Hodler’s Digest, June 8 – 14 – Cointelegraph Magazine

Top Stories of The Week

Anthony Pompliano to lead new Bitcoin-buying group raising $750M: FT

Cryptocurrency entrepreneur Anthony Pompliano is reportedly in talks to launch a new Bitcoin-buying vehicle that will seek to raise $750 million.

Pompliano is expected to become CEO of ProCapBTC, a special purpose acquisition company that is set to merge with the publicly traded blank check vehicle Columbus Circle Capital 1, the Financial Times reported on Friday.

Under Pompliano’s leadership, which is still under discussion, ProCapBTC would seek to raise $500 million in equity and $250 million in convertible debt as part of a merger with Columbus Circle Capital 1, backed by the Cohen & Company investment bank.

Bitcoin slides to $103K as Israel launches airstrikes on Iran

Bitcoin has tumbled closer to the psychologically important $100,000 price level, dashing traders’ hopes of a new all-time high after Israel launched a series of airstrikes on Iran.

Explosions reportedly rocked Iran’s capital of Tehran at 22:50 UTC on Thursday before Israel claimed responsibility for the attacks, which saw Bitcoin drop 2.8%, from $106,042 to $103,053, within 90 minutes, before slightly recovering to $104,370 at the time of publication, according to CoinMarketCap.

The drop caught traders offside, with approximately $427.84 million in long positions liquidated over the past 24 hours, according to CoinGlass data. Just days earlier, on Tuesday, Bitcoin had climbed as high as $110,265, just below its May 22 all-time high of $111,940.

SEC axes Biden-era proposed crypto rules in flurry of repeals

The US Securities and Exchange Commission has rescinded a slate of rules the agency proposed under the Biden administration, including two relating to crypto custody and exchanges.

The SEC said on Thursday that it was “withdrawing certain notices of proposed rulemaking” that were issued between March 2022 and November 2023 under former Chair Gary Gensler.

The agency added that it “does not intend to issue final rules with respect to these proposals,” and new rules will be proposed should it change its stance in future regulatory action. 

It’s President Donald Trump’s latest regulatory rollback, which has promised sweeping deregulation of crypto and traditional markets.

SharpLink buys $463M in ETH, becomes largest public ETH holder

Sports betting platform SharpLink Gaming has acquired 176,271 Ether for $463 million, becoming the world’s largest publicly traded holder of ETH.

In a Friday announcement, the Nasdaq-listed company said the Ether acquisition was funded through a combination of private placement and at-the-market equity sales, including $79 million raised since May 30. The average acquisition price came in at $2,626 per coin.

The company said over 95% of its ETH is now deployed in staking and liquid staking platforms, earning yield while contributing to Ethereum’s network security.

Peter Thiel-backed crypto exchange Bullish files for US IPO: FT

Bullish, the digital asset exchange backed by billionaire investor Peter Thiel, has filed confidential paperwork with the US Securities and Exchange Commission (SEC) for an initial public offering (IPO), according to sources cited by the Financial Times.

American investment bank Jefferies has been tapped as the lead underwriter for the offering, per the report. Bullish has not issued a public statement on its plans.

The move positions Bullish among a wave of crypto companies looking to capitalize on renewed investor enthusiasm and a friendlier regulatory tone under US President Donald Trump.

Winners and Losers

At the end of the week, Bitcoin (BTC) is at $105,362, Ether (ETH) at $2,553 and XRP at $2.15. The total market cap is at $3.29 trillion, according to CoinMarketCap.

Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Aerodrome Finance (AERO) at 44.12%, Kaia (KAIA) at 42.19% and AB (AB) at 41.96%.

The top three altcoin losers of the week are DeXe (DEXE) at 13.95%, Sonic (S) at 11.97% and Worldcoin (WLD) at 10.89%. For more info on crypto prices, make sure to read Cointelegraph’s market analysis.

Most Memorable Quotations

“Indeed, we expect our industry will evolve more in the next five years than in the last 50.”

Jenny Johnson, president and CEO of Franklin Templeton

“Is Bitcoin $BTC following its 2022 script and setting up for a 75%…