50T Investor Newsletter (Jun 16)

Hi Investors,

The week of June 8 – June 15 saw major announcements from Coinbase and Shopify, new regulatory wins, and Solana ETFs gaining traction. Here’s what you might’ve missed:

Market Moves

Coinbase Unveils Major Products at “State of Crypto” Summit
→ Bankless

Shopify Enables USDC Payments via Coinbase and Stripe
→Shopify

Walmart & Amazon Consider Launching Their Own Dollar-Pegged Stablecoins
→ WSJ

Stripe Acquires Privy to Expand Web3 Infrastructure
→ Coindesk

Circle Launches USDC on XRP Ledger
→ Cointelegraph

Spot Solana ETF Inches Closer to Approval
→ Cointelegraph

Portfolio Headlines

	Cipher Mining: July Ops Update (Aug 5) + Q2 Earnings (Aug 7) → Cipher
	Animoca Makes Strategic Investment in Cool Cats → Animoca
	Coinbase Adds DEX Trading to U.S. Platform in Push to Become the ‘Everything App’ → CoinDesk
	Yuga Labs Sells Over 5,000 NFTs to Scrap-Metal Billionaire Adam Weitsman → The Block
	Zenrock Publishes Full July Recap → X

Charts of the Week

ETH ETF inflows nearly match BTC ETF inflows when adjusted for market cap

Onchain active loans exceed $25Bn for the first time ever — Aave holds ~66% of the market

RWA sector grows 260% YTD, reaching ~$23Bn in market cap

USDC transfer volume and count hit all-time highs on Ethereum in Q1’25

Industry News

Notable Raises

Noah – Raises $22MM for Cross-Border Stablecoin Payments
→ Fortune

Hypernative – Raises $40MM for Web3 Risk Management
→ Hypernative

OneBalance – Raises $20MM for Multichain Dev Tools
→ Cointelegraph

Turnkey – Raises $30MM in Series B for Wallet Infra
→ Fintech Futures

TYB – Raises $11MM in Series A for Blockchain Community Rewards
→ Coinstats

Yupp – Raises $33MM from a16z for AI Evaluation Platform
→ The Block

Industry News

Bullish – Files for IPO
→ FT

Uphold – Exploring IPO
→ The Block

World – Expands to the UK
→ CNBC

Over 30% of Bitcoin’s Circulating Supply Held by 216 Entities
→ Gemini

Crossmint – Launches Toolkit for Agentic Finance
→ LinkedIn

Cetus Protocol – Restarts After $223MM Exploit Recovery
→ The Block

US Senate Advances the GENIUS Act
→ The Block

SEC Scraps Gensler-Era DeFi Rule Proposals
→ The Block

Societe Generale to Launch Dollar-Pegged Stablecoin on Ethereum & Solana
→ Reuters

DTCC Explores Launching Its Own Stablecoin
→ X

Looking Ahead

6/16: Arbitrum unlocking 1.91% of its supply (~$30MM)

6/17: Senate vote on the final passage of the GENIUS Act

6/17: ApeCoin unlocking 1.95% of its supply (~$10MM)

6/19-6/21: BTC Prague 2025 Conference

6/20: Voting ends for Arbitrum DAO’s proposal for an $80MM incentives program

Media & Insights

Check out our latest 50Talks conversation hosted by Josh Siegler with Pascal Gauthier, CEO and Chairman of Ledger - a deep dive into what’s next for self-custody in a post-ETF world.

📌 Tweet of the Week: Dan Tapiero
Chart Time for Coinbase

 📝 Research Piece of the Week - Revenue: The Missing Piece for Crypto PMF
→ Link