It’s been another eventful week in cryptocurrency, with notable news and developments impacting Bitcoin (BTC) and decentralized finance (DeFi). The crypto market is always in motion, with price changes, whale activity, evolving regulations, and the growth of Web3. Here’s a concise recap of the key happenings in crypto over the past week.
21Shares Files for First Spot Dogecoin ETF in the U.S.
21Shares has filed with the Nasdaq to launch the first U.S. spot Dogecoin (DOGE) ETF, aiming to hold actual DOGE in custody via Coinbase. This move puts 21Shares ahead in the race to introduce a meme coin ETF to American markets, with support from the House of Doge. Analysts see strong approval odds this year, which could mark a major milestone in bringing Dogecoin into mainstream investing.
BlackRock Moves to Tokenize $150B Money Market Fund
BlackRock has filed with the SEC to launch “DLT Shares,” a blockchain-based share class for its $150B Treasury Trust Fund. The shares won’t hold crypto but will use blockchain to mirror ownership records, boosting transparency and efficiency. BNY Mellon will handle the blockchain ledger. This move puts BlackRock in the growing race to tokenize real-world assets, following its successful $2.5B BUIDL fund and similar efforts from JPMorgan and Fidelity.
Truth Social Plans Utility Token and Wallet for Its Expanding Ecosystem
Truth Social, a part of Trump’s media empire, announced plans to launch a utility token and digital wallet to facilitate subscriptions and services across its platforms. The token will first be used for Truth+ streaming payments, with future expansion into Truth Social and financial services. Backed by up to $250M in crypto investments, this move deepens Trump Media’s blockchain push, although details remain scarce. The TRUMP memecoin dipped 10% on fears of competition.
Sui Joins Bitcoin DeFi with sBTC Integration
Sui is delving deeper into Bitcoin DeFi by announcing plans to integrate sBTC—a Bitcoin-backed asset on the Stacks network. Backed 1:1 by BTC, sBTC allows smart contract functionality, bringing Bitcoin liquidity into Sui’s fast-growing ecosystem. With over $9.6B already locked in Bitcoin-based DeFi, Sui aims to capture more market share. The move strengthens its position as a rising DeFi hub, with Stacks and Sui teaming up to expand BTC’s role in decentralized finance.
Ripple Reportedly Ups Circle Bid to $20B After Rejection
Ripple is rumored to have quadrupled its acquisition offer for Circle, the issuer of USDC, from $5B to $20B after its initial bid was rejected. This move, still unconfirmed by either company, aims to give Ripple control of the $61B USDC stablecoin and enhance its cross-border payments strategy. The timing is key, as Circle eyes a U.S. IPO. Ripple’s push follows recent regulatory wins and growing ties to pro-crypto U.S. leadership.
UK Set to Ban Crypto Purchases with Borrowed Money
The UK’s FCA is planning to ban retail investors from using credit cards, loans, or any borrowed funds to buy crypto. The move comes after data showed 14% of Brits used credit for crypto in 2024—more than double from 2022. Aiming to curb risky speculation and debt, the ban may exempt regulated stablecoins. The proposals also tighten lending, staking, and DeFi rules, sparking debate over balancing innovation with consumer protection.
MOVE Token Crashes 22% as Scandal Forces Co-Founder Suspension
Movement Labs plunged into crisis this week after a token-dumping scandal wiped out 22% of MOVE’s value in 24 hours. Reports revealed a market maker tied to Web3Port dumped 66 million tokens, sparking backlash and forcing the suspension of co-founder Rushi Manche. Coinbase and Binance quickly moved to restrict trading, deepening the fallout. Movement Labs says an internal probe and third-party audit are underway, but shaken investor trust may be tough to rebuild.
Trump Endorses Bill for 1 Million Bitcoin Buy, Sparking Market Buzz
Senator Cynthia Lummis has introduced the BITCOIN Act, proposing that the U.S. government purchase 1 million Bitcoins to bolster its financial strategy. President Donald Trump threw his full support behind the bill, fueling major excitement across crypto and political circles. If passed, it would mark the largest crypto acquisition in history. Investors are eyeing potential price surges while Trump continues pressing the Fed to cut rates, adding even more intrigue to the market outlook.
Bitcoin Price Primed for a Surge as Supply Shrinks and Demand Grows
Bitcoin has risen by over 30% recently, nearing its $109K all-time high. Analysts predict big things, with Ark Invest eyeing $2.4M by 2030. Three key charts explain the optimism: exchange supply is at a 5-year low, ETF inflows have surged to $112B, and Bitcoin’s long-term chart shows strong bullish momentum. With demand rising and supply tightening, many believe BTC’s next breakout could be just around the corner.
Cardano Whales Snap Up 410M ADA, Setting Stage for Potential Rally
Cardano (ADA) is flashing bullish signals as whales scooped 410 million tokens in April, boosting hopes for a major breakout. Analysts highlight ADA’s strong technical setup, with key targets at $1.40 and $3.20—its former all-time high. Some even eye $9 in the next bull run. While ADA is currently trading near $0.70, recent gains and whale moves suggest a quiet build-up that could trigger significant price action ahead.
