Welcome to This Week in Crypto, where we break down the biggest headlines shaping the world of digital assets. From billion-dollar raises to major index updates, crypto continues to make waves in traditional finance.
Here’s a quick look at what’s new:
- XRP joins Nasdaq index: The digital asset is now included in Nasdaq’s Crypto US Settlement Price Index.
- Tether IPO talk heats up: A new analysis estimates the stablecoin issuer’s valuation at $515 billion.
- Saylor teases another BTC buy: Strategy could be gearing up for its ninth straight week of Bitcoin purchases.
Let’s dive into each story and see what it means for crypto this week!
XRP Joins Nasdaq Crypto Index
XRP has officially been added to the Nasdaq Crypto US Settlement Price Index, a move that highlights growing interest in broader crypto exposure. The inclusion marks a shift toward greater institutional recognition—even though the ETF that tracks the index still isn’t allowed to hold XRP just yet.
- Nasdaq expanded the index on June 2 to include XRP, SOL, ADA, and others.
- Hashdex’s ETF, which tracks the index, still can’t hold any crypto besides Bitcoin and Ethereum.
- Nasdaq has asked the SEC to approve a broader benchmark that would include XRP and more.
If the SEC gives the green light, the ETF would be able to hold all the coins in the index, including XRP, as soon as November.
Tether’s $515B Valuation Sparks Debate
What if Tether went public? A new analysis suggests its estimated valuation could reach $515 billion—placing it among the largest companies globally, ahead of brands like Coca-Cola and Costco.
- The valuation assumes Tether grows its USDT supply and maintains profits from U.S. Treasuries and reserves.
- Tether made $13B in net profits in 2024, mostly from interest and gains on assets like Bitcoin and gold.
- Analysts say $515B is just a model—but it shows how big stablecoins have become in global finance.
While it’s just a theoretical number, the estimate puts Tether’s role in the crypto ecosystem into sharp focus.
Saylor Hints at More Bitcoin After $1B Raise
Strategy’s Michael Saylor posted “Send more Orange” on X—his usual way of teasing a Bitcoin purchase. It came just days after the company raised $1 billion by offering preferred stock to investors.
- Strategy bought 705 BTC last week, raising its total to 580,955 BTC (worth over $61B).
- The company’s new $1B offering targets future Bitcoin buys and general expenses.
- Strategy now holds more BTC than the U.S. and China combined, with $20B+ in unrealized profit.
If history is any guide, Saylor’s next post may come with yet another Bitcoin announcement.
