CEO Notes
Robinhood built a bigger business that makes less money
A tenth the take.
51 Intelligence
Latest
Understand the shifts changing digital assets and global finance.
See latest ↓Latest stories
100 publicationsCEO Notes
21 globally systemic banks to launch stablecoin
Shared float.
CEO Notes
Japan Puts Its Settlement Layer on a Chain
Hey, it’s Marc.
CEO Notes
A Wyoming Bank Beat JPMorgan Out the Door
Narrow banking.
CEO Notes
Cloudflare gives AI agents a corporate card
Spend management.
Briefing
190: Western Union ships a stablecoin card
Mastercard closed BVNK, Western Union shipped a stablecoin card, Visa opened stablecoin payouts, and Circle's numbers explain why: volume is exploding while the float lags far behind.
CEO Notes
Circle Built a $73 Billion Dollar and Keeps a Quarter of a Cent
Circle reported $701 million in Q2 revenue this morning, took final approval from the OCC for its national trust bank charter, and set 16 September as the mainnet date for Arc, its own settlement chain, with BlackRock, DTCC, Visa, and Mastercard among the founding validators.
CEO Notes
Tether’s gold pile grows while its safety buffer shrinks
Tether published its Q2 2026 attestation in late July.
CEO Notes
Ten European banks launch joint blockchain
In 1973, a group of banks had a problem: none of them trusted a rival to run the wires between them.
Reports
The tokenized private credit opportunity
Our biggest report on the tokenized private credit opportunity yet.
CEO Notes
one clause decides crypto's decade
The market-structure fight is narrowing to a single clause — and the outcome could set crypto's US path for the decade.
CEO Notes
DTCC traded tokenized stocks in production
DTCC moved tokenized equities from pilot language into production. The real signal is what market infrastructure now treats as deployable.
CEO Notes
there won't be another cycle
Crypto's old cycle logic is breaking as distribution, not protocol ownership, becomes the scarce layer.
CEO Notes
Swift Goes On-Chain: 17 Banks Pilot 24/7 Tokenized Payments
Seventeen banks tested 24/7 tokenized payments with Swift, pushing interoperability closer to institutional production.
CEO Notes
tokenized stocks' first $3B month
Tokenized equities cleared their first $3 billion month, a threshold that changes the market-structure conversation.
CEO Notes
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.
CEO Notes
The interest business
This week, the Open Standard consortium announced Open USD, backed by more than 140 founding members, including BlackRock, Mastercard, Visa, Stripe, Ripple, Kraken, Galaxy, Robinhood, and others.
CEO Notes
stripe, visa and blackrock vs circle
Hey, it’s Marc.
CEO Notes
Robots got bank accounts
Mastercard announced Agent Pay for Machines (AP4M), Visa announced Agent Score.
CEO Notes
America is locking up its Bitcoin for 20 years
The full text of H.R. 8957, the American Reserve Modernization Act is public. A 20-year lock-up, mandatory proof-of-reserve, and zero new spending authority on all BTC deposited into the reserve.