Good Morning,

Here's a quick preview of today’s content: Coinbase has historic 2024 year, CFTC Commissioner talks future of prediction markets, Mastercard focused on tokenizing transactions last year, South Korea may lift a 7-year crypto ban, and so much more.

Finally Friday. Let’s dive in.

Market Snapshot

As of 2/13/2025. Data per CoinMarketCap.

  • Coinbase stock jumps +8.5% close to $300 per share following earnings report

    • Q4 ‘24

      • Revenue: $2.27B vs $1.84B exp.

      • Earnings Per Share: $4.68 vs $2.11 exp.

    • FY ‘24

      • Revenue: $6.6B (+138% YoY)

      • Net Income: $2.6B (+300% YoY)

  • Crypto market volatility continues in 2025 with tokens jumping daily

    • BTC heads into the weekend around $97k with ETH near $2.7k

    • Broccoli, a memecoin based on CZ’s pet, saw nearly $1B in trading volume Thursday

Headline Roundup
The major headlines driving crypto markets

  • Coinbase FY 2024 earnings release, doubling revenue to $6.6B (PY)

  • Hashflare’s co-founders plead guilty to a $577M crypto mining ponzi scheme (CD) 

  • Tether may have to sell some of its reserves to comply with new proposed US stablecoin regulations (CD) 

  • Not suprisingly, Bitboy crashed out again on stream – watch here

  • Vitalik Buterin tweets ‘Make Communism Great Again’ (TD) 

  • Japan’s Metaplanet raises $26M via zero-interest bonds to acquire more Bitcoin (TD) 

  • CFTC Commissioner Summer Mersinger says election prediction markets are ‘here to stay’ (TD) 

  • Binance’s $1.5B fine accounted for almost all of the DOJ’s $1.51B record-setting year in 2024 (DC) 

  • Robinhood founder Vlad Tenev explains Robinhood’s use of stablecoins for 24/7 settlements, including weekends (X)

  • Robinhood stock is up 440% over the last year, thanks in part to a jump in crypto trading (MBI)

  • Gamestop stock surges 7% on report that the video game retailer may invest in Bitcoin (DC) 

  • Binance founder CZ reveals the name of his dog, Broccoli, sparking a memecoin frenzy (TD) 

  • Broccoli memecoin creator made $6.5M from ~$800 investment (MI)

  • The Ethereum Foundation injects $120M of ether in various lending protocols (TB) 

  • Bitcoin miner Hive Digital reports $29.2M in Q3 revenue (CT) 

  • Mastercard tokenized 30% of its transactions in 2024 (CT) 

  • A trading card collector finds a $100K Bitcoin redemption card in a $50 pack of cards (DC) 

  • US Customs and Border Protection expands seizures of Bitcoin mining machines to MicroBT and Canaan units (TB) 

  • MoonPay eliminates transaction fees for crypto purchases using MoonPay Balance (TD) 

  • Social media platform and L2 Lens Chain will adopt stablecoin native GHO (TD) 

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Launches

  • OpenSea confirms the launch of its SEA token and the OS2 beta of its token marketplace (BW) 

  • Story Protocol launches its IP-focused blockchain and associated token (CD) 

Venture Capital

  • Peter Thiel-backed stablecoin startup Plasma raises a $20M seed round led by Framework Ventures (CD) 

  • StakeStone to expand liquidity staking with $10M backing from BingX Labs (CN)

  • Robotics and crowdsourced data startup Frodobots raises $6M in a seed round led by Protocol VC (BW) 

  • DeFi.app raises $4M in a seed extension round at a $100M token valuation (TB)

  • Teneo Protocol announces $3M seed financing co-led by RockawayX and Borderless for its DePIN protocol (CC) 

  • Fireverse music platform completes $2.5M Series A led by Nobody alongside OKX Ventures (CC)

  • Gam3Girl strategically backs Yield Guild Games and plans to purchase tokens directly from the market (PN)

Regulation

  • South Korea plans to lift a 7-year ban preventing institutions from trading crypto (CD)

  • U.S. SEC and CFTC discuss collaboration on regulation moves (CS)

Cybersecurity

  • Phantom wallet server outage turns to alleged security breach (BN)

  • This week’s crypto hack roundup (BiS)

Coinfessions

Extra Reads

Chart of the Day

Coinbase revenue reaches $6.6B in 2024, with $2.6B in net income and $2.3B from subscription services 🚀

Meme Dump

Pls send us crypto memes to be featured in the newsletter 🤝

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