Public keys are weekly summary Decryption This tracks major crypto companies that are publicly traded.
This week: Circle stocks surge again and end the week, with GameStop coming after another bond offering, but Sharplink Gaming's Fall takes the cake.
The circle remains hot
The euphoria began to fade, but the glossy announcement continued. And CRCL is rapidly increasing once again.
After last week's massive launch, the USDC publisher circle saw its stock Reaching a new high And then, like there was stub coin, it starts to settle down during the week Added to Sam Altman's world chain.
By late Thursday, CRCL continued its cooling for the first time this week, appearing to be below $100. Instead, stocks took off like rockets again on Friday, surged 25% to close at $133.56 a day.
A surge occurred on Friday Despite the flammable tensions in the Middle East, many assets are weighed, except for that. Oil and goldof course. For trading outside of business hours, CRCL is even closer to peak prices.
Friday's surge continued Wall Street Journal Amazon and Walmart retailers claim they are one of those considering launching their own Stablecoins as long as they wait for the passage of the Genius Act Stablecoin Bill. Senator Elizabeth Warren and a consumer group condemned the retailer's reported plans Friday afternoon.
The club's public recruitment is really “The moment when the moon lands“In the case of Stablecoins, other companies and projects are seizing the opportunity to plan a flag next to the company.
Among the entities you want you to know that they use USDC: Shopify has expanded base usdc stablecoin payment. Ripplex welcomed From USDC to XRP ledger, a move called “advanced defi and institutional adoption.” And Brazil's Fintech Matera said it would begin using stables to allow for “multicurrency” operations among traditional banks. Bloomberg.
At the very least, it's safe to say that the circle's public recruitment has once again cooled Crypto, from the perspective of companies and projects seeking positive coverage.
Would you like to buy GameStop Bitcoin?
Does GameStop need its own Michael Saylor?
With each move that top Bitcoin buyer strategy, co-founder and executive chairman Saylor is often front and center, and will deploy camera prospects as much as possible, even if a veteran short-seller like Jim Chanos says that.Complete financial inconsistency. ”
When GameStop said he would do that this week Provides $1.75 billion Ryan Cohen, who is worthy of an investor-convertible senior note (as it rose to $2.25 billion), following his past $1.5 billion salary increases, did not explain what a brick and mortar video game retailer would do with the second cash. Instead, he I emphasized the shit I thrust x into myself.
The company's stock price fell 22% to $22.12 after its announcement, showing losses compared to when GameStop approved Bitcoin as a financial asset in late March. The shares were then traded around $25.40. On Friday, the stock ended in a flat at $22.14 Yahoo Finance.
Are GameStop investors looking for outspoken supporters to explain why they are excited about the company's recent Bitcoin Pivot?
“What I think is very important to Bitcoin finance companies is transparency and reliability, and so far they've been a black box.” Decryption In a recent interview.
It's Gamestop I bought it 4,710 Bitcoin Last month, the company will not telegraph its future purchases, Cohen explained in a five-minute show at last month's Bitcoin conference. This week's announcement from the company said that the cash collected could be directed towards acquisitions, operational costs and investments (such as Bitcoin).
But it's in GameStop Owns other digital assetsIt was also sold.
Sharplink swing
Another example of wild speculation about something too complicated for the average person to understand on Crypto Twitter (aka X) on another day.
On Thursday, an SEC filing from newly created Ethereum treasury firm Sharplink Gaming sparked speculation that investors who participated in the $425 million private placement had chosen to sell their shares some time ago.
The company's stock price plummeted more than 70% on filing back.
Following speculation and rushing, Joe Rubin, co-founder of Ethereum, Consensey CEO and Sharplink board chair, said in X that filing is “standard” for Tradfi companies and is misrepresented. (Disclosure: Consensys is one of 22 editorially independent decryption investors.)
Still, why do stock charts look like celebrity meme coins, swing upwards and then crater quickly?
“When everything is ready, the float is small, when everyone buys it, and there's a period before it turns into a stonk of memes.” I said About X about Crypto Treasury Company Pivot. “It resolves once all filings are complete. (…) That doesn't mean that everyone is 'sturdy'. ”
The price swing, and the evolution of Crypto Twitter's ratings that evolved what actually happened, appeared to have overshadowed the Friday announcement that Sharplink built 462 million dollar Ethereum war chest Following recent pay raises and some stock issues. Already, 95% of these funds are deployed on the chain, earning yields through staking, the company added.
Sharplink shares did not improve on Friday, but have fallen nearly 72% at $9.21 per share since its closing on Thursday.
Other keys
- SolanaETF publisher adds staking: The surge in hopeful Solana ETF issuers renewed its SEC application late Friday, adding plans to wager assets, earning yields that could make them more attractive investments. The Ethereum ETF publisher had to remove such languages from submissions prior to approval last summer, but this is the new SEC under President Trump and is much more friendly to the crypto industry.
- Obama Advisors will help you with the new blue: Coinbase welcomed David Proof, who devised the 2008 campaign for former President Barack Obama and served as the Global Advisory Council for Kamala Harris. His addition comes amid recent rise in bipartisan support for cryptocurrency at Capitol Hill among some Democrats due to the prevalence of cryptocurrency sponsored by President Donald Trump.
- Crypto David vs. Goliath consulting company: The Ethereum Token platform Zora sued Deloitte to stop audit, consulting, tax and advisory services companies calling one of its products “Zora AI.” Deloitte launched the platform last March, but Zola has been Deloitte's playing client since 2022.
- Bitcoin Miner Bouncing: Bitcoin miners struggled earlier this year, but Bitdia said this week it minted 196 BTC in May, an increase of 18% from April. Data from Farside investors shows that four top Bitcoin miners (Clean Park, Mala, Riot Platforms, and Hive) matured more BTC in May than in April.
Edited by Andrew Hayward
