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Les développeurs principaux de la cryptomonnaie axée sur la confidentialité Zcash ont quitté Electric Coin Company et forment une nouvelle entreprise. Ce changement suit un différend public concernant la gouvernance et le contrôle au sein des organisations liées à l'écosystème Zcash.
L'annonce a été diffusée dans un communiqué des créateurs de Zcash, puis reprise par le PDG de Electric Coin Company, Josh Swihart. Il a déclaré que cette décision résultait de profondes désaccords avec les membres du conseil de Bootstrap, une organisation à but non lucratif créée pour soutenir Zcash.
Le conflit de gouvernance de Zcash entraîne la sortie de l'équipe

Comme les monnaies virtuelles similaires aux memes, le récit des cryptomonnaies basées sur l'IA a été à nouveau le deuxième plus populaire en 2025, avec une part combinée de 22,39 % d'intérêt dans la catégorie principale des cryptomonnaies liées à l'IA et dans 10 autres récits crypto liés à l'IA. Autrement dit, il y a eu une augmentation de 6,72 point de pourcentage par rapport aux 15,67 % de part totale captés l'année dernière par le récit des cryptomonnaies basées sur l'IA.
Cela malgré la réduction de la part d'intérêt de la catégorie principale des cryptomonnaies liées à l'IA, passant de 12,58 % l'année dernière à 9,76 % cette année. Néanmoins, le récit principal des cryptomonnaies liées à l'IA a conservé le deuxième classement de popularité.

Les coins mèmes sont une fois de plus apparus comme le récit crypto le plus populaire en 2025, captant conjointement 25,02 % de l'intérêt des investisseurs mondiaux dans la catégorie principale des coins mèmes et 35 tendances de coins mèmes. Cela représente une baisse par rapport aux 30,67 % de part de marché que le récit des coins mèmes détenait l'année dernière, ce qui suggère que la folie pour les cryptos uniquement spéculatives pourrait diminuer. Toutefois, il reste à voir si l'attention des investisseurs en cryptomonnaies va enfin se tourner vers des récits fondés sur des fondamentaux solides.
Le récit principal des coins mèmes a mené avec une part de 12,48 % de l'intérêt des investisseurs en cryptomonnaies, ce qui représente une légère baisse par rapport aux 14,36 % enregistrés l'année dernière. Malgré cela, le récit principal des coins mèmes reste classé au 1er rang pour la deuxième année consécutive, après avoir occupé la 3e place en 2023.

Bitcoin a brièvement dépassé les 92 000 dollars en raison de l'incertitude sur les taux d'intérêt, tandis que les monnaies privées ont atteint de nouveaux sommets et que l'activité des memecoins a fait progresser certains altcoins.
Bitcoin a grimpé de plus de 2,3 % pendant la nuit, atteignant un sommet d'environ 92 400 dollars avant de perdre ces gains pendant la séance européenne.
La hausse a été déclenchée par la menace de poursuites pénales contre le président de la Réserve fédérale Jerome Powell, ce qui a fait monter l'or et l'argent de 2 % et 5,6 % respectivement.
Les contrats à terme sur le Nasdaq 100 ont chuté d'environ 1 % tandis que l'indice du dollar (DXY) s'est affaibli suite à l'information, ce qui suggère une incertitude parmi les traders concernant les taux d'intérêt à venir.

Disagreements over stablecoin rewards have frayed bipartisan support for the bill, with traders estimating a 68-70% chance of passage this year.
Coinbase is pressuring lawmakers to preserve its ability to pay users rewards for holding stablecoins, as Congress prepares to move forward on a sweeping crypto bill.
The Senate is set to mark up the U.S. crypto market-structure bill this week, but language targeting yield-bearing stablecoin accounts has emerged as a sticking point.
If the bill goes beyond disclosure requirements and restricts non-bank firms like the Nasdaq-listed crypto exchange Coinbase from offering rewards, the company may pull its support, Bloomberg reports, citing a person familiar with the matter.
At the center of the fight is Coinbase’s yield program for users who hold USDC, a dollar-backed stablecoin issued by Circle, on its platform. The exchange shares the interest generated from USDC reserves with users, and offers 3.5% rewards through its Coinbase One subscription.

That revenue, which stood at $355 million in the third quarter of the year, helps the company during market drawdowns where trading volume wanes.

A proposal backed by some banks would limit stablecoin yield programs to regulated financial institutions. Banks argue these rewards pull deposits away from the traditional financial system and could harm the “small business, farmers, students and home buyers” by displacing funds from community bank lending.

Crypto companies, including Coinbase, counter that such rules would stifle competition and undercut a model that’s already regulated under the July-passed GENIUS Act.

Coinbase’s chief policy officer, Faryar Shirzad, said on social media that banks have earned around $360 billion a year from parking around $3 trillion at the Federal Reserve and from card swipe fees. These earnings, he said, are threatened by stablecoin rewards as they “introduce real competition in payments.”

“Independent research from Cornell confirms it: stablecoin adoption does not reduce bank lending,” Shirzad said, citing a study on stablecoins and banking from Cornell University. “In fact, rewards would need to approach 6% to meaningfully affect deposits. No one is offering anything close to that.”
While the bill enjoys backing from the Trump administration, disagreements over stablecoin rewards have started to fray bipartisan support. On Polymarket, traders are weighing a 68% chance the bill is passed into law this year, while on Kalshi, those odds are at 70%.

Some lawmakers are weighing a compromise: allow only firms with banking licenses to offer rewards. Five crypto firms, including Circle, Ripple, and BitGo, have in December last year received conditional approvals to become federally chartered trust banks. But even that may not settle the issue, as companies would likely find alternative ways to reward users for holding funds with them.
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The stablecoin issuer’s previously undisclosed investment valued the lender at about $500 million, according to a person familiar with the transaction.

When stablecoin issuer Tether announced a "strategic investment" in Ledn, a lender of stablecoins and fiat against bitcoin
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$90,939.57
collateral, in November, it chose to withhold details of the investment.

In fact, it paid between $40 million and $50 million at a valuation of $500 million, according to a person with knowledge of the matter.

Neither Ledn nor Tether responded to requests for comment by publication time.

Tether, whose USDT is the No. 1 dollar-pegged token by market capitalization, has become increasingly acquisitive under CEO Paolo Ardoino, who took over in 2023. The company earns returns on the U.S. Treasuries it holds to back the stablecoin, and in October reported a nine-month profit of $10 billion.
The Ledn investment gives it a stake in a crypto financial services company focused on letting individuals and institutions earn yield on, borrow against, and manage digital assets. Last May, the company, registered in the Cayman Islands, said it was shifting to a bitcoin
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-only model to simplify its offering and sharpen its focus.

Tether's acquisitive streak, however, extends beyond the crypto industry.

Last year, it acquired control of Adecoagro, an operator of sugar mills, rice farms, dairy businesses and renewable energy assets across Brazil, Argentina and Uruguay. It also bought a 10% stake in Italian football club Juventus, though its offer for majority shareholder Exor's 65.4% stake was rejected.

The company kicked off 2026 by adding 8,888.88 BTC to its treasury as part of its fourth-quarter profit allocation. The purchase, worth about $780 million at current prices, underscores a strategy that has quietly turned the world’s largest stablecoin issuer into one of bitcoin’s biggest corporate holders.

It reflects a policy introduced in 2023 under which Tether allocates up to 15% of its realized quarterly operating profits to bitcoin, making it a systematic accumulator rather than an opportunistic buyer.

FT Partners served as financial adviser to Ledn on the strategic investment from Tether.
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The asset manager’s base case assumes bitcoin gains traction as a settlement tool and reserve asset over the next 25 years.
VanEck has outlined a long-term framework that values bitcoin at roughly $2.9 million by 2050, according to a research blog post published by the asset manager on Thursday.

The analysis, titled “Bitcoin Long-Term Capital Market Assumptions,” was authored by Matthew Sigel, the firm’s head of digital assets research, and Patrick Bush, a senior investment analyst for digital assets. In the post, Sigel presents what VanEck describes as a base-case valuation model for bitcoin extending through 2050, estimating an annualized return of about 15% over the period.

Rather than framing the estimate as a price target, the blog post characterizes it as a valuation exercise centered on how bitcoin could be utilized if adoption expands significantly beyond its current role as a trading asset. VanEck’s framework does not rely on traditional equity valuation metrics, but instead models bitcoin’s value through adoption scenarios.

Settlement layer and reserve asset
One key assumption in the base case is bitcoin’s use as a settlement asset in global trade. VanEck’s model assumes bitcoin could eventually handle between 5% and 10% of international trade settlement volume. Another assumption is that central banks gradually allocate a small portion of their reserves to bitcoin, reflecting diversification away from sovereign currencies over long time horizons.

Those assumptions represent a sharp departure from current conditions. As VanEck notes in the post, bitcoin today plays a negligible role in trade settlement and is not held as a reserve asset by major central banks. The firm acknowledges that its base case depends on regulatory clarity, operational infrastructure and political acceptance that have yet to materialize.

The authors also emphasize the volatility that would likely accompany such adoption. VanEck models long-term annualized volatility between roughly 40% and 70%, a range it compares to frontier markets rather than traditional financial assets. Even in its bear-case scenario, however, the firm still assumes positive long-term returns, reflecting what it describes as bitcoin’s growing structural relevance.

VanEck’s framework places particular emphasis on macroeconomic factors. According to the post, bitcoin’s historical price behavior has shown closer alignment with global liquidity trends than with equities or commodities. The firm argues that correlations with broad money supply growth, along with a weakening relationship with the U.S. dollar, suggest bitcoin’s drivers may be becoming more global over time.

From a portfolio perspective, the analysis suggests that relatively small allocations — typically ranging from 1% to 3% — have historically improved risk-adjusted returns in diversified portfolios. The firm stresses that this does not imply bitcoin is low-risk, but rather that its volatility has not translated proportionally into portfolio-level risk when position sizes are constrained.
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