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25.05.2026 01:30 PM
Digital financial system fails to complete its transformation

Brian Armstrong, chief executive of one of the largest US cryptocurrency exchanges, recently published an extended manifesto arguing that the global financial system is far from finished in its transformation.

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In an eight-point list he identified asset tokenization, stablecoins, artificial intelligence and sound money as areas where the global financial architecture still requires upgrade, addressing his remarks to both technology developers and policymakers.

Armstrong said finance of the future would be more global, more blockchain-centric, and substantially more automated. His post appeared as tokenized real-world assets (RWA) exceeded $34.9 billion in May 2026, an increase of roughly 200 percent over the past year. Among his eight priorities are the tokenization of real estate, equities, bonds, and funds to enable instant settlement and fractional ownership; round-the-clock global trading with pooled liquidity; payments in stablecoins, including between autonomous AI agents; AI-driven financial services; self-custody of assets; and a regulatory framework that incentivizes innovation.

At the macro level, Armstrong also expects a hypothetical US government Bitcoin reserve to grow to a value in excess of $1 trillion, a projection that fits his broader thesis of Bitcoin as a fundamental element of future financial architecture.

The manifesto was published at a notable moment. The US Securities and Exchange Commission has delayed decisions on trading tokenized equities, the CLARITY Act risks being pushed to July because of a congested congressional schedule, and institutional investors continue to withdraw funds from spot Bitcoin and ether ETFs. Against that backdrop Armstrong's eight unfinished tasks read not only as a strategic roadmap but also as pressure on regulators.

Trading recommendations

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Buyers of BTC are targeting a return to $78,400, a level that would open a direct path to $80,100 and then to $81,700; a breach above $81,700 would indicate attempts to restore a bull market. On the downside, buyers are expected at $76,500; a return of price below that area could quickly push BTC toward $74,700, with a further target at $73,100.

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As for Ethereum, a clear hold above $2,146 would open a direct route to $2,222. The farther target is the high near $2,291; a break above that level would signal strengthening bullish sentiment and renewed buyer interest. On the downside, buyers are expected at $2,084. A fall below that point could rapidly send ETH toward $2,026, with a deeper target at $1,969.

What we see on the chart:

- Red lines indicate support and resistance levels where either a price slowdown or active growth is expected;

- Green lines indicate the 50-day moving average;

- Blue lines indicate the 100-day moving average;

- Light green lines indicate the 200-day moving average.

A crossover, or a price test of moving averages, typically either halts the move or sparks fresh market momentum.

Jakub Novak,
Analytical expert of InstaForex
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