Crypto

Trump Media & Technology Group (DJT) has moved another $205 million in bitcoin, swelling its unrealized cryptocurrency losses to $455 million. The president’s publicly traded company continues to face pressure on its bitcoin strategy. DJT now sits on hundreds of millions in unrealized crypto losses, raising investor concerns about its financial health. The figure underscores the market volatility risk of corporations holding bitcoin as a reserve asset. While bitcoin trades near $77,000, DJT’s entry cost is clearly far above current market prices. ...

The South Korean government said it will review its cryptocurrency taxation plan after a national petition garnered over 50,000 signatures. The petition calls for canceling or delaying taxes on crypto trading gains. South Korea has been wavering on crypto regulation, and this review reflects domestic divisions over the tax framework for the digital asset industry.

Blockchain.com Files for U.S. IPO Crypto financial services firm Blockchain.com has confidentially filed an S-1 registration statement with the U.S. Securities and Exchange Commission, formally exploring a public listing. The company becomes the latest major crypto firm to seek a public market debut, following Circle, Gemini, and BitGo. Founded in 2011, Blockchain.com is one of the earliest cryptocurrency wallet service providers in the world. The company’s product portfolio spans a crypto wallet, exchange, institutional lending platform, and NFT marketplace, with users across more than 100 countries and regions. ...

Binance has launched SpaceX pre-IPO perpetual futures contracts, becoming the first major crypto exchange to offer derivatives tied to SpaceX’s pre-public market valuation. The move comes as SpaceX filed for its IPO this week under the ticker “SPCX,” with valuations reaching as high as $2 trillion. The perpetual contracts allow traders to gain exposure to SpaceX’s valuation before shares begin trading on public markets. Binance said the product settles against private market valuation data, enabling users to go long or short without holding actual equity. Elon Musk stands to become the world’s first trillionaire if the IPO succeeds. ...

UK trading platform IG Europe has partnered with crypto platform Bitpanda to offer cryptocurrency trading to its EU clients. “Our clients want crypto exposure from a platform they trust. This partnership delivers it,” said IG Europe’s Managing Director. The move reflects growing traditional finance adoption of crypto services. Bitpanda, headquartered in Austria, is one of Europe’s leading crypto service providers with regulatory licenses across multiple EU member states.

Nvidia’s earnings beat and strong outlook boosted Bitcoin mining stocks amid the AI boom. An increasing number of miners are expanding into AI computing, leveraging their large-scale GPU infrastructure to provide AI inference and training services. The market views this transformation as enhancing miners’ earnings diversification and reducing reliance on Bitcoin price volatility. Source: CoinDesk

The Federal Reserve has proposed granting limited master account access to crypto firms that have long sought such privileges. This move is seen as a significant signal of shifting US regulatory stance toward the crypto industry. Master accounts allow institutions to directly use the Fed’s payment clearing system, and gaining this access would substantially improve crypto firms’ operational efficiency and fund liquidity. The proposal is currently in the public comment period. ...

Summary: The global stablecoin supply has surpassed $300 billion, but growth is stalling as Tether gains market share at the expense of bank-issued and GENIUS Act-compliant competitors.

Summary: The SEC proposes its largest overhaul of public listing rules in over 20 years, allowing newly public companies to raise capital instantly and cutting compliance costs, with implications for crypto firms seeking easier market access.

Summary: Crypto infrastructure provider Zerohash is pursuing new funding at a valuation above $1.5 billion, after Mastercard dropped its investment plans, as Wall Street deepens its push into digital assets.