Golden Finance – Addentax Group Corp (NASDAQ: ATXG) is in preliminary talks to acquire up to 8,000 Bitcoin and other cryptocurrencies, including TRUMP tokens, in a deal valued at approximately $800 million. The Nasdaq-listed company plans to fund the purchase through a common stock issuance, though no final agreement has been reached. Management stated the move aligns with its long-term strategy to bolster its balance sheet with “highly liquid, widely recognized digital assets” and attract crypto-savvy shareholders.
SEC Probes Coinbase Over User Metrics Amid Dropped Lawsuit
The New York Times – The U.S. Securities and Exchange Commission (SEC) has launched an investigation into whether Coinbase (NASDAQ: COIN) misreported its user numbers in past disclosures, per four sources familiar with the matter. The probe, initiated under the Biden administration, continues despite the SEC recently dropping a separate lawsuit accusing the exchange of illegally promoting digital assets. Coinbase had claimed over 100 million “verified users” in 2021 filings but ceased citing the metric by 2023. The company retains legal counsel from Davy Law Firm and remains in dialogue with regulators.
Wisconsin Divests $321M Bitcoin ETF Holdings, SEC Filings Show
Golden Finance – The Wisconsin State Investment Commission has exited its $321 million position in Bitcoin ETFs, per SEC documents. The move comes amid volatile inflows into spot Bitcoin ETFs, which saw record investments earlier this month.
Coinbase Faces $400M Loss Estimate Following Data Breach
Golden Finance – Coinbase (NASDAQ: COIN) estimates losses up to $400 million due to a data breach that allowed hackers to access customer information since January 2025.
PayPal, MoneyGram Execs: Stablecoin Rules Will Spark “Issuance Boom”
Consensus 2025 – PayPal’s Jose Fernandez da Ponte and MoneyGram’s Anthony Soohoo predict U.S. stablecoin legislation will unlock “huge potential” by addressing trust and scalability. Fernandez da Ponte emphasized metrics like transaction volume, while Soohoo noted stablecoins’ appeal in high-inflation economies. Both expect market consolidation post-regulation, with “neither 300 nor just two” stablecoins surviving.
Ethereum Co-Founder: ETH Could Surpass Bitcoin in Market Cap
Consensus 2025 – Ethereum co-founder Anthony Di Iorio stated ETH was designed as a “Bitcoin alternative,” not a competitor, citing its expanding use cases. “With the value Ethereum creates, it has the opportunity to eventually overtake Bitcoin,” he said, reflecting on ETH’s origins at a 2012 Toronto Bitcoin meetup.
BlackRock’s BUIDL Tokenized Fund Integrates With Avalanche’s Euler Protocol
Golden Finance – BlackRock’s $3 billion tokenized Treasury fund, BUIDL, has integrated with Avalanche’s Euler protocol via Securitize’s sToken framework. The move enables sBUIDL holders to collateralize loans in USDC or AUSD while earning AVAX rewards and underlying BUIDL yields.
Tornado Cash Co-Founder’s Trial Narrows as DOJ Drops Some Charges
Golden Finance – Tornado Cash co-founder Roman Storm will face trial on July 14 for money laundering and sanctions violations, though the DOJ dropped charges tied to “unlicensed fund transfers.” Advocacy groups like Coin Center criticized the move, calling the legal interpretation “ambiguous.”
Soros Fund Bets on AST SpaceMobile, Nvidia; Exits AMD
Golden Finance – George Soros’ investment fund disclosed major stakes in AST SpaceMobile (NASDAQ: ASTS) and Nvidia (NASDAQ: NVDA) in its 13F filing, while divesting from AMD and other tech giants. The fund also revealed new positions in JPMorgan and Bitcoin miner Cipher Mining (NASDAQ: CIFR).
Senate to Vote on Stablecoin Bill With Fed Oversight, Tech Curbs
Golden Finance – Senate Majority Leader John Thune advanced the GENIUS Act to a May 19 vote, proposing Fed oversight for stablecoin issuers with $10B+ assets and state-level rules for smaller firms. Amendments include stricter tech-company regulations and consumer protections. If passed, it would mark the first federal stablecoin framework.
Wintermute Suspected as Market Maker for $10M MIRAI Token Move
Golden Finance – Blockchain tracker Lookonchain flagged a Wintermute-linked address receiving $10 million worth of MIRAI tokens, suggesting a market-making role.
Saudi Central Bank Discloses Crypto Strategy Holdings
Cointelegraph – Saudi Arabia’s central bank revealed investments in an undisclosed crypto strategy, per a regulatory filing.
Related Topics:
- Cryptocurrency Market Dynamics: XRP rises, MIND of Pepe attracts much attention
- Shiba Inu Coin (SHIB) Rises, SUBDD presale Heats up, New Trends Emerge in the Crypto Market
- Coinbase’s pullback on the gains of its acquisition options trading platform Deribit fell short of market expectations in the first quarter
