50T Investor Newsletter (Nov 10)
Nov 10, 2025
Hi Investors,
Last week highlighted the growing intersection of crypto, AI, and traditional finance. Ripple raised $500MM at a $40Bn valuation to build a full-stack institutional platform, while Animoca announced plans to go public via a reverse merger. JPMorgan and Chainlink advanced tokenization rails with real-world fund redemptions, and Cipher Mining signed a $5.5Bn AI hosting deal with AWS. Meanwhile, Gemini’s upcoming CFTC-regulated prediction markets and DraftKings’ entry into the same category signaled a mainstream turn for event-based trading. Zenrock’s wrapped Zcash token, zenZEC, also crossed $15MM in volume during its first week on Solana - underscoring early traction for composable privacy assets in DeFi. Across the board, institutional integration and real-world use cases continued to drive market resilience despite short-term volatility.
Below are the key developments:
Market Moves
Ripple Raises $500MM at $40Bn Valuation, Expands Into Full-Stack Institutional Infrastructure
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Berachain Halts Network Following $128MM Balancer-Linked Exploit
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Google began integrating Polymarket and Kalshi data into Search, displaying real-time prediction market odds
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Gemini to Launch CFTC-Regulated Prediction Market Contracts
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DraftKings & FanDuel Move Into Prediction Markets
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A Columbia University study found that up to 25% of Polymarket’s trading volume may be artificial, suggesting significant wash trading activity
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Stream Finance Suffers $93MM Fund Loss and XUSD Stablecoin Collapse
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Portfolio Headlines
 | Animoca Brands to Go Public via Reverse Merger with Currenc Group |
 | Cipher Mining Signs $5.5Bn, 15-Year Lease Deal with AWS for AI Compute Capacity |
 | The Central Bank of Ireland fined Coinbase Europe $25MM for anti-money laundering and due diligence failures Coinbase launched a platform for public token offerings, allowing individual investors to buy digital tokens before listing |
 | 50T incubated Zenrock’s zenZEC - the first wrapped ZEC on Solana - surpassed $15MM in cumulative trading volume within its first week, highlighting strong early demand for composable privacy assets and cross-chain liquidity |
Charts of the Week
Just a week after launch, zenZec is already doing more than $3.5MM in daily volume
Crypto market cap (ex-stablecoins) remains structurally elevated despite sentiment drawdown
Aave’s Horizon RWA market has surpassed $500MM in total market size since launch, reflecting accelerating adoption of tokenized Treasuries and stablecoin-backed assets across DeFi
Wrapped Bitcoin products have doubled in transfer activity since January, indicating real usage beyond just TVL
Industry News
Notable Raises
Commonware – Open-Source Payments Infrastructure
Raised $25MM in a seed round led by Tempo to build open-source payments infrastructure enabling developers to integrate stablecoin settlement and onchain payment rails
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Donut Labs – AI-Powered Crypto Trading Browser
Raised $15MM in a seed round backed by BITKRAFT, HSG, Makers Fund, Sky9 Capital, and Hack VC to develop an AI-driven “agentic” trading browser
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FOMO – Cross-Chain Trading Application
Raised $17MM in a funding round led by Benchmark, with angel investments from Ivan Soto-Wright and Luca Netz, to expand its unified cross-chain trading app
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Lava – Bitcoin-Backed Lines of Credit
Raised $200MM in debt financing to expand its BTC-backed credit platform and offer new borrow rates starting at 5%
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Stewards Inc. – Digital Asset Infrastructure Platform
Raised $10MM in a private placement led by the Dolomite Foundation to expand custody and compliance partnerships
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Industry News
MoonPay integrated with Pump.fun, enabling users to fund and launch tokens directly
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AI payments startup Kite debuted its token with $263MM in trading volume within two hours of launch
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Chainlink introduced its Cross-Chain Reconciliation Exchange (CRE), a new standard for institutional tokenization and settlement
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S&P Global announced that its Digital Markets Index will feature blockchain-verifiable data via Chainlink
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Robinhood CEO said the firm is considering adding Bitcoin to its corporate treasury
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Charles Schwab’s CEO confirmed plans to offer Bitcoin trading in 2026
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Canada proposed national stablecoin licensing under the Bank of Canada
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Kazakhstan announced a $1Bn crypto reserve fund launch by 2026 using seized assets
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Japan’s FSA will support banks in issuing yen-backed stablecoins under a new framework
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The CFTC confirmed plans to advance a framework for leveraged spot crypto trading
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Ferrari unveiled plans for a crypto token exclusive to existing owners, integrating rewards and payments into its ecosystem
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UBS and Chainlink completed the first onchain tokenized fund redemption on Ethereum
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xStocks launched tokenized versions of Nvidia, MicroStrategy, and other equities on Mantle Network
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Looking Ahead
Nov. 10-12: Cantor Crypto & AI Conference (50T CEO/CIO, Dan Tapiero, speaking)
Nov. 12: The Bridge Presented by The Tie (50T Partner, Randy Little, speaking)
Media & Insights
📄 Research Piece of the Week: Renaud Partners
Zenrock Deep Dive
📌 Post of the Week: Dan Tapiero
Bull Markets End in Euphoria, Not Fear
🎤 Podcast of the Week: Zr Talks
Episode 9: Adi Dave, Jack Krevitt, and Josh Siegler