Coin360 weekly crypto news, cryptocurrency updates, market movement

Coin360 weekly crypto news

Coin360 Weekly Dispatch | Crypto Market Updates & Highlights | May 18 - May 24, 2025

<h2>Bitcoin and Ethereum ETFs See $1.05B in Combined Inflows, Highest Since January</h2>On May 22, 2025, U.S. spot&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">Bitcoin</a> and&nbsp;<a href="https://coin360.com/coin/ethereum-eth">Ethereum</a> ETFs recorded a combined net inflow of $1.05 billion, their highest since January. Bitcoin ETFs attracted $934.8 million, led by BlackRock's IBIT with $877.2 million, while Ethereum ETFs gained $110.5 million, with Grayscale's ETHE bringing in $43.7 million. This marks a seven-day positive streak for Bitcoin and a five-day streak for Ethereum. Bitcoin recently reached new all-time highs, briefly hitting $112,000, while Ethereum surged to $2,668. Analysts note strong institutional buying amidst a "risk-on" environment, with some caution regarding potential weekend volatility.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>BlackRock's IBIT Bitcoin ETF Soars to Top Five with $9B in 2025 Inflows</h2>BlackRock's U.S. spot bitcoin ETF, IBIT, has surged into the&nbsp;<a href="https://x.com/EricBalchunas/status/1925152281558737026">top five ETFs</a> by year-to-date flows, reaching nearly $9 billion in net inflows in 2025. After a remarkable $6.5 billion inflow spree in the past month, IBIT now ranks fourth in assets under management at $66.9 billion, behind VOO, VTI, and SPLG. Currently, IBIT's flow surpasses the SPDR Bloomberg 1-3 Month T-Bill ETF, which has $8.8 billion. Overall, U.S. spot bitcoin ETFs have generated $7.6 billion in cumulative inflows this year, rebounding from earlier market turmoil.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>JPMorgan to Launch Managed Bitcoin Fund, Outsourcing Custody to NYDIG</h2>JPMorgan Chase has announced it will allow customers to invest in Bitcoin through an actively managed fund, despite CEO Jamie Dimon's longstanding criticism of the cryptocurrency. Dimon, who has previously called Bitcoin a fraud, acknowledged customer demand for Bitcoin investments, leading to this new offering, set to launch this summer. Custody of Bitcoin will be outsourced to NYDIG. JPMorgan, with a&nbsp;<a href="https://coin360.com/glossary/market-capitalization">market cap</a> of $740 billion and over $4 trillion in managed assets, continues to invest in blockchain technology, executing its first transaction on a public blockchain recently, highlighting a complex relationship with digital assets.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Canary Capital Amends Solana ETF to Include SOL Staking, Renamed 'Canary Marinade Solana ETF'</h2>Canary Capital has amended its&nbsp;<a href="https://coin360.com/coin/solana-sol">Solana</a> ETF filing, now named the 'Canary Marinade Solana ETF,' to include&nbsp;<a href="https://coin360.com/coin/solana-sol">SOL</a> staking through a partnership with Marinade Finance. This amendment comes as the SEC delays Solana ETF applications from 21Shares and Bitwise, with Canary's next decision deadline on August 17. Analysts predict an 82% chance of SEC approval for a Solana ETF in 2025, with a 90% likelihood from Bloomberg analysts. The SEC views Solana as a commodity, supported by its regulated&nbsp;<a href="https://coin360.com/glossary/futures-contracts">futures</a> market.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>VanEck to Launch Avalanche-Focused PurposeBuilt Fund Next Month</h2>VanEck is set to launch the VanEck PurposeBuilt fund next month, focusing exclusively on the&nbsp;<a href="https://coin360.com/coin/avalanche-avax">Avalanche</a> ecosystem. Managed by the Digital Assets Alpha Fund, it aims to support projects across various sectors, including gaming and AI, particularly after Token Generation Events. Portfolio manager Pranav Kanade emphasized Avalanche's favorable&nbsp;<a href="https://coin360.com/glossary/layer-1">Layer 1</a> architecture and robust business development as key reasons for the focus. The fund will also utilize any unused capital on-chain for liquidity solutions. Current fund size details are undisclosed, reflecting a broader trend of investment shifting towards builders beyond infrastructure offerings.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>a16z Leads $214M Funding Surge for Crypto Startups in One Week</h2>In one week, six crypto projects raised a total of $214 million, with a16z crypto leading significant investments. The largest fundraising came from&nbsp;<a href="https://coin360.com/coin/worldcoin-wld">Worldcoin</a>, which secured $135 million, followed by Slash with $41 million, and Catena Labs with $18 million. The total capital raised in 2025 has reached nearly $7.7 billion, an 87% increase from 2024, driven by favorable conditions including regulatory support and anticipated Federal Reserve interest rate cuts. The industry is projected to raise $18 billion this year, nearly double the averages of the previous two years, illustrating strong investor confidence in crypto startups.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>World Raises $135 Million in WLD Token Sale to Expand U.S. Presence and Enhance World ID Network</h2>World, previously known as Worldcoin, raised $135 million through a&nbsp;<a href="https://coin360.com/coin/worldcoin-wld">WLD</a> token sale, with participation from Andreessen Horowitz and Bain Capital Crypto. The funding aims to expand the World Network across the U.S. and enhance infrastructure for World IDs, which verify individual humanity using biometric data from iris scans. Over 26 million users have accessed the network, creating 12.5 million World IDs. World plans to launch in key U.S. cities, rewarding users with WLD tokens. The project, co-founded by Sam Altman of OpenAI, is positioned to become a self-sustaining protocol in the evolving AI landscape.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Theta Capital Secures $175M to Invest in Next-Gen Crypto Startups</h2><a href="https://coin360.com/coin/theta-theta">Theta</a> Capital recently raised $175 million for its new fund, Theta&nbsp;<a href="https://coin360.com/glossary/blockchain">Blockchain</a> Ventures IV, aimed at supporting specialized crypto venture capital firms that nurture early-stage blockchain startups. With nearly 20 years of experience managing $1.2 billion, the firm focuses on investing in crypto-native VCs to leverage their expertise in spotting innovative ideas. This funding comes as the crypto VC landscape rebounds, showcasing renewed investor confidence in decentralized finance and blockchain infrastructure. The raised capital is intended to empower startups that could revolutionize financial models, reinforcing Theta Capital's commitment to advancing the cryptocurrency ecosystem.This article has been refined and enhanced by ChatGPT.

Robot balances pastel ETF orb along crypto inflow channel

Robot balances pastel ETF orb along crypto inflow channel.webp

Crypto Funds Weekly Recap Marks Surge in ETF Flows and VC Bets

<h2>Revolut to Invest $1.1 Billion in France, Seeks Local Banking Licence</h2>Revolut Ltd, the UK-based fintech, plans to invest over €1 billion ($1.1 billion) in France over the next three years while seeking a local banking licence. This initiative aims to enhance its presence in Europe, especially as France now has the largest user base within the EU. Revolut will establish its Western European headquarters in Paris, creating at least 200 new jobs. Currently, the firm has 300 employees and 5 million users in France, targeting 10 million by 2026. Founded in 2015, it has 55 million global customers and reported $4.1 billion in revenue last year.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Bitcoin Suisse Secures In-Principle Approval to Expand Crypto Services in Abu Dhabi</h2><a href="https://coin360.com/coin/bitcoin-btc">Bitcoin</a> Suisse (BTCS) has received in-principle approval from Abu Dhabi's Financial Services Regulatory Authority to operate in the Abu Dhabi Global Market through its subsidiary, BTCS Middle East Ltd. This approval enables BTCS to offer regulated crypto financial services, including trading of virtual assets and derivatives. The company, holding over $6 billion in digital assets and $2.6 billion in institutional staking, aims for full licensing to expand its services in the growing Middle Eastern financial center. BTCS seeks to replicate its Swiss success internationally, highlighting high demand for crypto services in the region.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Kraken Launches Europe's Largest Regulated Crypto Derivatives Offering from Cyprus</h2><a href="https://coin360.com/exchange/kraken">Kraken</a> has launched Europe’s largest regulated crypto derivatives offering, enhancing its market position in the region. Available to eligible clients in the European Economic Area (EEA), the suite includes liquid&nbsp;<a href="https://coin360.com/glossary/futures-contracts">futures</a> instruments—both&nbsp;<a href="https://coin360.com/glossary/understanding-crypto-perpetual-futures">perpetual</a> and fixed maturity contracts—compliant with MiFID II. This initiative is supported by a MiFID-regulated investment firm acquired by Kraken, providing institutional-grade infrastructure, strong local fiat support, and flexible collateral options. Shannon Kurtas, Kraken’s Head of Exchange, noted the importance of the launch in meeting increasing digital asset trading demand in Europe, with derivatives offered through the Cyprus-based Payward Europe Digital Solutions (CY).<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Crypto.com Secures MiFID License to Offer Crypto Derivatives in Europe</h2><a href="https://coin360.com/exchange/crypto_com">Crypto.com</a> has secured a MiFID license to offer cryptocurrency financial derivatives in the European Economic Area, enhancing its European presence after obtaining a MiCA license in January. The announcement highlights the company's strategy to expand offerings, with CEO Kris Marszalek emphasizing increased engagement for customers. This move follows Kraken's recent launch of regulated derivatives trading and reflects a growing interest in crypto derivatives, as seen by&nbsp;<a href="https://coin360.com/review/coinbase">Coinbase</a>’s acquisition of Deribit and&nbsp;<a href="https://coin360.com/exchange/table">Gemini</a>’s expansion efforts. Crypto.com has a history of acquisitions, including Fintek Securities and Watchdog Capital, solidifying its position in the evolving crypto market.This article has been refined and enhanced by ChatGPT.

Robot enters pastel MiFID gateway surrounded by licensing arches

Robot enters pastel MiFID gateway surrounded by licensing arches.webp

New Crypto Licenses Weekly Mark Big Wins for Kraken, Crypto.com, BTCS

<h2>American Tourist Claims $123K in Crypto Stolen by Fake Uber Driver in London</h2>Jacob Irwin-Cline, an American tourist, claims he was drugged by a fake Uber driver in London, leading to the theft of $123,000 in cryptocurrency, including bitcoin and&nbsp;<a href="https://coin360.com/coin/xrp-xrp">XRP</a>. After a night out, he was lured into a fraudulent ride, allegedly spiked with the sedative scopolamine, causing memory lapses. Upon returning to his hostel, he discovered his crypto wallets were emptied, traced to exchanges&nbsp;<a href="https://coin360.com/review/mexc">MEXC</a> and BTSE. Local police are investigating, but Irwin-Cline reports a “less than 1% chance” of recovery, noting the organized nature of the attack and lack of follow-up from authorities.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Binance Seeks Dismissal of FTX's $1.76 Billion Clawback Lawsuit</h2><a href="https://coin360.com/review/binance">Binance</a> has requested a Delaware court to dismiss&nbsp;<a href="https://coin360.com/coin/ftx-token-ftt">FTX</a>’s $1.76 billion clawback lawsuit, claiming the case is "legally deficient" and lacks jurisdiction. FTX's estate, which sued Binance in November 2024, alleges that misappropriated customer funds financed a 2021 equity deal and accuses Binance and its co-founder Changpeng Zhao of orchestrating a scheme to undermine FTX. Binance argues that FTX operated for over 16 months post-deal and that Zhao’s public statements were not false. The dispute is part of FTX's broader efforts to recover over $11 billion owed to creditors, with major bankruptcy disbursements set to begin on May 30.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Semler Scientific Holds $466M in Bitcoin Amid Investigation by Law Firm</h2>Semler Scientific, a Nasdaq-listed healthcare technology firm, currently holds $466 million worth of&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">Bitcoin</a> after acquiring an additional $50 million this week. Despite facing an investigation from law firm Bragar Eagel &amp; Squire regarding potential violations of federal securities laws and business practices, Semler continues its Bitcoin investment strategy. The law firm has urged shareholders who have incurred losses to reach out. Semler's shares were trading at $44.20, down 1.6% in the last 24 hours, following a turbulent period tied to an ongoing inquiry by the U.S. Department of Justice into its reimbursement claims.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>UK Appeals Court Rejects $13.3B Class Action from BSV Investors Against Binance</h2>The UK Appeals Court dismissed the majority of a $13.3 billion class action against Binance from&nbsp;<a href="https://coin360.com/coin/bitcoin-sv-bsv">Bitcoin SV</a> (<a href="https://coin360.com/coin/bitcoin-sv-bsv">BSV</a>) investors, ruling that claims of BSV reaching Bitcoin-level value post-delisting were speculative. The court rejected the “loss of chance” claims, asserting investors had a duty to mitigate losses. While the lawsuit against Binance was narrowed, some smaller claims regarding investor losses due to access issues or selling at a loss may proceed. The ruling upheld a prior decision emphasizing the need for reasonable steps to reduce losses in a functioning market. BSV's value has fallen significantly since related court rulings.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Uniswap Dismisses Bancor's "Meritless" Patent Infringement Lawsuit as a Distraction</h2><a href="https://coin360.com/coin/uniswap-uni">Uniswap</a> Labs has dismissed&nbsp;<a href="https://coin360.com/coin/bancor-bnt">Bancor</a>'s patent infringement lawsuit, claiming it is “meritless” and a distraction amid the evolving crypto regulatory landscape. Bancor alleges Uniswap has misappropriated its constant product automated market maker (CPAMM) technology for over eight years. The public response has been largely negative towards Bancor, with accusations of being anti-<a href="https://coin360.com/glossary/decentralised-finance">DeFi</a> and criticism of its deviation from open-source principles. In contrast, some have scrutinized Uniswap for its use of intellectual property laws to restrict forks of its code. Uniswap CEO Hayden Adams described the lawsuit as possibly the “dumbest thing” he's encountered, dismissing its significance.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Global Operation RapTor Seizes $200M in Cash and Crypto; 270 Arrested in Narcotics Bust</h2>Operation RapTor has led to the arrest of 270 suspects across 10 countries and the seizure of $200 million in cash and digital assets, marking the largest enforcement action under the DOJ's JCODE initiative. Authorities confiscated over two metric tons of drugs, including 144 kilograms of fentanyl-laced substances, primarily trafficked through darknet markets. Major traffickers behind Nemesis and Incognito Markets were charged for using crypto to sell opioids. The operation underscores the growing trend of crypto in the drug trade, with Chainalysis linking Mexican cartels to Chinese fentanyl suppliers, further indicating crypto's role in laundering trafficked proceeds.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Iowa Supreme Court Rules Bitcoin Depot Must Keep $28K Seized from Scam Victims</h2>The Iowa Supreme Court has ruled in favor of Bitcoin ATM operator Bitcoin Depot, reversing a lower court's decision to return $28,000 in seized cash to scam victims. The court determined the victims, coerced into making Bitcoin transactions, entered a valid contract with Bitcoin Depot, which warned users of potential scams. One victim's claim of duress was rejected due to the absence of evidence of prior knowledge by the company. The ruling emphasizes legal clarity for crypto transactions, even as Iowa's Attorney General alleges significant losses linked to scams involving Bitcoin Depot, which retains a transaction fee of 23%.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Hawk Tuah Girl Haliey Welch Claims FBI, SEC Clearance Amid HAWK Memecoin Collapse</h2>Haliey Welch, known as "Hawk Tuah Girl," claims she was cleared by the FBI and SEC regarding the failed HAWK memecoin. Despite previously promoting the token as compliant and fan-focused, she now states she didn’t understand cryptocurrency. The HAWK token's&nbsp;<a href="https://coin360.com/glossary/market-capitalization">market cap</a> plummeted from $491 million to under $100 million, with losses initially estimated at $1.2 million, later revised to $180,000. Welch's comments have drawn skepticism, as many commentators criticize her lack of knowledge before endorsing the project. Currently, HAWK's market cap stands at just $104,000, down 99% since its peak in December 2024.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>SEC Charges Unicoin for Misleading Investors with Inflated Fundraising Claims and False Asset Backing</h2>The U.S. Securities and Exchange Commission (SEC) has charged Unicoin, Inc. and its executives for misleading investors through inflated fundraising claims and false asset backing. The SEC alleges that Unicoin claimed to have raised $3 billion, while only about $110 million was actually secured, deceiving over 5,000 investors. The company also falsely asserted that its crypto token was secured by billions in real estate and misrepresented its SEC registration status. The SEC seeks legal remedies, including restrictions on future activities and civil penalties, while Unicoin’s CEO, Alex Konanykhin, denies the allegations, calling them “crudely fabricated.”<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>SafeMoon CEO Braden Karony Convicted of Fraud, Faces 45 Years in Prison</h2>Braden Karony, CEO of&nbsp;<a href="https://coin360.com/coin/safemoon-v2-sfm">SafeMoon</a>, was convicted of defrauding investors in a cryptocurrency scheme, facing up to 45 years in prison. A federal jury found him guilty on three counts, including securities fraud, after he and co-conspirators misappropriated the liquidity pool, assuring investors it was locked. SafeMoon, launched in 2021, peaked at an $8 billion market cap. Prosecutors allege Karony diverted millions for personal gains, amassing over $9 million in crypto assets, which funded luxury purchases. Co-conspirator Thomas Smith has pleaded guilty, while Kyle Nagy remains at large. Karony maintains his innocence, asserting he did not commit fraud.This article has been refined and enhanced by ChatGPT.

Robot uncovers pastel SafeMoon evidence in crypto vault 

Robot uncovers pastel SafeMoon evidence in crypto vault.webp

This Week’s Legal Shockwaves Feature $200M Seizure, CEO Conviction, Lawsuits

<h2>Senate Advances GENIUS Act with 66-32 Vote, Sparking Bipartisan Support for Crypto Regulation</h2>The Senate recently voted 66-32 to advance the GENIUS Act, marking a significant bipartisan achievement with support from 16 Democrats who previously opposed it. Crypto advocates, including Bitwise CIO Matt Hougan, celebrated this vote, viewing it as a pivotal moment for U.S. dollar stability and crypto regulation, surpassing even the approval of spot bitcoin ETFs earlier this year. Hougan predicts the bill will pass this summer and trigger a long-term market rally, anticipating gains for&nbsp;<a href="https://coin360.com/coin/ethereum-eth">Ethereum</a>,&nbsp;<a href="https://coin360.com/coin/solana-sol">Solana</a>, and major&nbsp;<a href="https://coin360.com/glossary/decentralised-finance">DeFi</a> tokens like&nbsp;<a href="https://coin360.com/coin/uniswap-uni">Uniswap</a> and&nbsp;<a href="https://coin360.com/coin/aave-aave">Aave</a>, as the legislation is expected to promote broader adoption and investment in cryptocurrencies.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Texas Lawmakers Pass Bill for Strategic Bitcoin Reserve; Gov. Abbott Expected to Sign</h2>Texas lawmakers have passed Senate Bill 21, allowing for the creation of a strategic&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">Bitcoin</a> reserve, and Governor Greg Abbott is expected to sign it soon. The Texas&nbsp;<a href="https://coin360.com/glossary/blockchain">Blockchain</a> Council's President, Lee Bratcher, anticipates an initial investment of "tens of millions of dollars" in Bitcoin, which he deems modest for Texas's economy. If signed, Texas will become the third state with a Bitcoin reserve, following New Hampshire and Arizona. The bill aligns with broader trends, including President Trump's recent executive order on establishing a Strategic Bitcoin Reserve. Bitcoin recently reached an all-time high of approximately $109,400.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>UK Implements New Crypto Regulations Effective January 2026, Aligning with US Standards</h2>The UK government will enforce new crypto regulations starting January 1, 2026, requiring all crypto firms to collect and report extensive user and transaction data, including addresses and national insurance numbers, to HMRC. Non-compliance may result in fines of up to £300 per user, escalating for firms with large user bases. This move aligns the UK with US regulations, treating crypto assets as securities, diverging from the EU's MiCA framework. Finance Minister Rachel Reeves emphasized that these measures aim to enhance tax compliance, protect consumers, and position the UK as a leading hub for fintech innovation by the end of 2025.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Hong Kong Passes Stablecoin Bill, Establishing Licensing for Fiat-Backed Issuers by End of 2025</h2>Hong Kong's Legislative Council has passed the&nbsp;<a href="https://coin360.com/glossary/stablecoin">Stablecoin</a> Bill, introducing a licensing regime for fiat-backed stablecoin issuers. Institutions can begin applying for compliance with the Hong Kong Monetary Authority by the end of 2025. The law stipulates that&nbsp;<a href="https://coin360.com/glossary/stablecoin">stablecoins</a> must be backed by legal tender, promoting innovation while ensuring investor protections. This regulatory framework is designed to position Hong Kong competitively in the global stablecoin market, offering clear guidelines for issuance and oversight. Through this initiative, Hong Kong aims to facilitate the growth of the digital currency ecosystem while safeguarding market integrity and consumer interests.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Russia Proposes Bill to Classify Bitcoin and Digital Currencies as Seizable Property</h2>Russia's Ministry of Justice has proposed a bill to classify digital currencies, such as Bitcoin, as property that can be seized during criminal investigations. This legislation aims to improve the confiscation process by allowing law enforcement to seize physical devices holding access to digital currencies and to block transactions through court orders. Deputy Minister Vadim Fedorov emphasized the need to close legal loopholes hindering law enforcement's ability to manage crypto assets in crimes. The bill also calls for expert involvement to ensure the secure handling of these assets, and it is set for a first reading in the State Duma.This article has been refined and enhanced by ChatGPT.

Robot plays glowing GENIUS Act in pastel chess hall [GENIUS]

Robot plays glowing GENIUS Act in pastel chess hall [GENIUS].webp

This Week’s Global Policy Recap: GENIUS Act Clears Senate With 66 Votes

<h2>FIFA Partners with Avalanche to Launch EVM-Compatible Blockchain, Migrates NFTs from Algorand and Polygon</h2>FIFA has partnered with&nbsp;<a href="https://coin360.com/coin/avalanche-avax">Avalanche</a> to create a custom blockchain compatible with the&nbsp;<a href="https://coin360.com/coin/ethereum-eth">Ethereum</a><a href="https://coin360.com/glossary/ethereum-virtual-machine"> Virtual Machine</a> (<a href="https://coin360.com/glossary/ethereum-virtual-machine">EVM</a>), transitioning its FIFA Collect&nbsp;<a href="https://coin360.com/nft">NFT</a> collection from&nbsp;<a href="https://coin360.com/coin/algorand-algo">Algorand</a> and&nbsp;<a href="https://coin360.com/coin/polygon-ecosystem-token-pol">Polygon</a> to this new network. This decision aims to enhance speed, scalability, and security, facilitating seamless integration with popular wallets. Francesco Abbate, CEO of FIFA Collect, emphasized the benefits for future growth. The FIFA&nbsp;<a href="https://coin360.com/glossary/blockchain">Blockchain</a> will launch with a fully migrated FIFA Collect, discontinuing support for Algorand and Polygon. Avalanche's recent "Avalanche9000" upgrade aims to reduce developer costs, contributing to a 10% rise in its native token,&nbsp;<a href="https://coin360.com/coin/avalanche-avax">AVAX</a>, on May 22.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Major U.S. Banks Explore Joint Stablecoin Venture Amid Legislative Talks</h2>Major U.S. banks, including JPMorgan, Bank of America, Citigroup, and Wells Fargo, are in preliminary discussions to launch a joint stablecoin venture, as reported by the Wall Street Journal. The consortium may involve The Clearing House and Early Warning Services, the company behind Zelle. However, the project’s future is uncertain and depends on pending U.S. stablecoin legislation, specifically the GENIUS Act, which requires stablecoin issuers with market caps over $50 billion to maintain full dollar backing and undergo audits. Lawmakers are currently considering amendments before moving to a final vote and seeking approval from President Trump.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Kraken to Launch xStocks: Over 50 Tokenized Stocks and ETFs for Non-U.S. Customers</h2><a href="https://coin360.com/exchange/kraken">Kraken</a> is set to launch xStocks, offering over 50 tokenized stocks and ETFs for non-U.S. customers, including major companies like Apple, Tesla, and Nvidia. These tokens will be issued on the&nbsp;<a href="https://coin360.com/coin/solana-sol">Solana</a> blockchain and backed by real shares, allowing 24/7 trading for users in regions such as Europe and Latin America. This move aims to reduce complexities for international investors and improve access to U.S. equities. Kraken emphasizes regulatory compliance, working with various regulators to ensure legality. The initiative aligns with trends in tokenization, promising benefits like enhanced settlement speeds, reduced costs, and improved transparency.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Centrifuge Launches $400M Tokenized U.S. Treasury Fund on Solana</h2><a href="https://coin360.com/coin/centrifuge-cfg">Centrifuge</a> is expanding its tokenized asset services to the Solana blockchain, launching with Anemoy's $400 million tokenized U.S. Treasury fund (deJTRSY). This token enables Solana users to earn yield from short-term Treasuries via platforms like&nbsp;<a href="https://coin360.com/coin/raydium-ray">Raydium</a>, Kamino, and Lulo. The expansion leverages Centrifuge’s "deRWA tokens" for seamless use across&nbsp;<a href="https://coin360.com/glossary/decentralised-finance">DeFi</a> protocols. Solana's momentum in the tokenized real-world asset space is growing, with a projected market value of $18.9 trillion by 2033. The Solana Foundation has partnered with R3 to further integrate real-world assets into its ecosystem.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>R3 Partners with Solana to Facilitate Tokenization for Major TradFi Institutions</h2>R3 is partnering with the Solana Foundation to enable major TradFi institutions to tokenize real-world assets on Solana. R3, which manages over $10 billion in assets and includes clients like HSBC and Bank of America, aims to enhance the scale and liquidity of the tokenized asset ecosystem on a public blockchain. Tokenization, a key blockchain use case, could reach a market value of $18.9 trillion by 2033, according to Boston Consulting Group. Solana, known for its high transaction volume and active addresses, is positioned as a leading platform for regulated digital finance.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>SG Forge to Launch First USD Stablecoin by a Global Bank on Public Blockchains</h2>Société Générale’s crypto subsidiary, SG Forge, is set to launch a USD-backed stablecoin on public blockchains, such as Ethereum and Solana, marking a first for traditional banks. This move targets institutional investors in the $250 billion stablecoin market, dominated by private entities like&nbsp;<a href="https://coin360.com/coin/tether-usdt">Tether</a> and Circle. SG Forge, holding an EU e-money license, aims to compete with Circle’s&nbsp;<a href="https://coin360.com/coin/eurc-eurc">EURC</a>, which dominates the euro stablecoin space. Despite the success of its EURCV, the euro stablecoin market remains sluggish, with total&nbsp;<a href="https://coin360.com/glossary/market-capitalization">market cap</a> around €300 million, highlighting regulatory challenges under the EU’s MiCA framework affecting stablecoin issuers.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Franklin Launches Payroll Treasury Yield to Generate DeFi Yields on Idle Payroll Funds</h2>Franklin, a hybrid cash and crypto payroll provider, has launched Payroll Treasury Yield, enabling companies to earn decentralized finance (DeFi) yields on idle payroll funds. This initiative utilizes blockchain lending protocols via integrated Summer.fi, allowing companies to deposit&nbsp;<a href="https://coin360.com/glossary/stablecoin">stablecoins</a> into audited&nbsp;<a href="https://coin360.com/glossary/smart-contracts">smart contract</a>-based lending pools, lending to vetted borrowers. Franklin positions this as an alternative to traditional treasury tools, addressing operational complexity and limited returns. CEO Megan Knab predicts a future where public blockchain technology transforms payments, potentially sidelining banks. However, risks associated with decentralized lending, including smart contract vulnerabilities, are acknowledged and mitigated through overcollateralization.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Colombia Launches Pilot CBDC on Cosmos Network with IBC Eureka Protocol</h2>Colombia is set to launch its first central-bank digital currency (CBDC) on the&nbsp;<a href="https://coin360.com/coin/cosmos-atom">Cosmos</a> network, backed by major banks and the government, underpinned by the IBC Eureka protocol. This initiative aims to enhance cross-border settlements through programmable money while ensuring institutional security. The CBDC retains the legal status of cash and functions as a liability of the central bank. Interchain Labs’ CEO emphasized the need for a secure and understandable technology for the government. The pilot includes a permissioned approach, allowing the central bank and partner banks to define trusted validators, ensuring safety and transparency in transactions.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Ledn Shifts to Full Custody Bitcoin Loans, Discontinues Ethereum Support</h2>Ledn, a digital asset lender, is shifting to a full custody model for&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">Bitcoin</a> loans, discontinuing Ethereum support to focus solely on Bitcoin, which constitutes over 99% of its client activity. This move, announced on May 23, aims to enhance client asset security by avoiding the rehypothecation of assets. With a loan book value of $9.9 billion, Ledn allows Bitcoin holders to borrow against their assets without selling, a popular strategy among wealthy investors. This approach aligns with Bitcoin's founding principles against fractional reserve banking, as Ledn aims to simplify its operations and reinforce client trust.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Fold Launches Bitcoin Gift Card, Enabling Purchases Between $25 and $500</h2>Fold, a Nasdaq-listed Bitcoin financial services company, has launched the Fold Bitcoin Gift Card, enabling consumers to purchase and gift Bitcoin conveniently, with amounts ranging from $25 to $500. The card's development, in partnership with Totus, aims to integrate Bitcoin into the $300 billion gift card market. Fold plans to expand the card's availability in online and retail locations across the US. To redeem, recipients must verify their Fold account. The company currently holds over 1,485&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">BTC</a> in its treasury and focuses on making Bitcoin accessible through various products, including the Fold App and Fold Credit Card.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Schuman Financial Launches MiCA-Compliant Euro Stablecoin on XRP Ledger</h2>Schuman Financial has launched EURØP, a MiCA-compliant euro stablecoin, on the&nbsp;<a href="https://coin360.com/coin/xrp-xrp">XRP</a> Ledger (XRPL), representing a significant advancement in regulated digital assets. EURØP is a fully redeemable, euro-backed stablecoin issued by a licensed electronic money token issuer and boasts reserves audited by KPMG. The XRPL has processed over 3.3 billion transactions and supports over 6 million wallets, maintained by 200+ validators. This integration provides a euro settlement layer for DeFi, payments, and tokenized assets, positioning EURØP as a key player in Europe's digital currency landscape as MiCA regulations come into full effect.This article has been refined and enhanced by ChatGPT.

Robot collecting DeFi orbs in pastel treasury temple [DeFi]

Robot collecting DeFi orbs in pastel treasury temple [DeFi].webp

TradFi-Crypto Ties This Week Highlight DeFi Yield, CBDCs, and Real Assets

<h2>Strategy Acquires 7,390 BTC for $765M Amid Class-Action Lawsuit</h2>Strategy, formerly MicroStrategy, recently&nbsp;<a href="https://coin360.com/news/strategy-metaplanet-bitcoin-holdings-lawsuit-impact">acquired</a> 7,390&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">BTC</a> for approximately $765 million, as&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">Bitcoin</a> prices rose above $100,000. This purchase brings its total holdings to 576,230 BTC worth over $59.2 billion, resulting in an unrealized gain of $19.2 billion (47%). However, the company faces a class-action lawsuit for allegedly failing to accurately represent Bitcoin investment risks. The suit involves executives Michael Saylor, Phong Le, and Andrew Kang, accusing them of misleading statements regarding Bitcoin's profitability. As of May 18, Bitcoin traded around $102,615, up 20.3% over the last month.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Strategy Plans $2.1B Raise to Boost Bitcoin Holdings as BTC Reaches New ATH</h2>Strategy (NASDAQ:&nbsp;<a href="https://coin360.com/coin/starknet-token-strk">STRK</a>) plans to raise $2.1 billion to enhance its Bitcoin holdings following a recent all-time high (<a href="https://coin360.com/coin/aethir-ath">ATH</a>) for BTC, reaching approximately $111.9k. The company has entered a sales agreement for 10% series A preferred stock at $0.001 per share. Strategy currently holds about 576,230 BTC, constituting 2.74% of total supply. Analysts from Standard Chartered predict BTC could soar beyond $200k by late 2025, fueled by a favorable regulatory environment and increased demand. Despite facing a class action lawsuit from the U.S. SEC, Strategy's investment strategy has inspired other companies, notably MetaPlanet, to follow suit.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Metaplanet Acquires 1,004 Bitcoin, Aiming for 10,000 BTC by Year-End 2025</h2>Metaplanet, a Japan-based investment firm, has acquired 1,004 Bitcoin for $104.95 million, boosting its total holdings to 7,800 BTC, with a strategic goal of reaching 10,000 BTC by December 2025. Their cumulative cost basis stands at 105.384 billion yen (approx. $728 million). The company recently reported a BTC Yield of 47.8% and plans to launch Metaplanet Treasury to raise $250 million for further acquisitions. Ranked 11th globally among corporate Bitcoin holders, Metaplanet's stock surged 1,700% since mid-2024, reflecting a rising corporate interest in Bitcoin as a hedge against economic uncertainties.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Méliuz Becomes Brazil's First Public Firm with Bitcoin Treasury by Acquiring 274 BTC for $28.4M</h2>On May 19, 2025, Brazilian fintech Méliuz announced the purchase of 274.52 BTC for $28.4 million, becoming Brazil's first publicly traded company to adopt a bitcoin treasury strategy. With this acquisition, Méliuz's total holdings increased to 320.2 BTC, valued at over $33.3 million. The firm acquired BTC at an average price of $103,604 per coin, resulting in a 116% stock surge since its initial purchase in March, rising from $0.68 to $1.47. This move follows trends seen in firms like Strategy and Metaplanet, with DDC Enterprise also entering the market with a goal of acquiring 5,000 BTC.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>BTCS Acquires $8.4M in ETH, Boosts Holdings to 12,500 ETH Amid Market Surge</h2>BTCS, a Maryland-based Nasdaq-listed blockchain firm, has purchased 3,450&nbsp;<a href="https://coin360.com/coin/ethereum-eth">ETH</a> for $8.42 million, raising its total holdings to 12,500 ETH valued at approximately $31.8 million. CEO Charles Allen emphasized&nbsp;<a href="https://coin360.com/coin/ethereum-eth">Ethereum</a>'s critical role in the company's operations, aiming to enhance validator activities and staking revenue. The acquisition follows BTCS's recent announcement to issue up to $57.8 million in convertible notes for more ETH. Amidst a 53% rise in ETH's value due to the Pectra upgrade, BTCS's stock surged, closing up 13.5% at $2.68 and increasing an additional 8.58% in after-hours trading.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Strive Targets $8 Billion in Mt. Gox Claims to Build Bitcoin Treasury, Plans Nasdaq Merger</h2>Strive Enterprises, co-founded by Vivek Ramaswamy, is seeking to acquire 75,000 BTC (approximately $8 billion) in claims from the distressed Mt. Gox exchange as part of its strategy to create a discounted bitcoin treasury. The firm, in collaboration with 117 Castell Advisory Group, aims to identify legally confirmed claims to enhance its bitcoin holdings per share for long-term benefits. Additionally, Strive plans to merge with Nasdaq-listed Asset Entities to become the first publicly traded bitcoin-focused asset manager, positioning itself alongside other aggressive bitcoin-acquiring firms like Strategy and Metaplanet, pending shareholder approval.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Semler Scientific Surpasses 4,000 BTC After $50 Million Purchase of 455 Bitcoins</h2>Semler Scientific, a Nasdaq-listed healthcare tech firm, recently surpassed 4,000 Bitcoin holdings by purchasing 455 BTC for $50 million, increasing its total to 4,264 BTC. This latest acquisition, made between May 13 and May 22, involved an average price of $109,801 per coin. Overall, Semler has invested $390 million in Bitcoin at an average price of $91,471, with a current market value of $474.4 million. The company reported a Bitcoin Yield of 25.8% year-to-date and has implemented a Bitcoin treasury strategy since May 2024. Semler's stock fell 6.7% to $41.89, reflecting a&nbsp;<a href="https://coin360.com/glossary/market-capitalization">market cap</a> of $498 million.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>MARA Allocates 500 BTC to Two Prime, Aiming for Enhanced Yield and Capital Efficiency</h2>Bitcoin miner Marathon Digital (MARA) plans to allocate 500 BTC to SEC-registered advisor Two Prime as part of an expanded yield strategy, leveraging its substantial 48,137 BTC treasury. This partnership aims to enhance capital efficiency and transparency in digital asset management. Despite a&nbsp;<a href="https://coin360.com/glossary/market-capitalization">market capitalization</a> of $5.7 billion and a first-quarter revenue increase to $214 million, MARA reported a net loss of $533 million. The company is pursuing up to $2 billion in stock offerings to grow its bitcoin holdings. Year-to-date, MARA shares are down 8%, while Bitcoin prices have surged, hitting a new all-time high above $110,000.This article has been refined and enhanced by ChatGPT.

Robot spinning BTC in surreal mint-amber glass vault [Bitcoin]

Robot spinning BTC in surreal mint-amber glass vault [Bitcoin].webp

This Week’s Smart Money Snapshot: Firms Race to Lock Bitcoin Gains

<h2>Hilbert Group Targets Institutional-Grade Crypto Expansion Through Syntetika Phases</h2>Hilbert Group AB, a Nasdaq-listed digital investment firm, has&nbsp;<a href="https://hilbert.group/en/hilbert-group-publishes-syntetika-roadmap/">released</a> the roadmap for&nbsp;<a href="https://syntetika.io/">Syntetika</a>, its new tokenization and trading platform developed in collaboration with Galactica.com. The roadmap, structured across three key phases, outlines Syntetika’s vision to become a regulatory-compliant venue for trading tokenized real-world assets, including pre-IPO shares, alongside native crypto assets.&nbsp;<figure class="image"><img alt="syntetika-roadmap-250516_11zon.webp" src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/syntetika_roadmap_250516_11zon_f42f4c1784.webp"></figure><h3>Phase 1: Foundation &amp; Protocol Launch (May – July 2025)</h3>This initial stage lays the technical and regulatory groundwork for Syntetika, preparing the platform for strategic growth and institutional engagement.<ul><li>Integrates Galactica’s zero-knowledge KYC (zkKYC) to ensure tokens can trade on decentralized exchanges while remaining compliant.</li><li>Kicks off the first tranche of the SYNT token sale, focused on onboarding VCs and strategic institutional partners.</li><li>Begins institutional onboarding for the&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">Bitcoin</a> yield token.</li><li>Targets up to&nbsp;$200 million in&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">BTC</a> deposits for the platform’s initial yield vaults.</li></ul><h3>Phase 2: Liquidity &amp; Token Generation Event (August – September 2025)</h3>This phase marks the launch of the Syntetika platform and token tradability, unlocking broader access to liquidity and crypto trading.<ul><li>Launches both the Syntetika platform and its native token SYNT on mainnet.</li><li>Conducts the Token Generation Event (TGE), unlocking pre-launch token allocations for trading.</li><li>Lists SYNT on centralized exchanges.</li><li>Opens BTC yield vaults to the public.</li><li>Starts distributing SYNT incentives via a permissionless liquidity program.</li></ul><h3>Phase 3: Ecosystem Expansion (October – December 2025)</h3>The final phase scales Syntetika’s product offerings and asset support to establish a broad, tokenized trading ecosystem.<ul><li>Adds tokenized pre-IPO stocks and real-world equities to the platform.</li><li>Expands yield products to cover assets like&nbsp;<a href="https://coin360.com/coin/ethereum-eth">Ethereum</a>,&nbsp;<a href="https://coin360.com/coin/solana-sol">Solana</a>, and&nbsp;<a href="https://coin360.com/coin/xrp-xrp">Ripple</a>.</li><li>Establishes Syntetika as a multi-asset platform with diverse tokenized investment options tied to the&nbsp;<a href="https://coin360.com/">crypto price</a> index and broader coin&nbsp;<a href="https://coin360.com/glossary/market-capitalization">market cap</a> trends.</li></ul>Hilbert Group CEO Barnali Biswal emphasized the project's broader impact, stating, “With Syntetika, we are redefining secure, compliant tokenized trading. Together with Galactica, our institutional-grade platform will drive the democratization of global market access.” The roadmap underscores a growing institutional appetite for blockchain-based financial infrastructure, reflecting a broader trend of digital asset platforms aligning with regulatory frameworks to capture larger portions of the coin market cap.This article has been refined and enhanced by ChatGPT.

Robot hoists BTC orb in pastel vault.jpg

Syntetika Unveils Roadmap for Tokenized Asset Trading Platform with $200M Bitcoin Yield Vault Goal

Robot manipulates broken oracle vault amid crypto price index failure

Robot manipulates broken oracle vault amid crypto price index failure.webp

Cetus Protocol Suffers $220M Exploit, Freezes Trading as Tokens Crash 80%

<h2>Bitcoin Treasury Moves Gain Momentum as Lawsuit Casts Shadow Over Strategy</h2>Strategy, formerly known as MicroStrategy, made headlines again after disclosing the&nbsp;<a href="https://x.com/Strategy/status/1924435820947058877">purchase</a> of 7,390&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">BTC</a> for $764.9 million between May 18 and 19, 2025. The acquisition, made at an average price of roughly $103,498 per&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">Bitcoin</a>, pushes Strategy’s total holdings to a staggering 576,230 BTC.&nbsp;<figure class="image"><img src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/Screenshot_6_ddae06ac00.png" alt="Screenshot_6.png"><figcaption>Source: X</figcaption></figure>Acquired at a cumulative cost of $40.18 billion, the company's average acquisition price now stands at $69,726 per coin. Based on current valuations, the&nbsp;<a href="https://coin360.com/">crypto price</a> index values Strategy’s stash at more than $59.2 billion, representing unrealized gains of approximately $19.2 billion—up 47% overall. Year-to-date, the firm’s Bitcoin position has returned 16.3%, solidifying its position as the dominant corporate player in Bitcoin accumulation.Despite mounting pressure from a class-action lawsuit, Strategy’s Executive Chairman Michael Saylor reaffirmed his long-term conviction on Bitcoin via a post on X, calling for early adoption before a supposed supply crunch by 2035.&nbsp;<figure class="image"><img src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/Screenshot_8_5a097dad20.png" alt="Screenshot_8.png"><figcaption>Source: X</figcaption></figure>The optimism comes as the firm faces serious legal headwinds. A&nbsp;<a href="https://assets.contentstack.io/v3/assets/bltf8d808d9b8cebd37/bltfba7ca0af6a9f6a8/682a9fc86555216ab73157fb/form-8-k_05-19-2025.pdf">class-action suit</a> filed in the Eastern District of Virginia targets Saylor, President and CEO Phong Le, and CFO Andrew Kang. Plaintiffs allege violations of federal securities laws, including Section 10(b), Rule 10b-5, and Section 20(a) of the Securities Exchange Act.&nbsp;The complaint accuses the company of misrepresenting Bitcoin’s profitability, minimizing volatility risks, and issuing misleading financial statements. It specifically references Strategy’s recent $5.91 billion quarterly loss disclosure on April 7, which triggered an 8.67% drop in its share price. The suit leans heavily on the updated crypto asset reporting rules under Accounting Standards Update 2023-08.Even with the legal battle intensifying, market reaction suggested resilience. Strategy’s stock, MSTR, rose by $4.78 or 1.20% on May 19 to close at $404.58. The uptick followed an early 2% dip in pre-market trading, highlighting investor confidence amid broader macro challenges, such as Moody’s U.S. credit rating downgrade and surging 30-year Treasury yields. Analysts suggest the legal overhang is being overshadowed by the firm’s strong Bitcoin exposure and perceived long-term positioning.Meanwhile, Tokyo-based Metaplanet is stepping into Strategy’s playbook with increasing intensity. The company confirmed it&nbsp;<a href="https://x.com/Metaplanet_JP/status/1924300151025209474">purchased</a> 1,004 BTC for $104.8 million this month, bringing its total holdings to 7,800 BTC. At a cost basis of $91,340 per coin, Metaplanet now sits on an unrealized gain of about $90.9 million, or 12.7%.&nbsp;<figure class="image"><img src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/Screenshot_7_097d748903.png" alt="Screenshot_7.png"><figcaption>Source: X</figcaption></figure>The firm has set an ambitious goal to accumulate 10,000 BTC by year-end, and appears to be on track. However, its returns have tapered: down from 309.8% in Q4 2024 to 95.6% in Q1 2025, and currently at 47.8% from April 1 to May 19, based on preliminary numbers. Still, the company’s bold strategy continues to draw attention, mirroring Strategy’s approach in a region hungry for digital asset exposure.Zooming out, corporate Bitcoin adoption is accelerating rapidly. Public and private firms now hold 1,082,164 BTC, worth approximately $110.8 billion, according to current coin&nbsp;<a href="https://coin360.com/glossary/market-capitalization">market cap</a> estimates. This accounts for around 5.5% of Bitcoin’s total circulating supply, or 6.25% when excluding dormant and lost coins. Strategy alone controls roughly 2.74% of Bitcoin’s entire supply. Analysts describe this stage as the “second phase” of the technology adoption curve—defined by institutional alignment—comparable to the adoption trajectory of mobile technology and the internet.<figure class="image"><img src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/Screenshot_9_f98d38b95b.png" alt="Screenshot_9.png"><figcaption>Source: BitcoinTreasuries</figcaption></figure>The corporate crypto price index is gaining diversity beyond Strategy and Metaplanet. Semler Scientific currently holds 3,808 BTC valued at $390.1 million.&nbsp;<a href="https://coin360.com/coin/tether-usdt">Tether</a> has expanded its reserves to 100,521 BTC, worth over $10.3 billion—a 25% increase from late 2024. Other firms have seen significant market responses to their Bitcoin strategies. Top Win, recently rebranded as AsiaStrategy, witnessed its stock surge more than 60% after revealing a BTC-centric initiative with Sora Ventures. A Bahrain-based catering company with a modest market cap of $24.2 million joined the trend through a partnership with 10X Capital. Additionally, XXI, led by Jack Mallers, disclosed a sizable holding of 31,500 BTC, valued at $3.2 billion.Reaction to Strategy’s legal trouble has been mixed. Notably, pseudonymous developer 0xngmi from DeFiLlama dismissed the lawsuit’s merit, stating that investors should understand the firm is a “leverage on Bitcoin” play. He argued that the risks were well-telegraphed and the allegations of misrepresentation were unfounded. Nonetheless, the legal proceedings could become a test case for how crypto-heavy public companies are expected to navigate disclosure standards under evolving accounting frameworks.Strategy Inc.’s aggressive&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">Bitcoin</a> treasury strategy took another leap forward on May 22, 2025, as the company&nbsp;<a href="https://x.com/strategy/status/1925523030966452430">unveiled</a> plans to raise $2.1 billion through an At-The-Market equity offering. The move, aimed at expanding its already massive Bitcoin position, involves selling 10% Series A Perpetual Strife Preferred Stock at a nominal price of $0.001 per share.&nbsp;<figure class="image"><img alt="Screenshot_2.png" src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/Screenshot_2_9b243122e8.png"></figure>The announcement marks Strategy’s second major capital-raising effort in under three months, following its March 10 disclosure of a $21 billion plan tied to its Series A Perpetual Strike Preferred Stock. With this latest initiative, Strategy is doubling down on its public equity-financed approach to accumulating Bitcoin, reinforcing a pattern of weekly&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">BTC</a> purchases that have already seen its holdings reach 576,230 BTC—around 2.74% of Bitcoin’s fixed 21 million coin supply.Bitcoin’s market response was immediate. The&nbsp;<a href="https://coin360.com/">crypto price</a> broke through its previous record to reach a new all-time high of $111,900 on May 22, riding a wave of bullish sentiment that many attributed in part to Strategy’s mounting accumulation. The company’s influence on the coin&nbsp;<a href="https://coin360.com/glossary/market-capitalization">market cap</a> and broader price action has become a dominant force in recent months, with analysts viewing its purchases as both a liquidity event and a psychological driver of demand.&nbsp;<figure class="image"><img alt="Screenshot_6.png" src="https://prod-coin360-cms.s3.eu-central-1.amazonaws.com/Screenshot_6_92f5b41648.png"></figure>Forecasts from Standard Chartered now predict Bitcoin will hit $120,000 by the end of Q2 2025 and could surge to $200,000 before year-end. Analysts point to several tailwinds, including the market's perceived supply shock and regulatory optimism spurred by the GENIUS Act, a U.S. legislative shift viewed as crypto-friendly.However, despite Bitcoin’s strength, the equity market told a different story. On May 23, Strategy’s stock dropped 6% in a broader sell-off that hit multiple crypto-exposed firms. The retreat followed Bitcoin’s slight pullback to $108,069.72—a modest 2.39% dip from its peak—but underscored deeper investor anxiety about the sustainability of BTC-centric treasury models. The ripple effects extended to other high-profile players including MSTR and SMLR, highlighting growing skepticism toward firms aggressively intertwining equity capital with crypto volatility.This divergence between the crypto price index and equity sentiment has stirred renewed debate about the prudence of Bitcoin-heavy treasury strategies. While Strategy’s position has yielded substantial unrealized gains and played a role in driving institutional BTC adoption, investor confidence in the equity instruments backing those positions appears increasingly fragile. Equity analysts have&nbsp;<a href="https://x.com/lowstrife/status/1925717037915005357">expressed caution</a>, noting that shareholders may not be fully aligned with executive leadership’s high-conviction Bitcoin thesis—even amid record crypto price levels.This article has been refined and enhanced by ChatGPT.

Robot hoisting Bitcoin orb in crypto vault

Robot hoisting Bitcoin orb in crypto vault.webp

Strategy and Metaplanet Push Corporate Bitcoin Holdings Past $1 Billion Despite Legal Blowback

<h2>Multiple Class Actions Allege Security Negligence and Data Misuse</h2><a href="https://coin360.com/review/coinbase">Coinbase</a> is under intense legal scrutiny after revelations of a major&nbsp;<a href="https://coin360.com/news/coinbase-data-breach-customer-info-ransom-demand">data breach</a>, insider corruption, and alleged biometric privacy violations sparked at least six class-action lawsuits between May 13 and 16, 2025. The breach, now confirmed by multiple filings, involved unauthorized access to user data through bribery of India-based customer support contractors.&nbsp;Hackers reportedly paid Coinbase agents for system access, enabling the theft of personally identifiable information such as email addresses, phone numbers, masked Social Security numbers, and transaction histories. Although private keys and passwords were not exposed, plaintiffs argue the compromised data poses severe, lifelong risks of identity theft and fraud.Court documents reveal Coinbase refused to pay a $20 million ransom demanded by the perpetrators. Instead, the exchange announced a matching $20 million bounty to incentivize leads that could help identify and prosecute the attackers. Critics argue the company’s response was sluggish and disorganized.&nbsp;According to plaintiffs, users weren’t notified promptly, and Coinbase failed to offer identity protection or actionable steps in the immediate aftermath. The lawsuits collectively describe Coinbase’s breach response as “fragmented and uncoordinated,” with one suit, led by Paul Bender in New York, citing the absence of even basic data protection protocols.On May 19, Bloomberg&nbsp;<a href="https://www.theblock.co/post/354935/doj-launches-criminal-investigation-into-coinbase-cyberattack-bloomberg">reported</a> that Coinbase is under investigation by the U.S. Department of Justice following the cyberattack. Coinbase has reported the incident to law enforcement and is cooperating fully, with Chief Legal Officer Paul Grewal expressing support for criminal charges against the attackers.&nbsp;Further class actions filed by users in Maine and Texas claim Coinbase had grossly underinvested in cybersecurity infrastructure, did not properly train its employees, and failed to monitor its outsourced support staff. These allegations were echoed in a separate California lawsuit by Rosemary Ortiz, who argued the company unnecessarily retained outdated personal data that should have been deleted or encrypted—thereby amplifying the breach’s damage. Plaintiffs from all suits emphasized that while direct financial harm has not yet been reported, the leaked data places users at ongoing risk, forcing them to bear the cost of continuous credit monitoring and financial protection.Coinbase acknowledged the incident in a public statement, pledging “full transparency,” and disclosed to the U.S. Securities and Exchange Commission that it has set aside between $180 million and $400 million to cover possible reimbursements and mitigation efforts.&nbsp;As part of its remediation plan, Coinbase has terminated the involved Indian contractors and referred them for criminal prosecution. The firm has also implemented enhanced&nbsp;<a href="https://coin360.com/coin/space-id-id">ID</a> verification checks, scam-awareness prompts, and bolstered its internal systems to detect insider threats more efficiently. Plans are underway to open a new, U.S.-based customer support center.Simultaneously, a separate federal&nbsp;<a href="https://www.courtlistener.com/docket/70255932/1/bernstein-v-coinbase-global-inc/">class-action lawsuit</a> was filed in Illinois on May 13, targeting Coinbase’s biometric data practices. Plaintiffs Scott Bernstein, Gina Greeder, and James Lonergan accuse the company of violating the state’s Biometric Information Privacy Act (BIPA) through its Know Your Customer (KYC) process. The suit alleges Coinbase collected users’ facial biometrics from selfies and government-issued IDs without obtaining explicit written consent, as required under BIPA. Furthermore, the company allegedly failed to notify users about how their data would be stored, shared, or ultimately destroyed.The biometric data was reportedly processed by third-party providers—Jumio, Onfido, Au10tix, and Solaris—acting under Coinbase’s direction to extract and analyze facial geometry. Plaintiffs claim Coinbase facilitated indiscriminate biometric harvesting and unlawfully shared this data without proper user authorization or public disclosure. The lawsuit seeks statutory damages of $5,000 for each intentional or reckless violation and $1,000 for each negligent breach, alongside court orders to change Coinbase’s data handling policies and cover litigation costs.More than 10,000 users have filed arbitration claims against Coinbase over the biometric issue through the American Arbitration Association. Many of these cases were dismissed after Coinbase allegedly refused to pay required arbitration fees, further escalating criticism of the platform’s handling of user grievances. As legal battles mount on multiple fronts, the exchange now faces significant reputational and financial exposure amid intensifying regulatory and user backlash.This article has been refined and enhanced by ChatGPT.

Robot extracts biometric [XXX] fragments from glowing translucent orb

Robot extracts biometric [XXX] fragments from glowing translucent orb.webp

Coinbase Faces Legal Firestorm Over Data Breach, Insider Bribery, and Biometric Privacy Violations

Coin360 Weekly Dispatch | Crypto Market Updates & Highlights | May 11 - May 17, 2025

<h2>Gibraltar Introduces World's First Regulatory Framework for Crypto Derivatives Clearing and Settlement</h2>The Gibraltar government is establishing the world's first regulatory framework for the clearing and settlement of crypto derivatives in collaboration with crypto exchange&nbsp;<a href="https://coin360.com/exchange/bullish">Bullish</a>. This initiative aims to enhance market integrity and reduce counterparty risks, allowing virtual asset derivative contracts to be managed by recognized clearing houses. Developed with the Gibraltar Financial Services Commission over the past six months, the framework adapts traditional financial regulations for the virtual asset sector. The new rules will facilitate the establishment of independent clearing houses, ensuring improved transparency and capitalization, thereby addressing potential failures in trade settlement commonly faced by unregulated exchanges.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Thailand to Issue $150M G-Tokens to Boost Digital Investment and Test Market</h2>Thailand's Ministry of Finance plans to issue 5 billion baht ($150 million) in digital investment tokens, known as G-Tokens, within two months to raise funds and test the market. Finance Minister Pichai Chunhavajira stated that investors can expect higher returns than traditional bank deposits, which currently offer 1.25%-1.5% interest rates. This initiative follows a cabinet endorsement and aligns with a broader strategy to enhance the country's crypto landscape, including a tax exemption for crypto earnings and the approval of&nbsp;<a href="https://coin360.com/glossary/stablecoin">stablecoins</a>&nbsp;<a href="https://coin360.com/coin/usd-coin-usdc">USDC</a> and&nbsp;<a href="https://coin360.com/coin/tether-usdt">USDT</a> for trading on digital exchanges.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Panama City Mayor Considers Bitcoin Reserve After Meeting El Salvador’s Bitcoin Leaders</h2>Panama City Mayor Mayer Mizrachi hinted at establishing a city-level&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">Bitcoin</a> reserve following a meeting with El Salvador’s Bitcoin leaders, Max Keiser and Stacy Herbert. His cryptic post on May 16 preceded the Bitcoin 2025 conference where he is set to speak. Panama recently approved using cryptocurrency for public payments, including taxes and fines. Mizrachi would need to collaborate with the National Assembly for federal legislation on a Bitcoin reserve. Notably, El Salvador has a Bitcoin reserve of 6,179&nbsp;<a href="https://coin360.com/coin/bitcoin-btc">BTC</a>, valued at approximately $640 million, and aims to leverage renewable energy for Bitcoin mining in both countries.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>OCC Authorizes National Banks to Enter Crypto Markets, Responding to Growing Demand</h2>On May 13, 2025, the OCC&nbsp;<a href="https://x.com/USOCC/status/1922291663822582010">announced</a> that national banks are authorized to engage in diverse crypto-asset activities, removing previous regulatory ambiguities. This policy shift, aligned with the Federal Reserve's recent guidance changes, allows banks to offer services like crypto custody and trading. Approximately 55 million Americans (21% of adults) own crypto, highlighting growing demand. While the U.S. banking system is poised for digital asset integration, implementation challenges include compliance with AML regulations and lack of FDIC insurance for digital assets. This shift represents a significant evolution in U.S. banking policy toward crypto, fostering competition with fintech firms.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Dubai Partners with Crypto.com to Facilitate Digital Asset Payments for Government Fees</h2>Dubai has partnered with&nbsp;<a href="https://coin360.com/exchange/crypto_com">Crypto.com</a> to accept digital asset payments for government fees, advancing its cashless strategy. The Department of Finance (DOF) aims for over 90% of transactions to be cashless by next year. Upon agreement finalization, customers can use Crypto.com’s digital wallets to pay fees, with the platform converting crypto into Emirati dirhams. The emirate is recognized as a crypto-friendly hub, preparing to host&nbsp;<a href="https://coin360.com/review/binance">Binance</a>&nbsp;<a href="https://coin360.com/glossary/blockchain">Blockchain</a> Week in December. DOF’s executive director emphasizes the partnership's role in enhancing regulatory frameworks, customer trust, and economic growth, solidifying Dubai's position in financial technology and global innovation.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>Ukraine and Binance Team Up to Establish National Bitcoin Reserve Amid Ongoing Economic Challenges</h2>Ukraine is drafting a policy to establish a national Bitcoin reserve in partnership with Binance, aimed at strengthening its economy amid ongoing financial pressure from the war with Russia. A draft bill, nearing completion, will create a legal framework for holding Bitcoin as a strategic asset, reflecting the country’s commitment to cryptocurrency adoption. Binance's support may lead to significant regulatory changes, enhancing Ukraine's crypto landscape. With Bitcoin prices around $103,000, this initiative seeks to diversify Ukraine's financial resources and attract global investment, positioning the country as a potential leader in cryptocurrency integration in Eastern Europe.<div class="page-break" style="page-break-after:always;">&nbsp;</div><h2>France Enhances Security for Crypto Entrepreneurs Amid Rising Kidnappings</h2>French law enforcement is implementing enhanced security measures for crypto entrepreneurs and their families due to a rise in crypto-related kidnappings. Key measures include priority access to emergency police lines, home security assessments, and safety briefings. Interior Minister Bruno Retailleau initiated these steps following three kidnapping incidents this year, with the latest attempt occurring on May 13. Since 2014, there have been over 150 crypto-related robberies or kidnappings, with 23 incidents in 2025 alone. Experts advise caution in sharing personal information on social media to mitigate risks and discourage peer-to-peer trades with strangers.This article has been refined and enhanced by ChatGPT.

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