On The Brink with Castle Island Weekly Roundup 05/09/25 (GENIUS stalls, Coinbase buys Deribit, Bessent on stables) (EP.622)
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May 9, 2025 This week dives into the dramatic collapse of the GENIUS Act and its implications on the crypto landscape. Coinbase's strategic acquisition of Deribit takes center stage, reshaping options trading. The hosts also marvel at the election of a new Pope, tying faith to finance in an unexpected twist. Discussions include the potential of stablecoins reaching $2 trillion, while Stripe enters the scene with stablecoin financial accounts. Additionally, the SEC's interest in a sandbox for tokenized securities stirs curiosity about the future of regulation.
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Ampersand's Surprising Origin
- The ampersand (&) was historically the last letter of the English alphabet.
- Its name comes from the phrase "and per se and" which merged into "ampersand."
Avoid Meme-Number Fundraises
- Avoid using meme numbers like $6.9 million or $4.20 million for fundraising rounds.
- Such rounds make projects look amateur and should be represented as approximate amounts instead.
Coinbase's Game-Changing Deribit Deal
- Coinbase acquired Deribit, the largest options marketplace in crypto, expanding into a new business line.
- This $2.9 billion deal likely wouldn't have occurred under the Biden administration and Gary Gensler's SEC.