defi

Coinbase CEO Brian Armstrong has strongly criticized the U.S. Senate Banking Committee’s proposed crypto market structure bill. According to him, the bill would harm the crypto industry more than if there were no regulation at all. Armstrong shared his position on platform X (formerly Twitter), warning of serious consequences the legislation could have for decentralized finance, user privacy, and market competition.

Coinbase: This Bill Threatens the Future of Crypto
Armstrong pointed out that the Senate’s proposal would:

🔹 Ban tokenized stocks

🔹 Restrict the DeFi sector

🔹 Give the government access to users’ financial data

🔹 Undermine the CFTC’s role while empowering the SEC

🔹 Penalize stablecoins and block fair competition with traditional banks
He warned that the bill, in its current form, would damage innovation and strengthen the monopoly of large financial institutions. Nevertheless, Coinbase plans to continue working on improving the bill through dialogue with lawmakers.
“We appreciate the lawmakers’ bipartisan efforts, but this version is significantly worse than the status quo. We would prefer no bill over a bad one,” Armstrong stated.

Crypto Market Grows, While Regulation Lags Behind
Ironically, this debate comes at a time when the crypto market is surging again. The total market capitalization grew 3% in the past 24 hours, with Bitcoin heading toward $98,000 and Ethereum nearing $3,500.
Industry experts agree that clear legislation is needed to define when a digital asset is a security and when it is a commodity. While the proposed bill does grant more power to the Commodity Futures Trading Commission (CFTC), it also contains sections that could hinder the growth of stablecoins—therefore blocking the development of decentralized financial services.

137 Amendments Filed, Banks Accused of Influence
The bill has triggered a wave of public responses. So far, over 137 amendments have been submitted, with final wording expected after further negotiations. Meanwhile, crypto industry groups accuse banks of wielding excessive influence over the bill’s content.
Summer Mersinger, CEO of the Blockchain Association, stated that banks are pushing to shape the law in their favor, preventing new players from entering the market. Proposed limitations on stablecoin rewards would, she said, hurt consumers and block innovation before it can compete.

#coinbase , #CryptoNews , #brianarmstrong , #Stablecoins , #defi

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$BTC e tBTC estão prestes a importar muito mais na Ásia...e o mesmo vale para L2s como $SUI e $STRK .
A Coreia do Sul (um dos maiores mercados asiáticos) oficialmente removeu uma proibição de 9 anos que impedia empresas de comprar criptomoedas, abrindo a porta para exposição institucional ao Bitcoin em larga escala.
Esta é uma mudança importante. As corporações agora podem ir além da participação no estilo varejo e começar a alocar Bitcoin no nível do balanço.
Mas manter BTC é apenas o primeiro passo.
As instituições não apenas querem exposição, querem eficiência de capital, liquidez e opcionalidade. Isso requer que o Bitcoin se mova com segurança para ambientes onde a execução acontece.
É aí que o tBTC entra.
O Threshold permite que as instituições:
Movam Bitcoin nativo para DeFi sem custodiantes
Evitem risco de governança e exposição sintética
Façam cunhagem em redes suportadas e resgatem diretamente de volta para BTC
Mantenham o Bitcoin soberano enquanto o tornam produtivo
À medida que mais empresas começam a adquirir Bitcoin, o verdadeiro desbloqueio não é apenas acumulação, é sobre sua ativação.
O tBTC é a ponte que permite que o BTC institucional explore DeFi de forma responsável, sem comprometer os princípios fundamentais do Bitcoin.
A adoção institucional não termina com a compra de Bitcoin.
Ela acelera quando o Bitcoin finalmente pode fazer mais. #ALTESEASSON #defi

Bank of Italy–Style Models: Ethereum Collapse and Infrastructure Risk
Abstract
As blockchain networks become systemically important, central banks and financial institutions are increasingly studying the infrastructure risks embedded in public blockchains. Using modeling approaches similar to those employed by institutions like the Bank of Italy, this article explores a hypothetical scenario: What happens if Ethereum suffers a large-scale collapse? We analyze Ethereum as a financial infrastructure, identify fragility points, and explain how network stress can propagate across decentralized finance (DeFi), stablecoins, and global crypto markets.

1. Ethereum as Financial Infrastructure, Not Just a Token
Ethereum is no longer just a cryptocurrency. It functions as:
A settlement layer for DeFiA collateral backbone for stablecoinsA smart-contract execution engineA liquidity hub for NFTs, bridges, and Layer-2s
From a central-bank modeling perspective, Ethereum resembles a financial market infrastructure (FMI)—similar to payment systems or clearing houses.
➡️ This means Ethereum failure risk is systemic, not isolated.

2. How Central Banks Model Infrastructure Risk
Institutions like the Bank of Italy typically use:
Network theory modelsStress-testing frameworksAgent-based simulationsLiquidity contagion models
Applied to Ethereum, these models focus on:
Node concentrationValidator incentivesLiquidity dependenciesSmart-contract interconnections
The goal is to answer one question:
Can a shock in one part of the system cascade into total failure?

3. Key Fragility Points in Ethereum’s Architecture
3.1 Validator Concentration Risk
Ethereum’s Proof-of-Stake relies on validators, but:
Large staking providers control a significant shareRegulatory pressure on validators can cause coordinated exitsSlashing events can amplify panic
📉 Model Outcome: Reduced validator participation → slower finality → loss of trust.

3.2 DeFi Liquidity Feedback Loops
Ethereum hosts massive leveraged positions through:
Lending protocolsLiquid staking tokens (LSTs)Synthetic assets
In stress models:
ETH price dropsCollateral ratios failLiquidations spikeGas fees surgeNetwork congestion worsens
This creates a negative reflexivity loop.

3.3 Stablecoin Dependency Risk
Most major stablecoins depend on Ethereum rails.
If Ethereum stalls:
Stablecoin redemptions slowArbitrage breaksPeg instability increases
📊 Central-bank-style simulations show that stablecoin stress accelerates systemic collapse faster than price volatility alone.

4. Hypothetical Ethereum Collapse Scenario (Modeled)
Phase 1: Shock Event
Regulatory action, major exploit, or validator outageETH price drops sharply
Phase 2: Liquidity Freeze
DeFi protocols halt withdrawalsBridges become bottlenecksGas fees spike uncontrollably
Phase 3: Contagion
L2s fail due to Ethereum dependenceCross-chain liquidity dries upStablecoin confidence erodes
Phase 4: Market Repricing
ETH loses its “risk-free crypto collateral” statusCapital migrates to alternative chains or exits crypto entirely

5. Why This Matters Beyond Crypto
From a Bank-of-Italy-style macro view:
Crypto markets are increasingly interlinked with traditional financeEthereum acts as a shadow settlement layerFailure could impact:Crypto fundsPayment startupsTokenized real-world assets (RWA)
This is why regulators study Ethereum not as innovation—but as infrastructure risk.

6. Risk Is Structural, Not Technical
Important insight from infrastructure modeling:
Ethereum does not fail because of bad code alone —
it fails when economic incentives, liquidity, and trust break simultaneously.
Even perfect technology cannot survive:
Liquidity runsGovernance paralysisConfidence collapse

7. Can Ethereum Reduce Collapse Risk?
Mitigation strategies identified in systemic models include:
Validator decentralizationBetter liquidation throttlesReduced DeFi leverageMulti-chain settlement redundancy
However, no system is collapse-proof—only collapse-resistant.

Conclusion
Using modeling logic similar to that applied by the Bank of Italy, Ethereum emerges as a critical but fragile financial infrastructure. A collapse would not be a simple price crash—it would be a network-wide liquidity and trust failure, with cascading effects across the crypto ecosystem.
For traders, builders, and policymakers, the lesson is clear:
Ethereum risk is no longer speculative risk — it is systemic infrastructure risk.

$ETH

The Liquid Restaking Revolution and Walrus Protocol's Place in It
The Ethereum ecosystem is undergoing a profound shift with the rise of restaking, a mechanism that allows staked ETH to secure additional services beyond the Beacon Chain. This unlocks immense value but creates a new problem: capital lock-up. This is where Liquid Restaking Tokens (LRTs) and protocols like @Walrus 🦭/acc come into play, with $WAL at the center.
LRTs are the next logical evolution. They are tokenized representations of your restaked assets. Instead of your capital being locked and illiquid, you receive a tradable, composable token (like walrusETH) that can be used across the entire DeFi landscape. This simple concept is revolutionary—it transforms a static, security-focused asset into dynamic, yield-generating capital.
So, what does @walrusprotocol bring to this competitive arena? While specifics require checking their official docs, the key to any LRT protocol's success lies in a few pillars: security of the underlying assets, efficiency of yield aggregation from various restaking platforms, and the utility and integration of its LRT. The vision for $WAL likely extends beyond a governance token; it may be integral to fee mechanisms, ecosystem incentives, or protocol security.
By focusing on user empowerment through liquidity, Walrus Protocol isn't just providing a service; it's participating in the fundamental repackaging of crypto-economic security. The ability to earn multiple layers of yield while maintaining flexibility is a powerful value proposition for the modern DeFi user. #walrus " data-hashtag="#walrus " class="tag">#walrus #LRT " data-hashtag="#LRT " class="tag">#LRT #Restaking " data-hashtag="#Restaking " class="tag">#Restaking #defi " data-hashtag="#defi " class="tag">#defi #

In a crypto market crowded with thousands of projects, @Dusk

@undefined has elevated itself to a unique position. It operates where a trillion-dollar opportunity lies: Real-World Assets (RWA) and institutional compliance.
1. Why is Dusk a "Game-Changer"?
The biggest barrier between Traditional Finance (TradFi) and Decentralized Finance (DeFi) is privacy and regulation. Dusk Network provides the perfect solution to both. It is the world’s first Layer-1 blockchain that uses Zero-Knowledge Proofs (ZKP) to protect transaction privacy while simultaneously adhering to global regulatory standards.
2. Key Milestones for 2026:
Dusk Mainnet and EVM: The launch of Dusk’s Mainnet and DuskEVM by early 2026 is a massive leap for the ecosystem. This allows Ethereum-based applications to operate seamlessly on Dusk’s secure network.
DuskTrade and Institutional Partnerships: Dusk is collaborating with licensed European exchanges (like NPEX). By 2026, the goal is to have approximately €300 million worth of securities tokenized on this chain.
RWA 2.0: While standard projects only create digital copies of offline assets, Dusk handles the issuance and trading of assets directly on-chain.
3. Why should $DUSK be in your wallet?
In today's market, only projects with real-world utility will survive. Dusk is not just a token; it is a complete financial infrastructure. If you are looking for a project that will serve as the backbone for banks and major financial institutions, $DUSK should be at the top of your list.
Conclusion:
By blending privacy with compliance, Dusk Network is creating an ecosystem that will open new horizons for blockchain adoption. In 2026, Dusk’s position in the RWA sector is set to be unrivaled.

#dusk $DUSK @Dusk #RWA #Privacy #defi