Tether-Backed Twenty One Capital Buys $458.7M in Bitcoin, Now Third-Largest Public Bitcoin Holder

Trump Denies Truth Social Meme Coin Plans Amid Confusion Over Expanding Crypto Ventures

Truth Social, the social media platform of Trump Media & Technology Group, denied rumors that it plans to launch a meme coin, following online speculation sparked by crypto influencer Ran Neuner. Donald Trump Jr. stated there is “no truth whatsoever” to the claims.

However, past statements from Trump Media suggest some interest in crypto. A recent shareholder letter mentioned exploring a “utility token” for use within the Truth+ video streaming platform and a digital wallet integration for subscriptions and other services.

Despite denials, the Trump family has ties to various crypto products, including meme coins and NFTs. Prices of the $TRUMP and $MELANIA tokens fell sharply after the Truth Social coin rumors were debunked. The family’s crypto involvement is drawing increased scrutiny, especially after Trump offered top $TRUMP token holders access to a private May 22 dinner—an offer that watchdog groups have labeled corrupt and exploitative.

PumpSwap’s New Revenue-Sharing Plan Rewards Token Creators Amid Backlash Over Rug Pull Incentives

PumpSwap, the DEX linked to Solana’s memecoin platform Pump.Fun, introduced a program that shares 50% of its trading revenue with token creators. This equates to a 0.05% payout in SOL per trade for eligible creators. With $11.2 billion in trading volume in April 2025, this could mean $5.6 million distributed.

PumpSwap’s fee structure now totals 0.3% per swap, with 0.2% going to liquidity providers, 0.05% to protocol revenue, and 0.05% to creators. The initiative has sparked criticism on X (formerly Twitter), where users argue it incentivizes irresponsible dev behavior like rug pulls, while discouraging community-led project revivals.

GD Culture Group to Buy Bitcoin and Trump Memecoin in $300M Treasury Shift Despite Nasdaq Compliance Issues

Nasdaq-listed GD Culture Group has signed a stock purchase agreement with a British Virgin Islands-based investor to sell up to $300 million in shares as part of a new crypto treasury strategy. The Nevada-based digital human and e-commerce company plans to use a significant portion of the funds to acquire and hold Bitcoin and the Official Trump ($TRUMP) memecoin, though it didn’t disclose specific allocation amounts.

CEO Xiaojian Wang said the strategy is aimed at enhancing the company’s balance sheet and aligns with industry trends and its expertise in digital technology and livestreaming commerce. The move follows broader momentum in corporate crypto adoption, fueled in part by Donald Trump’s pro-crypto stance and recent initiatives promoting national Bitcoin reserves.

Despite this strategic pivot, GD Culture is facing financial challenges. It reported a $14.1 million net loss in 2024 and received a Nasdaq non-compliance notice for falling below the $2.5 million stockholders’ equity threshold. The company has 45 days to present a plan to regain compliance.

Tether-Backed Twenty One Capital Buys $458.7M in Bitcoin, Becomes Third-Largest Public BTC Holder

Twenty One Capital, a new bitcoin investment firm backed by Tether, Cantor Fitzgerald, and SoftBank, has made its first major move by acquiring 4,812 BTC worth $458.7 million. The purchase, disclosed in a securities filing, was part of a PIPE deal involving convertible notes and was initially facilitated through a Tether-controlled wallet. Formed via a SPAC merger with Cantor Equity Partners, the company launched with $3.6 billion in bitcoin on its balance sheet, ranking it as the third-largest BTC holder among public companies. Led by Strike founder Jack Mallers, the firm is majority-owned by Tether and Bitfinex, with SoftBank holding a minority stake.

Resources:

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