Son Min

Artificial intelligence (AI)-based education company Genius Group announced that it has resumed purchasing Bitcoin (BTC) since May and currently holds 100 BTC. Previously, Genius Group had been issued a court order prohibiting Bitcoin purchases by a United States court in April. On the 17th (local time), Genius Group stated on its official website, "Following the United States Federal Court of Appeals ruling on May 6 (local time), we have been able to resume Bitcoin acquisitions," adding, "During the past month, we have accumulated an additional 34 BTC, bringing the total to 100 BTC." The company further noted, "The total purchase amount stands at $10,060,000, with an average purchase price of $106,000 per BTC." They also indicated further accumulation plans. Genius Group emphasized, "We plan to continue accumulating Bitcoin with the aim of holding 1,000 BTC in the future." Roger Hamilton, CEO of Genius Group, said, "We were one of the few companies prohibited by a United States court from acquiring Bitcoin," and added, "We are pleased that the company and our shareholders have again secured the right to purchase Bitcoin according to principles. We will continue to accumulate going forward."

The global cryptocurrency exchange Binance is listing Spark (SPK) perpetual futures. On the 17th (local time), Binance announced on its official website, "Today at 18:00 (KST), Spark perpetual futures will be listed." Up to 75x leverage is supported. Meanwhile, Binance will also list the Spark spot trading pair today at 18:00 (KST).

It has been revealed that the synthetic stablecoin Falcon has been integrated into the Kaia (KAIA) chain. On the 17th (local time), Andrei Grachev, co-founder of DWF Labs, announced on X (formerly Twitter), "The synthetic stablecoin Falcon has been integrated into the Kaia chain," adding, "We will provide a stablecoin solution to more than 250 million LINE users." As of 5:17 PM, Kaia is trading at $0.1548, down 2.52% from 24 hours ago in the Binance USDT market.

The market capitalization of dollar-backed stablecoin USD Coin (USDC) issuer Circle has approached $33.617 billion. According to Investing.com on the 17th (local time), the previous day Circle closed the session at $151.06, up 13.10% from the previous day, raising its market cap to $33,617,000,000. This figure represents an increase of about 387% compared to the listing price of $31. The intraday peak price reached the $165 mark, reflecting high market interest. Circle's share price increase is seen as reflecting expectations that stablecoin issuers will benefit following the passage of the GENIUS Act in the United States. Previously, Bernstein stated in a report, "If the act passes, stablecoins will evolve into internet payment infrastructure," and analyzed, "There is a high probability that non-financial listed companies will collaborate with stablecoin issuers."

Bitcoin (BTC)'s price increase has been limited compared to spot Exchange-Traded Fund (ETF) inflows, but analysts note that the bullish scenario is still intact. On the 17th (local time), Matrixport stated in a report, "Over the past eight weeks, spot Bitcoin ETFs have seen inflows of $11.2 billion, yet Bitcoin has risen only 10%," adding, "This could signal that some investors are selling Bitcoin despite the upward trend." However, the report went on to say, "Nevertheless, the bullish scenario for Bitcoin remains valid," and attributed this to "the continued emergence of companies steadily accumulating Bitcoin." It further added, "Recently, spot Bitcoin ETFs have seen almost no capital outflows. Rotational trading is occurring among a diverse range of investors," and "this may be evidence that new entrants are gradually increasing in the market." As of 4:39 PM, based on Binance USDT market data, Bitcoin was trading at $106,648, down 0.35% from 24 hours ago.

The stablecoin project 'Plasma' has reportedly deposited $1 billion, raised through a public offering, into the Aave protocol. On the 17th (local time), Aave co-founder Marc Zeller announced via X (formerly Twitter), "Plasma has deposited $1 billion into the Aave protocol." Previously, research firm Four Pillars positively assessed, "Although Plasma is a project that has only been public for half a year, it is already collaborating with major stablecoin projects and fintech companies."

The number of wallets holding more than 1 million XRP has surpassed 2,700. According to The Crypto Basic on the 17th (local time), the number of wallets holding over 1 million XRP exceeded 2,700 for the first time ever. The outlet stated, "Currently, 2,708 wallets hold more than $2.25 million worth of XRP," adding, "This signals that whales are accumulating large amounts at early $2 prices." In addition, it was reported that XRP Ledger's daily transaction volume has exceeded its average of the past three months. It was further explained that "the average daily active addresses have surpassed 295,000, marking a 637.5% increase compared to last week." The media outlet noted, "A strong accumulation by whales and large-scale network activity typically precede a price rally," and that "analysts predict that the price of XRP will reach at least $8." As of 3:56 p.m., on the Binance USDT market, XRP is trading at $2.23, up 2.29% from 24 hours ago.

The Bitcoin (BTC) holdings of the Sweden-based health company 'H100 Group', which has adopted a Bitcoin reserve strategy, have surpassed 169. On the 17th (local time), 'H100 Group' announced in a press release, "Today, we received a partial payment of 144.8BTC under the convertible bond loan framework," and added, "We currently hold 169.2BTC on our balance sheet." Meanwhile, 'H100 Group' previously announced that it had entered into a convertible bond investment contract worth SEK 150 million (approximately $15.87 million) to build up its Bitcoin reserves.

France-listed blockchain group The Blockchain Group (ALTBG) has announced a paid-in capital increase worth €7.2 million (USD 8.33 million) to secure additional reserves of Bitcoin (BTC). On the 17th (local time), The Blockchain Group stated in a press release, "To implement our Bitcoin reserve strategy, we will carry out a paid-in capital increase at a price of €4.49 per share, totaling €7.2 million." The Group added, "With this capital raise, we plan to gradually increase our Bitcoin holdings per share." On the 13th (local time), The Blockchain Group had also announced the issuance of convertible bonds worth €9.7 million (approx. USD 11.2 million) for further Bitcoin purchases.

Last week, the number of active addresses on the XRP network reached 1.12 million. On the 16th (local time), cryptocurrency analyst Ali Martinez announced on X (formerly Twitter) that "last week, active XRP addresses reached 1.12 million." Generally, the number of active wallet addresses is interpreted as an indicator reflecting the growth of network users. As of 11:59 PM, according to Binance's USDT market, XRP is trading at $2.28, up 4.91% from 24 hours ago.

There is a claim that if the U.S. stablecoin bill 'Genius Act' passes, stablecoins will evolve into online payment infrastructure. According to CoinDesk on the 16th (local time), Bernstein stated in its report, "The Genius Act defines stablecoins as digital cash and seeks to promote wide commercial adoption," adding, "If the bill passes, stablecoins will evolve from being merely a means of moving funds for virtual assets (cryptocurrencies) into the infrastructure for online payments." In addition, the report elaborated on the high possibility for non-financial publicly traded companies to collaborate with stablecoin issuers. This follows prior reports that Amazon and Walmart, among others, are exploring the use of stablecoins. The report also stated, "The Genius Act includes provisions that effectively prohibit non-financial companies from directly issuing stablecoins," and that "rather than issuing stablecoins themselves, they will be compelled to cooperate with U.S.-based stablecoin issuers."

Some shareholders of the Japanese-listed company Bit Holdings have called on the company to secure funding for the purchase of up to 50,000 Bitcoins. On the 16th (local time), Bit Holdings announced on its website, "We have received a proposal from certain shareholders requesting fundraising for Bitcoin reserves." The voting rights held by these shareholders amount to 33.3% of the total shares. According to the proposal, they are seeking fundraising of ¥799 billion (about $5.6 billion) for up to 50,000 BTC. The main method proposed is to issue new shares through Moving Strike Warrants (MSW) and use the proceeds to raise the funds. Some see this move as influenced by the soaring stock price of Metaplanet, a leading Bitcoin reserve company in Japan. The cryptocurrency influencer Bitcoin Historian (Bitcoin Historian) commented on X (formerly Twitter), "They are conscious of Metaplanet's Bitcoin reserve strategy. The real purchase competition has begun." Meanwhile, Metaplanet announced today an additional purchase of 1,112 BTC, with its stock price having soared by more than 25%.

It has been observed that the amount of Bitcoin (BTC) held long-term has increased significantly over the past 30 days. On the 16th (local time), Martun, an analyst at CryptoQuant, announced via X (formerly Twitter), "Over the past 30 days, more than 1,019,000 BTC have transitioned into long-term holdings." As of 10:32 PM, Bitcoin is trading at $106,700 on Binance's USDT market, up 1.25% from 24 hours ago.

Nasdaq-listed SRM Entertainment has announced plans to accumulate $100 million worth of Tron (TRX) and change its company name. According to GlobeNewswire on the 16th (local time), SRM Entertainment stated in a press release, "We have signed a $100 million equity investment agreement with a private investor" and "We plan to accumulate Tron with the funds raised." Furthermore, the company announced it would change its name to Tron Inc (Tron Inc). SRM said, "We plan to change our name to Tron Inc," and added, "Justin Sun, founder of Tron, has been appointed as SRM’s advisor." Richard Miller, CEO of SRM, said, "Tron is a leading US dollar-based stablecoin. We are very pleased to invest in next-generation financial infrastructure." Previously, the Financial Times, citing sources familiar with the matter, reported, "Tron is set to be listed in the US through a reverse merger with SRM Entertainment," and "Eric Trump, the second son of US President Donald Trump, may also take on an important role at Tron Inc."

Truth Social, the social media (SNS) company of U.S. President Donald Trump, has reportedly submitted applications (S-1) for Bitcoin (BTC) and Ethereum (ETH) Exchange-Traded Funds (ETFs). According to Walter Bloomberg on the 16th (local time), Truth Social filed the application documents for the Bitcoin ETF, 'Truth Social Bitcoin ETF', and the Ethereum ETF, 'Truth Social Ethereum ETF', with the U.S. Securities and Exchange Commission (SEC).

The decentralized futures exchange Hyperliquid (Hyperliquid) governance token HYPE has been ranked 5th globally among crypto assets (cryptocurrencies) based on open interest (OI). On the 16th (local time), CoinDesk stated, "Hyperliquid has become the fifth largest crypto asset by perpetual futures open interest," adding, "the global Hyperliquid futures open interest has approached $2.06 billion." It continued, "This level is higher than the $1.83 billion recorded by Dogecoin (DOGE)," and further commented, "The fact that Hyperliquid secured the 5th position ahead of crypto assets with higher market capitalization is evidence that the market is focusing on purpose-driven projects." CoinDesk also mentioned Hyperliquid's investor-friendly moves. The outlet noted, "Hyperliquid uses 92% of protocol revenue for token buybacks," and reported, "This has added continuous buying pressure to the market and amplified investor interest."

The UK-listed venture capital firm 'Coinsilium Group' has reportedly purchased an additional approximately 6.5 Bitcoin (BTC). On the 16th (local time), Coinsilium announced on its official website, "We have purchased approximately 6.5 BTC through our subsidiary 'Forja Gibraltar,' established for Bitcoin reserves," and added, "We now hold a total of approximately 25 BTC." As of 9:12 PM, based on the Binance USDT market, Bitcoin is trading at $106,797, up 1.57% from 24 hours ago.

MicroStrategy has reportedly purchased an additional 10,100 Bitcoin (BTC). The investment is worth approximately ₩1,428.4 billion. On the 16th (local time), MicroStrategy founder Michael Saylor announced on X, "MicroStrategy has acquired an additional 10,100 BTC ($1.05 billion)," adding, "The average purchase price per BTC was approximately $104,080." He further noted, "We achieved a 19.1% return so far this year." MicroStrategy currently owns a total of 592,100 BTC, valued at about $41.84 billion, with an average acquisition cost of $70,666 per BTC. As of 9:06 PM, on the Binance USDT market, Bitcoin is trading at $109,815, up 1.77% from 24 hours earlier.

It was found that, on the previous day, Ethereum (ETH) whales made their largest purchase since 2018. On the 16th (local time), Cointelegraph reported, "As of the 15th (local time), addresses holding 1,000 ETH to 10,000 ETH accumulated 818,000 ETH," adding, "This is the largest such purchase since 2018." The article continued, "These whales now hold more than 16,000,000 ETH in total." As of 8:46 PM, based on the Binance USDT market, Ethereum is trading at $2,616, up 4.10% from 24 hours ago.

Global cryptocurrency exchange Binance will list Spark (SPK). On the 16th (local time), Binance announced on its official website, "Spark has been selected for the 22nd HODLer Airdrop Project," and added, "The spot trading pair is scheduled to be listed on the 17th at 18:00 (KST)."

The UK-listed company The Smarter Web Company has completed a share offering worth £29.3 million (about ₩54.1 billion) to be used for Bitcoin (BTC) accumulation. On the 16th (local time), The Smarter Web Company announced on their official website, "We have raised £29.3 million through a share offering targeted at institutional investors," adding, "This amount significantly exceeds the initial target of £15 million." They continued, "With the funds raised, we will continue our ongoing accumulation of Bitcoin," and added, "Bitcoin is the core of the future global financial system." Meanwhile, The Smarter Web Company previously announced a 10-year BTC acquisition plan.

Asset management firm CoinShares has reportedly submitted an application (S-1) for a Solana (SOL) spot Exchange-Traded Fund (ETF). On the 16th (local time), Bloomberg ETF analyst Eric Balchunas said on X (formerly Twitter), "This morning, CoinShares submitted a Solana spot ETF application to the U.S. Securities and Exchange Commission (SEC)," and added, "There are now eight Solana ETF applicants." However, the prospects for a rapid approval of the Solana spot ETF appear to be slim. The previous day, Bloomberg ETF analyst James Seyffart commented that "it will be difficult for the Solana spot ETF to be approved next week," noting that the approval process for Bitcoin spot ETFs also involved several months of repeated document submissions and adjustments. According to Bloomberg, the probability of Solana ETF approval within the year is projected to be 90%.