Coinbase on Tuesday announced a sweeping suite of new products, including US stock and ETF trading, tokenized stocks, perpetual futures, and an SEC-registered AI advisor, positioning itself as an 'everything exchange' bridging crypto and traditional finance. The move allows users to trade equities alongside crypto, transfer portfolios from other brokerages, borrow against staked Solana, and use AI-powered trading agents. While not first to market, Coinbase aims to ride the growing tokenized real-world asset trend, with Standard Chartered forecasting a 40x market expansion by 2030. Separately, SpaceX acquired AI coding startup Cursor for $60 billion in stock, integrating it into xAI. Cursor, which reached $2 billion annual recurring revenue by February, had faced margin pressure from costly AI model rental fees. The acquisition gives it access to cheap compute via xAI's Colossus supercomputer and reduces reliance on rival Anthropic. In crypto markets, majors fell 2-4% ahead of the FOMC meeting, with Bitcoin at $64.8k and Ethereum at $1,763.

Key facts

• Coinbase launches stock trading, tokenized stocks, perpetuals, and AI advisor in one app.
• SpaceX buys AI coding firm Cursor for $60 billion, integrates it into xAI.
• Cursor had $2B ARR by Feb 2025 but faced margin issues from high model rental costs.
• Crypto majors fall 2-4% ahead of FOMC; BTC at $64.8k, ETH at $1,763.
• Memo coins mixed; DOGE -3%, PEPE -2%, SPX +12%.

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