Cryptocurrencies

Trump Media plans $2.5 billion Bitcoin treasury

Trump Media & Technology Group has announced plans to raise approximately $2.5 billion through a private placement. The aim is to create one of the largest corporate Bitcoin treasuries.

The company operates Truth Social and Truth+. It intends to acquire significant Bitcoin holdings alongside its reported $759 million in cash and equivalents as of the first quarter of 2025.

Capital raising round comprises $1.5 billion in common stock and $1 billion in convertible notes, priced at a 35% premium. Transaction should conclude by 29 May, with funds used to buy Bitcoin and grow company’s crypto holdings.

Trump Media’s CEO, Devin Nunes, described Bitcoin as a ‘financial freedom’ asset and a strategic hedge against what he referred to as ‘harassment and discrimination’ by traditional financial institutions.

The company plans to integrate its Bitcoin strategy across its platforms, including subscription fees and a potential utility token.

The development places Trump Media among few public companies investing heavily in Bitcoin, reflecting a rising trend of corporates adopting crypto in their treasury.

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El Salvador removes Bitcoin mandate

El Salvador has officially amended its Bitcoin law, making acceptance of the cryptocurrency voluntary rather than mandatory.

The move reverses a key element of the 2021 law that made Bitcoin legal tender alongside the US dollar.

The reform was approved by Congress on 29 January, with 55 votes in favour and just two against. The chamber is currently dominated by President Nayib Bukele’s New Ideas Party.

According to officials, the amendment responds to requirements set by the International Monetary Fund as part of a US$1.4 billion loan agreement reached in December 2024.

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New Circle system aims to speed up global money transfers

Circle Internet Group is developing a new global payment network. The company, known for issuing the second-largest stablecoin, aims to facilitate seamless cross-border transfers. However, the project will rely on stablecoins to enable real-time international settlement.

The planned network will connect banks, digital wallet providers, and financial technology firms, allowing instant movement of funds across borders.

Circle aims to improve the efficiency of international payments while reducing associated costs.

There is growing interest in stablecoin infrastructure from both cryptocurrency-focused and traditional financial institutions. Circle’s initiative signals the expanding role of digital assets in modernising global finance.

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UK leads crypto adoption growth in 2025

The United Kingdom has recorded the fastest growth in cryptocurrency adoption globally in 2025. The finding comes from a new report by Gemini, the crypto exchange based in the United States.

The proportion of UK adults holding cryptocurrencies rose to 24% in April, up from 18% a year earlier, marking the sharpest year-on-year increase among the countries surveyed.

The report, based on a survey of more than 7,000 people across Europe, the United States, Singapore, and Australia, shows that Europe is leading the rise in cryptocurrency ownership.

Singapore continues to hold the highest individual rate, with 28% of respondents reporting ownership of cryptocurrencies.

Despite not yet having a national regulatory framework in place, the UK remains attractive to investors. In April, the government published a draft statutory instrument aimed at regulating crypto exchanges and related services.

The Treasury is expected to finalise the near-final version later in 2025 following public consultation.

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Iranian hacker admits role in Baltimore ransomware attack

An Iranian man has pleaded guilty to charges stemming from a ransomware campaign that disrupted public services across several US cities, including a major 2019 attack in Baltimore.

The US Department of Justice announced that 37-year-old Sina Gholinejad admitted to computer fraud and conspiracy to commit wire fraud, offences that carry a maximum combined sentence of 30 years.

Rather than targeting private firms, Gholinejad and his accomplices deployed Robbinhood ransomware against local governments, hospitals and non-profit organisations from early 2019 to March 2024.

The attack on Baltimore alone resulted in over $19 million in damage and halted critical city functions such as water billing, property tax collection and parking enforcement.

Instead of simply locking data, the group demanded Bitcoin ransoms and occasionally threatened to release sensitive files. Cities including Greenville, Gresham and Yonkers were also affected.

Although no state affiliation has been confirmed, US officials have previously warned of cyber activity tied to Iran, allegations Tehran continues to deny.

Gholinejad was arrested at Raleigh-Durham International Airport in January 2025. The FBI led the investigation, with support from Bulgarian authorities. Sentencing is scheduled for August.

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Decentralised AI could outgrow Bitcoin

Early blockchain adopters are now focusing on decentralised AI, with ecosystems like Bittensor (TAO) leading the way. These platforms allow ideas to gain support and funding from the community without relying on traditional venture capital.

Chris Miglino, CEO of DNA Fund, highlighted the firm’s AI compute fund, which has invested around $50 million in Bittensor’s ecosystem. The network’s unique subnets create specialised marketplaces for AI applications, attracting developers and miners alike.

Decentralised AI, which runs on distributed networks rather than central authorities, is DNA House’s main focus. Miglino believes it could become bigger than Bitcoin, reshaping society in profound ways.

DNA Fund supports developers to launch projects within the ecosystem without needing large venture capital investments. Decentralised AI is widely seen as the future, with pioneers like Ben Goertzel supporting it since the early 1990s.

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Nordic shift to cash sparks crypto debate

Sweden and Norway are urging citizens to keep using cash amid rising fears of cyberattacks and geopolitical instability. Once global leaders in cashless transactions, both countries are now rethinking their heavy reliance on digital payments.

The move comes as concerns grow over potential network failures and the need for resilient offline alternatives.

Vitalik Buterin, co-founder of Ethereum, has weighed in on the issue, highlighting the risks of centralised systems. He argued that the fragility of such infrastructures makes physical cash essential during crises.

However, he also sees a future role for Ethereum, if the network becomes robust, private, and decentralised enough to function as a reliable alternative.

For Ethereum to support national payment systems in emergencies, Buterin noted that it must improve its resilience and privacy. The platform has added upgrades, but challenges like scalability and high transaction costs still hinder mass adoption.

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Quantum computers might break Bitcoin security faster than thought

Google researchers have revealed that breaking RSA encryption—the technology securing crypto wallets—requires far fewer quantum resources than previously thought. The team found cracking 2048-bit RSA could take under a week using fewer than a million noisy qubits, 20 times less than previously estimated.

Currently, quantum computers like IBM’s Condor and Google’s Sycamore operate with far fewer qubits, so crypto assets remain safe for now. The significance lies in the rapid pace of improvement in quantum computing capabilities, which calls for increased vigilance.

The breakthrough stems from improved algorithms that speed up key calculations and smarter error correction methods. Researchers also enhanced ‘magic state cultivation,’ a technique that boosts quantum operation efficiency by reducing resource waste.

Bitcoin relies on elliptic curve cryptography, similar in principle to RSA. If quantum computers can crack RSA sooner, Bitcoin’s security timeline could be shortened.

Efforts like Project 11’s quantum Bitcoin bounty highlight ongoing research to test the threat’s urgency.

Quantum threats extend beyond crypto, affecting global secure communications, banking, and digital signatures. Google has begun encrypting more traffic with quantum-resistant protocols in preparation for this shift.

Despite rapid progress, challenges remain. Quantum computers must maintain stability and coherence for long periods to execute complex operations. Currently, this remains a major hurdle, so there is no immediate threat.

It seems likely the first quantum-resistant blockchain upgrades will arrive well before any quantum attack on Bitcoin’s network.

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Coinbase expands altcoin support in Germany

Coinbase has introduced eight new cryptocurrencies for its users in Germany, expanding access to assets through its website and mobile apps. The supported tokens include Rocket Pool (RPL), Pudgy Penguins (PENGU), Renzo (REZ), Reserve Rights (RSR), Aethir (ATH), Syrup (SYRUP), Pendle (PENDLE), and Layer3 (L3).

Users can now buy, sell, convert, and store these tokens using the exchange’s licensed platform.

Some tokens saw notable price movement following the announcement. Aethir’s token surged more than 12% to $0.052, while Rocket Pool rose by roughly 3% to $4.71. However, Syrup and Pendle, which had surged recently, declined despite the news.

Pendle remains a top 100 token by market capitalisation, with a value exceeding $700 million.

Coinbase’s expansion follows its 2021 approval by Germany’s financial regulator, BaFin. It became the first exchange to receive a crypto custody licence in the country.

The company has since continued to grow in Europe, acquiring Cyprus-based brokerage Bux in January 2025 to secure a MiFID II licence and enhance its regional presence.

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Pakistan appoints crypto advisor amid push for Bitcoin mining

Pakistan has named Bilal Bin Saqib special assistant to the prime minister on blockchain and cryptocurrency. He is also chief advisor to the finance minister and CEO of the Pakistan Crypto Council.

Bin Saqib studied at the London School of Economics and was honoured with an MBE.

The government plans to use 2,000 megawatts of surplus electricity for Bitcoin mining. The move aims to generate revenue, create tech jobs, and attract foreign investment.

Former Binance CEO Changpeng Zhao joined the crypto council as an advisor in April.

Despite the push, concerns remain. Foreign direct investment dropped sharply last year. Pakistan has hired a US lobbyist and engaged with World Liberty Financial, a crypto project linked to Donald Trump.

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