Good Morning,

Here's a quick preview of today’s content: Today is Day 1 of The Bitcoin Conference 2025 in Las Vegas, Coinbase hit by class action, public companies are making bitcoin their entire personality, Sui is committing to a more secure network, a man was held captive for weeks for his crypto, and so much more.

We hope everyone had a relaxing 3 day Memorial Day Weekend!

So much market-moving news to come this week 📈 Let’s dive in

Market Snapshot

• Bitcoin rebounded to just under $110,000 after a weekend sell-off caused by President Trump's tariff threats on the EU

  • Trump extended the deadline for the proposed 50% tariffs on European imports to July 9

• A temporary easing in trade tensions helped fuel the recovery, with U.S. and European index futures moving higher

• Cardano’s ADA and Dogecoin led gains among top tokens, reflecting broader relief across global risk assets

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

• Polygon co-founder Mihailo Bjelic leaves the firm saying he can ‘no longer give his best’ (CP)

• A class action lawsuit has been filed against Coinbase over recent data leak - a breakdown of the massive lawsuit here

• US judge determined that NY prosecutors had no proper venue to convict Avraham Eisenberg of fraud for his exploit of DeFi trading platform Mango Markets (TB)

• Tom Brady joins A16Z and others in Catena’s $18M fundraise for AI x crypto play (DT)

• World Liberty Financial co-founder denies allegations of Binance’s CZ ties (TB)

• Canary Capital’s filing for staked Tron ETF acknowledged by SEC (TB)

• Axion trading platform has generated $100M in fees in 4 months of operating (TB)

• Saylor’s Strategy makes massive 4,020 BTC purchase near all-time highs (BL)

• Semler Scientific continues crypto buying with $50M bitcoin purchase (BM)

• Public company DayDayCook ($DDC ( ▲ 16.07% ) ) sees shares drop as the firm buys 21 BTC to kickoff 5,000 BTC acquisition plan (DF)

• The German Government missed out on $2.7B profit from selling 50k seized bitcoin at average price below $60k (DF)

• Gondi emerges as the most dominant player in NFT lending market (BL)

• Binance delisting leads to Alpaca Finance winding down operations (TB)

• DeLorean Labs is working with actor Sir Patrick Stewart to promote DeLorean electric car (BW)

• Ledn goes all in on bitcoin as the firm drops eth-backed loan capabilities (TB)

• Australian Senator Gerard Rennick calls bitcoin a ponzi scheme because ‘it cannot be eaten’ (DT)

• Kalshi integrated Solana deposits for the predictions market platform (BiC)

Venture Capital

• Arrington Capital and Hack VC co-lead $6M Series A for stablecoin yield startup Hyperdrive (BN)

• Coinbase Ventures and Side Door Ventures invest in Stablecorp’s $1.8M financing round (AI)

• Mirage Protocol raises $1.6M from Robot Ventures, Echo, and others ahead of mainnet launch (BI)

• Solana DEX Fermi Labs completes $1.2M pre-seed round led by Equilibrium and Big Brain Holdings (PA)

• Avalon Labs‘ token jumps 15% after backing from Yzi Labs (formerly Binance Labs) (CN)

• Hyperion brings on Arthur Hayes’ family office as a strategic investor alongside OKX Ventures for global DEX operations (HN)

• Founders Fund backs stablecoin project Plasma with strategic capital for global expansion (AI)

Launches

• Binance Square is launching a live streaming product for crypto trading education (CD)

• The largest bank in Europe launches Hong Kong’s first blockchain settlement service (DF)

• Exodus launches in-app crypto buy & sell tool, XO Pay (BM)

• Jippi to debut bitcoin educational AR game at the Bitcoin Conference in Las Vegas (BM)

Regulation

• 4 pro-crypto bills have been introduced by lawmakers in Michigan (CT)

Cybersecurity

• New York man arrested for kidnapping and torturing Italian man for crypto belongings (AP)

• Sui commits $10M to network security following last week’s Cetus hack (CG)

• Cetus offered $6M bounty to the hacker behind $220M exploit (CT)

• A trader just lost $2.6M USDT across two transactions due to poisoning attacks (CT)

• American man sentenced to 6 years for laundering $1M+ for scammers into bitcoin (DT)

Extra Reads

• Sam Bankman-Fried may receive over four-year sentence reduction - a breakdown of how he might be getting off easy

• Animoca Brands co-founder and Chair Yat Siu has been focused on blockchain gaming investment and development since as early as 2018 - here’s why they think crypto gaming could make a comeback

Chart of the Day

The United States has emerged as the global bitcoin leader - here’s a visual why

Upcoming Events

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