Monday, May 26, 2025 – Even as Memorial Day and the UK bank holiday slow traditional markets, the crypto world is buzzing with major developments from top platforms and players.
Coinbase Sued Over Stock Drop Linked to Data Breach
- Coinbase (COIN) is facing a class action lawsuit from shareholders after a 7.2% stock plunge tied to a December data breach.
- The lawsuit alleges Coinbase failed to disclose key information about bribed employees and compromised customer data until May 15, 2025.
- Estimated liabilities range between $180M to $400M, sparking concern among investors.
Alpaca Finance to Sunset All Products After Binance Delisting
- Alpaca Finance is shutting down all operations after Binance delisted its ALPACA token, dealing a major blow to accessibility and growth.
- The platform cited saturated DeFi competition and limited resources as factors behind the decision.
- Key shutdown dates:
- New farming positions disabled by early June
- All positions automatically closed by June 30, 2025
Lagrange Labs Plans Airdrop for New LA Token
- Lagrange Labs announced an airdrop of its LA utility token, used for proof generation fees, staking, and subsidizing prover subnetworks.
- Airdrop registration: May 28 – June 2
- 10% of the 1B LA token supply is earmarked for airdrop participants.
- Eligibility requires proof of humanity, with vesting schedules for early contributors.
Strategy Buys $427M More Bitcoin, Eyes $84B in Future Funding
- Strategy (formerly MicroStrategy) bought 4,020 BTC for $427.1 million, bringing total holdings to 580,250 BTC (~3% of total supply).
- Purchase funded by recent stock sales of MSTR, STRK, and STRF.
- The firm also:
- Filed for a $2.1B stock offering
- Plans to raise $84B through equity and convertible notes by 2027.
Crypto Investment Products See Record $3.3B Weekly Inflows
- Crypto investment products saw $3.3 billion in inflows last week, setting new highs for AUM at $187.5B, according to CoinShares.
- Year-to-date inflows hit $10.5 billion, surpassing the previous 2021 peak.
- Top gainers: Bitcoin and Ethereum
- Biggest loser: XRP, with $37.2M in outflows – a record weekly loss.