🐶📰 Weekend Update

BTC $103,573 (0.5%) | ETH $2,393 (2.0%) | SOL $170 (-2.0%)

Welcome to the Daily Bone Weekend Update where we recap the top stories from the week. Be sure to check out our daily newsletter to get all of your news hot off the press each and every weekday!

Headlines

• The crypto total market cap gained 10% up to $3.3T and Bitcoin ETFs recorded over $920M in weekly net inflows

• Coinbase acquired crypto options platform Deribit for $2.9B in the largest crypto acquisition in history

• Ethereum’s Pectra update went live as ETH outperformed all majors on the week

• The GENIUS Stablecoin act failed to pass a procedural vote

• US reached “full and comprehensive” trade agreement with the UK — China confirmed plans to begin trade negotiations with the US

• India carried out military strikes against Pakistan

• US Fed kept rates steady as Powell stated there is still “time to wait” for cuts

Legislation and Regulation

• The US OCC announced new guidelines allowing banks to buy, sell, and hold crypto assets for clients

• New Hampshire Governor signed law allowing investment into Bitcoin and crypto

• The SEC is exploring exemptions allowing companies to trade tokenized securities

• Arizona signed law to establish Bitcoin Reserve Fund

• Democrats walked out during crypto legislation discussion

• The SEC announced guests for its fourth crypto roundtable including Blackrock, Fidelity, and Robinhood

Crypto Payment Rails

• Stripe unveiled “Stablecoin Financial Accounts” bridging traditional finance rails with stablecoins

• Robinhood planned blockchain based trading platform for US equities in Europe

• Jupiter introduced Jupiter Send which allows you to send crypto to anyone with or without a crypto wallet

• Strike announced instant Bitcoin lending

Crypto Acquisitions and Raises

• Strategy acquired $180M worth of Bitcoin

• Vivek Ramaswamy’s Strive asset management announced $1B to form new Bitcoin treasury company

• Trump advisor David Bailey announced $300M raise for a Bitcoin treasury company

• DeFi Dev Corp acquired Solana validator with $72.5M stake — Purchased an additional $3M worth of Solana 

• Sol Strategies deployed entire $20M raise to purchase over 122K Solana

• Metaplanet acquired $53M worth of Bitcoin

Tokens and Equities

• Boop fun launchpad adjusted token reward structure for creators, causing many to speak out

• The DOOD token launched and is currently at a $60M market cap

• World Liberty Financial opened vote for USD1 airdrop to holders

• SOL Strategies gets set to issue shares on-chain

• Crypto trading platform eToro’s IPO is oversubscribed at a $4B valuation