Thiel-backed Plasma launches stablecoin neobank as XPL jumps 20%
XPL rallies on Plasma’s stablecoin neobank launch while Bitcoin waits on Warsh and BitGo rebounds after its buyback announcement.
Powered by Gloria
Stablecoins are quietly becoming crypto's most investable category.
Today's stories span the full stack, from consumer banking to backend infrastructure.
Trace Finance just pulled a 10x valuation jump in a market that's punishing public crypto companies.
Meanwhile, Peter Thiel is betting that stablecoin neobanking can go mainstream.
The money is following the pipes, not the hype.
Thiel-backed Plasma debuts stablecoin neobank with Visa card and XPL rewards
Plasma just launched a neobank that lets you spend stablecoins with a Visa card.
The app bundles blockchain payments, banking, and XPL token rewards into one interface.
XPL jumped 20% on the news, though it's still down 94% from its highs.
If stablecoins are going to reach normie wallets, this is what the onramp looks like.
Markets
Markets drift lower as traders brace for Warsh's first Fed meeting
Kevin Warsh is about to chair his first FOMC meeting, and markets are oddly calm.
The consensus expects rates to hold steady. The real signal is Warsh's policy statement and press conference.
That quiet confidence could set up a nasty surprise if the tone turns hawkish.
BTC slipped below $66K, ETH dipped near $1,758, SOL held around $73, and XRP eased to $1.20.
BitGo announced a $50M share buyback and the stock rallied.
The crypto custodian's shares still sit 65% below their IPO price.
Buying back your own stock at a deep discount is either conviction or damage control.
Trace Finance raises $32M Series A, valuation grows 10x from seed
Stablecoin infrastructure startup Trace Finance just closed a $32M Series A.
The round values the company at 10x its seed valuation from last year.
Private investors are clearly pricing stablecoin plumbing as a growth bet, not a bear market casualty.
On Our Radar
The AI-news loop: Crypto's latest narrative machine keeps investors perpetually online and confused.*
Bipartisan Bankman blockade: Senators urge Trump to keep SBF locked up post-presidency.
Fed's hawkish turn: Bitcoin slides as Warsh takes the helm at Powell's table.
*sponsored
ICYMI
Meme of the Day
Until next time.
Estéfano
|
|
