Research
Latest insights and deep dives from 51 Insights
Bermuda's $780B bet on Circle
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Bermuda's $780B bet on Circle
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BlackRock just plugged into DeFi
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BlackRock just plugged into DeFi
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Citi just picked Solana over Ethereum
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Citi just picked Solana over Ethereum
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Coinbase took Epstein's $3M in 2014
3.5 million pages of DOJ documents confirm what no compliance officer flagged in 2014: a convicted sex offender was funding Bitcoin’s development pipeline.
Coinbase took Epstein's $3M in 2014
3.5 million pages of DOJ documents confirm what no compliance officer flagged in 2014: a convicted sex offender was funding Bitcoin’s development pipeline.
165: The dip is being bought
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165: The dip is being bought
Listen now | Hey, it’s Marc & the 51 team.
Wall Street's new darling
On Monday, Citadel Securities, the DTCC, the New York Stock Exchange, Google Cloud, ARK Invest, and Tether backed a single Layer 1 called Zero.
Wall Street's new darling
On Monday, Citadel Securities, the DTCC, the New York Stock Exchange, Google Cloud, ARK Invest, and Tether backed a single Layer 1 called Zero.
Ethereum, AI, and the end of trust: Joseph Lubin, co-founder of Ethereum & CEO of Consensys
Hi, it’s Marc.
Ethereum, AI, and the end of trust: Joseph Lubin, co-founder of Ethereum & CEO of Consensys
Hi, it’s Marc.
Tether just put on a suit
For a decade, Tether (USD₮) was the “offshore casino chip,” massive, liquid, but operating in the regulatory shadows. Wall Street ignored it; regulators hunted it. But on January 27, 2026, Tether launched USA₮, a federally chartered stablecoin backed 1:1 by short-term Treasuries, held at Anchorage Digital Bank, and custody by Cantor Fitzgerald. The Fed didn’t lose control. It delegated it. Now $186.2B in private-sector dollars can settle 24/7 across blockchains without touching the Federal Reserve’s ledger. The collateral hierarchy just got disrupted by the very person who would have fought it hardest: a regulator.
Tether just put on a suit
For a decade, Tether (USD₮) was the “offshore casino chip,” massive, liquid, but operating in the regulatory shadows. Wall Street ignored it; regulators hunted it. But on January 27, 2026, Tether launched USA₮, a federally chartered stablecoin backed 1:1 by short-term Treasuries, held at Anchorage Digital Bank, and custody by Cantor Fitzgerald. The Fed didn’t lose control. It delegated it. Now $186.2B in private-sector dollars can settle 24/7 across blockchains without touching the Federal Reserve’s ledger. The collateral hierarchy just got disrupted by the very person who would have fought it hardest: a regulator.
The U.S. crypto battlefield
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The U.S. crypto battlefield
Hey, it’s Marc & 51 team,
Why crypto broke
Three pipes burst at the same time: the U.S. Treasury sucked $200B out of bank reserves, Japan ended 30 years of free-money leverage, and AI's hype cycle suddenly became a risk event.
Why crypto broke
Three pipes burst at the same time: the U.S. Treasury sucked $200B out of bank reserves, Japan ended 30 years of free-money leverage, and AI's hype cycle suddenly became a risk event.
164: Capital is repricing
What a week, folks – and only in crypto. We have a packed newsletter for you today to untangle everything that happened. In case you missed it: Bitcoin crashed 30% in 7 days below $60K (is not already back at $70K) amid a brutal market-wide crash that wiped over $1T in value and lead $5B+ in liquidations.
164: Capital is repricing
What a week, folks – and only in crypto. We have a packed newsletter for you today to untangle everything that happened. In case you missed it: Bitcoin crashed 30% in 7 days below $60K (is not already back at $70K) amid a brutal market-wide crash that wiped over $1T in value and lead $5B+ in liquidations.
Hong Kong built the rails. Will the trains arrive?
Hey, it’s Marc & 51 team,
Hong Kong built the rails. Will the trains arrive?
Hey, it’s Marc & 51 team,
What would make this worth 10x more to you?
Marc here.
What would make this worth 10x more to you?
Marc here.
Buy Bitcoin. Then What?
Hey, it’s Marc & 51 team,
Buy Bitcoin. Then What?
Hey, it’s Marc & 51 team,
Where regulation meets reality
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Where regulation meets reality
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163: The Canton moment
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163: The Canton moment
Listen now | Hey, it’s Marc & the 51 team.
Crypto's $2.1B Custody IPO
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Crypto's $2.1B Custody IPO
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SWIFT’s vampire attack on crypto
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SWIFT’s vampire attack on crypto
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What Davos really said about crypto
Dear PRO reader,
What Davos really said about crypto
Dear PRO reader,
162: Davos just confirmed it
Hey, it’s Marc.
162: Davos just confirmed it
Hey, it’s Marc.