By Frank Martin (MoneyAmped.com)
The feud between the world’s richest person, Elon Musk, and US President Donald Trump triggered a downtrend last Thursday, with Bitcoin briefly plunging below $101,000. However, growing optimism that the US and China could seal a trade deal has pushed BTC above $107k at press time.
So, what other crypto stories have made headlines in the past seven days? Well, read our article to find out.
Japanese ‘Strategy’ Mataplanet Plans to Buy At Least 91,000 BTC Before 2026 Ends
Nicknamed the Japanese Strategy, investment firm Metaplanet has revealed its plans to acquire 91,000 Bitcoin by December next year. Interestingly, the company had previously announced that it would buy 21,000 BTC before the end of that year.
The latest announcement followed Metaplanet boss Simon Gerovich’s tweet that the firm had purchased 1,088 Bitcoin at the start of June, bringing its total BTC holding to 8,888. Gerovich expressed optimism that his firm will own over 100,000 Bitcoin in Q2 of 2027.
Crypto Exchange Gemini Files for IPO
Popular American crypto exchange Gemini submitted an application for an IPO (initial public offering) to the Securities and Exchange Commission last week. The co-founders of the trading platform, Cameron and Tyler Winklevoss, said they made the move after noticing renewed investor interest as uncertainty caused by trade wars continues to fade away.
Details regarding the price and the number of shares to be made available for sale haven’t been announced yet. Furthermore, the date when the IPO will be conducted wasn’t mentioned in the filing.
Moroccan Police Arrest Suspect Behind French Crypto Kidnappings
A man accused of masterminding the kidnapping of crypto personalities in France was nabbed in Morocco last Wednesday. The 24-year-old, Badiss Mohamed Amide Bajjou, was arrested at the request of France’s Ministry of Justice, headed by Gerald Darmanin, who applauded Moroccan authorities for the arrest in an X post.
US SEC Receives $1.1M as Accused Crypto Scammer Fails to Show Up in Court
The court has awarded the SEC (Securities and Exchange Commission) $1.1 million after Keith Crews, the man accused of operating a cryptocurrency pyramid scheme, failed to attend a court session to answer the charges brought against him by the agency.
According to the court filings, Judge Tiffany Johnson demanded that Crews pay the US SEC $1.1 million in financial penalties for his involvement in the alleged crypto scam, from which he allegedly made over $530,000 from his victims. Additionally, Johnson has banned Crews from running any crypto business that involves the sale of securities in the future.
Millionaire Crypto Trader Loses $25M on Leveraged BTC Trade
Popular leveraged crypto trader on X, James Wynn, lost nearly $25 million last Thursday after his long trade on Bitcoin got liquidated. The downtrend that led to the liquidation followed Elon Musk’s tweet that encouraged US policymakers to throw out Trump’s ‘Big Beautiful Bill.’
Wynn, who is known for opening a long trade on BTC worth over $1.2 billion in May, has lost at least $100 million in the past two weeks, according to Hypurrscan data.
US Authorities Seize Crypto Linked to Dark Web Marketplace BidenCash
The US Attorney’s Office for the Eastern District of Virginia announced last Wednesday that an undisclosed crypto amount linked with Bidencash, a well-known dark web marketplace said to have enabled the sale of stolen credit cards since 2022, was seized.
US officials claim that BidenCash has facilitated over 14 million illegal transactions in the past three years, generating revenue of $17 million.
Winners and Losers
Most of the top ten crypto assets have posted slight gains in the last seven days, with TRON leading the pack following a 5.4% rally. Meanwhile, Hyperliquid, which is up 11.6%; Leo Token, up 10.3%; and Internet Computer, which has risen by 19%, are the biggest gainers among the big 50 by market cap this week. Top losers include Monero (8.6%) and Cronos (6.7%).
