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Welcome to The Protocol, CoinDesk’s weekly wrap-up of the most important stories in cryptocurrency tech development. We’re Margaux Nijkerk and Sam Kessler, reporters on CoinDesk’s Tech team. In this issue: Can Ethereum Be Truly Private? Developers Push for Encrypted Mempool, Default Privacy Nvidia Moves AI Supercomputer Production to U.S., Opening New Avenues for Crypto Miners MIT-Incubated Optimum Raises $11M Seed Round to Build Web3’s Missing Memory Layer Noble’s New ‘AppLayer’ Lets Developers Build Stablecoin Tools on Celestia This article is featured in the latest issue of The Protocol, our weekly newsletter exploring the tech behind crypto, one block at a…

A modest bitcoin rally to a possible challenge of the $86,000 level quickly reversed during U.S. afternoon trading hours on Wednesday as Federal Reserve Chairman Jerome Powell warned on the effects of President Trump’s tariff regime. “The level of the tariff increases announced so far is significantly larger than anticipated,” said Powell in a speech. “The same is likely to be true of the economic effects, which will include higher inflation and slower growth.” In other words, stagflation — a throwback to a sizable portion of the 1970s when the U.S. experienced weak economic activity alongside double-digit inflation. “We may…

Romain Costaseca / Hans Lucas / AFP Bitcoin bounced. A bit. The leading currency recently traded around $84,000, rising back above the prices below $77,000 seen late last week that were in the neighborhood of their pre-election levels but retreating slightly from levels logged earlier today. That recovery has come as crypto trading volume has fallen, Oppenheimer analysts wrote in a note published Tuesday, with investors’ risk appetite pressured by trade-related uncertainty that has counteracted enthusiasm about the crypto industry’s prospects after President Donald Trump’s reelection. “It’s unfortunate to see Trump’s on-and-off again tariffs have driven bear market concern, recession…

Resolv Labs, the firm behind the $450 million decentralized finance (DeFi) protocol Resolv, has closed a $10 million seed round to expand its crypto-native yield platform and USR stablecoin, the team told CoinDesk in an exclusive interview. The investment round was led by Cyber.Fund and Maven11, with additional backing from Coinbase Ventures, SCB Limited, Arrington Capital, Gumi Cryptos, NoLimit Holdings, Robot Ventures, Animoca Ventures and others. Stablecoins, a $230 billion and rapidly expanding class of cryptocurrencies with pegged prices to an external asset, are capturing attention well beyond their traditional use in payments and trading. A growing cadre of crypto…

The crypto economy has grown exponentially over the past few years, with thousands of tokens being launched daily. It is not humanly possible to keep track of every latest crypto trend and recognize the future potential. Enter Decentralized Token Folios (DTFs) — the new-age financial vehicle that packages an array of crypto tokens into a single basket. DTFs are analogous to ETFs but belong in the crypto ecosystem. The way an ETF offers you exposure to multiple stocks, a DTF puts different crypto tokens into a single on-chain index. To put it simply, a DTF exposes you to a basket…

Lordhenrivoton | E+ | Getty ImagesRetirees may think moving all their investments to cash and bonds — and out of stocks — protects their nest egg from risk.They would be wrong, experts say.Most, if not all, retirees need stocks — the growth engine of an investment portfolio — to ensure they don’t run out of money during a retirement that might last decades, experts said.”It’s important for retirees to have some equities in their portfolio to increase the long-term returns,” said David Blanchett, head of retirement research for PGIM, an investment management arm of Prudential Financial.Longevity is biggest financial riskLongevity…

Michael Saylor, executive chairman of MicroStrategy and Bitcoin’s most vocal institutional evangelist, is back with another powerful message to crypto holders – and this time he’s using just one phrase. On April 16, in an X post, Saylor shared “Bitcoin is Chess.” Earlier Saylor had shared a chart showing MicroStrategy’s MSTR price saw 133% one-year return, easily surpassing Tesla’s at 57% and Bitcoin’s at 33%. Apart from this, AI giants like Nvidia saw a return of 30% and Apple at 17%. “There is a Strategy to beat the Magnificent 7”, Saylor wrote, in reference to his company’s Bitcoin-focused investment strategy…

Washington CNN  —  President Donald Trump’s turbulent trade war could put the Federal Reserve in a difficult situation it hasn’t seen in about half a century, Chair Jerome Powell said Wednesday. “The level of the tariff increases announced so far is significantly larger than anticipated,” the central bank head said in prepared remarks for an event hosted by the Economic Club of Chicago. “We may find ourselves in the challenging scenario in which our dual-mandate goals are in tension.” The Fed is responsible for promoting full employment and keeping inflation in check, but Trump’s tariffs threaten both of those goals.…

(Bloomberg) — President Donald Trump’s crypto project World Liberty Financial has signed a new partner: A market maker that has been accused in press reports of manipulative trading activity. Most Read from Bloomberg Crypto trading house DWF Labs bought $25 million worth of World Liberty’s WLFI tokens in a “strategic private transaction,” according to a statement from the company on Wednesday. It also agreed to provide liquidity for the project’s upcoming USD1 stablecoin. “As our partner, we expect DWF Labs to help accelerate the next-generation infrastructure we’re actively building and deploying at WLFI,” Zak Folkman, co-founder at World Liberty Financial,…

In general, the economic benefits of a college education still far outweigh the high cost. However, college does not pay off for everyone, according to a new study by the Federal Reserve Bank of New York.Many factors, including how much financial aid is offered and how much students have to pay out of pocket, as well as the choice of major, future earnings potential and how long it takes to graduate, determine the actual return on investment, the Fed researchers found. Overall, “majors providing technical training — that is, quantitative and analytical skills—earn the highest return, including engineering, math and computers,” the…