The Ethereum Foundation is abandoning Poseidon for future layer-1 designs and plans to use standard hashes such as SHA or BLAKE instead, after advances in proof systems changed the performance tradeoff. The shift follows progress in binary-field constructions like Binius, which has lowered the proving cost of conventional hashes that were previously expensive to prove inside SNARKs. The move ends an eight-year effort to develop specialized, proof-friendly cryptography and points to a more standardized, easier-to-implement protocol direction.

Tether said it has completed its first full financial audit conducted by KPMG, one of the Big Four accounting firms. The audit found the company’s reserves exceeded its liabilities by $6.8 billion, supporting claims that USDT is fully backed. The update was shared by Tether Chief Technology Officer Paolo Ardoino and echoed by industry figure Samson Mow. The $6.8 billion cushion has become a focal point for the market as observers assess Tether’s solvency.

World Liberty Financial has received preliminary approval from the U.S. Office of the Comptroller of the Currency (OCC), clearing an early hurdle toward obtaining a bank charter. The company plans to set up a trust company to assume issuance, redemption and reserve management for the USD1 stablecoin, replacing BitGo. The move marks a step by a Trump-linked crypto project toward compliant banking services.

Corn futures posted gains of 5 to 11.25 cents on Friday and finished the week higher, drawing spillover support from a sharp wheat rally tied to rising Black Sea tensions. CFTC data showed managed money trimmed its net long position by 15,176 contracts to 166,770, as new short interest entered. Old-crop export sales reached 104% of the USDA target with shipments at 95%, while new-crop sales were down 23.5% from the same period last year. The national average cash corn price rose to $4.30.

Cotton futures rebounded on Friday, with the front-month contract closing up 116 to 130 points, while the December contract was up 40 points on the week. Managed money lifted its net long by 10,591 contracts to 78,870, the largest in more than two years. Accumulated 2025/26 export sales reached 11.977 million RB, or 107% of the USDA export projection, and new-crop business at 4.026 million RB was 25% above the same period last year. The Cotlook A Index held at 94.95 cents, ICE certified stocks fell 1,779 bales, and the Adjusted World Price rose 190 points to 68.19 cents/lb, with higher crude oil and a weaker U.S. dollar adding support.

World Liberty Financial has received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to issue its dollar stablecoin USD1 directly through a national trust bank charter and to custody the reserves backing it. The approval requires the trust company to maintain at least $20 million in capital, appoint a qualified internal audit manager, and notify the regulator of major changes to its business plan. USD1 now has a market capitalization of roughly $4 billion, making it the fourth-largest stablecoin, Reuters reported. WLFI was trading at about $0.056 per token.

SpaceX has completed its $60 billion stock-based acquisition of Anysphere, bringing the Cursor coding platform into its SpaceXAI business and issuing 389 million Class A common shares. After the announcement, SPCX fell about 0.9% in Friday trading to around $140. The stock had previously jumped more than 17% when the deal plan became public, briefly hitting an intraday record of $225.64.

OpenAI’s revenue growth is accelerating, with its annualized revenue run rate now on track to exceed $40 billion. ChatGPT has more than 1 billion monthly users, giving the company a large base to monetize via subscriptions and a growing advertising business. OpenAI’s run rate has roughly doubled from more than $20 billion at the end of 2025, Bloomberg reported, citing people familiar with its finances.