Trump-Backed Truth Social and Bitcoin ETF Move
Trump Media partner Yorkville America Digital has filed a Bitcoin ETF application under the Truth Social brand. The ETF, planned to be traded on the NYSE Arca exchange, will track the price of Bitcoin and will be held in custody by asset custodian Foris DAX Trust Company. The 19b-4 filing with the SEC has officially kicked off the regulatory process. The SEC must make an initial decision on whether to approve the application within 45 days; the total evaluation period can be extended to 240 days.
The Truth Social Bitcoin ETF adds a new one to the crypto projects Trump is already involved in. Trump and his family have previously linked to NFT collections, memecoins, a stablecoin, a mining company and various crypto platforms. Trump Media also plans to integrate a digital wallet and crypto payment system into its video platform called Truth+. The aim is to create a token system that will allow Truth+ subscription fees to be paid with crypto and will be used in more products and services in the future.
Ripple and Solana Agreements Make Dubai a Crypto Hub
Dubai is on its way to becoming a global blockchain innovation hub with its new collaborations with Ripple and Solana. The Solana Foundation has signed a memorandum of understanding with Dubai’s virtual asset regulator VARA, focusing on education, talent development, and support for Web3 projects. The Dubai Solana Economic Zone will also be part of this collaboration.
At the same time, Ripple’s US dollar-backed stablecoin RLUSD has been approved by the Dubai Financial Services Authority (DFSA). RLUSD can now be used in the Dubai International Financial Centre (DIFC). With this move, Ripple aims to expand digital payment solutions in the Middle East.
California Assembly Takes Crypto Payment Step
The California State Assembly has unanimously approved a bill that will allow state institutions to accept cryptocurrency payments. Assembly Bill 1180 (AB 1180), which passed with a vote of 68-0, has now been sent to the State Senate. If approved, the law will go into effect on July 1, 2026, with a pilot program that will last until 2031.
The bill aims to create a regulatory framework to allow payments via digital financial assets. In this context, the DFPI (Department of Financial Protection and Innovation), which will make the regulations, will submit a report on all crypto transactions by 2028. The bill was also prepared to be compatible with the state’s Bitcoin rights law AB 1052.
Trump Crypto Wallet Introduced, Family Rejected
Magic Eden announced that it has launched a Trump-branded crypto wallet and trading app in collaboration with the Trump memecoin team. However, Trump’s sons Donald Jr. and Eric Trump announced on social media that they have nothing to do with the project. Both names stated that the official wallet they support, called “World Liberty Financial,” will be released soon.
With this development, at least three different Trump-related wallets are expected to be launched. Magic Eden CEO Jack Lu said that the new app will allow transactions with memecoins as well as major cryptocurrencies. It was also recalled that Trump Media had previously applied for a wallet called “Truth.Fi” and planned to purchase $ 2 billion worth of Bitcoin.
The Blockchain Group Increased Its Bitcoin Assets to 1,471 BTC
The Blockchain Group, traded on Euronext Growth Paris, spent 60.2 million euros to purchase another 624 BTC, increasing its total Bitcoin holdings to 1,471 BTC. This purchase was made with a total of 62.1 million euros in funds provided by a private capital increase and a convertible bond issuance supported by Fulgur Ventures.
The company’s Bitcoin assets reached a value of 131.9 million euros, while the BTC return since the beginning of 2025 has been 1,097.6%. The company, which earned a total of 439 BTC during the year, continues its growth as Europe’s first Bitcoin treasury company.
Classover establishes SOL treasury with $500 million deal
Education technology company Classover has signed an agreement to raise up to $500 million to create a Solana (SOL)-based corporate treasury. The Nasdaq-listed firm will issue senior secured convertible notes under the agreement with Solana Growth Ventures LLC. Up to 80% of the net proceeds will be allocated directly to the SOL purchase.
The move, together with the previously announced $400 million share purchase agreement, brings Classover’s total potential financing capacity to $900 million. CEO Stephanie Luo said the move strengthens the company’s blockchain-focused financial strategy. Classover shares rose 39.85% following the announcement.
South Korea’s New President Promises Bitcoin-Friendly Policies
Democratic Party candidate Lee Jae-myung, who won the presidential election in South Korea, is drawing attention with his pro-crypto stance. Lee has vowed to legalize Bitcoin ETFs and launch a won-backed stablecoin. He also supports large institutional investors like the National Pension Fund investing in crypto assets.
The new president’s plan to integrate digital assets into the economy may face challenges due to South Korea’s strict capital markets laws. Still, Lee’s election raises hopes that the country could reform crypto regulations and become more in line with global financial trends.
Britain’s First Regulated Sterling Stablecoin tGBP Launches
BCP Technologies has launched the UK’s first Financial Conduct Authority (FCA)-approved British pound stablecoin, Tokenized GBP (tGBP). Each tGBP is backed by a 1:1 reserve held at a regulated financial institution in the UK and can be converted into sterling at any time. The launch follows a 14-month review and a one-month participation in the FCA’s regulatory sandbox program.
The aim of tGBP is to provide users with a familiar GBP experience by removing the complexity of blockchain technology, according to CEO Benoit Marzouk. In a market dominated by US dollar-pegged stablecoins, tGBP aims to make a difference by offering an alternative to the British pound. The launch also coincides with the FCA’s public consultation process on stablecoin and crypto custody rules, which began on May 28.
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BITCOIN(BTC)
Bitcoin is struggling to hold on to $105,000 levels after falling below the rising trend line. The level of 107.319 acts as short-term resistance, and if this is broken, a move towards 111.861 could be seen again. Closing below 105,000 may bring the 101,315 and 94,915 support levels to the agenda.
ETHEREUM(ETH)
Ethereum is trading within the horizontal channel between 2,850-2,500, with the reaction from the $ 2,100 level. Unless there is a volume break above the upper band of the channel, 2,850, the price may continue its horizontal compression. In case of closing below 2,500, there is a risk of a sharp pullback towards the 2,100 region.
RIPPLE(XRP)
XRP reacted sharply upwards with the support it received from the liquidity area in the 2.11 region. The 2.24 level works as a pivot point in the short term. If this level is maintained, the 2.36 and 2.48 resistances can be tested. Otherwise, a pullback to the 2.15-2.11 support band may be seen again.
AVALANCHE(AVAX)
AVAX is following a sideways trend after being rejected at 21.48. While the 20.25 level acts as support, the price’s protection of this level keeps bullish hopes alive. Upward momentum may remain weak as long as daily closes are not made above 21.48. Closings below 20.25 may accelerate sales.
SOLANA(SOL)
The Solana price entered a downtrend after being rejected from the 166.26 resistance and is trying to find balance at 156 levels. While the 148-144 band stands out as a strong demand area for now, selling pressure may increase if this area falls below. For the continuation of upward movements, the 166.26 level must first be exceeded and maintained above. 176.27 and 184.94 can be watched as the next resistance levels.
