AI bubble not over yet despite ‘trough of disillusionment’: AI Eye

Stablecoin regulation is “the next catalyst” for the crypto industry and could lead to unprecedented “appetite from institutional investors,” according to Ash Pampati, head of ecosystem at the Aptos Foundation.In an interview with Cointelegraph at Consensus 2025 in Toronto, Pampati said that “the whole world outside of the United States has already jumped onto this [stablecoins],” adding that “the US is […] at the doorstep.” “I really think about new use cases that can emerge because of the borderless nature of stablecoins, because of the efficiency of the dollar onchain,” he said. “If you’re trying to send money to your friend in Nigeria, why do you have to go through a bunch of hoops?”Stablecoins are often used to transfer money across borders, as they are easier and cheaper to transfer than traditional finance methods such as wire transfers. They are also used to hedge against fiat currency, which, in emerging markets, can devalue significantly in a short period of time.Related: Pareto launches synthetic dollar backed by private creditAccording to a new survey from Fireblocks, Latin America leads all regions in real-world use of stablecoins, with 71% of respondents saying they use the technology for cross-border payments. Half of respondents in the region, which encompasses a number of developing countries, say they expect stablecoins to offer lower transaction costs than traditional finance rails.“I think you will see an amazing appetite from institutional investors we can really think, rethink the fintech space across B2B, B2C with fully onchain rails,” Pampati said.86% of firms ready for stablecoinsAccording to Fireblocks’ survey, 86% of respondents say that their company shows “infrastructure readiness.” In other words, their companies are ready to adopt stablecoin. In addition, 75% of respondents say they see clear customer demand for stablecoins.Confidence indicators for stablecoin adoption. Source: FireblocksHowever, regulation still holds a large role in determining adoption. The survey shows that confidence in stablecoins is rising, not only because of the technology but also because regulatory barriers have fallen.Agencies around the world have sought to regulate stablecoins. The progress has included the European Union’s MiCA regulation, various acts in the United Arab Emirates, and even the United States’ GENIUS Act, which reports indicate has regained some bipartisan support after a failed May 8 vote.Magazine: Legal Panel: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight

The slow adoption of stablecoins in Canada has some local crypto industry observers concerned that the country is falling behind.The Canadian Securities Administrators (CSA) classified stablecoins as “securities and/or derivatives” in December 2022 after the FTX debacle that shook markets and turned many lawmakers against the crypto industry.Regulating stablecoins as a security has seen few local stablecoin issuers arise, but in the United States and the European Union, softening regulations have seen significant growth in the stablecoin market. This makes Canada, observers say, less competitive with other jurisdictions. Of particular concern is the perceived gap in peer-to-peer (P2P) payments in Canada, which stablecoins are uniquely qualified to fill. Stablecoins globally have grown significantly over the last five years. Source: DefiLlamaLocal law constrains stablecoin growth and threatens dollarIn 2022, as the crypto market reeled from the collapse of FTX and the implosion of the Terra stablecoin system, regulators worldwide began to look more critically at the crypto space. In Canada, the CSA updated regulations for crypto exchanges and brought stablecoins under its purview, classifying them as securities/derivatives. This hasn’t been a popular decision with Canada’s crypto industry.Morva Rohani, founding managing director of the Canadian Web3 Council, told Cointelegraph that the CSA’s case-by-case basis for considering stablecoin issuers and the lack of a federal framework make for a “patchwork” regulatory regime.“Canada’s reliance on securities law to regulate payment stablecoins introduces significant legal and operational uncertainty,” she said.Tanim Rasul, chief operating officer of Canadian crypto exchange NDAX, said that the CSA “got it wrong,” stating that other regulatory frameworks, like the EU’s Markets in Crypto-Assets (MiCA) law, were more appropriate. “I would just say, look at MiCA, look at the way they’re approaching stablecoins. It’s a payment instrument. It should be regulated as such,” he told a crowd at the Blockchain Futurist Conference in Toronto on May 13. It’s not just the EU. Singapore and the UAE have also introduced regulatory frameworks for stablecoins, and US senators are optimistic they will pass a stablecoin law by May 26.Related: What are the next steps for the US stablecoin bill?Rohani said Canada is “out of step with leading global jurisdictions […] which have adopted tailored, prudential frameworks that recognize stablecoins as payment instruments.”This lack of alignment with other, more pro-stablecoin jurisdictions could have negative effects for the Canadian dollar (CAD), some worry.Som Seif, founder of Canadian investment firm Purpose Financial, said that the proliferation of other major stablecoins, mostly denominated in the US dollar, could threaten the use of the loonie (a nickname for the Canadian dollar) at home. “If Canada does not create the regulatory framework and environment that encourages the development of CAD stablecoins, consumers and businesses will default to using USD-pegged alternatives, eroding the relevance of CAD in global markets,” he said.Stablecoins provide cheaper P2P payments but reputation is also a roadblockMembers of the Canadian crypto industry have stated that stablecoins have a role to play in the country as well, given the purported lack of P2P payment networks available in the country. Speaking to Cointelegraph on May 13, Coinbase Canada CEO Lucas Matheson said, “It’s really important that we have a stablecoin for Canadians.” He said that the only options currently open were wire transfers, which “cost $45 and take 45 minutes of paperwork.” Rohani said that Interac e-Transfer, a Canadian funds transfer service, “remains the primary domestic P2P rail, operating through banks and credit unions.”Related: Stablecoins seen as ideal fit for real-time collateral managementCanada does have apps like PayPal and Wise, which support international P2P transfers, but those often come with high commissions and slow settlement times compared to stablecoins.Rohani said that while some crypto platforms allow for P2P transfers, they’re not widely used due to a lack of integration into mainstream financial services. Demand for more and different digital payment methods is growing in Canada, according to the 2024 digital payments report from Payments Canada, the owner and operator of Canada’s payment clearing and settlement infrastructure.But that demand may not translate directly into stablecoins. Crypto’s “journey towards financial integration among Canadians remains a distant prospect,” the report reads. Some 91% of Canadians have never used crypto as a payment. Ease of use and security were top priorities for international payment users. Source: Payments CanadaPayments Canada attributes the lack of interest to the assets being perceived as the “least secure payment method among Canadians compared to alternatives such as cash, credit cards, cheques, wire transfers and PayPal.”Even in the context of a central bank digital currency, which the crypto industry generally regards as a less favorable option to private, fiat-denominated stablecoins, interest just isn’t there. The survey found that 85% of respondents “did not envision themselves using a digital Canadian dollar and preferred their existing payment methods.”Is PM Carney pro-crypto?If more tailor-made regulations could integrate stablecoins with the mainstream payment options Canadians are comfortable with, it would still take a concerted effort from policymakers in Ottawa, where the Liberals have just won the federal elections.The crypto industry had cause for doubt. Liberal Prime Minister Mark Carney has previously expressed skepticism about cryptocurrency. In a speech as Governor of the Bank of England, he said they had failed as money. Still, he acknowledged stablecoins have a role to play in retail and wholesale payments. He said in 2021 that stablecoins should have access to central bank balance sheets — but only if strong protections were in place. “There’s been two systemic crises in money funds in little more than a decade […] In baseball, it’s three strikes and you’re out. In cricket, it’s only the equivalent of one. For systemic payment systems, one is too many,” Carney stated.Kohani said, “With Mark Carney at the helm of the Liberal Party, we anticipate a pragmatic but regulation-first approach to crypto and stablecoins.”While his previous openness toward stablecoins suggests he’s open to the technology, he also “emphasizes the need for regulation, oversight and safeguards.”Another Liberal term, per Kohani, will likely mean the CSA continues to lead enforcement but could result in broader policy work, including a framework on stablecoins, “particularly if positioned as a tool for payments modernization and maintaining the relevance of the Canadian dollar.” Magazine: Danger signs for Bitcoin as retail abandons it to institutions: Sky Wee

After the 2024 halving, Bitcoin mining entered its fifth epoch and block rewards were reduced from 6.25 BTC to 3.125 BTC. This forced miners to rethink their operations, optimize efficiency, cut energy costs and upgrade hardware to remain profitable. Cointelegraph Research, with insights from industry experts at Uminers, examines this transformation in its latest report. The analysis covers ASIC efficiency improvements, corporate performance, geographical expansion and new revenue models. As miners adapt, Bitcoin moves into a new era where institutional momentum and sovereign adoption could redefine its role in the global financial system.Download the full report to uncover how miners are navigating this shift and what the future holds for Bitcoin’s mining industry.The mining industry’s response to rising hashrate and shrinking marginsDespite the adverse financial impact of the halving, Bitcoin’s network hashrate has continued to climb. As of May 1, 2025, the total computational power of the network reached 831 EH/s. Earlier in the month, hashrate peaked at 921 EH/s, marking a 77% increase from the 2024 low of 519 EH/s. This rapid recovery underscores the industry’s relentless drive for efficiency as larger mining firms reinvest in fleet upgrades and energy optimization to maintain profitability.The mining arms race has always revolved around power efficiency. With energy costs rising, the latest ASIC models from Bitmain, MicroBT and Canaan are further optimizing the energy required per hash. Bitmain’s Antminer S21+ delivers 216 TH/s at 16.5 J/TH, while MicroBT’s WhatsMiner M66S+ pushes immersion-cooled performance to 17 J/TH. Meanwhile,  semiconductor giants TSMC and Samsung are driving the next wave of innovation, with 3-nm chips already in use and 2-nm technology on the horizon. Post-halving profitability: The global shift toward low-cost energyBitcoin mining profitability has tightened significantly post-halving. Hashprice, the daily revenue per terahash per second, dropped from $0.12 in April 2024 to about $0.049 by April 2025. At the same time, network difficulty has surged to an all-time high of 123T, making it harder for miners to generate returns. To stay competitive, operations must extract maximum value from every watt of power consumed. This shift has intensified the search for cheap, reliable power, driving mining expansion into regions where energy costs remain low.Electricity pricing now dictates mining profitability. In Oman, licensed miners benefit from government-backed subsidies, securing electricity at $0.05–$0.07 per kWh, while in the UAE, semi-governmental projects operate at even lower rates of $0.035–$0.045 per kWh. These incentives have turned the region into a prime destination for institutional-scale mining. Meanwhile, in the US, where industrial power costs often exceed $0.1 per kWh, miners face shrinking margins, forcing a migration toward more cost-efficient locations. Africa, the Middle East and Central Asia have emerged as key battlegrounds in this race, offering the energy arbitrage opportunities miners need to survive.Download the full report to uncover how miners are navigating this shift and what the future holds for Bitcoin’s mining industry.What’s next for Bitcoin mining?The 2024 halving has reinforced a hard truth: Efficiency is no longer optional; it’s a necessity. The industry is shifting toward leaner, more optimized operations, where only the most power-efficient miners can thrive. The rise of AI computing, global regulatory shifts and ongoing hardware advancements will continue to shape the sector over the next 12–18 months.Cointelegraph Research’s Bitcoin mining report: Post-halving insights and trends offers a data-driven breakdown of the key forces shaping mining profitability, infrastructure investments, and strategic decision-making.Download the full report to uncover how miners are navigating this shift and what the future holds for Bitcoin’s mining industry.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph. Cointelegraph does not endorse the content of this article nor any product mentioned herein. Readers should do their own research before taking any action related to any product or company mentioned and carry full responsibility for their decisions.