German authorities have seized €34 million ($38 million) in cryptocurrency from eXch, a platform allegedly used to launder funds stolen during the $1.4 billion Bybit hack in February 2025. This operation marks the third-largest crypto confiscation in the history of Germany’s Federal Criminal Police Office (BKA).

The seizure, announced on May 9 by the BKA and Frankfurt’s main prosecutor’s office, involved multiple crypto assets, including Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Dash (DASH). Authorities also shut down eXch’s German server infrastructure, securing over eight terabytes of data.

eXch, operational since 2014, functioned as a “swapping” service, allowing users to exchange various crypto assets without implementing Anti-Money Laundering (AML) measures. The platform reportedly facilitated about $1.9 billion in crypto transfers, some believed to be of criminal origin, including assets laundered during the Bybit hack.

Crypto investigator ZachXBT linked eXch to laundering millions from other crypto thefts, such as Multisig, FixedFloat, and the $243 million Genesis creditor theft. He also noted eXch’s involvement in numerous phishing drainer services over the past few years.

Initially denying involvement in laundering funds from the Bybit hack, eXch announced it would cease operations by May 1, citing a hostile environment and misinterpretation of its goals.

Senior public prosecutor Benjamin Krause emphasized the importance of targeting anonymous money laundering avenues, stating that crypto swapping is a key component of the underground economy, used to conceal funds from illegal activities such as hacking or trading in stolen payment card data.

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.