PA Daily | Truth Social denies rumors of launching a new meme coin; 17 wallets out of 220 holders before Trump dinner have cleared TRUMP tokens

Today's news tips:

Hong Kong crypto investment firm Animoca Brands is planning a New York IPO

Dubai to Accept Cryptocurrency Payments for Government Services in Partnership with Crypto.com

GD Culture Group, a listed company, announced that it will invest $300 million to establish a reserve of cryptocurrencies such as Bitcoin and TRUMP

Truth Social Denies Rumors of Launching a New Meme Coin

Moonshot announces the launch of IKUN ($IKUN), CreatorBuddy ($BUDDY) , and Launch Coin on Believe ($LAUNCHCOIN)

A whale deposited another 10 million USDC into HyperLiquid to increase its short positions on BTC, ETH, and SOL

Four wallets withdrew approximately $23.82 million of NEIRO from CEX in 4 days, accounting for 24.2% of the total supply

17 wallets out of the top 220 holders of Trump’s dinner have liquidated TRUMP tokens

Regulatory/Macro

Arizona governor vetoes two cryptocurrency bills, signs one targeting ATM fraud

According to Decrypt, Arizona Governor Katie Hobbs vetoed two crypto-related bills on Monday, including SB 1024 to establish a digital asset strategic reserve fund and SB 1373 to allow government agencies to accept crypto payments. Hobbs said in her veto letter that the crypto market is too volatile and is not suitable as an option for public funding. She had previously vetoed SB 1025, which allowed state finances to allocate 10% of their funds to Bitcoin, making the state the 10th state in the United States to veto similar proposals. Hobbs also signed HB 2387, which proposes to strictly regulate crypto ATMs, requiring operators to provide multilingual fraud warnings, transaction hash receipts, and implement daily transaction limits ($2,000/day for new users and $10,500/day for old users). However, Hobbs just signed Bill 2749 last week, allowing the government to keep unclaimed digital assets in their original form, showing that it is still cautious and open to crypto regulation.

Hong Kong crypto investment firm Animoca Brands is planning a New York IPO

According to the Financial Times, Hong Kong crypto investment company Animoca Brands is planning to go public in New York. Co-founder Yat Siu said that the Trump administration's loose regulation of crypto assets has provided a "unique opportunity" to enter the world's largest capital market. Animoca was previously valued at nearly $6 billion, and its investment portfolio includes companies such as OpenSea, Kraken and Consensys. Yat Siu said that the company had not considered going public in the United States last year, but now "the US market has become unmissable." Animoca said it is considering various equity structures and the listing announcement "may be released soon."

Japanese listed company Metaplanet announced the issuance of $15 million interest-free ordinary bonds to increase its holdings of Bitcoin

According to an official announcement, Japanese listed company Metaplanet announced the issuance of $15 million interest-free ordinary bonds to purchase additional BTC.

Dell rejects shareholder proposal to add Bitcoin to company coffers

Dell has formally rejected a shareholder proposal that would have added Bitcoin to its treasury. In a May 9 response letter, Dell said proposals that "dig into complex matters that prevent shareholders from making informed decisions and thus improperly micromanage the company" could be excluded. The proposal's statement of support exposed the proposer's attempt to micromanage management's discretion in managing the company's cash and structuring its investments, arguing that Dell should consider replacing some of its cash and bonds with assets that can outperform inflation, such as Bitcoin. But staff have previously pointed out that stipulating the form of a company's investments would improperly limit management's discretion in ordinary business matters. Whether it requires investment in cryptocurrency assets or divests such assets, the proposal improperly limits management and the board's autonomy in managing the company.

Dubai to Accept Cryptocurrency Payments for Government Services in Partnership with Crypto.com

According to Finance Magnates, the Dubai government has signed a cooperation agreement with the crypto platform Crypto.com, which will allow residents and businesses to use cryptocurrencies to pay for government services. The plan relies on Crypto.com's technical facilities to enable instant conversion of digital assets into dirhams and transfer to government accounts. Amna Mohammed Lootah, director of the Dubai Digital Payment System Regulatory Authority, said the goal is to make more than 90% of public and private transactions cashless by 2026. This move is an important part of Dubai's economic agenda D33 plan, which aims to consolidate its position as a global financial innovation center.

Viewpoint

Analysis: Bitcoin network expansion and increased demand will support higher Bitcoin prices

According to a chart released by Matrixport today, the security of the Bitcoin network is increasing, mainly due to the increase in computing power and the accumulation of Bitcoin by enterprises. As competition among miners intensifies, Bitcoin's computing power continues to rise, with annual capital expenditures expected to reach $10 billion to $12 billion. This competition not only strengthens network security, but also promotes diversified development. Historical data shows that increases in mining capital expenditures are generally associated with rising Bitcoin prices. On the other hand, corporate buyers like MicroStrategy are acquiring and holding Bitcoin, effectively reducing the circulating supply. This dynamic suggests that Bitcoin prices may need to rise until computing power reaches a peak, which has not yet occurred. Taken together, these factors indicate that the Bitcoin network is expanding and demand is growing, both of which ultimately support rising Bitcoin prices.

Latvian Economy Minister: Building a Strategic Bitcoin Reserve is “Just a Matter of Time”

According to crypto KOL @pete_rizzo_, Latvia’s Minister of Economy said that establishing a strategic Bitcoin reserve is “only a matter of time” and “I don’t think it will bring significant risks.”

GD Culture Group, a listed company, announced that it will invest $300 million to establish a reserve of cryptocurrencies such as Bitcoin and TRUMP

According to Globenewswire, GD Culture Group Limited (NASDAQ: GDC) and its subsidiary AI Catalysis Corp. announced that it has entered into a common stock purchase agreement with a qualified investor of a British Virgin Islands limited liability company, providing for the company to sell up to $300 million worth of its common stock. The proceeds from the financing will be used to support the company's crypto asset funding strategy, including the purchase of Bitcoin and the official Trump coin (TRUMP). Under the plan, subject to certain restrictions, GDC plans to use a large portion of the proceeds from any share sale under the financing for acquisitions, long-term holdings, and integration of crypto assets into its core funding operations. It is reported that GD Culture Group Limited is a Nevada company whose main businesses include AI-driven digital human technology and live e-commerce business.

Project News

Binance will launch ZKJUSDT and SKYAIUSDT perpetual contracts

Binance announced that it will launch two new USDⓈ-margin perpetual contracts to expand trading options and enhance user experience. The specific launch time is 17:30 Beijing time on May 13, 2025, the ZKJUSDT perpetual contract will be launched with a maximum leverage of 25 times; 17:45 Beijing time will be launched with a maximum leverage of 50 times. ZKJ and SKYAI are already listed on the Binance Alpha market.

Bithumb to List SXT Token in Korean Won Market

South Korean crypto exchange Bithumb will list Space and Time (SXT) in the Korean won market, according to an official announcement.

UXLINK proposes a strategic investment reserve proposal, initially including Bitcoin and UXLINK tokens

Web3 social platform UXLINK announced a strategic investment reserve proposal on the X platform, proposing to allocate 10%-20% of profits to a strategic reserve fund, initially in the form of Bitcoin and UXLINK tokens (UXLINK). Currently, UXLINK is initiating a vote on the X platform to solicit community opinions, with a current support rate of 90.3%, and the vote will end in two days.

Moonshot announces the launch of IKUN ($IKUN)

Moonshot announced the listing of IKUN ($IKUN). The token runs on the Solana chain and currently has a market cap of $9.4 million and a 24-hour trading volume of $66.6 million.

Moonshot announces the launch of CreatorBuddy ($BUDDY)

Moonshot announced the launch of CreatorBuddy ($BUDDY). The token runs on the Solana chain and currently has a market cap of $7.6 million and a 24-hour trading volume of $5.8 million.

Moonshot announces the launch of LAUNCHCOIN

Moonshot announced the launch of Launch Coin on Believe ($LAUNCHCOIN). The token runs on the Solana chain and currently has a market value of $51.3 million and a 24-hour trading volume of $22.7 million.

Truth Social Denies Rumors of Launching a New Meme Coin

Truth Social denies rumors of launching a new meme coin.

Important data

Hashed deposited 18.45 million SAND to Binance 2 hours ago, worth $6.3 million

According to Lookonchain monitoring, Hashed deposited 18.45 million SAND to Binance two hours ago, worth about $6.3 million. Hashed is known for its buy low and sell high strategy. Last month, they withdrew 11.36 million SAND from Binance at $0.26, which was worth $2.9 million at the time. Since then, the price of SAND has risen by 35%.

Four wallets withdrew approximately $23.82 million of NEIRO from CEX in 4 days, accounting for 24.2% of the total supply

According to Spot On Chain monitoring, four wallets that may belong to the same entity have withdrawn 241.71 million NEIRO from Gate.io and Bybit in the past four days, worth $23.82 million, accounting for 24.2% of the total supply. These wallets have now become the 1st, 3rd, 4th and 7th largest holders of NEIRO in decentralized exchanges.

Abraxas Capital borrowed 240 million USDT from Aave in the past 24 hours and deposited it in Binance

According to Lookonchain monitoring, Abraxas Capital borrowed 240 million USDT from Aave in the past 24 hours and deposited it in Binance.

17 wallets out of the top 220 holders of Trump’s dinner have liquidated TRUMP tokens

According to Reuters, Trump promised that the top 220 holders of TRUMP coins will be invited to a grand dinner, and the top 25 will also enjoy an "ultra-exclusive private VIP reception" and a "special VIP trip." However, data shows that 17 wallet addresses of the top 220 holders of the TRUMP dinner have been liquidated, and the 25th-ranked whale "noah" has also previously liquidated his TRUMP tokens. The current number one is a wallet called "SUN", whose time-weighted holdings are worth nearly $18 million. Arkham previously stated that the wallet is owned by HTX, and cryptocurrency entrepreneur Justin Sun is a member of the HTX Global Advisory Board.

FTX/Alameda address will distribute and transfer 187,000 SOL redeemed from staking to 27 addresses in the early morning

According to on-chain analyst Ember’s monitoring, the FTX/Alameda address distributed and transferred 187,000 SOL (about 32.2 million U.S. dollars) redeemed from staking to 27 addresses 7 hours ago. According to previous records, most addresses that received SOL will subsequently transfer SOL to Coinbase or Binance. Since November 2023, the FTX/Alameda staking address has redeemed and transferred out a total of 8.218 million SOL (1.062 billion U.S. dollars) in the above method, with an average transfer price of 129 U.S. dollars. Currently, the FTX/Alameda staking address still has 5.205 million SOL (893 million U.S. dollars) pledged.

The top 220 wallets holding Trump dinner positions hold a total of approximately $174 million worth of TRUMP tokens

According to Cointelegraph, the list of top holders of US President Donald Trump's Meme coin has been determined and they will undergo background checks to apply for dinner and "VIP tours" with the president on May 22. According to data provided by the project's leaderboard, as of May 12, the top 220 wallets held more than 13.7 million TRUMP tokens, worth about $174 million at the price at the time of publication. It is unclear whether any of these wallet holders will choose to apply and attend the Trump dinner event. A report from Bloomberg on May 7 pointed out that most of the token holders are located outside the United States, which raises potential security issues and conflicts of interest.

A whale deposited another 10 million USDC into HyperLiquid to increase its short positions on BTC, ETH, and SOL

According to Onchain Lens, a whale once again deposited 10 million USDC into HyperLiquid, increasing its short positions on BTC, ETH, and SOL with 5x leverage. Its total deposits have reached 50.5 million USDC, its short position on BTC is worth more than $109 million, and the total value of all short positions is more than $230 million.

Financing

The Blockchain Group Closes Over €22 Million in Funding to Accelerate Its Bitcoin Funding Strategy

European listed company The Blockchain Group (ALTBG) completed two rounds of financing totaling more than 22 million euros within a week. On May 9, it raised 9.9 million euros through equity financing, with an issue price that was 61.7% higher than the 20-day average price. Investors included Tobam, Generali Ambition Solidaire, Jean-Marie Formigé, Quadrille Capital, EFG Bank, VP Bank, etc. On May 12, it issued 12.1 million euros of Bitcoin-denominated convertible bonds through its Luxembourg subsidiary, which was fully subscribed by Blockstream CEO Adam Back, and the issue price was 30% higher than the first batch of conversion prices.

Blockchain cloud computing company Nirvana Labs completes $6 million seed extension round of financing, led by Jump Crypto and others

Blockchain cloud computing company Nirvana Labs has completed a $6 million seed extension round of financing, led by Jump Crypto and Crucible Capital, with participation from RW3 Ventures, Castle Island and Hash3 VC, bringing its total financing to $11.8 million. The company provides computing services tailored for the encryption field. Unlike traditional cloud service providers that centralize computing resources, Nirvana uses bare metal infrastructure, with each server serving only one client. Nirvana has served infrastructure providers such as BitGo and Fireblocks, and protocol foundations such as Avalanche and Berachain. Nirvana also plans to serve as a front-end service to help organizations deploy on Internet filtering startup DoubleZero.

Foreign media: Perplexity's valuation soars to $14 billion in a new round of $500 million financing

According to the Wall Street Journal: Artificial intelligence company Perplexity's valuation soared to $14 billion in a new round of $500 million financing.

Layer0 blockchain infrastructure platform Openverse Network completes $11 million in strategic financing

Layer0 blockchain infrastructure platform Openverse Network recently announced the completion of a strategic financing of US$11 million, with investors including Castrum Capital, TB Ventures, DuckDAO and Asva Capital. This round of financing will accelerate its core protocol development and mainnet upgrades, supporting cross-chain communication, unified identity, timestamp and naming services and other functions. The Openverse mainnet TPS exceeds 300,000, supports multiple token standards such as VRC10/11/12, and is committed to building a programmable, efficient and secure global value Internet.

Strategy purchased 13,390 bitcoins for $1.34 billion last week

Strategy purchased 13,390 bitcoins at an average price of $99,856 between May 5 and 11, 2025, totaling $1.34 billion, with funds coming from its ATM equity financing plan. As of May 11, the company held a total of 568,840 bitcoins, with a cumulative purchase cost of $39.41 billion and an average purchase price of $69,287. Michael Saylor said the company has achieved a 15.5% return on bitcoin so far in 2025.

David Bailey and his company Nakamoto raise $710 million and merge with KindlyMD to build a Bitcoin vault

David Bailey and his Bitcoin-native holding company Nakamoto have officially announced a merger with healthcare provider KindlyMD (NASDAQ: KDLY), and will establish a public market Bitcoin Treasury through the merger. According to the official press release, the transaction raised a total of US$710 million, including US$510 million in PIPE financing and US$200 million in convertible bonds, making it the largest public crypto transaction PIPE financing to date. This PIPE financing attracted more than 200 institutions from six continents around the world, including Actai Ventures, Arrington Capital, Van Eck, and well-known Bitcoin figures such as Adam Back, Jihan Wu, and Balaji Srinivasan; the convertible bonds were exclusively subscribed by YA II PN, Ltd., a fund under Yorkville Advisors.