29th May 2026 > > Aave Labs & Sequans Communications.

tl;dr

Aave Labs points the way forward for a bright future for the UK. Sequans Communications are doing it all wrong.

Market Snap

Market Wrap

A breach of $70k to the downside will likely shake out a lot of weak hands.

Curious Cryptos’ Commentary – The UK

I am flabbergasted:

For context, the UK’s new crypto regulations will be open for registration applications on 30^th September 2026 with the regime expected to commence on 25^th October 2027. For now, Aave Labs has received registration under the existing MLR rules.

There are several recognised crypto businesses registered in the UK, such as Coinbase, Gemini, Uphold, Revolut, amongst others. What makes this news so unique is that this is the first registration for a large and well-recognised pure DeFi platform. Given the UK’s technocratic elite’s previously deeply embedded disdain for, and antagonism to, all things crypto this is quite remarkable news. Whisper it quietly, but it looks increasingly likely that the crypto revolution will engulf the UK to the benefit of us all.

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In the spirit of this new and friendly environment, the forthcoming UK regulations foresee a potential carve out for “truly decentralised” protocols i.e. they will be allowed to operate without FCA approval.

You can imagine the convulsions such a proposal causes amongst the bureaucrats at the FCA, muttering and spluttering their way into a conference room to try to get their heads around such a revolutionary and, in their eyes, an unacceptable change to their world-view.

The fact that Aave Labs, through its Push subsidiary, has wrapped the fiat rails for a “truly decentralised” protocol in a regulated entity, rather suggests to me that the mutterers and splutterers will win the day, meaning that other DeFi platforms will have to follow the same path as Aave Labs.

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There is an earlier registration for a DeFi platform, one that I had not come across before:

https://redefi.world/

Pitching itself as “… a Financial Market Infrastructure platform for Banks and Financial Institutions” the price action of its native token REDEFI will be familiar to anyone who has followed or traded alts in the past:

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For disclosure purposes, the CC Treasury has long been invested in AAVE since 2024 with – and this is rare for the CC Treasury – an active trading mandate.

Curious Cryptos’ Commentary – Sequans Communications

Sequans Communications S.A. announced a policy of building a BTC treasury reserve in July 2025. At its peak, it had bought 3,234 BTC at an average cost of $116k per BTC.

Yesterday, the company issued the news that it has fully redeemed its convertible debt by selling 80% of its BTC stash leaving just 658 BTC. The press release states that the company is "no longer pursuing a digital asset treasury strategy" so the remaining BTC will be for sale soon.

I suspect it won’t be the only one to do so. Its rapid about-turn in the face of a temporary drawdown from the recent ATH suggests to me that the Board of Directors were merely trying to jump on a bandwagon, had not done their homework, and, like flighty retail investors, the company was destined only ever to be a weak hand, a stance guaranteed to lose money over time. The realised loss is of the order of $70-80mm to date. My advice – sell the 658 BTC at a target of $244k and receive very fat executive bonuses.