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
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