Scenius Sync (Issue # 193)
Meta eyes stablecoin comeback this year, Taylor Lindman joins SEC as chief counsel for CTF, Coinbase partners with Yahoo Finance, Based raises $11.5M Series A, & Tether invests $200 million in Whop
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Essential News 🗞
Mark Zuckerberg’s Meta is planning stablecoin comeback in the second half of this year
Meta, the U.S. tech giant helmed by Facebook creator Mark Zuckerberg, is aiming to enter the stablecoin space later this year, pending successful integration with a third-party firm to facilitate payments using the dollar-pegged token technology, according to three people familiar with the plans.
The tech giant, which owns Facebook, WhatsApp and Instagram and has more than 3 billion users, wants to begin its stablecoin integration early in the second half of this year, said one of the people, who spoke on condition of anonymity because the plans are not public. Meta is planning to integrate a vendor to help administer stablecoin-backed payments and implement a new wallet, the person said.
Chainlink’s Taylor Lindman joins SEC as chief counsel for crypto task force
Taylor Lindman, former deputy general counsel at Chainlink Labs, joined the U.S. Securities and Exchange Commission on Monday as the agency’s chief counsel for the agency’s crypto task force. Lindman succeeds Michael Selig, who previously held the role before becoming chair of the Commodity Futures Trading Commission. During more than five years at Chainlink, Lindman served in several senior legal positions, gaining experience in oracle networks and smart contract data infrastructure within institutional finance, according to a company spokesperson.
The company is working with JPMorgan Chase, Goldman Sachs, and Jefferies Financial Group on a potential New York listing that could take place as soon as this year, Bloomberg reported, citing people familiar with the matter. RedotPay may seek a valuation of more than $4 billion, according to the outlet, though deliberations are ongoing, and details could change.
The firm raised $194 million in 2025, including a December Series B round that pushed it to unicorn status. Backers include Accel, Blockchain Capital, Goodwater Capital, HSG, Pantera Capital, and Vertex Ventures. As of November, the company had more than 6 million registered users.
Stripe in Early Talks on Potential PayPal Deal: Bloomberg
Stripe is reportedly exploring an acquisition of PayPal, a move that could consolidate two of the most active traditional payments firms in crypto and stablecoin infrastructure under one roof. Early discussions between the two have reportedly begun, though the proposal remains exploratory and no formal offer has been made, according to a Bloomberg report on Tuesday.
It comes as Stripe has made a $159 billion employee tender offer to buy back employee shares, which followed its Tuesday posting of $1.9 trillion in annual payment volume and the approval of a U.S. national bank trust charter for Bridge, its stablecoin subsidiary.
Relatedly, Venmo, PayPal consumer reach could bolster Stripe in potential acquisition deal: Mizuho
Netherlands Bans Polymarket Over ‘Illegal Gambling Services
The Netherlands Gambling Authority (Ksa) has imposed a penalty order on Adventure One QSS Inc., the operator of prediction market platform Polymarket, for offering what it called illegal gambling services in the country without a license. It marks the latest legal setback for the company as regulators worldwide intensify scrutiny of the sector. In a statement published Tuesday, the Ksa said it had ordered Polymarket to immediately cease offering services to Dutch users. If the company fails to comply, it will be fined €420,000 ($462,000) per week, up to a maximum of €840,000 ($924,000).
Innovation & Adoption 💡📈
Coinbase partners with Yahoo Finance as it opens stock trading to all US users
As part of the partnership, Yahoo Finance will add a “Trade [asset] on Coinbase” button to stock and crypto asset pages, Mark Troianovski, head of consumer and platform business development at Coinbase, told The Block. Troianovski declined to comment on the financial terms of the deal when asked whether Yahoo would receive a fee or revenue share from trades executed through the site, which reports more than 150 million global monthly visitors. Coinbase first began offering stock trading in a limited rollout with hundreds of tradable stocks following its “System Update” product showcase in December. With the full launch, thousands of assets are now available to all U.S. users, Troianovski said.
Polymarket buys fresh prediction market API startup Dome, marking second official acquisition
Dome, part of startup accelerator Y Combinator’s Fall 2025 cohort, offers a unified API for prediction markets. In other words, it allows developers to build apps, bots, dashboards, or trading tools that work across platforms like Polymarket, Kalshi, and other platforms. The startup raised $500,000 from YC and a $4.7 million seed, according to the X bio of co-founder Kunal Roy, who was also a founding engineer at Alchemy. Kurush Dubash, the other listed co-founder, is also a founding engineer at Alchemy, according to his YC bio.
Hyperliquid web3 ‘SuperApp’ Based raises $11.5 million Series A led by Pantera
The round was led by Pantera Capital, with participation from Coinbase Ventures, Wintermute Ventures and Karatage, Based said Monday. Fundraising began in the fourth quarter of 2025 and closed last week, Based co-founder and CEO Edison Lim told The Block. The round was structured as an equity investment with token warrants, Lim said, declining to disclose the firm’s valuation. Pantera received an observer board seat as part of the deal, Lim added. The Series A follows a 2022 investment announcement, when the team — then operating under the brand Suberra and focused on crypto payments — said it raised $2.7 million across two funding rounds.
Tether invests $200 million in digital marketplace Whop to expand stablecoin payments
Whop runs a digital marketplace where creators sell access to software tools, trading groups, online communities and learning courses. The platform said it has 18.4 million users and that participants earn about $3 billion each year. It’s growing fast, with gross transaction volume increasing about 25% month-over-month, it added. As part of the deal, Whop will integrate Tether’s crypto wallet tool, allowing users to hold and transact in stablecoins such as Tether’s USDT and U.S.-focused USAT directly on the platform. The integration also gives creators the option to accept digital dollar payments and settle globally without relying on banks or card networks, the press release said.
Revolut among firms picked by UK FCA to test stablecoin sandbox
Out of 20 applicants, the Financial Conduct Authority selected Revolut, Monee Financial Technologies, ReStabilise and VVTX to take part in the trials, according to a statement. “The Regulatory Sandbox programme allows firms to trial stablecoin products in real-world conditions with appropriate safeguards,” the regulator said. “It will help the FCA assess its proposed policy in a live environment and ensure future rules are clear, effective and support responsible innovation.” The move comes after the Bank of England said last month it plans to move ahead with stablecoin development. “Stablecoins have the potential to modernise retail and wholesale payments, enabling faster, cheaper and more efficient transactions,” Executive Director Sasha Mills said.