The Daily: Champions League finalists PSG disclose BTC treasury, Trump Media secures $2.3 billion to buy bitcoin, and more

The following article is adapted from The Block’s newsletter,  The Daily , which comes out on weekday afternoons.

It's Friday! Bankrupt crypto exchange FTX began distributing over $5 billion this morning, with eligible creditors set to receive funds via Bitgo or Kraken within one to three business days as part of phase two of its Chapter 11 reorganization plan.

In today's newsletter, Paris Saint-Germain announces a bitcoin treasury, Trump Media secures $2.3 billion to buy bitcoin, Thailand seeks to ban crypto exchanges for unlicensed operations, and more.

Meanwhile, bitcoin and alts dip amid muted U.S. PCE inflation data . Plus, Ross Ulbricht highlights "freedom, decentralization, and unity" in his first speech after release from prison .

Let's get started.

Champions League finalists PSG disclose bitcoin treasury

European football giant Paris Saint-Germain, who kick off against Inter Milan in the UEFA Champions League final on Saturday, has quietly added bitcoin to its treasury , converting part of its fiat reserves into the foremost cryptocurrency last year.

• Pär Helgosson, head of the club's innovation arm, PSG Labs, disclosed the acquisition for the first time at Bitcoin 2025 on Thursday, confirming it remains a long-term holder.
• PSG is not the only sports team to explore crypto, and it's one of many clubs to issue fan tokens on the Chiliz blockchain. However, it’s the largest so far to publicly embrace bitcoin in this way.
• "We put bitcoin in our books. We took our fiat reserves and we actually allocated to bitcoin," Helgosson said on stage. "We still have it in our books. And as one of the largest clubs in the world, we're the largest player in the sports ecosystem to do that."
• With 80% of its 550 million global fans under 34, PSG sees Bitcoin as a bridge to its digitally native audience.
• PSG also plans to invest directly in Bitcoin startups and ventures, positioning itself as an accelerator for crypto talent — a strategy Helgosson said aligns with the club's identity as a forward-looking "lifestyle brand," not just a football team.

Trump Media secures $2.3 billion to buy bitcoin

Trump Media has closed a previously announced $2.44 billion private offering with around 50 institutional investors to create a corporate bitcoin treasury.

• The Nasdaq-listed Truth Social and Truth.Fi operator plans to use $2.32 billion in net proceeds to buy bitcoin and for other general corporate purposes— aiming to become one of the top BTC holders among publicly traded U.S. firms.
• DJT shares dropped 10% on the initial Tuesday announcement but briefly popped 5% on Friday after the deal's closure.
• CEO Devin Nunes said the move gives Trump Media over $3 billion in liquid assets and positions it for rapid growth in the "America First economy."

Thailand moves to block some crypto exchanges

Thailand's Securities and Exchange Commission announced it will block access to Bybit, OKX, CoinEx, 1000X, and XT starting June 28 for operating without licenses.

• The regulator said the ban aims to protect investors and curb money laundering through unregistered crypto platforms.
• OKX responded by emphasizing its commitment to compliance and cooperation with global regulators.
• The move follows Thailand's broader push to tighten crypto oversight amid plans to issue a government-backed investment token.

SEC says proof-of-stake staking activities do not constitute securities transactions

The SEC's Division of Corporation Finance declared on Thursday that staking activities on proof-of-stake networks do not constitute securities transactions .

• The guidance applies broadly to self-staking, third-party node operators, and custodians staking on behalf of clients.
• Jito Labs Chief Legal Officer Rebecca Rettig said it clears the way for crypto ETFs to include staking elements in their products.
• While Republican SEC Commissioner Hester Peirce welcomed the clarity, Democrat Commissioner Caroline Crenshaw criticized the move as downplaying investor risks.

Hyperliquid(ated) trader James Wynn hit with $100 million loss

Hyperliquid trader James Wynn lost over $100 million after multiple highly leveraged bitcoin long bets collapsed on Friday following the price drop over the past week.

• The self-proclaimed "high-risk leverage trader" had scaled his long position to over $1.25 billion before being hit by liquidations totaling more than 1,000 BTC.
• "One thing for sure is that I have exposed just how corrupt these markets are," Wynn said on X. "Guess it's better to just buy and hold BTC on spot/cold storage it."

Looking ahead to next week

• Eurozone CPI inflation data are released on Tuesday. The ECB's latest interest rate decision and U.S. jobless claims figures are due on Thursday. Eurozone GDP and U.S. nonfarm payroll numbers are out on Friday.
• U.S. Federal Reserve Chair Jerome Powell will speak on Monday.
• Optimism, Sui, dYdX, Ethena, EigenLayer, and IOTA are among the crypto projects set for token unlocks.

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