SEC Retreats from Binance Crackdown, GameStop Bets Big on Bitcoin, and XRP Scores $121M Windfall
Regulators blink first: The SEC quietly shelves its enforcement blitz against Binance—just in time for crypto’s summer rebound. Meanwhile, GameStop dives headfirst into Bitcoin, because what’s a dying brick-and-mortar play without a side of volatility roulette?
XRP cashes in: Ripple’s war chest grows by $121 million as the ’security’ debate drags on. Because nothing screams ’decentralized future’ like lawyers getting rich.
Closing thought: Wall Street still can’t decide if crypto is a scam or their next revenue stream—but they’ll keep collecting fees either way.
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
| Gainers | Losers |
| QNT (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.
