Japanese investment firm Metaplanet is intensifying its Bitcoin acquisition strategy by issuing $21.25 million in zero-coupon bonds, with all proceeds earmarked for purchasing more Bitcoin. This move follows closely on the heels of its recent $53.4 million investment to acquire 555 BTC, bringing its total holdings to 5,555 BTC.

The newly issued bonds, termed “0% Ordinary Bonds,” offer no interest to holders and are typically sold at a discount, maturing at full face value. Metaplanet plans to allocate these bonds to EVO Fund, an investment management firm based in the Cayman Islands, with a redemption date set for November 7.

At current Bitcoin prices, the funds raised could enable the purchase of approximately 206 BTC, further solidifying Metaplanet’s position as Asia’s largest public corporate holder of Bitcoin and the 11th largest globally.

In addition to its aggressive acquisition strategy, Metaplanet announced plans on May 1 to establish a wholly owned U.S. subsidiary, Metaplanet Treasury, based in Florida. The subsidiary aims to raise up to $250 million to further its Bitcoin strategy and tap into U.S. capital markets.
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Metaplanet’s stock (3350T) has experienced a significant surge, increasing over 1,600% in the past year, reflecting investor confidence in its Bitcoin-centric approach.

This latest bond issuance underscores Metaplanet’s commitment to expanding its Bitcoin reserves, aligning with a broader trend of corporations integrating cryptocurrency into their treasury strategies.

President Donald Trump was reportedly misled into endorsing Ripple’s XRP token as part of a proposed U.S. strategic cryptocurrency reserve, following a suggestion from a lobbyist associated with Ripple Labs.

According to a May 8 report by Politico, an employee of pro-Trump lobbyist Brian Ballard provided President Trump with a draft social media post recommending the inclusion of XRP, Solana (SOL), and Cardano (ADA) in a national crypto reserve. Trump subsequently shared the message on his Truth Social platform on March 2. It was only after the post went live that Trump learned of Ballard’s connection to Ripple, leading to his reported frustration and a decision to distance himself from the lobbyist.

Despite the initial misstep, President Trump proceeded to formalize the concept of a “Digital Asset Stockpile” by signing an executive order on March 6. This move signaled a shift in his administration’s approach to digital assets, aiming to position the United States as a leader in the cryptocurrency space.

Ripple’s ties to the Trump administration extend beyond this incident. Stuart Alderoty, Ripple’s chief legal officer, contributed over $300,000 to pro-Trump fundraising efforts during the 2024 election cycle. Both Alderoty and Ripple CEO Brad Garlinghouse met with then-President-elect Trump in January and attended his inauguration events. Additionally, Ripple donated $5 million worth of XRP to Trump’s inaugural fund and has been a significant contributor to Fairshake, a political action committee supporting pro-crypto candidates.

Following the announcement, XRP’s market performance remained relatively stable. As of the latest data, XRP is trading at approximately $2.31, reflecting a modest increase of 6.45% over the previous 24 hours.
The incident underscores the complex interplay between political influence and the cryptocurrency industry, highlighting the need for transparency and due diligence in policy-making processes.

Coinbase has announced its acquisition of Deribit, a leading crypto derivatives exchange, in a $2.9 billion deal aimed at expanding its global presence in the derivatives market. The transaction comprises $700 million in cash and 11 million shares of Coinbase Class A common stock, with the deal expected to close by the end of 2025, pending regulatory approvals.

Deribit, known for its significant trading volumes in Bitcoin and Ethereum options, recorded over $1.2 trillion in trading volume in 2024. The acquisition will enable Coinbase to integrate Deribit’s technology, enhancing its offerings in spot, futures, perpetuals, and options trading. This move aligns with Coinbase’s strategy to diversify its services and strengthen its position in the crypto derivatives market.

As part of the acquisition, Deribit’s founders, John and Marius Jansen, will step away from the company, marking the end of their joint venture that began in 2014. Deribit will continue its operations as usual until the deal is finalized.

Coinbase’s acquisition of Deribit reflects a broader trend of consolidation in the cryptocurrency industry, as exchanges seek to expand their product offerings and global reach. This strategic move positions Coinbase to capitalize on the growing demand for crypto derivatives trading among both retail and institutional investors.