1. Data: The total market capitalization of stablecoins has surpassed $250 billion, setting a new record
The total market capitalization of stablecoins has surpassed $250 billion, setting a new record. Currently reaching $250,056,831,216. Tether (USDT) has a market cap of over $153 billion, accounting for about 61.2%, ranking first; USDC has a market cap of over $61 billion, ranking second.
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2. SEC Commissioner Peirce: $TRUMP and other Meme coins are not under SEC supervision
SEC commissioner Hester Peirce stated that $TRUMP coin is not under 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 this year 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 created in 2011. The network is built on BitcoinOS and Polygon CDK and is supported by the Litecoin Foundation. Lunar Digital Assets stated that LitVM will help Litecoin expand into DeFi and Web3 ecosystems, providing on-chain use cases such as stablecoin payments, programmable assets (Runes, Lordinals), and more.
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4. Yuga Labs has sold the Moonbirds IP to game startup Orange Cap Games
Bored Ape Yacht Club developer Yuga Labs announces it has sold the intellectual property of the Moonbirds NFT project to game startup Orange Cap Games. The company previously launched a card game Vibes TCG based on Pudgy Penguins, 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 after transferring CryptoPunks and Meebits.
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5. The Czech Justice Ministry faces criticism for selling 480 Bitcoins donated by a criminal, and its minister announces resignation
Czech Justice Minister Pavel Blažek announced his resignation after his ministry sold 480 Bitcoins (worth about $45 million) donated by a drug dealer. After receiving the Bitcoins, the ministry immediately liquidated the funds and used the proceeds for a victim compensation fund and prison equipment. This donation has 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 circumstances under which the ministry accepted them.
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6. Wu Says Weekly Highlights: Ethereum Version of MicroStrategy Launches, Trump Media Group Raises $2.5 Billion to Buy Bitcoin, Circle IPO and News Top 10
Top 10 news of the week
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 procedures into the reserve, 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 affect the future of Bitcoin in both positive and negative ways, and stated that Bitcoin can play a role in national economic strategy. Vance supports the (GENIUS Act), believing that the bill is expected to promote the application of stablecoins in digital payments while enhancing market transparency and protecting user rights. He also reiterated that the current government will work to abolish the previous government's unfavorable policies toward the crypto industry, calling cryptocurrency a hedge against inflation and fiscal policy mistakes. Currently, about 50 million Americans hold Bitcoin, and this number is expected to grow to 100 million in the future. Vance stated that he himself also holds a considerable amount of Bitcoin.
3. Trump Media (DJT) announces completion of $2.5 billion private financing, plans to establish a Bitcoin vault link
Trump Media (DJT) has completed private agreements with about 50 institutional investors, planning to issue approximately $1.5 billion in common stock and $1 billion in convertible bonds, with total financing of approximately $2.5 billion, expected to close on May 29. The funds raised will primarily be used to establish a Bitcoin vault. Cryptocom and Anchorage Digital will provide custody services for Trump Media's Bitcoin vault.
4. Donald Trump Jr.: The family turns to cryptocurrency due to traditional financial restrictions link
Donald Trump Jr. stated at the Bitcoin 2025 conference in Las Vegas that his family's interest in cryptocurrency stems from the restrictions of the traditional financial system. He revealed that after the end of Trump's first presidential term (2017-2021), the family business faced account closures and insurance refusals from banks and insurance companies for political reasons, prompting him and his brother Eric to help their father Trump understand the potential of blockchain and change his 2021 view that Bitcoin was a scam.
5. SEC clarifies stance on protocol staking regulation, some PoS activities do not constitute securities transactions link
The U.S. Securities and Exchange Commission (SEC) Corporate Finance Division issued a statement stating that certain protocol staking activities conducted on public, permissionless proof-of-stake (PoS) blockchain networks do not constitute securities transactions, applicable to individual staking and institutions providing non-custodial or custodial staking services. The statement also noted that services with accompanying features such as risk reduction guarantees, early unlocking, reward payments, or asset aggregation do not automatically constitute securities issuance. This statement aims to provide regulatory clarity for staking participants and support compliant participation in network consensus mechanisms.
6. Circle has submitted a listing application to the New York Stock Exchange link
Circle has submitted 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 code CRCL.
BlackRock plans to subscribe for about 10% of the shares 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, aim to raise up to $624 million through this offering, with Ark Investment also interested in subscribing for up to $150 million in shares. The subscription multiple for Circle's IPO has exceeded the offering 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 about $427 million, with an average price of $106,237 per coin, achieving a 16.8% return on BTC investments this year. As of May 25, Strategy holds a total of 580,250 BTC, with a total investment of about $40.61 billion, with 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 the Bitcoin 2025 conference that Tether currently holds over 100,000 Bitcoins (worth over $10 billion) and 50 tons of gold. Tether achieved approximately $13 billion in profit in 2024. Ardoino emphasized that Tether holds a small amount of gold not to compete with Bitcoin, but as a reserve asset against fiat currency.
Additionally, Tether CEO Paolo Ardoino stated that despite the U.S. pushing for stablecoin legislation, Tether will still focus on overseas markets and monitor 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 in discussions with the Big Four accounting firms for formal audits, with the review still being handled by BDO Italy. Regarding the plan for large banks to jointly issue stablecoins, Ardoino stated that Tether's customer base consists of 3 billion people worldwide who are unbanked, and it is not concerned about competition.
9. Google researcher: Quantum resources needed to crack Bitcoin reduced by 20 times link
Google's quantum team latest research shows that the quantum resources needed to crack RSA encryption supporting Bitcoin wallets and bank accounts have been reduced by 20 times compared to previous estimates. Researcher Craig Gidney pointed out that in 2019, he estimated that 20 million 'noisy qubits' would be needed to factor 2048-bit RSA within 8 hours. According to the latest algorithms and error correction optimizations, now less than 1 million qubits and a week’s time may complete the same task. Although Google is researching RSA encryption, the elliptic curve encryption (ECC) used by Bitcoin falls under a similar mathematical structure. If RSA can be cracked early by quantum computing, the security timeline for ECC will also be significantly shortened.
10. SharpLink Gaming completes $425 million private financing, launching Ethereum financial strategy link
SharpLink, a U.S.-listed company, announced today that 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 lead 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 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 purchasing Bitcoin link
SharpLink Gaming completes $425 million private financing, launching Ethereum financial strategy link
Trump Media (DJT) announces completion of $2.5 billion private financing, plans to establish a Bitcoin vault link
Matador completes approximately CAD 1.575 million in private financing to support Bitcoin purchases link
WSJ: Telegram to finance $1.5 billion through bond trading link
K33 announces it has secured 60 million Swedish Krona in financing, aimed at initiating Bitcoin funding strategy link
Stablecoin payment company Conduit announces completion of $36 million Series A financing link
Freysa AI's backing entity Eternis secures $30 million in financing, with FAI tokens being invested by multiple parties link
Webus plans to raise up to $300 million to advance XRP cross-border payments and renew 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 development 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, funds will be used to purchase Bitcoin link
More industry financing events can be found at crypto-fundraising.info.