50T Investor Newsletter (Feb 2nd)
Feb 2, 2026
Hi Investors,
Markets were volatile this week, but the underlying infrastructure continues to move forward. Tether launched USAT through Anchorage, Fidelity introduced its own dollar token via its trust bank, and Kraken added an onchain yield product inside its frontend. The SEC clarified its stance on tokenized securities, while Robinhood and ZeroHash made strategic infrastructure bets that reflect growing institutional demand. The pace of development across regulated, onchain financial products continues to accelerate.
Below are the key developments:
Market Moves
Tether launched USAT, a GENIUS Act–compliant stablecoin issued by Anchorage Digital under OCC supervision, marking its first U.S.-regulated product
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Fidelity announced FIDD, a GENIUS Act–compliant stablecoin issued through Fidelity Digital Assets’ OCC-chartered trust bank
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The SEC issued definitional guidance on tokenized securities, distinguishing issuer-sponsored tokenization from third-party wrappers
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ZeroHash walked away from a potential Mastercard acquisition and is instead in talks to raise $250MM at a $1.5Bn valuation
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Robinhood invested in Talos at a $1.5Bn valuation to deepen institutional trading and liquidity infrastructure
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Polymarket signed an exclusive licensing deal with MLS, the largest U.S. soccer league
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Ethereum prepared to launch a mainnet standard for the AI agent economy
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Crypto custody firm Copper is evaluating an IPO as institutional crypto infrastructure demand grows
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The UAE central bank has approved a U.S. dollar stablecoin to support digital asset settlement
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Tether reported over $10Bn in net profit in 2025 as excess reserves surpassed $6.3Bn
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Portfolio Headlines
 | Coinbase launched prediction markets in all 50 U.S. states through Kalshi The White House summoned Coinbase and major banks to discuss crypto legislation Coinbase integrated Jupiter into its trading stack, allowing in-app Solana token trading |
 | Figure launched OPEN, allowing companies to issue and trade equity natively on Provenance Blockchain with BitGo custody and Jump Trading market-making, bypassing DTCC registration entirely |
 | CFTC tapped Tyler Winklevoss and other crypto CEOs as first members of its new innovation panel to advise on digital asset policy → Link |
 | Kraken launched DeFi Earn with USDC vaults managed by Chaos Labs and Sentora, offering up to 8% onchain yield across the US, EU, and Canada |
 | QuickNode launched Ask AI, enabling natural-language queries across its developer platform |
 | TRM reported crypto crime reached an all-time high in 2025, with Russian stablecoins playing a key role |
Charts of the Week
Vaults continue to see steady growth, sitting at roughly $6Bn today, as onchain asset management garners increasing retail and institutional attention
Monthly transaction on L2s now outpace L1s by nearly 9x - Ethereum has been able to solve its transaction bottleneck
Solana Daily Validators continue to shrink, down 300%+ from the all-time highs
U.S. winter storms and miner capitulation drove the largest hashrate drop since China's 2021 mining ban
Industry News Flash
Notable Raises
Mesh – Wallet Orchestration Platform
Raised $75MM in a Series C led by Dragonfly Capital at a $1Bn valuation to expand globally and strengthen its wallet and exchange connectivity network
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Flying Tulip – DeFi Trading Platform
Raised $25.5MM in a private token Series A at a $1Bn FDV to build an onchain exchange combining spot, perps, lending, and a native stablecoin
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Industry News
Citrea launched mainnet as a ZK-powered Bitcoin Layer 2
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World token jumped 27% as Sam Altman reportedly explored a biometric social network
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Optimism token holders approved a buyback plan redirecting 50% of protocol revenue to OTC swaps
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Vitalik Buterin committed roughly $45MM in ETH to open-source security and privacy projects
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Lido launched stVaults on mainnet with institutional Day 1 users
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Japan’s regulator opened public consultation on bonds eligible for stablecoin reserves
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Arizona lawmakers advanced a bill to exempt crypto from property taxes
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The crypto market structure bill cleared the U.S. Senate Agriculture Committee
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Donald Trump nominated Kevin Warsh as Federal Reserve Chair
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Tether revealed it holds 140 tons of gold worth $24Bn in a Swiss nuclear bunker
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Tether publicly supported a stablecoin yield ban in a market structure bill
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Ripple launched Ripple Treasury, a platform combining cash and digital asset management
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Matcha Meta users were hit in a $13.4MM SwapNet contract exploit
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Bybit announced its upcoming “My Bank” feature for IBAN fiat–crypto transfers
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Binance pledged a $1Bn bitcoin support fund as markets fell to multi-month lows
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Media & Insights
📄 Research Piece of the Week: Messari
📌 Post of the Week: Dan Tapiero