Together with

Good Morning,

Here's a quick preview of today’s content: Charles Hoskinson is being audited, Justin Sun plans his White House visit, Blackstone hops in on crypto investing, El Salvador has a crazy unrealized profit from Bitcoin, a CEO believes people are going to die from Coinbase issues, Argentina President Milei has a new tactic to stay innocent, and so much more.

Hump Day Pump Day. Let’s dive in.

Market Snapshot

• The price of Bitcoin rose to $107,000 on Tuesday, with some trackers showing even higher daily peaks

  • At that mark, Bitcoin is less than 2% down from its all-time high price set back in January

• Risk-on assets like altcoins have rebounded significantly in recent weeks as President Trump's trade war cools off

Headline Roundup
^{_{The major headlines driving crypto markets}}

• An official audit is underway as Cardano founder Charles Hoskinson has been accused of misappropriating 300M tokens (DF)

• Blackstone discloses $1M position in Blackrock’s IBIT, the first crypto investment for the world’s largest alternative asset manager (BL)

• Saylor’s Strategy was slapped with a class action lawsuit - read full details here

• The United States has become the bitcoin owning powerhouse, holding nearly 40% of the circulating supply (BM)

• DCG and key executives sued by Genesis over asset transfer and fraud accusations (DT)

• Binance asks Delaware judge to dismiss $1.76B clawback clause in FTX suit (DT)

• Justin Sun reveals he is a top holder and is headed to the White House for TRUMP holder invitation (DT)

• Bitcoin ETFs have second best day this month pulling in $350M (DT)

• President Nayib Bukele reveals El Salvador’s bitcoin portfolio has a $357M unrealized profit (DF)

• Uniswap is being sued by Bancor over DEX smart contract technology patent (TB)

• Most young Americans favor the country to shift part of its reserves strategy from gold to BTC (DF)

• Nasdaq-listed DigiAsia ($FAAS ( ▲ 27.39% ) ) is the latest corporation raising $100M to purchase bitcoin (TB)

• Axie Infinity and Sky Mavis founder alleges Seed Go game for IP copyright infringement (BW)

• NFT project Pudgy Penguins takes step into the world of childrens’ books (DF)

• KuCoin partnership with AEON enhances point-of-sale innovation and crypto adoption (CD)

• Microsoft onboards 'Space & Time' for real time data via blockchain (TB)

• The Floki Minibot is being tokenized by TokenFi (CD)

• Bitcoin miner manufacturer reveals latest tech including ASIC chips, cooling systems, and modular megawatt containers (BM)

• Former Ethereum advocate turns to Solana development company Anza for his on-chainn future (TB)

Bitcoin 2025 hits Las Vegas on May 27-29!

Bitcoin 2025 is coming to Las Vegas, May 27–29, and it’s your chance to connect with the brightest minds in Bitcoin, tech, and finance. With 30,000+ attendees, world-class speakers, and the largest Bitcoin Expo Hall in the world, it’s the ultimate event for anyone passionate about the future of money and technology.

Hear from a range of leaders like U.S. Vice President JD Vance, freedom fighter Ross Ulbricht, and The White House AI and Crypto Czar David Sacks -  plus many more. The energy continues after hours with exclusive networking and unforgettable after-parties across the Vegas Strip.

EXCLUSIVE for subscribers: Get 30% off with code BULLISH30

🎟️ Grab your pass now → https://bm.b.tc/BULLISH30 

Venture Capital

• Goodwater Capital leads $41M Series B for scaling fintech company Slash (AI)

• Former Circle co-CEO raises $18M from a16z crypto, CoinFund, Circle Ventures, and other top crypto VCs for AI-native financial institution startup Catena (PY)

• Accomplice and RRE Ventures co-lead True Market’s $11M Series A for a mobile-first trading app on Solana (CD)

• Liquid bitcoin staking solution Rover closes $4.1M seed round from Bloccelerate, CMS Holdings, Animoca, and other investors (TB)

• TON high-frequency trading startup Tradoor reels in $3.2M from TON Ventures and Kenetic Capital (AI)

• Developer of privacy tool, Payjoin receives $100k grant from Maelstrom (CT)

• MN Capital backs Bitlayer in undisclosed funding round (CH)

Launches

• XRP debut on CME outperforms SOL initial trading day by nearly 33% with $19M volume (TB)

Regulation

• The Texas Strategic Bitcoin Treasury solely awaits governor approval to be established (DF)

• New York Mayor Eric Adams makes bullish move creating a digital asset advisory group for the city (DT)

• Regulated crypto derivatives compliant with MiFIDII laws arrive in Europe via Kraken (CD)

Cybersecurity

• People will die as a result of the Coinbase data breach according to the TechCrunch CEO (DT)

• Argentina President Milei shuts down investigation against himself in LIBRA scandal (BL)

• Famous South Korean actress dropped from show and brands after admitting to embezzling $3M+ of funds into crypto (DT)

Extra Reads

• PayPal’s SVP of Blockchain, Crypto and Digital Currencies Jose Fernandez da Ponte breaks down PayPal’s overall crypto strategy and vision for the future of payments - read the game plan here
  

• Coinbase was hacked on May 11, exposing sensitive personal data of around one million investors - how to protect your crypto after the Coinbase hack

Chart of the Day

El Salvador has more than doubled their Bitcoin investment with 124% return in just 3 years

Meme Dump

Pls send us crypto memes to be featured in the newsletter 🤝

🐦 Follow Us: Visit our X account for constant updates on all things web3, DeFi, and crypto.

💵 Litquidity Ventures: Accredited investors & qualified purchasers within the Litquidity community can gain access to alternative investments such as venture, late-stage growth, and private equity through Litquidity Ventures. Interested? Fill out this form.

☎️ Book a call with Lit: Want to pick Litquidity’s brain on business advice, insights, or just chat to say what’s up? Buy his time here.

📧 Launch your own newsletter: Have great content ideas and looking to launch your own publication? We highly recommend Beehiiv to get started.