1. Data: The total market value of stablecoins has surpassed $250 billion, setting a new historical high
The total market value of stablecoins has surpassed $250 billion, setting a new historical high. Currently reaching $250,056,831,216. Tether (USDT) has a market value of over $153 billion, accounting for about 61.2%, ranking first; USDC has a market value of over $61 billion, ranking second.
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2. U.S. SEC Commissioner Peirce: Meme coins like $TRUMP are not within SEC's regulatory scope
SEC Commissioner Hester Peirce stated that the $TRUMP coin is not within the SEC's regulatory scope. She said that since the SEC no longer regulates meme coins, investors should not expect any guidance on $TRUMP. The SEC announced in February that most meme coins are not considered securities under U.S. federal law.
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3. Litecoin launches Layer-2 network LitVM, introducing smart contracts
Lunar Digital Assets announces the launch of the Litecoin ecosystem zero-knowledge Layer-2 network LitVM, introducing smart contracts to Litecoin, which was born in 2011. The network is built on BitcoinOS and Polygon CDK and has the support of the Litecoin Foundation. Lunar Digital Assets states that LitVM will help Litecoin expand into the DeFi and Web3 ecosystems, providing on-chain use cases such as stablecoin payments and programmable assets (Runes, Lordinals).
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4. Yuga Labs has sold Moonbirds IP to gaming startup Orange Cap Games
Bored Ape Yacht Club developer Yuga Labs announces it has sold the intellectual property of the Moonbirds NFT project to gaming startup Orange Cap Games. The company previously launched the Pudgy Penguins-based card game Vibes TCG, deployed on the Ethereum Layer 2 network Abstract. The transaction amount has not been disclosed. This sale marks Yuga Labs' further divestiture of non-core NFT projects following the transfer of CryptoPunks and Meebits.
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5. The Czech Ministry of Justice faces criticism for selling 480 Bitcoins donated by a criminal, and its minister announced his resignation
Czech Justice Minister Pavel Blažek announced his resignation after the ministry he belonged to sold 480 Bitcoins (valued at about $45 million) donated by a drug dealer. After receiving the Bitcoins, the ministry immediately liquidated the amount and used the proceeds for a victims' compensation fund and prison facilities. This donation raised questions among opposition lawmakers about the legitimacy of accepting assets donated by former criminals. Additionally, the police have launched an investigation into the source of these Bitcoins and the ministry's acceptance of them.
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6. Wu Says Weekly Highlights: Ethereum Version of MicroStrategy Launches, Trump Media Group Raises $2.5 Billion for Bitcoin, Circle IPO and Top 10 News
This Week's Top 10 News
1. The U.S. government holds approximately $20.4 billion in Bitcoin and $493 million in other digital assets link
U.S. President Trump signed an executive order in March directing the Treasury to establish a 'strategic Bitcoin reserve' and 'U.S. digital asset reserve,' incorporating cryptocurrencies seized by the government through criminal or civil proceedings into the reserves, estimated to be worth over $21 billion. According to Chainalysis analysis, as of May 28, the U.S. government holds approximately $20.4 billion in Bitcoin and $493 million in other digital assets, primarily from criminal activities.
2. U.S. Vice President JD Vance: The number of Bitcoin holders in the U.S. may increase to 100 million link
At the Bitcoin 2025 conference held in Las Vegas, U.S. Vice President JD Vance delivered a speech emphasizing the growing importance of Bitcoin and digital assets in the U.S. economy and policy. He pointed out that the development of artificial intelligence will profoundly impact Bitcoin's future in both positive and negative ways, stating that Bitcoin can play a role in national economic strategy. Vance supports the (GENIUS Act), believing it is likely to promote the use of stablecoins in digital payments while enhancing market transparency and protecting user rights. He also reiterated that the current government is committed to abolishing the previous administration's unfavorable policies towards the crypto industry, stating that cryptocurrencies are a hedge against inflation and fiscal policy failures. Currently, about 50 million Americans hold Bitcoin, which is expected to grow to 100 million in the future. Vance mentioned that he personally holds a considerable amount of Bitcoin.
3. Trump Media (DJT) announces completion of $2.5 billion private financing, plans to establish a Bitcoin treasury link
Trump Media (DJT) has completed private agreements with approximately 50 institutional investors to issue about $1.5 billion in common stock and $1 billion in convertible bonds, with a total financing amount of approximately $2.5 billion, expected to close on May 29. The funds raised will primarily be used to establish a Bitcoin treasury. Cryptocom and Anchorage Digital will provide custody services for Trump Media's Bitcoin treasury.
4. Donald Trump Jr.: Family turns to cryptocurrency due to traditional financial limitations link
Donald Trump Jr. stated at the Las Vegas Bitcoin 2025 conference that his family's interest in cryptocurrency stems from the limitations of the traditional financial system. He revealed that after the end of Trump's first presidential term (2017-2021), family businesses were gradually denied services by banks and insurance companies due to political reasons, facing account closures and insurance refusals, prompting him and his brother Eric to encourage their father Trump to understand the potential of blockchain and change his view that Bitcoin was a scam in 2021.
5. SEC clarifies regulatory stance on staking agreements, some PoS activities do not constitute securities transactions link
The U.S. Securities and Exchange Commission (SEC) Division of Corporation Finance issued a statement saying that certain staking activities conducted on public, permissionless Proof of Stake (PoS) blockchain networks do not constitute securities transactions, applicable to both individual staking and institutional services providing non-custodial or custodial staking. The statement also noted that services with features such as risk reduction guarantees, early unlocking, reward payments, or asset aggregation do not automatically constitute securities issuance. The statement aims to provide regulatory clarity for staking participants and support compliant participation in network consensus mechanisms.
6. Circle submits listing application to the New York Stock Exchange link
Circle submits a listing application to the New York Stock Exchange, planning to issue 24 million Class A shares, of which 9.6 million shares are from the company and 14.4 million shares are from shareholders, with the expected share price between $24 and $26, trading under the ticker CRCL.
BlackRock plans to subscribe to about 10% of the shares issued in Circle Internet Group's proposed IPO. According to documents submitted to the U.S. Securities and Exchange Commission, Circle and some of its shareholders, including CEO Jeremy Allaire, plan to raise up to $624 million through this offering, with Ark Investment also interested in subscribing to up to $150 million of shares. The subscription multiple for Circle's IPO has exceeded the issuance size, with pricing expected to be determined on June 4.
7. Strategy announces it has acquired an additional 4,020 BTC link
Strategy announces it has acquired an additional 4,020 BTC at a cost of approximately $427 million, at an average price of $106,237 per coin, with an annual BTC investment return rate of 16.8%. As of May 25, Strategy holds a total of 580,250 BTC, with a total investment of approximately $40.61 billion and an average purchase price of $69,979.
8. Tether CEO: Tether holds over 100,000 Bitcoins and 50 tons of gold link
Tether CEO Paolo Ardoino stated at Bitcoin 2025 that Tether currently holds over 100,000 Bitcoins (worth over $10 billion) and 50 tons of gold. Tether achieved approximately $13 billion in profits in 2024. Ardoino emphasized that Tether's small gold holdings are not meant to compete with Bitcoin but serve as reserve assets against fiat currency.
In addition, Tether CEO Paolo Ardoino stated that despite the U.S. pushing for stablecoin legislation, Tether will still focus on overseas markets and pay attention to the impact of the (Genius Act) on foreign issuers. He revealed that the company is considering issuing stablecoins that comply with new regulations to attract institutional investors and is currently negotiating formal audits with the Big Four accounting firms, with the review still conducted by BDO Italy. Regarding the joint issuance of stablecoins by large banks, Ardoino stated that Tether's customer base consists of 3 billion people worldwide who are unbanked and is not worried about competition.
9. Google researcher: Quantum resources needed to break Bitcoin reduced by 20 times link
Google's quantum team latest research shows that the quantum resources needed to break RSA encryption supporting systems like Bitcoin wallets and bank accounts are 20 times less than previously estimated. Researcher Craig Gidney pointed out that in 2019, he estimated that 20 million 'noisy qubits' would be needed to factor a 2048-bit RSA number in 8 hours. However, according to the latest algorithms and error correction optimizations, now less than 1 million qubits may complete the same task in a week. Although Google is studying RSA encryption, the elliptic curve encryption (ECC) used by Bitcoin belongs to a similar mathematical structure. If RSA can be cracked by quantum computing in advance, the security timeline for ECC will also be significantly compressed.
10. SharpLink Gaming completes $425 million private financing, launching Ethereum financial strategy link
U.S. publicly listed company SharpLink today announced it has signed a securities purchase agreement for a $425 million public company private investment (PIPE), planning to issue approximately 69.1 million shares of common stock at a price of $6.15 per share. Consensys is the leading investor, and the transaction is expected to be completed on May 29. SharpLink plans to use the raised funds to purchase ETH as the company's main treasury reserve asset. After the transaction is completed, Ethereum co-founder and Consensys founder Joseph Lubin will serve as the chairman of SharpLink's board of directors and will assist the company in developing its core business as a strategic advisor.
Key financing events
Strive completes $750 million private equity financing, intended for Bitcoin purchases link
SharpLink Gaming completes $425 million private financing, launches Ethereum financial strategy link
Trump Media (DJT) announces completion of $2.5 billion private financing, plans to establish a Bitcoin treasury link
Matador completes approximately CAD 1.575 million private financing to support Bitcoin purchases link
WSJ: Telegram to finance $1.5 billion through bond trading link
K33 announces it has secured SEK 60 million in financing to launch Bitcoin funding strategy link
Stablecoin payment company Conduit announces completion of $36 million Series A financing link
Freysa AI's parent entity Eternis secures $30 million in financing, with FAI tokens invested by multiple parties link
Webus plans to raise up to $300 million to advance XRP cross-border payments and renew the cooperation agreement with Tongcheng Travel link
Donut Labs completes $7 million Pre-Seed round financing, led by Sequoia Capital, Bitkraft, and HackVC link
Spetz completes first round of private financing, raising $7.35 million to support Sonic ecosystem construction link
Bitcoin smart multi-signature wallet operator Asigna announces completion of $3 million financing link
Avalon Labs announces completion of strategic financing round, led by YZi Labs link
Oncade announces completion of $4 million financing link
Rumi completes $4.7 million Pre-Seed round financing link
Naoris Protocol announces completion of $3 million strategic round financing link
Stablecoin yield infrastructure project Hyperdrive announces completion of $6 million Series A financing link
Indian fintech startup Data Sutram announces completion of $9 million Series A financing link
Swedish health tech company H100 Group AB completes $2.2 million financing, with funds used for Bitcoin purchases link
More industry financing events can be found at crypto-fundraising.info.