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Morning Minute is a each day e-newsletter written by Tyler Warner. The evaluation and opinions expressed are his personal and don’t essentially replicate these of Decrypt

GM!

In the present day’s high information:

• Crypto majors fall alongside shares as chips selloff continues; BTC at $63.2k
• Citadel Securities invests $400M in Crypto dot Com at $20B valuation
• Polygon Labs publicizes layoffs because it pivots to blockchain funds
• Visa launches stablecoin platform backing Open USD
• Robinhood Chain rotations proceed as INDEX surges, different leaders unload

🏦 Citadel Securities Invests $400M in Crypto.com at a $20 Billion Valuation

Citadel Securities made a $400 million strategic funding in Crypto.com, valuing the Singapore-based platform at $20 billion. It’s the change’s first institutional funding spherical because it was based a decade in the past, and Crypto.com says the capital will fund its enlargement into tokenized securities, derivatives, prediction markets, and different real-world belongings.

Citadel Securities, the Ken Griffin-founded agency that handles an enormous share of all U.S. fairness buying and selling, spent years on the sidelines of crypto and solely cautiously entered market-making within the house. It comes simply eight days after Citadel dropped a long-running crypto lawsuit, so the agency is clearly finished being a reluctant participant. CEO Kris Marszalek framed the chance bluntly, saying its measurement is “staggering, as crypto more and more turns into the rails for finance.”

The convergence of Wall Avenue and crypto has change into abundantly clear, and at the moment alone proved it:

• Alpaca raised $135 million for tokenized-stock infrastructure
• Visa launched a stablecoin platform backing Open USD
• Keyrock acquired BlockFills, and
• The DTCC put tokenized shares and Treasurys into reside manufacturing.

The identical establishments that spent a decade dismissing crypto at the moment are paying as much as personal the infrastructure, they usually’re all pointed on the similar goal, tokenization and 24/7 markets. They’re not shopping for Bitcoin right here. They’re shopping for the rails.

🌎 Macro Crypto and Markets

• Crypto majors are pink, down 2-3%; BTC -1% at $63.2k; ETH -2.5% at $1,835; SOL -2% at $75; HYPE -8% at $60
• PI (+8%), CRO (+6%) and XDC (+3%) led high movers
• Oil +2% at $81; Gold -1% at $3,997
• Inventory futures are deep pink because the chip selloff continues; DOW -0.6%, Nasdaq -1.7%
• Visa launched a stablecoin platform backing Open USD, piling extra aggressive strain on Circle because the funds giants line up behind the 140-firm consortium
• Alpaca raised $135 million to construct tokenized-stock infrastructure
• Keyrock acquired BlockFills’ buying and selling belongings, increasing the market maker’s institutional crypto enterprise via consolidation
• An open-standards physique for AI funds launched, aiming to construct a monetary system for AI bots to transact autonomously, the most recent push into agentic commerce
• Galaxy launched institutional stablecoin-yield vaults, concentrating on DeFi returns for establishments chasing yield on idle stablecoins
• Polygon Labs introduced layoffs because it pivots from a blockchain basis to a blockchain funds firm, with CEO Marc Boiron saying it is within the ultimate stage of buying Coinme and concentrating on profitability in 2027

Company Treasuries & ETFs

Meme Coin Tracker

• Meme leaders had been largely pink; DOGE -2%, SHIB -1%, PEPE even, PENGU -1%, TRUMP -1%, BONK -8%
• Robinhood chain tokens had been largely pink and down one other 30-50% throughout the board; INDEX (+85%) and RWA (+400%) had been notable movers
• Solana leaders included Jimothy (+30x) and HBULL (+45%); ANSEM +10% to $190M

💰 Token, Airdrop & Protocol Tracker

🚚 What is going on in NFTs?

• NFT leaders had been barely pink; Punks -1% at 32 ETH, BAYC -1% at 8.87 ETH, Pudgy -4% at 4.26 ETH; Hypurr’s even at 188 HYPE
• Azuki (+11%) and The Pup Cup (+170%) led high movers