Today in crypto, BlackRock is reportedly seeking to acquire a 10% stake in Circle ahead of its IPO. GameStop has announced its first investment in Bitcoin, and US Representative Bryan Steil told Cointelegraph that crypto legislation should remain free of unrelated policy provisions. BlackRock eyes 10% stake in Circle's IPO — Report BlackRock is reportedly planning to take a significant stake in Circle’s upcoming initial public offering (IPO). According to a May 28 Bloomberg report citing anonymous sources, BlackRock is looking to purchase roughly 10% of the offering. Circle, the issuer of the USDC stablecoin, is aiming to raise $624 million in its initial public offering. Cathie Wood’s Ark Investment Management is also interested in buying $150 million worth of shares in the offering, the report said. Circle launched its offering of 24 million shares of Class A common stock on May 27. The offering consists of shares from the company as well as shares of existing stakeholders, including co-founder and CEO Jeremy Allaire. According to the report, Circle’s IPO has now received orders for multiple times the shares available. The company filed for an initial public offering on April 1, but delayed plans citing economic uncertainty. Crypto firms Ripple and Coinbase were reportedly exploring a potential acquisition of Circle. The company has since dismissed the speculation, saying it “is not for sale.” GameStop officially confirms first Bitcoin purchase of 4,710 BTC GameStop, the US video game and consumer electronics retailer, has confirmed its first Bitcoin investment , acquiring 4,710 Bitcoin, according to a statement posted May 28 on the company’s X account. The company did not specify how much it paid for the Bitcoin ( BTC ) or when the purchases were made in the announcement , while its Form 8-K filing with the US Securities and Exchange Commission also offers little detail. The amount purchased was worth around $513 million at the time of writing. The announced acquisition is GameStop's first publicly acknowledged Bitcoin purchase since the company disclosed plans to move into Bitcoin investment in March. At the time, GameStop said it would fund the Bitcoin purchase through debt financing and launched a $1.3 billion convertible notes offering. Source: GameStop The news comes after months of speculation that GameStop was exploring alternative assets, including cryptocurrencies . Rep. Steil wants restraint on crypto bill additions Republican Representative Bryan Steil told Cointelegraph on May 27 that he wants lawmakers to stop adding what he considers non-relevant clauses into two key crypto bills, claiming that doing so is slowing the implementation of a regulatory framework for the industry. “Individuals, when they see legislation that’s going to move forward, want to attach non-germane items to any bill that’s going to move through and be signed into law,” Steil, chair of the House Financial Services Subcommittee on crypto, told Cointelegraph at the Bitcoin 2025 conference in Las Vegas. Stable Coin and Market Structure legislation will unlock the golden age of digital assets. pic.twitter.com/lSbX5p2Wqt — Bryan Steil (@RepBryanSteil) May 27, 2025 “We have to restrain ourselves from that instinct and attempt by our colleagues — both sides of the aisle,” he added. Crypto backers in Congress hope to pass stablecoin and market structure bills before a month-long August recess, which was hampered by Democrats who pulled support for the stablecoin bill earlier in May over concerns about President Donald Trump’s crypto ventures. Steil argued the concerns related to Trump aren’t relevant to the bills, and the “text is focused on putting forward a regulatory framework in which we can enforce actions to strengthen this broader market.”
