The Blockchain Group, a European Bitcoin Treasury Company, has raised about €63. 3 million via BTC-backed convertible bonds, aiming to increase Bitcoin per share. Investors Moonlight Capital, Fulgur Ventures, and UTXO Management participated. Bonds, convertible to Bitcoin or euros, will enable TBG to add roughly 590 BTC, bringing total reserves to approximately 1, 437 BTC. Most proceeds will fund Bitcoin acquisition, underscoring TBG’s focus on a Bitcoin-centric investment strategy. Alpaca Finance has announced it will wind down operations and sunset products such as leveraged yield farming and Automated Vaults, due to increased competition in DeFi and falling revenues. Following a crypto downturn, reduced Total Value Locked (TVL), and Binance delisting, Alpaca plans a structured sunset process, urging users to close positions by deadlines to securely manage assets. Last week, crypto investment products saw $3. 3 billion in inflows, raising the year-to-date total to $10. 5 billion. Bitcoin and Ethereum drove most inflows, with Bitcoin alone contributing about $2. 9 billion. Total assets under management reached a record $187. 5 billion, led by $3. 2 billion from the US. In contrast, XRP had its largest-ever outflows, ending an 80-week inflow streak. Blockstream CEO Adam Back spearheaded a $2. 2 million funding round for H100 Group via 0% interest convertible loans to buy Bitcoin. Back personally contributed about $1. 4 million, with the rest from investment firms. This increase raises H100’s holding to around 24. 57 BTC, making it among Sweden and Europe’s first public companies to adopt a Bitcoin treasury strategy. Ledn, a centralized crypto lender, is shifting exclusively to bitcoin-collateralized lending, discontinuing Ethereum services and bitcoin yield generation. Effective July 1, it will cease lending client assets, minimizing third-party credit risk, and offer only a “Custodied Bitcoin” loan structure where clients retain full collateral custody. The shift aims to return to Bitcoin fundamentals and reduce lending risks. The SEC has accepted Canary Capital’s filing for a staked Tron (TRX) ETF via the Cboe BZX Exchange, inviting public comments. Meanwhile, decisions on other crypto ETF proposals from Bitwise, Coinshares, and Fidelity remain delayed. Bitgo is named custodian for the proposed TRX ETF. Strategy (Nasdaq: MSTR; STRK; STRF) announced a $2. 1 billion at-the-market offering of its 10. 00% Series A Perpetual Preferred Stock. Shares will be sold over time depending on market conditions, with proceeds planned for general corporate use, including Bitcoin purchases and working capital.

The sale complies with US securities laws per an SEC-filed prospectus supplement. US President Donald Trump faces legal challenges and protests over a $TRUMP meme coin dinner at Trump National Golf Club, which invites its top 220 holders. Critics, including Senator Richard Blumenthal, accuse the event of corruption and potential foreign influence due to opaque attendee identities. Representative Maxine Waters introduced legislation to limit senior officials’ crypto involvement, aiming to prevent similar incidents. SafeMoon CEO Braden John Karony was found guilty by a federal jury on multiple fraud charges, potentially facing up to 45 years in prison. The charges relate to defrauding investors of millions by misusing funds from SafeMoon’s liquidity pool. Although SafeMoon, launched in 2021, included a 10% transfer tax intended for liquidity, Karony and associates diverted these funds for personal benefit and profited by trading the token illicitly. Binance will list World Liberty Financial USD (USD1) and open USD1/USDT trading on May 22, 2025, at 12:00 UTC. Deposits for USD1 are now available, with withdrawals starting May 23. USD1 is a fiat-backed stablecoin designed for 1:1 US dollar parity and complies with US regulations via BitGo Trust Company custody. Texas is set to become the third US state to form a strategic Bitcoin reserve after Senate Bill 21’s passage. Texas Blockchain Council President Lee Bratcher expects Governor Greg Abbott to sign it, aligning Texas with states like New Hampshire and Arizona in integrating Bitcoin into state financial planning. Initial investments will be modest and fiscally conservative. The US SEC charged Unicoin and three executives, including CEO Alex Konanykhin, with fraud stemming from false statements related to crypto assets and improper fundraising of $100 million. Allegations involve misleading claims about token and stock rights certificates and inflated real estate valuations. The SEC seeks permanent injunctions and recovery of illicit proceeds. CME Group launched XRP futures, generating over $19 million in notional volume on the first day, surpassing initial Solana futures volume. These are CME’s fourth crypto futures product after BTC, ETH, and SOL, offered in two sizes and cash-settled against the CME CF XRP-Dollar Reference Rate. This expands CME’s regulated crypto derivatives offerings to support investor trading and hedging. According to Standard Chartered Bank, sovereign entities are increasing indirect Bitcoin exposure by buying shares in Strategy (MSTR), reflecting a shift away from direct Bitcoin ETFs. This trend supports the bank’s projection of Bitcoin reaching $500, 000 before the end of Donald Trump’s presidential term in 2029, anticipating broader institutional adoption and market stabilization. In the SafeMoon fraud trial, the defense argued Karony’s use of liquidity pool funds matched public communications and business needs, with witnesses testifying such spending was expected for operations. Prosecutors countered by noting significant price declines following disclosures of the withdrawals, challenging the defense’s justification.