PA Daily | BlackRock suggests allocating 2% of its portfolio to Bitcoin; SharpLink $425 million betting on ETH reserves
Reprinted from panewslab
05/28/2025·10DToday's news tips:
US Senator Lummis: Trump supports bill to buy 1 million BTC
BlackRock: It is recommended to allocate 2% of the portfolio to Bitcoin
David Sacks: Blockchain, Bitcoin, and cryptocurrencies are the financial system of the future
Binance HODLer airdrop launches Sophon (SOPH)
KernelDAO and WLFI reach cooperation to use USD1 as a re-staked asset
A giant whale extracted 1,200 BTC from Binance, worth US$130.6 million
Regulatory/Macro
Square pilots real-time Bitcoin payments in Las Vegas, planned to be fully open to customers in 2026
According to CoinDesk, Jack Dorsey's payment company Square, a payment company, launched a pilot Bitcoin Lightning Network payments during the "Bitcoin 2025" conference in Las Vegas. Participants can use Bitcoin to complete real-time settlement by scanning the barcode, and exchange rate conversion and transaction confirmation are automatically processed by the Square system. Miles Suter, head of Bitcoin products at Square's parent company Block, said that the feature plans to expand its testing scope this year and will be open to all users in 2026 (requires regulatory approval). The company said the move aims to build an "open, decentralized, low-cost" payment system.
US Senator Lummis: Trump supports bill to buy 1 million BTC
According to Cointelegraph, US Senator Cynthia Lummis, Wyoming, revealed at the Bitcoin 2025 conference that President Trump supports the BITCOIN Act, which requires the U.S. government to purchase 1 million Bitcoins within five years, and the funds will come from existing reserves of the Federal Reserve and the Treasury Department. The White House has formed a team of experts to promote legislation on digital assets including stablecoins, market structure and Bitcoin strategic reserves, and is expected to be introduced one after another in this order. Lummis said the Senate Banking Committee has passed a stablecoin bill, and after consultation with the minority party, it is expected to hold a full vote within one week of the resumption of the meeting. Trump's chief crypto adviser David Sacks previously said that the GENIUS stablecoin bill was expected to be finally passed after passing a procedural vote at 66:32 on May 19.
Viewpoint
BlackRock: It is recommended to allocate 2% of the portfolio to Bitcoin
According to Crypto Rover, a spokesperson for asset management company BlackRock said at the Bitcoin 2025 conference that it is recommended to allocate 2% of the portfolio to Bitcoin.
According to Matrixport analysis, Bitcoin open contracts have grown significantly since the April lows, while Solana has weakened relatively due to the cooling of the meme and Pump.fun craze. Analysts believe that this wave of growth may reflect the market's shift to higher risk appetite, especially after Trump's recent tariff policy adjustments, Bitcoin continues to have the dual attributes of risk assets and safe-haven assets, and is increasingly regarded as "digital gold." However, open contracts currently appear to be flattening, indicating that some traders may be taking profits and plan to re-enter the market when the price pulls back.
Michael Saylor: Bitcoin price will reach $1 million when Wall Street holds 10% of Bitcoin
According to Cointelegraph, Michael Saylor, chairman of the board of directors of Strategy (formerly MicroStrategy), said at the Bitcoin 2025 conference: "When Wall Street holds 10% of Bitcoin, the price of Bitcoin will reach one million dollars."
BlackRock executive: Bitcoin has more room to rise than gold and less room to fall
According to Cointelegraph, Robert Mitchnick, head of BlackRock digital assets, said at the Bitcoin 2025 conference: "Bitcoin has more room to rise than gold and has less room to fall."
David Sacks: Blockchain, Bitcoin, and cryptocurrencies are the financial system of the future
David Sacks, the head of cryptocurrency and artificial intelligence at the White House, said at the Bitcoin 2025 conference: "We believe that blockchain, Bitcoin, and cryptocurrencies are the financial system of the future."
According to glassnode data, the activity of Bitcoin’s old coin holders has increased significantly recently, with the total transfer of coin holders reaching US$4.02 billion in 1-5 years, the highest level since February this year. Among them, the coin holding group contributed US$2.16 billion in 3-5 years, the second highest in this cycle, second only to US$6 billion in March 2024; the coin holding group contributed US$1.41 billion in 2-3 years; and the coin holding group contributed US$450 million in 1-2 years. This 1-5-year transfer activity of the currency holder group is the fifth peak in this cycle, mainly driven by old currency holders. Recalling other transfer peaks in this cycle: US$9.25 billion (1-2 years group-led) in October 2024, US$6.11 billion (2-3 years group-led) in March 2024, US$5.42 billion (2-3 years group-led) in February 2025, and US$4.39 billion (3-5 years group-led) in November 2024. Current activity indicates that old coin holders are accelerating the release of Bitcoin in their hands.
Project News
Binance will launch a Vaulta (A) perpetual contract, supporting up to 75x leverage
Binance Contract will launch the Vaulta (A) perpetual contract at 16:00 on May 28, 2025, supporting up to 75 times leverage. Previous news, WLFi spent $6 million to buy Vaulta (formerly EOS) tokens.
Binance HODLer airdrop launches Sophon (SOPH)
Binance announces Sophon (SOPH) as the 20th project on the HODLer Airdrops page. Previously, users who subscribe to BNB to Simple Earn (flexible or locked) and/or On-Chain Yields products will receive SOPH airdrop rewards from 00:00 on May 14, 2025 to 23:59 on May 17. Binance will launch SOPH at 21:00 on May 28th, Beijing time, and open trading pairs with USDT, USDC, BNB, FDUSD and TRY. It should be noted that SOPH will be traded online in Binance Alpha, but the spot transaction will no longer be displayed in Binance Alpha after it is opened. The total supply of SOPH is 10 billion pieces, and the total reward of this HODLer airdrop is 150 million pieces, accounting for 1.5% of the total supply. In addition, there are 50 million and 150 million SOPHs to be used in other marketing activities in batches after they are launched in stock and 6 months later. When SOPH was launched, the circulating supply was 2 billion pieces, accounting for 20% of the total supply.
KernelDAO and WLFI reach cooperation to use USD1 as a re-staked asset
Re-staking Agreement KernelDAO announced a cooperation with World Liberty Financial (WLFI) to introduce the stablecoin USD1 to the Kernel platform for the first time as a re-staking asset. Through this partnership, USD1 holders can use their stablecoins to provide economic security for third-party applications and receive Kernel points as rewards. Previous news, Upbit will launch KERNEL in the BTC and USDT markets.
OKX will remove 11 coin pairs including ZERO, PRQ, IQ, ARTY and SAMO
According to official news, OKX will officially launch ZERO/USDT, ZERO/USD, PRQ/USDT, PRQ/USDT, IQ/USDT, IQ/USDT, IQ/USDT, ARTY/USDT, ARTY/USD, SAMO/USDT, SAMO/USDT and USDT/USDC pairs on June 4, 2025 from 4:00 pm to 6:00 (UTC+8). It is reported that OKX has suspended the recharge function of ZERO, PRQ, IQ, ARTY and SAMO from 2:00 pm (UTC+8) on May 28, 2025, and will no longer support ZERO, PRQ, IQ, ARTY and SAMO withdrawal services from 4:00 pm (UTC+8) on September 4, 2025.
Moonshot launches TheTrenches ($Trenches)
Moonshot announced the launch of The Trenches ($Trenches) on the Solana chain, with its current market value of approximately $8.6 million and a 24-hour trading volume of $27.8 million.
Grayscale sets up the "AI crypto sector" as the sixth largest cryptocurrency classification standard
According to the official blog, Grayscale has set up the "AI crypto sector" as the sixth largest cryptocurrency classification standard. The sector contains 20 tokens, with a total market value of US$21 billion (a 366% increase from Q1 2023), and is mainly divided into three subcategories: 1. AI platforms: such as Bittensor and Near, which provide decentralized AI development infrastructure; 2. AI tools and resources: including Grass (data acquisition) and Akash (computing power market); 3. AI applications and agents: such as Virtuals (autonomous AI agent) and Worldcoin (human identity verification). The report pointed out that the current AI crypto sector only accounts for 0.67% of the market value of the entire crypto market, but has huge potential. Bittensor will usher in its initial token halving this year, and its subnet ecosystem has exceeded 7% of its circulation since its upgrade in February. Projects such as Grass have achieved annualized revenue of tens of millions of dollars, indicating progress in commercialization. Grayscale plans to this field through products such as Bittensor Trust and believes that blockchain technology can solve the potential governance risks of AI centralized development. With the advancement of the stablecoin bill, the payment infrastructure of crypto-native AI agents is expected to be improved at an accelerated pace.
Important data
A giant whale extracted 1,200 BTC from Binance, worth US$130.6 million
According to Onchain Lens monitoring, a giant whale extracted 1,200 BTC from Binance, worth $130.6 million.
According to the monitoring of the on-link analyst @ai_9684xtp, address 0x19F...cCA67 received 2.5 million WCTs from the WalletConnect project's multiple signing address 8 hours ago and transferred them to Binance, worth US$2.34 million. The address also received 2.5 million tokens a month ago when token TGE. The forward traceability of funds may be related to Arrington Capital. It is impossible to confirm that the token will be used for market making or selling.
According to SoSoValue data, the total net inflow of Bitcoin spot ETFs yesterday (May 27 Eastern Time). Yesterday, the Bitcoin spot ETF with the largest single-day net inflow was Blackrock ETF IBIT, with a single-day net inflow of US$409 million. Currently, the total historical net inflow of IBIT has reached US$48.394 billion. The second is Grayscale Bitcoin Mini Trust ETF BTC, with a single-day net inflow of US$36.029 million. Currently, the total historical net inflow of BTC has reached US$1.414 billion. Yesterday, the Bitcoin spot ETF with the largest single-day net outflows were Ark Invest and 21Shares ETF ARKB, with a single-day net outflow of US$38.3352 million. Currently, the total historical net inflow of ARKB reached US$2.687 billion. As of press time, the total net asset value of Bitcoin spot ETF was US$132.895 billion, the net asset ratio of ETF (market value compared to the total market value of Bitcoin) reached 6.1%, and the historical cumulative net inflow has reached US$44.911 billion.
2 new wallets with 4838 ETH withdrawn from Kraken 4 hours ago, worth $12.86 million
According to Onchain Lens monitoring, the two newly created wallets pulled 4,838 ETH from Kraken 4 hours ago, worth $12.86 million.
Financing
According to TFN, European fintech infrastructure platform Velocity completed a pre-seed round of financing of US$10 million, setting a record for financing in Europe at the same stage this year. This round was led by Activant Capital, with Fuel Ventures and other institutions participating, and received strategic investment from executives such as Stripe and Visa. The company was co-founded by Eric Queathem, a former Worldpay executive, and Tom Greenwood, founder of Volt, a real-time payment company, focusing on three major development areas: 1) Integrating a unified account architecture of virtual IBAN and digital wallets; 2) Supporting real-time foreign exchange intelligent routing of fiat currency and stablecoins; 3) Automating cross-border settlement systems. Currently, the team has 11 people, and it is planned to expand to 30 people by the end of the year, focusing on strengthening engineering and compliance operations. Velocity has built an enterprise-level fund management platform that is compatible with traditional banking and blockchain systems. Its technology has realized programmable payments, liquidity collaboration and other functions, and is responsible for practical scenarios such as supplier payments and multi-currency fund pools.
Blockchain Builders Completes $28 million in fundraising to support crypto startups
According to Investing.com, Blockchain Builders, founded by Stanford graduates Gil Rosen, Kun Peng and Steven Willinger, announced that it had completed a $28 million fund raising and oversubscription. The fund has injected more than US$16 million into 40 blockchain startup projects, focusing on the intersection of AI and blockchain and the application of financial technology. Core investments include: investing US$1 million each in modular AI company 0G and supercomputing project Nexus Labs (subsequently added), and participating in its competitive round of financing. The fund plans to complete the remaining $12 million deployment by the end of 2025, and several invested projects are preparing for token generation events (TGE). The second phase of the fund plans to expand its investment network to universities such as Carnegie Mellon and Princeton.
Bitcoin smart multi-signment wallet service provider Asigna completes $3 million in financing
According to GlobeNewswire, Bitcoin smart multi-signature wallet service Asigna announced a $3 million financing round led by Hivemind Capital and Tykhe Block Ventures, with Sats Ventures, Trust Machines and several angel investors participating. At the same time, the v2 version upgrade was released, and the embedded application support and the developer SDK toolkit was added. The non-custodial multi-signature solution currently manages assets of more than US$1.1 billion, supports Bitcoin main chain and Layer2 protocols such as Stacks, and can connect to Ordinals, Runes and other meta-protocols. The new version allows users to interact with DApps directly through the multi-sign environment, and launch enterprise-level functions such as sub-account management and privacy mode. Co-founder Vlad stressed that it is built entirely on the Bitcoin native layer and has no smart contract risks.
Stablecoin payment platform Beam completes $7 million financing, led by Castle Island Ventures
According to official news, Beam, a stablecoin-based payment service provider (PSP), raised $7 million in a round of financing led by Castle Island Ventures, with institutions including Archetype, Bankless Ventures, Verda Ventures and Arca Fund. Beam is a payment platform that connects traditional finance and blockchain technology, which enables users to send and receive cross-border funds using stablecoins and fiat currencies, providing services such as real-time currency exchange, cryptocurrency-to-fiat currency conversion, and seamless integration with bank accounts and digital wallets. Beam is registered as a US currency service enterprise and complies with SOC 2 Type II standards.
IPO filings show Circle spends about $100 million to acquire Hashnote, mainly in stock form
According to The Block, Circle's latest IPO document disclosed that it completed the acquisition of tokenization company Hashnote in January 2025, with an actual consideration of US$99.8 million, including US$9.9 million in cash and 2.9 million shares fully attributable to common shares. According to the current issue price range of Circle's current issue price range of US$24-26 per share, the final transaction value may exceed US$120 million. Previously, the acquisition value has not been widely reported. According to a revised S-1 registration statement submitted by Circle to the U.S. SEC on Tuesday, the company plans to raise funds through an initial public offering.
Strive completed US$750 million in financing to promote the "excess income" Bitcoin strategy
Strive Asset Management, an asset management company founded by Vivek Ramaswamy, has completed a $750 million private equity investment (PIPE) round of financing, with a subscription price of $1.35 per share, a 121% premium to the previous closing price of ASST and has the opportunity to expand to $1.5 billion through warrants. The funds will be used to acquire undervalued biotech companies, buy Bitcoin debt claims such as Mt. Gox, and discounted structured BTC credit products to build their Bitcoin vaults. CEO Matt Cole said that Strive will increase BTC returns with an "alpha-oriented" strategy and will explain the plan in detail at the "Bitcoin and Enterprise Conference" in Las Vegas.
Institutions increase their holdings of crypto assets
Metaplanet announces issuance of $50 million interest-free ordinary bonds to increase BTC holdings
Japanese listed company Metaplanet announced the issuance of $50 million interest-free ordinary bonds to purchase additional BTC.
KindlyMD acquires 21 bitcoins before merger with Nakamoto Holdings
According to CoinDesk, healthcare service provider KindlyMD announced that it would purchase 21 bitcoins (total value of approximately US$2.3 million) at an average price of US$109,027 to complete the first phase of its Bitcoin reserve strategy. The company's shares rose 3.9% on the day. The funds for this purchase come from the company's unexecuted warrants. KindlyMD previously announced on May 12 that it would merge with Nakamoto Holdings, intending to build Bitcoin reserves in the model of MicroStrategy, and has received US$710 million in financing support. The merged entity will work with custodian Anchorage Digital, and the transaction is expected to be completed in the third quarter of 2025. David Bailey, founder of Nakamoto Holdings, said that the 21 Bitcoins symbolize that the holdings reach one million of the total circulation, and the ultimate goal is to accumulate 1 million Bitcoins.
Canadian listed company Captor Capital spends $500,000 to buy Bitcoin as reserve asset
Canadian listed company Captor Capital announced two strategic initiatives: 1) Spend US$500,000 to purchase Bitcoin as reserve assets; 2) Issuing US$450,000 unsecured convertible notes to European institutional investors, which will be used to supplement operating funds and promote investment strategies. Captor Capital emphasizes that the Bitcoin acquisition is part of its innovative financial strategy aimed at creating excess value for shareholders. According to the terms of the agreement, if the company completes equity financing of more than US$10 million or changes in controlling rights occur, the bills will automatically trigger the share transfer mechanism.
SharpLink Gaming announced that it will complete a private equity financing of approximately US$425 million, with Consensys being the leading investor, and the transaction is expected to be completed on May 29. The financing funds will be used to purchase Ethereum (ETH) and establish ETH as the company's main reserve asset. Joseph Lubin, founder of Consensys and co-founder of Ethereum, will serve as chairman of the company's board of directors. This move marks the expansion of SharpLink's business to the on-chain asset allocation field and strengthens its strategic layout in the Web3 and iGaming markets.
Cantor launches $2 billion Bitcoin staking credit program, first to support FalconX and Maple
Cantor Fitzgerald has officially launched its $2 billion Bitcoin mortgage program, with the first round of financing including crypto broker FalconX and decentralized credit platform Maple Finance. FalconX plans to withdraw more than $100 million under the credit framework of its partnership with Cantor, and Maple has completed its first loan.
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