Bitcoin, Ethereum, Cosmos and More Week 13 2025

Keeping you updated on crypto, web3 and blockchain

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TL;DR

  • Strategy Surpasses 500K Bitcoin Holdings

  • GameStop to Raise $1.3B for Bitcoin

  • Custodia & Vantage Bank Launch Avit on Ethereum

  • Fidelity Brings Money Market Fund to Ethereum

  • KYVE’s Public Goods Funding Supports Blockchain Data

  • Google Cloud Joins Injective as Validator

  • Trump Administration Plans Blockchain Overhaul for USAID

  • SEC Drops Charges Against Crypto Firms

and much more!

Market, Airdrop & Memecoin Update

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Bitcoin Highlights of the Week

GameStop plans to issue $1.3 billion in convertible senior notes maturing in 2030 to acquire Bitcoin, following MicroStrategy’s strategy. This marks a major shift in its corporate treasury approach, leveraging debt to optimize Bitcoin holdings despite having $4.7 billion in cash reserves.

The move positions GameStop alongside firms using Bitcoin as a strategic asset, reinforcing its commitment to digital assets. By following Michael Saylor’s playbook, the retailer aims to capitalize on Bitcoin’s long-term potential while utilizing debt financing to maximize its exposure to the cryptocurrency.

The Blockchain Group has made its largest Bitcoin purchase, adding 580 BTC for €47.3 million, bringing total holdings to 620 BTC. As Europe’s first corporate Bitcoin treasury, its stock (ALTBG) has surged 256% since adopting a BTC reserve strategy in November 2024.

The move aligns with growing institutional adoption, as GameStop also announced Bitcoin investments. Analysts predict a breakout above $87,600 could push BTC to $95,000. Meanwhile, U.S. states are increasingly exploring Bitcoin reserve strategies, reinforcing its legitimacy as a treasury asset. This marks another major step in Bitcoin’s mainstream financial integration.

Arizona has advanced five Bitcoin-related bills, including measures to invest up to 10% of public funds in BTC, accept crypto for taxes, and recognize Bitcoin as legal tender. Lawmakers also pushed forward a bill regulating Bitcoin ATMs to combat fraud.

While none have been enacted yet, all have passed key legislative stages, positioning Arizona as a leader in state-level Bitcoin adoption. With other states exploring similar strategies, this move underscores growing institutional interest in Bitcoin as a financial asset. Final votes and potential governor approval will determine the fate of these groundbreaking proposals.

Michael Saylor’s Strategy acquired 6,911 BTC for $584 million, pushing its total holdings past 500,000 BTC at an average cost of $66,608 per coin. This latest purchase follows the company’s $711 million stock offering, reinforcing its aggressive Bitcoin accumulation strategy.

Despite global tariff concerns impacting risk assets, Strategy continues to buy the dip, aligning with growing institutional interest in Bitcoin. With ETF inflows rebounding, Strategy remains the largest corporate Bitcoin holder, positioning itself as a dominant player in the digital asset market amid ongoing economic uncertainties.

Japanese investment firm Metaplanet has acquired 150 BTC for $12.6 million, reinforcing its commitment to Bitcoin accumulation. The purchase follows the appointment of Eric Trump to its advisory board, signaling a strategic pivot toward digital assets.

Metaplanet aims to hold 10,000 BTC by year-end, reflecting the increasing institutional interest in Bitcoin as a hedge against traditional markets. This move aligns with a broader trend of corporations and financial firms leveraging Bitcoin for long-term value preservation, further strengthening Bitcoin’s position as a key asset in institutional portfolios.

Ethereum Highlights of the Week

Custodia Bank and Vantage Bank have launched Avit, the first U.S. bank-issued stablecoin on Ethereum. Avit tokenizes demand deposits, ensuring compliance with banking regulations while leveraging Ethereum’s ERC-20 standard for issuance and transfers. Custodia CEO Caitlin Long emphasized that Avit represents “real dollars,” distinguishing it from synthetic stablecoins.

Ethereum supporters celebrated the network’s selection for this milestone. With over $125.8 billion in stablecoins and $3.6 billion in tokenized U.S. Treasuries, Ethereum continues to dominate blockchain finance. This marks a pivotal step in integrating traditional banking with decentralized finance.

Celo has officially shifted from a Layer-1 blockchain to an Ethereum Layer-2 network using Optimism’s rollup technology. This upgrade enhances security, scalability, and liquidity by anchoring Celo transactions to Ethereum while maintaining one-second block times and low fees.

The transition preserves Celo’s history and reduces code complexity, making it more efficient. By leveraging Ethereum’s network effects, Celo strengthens interoperability with Ethereum-native applications, reinforcing its alignment with the broader ecosystem. This move positions Celo as a key player in Ethereum’s Layer-2 scaling landscape.

Fidelity Investments is launching an Ethereum-based share class, “OnChain,” for its Treasury money market fund. While shares will be recorded on the blockchain, traditional book-entry records remain the official ledger. The move aims to enhance transparency and efficiency without tokenizing underlying Treasuries.

This aligns Fidelity with BlackRock and Franklin Templeton in the growing $4.77B tokenized Treasuries market. The initiative, pending SEC approval, is set to go live on May 30. A separate Delaware filing hints at a potential Solana-based product, signaling Fidelity’s deeper push into blockchain-powered financial instruments.

Ethereum developers are gearing up for the last Pectra test on the Hoodi testnet after setbacks on Holesky and Sepolia delayed the upgrade. If successful, Pectra could go live on the mainnet by April 25. Developers faced unexpected validator issues, straining consensus layer teams.

Despite the hurdles, Ethereum’s ecosystem is advancing, with the Dencun upgrade slashing gas fees by 95%, reaching a historic low of 0.28 gwei. The upcoming test is crucial for ensuring Pectra’s smooth deployment, marking another milestone in Ethereum’s ongoing network enhancements.

Coinbase now operates 120,000 Ethereum validators, controlling 3.84 million ETH—over 11% of staked supply—raising concerns about network centralization. With institutional staking on the rise, Coinbase’s dominance could intensify, potentially increasing censorship risks. Unlike Lido, which distributes stake across multiple operators, Coinbase remains a single entity.

Some industry leaders warn that too much reliance on regulated custodians could make Ethereum resemble traditional finance. However, Robinhood’s growing crypto infrastructure may provide competition. As Ethereum adoption accelerates, balancing decentralization with institutional participation remains a critical challenge for the network’s future.

Cosmos Highlights of the Week

Google Cloud has officially become a validator on Injective, bringing enterprise-grade infrastructure, real-time blockchain data access, and developer tools to the ecosystem. The collaboration includes an $INJ faucet for testnet tokens, educational modules, and support for Injective’s AI Agent Hackathon.

Additionally, Injective’s blockchain data is now available on Google Cloud’s BigQuery, ensuring real-time updates. This integration strengthens Injective’s institutional readiness for tokenization and finance, solidifying its role as a hub for Web3 development.

Numia has partnered with Dune to integrate Cosmos blockchain data into Dune’s analytics platform. This collaboration enhances data accessibility for projects like Cosmos Hub, Celestia, and Osmosis, enabling custom dashboards and deep insights.

Numia’s indexing technology streamlines onchain data distribution, empowering analysts and developers to make data-driven decisions. Initially tested with Sei Network, this partnership now accelerates Cosmos ecosystem adoption on Dune, bridging gaps in blockchain data analysis. With plans to expand beyond Cosmos, Numia and Dune are setting a new standard for onchain transparency and accessibility.

Injective has joined the Blockchain Association alongside Coinbase and Circle to advocate for pro-crypto policies in the US. This move strengthens Injective’s role in shaping regulatory frameworks crucial for DeFi, securities, NFTs, and stablecoins.

The Blockchain Association has been instrumental in advancing digital asset policy, ensuring a balance between regulation and innovation. By joining, Injective reinforces its commitment to fostering a competitive and consumer-friendly blockchain ecosystem while pushing for policies that position the US as a leader in crypto innovation.

KYVE Network’s Public Goods Funding (PGF) Program enables blockchains to access trustless, scalable data while ensuring long-term sustainability. The KYVE Foundation has already supported over 10TB of blockchain data from Cosmos Hub, Axelar, and Cronos, covering costs via grants and validator commissions.

Validators running Public Good nodes help maintain KYVE’s decentralized data pools, with governance deciding on funding allocations. Eight chains have joined in six months, reinforcing KYVE’s mission to secure blockchain data. By participating, projects can efficiently manage historical data while expanding decentralized, trustless Web3 infrastructure.

Nillion has launched its Alpha Mainnet and $NIL token, marking a major step toward a privacy-first internet. Powered by Blind Compute, Nillion enables secure data processing without exposure, reshaping digital privacy for AI and Web3 applications.

Users can now build with Blind Modules, interact with the ecosystem, stake $NIL with Genesis Validators, and transfer $NIL across wallets. This milestone sets the foundation for a decentralized, privacy-centric internet, ensuring security and trust in the AI era. The launch is just the beginning, inviting developers to help redefine online privacy.

Other Highlights of the Week

The SEC has officially closed its investigations into Crypto.com and Kraken without taking enforcement action, marking a shift in regulatory pressure on major crypto exchanges. This decision follows months of scrutiny, including a Wells notice issued to Crypto.com.

The move signals a potential softening of the SEC’s stance toward the industry, as previous regulatory actions fueled uncertainty. The crypto community sees this as a positive development, reinforcing confidence in regulatory clarity for exchanges operating in the U.S. As the landscape evolves, attention now turns to future SEC policies on digital assets and compliance.

The Trump administration is set to restructure USAID, rebranding it as U.S. International Humanitarian Assistance and placing it under the Secretary of State’s authority. A key part of the overhaul includes integrating blockchain technology into the agency’s procurement system to enhance security, transparency, and traceability of aid distribution.

The initiative aims to enforce performance-based payments and improve oversight. While it remains unclear if cryptocurrency will play a role, the move aligns with broader government efficiency goals. USAID payments have been frozen since January under an executive order, signaling a major shift in U.S. foreign aid strategy.

Sam Bankman-Fried has been transferred to the Oklahoma City Federal Transfer Center after an unsanctioned interview with Tucker Carlson. The FTX founder’s relocation is part of the process to assign him to a permanent facility, likely closer to his family in the Bay Area.

The move follows concerns over media access and security after the interview, highlighting the continued scrutiny surrounding his case. This development underscores the broader implications of high-profile financial crimes and the restrictions placed on convicted individuals engaging with the media.

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