Crypto
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Elizabeth Warren seeks information on Meta’s latest stablecoin plans in letter to Mark Zuckerberg
Meta rolled out a stablecoin pilot on Facebook last week following years of false starts, and it didn’t take long before a familiar antagonist took notice. On Wednesday, Sen. Elizabeth Warren (D-Mass.) delivered a letter to Meta CEO Mark Zuckerberg calling its “lack of transparency” surrounding its stablecoin plans “troubling” and seeking answers to a…
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Trump’s AI policy team came into office opposing everything Biden did. Now it’s on the cusp of implementing many of the same policies
When it comes to AI, the Trump Administration has largely positioned itself as the opposite of the Biden White House—criticizing what Trump’s tech policy advisors saw as overly burdensome AI safety efforts and licensing regimes, and embracing an anti-regulation approach. Former Trump “AI and crypto czar” David Sacks best embodied this policy ethos. But the…
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Wall Street is abuzz about ‘tokenized assets’—but most activity is limited to a nascent ‘wrapper’ phase, report finds
Finance leaders from BlackRock’s Larry Fink to Robinhood’s Vlad Tenev have displayed enthusiasm for tokenization, a term for representing real-world assets as tokens on the blockchain. But despite the excitement, roughly 78% of tokenized assets remain only as “wrappers,” or receipts for assets that primarily operate off-chain, according to a new report from crypto asset…
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Zcash spikes 30% after Multicoin managing partner says firm bought the token, calls it protection against wealth taxes
ZEC, the native token of the privacy-focused Zcash network, rose by more than 30% after Multicoin Capital co-founder and managing partner Tushar Jain said the crypto fund had built a “significant position” in ZEC since February. “Zcash is a return to the cypherpunk ideals crypto was founded on,” Jain wrote on X. “California’s proposed wealth…
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Over 98% of stablecoins are dollar backed. That’s good for the U.S.—until it’s not
Stablecoins, a form of cryptocurrency pegged to a real world asset, are becoming part of the global financial system, with firms like Visa and Stripe rushing to distribute them. They are also overwhelmingly dollar based. While there are euro stablecoins and gold stablecoins, more than 98% of the total market supply is pegged to the…
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Coinbase didn’t just lay off 14% of its staff due to AI. It replaced managers with ‘player-coaches’ and turned its org chart upside down
Coinbase CEO Brian Armstrong is adapting the company for the AI age, cutting 14% of employees and reimagining its org chart to bring the company back to its startup roots. Armstrong said the layoffs, which could affect just under 700 employees based on Coinbase’s last employee count, are partly due to a crypto downturn. Yet,…
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MoonPay acquires Solana trading infrastructure platform in $100M all-stock deal
The crypto payment and infrastructure firm MoonPay has acquired DFlow, a platform that facilitates trading on the Solana blockchain. MoonPay paid $100 million in stock to scoop up DFlow, two sources with direct knowledge of the matter told Fortune. MoonPay has been on a dealmaking spree, making six acquisitions since the beginning of 2025. Those…
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Andreessen Horowitz’s crypto arm raises $2.2 billion for fifth venture fund, promotes CTO Lazzarin to general partner
The biggest name in crypto venture capital closed another mammoth fundraise. The digital assets arm of Andreessen Horowitz, which goes by a16z crypto, announced Tuesday morning that it’s drummed up $2.2 billion for its fifth venture fund. The firm also announced it has promoted its CTO Eddy Lazzarin to general partner. Andreessen Horowitz is one…
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Solana firm Jito launches a consumer trading app months after raising $50 million
Over the past four years, crypto startup Jito has made its name building infrastructure for the Solana blockchain network. But coming off of a banner 2025, Jito is no longer content to remain on the back end of crypto trading and plans to launch a consumer-facing trading app, called JTX, in July. The app will…
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Exclusive: Kraken to let customers cash out crypto at MoneyGram locations in more than 100 countries
Crypto transfers are typically instant and seamless—unless, that is, users want to convert their digital currency into cash. In those cases, users in many countries are obliged to navigate a slow, complex conversion system. Customers of the crypto exchange Kraken have long complained about this problem, which is why the firm has partnered with the…