Strategy To Retire $1.5 Billion Debt Through Potential BTC Sales

Strategy agreed to repurchase $1.5 billion of its 2029 convertible senior notes for about $1.38 billion, marking the first large move in its plan to shrink an $8.2 billion debt stack. The company said the buyback is part of a broader effort to equitize and simplify its capital structure.

To fund the repurchase, Strategy listed three sources in its filing: cash on hand, proceeds from its at-the-market stock program, and proceeds from the sale of Bitcoin. That language sharpened a shift already hinted at by Michael Saylor and executives, who recently said sales could be used selectively.

The decision lands as Strategy leans more heavily on its STRC preferred stock, which carries an 11.5% annual dividend and has grown to an $8.4 billion market cap. Earlier losses on Bitcoin and looming maturities had revived questions about leverage, sustainability, and the company’s ability to manage obligations smoothly.

The repurchase would leave another $1.5 billion from the 2029 tranche still outstanding, while roughly $1 billion in notes can be put back as early as September 2027. Traders have rapidly repriced the odds of a Bitcoin sale, and peers such as Strive are also moving to retire debt.

Trump Ethics Filings Reveal Crypto Stock Trades

New ethics filings show President Donald Trump reported trades in Coinbase, Robinhood, and Bitcoin mining stocks through accounts managed by outside institutions. The disclosures cover thousands of transactions across more than 100 pages. Reported trade ranges ran from roughly $1,000 to as much as $5 million.

The largest crypto-linked buy was a February Coinbase purchase valued between $100,001 and $500,000, while Robinhood and smaller miner trades also appeared. Trump Organization representatives said neither the president nor his family directs the investments. The filings land as Congress still argues over ethics language in crypto legislation.

THORChain Opens Claims After $10 Million Hack

THORChain confirmed a $10 million exploit affecting 12,847 wallets across Bitcoin, Ethereum, BNB Chain, and Base, then opened a recovery portal for claims. The protocol said node operators detected suspicious outflows at 02:14 UTC on May 11. Trading and outbound signing were paused within eight minutes.

Users have 21 days to revoke approvals and submit refund requests backed by a treasury pool sized to match the losses. THORChain said a likely flaw in its GG20 signature scheme leaked vault key material over time. Investigators are also tracing a recently churned node linked to the attack.

Poland Passes MiCA Amid $96 Million Probe

Poland’s parliament approved a government-backed MiCA bill, moving to finalize domestic crypto rules before firms risk losing authorization under European timelines. The vote came after lawmakers debated four rival proposals in Warsaw. Prosecutors are simultaneously investigating Zondacrypto, where user losses are estimated near $96 million.

The legislation still faces political tension because President Karol Nawrocki previously vetoed earlier crypto bills and favored lighter penalties for obstructing inspections. A separate Law and Justice proposal seeking a nationwide crypto ban remains in reserve. The immediate priority is getting Poland’s market rulebook aligned with MiCA.

Data of the Day

US spot Bitcoin ETFs logged $1 billion in net outflows last week, ending a six-week run that had brought in $3.4 billion. Selling accelerated after modest Monday inflows, then worsened through midweek. Wednesday alone accounted for $635.23 million, the heaviest daily redemption during the reversal.

Analysts pointed to capital rotation toward artificial intelligence equities and a broader wait for macro direction on regulation, China, and risk appetite. Total net assets fell to $104.29 billion. Spot Ether ETFs also stayed under pressure, losing $254.46 million across five straight sessions.

More Breaking News

• OKX and Korea Investment and Securities are reportedly discussing 20% stakes each in Coinone, a move that would deepen South Korea consolidation and mirror Binance’s earlier Gopax push.
• VanEck and Grayscale filed fresh BNB ETF amendments as analysts flagged possible SEC engagement, while Canary advanced a staked TRX fund with new custodial details.
• Faisal Monai said Saudi Arabia has secured $12.5 billion in tokenization mandates and aims to prove by 2030 that sovereign-grade blockchain infrastructure can run core markets.
• OpenSea’s Adam Hollander said the next NFT cycle could center on tokenized Pokémon cards, Rolexes, tickets, and AI-made assets rather than speculative profile pictures.
• Justin Sun-led Liberland awarded Vitalik Buterin its highest state honor at ETH Prague, using the ceremony to promote blockchain governance, digital citizenship, and micronation branding.
• Intesa Sanpaolo lifted crypto exposure to about $235 million in the first quarter, adding Ethereum and XRP while sharply cutting Solana and expanding Bitcoin-linked positions.

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