DePIN’s “death” narrative hides a market that’s quietly compounding revenues, as Messari’s new report pegs the sector at $10 billion with growing real‑world usage and cash flow. Decentralized physical infrastructure networks (DePINs) have been written off as dead by many investors, but a new “State of DePIN 2025” report from Messari and Escape Velocity argues the sector has steadily grown into a $10 billion market generating $72 million in onchain revenue last year alone. According to the report, the “class of 2018-2022” DePIN tokens are down a massive 94%-99% from all‑time highs. Yet, leading projects now post verifiable recurring revenue and trade at 10 to 25 times revenue multiples, levels Messari characterizes as undervalued relative to growth. Messari said the shift marks a transition from subsidy-driven growth toward networks that generate revenue through real-world usage, particularly in areas such as bandwidth, compute, energy and sensor data. Read more
The platform enables enterprises to use programmable stablecoins for payments and treasury while outsourcing custody, compliance and settlement. Financial technology company Dakota launched a stablecoin infrastructure platform as more enterprises look to adopt digital dollars without taking on the operational and regulatory burden of custody and compliance. Dakota will handle custody, compliance and settlement on behalf of its clients. CEO Ryan Bozarth told Cointelegraph that the company operates in the US as a registered Money Services Business, while working with licensed banking and regulated payments partners in other regions. It is also pursuing Electronic Money Institution and Crypto-Asset Service Provider licenses in Europe. This arrangement, according to Bozarth, enables Dakota to offer cross-border money movement without customers becoming regulated financial institutions themselves. Read more
The parliamentary inquiry comes as regulators warn that stablecoins could drain bank deposits and reshape payments. The House of Lords Financial Services Regulation Committee has opened an inquiry into proposed stablecoin rules in the United Kingdom, seeking public input on plans put forward by the Bank of England (BoE) and the Financial Conduct Authority (FCA). The inquiry will examine how stablecoins could affect traditional financial services such as banking and payments, as well as the opportunities and risks created by their growing use in the UK, the committee said in a Thursday statement. Lawmakers said the review will assess whether the regulatory frameworks proposed by the BoE and the FCA provide “measured and proportionate responses” to developments in the stablecoin market, according to Baroness Noakes, chair of the committee. Read more
Bitcoin order-book analysis said that BTC price action was being held back by just one trading entity, while risking a trip to "Bearadise." Bitcoin (BTC) lingered beneath $88,000 into Thursday’s Wall Street open as attention switched to order-book manipulation. Key points: Bitcoin is facing fresh attempts to manipulate short-term price action, says analysis. Read more
Citrea’s Bitcoin rollup has become a live experiment in whether BTC can support a full DeFi and stablecoin stack, and how much complexity Bitcoin should anchor at the base layer. Founders Fund and Galaxy Ventures-backed Bitcoin zero-knowledge rollup (ZK-rollup) Citrea launched its mainnet on Tuesday with BTC collateral lending, BTC-structured products and a new US dollar stablecoin, ctUSD. The launch is aimed at turning what Citrea calls “economically idle” Bitcoin (BTC) into base collateral for decentralized finance (DeFi) and payments, while anchoring more of that activity to Bitcoin’s base layer. The team expects active DeFi liquidity to reach $50 million in the first few weeks, with BTC lending, BTC-structured products, and decentralized trading already live from day one. Read more