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BlackRock Buys $50 Million In Ethereum: Details
Crypto Trends

BlackRock Buys $50 Million In Ethereum: Details

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  • BlackRock’s multi-million dollar Ethereum bet
  • Ethereum exchange inflow rises as price holds steady

Arkham, a company known for tracking blockchain activity, posted on X that BlackRock, a giant in the financial world, has bought $50 million worth of Ethereum (ETH), the second-largest cryptocurrency. 

The post included charts and data that showed a steady rise in Ethereum balances and profits, suggesting the investment could be part of a bigger strategy.

BlackRock’s multi-million dollar Ethereum bet

Based on data from Coinbase Prime, there were several recorded transactions of BlackRock’s purchase of 9,000 to over 58,000 ETH worth between $23 million and $61 million. The huge Ethereum buy from BlackRock puts forth evidence that large corporations are paying closer attention to cryptocurrencies.

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A few wonder if the firm’s decisions are based on privately available information or if it is preparing for new rules or business collaborations. Another point of view is that it represents an exciting leap into an uncertain but hopeful direction.

Ethereum exchange inflow rises as price holds steady

More ETH has been moving to exchanges recently, even though the price has been stable. The CryptoQuant chart presents the total ETH sent to exchanges from May 27 to June 4 and shows that the amount was not constant.

Source: CryptoQuant

On May 27, exchange inflows were around 200,000 ETH but surged to over 1.3 million ETH by June 1 before going down again. This indicates that there was a noticeable transfer of ETH onto exchanges, probably by investors planning to sell or trade.

Despite these many transactions, Ethereum’s price continued to stay between $2.54K and $2.68K. Still, the crypto asset’s price only went down marginally, which shows that demand matched the selling activity.

The reason for the sudden increase in inflows is not yet understood, but it might be due to large holders (whales) switching their assets or traders responding to broader market movements.

CoinMarketCap data shows that ETH trades at $2,605.38 at the moment, showing a slight 2.37% increase in the past 24 hours. 

Source: CoinMarketCap

Trading volume on Ethereum for the past 24 hours stands at $18.15 billion, which is an increase of 16.03% compared to the previous day. 



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Michael Saylor’s Strategy Plans Stock IPO to Fund Bitcoin Buys, Operations

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In brief

  • Strategy is seeking to raise $250 million through preferred stock shares.
  • The shares that pay a 10% dividend will be used to buy Bitcoin and cover working capital needs.
  • Last week, the company acquired 705 BTC for $75 million, increasing total holdings to 580,955 BTC.

Strategy, formerly MicroStrategy, announced plans Monday to raise fresh capital by selling shares of preferred stock, with the proceeds earmarked for Bitcoin purchases and other operational expenses.

Operating as a “Bitcoin Treasury” company, Strategy is seeking  $250 million through an initial public offering of 2.5 million shares of its “10% Series A Perpetual Stride Preferred Stock” (STRD). 

The stock will be listed on the Nasdaq, with each share initially priced at $100, offering investors a 10% annual dividend yield, according to a recent filing.

“We intend to use the net proceeds from this offering for general corporate purposes, including the acquisition of Bitcoin and for working capital,” Strategy wrote in its Monday preliminary prospectus, supplementing an earlier January 27 filing.

The STRD offering represents Strategy’s third preferred stock issuance this year following its Strike (STRK) and Strife (STRF) offerings.

In March, the company increased the size of these offerings from $500 million to $723 million within days of their announcement. STRD’s new shares have a 10% annual, non-cumulative cash dividend, payable quarterly, starting September 30.

Preferred stock, such as Strategy’s STRD, STRF, and STRK offerings, refers to a hybrid “stake in a company, sold on exchanges like common stock,” asset management firm Fidelity explains.



It combines bond-like features with stock ownership, giving holders priority over common shareholders for dividend payments and asset claims, but typically without voting rights.

However, these dividends are not guaranteed or cumulative, so if they’re not declared in a given quarter, investors won’t get paid or recoup missed payments later.

Strategy has so far accumulated over $61 billion worth of Bitcoin, currently valued at roughly $106,000 each, according to data from CoinGecko.

Strategy sees its Bitcoin stash as being “long-term holdings” with the expectation of accumulating more.

There’s no “specific target for the amount of Bitcoin we seek to hold,” Strategy wrote in its prospectus filing, adding that it would continue to “monitor market conditions” to know whether it needs to add more Bitcoin or engage in more financing to do so.

Still, Strategy warns that a sharp decline in Bitcoin’s market value could hurt its ability to meet financial obligations, citing the potential for a “significant decrease” in its holdings to have adverse effects.

The company also notes that even unrealized gains on its Bitcoin could cause it to “become subject to the corporate alternative minimum tax,” a liability under the Inflation Reduction Act of 2022.

Edited by Sebastian Sinclair

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Texas Lawmaker Misses Disclosure Deadline on Bitcoin Buys

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In brief

  • Republican Brandon Gill filed two Bitcoin disclosures weeks past the legal deadline.
  • The STOCK Act violation carries a minor fine, but concerns about transparency persist.
  • Gill is part of a Trump-aligned group of lawmakers who are investing in and promoting crypto.

Rep. Brandon Gill (R-TX) failed to properly disclose up to $500,000 in Bitcoin purchases within the 45-day window mandated by federal law, OpenSecrets reported Monday, raising fresh questions about transparency and conflicts of interest among crypto-investing lawmakers.

Gill reported buying between $100,001 and $250,000 in Bitcoin on both January 29 and February 27—but only disclosed the trades on Monday, well beyond the deadline required under the Stop Trading on Congressional Knowledge (STOCK) Act.

Decrypt has contacted Gill’s office for comment.

Passed in 2012, the STOCK Act is designed to curb insider trading and ensure accountability by requiring timely reporting of lawmakers’ securities transactions, including those involving digital assets.

However, the law is somewhat toothless, with violators facing only a $200 fine that congressional ethics committees frequently waive.

Gill is a vocal supporter of crypto, and his January trade came days after former President Donald Trump signed an executive order calling for reduced regulation on digital assets.

His February buy occurred just before Trump unveiled a “strategic Bitcoin reserve” initiative on March 6. Gill made two additional Bitcoin purchases in May, which were reported on time.

Trump ties

The lawmaker, a member of three House committees and son-in-law of conservative commentator and Trump donor Dinesh D’Souza, who Trump pardoned in 2018 for criminal campaign finance violations, has become prominent among Washington’s growing pro-crypto bloc.

He’s backed several bills aimed at deregulating the industry and is known for a controversial proposal to replace Benjamin Franklin with Donald Trump on the $100 bill.

Gill is hardly alone in making investments in crypto while supporting policies favorable to the industry.

Since returning to office, Trump and his family have launched or endorsed numerous digital asset ventures, from NFTs to unlaunched DeFi platforms. His sons, Eric and Donald Jr., are also involved in several crypto projects.

The push for looser crypto rules has coincided with significant financial gains for its political backers. 

The SEC has dropped several investigations into crypto firms under the current administration, while lawmakers, including Vice President JD Vance, have praised the industry at high-profile events.

In response, Democrats, led by Rep. Maxine Waters (D-Calif.), have introduced bills to prohibit elected officials and their families from owning or launching crypto projects while in office. So far, such measures have failed to attract Republican support.

Edited by Sebastian Sinclair

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This Week in Crypto Games: GameStop Buys Bitcoin, More Ethereum Games Close Up Shop

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It’s tough to keep tabs on the ever-changing crypto gaming space, thanks to the constant flow of news: everything from big game launches and fun degen experiments to token price swings and occasional project collapses. It’s a lot to follow.

Luckily, we’re plugged in at Decrypt’s GG. We cover the biggest happenings throughout the week, and then this weekly roundup provides a quick way to catch up, as well as find a bunch of other little bits of news from throughout the week.

Top stories

GameStop buys Bitcoin: GameStop, the video game retailer that’s made waves in recent years as a meme stock, announced Wednesday that it purchased 4,710 Bitcoin, worth $512 million at the time, to establish a corporate Bitcoin treasury. This follows a $1.5 billion convertible notes offering that closed at the start of April, after the company said in late March that it would add BTC as a reserve asset.

CEO Ryan Cohen said he views Bitcoin as a hedge against currency devaluation and systemic risk, and added that he won’t reveal future purchase timing or strategy. GameStop joins other public companies following Strategy’s Bitcoin playbook, including Tesla and crypto mining firms holding billions in Bitcoin. Other companies are diversifying beyond Bitcoin, with SharpLink Gaming recently raising $425 million to buy Ethereum.

GameStop became a meme stock in 2021 when Reddit users triggered a massive short squeeze against hedge funds. Cohen acknowledged in an interview at Bitcoin 2025 this week that the company was struggling when he joined in 2021, facing pressure from the shift to digital game downloads.

Shares in GameStop (GME) fell sharply on Wednesday, down 11% by the end of trading, and continued sliding on Thursday. On Friday, rose less than 1% to finish below a price of $30, down almost 3% over the last week.



More games go offline: Two Ethereum-based games on the Ronin network, Realms of Alurya and Wonder Wars, have gone offline due to funding difficulties, highlighting broader struggles in crypto gaming.

Hello Monster, developer of Wonder Wars, said it couldn’t secure necessary funding for continued live service operations or achieve sustainable profitability metrics. The team decided against launching its utility token, calling it dishonest to rely on pure speculation.

Realms of Alurya faces similar closure after claiming that publisher Treasure abruptly terminated its exclusivity contract and funding support, amid Treasure’s recent restructuring and pivot to AI. The developers admitted that over-reliance on their publisher was a mistake, saying they were “shocked” by the sudden funding withdrawal that derailed their yearly roadmap.

These shutdowns reflect a growing trend in crypto gaming, with recent closures including Nyan Heroes, Ember Sword, The Mystery Society, and The Walking Dead: Empires (set for a July end), with commonly cited issues including funding struggles and/or a lack of players. Gaming tokens have also struggled, with only Immutable’s IMX remaining in the top 100 cryptocurrencies by market cap.

ICYMI

  • Bored Ape Yacht Club maker Yuga Labs sold the Moonbirds IP to Orange Cap Games, the startup behind Abstract-based trading card game, Vibes. Yuga is refocusing on the Apes after also recently selling the Meebits and CryptoPunks IP.

The beautiful game just got bolder ⚽️🔥

Here’s your first look at FIFA Rivals gameplay, the fast-paced, arcade-style football game built for mobile 📲

Comment if you’re ready for FIFA Summer 👇 pic.twitter.com/EWMenBnYeO

— FIFA Rivals (@FIFARivals) May 29, 2025

  • Solana meme coin bonk is teasing a game launch for Monday, developed by BR1 creator Bravo Ready Games.
  • Avalanche-based hero shooter BloodLoop has resurfaced with plans to launch the 5v5 game this month.

Is BloodLoop still alive? ☠️

Short answer: yes.
Long answer: we’re launching.

The market’s rough right now. Studios are going silent. Some are shutting down completely. And yeah — when you don’t hear from a project for a bit, the assumption is: they’re out of money, or out of… pic.twitter.com/TZaOmOZEvS

— BloodLoop🔺 | Hero-Shooter (@BloodLoopGAME) May 26, 2025

Introducing Cyberlancers! 🦿

You’ll find them in HEXes and loot piles, begging to be unleashed. Activate them and launch yourself into enemies like a missile with trust issues.

There’s a blade. It goes in. They bleed. You win.

🎥 Watch in 4K: 🔗 https://t.co/4bDzdor1iF pic.twitter.com/TXZKtYiSXf

— Off The Grid (@playoffthegrid) May 30, 2025

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Crypto Trends

European Firm K33 Raises $6.2M for Strategic Buys

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Norwegian broker K33 has set its sights on adding Bitcoin to its balance sheet. It raised 60 million Swedish krona (about $6.2 million) to buy and hold the cryptocurrency.

Based on reports, the cash comes from a mix of convertible loans and new share and warrant issues.

New Funding Round Raises 60 Million Krona

According to K33’s May 28 statement, 45 million krona of the total comes from interest-free convertible loans. Those loans don’t carry any interest and mature on June 30, 2028.

The rest, 15 million krona, will be raised through a new share sale and free warrants. If all the warrants and conversions happen, K33 could pull in up to 75 million krona.

Bitcoin Buy Plan Outlined

Based on reports, the fresh funds will go “in full” to build what K33 calls its Bitcoin Treasury Strategy. At today’s price of just over $108,000 per coin, the company could buy about 57 BTC. That gives them a decent pile of BTC to work with as they roll out new services.

Bitcoin will be the best performing asset in the coming decade and my goal with K33 is to accumulate as many as possible while unlocking powerful operational synergies with our brokerage operation. https://t.co/Crxu0b5QPz

— Torbjørn (@TorbjrnBullJens) May 28, 2025

Management Sees Long-Term Gains

CEO Bull Jenssen posted on X that he expects Bitcoin to be the “best-performing asset in the coming decade.” He wrote that K33 will “accumulate as many as possible while unlocking powerful operational synergies with our brokerage operation.”

He also asked:

“Why wait for the government to build a crypto reserve when you can build your own?”

BTC is currently trading at $108,561. Chart: TradingView

Risks And Rewards

K33’s share price barely budged and actually fell 1.90% on May 28. That shows some investors worry about Bitcoin’s wild swings. It’s a known fact that BTC can jump or drop 10% or more in a single day.

GameStop saw its stock jump around 10% after it said it would buy Bitcoin, only to slide 10% when it made its first purchase of 4,710 BTC. And Paris’s Blockchain Group stock once spiked 220% when it started its Bitcoin buys.

Building a Bitcoin reserve also opens doors. Jenssen told investors that a sizable BTC holding could help K33 launch Bitcoin-backed loans and boost its brokerage arm.

With fresh cash on hand, they plan to team up with other Nordic firms doing the same. He said their treasury will be the base for new revenue and product ideas.

Featured image from Unsplash, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.





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European crypto firm K33 raises $6.2M for Bitcoin buys
Crypto Trends

European crypto firm K33 raises $6.2M for Bitcoin buys

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Norwegian crypto brokerage firm K33 plans to join the growing number of public companies buying up Bitcoin after raising 60 million Swedish krona ($6.2 million) to buy and hold the cryptocurrency.

K33 said on May 28 that it secured financing through convertible loans and a new issue of shares and warrants, which “will be used in full to acquire Bitcoin in order to establish the Bitcoin Treasury Strategy.”

Warrants are zero-interest securities that investors can later convert into equity at the same price. K33 could purchase up to 57 Bitcoin (BTC) at BTC’s current price of just over $108,000. 

Source: K33

K33 CEO Bull Jenssen posted to X on May 28 that he thinks Bitcoin will be the “best-performing asset in the coming decade,” and his company will “accumulate as many as possible while unlocking powerful operational synergies with our brokerage operation.”

“Why wait for the government to build a Bitcoin reserve when you can build you own? Initial financing is secured and we are ready to accelerate from here!” he added in another post. 

The convertible loans total 45 million Swedish krona ($4.6 million), are interest-free and mature on June 30, 2028. The remaining 15 million Swedish krona ($1.5 million) will come through a new share issuance and warrants, according to K33. 

If investors convert their warrants before March 2026, they are entitled to additional free warrants at the same conversion rate. If fully exercised, K33 could raise up to 75 million Swedish krona ($7.7 million) for its Bitcoin buy. 

Bitcoin treasury part of expansion plans 

In K33’s interim report for the first quarter, released May 28, Jenssen said K33 is working with other Bitcoin treasury companies in the Nordics and hopes to use its treasury as a foundation to offer new services, such as BTC-backed lending. 

“For K33, Bitcoin is not only a high-conviction asset — it’s also a strategic enabler. With a sizable BTC reserve, we will be able to strengthen our financial position while unlocking new revenue streams, product capabilities, and partnerships,” he said. 

Related: Strategy bags 4,020 Bitcoin as price briefly breaks $110K

K33’s share price traded flat with the news of its Bitcoin treasury pivot and closed May 28 trading down 1.96%, according to Google Finance.

K33’s stock price wasn’t affected by the announcement of the firm’s Bitcoin strategy. Source: Google Finance

Some companies have seen their stock prices gain after announcing a Bitcoin buying plan.

Video game retailer GameStop shares jumped nearly 12% on March 26 after the company announced plans to purchase Bitcoin. However, it dropped 11% on May 11 after GameStop made its first purchase of 4,710 Bitcoin.

Meanwhile, when Paris-based crypto company Blockchain Group started buying Bitcoin on Nov. 5, its stock spiked 225% to 0.48 euros ($0.52).

Magazine: Rise of MicroStrategy clones, Asia dominates crypto adoption: Asia Express 2024 review



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GameStop Buys $512M Worth of BTC For Bitcoin Treasury

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Video game retailer turned meme stock GameStop has announced that it has purchased Bitcoin, currently worth approximately $512.79 million.

The firm tweeted that it had purchased 4,710 Bitcoin (BTC), after having completed a $1.5 billion offering of convertible senior notes to investors in early April.

At the time, GameStop stated that it planned to use the proceeds to establish a corporate Bitcoin treasury; while not explicitly stated in the Wednesday release, it is likely the $512.79 million Bitcoin acquisition is for this planned reserve.

In March, GameStop CEO Ryan Cohen hinted at the retailer’s Bitcoin plans as he posed next to Strategy co-founder and Executive Chairman Michael Saylor, who established the business model of public companies holding Bitcoin as an asset.

As a result of Strategy’s embrace of Bitcoin, it transformed from a middling business intelligence software company to a firm with a market capitalization of $101.76 billion, according to TradingView. It appears that GameStop is looking to adopt a similar strategy, hoping for comparable success.

This is a breaking story and will be updated shortly.

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KindlyMD buys 21 Bitcoin ahead of Nakamoto merger
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KindlyMD buys 21 Bitcoin ahead of Nakamoto merger

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KindlyMD, an integrated healthcare services provider, has announced the purchase of 21 Bitcoin ahead of its merger with Nakamoto Holdings, a company focused on the acquisition and holding of Bitcoin.

KindlyMD’s move to buy 21 Bitcoin (BTC) comes a few weeks after David Bailey, the chief executive officer of BTC Inc., and crypto advisor of U.S. president Donald Trump, announced the launch of Nakamoto Holdings.

The Bitcoin-native company, whose name pays homage to Bitcoin creator Satoshi Nakamoto, recently revealed an upcoming merger with KindlyMD.

KindlyMD is a Nasdaq-listed integrated healthcare and healthcare data company looking to become the next Strategy. With its initial BTC purchase, KindlyMD says its on the path to making this quest a reality.

The purchase of 21 BTC was completed at an average price of $109,027 per coin, representing a $2.3 million investment. Funds came from gross proceeds of $8.7 million raised through recent warrant exercises.

“KindlyMD chose 21 BTC, which is one millionth of the total supply of bitcoin, as a symbolic first step on our journey to be the leading Bitcoin treasury strategy,” Bailey said. “There are many more milestones ahead and we can’t wait to continue to execute our roadmap with KindlyMD.”

Nakamoto Holdings’ launch followed Bailey’s $300 million raise in equity and convertible debt earlier this year.

On May 21, KindlyMD shareholders approved the strategic merger and partnership with Nakamoto Holdings. The deal also includes Anchorage Digital—an institutional-grade crypto custody platform—signaling a joint commitment to accelerating corporate Bitcoin adoption.

Commenting on the purchase, KindlyMD CEO Tim Pickett said:

“This strategic purchase was possible after significant warrant redemption, which we believe reflects our investor’s support of the merger and in our confidence of Bitcoin as a store of value. We look forward to working diligently towards the closing of our merger with Nakamoto to further accelerate our Bitcoin treasury strategy.”

KindlyMD and Nakamoto Holdings’ merger will close later in the year.



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Apple buys the maker of Sneaky Sasquatch
Gaming Gear

Apple buys the maker of Sneaky Sasquatch

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Apple has bought a game studio for the first time. Digital Trends reported on Tuesday that the company has scooped up RAC7. The two-person team is behind the Apple Arcade hit Sneaky Sasquatch.

For years, some investors have hoped Apple would apply its full clout to the gaming industry. Although recent years have seen the launches of Apple Arcade and Game Mode for Macs, there’s still untapped potential. Another piece of news on Tuesday makes it easier to speculate that something is brewing. Bloomberg reported that the company will launch a revamped gaming app at WWDC. The new app is said to replace the oft-forgotten Game Center.

However, Giovanni Colantonio of Digital Trends suggests the acquisition isn’t necessarily a sign of what’s to come. He notes that Apple described the RAC7 purchase as a unique situation to help the small studio grow. “We will continue to deliver a great experience for Apple Arcade players with hundreds of games from many of the best game developers in the world,” Apple told the publication.

Sneaky Sasquatch was a launch title for Apple Arcade in 2019. Engadget’s Devindra Hardawar described it as an example of how the service can let developers “cut loose and get weird.” And weird, it is. (Delightfully so!) You play as the mythic Bigfoot, tiptoeing around a forest. What starts as a quirky stealth game takes even stranger turns. As you progress, you’ll learn to drive cars, disguise yourself as a human and hit the slopes.

Over five years later, the quirky title is still one of Apple Arcade’s tentpole games. It sits alongside favorites like Katamari Damacy Rolling Live, Skate City: New York and Threes! And we can’t forget one of Engadget’s all-time favorite games, Balatro. The “almost perfect” port of the deck-building game hit the service last year.



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Strategy Shrugs Off Lawsuit, Buys Another Half Billion in Bitcoin

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In brief

  • Software firm and Bitcoin treasury Strategy—formerly MicroStrategy—was hit with a lawsuit last week.
  • The company’s stock dropped.
  • But that didn’t stop it from buying more Bitcoin.

Bitcoin treasury company Strategy on Monday announced another crypto buy, bringing its total holdings to over 580,250 BTC—worth $63.7 billion at today’s prices. 

Strategy—formerly MicroStrategy—said it bought 4,020 BTC last week for an average price of $106,237 per digital coin. That’s nearly another half billion worth, as the price of Bitcoin now hovers around $110,000.

The Tysons, Virginia-based software company is the largest corporate holder of the cryptocurrency, and now focuses on buying the asset—at its highs and lows—so that investors can get exposure to Bitcoin via its Nasdaq-listed shares. 

Strategy has acquired 4,020 BTC for ~$427.1 million at ~$106,237 per bitcoin and has achieved BTC Yield of 16.8% YTD 2025. As of 5/25/2025, we hodl 580,250 $BTC acquired for ~$40.61 billion at ~$69,979 per bitcoin. $MSTR $STRK $STRF https://t.co/eAd03GIKam

— Michael Saylor (@saylor) May 26, 2025

Still, Strategy’s most recent buy was smaller than recent transactions: the company spent $764.9 million and $1.34 billion in other weekly purchases earlier this month. 

Strategy stock (NASDAQ: MSTR) is right now trading at $369.51—nearly 8% lower than its Friday price. 

The company was last week hit with a lawsuit from an investor who alleged its executives made false and misleading statements about the profitability of its BTC-buying masterplan. Strategy stock took a hit after news of the lawsuit dropped. 

Over the long term, however, MSTR has rocketed since it started buying the leading cryptocurrency in 2020: It was trading for under $15 a pop back then and is up more than 2,400%. 

Other companies are now following its lead—albeit smaller ones—by snapping up Bitcoin as a way to get shareholders better value for money. Healthcare company Cosmos Health (NASDAQ: COSM) and auto firm Worksport (NASDAQ: WKSP) last year both announced plans to buy crypto with spare cash, and energy storage company KULR Technology Group (NASDAQ: KURL) has been fast-acquiring BTC. 

Bitcoin was recently trading for $109,826, up more than 2% over a 24-hour period, according to CoinGecko data. 

Just in April, the digital asset dropped below $75,000 when President Trump rattled markets with his trade war rhetoric but has since recovered and touched new highs.

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