Coinbase doubles down on Solana

Crypto markets faced another massive washout this morning, with almost $2 billion in leveraged positions liquidated as Bitcoin plunged below $82,000, notching in losses of now -30% from ATHs that were hit just a month ago. Reminder: For some, BTC is the first thing sold when macro jitters hit. For others, its the last thing touched. It all depends on how you view it: Risk-on, or risk-off?

In the bigger picture, this correction continues to look like a classic leverage washout rather than a thesis change. Now, we shouldn't be the only the one's telling you this but if your long-term conviction remains unfazed, right about now is an awesome opportunity to load up the truck. Read more →

Coinbase is acquiring the decentralized Solana trading platform Vector.fun to pipe its tech directly into the Coinbase app as part of the company’s “everything exchange” push. The product’s users primarily trade memecoins and can follow other traders’ bets and investments. Vector.fun’s apps will be shut down, its 13-person team hired, and the deal is expected to close by year-end (terms weren’t disclosed). This marks Coinbase’s ninth deal/purchase of 2025, 3x more than its M&A activity the year prior. Read more →

Last week we highlighted the pernicious dealings of many of the current DAT sponsors – primarily Anthony Pompliano. Days later, activist hedge fund Glazer Capital reported that they have amassed a 7.7% position in the SPAC taking Pompliano’s DAT (ProCap) public. The fund is pushing for a renegotiation of the sponsors payout amongst other things. If Glazer is successful, we expect to see more of these kind of activist stakeholders. And as some DATs are beginning to actually sell some of their holdings… it may be needed. Read more →

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