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Across recent work, that has included:
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For teams expanding into new markets or refining how their product is understood at scale, Arcadia functions as the execution system behind that process.
🌟 Member Spotlight 🌟
Meet Mike McCoy 👋
His path has been deeply rooted in crypto, finance and building things people want.
→ Ecosystem Development at ConsenSys in 2016
→ Led Global Blockchain at Accenture
→ Led BD, Strategy & Investments at crypto-native companies like Blockdaemon, Avalanche, Protocol Labs, Sei & Aleo
Now, Mike is stepping into an exciting new chapter as Head of Digital Assets, GTM & Sales at Fiserv.
It is a major milestone in a career spent building across crypto, ecosystem growth, and go-to-market.
And the timing could not be more relevant.
Fiserv’s Digital Asset Platform brings together tokenized deposits, the FIUSD stablecoin, and a global liquidity network to help modernize how institutions and merchants move money.
For banks and credit unions, it is about modern deposit infrastructure built for 24/7 money movement.
For merchants, it is about faster settlement, less friction, and global payments that feel local.
This is what our network is all about.
Keep building.
Show Mike some love 👇
🗽️️️️ NY: The Room Recap🗽️️️️
Two conference weeks. One city. No sleep.
NY Tech Week and ETHConf brought the builders, operators, investors, institutions, and frontier teams into Manhattan.
Naturally, Introduction.com was there to convene the conversations that only happen behind closed doors.
For NY Tech Week, we partnered with TechDollar for a private VIP soirée at The Ritz-Carlton.
TechDollar is building the credit venue where capital meets the frontier technology economy.
Together, we brought leaders from S&P Global, Citi, Cantor Fitzgerald, AWS, NVIDIA, Anthropic, Palantir, Stripe, Brex, Deel, Paxos, and Grayscale into one room.
Decision-makers only. High-signal conversations. Access you do not stumble into.
Then we ran it back for ETHConf with XDC Foundation.
Because at Introduction.com, we only build up.
XDC penthouse. Hudson views. Canapés. Cocktails.
The room included leadership from Amazon, Stripe, Bank of America, Wells Fargo, S&P Global, Fidelity, Bitwise, and other organizations at the forefront of technology, capital markets, and institutional adoption.
Back to back conference weeks in the city that never sleeps.
The Knicks know something about momentum.
So do we.
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Another week. Another member perk.
This time: Tokenbooks, founded by Introduction.com member Pavel Kudinov.
Tokenbooks helps Web3 finance teams reconcile fiat and crypto in one ledger, replacing spreadsheets, wallet exports, and month-end chaos with cleaner workflows.
Introduction.com members receive:
→ 20% off Tokenbooks
→ Direct access to the founding team
→ A cleaner way to close across fiat and crypto
Book a 30-minute demo to request access:
Introduction.com & The Community
Canada’s largest Web3 and AI event 🇨🇦
Introduction.com is proud to be a Community Partner of Blockchain Futurist Conference, taking place July 21–22 at Rebel & Cabana in Toronto.
As always, our core members get first access to complimentary tickets and VIP perks.
Now, we’re opening this one up to the greater Introduction.com community.
As a valued member of the Introduction network, readers can access a complimentary ticket to Blockchain Futurist Conference.
Limited quantities available.
Use code INTRODUCTION or register here:
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Membership has its privileges.
Access is earned.
Top Raises
Member Activity
Strategic
Morpho closed $175M in strategic funding at a $2B valuation.
The round was co-led by Paradigm, a16z crypto, and Ribbit Capital, with participation from Apollo Funds, VanEck, Circle Ventures, Ledger, Cathay Innovation, Variant Fund, Wintermute Ventures, HashKey Capital, SBI Group, and Bpifrance.
Proceeds will scale Morpho's open credit network, which already runs more than $11B in deposits across infrastructure used by Bitwise, Galaxy, Anchorage Digital, Coinbase, Kraken, and Binance, with Apollo's inclusion signaling large TradFi alternative-credit firms taking direct equity exposure to open-source lending rails for the first time.
A16z cannot be stopped. Huge win for Pyrs Carvolth and the a16z team!
Non-Member Activity
Strategic
SignalPlus secured $40M in strategic funding.
The round came from HashKey Group, extending a partnership that began with HashKey Capital leading the platform's 2022 Series A and continued through HashKey Group's participation in its 2025 Series B.
Proceeds will back continued product build-out and derivatives footprint expansion across the enterprise-grade crypto options platform, which stacks risk management, smart automated orders, real-time market data, and multi-exchange connectivity for retail and institutional traders.
Series A
EDGE Markets raised $29.2M in a Series A round.
CoinFund led, with Mantis VC (the Chainsmokers' fund), StepStone Group, Bullpen Capital, and Indicator Ventures also joining.
The capital will scale EDGE's regulated banking, payments, compliance, and settlement rails across products like EDGE Pro, EDGE Connect, and the FDIC-insured EDGE Boost debit account, as Kalshi, Polymarket, and the broader prediction market sector keep expanding.
WasabiCard closed a $10M Series A.
The round was backed by Avenir Group, Vernal Capital, Vision Plus Capital, and 01VC.
Proceeds will expand WasabiCard's compliant enterprise card and settlement stack, spanning virtual and physical crypto-powered payment cards, global payouts, cross-border remittances, and white-label card-issuing APIs that bridge stablecoins into traditional payment rails.
Acquisition
Helium Mobile was acquired by Noble Mobile in an undisclosed deal.
Noble is the affordability-focused telecommunications company led by former presidential candidate Andrew Yang.
Noble takes over consumer-facing mobile operations while Nova Labs sharpens its focus on scaling the underlying Helium DePIN network of nearly 139,000 hotspots, which already serves 2.6M+ daily users and is being used by major US carriers like AT&T and Telefonica to offload traffic at roughly $47K per day in network revenue.
Amberdata was acquired by Kaiko on June 2 in an undisclosed deal.
The transaction is Kaiko's fifth acquisition (and second in two weeks), billed as "the most significant consolidation in the institutional digital asset data industry."
The integration folds Amberdata's derivatives analytics, GVOL options platform, and AI-powered research tools into Kaiko's institutional data stack, creating a combined company serving 250+ institutional clients across crypto market data, indices, and on-chain infrastructure.
Mintscan was acquired by Cosmos Labs in an undisclosed deal announced June 4.
The deal also formed Cosmos Labs Korea, a Seoul-based subsidiary that will take stewardship of four of the Cosmos ecosystem's most critical infrastructure components: Skip:Go, IBC Eureka, Mintscan, and the Cosmos Hub.
The interchain blockchain explorer (originally built by Cosmostation, now Stamper) becomes part of a unified Cosmos infrastructure operator for the first time, with the new Seoul subsidiary anchoring ATOM's home market as Cosmos Labs pursues parallel enterprise and public ecosystem mandates.
Redefind was acquired by WTW in an undisclosed deal.
WTW is the global advisory, broking, and solutions firm, with co-founders Richard Daws and Connor Edward joining its Willis specialty risk advisory and broking business.
The Lloyd's-backed crypto insurance platform will launch a UK-first non-custodial recovery cost product covering forensic investigations, asset tracing, and legal recovery work, anchoring WTW's broader push into digital asset protection.
BlockFills is being acquired by Keyrock for $3.25M out of Chapter 11 bankruptcy, subject to court approval at a June 16 hearing.
Keyrock is the Brussels-based digital asset services firm last valued at $1.1B following its SC Ventures-led Series C in March.
The Chicago-based firm brings roughly 2,000 institutional clients (hedge funds, asset managers, market makers, and mining companies) along with its OTC execution, liquidity, derivatives, and crypto lending stack and $60B in 2025 trading volume, after a March bankruptcy filing tied to roughly $75M in lending losses.
Headlines
The biggest names in private tech are finally heading public, with SpaceX confidentially filing in April, OpenAI filing its own S-1 in late May, and Anthropic openly positioning its Series H as a final round before going public.
These names already carry private valuations that dwarf most public peers, with SpaceX reportedly targeting $1.75 trillion, OpenAI marketing a $852 billion to $1 trillion range, and Anthropic locked in at $965 billion post-money, all backed by enormous strategic checks from Microsoft ($13 billion into OpenAI, now worth roughly $228 billion), Amazon (up to $33 billion committed to Anthropic), and Google (up to $40 billion committed to Anthropic on top of its earlier stake). The cap tables read like a who's who of strategics and asset managers, which means retail has been locked out of arguably the most important growth story of the decade.
Analysts are flagging how stretched these numbers look on a revenue basis, with OpenAI implying roughly 34x its $25 billion annualized run rate and SpaceX pushing close to 100x its $18 billion in 2025 revenue at the high end of its IPO range. Anthropic looks comparatively cheap at roughly 20x its $47 billion run rate, but that figure has more than doubled in a few months and any meaningful slowdown would reset the math fast. The bull case rests on category dominance and optionality, while the bear case is that public markets have historically been a lot less patient with multiples this rich.
Retail expectations are running hot, especially as Fidelity, Schwab, Robinhood, SoFi, and E*Trade have all opened up direct allocations for the SpaceX IPO. The SEC's April approval to scrap the $25,000 pattern day trader minimum takes effect June 4, pulling in a fresh wave of active traders right as these listings hit the tape. The setup looks like the most retail-friendly IPO cycle in memory, but it also raises the uncomfortable question of whether public investors are finally getting access to the next category-defining companies or simply becoming exit liquidity for the insiders who got there first.
Regulation Roundup
United States 🇺🇸
JPMorgan, Bank of America, Citi, and Wells Fargo are building a shared tokenized deposit network targeted for mid-2027 launch, operated by The Clearing House (the payments company collectively owned by the banks).
The system will convert traditional bank deposits into on-chain tokens that can move around the clock with stablecoin-like speed and programmability, while keeping the underlying funds inside the regulated banking perimeter.
The move arrives as the CLARITY Act inches closer to a Senate floor vote that could let stablecoin issuers pay yield, with the banks effectively pre-empting the deposit flight risk by trying to capture the on-chain payments use case themselves before non-bank stablecoins lock it in.
The Treasury's Office of Foreign Asset Control added Nobitex, Wallex, Bitpin, and Ramzinex (plus several executives) to its Specially Designated Nationals list on June 2, citing ties to IRGC-linked transactions, ransomware payments, and sanctions evasion.
The designations follow Treasury Secretary Scott Bessent's announcement days earlier that the department had seized roughly $1B in Iranian crypto since the start of the war against Iran, with the announcement explicitly linking Nobitex to moving assets out of Iran after the US began bombing.
OFAC paired the action with a warning that the same sanctions risks attach to any digital asset, fiat, or in-kind "toll" payments tied to Iranian demands for Strait of Hormuz passage, formally extending the Trump administration's maximum-pressure campaign into the on-chain layer.
The House Ways and Means Committee is circulating seven draft crypto tax bills ahead of a June 9 hearing, each targeting a narrow piece of the digital assets tax stack rather than attempting another all-in-one rewrite.
The proposals would eliminate tax on small ("de minimis") transactions, stablecoin activity, and network fees; fix the double-taxation problem on mining and staking rewards (where assets are taxed at receipt and again at sale); apply wash-sale rules to crypto; and cut the appraisal requirement on crypto charity donations.
With the CLARITY Act sucking up most of the industry's Washington oxygen, tax reform has been the explicit "next in line" priority for crypto lobbyists, and this is the first time the House tax-writing committee has formally taken up the issue with bipartisan drafts.
House Oversight Committee Chair James Comer (R-KY) opened an investigation into Polymarket and Kalshi, demanding internal records from CEOs Shayne Coplan and Tarek Mansour over concerns that members of Congress, administration officials, and other federal employees are using classified information to make "huge profits" on event contracts.
Comer is pressing each platform on identity verification, geographic restrictions, and anomalous trade detection, and signaled he may pursue legislation barring members of Congress and government employees from participating in prediction markets at all.
The probe stacks on top of Senate Commerce Committee scrutiny of the sector over sports cheating, problem gambling, and youth-targeted advertising, putting prediction markets under simultaneous federal pressure as Bernstein projects 2026 volumes to hit $240B and 2030 volumes to push $1T.
International 🌏
Lee Jae-myung was sworn in as South Korea's president on June 4 after winning the June 3 snap election with 49.42% of the vote on a 79.4% turnout, the country's highest since 1997.
Lee campaigned on legalizing spot Bitcoin ETFs, launching a won-pegged stablecoin to prevent capital flight, and opening the $884B National Pension Fund to crypto exposure, with the Democratic Party already working to consolidate several Digital Asset Basic Act drafts into a single revised bill.
The win immediately changes the calculus on Korea's stuck stablecoin legislation (where the Bank of Korea has been demanding a ≥51% bank-led consortium model) and turns Seoul into one of the most aggressive pro-crypto regulatory capitals in Asia heading into the second half of 2026.
The cross-party Financial Services Regulation Committee of the UK House of Lords published its "Stablecoins: waiting for regulation" report on June 2, urging the Bank of England to scrap or scale back its proposed £20,000-per-coin individual holding limit and £10M business limit.
The committee also called for reconsidering the BoE's requirement that stablecoin issuers hold at least 40% of backing assets in unremunerated central bank deposits, warning the structure "could have a significant impact on the business viability of stablecoin issuers in the UK."
Deputy Governor Sarah Breeden has already admitted the original caps were "overly conservative" and that the BoE is "looking very hard" at alternatives, with the Lords report now giving the central bank political cover to ease the rules before they ossify into law.
The EU's MiCA grandfathering window closes July 1, after which any crypto-asset service provider operating without authorization must cease serving EU clients, with industry estimates suggesting 80%+ of pre-existing CASPs are not yet authorized.
In parallel, the European Commission's MiCA review consultation (open through August 31) is now actively probing whether to expand the framework into DeFi, lending, and staking, and whether to tighten reserve and multi-issuance rules for stablecoins after the first 18 months of enforcement.
The combination of a hard authorization cliff and an open scope-expansion consultation means the next four weeks will define both who gets to serve EU clients in H2 2026 and what MiCA 2.0 actually covers heading into 2027.
