Hello readers! Let’s dive into today’s major headlines from crypto world.
SharpLink, a publicly traded company, secures $425M to establish an Ethereum treasury, sending its stock soaring 420%
SharpLink Gaming, a publicly traded company, has secured $425 million through a special type of funding known as PIPE (private investment in public equity) to build an Ethereum treasury. This decision has caused its stock price to skyrocket by over 400% on Tuesday.
The company plans to use the newly raised funds to buy Ethereum, making it their main treasury asset—similar to how Michael Saylor’s firm, Strategy, has accumulated massive amounts of Bitcoin over the years. Many companies have followed this approach, including Semler Scientific and Metaplanet, which adopted Bitcoin-focused strategies in 2024.
French authorities have apprehended 12 suspects in connection with ongoing investigations into crypto-related kidnappings
French police have arrested 12 suspects in connection with two recent crypto-related kidnappings in Paris. A special police unit, the Brigade de Répression du Banditisme, which handles serious crimes, made the arrests in Paris and Loire-Atlantique. Some of those arrested are minors.
The suspects face charges of criminal conspiracy, kidnapping, and attempted kidnapping. Investigators believe that anonymous leaders have been recruiting young people through social media to carry out these crimes.
Thailand explores crypto-linked credit cards and updates its digital asset regulations, signaling a shift in financial innovation
Thailand is working on new rules that would allow tourists and locals to use crypto-linked credit cards for payments.
The country’s Ministry of Finance wants to make spending digital assets easier, especially for visitors. Under the proposed system, sellers will receive payments in regular local currency as usual—without needing to know if the buyer used cryptocurrency.
This isn’t entirely new—Thailand has been testing crypto payments in certain areas for a while. In January, the government launched a crypto payment trial on Phuket Island, a popular tourist spot. Meanwhile, in Kalasin province’s Huay Phueng district, over 80 local businesses already accept Bitcoin payments.
Coinbase is facing a lawsuit from investors over alleged financial losses linked to a data breach
Coinbase is facing a lawsuit over claims that it violated securities laws and misled its investors—just days after revealing a major data breach. According to the lawsuit, customer data had been compromised since December 2024, but Coinbase only admitted this publicly on May 15. The news caused the company’s stock to drop 7%, closing at $244 that same day.
The lawsuit also claims Coinbase withheld important information about its interactions with U.K. regulators in 2020—just a year before it became a publicly traded company in the U.S.
Cantor Fitzgerald introduces a $2 billion lending service backed by Bitcoin, expanding crypto-focused financial offerings
Cantor appears committed to the sector. Crypto-backed lending has been expanding, with more institutions now accepting digital assets as collateral.
Cantor first announced these Bitcoin-backed loan plans last July, and today marks the official launch. Although its own press release didn’t name specific clients, reports suggest FalconX, a leading crypto broker, and Maple Finance, a crypto lending platform, are among the first to take part.
This move strengthens the growing trend of crypto-backed loans, which, despite a downturn in 2023-2024, could see new momentum with mainstream financial institutions entering the space.
Trump Media announces a $2.5 billion funding plan to establish a Bitcoin treasury, reinforcing its crypto-focused strategy
Trump Media and Technology Group has secured $2.5 billion in funding from nearly 50 institutional investors through a private deal.
The company announced on Monday that it will use the money to build a large Bitcoin treasury. The funding includes $1.5 billion from selling company shares and $1 billion in special debt notes that don’t carry interest. The deal is expected to be finalized by May 29, making it one of the biggest Bitcoin treasury plans by a publicly traded company. This move aligns with Trump Media’s previously hinted expansion strategies aimed at promoting its “America First” agenda.
That’s all for today folks. Cryptocappy will be back tomorrow with latest updates from crypto. Until then have a great day!
