Crypto weekly is authored by maaria and david blumenfeld

PRICE CHANGE: WTD/YTD
- Crypto Market Cap ($3.44T): +1% / +1%
- BTC ($106,335): +1% / +14%
- ETH ($2,534): +1% / -24%
- SOL ($155): 0% / -18%
- UNI ($6.50): +5% / -51%
- OP ($0.62): -3% / -65%
- Tether Mkt Cap ($155B): +1% / +12%
- USDC Mkt Cap ($61B): 0% / +39%
- BTC / ETH Dominance: 61% / 9%

THIS WEEK IN CRYPTO
- USDC stablecoin issuer Circle (“CRCL”) raised $1.1 billion in a 3x oversubscribed IPO that valued the company at $8.7 billion. Circle shares rose 247% in the first few days of trading and held a fully diluted market cap of around $21.6 billion by COB Friday. Circle’s USDC made up about 29% of the stablecoin market at the end of March. Link. Link. 

- Crypto exchange Gemini, founded by the billionaire Winklevoss twins, filed to go public. Link. 

- Social media platform X is partnering with crypto-based predictions market platform Polymarket to provide data-driven insights and recommendations from social media posts to the predictions platform. Link. Link. 

- South Korea elected pro-crypto candidate Lee Jae-myung as its new President. Lee’s crypto pledge includes support for spot crypto ETFs, which are currently banned. Link. 

- Solana memecoin platform Pump.Fun plans to raise $1 billion in a token sale that would value the startup at $4 billion. Link. Link. 

- DeFi protocol Hyperliquid recorded $248 billion in perp trading volumes in May, an all-time high that represents an 843% y-o-y increase and 10% over 10% of Binance’s monthly perp volumes. Link. 

- Uber is looking into using stablecoins as a way to transfer money globally. Link. 

- US spot Ether ETFs saw $812 million of inflows, its strongest run in 2025. Link. 

- UK’s financial regulator is proposing lifting a ban on retail investors buying cryptocurrency ETFs. Link. 

- The Ethereum Foundation is restructuring it’s R&D teams into a new “Protocol” division focused on accelerating improvements to scaling the L1, scaling blobs (used by L2s to post data to L1) and overall user experience. Ethereum researcher Dankrad Feist will advise the new division. Link. Announcement.

- Yuga Labs proposed replacing its current ApeCoin DAO structure with an entirely new entity, ApeCo. Link. Link. 

- Crypto gaming company Mythical Games will include Adidas-branded digital assets in the release of its FIFA mobile crypto game. Link. 

- The Blockchain Regulatory Certainty Act, which exempts non-custodial crypto platforms from operating as money transmitters or “unlicensed money services businesses”, was reintroduced to the House Financial Services Committee. In its current version the bill also limits liability of the developers of non-custodial crypto platforms. Link. Draft bill. 

- Truth Social, the social media arm of Trump Media & Tech, filed an S-1 for a Truth Social Bitcoin ETF. Link. 

- An auction of memorabilia from Silk Road founder Ross Ulbricht’s ime in prison raised nearly $1.3 million in BTC. Ulbricht was pardoned earlier this year. Link. 

- Crypto venture firm Paradigm released a new automated market maker (AMM) design for pools of multiple stablecoins. Link. Paper. 

- Trump’s CFTC nominee Brian Quintenz is scheduled for a nomination hearing June 10th. Quintenz was previously the head of global policy at a16z crypto. Link. 

- Ripple gains regulatory approval for its RLUSD stablecoin to begin trading in the UAE. Link. 

- California's Assembly unanimously passed AB 1180 which allows state agencies to accept cryptocurrency payments. If passed by the Senate, a pilot program could begin as soon as July 2026. Link.