Stay in the loop with our weekly crypto digest as we get you up to speed on the hottest trends and events in the crypto space.
Here’s what happened in crypto this week:
Hardware Manufacturer Ledger Releases Solana-Branded Non-Custodial Wallet
Ledger has launched a Solana-specific version of its Ledger Flex device, featuring enhanced support for Solana’s SPL tokens and a preloaded soulbound token that may offer future rewards.
The device was unveiled at the Solana Accelerate conference and aims to strengthen the Solana network’s presence in the crypto ecosystem, which has seen a significant rebound after challenges in the past.
The Solana wallet will function as a general-purpose crypto wallet, supporting various networks like Bitcoin and Ethereum while also improving compatibility with Solana’s ecosystem.
Ledger emphasizes the importance of security as Solana continues to grow, highlighting the unique features of the new device tailored for the Solana community.
FIFA Teams Up With Avalanche To Build Its Own Blockchain
FIFA plans to launch its own dedicated layer-1 blockchain on Avalanche’s network, marking a significant move in its blockchain initiatives.
This is not FIFA’s first venture into blockchain; in 2022, it released an NFT collection on the Algorand blockchain ahead of the Qatar World Cup.
Despite the decline in the NFT market, FIFA’s ongoing interest in blockchain suggests that major organizations are still exploring its potential.
Avalanche’s technology is positioned to support FIFA’s global-scale applications, although specific future releases on the new blockchain have not been disclosed.
Major US Banks Are Exploring Whether To Team Up To Issue A Joint Stablecoin
According to The Wall Street Journal (WSJ), some of the biggest banks in the United States are exploring the possibility of forming a consortium to issue a joint stablecoin. This move aims to counter increasing competition from the cryptocurrency sector.
The discussions reportedly involve firms co-owned by JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, and other major commercial banks.
Sources cited by the WSJ said the talks are still in the early conceptual stages and may evolve depending on future regulatory developments, especially legislation regarding stablecoins.
Bitget Wallet Gets A Rebrand With Simpler Interface And $1M Crypto Campaign
Crypto exchange Bitget announced that its non-custodial wallet, Bitget Wallet, is undergoing a major rebrand, just after experiencing a 300% increase in user base in just a year.
The update is part of the company’s broader “Crypto for Everyone Movement,” which seeks to onboard the next billion users through incentives and expanded functionality.
The firm also unveiled a $1 million global campaign as part of its mission to bring crypto into everyday use.
Trump Media & Technology Group (TMTG) Plans $3 Billion Crypto Investment
Trump Media & Technology Group (TMTG), the parent company of Truth Social, is reportedly planning to raise $3 billion to invest in cryptocurrencies such as Bitcoin.
According to sources cited by the Financial Times, the company aims to secure $2 billion through equity and an additional $1 billion via a convertible bond offering.
The anticipated move from TMTG comes ahead of the world’s largest bitcoin conference in Las Vegas this week, where Vice President JD Vance; Trump’s two eldest sons, Donald Jr. and Eric; and Trump’s crypto czar, David Sacks, are all scheduled to appear.
Sam Bankman-Fried (SBF) Receives Sentence Reduction
Sam Bankman-Fried (SBF), the former CEO of the collapsed cryptocurrency exchange FTX, has had over four years shaved off his 25-year prison sentence.
Originally sentenced in March 2024 for fraud and conspiracy charges related to misappropriating $11 billion in customer funds, his new projected release date is December 2044.
This reduction is attributed to credits earned from good conduct, participation in prison programs, and time served before sentencing.
Dubai Launches Real Estate Tokenization Platform On The XRP Ledger
Dubai’s property regulator, Dubai Land Department, has picked the XRP Ledger (XRPL) to anchor its flagship real estate tokenization project, launching a multi-agency effort to overhaul how ownership is recorded and accessed.
This initiative, announced May 25th, will integrate blockchain-based deed issuance into its property ledger, and on-chain ownership records will be directly connected to traditional registries.
Notably, Tokenization is gaining global traction, with firms like Ripple and McKinsey projecting trillions in future blockchain-based real-world assets, making Dubai’s move a high-profile step toward mainstream adoption.
Circle Files For IPO On The New York Stock Exchange (NYSE)
Stablecoin issuer Circle Internet Group, Inc. announced the launch of its initial public offering (IPO) of 24 million shares of Class A common stock, priced between $24 and $26 per share, with plans to list on the New York Stock Exchange (NYSE) under the ticker CRCL.
The IPO includes 9.6 million shares offered by Circle and 14.4 million by selling stockholders, according to a press release. Underwriters have a 30-day option to purchase an additional 3.6 million shares to cover over-allotments.
Circle says proceeds will depend on final pricing, with the offering aiming to raise up to $624 million at the top of the range, excluding the overallotment option.
Pakistan Is Setting Up A ‘Government-Lead’ Strategic Bitcoin Reserve
Pakistan is establishing a government-led strategic Bitcoin reserve, as announced by Pakistan Crypto Council CEO Bilal Bin Saqib at the Bitcoin 2025 conference.
The national Bitcoin wallet will not be used for speculation; instead, the Bitcoins will be held indefinitely without plans to sell.
The country plans to invest in Bitcoin mining and AI data centers, as well as explore the tokenization of illiquid assets and the use of blockchain for government efficiency.
This initiative is inspired by recent US moves towards cryptocurrency, including the establishment of a national Bitcoin reserve.
J.D. Vance Calls For Market Structure Bill At Bitcoin 2025, Says Trump Administration Will ‘Fire’ Anti-Crypto Regulators
During the Bitcoin 2025 conference, US Vice President J.D. Vance emphasized the need for a market structure bill to regulate digital assets without restricting them, warning that inaction could drive the $3 trillion industry offshore.
Vance stated that the Trump administration would remove anti-crypto regulators, specifically mentioning former SEC Chair Gary Gensler, to promote a more favorable regulatory environment for cryptocurrencies.
Legislative efforts are underway in Washington to regulate stablecoins and the broader crypto industry, but progress has been complicated by Trump’s connections to crypto ventures.
Vance also mentioned his own Bitcoin holdings, reinforcing his commitment to the crypto community and the importance of establishing pro-innovation regulatory frameworks.
Grok Is Coming To Telegram This Summer In Major Partnership With xAI
Telegram CEO Pavel Durov has announced a one-year partnership with Elon Musk’s xAI to integrate the Grok AI chatbot across all Telegram apps, reaching its user base of over one billion people.
The agreement involves xAI paying Telegram $300 million in cash and equity, as well as granting Telegram 50% of the revenue from xAI subscriptions sold through the app.
Grok will become a core part of the Telegram experience starting this summer. Notably, users will be able to access Grok directly from the search bar, pin it to the top of chats, and interact with it in both private and group conversations.
For now, Grok is expected to be available to all users by default, with some premium features possibly reserved for Telegram Premium subscribers.
Final Thoughts
So that’s it for this week!
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Have a fantastic week ahead!
