Michael Saylor’s bitcoin U-turn, XRP and XLM stablecoin moves, and big Canton Network funding

Crypto markets may be stuck in a bear phase, but behind the scenes the infrastructure for the next cycle is being built at full speed. From Michael Saylor’s controversial bitcoin comments to major moves in stablecoins, tokenization, and institutional blockchain networks, there’s a lot happening that long-term investors should understand.

Michael Saylor’s bitcoin “never sell” controversy

Michael Saylor, the executive most closely associated with corporate bitcoin accumulation, is facing heavy criticism after appearing to walk back years of absolutist “never sell” messaging.

On stage at a recent event, Saylor claimed he had only ever told individuals to never sell their personal bitcoin, and that he never said his company would never sell. He also suggested that anyone following MicroStrategy’s earnings calls or disclosures would know the company could sell BTC if needed.

The backlash stems from the fact that there are numerous past interviews and articles in which he strongly implied – or outright stated – that his company would not sell its bitcoin holdings. At the same time, MicroStrategy recently sold a small portion of its stack (around 32 BTC), contradicting the spirit of those earlier statements.

The amount sold is trivial relative to the company’s holdings, and there’s nothing inherently wrong with a firm adjusting its strategy. The issue is credibility: when a public figure spends years telling people to mortgage their homes, go all-in on bitcoin, and promising to “never sell,” then later denies ever saying it, it raises red flags. It’s a reminder not to treat any single personality as a crypto “prophet” and to always do your own research.

For more background on Saylor’s positioning and MicroStrategy’s exposure, see this deeper look at MicroStrategy’s bitcoin drawdown.

BlackRock’s new bitcoin premium income ETF

While Saylor’s comments stir debate, Wall Street is quietly expanding its bitcoin product lineup. BlackRock has filed an 8-A form for a new Bitcoin Premium Income ETF, a step that typically signals a launch within about a week, according to Bloomberg ETF analysts.

This product is expected to focus on generating yield from bitcoin exposure, potentially through options strategies or other income-generating techniques. If it delivers attractive, relatively stable income on top of BTC price exposure, it could become a serious competitor to MicroStrategy’s “levered bitcoin on a balance sheet” narrative.

More broadly, it’s another sign that spot ETFs were just the beginning. Traditional finance giants are now building layers of structured products, yield strategies, and income funds around bitcoin, making it easier for institutions and conservative investors to get tailored exposure.

Hungary reverses course and decriminalizes crypto trading

On the regulatory front, Hungary is set to decriminalize bitcoin and crypto trading, reversing harsh rules introduced under former leader Viktor Orbán. Those rules had tightened requirements for converting between crypto and fiat or even crypto-to-crypto, and attached potential jail time for violations.

Rolling back these measures is a clear signal that Hungary doesn’t want to be left behind as global capital markets move onto blockchain rails. Countries that try to ban or criminalize crypto risk handicapping their own financial sectors as tokenized assets, stablecoins, and blockchain-based settlement become standard.

Visa, MasterCard, Coinbase, and MassPay race on stablecoins and AI payments

Stablecoins are rapidly becoming the backbone of new payment rails, and the big card networks are all-in.

Visa reports that it already moves around $7 billion per year in stablecoins through its network. The company is expanding stablecoin settlement, working on tokenized deposits, and partnering with OpenAI to enable AI agents to initiate and manage payments autonomously.

MasterCard is pursuing a similar path, building out partnerships with firms like Coinbase and Ripple to support AI-driven payments and blockchain-based settlement. The two payment giants are effectively racing to become the default rails for programmable money.

Meanwhile, cross-border payout platform MassPay has partnered with Coinbase to offer stablecoin payouts in over 180 countries. Through Coinbase’s infrastructure, MassPay customers can move between fiat, USDC, and other digital assets, making global payouts faster and cheaper than traditional correspondent banking.

Taken together, these moves show that stablecoins are no longer a niche DeFi tool—they’re becoming a core part of global payments infrastructure.

Ripple, Bitso, and XRP Ledger: stablecoins in Latin America

In Latin America, Ripple and crypto exchange Bitso are deepening their long-standing partnership. Bitso’s MXN-backed stablecoin, MXNB, is being brought onto the XRP Ledger to support enterprise-grade stablecoin settlement across the region.

Launching a stablecoin is only half the battle; adoption depends on network effects, liquidity, and integrations. Bitso already has a strong presence in Mexico and Latin America, while Ripple provides cross-border payment tech and institutional relationships. Putting MXNB on the XRP Ledger helps connect local fiat liquidity with global on-chain rails.

This is part of a broader trend where XRP Ledger is increasingly used for stablecoins and tokenized assets, not just XRP itself. For a related angle on how national stablecoin initiatives can intersect with Ripple’s tech, see this analysis of Japan’s yen stablecoin plans and XRP.

Stellar’s quantum-resistance roadmap for XLM

The Stellar Development Foundation has announced a quantum preparedness plan that aims to migrate all XLM accounts to quantum-resistant signatures by the end of 2027, while preserving existing addresses and transaction history.

Quantum computing isn’t an immediate threat to today’s blockchains, but it’s a real long-term concern. Many systems, including banks and critical infrastructure, rely on cryptography that could eventually be weakened by powerful quantum machines. By proactively upgrading to quantum-resistant schemes, Stellar is trying to future-proof its network and protect user funds before the threat becomes urgent.

Other blockchains are exploring similar upgrades, and over the next decade “post-quantum” security is likely to become a standard requirement for serious financial networks.

Canton Network and Digital Asset raise $355M

On the institutional side, the team behind the Canton Network just secured a massive funding round. Digital Asset, the company developing Canton, raised $355 million at a $2 billion valuation, led by Andreessen Horowitz (a16z) with participation from heavyweights like ABN AMRO, Apollo Funds, BNP Paribas, Citadel Securities, HSBC, SBI Group, and Abu Dhabi Investment Authority.

Canton is designed as an institutional-grade blockchain network aimed at bringing Wall Street on-chain. The caliber of investors involved—major banks, asset managers, and trading firms—shows how seriously traditional finance is taking tokenization and blockchain-based settlement.

Importantly, this funding comes in the middle of a bear market, when most altcoins are down significantly. Big institutions are clearly not waiting for the next bull run; they’re building infrastructure now, expecting tokenized assets and on-chain capital markets to be a core part of the next financial era.

Tokenization push: Citi’s marketplace for private shares

Citigroup is launching a blockchain-based marketplace for private company shares, giving wealthy and institutional investors a new way to access pre-IPO equity.

The platform will use tokenized depository receipts issued by Citi, representing ownership in private firms. Initially, it will be available to foreign investors, with U.S. access planned later. The idea is that investors will be able to hold these tokenized private shares right alongside traditional securities like Apple stock in their portfolios.

This is a concrete example of how tokenization is changing capital markets. In the future, many companies may choose to issue equity directly on-chain rather than going through traditional IPO processes. Banks like Citi are positioning themselves to be the intermediaries and infrastructure providers for that shift.

More global blockchain adoption: LG, Japan, and Avalanche

Several other developments highlight how broad blockchain adoption is becoming:

LG Electronics: The South Korean electronics giant is launching a blockchain-based network for buying and selling ads. Using blockchain for ad markets can reduce middlemen, improve transparency, and cut costs for both advertisers and publishers.

Japan’s new crypto rules: Japan’s parliament is preparing a bill that would regulate crypto under stock-style rules, with full implementation expected around 2027. The goal is to support innovation and market growth while giving investors protections similar to those in traditional securities markets.

Avalanche Treasury Company: A digital asset treasury company with AVAX on its balance sheet is set to list on Nasdaq under the ticker AVAT. This provides another route for traditional investors to gain exposure to Avalanche’s ecosystem via public markets, alongside direct token purchases and any future ETF products.

Fortune’s first Crypto 100 list

Fortune has published its first-ever “Crypto 100,” ranking leading companies across different segments of the industry. Highlights include BlackRock topping the ETF category, Franklin Templeton representing traditional finance, Coinbase leading centralized finance (CeFi), and Hyperliquid taking the top spot in DeFi.

Lists like this are more than just bragging rights—they signal that crypto is being treated as a mature, multi-segment industry similar to traditional financial sectors. As regulation firms up and more blue-chip names enter, expect these rankings to become important benchmarks for institutions and regulators alike.

New U.S. crypto theft task force proposal

In the United States, lawmakers have introduced a bipartisan bill to create a federal cryptocurrency theft task force. The group would be led by the U.S. Attorney General and include the Department of Justice, FBI, Department of Homeland Security, Treasury, and other agencies.

The task force would focus on crypto theft, fraud, and hacking. As crypto adoption grows, so does criminal activity, and existing agencies are often stretched thin or lack specialized expertise. A dedicated task force could improve coordination, speed up investigations, and help recover stolen funds.

While this bill is separate from broader regulatory efforts, it will likely complement upcoming clarity-focused legislation. Clear rules plus strong enforcement against bad actors are both essential if crypto is going to scale into a mainstream asset class and payment system.

Why all of this matters in a bear market

Prices across the crypto market remain weak, and many portfolios are deep in the red. But the news flow tells a different story: governments are legalizing and regulating crypto, payment giants are moving billions in stablecoins, major banks are tokenizing assets, and institutional networks like Canton are raising hundreds of millions of dollars.

Bear markets are when serious players build. As legislation solidifies and more on-ramps from traditional finance come online, the groundwork is being laid for what many expect to be a “super cycle” once sentiment turns. Staying focused on infrastructure, regulation, and real-world adoption can help cut through the noise of day-to-day price action.