Author: rb809rb

8 African Nations Advance Crypto Regulation as Adoption Accelerates Across Emerging Markets
Africa’s crypto regulation is accelerating as Ripple highlights eight nations advancing formal oversight, driving adoption and investment while positioning the region for deeper integration into global digital asset markets.

Key Takeaways:
- Ripple highlights 8 African nations advancing crypto regulation, led by South Africa licensing rules.
- Nigeria, Kenya, and Mauritius frameworks boost adoption, with stablecoins rising in trade flows.
- Ghana, Botswana, and Ethiopia signal next wave, targeting broader compliance rollout through 2026.
Africa Crypto Regulations Expand Across Key Markets

Evolving policy approaches worldwide are beginning to redefine how digital asset ecosystems develop in emerging markets. Ripple, a company focused on blockchain-based payment solutions, released findings on April 6 that examine how African nations are approaching crypto regulation at different stages of maturity. The insight underscores a combination of rising usage, gradual policy coordination, and ongoing investment in financial infrastructure, with emphasis on how regulatory paths differ across jurisdictions rather than follow a single model.

Ripple stated:

“As activity grows across the continent, regulators in several key jurisdictions are moving quickly to set the stage for the next phase of Africa’s digital asset ecosystem.”

South Africa has positioned itself as one of the most advanced regulatory environments on the continent, formally treating crypto assets as financial instruments and requiring service providers to register and comply with oversight bodies such as the FSCA and FIC. In Kenya, authorities have moved forward with a legal framework for virtual asset providers, dividing supervisory responsibilities between monetary and capital markets regulators, while continuing to refine the framework through stakeholder consultation and iterative policy adjustments.

Mauritius continues to expand its regulatory toolkit, building on earlier initiatives by broadening licensing categories and clarifying its stance on stablecoin-related activity, with ongoing work aimed at establishing clearer long-term rules for issuance and use. Nigeria, meanwhile, has shifted toward formal recognition of digital assets within its securities framework, while also relaxing earlier banking constraints and experimenting with supervised compliance environments, reflecting a more pragmatic and engagement-driven regulatory approach.

Regulatory Activity Broadens Across the Region

Beyond these key markets, the insight identifies a wider group of countries beginning to formalize their approach to digital assets, contributing to a more interconnected and steadily evolving regulatory landscape. Ghana has introduced initial compliance measures, including registration requirements, which serve as a foundation for more comprehensive oversight in the future.

Botswana, Namibia, and Seychelles are at various stages of drafting or implementing crypto-focused regulations, with an emphasis on defining licensing processes and ensuring adherence to compliance standards. These developments highlight a gradual but intentional move toward regulatory consistency across the region, as policymakers seek to establish clearer entry conditions for market participants. Ripple noted:

“Today, roughly eight African countries have implemented some form of crypto-specific regulation, with additional jurisdictions working toward formal frameworks.”

Elsewhere, countries such as Ethiopia, Morocco, Rwanda, Tanzania, and Uganda are still in exploratory phases, assessing how digital asset policies can be adapted to local economic structures and financial system priorities. In many cases, regulators are carefully weighing the benefits of innovation against potential systemic risks, particularly those linked to capital mobility and rapid adoption.

“Africa has long been a global leader in crypto adoption, driven by practical needs like remittances, cross-border trade and mobile-first financial services,” Ripple observed. This widespread adoption is closely linked to longstanding gaps in traditional financial systems, especially in areas such as cross-border payment efficiency and access to stable foreign currencies. As a result, digital assets are increasingly viewed as practical tools for addressing these limitations, particularly in markets where conventional banking infrastructure remains uneven or inaccessible.

Market Demand and Infrastructure Continue to Drive Growth

Underlying economic conditions continue to support both policy development and rising institutional involvement throughout the region. The success of mobile money platforms has already demonstrated the viability of digital-first financial solutions, creating a natural bridge for broader digital asset usage.

Stablecoins, in particular, are seeing expanded use cases ranging from commercial settlements to liquidity management and remittance flows, offering efficiency gains compared to legacy financial rails. At the same time, financial institutions are exploring new service offerings, including secure custody and compliance-driven platforms, to meet increasing demand from both enterprises and individual users. As regulatory clarity improves, this trend is expected to further enable institutional participation and streamline cross-border financial activity. Ripple remarked:

“Africa remains one of the world’s most compelling regions for digital asset adoption and momentum.”

Looking ahead, continued progress in regulation and greater coordination between jurisdictions could accelerate the integration of digital assets into mainstream financial systems. Sustained alignment on policy standards may ultimately support a more cohesive, scalable, and resilient digital economy across Africa, positioning the region for long-term growth and deeper global financial connectivity.
April 8, 2026
Iran says talks with US will begin in Pakistan’s Islamabad on Friday

Tehran says the negotiations will be based on its 10-point proposal, which calls for control over Strait of Hormuz and lifting of all sanctions.

Iran has agreed to a two-week ceasefire with the United States, with its National Security Council saying talks with Washington will begin in the Pakistani capital, Islamabad, on Friday, based on Tehran’s 10-point proposal.

The statement on Wednesday came after US President Donald Trump said he was holding off on a threat to end Iranian civilisation and would “suspend” attacks on the country for two weeks.

Recommended Stories

list of 4 itemsend of list

Trump said the truce was contingent on Iran agreeing to the “complete, immediate and safe opening” of the Strait of Hormuz, the narrow waterway that connects the Gulf to the Arabian Sea and through which a fifth of the global oil supply passes.

Iran’s partial blockade of the strait – imposed in the aftermath of the US and Israel’s attacks on February 28 – has disrupted global trade, driving up oil prices and causing fuel shortages across the world.

Iran’s retaliatory attacks have also reverberated across the Gulf and drawn in Lebanon’s Hezbollah and Yemen’s Houthis, both of which have launched attacks on Israel, significantly widening the conflict.

Trump said in his Truth Social statement that the US has already “met and exceeded” all of its military objectives and “are very far along with a definitive Agreement concerning Longterm PEACE with Iran”.

He said the US has received a 10-point proposal from Iran, “and believe it is a workable basis on which to negotiate”. The US and Iran have agreed on “almost all of the various points of contention”, he said, and that the two-week period will allow the agreement to be “finalised and consummated”.

Iran’s Minister of Foreign Affairs Abbas Araghchi, speaking on behalf of the Iranian National Security Council, confirmed Tehran’s agreement.

“If attacks against Iran are halted, our powerful armed forces will cease their defensive operations,” he said in a post on X.

Araghchi said that safe passage through the Strait of Hormuz will be possible in coordination with Iran’s Armed Forces, and that the decision was taken in light of Trump’s acceptance “of the general framework of Iran’s 10-point proposal as a basis for negotiations”.

For his part, Pakistan’s Prime Minister Shehbaz Sharif said the warring sides had agreed to an “immediate ceasefire everywhere including Lebanon and elsewhere”.

The move is “EFFECTIVE IMMEDIATELY”, he wrote on X.

Sharif thanked the US and Iran and extended an invitation to “their delegations to Islamabad on Friday, 10th April 2026, to further negotiate for a conclusive agreement to settle all disputes”.

According to Iran’s National Security Council, its 10-point proposal calls for Iranian dominance and oversight of the Strait of Hormuz, which it said would grant it a “unique economic and geopolitical position”.

The proposal also calls for the withdrawal of all “US combat forces” from bases in the Middle East and a halt to military operations against allied armed groups across the region. It goes on to demand “full compensation” for war damages, as well as the lifting of all sanctions by the US, the United Nations Security Council and the International Atomic Energy Agency.

The proposal also calls for the release of frozen Iranian assets abroad and the ratification of any final agreement in a binding UN Security Council resolution.

The council said that while Tehran has agreed to talks, it does so “with complete distrust of the American side”.

It said Iran will allocate two weeks for these negotiations and that the time period “can be extended by agreement of the parties”.

The council added that Iran stood ready to respond with “full force” as soon as “the slightest mistake by the enemy is made”.

There has been no comment from Israel.

April 8, 2026
‘Cats: The Jellicle Ball’ Broadway Review: Andrew Lloyd Webber’s Musical Gets Fresh and Fierce Update as an Ode to Queer Ballroom Culture

Broadway is burning — and that’s something to celebrate.

“Cats: The Jellicle Ball,” a refreshed version of the downtown 2024 hit, blazes anew, having made the trek uptown with its extravagance, pride and sense of joy intact.

Andrew Lloyd Webber’s now-and-forever musical adaptation of T.S. Eliot’s “Old Possum’s Book of Practical Cats” has been transposed to the world of Harlem’s Black and Latino queer ballroom culture — the same scene as the 1990 documentary “Paris Is Burning” and television’s “Pose.” But here, “Jellicle Ball” has a different human breed of cool cats across the binary spectrum. They are part of the underground community of drag houses whose members compete for trophies in runway categories such as realness, fashion and opulence.

What resonates in this production is not just a vibrant twist on a legendary musical but the power of transformation. As the kitty-littered junkyard of the long-running 1982 original is re-set into a new world of wonder, so too reimagined are the music, choreography, design and characters. Even the audience seems to be fresh and fierce, with a diverse mix of theatergoers continually engaged in the strutting on stage as they flutter their oversized fans to signal their gleeful approval.

But there’s a subtext to the spectacle. The queer predecessors of the characters on stage lived through a devastating epidemic, amid racism, poverty, and violence and discrimination in their gay and trans community. But these defiant drag houses offered safety, acceptance and glamour which were celebrated in these urban spaces. Outside, the world may be raging but inside, it’s raving.

The show begins with DJ Jen Ard thumbing through a box of old LPs and taking out the original cast album of the musical with its classic cat-eyes logo. Bringing it to his deejay deck in one of the theater’s box seats, he places the disc reverently on the turntable. The first iconic notes from the score — now played live — sweep over the theater. Though the tune is familiar, the sound is something else.

Over the years Lloyd Webber has embraced new generations of artists reinventing his works in dramatic and dark ways, such as “The Phantom of the Opera,” “Sunset Boulevard” and “Evita.” However with “Cats,” the immersive reimagining is bright with its score rearranged to reflect the percussive and synthesized heart of house music. (The dynamic orchestrations are by Lloyd Webber and David Wilson under the music supervision and direction of William Waldrop.)

Because the show’s text is largely limited to Eliot’s 1939 volume of light verse, it remains essentially a long revue overlaid with thin narratives. This new queer concept could easily wear out its initial welcome — as its previous concept did for many in 1984. But here it’s rooted in a real — rather than feline — community and its humanness is essential.

In Rachel Hauck’s magnificent design of an industrial space repurposed as a makeshift ballroom, a catwalk extends from center stage into the orchestra (and shortened from its previous run to accommodate Broadway balcony sight lines.) But the vibrancy and hearts of these characters whose new identities and senses of self are on the line is just as thrilling.

Co-directors Zhailon Levingston and Bill Rauch keep things in a constant state of fabulousness, presenting entertaining design diversions, creating a bit of drama from the outside world, and introducing a few glittering special effects, too. (A giant swirling disco ball descends mid-show from the rafters above the audience, bringing to mind the grand chandelier effect from another Lloyd-Webber show.)

Another fun sideshow: At this performance, comic Billy Eichner and comedian, actress, and jazz singer Lea DeLaria were the “guest judges.” But their roles were playfully incidental with the focus on the zhuzhing more than judging — and the dazzling sights, moves and performances. Choreographers Arturo Lyons and Omari Wiles have these confident contestants shine with struts, sashays, splits, dips, duckwalks, vogueing and death-drops, each trying to outdo the other, urged on by a rapturous crowd.

In a show where style becomes substance, Qween Jean’s costume designs offer one splendiferous fashion after another, topped by stunning hair and wig designs by Nikiya Mathis.

Unencumbered with cat makeup, the cast of very human characters — all excellent — is in a constant state of motion — and emotion, too.

Dudney Joseph Jr. as Munkustrap, presides assuredly as the show’s regal emcee. There’s also the charismatic and studly Sydney James Harcourt as Rum Tum Tugger; Emma Sofia as Skimbleshanks the railway cat is wittily presented as an MTA conductor and is as electrifying as the third rail; Robert Silk Mason as Magical Mystical Mistoffelees and Baby Byrne as Victoria are both visions of breathtaking style, grace and limberness; Teddy Wilson is endearing as Grizabella’s fanboy Sillabub, who represents a generational connection, as the show honors a continuing drag lineage.

Following a touching second act slide show tribute to the founders of the drag houses of that earlier era, Junior LaBeija arrives as Gus, the elder theater cat nostalgically recalling his great stage moments. Giving the scene even more poignancy is that the gender-nonconforming LaBeija, dressed in full fur and long bejeweled fingernails that could double as cat claws, is a ballroom icon who was featured in the documentary “Paris Is Burning.”

Another elder presence with his own renown theatrical history is the 80-year-old André De Shields as Old Deuteronomy, the evening’s grand patriarch. De Shields is, as always, a commanding presence, owning any room he is in with dignified stillness and innate magnificence, and yet barely able to contain his youthful spirit, which finally emerges in full in “The Ad-Dressing of Cats.”

The epitome of ancestral drag and gender rebirth is transgender actress and ballroom mother “Tempress” Chasity Moore. Her Grizabella is presented here as a former ballroom winner who is now a disheveled-but-still-proud street person who finds transcendental radiance with a soulful “Memories.” In this moment the show all at once connects to its past, present and future — and once again rises to Heaviside heights.

Prospects are also promising down the line for something the road hasn’t seen in a long time: “Cats: The Jellicle Ball” just might become the next much-needed, must-see touring show from the House of Broadway.

April 8, 2026
Bitcoin Long-Term Holders Return to Accumulation Mode: Binance Sees Early Bull Market Signals
Bitcoin accumulation by long-term holders is signaling a market transition, with Binance data pointing to tightening supply conditions that could support the early stages of a new bull cycle.

Key Takeaways:
- Binance shows $BTC accumulation since Feb. 2026 as long-term holders steadily stack positions.
- Binance signals early bull cycle setup, with 2026 trends aligning with past breakout phases.
- $BTC supply tightens as holders lock coins, reinforcing conditions for sustained upside.
Binance Sees Bitcoin Long-Term Holders Return to Accumulation Mode, Pointing to Early Bull Market Phase

The cryptocurrency market is showing early signs of a structural shift as long-term bitcoin holders return to accumulation, reinforcing a potential turning point in the current cycle. Binance detailed this transition in its April 6 market report, highlighting how investor behavior has evolved after a prolonged drawdown. The findings emphasize that sustained accumulation by experienced holders is reshaping market structure and influencing future price dynamics.

Richard Teng, CEO of Binance, shared on social media platform X on April 7 a direct observation supporting this trend. The chief executive stated:

“Since mid-February, $BTC long-term holders have been back in accumulation mode.”

His comment highlights a phase where seasoned investors are steadily increasing exposure, a pattern that has historically emerged during early stages of market recovery before broader bullish momentum develops.

Bitcoin Accumulation Trend Signals Supply Tightening Shift

According to Binance, long-term holder behavior plays a central role in shaping bitcoin market cycles and overall supply conditions. Commenting on long-term holder (LTH) supply, the report notes:

“Historically, LTH supply contraction following market peaks – as seen in December 2023 and October 2024 – signals early bull market dynamics driven by profit-taking.”

In contrast, the current cycle shows long-term holders expanding their positions even after a significant correction, indicating that coins are increasingly held rather than redistributed across the market.

This continued accumulation contributes to a gradual tightening of available supply while aligning with renewed institutional demand through spot bitcoin exchange-traded funds. Binance emphasized: “Together, these suggest a market reset which paves the foundation for a new accumulation cycle.”

Teng’s observation reinforces this trajectory by pointing to the return of accumulation behavior, which historically precedes stronger price trends. As more supply becomes held by long-term participants, the market structure shifts toward conditions that can support a developing bull phase, particularly if demand continues to build alongside reduced selling pressure.
April 8, 2026
Bitcoin reclaims $72K after US, Iran agree to 2-week ceasefire

The price of Bitcoin pushed past $72,000 for the first time in 20 days after the US and Iran agreed to a two-week ceasefire.

“I agree to suspend the bombing and attack of Iran for a period of two weeks,” Trump said in a Truth Social post on Tuesday, hours before his deadline for Iran to reopen the Strait of Hormuz or face military attacks on key infrastructure.

Iran’s Supreme National Security Council also said it accepted the ceasefire.

Bitcoin (BTC) climbed 2.6% in the hour following the announcement, reaching $72,339 at the time of publication, according to CoinMarketCap.

Crypto traders have historically seen geopolitical tensions as a headwind for prices, with any hints of easing often triggering quick relief rallies.

Source: Donald Trump

The deal also came hours after Trump renewed threats against Iran.

“A whole civilization will die tonight, never to be brought back again. I don’t want that to happen, but it probably will,” Trump said in a post on Monday.

The last time Bitcoin traded above $72,000 was March 18, as sentiment continues to drag in the crypto market.

The Crypto Fear & Greed Index, which measures overall crypto market sentiment, posted an “Extreme Fear” score of 11 on Tuesday, signaling that investors are taking a cautious approach to the crypto market.

On April 1, Trump said the US could wrap up its military campaign in Iran within weeks, claiming the goal of eliminating Iran’s nuclear capabilities had been achieved.

April 8, 2026
3 things to watch in Heat-Raptors on NBA League Pass

Scottie Barnes led Toronto with 27 points in a 112-91 win over Miami on Dec. 23.

The Toronto Raptors (43-35, 6th in Eastern Conference) host the Miami Heat (41-37, 10th in Eastern Conference) on Tuesday at Scotiabank Arena.

Both the Raptors and Heat have clinched a spot in the 2026 NBA Playoffs, but their seeding remains uncertain. Both teams have chances to get better playoff positioning, and in the Raptors’ case, locking up a top 6 seed would be massive.

The Raptors have been fighting to hang on down the stretch, but they’ve lost three of their last four, including a 115-101 defeat at the hands of the Boston Celtics on Sunday. As for the Heat, they’re coming off a 152-136 win over the Washington Wizards on Saturday, meaning they’ve won two of their last three but own a 2-3 mark across their last five games.

Here are three key storylines to know heading into today’s matchup.

1. Massive playoff implications: Even though both teams have already locked up a berth in the playoffs, there’s a lot to be determined in terms of seeding ahead of the final week of the regular season. Ahead of Tuesday’s slate, the Raptors hold a 0.5-game lead over the 76ers for the sixth spot in the standings, and a win here could go a long way for Toronto since the rest of their schedule includes another matchup against the Heat and a meeting with the Knicks.

As for the Heat, they’re 2.0 games behind Toronto, and with back-to-back head-to-head meetings, Miami could cause a massive shockwave in the standings if it wins both games. With the standings in the East so tight and six teams vying for the final two playoff spots to avoid the Play-In Tournament, the stakes are incredibly high before this showdown.

2. Scottie Barnes dishing out the dimes: The Raptors may be without Immanuel Quickley (foot) again for this game, and while the team has a perfectly capable backup point guard in Jamal Shead, it has been Barnes who’s embracing a bigger role in the playmaking department. Barnes has dished out at least six assists in each of his last 10 games, a stretch in which he’s averaging 9.9 dimes but also 3.2 turnovers. Barnes is one of the most versatile forwards in the NBA, so it’s not a surprise to see him stand out in another area of his game. Look for Barnes’ facilitating to be a challenge for the Heat’s defense.

3. Bam Adebayo will have a massive opportunity to shine: The Raptors could be shorthanded in terms of their frontcourt depth since Sandro Mamukelashvili (knee) and Collin Murray-Boyles (quadriceps) are questionable, meaning Jakob Poeltl will be the only true center available for Toronto.

That should mean a flashing green light for Adebayo, who is having a career year. The star big man is averaging 21.0 points and 11.1 rebounds per game in his 11 appearances after he dropped 83 points on the Wizards on March 10, and he’s putting up 24.1 points with 10.3 rebounds, 3.6 assists and 1.5 steals per game since the All-Star break. He could be a big problem down low for the Raptors.

April 8, 2026
The parents were looking at their phones when child was bitten by wolf at zoo, police say

A toddler’s parents were 25 feet away from him and looking at their phones when he was bitten by a wolf at a Pennsylvania zoo, police said.

In the incident Saturday at ZooAmerica — part of the Hersheypark entertainment complex — the 17-month-old boy reportedly squeezed through a gap in an outer barrier and reached through the wolf enclosure’s fence. “It appears as though one of the wolves in the enclosure instinctively and naturally grabbed onto the child’s hand with its mouth,” said the public report from Derry Township police.

It was as bystanders were pulling the child back that the parents, seated on benches, noticed “the commotion,” the police said.

The couple — a 61-year-old man and 43-year-old woman from Lititz, Pa. — will be charged with misdemeanor child endangerment, police said.

The zoo issued a statement describing the child’s injury as minor and the wolf’s “contact” as “consistent with natural animal behavior” and not a sign of aggression. The enclosure houses three gray wolves.

April 8, 2026
Phone Logs Show Seven Calls Between Milei and LIBRA Backer on Launch Night: Report
In brief

Phone logs show seven calls between Milei and a backer of the LIBRA meme coin on its launch night, according to a New York Times report.

WhatsApp messages reference regular payments to Milei from when he was still a congressman.

Argentina’s federal criminal probe into the scandal remains open.
Argentine President Javier Milei’s ties to the collapsed LIBRA meme coin may run deeper than he has acknowledged, with newly surfaced phone logs showing seven calls between Milei and a key figure behind the token on the night of its launch.

Milei promoted the Solana-based token on X in February 2025, sending its market cap above $4 billion before it crashed over 90% within hours as insiders drained roughly $87 million in liquidity.

The collapse cost investors an estimated $250 million and triggered fraud charges, a congressional investigation, and a federal criminal probe that remains open.

By June 2025, Argentina’s anti-corruption office cleared Milei, ruling he acted in a personal capacity when he posted about the token.

According to a New York Times report citing initial coverage from local cable news channel C5N, the calls in question took place before and after Milei’s now-deleted post endorsing the Solana-based token at the time.

“The launch and promotion of LIBRA was not at all improvised or accidental on the part of the president,” Maximiliano Ferraro, an opposition lawmaker, told the paper. “It was a planned, coordinated and deliberately executed operation.”

Behind the scenes

The phone logs, obtained from the federal prosecutor’s investigation, show the calls took place on the night of February 14, 2025, between Milei and Mauricio Novelli, one of the entrepreneurs behind the token. Novelli also allegedly called two of Milei’s top advisers that evening, including the president’s sister Karina Milei, per the report.

WhatsApp messages recovered from Novelli’s phone point to a financial relationship way before the token’s launch.

In one 2023 audio message, Novelli told an assistant to budget “the usual 2,000 for Milei,” calling it a monthly salary, while in a separate April 2024 message he referenced “the 4,000 we need to give to Karina,” in an apparent reference to Milei’s sister, per the Times.

Draft documents found on Novelli’s phone outlined a $1.5 million payment scheme tied to Milei publicly naming Hayden Davis as a presidential adviser, the report indicates.

It’s worth noting, however, that no evidence has emerged showing Milei agreed to or received any of the payments. The Argentine president has not publicly commented on the phone logs or payment references, and has not been formally charged in relation to them.

Novelli’s lawyer, meanwhile, told the Times his client “is entirely unconnected to any wrongdoing” and is seeking to have the phone evidence excluded, arguing the device may have been tampered with in custody.

If Milei was already cleared, the new evidence could cause them to “go back and re-investigate,” Austin Campbell, founder of crypto risk and compliance advisory firm Zero Knowledge, told Decrypt, while pointing to the difficulties of doing so.

“Crypto has a deep problem with undisclosed payments, promotions, and outright scams,” Campbell said. “What we badly need is a disclosure regime for such arrangements or payments, with significant civil and criminal penalties for failing to disclose.”

Milei dissolved the government task force investigating the scandal in May last year. The federal criminal probe under prosecutor Eduardo Taiano remains open.

Decrypt has reached out to Argentina’s presidential press office for comment and will update this piece should they respond.

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.
April 8, 2026
Billionaire investor Ackman makes $64bn bid for Universal Music Group

Published On 7 Apr 2026

Billionaire investor Bill Ackman’s Pershing Square has proposed a takeover of Universal Music Group in a $64bn deal, the latest twist in his nearly five-year quest for the music label giant.

Pershing Square proposed a cash-and-shares offer on Tuesday through its acquisition vehicle that values Universal Music at about 30.40 euros ($35) per share, a 78 percent premium to the last closing price of 17.10 euros ($20), making the deal worth 55.75 billion euros ($64.31bn).

Recommended Stories

list of 4 itemsend of list

Universal Music Group (UMG) – the company behind international superstars, including Taylor Swift, Billie Eilish and Kendrick Lamar – is expected to move its listing to New York from Amsterdam, paving the way for more investors, including index funds, to own the company and ultimately lead to more robust earnings and a higher valuation.

Universal Music declined a Reuters news agency request for comment.

For Ackman, one of the world’s most voluble investors, who cemented his fame and fortune as an activist investor, forcefully pushing corporate America to adopt changes, this is a far friendlier approach, investors and industry analysts said.

Even as the music industry is flourishing, UMG’s share price has lagged, something Ackman is pledging to fix with this proposed deal.

Ackman’s letter to Universal Music Group’s board carried a mixed tone, at times complimentary of current management, led by chairman and chief executive Lucian Grainge, and critical of the company’s “underutilized balance sheet” and handling of its 2.7 billion euro ($3.1bn) investment in Spotify Technology.

Fears of AI disrupting the music industry have played a role in UMG’s lacklustre performance. Its share of the music market has been sliding, and streaming growth is decelerating, Wells Fargo analysts noted. In March, UMG delayed its plans for a US listing.

Nonetheless, Ackman will need the support of UMG’s top shareholders – Bollore Group, which holds an 18.5 percent stake, and Vivendi, which owns 13.4 percent – to push through any transaction. China’s Tencent is a significant shareholder. French billionaire Vincent Bollore’s family controls 80 percent of UMG’s voting rights.

Old target

Ackman first flirted with Universal Music Group in 2021, when his Pershing Square Tontine Holdings, a shell corporation created to take a private company public, zeroed in on its target. But Ackman shelved the complex deal in the wake of heavy US regulatory scrutiny. Instead, Pershing Square became one of UMG’s biggest investors in 2021, and Ackman sat on its board until last year.

Post transaction, Ackman said Grainge should remain Universal Music’s chief executive.

Ackman said he and former Hollywood super-agent Michael Ovitz met with Grainge over dinner “a couple of weeks ago” to discuss the potential merger.

“Lucian encouraged us to send it in,” Ackman said.

Ackman proposed adding new directors, including Ovitz – who shepherded the careers of Madonna and Michael Jackson – who would become the board chair. Additionally, two representatives from Pershing Square would get seats, he said, not saying yet whether he would be one of the directors.

Shares of UMG, which is listed in Amsterdam, were up 13 percent on Tuesday, while Bollore Group climbed 5 percent. Shares in Vivendi were up more than 10 percent.

Pershing bought a 10 percent stake in UMG from Vivendi ahead of its 2021 Amsterdam IPO and has since repeatedly pressed for a New York listing, arguing it would boost UMG’s share price and liquidity.

Pershing currently has a 4.7 percent stake, making it UMG’s fourth-biggest shareholder.

UMG’s shares have lost almost a third of their value since its IPO.

Even as global music revenues grow year after year, UMG and other major labels, like Sony and Warner Music, are scrambling to stay competitive as streaming services from Spotify, Amazon, Apple and Deezer take an ever greater share.

They are now also contending with disruptions brought on by the expansion of AI – from copyright disputes to the advent of song-generating AI tools – that threaten to upend how music is created, consumed and monetised.

One survey last year found that a staggering 97 percent of listeners could distinguish between AI-generated and human-composed songs.

Under Tuesday’s proposal, Pershing’s SPARC Holdings would merge with UMG, and the new entity would become a Nevada corporation listed on the New York Stock Exchange.

April 8, 2026
Solana Foundation to Help Secure DeFi Protocols Following $285 Million Drift Hack
In brief

The Solana Foundation launched the STRIDE security program with 24/7 threat monitoring for protocols exceeding $10M total value locked.

Protocols with over $100M TVL receive “formal verification” services funded by the Foundation.

On April 1, the Solana-based Drift Protocol saw $285 million swiped in an exploit that’s believed to have been planned for months by North Korean hackers.
Nearly a week after a prominent Solana-based decentralized exchange was hit with a $285 million hack that’s been linked to North Korean hackers, the Solana Foundation has revealed plans to help secure the network’s largest DeFi protocols.

The Solana Foundation and Asymmetric Research launched STRIDE, a tiered security program that provides 24/7 threat monitoring for DeFi protocols with over $10 million in total value locked (TVL). For protocols with over $100 million TVL, the Foundation will offer “formal verification”—described in a post as “a mathematical, proof-based method that guarantees smart contract correctness by exhaustively checking every possible state and execution path.”

STRIDE—or Solana Trust, Resilience and Infrastructure for DeFi Enterprises—evaluates protocols against security standards before providing ongoing protection services. The initiative marks a significant escalation in blockchain security infrastructure as attackers target Solana’s growing billions in locked value with increasingly sophisticated methods.

The program launched alongside the Solana Incident Response Network (SIRN), a membership-based collective of security firms dedicated to rapid ecosystem defense. Founding participants include Asymmetric Research along with OtterSec, Neodyme, Squads, and ZeroShadow. The framework will evolve based on real-world assessment feedback, with version 0.1 currently live.

The timing underscores an urgent need—Drift Protocol suffered an exploit where attackers drained $285 million in under 12 minutes on April 1, demonstrating the speed and scale at which modern DeFi vulnerabilities can be exploited. Drift said on Sunday that it discovered that North Korean hackers had spent six months infiltrating its team and infrastructure before executing the attack.

Such incidents highlight why major blockchain networks are taking more direct responsibility for ecosystem-wide security rather than leaving individual protocols to defend themselves.

The tiered approach based on TVL thresholds reflects how layer-1 networks are institutionalizing security as decentralized finance matures. Rather than treating all protocols equally, STRIDE allocates resources proportionally to risk—acknowledging that protocols managing hundreds of millions of dollars’ worth of assets require different protection than smaller experiments.

This shift recognizes that individual smart contract audits alone cannot match the innovation pace of adversaries targeting blockchain infrastructure. Rapidly advancing AI is also a key concern, as it can help attackers and developers alike find flaws.

An upcoming Anthropic AI model codenamed Claude Mythos is being viewed as a particular threat to cybersecurity—so much so that top cybersecurity stock prices fell late last month when first details of the model were leaked. On the other hand, a recently fixed Zcash software exploit was discovered with the help of AI tooling.

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.
April 8, 2026