CoinSpotMarket Update
All-Time Highs For Bitcoin As Ethereum Co-Founder Joins Board of MicroStrategy Copycat
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7 days ago
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7 days ago
U.S. President Donald Trump's media company, Trump Media & Technology Group, announced a $3.9B ($2.5B USD) investment from about 50 institutional investors to create a Bitcoin treasury in what it called “one of the largest Bitcoin treasury deals of any public company.” The deal is the latest move by companies partly owned by President Trump and members of his family to invest in crypto.
In the company’s announcement, CEO Devin Nunes said the company views Bitcoin “as an apex instrument of financial freedom, and now Trump Media will hold cryptocurrency as a crucial part of [its] assets.” The news coincided with the largest annual Bitcoin conference, Bitcoin 2025, which was hosted in Las Vegas this week.
Nasdaq-listed SharpLink Gaming raised $273M ($450M USD) to accumulate Ethereum (ETH) and establish an ETH treasury.
The raise was led by Consensys and was participated in by various crypto-focused funds such as Electric Capital and Pantera Capital.
As part of the announcement, SharpLink said that Consensys founder and CEO, Joseph Lubin—who is also a co-founder of a Ethereum—had joined its board of directors. Among other things, Lubin will advise on the development of SharpLink’s ETH treasury program.
Of the top 100 cryptocurrencies by market cap, Hyperliquid (HYPE) is the only one to have joined Bitcoin (BTC) in rising to new all-time highs in this latest market rally. Earlier this week, HYPE reached $62 ($39 USD), a gain of nearly 300% since early in April.
Adoption metrics for Hyperliquid, which is known for its on-chain decentralised exchange used primarily for derivatives trading, have increased considerably over the past 12 months. For more on Hyperliquid, see our article from earlier this year.
The combined market cap of all stablecoins has continued to trend higher to $385B ($247B USD), indicating that more capital is coming ‘on-chain’ and being used across the crypto ecosystem for reasons including payments and lending.
Stablecoins have been a central theme in May within the crypto space, as various global companies have announced products and services that incorporate them. Among those was Stripe, which announced stablecoin-funded accounts, allowing businesses to maintain balances in stablecoins, receive funds via crypto and fiat channels, and send stablecoins globally. Visa and Mastercard were other notable companies with stablecoin announcements in May.
Read more: What Are Stablecoins?
