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Trump memecoin generates $172M in trading fees despite supply concentration concerns.
Strategy invests $472M in Bitcoin, adding 4,225 BTC to its holdings amid price surge.
Grayscale files confidential IPO registration with SEC, exploring public market funding options.
The crypto world today witnessed some remarkable progress in the cryptocurrency markets, as major tokens and entities saw considerable activity. The official Trump memecoin has generated massive trading fees by exchanges, despite regulatory warnings and concerns about supply concentration.
Meanwhile, a key purchase of Bitcoin occurred in the Strategy firm founded by Michael Saylor, who recently bought the asset at its highest price ever. Further, Grayscale submitted secret IPO documentation with the SEC, indicating increased institutional interest in publicly accessible crypto investment composites. These developments highlight the growing maturation and changing shape of the crypto industry. Let’s check out our crypto news today:
The official Trump memecoin has generated significant revenue for cryptocurrency exchanges since its launch approximately six months ago. According to a Reuters report, the TRUMP token has generated approximately $172 million in trading fees across 10 centralized exchanges, including major platforms such as Binance, Coinbase, and OKX.
However, the token has a concentrated supply, with 80% of the funds still in the possession of the Trump family and partners. Still, exchanges fast-tracked the memecoin listing to satisfy robust user demand. The report notes that 45 crypto wallets earned approximately $1.2 billion from TRUMP and that 712,000 wallets had a total loss of more than $4.3 billion. This difference highlights the volatile nature of the token and the significant risk to retail investors.
Reuters noted the TRUMP memecoin was listed considerably faster than comparable memecoins such as Pepe, Bonk, and Dogwifhat. The ten exchanges took an average of 129 days to list those tokens, whereas the TRUMP coin was listed within about four days. Coinbase acted particularly swiftly, approving the token in just one day due to overwhelming market demand.
Coinbase’s Chief Legal Officer, Paul Grewal, stated the exchange viewed TRUMP as an "experimental" token and warned users of inherent risks like price swings. Nevertheless, Coinbase restricted access for New York residents following a January warning from the New York State Department of Financial Services. The regulator highlighted risks associated with memecoins, including consumer losses and market manipulation tactics.
Some exchange executives acknowledged that despite supply concentration risks, user trading volumes and demand outweighed previous concerns. For example, Bitget’s CEO, Gracy Chen, described the 80% supply lock-up as risky but said demand drove their listing decision.
Also Read: Will Bitcoin Hit $1 Million in the Next 10 Years?
Michael Saylor’s investment firm, Strategy, spent $472.5 million to add 4,225 Bitcoin to its holdings last week, bringing its total Bitcoin holdings to 601,550 BTC. The average acquisition price for this batch was approximately $111,827 per Bitcoin.
Bitcoin’s price climbed sharply from $108,000 on July 7 to surpass $118,000 by the weekend. Strategy's new buy coincided with this rally and marked its first disclosed Bitcoin purchase in July. Earlier in the month, the company had announced a $4.2 billion stock sale while reporting $14 billion in unrealized gains for the second quarter of 2025.
Strategy also revealed that senior vice president Wei-Ming Shao sold 62,500 shares of the company’s stock valued at around $25.7 million. Meanwhile, co-founder Michael Saylor continued to voice bullish sentiment on Bitcoin’s price, citing its superiority as an asset.
Grayscale, a prominent crypto-focused asset manager and ETF issuer, submitted a confidential registration to the U.S. Securities and Exchange Commission (SEC) for a potential initial public offering (IPO). This filing allows Grayscale to explore public market funding options, including stock and convertible note offerings.
The move follows a trend of crypto-native firms seeking public listings to access wider funding avenues. Grayscale’s confidential filing arrives over a month after Circle, the issuer of the USDC stablecoin, completed an IPO that valued the company at nearly $7 billion. Circle’s success may motivate other crypto companies to pursue similar public offerings in 2025.
A public listing would enable Grayscale to raise capital using similar strategies to those employed by Michael Saylor, as well as techniques used by GameStop to issue convertible notes. This filing reflects ongoing institutional interest in broadening cryptocurrency investments in mainstream financial markets.
Also Read: Best Crypto to Buy Now: Cryptocurrencies with High Returns
