Here’s What Happened in Crypto Today (May 27, 2025) 📉
The global cryptocurrency market is experiencing a downturn today, with a 2.3% decrease in market capitalization, now standing at $3.55 trillion. Despite the general decline, a few top coins showed slight appreciation. Ethereum (ETH) saw a minimal increase of 0.2%, while Tron (TRX) and Binance Coin (BNB) rose by 1.5% and 0.8%, respectively.
Bitcoin (BTC), however, fell by 0.6% to $109,181, and XRP witnessed the steepest decline, dropping 2.2% to $2.3. Amidst the noted declines, Quant (QNT) emerged as the top gainer with a notable 10.2% increase.
Bitget Unveils BGUSD: New Stable Asset 🌟
Bitget has officially launched BGUSD, a tokenized version of US Treasuries aimed at delivering yield-bearing solutions to its users. This innovative product promises an annualized yield starting at 4%, credited daily to users' spot accounts based on their balance, with an introductory promotional 5% APY for the first month.
The aim is to enhance capital efficiency and support Bitget's overall ecosystem, integrating with various platform features like lending collateral, futures margin, and more.
Sony Expands Blockchain Gaming with Sleepagotchi 🎮
Sony's Layer-2 blockchain, Soneium, welcomes the popular Sleepagotchi game into its ecosystem via the LINE MINI App platform. With an established user base on Telegram, this integration taps into LINE's 200 million active users, allowing them to enjoy a reimagined gaming experience without sleep tracking.
The combination of creativity and accessibility aligns with both Sony's and Sleepagotchi's goals, providing a fun platform for global users.
Sati and Xverse: Lightning Network Integration ⚡
Bitcoin payments application provider Sati has unveiled its Lightning Network integration with Xverse, a Bitcoin wallet boasting 1.5 million users. This integration allows seamless transactions of sats via the Lightning Network, eliminating barriers such as app switching or custodial risks.
The integration also introduces Lightning Addresses for all Xverse users, facilitating quick transactions and strengthening Sati's reach across WhatsApp's extensive user base.
This marks a significant leap in streamlining Bitcoin microtransactions and demonstrates the evolving infrastructure supporting digital currencies worldwide.
📊 Circle Files for IPO on the NYSE
Circle, the company behind the USDC stablecoin, has officially filed for an initial public offering (IPO) on the New York Stock Exchange. The company plans to trade under the ticker CRCL and is offering 24 million shares of its Class A stock. Out of these, 9.6 million shares will be newly issued by Circle, while 14.4 million will be sold by existing shareholders. Major investment banks like JPMorgan, Goldman Sachs, and Citigroup are leading the IPO. European banks like Barclays and Deutsche Bank are also involved, highlighting strong global interest.
🛡️ Michael Saylor Criticizes Onchain Proof-of-Reserves
Bitcoin advocate and executive chairman of Strategy (formerly MicroStrategy), Michael Saylor, spoke out against the use of onchain proof-of-reserves by institutions. At a recent event, he called it a “bad idea,” warning it could actually reduce security for custodians, exchanges, and investors. Saylor believes that publishing wallet addresses publicly could open the door to potential attacks and doesn't align with best practices for enterprise security.
🏙️ Dubai Launches Tokenized Real Estate Platform
In a first for the Middle East and North Africa region, Dubai has launched a licensed tokenized real estate project. Backed by the Dubai Land Department and the Central Bank of the UAE, the project allows investors to buy shares in real estate starting from just 2,000 dirhams (around $545). These tokenized assets will be tradeable on the new Prypco Mint platform. While the pilot program is currently limited to UAE residents, Dubai plans to expand access globally. Notably, all transactions in the pilot will be conducted in the local currency, not crypto.
