Daily | GameStop Raises $1.5 billion in convertible bonds to buy Bitcoin; SEC Cryptocurrency Task Force to hold four roundtables

Reprinted from chaincatcher

04/03/2025·1M

Compiled by: Jerry, ChainCatcher

Important information:

“What important events have happened in the past 24 hours”

Circle submitted an IPO application and planned to be listed on the New York Stock Exchange

According to market news, stablecoin issuer Circle has filed S-1 documents with the U.S. Securities and Exchange Commission (SEC) to officially launch the initial public offering (IPO) process. The company plans to be listed on the New York Stock Exchange under the stock code CRCL.

GameStop Raises $1.5 billion convertible bonds to buy Bitcoin

Video game retailer GameStop announced Tuesday that it had raised $1.5 billion through a private placement of convertible bonds and plans to use the proceeds to buy Bitcoin, Coindesk reported.

The company's filings with the Securities and Exchange Commission (SEC) show that it has completed the issuance of $1.5 billion in premium convertible bonds with a face rate of 0.00% maturity in 2030, including the underwriter's full exercise of $200 million over-allotment rights. This move is exactly the same as Strategy's strategy to turn to Bitcoin acquisitions in August 2020.

SEC Cryptocurrency Task Force to hold four roundtables

The Securities and Exchange Commission (SEC) Cryptocurrency Task Force announced after its first roundtable that it will hold four more meetings in the first half of this year to conduct in-depth discussions on issues such as crypto trading, custody, asset chaining and decentralized finance. The four meetings were: April 11 “Blocks and Regulation: Tailored Rules for Crypto Transactions”, April 25 “Learn Your Custodian: Key Considerations for Crypto Asset Custody”, May 12 “Asset Chain: The Entrance of Traditional Finance and DeFi”, and June 6 “DeFi and the American Spirit.”

“These roundtables allow us to listen to experts, clarify regulatory challenges and explore the SEC’s response,” said Hester M. Peirce, head of the task force. All roundtables will be broadcast live to the public.

BlackRock has been approved by UK regulators to operate as a crypto asset company

BlackRock has been approved by the UK Financial Conduct Authority (FCA) to register as a cryptocurrency company, meaning the investment giant can provide crypto services in the UK.

On April 1, BlackRock became the 51st crypto asset company registered with the agency, joining companies such as Coinbase, PayPal and Revolut. The agency has been criticized by the crypto industry in the past for approving only about 14% of companies to register for companies, and the FCA said on its website: “We reject submissions that do not include the critical components needed to conduct the assessment or that the submissions are invalid due to poor quality of the critical components.”

Circle spends US$210 million to acquire Centre shares held by Coinbase

In its initial public offering (IPO) prospectus filed on Tuesday, Circle said it acquired the remaining 50% of Centre Consortium in 2023 for $210 million in shares, previously owned by Coinbase. Centre Consortium is a joint venture responsible for issuing USDC stablecoins, and Coinbase and Circle were former partners of the joint venture.

Circle wrote in the “Major Transactions” section of the IPO prospectus: “In August 2023, while we signed the cooperation agreement, we acquired the remaining 50% stake in Centre Consortium LLC from Coinbase.” Today, Circle has become the sole issuer of USDC and has disclosed detailed financial statements in the IPO specification.

16 crypto-dollars are listed on Forbes Billionaire List

According to Bitcoin.com News, 16 wealthy people in the cryptocurrency field were selected in Forbes’ latest "World Billionaire List", including Binance founder Zhao Changpeng with a net worth of US$63 billion, and Tether co-founder Giancarlo Devasini has a net worth of US$22.4 billion. Coinbase founder Brian Armstrong and MicroStrategy's Michael Saylor were listed on the list with $9.5 billion and $7.4 billion respectively.

Circle has paid Binance $60.25 million to reach a biennial USDC promotion and position cooperation

In November 2024, Binance became the first approved participant under the stablecoin ecosystem agreement, according to IPO S-1 filing filed by stablecoin issuer Circle with the U.S. Securities and Exchange Commission (SEC). According to the cooperation agreement, Binance needs to promote USDC on its platform and hold a certain amount of USDC in its fiscal reserves.

Circle paid Binance a one-time advance fee of $60.25 million and agreed to pay monthly incentive fees on the USDC balance held by Binance. The incentive fee is only paid when Binance holds at least 1.5 billion USDC, while Binance promises to hold 3 billion USDCs (except for certain cases).

The cooperation is divided into two parts: marketing promotion and fiscal reserves, both of which are biennial. If Binance terminates the marketing agreement early, it will still need to fulfill one year's obligation to reduce the rate and promote. Both parties may terminate the agreement early under certain circumstances.

Binance Alpha launches ZETA and SAFE

According to the official page, Binance Alpha is launched on ZETA and SAFE.

“What are some great articles worth reading in the past 24 hours”

A loss of US$300 million a year, Coinbase users are frequently deceived, and there is a "insider" behind the scenes that leak information?

How exactly do these hackers accurately target targets? Why can they obtain user's identity information, account status, and even transaction records? This security crisis may be more serious than expected.

ACT plummeted, Wintermute left: Who is paying for junk assets?

Platform risk control, market making arbitrage, and project clearance - the only one that was accurately hit is the user's wallet.

Conversation with Intae Song, Chief Sales Officer of Bitget: Everything is the result-oriented, and those with results will be fully rewarded

He specifically mentioned that insisting on face-to-face communication with two customers every week is a habit that helps him capture market changes in time and adjust his strategy and product direction more effectively. He also emphasized the importance of continuous learning and adapting to market changes, and provided advice and advice to new entrants.

Conversation with Robinhood CEO: Want to tokenize SpaceX 's equity and create a "pocket private bank" that everyone can afford

Our goal is to provide all clients with the same access rights, opportunities and strategies as high net worth individuals.

Interview with BRC-20 Founder Domo: Ethereum’s “traitor” went into seclusion for 48 hours, rewriting Bitcoin history

The future BRC-20 is a good thing without Domo, but not yet.

Paradigm: Uncovering the Mystery of the Threat of the North Korean Hacker Group Lazarus Group

From the organizational structure, attack methods and prevention strategies, talk about the Lazarus Group, the initiator of Bybit’s theft.

Meme Popular List

According to the market data of Meme token tracking and analysis platform GMGN , as of April 2, 19:50:

The top five popular Ethereum tokens in the past 24h are: Kekiusa, MIPRAMI, CHARLIE, KEK, MOONKIN

The top five popular tokens in the past 24h are: PIPE, ELON, REVS, FBS, BUTTCOIN

The top five popular tokens in the past 24h Base are: GRK, VIRTUAL, AGENT47, MOON, AIXBT