As of Feb. 7, the White House had not issued any statement suggesting that Donald Trump would nominate a CFTC commissioner to replace Rostin Behnam.

Ex-CFTC chair leaves without replacement pick from Trump

Norwegian crypto brokerage K33 plans to join the growing number of public 
companies buying up Bitcoin after raising 60 million Swedish krona ($6.2 
million) to buy and hold the cryptocurrency.
K33 said on May 28 that it secured financing through convertible loans and a 
new issue of shares and warrants, which &#8220;will be used in full to acquire 
Bitcoin in order to establish the Bitcoin Treasury Strategy.&#8221;
Warrants are zero-interest securities that investors can later convert into 
equity at the same price. K33 could purchase up to 57 Bitcoin (BTC) at BTC&#8217;s 
current price of just over $108,000.
_Source:__K33_
K33 CEO Bull Jenssen posted to X on May 28 that he thinks Bitcoin will be the 
&#8220;best-performing asset in the coming decade,&#8221; and his company will &#8220;accumulate 
as many as possible while unlocking powerful operational synergies with our 
brokerage operation.&#8221;
&#8220;Why wait for the government to build a Bitcoin reserve when you can build you 
own? Initial financing is secured and we are ready to accelerate from here!&#8221; 
he added in another post.
The convertible loans total 45 million Swedish krona ($4.6 million), are 
interest-free and mature on June 30, 2028. The remaining 15 million Swedish 
krona ($1.5 million) will come through a new share issuance and warrants, 
according to K33.
If investors convert their warrants before March 2026, they are entitled to 
additional free warrants at the same conversion rate. If fully exercised, K33 
could raise up to 75 million Swedish krona ($7.7 million) for its Bitcoin buy.
## Bitcoin treasury part of expansion plans
In K33&#8217;s interim report for the first quarter, released May 28, Jenssen said 
K33 is working with other Bitcoin treasury companies in the Nordics and hopes 
to use its treasury as a foundation to offer new services, such as BTC-backed 
lending.
&#8220;For K33, Bitcoin is not only a high-conviction asset &#8212; it&#8217;s also a strategic 
enabler. With a sizable BTC reserve, we will be able to strengthen our 
financial position while unlocking new revenue streams, product capabilities, 
and partnerships,&#8221; he said.
_**Related:**__**Strategy bags 4,020 Bitcoin as price briefly breaks $110K**_
K33&#8217;s share price traded flat with the news of its Bitcoin treasury pivot and 
closed May 28 trading down 1.96%, according to Google Finance.
_K33 &#8216;s stock price wasn&#8217;t affected by the announcement of the firm&#8217;s Bitcoin 
strategy. Source: __Google Finance_
Some companies have seen their stock prices gain after announcing a Bitcoin 
buying plan.
Video game retailer GameStop shares jumped nearly 12% on March 26 after the 
company announced plans to purchase Bitcoin. However, it dropped 11% on May 11 
after GameStop made its first purchase of 4,710 Bitcoin.
Meanwhile, when Paris-based crypto company Blockchain Group started buying 
Bitcoin on Nov. 5, its stock spiked 225% to 0.48 euros ($0.52).
_**Magazine:**__**Rise of MicroStrategy clones, Asia dominates crypto 
adoption: Asia Express 2024 review**_

European crypto firm K33 raises $6.2M for Bitcoin buys

Despite a significant announcement from energy firm VivoPower, XRP is trading 
at $2.29, down 1.1% in the past 24 hours and over 4% for the week. The token 
is displaying signs of consolidation and is has ranged between $2.24 and…

XRP trades flat despite VivoPower announcing $121M raise to back XRP-focused treasury

Former Commodity Futures Trading Commission Chair Rostin Behnam has said the 
crypto market will remain unregulated unless the agency he led is given 
greater authority.
In a May 28 Bloomberg TV interview, Behnam sided with the crypto industry on 
its long-standing argument that cryptocurrencies are commodities.
&#8220;If you look at existing law, the few largest tokens are commodities, which 
means the SEC does not have jurisdiction over those tokens, which include 
Bitcoin and Ether,&#8221; he said.
He added that the Securities and Exchange Commission currently cannot properly 
regulate crypto because its law doesn&#8217;t allow it to regulate commodities, and 
the CFTC cannot regulate because it is a derivatives regulator.
Without new authority for the CFTC to regulate &#8220;cash markets in digital 
assets, non-securities,&#8221; this will remain an unregulated space, he claimed.
_Rostin Behnam on Bloomberg TV. Source: Bloomberg_
Behnam comments amid increasing scrutiny of the Trump family&#8217;s crypto 
ventures, which include the crypto platform World Liberty Financial, memecoins 
and a stablecoin.
On May 28, American political strategist and political commentator Sanders 
Townsend said Donald Trump is boosting his family&#8217;s investments in 
cryptocurrency and &#8220;is using the presidency to do it.&#8221;
The administration&#8217;s involvement in the regulatory process and legislative 
effort is &#8220;raising red flags&#8221; among some members of Congress, and there are 
&#8220;well-baked rules&#8221; for any elected or appointed government official that need 
to be complied with, he said.
&gt; &#8220;Ultimately, until we do something, the [crypto] market will remain 
&gt; unregulated. Customers, investors, retail and institutional, will be more 
&gt; vulnerable to harm, fraud, manipulation and conflicts of interest, until the 
&gt; market is regulated.&#8221;
## Regulation critical to financial markets, says Behnam
Behnam also weighed in on Vice President JD Vance&#8217;s speech at the Bitcoin 2025 
conference, backing up the need for crypto regulations.
_**Related:**__**Trump &#8216;s use of presidential seal at memecoin event raises 
legal questions**_
Vance said in a speech at the event that &#8220;we reject regulators&#8221; and that 
crypto &#8220;has a champion&#8221; in the White House.
&#8220;Regulators are extremely important,&#8221; Behnam said. &#8220;They&#8217;re the reason 
American markets are the most desired in the world.&#8221;
&#8220;Consumer protections and enforcement of the law are extremely critical to the 
health of our financial markets,&#8221; he added.
_**Magazine:**__**Bitcoin bears eye $69K, CZ denies WLF &#8216;fixer&#8217; rumors: 
Hodler&#8217;s Digest**_

Crypto vulnerable if CFTC not given authority, says ex-chair Behnam

Recently, Bitcoin (BTC) achieved a new all-time high (ATH) of $111,980 on 
Binance crypto exchange, surpassing its previous ATH of $108,786 recorded in 
January 2025. However, this rally is missing a crucial element that has 
historically fuelled sustained bull markets &#8211; retail investor participation. 
Bitcoin Rally Low On Retail Interest According to a recent CryptoQuant 
Quicktake post by contributor burakkesmeci, retail activity during the current 
BTC rally is notably subdued. This is unusual, as fresh ATHs typically draw 
significant attention from smaller investors. Related Reading: Bitcoin Near 
ATH, But Long-Term Holders Aren’t Selling – More Upside Ahead? The analyst 
shared the following chart highlighting this trend. It shows that BTC transfer 
volume in the $0 to $10,000 range &#8211; a proxy for retail demand &#8211; has only seen 
a slight uptick, even as prices surge. While Bitcoin’s price has been climbing 
steadily (white line), the 30-day percentage change in retail demand (green 
line) has remained largely flat. This indicates that the current momentum is 
likely driven by institutional investors, with retail participants yet to join 
in meaningfully. Recent developments support this view. For instance, 
institutional heavyweight Strategy continues to increase its BTC holdings, now 
closing in on the 600,000 BTC mark. Historical patterns &#8211; particularly from 
the 2020–2021 bull run &#8211; suggest that while institutional accumulation often 
kicks off a rally, retail investors are typically the fuel that propels it to 
sustained highs. Without significant retail volume, the current rally may lose 
steam. Concluding, the CryptoQuant analyst stated that for BTC to continue its 
price expansion, a clear uptick in retail participation is necessary. They 
added: We&#8217;re seeing early signs of movement, but it&#8217;s not yet a breakout. If 
retail volume kicks in over the next few weeks, new ATHs may just be the 
beginning. Predicting BTC’s Next Move Recent flows from crypto exchanges show 
that BTC reserves are dwindling at a fast pace. For instance, US-based 
exchange Coinbase recently saw a new outflow of 7,883 BTC, raising 
speculations of institutions loading up on the apex digital asset before its 
next leg up. Related Reading: Bitcoin Shows Elevated Unrealized Profits 
Without Signs Of Panic Selling – New ATH Soon? Similarly, technicals point 
toward BTC hitting another ATH soon. The top cryptocurrency by market cap 
recently broke out of a double bottom pattern on the hourly chart, fuelling 
hopes of a surge toward the $112,000 mark. Meanwhile, whale behavior has been 
mixed. While short-term whales have taken profits, long-term holders remain 
steadfast, showing minimal signs of selling. That said, BTC’s medium-term 
outlook remains overwhelmingly positive, with some researchers predicting a 
$200,000 price target by the end of 2025. At press time, BTC trades at 
$108,802, down 0.6% in the past 24 hours. Featured image from Unsplash, charts 
from CryptoQuant and TradingView.com

Bitcoin Surges With Low Retail Interest – Is A Second Wave Coming?

XRP price started a fresh decline below the $2.320 zone. The price is now 
correcting losses and might aim for a move above the $2.350 resistance. XRP 
price started a fresh decline below the $2.300 zone. The price is now trading 
below $2.320 and the 100-hourly Simple Moving Average. There was a break above 
a connecting bearish trend line with resistance at $2.2920 on the hourly chart 
of the XRP/USD pair (data source from Kraken). The pair might start another 
decline if it fails to clear the $2.3250 level. XRP Price Faces Resistance XRP 
price found support at $2.220 and recently started a recovery wave, unlike 
Bitcoin and Ethereum. There was a move above the $2.2650 and $2.280 resistance 
levels, There was a move above the 50% Fib retracement level of the downward 
wave from the $2.3540 swing high to the $2.2279 low. Besides, there was a 
break above a connecting bearish trend line with resistance at $2.2920 on the 
hourly chart of the XRP/USD pair. However, the bears were active near the 
$2.30 level. The price is now trading below $2.320 and the 100-hourly Simple 
Moving Average. On the upside, the price might face resistance near the 
$2.3250 level. It is near the 76.4% Fib retracement level of the downward wave 
from the $2.3540 swing high to the $2.2279 low. The first major resistance is 
near the $2.3350 level. The next resistance is $2.350. A clear move above the 
$2.350 resistance might send the price toward the $2.40 resistance. Any more 
gains might send the price toward the $2.420 resistance or even $2.450 in the 
near term. The next major hurdle for the bulls might be $2.50. Another Drop? 
If XRP fails to clear the $2.320 resistance zone, it could start another 
decline. Initial support on the downside is near the $2.280 level. The next 
major support is near the $2.260 level. If there is a downside break and a 
close below the $2.260 level, the price might continue to decline toward the 
$2.2320 support. The next major support sits near the $2.20 zone. Technical 
Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the 
bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is 
now above the 50 level. Major Support Levels – $2.280 and $2.260. Major 
Resistance Levels – $2.320 and $2.340.