• Crypto Club 23
  • Posts
  • Market Movers: FTX Repays, Bitcoin Adoption Splits, Pi Dips, TON Halts, Ulbricht Gifted 300 BTC

Market Movers: FTX Repays, Bitcoin Adoption Splits, Pi Dips, TON Halts, Ulbricht Gifted 300 BTC

June 02, 2025

In partnership with

Learn AI in 5 minutes a day

This is the easiest way for a busy person wanting to learn AI in as little time as possible:

  1. Sign up for The Rundown AI newsletter

  2. They send you 5-minute email updates on the latest AI news and how to use it

  3. You learn how to become 2x more productive by leveraging AI

🔁 FTX Repayments Enter Phase 2: $5 Billion in Stablecoins Begins Distribution Today

FTX has officially launched the second phase of its compensation plan, distributing more than $5 billion in stablecoins to users impacted by its dramatic 2022 collapse. Starting at 15:00 UTC today, eligible claimants will begin receiving repayments as part of a long-awaited recovery process. This marks a milestone in crypto bankruptcy proceedings and could signal a new era of accountability in the digital finance space.

💼 Corporate Bitcoin Strategies: Some Go All In, Others Stay on the Fence

While Bitcoin continues to build momentum, corporate adoption remains uneven.

  • GameStop has entered the crypto arena, acquiring over 4,700 BTC in a bold treasury move.

  • Trump Media & Technology Group plans to raise $2.5 billion to convert into Bitcoin holdings—although this has diluted shareholder equity, including Trump’s majority stake.

On the other hand, many institutional investors are still hesitant, citing Bitcoin’s volatility and unclear regulatory future. The divide highlights a key question: Is Bitcoin ready for the big leagues—or still too risky for conservative portfolios?

📉 PI Network Under Pressure: Price Slides Further Amid Token Unlock Fears

The price of PI Network’s native token has dipped to around $0.64, and it may face more turbulence ahead. A scheduled release of 129 million tokens—valued at roughly $140 million—is set to hit the market, threatening to further dilute value.

Compounding this issue is the token’s absence from top-tier exchanges and a lack of strong real-world use cases. With these limitations, investor confidence in PI’s future is showing clear signs of strain.

⚠️ TON Blockchain Faces Outage, Users Left in the Dark

The TON blockchain network experienced a sudden service interruption recently, leaving users locked out and services offline. While the cause of the disruption has not been fully disclosed, the outage has sparked concerns about network reliability. With scalability and uptime crucial for Web3 projects, TON’s response and recovery timeline will be closely watched.

🎁 Ross Ulbricht Gifted 300 BTC as Supporters Rally Behind His Cause

Ross Ulbricht, founder of the Silk Road marketplace, has received a 300 BTC donation—worth over $30 million—from a community-driven group known as FreeRossDAO. The gift aims to support his legal campaign and advocacy efforts for a potential retrial or clemency.

While Ulbricht remains a divisive figure, the donation reflects ongoing debate about sentencing, justice, and the legacy of crypto’s early pioneers.