Weekly Crypto Recap: This week was packed with big moves, strange signals, and a mix of hope and caution. From blockchain experiments by JPMorgan to whales buying thousands of Bitcoin, the week showed us that crypto is getting more serious, and more complex. Here’s everything that happened, grouped by topic.
When Big Players Move
One of the most important things this week was what traditional institutions did. And there were many signals that big money is not just watching crypto anymore, they’re participating.
JPMorgan, one of the biggest banks in the world, completed its first transaction on a public blockchain. They used Chainlink and Ondo Finance to move tokenized US Treasury bonds across chains. This is called a cross-chain Delivery versus Payment (DvP) deal. It’s the first of its kind and a big step toward mixing old finance with new tech.
At the same time, Coinbase officially joined the S&P 500 index, a group of the top 500 companies in the US This is a big moment for crypto. It shows that even traditional markets now see crypto companies as serious players. Coinbase’s stock went up after the announcement.
Source | Tradingview
Governments and investment funds also stepped in. According to a report from Bitwise, more than 10 countries have bought 200,000 BTC since January, worth over 20 billion USDT. That’s not a rumor; it’s based on real data. The Abu Dhabi fund (Mubadala) confirmed it owns nearly 9 million shares of BlackRock’s Bitcoin ETF (IBIT), valued at over $400 million.
And there’s more. Warren Buffett now holds 5.1% of the US Treasury bills market, which is more than some entire countries. That move has people guessing: is he being careful, or does he know something the rest of us don’t?
Bitcoin: Buying, Holding, and Hoping
Bitcoin stayed around the 103k–104k range during the week. But that doesn’t mean nothing happened. Behind the price, there was a lot going on.
Cantor Equity Partners bought nearly 459 million USDT worth of BTC, a total of 4,812 Bitcoin, in a deal that involved Tether, iFinex, and Twenty One Capital. This follows the so-called “Saylor Strategy”, where big investors buy and hold large amounts of Bitcoin long-term.
In fact, Michael Saylor’s firm alone accounts for 77% of all corporate Bitcoin buying in 2025 so far. That’s huge. Meanwhile, BlackRock’s ETF (IBIT) added 10,572 BTC this week, while only 3,150 BTC were mined. This means demand is stronger than supply.
Bitcoin holders don’t seem scared. Long-term holders have added 630,000 BTC since March. Total holdings are now 14.29 million BTC, showing that large investors still believe.
Market data shows that bullish sentiment is rising. The Bitcoin Bull Indicator, tracked by CryptoQuant, jumped from 20 to 80. That means more people expect prices to go up, not down.
Hacks, Trials, and Privacy Concerns
Not everything was positive. The week also had news about hacking, legal troubles, and privacy issues.
An Alabama man, Eric Council Jr., was sentenced to 14 months in prison for helping hack the SEC’s X account in January 2024. He did this through a SIM swap attack, which let hackers tweet a fake message about a Bitcoin ETF. That tweet caused BTC to spike by over a 1,000 USDT for a short time.
Surveillance footage showing Eric Council Jr. in a Huntsville, Alabama, AT&T store posing as an employee of the U.S. Securities and Exchange Commission. Source | CNBC
In another courtroom case, Tornado Cash co-founder Roman Storm is set to appear in court on July 14, 2025. Some charges were dropped, but he still faces money laundering accusations. His trial could shape the future of privacy tools in crypto.
Meanwhile, Coinbase suffered a serious KYC data breach. Hackers reportedly accessed names, addresses, phone numbers, emails, ID photos, bank data, and full transaction records. The leak has people asking whether collecting all this data is safe, or even necessary.
ETF Updates and FTX Repayments
The world of ETFs (exchange-traded funds) and bankrupt exchanges also saw new developments.
The FTX estate announced it will start repaying users on May 30. More than $5 billion will be sent to creditors using BitGo and Kraken. Some users will receive between 54% and 120% of what they lost. FTX might end up paying as much as $16 billion overall.
Breakdown of the second round of FTX repayments. Source | X @Sunil_trades
While that was a step forward, other things were delayed. The 21Shares Spot Polkadot ETF was supposed to get an answer from regulators, but the SEC postponed its decision to June 11. This is just one of several crypto ETFs still waiting for approval. The delay is not just about Polkadot, it could show how regulators feel about XRP, Solana, and Litecoin ETFs, too.
Growing Blockchains and Ecosystem Moves
Some blockchain networks showed strong signs of growth and activity.
The Sui Network had over 90 billion USDT in total DEX trading volume, with Cetus Protocol responsible for more than half of that. Sui also partnered with 21Shares to create new products and bring more institutional interest to its ecosystem.
Base, Coinbase’s Layer 2 network, saw huge growth too. It now has over 2 million active addresses and logged 11.8 million transactions in the past month. Coinbase also announced that it will soon release wrapped tokens on Base, including cbADA, cbDOGE, cbLTC, and cbXRP.
Other chains also performed well:
- Avalanche (AVAX) had 168% growth in transactions.
- BNB Chain grew 62%.
- zkSync went up by 39%.
- Scroll and Base had solid gains too.
Also, Cardano (ADA) is now available in Brave Wallet, making it easier to access ADA and other Cardano tokens straight from the privacy-focused browser.
Middle East Focus: AI, Crypto, and Strategy
The Middle East continued making moves in tech and finance.
The UAE government launched a full AI-powered service platform called TAMM. It offers 950+ real-time services, no forms, no waiting. Microsoft said this kind of system should be brought to the US
Dubai’s finance authority signed an agreement with Crypto.com to accept crypto payments for government services. This could make Dubai an even stronger tech and blockchain hub.
Saudi Arabia’s central bank revealed that it now owns a stake in Strategy, a move that shows a growing interest in global digital investments.
Investor Kevin O’Leary called the UAE the third strongest country in AI. He saw AI-run real estate projects and even went through an advanced blood treatment that is banned in the US He said it made him feel 18 again.
Global Politics and Economic Signals
This week also brought some mixed signals in the global economy.
The Producer Price Index (PPI) for April was 2.4%, lower than the 2.5% expected. But March numbers were revised upward from 3.3% to 4.0%, which means inflation was worse than people thought.
The Consumer Price Index (CPI) also came in low: only 0.2% for the month, and 2.3% year-over-year for core inflation. These numbers helped crypto prices and weakened the US dollar.
Still, big investors seemed nervous. Michael Burry sold all his stocks. Warren Buffett went deeper into Treasuries. Some think it’s because the Federal Reserve may keep rates high longer. Others point to the risk of recession in Japan.
And in politics, Donald Trump announced that the US will send letters to several countries to start new trade talks. His advisor Hassett said there are already 25 trade deals ready to go if Trump returns to office.
What the Community Noticed
Some smaller stories also got attention.
The co-founder of Aptos said he now holds a big amount of Sui, which made people talk more about Sui’s future.
WisdomTree, a $100B asset manager, said XRP is the only altcoin that fits next to Bitcoin in a serious investment plan. That’s a strong statement for XRP holders.
And finally, crypto trader moods are still mixed. The bulls are active, but the bears are showing up too. Over $33 million went into put options against the “Magnificent 7” tech stocks this week.
Final Thought
This week was a mix of firsts and warnings. Big banks touched real blockchain. ETFs moved forward and backward. Institutions kept buying, while hackers reminded us how fragile trust can be. Inflation fell, but fear stayed.
Crypto isn’t on the edge anymore. It’s in the room. But not everyone agrees on what comes next.
This article is not financial advice. For more analysis, visit blog.millionero.com and trade spot or perps 24/7 on Millionero.