Good Morning,

Here's a quick preview of today’s content: The crypto community reacts to Pump.fun’s fundraising plans, crypto family kidnapping in France charges dozens, Coinbase was withholding knowledge of data breach, crypto treasury strategies are the hottest thing, and so much more.

Hump Day Pump Day 📈 Let’s dive in.

Market Snapshot

  • During the day Bitcoin rose above $106,000, reflecting investor optimism following the Federal Reserve's recent indications of a potential shift towards more accommodative monetary policy

    • The total cryptocurrency market capitalization remained flat on the day at $3.46T

    • Leveraged liquidations reached $208M in the same time frame, according to CoinGlass

    • ETH accounted for approximately $54M, followed by BTC with around $50M

  • The Fed's dovish comments have temporarily boosted market risk appetite, but increased dollar volatility may disrupt capital allocation

Headline Roundup
The major headlines driving crypto markets

  • Coinbase reportedly knew about the $20M data breach in January, 3 months before disclosing (DT)

  • Solana ecosystem has bearish reaction to memecoin launchpad Pump.fun raising $1B via token sale at a $4B valuation (DF)

  • U.S. SEC releases 2025 guidance clarifying which tokens are classified as securities in new three-pronged approach – all the details here

  • Eric Trump announces that the Trump family has no affiliation with the Trump Wallet news (ET)

  • Ripple CEO Brad Garlinghouse says the firm never offered to acquire Circle at any valuation (TB)

  • Kraken Prime launched to provide institutional clients crypto trading services (TB)

  • Blackrock scoops up $95M of ETH after moving $560M BTC to Coinbase (DF)

  • Ethereum co-founder and Consensys CEO Joe Lubin says major global institutions are having discussions to build on the chain and buy ETH (DT)

  • $MARA ( ▲ 6.76% ) produced record 950 bitcoin in May, nearing 50k treasury (DT)

  • Public edtech firm $KIDZ ( ▲ 46.24% ) looks to raise $500M for SOL treasury (TB)

  • Norwegian Block Exchange stock jumps 140% after announcing 6 BTC purchase for treasury strategy (CT)

  • French firm Blockchain Group acquires 624 BTC via €60.2M raise (BM)

  • Norwegian firm K33 AB purchases 10 BTC to kick off treasury plans (BM)

  • Public Canadian firm $SUUN ( ▲ 1.33% ) to add a bitcoin treasury strategy (BM)

  • A Truth Social Bitcoin ETF was recently filed to NYSE Arca (TB)

  • French authorities charge 25 people, 6 being minors, in Paymium CEO family kidnapping (CD)

M&A Announcements

  • Hong-Kong based OSL Group expands globally with $15M investment for a 90% stake in Indonesian crypto exchange Evergreen Crest (TB)

Venture Capital

  • Noteus Partners and Sofina lead $175M investment into German fintech Scalable Capital (SC)

  • Avantis, a derivatives trading platform on Base chain, raises $8M Series A led by Peter Thiel’s Founders Fund and Pantera Capital (TB)

  • Tether makes strategic investment into OrionX to develop digital asset trading Latin America (CS)

Launches

  • Hedera ETP launched on Euronext by 21Shares ahead of U.S. ETF decision (CN)

  • UK-regulated stablecoin, Tokenised GBP, announced by FCA-registered firm (CD)

Regulation

  • The United States Senate is being pressured by President Trump to swiftly pass tax and budget bill alongside pro-crypto legislation (BW)

  • Hedera writes official letter to SEC crypto task force about Safe Harbor from registration (SG)

  • Dubai regulator authorizes Ripple’s RLUSD stablecoin (TB)

  • A change in Nigeria’s crypto regulations bring Blockchain.com into the country (CG)

Cybersecurity

  • Breach of 70,000+ Coinbase users’ personal data calls for KYC concerns (CT)

  • Australian regulator AUSTRAC steps in to fight crypto ATM fraud and scams (DT)

Extra Reads

Chart of the Day

Total crypto deal activity is nearing 2021/2022 levels, with M&A leading the charge in 2025

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