Per the WSJ, companies have raised $86B to buy #BTC and other crypto tokens since the start of 2025 - more than double what was raised in U.S. IPOs. Crypto is no longer a niche. Every Wall Street firm is paying attention and working on a strategy.

Seeing a lot of "Plasma Raises $373M in Oversubscribed Token Sale" headlines. Oversubscription ≠ amount raised. Investors put in $373M in orders vying for $50M in tokens being sold by @plasmaFDN. Very impressive number, but very different things. x.com/PlasmaFDN/stat…

The Information is reporting that Kraken is looking to raise $500M at a $15B valuation in a new round. Seeing some people posting that it's an IPO - but that's not what the article is saying. Quite the opposite - that this round can help it get the roster of institutional

Nice catch by The Defiant on the JPMorgan-Coinbase partnership. JPM cutting out Plaid for direct bank-to-Coinbase rails isn’t innovation - it’s defense. Fintechs and crypto #zkTLS are pushing the envelope. JPM is being dragged into the future, not leading it.

💯 exactly what I have been saying. On top of that, the combination of tokenization and AI will blur the lines between asset classes.

The latest Level Up pod just dropped. We've been getting great feedback, recommend you'll give it a try 😊

Fragment from Bullish IPO prospectus below 👇🏼 Bullish, Gemini doing IPOs this year. Kraken reportedly raising a $500M pre-IPO round. Coinbase doing a $2B convertible bond (UOP includes investments & acquisitions). I can see an exchange-fueled crypto M&A boom coming 👀