives of $43 and $35 respectively.
Federal Investment Requires Performance Milestones
The $100 million capital infusion won’t arrive as an immediate lump sum payment. Chief Development Officer Trevor Lanting explained that D-Wave’s funding depends on achieving specific research and development benchmarks, encompassing prototype systems, quantum interconnection technology, advanced wiring solutions, and innovative fabrication methodologies.
“We’re looking at sequential tool installations, fabrication process stages, and prototype deliveries,” Lanting explained. The structure is milestone-dependent rather than upfront capital.
CEO Alan Baratz characterized the agreement as confirmation of D-Wave’s two-pronged approach — maintaining quantum annealing platforms designed for optimization challenges alongside emerging gate-model architectures targeting wider commercial applications.
Potential IBM Manufacturing Partnership Emerges
Baratz generated considerable attention when he disclosed D-Wave’s interest in leveraging IBM’s forthcoming Anderon semiconductor fabrication facility for quantum processor manufacturing.
“The moment I learned about the announcement, I immediately contacted Trevor asking if we could access the IBM foundry,” Baratz shared with attendees.
Anderon, supported by $1 billion contributions from both the Commerce Department and IBM, is being developed as an accessible quantum chip production center. IBM’s Jay Gambetta positioned the company as a “foundational customer,” signaling availability for external partners. Baratz confirmed D-Wave would “definitely” pursue this option if technical requirements align.
The quantum computing company also presented its extended development timeline: scaling to 100,000 qubits for annealing platforms, plus a gate-model trajectory reaching 100 logical qubits by 2032. Immediate objectives include launching a 17-physical-qubit platform in 2026 followed by a 49-physical-qubit system in 2027.
D-Wave disclosed 26 public-sector customers accumulated during the previous 18 months alongside $588 million in available liquidity. The company is transitioning its business model from quantum computing-as-a-service subscriptions toward direct system purchases, which leadership interprets as evidence of market maturation.
Financially, first quarter 2026 results showed a -$0.05 per share loss, outperforming the -$0.08 Wall Street consensus by 37.5%. Revenue totaled $2.9 million, falling approximately 30% below the $4.14 million analyst forecast. Twelve-month trailing revenue stands at $12.44 million while the company continues operating at a loss.
Defense sector engagement has accelerated significantly. Baratz attributed a partnership with Anduril Industries and Davidson Technologies — unveiled at D-Wave’s customer conference in January — as the catalyst for heightened federal attention. The firm now maintains “a substantial opportunity pipeline spanning multiple government agencies, predominantly within the Department of Defense.”
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Key Highlights
FedEx Freight launched as an independent publicly traded entity on Monday following its separation from FedEx
CEO John Smith believes standalone status enables more focused capital allocation for LTL market expansion
Operating margin goal set at 15% by 2029, climbing from approximately 12% currently — with Smith indicating further upside potential
The carrier has conducted autonomous vehicle trials on Dallas-Houston and Dallas-El Paso corridors for 24 months
Smith confirms autonomous driving technology is deployment-ready, with regulatory approval remaining the primary obstacle
FedEx Freight commenced trading as an independent public entity on Monday, with CEO John Smith marking the occasion by ringing the opening bell at the New York Stock Exchange. Trading under ticker symbol FDXF, shares finished the inaugural session down 6.76%.
The separation establishes the leading North American less-than-truckload carrier as its own entity, freed from its former parent FedEx. The freight division generated $8.7 billion in yearly revenue — representing approximately 10% of FedEx’s total $90 billion in sales. According to Smith, the business unit frequently received lower priority within the broader corporate structure.
“The autonomy we now possess, particularly regarding capital deployment and investment decisions — that’s what will enable us to surpass our competition,” Smith explained during an appearance on CNBC’s Mad Money.
Ambitious Profitability Goals Established
The newly independent company has established a definitive financial objective: achieving a 15% operating margin by 2029, climbing from its current level near 12%. Smith emphasized that this target represents a floor rather than a limit.
The path to improved profitability involves investments in customer-facing digital platforms, expansion of its direct sales organization, and operational efficiency improvements. Smith noted these priorities were more challenging to execute within a $90 billion corporate structure.
Addressing economic headwinds, Smith expressed confidence in the company’s ability to capture additional market share regardless of macroeconomic conditions. “Our strategic approach positions us for growth even during economic downturns,” he stated.
Key rivals in the LTL sector include Old Dominion Freight Line, XPO, and ArcBest. On Monday, XPO shares declined 2.02% while ArcBest gained 0.70%.
Self-Driving Fleet: Tech Proven, Awaiting Policy Green Light
Among the most notable aspects of Smith’s Monday media appearances was his commentary on autonomous vehicle technology.
FedEx has operated autonomous trial shipments on routes between Dallas and Houston as well as Dallas and El Paso over the previous two years. While safety operators remain onboard, Smith indicates their intervention is rarely necessary.
“Human intervention occurs less than 0.1% of the time,” he reported.
Smith expressed strong confidence in the technological capabilities. According to him, regulatory and public acceptance barriers — rather than technical limitations — are preventing broader deployment.
“Public acceptance is nowhere near the level required for an 80,000-pound vehicle traveling at highway speeds without a human operator in the cab,” he observed.
Regarding electric vehicles, Smith adopted a more measured stance. FedEx Freight operates primarily Class 8 tractors, and he indicated no current electric option can support 600-mile journeys. The company is prioritizing compressed natural gas for long-haul operations, while deploying electric power for forklifts and yard tractors where feasible.
Smith highlighted an additional advantage from the autonomous testing initiative: enhanced safety features throughout the entire fleet, encompassing collision mitigation, lane departure alerts, and rollover prevention systems.
Addressing fuel economics, Smith confirmed FedEx Freight will maintain its fuel surcharge structure, which is built into customer agreements. He noted clients recognize these costs given the company logs 1.3 billion annual miles.
Smith joined FedEx in 2000 and previously served as COO of FedEx Ground operations across the United States and Canada before assuming the FedEx Freight CEO role last May.
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Key Highlights
Movement deploys licensed infrastructure to enable global stablecoin transactions
New payment channels in US, EU, and Canada focus on remittance corridors
Network foundation repurchases significant token allocation from early investors
Platform bridges traditional banking systems with blockchain settlement technology
Infrastructure aims to serve financially underserved populations in developing nations
Movement has obtained regulatory approval for licensed payment infrastructure spanning the United States, European Union, and Canada. This strategic expansion reinforces the network’s commitment to stablecoin-based settlement systems, international money transfers, and dollar-denominated savings solutions. The initiative specifically addresses markets where conventional financial systems impose significant friction and expense.
Addressing the Global Remittance Challenge
The network intends to bridge licensed financial infrastructure with blockchain-based settlement mechanisms to accelerate international money transfers. Movement now prioritizes remittance services, corporate treasury solutions, and banking products designed for populations with limited access to financial services. This represents a deliberate pivot from broad blockchain growth initiatives toward functional payment infrastructure.
The platform argues that existing financial networks continue to impose burdensome costs and delays on users worldwide. World Bank data indicates that remittance flows to developing and middle-income nations totaled $685 billion throughout 2024. Despite this massive volume, senders faced average transaction fees of 6.36% for cross-border transfers.
Movement seeks to eliminate these inefficiencies by leveraging stablecoin settlement technology combined with regulated partner channels. The infrastructure enables financial technology companies and digital banks to offer payment services, dollar-based savings accounts, and interest-bearing products. Importantly, this approach minimizes dependence on traditional correspondent banking relationships and prefunded nostro accounts.
Foundation Executes Strategic Token Buyback
The Movement Network Foundation recently acquired approximately 19% of tokens that had been distributed to initial backers. This repurchase represented roughly 4.2% of the entire token circulation. The foundation characterized this action as aligned with its commitment to token holders and payments infrastructure development.
The company has not publicly identified the specific regulated entities providing access to its payment channels. However, it confirmed that the infrastructure encompasses significant markets throughout North America and the European region. This access creates pathways between conventional banking infrastructure and decentralized settlement networks.
Movement has reinforced this approach through multiple ecosystem collaborations. KAST has onboarded more than 18,000 verified participants spanning over 160 nations using Movement-enabled products. Additionally, Circle deployed USDCx on the platform as a stablecoin with one-to-one backing by native USDC reserves.
Stablecoins Emerge as Critical Financial Infrastructure
Digital dollar tokens have become foundational to numerous blockchain expansion initiatives. Movement aligns with ecosystems including Solana, Polygon, and Aptos in emphasizing payments and financial services infrastructure. This shift positions blockchain platforms in direct competition with established settlement and money transfer networks.
The platform has cultivated partnerships across savings products, yield generation, digital wallets, and tokenized tangible assets. Sorted Wallet, Yuzu Money, Oro, Avant Protocol, and Zoth contribute various components to this technology foundation. These solutions encompass mobile-accessible wallets, dollar-based returns, precious metal storage, and institutional-quality real-world asset yields.
Movement’s strategic reorientation follows the passage of the GENIUS Act, which established regulatory clarity for payment stablecoins in the United States. The legislation intensified attention on compliant stablecoin offerings and reserve-backed financial instruments. Movement now frames its payment infrastructure as connecting regulated traditional finance with blockchain-based settlement technology.

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