Eighteen crypto assets spotlight a broader regulatory shift as U.S. agencies clarify digital commodities as an open category, reshaping how blockchain-based tokens are classified and valued beyond a fixed list. 18 Crypto Assets Labeled Digital Commodities as Regulatory Shift Hits Markets Crypto assets classified as non-securities form a broader category rather than a fixed list […]
Polymarket Sees Coordinated Buying on Early US-Iran Ceasefire Contracts
A cluster of newly created wallets is placing coordinated bets on an early U.S.-Iran ceasefire, igniting fresh debate over whether these prediction markets are reflecting insight or something more calculated. Middle East War Gets Interesting as Linked Wallets Chase Early Ceasefire Payout The activity comes as tensions between the United States and Iran remain elevated […]
Report Recommends China to Shed US Treasuries as Yuan Internationalization Grows
A report issued by Renmin University’s International Monetary Institute argues against maintaining large foreign exchange reserves, mainly U.S. Treasuries, as the yuan adoption and trust grow. The document advises holding “moderately ample” levels of foreign reserves, with dollar bonds being their largest component. Report: China Should Reduce Forex Reserves As Yuan Matures China’s level of […]
Ethereum Price News: SEC Ends Regulation by Enforcement as Pepeto Gains Momentum
The SEC just buried regulation by enforcement. According to CoinDesk, Chair Paul Atkins said the agency is taking a completely different approach to crypto, starting with clarity instead of punishment. The interpretive release established that most cryptocurrencies are not securities under federal law.
The ethereum price at $2,032 benefits directly from this shift as commodity classification removes years of uncertainty. BTC at $67,500 holds steady while DOGE at 0.089 faces three consecutive down days. While the overall message boosted institutional confidence across the board, retail traders are still actively looking for new opportunities with the kind of massive upside that established tokens at hundred billion dollar valuations can no longer deliver. And even as the market logged a small correction, Pepeto continued attracting new investors exploring high upside entries before confirmed exchange listings.
Pepeto Is Attracting Investors Because the Regulatory Shift Makes Presale Projects Safer Than Ever
The crypto market news today shows that the long standing regulatory fog is finally lifting. But that is not the only reason Pepeto is gaining attention ahead of its exchange listings. The real reason is that the PEPE cofounder who built a $7 billion token is directing PepetoSwap, Pepeto Bridge, and Pepeto Exchange toward the $45 billion meme coin economy. These three products are close to ready and will give meme coin traders dedicated infrastructure that has never existed before.
The SolidProof audit confirms every contract is clean. Over 4 billion tokens permanently burned create visible scarcity. The 195% staking APY turns your purchase into a compounding machine. With $8.2 million raised, the ethereum price recovery is creating the perfect environment for early stage projects with real products.
The removal of enforcement led uncertainty reduces the risk that historically slowed exchange listings. For a project like Pepeto with confirmed listing plans and real utility, clearer SEC guidance makes the path to explosive growth much more straightforward than at any previous point in crypto history.
Ethereum Price at $2,032 Benefits From Commodity Classification
According to Bloomberg, the ethereum price at $2,032 reflects renewed strength after the SEC commodity ruling. Layer 2 adoption, ETF optimism, and expanding DeFi usage are driving confidence. Analysts target $4,000 to $5,800 by year end. Strong returns for a $250 billion token. But the ethereum price gains are already being priced into a massive market cap. The presale entry at $0.000000186 captures the kind of gains that ethereum early buyers enjoyed before the world caught on.
Bitcoin Price at $67,500 Holds as Institutional Demand Stays Strong
BTC at $67,500 with $962 million in ETF inflows over six days demonstrates that institutional demand is not slowing down. The bitcoin price targets $80,000 to $100,000. Solid anchor for any portfolio. But the entry that could turn a small investment into a fortune is not sitting inside a $1.37 trillion token. It is sitting at $0.000000186 where the PEPE cofounder builds three products for a market worth $45 billion.
If You See the Regulatory Shift and Still Miss This Entry You Will Think About It for the Rest of This Cycle
The SEC just made crypto safer than it has ever been. The ethereum price is rising because of it. Bitcoin is holding strong. The environment is perfect for presale projects with real products and confirmed listings. Everything is lined up for Pepeto right now. The PEPE cofounder, three products, the SolidProof audit, the 195% staking APY, and $8.2 million raised. If you recognize that the regulatory shift makes this the best environment ever for early stage crypto and you still miss the entry at $0.000000186, this will be the opportunity you think about for the rest of this cycle. The ethereum price will keep climbing slowly toward its targets over the coming months.
But the presale entry at $0.000000186 that could have changed your entire financial trajectory will be gone the moment stages fill and confirmed exchange listings arrive. Do not be the person who saw the regulatory shift, saw the PEPE cofounder building three products, saw the $8.2 million in raised capital, and still did not act. That regret lasts much longer than any ethereum price cycle.
Click To Visit Pepeto Website To Enter The Presale
How does the ethereum price relate to Pepeto?
The ethereum price benefits from SEC clarity. Same clarity makes Pepeto’s path to exchange listings faster and safer.
Can Pepeto outperform the ethereum price?
ETH targets 90% gains. Pepeto at $0.000000186 targets 269x to 537x. Different starting points create vastly different outcomes.
Is the ethereum price environment good for presales?
Best environment ever. SEC clarity removes listing barriers. Pepeto with three products benefits directly from this shift.
Follow Pepeto on X and Telegram for community updates.
Sources: CoinDesk | Bloomberg
Tokenized Deposits Gain Ground as Banks Move Money Onchain
Banks are exploring tokenized deposits as they test ways to move commercial bank money onto blockchain-based payment and settlement infrastructure, according to a new report from real-world asset data platform RWA.io
The report, which was authored by RWA.io with contributions from industry participants including UK Finance, Citi, BNY, JPMorgan’s Kinexys, Standard Chartered, ABN Amro and Digital Asset, argues that tokenized deposits are emerging alongside stablecoins and central bank digital currencies as part of a broader onchain cash stack.
Tokenized deposits are digital representations of traditional bank deposits on blockchain or other distributed ledger infrastructure. Unlike many stablecoins, they are direct liabilities of the issuing bank and sit within existing banking frameworks, including deposit insurance, capital requirements, and Anti-Money Laundering and Know Your Customer rules.
The report points to a growing set of bank pilots and deployments in Europe. In January, Lloyds Banking Group and Archax said they completed the UK’s first public blockchain transaction using tokenized deposits on the Canton Network, while UK Finance’s Great British Tokenised Deposit pilot is testing person-to-person marketplace payments, remortgaging and digital-asset settlement through mid-2026.
The broader push reflects how banks are trying to preserve their role in payments, treasury and deposit-taking as digital cash instruments multiply.
Tokenized deposits as a middle ground in the stablecoin, CBDC debate
UK Finance said in the report that tokenized deposits will play a vital role in a future “multi-money” world. The industry group said tokenized deposits will complement other forms of digital money, “including privately and potentially publicly issued monies.”
Related: BNY launches tokenized deposits amid TradFi rush into blockchain and crypto
Marko Vidrih, the co-founder and chief operating officer at RWA.io said that while much of the attention in digital money focuses on stablecoins or central bank digital currencies (CBDCs), the global financial system still runs on commercial bank money.
“Bringing that money onto digital rails will underpin the next generation of digital finance,” Vidrih said. “For that reason, it is important to understand how tokenized deposits fit within the broader digital money ecosystem alongside stablecoins and CBDCs.”
ECB advances digital euro work, builds tokenized money rails
The European policy backdrop is moving in parallel. The European Central Bank is advancing work on a digital euro as US dollar-backed stablecoins continue to dominate digital asset markets and cross-border transactions.
The ECB recently opened applications for experts to contribute to workstreams focused on how a digital euro would function across ATMs, payment terminals and acceptance infrastructure. The ECB has also said it aims to begin a 12-month pilot for the digital euro in the second half of 2027.
In March, the European Central Bank unveiled Appia, its long-term plan for how tokenized financial markets in Europe could work using central bank money. A key part of that plan is Pontes, a new settlement mechanism designed to let blockchain-based financial platforms connect to the Eurosystem’s existing payment infrastructure.
That existing infrastructure is known as TARGET Services, which already processes large-value euro payments, securities settlement and instant payments across Europe. The ECB said Pontes is scheduled to launch in the third quarter of 2026, while feedback gathered through Appia’s consultation process will help shape the wider framework for Europe’s tokenized financial system.
Magazine: Are DeFi devs liable for the illegal activity of others on their platforms?
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy https://cointelegraph.com/editorial-policy
Fidelity Presses SEC Crypto Task Force for On-Chain Settlement Clarity
Fidelity pushes for clearer crypto rules as regulators weigh market structure changes, signaling rising momentum toward integrating digital assets into traditional finance while exposing key gaps in oversight, custody, and trading system alignment. Fidelity Urges Clearer Crypto Rules for US Market Structure Momentum is building around incorporating digital assets into U.S. market infrastructure as Fidelity […]
SoFi’s $1.6 Billion EBITDA Target: The Path to Fintech Profitability
SoFi Technologies achieved a significant milestone in Q4 2023: GAAP net income profitability. This was the first quarter in the company’s history that it generated positive earnings under generally accepted accounting principles—not adjusted EBITDA, not non-GAAP metrics, but actual GAAP profit. Sustaining and growing this profitability through 2025 and 2026 is the central focus of SoFi’s financial strategy and a key differentiator versus other publicly traded neobanks and fintech lenders.
EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) is an important intermediate metric that bridges SoFi’s operating performance to GAAP profitability. SoFi’s adjusted EBITDA reached profitability earlier than GAAP net income—a common pattern for growth companies with significant D&A from acquisitions (Galileo, Technisys) and stock-based compensation. Understanding the relationship between SoFi’s EBITDA and GAAP profitability, and the trajectory of each, is essential for evaluating SoFi’s financial evolution.
SoFi’s EBITDA Structure
SoFi reports adjusted EBITDA as its primary non-GAAP profitability metric, excluding stock-based compensation, depreciation and amortization, restructuring charges, and other items management considers non-recurring. Adjusted EBITDA reached positive territory for SoFi in 2022 and has grown consistently since, reaching approximately $200-250 million in 2024.
The largest reconciling items between adjusted EBITDA and GAAP net income are stock-based compensation and depreciation/amortization from acquisitions. SoFi’s acquisition of Galileo ($1.2 billion) and Technisys ($1.1 billion) created substantial intangible assets that are amortized over their useful lives. This non-cash amortization reduces GAAP income without representing actual cash outflow, which is why EBITDA (which adds D&A back) shows better performance than GAAP net income.
Stock-based compensation is the other major reconciling item. SoFi, like most tech and fintech companies, compensates executives and employees partly through equity. Stock-based compensation is a real economic cost (it dilutes shareholders) but is non-cash, which is why it is excluded from adjusted EBITDA. SoFi’s stock-based compensation has been a meaningful percentage of revenue but declining as a share over time as the company has focused on efficiency.
Path to Sustained GAAP Profitability
SoFi’s GAAP profitability in Q4 2023 was driven by several converging factors: net interest income growth from deposit-funded lending, Technology Platform revenue growth, Financial Services segment scaling, and operational cost discipline. Each of these factors is expected to continue improving through 2025-2026, supporting sustained and growing GAAP profitability.
Net interest income (NII) is the primary driver of SoFi’s profitability improvement. NII is the spread between the interest earned on loans and the interest paid on deposits. Before obtaining a bank charter, SoFi funded loans through warehouse credit lines and whole loan sales at higher costs. After the charter, SoFi funds loans with customer deposits at substantially lower costs. SoFi’s deposit base has grown to $24+ billion, enabling it to self-fund a large share of its loan portfolio at deposit rates rather than wholesale rates.
The net interest margin improvement from deposit funding versus wholesale funding is estimated at 100-200 basis points on the funded portion of loans. On a loan portfolio of $20+ billion, this margin improvement represents $200-400 million in additional annual NII. This structural cost of funds advantage is the most important driver of SoFi’s improving profitability and is durable as long as SoFi maintains and grows its deposit base.
Technology Platform’s EBITDA Contribution
Galileo and Technisys contribute meaningfully to SoFi’s EBITDA through recurring B2B revenue with relatively fixed cost structures. Technology Platform revenue of $400+ million (2024 estimate) flows through to EBITDA at higher margins than Lending because the incremental cost of processing additional accounts is low. As Galileo adds accounts and Technisys signs new clients, Technology Platform’s EBITDA contribution grows without proportional cost increases.
The 2026 Technology Platform contribution to consolidated EBITDA is expected to reach $150-200 million, up from approximately $100 million in 2024. This growth reflects new client signings, existing client account growth, and margin improvement as the platforms achieve operating scale.
Financial Services Segment’s Path to Profitability
SoFi’s Financial Services segment (banking, investing, insurance) has been investing in growth at a loss. The segment’s revenue has grown rapidly but so have its costs, reflecting customer acquisition marketing, product development, and infrastructure. The segment moved toward breakeven in 2024 and is expected to reach EBITDA profitability in 2025.
Financial Services EBITDA profitability is significant because it validates the cross-sell model. If the financial services products (checking, savings, investing) can be operated profitably at scale after accounting for acquisition costs, SoFi’s multi-product strategy creates compounding economic value. Each profitable Financial Services account that also has a loan creates contribution to both segments—a virtuous cycle that improves unit economics with scale.
2026 EBITDA and EPS Outlook
SoFi’s management has guided toward continued EPS growth in 2025 and 2026. Analyst consensus for 2026 adjusted EBITDA is approximately $600-700 million, representing significant growth from 2024’s $200-250 million. GAAP EPS for 2026 is estimated in the $0.25-0.35 range, reflecting the dilution impact of stock-based compensation and D&A but showing clear positive trajectory.
The key risks to SoFi’s EBITDA trajectory are interest rate sensitivity (rate changes affect NII), credit quality (loan losses reduce net income), and competitive pressure on deposits (if SoFi must raise deposit rates to retain deposits, NII compresses). SoFi’s management has been transparent about these risks and has hedged interest rate exposure partially through fixed-rate loan positioning.
Profitability as Competitive Differentiation
SoFi’s GAAP profitability distinguishes it from all other US-listed neobanks and most fintech lenders. Robinhood has achieved profitability in strong market environments but has not demonstrated consistent GAAP profitability across market cycles. Affirm has not achieved GAAP profitability. Chime is pre-IPO and pre-GAAP-profitability. SoFi’s demonstrated profitability supports its equity valuation and reduces the execution risk that investors assign to unprofitable fintech peers.
For long-term investors evaluating the US neobank space, SoFi’s profitability makes it the clearest expression of what a successful fintech bank can look like: bank charter enabling low-cost deposits, diversified financial products with strong cross-sell, B2B infrastructure creating recurring revenue, and a customer base of high-quality borrowers. Whether SoFi’s valuation appropriately reflects these advantages relative to traditional banks and fintech peers is the investment question—but the fundamental business quality is not in question for a company delivering GAAP net income growth.
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Jamie Dimon on AI Job Losses: ‘Legitimate’ Concern Requires Retraining, Reskilling, and Government Action
Appearing in a recent Bloomberg TV interview, the chairman and CEO of JPMorgan Chase & Co., Jamie Dimon, examined artificial intelligence (AI) and outlined how his bank is deploying the technology across a wide range of functions. Dimon points to the potential gains AI may bring while also acknowledging a key concern: entire segments of […]
US Digital Advertising Regulation: Privacy, Transparency and the Policy Landscape
For two decades, digital advertising expanded almost entirely on its own terms — self-regulated, data-hungry, and largely invisible to the consumers whose attention it was buying. That era is ending. The regulatory environment around US digital advertising is tightening from multiple directions at once: state privacy laws, federal scrutiny, browser changes, and court-ordered restrictions on the industry’s largest players.
Unlike Europe, where the General Data Protection Regulation (GDPR) established a comprehensive federal privacy framework in 2018, the United States has not enacted federal privacy legislation as of 2025. Instead, the US regulatory environment is a patchwork of state laws, FTC enforcement actions, and self-regulatory industry standards—supplemented by major legal actions against large platform companies.
State Privacy Laws
California’s Consumer Privacy Act (CCPA), effective January 2020, was the first comprehensive state privacy law in the US. CCPA gives California residents rights to know what personal information is collected about them, to delete it, to opt out of its sale to third parties, and to non-discrimination for exercising these rights. CCPA was strengthened by the California Privacy Rights Act (CPRA), approved by voters in November 2020 and effective January 2023. CPRA added rights to limit use of sensitive personal information, to correct inaccurate data, and created the California Privacy Protection Agency to enforce the law.
For digital advertisers, CCPA/CPRA has significant implications. Selling consumer data to third parties requires providing opt-out rights. Sharing data for behavioral advertising may constitute a “sale” under CPRA’s broad definition. Advertisers operating in California—effectively any US advertiser with California customers—must provide opt-out mechanisms, honor opt-out signals (including the Global Privacy Control browser setting), and document their data sharing practices.
Following California’s lead, over 15 states have enacted comprehensive privacy laws as of 2025, including Virginia, Colorado, Connecticut, Texas, Florida, Oregon, Montana, and others. These laws have similar structures—consumer rights to access, correct, and delete data; opt-out rights for targeted advertising—but differ in important details around enforcement, scope, and exemptions. The patchwork creates compliance complexity for national advertisers who must navigate multiple state frameworks simultaneously.
Federal comprehensive privacy legislation has been proposed multiple times (American Data Privacy and Protection Act, etc.) but has not passed as of 2025. Industry observers expect eventual federal legislation that would preempt state laws, though the timeline remains uncertain. Federal legislation would simplify compliance but might also establish nationwide standards that are more or less restrictive than the most stringent state laws.
FTC Enforcement and Digital Advertising
The Federal Trade Commission regulates advertising practices under its authority to prevent deceptive and unfair trade practices. The FTC’s enforcement actions in digital advertising have focused on disclosure requirements for sponsored content, data broker practices, and children’s privacy.
The FTC’s endorsement and testimonial guidelines, updated in 2023, require material connections between advertisers and endorsers to be clearly disclosed. For influencer marketing, this means creators must disclose when they are paid or receive free products to promote brands. The FTC has issued warning letters to influencers and brands for inadequate disclosure and has brought enforcement actions against companies with systematic disclosure failures. Most social platforms now require disclosure labels for paid partnerships, partially in response to FTC guidance.
Children’s Online Privacy Protection Act (COPPA) prohibits collecting personal information from children under 13 without verifiable parental consent. The FTC proposed COPPA rule updates in 2023 that would strengthen restrictions and expand protections for children’s data in advertising contexts. For platforms with child users—YouTube Kids, gaming platforms, and any service with significant under-13 traffic—COPPA compliance directly constrains advertising data practices.
Antitrust Enforcement Against Ad Tech
The most significant regulatory action in US digital advertising is the Department of Justice antitrust case against Google’s advertising technology business. Filed in January 2023, the DOJ alleged that Google illegally monopolized the publisher ad server market, the ad exchange market, and the advertiser ad network market through anticompetitive conduct. The conduct alleged included tying its publisher ad server to its exchange, implementing “Project Poirot” to reduce competing exchanges’ revenues, and acquiring companies to foreclose competition.
In August 2024, a federal judge ruled that Google holds monopoly power in the publisher ad server market and the ad exchange market. The liability ruling found that Google’s practices of tying Google Ad Manager (publisher server) to Google AdX (exchange) foreclosed competition. The remedy phase began in 2025, with the DOJ and states seeking structural remedies including potential forced divestiture of Google Ad Manager and/or Google AdX.
The outcome of this case will reshape the programmatic advertising ecosystem. If Google is required to divest ad tech assets, independent SSPs (Magnite, PubMatic) and independent exchanges would gain access to inventory currently flowing primarily through Google. Publisher yields might increase as competition intensifies. Advertisers would benefit from more choice in ad tech vendors and potentially lower take rates in the supply chain.
Platform Privacy Changes as Quasi-Regulation
While technically not government regulation, Apple’s App Tracking Transparency (ATT) and Google’s Privacy Sandbox have functioned as quasi-regulatory changes because their impact on advertising practices is as significant as any government rule. Both are driven by privacy principles but have competitive implications that have drawn regulatory scrutiny themselves.
Apple’s ATT requires explicit opt-in for cross-app tracking on iOS. With opt-in rates of 25-35% in the US, 65-75% of iOS users are not tracked across apps. This has reduced signal availability for Meta, Snap, and other platforms that relied on iOS device identifiers for audience targeting and conversion measurement. The impact on Meta’s advertising revenue was estimated at $10 billion in 2022 alone.
Google’s Privacy Sandbox proposes to deprecate third-party cookies in Chrome and replace them with privacy-preserving APIs. Google has repeatedly delayed this deprecation while working with publishers, advertisers, and regulators (including the UK’s Competition and Markets Authority) to develop acceptable alternatives. The CMA is monitoring Google’s Privacy Sandbox implementation to ensure it does not anticompetitively benefit Google’s own advertising business at the expense of competitors.
The Impact on Advertising Practice
The cumulative impact of state privacy laws, FTC enforcement, antitrust actions, and platform privacy changes is a meaningful constraint on behavioral targeting and cross-site tracking in US digital advertising. Practices that were standard five years ago—third-party cookie-based retargeting, device fingerprinting, cross-app behavioral tracking—are now restricted, prohibited, or require explicit consent.
Advertisers are adapting by investing in first-party data, contextual targeting, and consent management. First-party data—customer information collected with consent from brand-owned properties—is exempt from most third-party data restrictions. Brands building strong CRM systems, loyalty programs, and authenticated digital experiences are developing durable targeting capabilities that do not depend on third-party tracking.
Contextual advertising—targeting based on the content of the page or app where ads appear rather than user behavioral history—is experiencing a renaissance. AI-powered contextual targeting can achieve relevance comparable to behavioral targeting for many advertising objectives without requiring individual user data. Publishers with clear content signals and engaged authenticated audiences are benefiting from contextual advertising’s growth.
Future Regulatory Outlook
The US digital advertising regulatory landscape will continue evolving. Federal privacy legislation is likely eventually, though the timeline is uncertain. State laws will continue to multiply in the absence of federal preemption. FTC enforcement priorities around AI-generated advertising, children’s data, and platform data practices will intensify. The Google ad tech antitrust remedy will establish precedent for structural remedies in platform markets.
The long-term direction is toward more privacy, more transparency, and more competition in digital advertising. This transition will advantage advertisers with strong first-party data, publishers with authenticated audiences, and ad tech companies that can deliver performance without cross-site tracking. It will disadvantage businesses that have relied primarily on third-party data and opaque supply chains. Adapting to this regulatory direction is not optional—it is a prerequisite for sustainable digital advertising practice.