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NewsBriefs - VanEck asserts Solana ETF application still active despite form removal

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  • Cryptoslate

    VanEck asserts Solana ETF application still active despite form removal

    VanEck's head of digital assets research confirms their Solana spot ETF application remains active, despite the removal of 19b-4 forms from Cboe's website. VanEck maintains SOL should be classified as a commodity like Bitcoin and Ethereum. The firm highlights Solana's decentralization progress, citing decreased concentration of token holdings and a high Nakamoto Coefficient. VanEck believes evolving legal perspectives support SOL's commodity status in secondary markets.

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    • The Block

      NYSE Arca files for Truth Social Bitcoin ETF to track Bitcoin prices

      NYSE Arca has filed for the Truth Social Bitcoin ETF to track bitcoin prices, sponsored by Yorkville America Digital and custodied by Foris DAX Trust. This ETF is part of Trump Media and Technology Group's crypto initiatives, including the recent establishment of a corporate bitcoin treasury.

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    • The Block

      Truth Social files for Bitcoin ETF through NYSE Arca

      NYSE Arca has filed for a Bitcoin ETF to be offered by Truth Social, Trump Media's social media branch. This ETF aims to track the price of Bitcoin and is part of an expanded crypto investment strategy by Truth Social, which includes establishing a corporate Bitcoin treasury. The filing, involving entities like Yorkville America Digital as the sponsor and Foris DAX Trust Company as the custodian, marks a significant push into crypto for Trump Media.

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    • The Block

      Kraken launches Kraken Prime, a new prime brokerage service for institutional crypto clients

      Kraken has introduced Kraken Prime, a full-service prime brokerage designed for institutional clients, offering integrated trading, custody, and financing solutions. This service provides deep liquidity and advanced trading tools through a single interface, meeting the needs of asset managers, hedge funds, and corporates in the crypto market. Kraken Prime features liquidity from over 20 venues, asset-backed lending, and 24/7 support, establishing a new standard in institutional crypto services alongside competitors like Coinbase Prime and FalconX.

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    • Tether

      Tether invests in Orionx to bolster stablecoin adoption in Latin America

      Tether, a major player in the digital asset sector, has concluded its exclusive Series A funding of Orionx, a leading Chilean digital asset exchange. This strategic investment aims to advance financial inclusion and foster resilient digital payment infrastructures in Latin America by enhancing Orionx's technology and expanding its regional operations. With stablecoins playing a crucial role in the region's burgeoning crypto economy, this partnership is set to address financial service gaps and bolster the adoption of stablecoins in remittances, payment processing, and treasury management across multiple countries including Chile, Peru, Colombia, and Mexico.

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    • Blockworks

      Pump.fun aims for $1 billion in upcoming token sale with $4 billion valuation

      Pump.fun is planning to raise $1 billion through a token sale that attributes a $4 billion valuation to its tokens. The sale will target both public and private investors. According to sources, Pump.fun, a memecoin launchpad platform, might conduct the sale within the next two weeks. This valuation would establish Pump.fun as a significant player in the crypto market, following its success in facilitating the creation of Solana tokens and a meme coin frenzy.

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    • The Block

      Strategy rolls out new preferred shares to fund more Bitcoin buys

      Strategy announced plans to sell 2.5 million Stride (STRD) perpetual preferred shares to finance additional Bitcoin purchases. The shares offer a 10% dividend and are targeted at institutional and select non-institutional investors. Proceeds will be used for general corporate purposes, including Bitcoin acquisition and working capital, as the firm continues to strengthen its position as a leading crypto treasury entity. Strategy now holds over 580,000 BTC worth more than $60 billion, reinforcing its aggressive approach to converting capital into Bitcoin.

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    • The Block

      IG Group partners with Uphold to launch retail crypto trading in the UK

      IG Group has launched direct crypto trading services for retail investors, in partnership with US-based Uphold, marking the first UK-listed company to offer such services. This service enables transactions in mainstream tokens like bitcoin and ether, extending IG's offerings beyond crypto derivatives previously available through contracts for difference (CFDs). The initiative aims to enhance access to crypto investments in the UK amidst increasing regulatory developments.

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    • The Block

      Metaplanet acquires 1,088 more bitcoin, total holdings hit 8,888 BTC valued at over $930 million

      Metaplanet has acquired an additional 1,088 BTC for 16.885 billion Japanese yen ($117.5 million), increasing its total bitcoin holdings to 8,888 BTC valued at approximately $930 million. This purchase aligns with Metaplanet's strategy to reach a year-end goal of 10,000 BTC, influenced by MicroStrategy's corporate crypto strategies. Following this strategy, Metaplanet has become Asia's largest publicly traded bitcoin holder and is part of the global top 10. The company's strong performance has also reflected positively on its stock prices.

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    • The Block

      FTX initiates $5 billion payout to former users in second phase of bankruptcy plan

      FTX has started the second phase of its Chapter 11 bankruptcy distribution, dispensing around $5 billion to creditors. The payments, facilitated by BitGo and Kraken as distribution partners, aim to repay users approximately 74% of the value of their account holdings. This distribution round continues amid ongoing debates and desires among users for 'in kind' crypto asset returns rather than cash equivalents. The overall FTX repayment plan could distribute between $14.7 billion and $16.5 billion, adjusting based on claim types and valuations.

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    • The Block

      SEC seeks to dismiss lawsuit against Binance, signaling new regulatory approach

      The US Securities and Exchange Commission (SEC) is moving to dismiss its lawsuit against crypto exchange Binance. The decision, detailed in a court filing, aligns with the agency's revised policy perspective towards crypto regulation. This shift comes after Binance faced legal challenges, including a previous $4 billion settlement with the Justice Department for Bank Secrecy Act violations.

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    • Bloomberg

      Telegram completes $1.7 billion bond sale, targets debt repayment and growth

      Telegram raised $1.7 billion through a bond offering with a 9% coupon, closing on May 28. The company plans to use $955 million of the proceeds to pay off existing bonds maturing in 2026, while allocating the remaining $745 million for operational costs and expansion. The offering, initially aimed at $1.5 billion, saw demand that significantly exceeded available allocations, demonstrating strong investor support. Core investors included BlackRock and Mubadala, with provisions for future stock purchases at a discount if Telegram goes public. Concurrently, Telegram is enhancing its platform's functionality through a tentative collaboration with Elon Musk's xAI, potentially integrating the AI service Grok.

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      Bloomberg

    • The Block

      Twenty One Capital raises total financing to $685M to build Bitcoin treasury

      Twenty One Capital, led by Jack Mallers and backed by Tether and SoftBank, raised an additional $100 million through convertible notes, bringing their total financing to $685 million. The funds will be used to expand their Bitcoin holdings, which currently includes a significant stockpile from previous purchases and contributions. The company, which will be formed through a SPAC merger with Cantor Equity Partners, aims to augment its position as one of the largest Bitcoin treasuries among public firms.

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    • Cointelegraph

      Bank of Russia authorizes banks to offer crypto products to accredited investors

      The Bank of Russia has authorized banks to offer crypto-based financial products, specifically excluding the actual delivery of cryptocurrencies, to accredited investors. This follows a reported significant increase in crypto asset inflows, totaling 7.3 trillion rubles ($81.5 billion) in early 2025. T-Bank is among the first to introduce such products, offering digital financial assets linked to Bitcoin through the Atomyze platform. Meanwhile, the Bank of Russia advises against direct investment in cryptocurrencies, amid discussions on regulated crypto trading for certain investors.

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    • The Block

      Circle freezes $58 million in USDC linked to Libra memecoin scandal

      Circle has frozen approximately $57.6 million in USDC across two wallet accounts connected to the Libra memecoin incident, following the rise and collapse of the memecoin associated with Argentinian President Javier Milei. The specific requester of the token freeze remains disputed, with involvement from legal entities such as Burwick Law.

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    • The Block

      Pakistan unveils plans for strategic Bitcoin reserve at Bitcoin 2025 conference

      Pakistan is initiating a strategic Bitcoin reserve led by the government, as revealed by Pakistan Crypto Council CEO Bilal Bin Saqib at the Bitcoin 2025 conference. The reserve will function as a long-term holding, reflecting the nation's commitment to never sell these assets. Further, Pakistan aims to invest in Bitcoin mining and AI data centers using 2,000 megawatts, and to explore tokenization of illiquid assets alongside blockchain applications for enhancing government efficiency. These efforts are inspired by similar strategies adopted in the US.

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