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The final week of May 2025 delivered a whirlwind of transformative developments in the cryptocurrency space while setting the stage for a dynamic June. From a landmark regulatory shift in the U.S. to bold institutional investments and global political endorsements, the crypto market saw significant momentum. Let’s have a closer look at this week’s top stories;

Top Stories this Week

SEC Drops Binance Lawsuit, Signals Major U.S. Crypto Policy Shift

The U.S. Securities and Exchange Commission (SEC) made a notable headline this week by dropping its high-profile lawsuit against Binance on May 28, 2025. This decision marks a significant shift in U.S. crypto regulatory policy, suggesting a move toward a more accommodating stance. The SEC’s recent settlements with other major crypto exchanges like Coinbase and Kraken, and now Binance, indicate a potential easing of enforcement actions, as it fosters optimism for clearer regulations.

GameStop Purchases 4,710 Bitcoin

On May 28, 2025, GameStop Corp. announced its first foray into cryptocurrency, with acquiring 4,710 Bitcoin valued at approximately $513 million. The move marks gaming giant’s strategic pivot to diversify its $4.78 billion cash reserves. The purchase, funded through a $1.3 billion convertible notes offering, positions GameStop as one of the largest public Bitcoin holders, with it now sitting among leading companies like Strategy and Tesla.

US Vice President JD Vance Commits to Crypto Industry Support

At the Bitcoin 2025 Conference in Las Vegas, U.S. Vice President JD Vance delivered a keynote address on May 27, 2025. His speech pledged robust support for the cryptocurrency industry. Vance described crypto as a critical hedge against poor economic policies and emphasized the Trump administration’s pro-crypto agenda. He also advocated for a market structure bill to streamline regulations and confirmed the creation of a U.S. Bitcoin strategic reserve, valued at $20.4 billion, primarily from seized assets.

XRP Sees $121M Institutional Boost from VivoPower

VivoPower, a sustainable energy company, announced a $121 million investment on May 29, 2025, to establish the world’s first publicly traded XRP-focused treasury reserve, backed by Saudi Prince Abdulaziz bin Salman. This move, likened to Strategy’s Bitcoin strategy, underscores growing institutional confidence in XRP despite its recent price pullback to below $2.30.

Coinbase Institutions to Offer 24/7 Solana (SOL) and XRP Futures

Coinbase Institutional announced the launch of 24/7 futures trading for Solana (SOL) and XRP on May 30, 2025, expanding access to crypto derivatives for institutional investors. This move follows CME Group’s introduction of XRP futures earlier in May, signaling growing mainstream acceptance of these assets. The perpetual futures contracts are expected to enhance liquidity in the crypto market. This development underscores Solana and XRP’s rising prominence among institutions and reinforces their roles in the evolving crypto market.

News You Might Have Missed

Nigel Farage Proposes ‘Crypto Revolution’ for London: UK politician Nigel Farage proposed a “Crypto Assets Bill” during a speech at the Bitcoin 2025 Conference, aiming to ignite a “crypto revolution” in London.
Hong Kong-based HashKey Lists XRP for Institutions: HashKey Exchange, a Hong Kong-based, SFC-licensed crypto platform, launched XRP/USD spot trading exclusively for professional investors.
Telegram’s Tie and No-tie with xAI: Telegram founder Pavel Durov announced a $300 million deal with xAI to integrate the Grok AI chatbot into Telegram’s platform, only for Musk to refute the claim, stating, “No deal has been signed.”

Top Gainers and Losers This Week

GainersLosersQNT (Quant): +15%FARTCOIN (Fartcoin): -27%DEXE (DeXe): +14%PENGU (Pudgy Penguin): -24%SPX (SPX6900): +12%WIF (Dogwifhat): -24%CRO (Cronos): +9%BONK (Bonk): -23%VIRTUAL (Virtuals Protocol): +4%KAS (Kaspa): -22%

What to expect next week?

The first week of June 2025 could bring increased volatility, particularly on downside, as markets digest U.S. jobs data and Federal Reserve signals on interest rates. While past two days were choppy for Bitcoin, the enlarged selling pressure could spark corrections, but regulatory clarity from the U.S. may fuel optimism.

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The Sui community has voted to unlock over $160 million in frozen assets following a major exploit of Cetus, a leading decentralized finance protocol on the network.

In a May 29 post on X, Sui (SUI) confirmed that validators representing 90.9% of the total stake voted “yes” in an on-chain governance proposal to move the frozen funds into a multi-sig wallet. The vote is a critical step in Cetus’s (CETUS) recovery plan after a $223 million exploit rocked the protocol on May 22.

Update – Validators representing 90.9% of stake have said “Yes” in the onchain community vote, and the vote has concluded early.

With this result, the impacted funds will be moved to a multi-sig wallet and held in trust until they can be returned to users according to the plan… https://t.co/qG8aPAhD8e pic.twitter.com/WjiSbLWt8n

— Sui (@SuiNetwork) May 29, 2025

The community vote was initiated after Cetus requested protocol-wide support to recover and return assets that were frozen on-chain following the hack. The attacker had exploited a vulnerability in third-party code to drain multiple liquidity pools, later bridging a portion of the funds to Ethereum (ETH). Validators managed to freeze $162 million of the stolen assets on Sui before more damage could be done.

As part of the recovery plan, the unlocked funds will be held in a trust account controlled by a multisig until they can be returned to affected users. Cetus has committed to combining the recovered funds with its treasury and a loan from the Sui Foundation to ensure all victims are fully reimbursed.

Although the flaw was in Cetus’ code, not the Sui network itself, Sui is treating the exploit as a critical moment for the ecosystem’s security model. In response, it announced a $10 million initiative to improve protocol-level audits and formal verification tools. Sui is also expanding its bug bounty program to cover major protocols with high total value locked.

Sui’s transparent and community-driven response has been praised by some community members, while others continue to express concerns about freezing wallets in a supposedly decentralized system. The vote was open to both validators and individual stakers, whose choices were reflected through their delegated stake.

With the vote now finalized, Cetus is expected to release a detailed timeline for reimbursements. Compensation efforts are set to begin soon, with full repayment now possible due to the newly recovered funds.