Research
Latest insights and deep dives from 51 Insights
168: NYSE, OKX, Kraken
Hey, it’s Marc & the 51 team.
168: NYSE, OKX, Kraken
Hey, it’s Marc & the 51 team.
He ran the NYSE, now he's putting it on a blockchain, with Michael Blaugrund, VP at ICE
Hi, it’s Marc.
He ran the NYSE, now he's putting it on a blockchain, with Michael Blaugrund, VP at ICE
Hi, it’s Marc.
Fidelity goes on-chain
Fidelity doesn't do crypto.
Fidelity goes on-chain
Fidelity doesn't do crypto.
USDC prints $2.7B. Coinbase keeps 60%
It's one thing to build a $75B stablecoin network.
USDC prints $2.7B. Coinbase keeps 60%
It's one thing to build a $75B stablecoin network.
Meta's stablecoin comeback with Stripe
In 2021, U.S.
Meta's stablecoin comeback with Stripe
In 2021, U.S.
The liquidity cycle just broke bitcoin, with Michael Howell, Founder at CrossBorder Capital
Hi, it’s Marc.
The liquidity cycle just broke bitcoin, with Michael Howell, Founder at CrossBorder Capital
Hi, it’s Marc.
167: Stripe wants to eat PayPal alive
Hey, it’s Marc & the 51 team.
167: Stripe wants to eat PayPal alive
Hey, it’s Marc & the 51 team.
Apollo bought 9% of a DeFi protocol
Hey, it’s Marc!
Apollo bought 9% of a DeFi protocol
Hey, it’s Marc!
12 signals the ambiguity is over
Today we’re publishing our 2026 Outlook: The End of Crypto Ambiguity
12 signals the ambiguity is over
Today we’re publishing our 2026 Outlook: The End of Crypto Ambiguity
Stripe doesn’t need bank
The OCC's conditional approval of Bridge National Trust marks a turning point for Stripe and the broader stablecoin industry.
Stripe doesn’t need bank
The OCC's conditional approval of Bridge National Trust marks a turning point for Stripe and the broader stablecoin industry.
From 100% to 2%
You know what’s more powerful than a 1,000-page regulation? A two-page FAQ. On February 19, the SEC’s Division of Trading and Markets quietly dropped guidance that slashes the capital charge on stablecoins from 100% to 2% for broker-dealers. That’s the same haircut as money market funds. This makes stablecoins near-cash working capital and it might be the single most important regulatory shift for Wall Street in 2026.
From 100% to 2%
You know what’s more powerful than a 1,000-page regulation? A two-page FAQ. On February 19, the SEC’s Division of Trading and Markets quietly dropped guidance that slashes the capital charge on stablecoins from 100% to 2% for broker-dealers. That’s the same haircut as money market funds. This makes stablecoins near-cash working capital and it might be the single most important regulatory shift for Wall Street in 2026.
166: Apollo bought 9% of a DeFi protocol
Listen now | Hey, it’s Marc & the 51 team.
166: Apollo bought 9% of a DeFi protocol
Listen now | Hey, it’s Marc & the 51 team.
The first nation to run on USDC
Hey, it’s Marc & the 51 team,
The first nation to run on USDC
Hey, it’s Marc & the 51 team,
BlackRock just plugged into DeFi
Hey, it’s Marc & the 51 team,
BlackRock just plugged into DeFi
Hey, it’s Marc & the 51 team,
Citi just picked Solana over Ethereum
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Citi just picked Solana over Ethereum
Hey, it’s Marc
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
Listen now | Hey, it’s Marc & the 51 team.
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.