Circle’s stock (CRCL) soared 25% to $133.56, approaching its all-time high, fueled by growing adoption of its USDC stablecoin and market anticipation of potential retail stablecoin launches by Amazon and Walmart.
GameStop shares plummeted 22% following its announcement of a $2.25 billion convertible notes offering. Investor concerns mounted as the company provided no clarity regarding cryptocurrency strategy or Bitcoin investment plans.
SharpLink Gaming witnessed a precipitous stock decline exceeding 70% after an SEC filing, despite clarifying the submission was routine. The company simultaneously revealed plans to deploy $462 million in Ethereum for treasury management.
In related market developments, multiple Solana ETF issuers amended filings to incorporate staking provisions, while Coinbase expanded its Global Advisory Council with the addition of strategist David Plouffe.
Bitcoin mining operations showed signs of recovery, with firms like Bitdeer reporting an 18% month-over-month increase in BTC production during May, indicating sector-wide operational improvements.