Top Stories of The Week
Anthony Pompliano to lead new Bitcoin-buying group raising $750M: FT
Cryptocurrency entrepreneur Anthony Pompliano is reportedly in talks to launch a new Bitcoin-buying vehicle that will seek to raise $750 million.
Pompliano is expected to become CEO of ProCapBTC, a special purpose acquisition company that is set to merge with the publicly traded blank check vehicle Columbus Circle Capital 1, the Financial Times reported on Friday.
Under Pompliano’s leadership, which is still under discussion, ProCapBTC would seek to raise $500 million in equity and $250 million in convertible debt as part of a merger with Columbus Circle Capital 1, backed by the Cohen & Company investment bank.
Bitcoin slides to $103K as Israel launches airstrikes on Iran
Bitcoin has tumbled closer to the psychologically important $100,000 price level, dashing traders’ hopes of a new all-time high after Israel launched a series of airstrikes on Iran.
Explosions reportedly rocked Iran’s capital of Tehran at 22:50 UTC on Thursday before Israel claimed responsibility for the attacks, which saw Bitcoin drop 2.8%, from $106,042 to $103,053, within 90 minutes, before slightly recovering to $104,370 at the time of publication, according to CoinMarketCap.
The drop caught traders offside, with approximately $427.84 million in long positions liquidated over the past 24 hours, according to CoinGlass data. Just days earlier, on Tuesday, Bitcoin had climbed as high as $110,265, just below its May 22 all-time high of $111,940.
SEC axes Biden-era proposed crypto rules in flurry of repeals
The US Securities and Exchange Commission has rescinded a slate of rules the agency proposed under the Biden administration, including two relating to crypto custody and exchanges.
The SEC said on Thursday that it was “withdrawing certain notices of proposed rulemaking” that were issued between March 2022 and November 2023 under former Chair Gary Gensler.
The agency added that it “does not intend to issue final rules with respect to these proposals,” and new rules will be proposed should it change its stance in future regulatory action.
It’s President Donald Trump’s latest regulatory rollback, which has promised sweeping deregulation of crypto and traditional markets.
SharpLink buys $463M in ETH, becomes largest public ETH holder
Sports betting platform SharpLink Gaming has acquired 176,271 Ether for $463 million, becoming the world’s largest publicly traded holder of ETH.
In a Friday announcement, the Nasdaq-listed company said the Ether acquisition was funded through a combination of private placement and at-the-market equity sales, including $79 million raised since May 30. The average acquisition price came in at $2,626 per coin.
The company said over 95% of its ETH is now deployed in staking and liquid staking platforms, earning yield while contributing to Ethereum’s network security.
Peter Thiel-backed crypto exchange Bullish files for US IPO: FT
Bullish, the digital asset exchange backed by billionaire investor Peter Thiel, has filed confidential paperwork with the US Securities and Exchange Commission (SEC) for an initial public offering (IPO), according to sources cited by the Financial Times.
American investment bank Jefferies has been tapped as the lead underwriter for the offering, per the report. Bullish has not issued a public statement on its plans.
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The move positions Bullish among a wave of crypto companies looking to capitalize on renewed investor enthusiasm and a friendlier regulatory tone under US President Donald Trump.
Winners and Losers
At the end of the week, Bitcoin (BTC) is at $105,362, Ether (ETH) at $2,553 and XRP at $2.15. The total market cap is at $3.29 trillion, according to CoinMarketCap.
Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Aerodrome Finance (AERO) at 44.12%, Kaia (KAIA) at 42.19% and AB (AB) at 41.96%.
The top three altcoin losers of the week are DeXe (DEXE) at 13.95%, Sonic (S) at 11.97% and Worldcoin (WLD) at 10.89%. For more info on crypto prices, make sure to read Cointelegraph’s market analysis.
Most Memorable Quotations
“Indeed, we expect our industry will evolve more in the next five years than in the last 50.”
Jenny Johnson, president and CEO of Franklin Templeton
“Is Bitcoin $BTC following its 2022 script and setting up for a 75% correction? Doesn’t hurt to ask this, does it?”
Peter Brandt, veteran trader
“Winter is not coming back.”
Michael Saylor, co-founder and executive chairman at Strategy
“Demanding that Bitcoin Core prevent certain transactions from being mined reflects a misunderstanding of the relationship between open source software users and developers.”
Gloria Zhao, software engineer at Chaincode Labs and Bitcoin Core developer
“It wouldn’t be surprising if we do break through very soon after we see a few frustrating ‘close calls’ that cause small traders to turn sour and impatient on BTC, neutralizing this level of optimism.”
Brian Quinlivan, director of marketing at Santiment
“Bitcoin has been benefiting from this deglobalization that Trump has been bringing forth.”
Lucas Outumuro, vice president of institutional DeFi at Sentora
Top Prediction of The Week
Bitcoin price breakout to $119K possible if oil rally pattern holds
Bitcoin is generally not regarded as a reliable investment during periods of geopolitical uncertainty, particularly when oil prices spike in response to escalating global tensions. However, historical data suggests that such moments often present compelling buying opportunities for traders prepared to capitalize on market dislocations.
In the face of imminent conflict or instability, investors typically rotate into short-term government debt and cash, favoring safety over volatility. Nevertheless, Bitcoin has historically outperformed in the week following abrupt oil price surges, such as the recent rally to $77 per barrel on Friday.
FUD of The Week
Russian authorities bust truck-based crypto mine draining village power
Authorities in Russia’s Republic of Buryatia have uncovered an illegal cryptocurrency mining operation hidden inside a Kamaz truck siphoning electricity meant for a nearby village.
Discovered during a routine power line inspection in the Pribaikalsky district, the unauthorized setup was drawing electricity from a 10-kilovolt line, enough to supply a small village, according to Russian state-owned news agency TASS.
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Inside the truck, inspectors found 95 mining rigs and a mobile transformer station. Two individuals believed to be connected to the operation fled the scene in an SUV before police arrived.
Peter Brandt’s 75% Bitcoin crash scenario ‘very unlikely’: Analyst
Crypto analysts are skeptical of veteran trader Peter Brandt’s recent speculation on X that Bitcoin could repeat its 2022 pattern and correct by 75%.
“Never say never; it just feels very unlikely at the moment,” Swyftx lead analyst Pav Hundal told Cointelegraph.
It comes after Brandt’s recent speculative post on X, questioning whether Bitcoin’s price action will mirror the severe decline in 2022.
In November 2021, Bitcoin hit an all-time high of $69,000, only to drop by around 76% over the next 12 months, reaching approximately $16,195 by November 2022, according to CoinMarketCap data.
“Is Bitcoin $BTC following its 2022 script and setting up for a 75% correction? Doesn’t hurt to ask this, does it?” Brandt said in an X post on Tuesday.
French police make more arrests in crypto kidnapping case
French police have reportedly made more arrests in the abduction of a crypto entrepreneur’s father whose finger was severed as part of the ransom demands.
The state-owned media outlet France 24 reported on Wednesday that police have arrested several people suspected of involvement in the kidnapping, citing a source close to the case.
There has been a growing number of crypto kidnappings in 2025, several of them in France, leading to crypto entrepreneurs beefing up their security measures, and French Interior Minister Bruno Retailleau calling a meeting to discuss the issue.
Top Magazine Stories of The Week
Older investors are risking everything for a crypto-funded retirement
Some older investors are risking everything to dig themselves out of financial holes and have a crypto-funded retirement.
China threatened by US stablecoins, G7 urged to tackle Lazarus Group: Asia Express
Top Chinese think tank urges Beijing to tackle US stablecoin threat, crypto scams rattle Thailand’s tourism industry, and more.
Jack Butcher’s no fan of NFT royalties: ‘You’re getting paid on churn’ — NFT Creator
From Naval threads to Checks and Opepen: How Jack Butcher became NFT culture’s north star.
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Editorial Staff
Cointelegraph Magazine writers and reporters contributed to this article.
