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Hi Investors,

 

We’re pleased to share this week’s portfolio and market highlights. With 10T portco eToro going public, Coinbase joining the S&P 500, and major moves in stablecoin payments, the week of May 11–18 was full of milestones.

 

3

eToro Goes Public on Nasdaq and Has a Surging Debut

→ Coindesk

 

Coinbase to Join S&P 500 on May 19

→ S&P Global

 

Coinbase Discloses Security Breach Affecting Customer Data

→ Coinbase

 

Yuga Labs Sells CryptoPunks IP to Art Nonprofit

→ BusinessWire

 

Mastercard and MoonPay Partner to Bring Stablecoin Payments to Merchants

→ Mastercard

 

BlackRock Launches sBUIDL on Avalanche

→ The Defiant

 

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Animoca Considers U.S. Listing

→ FT

Circle Partners with Stable "App" for Free On/Off-Ramps

→ X

Coinbase Looks to Acquire More Companies Post-Deribit

→ Bloomberg

Futureverse Partners with GameTree

→ X

5

14MM BTC is now effectively illiquid (~66% of supply)

photo_2025-05-15_11-36-27

Cryptocurrency + stablecoin mentions in SEC filings reached ATH in April

photo_2025-05-06_11-32-38

Wallet-native swap volumes hit new weekly highs, led by Binance

Screenshot 2025-05-18 112041

Solana apps generated ~49% of all global app revenue in April

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6

Openverse (Blockchain Dev Infra) – $11M Strategic Round

→ AINvest

Nakamoto Merges with KindlyMD, Raises $710M

→ BusinessWire

Trump-Affiliated American Bitcoin to Go Public via Gryphon Digital Merger

→ The Block

Robinhood Acquires WonderFi for $180M

→ Reuters

Robinhood Offers Free Solana Swaps to Gold Members

→ X

VanEck Launches Tokenized U.S. Treasury Fund

→ Coindesk

JPM Settles First Public Tokenized Treasuries Trade Using Ondo

→ Fortune

Lummis and Moreno Press Treasury on Crypto Tax Guidance

→ The Block

USDG Adds 19 New Members

→ The Block

USDT Supply Surpasses $150B

→ The Block

7
  • May 19 – CME launches cash-settled XRP futures
  • May 19 – Coinbase joins the S&P 500
  • May 19 – Pyth unlocks 59% of circulating supply (~$354M)
  • May 19–23 – Solana Accelerate (NYC)
  • May 20 – Lido Node Operator Community Call
  • May 21–22 – Crypto Expo Dubai
  • May 22 – Bitcoin Pizza Day
  • May 22 – $TRUMP token holder gala with U.S. President
👀 50Tweet of the Week - Tad Smith – On My Mind This Morning…
📝 Research Piece of the Week - The Rise of Onchain AI: Agents, Apps, and Commerce
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