The SEC Clears Trump Media to Begin Bitcoin Buying

The SEC has approved Trump Media’s registration for its $2.3 billion Bitcoin treasury initiative, unlocking capital raised from roughly 50 institutional investors. The decision was made Friday, setting the stage for one of the largest BTC buys by a public company.

Trump Media, majority-owned by President Donald Trump, may now acquire Bitcoin or BTCrelated assets at its own discretion. “TMTG’s bitcoin strategy may also include purchasing bitcoin-related securities or, given certain market conditions, selling Bitcoin,” the press release reads.

The firm declined to specify its BTC purchase timeline or allocation plans but filed a $12 billion universal shelf to enable future stock, debt, or warrant issuance. It also registered 84.7 million shares for resale, equal to half the public float and 30% of all outstanding DJT shares.

Trump Media operates the Truth Social platform, the Truth+ streaming service, and the newly launched fintech brand TruthFi. CEO Devin Nunes said the firm is “aggressively implementing our plans to expand the Company, our offerings, and our capabilities.”

Walmart And Amazon Consider Launching Stablecoins

Walmart and Amazon are exploring the launch of U.S. dollar-backed stablecoins, according to a Friday report from The Wall Street Journal. Both companies aim to reduce payment friction, improve settlement speed, and cut processing fees across their massive commerce networks. However, plans are contingent on new federal legislation governing stablecoins.

The bipartisan GENIUS Act, which would establish a regulatory framework for fiat-pegged tokens, is up for a Senate vote on June 17. President Trump has urged lawmakers to pass stablecoin rules by August, accelerating industry momentum. If approved, the law could open the door for major firms like Amazon and Walmart to enter the digital payments arena.

Asset Managers File Updated S-1s For Solana ETFs

Several asset managers, including Franklin Templeton and Fidelity, filed updated S-1 forms with the SEC on Friday for spot Solana ETFs. The filings suggest growing optimism around regulatory approval, following earlier agency requests for clarification on redemption and staking policies. Bloomberg’s Eric Balchunas believes approval could come within two to four months.

VanEck's new filing includes language on staking, signaling intent to offer yield alongside price exposure. The SEC has already approved spot Ethereum and Bitcoin ETFs but remains cautious with alternative tokens. Analysts say Solana’s CME futures listing and its performance track record may improve its approval chances under a more crypto-friendly regulator.

SharpLink Buys $463M In Ethereum Treasury Push

SharpLink Gaming has acquired over 176,000 ETH worth $463 million, making it the second-largest holder behind the Ethereum Foundation. The Nasdaq-listed firm says Ethereum will serve as its primary treasury asset as part of a broader strategy to adopt onchain infrastructure. CEO Rob Phythian called ETH “foundational capital” for decentralized commerce.

Funding came from a $425 million private round led by Consensys and supported by top crypto VCs like Pantera and Galaxy. SharpLink raised an additional $79 million through equity sales between May 30 and June 12 to further expand its ETH holdings. However, shares dropped 70% this week after a disclosure of a possible 68 million share resale.

Data of the Day

President Donald Trump has revealed $57.4 million in income tied to World Liberty Financial, a DeFi project he co-founded with sons Donald Jr. and Eric. The disclosure, filed June 13 with the Office of Government Ethics, lists over 15 billion governance tokens held by the president. The earnings reportedly stem from token sales in late 2024 and early 2025.

World Liberty Financial launched in September 2024 and has since raised $550 million across two funding rounds. Major backers include Justin Sun and Web3Port, with investments totaling over $40 million. Trump’s growing crypto involvement has drawn scrutiny, particularly as the project’s stablecoin ambitions intersect with active legislation on Capitol Hill.

More Breaking News

• Uphold is exploring how to use Flare network for XRP staking, with CEO Simon McLoughlin calling the workaround “feasible and promising” despite XRP lacking native staking.
• Vietnam has legalized crypto under a sweeping new digital law set to take effect in 2026, as part of broader efforts to boost AI and tech innovation.
• The Ethereum Foundation donated $500K to support Tornado Cash co-founder Roman Storm’s legal defense, with a matching goal of $750K from the community.
• Charles Hoskinson proposed swapping $100M of ADA for Bitcoin and stablecoins to boost Cardano’s DeFi sector, despite contrasting views from other Cardano leaders.
• The U.S. Senate will hold a final vote on the GENIUS Act on Tuesday, aiming to create a legal framework for stablecoins fully backed by dollars or liquid assets.
• Anthony Pompliano is set to lead ProCapBTC, a new vehicle planning to raise $750M for a large Bitcoin acquisition via SPAC merger, per the Financial Times.
• Michael Saylor signaled a fresh Bitcoin buy next week despite rising geopolitical risks, as Strategy eyes more BTC amid its $20B unrealized gains.
• Shaquille O’Neal will pay $1.8M to settle claims he misled investors by promoting FTX, nearly doubling the fee he reportedly earned from the campaign.
• Polkadot’s community is divided over a proposal to convert 500K DOT into Bitcoin using a year-long DCA strategy, citing mixed views on market timing.

For the latest updates on digital asset markets, follow us on X @Datawalletcom.