Trump Pushes U.S. Crypto Leadership as Microsoft Signs $9.7B IREN GPU Deal

Ripple Launches U.S. Prime Brokerage for OTC Crypto Spot Trading After $1.25B Hidden Road Deal, Adds RLUSD Stablecoin and XRP Integration

Ripple has launched a new U.S.-based digital asset prime brokerage platform offering over-the-counter (OTC) spot trading across major cryptocurrencies, including XRP and its RLUSD stablecoin. The expansion follows Ripple’s $1.25 billion acquisition of multi-asset broker Hidden Road, finalized last month, integrating its licenses and infrastructure to deliver unified execution, clearing, and financing services across crypto, FX, derivatives, and fixed income.

The new platform allows institutional clients to cross-margin OTC spot holdings with broader blockchain portfolios, such as CME futures and options, bridging traditional and digital markets. Ripple Prime International CEO Michael Higgins said the move complements the company’s existing OTC and cleared derivatives offerings.

Ripple’s 2025 expansion spree includes the $1 billion acquisition of GTreasury to bolster corporate treasury solutions and a $1 billion raise to strengthen XRP liquidity reserves. CEO Brad Garlinghouse cited improving U.S. regulatory conditions under the Trump administration, noting progress on stablecoin and market structure legislation. Ripple has also joined Coinbase and other crypto firms in donating to the administration’s new White House ballroom fund.

Global Crypto Funds See $360M in Outflows as U.S. Investors Pull $435M, Bitcoin Products Lead $946M Withdrawals While Solana ETPs Surge $421M

Crypto investment products managed by major firms including BlackRock, Fidelity, and Grayscale recorded $360 million in net outflows last week, reversing $921 million in inflows from the previous week, according to CoinShares. The decline was largely driven by U.S. investors, who withdrew $435 million, while Germany and Switzerland saw modest inflows of $32 million and $30.8 million, respectively.

CoinShares’ James Butterfill attributed the shift to the Federal Reserve’s hawkish stance following its recent rate cut, noting investor uncertainty due to limited new economic data. Bitcoin funds led the downturn with $946 million in outflows, including $799 million from U.S. spot Bitcoin ETFs—$403 million of which exited BlackRock’s IBIT.

Ethereum products bucked the trend with $57.6 million in global inflows, supported by $16.1 million from U.S. spot ETFs. Solana ETPs saw a massive $421 million inflow, the second largest on record, driven by strong demand for newly launched U.S. ETFs and pushing Solana’s year-to-date inflows to $3.3 billion.

IREN Signs $9.7B GPU Cloud Deal With Microsoft, Buys $5.8B in NVIDIA GB300s From Dell for Texas AI Campus

IREN Limited announced a five-year, $9.7 billion GPU cloud services contract with Microsoft, including a 20% prepayment. To fulfill the deal, IREN will acquire $5.8 billion worth of NVIDIA GB300 GPUs and related equipment from Dell Technologies. The GPUs will be deployed in phases through 2026 at IREN’s 750MW Childress, Texas facility, which will feature new liquid-cooled data centers supporting 200MW of critical IT load.

IREN plans to fund the expansion with existing cash, customer prepayments, operating cash flows, and additional financing. Co-CEO Daniel Roberts said the deal validates IREN’s position as a trusted AI cloud provider and expands its reach among global hyperscalers. Microsoft’s Jonathan Tinter added that the collaboration strengthens both companies’ ability to deliver cutting-edge AI infrastructure and unlock new growth opportunities.

Trump Reaffirms Goal to Make U.S. ‘Crypto Capital of the World,’ Defends Pardons for CZ and Ross Ulbricht in 60 Minutes Interview

In a 90-minute “60 Minutes” interview, U.S. President Donald Trump reiterated his ambition to make America the global leader in cryptocurrency, declaring, “We’re number one in crypto because I’m the president.” Trump said he intends to prevent China and other nations from overtaking the U.S., calling crypto a “massive industry.”

Trump criticized former President Joe Biden’s late pivot toward pro-crypto rhetoric during his failed reelection campaign, claiming voters “went all in on crypto at the very end” but ultimately sided with him. The Trump family has since become deeply involved in the industry, reportedly earning over $1 billion through ventures ranging from Bitcoin mining to memecoins.

Since returning to office, Trump has signed executive orders establishing a U.S. Strategic Bitcoin Reserve and dismissing numerous SEC lawsuits against crypto firms like Coinbase, Uniswap, and OpenSea. He also granted clemency to Silk Road founder Ross Ulbricht and pardoned Binance co-founder Changpeng “CZ” Zhao, describing the prior prosecution as a “Biden witch hunt.”

Trump dismissed corruption concerns raised by CBS reporter Norah O’Donnell, reiterating that America remains “number one in crypto.” Meanwhile, Zhao’s attorney has demanded a retraction from Sen. Elizabeth Warren following her criticism of the post-pardon decision, and is reportedly considering legal action.

Chainlink Partners With FTSE Russell to Bring Russell and FTSE Index Data Onchain via DataLink Integration

Chainlink has partnered with FTSE Russell to bring its global market indices, including the Russell 1000, Russell 2000, and Russell 3000, onchain through Chainlink’s institutional-grade DataLink service. The integration will make FTSE Russell’s benchmark data available 24/7 across multiple blockchains, enabling new financial products and tokenized asset innovations.

FTSE Russell CEO Fiona Bassett said the collaboration marks a “major step” toward bridging traditional finance and blockchain, allowing institutions and developers to securely access the same trusted benchmarks that power global markets. DataLink, already used by S&P Global and Deutsche Börse, connects data providers directly to Chainlink nodes for use by decentralized apps and smart contracts.

FTSE Russell, a subsidiary of the London Stock Exchange Group, manages some of the world’s most widely tracked indices. The Russell 1000 currently holds a weighted-average market cap of $1.013 trillion and is up over 16% year-to-date. Chainlink’s LINK token fell more than 10% Monday amid a broader crypto market decline.