500s – Earlybirds Invest

Sixteen years after the launch of Bitcoin, stablecoins have emerged as one of the most compelling applications of blockchain technology. Banks are reportedly “panicking” over stablecoins encroaching on their territory, while Fortune 500 companies are beginning to grasp their transformative potential.

Shifting from blockchain to AI, Meta Platforms is quietly assembling a “superintelligence” unit, led by Scale AI founder Alexandr Wang. This move follows reports that Mark Zuckerberg’s company acquired Scale in a nearly $15 billion all-cash deal.

In this week’s Crypto Biz, we explore the evolving landscape of stablecoins and the latest high-stakes moves in the crypto and AI sectors.

Fortune 500 companies are paying attention to stablecoins: Coinbase

Interest in stablecoins among Fortune 500 companies has grown sharply over the past year, highlighting the technology’s increasing real-world utility, according to a new survey by Coinbase.

The crypto exchange polled 100 executives from Fortune 500 companies and found that nearly 29% are either using or exploring the use of stablecoins, up from just 8% in 2024. This represents a more than threefold increase in a year.

Executives cited faster financial transactions and lower payment fees as the primary drivers of interest. About 7% of respondents said their companies are already using stablecoins.

Not every company is embracing stablecoins. As Cointelegraph reported, the US banking lobby is particularly concerned about yield-bearing stablecoins disrupting their business.

Zuckerberg scrambles to keep Meta from falling behind in AI race

Meta Platforms’ struggles in AI prompted CEO Mark Zuckerberg to make a bold move by acquiring a 49% stake in Scale AI, a data-labeling company that supports several AI applications, according to reports from The Information and Bloomberg.

The $14.8 billion deal also brings Scale AI CEO Alexandr Wang into Meta. Wang is set to join Meta’s “superintelligence” team, a group of about 50 people focused on pursuing artificial general intelligence.

As Bloomberg reported, Zuckerberg has grown frustrated with Meta’s slow progress in AI, despite plans to nearly double capital expenditures this year, much of which is earmarked for AI infrastructure development.

Nasdaq fintech acquires crypto native protocol Mixie

Nasdaq-listed fintech firm Netcapital has acquired Web3 gaming platform Mixie for an undisclosed sum, potentially marking the first time a publicly traded company has acquired a crypto-native protocol.

The deal was executed through Zelgor, a Netcapital portfolio company, and is expected to enhance Netcapital’s tokenization infrastructure.

Netcapital operates a fully digital capital markets platform that connects private companies seeking to raise capital with investors. A company spokesperson said the acquisition enhances “synergies between Mixie’s tokenization capabilities and Netcapital’s browser-based security offering.”

Netcapital is a nano-cap stock with a total market capitalization of less than $10 million.

Guggenheim partners with Ripple to expand digital debt offering

Less than a year after launching its commercial paper offering on Ethereum, US investment giant Guggenheim is expanding the product through a new partnership with Ripple.

Through this collaboration, Guggenheim Treasury Services — a subsidiary of Guggenheim — will offer its Treasury-backed fixed-income product on the XRP Ledger. Fully backed by US Treasurys, the product could eventually be available for purchase using RLUSD, Ripple’s US dollar-pegged stablecoin.

Crypto Biz is your weekly pulse on the business behind blockchain and crypto, delivered directly to your inbox every Thursday.

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Coinbase Joins The Big League As S&P 500’s Only Crypto Company https://earlybirdsinvest.com/coinbase-joins-the-big-league-as-sp-500s-only-crypto-company/ https://earlybirdsinvest.com/coinbase-joins-the-big-league-as-sp-500s-only-crypto-company/#respond Tue, 13 May 2025 23:15:10 +0000 https://earlybirdsinvest.com/coinbase-joins-the-big-league-as-sp-500s-only-crypto-company/

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A major US stock index is about to welcome its first crypto-focused exchange next week. Coinbase will officially join the S&P 500 ahead of trading on May 19. The move comes more than three years after its direct listing on Nasdaq, and it cements the firm’s status among large-cap names.

Confirmation Of S&P 500 Inclusion

According to S&P Dow Jones Indices, Coinbase is set to replace Discover Financial Services in the benchmark before markets open on Monday. This follows the company meeting strict rules—positive earnings in the most recent quarter and across the prior four quarters. It’s no small feat for a business whose fortunes have swung wildly with crypto prices.

Earnings And Revenue Trends

Based on reports, Coinbase posted revenue of $7.4 billion in 2021 but then swung to a loss of $1.1 billion in Q2 2022. In Q1 2025, revenue reached $2 billion, up 24% from the same period last year, although it fell about 10% from Q4 2024. Net income, however, plunged 94% to $66 m after the firm marked its crypto holdings to market. Those numbers underline how tied Coinbase remains to Bitcoin, Ether and other tokens.

Market Reaction And Stock Performance

Investors have so far given the company a vote of confidence. Shares jumped more than 10% in extended trading on Monday, as index funds tracking the S&P 500 gear up to add Coinbase to their portfolios. Over the past two years, the stock has climbed roughly 250%, even though it’s down nearly 17% so far this year while Bitcoin has climbed close to 10%.

Strategic Expansion And Industry Impact

Based on reports, Coinbase plans to acquire Deribit for $2.9 billion, in one of the largest deals in crypto history. The purchase would bring options trading into its suite of products and boost revenue potential. At the same time, it adds integration risks and debt service that investors will be watching closely.

Outlook For Crypto And Regulation

According to analysts, the inclusion signals growing acceptance of digital assets by traditional finance. Under the current administration, regulators have taken a more permissive stance toward crypto firms. Rival exchanges such as Gemini and Kraken are already eyeing their own public listings. However, volatility in token prices could still send Coinbase’s earnings swinging, which in turn could affect its standing in the S&P 500.

This milestone marks a turning point for Coinbase and the broader crypto sector. As indexing funds flow into the stock, the exchange will gain more visibility among mainstream investors. Yet the business faces a tightrope walk: balancing growth through big deals like Deribit while managing risks tied to crypto’s famous price swings.

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