The race to tokenize stocks is no longer theoretical. It’s a multi-horse competition with competing models, real issuers, and billions in potential liquidity at stake.
In a recent interview with TheStreet Roundtable discussion, Solana Foundation’s head of institutional growth Nick Ducoff broke it down in terms retail investors rarely hear and explained why Solana is especially well suited for this type of use case.
“Solana’s vision of becoming the on-chain Nasdaq and home of internet capital markets is getting closer and closer,” Ducoff said.
The different approaches to tokenized equities
There are currently four distinct approaches to tokenized equities, each with real trade-offs.
The first is the digital twin model, pioneered by Ondo Finance. A token represents a share of the underlying asset: the issuer buys the stock, holds it in custody, and prices trades via a request-for-quote system.
Trading runs Sunday night through Friday night, a 24/5 model.
The second is the 24/7 model, led by Kraken’s xStocks. These trade around the clock using automated market makers (AMMs), decentralized protocols that automatically price trades without a central exchange. The trade-off is real, though.
“You may have wider spreads because you’re not getting a quote directly from the market,” Ducoff said.
The third is the direct transfer agent model, championed by SuperState through its Opening Bell platform. Companies like Exodus, Forward Industries, and Galaxy serve as issuers of record.
“You know you’re getting the same stock that you would be getting if you were buying it on your brokerage account,” Ducoff said.
That distinction carries real weight for compliance and legitimacy.
The fourth, and newest, is the DTCC entitlement model.
The Depository Trust & Clearing Corporation (DTCC), the backbone of U.S. equity settlement, retains custody of the underlying security but allows holders to use it as on-chain collateral.
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Solana’s bet
Ducoff didn’t crown a winner, but he was clear on one point: Solana supports all four.
“I’m not exactly sure which model is ultimately going to win in the market, but Solana supports all of these models,” he said.
That’s a meaningful structural advantage. If tokenized equities go mainstream, and the current momentum suggests they are, Solana’s infrastructure could sit at the center of it all.
Regulatory clarity and liquidity depth remain open questions, but for the first time, the plumbing for a 24/7 global stock market is actively being built. And it’s being built on crypto rails.
A number of shows saw their attendance fall last week, as spring break crowds dissipated, and as several productions comped tickets in the lead up to openings.
Harry Potter and the Cursed Child was the highest grossing show last week, bringing in $2.4 million at the Lyric Theatre, followed by Hamilton with $1.9 million and The Lion King with $1.8 million. Moulin Rouge! brought in $1.6 million, on the continued strength of Megan Thee Stallion’s run in the musical. Every Brilliant Thing, starring Daniel Radcliffe, also cracked the top five for the first time with $1.5 million and the top average ticket price last week of $198.
Last week saw the openings of The Fear of 13, starring Adrien Brody and Tessa Thompson, which opened to mixed reviews, Proof, starring Ayo Edebiri and Don Cheadle, which opened to mixed to positive reviews and Fallen Angels, starring Rose Byrne and Kelli O’Hara, which opened to largely positive reviews.Six more shows were in previews last week, with all set to open before April 27, the Tony Awards eligibility cutoff.
Overall gross fell 10 percent and attendance fell five percent.
Among the lower grossing shows, the new musical Beaches saw capacity fall to 61 percent in its third week of Broadway previews, and will need to see a turnaround after opening at the Majestic Theatre April 22. Total gross fell to $473,027.
Amidst the number of new show offerings, Chess fell to 71 percent capacity at the Imperial Theatre and Two Strangers Carry A Cake Across New York fell to 69 percent capacity at the Longacre Theatre (both opened in the fall). Stranger Things: The First Shadow fell to 73 percent at the Marquis Theatre and Death Becomes Her fell to 91 percent at Lunt-Fontanne after both opened last season.
Post-opening, Cats: The Jellicle Ball and Death of a Salesman were all trending up, with Cats: The Jellicle Ball hitting $1 million in grosses for the first time and Death of a Salesman, starring Nathan Lane and Laurie Metcalf, hitting $1.3 million.
The much-anticipated film, starring Ryan Gosling, Amy Adams, Matt Smith, Mia Goth and Aaron Pierre, doesn’t it theaters until May 28, 2027.
“I’m in the beautiful sanctity of the edit room,” Levy told me at the Breakthrough Prize Ceremony on Saturday. “We don’t come out until next year, and so it’s a rare movie where I don’t have a release date looming. So I’m in the dark quiet of the edit room finding the best possible shape for the film.”
From the sound of it, AI will not be a significant tool in finding that shape. “To date, I’ve not incorporated AI in any meaningful way in any phase of my storytelling process, but I have no doubt that in the course of my career we will see its integration,” Levy said.
A prolific director and producer, Levy’s projects have included “Stranger Things,” “Deadpool & Wolverine,” “All the Light We Cannot See” and “The Adam Project.”
“To the point that many smarter people than I have made, it’s about integrating these technologies responsibly and with still the primacy of the creative voice and not a potential replacement for that voice because I think that what you get from creative voice and vision is singular and irreplicable, but if we can use these emerging AI capacities to support storytelling in still a kind of creative and human first workflow then I think it’s something to embrace, not fear.”
Regulation is key, Levy said. “I spend a part of everyday trying to increase my fluency around the regulatory options surrounding [AI],” he said. “I think it’s going to be essential, but I think to hide our heads in the sand and pretend that it’s not going to be not just an emergent but an essential part of our lives, not just filmmaking lives, [but] lives lives, I think that would be naive and foolish.”
“I think people really care about the human beings behind the stories and the art and the creative work that matters so much, so my instinct is it’s going to go the other way and people will care more about humans and more about human creators in the future, not less,” he said.
When “The Devil Wears Prada 2” hits theaters on May 1, audiences will notice a few famous faces — though there’s a couple of notable absences.
The sequel, which premiered Monday night in New York, is loaded with cameos from the fashion and entertainment worlds. Lady Gaga makes an appearance, and also recorded a Doechii-assisted track, “Runway,” for the film’s soundtrack. Donatella Versace, who stepped down as creative director of her family’s brand, filmed a scene in Milan for a cameo. Supermodel Naomi Campbell also appears, having been seated next to Meryl Streep’s Miranda Priestly at the Dolce & Gabbana spring 2026 show, which was shot live during Milan Fashion Week.
But not everyone who showed up on set made it onto the screen.
Sydney Sweeney‘s cameo was cut from the film, Entertainment Weekly first reported.The “Euphoria” star filmed a roughly three-minute scene near the top of the movie in which she played herself, being dressed for an event by Emily Blunt’s character, Emily Charlton — now running Dior’s U.S. operations. According to a source, the scene did not work structurally with the rest of the sequence, and the team found the decision to remove it a difficult one.Sweeney, for her part, has hardly been hurting for screen time lately: She recently returned to the project that launched her to superstardom, appearing in the long-awaited third season of “Euphoria” on HBO.
Also trimmed from the finished film is “How to Get Away With Murder” actor Conrad Ricamora, who had been cast as Andy’s roommate. Sources say the character didn’t survive test screenings (audiences kept questioning why Andy needed a roommate at all). The final film instead leans into her spending time at Tracie Thoms’ character’s place, a dynamic that sources say plays more realistic to the 2006 original.
When speaking with Variety’s Marc Malkin at the Vanity Fair Oscar party in March about a possible cameo, Anna Wintour remained quiet telling him, “That’s for you to find out.”
Consider it found out. The Condé Nast global content chief visited the sequel’s Milan set, where director David Frankel captured her in what he called a “gag take” that will appear as a bonus feature on streaming — though Wintour got ahead of her cue, leaving the shot partially out of focus. “I can’t ask Anna to do take two,” Frankel told the “Back Row” podcast. Her contribution behind the camera proved more consequential anyway: While watching a scene roll in the fictional Dior offices, Wintour zeroed in on the flowers in frame, declared there were too many and they were too pink and informed the crew that Dior would only ever have white flowers. The blooms were promptly swapped out.
Cash App, the banking and payments app run by Block, has added support for parent-managed kids accounts. The new accounts include key benefits from the service’s normal account, with an eye towards teaching financial literacy to younger users ages 6 to 12. Cash App first allowed teenage users on its platform in 2021.
As part of the “expanded Cash App Families experience,” eligible legal guardians and parents can create managed accounts that offer “a dedicated place on the platform to send allowances, set aside savings, and track spending for their child, kickstarting their path to financial independence,” Cash App says. Adults managing these accounts will be able to set up recurring transfers, see how their child is spending and do things like lock their child’s account to prevent transactions. Kids will get a custom debit card and the ability to receive payments from up to five trusted accounts, though notably they won’t be able to access Cash App itself.
Cash App says managed accounts are designed for kids 6 through 12. Once those kids turn 13, Cash App says parents will be able to choose to convert their account to a “sponsored account” to unlock more features, like the ability to send and receive payments, invest in stocks or trade crypto. Those sponsored accounts are technically still monitored and controlled by a parent or legal guardian, but they do give 13-year-olds more control over how they use their money.
A parent-managed account for kids is not a new idea in the fintech space, though Cash App is trying to reach a younger audience than some of its competitors. Venmo rolled out access to its payment platform to teens between the ages of 13 to 17 in 2023. Separately, both Apple and Google also offer their own kids accounts in Google Wallet and Apple Cash Family.
Trust and oversight are now central to crypto investing in Italy, according to the latest Crypto Compass from Boerse Stuttgart Digital. The study shows that Italians increasingly want security, transparency and service before they commit capital.
Regulation and service lead the decision process
About 80% of Italians say regulation and transparency matter when choosing a platform. Meanwhile, 77% look for reliable customer service, and over 70% prioritize secure custody solutions for their assets.
That pattern points to a market that values safeguards as much as access. Moreover, the findings suggest that crypto users are becoming more selective as the italian crypto market matures.
Banks still carry the most trust
The report also highlights the role of traditional institutions. 36% of respondents identify their main bank as the most trustworthy entity for crypto investments, ahead of independent consultants at almost 19% and specialized platforms at almost 15%.
However, the growing preference for established names does not mean investors are rejecting digital assets. Instead, the data shows that confidence now depends on clear standards, visible controls and strong service.
Why regulated platforms matter
In this environment, fully regulated operators that comply with European standards are seen as key to building confidence. They can help banks and financial firms offer customers safe, transparent and reliable access to digital assets.
Boerse Stuttgart Digital frames the trend as a sign of a more aware market. That said, the message is simple: trust, compliance and custody are becoming the decisive filters for crypto investing in Italy.
Strategy and other financial brands may benefit as the market rewards credibility, while regulated access keeps shaping how Italians approach digital assets.
Finance is shifting fast, and crypto neobanks are moving into the center of that change. However, the line between trading apps, banks and wallets is fading as crypto services spread into everyday payments and investing.
From trading venue to financial hub
The new model is broader than speculation. Crypto-friendly neobanks now target mainstream use cases, not only crypto-native traders, while crypto cards adoption is helping drive everyday usage.
Moreover, monthly card volume has risen 223.5% year over year. That growth suggests users are treating these products as practical spending tools, not niche add-ons.
At the same time, tokenized stocks boom has accelerated sharply, climbing from US$38 million to US$1 billion in a single year. That is a 26x increase, and it highlights how fast digital wrappers are entering mainstream portfolios.
Institutional money is pushing the shift
TradFi institutions and fintech platforms are also racing to add crypto services. In effect, they are trying to build the next super app finance model, where payments, trading and savings sit inside one interface.
That said, the market is not moving in a straight line. Average weekend trading volume rose by approximately 300% from January to March 2026, and it reached an equivalent of 38% of weekday volume over the trailing four-week period.
The trend shows that activity is no longer confined to office hours. Instead, users are engaging across the full week, which makes always-on financial products more valuable.
CeDeFi and cross-chain rails are becoming essential
CeDeFi is emerging as the bridge between centralized platforms and decentralized protocols. Moreover, institutions increasingly prefer vault-based lending with configurable parameters, and cdefi lending growth is reflected in the rise of vault share in DeFi borrowing to 22.8% in 2026.
Cross chain infrastructure is also turning into a core requirement. The ratio of cross-chain transfer volume to DEX volume rose from 3.4% to about 15% between early 2025 and April 2026.
These numbers point to a market that needs interoperability as much as liquidity. In practice, the best products will connect chains, protocols and payment rails without forcing users to think about the plumbing.
The labels may keep changing, but the direction is clear. Neo-Finance, Super App and CeDeFi are converging into one integrated system, and crypto neobanks are positioning themselves at the middle of it.
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Dressing a star client for awards season or a film’s media tour requires careful planning. But dressing a star for the Cannes Film Festival is a next-level challenge — especially if that star is a juror who must navigate every day of the world’s most prestigious cinema showcase.
Just ask Maryam Malakpour. She signed on to be Halle Berry’s stylist just before the 2025 festival, which meant she had to hit the ground running. As a juror, Berry appeared at multiple events throughout the fest, from the first day’s jury photocall and the opening ceremony — each required separate looks — all the way through to the closing ceremony 12 days later.
Gala affairs in between included high-wattage premieres of Mission: Impossible — The Final Reckoning and The Phoenician Scheme and splashy dinners hosted by Chopard and L’Oreal Paris and the Kering Women in Motion Awards. Malakpour’s final designer roster for Berry included day and evening looks by Chanel, Dior, Jacquemus, Elie Saab, Alexandre Vauthier and Gucci.
Throw in a couple of curveballs, such as last-minute switches because of Cannes’ late-game rule banning voluminous gowns with trains on the Croisette, and Malakpour’s inventive curation of Berry’s looks was nothing less than impressive. That’s why The Hollywood Reporter knew the star stylist was perfect to not only ask about her memories of that round-the-clock assignment but also to suggest style and packing advice for anyone planning to make the trek to the South of France for this year’s event.
How much time do you need to plan for Cannes, especially when dressing someone who’s on the jury?
It is hard to say how much time in general you need to plan for Cannes. I only started the prep less than a month from the scheduled travel date to Nice, which felt pretty full on. As soon as I received the call, I started. Even though the final schedule was not in place, we had to set ourselves up and be ready for anything. None of us really knew how big and rigorous the schedule would become. On the final schedule, we had approximately 10 major gown or event looks and about the same amount of daytime and photo-call looks.
From left: Halle Berry in Chanel during the jury photocall at Cannes on May 13, 2025; in a striped gown by Jacquemus for the opening ceremony that evening; and in a lace-embroidered column gown by Dior Haute Couture for the May 24 closing ceremony.
From left: Samir Hussein/WireImage/Getty Images; Stephane Cardinale/Corbis via Getty Images; Daniele Venturelli/WireImage/Getty Images
Aside from the multiday aspect of the festival, how does Cannes differ from a style perspective compared with, for example, planning for awards season?
There is something about traveling and being in a foreign country, adapting to the environment and culture, that makes a big difference.
How does the location play into your planning?
Location plays a major role — it influences not just aesthetics, but attitude and mood. From the moment we started the prep, the conversation and our goal was clear: We are going to embrace everything we love that is French, especially from the South of France. We referenced some of the most memorable style icons, i.e., Jane Birkin and Brigitte Bardot. We even had a French playlist throughout our fittings to set the mood. Our single goal was to reinvent and compose the ultimate effortless style with great confidence and poise, a total look, from the French bob haircut to the most chic and unpredictable looks.
Halle Berry attended the ‘Mission: Impossible — The Final Reckoning’ red carpet wearing a high-low gown from Celia Kritharioti’s spring 2025 haute couture collection.
Stephane Cardinale/Corbis/Corbis via Getty Images
Does South-of-France glamour differ from Hollywood glamour, and if so, how?
South-of-France glamour and Hollywood glamour are different, mainly because they come from very different cultural roots. For the South of France, the vibe is effortless, sunlit, colors are more neutral, breezy, [with] oversized sunglasses, slightly undone hair, soft glam and glowing skin. There is a nostalgic mood of “Je ne sais quoi,” sophistication and confidence. It’s the kind of glamour where looking slightly imperfect actually adds to the appeal.
Stylist Maryam Malakpour at Cannes in 2025.
courtesy Maryam Malakpour
A great example is the opening look of Halle Berry in a black and cream striped sleeveless gown by Jacquemus. Hollywood feels more dramatic: bold colors, sculpted silhouettes, statement gowns and full glam makeup and perfect hair.
Looks for the day photo-calls are of course radically different from the evening carpets on the Croisette — how did you approach this dual strategy with Halle’s looks?
We approached the festival with a clear strategy: researching each venue and event in advance so we fully understood the setting, the light and the tone. Every look was then developed in direct response to that context. What works on the steps during the Cannes Film Festival is very different from what reads well at a private dinner along La Croisette.
During the edit, we were constantly thinking ahead and strategizing around the key moments: the opening and closing ceremonies as well as the film premieres — all under full daylight. Unlike the controlled lighting of Hollywood carpets, the full sun demands precision and simplicity. Everything had to be exact yet never feel over-styled.
Did you have a conversation with Halle in advance about what you both were thinking style-wise and how to navigate the many events between day and evening?
The goal was always to keep the looks light, breathable and unforced. For example, one of the daytime events was a luncheon held at the gardens of the Musée de la Castre. The setting called for something polished but relaxed, in tune with the ease of La Croisette. We chose a mint green jacquard midi dress by Gucci, tailored at the waist and finished with a self-fabric skinny belt. The look stayed true to that effortless daytime elegance: nude slingback pumps to elongate the silhouette, balanced with a burgundy shoulder bag for a subtle pop of color, finished with a silk foulard tied at the strap for movement and softness. And, of course, oversized sunglasses — essential, not just as an accessory, but as part of the attitude.
Linda Farrow Macy Vista Temple Sunglasses in black, $695; at lindafarrow.com.
Courtesy Linda Farrow
Which of her looks from last year’s festival were particular favorites of yours?
My favorite look was the Chanel Spring 2025 Haute Couture pantsuit embroidered with beaded and organza flowers for the premiere of The Phoenician Scheme. I loved this look because it felt unconventional and unexpected. It challenged the hardcore red-carpet critics who are used to and expect the same thing. They were confused by it and said it was just like a breath of fresh Riviera air, and it’s not doing enough. They expected that someone like Halle Berry should arrive in a sparkly, overtly sexy gown, which we deliberately stayed away from.
Wearing a Chanel Spring 2025 Haute Couture embroidered pantsuit, Halle Berry attended ‘The Phoenician Scheme’ red carpet at Cannes on May 18, 2025.
Daniele Venturelli/WireImage
What is your style advice for anyone planning on attending the festival this year?
My advice is simple: chic elegance with an artistic point of view. It is what keeps it from feeling predictable, always with a subtle twist.
Loro Piana Linen Guia Jacket in Quartz Blue, $4,335; at us.loropiana.com.
country Loro Piana
Are there any trends we’ve seen from the most recent runways that you believe will play a role in the festival this year?
This is nothing new, but we did see a lot of sheer fabrics — chiffon, lace, organza — in delicate nudes and pastel colors; mint green, dusty rose everywhere across the Spring/Summer 2026 collections.
Which recent collections or looks from recent collections feel particularly Cannes-friendly to you?
MM: My favorites are: Haider Ackermann’s Tom Ford Resort 2026. It’s chic and elegant, with precise tailoring. Matthieu Blazy’s Chanel 2026 Haute Couture, with airy layers, dreamlike proportions and colors and a kind of quiet storytelling. And Celia Kritharioti’s 2026 Haute Couture, who has been on my radar since last year. I love her clean, elongated, sculpted gowns.
What advice do you have for smart packing, for both clothing and accessories, so someone doesn’t go overboard and then wear only a small percentage of what they’ve brought?
I’ve found that it is definitely best to use lightweight hard cases. I always use Away luggage, as they are minimal weight and very spacious. I love the trunk specifically for accessories. I also think it’s important to pack entire outfits together, so it’s extremely obvious what goes together to avoid any confusion and accidental repeat wear.
Away’s The Trunk in Coast Blue and Sea Green; $435 each at awaytravel.com.
Courtesy Away
Are there any “must-haves” in fashion or accessories that you’d recommend to guarantee style success in Cannes?
The perfect edit is full of versatility that easily transitions from daytime to evening — apart from the red carpet, of course. Think tailored linen or silk suits, a crisp white shirt with high-waisted trousers, or minimal but perfect dresses, i.e., the slip dress. The go-to labels: The Row for ultimate understated power; Loro Piana, luxe and full of texture; and Jacquemus, for a Riviera artistic twist.
Jacquemus’ The Plumetis knitted maxi dress in navy, $1,190; at netaporter.com.
Courtesy JACQUEMUS
A variety of sunglasses would be a real must-have item, like oversized black frames, a sharp cat -eye or minimal gold-rimmed aviators. My top picks are from Saint Laurent, Celine and Linda Farrow. Another must-have, and most importantly, shoes that you can actually walk in. Elegant but stable mid-height or platform heels, chic flats and sandals for daytime transitions. Lastly, the chic nonchalant piece that you must have is a silk scarf tied loosely in your hair, paired with an oversized blazer thrown over a gown with a vintage clutch. Adding a good vintage piece is always great.
Celine 90cm square scarf in silk twill, $590; at celine.com.
Courtesy Celine
Gucci Women’s slide sandal with interlocking G, $770; at gucci.com.
Finally, did you pack anything for yourself last year that you would recommend as a terrific option for someone attending for the first time? Or is there a favorite item you always include in your own suitcase, regardless of where you’re headed?
Bella Freud Ivory Satin Saint James Jacket; $1,245; at bellafreud.com.
Courtesy Bella Freud
I love and highly recommend my vintage black slip dress, mid-length with lace around the decolletage, from Sabbia Rosa in Paris. It’s great for daytime with sandals or flats and easily transitions to evening with a pair of heels and an ivory satin blazer from Bella Freud in London. Also, something that is just very European: I always pack a lightweight trench coat to play it safe in the unpredictable weather.
A Pair of Posh New Hotels Open Their Doors
Ahead of the 79th Cannes Film Festival, two new high-end hotels have opened on France’s sunny Mediterranean shores to tempt guests with sophisticated accommodations and picturesque views. For anyone looking to decompress post-Cannes, consider either of these elegant boltholes.
Como Le Beauvallon Gulf of Saint-Tropez, France
A two-bedroom suite terrace acccomodation at COMO Le Beauvallon hotel in the south of France.
Courtesy COMO Le Beauvallon
Originally debuting in 1914, Como Le Beauvallon was one of the original Belle Epoque palaces on the French Riviera, surrounded by private gardens and overlooking the azure waters of the Gulf of Saint-Tropez. The hotel closed in 2008 and was briefly reinvented as a private estate available for rentals and events, but following a meticulous restoration, it’s back as a 100-room resort set to open April 24.
Two undisputed French creative stars have imbued Como Le Beauvallon with their respective passions: Chef and restaurateur Yannick Alléno, whose Beauvallon Sur Mer offers an Asian-meets-Mediterranean menu amid pristine beach views, and interior designer Dorothée Delaye, who has restored much of the original resort’s refined elegance.
Zannier Île de Bendor Bandol, France
The Cloitre Building at Zannier Ile de Bendor.
Courtesy Zannier Hotels
Opening May 1, this latest resort in the Zannier hotels family is located on Île de Bendor, a luxury private island near Bandol on the Provençal coastline. To reach Cannes from Bandol will take a little less than two hours by car, but it’s only 45 minutes via one of the area’s many private helicopter services that can ferry guests from the film festival to points beyond.
Originally conceived in the 1950s as Riviera hotspot for stars and artists, the 93-room resort underwent a five-year restoration and has been reimagined as a rustic-meets-elevated haven of wellness, sustainability and Provencal charm.
If you were ever wondering what Big Mistakesand Schitt’s Creek creator Dan Levy’s life would sound like, it’s Peaches.
“Peaches has been the soundtrack to the majority of my life,” he told The Hollywood Reporter while discussing the release of his new Netflix series. “From a very young age in my 20s when I was going and seeing her in Toronto at small clubs, she’s been on most of the playlists I’ve put together for a lot of the things I’ve written.”
Levy could have chosen to keep the prolific queer electroclash artist, who he describes as having a lawless sound, a massive but largely unspoken source of inspiration. Instead, he turned to her to score Big Mistakes.
“She was the only person I wanted from the beginning, before we even cast it. She was in the early playlist of just simply writing the show,” he explains. “I was finding myself going back to her music, going back to some of the playlists that she put together and really responding to the sonic world that she lives in. She has a sense of humor. She’s self-aware, all of the qualities that I wanted this show to feel like.”
Levy would reach out to the Canadian musician and producer, whose three-decade-long career has seen her collaborate with everyone from M.I.A. to John Malkovich, after cutting the show’s first episode. It was accompanied by a “lovely little note begging” — and she said yes.
“I’ve never done scoring before or anything like it. But Dan’s been a longtime fan and really felt like the spirit of my music and what I do would fit this show,” Peaches told THR in an interview before the series released.
This is the first time the boundary-pushing artist scored a series, working alongside co-composer Nora Kroll Rosenbaum, but she and her music are no stranger to film or TV soundtracks. Peaches’ music has been featured everywhere from The L Word, Mean Girls and Lost in Translation to South Park, The Handmaid’s Tale and Full Frontal with Samantha Bee.
But this was different. Peaches was asked to create her signature sound of which her voice is a distinguishable, essential element — without uttering a word. It was a new opportunity to discover how to infuse her identity through the music.
“I’ve had to find a way to express without my voice, which is challenging and great, and also a little out of my comfort zone. But the point of the actual Big Mistakes is about being out of your comfort zone. I think we all felt that way. We felt, ‘Let’s get out of our comfort zone and go,’” says the artist, who released her first album in 10 years, No Lube So Rude, in February. “Dan always says, ‘Your voice is there. There’s a scream in every episode because of the theme music.’”
Taylor Ortega as Morgan with Dan Levy as Nicky in Big Mistakes.
Courtesy of Netflix
The process paired Peaches and Rosenbaum, neither of whom had ever worked together before. “I wish I knew her my whole life. She’s so amazing and it was so great working with her. It was kind of like a blind date. That’s how it felt coming into the show because I know Dan’s work and nothing had felt quite like this.”
“The two of them brought out the best in each other. I think the score is one of the crucial elements that sets this show apart from the rest,” Levy says. “What makes Peaches so fantastic is there is a lawlessness to the way she operates in entertainment. She doesn’t give a fuck what anyone thinks or believes. She is like, ‘Take it or leave it. This is who I am.’ Not just from a musical standpoint, but almost the entire package and visual show.”
According to Peaches, that’s what Levy asked her to translate into the show’s sound. “He wanted me as a disruptor. The music is a disruptor. It’s the motivator for their bad decisions, their big mistakes. It’s pushing them into these areas and saying, ‘Yeah, go for it. Do this. Let’s go.’ Like the id and the ego,” she explains.
“Dan made it very specific that he didn’t want things to fade out. He wanted them to be just cut — when you’ll have maybe 10 seconds of music, but it won’t fade out. Insatead, it’s about finding this point where it wakes you up and out of it. That was the assignment. Also, don’t be traditional, giving in to the emotions with a violin or to echo the sentiment. It’s keeping up the thrill ride.”
That thrill ride, Peaches notes, was defined by three emotional auras. “The big keyword for Nora and I was “thrill” because it’s like a thrill ride. Are you on the upside of the thrill ride or down? It’s the constant thrill. Sometimes it’s more heightened, either from a moment of revelation thrill or a moment of getting out of your comfort zone, or it’s complete terror.”
Levy and Ortega in Big Mistakes.
Spencer Pazer/Netflix
Alongside the rollercoaster effect shaping the show’s musical journey, Peaches is famous for her genderbending, queer musical vision, which she also embraced within the series’ score.
“Queerness always has an authenticity to it. I think about every seminal moment in history, be it music, be it architecturally, it all goes back to queerness and then gets watered down and shifted and becomes very mainstream,” she says. “In my case, you don’t have to call it electroclash or indie sleeze or whatever — but the rough, very queer sound that turned into EDM. I’m very conscious not to make it that kind of sound that would telegraph to me not having the personality it needs and the power of queerness.”
The process of composing for the entire series was an “all gut” experience she tells THR, and one that allowed her and Levy to take a big leap. “I feel so proud of the work that she’s done, if I can even express pride,” Levy tells THR. “But she should be really, really thrilled because she’s just crushed it.”
See the entire tracklist from the Big Mistakes score below; season one is now streaming on Netflix.
The state of New York filed a pair of high-stakes lawsuits Tuesday against Coinbase and Gemini, arguing the crypto companies violated state gambling laws by offering prediction markets.
The suits, filed Tuesday in a Manhattan state court, target not only sports-related wagers on Coinbase and Gemini, but also the firms’ prediction markets related to entertainment and politics.
New York Attorney General Letitia James also took issue in the lawsuits with the fact that both Coinbase and Gemini allow New Yorkers as young as 18 to place wagers on prediction markets, when the legal age to gamble in the state is 21.
“Gambling by another name is still gambling, and it is not exempt from regulation under our state laws and constitution,” James said in a statement. “Gemini and Coinbase’s so-called prediction markets are just illegal gambling operations, exposing young people to addictive platforms that lack the necessary guardrails.”
New York is seeking a minimum of $2.2 billion in damages from Coinbase, and at least $1.2 billion in damages from Gemini.
New York is not the first state to sue prediction market platforms over alleged violation of state gambling laws. Numerous other states havealreadydoneso—even as prediction market platforms, backed by the Trump administration, argue the wagers they offer do not fall under state law. The platforms contend they instead offer event contracts, regulated at the federal level by the CFTC.
About the NY lawsuit news – prediction markets are federally regulated national exchanges, registered with the CFTC. This issue is proceeding in New York federal court as we speak. Coinbase will continue to fight for the federal oversight of these markets that Congress intended.
But given its stature in the world of financial regulation, and its formidable resources, New York’s entrance to the fray today is of particular note. It is also significant given the unique heft of New York disgorgement laws, which allow the state to collect company revenue ultimately deemed ill-gotten not just within New York, but nationwide.
After New York filed its lawsuits against Coinbase and Gemini on Tuesday, Coinbase Chief Legal Officer Paul Grewal said the company “will continue to fight for the federal oversight of [prediction] markets that Congress intended.” When reached for comment, Coinbase referred Decrypt to Grewal’s X post.
New York’s attorney general is currently locked in a legal brawl with Kalshi, the country’s largest prediction market platform. In the fall, the company preemptively asked a federal court in New York to intervene and prevent New York from suing Kalshi for violations of state gambling laws. The motion has not yet been decided. Should it fail, New York will likely sue Kalshi as well, given that it issued the company a cease-and-desist order in October.
Experts widely anticipate that the jurisdictional battle over the regulation of prediction markets will ultimately be decided by the U.S. Supreme Court.
A Gemini representative did not immediately respond to Decrypt’s requests for comment. A spokesperson for the New York Attorney General’s office referred Decrypt to James’ statement and the lawsuitfilings.
Editor’s note: This story was updated after publication with additional details and the response from Coinbase.
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