Trump Media Advances Bitcoin ETF Plans as Circle Debuts on NYSE and Plume Launches RWA Mainnet

The cryptocurrency and blockchain industry continues to evolve at a rapid pace, with major developments from high-profile companies and emerging projects. This week, Trump Media & Technology Group (TMTG) took a significant step toward launching a Bitcoin ETF, while Circle, the issuer of the USDC stablecoin, made its debut on the New York Stock Exchange (NYSE). Meanwhile, Plume Network launched its Real-World Asset (RWA) mainnet, signaling a new phase for decentralized finance (DeFi).

Below, we break down these key developments alongside other notable events in the crypto space.

Trump Media Files Form S-1 for Truth Social Bitcoin ETF

Trump Media & Technology Group (TMTG), the company behind former President Donald Trump’s social media platform Truth Social, has filed a Form S-1 with the U.S. Securities and Exchange Commission (SEC) regarding a potential Bitcoin ETF.

The filing marks an important step in TMTG’s plans to enter the cryptocurrency market, though details about the proposed ETF remain limited. If approved, the Truth Social Bitcoin ETF could influence regulatory perspectives on crypto-related financial products, particularly given Trump’s vocal support for digital assets in recent months.

This move also highlights the growing intersection of politics and cryptocurrency, as more political figures and entities explore blockchain-based financial solutions.

Circle Becomes First Major Stablecoin Issuer to List on NYSE

In a landmark moment for the crypto industry, Circle Internet Financial, the company behind the USDC stablecoin, began trading on the New York Stock Exchange (NYSE) under the ticker symbol CRCL on June 5.

This listing makes Circle one of the few major crypto-native companies to go public through a traditional exchange rather than via a SPAC or direct listing. The debut underscores the increasing institutional acceptance of stablecoins and blockchain-based financial services.

USDC is the second-largest stablecoin by market capitalization, trailing only Tether (USDT), and is widely used in DeFi protocols, remittances, and institutional trading. Circle’s listing could pave the way for other crypto firms to pursue similar public market opportunities.

Plume Network Launches RWA Mainnet for DeFi Expansion

Plume Network, a blockchain platform focused on integrating real-world assets (RWAs) into decentralized finance, has officially launched its Genesis Mainnet. According to the team, this marks the beginning of "the next generation of asset-backed DeFi."

The mainnet aims to bridge traditional finance with blockchain by enabling tokenized RWAs—such as real estate, commodities, and private equity—to be traded and utilized within DeFi protocols. This development aligns with broader industry trends toward asset tokenization, which could unlock trillions in liquidity for global markets.

Plume’s launch follows growing interest in RWA projects from major financial institutions and blockchain platforms seeking to merge traditional assets with decentralized infrastructure.

Cetus DEX Exploit Drains $220M in Minutes on Sui Network

A major exploit on Cetus DEX, a decentralized exchange built on the Sui blockchain, resulted in a loss of approximately $220 million. The attacker exploited an undetected bug in the protocol’s math library to siphon funds within minutes.

This incident highlights ongoing security vulnerabilities in DeFi platforms, even those operating on newer blockchains like Sui. While Cetus has not yet released a full post-mortem report, the exploit underscores the importance of rigorous smart contract audits before deployment.

The Sui team and Cetus developers are working to mitigate further risks and recover lost funds where possible.

Bitcoin Hyper Raises $366K in Presale for Solana-Powered Bitcoin L2

A new project called Bitcoin Hyper has raised over $366,000 in its ongoing presale. The platform introduces what it calls "the first full blockchain Layer 2 for Bitcoin," leveraging the Solana Virtual Machine (SVM) to reduce fees and improve transaction speeds.

The native token, $HYPER, will enable staking, governance, and cross-chain asset movement between Bitcoin, Ethereum, and Solana networks. If successful, Bitcoin Hyper could provide a scalable solution for Bitcoin-based DeFi applications while maintaining compatibility with other major blockchains.

Chainlink Whale Moves 403K LINK to Binance Amid Market Decline

A large holder of Chainlink (LINK) transferred approximately 403,000 tokens (worth millions of dollars) to Binance, sparking concerns of an impending sell-off. The transaction occurred during a broader market downturn, raising questions about short-term price pressure on LINK.

While whale movements often trigger speculation about market direction, no official statement from Chainlink or the wallet owner has confirmed any intent to sell. Analysts will be watching whether this transfer leads to increased selling activity or if it was part of a larger strategic move.

TON Outperforms Market With 3% Surge Despite Volatility

Amid broader market declines, Telegram’s native token, Toncoin (TON), surged by approximately 3%, outperforming many major cryptocurrencies listed on CoinDesk’s top 20 index. The token has shown resilience despite volatility, establishing new technical resistance levels that traders are closely monitoring.

TON’s performance reflects continued interest in Telegram’s ecosystem, which includes integrations with payments and decentralized applications (dApps).

Solana Emerges as Retail Favorite for Meme Coins & NFTs

Despite past network outages and challenges, Solana has re-emerged as a leading blockchain for retail activity—particularly in meme coins and NFTs. Its low fees and fast transactions have made it a preferred platform for speculative trading and digital collectibles.

Analysts note that Solana’s resurgence demonstrates its ability to recover from setbacks while maintaining developer and user engagement. Projects like Tensor (NFT marketplace) and Jupiter (DEX aggregator) continue to drive adoption within its ecosystem.

HyperLiquid's Market Making Vault Recovers After JELLY Controversy

HyperLiquid’s market-making vault has grown by over $250 million in total value locked (TVL) over two months after suffering a setback due to a controversial trade settlement involving JELLY tokens earlier this year. The vault had dropped to just $163 million but has since rebounded significantly.

The recovery suggests renewed confidence in HyperLiquid’s automated trading strategies despite prior disputes over risk management practices.

Conclusion: A Week of Major Crypto Developments

From regulatory filings by Trump Media to Circle’s NYSE debut and Plume’s RWA mainnet launch, this week showcased significant strides in blockchain adoption across multiple sectors—finance, politics, security, and infrastructure. While challenges like exchange exploits persist, innovation continues at an accelerating pace across both established networks and emerging platforms like Sui and Bitcoin Hyper.

As always, investors should stay informed about risks while recognizing long-term opportunities in this rapidly evolving space.