November 6, 2025

Welcome to the Meridian Update. Yesterday brought a small recovery in Solana prices. On to the real news. Let’s dive in.

People want to invest in on-chain assets

What do Robinhood and Charles Schwab have in common? A lot, actually. But we are here to write about one thing and one thing only. Things happening in the on-chain world.

So what do Robinhood and Charles Schwab have in common that the Meridian Update and our prestigious readers care about?

Some news about Charles Schwab, the brokerage and investment services firm:

“JUST IN: $7 trillion Charles Schwab CEO Rick Wurster says the company plans to launch crypto trading in the first half of 2026.”

Some news about Robinhood, the financial and investment services company:

“Robinhood earnings top forecasts as crypto revenue jumps 300%”

Again, what do they have in common? That they both caught Crypto Twitter’s attention with some news that highlighted a major theme of the on-chain world in 2025. People want to invest in on-chain assets.

What is the White House saying about the on-chain world? (part 2)

Yesterday we noted that the White House said something about the on-chain world. What would we have said if you’d asked us, “Will the White House say something about the on-chain world again tomorrow?” We would’ve said, “Umm, probably not, but maybe?”

"Maybe" would’ve proven an excellent hedge:

“🇺🇸 JUST IN: President Trump claims ‘we're making the United States the Bitcoin superpower, the crypto capital of the world.’”

Bitcoin superpower and crypto capital of the world. We’ve heard crypto capital of the world recently, specifically from the White House’s new nominee for chair of the Commodity Futures Trading Commission (CFTC), an important regulator for on-chain financial markets.

As we described yesterday, it’s not exactly a surprise to hear this US presidential administration say positive things about or related to the on-chain world. But it is still news every time it does.

By the way, you might be wondering what “SBR” means in the tweet we referenced. Strategic Bitcoin reserve (SBR). The idea is the US government should hold Bitcoin, and maybe other on-chain assets, as a strategic reserve. The term SBR is specifically designed to bring to mind the Strategic Petroleum Reserve (SPR). You can sort of guess why the US wants an SPR. SBR is…a little less clear?

Time’s up for Time.fun

We often talk about ways people are using blockchain technology or on-chain assets for some real-world purpose. We’ve given particular attention to one category, decentralized physical infrastructure networks (DePINs), of this phenomenon. We will return to DePINs in a future Meridian Update, so don’t worry if you’re unfamiliar.

Another way people have tried to use blockchain technology for a real-world purpose is to connect, for a fee, people with notable people. Time.fun is an example that caught Crypto Twitter’s attention earlier this year. For a time, it created a marketplace for notable people’s time. The prices for each notable person’s time moved like the price of a token: up with more demand, down with less demand.

The prices for notable people’s time on Time.fun are very low. That is because it is shutting down:

“Time.fun is shutting down and most in-app actions are now disabled. You may continue to browse the app. Thank you to everyone who participated and supported us.”

Just as Crypto Twitter noticed Time.fun’s rise, it also noticed Time.fun’s fall. It was a good Time(.fun), not a long Time(.fun).

That’s a wrap

Robinhood and Charles Schwab made crypto news, the White House spoke again, and a once-popular product shut down. We’ll see you tomorrow morning.

Think we missed something today? Send us a note: email@meridianupdate.com.