Token Chronicle - Week 4 June 2025

Top cryptos

Meme of the week:

Market Sentiment:

Market update: The market has recovered well from last week’s macro turbulence, particularly with the agreement reached between the US and Iran; BTC is now back at $106K, with the rest of the market following. Analysts believe it is poised to break a new record above $112,000. They point to favorable conditions driven by easing Iran-Israel tensions, declining inflation, and pressure on the Fed to cut rates. They see a historic high as only a matter of time, supported by institutional accumulation, regulatory progress, and new use cases such as bitcoin-backed mortgages. However, the “fear & greed” index signals excessive optimism, and the possible reintroduction of tariffs by Trump in early July could reignite volatility. At the same time, more companies and countries continue to open up to holding crypto reserves (mostly BTC for now, but not exclusively).

Main points this week:

International

1. Texas becomes the first US state to propose an autonomous Bitcoin (BTC) reserve: a step closer to large-scale Bitcoin adoption?
   Texas has become the first US state to propose a reserve dedicated exclusively to Bitcoin, funded with public money. Separate from the state treasury, it is governed by a specific law and managed by a committee of cryptocurrency experts. It is thus an autonomous institution, comparable to a sovereign wealth fund in cryptocurrencies. Moreover, the law protects it from budget fluctuations: it cannot be easily liquidated. It should be noted that the reserve is theoretically open to other cryptocurrencies. But the rules stipulate that only assets with a market capitalization over $500 billion can be included — which, at this stage, only concerns Bitcoin. Another innovation of this reserve: it can grow thanks to public donations in crypto.

2. Norway seeks to limit Bitcoin mining to preserve its energy resources:
   Despite its obvious advantages in capitalizing on energy surpluses, Bitcoin mining remains a sometimes controversial activity. Proof: the recent decision by the Norwegian government to limit its national development as much as possible.

3. Dedollarization: payments between BRICS countries now surpass $1 trillion:
   BRICS+ countries have reached a symbolic threshold in their multilateral exchanges: $1 trillion. The BRICS+ are notably developing a common payment system to facilitate trade among their countries without using the dollar. Russia estimates that BRICS+ will dominate 30% of the global economy by 2030. The bloc's countries are already reporting a net increase in transactions conducted in their local currencies.

4. Is South Korea’s largest bank about to launch a stablecoin backed by the won?
   This year’s crypto success was expected to be Bitcoin’s bull run. But it’s clear that the stablecoin market seems determined to steal the spotlight. Latest development: the creation of a won-backed version by South Korea’s largest bank.

5. Digital euro vs stablecoins: Brussels challenges the Central Bank:
   The evolution of stablecoins is currently experiencing unprecedented acceleration. A trend the European Central Bank visibly wants to oppose in order to support its digital euro. But the European Commission does not share the same view.

6. Will cryptocurrencies soon be considered to obtain a mortgage loan in the United States?
   This Wednesday, the Federal Housing Finance Agency (FHFA) officially asked Fannie Mae and Freddie Mac, the two pillars of the mortgage system, to integrate cryptocurrencies into their risk assessment criteria for residential mortgage loans. The instruction, signed by William J. Pulte, FHFA director, orders the two public companies to submit a detailed plan on how to incorporate digital assets into their analytical models, without forcing borrowers to convert their cryptos into dollars before obtaining a loan. However, the FHFA directive specifies that only assets “that can be verified and held on a regulated centralized platform in the United States” will be eligible. In other words, on-chain holdings managed via self-custody or DeFi protocols will not be counted at this stage.

7. India in turn considers a strategic Bitcoin reserve:
   Faced with Bitcoin strategies put in place by the United States and El Salvador, India is in turn considering a strategic reserve. The debate is opening in New Delhi, led by Pradeep Bhandari, against a backdrop of economic modernization and geopolitical repositioning in a rapidly changing digital world.

8. Bhutan wins its Bitcoin bet with a reserve now representing 40% of its GDP:
   Government accumulation of Bitcoin is not new. It began in 2020 by the small country of Bhutan, aided by a strong mining industry. The result: it now holds $1.3 billion in BTC, equivalent to 40% of its GDP.

9. "Serious threat" — North Korea and Iran reportedly use cryptocurrencies to fund their nuclear programs:
   A new report from the Financial Action Task Force (FATF) highlights the role played by cryptocurrencies in the nuclear programs of several countries, including North Korea and Iran. These are reportedly used in particular to circumvent sanctions. North Korea unsurprisingly tops the list of countries that have implemented a real cryptocurrency program to fund its armament. We recall for example the record ByBit hack last February: the action allowed the Lazarus group to get away with $1.5 billion.

10. Kazakhstan to build a cryptocurrency reserve:
    The central bank of Kazakhstan has confirmed the establishment of a cryptocurrency reserve. The reserve could also be composed of cryptocurrencies coming from mining. Kazakhstan is already known for having attracted many miners, thanks to low electricity prices.

11. Texas adopts gold and silver as legal tender — back to the monetary future?
    Texas has just passed a law recognizing gold and silver as legal tender on its territory. By signing law HB1056, Texas governor Greg Abbott strengthens the resilience of the state’s residents. Indeed, this law officially recognizes gold and silver as legal tender in Texas, within the limits set by the US Constitution. More specifically, it authorizes the use of gold and silver coins as a means of payment, provided they are marked with their weight and purity, without necessarily bearing the mention of a state issuer. The law also allows the creation of electronic payment systems backed by gold and silver reserves held in secure vaults. It is not an obligation: no one is required to accept these metals as payment.

12. The US strategic Bitcoin reserve "coming soon," according to a Donald Trump advisor:
    The establishment of a strategic Bitcoin reserve in the United States, announced by a Donald Trump advisor, is becoming clearer. Officialized by an executive order in March 2025, this initiative is generating as much enthusiasm as criticism within the crypto community.

13. Institutional investors added $1.24 billion to crypto funds last week while global tensions escalated, marking the tenth consecutive week of inflows. Bitcoin captured $1.1 billion of that total, representing nearly 90% of all inflows. U.S. markets dominated with $1.25 billion in inflows, while Hong Kong saw $32.6 million flow out.

Compliance / Regulation / Justice

1. Donald Trump targeted: a proposed law seeks to stop his crypto profits:
   Championed by Democratic Senator Adam Schiff, the proposed law seeks to prohibit individuals holding public office from issuing or promoting crypto assets. In other words, it would prevent Donald Trump from conducting certain activities, such as launching his memecoin TRUMP or promoting his family business World Liberty Financial (WLFI).

2. The SEC met with the New York Stock Exchange to discuss crypto regulation:
   On the agenda: Trading of tokenized shares; Establishment of common standards for spot crypto ETPs; Ensuring fair competition among market participants.

3. Kraken gets its MiCA license to offer cryptos in Europe:
   After Coinbase last week, it’s now Kraken’s turn to obtain its MiCA license, in its case with the Central Bank of Ireland.

4. The Ripple (XRP) vs SEC case resumes: this judge rules that an amicable settlement is not possible:
   While Ripple (XRP) and the Securities and Exchange Commission (SEC) had found a friendly settlement, Judge Analisa Torres decided it could not be so.

5. Record crypto hacks: more than $2 billion stolen in the first half of the year:
   The cryptocurrency sector stands as a prime target for hackers. A rather grim reality for the first half of this year, with losses already nearly equal to all of 2024. The latest record belongs to the Bybit platform, stripped of $1.5 billion last February.

6. MiCA: Crédit Agricole’s CACEIS subsidiary becomes the first French bank to get approval:
   This week, CACEIS, a subsidiary of Crédit Agricole, became the first French bank to obtain its MiCA license. After GOin and Deblock, CACEIS thus becomes the third company to get a MiCA license in France through the AMF and ACPR. However, while SG Forge opened the ball back then in terms of approvals as a Digital Asset Service Provider (PSAN), CACEIS now takes the lead by becoming the first bank recognized as a crypto-asset service provider (PSCA), at least in France.

7. Ripple (XRP) CEO decides to "close once and for all" his case against the SEC:
   Launched in 2012, the Ripple project is now mainly known for its endless procedure against the American SEC, initiated since 2020. A regulatory saga that its CEO, Brad Garlinghouse, has just decided to end definitively.

8. Bitvavo gets its MiCA license to offer its services across Europe:
   Bitvavo announced it obtained its MiCA license from the Dutch Financial Markets Authority (AFM), allowing it to now offer its services to all EU countries, as well as Norway, Iceland and Liechtenstein. The platform thus becomes one of the first exchanges to receive this precious authorization since MiCA came into force.

9. Self Chain has ousted CEO Ravindra Kumar amid allegations he masterminded a $50M Ponzi-style OTC scam, luring investors via Telegram with fake discounts on tokens like GRT, APT, and NEAR. The scheme allegedly used new deposits to pay earlier victims, with OTC desk Aza Ventures facilitating trades tied to Kumar’s suspected alias, "Source 1." Despite warnings months earlier from Mysten Labs’ Adeniyi Abiodun and Berachain’s SmokeyTheBera, Self Chain only acted after public outcry, severing all ties with Kumar, who denies the claims as "false" and threatens legal action. The scandal highlights crypto’s persistent trust gaps in leadership and OTC markets.

10. Top U.S. senators have shared an outline of rules for domestic crypto markets, releasing a set of principles as they prepare to further hash out their intentions in an afternoon hearing. The crypto industry is excited about the recent progress of stablecoin legislation, but the legislation to set up the structure of fully regulated crypto activity is what the sector is most urgently awaiting. The chairman and three other Republicans on the Senate Banking Committee offered this framework, representing half of the team that would need to eventually clear a bill, which also must pass through the Senate Agriculture Committee.

11. The Financial Action Task Force (FATF) released its sixth Virtual Assets Progress Report, revealing 73% of jurisdictions now have Travel Rule laws for crypto, with fewer banning VASPs outright—though enforcement remains inconsistent. While illicit stablecoin use remains low (~1% of transactions), FATF warns their rapid adoption demands scrutiny, with dedicated stablecoin (2026) and DeFi (late 2025) reports pending. The update highlights AML/CFT framework advances but stresses urgent need for global enforcement coordination to combat regulatory arbitrage, particularly targeting offshore VASPs and high-risk regions. With 98% of the crypto market now under FATF-monitored jurisdictions, the message is clear: stricter implementation, not just legislation, is critical to curb financial crime in crypto’s evolving landscape.

12. With pro-crypto President Lee Jae-myung in office, South Korea is fast-tracking policies to foster a safer digital asset ecosystem. The Financial Services Commission (FSC) is drafting a roadmap to approve spot crypto ETFs by year-end and reviewing trading fee structures—potentially lowering rates from 0.05% to 0.015%, aligning with Lee’s campaign pledge. These efforts are part of his Youth Asset Formation Support Program, aimed at helping young Koreans overcome wealth inequality through crypto investment opportunities, matched savings, and job benefits. Meanwhile, the government is finalizing Phase 2 of its virtual asset laws, including stablecoin regulations, signaling a broader push to integrate crypto into the financial mainstream while addressing economic disparities.

13. Malaysian Prime Minister Anwar Ibrahim unveiled a Digital Asset Innovation Hub at the Bank Negara Malaysia’s Sasana Symposium, marking a major step in the country’s crypto ambitions. Building on Malaysia’s early CBDC exploration (since 2017) and its 2019 regulatory framework, the Hub aims to foster collaboration between regulators and industry to test programmable payments, Ringgit-backed stablecoins, and supply chain financing. The initiative aligns with the Securities Commission Malaysia’s recent sandbox expansion for tokenized securities, reinforcing the nation’s push to become a regional leader in digital asset innovation. PM Anwar emphasized the Hub’s role in driving financial efficiency and economic growth, signaling Malaysia’s commitment to a structured yet progressive crypto future.

14. Vietnam has passed its Digital Technology Industry Law, set to take effect January 1, 2026, providing the country’s first legal classification of crypto assets—distinguishing between virtual assets and tokenized assets based on use case and technology. The law aims to create a regulated environment for digital assets while boosting industry growth through incentives like tax breaks for foreign tech transfers, 50% government co-funding for local startups, and tax/visa exemptions for skilled professionals. This move positions Vietnam to attract blockchain innovation while formalizing its approach to crypto oversight.

15. The U.S. Supreme Court has declined to hear a case challenging the IRS's demand for Coinbase user data, leaving a lower court ruling in place. Over the past year, amicus briefs have been filed, including from Coinbase and Elon Musk's X, urging the Supreme Court to clarify privacy rights in the digital age, citing Fourth Amendment concerns. The dispute dates back several years after the IRS demanded records from Coinbase from thousands of its customers, including information involving security settings, transactions, and correspondence.

Traditional Finance

1. Stablecoins fail on these 3 key dimensions, according to the “bank of central banks”:
   Will stablecoins replace the cash present in commercial banks? No, says the Bank for International Settlements (BIS), which points to three key limitations.
   “Stablecoins offer certain promises in terms of tokenization, but they do not meet the conditions needed to become the backbone of the monetary system when evaluated against three essential criteria: uniqueness, elasticity, and integrity.”
   The uniqueness of money allows it to be accepted by all institutions and establishments indiscriminately. In other words, a bank can handle euro or dollar bills the same way. According to the BIS, stablecoins also do not meet the elasticity needed for the smooth functioning of a globalized financial system. That is, they do not allow flexible liquidity issuance, being confined to reserves existing at a given time. Finally, the bank of central banks believes stablecoins do not sufficiently demonstrate integrity against illicit payments.

2. Société Générale raided: suspicions of laundering tax fraud:
   Searches targeted on Tuesday, June 24, the premises of Société Générale at La Défense and in Luxembourg, as part of an investigation by the National Financial Prosecutor’s Office opened in January 2024. The preliminary investigation, opened in January 2024, concerns suspicions of “organized tax fraud laundering” and “criminal association.” In other words, magistrates seek to find out if an internal bank service “proposed and executed arrangements primarily for tax purposes benefiting large French companies,” practices that could have spanned “since 2009, in France and abroad, notably in Luxembourg.”

3. Barclays bank bans the purchase of cryptocurrencies with its credit card:
   British bank Barclays bans the purchase of cryptocurrencies with its credit card, for security reasons. A surprising decision, knowing the bank itself invests in cryptos. The banking institution believes there is a risk of capital loss for customers, who would be unable to repay purchases if prices drop. Moreover, Barclays points out that cryptocurrencies are not subject to the same legal protections as fiat.

4. KraneShares, managing $7 billion, filed to launch an ETF based on the Coinbase 50 index, aiming to track the top 50 digital assets by market cap.

5. The dollar faces an “unprecedented systemic risk,” says the bank of central banks:
   The Bank for International Settlements published a report warning about the delicate situation of the US dollar. According to it, the greenback faces a “historic stress test.” The bank of central banks indeed believes that a “new era of uncertainty and increased unpredictability” has been triggered by the geopolitical conflicts currently shaking the world, as well as economic decisions by US president Donald Trump.

6. Layer 2, futures and tokenized stocks: US giant Robinhood arrives strong in Europe:
   The US online brokerage giant Robinhood lands in Europe with major announcements, revealed during the EthCC in Cannes: tokenized stocks on Arbitrum, perpetual contracts on Bitcoin and Ether, and even the launch of its own layer 2. An aggressive strategy to conquer the European market and 400 million potential new clients.

7. Circle (USDC) wants to become its own bank — what does this mean?
   A new step for Circle in its institutionalization strategy. After its highly noticed IPO, the USDC issuer now aims to become its own bank. The company just filed for a “national trust bank” license with the US regulator, a decision that could redefine stablecoin governance in the US. If accepted, this license would allow Circle to create an entity that would become its custodian bank, in charge of holding its reserves but could also offer custody of digital assets for institutional clients. Named First National Digital Currency Bank, N.A., this banking entity could not, however, take dollar deposits or issue loans, unlike traditional banks. It would position more as a digital vault, notably for USDC reserves, the dollar-pegged stablecoin issued by Circle, as well as for tokenized financial assets (like stocks or bonds on blockchain).

8. Deutsche Bank plans to launch a cryptocurrency custody service in 2026.

9. Fidelity bought 10,283 ETH worth $25.7 million.

10. SoFi Technologies, the fintech company and largest online lender in the United States, will relaunch spot trading for BTC and ETH later this year after pausing its crypto services in 2023 due to regulatory hurdles. The company also plans to launch blockchain-based global remittances, enabling 24/7 international money transfers within the SoFi app, and eventually stablecoin, crypto lending, and staking features. CEO Anthony Noto framed the move as part of a broader push to make SoFi a leading all-in-one digital finance platform powered by crypto and blockchain innovation.

Tech News

1. Reddit reportedly preparing to test World ID, an iris scan identity verification system designed by Sam Altman, to fight bots.
   Stated goal: ensure user anonymity. But on the contrary, this method already sparks debates about privacy, consent and ethics. With this system, Reddit wants to ensure each account corresponds to a unique human, to combat AI bots and comply with future age verification laws. Discussions are still at an initial stage, but an agreement seems in sight.

2. Crypto company Taurus launches the first private stablecoin smart contract: what is it?
   Taurus, the Swiss company specialized in digital asset infrastructures and counting Deutsche Bank among its clients, has deployed the very first private stablecoin smart contract on layer 2 Aztec. Taurus is a Swiss company, founded in 2018, specialized in digital infrastructures for professionals, including cryptocurrencies, NFTs, digital currencies and tokenized assets (RWA). Today, the firm announced the deployment of the first private stablecoin smart contract.

3. Ethereum could soon run twice as fast. That’s according to a new proposal floated by core developer Barnabé Monnot to reduce the network’s slot time from 12 seconds to six seconds, effectively doubling the number of blocks produced per minute. The idea, part of EIP-7782, could be included in the upcoming Glamsterdam upgrade slated for 2026. Proposals or publicly discussed ideas are commonplace in the blockchain world, and may not necessarily move to testing. If implemented, the proposal would reduce time spent across three key consensus steps: block proposals (3 seconds), attestations (1.5 seconds), and aggregation (1.5 seconds). That would shave six seconds off the current 12-second cycle. Faster blocks mean quicker confirmations, fresher on-chain data for wallets and apps, and a more seamless experience for users.

4. Matter Labs, the team behind ZKsync, has introduced Airbender, a cutting-edge cryptographic prover that generates zero-knowledge proofs in just 35 seconds per Ethereum block using a single GPU—claiming it’s the fastest in the industry. This speed boost could drastically reduce transaction costs, enabling sub-cent fees for use cases like micropayments, high-frequency trading, and decentralized social apps. "Faster proofs mean cheaper apps and decentralized proof generation—no massive GPU farms needed," said Alex Gluchowski, Matter Labs co-founder. The innovation strengthens ZKsync’s position in the competitive Layer-2 space, where efficiency and cost are key battlegrounds.

5. RippleX has released rippled 2.5.0, a major upgrade to the XRP Ledger's core software, introducing seven new amendments now open for validator voting. Key features include TokenEscrow for multi-asset escrows, Batch for atomic transaction groups, and PermissionedDEX enabling compliant trading – with changes requiring 80% validator approval within two weeks to activate. The update marks XRPL's push to balance DeFi innovation with enterprise compliance, as RippleX urges validators to upgrade quickly. This comes as the network evolves into a more flexible platform catering to both decentralized finance and regulated institutional use cases.

Adoption

1. Michael Saylor, founder of Strategy, predicts Bitcoin at $21 million by 2046:
   Michael Saylor, the legendary founder and chairman of Strategy (formerly MicroStrategy), is not shy: he sees Bitcoin soaring to $21 million in the next 21 years, thanks to the geopolitical and regulatory upheavals that will occur by then. Michael Saylor also mentions the progress of three crypto bills in the US: the Genius Act (on stablecoins, which passed the Senate), the Digital Asset Market Clarity Act and the Bitcoin Act, which he sees as symbols of accelerating institutional adoption. He also praises initiatives by the federal states.

2. $100 million for a BNB corporate treasury — the project of these crypto hedge fund executives:
   The craze for crypto treasuries has gripped company managers and shareholders all over the world. A logic now open to altcoins, with successes that can be described as mixed. Now it’s Binance’s BNB cryptocurrency that interests the leaders of a crypto hedge fund. A project currently being discussed by former Coral Capital Holdings executives Patrick Horsman, Joshua Kruger and Johnathan Pasch, for an announced amount of $100 million.

3. $384 million to create a Bitcoin (BTC) treasury: this company wants to raise nearly 8 times its market value:
   Monday, the Nasdaq-listed company Sequans announced its intention to raise $384 million to create a Bitcoin (BTC) treasury. A Nasdaq-listed company specialized in semiconductors and 4G and 5G technologies. What’s surprising about this amount is that it is more than 7.8 times higher than Sequans’ market capitalization. Indeed, the company is valued at $49 million by the financial markets.

4. Anthony Pompliano wants to launch a BTC treasury company with $1 billion:
   Influencer and investor Anthony Pompliano is partnering with Columbus Circle Capital via a SPAC to create ProCap Financial, a listed company that aims to hold up to $1 billion in BTC and generate revenue from its holdings. To prepare this rollout, Anthony Pompliano has already secured over $750 million through his initial financing — $516.5 million in preferred shares and $235 million in convertible bonds. A record for this type of structure. Less than 24 hours after the announcement, ProCap BTC bought 3,724 bitcoins at an average price of $103,785 each, a first concrete milestone in the strategy.

5. French company Crypto Blockchain Industries (CBI) wants to raise €20 million to buy Bitcoin:
   One corporate Bitcoin treasury project follows another in crypto sector news. A wave with international scope, one of the next implementations now concerns a French company called Crypto Blockchain Industries (CBI).

6. The Smarter Web Company adds $25 million in Bitcoin, bringing its holdings to over 773 BTC as part of its accelerated treasury management strategy.

7. Japanese investment firm Metaplanet approved a $5 billion capital injection into its U.S. subsidiary to accelerate the global expansion of its bitcoin treasury strategy. It plans to fund the contribution through the exercise of stock acquisition rights, with limited impact expected in this fiscal year. Metaplanet framed the move as a shift into an aggressive expansion phase following the launch of its Miami-based U.S. unit last month. The company currently holds 11,111 BTC — worth around $1.2 billion — making it the eighth-largest publicly traded bitcoin holder, just behind Tesla.

8. Nasdaq-listed Nano Labs plans to raise $500 million specifically to buy BNB tokens for their corporate treasury. The Chinese chip designer's shares jumped 200% on the announcement. Founded by former Bitcoin miner executives, Nano Labs could expand the raise to $1 billion if demand holds.

9. Bit Digital is winding down its Bitcoin mining operations and high-performance computing subsidiary to become a pure-play Ethereum staking and treasury company. The firm will convert its 417.6 BTC ($44.7 million) into ETH and use proceeds from a stock sale and HPC spinout to fund additional ETH purchases. Bit Digital held 24,434 ETH as of the end of Q1 and claims to operate one of the largest institutional Ethereum staking infrastructures. Despite the surge in corporate bitcoin treasury initiatives in recent months, Bit Digital's move marks a rare pivot toward ETH as a core treasury asset, following similar firms like Joe Lubin's SharpLink.

10. Strategy (formerly MicroStrategy) bought another 4,980 BTC for $531.9 million between June 23 and June 29, bringing its holdings to 597,325 BTC — more than 2.8% of bitcoin's total 21 million supply. The latest acquisitions were funded by proceeds from the sale of its Class A common stock, MSTR, perpetual Strike preferred stock, STRK, and perpetual Strife preferred stock, STRF. Co-founder Michael Saylor again hinted at the announcement ahead of time, posting to X on Sunday: "In 21 years, you'll wish you'd bought more" — echoing his recent ultra-bullish BTC Prague claim that bitcoin could hit $21 million in 21 years.

Partnerships and Fundings

1. Global crypto exchange OKX is reportedly exploring an IPO in the United States just months after relaunching its U.S. operations in April, The Information reported. The move follows a $500 million DOJ settlement in February over allegations of operating a money-transmitting business without a license. OKX has set up headquarters in San Jose and grown its U.S. team to around 500 employees under regional CEO Roshan Robert. The company isn't the only crypto exchange business eyeing a U.S. listing, with Kraken, Gemini, and Peter Thiel-backed Bullish also weighing their options.

2. Circle (CRCL) soars 600% since its IPO, with a valuation close to Coinbase:
   Less than a month after its IPO, Circle (CRCL) sees its market cap exceed $77 billion — an amount higher than the market cap of the stablecoin USDC it issues, and that of Coinbase, its main partner. A meteoric rise of the stock boosted by the adoption of the GENIUS Act.

3. Giant Mastercard partners with Chainlink to offer on-chain crypto purchases to 3 billion users:
   A top-level partnership, at the intersection of traditional and decentralized finance: Chainlink partnered with payment giant Mastercard to enable 3 billion users worldwide to buy crypto on-chain. A major breakthrough, relying on the expertise of many specialized players. This partnership will allow cardholders to purchase cryptocurrencies directly on-chain, via apps connected to decentralized protocols. Concretely, this partnership will enable more than 3 billion Mastercard cardholders worldwide to access, from compatible apps, protocols like Uniswap to convert their fiat currencies into digital assets.

4. Ledger now sponsors the San Antonio Spurs basketball team:
   The famous San Antonio Spurs basketball team officially announced Tuesday a new sponsor: Ledger.

5. Predictive betting platform Polymarket soon to be worth $1 billion:
   The Polymarket platform continues to attract investments, despite bans against it. According to Bloomberg and Reuters, it is about to announce a new fundraising round that would bring its valuation to over $1 billion.

6. Ripple (XRP) partners with Wormhole to expand its interoperability:
   To develop its interoperability with the rest of the crypto ecosystem, Ripple partnered with the Wormhole bridge. This update allows XRP Ledger and its EVM sidechain to connect to 35 other blockchains. “Thanks to this integration, tokens natively issued on the XRP ledger are configured for this reality by enabling circulation between blockchain networks while maintaining native issuance and control. With support from infrastructures like Wormhole, we expand the interchain capabilities of XRPL and its EVM sidechain, thus extending the network’s reach without compromising the reliability on which it relies.”

7. Early-stage crypto venture capital firm Paradigm exclusively led a $15 million Series A round for Global Token Exchange (GTE), a DEX aiming to match the speed and performance of CEXs like Binance and Coinbase. GTE uses a central limit order book or CLOB while remaining fully non-custodial, composable, and permissionless in what its founders describe as "the world's fastest decentralized exchange." Built on the EVM-compatible Layer 1 MegaETH, GTE targets retail traders and liquidity providers seeking a seamless, low-latency trading experience.

8. Digital Asset raised $135 million from DRW Venture Capital, Tradeweb Markets, BNP Paribas, Citadel Securities, and DTCC. Their Canton Network already processes trillions in real-world assets for Goldman Sachs and BNY Mellon. The platform handles bonds, money market funds, commodities, and mortgages for major financial institutions.

9. Predictions platform Kalshi has raised $185 million at a $2 billion valuation in a Series C funding round led by crypto-focused venture capital firm Paradigm. Unlike decentralized rival Polymarket, Kalshi is CFTC-regulated and legally operates in the U.S., offering markets on political, economic, and crypto events. Kalshi gained traction during the 2024 election cycle and scored a major win in court last year to list congressional race contracts. Kalshi also supports deposits in cryptocurrencies, including BTC, SOL, XRP, RLUSD, and USDC. Kalshi's funding news comes a day after reports that Polymarket is nearing a $200 million raise at a $1 billion valuation.

10. Bakkt plans to raise up to $1 billion via equity and debt offerings to fund a bitcoin and digital asset treasury strategy, according to a prospectus filed with the SEC. The move marks the latest pivot for Bakkt as it looks to become a pure-play crypto infrastructure firm under co-CEO Akshay Naheta. Launched with support from NYSE parent ICE in 2018, Bakkt has cycled through various offerings, including an institutional bitcoin futures trading platform, tokenized rewards, and custody services.

11. MegaETH-based perpetual DEX, GTE, raises $15M in a Series A funding round exclusively led by Paradigm. Predictions market, Kalshi, raises $185M in a Series C funding round led by Paradigm, with participation from Sequoia, Multicoin, Bond Capital and more. Confidential blockchain protocol, Zama, raises $57M in a Series B funding round led by Pantera Capital and BlockChange VC. DeFi infrastructure protocol, Veda Labs, raises $18M in a funding round led by CoinFund, with support from Coinbase Ventures, Maelstrom, GSR, Animoca Ventures and more. Solana liquid staking protocol, Fragmetric, opens their FRAG token airdrop for claims, distributing 10% of the total token supply to eligible users.

Disclaimer: The information disclosed here does not constitute an investment advice ; it is for informational purposes only and does not constitute investment advice. You should do your own research while investing in crypto and only invest money you are ready to lose.