Here we are going to explore how true this narrative really is.
The Tornado Cash developer Alexey Pertsev, arrested in the Netherlands, is still in jail. And people from all over the cryptocurrency space have long characterized this as a "war on code" where someone is getting in trouble for writing and publishing open source software.
For reference here are the prosecutors comments (in Dutch, Google translated below), here is the Tornado Cash blog and here is a related (now deleted) blog you can find on the Wayback Machine.
Europe’s rare and severe enforcement action against Coinbase highlights systemic compliance breakdowns that collide with the company’s calls for softer treatment in the United States.
As the SEC loosens custody rules for digital assets, it's not a win for deregulation but a concession to reality. Investor protection now hinges on keeping people inside a broken system, not perfecting it.
Kalshi’s clash with state regulators highlights a looming question in U.S. law: Can federal licenses override state restrictions? The outcome could reshape how decentralized markets are regulated.
The trade that once let equity investors proxy Bitcoin exposure is breaking down. With treasury firms underperforming their underlying assets, the model is shifting from accumulation to debt management—and many DATCOs may not make it through the next phase.
Institutional inflows are transforming crypto from a retail-led market into a derivatives-driven asset class, with options now central to risk, liquidity, and price formation.
Crypto markets are set to be shaped less by single data prints and more by deeper forces – central bank credibility, AI-driven risk cycles, tariff-led inflation pressures, and dollar liquidity – creating a year defined by volatility, not clean trends.
Short-term charts point to weakness and fading momentum, even as long-term forecasts split sharply between institutional-driven upside and warnings of a deep mean reversion.
