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NewsBriefs - Marc Andreessen calls GOAT token first convergence of AI and crypto

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  • CryptoBriefing

    Marc Andreessen calls GOAT token first convergence of AI and crypto

    Marc Andreessen, in a new a16z podcast, described the origins of Truth Terminal and the creation of the GOAT meme coin. In the podcast, Andreessen describes how the AI bot started promoting the GOAT meme, and then a meme token was created for it, which rapidly grew to a $500M valuation. Andreessen described this as the first true convergence of AI and crypto.

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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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      The Block

    • 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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      The Block

    • 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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      Cointelegraph

    • The Block

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

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      The Block

    • The Block

      Pakistan unveils plans for strategic Bitcoin reserve at Bitcoin 2025 conference

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      The Block

    • The Block

      JD Vance advocates for non-restrictive crypto market structure bill, promises to replace anti-crypto regulators

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      The Block

    • Conduit

      Conduit secures $36M in Series A funding to expand its stablecoin-based payment network

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      Conduit

    • Pavel Durov

      Telegram partners with Elon Musk's xAI for one-year deal to distribute Grok to its billion users

      Telegram has entered into a one-year partnership with xAI to integrate and distribute the Grok platform to its user base exceeding one billion. Through this deal, Telegram will receive $300 million from xAI in both cash and equity, plus a 50% share of the revenue generated from xAI subscriptions sold through its platforms.

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      Pavel Durov

    • Grayscale Research

      Grayscale introduces new Artificial Intelligence Crypto Sector

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    • The Block

      Cantor completes inaugural Bitcoin financing with Maple Finance and FalconX

      Cantor Fitzgerald has launched its Bitcoin Financing Business, closing its first financing deals with Maple Finance and FalconX. The Wall Street firm aims to provide up to $2 billion in financing to institutional clients. This initiative underscores Cantor's commitment to integrating digital assets services, enhancing institutional-grade credit infrastructure in the crypto market. Cantor also relies on Anchorage Digital and Copper for custodial services.

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      The Block

    • Cointelegraph

      SharpLink Gaming launches Ethereum treasury strategy

      SharpLink Gaming has established an Ethereum-based corporate treasury and appointed Ethereum co-founder Joseph Lubin as its board chairman. The company secured a $425 million investment through a private equity deal involving investors like Consensys. SharpLink's stock surged by approximately 400%, reflecting investor optimism about its new crypto treasury strategy, which centers Ether as its primary asset.

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      Cointelegraph

    • The Block

      Bitget introduces BGUSD, a yield-generating crypto token backed by real-world assets

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      The Block

    • The Block

      The Blockchain Group completes $72 million bond issuance to fund Bitcoin purchases

      Blockchain Group has concluded convertible bond issuances totaling $72 million to finance the acquisition of additional Bitcoin, aiming to increase its holdings to over 1,400 BTC. The company has recently doubled its share price since adopting its Bitcoin accumulation strategy and plans to continue developing its subsidiary operations while pursuing this strategy.

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      The Block