TL;DR

Coinbase acquires Deribit for $2.9B; OCC opens crypto to U.S. banks; Stripe launches global stablecoin accounts.

Highlights

• Coinbase to acquire Deribit, the largest Bitcoin and Ether options platform, for $2.9B in cash and stock 1.
• U.S. OCC allows national banks to buy, sell, custody, and outsource services for Bitcoin and other digital assets 5.
• BlackRock -backed Securitize raises funding from Jump Crypto as SEC signals support for $12B RWA tokenization market 2.
• Stripe launches AI-powered payments model and stablecoin accounts in 101 countries (excluding US/UK/Canada); $219B April volume 4.
• Meta in talks to deploy stablecoins for payouts, hires crypto-focused VP of product, marking renewed digital asset push 7.
• DeFi Development Corp increases Solana holdings to $58.5M; SOL Strategies explores SEC-registered shares on Solana blockchain 11.
• OpenAI appoints Instacart CEO Fidji Simo as CEO of Applications after $40B SoftBank-led round; Altman shifts to research and safety 3.
• U.S. lawmakers advance TEST AI Act and Nvidia GPU tracking bill; Senate AI hearings feature OpenAI, Microsoft, AMD 12.
• Google funds three 600MW advanced nuclear sites for data center/AI power; Ontario approves C$20.9B SMR project at Darlington 6.
• AppLovin Q1 revenue up 40% to $1.48B; sells gaming unit to Tripledot, proposes TikTok Global merger leveraging Axon AI 9.
• Apple appeals ruling requiring third-party payments in App Store, seeking to delay enforcement amid potential billion-dollar impact 13.
• Whoop launches FDA-cleared medical-grade tracker, new membership tiers, and advanced health features 8.

Commentary

Crypto infrastructure and regulatory normalization are in focus, with Coinbase ’s $2.9B acquisition of Deribit reinforcing consolidation in institutional crypto trading 1. The OCC’s new rules enabling U.S. banks to directly handle and outsource crypto services further lower barriers for traditional financial institutions to enter digital assets, likely accelerating institutional adoption and increasing demand for compliance-focused startups 5.

Tokenization and blockchain-based capital markets are seeing momentum. Securitize’s new funding, backed by BlackRock and Jump Crypto, comes as the SEC signals support for RWA tokenization and regulatory sandboxes 2. Meta’s renewed stablecoin push and Stripe’s global stablecoin accounts (excluding major Western markets) highlight ongoing workarounds to regulatory uncertainty in the U.S. 47. Early-stage companies in tokenization, payments, and compliance tech are likely to benefit from this environment.

AI and infrastructure remain active themes. OpenAI’s leadership update and $40B in new capital signal continued expansion into applications 3, while U.S. lawmakers push for AI testing standards and hardware export controls 12. Google ’s investment in advanced nuclear power for data centers reflects rising energy requirements for AI workloads, keeping climate-tech and energy infrastructure in play for VC attention 6.

On the consumer side, Whoop’s FDA-cleared tracker and new membership model illustrate the growing intersection of regulated health tech and consumer wearables 8. Apple ’s ongoing legal battle over App Store payments continues to create opportunities for alternative payment and app distribution startups 13. AppLovin’s strong quarter and TikTok merger proposal underscore ongoing shifts in digital advertising and gaming 9.

Deal flow remains robust across crypto infrastructure, tokenization, AI, and energy solutions. Regulatory clarity and institutional adoption are likely to support higher valuations and more exit opportunities for startups positioned in these sectors.