199: Circle lends without lending
Circle adds Aave borrowing, regulators propose crypto rules without Congress, Samsung plans USDC transfers and Ripple expands prime brokerage.
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197: SoFi targets $25B in card settlement
SoFi begins stablecoin card settlement, NYSE pursues Blockchain.com distribution, Ondo launches BlackRock-strategy portfolio tokens, and the ECB opens Pontes.
The Fat Protocol Thesis Is Dead
Crypto's old cycle logic is breaking as distribution, not protocol ownership, becomes the scarce layer.
Robinhood just rented a bank
Robinhood combined a blockchain, stock tokens and agentic trading — the clearest attempt yet to turn brokerage distribution into financial infrastructure.
Deutsche Börse bought its way into US crypto stack
On April 14, the operator of Frankfurt exchange, Deutsche Börse AG, dropped $200M for a 1.5% stake in Kraken, exactly six weeks after Kraken quietly became the first crypto firm in history to receive a Federal Reserve master account.
Wall Street's new darling
On Monday, Citadel Securities, the DTCC, the New York Stock Exchange, Google Cloud, ARK Invest, and Tether backed a single Layer 1 called Zero.
Why crypto broke
Three pipes burst at the same time: the U.S. Treasury sucked $200B out of bank reserves, Japan ended 30 years of free-money leverage, and AI's hype cycle suddenly became a risk event.
The end of the closing bell
The New York Stock Exchange (NYSE) just dismantled Wall Street’s most long-boundary: market hours.
Coinbase is no longer a crypto exchange
Hey, it’s Marc.
Kraken isn't building a crypto exchange
[Our daily CEO briefing for PRO readers]
140: Centralized wins
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139: Crypto’s $8T unlock
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138: PayPal, Coinbase, Circle
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137: Goldman goes onchain
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134: Goldman invests in Layer 1
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133: Kraken vs. Paypal
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131: Stripe x Shopify x Privy =
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130: Circle IPOs, Jamie bends and Wall Street buys in
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Stablecoins x AI: The next supercycle?
Our Stablecoin x AI report is out now (PDF below)
123: Crypto Mining in Need of Creatine?
Top 20 chain collapses 90%. Crypto pivots to AI. Revolut takes on Amex. Visa joins the Global Dollar Network (USDG). Safe Superintelligence raises $2B. Futureverse acquires Candy Digital.