This week in crypto, we are witnessing an unprecedented collision between traditional finance and decentralized ecosystems as major players aggressively build out the infrastructure for the next market cycle.

In this episode:

• Coinbase & Circle Supercharge Hyperliquid: Coinbase becomes the official USDC treasury deployer for Hyperliquid as the native USDH stablecoin sunsets, while Circle stakes 500,000 HYPE tokens to expand its role.

• Charles Schwab Brings Crypto to Normies: The traditional finance giant officially launches spot Bitcoin and Ethereum trading for its 40 million retail clients with a 75-basis-point fee.

• Wall Street Buys the $HYPE: 21Shares launches the first US-listed Hyperliquid ETFs ($THYP and $TXXH), bringing spot, staking, and leveraged exposure to mainstream brokerage accounts. ...