Latest news with #Bitcoin-powered
Business Wire
28-05-2025
- Business
- Business Wire
Blockstream Unveils 'Future of Finance Runs on Bitcoin' Vision at Bitcoin 2025
LAS VEGAS--(BUSINESS WIRE)--Blockstream, the global leader in Bitcoin-powered financial infrastructure, has today revealed its strategic vision to support Bitcoin's next pivotal phase of growth, building on over a decade of pioneering work at the forefront of Bitcoin innovation. Blockstream CEO Adam Back launches consumer app and showcases the firm's evolving enterprise platform at Bitcoin 2025, advancing its vision that The Future of Finance Runs on Bitcoin. Unveiled in a keynote by Blockstream Co-Founder and CEO Dr. Adam Back at Bitcoin 2025 in Las Vegas and anchored by a bold new tagline, The Future of Finance Runs on Bitcoin, the vision introduces a clear framework based on three core business units—Consumer, Enterprise and Blockstream Asset Management (BAM). This framework represents a unified approach to onboarding users across the rapidly growing Bitcoin economy, from individuals to institutions. 'The past year has shown clearly that Bitcoin no longer sits on the margins of the global financial system—it is rapidly becoming the foundation,' said Dr. Back. 'Our vision is simple: The Future of Finance Runs on Bitcoin. Guided by this idea, Blockstream is working hard to build the vertically integrated platform to support that transition, from individual self-custody to enterprise-scale asset issuance and regulated investment products.' A New Era for Bitcoin-Native Finance According to crypto ETF analytics platform SoSoValue, Bitcoin has attracted over $41 billion in net ETF inflows alone since the launch of U.S. spot ETFs in early 2024, led by major institutions such as BlackRock, Fidelity, and Franklin Templeton. At the same time, New Hampshire and Arizona have become the first U.S. states to pursue Strategic Bitcoin Reserves and the number of corporate treasuries holding Bitcoin continues to climb. With a market cap of just over $2 trillion and trillions settled annually on-chain, Bitcoin's role as a legitimate financial layer is increasingly clear, hastening the need for scalable infrastructure. Blockstream has been building that infrastructure for over a decade. Founded in 2014 by Dr. Adam Back—inventor of Bitcoin's proof-of-work (PoW) mechanism—the company has focused from the outset on expanding Bitcoin's functionality without compromising its foundational principles. Blockstream Research, led by renowned cryptographer Andrew Poelstra, is a key contributor to Bitcoin Core and drives advances in applied cryptography and protocol development. On the product side, Blockstream maintains Core Lightning (CLN) for scalable payments, the Liquid Network and Blocksteam Asset Management Platform (AMP) for tokenized asset issuance and settlement, as well as self-custody tools including the open-source Jade hardware wallet. The All-New Blockstream App—Self Custody on Your Terms Headlining today's keynote was the launch of the all-new Blockstream app—a streamlined, self-custodial experience that lets users buy bitcoin and secure it immediately in their own wallet. Built on the foundation of the trusted Blockstream Green wallet, the updated app offers seamless support for managing Bitcoin and Liquid assets within a redesigned interface tailored to both new and experienced users. The Blockstream app is designed to make onboarding intuitive from day one, minimizing friction while staying true to the principles of self-custody. Users can begin simply and gradually adopt more advanced features at their own pace—including hardware signing and air-gapped transactions with the Blockstream Jade. Current Blockstream Green users will find all existing functionality preserved within the redesigned interface. With support for 31 languages, the app makes Bitcoin accessible to anyone with a smartphone, opening the door to secure, sovereign finance worldwide 'The new Blockstream app isn't just a wallet,' said Peter Bain, VP of Consumer Products at Blockstream. 'It's a gateway to the full power of Bitcoin—enabling secure savings, fast payments, and seamless management of tokenized assets, all within an intuitive interface designed for both newcomers and hardcore bitcoiners.' Blockstream Enterprise: Accelerating the Development of Bitcoin-Native Financial Infrastructure Dr. Back also used his keynote to highlight the growing importance of Blockstream Enterprise, the company's evolving platform for corporations, governments and participants across the broader financial sector. Underpinned by the Liquid Network and Blockstream AMP, the platform enables secure asset issuance, as well as treasury and balance sheet management. It also facilitates integration with custodians, exchanges and core financial systems via industry-standard FIX and REST APIs. With the first iteration of AMP already available and additional features rolling out over time, the platform builds on Liquid's momentum, which recently surpassed $3.27 billion in total value locked (TVL). In doing so, it provides a Bitcoin-native foundation for tokenization and institutional settlement focused on regulated custody, compliant off-exchange settlement, and programmable financial instruments. 'As capital markets evolve, businesses, institutions, and governments will need infrastructure that is secure, programmable and built directly on Bitcoin's rapidly growing network,' said Dr. Back. 'Blockstream Enterprise brings that infrastructure together—enabling asset issuance, management, and settlement on Liquid, Bitcoin's first and most battle-tested sidechain.' Unifying Consumer, Enterprise, and Institutional Products Today's keynote marks a strategic inflection point, aligning Blockstream's efforts across the three market segments it serves. In 2024, the company raised $210 million to accelerate development and launched Blockstream Asset Management (BAM), a dedicated division focused on institutional-grade Bitcoin investment products. The company has also deepened collaborations with regulated custodians, corporate treasuries and financial service providers to support the integration of Liquid and AMP into existing financial infrastructure. The Future of Finance Runs on Bitcoin The vision laid out by Dr. Back reflects Blockstream's conviction that Bitcoin is no longer just a $2 trillion asset class but a settlement layer, a development platform, and the most credible foundation for building the next financial system. 'The financial world is waking up to what we've known for years,' said Dr. Back. 'Bitcoin is here to stay —and it's never been easier to build on it. From first-time users to trillion-dollar institutions, our aim is to give everyone the tools to participate in this new economy, with the transparency, security and resilience that only Bitcoin can provide.' To learn more visit Booth 2121 at Bitcoin 2025 or visit Download the new Blockstream app today and take control of your Bitcoin—on your terms. Institutions, enterprises, and governments interested in building on Bitcoin with Liquid and AMP can connect with the Blockstream team directly at business@ About Blockstream Founded in 2014, Blockstream is a global leader in Bitcoin and blockchain infrastructure, with offices and team members distributed around the world. Serving as the technology provider for the Liquid Network, Blockstream offers a sidechain solution that enables secure, trustless Bitcoin swap settlements and robust smart contracts, empowering financial institutions to tokenize assets efficiently. The company's Core Lightning is a leading implementation of the open Lightning Network protocol, widely adopted for enterprise Bitcoin Lightning Network deployments. Blockstream Jade, an open-source hardware wallet, delivers advanced security for Bitcoin and Liquid assets in an easy-to-use form factor. For consumers, Blockstream app is a highly secure and user-friendly Bitcoin wallet. Disclaimer This press release contains forward-looking statements, including but not limited to statements regarding the expected launch timeline of the Blockstream Enterprise platform and time to market of Blockstream Asset Management products. Other 'forward looking statements' may, without limitation, include statements that are preceded by, followed by, or include the words 'believes,' 'expects,' 'anticipates,' 'intends,' 'plans,' 'estimates,' 'foresees,' or similar expressions, and other statements concerning anticipated future events and expectations that are not historical facts. Actual results may differ materially due to regulatory developments, competition from other hardware and technology services providers (in the case of Jade and the app) and both traditional finance and crypto native managers (in the case of BAM), market conditions and other risks. Actual results may differ materially. Blockstream undertakes no obligation to update these statements. Blockstream is not a registered investment, legal, or tax advisor. Nothing in this communication should be construed as investment advice or a solicitation to buy or sell any financial instrument.
National Post
30-04-2025
- Business
- National Post
Blockstream Shares Key Strategic Update on Growth & Expansion in 2025
Article content Article content MONTREAL, Quebec — Blockstream, the global leader in Bitcoin-powered financial infrastructure, has shared a key strategic update today highlighting several recent milestones, as the company looks to unveil several new innovations to expand Bitcoin's role in institutional finance and everyday user experience later this year. As announced previously, Blockstream raised $210 million in a financing round led by Fulgur Ventures in October 2024, and has already significantly expanded development and investment across its infrastructure and software offerings in 2025. Article content 'We are at a pivotal moment for Bitcoin's growth,' said Blockstream Co-Founder and CEO Dr. Adam Back. 'Spot ETFs have opened the floodgates, institutions are rushing to engage with Bitcoin, and individual interest is accelerating. As we look ahead, we will continue to explore ways to deliver the greatest impact with a focus on building the financial rails and infrastructure to help secure Bitcoin's success long term.' Article content As part of this broader expansion strategy Blockstream Mining, which becomes a newly independent company and will continue to operate under the well-established 'Blockstream Mining' brand, has also entered a new phase of growth, with over $350 million raised through a combination of equity and debt financing, alongside investments in its latest Blockstream Mining Note (BMN2). Article content Former President of Blockstream Mining Chris Cook, who launched and led the division, will serve as CEO of the newly independent company, bringing deep operational expertise and continuity of leadership. Article content Blockstream Co-Founder and CEO Dr. Adam Back, whose technical leadership and long-term vision were instrumental in shaping the mining business, will continue to support the company in an advisory role. Blockstream Satellite, which has long provided global Bitcoin data broadcast coverage, will also transition under the remit of the new mining entity. Article content Blockstream is additionally spinning out its ASIC division as a separate company with Assaf Gilboa as CEO (formerly EVP of Blockstream's Hardware Division), which will include a follow-on investment round and second in-progress round with the use of capital focused on ASIC R&D, including foundry services. Article content Key focus areas for Blockstream will continue to include development on Bitcoin layer-2 networks such as Liquid and Lightning, self-custody solutions like Blockstream Green and Jade, including the all-new Jade Plus, and institutional-grade custody tools. Article content Several new products aimed at creating a more streamlined and integrated user experience across Blockstream's technology stack are set to be unveiled at Bitcoin 2025 – Las Vegas in May. Article content To meet growing institutional demand, Blockstream launched Blockstream Asset Management (BAM) in February 2025, a new division focused on developing Bitcoin investment products for pensions, endowments, foundations and other sophisticated investors. Led by recently appointed CIO Sean Bill, a thirty-year hedge fund industry veteran, BAM reflects Blockstream's strategy to deliver end-to-end Bitcoin solutions built on Blockstream's full technology stack. Article content In January, Blockstream Capital Partners also completed a $75 million strategic investment into Komainu, a regulated digital asset custodian backed by Nomura's Laser Digital. The investment supports the integration of Blockstream's Liquid Network, Asset Management Platform (AMP) and enterprise-grade hardware security module (HSM) into Komainu's custody and off-exchange settlement systems, helping to raise the bar for institutional-grade infrastructure within the Bitcoin ecosystem. Article content Blockstream's long-term commitment to Bitcoin R&D remains at the heart of its vision. In November 2024, the company launched a dedicated research center in Lugano, Switzerland, focused on accelerating product development for the Liquid and Lightning networks and fostering collaboration with startups and academic institutions across Europe. Article content To further support its global expansion, Blockstream also opened a new office in Tokyo in early 2025, strengthening its presence in Asia and expanding collaboration with partners and developers in the region. Article content These efforts reinforce Bitcoin's role as a global financial and settlement layer, while supporting the next wave of decentralized innovation. Article content Founded in 2014, Blockstream is a global leader in Bitcoin and blockchain infrastructure, with offices and team members distributed around the world. Article content Serving as the technology provider for the Liquid Network, Blockstream offers a sidechain solution that enables secure, trustless Bitcoin swap settlements and robust smart contracts, empowering financial institutions to tokenize assets efficiently. Article content The companyʼs Core Lightning is a leading implementation of the open Lightning Network protocol, widely adopted for enterprise Bitcoin Lightning Network deployments. Article content Blockstream Jade, an open-source hardware wallet, delivers advanced security for Bitcoin and Liquid assets in an easy-to-use form factor. Article content Article content Article content Article content Article content
Associated Press
30-04-2025
- Business
- Associated Press
Blockstream Shares Key Strategic Update on Growth & Expansion in 2025
MONTREAL, Quebec--(BUSINESS WIRE)--Apr 30, 2025-- Blockstream, the global leader in Bitcoin-powered financial infrastructure, has shared a key strategic update today highlighting several recent milestones, as the company looks to unveil several new innovations to expand Bitcoin's role in institutional finance and everyday user experience later this year. As announced previously, Blockstream raised $210 million in a financing round led by Fulgur Ventures in October 2024, and has already significantly expanded development and investment across its infrastructure and software offerings in 2025. 'We are at a pivotal moment for Bitcoin's growth,' said Blockstream Co-Founder and CEO Dr. Adam Back . 'Spot ETFs have opened the floodgates, institutions are rushing to engage with Bitcoin, and individual interest is accelerating. As we look ahead, we will continue to explore ways to deliver the greatest impact with a focus on building the financial rails and infrastructure to help secure Bitcoin's success long term.' As part of this broader expansion strategy Blockstream Mining, which becomes a newly independent company and will continue to operate under the well-established 'Blockstream Mining' brand, has also entered a new phase of growth, with over $350 million raised through a combination of equity and debt financing, alongside investments in its latest Blockstream Mining Note (BMN2). Former President of Blockstream Mining Chris Cook, who launched and led the division, will serve as CEO of the newly independent company, bringing deep operational expertise and continuity of leadership. Blockstream Co-Founder and CEO Dr. Adam Back, whose technical leadership and long-term vision were instrumental in shaping the mining business, will continue to support the company in an advisory role. Blockstream Satellite, which has long provided global Bitcoin data broadcast coverage, will also transition under the remit of the new mining entity. Blockstream is additionally spinning out its ASIC division as a separate company with Assaf Gilboa as CEO (formerly EVP of Blockstream's Hardware Division), which will include a follow-on investment round and second in-progress round with the use of capital focused on ASIC R&D, including foundry services. Expanding Blockstream's Infrastructure, Layer-2 Development & Institutional Offerings Key focus areas for Blockstream will continue to include development on Bitcoin layer-2 networks such as Liquid and Lightning, self-custody solutions like Blockstream Green and Jade, including the all-new Jade Plus, and institutional-grade custody tools. Several new products aimed at creating a more streamlined and integrated user experience across Blockstream's technology stack are set to be unveiled at Bitcoin 2025 - Las Vegas in May. To meet growing institutional demand, Blockstream launched Blockstream Asset Management (BAM) in February 2025, a new division focused on developing Bitcoin investment products for pensions, endowments, foundations and other sophisticated investors. Led by recently appointed CIO Sean Bill, a thirty-year hedge fund industry veteran, BAM reflects Blockstream's strategy to deliver end-to-end Bitcoin solutions built on Blockstream's full technology stack. In January, Blockstream Capital Partners also completed a $75 million strategic investment into Komainu, a regulated digital asset custodian backed by Nomura's Laser Digital. The investment supports the integration of Blockstream's Liquid Network, Asset Management Platform (AMP) and enterprise-grade hardware security module (HSM) into Komainu's custody and off-exchange settlement systems, helping to raise the bar for institutional-grade infrastructure within the Bitcoin ecosystem. A Future Centered on Bitcoin Innovation Blockstream's long-term commitment to Bitcoin R&D remains at the heart of its vision. In November 2024, the company launched a dedicated research center in Lugano, Switzerland, focused on accelerating product development for the Liquid and Lightning networks and fostering collaboration with startups and academic institutions across Europe. To further support its global expansion, Blockstream also opened a new office in Tokyo in early 2025, strengthening its presence in Asia and expanding collaboration with partners and developers in the region. These efforts reinforce Bitcoin's role as a global financial and settlement layer, while supporting the next wave of decentralized innovation. For media enquiries, please contact Edward Moore, Blockstream Head of Public Relations ( [email protected] ) About Blockstream Founded in 2014, Blockstream is a global leader in Bitcoin and blockchain infrastructure, with offices and team members distributed around the world. Serving as the technology provider for the Liquid Network, Blockstream offers a sidechain solution that enables secure, trustless Bitcoin swap settlements and robust smart contracts, empowering financial institutions to tokenize assets efficiently. The companyʼs Core Lightning is a leading implementation of the open Lightning Network protocol, widely adopted for enterprise Bitcoin Lightning Network deployments. Blockstream Jade, an open-source hardware wallet, delivers advanced security for Bitcoin and Liquid assets in an easy-to-use form factor. Blockstream Green serves as a gateway to Blockstreamʼs cutting-edge technology suite, seamlessly integrating with Jade, Core Lightning, Bitcoin, and a rapidly-growing portfolio of tokenized assets on Liquid, offering a comprehensive solution for self-custody. View source version on CONTACT: Edward Moore Blockstream Head of Public Relations [email protected] KEYWORD: NORTH AMERICA CANADA INDUSTRY KEYWORD: PROFESSIONAL SERVICES OTHER PROFESSIONAL SERVICES BLOCKCHAIN TECHNOLOGY CRYPTOCURRENCY OTHER TECHNOLOGY DIGITAL CASH MANAGEMENT/DIGITAL ASSETS SOURCE: Blockstream Copyright Business Wire 2025. PUB: 04/30/2025 10:00 AM/DISC: 04/30/2025 10:02 AM
Axios
29-04-2025
- Business
- Axios
Bitcoin offers a politics-free medium for payments
Stablecoins are the biggest success in the world of cryptocurrency, with one exception: the original cryptocurrency, bitcoin, is bigger than all the rest of the crypto market, including stablecoins, combined. Why it matters: There are companies that believe the Bitcoin blockchain should also secure stablecoins — the tokens pegged to real-world money — which are being called the industry's killer app. The big picture: The market has made it very clear what it likes about stablecoins: speed, transparency and, most importantly, very close to zero volatility. Bitcoiners have an alternative thesis, that what the world really needs is money without politics. Bitcoin is really the only large, highly liquid and credibly neutral layer of transaction in the world. State of play: Bitcoin's blockchain is pricey to use, but its sister network, Lightning, is not. Credibly neutral it may be, but there's not a popular low-volatility instrument on Bitcoin or Lightning, yet. Driving the news: Lightspark announced Tuesday that it's created Spark, which enables issuing tokens and building apps in a trust-minimized way, one that relies on Bitcoin for security guarantees, in order to create a substrate that thousands of stablecoins could transact over. Lightspark previously released an easy-to-understand payments addressing system that looks like email, that international banks like Xapo and Nubank use today. It just announced a partnership with a platform for issuing stablecoins. What they're saying: Lightspark CEO David Marcus (an alum of PayPal and Meta, when it was still Facebook) tells Axios that it wants to make the Bitcoin blockchain the transaction medium for all kinds of stablecoins — thousands of them. "The way that the market currently is configured for stablecoins is not going to be the way that the market will look like two years from now," Marcus said. Between the lines: Stablecoins are attractive to banks and fintechs because issuers get to keep the yield earned off the principle, making for a very easy and sweet profit margin, at least at times with high interest rates. But if dropping interest rates don't kill that margin, competition will. Stablecoin issuers are already finding ways to share their yield with holders as a way to increase market share. But Lightspark has a plan for issuers to make money even after market forces push them turn over all their yields to users, which is only a matter of time. Zoom out: Lightspark isn't the only company out there looking to move global transactions onto Bitcoin. Strike is another Bitcoin-powered company that reaches 100 countries. Its founder managed to sell El Salvador on Bitcoin. It already enables stablecoin withdrawals in several companies. And it allows the most dedicated Bitcoiners to pay bills through the Strike app, with either bitcoins or money. What we're watching: Block Inc.'s Square point-of-sale network. Block has leaned into crypto, but mostly into bitcoin as an investment. It could, however, tap into stablecoins as a new payment option. It has a team working on it, based on LinkedIn posts. Block declined to comment for Axios. The intrigue: In a world that's becoming increasingly polarized, the U.S. weaponization of the dollar could drive more nations away from payment rails powered by U.S. money. If they have a hard time agreeing on an alternative state-backed medium, Bitcoin is right there. A convenient non-political meeting place for nations looking for an alternative. All it needs is for someone to build a system that could handle that kind of load.
New York Times
12-04-2025
- Business
- New York Times
Are You the Only One Who's Broke? Or Is It ‘Money Dysmorphia'?
On Instagram feeds, martini glasses clink in what feels like a never-ending loop. Photo carousels from nights out show low-lit steakhouses, tartare and soufflés, Luxardo cherries. (What, in this economy, is screaming Luxardo cherries?) A roommate's random co-worker is somehow lounging on yet another cabana in yet another tropical bathing suit. (Who owns that many bathing suits?) A co-worker's random roommate is inexplicably trying out a new Bitcoin-powered bathhouse. Just one click away is the news: flip-flopping on tariffs that could hit iPhones, T-shirts, backpacks and toothbrushes. There are wildly zigzagging red lines on market charts and somber television newscasters with panicked voices talking about retirement savings, which is angst-inducing even for people decades away from retirement. 'Phone-eats-first type of food, whatever viral sweater is going around on TikTok, the new work bag,' said Devin Walsh, 25, who lives in New York and works in marketing, listing the tempting purchases that flit across her Instagram, even, stubbornly, this past week. 'Meanwhile, everyone is referencing the Great Depression.' It's a dizzying time to be a 20-something inundated by social media feeds flashing other people's trips and restaurant reservations, which feel more over-the-top than ever, thanks to what trend forecasters call the 'boom boom aesthetic.' It's a recent embrace, by fashion labels, influencers and ordinary spenders, of lavish old-money consumption, like Gordon Gekko-inspired suits and endless (once verboten) furs. Many young people are plagued by pangs of economic self-doubt, telling friends or therapists that they can't keep up with the Joneses (and what the Joneses are posting on Instagram). Others are struggling to save, and then making impulse buys that leave them feeling anxious or guilty, that spending hangover from an 'oh why not' pair of shoes. 'You see a social media post and you're like, 'Maybe I'm doing something wrong,'' said Veronica Holloway, 27, a data analyst who lives in Chicago. 'Like somehow I must be being irresponsible if I'm not able to spend like this.' The resulting unease is leading to what financial planners call 'money dysmorphia.' A sibling of the term 'body dysmorphia,' meaning people who look in the mirror and do not see what's really there, it refers to people who have a distorted view of their own financial well-being. It's a mind-bending split-screen view of reality. 'You're in a position where you don't believe you have enough money, even though the numbers say you're OK,' said Aja Evans, a financial therapist with some clients who struggle with dysmorphia. 'It's easy for people to create a narrative around what they're seeing online — they're like, 'Oh my God, everyone is going away for spring break, I'm the only one who is staying home.'' These perceptions, unhinged from reality, lead some to hold back on spending unnecessarily. It could lead others to overspend, sometimes enabled by 'buy now, pay later' technologies; the average Gen Z consumer holds roughly $3,500 in credit card debt, according to data from Experian. A 2024 study conducted by Qualtrics found that nearly a third of all Americans reported feeling money dysmorphia, including 43 percent of Gen Z. For Ms. Holloway, this disquieting uncertainty about spending started in childhood, after both her parents lost their jobs in the 2008 financial crisis. Her family lived below the poverty line, she said. Ms. Holloway thought twice about even necessary expenses. When she bought a pair of $130 sneakers for her high school cross country team, she spent a week feeling sick to her stomach. She has never been able to fully shake her worries, even now that she has a paycheck that more than covers her rent and meals. It does not help that her social media acts as a highlight reel of friends' expenses, from flashy dinners to acrylic nails. What's known as the hemline theory says that when the economy becomes stronger, skirts lengths become shorter; boom times mean people want to party. A corollary that some economists and sociologists have found is that when the economy turns downward, tastes for little luxuries sometimes grow. During the 2008 financial crisis, some scholars reported seeing the 'Lipstick Effect,' which was consumers spending more on small cosmetic items, perhaps as a way to feel slightly better about the state of the world, or at least about their faces. And in the early 1980s, when the economy cratered, fashion turned gaudy and over-the-top. One popular poster from the time shows a man in a tweed jacket and English riding pants leaning against a Rolls-Royce, cocktail glass in the air. 'That display of preppy-style wealth came during the worst economic recession since the 1930s,' said Douglas Rossinow, a historian and the author of 'The Reagan Era.' That tendency toward crisis-inflected lipstick spending has been layered on top of a financial reality that is already confusing for young people. For years, millennials were living with a warped sense of financial security because of venture capital money essentially subsidizing DoorDash deliveries and Uber rides. Social media invites people to post only their most hard-to-get dinner reservations and 'White Lotus'-reminiscent beach travel. Now the economic picture is particularly uncertain, and the Instagram aesthetic is particularly luxurious. 'There was this more subdued, minimal norm-core look of the 2010s where people were trying to occlude their power or wealth — which came out of Silicon Valley and its casual approach to the workplace — that has fallen out of favor,' said the trend forecaster Sean Monahan. Mr. Monahan, who coined the term 'boom boom aesthetic' in December, has tracked a recent surge in posts of flashy finery: caviar bumps, broad-shouldered suits, Chateau Marmont parties, 1980s-style decadence. 'People feel like they're participating in status games very explicitly,' he said. 'The social hierarchy is in flux.' Dessie DiMino, a tech worker, notices when friends post pictures from ski resorts and music festivals. She has had to ratchet up the voice in her head reminding herself to save as she follows headlines about economic uncertainty and the tariffs that seemed poised to hit her daily spending, including grocery items like coffee beans and chocolate. 'I don't want to just stop doing everything, but I know there are days I should really bite the bullet and stay home,' said Ms. DiMino, 27. To Ms. Walsh, the marketing employee from New York, the draw toward prudence feels especially tricky for her generation because of the shared sense that they're living under a cloud of incessant crisis — Covid-19, climate change, political turbulence. Sometimes, she tells her mother, it's hard to muster the discipline to save when she keeps hearing that the sky is falling. 'We're more inclined to spend frivolously because of this looming main character energy of 'The world is going to end anyway,'' Ms. Walsh said. 'What are we saving for?' In February, she splurged on hosting a Valentine's Day party in her Hell's Kitchen apartment, spending hundreds of dollars on heart-shaped sunglasses that she mounted to the wall to feel like a Sunglass Hut, a sink filled with alcohol and a new $150 heart-printed dress. 'Was it a rational use of funds?' she said. 'Maybe not.' Financial planners, especially those who work with young people, are trying to help clients who are feeling throttled by these economic shifts. Some of these clients are buying up new blazers and vacations as a balm for their broader sense of anxiety about where the economy is headed. Others are avoiding even reasonable purchases. 'I work with somebody who started cheaping out on groceries, even though her family's financial future doesn't hang on a trip to Whole Foods,' said Matt Lundquist, a therapist in Manhattan. 'The inverse end of that is people being much more pleasure seeking — getting the Chanel bag, the 'Oh forget it, I've been wanting these shoes.'' Kara Pérez, who founded an organization that educates women on managing finances, has seen this uncertainty reshape her clients' views on class. Some are overwhelmed by the affluence they see on social media, and it makes them lose sense of whether or not they are financially comfortable. Ms. Pérez said some clients whom she would describe as firmly middle class no longer saw themselves that way. 'A lot of people are like, 'I'm not Kim Kardashian, I'm not Elon Musk, therefore I am broke,'' Ms. Pérez said. Ms. Pérez also sees this sentiment in comments that users leave on her social media page. On TikTok, where Ms. Pérez calls herself a personal finance expert, she's forgiving of those who reply to her posts amid the chaos of the moment, effectively saying: 'There's no point in saving babe, we're not going to retire. It's OK to spend extravagantly now.'
