Financial Industry on the Brink of Radical Transformation

The financial industry is on the cusp of a significant transformation, according to Yoshitaka Kitao, CEO of SBI Holdings. In an essay, he predicted that by 2026, traditional finance will merge with decentralized finance, marking a major shift in the way transactions are conducted. This change is already underway, as evidenced by BlackRock's BUIDL fund and Visa's USDC integration.

The Ethereum Foundation has also taken steps to formalize its treasury by staking 70,000 ETH. However, this move has been complicated by Vitalik Buterin's continued sales of his holdings, which have totaled over $21 million in recent weeks. These sales have contributed to a sharp decline in the price of Ethereum.

Meanwhile, Bitcoin's correlation with gold has dropped, signaling a change in market sentiment. According to CryptoQuant CEO Ki Young Ju, this is a sign that Bitcoin is no longer being treated as a safe-haven asset, but rather as a high-beta liquidity sponge. This change could have significant implications for investors and traders alike.