Citrini Research’s 2028 scenario imagines AI turbocharging corporate profits, while hollowing out consumer demand and quietly migrating global payments to stablecoins on cheap chains. Thematic equity and global macro analysis company Citrini Research has published a new post imagining the world of 2028 that sketches an economy transformed by artificial intelligence. In Citrini’s version of near-future history, AI finally delivers on its productivity promise, as companies cut staff, profits surge and stocks roar. The post is framed as a macro memo from June 2028 and has been shared widely on X. In Citrini’s scenario, equity markets initially celebrate the efficiency shock. The S&P 500 “flirted with 8000,” and the Nasdaq “broke above 30k,” as investors celebrated a new era of productivity. Read more
The Austrian Financial Market Authority has frozen new business at KuCoin EU months after granting the exchange a MiCA license, citing gaps in key AML and sanctions roles. Austria’s financial regulator has prohibited KuCoin EU Exchange from conducting new business, citing breaches of internal organizational requirements around Anti-Money Laundering (AML), counter-terrorist financing (CTF) and the observance of financial sanctions. The Thursday decision by the Austrian Financial Market Authority (FMA) means KuCoin’s Vienna-based entity cannot onboard new customers or conclude new contracts or products within existing relationships until key compliance functions are “appropriately filled.” Sabina Liu, managing director at KuCoin EU, told Cointelegraph that two compliance professionals holding designated AML and sanctions oversight functions in Austria had “recently departed,” and that such mobility was common in “any regulated industry.” Read more
Strategy bought 592 Bitcoin for $39.8 million in its 100th purchase, increasing holdings to 717,722 BTC. Strategy bought 592 Bitcoin for about $39.8 million last week, marking its 100th purchase since the company adopted its Bitcoin-focused treasury strategy in August 2020. The latest purchase brings the company’s total holdings to 717,722 BTC, acquired at an aggregate cost of $54.56 billion, according to a US Securities and Exchange Commission filing on Monday. The newly acquired Bitcoin was purchased at an average price of $67,286 per BTC, inclusive of fees and expenses. The purchases were funded through the sale of 297,940 shares of Strategy’s Class A common stock under its at-the-market (ATM) offering program between Tuesday and Sunday. The sales generated net proceeds of about $39.7 million, according to the filing. Read more
Base rode SocialFi, memecoins and AI agents to the top of Ethereum’s layer-2 ladder before turning inward to rebuild its core stack. Base will transition to a unified, internally maintained stack, expected to be its biggest architectural shift since launch. After debuting in 2023 as a rollup built on Optimism’s OP Stack, Coinbase’s Ethereum layer 2 is now consolidating its software into an in-house distribution, which can unlock faster upgrades and greater autonomy over its technical roadmap. It has been three years since Base launched its testnet. The network has experienced SocialFi explosions and ridden its own memecoin wave. It even went through a phase that both fascinated and unnerved Crypto Twitter as AI agents began transacting on its chain. Read more
The mounting unrealized losses of Bitmine shareholders and Ether’s 60% decline are signaling a critical inflection point that may define Ether’s medium-term momentum, analysts said. Corporate Ether treasuries are coming under increasing pressure as the crypto downturn deepens, with analysts warning the market is approaching a make-or-break phase for Ether’s investment case. Bitmine Immersion Technologies, one of the biggest corporate holders of Ether (ETH), is sitting on a large unrealized loss as ETH trades well below the company’s average acquisition price, according to third-party tracker Bitminetracker. Some estimates put Bitmine’s paper losses in the $8.8 billion range after Ether’s slide over recent months. ETH’s price has fallen 60% during the past six months, dropping well below Bitmine’s average cost basis of $3,843 per token, Bitminetracker data shows. Read more
Crypto investment products posted outflows for a fifth straight week, marking the longest exit streak since the launch of spot Bitcoin ETFs in 2024. Crypto investment products recorded $288 million in outflows last week, extending their losing streak to five consecutive weeks — the longest stretch of exits since the launch of US spot Bitcoin exchange-traded funds (ETFs) in 2024. The latest withdrawals bring cumulative outflows to $4 billion, according to CoinShares’ Monday report. Despite the sustained downturn, total outflows remain below the $6 billion recorded over the same period last year, said James Butterfill, head of research at CoinShares. Trading activity in crypto ETPs fell to $17 billion last week, the lowest since July 2025, reflecting growing investor apathy, Butterfill said. Read more