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Hi Investors,

 

The week of May 26 – June 1 was marked by Circle’s IPO filing, a major shift in staking regulation, and bold crypto treasury moves by institutions and governments alike. Here’s a quick snapshot of what mattered most:

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Circle officially launches IPO with increased size and pricing at ~$7.2Bn fully diluted valuation target

→ Bloomberg

U.S. SEC greenlights protocol staking & staking-based ETFs

→ Cointelegraph

Yuga Labs sells Moonbirds NFT IP to gaming startup Orange Cap Games

→ Cointelegraph

MetaMask wallet adds support for Solana blockchain

→ The Block

Cantor Fitzgerald to launch gold protected Bitcoin fund

→ Businesswire

Trump Media raises $2.5Bn to create Bitcoin reserve

→ MSN.com

 

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Circle_Logo

Files for IPO on NYSE

→ Coindesk

Paid $100MM for Hashnote in equity

→ The Block

BlackRock to buy 10% stake, Ark up to $150 million

→ Bloomberg

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Class action lawsuit re: data breach

→ The Block

Base contract deployments hit 5M in one day

→ Nansen via X

Releases CDP wallets with full control

→ The Block

etoro

Adds 12 tokens to U.S. platform

→ Decrypt

Zenrock Logo Penn Blue  - Horizontal Lockup

Minting zenBTC on Solana goes live

→ LinkedIn

Releases DCT litepaper

→ Zenrock via X

5
  • Jito now holds ~70% of market share for Solana LSTs
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  • Circle’s CCTP is the largest cross-chain bridge (~50% market share)
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  • PYUSD transfer volume grew ~5x YoY
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  • Polymarket May volume ~$1B (vs. $63M a year ago)
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4-2

Conduit (Stablecoin Payments) – Raises $36MM Series A

→ Fortune

5-2

Bitcoin

  • Cantor closes first BTC financing deal

→ The Block

  • Pakistan forming BTC reserve

→ The Block

  • Gamestop launches BTC treasury

→ The Block

  • Paris Saint-Germain announces BTC treasury

→ The Block

  • Twenty One Capital raises total financing to $685MM

→ The Block

 

ETFs

  • REX + Osprey file for staking ETH & SOL ETFs

→ SEC Filing

 

Exchanges

  • Bybit granted MiCA license in Austria

→ Coindesk

  • SEC drops Binance case

→ Eleanor Terrett via X

 

Regulation

  • SEC says it won’t protect meme coins

→ CNBC

 

RWAs

  • Bergen County to tokenize $240Bn in real estate deeds

→ NJBIZ

7
  • 6/3-6/5: Money 20/20 Europe (Amsterdam)
  • 6/4: US House Financial Services Committee holding a hearing on “American Innovation and the Future of Digital Assets”
  • 6/4-6/6: Non Fungible Conference (Lisbon)
  • 6/6: SEC Crypto Task Force roundtable on “DeFi and the American Spirit”
👀 50Tweet of the Week - Josh Siegler – Three Thursday Theses (BTC Edition)
📝 Research Piece of the Week - Stablecoin Payments from the Ground Up
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