From CoinTelegraph
May 11, 2025 9:00 am:

Nexo plans to reenter the US market, becoming the eighth major crypto firm to do so under President Trump’s administration. Other firms like Circle and Binance are also eyeing US expansion, banking on favorable regulatory clarity in 2025. Trump and his family are tied to some of these expansions, sparking concerns of conflicts of interest.

Binance.US resumes USD services after being halted due to a civil enforcement action by the CFTC, settling for $2.7 billion. The SEC sued Binance and CEO CZ for willful evasion of US laws. Following a settlement with the DOJ in November 2023, CZ has sought clemency from President Trump.

eToro files for a US IPO after facing enforcement action from the SEC in 2024 for operating as an unregistered broker and clearing agency. The platform seeks a $4-billion valuation, aiming to raise $500 million with plans to offer 10 million Class A shares. The move signals growing investor confidence in crypto trading platforms in the US.

OKX relaunches in the US after a $500-million settlement with the DOJ for violating anti-money laundering laws for over seven years. The platform paid the fine, pleaded guilty to operating an unlicensed money-transmitting business, and agreed to pay for compliance. The relaunch comes amid improving regulatory conditions.

Nexo returns to the US market after leaving in 2022 due to regulatory deadlock. US customers will have access to Nexo’s services, including asset-backed credit lines and crypto savings accounts. Co-founder Antoni Trenchev credited President Trump’s crypto-friendly approach for their relaunch, expressing determination to succeed in the US.

Circle relocates its global headquarters to NYC from Boston ahead of its IPO and plans to list on the NYSE. The move aligns with Circle’s commitment to traditional financial markets and reflects its integration strategy. The issuer of the USDC stablecoin is positioning itself for growth and success in the US market. Circle, a cryptocurrency firm, plans to go public with a $5-billion valuation. CEO Jeremy Allaire emphasized the importance of trust and stability in finance. The company aims to integrate traditional finance with crypto services in the US, offering stock and ETF trading by 2025. Crypto.com’s expansion aligns with industry trends.

Andreessen Horowitz (a16z) closes its UK branch to focus on the US market. The firm cited regulatory concerns and lack of government support in the UK. Despite initial efforts to establish a presence in the country, a16z decided to relocate back to the US due to a more favorable environment for the crypto industry.

Coinbase acquires Deribit for $2.9 billion to become the largest crypto derivatives platform by open interest. This strategic move aims to capture a larger share of the growing global crypto derivative market. With major exchanges vying for dominance, Coinbase’s acquisition positions it as a key player in the industry.

Read more at Cointelegraph.com

1. Bitcoin hits new record high of $60,000, fueled by increased institutional investment and growing mainstream acceptance. The cryptocurrency’s market cap surpasses $1 trillion for the first time, solidifying its position as a leading digital asset.

2. Ethereum reaches all-time high of $2,000 as demand for decentralized applications and smart contracts continues to rise. The second-largest cryptocurrency by market cap is benefiting from increased interest in its blockchain technology and network.

3. Tesla announces $1.5 billion investment in Bitcoin, signaling a major endorsement of the digital currency by a prominent tech company. The move boosts Bitcoin’s price and credibility, further legitimizing its role as a store of value and hedge against inflation.: 8 major crypto firms announce US expansion this year