Brazilian fintech Méliuz (CASH3), which serves over 30 million users in the country, is launching a public share offering to raise up to R$450 million ($78 million), with plans to allocate all proceeds to purchasing bitcoin BTC.

The offering, announced Friday in a securities filing, consists of an initial issuance of 17 million common shares, with the possibility of expanding to 51 million depending on demand. Shares will be sold exclusively to professional investors in Brazil and abroad under automatic registration rules.

Each share purchased will come with a package of free subscription warrants divided into 10 series, allowing investors to buy additional stock at set prices in the future.

At current share prices, Méliuz expects to raise around $26 million, but that figure could triple if overallotment options are exercised.

Investors participating in the offering will also receive 50.6 million warrants, of which up to 152 million will be issued in total under maximum subscription conditions.

Méliuz will use the raised funds to acquire BTC, positioning it as a «primary strategic asset» in its treasury. The firm, known for its cashback and financial services platform, revealed it was allocating 10% of its cash reserves to BTC back in March.

Warrant trading is expected to begin on June 16, with share settlement and crediting of the bonus instruments by June 18.

The company currently holds 320.2 BTC. Its shares dropped more than 8% in Friday’s trading session.

The cryptocurrency market faces renewed pressure as global economic tensions intensify, with APT experiencing significant volatility amid broader market uncertainty.

After dropping over 10% from $5.058 to $4.548, APT has begun stabilizing at critical support levels, showing resilience despite macroeconomic headwinds.

Trading volumes peaked during the sell-off period but have since shifted toward accumulation patterns, suggesting institutional interest remains despite the turbulent global economic landscape.

Technical Analysis Highlights

• APT experienced a substantial 10.08% correction, dropping from 5.058 to a low of 4.548 before staging a recovery.
• Sell-off intensified during the 22:00-00:00 period with above-average volume (2.7M-2.9M).
• Strong support established at the 4.55-4.60 zone where buyers emerged.
• Recovery phase showed consistent accumulation with price stabilizing between 4.60-4.70.
• Bullish move toward 4.75 during final hours on increased volume suggests renewed buying interest.
• Hourly price action formed a rounded bottom pattern before rallying in the final minutes.
• Substantial volume spikes at 14:01-14:02 (55K-32K) pushed prices back above 4.70.
• Hourly consolidation between 4.686-4.750 indicates stabilization attempts after the correction.

External References

• «June Token Unlocks Top $3.2 Billion: Altcoins SUI, APT, ZRO Brace For Volatility«, Coin Edition, published May 30, 2025.

New York City’s Comptroller has dismissed a plan by Mayor Eric Adams to back municipal bonds with bitcoin BTC, calling it “legally dubious and fiscally irresponsible.”

Comptroller Brad Lander, who co-manages the city’s debt issuance, rejected the proposal just days after Adams pitched the so-called “BitBond” to a crowd at a bitcoin conference in Las Vegas.

“Cryptocurrencies are not sufficiently stable to finance our city’s infrastructure, affordable housing, or schools,” Lander said in a press release. He added that such a move could shake investor confidence and run afoul of federal tax law.

The idea is part of Adams’ broader push to position New York as a global crypto hub. Since taking office, he has converted paychecks into crypto and launched a digital asset advisory council.

But Lander pushed back against the bond, which could use some of the proceeds to buy BTC. He argued that the city’s borrowing system is grounded in the U.S. dollar, and any deviation would require mechanisms that the city doesn’t have, like converting bitcoin into cash for public spending.