News
16 May 2025, 18:33
Basel Medical Group Explores $1 Billion Bitcoin Treasury Amidst Shareholder Concerns and Market Volatility
The Basel Medical Group’s recent decision to invest $1 billion in Bitcoin for its corporate treasury has sent shockwaves through the market, reflecting both potential and risks in cryptocurrency adoption.
16 May 2025, 18:31
Basel Medical shares down 15% on $1B Bitcoin buying plans
Shares of Basel Medical Group are down around 15% after the healthcare company announced plans to buy $1 billion in Bitcoin for its corporate treasury. On May 16, Singapore-based Basel said it was “in advanced discussions with a consortium of institutional investors and high-net-worth individuals to acquire a US$1 billion BTC through an innovative share-swap arrangement. The company said the benefits of its planned purchase include creating “one of the strongest balance sheets among Asia-focused healthcare providers” and providing “unmatched financial flexibility for mergers and acquisitions.” It also said the Bitcoin ( BTC ) treasury would help Basel “[e]stablish “a diversified asset base to weather market volatility.” But the company’s shareholders weren’t sold. Basel’s stock, BMGL, has dropped around 15% on the announcement, according to data from Google Finance. Basel Medical’s shares are down 15% intraday on May 16. Source: Google Finance Related: Strive to become Bitcoin treasury company Fueling acquisitions In April, Basel announced that it had acquired a peer healthcare provider, Bethesda Medical, for an undisclosed sum. The deal marked “the beginning of Basel Medical Group’s expansion strategy in Singapore and the broader Southeast Asian healthcare market.” Basel’s management team expects that accumulating Bitcoin will aid in these plans. “Our expanded balance sheet will allow us to move quickly on strategic opportunities as we build a premier healthcare platform across high-growth Asian markets,” Darren Chhoa, Basel’s CEO, said in a statement. Bitcoin treasury metrics. Source: Bitcointreasuries.net Corporate Bitcoin treasuries This isn’t the first time a company’s shareholders have punished it for announcing plans to build a Bitcoin treasury. GameStop shed nearly $3 billion in market capitalization during a single trading day in March as investors questioned the videogame retailer’s plans to stockpile Bitcoin. “There are question marks with GameStop's model. If bitcoin is going to be the pivot, where does that leave everything else?” Bret Kenwell, US investment analyst at eToro, told Reuters in March. Corporate treasuries collectively hold roughly $80 billion worth of Bitcoin as of May 16, according to data from BitcoinTreasuries.NET. Bitcoin can “potentially be a valuable hedge against growing fiscal deficits, currency debasement, and geopolitical risks” for corporations, asset manager Fidelity Digital Assets said in a 2024 report. Magazine: Bitcoin’s $100K push wakes taxman, Vitalik visits real Moo Deng: Asia Express
16 May 2025, 18:30
Blockchain Group Stock Surges 554% After Embracing Bitcoin Treasury Strategy
The Blockchain Group stock jumped 554% within six months after adopting the Bitcoin strategy. ALTBG secured €22M funding in May 2025 to boost Bitcoin holdings and tech innovation. ALTBG’s treasury model delivered a 709.8% Bitcoin yield, surpassing Bitcoin’s own gains. The Blockchain Group (EPA: ALTBG) has emerged as a standout in European capital markets, registering a stock price increase of 554% over the past six months. Trading at €1.90 as of May 16, 2025, and recently reaching a 52-week high of €1.95, the company now holds a market capitalization of €179.3 million. The record surge is attributed mainly to the group’s recent shift toward a Bitcoin treasury strategy, making it Europe’s first Bitcoin Treasury Company. Source: Google Finance Strategic Shift: From Tech Holdings to Bitcoin Treasury Pioneer The company’s journey did not only focus on Bitcoin . Before late 2023, the company was mainly a tech-related holding, having experienced several ups and downs in its performance. In December 2023, a significant restructuring was set in motion by the board, shifting the company to focus on blockchain technologies, data analysis, and Bitcoi… The post Blockchain Group Stock Surges 554% After Embracing Bitcoin Treasury Strategy appeared first on Coin Edition .
16 May 2025, 18:18
The King of Pigs ($KOPS) is Eyeing A Massive ICO Launch—Don’t Miss The Boat To Become A Billionaire
The King of Pigs ($KOPS) project is about to make its debut through a major initial coin offering (ICO). In its early development stage, the $KOPS team has set a clear objective, to gather 10,000 dedicated community members, and currently, there are over 8K+ warriors in the troop. According to official communications, the community has already passed the 8,000 mark and continues to expand. In addition to the upcoming token sale , the team has introduced an open airdrop aimed at attracting early participants. This early phase strategy is made to reward quick adopters and solidify the project momentum as it enters a competitive memecoin market. As the $KOPS develops, the team is positioning the token to offer community governance and charitable contributions. Community Growth and Interactive Contests To strengthen community participation, the $KOPS team has launched a series of interactive contests and campaigns. As outlined in an official X post, the team is hosting an‘UGC CONTEST’ with 85,000,000 $KOPS prize pool. This contest is part of a broader strategy to gain organic reach while encouraging user-generated content. The anti-spam and bot policy of the project allows for authentic interaction. To get more details about the UGC contest, you need to become a part of the Telegram community , where you can get the topic. If you are a creative mind with a unique skill of storytelling, the one entry you make here could be your life-changing step. The contest would happen for 30 days. So, hurry up and make your entries there as per the instructions provided by the $KOPS development team . General Market Entry Strategy The memecoin market cap made a peak in December 2024, reaching over $127bn. Since then, it has experienced a fall. As per the data fetched from CoinMarketCap on May 14th, the memecoin market cap is at $74.56 billion. Despite this decline, the $KOPS development team sees opportunity. By focusing on structured features, community participation, and market relevance, they are targeting a resilient and expanding user base. With over 8,000 users already onboard and a 10,000-user high in sight, the community is on track for major growth. The $KOPS platform is built on the Binance Smart Chain, with the benefit of rapid transaction speed and zero trading commissions. Such technology foundations ensure easy interoperability and reflect the project's vision for the future. The Premium Update The KOPS team is entering the market with a bang, and it's time for you to grab the golden opportunity. The ICO event is going to happen, and it's time for investors and traders to keep their wallets funded. Launch details Date: May 17, 2025 Time: 12:00 PM UTC To know more about the Pigdom, follow on. Website | Twitter | Telegram | Community Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
16 May 2025, 18:13
WLFI Slams Senate’s USD1 Stablecoin Inquiry as Trump Links Spark National-Security Alarm
World Liberty Financial (WLFI), the issuer of the USD1 stablecoin, publicly rejected a Senate probe into its operations, dismissing the inquiry as politically motivated and lacking substance. The public response came shortly after Senator Richard Blumenthal (D-CT), ranking member of the Senate Permanent Subcommittee on Investigations (PSI), revealed that his office launched a preliminary inquiry into WLFI’s political connections and foreign investment sources on May 6. Senator Richard Blumenthal (D-CT) is "seeking answers" in a new inquiry over U.S. President Donald Trump's crypto ventures. #RichardBlumenthal #DonaldTrump https://t.co/x820khp6sY — Cryptonews.com (@cryptonews) May 7, 2025 The senator raised alarms over the stablecoin project’s governance, national security implications, and potential financial entanglements, particularly its ties to President Donald Trump. In a formal letter, Blumenthal requested extensive documentation from both WLFI and Fight Fight Fight LLC, the company behind the Official Trump meme coin (TRUMP). The letter alleges that these entities may have violated federal ethics laws by facilitating financial transactions involving foreign nationals facing prosecution or by creating potential conflicts of interest involving Trump. It further accuses WLFI and TRUMP of providing substantial financial benefits to Trump and his associates. Senators Elizabeth Warren and Jeff Merkley demand an urgent ethics probe into a Trump-linked stablecoin deal involving the UAE, Binance, and $2 billion in crypto. #Trump #USSenate https://t.co/mPfEED54EU — Cryptonews.com (@cryptonews) May 6, 2025 The probe follows a broader call from Senators Elizabeth Warren and Jeff Merkley, who earlier demanded an ethics investigation into what they termed a “staggering conflict of interest” involving WLFI, USD1, and a reported $2 billion foreign investment routed through Binance. Inside the USD1 Stablecoin: Claims of Transparency and Financial Inclusion Today, my attorneys responded to a letter addressed to me by Senator Richard Blumenthal. Our response is attached to this post. America — and the rest of the world — needs solutions like USD1. We will not be intimidated by politicians with an axe to grind: we’re too busy… pic.twitter.com/ItQ83ETZYf — Zach Witkoff (@ZachWitkoff) May 16, 2025 In a letter issued through the law firm BakerHostetler, WLFI rejected the allegations and reaffirmed its commitment to financial transparency and U.S.-based compliance. “World Liberty Financial is not operating in the shadows,” the attorneys wrote. “It is building a transparent, compliant financial system rooted in U.S. trust, law, and leadership, with values like accountability and dollar dominance guiding every step.” The firm emphasized that its flagship product, USD1, is a fully reserved, dollar-backed stablecoin collateralized by short-term U.S. Treasuries and cash equivalents. WLFI insists that its mission is to increase global demand for U.S. debt instruments and expand dollar access to underserved regions worldwide. “The company rejects the false choice between innovation and oversight,” the letter continued. “What it opposes is the misuse of regulatory authority and uncertainty to suppress lawful innovation. The future of finance must be shaped in Washington, D.C.—not in Beijing, Moscow, or behind the closed doors of legacy institutions resistant to evolving to serve the needs of customers around the world.” BakerHostetler’s attorneys concluded by framing WLFI as part of a broader movement to preserve American monetary leadership in the digital era. Blumenthal also sent a separate letter to Bill Zanker, CEO of Fight Fight Fight LLC, questioning the company’s conduct in launching the Trump meme coin and raising concerns about a “ Dinner with Trump” promotion . The senator speculated that a small group of insiders may have profited greatly from the project. As of now, Fight Fight Fight LLC has not responded publicly to the allegations. In response, WLFI’s attorneys categorically denied any affiliation with Fight Fight Fight LLC or Zanker. “The unfounded assertion of a non-existent relationship” was among the factual errors in Blumenthal’s letter, they stated. Political Crypto, Foreign Investors, and Regulatory Crossroads The WLFI probe indicates the growing tension between politics and digital assets as high-profile figures deepen their involvement in crypto. President Donald Trump himself has previously promoted digital asset initiatives, including the controversial $TRUMP meme coin, while simultaneously criticizing central bank digital currencies (CBDCs). Adding to the complexity, WLFI has received substantial backing from foreign investors. Chinese entrepreneur Justin Sun reportedly committed $30 million to the project and serves as an adviser to the firm. The firm is also linked to capital sources in Abu Dhabi. These connections have sparked concerns about potential foreign influence over a U.S.-based financial instrument. Earlier this month, House Democrats launched a parallel investigation into Trump’s deepening involvement in the crypto sector. In a letter dated May 14, Representatives Gerald Connolly, Joseph Morelle, and Jamie Raskin called on Treasury Secretary Scott Bessent to release all suspicious activity reports (SARs) filed since 2023 concerning Trump-connected entities , including WLFI and the Official Trump token. Democratic lawmakers have launched a new probe into former President Donald Trump’s growing involvement in the crypto industry. #Crypto #Regulation https://t.co/Wli5QqlNdu — Cryptonews.com (@cryptonews) May 15, 2025 In response to the growing concerns, Senate Democrats introduced the Modern Emoluments and Malfeasance Enforcement (MEME) Act on May 6. House Democrats, led by @RepLiccardo , are introducing the MEME Act to bar U.S. officials and their families from launching or endorsing Meme Coins after Trump’s involvement with $TRUMP raised ethical concerns. #USCryptoRegulations #MemeCoins https://t.co/qSnhElbaQj — Cryptonews.com (@cryptonews) February 27, 2025 Proposed by Senator Chris Murphy, the bill seeks to prevent federal officials, including the president, vice president, members of Congress, and their families, from creating, promoting, or financially benefiting from digital asset projects, including cryptocurrencies, securities, and tokenized commodities. The post WLFI Slams Senate’s USD1 Stablecoin Inquiry as Trump Links Spark National-Security Alarm appeared first on Cryptonews .
16 May 2025, 18:07
Investigation into President Milei Deepens Amid LIBRA Scandal, Raising Concerns Over Alleged Money Laundering Activities
Argentina’s financial landscape is in turmoil as investigations into President Javier Milei’s alleged involvement in the LIBRA scandal magnify, raising crucial questions about the integrity of leadership. Judge María Servini’s
