There is no question that there is a quote unquote desire for ddollarization. The United States ability to use the dollar as the global reserve currency has bestowed upon them this exorbitant privilege, right. And and and it is true.It's it's it's basically global senior and which is the ability to print money for anything you want if you want to get real simple about it. And as a result, that has engendered a number a lot of hate against the United States ability to do this. And because the whole world use ...

Core Viewpoint - Analysts at Standard Chartered have raised their forecasts for Ethereum, predicting it could reach $25,000 by the end of 2028, representing an upside of over 730% from current prices [1] Group 1: Market Dynamics - Despite recent disappointing performance, there are factors that could drive Ethereum's price significantly higher, including increased accumulation by treasury companies and a surge in interest in stablecoins [3] - Ethereum continues to attract the largest number of developers, which is a positive indicator for its future growth [3] Group 2: Total Value Locked (TVL) Analysis - Ethereum's TVL has grown over 350% since the end of 2020, from around $15 billion to almost $68 billion today, indicating a strong correlation between TVL and price [6] - For Ethereum's price to reach $25,000, its TVL would need to increase by 850%, translating to a target of approximately $650 billion [6] Group 3: Future Projections - The growth of the stablecoin and real-world asset tokenization markets could lead to significant funds moving on-chain, with estimates suggesting between $3.1 trillion and $6 trillion may transition in the next five years, potentially benefiting Ethereum [8] - A substantial increase in on-chain finances and Ethereum's continued dominance as the blockchain of choice are essential for achieving the projected TVL growth [9]

Core Viewpoint - The Reserve Bank of India (RBI) warns that the increasing use of privately issued stablecoins poses a threat to financial stability and trust in money, advocating for central bank digital currencies (CBDCs) as a safer alternative to mitigate systemic risks [1][2]. Group 1: Risks of Stablecoins - The RBI identifies stablecoins as a rapidly growing source of risk, particularly during market stress, and urges jurisdictions to assess these risks and develop appropriate policy responses [3]. - The global stablecoin market is projected to reach approximately $300 billion by the end of 2025, with most tokens pegged to the U.S. dollar and dominated by a few issuers [5]. - Stablecoins are closely linked to traditional financial markets, as issuers hold significant amounts of government bonds as reserves, which could lead to amplified volatility during stress scenarios due to sudden redemptions [6]. Group 2: Financial Stability and CBDCs - The RBI emphasizes that CBDCs maintain the integrity of the financial system and serve as the ultimate settlement asset, thereby preserving trust in money [2]. - CBDCs are viewed as a means to facilitate faster payments, programmability, and instant settlement, while ensuring monetary sovereignty and financial stability, unlike stablecoins [7]. - The report highlights that while the global financial conditions appear stable, underlying risks persist due to overstretched asset prices and high levels of debt among the populace [4].

Greetings everyone. My name is Kathy Wood, CEO and CIO of Arc Invest. We've just uh been through one heck of a year for innovation.Uh this will be considered the year of the robo taxi. Both Whimo and Tesla are proliferating pretty quickly now. Uh we also had a great year in terms of space exploration. Uh we also had tremendous breakthroughs in AI with the big four uh leaprogging each other consistently.So open AAI, anthropic, XAI and Gemini in the genomic space uh proof that gene editing works. And then of ...

Political/Tariffs - The November 2024 election results and the assassination attempt on Trump were significant political events that led to the implementation of transformational trade policies, including massive tariffs on most US trade partners, which disrupted decades of conventional trade policy [3][6]. - The initial surge in trade uncertainty due to Trump's tariffs faded, and recession fears dissipated as new trade deals emerged, benefiting the US economy without significant inflation passing through to consumers [8][10][12]. - The US collected nearly $400 billion in annualized tariff revenues, which could have been used to lower the budget deficit, although the US started fiscal 2026 with the largest budget deficit on record [12][14]. Technological/AI - The year 2025 saw significant advancements in AI technology, with companies like Nvidia experiencing substantial growth, reflecting continued investment in AI [16][17]. - AI adoption reportedly increased, although concerns about rising unemployment, particularly among youth, emerged as a potential risk to the labor market [20]. - The AI sector faced challenges in the second half of the year, with concerns about returns on investment and the risk of a bubble leading to a downturn in stock prices [26][30]. Financial/Central Bank Credibility - The US fiscal situation deteriorated, with total US debt rising by over $2 trillion to a new high of $38.4 trillion, leading to a downgrade by Moody's from Aaa to Aa1 due to increased government debt and reduced tax revenues [46][48][44]. - The Federal Reserve resumed rate cuts and restarted quantitative easing, indicating a shift in monetary policy amid rising political pressure and economic challenges [52][112]. - The stock market experienced a dramatic rebound, closing at all-time highs, while precious metals like gold and silver saw significant price increases, reflecting investor concerns about fiscal and monetary challenges [54][113]. Geopolitical - Geopolitical tensions escalated, particularly with the ongoing war in Ukraine and a new cold war between the US and China, focusing on technology and semiconductor self-sufficiency [56][61]. - Europe began rearming itself, marking a significant shift in defense spending in response to geopolitical threats [59]. - The tech race between the US and China became a central theme, with implications for global economic stability and security [63].

Core Insights - The stablecoin market capitalization has increased by 49% in 2025, rising from $205 billion in January to $306 billion by the end of November [1] Group 1: Market Growth - The growth of the stablecoin category has been fueled by strong catalysts, including the establishment of a U.S. regulatory framework and the rollout of MiCA in Europe [2] - Stablecoins are designed to maintain a 1:1 peg to fiat currencies, with issuers holding fiat reserves to ensure tokens can be redeemed for cash [3] Group 2: Regulatory Developments - The GENIUS Act, signed into law by President Trump in July, created a federal regulatory framework for stablecoins, providing market clarity and addressing some associated risks [4][5] - The institutional adoption of stablecoins was already in progress prior to the GENIUS Act, with companies like Stripe and PayPal expanding their support for stablecoin transactions [5] Group 3: Company Developments - Circle successfully went public through an IPO, with its token experiencing significant trading activity shortly after its debut on the New York Stock Exchange [6] - However, not all stablecoin issuers have had positive developments; Tether's USDT was downgraded by S&P Global Ratings due to concerns over its reserves, particularly the inclusion of Bitcoin [6]

Core Viewpoint - Soulpower Acquisition Corporation and SWB Holdings have announced the confidential submission of a draft registration statement for a proposed business combination, aiming to launch SOUL WORLD BANK™ and its affiliates [1][2][3] Company Overview - Soulpower Acquisition Corporation is a financials-focused special purpose acquisition company that raised $250 million in its initial public offering in April 2025 [5] - SWB LLC is a newly formed Cayman Islands company established to launch SOUL WORLD BANK™ and acquire various real-world assets [6] - SWB Holdings will be the publicly traded holding company of SOUL WORLD BANK™ and its affiliates upon the closing of the business combination [7] Business Combination Details - The proposed business combination was initially announced on November 24, 2025, and involves Pubco, Soulpower, and SWB LLC [2] - Pubco intends to list its non-voting Class A ordinary shares on the New York Stock Exchange under the ticker symbol "SOUL" after the closing of the business combination [2][4] - The completion of the transaction is subject to customary closing conditions, including shareholder approval and the effectiveness of the registration statement [3] Future Plans - The SOUL WORLD BANK™ aims to offer a suite of international financial services and operate as a licensed international financial institution, with a focus on integrating traditional markets with new technologies like AI and tokenization [3][7] - The asset portfolio held by SWB is designed to provide stable book value and opportunities for financial engineering [7] Regulatory Process - The confidential submission of the draft registration statement allows the parties to engage with the SEC before making a public filing [2][8] - A definitive Proxy Statement/Prospectus will be mailed to Soulpower shareholders after the registration statement is declared effective [8]

Group 1 - Mastercard Incorporated (NYSE:MA) has been identified as one of the 7 best digital payments stocks to invest in currently [1] - The company's board approved a new share repurchase program allowing for the buyback of up to $12 billion of its Class A shares, following the completion of a previous $11 billion program [2] - Mastercard increased its quarterly dividend from 66 cents to 76 cents per share, indicating a commitment to returning value to shareholders [2] Group 2 - Evercore ISI maintained an In Line rating for Mastercard and raised its price target from $600 to $610, citing anticipated investor interest and valuation considerations [3] - Mastercard exceeded Wall Street forecasts in the last quarter, benefiting from stable spending volumes and its expansion into digital commerce and stablecoins [4] - The company is recognized as one of the major payment processors globally, highlighting its significant market position [4]

Core Insights - China plans to start paying interest on digital yuan holdings, with payments beginning in January, to accelerate the adoption of its central bank digital currency, E-CNY [1] - The initiative is a significant milestone in the development of the digital yuan, which has been in progress since 2014, and is expected to reshape the legal and technical framework supporting it [2] Adoption and Competition - Despite pilot programs in over half of mainland China's provinces, the digital yuan has not been formally launched nationwide and competes with established digital payment services like WeChat Pay and Alipay [3] - The global expansion of the digital yuan has faced challenges, including the withdrawal of the Bank for International Settlements from the mBridge cross-border payment platform due to concerns over sanctions evasion and the US dollar's dominance [4] Current Financial Landscape - Interest on demand deposits at major Chinese banks has decreased to approximately 0.05%, raising questions about whether offering interest on E-CNY will significantly enhance its adoption [4] - Banks are experiencing high deposit inflows as households save more, while loan growth has reached historic lows, prompting the People's Bank of China (PBOC) to intensify its digital currency initiatives [5] Regulatory Environment - Unlike the US, which allows privately issued stablecoins, China continues to focus on its state-backed E-CNY, with regulators expressing concerns about the risks associated with stablecoins [6] - As of the end of November, China had processed 3.48 billion digital yuan transactions, amounting to 16.7 trillion yuan (approximately $2.38 trillion) [6]

Core Viewpoint - The shift in U.S. debt holders from foreign governments to profit-driven private investors poses risks to the stability of the U.S. financial system during market stress [1][2]. Group 1: Changes in Treasury Holdings - Foreign governments represented over 40% of Treasury holdings in the early 2010s, a significant increase from just over 10% in the mid-1990s [2]. - Currently, foreign governments hold less than 15% of the overall Treasury market, despite maintaining similar absolute holdings as 15 years ago [2]. - The total U.S. debt has surpassed $38 trillion, but foreign governments have not increased their Treasury purchases in line with this surge [2]. Group 2: Role of Private Investors - Private investors have filled the gap left by foreign governments, but they are more likely to demand higher returns, leading to increased volatility in rates [3]. - Hedge funds have doubled their presence in the Treasury market over the last four years, raising concerns among U.S. officials [3]. - The Cayman Islands now hold the largest share of U.S. debt outside the country, primarily due to hedge fund activities [3]. Group 3: Market Turbulence and Predictions - Recent shocks in the Treasury market, traditionally a safe haven, have been attributed to hedge fund activities, including a selloff following President Trump's tariffs [4]. - Relying on artificial productivity gains or inflation to manage U.S. debt is predicted to backfire [4]. - A credible plan to control deficits and manage debt is deemed necessary to satisfy bond investors, referred to as "bond vigilantes" [5]. Group 4: Influence of Bond Vigilantes - The upheaval in the bond market following Trump's tariff announcement influenced his decision to moderate aggressive rate policies [6]. - The term "bond vigilantes" highlights the power bond investors have to compel lawmakers to change fiscal policies [5][6].