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Hedera, XRP, and Stellar posted some of the strongest returns among 20 tracked index constituents last quarter. The three assets rallied 367%, 240%, and 237%, respectively.
That performance did not happen in a vacuum. These assets spent years under intense regulatory scrutiny, with authorities frequently labeling them as securities. That pressure tested their networks, their communities, and their staying power, and they endured it.
However, the assets still performed, and now the environment is shifting.
The document pointed directly to this shift, noting that “with a more favourable regulatory environment expected under the new U.S. administration, these assets are likely to operate with less regulatory scrutiny.”
These three assets faced more regulatory pressure than most of the market and survived it. Now they stand to benefit directly from the policy shift underway in the U.S. The evidence from last quarter’s performance supports that view.
#Stellar
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Elon Musk will virtually attend a closed door technology conference run by ASML Holding NV to discuss his Terafab project, which the chip-equipment maker considers a “serious endeavor.” ASML invited Musk to speak to employees about Terafab, a SpaceX-Tesla joint venture to produce cutting-edge chips for robotics, AI and space data centers.
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OpenAI CEO Sam Altman and the White House are in ongoing talks about a possible government stake in the AI company. The discussions have been in progress for more than a year, as Altman first shared the idea with the Trump administration in 2025.
The talks continued this week as Altman met with a range of lawmakers and officials in Washington about regulation and the latest developments in AI. As part of the potential agreement, OpenAI could donate equity to the U.S. government to seed something like the “Public Wealth Fund”.
“The fund could invest in diversified, long-term assets and would enable citizens to participate in the “upside” of AI growth, possibly by receiving the fund’s returns directly,” — OpenAI said.
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Innovega, a company known for its augmented-reality contact lens technology, has turned its focus to a different product for now: smart glasses for people who are visually impaired. Nearly 300 million people worldwide who’ve lost a significant amount of their vision, leaving them unable to read a menu, for example, or recognize a face across the room.
“The goal is to substantially change the quality of life and independence of tens of millions of people in the U.S. and hundreds of millions globally,” — said Steve Willey, Innovega’s CEO and co-founder.
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A new coalition is forming, focused on crypto vaults, an increasingly popular mechanism for depositing digital assets and earning yield.
The Crypto Council for Innovation launched the Vault Coalition, with backing led by Galaxy and Morpho. BitGo, a16z, the Avalanche Policy Coalition, and Sharplink are also part of the coalition.
“We are at an inflection point," — said Morpho General Counsel Christopher Robins in the statement. "Institutional participants are prepared to deploy, but they require a clear legal roadmap to move forward. The Vault Coalition exists to transform industry expertise into the foundational standards the market demands."
Regulators in the U.S. have opened doors for digital assets amid a friendlier administration to the industry. Over the past year, the SEC has put forth a token taxonomy to clarify its stance on cryptocurrencies. SEC Chair Paul Atkins has also embarked on "Project Crypto" to update the agency's rules around digital assets.
CCI also references a speech Atkins made last month, where he said the agency needs to clarify how its regulatory framework applies to software applications and specifically called for clarity around crypto vaults.
The new coalition will focus on writing legal analysis, developing policy principles, and focusing on its regulatory treatment, CCI said.
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Governor JB Pritzker issued an order pausing state tax incentives for data centers in Illinois after the state legislature stalled his plan to keep data-center energy costs from affecting local residents’ bills. Pritzker said his order was in response to the legislature’s failure to raise data centers’ electricity rates, given their high energy usage, which he asked them to do in February.
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Elisa, a Finnish telecommunications company, has installed detection equipment on its undersea cables to monitor the critical infrastructure. The system is based on Distributed Acoustic Sensing (DAS), which turns the undersea cable into a long sensor that registers vibrations coming from the sea floor.
"The protection of undersea infrastructure is a nationally important task. The recent cable breaks in mind, we have built a solution that provides an early warning of an approaching threat,” — Elisa New Business Director Jouni Petrow said. “Our goal is to use the early warning system to alert the authorities even before the first damage occurs."
The system has since been successfully tested, and it’s now being developed to automatically inform the Finnish Border Guard and the Finnish Navy, as well as the owner of the cable, of any irregularities.
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Voters in Armenia go to the polls in parliamentary elections Sunday that will determine whether Prime Minister Nikol Pashinyan can secure a mandate for a sweeping reorientation of the country toward Europe. Preliminary results expected later in the evening. There are 18 parties competing for at least 101 seats in the National Assembly.
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South Korean President Lee Jae Myung nominated SME and Startup Minister Han Seong-sook as prime minister, betting the tech industry veteran will help the country realize its AI ambitions.
"Han, a former CEO of Naver Corp. and one of Lee’s first Cabinet appointees, was chosen to lead the country’s AI transformation and growth because of her IT background and experience heading the SME ministry," — Chief of Staff Kang Hoon-sik said.
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Nvidia Corp. Chief Executive Officer Jensen Huang said its new Vera central processing units will use SK Hynix Inc.’s memory chips as the two companies prepare to do more business in the coming year.
“We had a very big year this year with SK Hynix, and we are preparing for a very, very large second half of the year and next year,” — Huang said. “We introduced Vera CPU, which is a revolutionary CPU, and it will also use SK Hynix’s DRAM.”
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OpenAI is planning its biggest ChatGPT overhaul yet, aiming to turn it into a "superapp" with coding tools and AI agents. The company’s goal is reportedly to become more competitive with Anthropic, particularly among business customers, and to get closer to profitability before an IPO.
“The company is working towards a product where you have your own personal agent that is capable of helping you … across everything in your life, be it personally or at work,” — said Thibault Sottiaux, who leads OpenAI’s core product and platform
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Ames National Laboratory and Indium Corporation have announced a new research and development partnership aimed at expanding gallium production in the U.S. Gallium is considered an essential material for several high-tech industries, but the U.S. currently depends almost entirely on foreign sources.
The new partnership will use Ames Lab’s automation and AI capabilities to develop a more efficient way to separate and extract gallium from existing industrial processes. The move could help strengthen domestic supply chains for semiconductors, LED lighting, and other advanced technologies.
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A proposal by a Kevin O’Leary-backed firm to build Canada’s largest data center in northwestern Alberta is facing pushback from some residents and Indigenous groups.
Hundreds of people poured into the community hall in the hamlet of Grovedale, Alberta, to hear from O’Leary Digital Ltd. officials and their contracted experts last week. The company wants to build a 7.5 gigawatt data center called Wonder Valley in the region, which is about 300 miles northwest of the provincial capital of Edmonton.
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UK Prime Minister Keir Starmer will promise to prevent any community from being left behind in the “tech revolution” by using AI tools to help people find work. Starmer will pledge to back AI for business while using online tools to deliver personalized career advice, according to a Downing Street release.
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Hyundai Motor Group Metaplant America (HMGMA) and Kia America (KUS) celebrated the start of production for its newest vehicle, marking three major milestones for the advanced manufacturing facility: the first Kia model, the first hybrid electric vehicle (HEV), and the third vehicle to be produced at the site.
This event expands the nearly two-decade commitment by Kia America to produce award-winning vehicles in the state of Georgia. Kia’s West Point factory currently assembles the all-new 2nd generation Telluride, all-electric EV9 and EV6, and internal combustion powered versions of the popular Sportage and Sorento SUVs.
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