Paul Atkins

Celsius

Pudgy Penguins

President Donald Trump

Nexo

<p>Today’s edition of the weekly recap covers Strategy’s continued Bitcoin purchases, Nexo’s return to the U.S. after a hiatus, and the latest on Celsius founder Alex Mashinsky’s trial.</p>
<h3 class="wp-block-heading" id="strategy-buys-more-bitcoin">Strategy buys more Bitcoin</h3>
<ul>
 <li>The company, previously known as MicroStrategy, <a href="https://crypto.news/strategy-acquires-15355-more-bitcoin-for-1-4b-holdings-top-550k-btc/" target="_blank" rel="noopener noreferrer nofollow">spent</a> over $1.42 billion on 15,355 BTC, with an average price of $92,737 per Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>). Strategy’s total Bitcoin holdings are 553,555 BTC, about 2.5% of the total supply.</li>
 <li>In an earnings call on May 1, Strategy executive chair <a href="https://crypto.news/janover-buys-more-sol-amid-saylor-inspired-strategy/" rel="noopener noreferrer nofollow">Michael Saylor</a> dismissed Bitcoin’s volatility concerns and <a href="https://crypto.news/michael-saylor-reveals-key-strategy-insights-on-q1-2025-earnings-call/" rel="noopener noreferrer nofollow">celebrated</a> the fact that over 70 public companies are taking part in the so-called “digital gold rush.”</li>
 <li>Strategy is <a href="https://crypto.news/strategys-btc-gains-prompt-bullish-521-price-target-from-h-c-wainwright/" rel="noopener noreferrer nofollow">expected</a> to end 2025 with 691,249 BTC, up from a prior estimate of 601,029. It’s a risky play, but analysts <a href="https://crypto.news/strategys-agressive-bitcoin-purchases-get-green-light-from-wall-street-analysts/" rel="noopener noreferrer nofollow">remain bullish</a>.</li>
</ul>
<h3 class="wp-block-heading" id="nexo-returns-to-the-us">Nexo returns to the US</h3>
<ul>
 <li>After <a href="https://crypto.news/exclusive-nexo-advances-on-2025-growth-plan-expands-card-to-new-markets/" rel="noopener noreferrer nofollow">expanding</a> to Europe, crypto lending platform Nexo officially <a href="https://crypto.news/crypto-lender-nexo-returns-to-us-two-years-after-45m-settlement-with-sec/" target="_blank" rel="noopener noreferrer nofollow">reentered</a> the U.S. after a two-year hiatus. It is expected to provide its full suite of services, including high-yield savings products and asset-backed credit lines.</li>
 <li>Nexo paused U.S. operations after <a href="https://crypto.news/nexo-reaches-22-5m-settlement-with-us-sec/" rel="noopener noreferrer nofollow">settling</a> a $45 million fine with the U.S. Securities and Exchange Commission (SEC) over its unregistered lending product.</li>
</ul>
<p>You might also like: <a href="https://crypto.news/heres-why-xrp-market-cap-will-flip-ethereum-in-2025/" rel="noopener noreferrer nofollow"> Here’s why XRP market cap will flip Ethereum in 2025 </a></p>
<h3 class="wp-block-heading" id="regulations-and-prosecutions">Regulations and prosecutions</h3>
<ul>
 <li>Federal prosecutors have <a href="https://crypto.news/celsius-mashinsky-faces-20-years-behind-bars-in-multi-billion-fraud-case/" target="_blank" rel="noopener noreferrer nofollow">requested</a> that former Celsius Network founder Alex Mashinsky receive a 20-year prison sentence. Some investors who lost savings when the crypto lender collapsed are <a href="https://crypto.news/victims-of-failed-crypto-lender-celsius-push-for-life-sentence-for-its-ceo/" rel="noopener noreferrer nofollow">demanding</a> life imprisonment.</li>
 <li>The SEC announced earlier this week that it will delay decisions on XRP (<a href="https://crypto.news/price/xrp/" target="_blank" rel="noopener noreferrer nofollow">XRP</a>) and Dogecoin (<a href="https://crypto.news/price/dogecoin/" target="_blank" rel="noopener noreferrer nofollow">DOGE</a>) ETFs. The agency set June 15 as the new decision date for the Bitwise Dogecoin ETF and June 17 for the Franklin XRP Fund.</li>
 <li>The SEC also <a href="https://crypto.news/sec-ends-investigation-into-paypals-pyusd-stablecoin/" target="_blank" rel="noopener noreferrer nofollow">ended</a> its investigation into PayPal’s PYUSD stablecoin, representing yet another instance of the agency — now led by Trump appointee Paul Atkins — withdrawing from cryptocurrency-related investigations (see <a href="https://crypto.news/dragonchain-soars-97-as-sec-moves-to-drop-long-standing-lawsuit/" target="_blank" rel="noopener noreferrer nofollow">Dragonchain</a>, <a href="https://crypto.news/coinbase-set-to-win-sec-dismissal-in-major-win-analyst-says/" target="_blank" rel="noopener noreferrer nofollow">Coinbase</a>, <a href="https://crypto.news/sec-drops-gemini-case-cameron-winklevoss-slams-regulatory-war-on-crypto/" rel="noopener noreferrer nofollow">Gemini</a>, <a href="https://crypto.news/uniswap-labs-no-longer-under-sec-scrutiny-as-agency-halts-enforcement-actions/" target="_blank" rel="noopener noreferrer nofollow">Uniswa</a> and <a href="https://crypto.news/xrp-settles-sec-xrp-price-rallies-ceo-optimistic/" rel="noopener noreferrer nofollow">Ripple</a>).</li>
 <li>Cryptocurrency exchange Coinbase <a href="https://www.supremecourt.gov/DocketPDF/24/24-922/357787/20250430105807326_24-922%20cert%20tsac%20Coinbase.pdf" target="_blank" rel="noopener noreferrer nofollow">filed an amicus brief</a> to the U.S. Supreme Court in the Harper vs IRS case, <a href="https://crypto.news/coinbase-to-supreme-court-irs-crypto-dragnet-was-unconstitutional/" rel="noopener noreferrer nofollow">advocating</a> for more privacy protections when it comes to crypto transactions.</li>
</ul>
<p>You might also like: <a href="https://crypto.news/nft-sales-jump-22-to-107m-pudgy-penguins-recover/" rel="noopener noreferrer nofollow"> NFT sales jump 22% to $107m, Pudgy Penguins recover </a></p>
<h3 class="wp-block-heading" id="trump-world">Trump World</h3>
<ul>
 <li>President Donald Trump and his family are generating billions from cryptocurrency, according to a new report from State Democracy Defenders Action. The nonprofit organization, which claims to be “fighting autocracy,” <a href="https://crypto.news/trump-family-crypto-fortune-foreign-billions-roll-in/" rel="noopener noreferrer nofollow">estimates</a> that nearly 40% of Trump’s net worth now comes from digital assets, totaling around $2.9 billion.</li>
 <li>Publicly-traded logistics firm Freight Technologies <a href="https://crypto.news/trump-memecoin-freight-technologies-invest-20-million/" rel="noopener noreferrer nofollow">struck</a> a $20 million deal with an institutional investor to purchase Official Trump (<a href="https://crypto.news/price/official-trump/" rel="noopener noreferrer nofollow">TRUMP</a>), becoming one of the first companies to anchor its digital asset strategy around the U.S. president’s memecoins.</li>
 <li>Eric Trump, executive vice president of the Trump Organization, <a href="https://crypto.news/token2049-eric-trump-believes-the-modern-financial-system-is-broken-and-crypto-will-take-over/" target="_blank" rel="noopener noreferrer nofollow">told</a> CNBC on Wednesday that banks must adopt blockchain technology to survive and that the current financial system is “broken, slow, and expensive.” He specifically called SWIFT, the global international messaging network for financial transactions, “an absolute disaster.”</li>
</ul>
<h3 class="wp-block-heading" id="ripple-explored-circle-acquisition">Ripple explored Circle acquisition</h3>
<ul>
 <li>Ripple made an unsuccessful <a href="https://crypto.news/ripples-4-5b-offer-to-acquire-circle-is-too-low-bloomberg/" target="_blank" rel="noopener noreferrer nofollow">attempt</a> to acquire Circle, the company behind USDC stablecoin, according to reports.</li>
 <li>Sources indicate Ripple remains interested in Circle but hasn’t decided whether to pursue another offer.</li>
</ul>
<p>You might also like: <a href="https://crypto.news/crypto-vc-funding-camp-network-miden-each-secure-25-million/" rel="noopener noreferrer nofollow"> Crypto VC funding: Camp Network, Miden each secure $25 million </a></p>
<h3 class="wp-block-heading" id="world-expands-biometric-crypto-program-to-us">World expands biometric crypto program to US</h3>
<ul>
 <li>The eyeball-scanning project co-founded by OpenAI CEO Sam Altman <a href="https://crypto.news/sam-altmans-world-project-debuts-in-six-american-states-along-with-visa-card/" target="_blank" rel="noopener noreferrer nofollow">announced</a> Wednesday its official U.S. launch in six major cities: Atlanta, Austin, Los Angeles, Miami, Nashville, and San Francisco.</li>
 <li>World (<a href="https://crypto.news/price/worldcoin/" target="_blank" rel="noopener noreferrer nofollow">WLD</a>) offers free cryptocurrency in exchange for biometric data.</li>
</ul>
<h3 class="wp-block-heading" id="tether-reports-1-billion-q1-profit-despite-decline">Tether reports $1 billion Q1 profit despite decline</h3>
<ul>
 <li>The stablecoin issuer <a href="https://tether.io/news/tether-approaching-120b-in-u-s-treasuries-confirms-quarterly-operating-profit-over-1b-and-strengthens-global-usdt-demand-in-q1-2025/" target="_blank" rel="noopener noreferrer nofollow">announced</a> a profit exceeding $1 billion for the first quarter of 2025.</li>
 <li>However, this figure is a decrease from Q1 2024 profits.</li>
</ul>
<h3 class="wp-block-heading" id="kraken-uncovers-north-korean-job-applicant-scheme">Kraken uncovers North Korean job applicant scheme</h3>
<ul>
 <li>Kraken <a href="https://crypto.news/crypto-exchange-kraken-flags-north-korean-infiltration-attempt-through-fake-job-application/" target="_blank" rel="noopener noreferrer nofollow">discovered</a> a job candidate suspected of being a North Korean operative during a routine remote engineering position interview.</li>
 <li>Rather than terminate the process, Kraken continued interviews to gather intelligence on the tactics used.</li>
</ul>
<h3 class="wp-block-heading" id="movement-labs-suspends-co-founder-amid-token-controversy">Movement Labs suspends co-founder amid token controversy</h3>
<ul>
 <li>The Ethereum layer-2 startup <a href="https://crypto.news/movement-labs-suspends-co-founder-amid-market-making-scandal-as-move-drops-20-amid-coinbase-delisting/" target="_blank" rel="noopener noreferrer nofollow">suspended</a> co-founder Rushi Manche following the unauthorized dumping of 66 million MOVE (<a href="https://crypto.news/price/movement/" target="_blank" rel="noopener noreferrer nofollow">MOVE</a>) tokens on the open market.</li>
</ul>
<h3 class="wp-block-heading" id="tether-plans-us-focused-stablecoin-launch">Tether plans US-focused stablecoin launch</h3>
<ul>
 <li>CEO Paolo Ardoino told CNBC the company <a href="https://crypto.news/tether-eyes-us-stablecoin-launch-later-this-year-report/" target="_blank" rel="noopener noreferrer nofollow">intends</a> to launch its U.S.-specific stablecoin by late 2025 or early 2026, depending on stablecoin legislation timeline.</li>
 <li>The planned product would complement Tether’s $148 billion USDT stablecoin while addressing U.S. regulatory requirements.</li>
</ul>
<h3 class="wp-block-heading" id="7-million-of-stolen-bitcoin-recovered">$7 million of stolen Bitcoin recovered</h3>
<ul>
 <li>On-chain sleuth ZachXBT reported that $7 million of the <a href="https://crypto.news/elderly-american-identified-as-victim-in-330m-bitcoin-theft-zachxbt/" target="_blank" rel="noopener noreferrer nofollow">$330 million stolen</a> from an “OG Bitcoiner” earlier this week has been seized.</li>
 <li>The recovery involved collaboration between multiple investigators and Binance’s security team after the stolen funds were traced through six exchanges.</li>
 <li>The thieves had attempted to launder the Bitcoin by converting portions to privacy coin Monero (<a href="https://crypto.news/price/monero/" target="_blank" rel="noopener noreferrer nofollow">XMR</a>).</li>
</ul>
<p>Read more: <a href="https://crypto.news/ripple-lawyer-explains-legal-win-after-sec-waves-white-flag-on-crypto-enforcement/" rel="noopener noreferrer nofollow"> Ripple lawyer explains legal win after SEC waves white flag on crypto enforcement </a></p>

Strategy grows Bitcoin war chest, Nexo returns to US, former Celsius CEO faces 20 years | Weekly Recap

Table of Contents

crypto.news

Other articles published on May 4, 2025

Join our free newsletter for daily crypto updates!