The Daily: Balancer Labs to wind down, Bernstein calls bitcoin bottom with $150K target for 2026, and more
Balancer Labs is shutting down after an exploit, Bernstein predicts Bitcoin has bottomed with a $150K target, and the NYSE partners on tokenization.Summary
Balancer Labs, the corporate entity behind the Balancer DeFi protocol, is winding down due to significant legal exposure following a $128 million exploit. The protocol itself will continue under a leaner, DAO-led governance structure, proposing to end BAL emissions and redirect all fees to the treasury.
In market news, Bernstein analysts believe Bitcoin has likely bottomed, reiterating a $150,000 price target for the end of 2026, and see significant upside for treasury firm Strategy. Meanwhile, the New York Stock Exchange (NYSE) has tapped Securitize to develop a 24/7 platform for issuing and trading tokenized stocks and ETFs.
Other key developments include Tether hiring a Big Four accounting firm for its first full independent audit of USDT reserves, and BlackRock CEO Larry Fink stating that tokenization could make investing as easy as mobile payments.
(Source：The Block)