FT "Trump Media to Raise 4 Trillion Won for Cryptocurrency Investment"
According to the Financial Times (FT), Trump Media & Technology Group plans to raise $3 billion (4.1 trillion won) to invest in cryptocurrencies such as BTC. Sources say the company aims to secure $2 billion through new stock issuance and the remaining $1 billion through convertible bond issuance. FT reported that this news might be announced before the Bitcoin Conference 2025 in Las Vegas this week. The company criticized this as "listening to foolish information and writing an article," and the White House spokesperson declined to comment.
The Blockchain Group to Issue 98.8 Billion Won in Convertible Bonds for BTC Repurchase
French blockchain company The Blockchain Group (ALTBG) announced on X that it will issue convertible bonds worth 63.3 million euros (98.8 billion won) to purchase additional BTC. Through this, they plan to increase their holdings to 1,437 BTC.
Sui Announces Upcoming Security Enhancement Measures... Investing $10 Million
Sui posted on X, "The Cetus hacking incident was not a vulnerability in the Sui network or Move language, but a bug in the Cetus math library. However, regardless of the cause, the impact on users is the same. We will soon announce several measures to enhance the security of the Sui ecosystem. This includes a plan to invest an additional $10 million in security enhancement."
FTX Founder's Sentence Reduced by 4 Years
Coindesk reported that Sam Bankman-Fried's sentence has been reduced from 25 to 21 years. Accordingly, he will be released in December 2044. This reduction was based on participation in prison programs and pre-sentencing detention. Previously, he was convicted in 2023 for fraud charges involving $11 billion and is currently serving his sentence.
Dubai Government Promotes Real Estate Tokenization... Utilizing Ripple Ledger
Coindesk reported that Dubai Land Department launched Prypco Mint platform to tokenize real estate worth $16 billion by 2033. This platform is built on Ripple Ledger (XRPL). The minimum purchase cost is 2,000 dirhams (750,000 won).
Circle Denies Acquisition Plans
USDC issuer Circle denied Fortune's report about considering company sale. According to PYMNTS, Circle stated, "Our company is not for sale. Our long-term goals remain unchanged." Previously, Fortune had reported, citing sources, that Circle was in informal negotiations for potential sale with Coinbase and Ripple.
Lagrange Labs Launches Utility Token LA... Airdrop Planned
The Block reported that cross-chain infrastructure project Lagrange Labs will launch its own utility token LA after establishing a foundation. Registration for LA airdrop is from May 28 to June 2 (local time). According to tokenomics, LA supply is 1 billion, with 34.8% allocated to community, 25.4% to early contributors, 18.5% to investors, 11.3% to foundation, and 10% to initial airdrop. Lagrange Labs secured $17 million in investment last year.
Coinbase Supports RPL Trading for German Users
Coinbase announced support for RPL, RSR, PENGU, REZ, ATH, SYRUP, PENDLE, and L3 trading for German users.
Analyst: "This Cycle Driven by Corporations, Not Individuals"
Crypto Quant's senior analyst Julio Moreno posted on X, "In this cycle, the trend will occur in small companies, startups, and funds trying to mimic strategies, not individual investors. Are they prepared to hold on like strategies even if company stocks or funds drop 90%?"
$1.135 Billion Short Positions to be Liquidated if BTC Crosses $111,000
According to Coinglass data, if BTC crosses $111,000, $1.135 billion worth of short positions will be forcibly liquidated on major centralized exchanges. Conversely, if it falls below $109,000, $243 million worth of long positions will be liquidated.
BTC Below $109,000
According to Coinness market monitoring, BTC is trading below $109,000. On Binance USDT market, BTC is trading at $108,962.96.
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