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- Trump Media Raises $2.4B, James Wynn’s high-leverage bet, and Circle's IPO
Trump Media Raises $2.4B, James Wynn’s high-leverage bet, and Circle's IPO
Headlines, charts and more you missed from this past week.

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Happy Monday! Last week’s Bitcoin conference was incredible. Shout out to the Bitcoin Magazine team for crushing it, once again.
Colin and I ran the mining stage while Charlie did Charlie things at the Open Source Stage (plus closing out the first day on the big stage, here).
But its a new week and we’re off to the races! This morning, we’ve already seen one large AI/HPC deal between two former Bitcoin miners.
But before we get into more news, help us out? Reply “HODL” or “Bitcoin” to tell your email service you like getting the Blockspace newsletter.
Market Opens
BTC $104K 0% GOLD $3,380 2% MSTR $369 0% COIN $246 0% | MARA $14.12 3.3% CLSK $8.63 1.7% RIOT $8.07 1.3% CORZ $10.65 0% |
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The goal: strengthen and scale Proof of Work for the next generation of builders.
Founding members include: F2Pool, SpiderPool, ElphaPex Miner, Ipollo, Bitmars, Fortitude Mining, StandardHash, BIT Exchange, ETC Cooperative, and Psy Protocol.
🔗 Explore the Alliance or join us at PoWAlliance.com
Capital Inflows
Some $268 million dropped into crypto-coffers last week, bringing the 7-week total to $10.9 billion. Bitcoin actually experienced less inflows than Ethereum products, CoinShares noted - link

CoreWeave Partners With Former Bitcoin Miner Applied Digital on $7 Billion AI Deal
We’re rolling out headline alerts service made in conjunction with Synoptic.com out of private beta. Join the Telegram group here to get market moving headlines in real time - link
Trump Media Closes $2.4B Capital Raise To Buy Bitcoin
Trump Media has secured $2.44 billion to establish a Bitcoin treasury and will use the proceeds to add BTC to its balance sheet — link
Crypto’s Most Watched Whale Fully Liquidated
James Wynn’s high-leverage BTC trades on Hyperliquid resulted in a net loss of over $17 million, leaving his account with just $23 — link
Metaplanet buys more Bitcoin, pushing total holdings to 8,888 BTC
The Japanese firm spent ¥16.885 billion (US $117.5 million) to bring its corporate treasury to 8,888 BTC and aims for 10,000 BTC by year-end — link
Pakistan to set up government-led strategic Bitcoin reserve
Pakistan Crypto Council CEO announced the country is launching a national BTC wallet that will hold coins indefinitely, inspired by recent U.S. moves and supported by mining and tokenization plans — link
Stablecoin Giant Circle Files for IPO on NYSE
Circle Internet Group plans to offer 24 million class A shares at $24–$26 apiece, potentially raising nearly $250 million under the ticker “CRCL” — link
3X Hashrate, Zero Guesswork
BitMine scaled seamlessly with Luxor & Soluna’s turnkey mining model — from procurement to firmware to renewable power. Grow your hashrate output with one unified solution - link
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Chart of the Week
Got a premium? VanEck research shows a strong premium-to-NAV for Strategy MSTR shares when Bitcoin rises, further fueling its stock performance - link
Tweet of the Week
Elon Musk is rolling out a private chat feature called XChat with ‘Bitcoin style’ encryption. We have questions. For example, what does ‘Bitcoin style’ actually mean?
All new XChat is rolling out with encryption, vanishing messages and the ability to send any kind of file. Also, audio/video calling.
This is built on Rust with (Bitcoin style) encryption, whole new architecture.
— Elon Musk (@elonmusk)
6:06 PM • Jun 1, 2025
Podcast of the Week
Ever wonder how Bitcoin options trading works? Wilson Huang from DRW Cumberland joins us to talk: Bitcoin options markets, why crypto volatility attracts both miners and hedge funds, how ETFs are reshaping institutional adoption, and why traditional finance principles are finally making sense in digital assets. We dive deep into market structure, OTC trading, and the future of crypto derivatives.
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