Saylor&#8217;s aggressive Bitcoin acquisition strategy may heighten financial risk and legal scrutiny, impacting investor confidence and market dynamics. The post Michael Saylor&#8217;s Strategy acquires 7,390 Bitcoin for $765 million amid new investor lawsuit appeared first on Crypto Briefing.

Michael Saylor’s Strategy acquires 7,390 Bitcoin for $765 million amid new investor lawsuit

Integrating securities and digital assets under one regulatory framework could 
enhance market efficiency and foster innovation in financial services.
The post SEC&#8217;s Atkins wants to let firms custody, trade Bitcoin and securities 
under one roof appeared first on Crypto Briefing.

SEC’s Atkins wants to let firms custody, trade Bitcoin and securities under one roof

Strategy is facing a purported class action lawsuit accusing it of misleading 
investors on the risks and profitability of its aggressive bitcoin strategy 
during a critical growth phase. Class Action Lawsuit Alleges Strategy Misled 
Investors on Saylor’s Bitcoin Push Software intelligence firm Microstrategy 
(Nasdaq: MSTR), which recently rebranded as Strategy, revealed on May 16 that 
[…]

Strategy Hit With Class Action Over Bitcoin—Saylor Named in Lawsuit

Kazakhstan, the Maldives and Pakistan have recently outlined ambitions to 
position themselves as crypto hubs and build out their digital economies.
Historically, these countries haven&#8217;t been top of mind for global crypto firms 
&#8212; though Kazakhstan did have a brief moment in the spotlight as a go-to 
destination for Bitcoin (BTC) miners after China&#8217;s mining ban.
Meanwhile, established financial centers are now in a race to become the 
world&#8217;s leading crypto hub by finding the right balance of regulation, talent, 
capital and infrastructure.
Here&#8217;s how five of them are backing their crypto dreams.
## Singapore is the crypto hub with parental guidance
Singapore has long stood out as a financial hub, bolstered by its AAA credit 
rating, low corporate tax rates and pro-business regulations. With the 
emergence of digital assets, the Lion City is among the front-runners in the 
crypto hub race.
Singapore was among the early movers in crypto regulation. Its Payment 
Services Act (PSA) of 2019 &#8212; enacted in 2020 &#8212; was one of Asia&#8217;s first 
comprehensive legal frameworks that covered crypto activities.
The PSA uses the term &#8220;digital payment token&#8221; (DPT) to define digital 
representation of value that can be transferred, stored or traded 
electronically &#8212; like crypto.
At the time of writing, there are 33 DPT service providers licensed by the 
Monetary Authority of Singapore (MAS), the city-state&#8217;s central bank. Casper 
Johansen, co-founder of Singapore- and Hong Kong-based Spartan Group, said 
license approvals have moved at a measured pace, giving faster-moving hubs 
like Dubai room to catch up.
&#8220;Singapore is more of an institutional financial hub than a retail financial 
hub,&#8221; Johansen said, alluding to the city-state&#8217;s limitations on crypto 
marketing to retail investors.
_Singapore &#8216;s retail crypto promotion ban includes social media influencer 
marketing and third-party websites. Source: __Monetary Authority of Singapore_
&#8220;The ban on marketing to retail has not affected Singapore&#8217;s position as a 
global crypto hub. Crypto firms set up in Singapore for the low and 
transparent taxes, strong regulatory framework and rule of law, world-class 
professional services, ease of living and global connectivity,&#8221; Johansen 
added.
But cracks have emerged recently, particularly around immigration and hiring 
policy. In late 2024, concerns flared when the CEO of blockchain analytics 
firm Nansen, Alex Svanevik, shared that he was denied permanent residency. The 
government has ramped up efforts to prioritize local hiring amid growing 
political sensitivity over foreign labor.
_Nansen CEO &#8216;s permanent residency rejection highlighted Singapore&#8217;s tight 
visa and immigration environment. Source: __Alex Svanevik_ 
## UAE rolls out the welcome mat for crypto hub status
Unlike other crypto hub contenders, Dubai has a dedicated digital asset 
regulator, the Virtual Assets Regulatory Authority (VARA).
Its wide-ranging licensing regime provides clear guidelines &#8212; even for NFT 
platforms &#8212; which major economies like the European Union have yet to 
address. The EU&#8217;s Markets in Crypto-Assets (MiCA) framework currently excludes 
NFTs.
VARA&#8217;s clarity is appealing to companies frustrated by regulatory uncertainty 
elsewhere. Binance, a borderless exchange with no official head office, has 
had to rethink that model under global regulatory pressure &#8212; and the 
exchange&#8217;s ties to the UAE have been growing.
Richard Teng, former CEO of free zone Abu Dhabi Global Market, took over as 
the CEO of Binance after Zhao, and has recently hinted that UAE is a strong 
candidate for the exchange&#8217;s headquarters, though a decision hasn&#8217;t been made 
yet.
_Binance &#8216;s first institutional investment is a $2-billion bet from Abu Dhabi- 
based MGX. Source: __Binance_
The UAE also provides its own incentives, such as no personal income tax and 
free zones like the Dubai Multi Commodities Centre (DMCC) and Dubai 
International Financial Centre (DIFC) offer 0% corporate tax advantages and 
100% foreign ownership.
_**Related:**__**The lessons learned at Operation Chokepoint 2.0 Congressional 
hearings**_
Crypto firms have reported easier access to banking services in Dubai, which 
is an improvement over the challenges companies say they&#8217;ve faced in the US 
under &#8220;Operation Chokepoint 2.0.&#8221;
## Hong Kong makes crypto hub push with retail access and staking ETFs
Hong Kong has long acted as a financial gateway to mainland China, where 
crypto activities like mining and trading remain banned.
Previously, the city had a voluntary licensing regime, when only OSL and 
HashKey were licensed to serve institutions and professional investors. In 
Hong Kong, professional investors are legally defined as those with portfolios 
worth at least 8 million Hong Kong dollars (about $1 million).
It was later updated to the mandatory regime, launched in 2023, which opened 
the doors to retail.
The shift to mandatory licensing marked a turning point. OSL and HashKey 
became the first exchanges authorized to serve retail investors, while firms 
like Bybit and OKX withdrew their applications and exited the market. As of 
now, 10 platforms are licensed, while 15 have either withdrawn or been 
rejected.
_Eight applicants in Hong Kong still wait the SFC &#8216;s decision. Source: 
__Securities and Futures Commission_
Hong Kong has made further strides with the listing of Bitcoin and Ether (ETH) 
ETFs, and recently approved staking within Ether ETFs, which is not yet 
permitted in the US. It has also introduced stablecoin sandboxes under the 
supervision of the Hong Kong Monetary Authority to trial approved digital 
assets in a controlled environment.
&#8220;Sandboxes are an experiment, so too are staking ETFs,&#8221; said Kelvin Koh, a 
Spartan Group co-founder. &#8220;The key point is that these experiments are 
happening in Hong Kong.&#8221;
Hong Kong recently released its ASPIRe roadmap in February 2025, which aims to 
foster blockchain innovation and fill regulatory gaps to set the city up as a 
global crypto hub.
_Hong Kong &#8216;s five-pillar strategy to become a crypto hub. Source: 
__Securities and Futures Commission_
## Trump 2.0 dreams of crypto hub
US crypto firms were stuck in regulatory gridlock under the Securities and 
Exchange Commission formerly led by Gary Gensler, whose aggressive &#8220;regulation 
by enforcement&#8221; strategy triggered years-long legal battles.
That changed with the inauguration of President Donald Trump, who has embraced 
a crypto-friendly stance. The SEC has since dropped multiple high-profile 
cases and investigations, including those against Coinbase, Uniswap and 
Consensys, signaling a shifting regulatory climate that is prepared to welcome 
back crypto to US soil.
_President Trump declares the US the future capital of AI and crypto. 
Source:__The White House_
Binance.US resumed US dollar services in February after 18 months of 
restriction that followed enforcement action from the Commodity Futures 
Trading Commission, a $2.7-billion settlement and a four-month prison sentence 
for ex-Binance CEO Changpeng Zhao.
_**Related:**__**8 major crypto firms announce US expansion this year**_
Rival exchange OKX reentered the US market in April 2025 after a $500-million 
settlement with the Department of Justice. Also in April, Nexo announced &#8212; 
during an event with Trump&#8217;s son in attendance &#8212; that it rekindled its 
American dream after scrapping it in 2022.
Traditional finance is warming up, with institutional investments flooding 
into Bitcoin and Ether spot ETFs, provided by some of the world&#8217;s largest 
asset managers, including the $11.5-trillion giant BlackRock.
The financial love affair goes both ways as crypto firms are also increasingly 
open to integrating into the existing US infrastructure.
Galaxy Digital listed on Nasdaq on May 16, Circle is considering another IPO 
attempt, and Hong Kong&#8217;s blockchain unicorn Animoca Brands is now eyeing a New 
York listing, citing Trump&#8217;s stance on crypto.
_NYC Mayor Eric Adams opens Wall Street to crypto. Source: Yedda 
Araujo/Cointelegraph_
The world&#8217;s largest financial center, New York City, is making its own move. 
Mayor Eric Adams said on May 12 that the Big Apple is &#8220;open for business&#8221; with 
crypto companies.
## UK&#8217;s crypto hub push goes quiet, but London&#8217;s still calling
In 2023, then-Prime Minister Rishi Sunak launched a bold vision to make the UK 
a global crypto hub, pushing for stablecoins to be recognized as regulated 
payment instruments and outlining a broader framework to integrate crypto into 
the country&#8217;s financial system.
That momentum translated into real movement: In April 2025, the UK Treasury 
released near-final legislation aimed at bringing crypto assets &#8212; like 
trading platforms, stablecoins and staking services &#8212; within the country&#8217;s 
regulatory perimeter.
The Financial Conduct Authority (FCA) is now consulting on how to regulate 
intermediaries, lending and other core parts of the ecosystem, signaling 
continued regulatory development.
But while the machinery of regulation keeps turning, the political will has 
cooled. As Arvin Abraham, partner at law firm Goodwin&#8217;s private equity group, 
told Cointelegraph, crypto was once central to Sunak&#8217;s competitiveness agenda, 
but under the current Labour government, that focus has faded.
The new Financial Services Growth and Competitiveness Strategy, spearheaded by 
Chancellor Rachel Reeves, highlights fintech as a priority without a focus 
solely on crypto.
&#8220;The UK does not feel like it&#8217;s prioritizing it as much as it was a few years 
ago,&#8221; Abraham said.
_In January, Andreessen Horowitz announced the closure of its UK office to 
move back to the US. Source:__Anthony Albanese_
Abraham added the UK remains &#8220;one of the best places to set up a new startup,&#8221; 
especially for early-stage capital raising.
He points to generous tax incentives for angel investors and the unique 
convergence of finance and startups in London, calling it &#8220;probably one of the 
best cities in the world for fintech-type businesses.&#8221;
In that sense, even without headline-grabbing crypto policy, the UK&#8217;s 
structural appeal still draws Web3 firms &#8212; just now with a quieter backdrop.
_**Magazine:**__**South Africa &#8216;s digital-nomad crypto hub: Cape Town, Crypto 
City Guide**_

Who’s got the charm, cash and code to be a crypto hub?

After weeks of consistent buying pressure and bullish sentiment, Chainlink 
(LINK) is now facing a critical moment. The price failed to reclaim the $18 
resistance level and has since dropped more than 16%, showing signs of 
weakening momentum. This recent rejection has sparked concerns among investors 
and traders, as downside risk intensifies in the short term. Related Reading: 
Cardano Whale Activity Spikes – 80 Million ADA Added In 48 Hours Top crypto 
analyst Ali Martinez shared a technical analysis pointing to a potential 
retracement toward lower demand levels. According to Martinez, the recent 
failure to break above key resistance may trigger further selling pressure, 
especially if broader market conditions remain uncertain. He suggests that 
LINK appears to be losing its bullish structure and could be preparing to 
revisit lower support levels before any meaningful rebound. Chainlink’s 
current position highlights a shift in sentiment, as bulls struggle to hold 
key zones. While the broader market remains relatively stable, LINK&#8217;s 
inability to maintain higher levels could signal an early sign of deeper 
correction if volume and momentum do not pick up. With volatility returning to 
the altcoin space, the coming days will be decisive for Chainlink. Holding 
above interim supports will be key if bulls want to regain control and avoid 
further losses. Chainlink Struggles As Momentum Fades: Downside Risks Grow 
Chainlink (LINK) is showing signs of exhaustion after weeks of upward 
movement, now trading under mounting pressure as the market grapples with 
renewed volatility and global financial uncertainty. Bulls remain active, 
defending key demand zones and continuing to call for a breakout, but fading 
momentum and growing fear are starting to weigh on sentiment. The failure to 
breach the $18 resistance level marked a turning point. Since then, Chainlink 
has slipped over 16%, losing critical support zones and entering a vulnerable 
technical position. According to Martinez, this rejection could be the start 
of a deeper correction. Martinez’s analysis suggests that LINK is now poised 
to revisit the $10 level — a psychological and structural support that aligns 
with historical price behavior. The next few trading sessions will be crucial. 
If bulls can’t reclaim higher levels or at least stabilize price action above 
$14, the selling pressure could accelerate. Adding to the uncertainty is a 
broader lack of clarity in global markets, with investors closely watching 
central banks, inflation data, and geopolitical developments for guidance. 
While some traders are still positioning for a bounce, the current structure 
points to caution. Chainlink’s performance in the coming days could either 
confirm a local top or offer a high-risk, high-reward entry point if support 
holds and momentum returns. Either way, the $10–$12 range may soon be tested, 
and how LINK responds there will define its next major trend. Related Reading: 
XRP Flashes Bullish Signal – Technical Indicator Hints At Imminent Rebound 
LINK Faces Pullback As Buy Pressure Weakens Chainlink (LINK) is under pressure 
after failing to hold above the $17.50–$18 resistance zone. The daily chart 
shows a sharp rejection near the 200-day SMA (currently at $17.79), followed 
by a 16% drop that pushed LINK below the 200-day EMA ($16). This move confirms 
a breakdown of bullish momentum and highlights growing downside risk as 
traders reassess short-term expectations. Volume has picked up during the 
recent pullback, suggesting active profit-taking or renewed selling interest. 
The current support zone lies around $14.80–$15.00, a region previously tested 
in late April and early May. If bulls fail to hold this level, the next major 
support rests closer to $13.20, potentially opening the door for a deeper 
correction toward the $10 mark—an area cited by analyst Ali Martinez. Related 
Reading: Ethereum Faces Resistance Against Bitcoin – ETH/BTC Bullish Structure 
In Question To regain momentum, LINK must first reclaim the $16 zone and flip 
the 200 EMA back into support. A daily close above both the 200 EMA and SMA 
would shift sentiment and restore the bullish structure. Until then, traders 
should watch for continuation signals or further weakness, especially if 
broader market volatility persists. LINK is in a make-or-break phase, with the 
next few days likely to set the tone for its short-term trajectory. Featured 
image from Dall-E, chart from TradingView

Chainlink Struggles At Key Resistance Level – $10 Support Back In Focus

_**Opinion by: Darius Moukhtarzadeh, Research Strategist at 21Shares**_
A new wave of crypto fundraising is emerging, changing how Web3 projects 
launch and who can invest at an early stage: Community Sales. At first glance, 
community sales may seem reminiscent of the ICO (Initial Coin Offering) era 
from 2016-2017\. Yet, they represent a significant evolution that better 
aligns with crypto&#8217;s core values of democratization, transparency, and 
inclusivity.
Projects should include community sales as a core element of their fundraising 
strategy, besides raising from angel investors and VCs. Professional investors 
should embrace community sales as they highly increase the chances of 
sustainable success of Web3 projects.
## The ICO era
The original ICO boom promised broad retail participation and democratized 
investment opportunities previously reserved for well-connected insiders. The 
lack of clear regulatory frameworks led to widespread fraud, rug pulls, and 
market manipulation. This chaotic environment, rampant exploitation, and 
regulatory uncertainty eventually forced projects to abandon ICOs, shifting 
instead to private rounds accessible to well-connected angel investors and 
venture capitalists.
## Private funding problems
While private funding initially brought much-needed stability and credibility, 
it also introduced new problems. Over the past two years, many tokens have 
launched at excessively high FDVs (Fully Diluted Valuation) with a low 
circulating token supply. These tokens entered exchanges with the majority of 
supply locked and sky-high valuation, which did not meet the demand. Retail 
investors, attracted by initial hype, often became collateral damage. The 
result? Devalued tokens and damaged trust. Most of these tokens will most 
likely never recover. This market dynamic discouraged investments in new 
projects and undermined community-building efforts, weakening the overall 
sustainability of Web3 projects.
## Airdrops as an unsustainable alternative
Airdrops appeared as another alternative, designed to distribute tokens widely 
and spark interest in the community for a project. Airdrops frequently fail to 
produce meaningful, sustainable engagement. Instead, they often became targets 
for Sybil attackers employing multiple accounts to maximize token gains or 
airdrop mercenaries hopping from one project to the next, quickly dumping 
tokens, depressing prices and undermining project credibility. Without genuine 
financial commitment and interest in the project beyond the airdrop, 
recipients had little incentive to hold tokens or participate actively in the 
community.
## Community sales as the new cool kid on the block(chain)
Community sales represent a practical, strategic alternative to private 
funding and token airdrops, offering a structured way to engage retail 
investors meaningfully and transparently. Modern community sales on platforms 
like Legion and Echo feature robust regulatory frameworks, with thorough KYC 
and AML processes ensuring regulatory compliance and security. These inclusive 
fundraising opportunities require participants to make real capital 
commitments, even if modest, cultivating genuine stakeholder interest and 
reducing short-term speculation.
_**Recent:**__**Blockchain needs efficient use cases for AI agents: X Spaces 
recap with VCs**_
One of the most significant advantages of community sales is their ability to 
democratize access. Investors gain entry under equitable terms, similar or 
sometimes superior to those previously reserved for venture capitalists. With 
minimum investments often as low as $100, community sales encourage broad 
participation, helping to build a genuinely decentralized and committed 
investor base. Investors who financially commit are far more likely to become 
long-term holders and active community members.
## Win-win for projects, other investors, and the community
For Web3 projects, community sales offer profound benefits beyond immediate 
capital raising. Early community involvement leads to a more distributed 
investor base, reducing concentration risk and diverse future users. Projects 
with broadly distributed tokens consistently exhibit more stable prices, 
higher community activity, and healthier onchain engagement.
Community sales significantly enhance a project&#8217;s market reputation. Embracing 
transparent, inclusive fundraising sends a clear signal to the market and 
prospective users &#8212; the project prioritizes collaboration and community 
involvement over the extraction of value. This transparency builds grassroots 
evangelism, drives organic growth, and creates a loyal community base 
committed to the project&#8217;s ongoing success. Professional investors should 
embrace community sales and actively encourage their portfolio companies to 
allocate to the community.
The broader crypto market benefits substantially from a shift toward community 
sales. Projects that raise funds transparently and inclusively from their 
communities tend to attract more stable, supportive investor bases. This 
stability positively affects token markets, reducing volatility, restoring 
investor confidence, and accelerating broader adoption and integration of 
blockchain technologies into everyday financial services and applications.
Community sales represent far more than a revival of ICOs. They mark a mature 
approach, combining early crypto ideals with today&#8217;s regulatory clarity and 
technological possibilities.
Projects committed to community sales position themselves for initial 
fundraising success, enduring market resilience, and community loyalty. The 
crypto ecosystem, founded on principles of decentralization and inclusivity, 
should embrace this model to fulfill its potential. Founders should, where 
possible, include the community when raising capital, as in the end, everyone 
wins: WAGMI.
_The views and opinions expressed in this article are solely my own and do not 
reflect the views of my employer, 21Shares, or any affiliated organizations._
_**Opinion by: Darius Moukhtarzadeh, Research Strategist at 21Shares.**_
This article is for general information purposes and is not intended to be and 
should not be taken as legal or investment advice. The views, thoughts, and 
opinions expressed here are the author&#8217;s alone and do not necessarily reflect 
or represent the views and opinions of Cointelegraph.