Today's news highlights:
Senator Lummis: Trump supports the bill to purchase 1 million BTC.
BlackRock: Recommends allocating 2% of the portfolio to Bitcoin.
David Sacks: Blockchain, Bitcoin, and cryptocurrencies are the future of the financial system.
Binance HODLer airdrop launches Sophon (SOPH).
KernelDAO and WLFI reach cooperation, using USD1 as a re-stakable asset.
A whale withdrew 1,200 BTC from Binance, worth 130.6 million USD.
WalletConnect project-related address transferred 2.5 million WCT to Binance, worth 2.34 million USD.
Bitcoin spot ETFs saw a total net inflow of 385 million USD yesterday, continuing a 9-day net inflow streak.
Regulation/Macro
Square is trialing real-time Bitcoin payments in Las Vegas, planning to fully open to customers in 2026.
According to CoinDesk, Jack Dorsey's payment company Square launched a Bitcoin Lightning Network payment pilot during the Bitcoin 2025 conference in Las Vegas. Attendees can use Bitcoin for real-time settlement by scanning a barcode, with exchange rate conversion and transaction confirmation processed automatically by the Square system. Miles Suter, the Bitcoin product lead at Square's parent company Block, stated that the feature is planned to expand the testing scope within this year and open to all users in 2026 (pending regulatory approval). The company claims this move aims to build an 'open, decentralized, low-cost' payment system.
Senator Lummis: Trump supports the bill to purchase 1 million BTC.
According to Cointelegraph, Wyoming Senator Cynthia Lummis revealed at the 'Bitcoin 2025' conference that President Trump supports the (BITCOIN bill), which requires the U.S. government to purchase 1 million BTC within five years, with funding coming from the existing reserves of the Federal Reserve and the Treasury. The White House has formed an expert team to advance digital asset legislation, including stablecoins, market structure, and Bitcoin strategic reserves, which is expected to be rolled out in that order. Lummis stated that the Senate Banking Committee has passed the stablecoin bill and is expected to undergo a full vote within a week after reconvening, following negotiations with the minority party. Trump's chief crypto advisor David Sacks previously stated that the (GENIUS stablecoin bill) is expected to receive bipartisan support and pass after a procedural vote on May 19 with a result of 66:32.
Opinion
BlackRock: Recommends allocating 2% of the portfolio to Bitcoin.
According to Crypto Rover, a spokesperson for asset management company BlackRock stated at the Bitcoin 2025 conference that it is recommended to allocate 2% of the portfolio to Bitcoin.
Analysis: Bitcoin's current open interest seems to be stabilizing, with some traders possibly taking profits to re-enter during a price pullback.
According to Matrixport analysis, Bitcoin open interest has significantly increased since the April low, while Solana has weakened due to the cooling of meme coins and the Pump.fun craze. The analysis suggests that this growth may reflect a shift in the market towards a higher risk appetite, especially after Trump's recent tariff policy adjustments, with Bitcoin continuing to embody the dual attributes of a risk asset and a safe-haven asset, increasingly seen as 'digital gold.' However, current open interest seems to be stabilizing, indicating that some traders may be taking profits and planning to re-enter when prices pull back.
Michael Saylor: When Wall Street holds 10% of Bitcoin, the price will reach one million USD.
According to Cointelegraph, Strategy (formerly MicroStrategy) board chairman Michael Saylor stated at the Bitcoin 2025 conference: 'When Wall Street holds 10% of Bitcoin, the price of Bitcoin will reach one million USD.'
BlackRock executives: Bitcoin has greater upside potential than gold and less downside risk.
According to Cointelegraph, Robert Mitchnick, head of digital assets at BlackRock, stated at the Bitcoin 2025 conference: 'Bitcoin has greater upside potential than gold and less downside risk.'
David Sacks: Blockchain, Bitcoin, and cryptocurrencies are the future of the financial system.
David Sacks, the U.S. White House cryptocurrency and AI director, known as the 'Crypto Tsar', stated at the Bitcoin 2025 conference: 'We believe that blockchain, Bitcoin, and cryptocurrencies are the future financial system.'
glassnode: The activity of BTC long-term holders has increased, with a transfer amount of 4.02 billion USD from the 1-5 year holding group.
According to glassnode data, the activity of long-term Bitcoin holders has recently increased significantly, with the total transfer amount from the 1-5 year holding group reaching 4.02 billion USD, the highest level since February this year. Among them, the 3-5 year holding group contributed 2.16 billion USD, the second highest in this cycle, only behind the 6 billion USD recorded in March 2024; the 2-3 year holding group contributed 1.41 billion USD; and the 1-2 year holding group contributed 450 million USD. The transfer activity of the 1-5 year holding group is the fifth largest peak in this cycle, mainly driven by long-term holders. Reviewing other transfer peaks in this cycle: 9.25 billion USD in October 2024 (dominated by the 1-2 year group), 6.11 billion USD in March 2024 (dominated by the 2-3 year group), 5.42 billion USD in February 2025 (dominated by the 2-3 year group), and 4.39 billion USD in November 2024 (dominated by the 3-5 year group). The current activity indicates that long-term holders are accelerating the release of their Bitcoin holdings.
Project dynamics
Binance will launch Vaulta (A) perpetual contracts, supporting up to 75x leverage.
Binance contracts will launch Vaulta (A) perpetual contracts at 16:00 on May 28, 2025, supporting up to 75x leverage. Previously, WLFi invested 6 million USD to acquire Vaulta (originally EOS) tokens.
Binance HODLer airdrop launches Sophon (SOPH).
Binance announced that Sophon (SOPH) has become the 20th project on the HODLer Airdrops page. Previously, between May 14, 2025, 00:00 and May 17, 2025, 23:59, users who subscribed to Simple Earn (flexible or locked) and/or On-Chain Yields products with BNB would receive SOPH airdrop rewards. Binance will launch SOPH at 21:00 on May 28, 2025, and will open trading pairs with USDT, USDC, BNB, FDUSD, and TRY. It should be noted that SOPH will be traded on Binance Alpha, but will no longer be displayed there once spot trading begins. SOPH's total supply is 10 billion, with a total of 150 million allocated for this HODLer airdrop, accounting for 1.5% of the total supply. Additionally, 50 million and 150 million SOPH will be used for other marketing activities in batches after spot trading begins and six months later, respectively. The circulating supply of SOPH at launch will be 2 billion, accounting for 20% of the total supply.
KernelDAO and WLFI reach cooperation, using USD1 as a re-stakable asset.
The re-staking protocol KernelDAO announced a partnership with World Liberty Financial (WLFI), introducing the stablecoin USD1 to the Kernel platform as a re-stakable asset for the first time. Through this collaboration, USD1 holders can use their stablecoins to provide economic security for third-party applications and earn Kernel points as rewards. Previously, Upbit will list KERNEL on the BTC, USDT market.
OKX will delist 11 currency pairs including ZERO, PRQ, IQ, ARTY, and SAMO.
According to official news, OKX will officially delist the currency pairs ZERO/USDT, ZERO/USD, PRQ/USDT, PRQ/USD, IQ/USDT, IQ/USD, ARTY/USDT, ARTY/USD, SAMO/USDT, SAMO/USD, and USDT/USDC on June 4, 2025, from 4:00 PM to 6:00 PM (UTC+8). It is reported that OKX has suspended the deposit functions for ZERO, PRQ, IQ, ARTY, and SAMO at 2:00 PM (UTC+8) on May 28, 2025, and will no longer support the withdrawal services for ZERO, PRQ, IQ, ARTY, and SAMO starting from 4:00 PM (UTC+8) on September 4, 2025.
Moonshot launches TheTrenches ($Trenches).
Moonshot announced the launch of TheTrenches ($Trenches) on the Solana chain, currently valued at approximately 8.6 million USD, with a 24-hour trading volume of 27.8 million USD.
Grayscale establishes an 'AI Crypto Sector' as the sixth major cryptocurrency classification standard.
According to the official blog, Grayscale has established an 'AI Crypto Sector' as the sixth major cryptocurrency classification standard. This sector includes 20 tokens, with a total market value of 21 billion USD (a 366% increase from Q1 2023), mainly divided into three major subcategories: 1. AI Platforms: Such as the market leader Bittensor and Near, providing decentralized AI development infrastructure; 2. AI Tools and Resources: Including Grass (data collection) and Akash (computing power marketplace); 3. AI Applications and Agents: Such as Virtuals (autonomous AI agents) and Worldcoin (human identity verification). The report notes that the current AI Crypto Sector only accounts for 0.67% of the total cryptocurrency market value but has enormous potential. Bittensor will see its first token halving this year, and its subnet ecosystem has seen staking volume exceed 7% of circulating supply since the February upgrade. Projects like Grass have already achieved tens of millions of dollars in annual revenue, showing commercial progress. Grayscale is positioning itself in this field through products like the Bittensor Trust, believing that blockchain technology can solve the governance risks of centralized AI development. With the advancement of stablecoin legislation, the payment infrastructure for crypto-native AI agents is expected to accelerate.
Important data
A whale withdrew 1,200 BTC from Binance, worth 130.6 million USD.
According to Onchain Lens monitoring, a whale withdrew 1,200 BTC from Binance, worth 130.6 million USD.
WalletConnect project-related address transferred 2.5 million WCT to Binance, worth 2.34 million USD.
According to on-chain analyst @ai_9684xtp, the address 0x19F...cCA67 received 2.5 million WCT from WalletConnect's multi-signature address eight hours ago and transferred it to Binance, worth 2.34 million USD. This address also received 2.5 million tokens during the token TGE a month ago, and tracing the funding connections may be related to Arrington Capital, but it cannot be confirmed whether the tokens will be used for market making or selling.
Bitcoin spot ETFs saw a total net inflow of 385 million USD yesterday, continuing a 9-day net inflow streak.
According to SoSoValue data, yesterday (Eastern Time, May 27), Bitcoin spot ETFs had a total net inflow of 385 million USD. The Bitcoin spot ETF with the highest net inflow yesterday was BlackRock's ETF IBIT, with a single-day net inflow of 409 million USD, bringing the historical total net inflow of IBIT to 48.394 billion USD. The second highest was Grayscale's Bitcoin Mini Trust ETF BTC, with a single-day net inflow of 36.029 million USD, and the historical total net inflow of BTC reached 1.414 billion USD. The Bitcoin spot ETF with the highest single-day net outflow yesterday was the ETF ARKB from Ark Invest and 21Shares, with a single-day net outflow of 38.3352 million USD, and the historical total net inflow of ARKB reached 2.687 billion USD. As of the time of writing, the total net asset value of Bitcoin spot ETFs is 132.895 billion USD, with the ETF net asset ratio (the market value compared to the total market value of Bitcoin) reaching 6.1%, and the historical cumulative net inflow has reached 44.911 billion USD.
Two new wallets withdrew 4,838 ETH from Kraken four hours ago, worth 12.86 million USD.
According to Onchain Lens monitoring, two newly created wallets withdrew 4,838 ETH from Kraken four hours ago, worth 12.86 million USD.
Financing
The European fintech platform Velocity, covering stablecoin business, completed a 10 million USD pre-seed funding round.
According to TFN, the European fintech infrastructure platform Velocity completed a 10 million USD pre-seed funding round, setting a record for financing at the same stage in Europe this year. This round was led by Activant Capital, with participation from Fuel Ventures and other institutions, and received strategic investments from executives at Stripe, Visa, and other companies. The company was co-founded by former Worldpay executive Eric Queathem and Tom Greenwood, founder of real-time payment company Volt, focusing on three major development areas: 1) Integrating a unified account structure for virtual IBANs and digital wallets; 2) Supporting real-time foreign exchange intelligent routing for fiat and stablecoins; 3) Automating cross-border settlement systems. The current team consists of 11 people, with plans to expand to 30 by the end of the year, focusing on strengthening engineering and compliance operations. Velocity leverages traditional payment industry experience to build an enterprise-level fund management platform compatible with both traditional banking and blockchain systems. Its technology has already achieved programmable payments, liquidity collaboration, and other functions to address real-world scenarios such as vendor payments and multi-currency funding pools.
Blockchain Builders completed a 28 million USD fundraise to support crypto startups.
According to Investing.com, Blockchain Builders, founded by Stanford graduates Gil Rosen, Kun Peng, and Steven Willinger, announced the completion of a 28 million USD fundraise, which was oversubscribed. The fund has injected over 16 million USD into 40 blockchain startup projects, focusing on the intersection of AI and blockchain, as well as fintech applications. Core investments include: 1 million USD investment in modular AI company 0G and supercomputing project Nexus Labs (with follow-up additions), and participation in their competitive funding rounds. The fund plans to complete the remaining 12 million USD deployment by the end of 2025, with several invested projects preparing for token generation events (TGE). The second phase of the fund aims to expand its investment network to universities such as Carnegie Mellon and Princeton.
Bitcoin smart multi-signature wallet provider Asigna completed a 3 million USD financing.
According to GlobeNewswire, Bitcoin smart multi-signature wallet provider Asigna announced the completion of a 3 million USD financing, led by Hivemind Capital and Tykhe Block Ventures, with participation from Sats Ventures, Trust Machines, and several angel investors. They also released a v2 version upgrade, adding embedded application support and developer SDK toolkit. This non-custodial multi-signature solution currently manages over 1.1 billion USD in assets, supports Bitcoin main chain and Layer 2 protocols such as Stacks, and can interface with meta-protocols like Ordinals and Runes. The new version allows users to interact with DApps directly through the multi-signature environment and introduces enterprise-level features such as sub-account management and privacy mode. Co-founder Vlad emphasized that it is entirely built on Bitcoin's native layer, with no smart contract risks.
Stablecoin payment platform Beam completed a 7 million USD financing, led by Castle Island Ventures.
According to official news, stablecoin payment service provider (PSP) Beam raised 7 million USD in a funding round led by Castle Island Ventures, with participation from Archetype, Bankless Ventures, Verda Ventures, and Arca Fund. Beam is a payment platform that connects traditional finance with blockchain technology, allowing users to send and receive cross-border funds using stablecoins and fiat currencies, providing real-time currency exchange, conversion from cryptocurrency to fiat, and seamless integration with bank accounts and digital wallets. Beam is registered as a U.S. money service business and complies with SOC 2 Type II standards.
IPO documents show Circle spent about 100 million USD to acquire Hashnote, primarily in stock.
According to The Block, Circle's latest IPO documents disclose that it completed the acquisition of tokenized company Hashnote in January 2025, with an actual consideration of 99.8 million USD, including 9.9 million USD in cash and 2.9 million shares of fully vested common stock. Based on Circle's current issuance price range of 24-26 USD/share, the final value of the transaction may exceed 120 million USD. Previously, the acquisition value had not been widely reported. According to the revised S-1 registration statement Circle submitted to the SEC on Tuesday, the company plans to raise funds through an initial public offering.
Strive completed 750 million USD financing to promote an 'excess return' Bitcoin strategy.
Strive Asset Management, founded by Vivek Ramaswamy, has completed a 750 million USD private equity investment (PIPE) round at a subscription price of 1.35 USD/share, a 121% premium over ASST's previous closing price, with the opportunity to expand to 1.5 billion USD through warrants. The funds will be used to acquire undervalued biotech companies, bottom-fish Mt. Gox's Bitcoin claims, and discounted structured BTC credit products to build its Bitcoin treasury. CEO Matt Cole stated that Strive will enhance BTC returns with an 'Alpha-oriented' strategy and will detail the plan at the 'Bitcoin and Enterprise Conference' in Las Vegas.
Institutions increase their holdings in crypto assets.
Metaplanet announced the issuance of 50 million USD interest-free ordinary bonds for increasing BTC holdings.
Japanese listed company Metaplanet announced the issuance of 50 million USD interest-free ordinary bonds for the purchase of additional BTC.
KindlyMD acquired 21 Bitcoins before merging with Nakamoto Holdings.
According to CoinDesk, healthcare service provider KindlyMD announced the purchase of 21 Bitcoins at an average price of 109,027 USD (total value approximately 2.3 million USD), completing the first phase of its Bitcoin reserve strategy. The company's stock price rose 3.9% that day. The funds for this purchase came from unexercised warrants. KindlyMD previously announced on May 12 that it would merge with Nakamoto Holdings, planning to establish a Bitcoin reserve following the MicroStrategy model, and has secured 710 million USD in financing support. The merged entity will collaborate with custody provider Anchorage Digital, with the transaction expected to complete in the third quarter of 2025. David Bailey, founder of Nakamoto Holdings, stated that the 21 Bitcoins represent a holding amount equivalent to one millionth of the circulating total, with the ultimate goal of accumulating 1 million Bitcoins.
Canadian listed company Captor Capital invested 500,000 USD to purchase Bitcoin as reserve assets.
Canadian listed company Captor Capital announced two strategic initiatives: 1) Invested 500,000 USD to purchase Bitcoin as reserve assets; 2) Issued 450,000 USD of unsecured convertible notes to European institutional investors, which will be used to supplement operating funds and promote investment strategies. Captor Capital emphasized that the Bitcoin acquisition is part of its innovative financial strategy aimed at creating excess value for shareholders. According to the terms of the agreement, if the company completes equity financing of over 10 million USD or undergoes a change of control, the notes will automatically trigger a conversion mechanism.
SharpLink announced 425 million USD private placement financing, incorporating Ethereum into its treasury strategy.
SharpLink Gaming announced it will complete a private placement financing of approximately 425 million USD, with Consensys as the lead investor, and the transaction is expected to be completed on May 29. The financing will be used to purchase Ethereum (ETH) and establish ETH as the company's main reserve asset. Joseph Lubin, founder of Consensys and co-founder of Ethereum, will serve as the chairman of the company's board. This move marks SharpLink's expansion into on-chain asset allocation, strengthening its strategic layout in the Web3 and iGaming markets.
Cantor launches a 2 billion USD Bitcoin collateralized lending program, initially supporting FalconX and Maple.
Cantor Fitzgerald has officially launched its 2 billion USD Bitcoin collateralized loan program, with the first round of financing targets including crypto broker FalconX and decentralized lending platform Maple Finance. FalconX plans to withdraw over 100 million USD under the lending framework in cooperation with Cantor, and Maple has completed its first loan disbursement.
