Strategy Expands Bitcoin Holdings, Nexo Reenters U.S., adn Celsius Founder Faces Trial
Strategy, formerly MicroStrategy, has bolstered its Bitcoin (BTC) holdings.The company spent over $1.42 billion on 15,355 BTC, averaging $92,737 per coin. This brings their total BTC stash to 553,555, roughly 2.5% of the total supply.
During a May 1 earnings call, Strategy’s executive chair, michael Saylor, downplayed Bitcoin’s volatility. He noted that over 70 public companies are now part of the “digital gold rush.” Analysts predict Strategy will hold 691,249 BTC by 2025, up from the previous estimate of 601,029.
Nexo, a crypto lending platform, has returned to the U.S. market after a two-year absence. The platform will offer high-yield savings and asset-backed credit lines. Nexo paused U.S. operations in 2021 after settling a $45 million fine with the SEC over an unregistered lending product.
Simultaneously occurring, former Celsius Network founder Alex Mashinsky faces a 20-year prison sentence request from federal prosecutors. Some investors want life imprisonment after losing savings when Celsius collapsed.
The SEC has delayed decisions on XRP and Dogecoin ETFs, setting new dates for june 15 and 17. The agency also ended its investigation into PayPal’s PYUSD stablecoin.
Coinbase filed an amicus brief to the U.S. Supreme Court in the Harper vs IRS case, advocating for more privacy in crypto transactions.
President Donald Trump and his family are reportedly generating billions from cryptocurrency. A new report estimates
