BREAKING: ADM Paparo, 4-star Admiral and Commander of U.S. Indo-Pacific Command, just testified before the Senate that “Bitcoin shows incredible potential” as a tool for U.S. national security. Watch the full exchange:

Asset Allocation of UHNWIs, 2026 Old rules are being rewritten In a benchmark study of high-net-worth individuals, Long Angle surveyed their members for insights into investment allocations Key message: Traditional 60-40 is shifting It's moving towards: 60% stocks 10% bonds/cash 30% privates/alts Chart shows investible assets (home equity removed) BELOW: • How asset allocations change with wealth • Asset allocation, including home equity • Private / Alt allocations, incl. RE/crypto • How many HNWs self-manage

We're at an inflection point. The internet is evolving from moving information to moving value. Blockchain, stablecoins, and AI aren't separate trends — they're converging into something much bigger: a reimagined global economic system, built natively on the internet. We are entering a world where, in my view, tens or even hundreds of billions of AI agents will interact and perform economic functions over the internet. They'll need programmable digital dollars and open infrastructure to do it. That's exactly what we've been building at Circle. Circle’s Q4 showed this isn't just a vision anymore — it's happening. USDC expansion continued, our share of stablecoin transaction volume approached 50%, and our broader platform expanded well beyond issuance into the infrastructure layer of onchain finance. Arc. CCTP. Circle Payments Network. StableFX. Each one a building block for what comes next. The opportunity ahead has never been greater. And we're just getting started. Full results at investor.circle.com

1/ quick slide rip from my @blockworks DAS talk - Believe in Something this is where it all began. everything we talked about ten years ago when we started building the world's first bitcoin investment firm has come to pass. so why isn't bitcoin a million dollars?