Top 5 Crypto News of the Week! (26 May - 01 June)
Dear PointPay Family,
What a week it was! Lots of news, interesting events, changes in the crypto market and announcements for the future. In all the diversity it is very easy to get lost, but not with PointPay.
We have prepared for you the Top 5 news of this week, where in TLDR format we familiarize you with the key changes that you simply can't miss.
Federal Court Rejects Trump's Tariff Authority
A US trade court has ruled that former President Donald Trump exceeded his authority when he introduced wide-ranging global tariffs. The decision cancels most of the tariffs imposed during his term, stating they were not legally grounded under current emergency economic powers. Trump's legal team is expected to challenge the ruling in the Supreme Court, where he may find stronger support.
Thailand Moves Toward Crypto Payments for Tourists
Thailand is preparing to allow tourists to spend cryptocurrency through credit card-linked systems, aiming to modernize its financial landscape. Under the proposed system, local businesses will receive Thai baht as usual, while the crypto side of transactions will remain behind the scenes. At the same time, the government is working on financial reforms that could bring digital assets and capital markets under a unified legal framework.
GameStop Confirms $513M Bitcoin Purchase
GameStop has officially entered the crypto market, announcing the purchase of 4,710 Bitcoin-its first confirmed digital asset investment. While the company did not disclose exact dates or prices, the amount is estimated at over $500 million. This move follows GameStop's March announcement of plans to explore alternative investments, supported by a $1.3 billion convertible note offering. Following the news, GameStop shares rose sharply.
Toncoin Climbs Amid Telegram's Expansion Plans
Toncoin's price rose by over 3% despite a broader market decline, supported by news of Telegram's plans to raise at least $1.5 billion from investors such as BlackRock and Mubadala. The funds will help retire existing debt, while Telegram continues to develop TON's payment ecosystem. Investors also responded to Telegram's strong financial outlook, with reported 2024 profits of $540 million and ambitious forecasts for the coming year.
US May Expand Strategic Bitcoin Reserve
David Sacks, White House adviser on crypto and AI, has suggested that the US could increase its Bitcoin holdings for strategic purposes-provided it can be done without raising national debt. He noted that existing orders allow purchases through assets seized in legal cases, and hinted that further acquisitions could be funded by redirecting underused federal resources. Sacks also called Bitcoin the financial system of the future and stressed the need for stronger energy infrastructure to support both AI and digital assets.
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