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Christina Hughes, Los Angeles county, Los Angeles, CA (2026)

05/28/2026

Yesterday, I had a brief yet highly productive meeting with traders across Arkansas, where I primarily discussed key market trends, strategic opportunities, collaborative growth initiatives and also spoke about TRUMP’S IRAN DECISION SPARKS $350 BILLION STOCK MARKET FRENZY, BUT BITCOIN EXTENDS LOSSES

Wall Street added roughly $350 billion in market value within 15 minutes after Axios reported that US and Iranian negotiators had reached a draft ceasefire deal. Bitcoin (BTC) moved the other way, sliding more than 3% on the day.

The proposed 60-day extension still awaits final approval from President Donald Trump and Iran’s senior leadership, leaving the rally exposed to last-minute political resistance on both sides.

Wall Street Jumps on Draft Ceasefire Terms

The Axios report said US negotiators led by Steve Witkoff and Iran’s Abbas Araghchi agreed on a 60-day memorandum of understanding to extend the current truce.

The framework would launch nuclear talks, lift the US naval blockade in proportion to restored commercial shipping, and require Tehran to remove all mines from the Strait of Hormuz within 30 days.

The equity reaction was almost immediate, with the rally lifting stocks to new record highs within minutes of the headline.

05/10/2026

HAS DONALD THRUMP BEEN A NET POSITIVE FOR BITCOIN OR CREATED AN UNBREAKABLE PARTISAN DIVIDE?

Trump pushed Bitcoin closer to U.S. policy recognition, but the wider ledger on price, trust, and adoption remains mixed.

Has Donald Trump been net positive for Bitcoin? It is an uncomfortable question for many Bitcoin supporters, including me.

My political criticisms of Trump are substantial and longstanding. They extend well beyond policy disagreements into questions about rhetoric, institutional conduct, and the broader political culture surrounding his presidency.

None of that disappears because Bitcoin performed well during parts of his administration or because parts of the industry now view him as an ally. Still, the question matters because Bitcoin increasingly sits inside state policy, capital markets, and geopolitical competition.

Once that happened, separating political preference from analytical judgment became harder. The reason the question deserves a serious answer is simple: no modern U.S. president has moved Bitcoin closer to formal government recognition than Trump.

That does not automatically make him “good for Bitcoin” in a complete sense. Price appreciation alone is insufficient. Campaign rhetoric is insufficient. Political branding is insufficient.

The real test is whether Bitcoin has become more institutionally durable, more legally defensible, and more difficult for future governments to marginalize.

On that narrower question, the evidence is stronger than many critics like me want to admit.

Trump’s Bitcoin legacy rests on whether political recognition became durable institutional protection.

So, to dig into it, Donald Trump has been positive for Bitcoin in one important and provable way: he moved it closer to the center of U.S. government policy than any prior president.

The clearest evidence comes from the federal record: an executive order endorsing lawful use of public blockchains, self-custody, mining, and validation, followed by a separate order creating a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile.

That shift changed Bitcoin's political ceiling. The U.S. government stopped treating it only as an asset to be policed, taxed, or liquidated, and began describing it as something the state could hold as a reserve asset.

For investors and institutions, that lowers the perceived risk of a federal ban or of hostile banking policy returning unchanged.

The broader record is less sweeping. Price action is mixed. Regulation has improved, while the law on Bitcoin itself remains incomplete.

Yet public trust remains weak. The blockchain has yet to show a simple adoption boom. Trump-linked crypto businesses have also created a separate reputation problem that Bitcoin supporters cannot dismiss by saying the protocol is apolitical.

The answer is therefore ledger-specific. Trump's Bitcoin record is strongest where government recognition, institutional access, and political permission are the test.

It is weaker where the test is price durability, public confidence, durable statute, or organic base-layer use.

05/01/2026

🚀 Curious About Cryptocurrency? Start With the Basics

The conversation around digital finance is growing worldwide, and many people are beginning to explore how cryptocurrency and blockchain technology work.

One of the most widely recognized digital assets is Bitcoin, a decentralized currency that operates on a global blockchain network without relying on traditional banking systems.

💡 Why people are learning about Bitcoin and crypto today:

🔹 Decentralized technology – Transactions operate on a blockchain network rather than a central authority.

🔹 Global accessibility – Anyone with internet access can learn about and interact with digital assets.

🔹 Transparent systems – Blockchain records transactions on a public ledger.

🔹 Growing awareness worldwide – Digital assets are increasingly discussed in technology, finance, and innovation spaces.

🌍 Cryptocurrency is becoming an important topic in the modern digital economy, and understanding how it works can help you stay informed about emerging financial technologies.

📘 Start exploring the fundamentals of cryptocurrency today and learn how blockchain technology powers digital assets.

03/22/2026

GOLD FALTERS AS MACRO PRESSURES BUILD, BITCOIN HOLDS LIQUIDITY TREND

Rising real rates and inflation risks weigh on gold, while bitcoin continues to consolidate.

What to know:

•Gold is nearing a technical bear market despite geopolitical tensions, as higher interest rate expectations and inflation pressures from rising oil prices reduce its appeal.

•On an M2 adjusted basis, gold is near historical peak levels, while bitcoin remains in a typical consolidation phase that has historically preceded new cycle highs.

Gold is approaching a technical bear market, down nearly 20% from its January all time high. Traditionally viewed as a store of value and hedge against geopolitical uncertainty, gold’s recent performance challenges that narrative. Despite escalating tensions in the Middle East, prices have fallen around 10%, since the war started at the end of February.

Markets have also repriced the interest rate outlook, with cuts now largely pushed out and policy expected to remain restrictive through December 2026. At the same time, rising oil prices, driven by geopolitical risk, are adding upward pressure on inflation, reinforcing the higher for longer rate environment, a key headwind for gold.

While adjusting for M2 money supply, which includes cash, deposits, and other liquid forms of money, gold is trading near levels seen at major historical peaks in 1974 and 2011, when it was $200 and $1,800 per ounce, respectively. On this basis, gold appears to be consolidating at elevated levels, potentially forming a cyclical floor relative to global liquidity.

In contrast, bitcoin relative to M2 remains in a consolidation phase similar to 2024, while retesting its 2021 highs on a liquidity adjusted basis. Historically, each cycle has seen bitcoin move above prior peaks when adjusted for money supply. With bitcoin still about 40% below its October high, this may represent a typical consolidation range before further upside.

Gold has traded alongside bitcoin tick for tick since it broke down from $5,000 on Wednesday, showing elements of positive correlation after diverging from the crypto markets prior.

03/11/2026

THE PROTOCOL: ETHEREUM FOUNDATION STARTS EXPERIMENTING WITH ‘DVT-LITERALLY ’ TECHNOLOGY.

Also: Nvidia’s rare blog, Aave liquidations, and Pudgy Penguins new game.

What to know:

Welcome to The Protocol, CoinDesk's weekly wrap of the most important stories in cryptocurrency tech development. I’m Margaux Nijkerk, a reporter at CoinDesk.

In this issue:

• Vitalik Buterin pushes ‘DVT-Lite’ to make Ethereum validator setup easier

• Nvidia's Huang argues AI creates jobs, not destroys them, in rare official blog post

• DeFi lending platform Aave sees a rare $27 million in liquidations after a price glitch

• Pudgy Penguins launches its 'Club Penguin' moment, and the game doesn't feel like crypto at all

ETHEREUM FOUNDATION STARTS EXPERIMENTING WITH DVT-LITE TECH:

The Ethereum Foundation is testing a method for running validators that could make it significantly easier for institutions holding large amounts of ether to set up staking infrastructure, widening the pool of participants and creating a more decentralized network. In a post on X, blockchain co-founder Vitalik Buterin said the foundation is using a simplified version of distributed validator technology, or “DVT-lite,” to stake 72,000 ETH. The experiment aims to make running validators across multiple machines less complicated. Buterin said the goal is to reduce the process to something close to a one-click setup, where operators choose which computers will run validator nodes, launch the software and enter the same key on each machine. The system would then automatically connect the nodes and begin staking. “My hope for this project is that we can make it maximally easy and one-click to do distributed staking for institutions,” Buterin wrote. Running Ethereum validators today typically means operating a single node that holds the key used to sign blocks and participate in the network. If that machine fails or goes offline, the validator can stop working and may be penalized. Distributed validator technology (DVT) changes that by allowing multiple independent machines to collectively act as a single validator. Instead of relying on one key and one computer, several nodes work together, and only a handful of them sign for the validator to function. That means the validator can keep operating even if some machines go down. But existing DVT systems can be complicated to deploy because operators must coordinate networking, keys and communication between nodes. Buterin has previously argued that complexity is one reason large staking providers have come to dominate the ecosystem. The “DVT-lite” setup aims to automate much of that process, making it easier for institutions to run distributed validators with minimal infrastructure expertise.

03/10/2026

BITCOIN CLIMBS PAST $71,000 AS OIL SHOCK FEARS CONTINUE TO EASE

The International Energy Agency (IEA) on Tuesday said it will convene an extraordinary meeting of its member countries to consider releasing emergency oil reserves.

What to know:

• Cryptocurrencies rallied as easing fears of an oil supply shock, helped by the IEA’s move toward a possible release of emergency reserves, lifted risk sentiment across global markets.

• Bitcoin climbed above $71,500 at one point during Tuesday morning U.S. trading hours and major tokens like XRP, dogecoin, SUI and HYPE also advanced.

• Bitcoin is showing signs of decoupling from software and tech stocks, holding up better than equities during recent macro turbulence — a "cautiously optimistic" sign, one analyst said.

Cryptocurrencies are extending their advances on Tuesday as easing concerns about a potential oil supply shock improved risk sentiment across global markets.

The sentiment shift came after the International Energy Agency (IEA) said it would convene an extraordinary meeting of its member countries to consider releasing emergency oil reserves.

Bitcoin BTC $70,275.24 climbed above $71,500 for the first time since Thursday, before easing back to the current $71,300, up 3.2% over the past 24 hours. The broad market CoinDesk 20 Index was up by a similar amount, with XRP (XRP), DOGE $0.09478, SUI $0.9650 and Hyperliquid's native token (HYPE) leading gains among major crypto assets.

WTI crude oil extended its decline on the news, dropping to $82 after spiking to near $120 over the weekend. Meanwhile, the S&P 500 and tech-heavy Nasdaq 100 were up roughly 0.5% at midday.

Most crypto-related stocks mirrored the advance. Stablecoin issuer Circle (CRCL) was up another 6%, now nearly 100% higher in two weeks, while digital asset infrastructure firm BitGo (BTGO) climbed more than 8% and blockchain firm Figure (FIGR) rallied 12%.

Since Nigel Farage was announced as joining U.K. bitcoin treasury firm Stack BTC (STAK) on Monday, that stock has surged more than 200%.

Bitcoin decoupling from software

Bitcoin appears to be losing its correlation with the software stock ETF (IGV), as BlackRock’s IBIT is up around 3% over the past 24 hours while IGV is down more than 2%.

However, over the past five days, IGV is up about 1.5% while IBIT is down roughly 2%, suggesting IBIT may still have some catching up to do if the correlation with software stocks is to re-establish itself.

A weakening correlation could also be notable, as it may signal bitcoin beginning to trade more independently from software and tech equities, potentially becoming a more uncorrelated asset during periods of macro uncertainty. While still outperforming gold and U.S. equities since the war began.

'Cautiously optimistic' for BTC

Zooming out, bitcoin’s recent price action has been relatively resilient despite the ongoing macro turbulence, said James Harris, CEO of crypto yield platform Tesseract Group.

After briefly testing the low-$60,000 area, BTC recovered even as broader risk markets struggled with geopolitical uncertainty, he said. Meanwhile, ETF inflows have remained broadly supportive, while a sharp deleveraging earlier in the month helped clean up excessive positioning in derivatives markets.

The mix of washed-out sentiment, flushed-out leverage and support around the $66,000 zone suggests bitcoin may be entering a bottoming process, Harris said. However, downside risk persists as the crypto market remains fragile.

"If support in the mid-$60k area fails, we could easily see another test lower, but for now we remain cautiously optimistic on BTC," he said.

03/10/2026

CARDANO SPENT YEARS LOOKING SLOW. NOW THAT MAY HELP IT WIN IN CRYPTO’S RULE-HEAVY ERA.

Reeve’s on chain audit attestation and new governance indexing tools hint at a credibility race most chains can’t pass.

Cardano's recent updates look unremarkable when read one by one: a ratified long-term vision, a stricter constitution, better governance indexing, a formal-verification push, and new treasury guardrails.

However, they point to a larger shift when taken together.

At the same time, Europe's MiCA regime is pushing crypto toward greater accountability, while Cardano is positioning itself as one of the most governable chains in the market.

The ecosystem is assembling rules that are harder to bend, treasury flows that are easier to monitor, governance data that are easier to index, and smart contracts that are easier to verify.

In a market still obsessed with growth, Cardano may be trying to win the race for credibility with enterprises, public institutions, and tokenized-asset projects that need visible controls.

03/09/2026

Zcash Outpaces Bitcoin Gains as Key Development Team Raises $25 Million

Prominent privacy coin Zcash (ZEC) has jumped 7% over the last day as the Zcash Open Development Lab announced a $25 million fundraise.

Privacy coin Zcash is one of the biggest crypto gainers over the past day, rising 7% and outpacing Bitcoin’s own rebound as a key team of core developers just raised a Series A round of funding for their fresh venture.

Zcash Open Development Lab (ZODL) said Monday that it has raised over $25 million in funding from a prominent group of investors including Paradigm, Andreessen Horowitz, Winklevoss Capital, Coinbase Ventures, Zcash treasury firm Cypherpunk Technologies, and notable angel investors including Balaji Srinivasan, Haseeb Qureshi, and Mert Mumtaz.

Founded by Josh Swihart, former CEO of Electric Coin Company (ECC), ZODL continues the work begun at ECC, including development of the Zodl wallet (formerly Zashi). Since launching in 2024, the wallet has grown Zcash's shielded pool by over 400%, according to the team, and processed more than $600 million in ZEC swaps since October 2025.

The full ECC team departed that company in January and has since migrated to ZODL to continue building the wallet as an open, self-custodial private financial platform aimed at broader ecosystem interoperability.

Beyond the wallet, ZODL said that it maintains a strong focus on Zcash protocol development. The engineers responsible for Zcash's core systems at ECC have joined ZODL and continue that work, prioritizing usability-driven technical progress.

“This fundraise positions ZODL for growth, including adding engineers and other talent, and reflects strong conviction from some of the most respected investors in crypto, not only in privacy as a principle, but in the continued growth of the Zcash ecosystem and the ZODL team,” ZODL said in a statement.

Launched in 2016 in a process that included input from noted whistleblower Edward Snowden, Zcash is designed to be more private than cryptocurrencies like Bitcoin, making it more difficult to trace transactions on its blockchain.

The coin saw a resurgence in investor interest last fall, rising from a price of about $50 in September to a multi-year peak of nearly $700 in November. That’s still shy of Zcash’s all-time high mark of $3,191 set soon after launch in 2016.

Like most leading cryptocurrencies, the price of Zcash (ZEC) has fallen sharply in recent months, with the coin recently trading for $215. It’s up 7% over the last day, outpacing Bitcoin’s own nearly 3% rise to just over $69,000. Even with the daily rise, ZEC remains down about 11% over the last month.

03/09/2026

SHARPLINK POSTS $734 MILLION LOSS AS ETHEREUM STAKING REVENUE SOARS

The Ethereum-buying firm attributed its full-year performance to the asset’s volatility.

Sharplink reported a full-year loss of $734 million on Monday, indicating that its business came under pressure as Ethereum’s price tumbled last year.

In 2024, the firm notched $10.1 million in profits, before pivoting away from sports gambling marketing to become Ethereum’s second-largest corporate holder.

The Miami-based firm currently owns 867,000 Ethereum. That sum was valued around $1.75 billion on Monday, with Ethereum changing hands around $2,000, according to CoinGecko. The company’s holdings are only second to BitMine Immersion Technologies’ $9 billion stockpile, overseen by Fundstrat’s Tom Lee.

Sharplink attributed the performance to a decrease in the value of its holdings, which fell $616 million throughout the year. The loss was bolstered by a $140 million impairment charge on tokens representing staked Ethereum. That was partially offset by a $55 million net gain on conversions between the company's holdings and such tokens.

Although Sharplink’s treasury took a hit, the company signaled that revenue from staking jumped 50% quarter-over-quarter to $15.3 million from $10.3 million. So far, the company has generated 14,500 Ethereum worth $9.4 million from staking.

“2025 was a defining year for Sharplink,” CEO Joseph Chalom said in a shareholder letter, noting that the company raised around $3.2 billion amid its pivot.

The former BlackRock executive said “short-term market volatility” can impact the company’s results, but he argued that the firm is built in a way to weather crypto’s market cycles, including Ethereum’s swoon from nearly $5,000 in August.

“We have built a platform that can perform in both strong and challenging markets,” he added. “Our strategy is consistent and designed to endure.”

At the end of last year, the company held $30.4 million in cash and stablecoins.

Sharplink shares were little changed on Monday at $7.41, according to Yahoo Finance. Over the past six months, the company’s stock price has dropped 55%, slightly outpacing Ethereum’s 53% fall over the same period of time.

Sharplink seeks revenue by participating in the process of validating transactions on Ethereum’s network, also known as staking. Beyond that, the firm has also deployed capital in decentralized finance protocols in search of higher yields.

The company currently holds 4 ETH per share. Sharplink has signaled boosting that metric further serves as its primary objective, among others like expanding partnerships within Ethereum’s ecosystem.

Consensys CEO and Ethereum co-founder Joe Lubin, who serves as Sharplink’s Chairman, underscored the importance of Ethereum’s ecosystem amid the institutional adoption of stablecoins and tokenized assets.(Disclosure: Consensys is one of 22 investors in an editorially independent Decrypt.)

“The institutional adoption supercycle [...] accelerated in 2025,” he said. “Sharplink intends to remain uniquely positioned to serve as a bridge between traditional public markets and the Ethereum opportunity.”

Christina Hughes

05/28/2026

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