Crypto Treasury Firms Go on $8B Buying Spree in Historic Week

Justin Sun has accused First Digital Trust (FDT) of stealing $456 million from client funds, claiming the money was moved to a Dubai company without consent or collateral. FDT denies the allegations, calling them malicious, while Sun calls for urgent regulatory action in Hong Kong to address the situation.
Justin Sun, the dynamic founder of TRON, just landed on the cover of Forbes, but that might not be a good thing..
Justin Sun, the founder of TRON, has ignited discussions within the cryptocurrency community by proposing a reduction in TRX block rewards
The SEC, Tron Foundation, and Justin Sun have asked a federal court to pause the 2023 lawsuit to explore a resolution. The case involves allegations of unregistered TRX and BTT sales, market manipulation, and undisclosed celebrity endorsements.
In a recent post on the X platform, Ethereum co-founder Vitalik Buterin praised the Celo blockchain for hitting a fresh milestone for stablecoin use on the platform.
A trader turned $1,200 into $10 million with Tron Bull (BULL) in three days, but the value soon fell by 60%, leaving them with $4.3 million. This dramatic rise and fall highlight the volatile nature of meme coins, as Tron-based tokens like BULL, SUNDOG, and SUNCAT show fluctuating prices and declining values.
Telegram founder Pavel Durov was arrested in France, exposing various legal problems existing in the Telegram platform. Binance’s listing of TON means that it has once again brought new legal risks to itself. Justin Sun and Binance’s first sister He Yi needs to find a new way out under the severe regulatory environment.
TRON DAO Reserve has moved support for USDD from Bitcoin to TRX with the transfer of 12,000 Bitcoin, raising questions about the stability of the stablecoin amid reliance on more volatile assets.
Animoca Brands is considering Hong Kong for its upcoming IPO due to the city’s growing digital asset sector. Despite a drop in valuation from $5.9 billion to between $1.5 billion and $3 billion, the company is focused on expanding and has yet to set a firm IPO timeline.
Bhutan has become a major Bitcoin player by mining 13,011 BTC, worth around $780 million, through a partnership with Bitdeer and using its hydropower resources. This mining initiative, which has boosted Bhutan’s capacity to 600 megawatts, represents a third of its GDP and reflects a strategic shift towards digital assets.
USDT is trading at a 0.3% discount to the USD/CNY, meaning investors have been cashing out. Bitcoin prices are showing strength, but derivatives traders are skeptical that the momentum may not last.
Andras Istvan Arato, known as "Hide The Pain Harold," is making waves at Token2049 in Singapore, where he’s a guest of Memeland and the NFT community Arc. From his origins as a stock image model, Arato has embraced his meme fame, leading to numerous public appearances and commercial opportunities.
BlackRock and Microsoft are launching a $30 billion AI investment fund, in collaboration with Global Infrastructure Partners, to support the growing demand for AI infrastructure. This fund aims to secure up to $70 billion in debt financing to build data centers and energy solutions necessary for advancing AI technology.
At TOKEN2049 Singapore, Binance CEO Richard Teng discussed leading the company after founder CZ's imprisonment. Despite challenges, he expressed confidence in Binance's future, emphasizing its strong global team and community. Teng highlighted the importance of regulatory compliance as a competitive edge, particularly amidst evolving regulations and growing institutional adoption, such as ETFs.
Less than 50 days before the U.S. presidential election, Trump announced the official launch of the new financial revolution project World Liberty Financial, saying that cryptocurrency is a very powerful market. This move faces scrutiny from Democrats in the U.S. House of Representatives.
According to data collected on the chain, China's cryptocurrency holdings are estimated at $11 billion, and the US government's holdings are ranked first at $12.2 billion. In terms of companies, Musk's Tesla ranked only fourth, lagging behind MicroStrategy's $14.768 billion.
At TOKEN2049 Singapore, Vitalik Buterin delighted the audience with a surprise performance of the Castle in the Sky theme song. He also discussed Ethereum’s reduced transaction fees as crucial for mainstream adoption and emphasized the need to balance decentralisation with practicality.
The evolving landscape of crypto crime in 2024 was one of the focuses at TOKEN2049 Singapore. Although illicit activities have declined, challenges such as ransomware, scams, and sanctions evasion persist. Combating crypto crime in the future will depend on strengthening global collaboration and leveraging blockchain technology for better security and transparency.