Last week proved pivotal for cryptocurrency markets and regulatory landscapes alike, marked notably by former President Donald Trump disclosing significant crypto profits and Ripple’s move toward a settlement with the U.S. Securities and Exchange Commission (SEC).
In a public financial disclosure, Trump’s cryptocurrency venture, World Liberty Financial, revealed a hefty profit of $57.4 million last year. Aside from these crypto-related earnings, Trump’s personal cryptocurrency holdings were disclosed as worth between $1 million and $5 million. In addition, the former president maintains investments in gold bar stakes valued between $250,000 and $500,000.
Cardano founder Charles Hoskinson suggested a substantial $100 million ADA investment to revitalize his platform’s DeFi ecosystem. The informal proposal, currently under consideration, entails using the Cardano Foundation’s treasury to purchase diverse digital assets, including bitcoin and several Cardano-native stablecoins such as USDM, USDA, and IUSD.
Minnesota-based firm SharpLink Gaming unveiled a dramatic strategic pivot, allocating approximately $463 million into Ethereum. By acquiring 176,270.69 ETH, SharpLink has instantly become the second-largest institutional holder of Ethereum tokens after the Ethereum Foundation.
Significantly, the SEC and Ripple took pivotal steps toward settling their contentious legal battle. In a joint motion filed in a New York federal court, both parties requested the release of a $125 million civil penalty held in escrow. Under the proposed terms, Ripple would return $50 million to the SEC, with the remaining $75 million reverting to Ripple. In related SEC developments, regulators indicated progress on spot Solana exchange-traded funds (ETFs), requesting issuers to update their filings—a step seen as a positive signal toward eventual approval.
Stablecoin issuer Tether made headlines as its investment entity acquired approximately 31.9% in Canada’s Elemental Altus Royalties Corp., a company specializing in precious metals royalties. This move underscores Tether’s continued diversification into traditional investment opportunities linked to tangible assets like gold.
Meanwhile, STRATEGY made financial headlines again last week with the launch of its cryptocurrency-backed preferred stock, STRD, listed on NASDAQ. The stock finished its first trading day slightly up at a gain of 0.24%. Additionally, STRATEGY expanded its sizeable bitcoin holdings by acquiring 1,045 BTC for approximately $110.2 million, bringing its total bitcoin treasury holdings to around 582,000 coins.
Ant Financial’s international arm announced plans to pursue stablecoin issuer permits in multiple jurisdictions including Hong Kong, Singapore, and Luxembourg, following their forthcoming regulatory frameworks effective later this year.
The NFT project Pudgy Penguins surprised its community by announcing a partnership with NASCAR. Although initial details remain sparse, the partnership aims to significantly expand the NFT brand’s mainstream exposure through motorsports.
In the fintech space, payments giant Stripe acquired the crypto wallet startup Privy, aiming to enhance its cryptocurrency capabilities. Privy is expected to remain operationally independent under Stripe’s umbrella, allowing increased speed in development and product deployment.
Circle continued its expansive journey, launching USDC tokens on the World Blockchain, an initiative founded by OpenAI CEO Sam Altman. The launch comes on the heels of Circle’s well-received recent public listing on the New York Stock Exchange.
Finally, the Polygon Foundation underwent a leadership reshuffle as co-founder Sandeep Nailwal transitioned officially into the role of CEO, promising renewed emphasis on Polygon’s cross-chain liquidity protocol, AggLayer.
