Crypto Weekly Roundup: SEC Drops Cases, GameStop Follows Strategy, & More

The SEC has continued dropping multiple investigations and cases into major crypto firms. This week, the agency ended investigations into Crypto.com and Immutable, reflecting its shifting regulatory stance. GameStop plans to raise $1.3 billion, partially for Bitcoin investment, while Coinbase is in talks to acquire Deribit. 

Meanwhile, Wyoming is testing its state-backed stablecoin, Trump Media is launching crypto ETFs, and the DOJ has seized $200,000 in crypto linked to Hamas. Read more. 

Bitcoin

GameStop Corp. has announced plans to raise $1.3 billion through a private offering of convertible senior notes, with a portion of the proceeds earmarked for acquiring Bitcoin.  

According to blockchain analytics firm Arkham Intelligence, defunct Japanese crypto exchange Mt. Gox has transferred 11,501 BTC in its third major transaction in less than a month.

Technology

Wyoming is set to introduce the first fiat-backed, fully reserved stablecoin issued by a U.S. public entity with the Wyoming Stable Token (WYST), which is currently undergoing testing across multiple blockchain networks, with a planned launch in July 2025.

Business

Crypto exchange Coinbase is reportedly in advanced talks to acquire crypto derivatives exchange Deribit, the world’s largest exchange for trading Bitcoin and Ether options.

Trump Media and Technology Group has partnered with Crypto.com to launch ETFs under its Truth.Fi brand, integrating digital assets and securities with a focus on American industries, pending regulatory approval.

Web3

TZ APAC, in conjunction with Fortify Labs, has announced its second wave of cohort inductees with Bluwhale, Facial DN(A+I) Network, IDRX, Lilypad, and Predictwise making the grade of 2025.

Security

The U.S. Department of Justice (DOJ) has announced the seizure of over $200,000 worth of cryptocurrency linked to the militant group Hamas.

Regulation

US President Donald Trump has pardoned three co-founders of the BitMEX cryptocurrency exchange and a fourth high-ranking former employee, who were initially accused of running the exchange as a money laundering platform. 

The SEC has officially ended its investigation into Crypto.com without taking action, as part of a broader shift that has seen the regulator drop multiple cases against major crypto firms in recent weeks.

Former U.S. Commodity Futures Trading Commission (CFTC) Chairman Timothy Massad has raised serious concerns over potential conflicts of interest in former President Donald Trump’s growing involvement in cryptocurrency. 

The SEC has ended its investigation into Web3 gaming firm Immutable with no findings of wrongdoing, marking another dropped crypto probe amid the regulator’s shifting stance on enforcement.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.