Pakistan is laying the groundwork to become a major player in the global digital asset economy, announcing plans for a strategic bitcoin reserve and large-scale infrastructure for crypto mining.

DeFi Development Corp, a Nasdaq-listed firm focused on crypto treasury operations, has adopted liquid staking tokens (LSTs) on Solana to bolster its validator business and expand its on-chain presence.

BlackRock is reportedly planning to purchase roughly 10% of the shares offered in Circle’s upcoming initial public offering.

Top stories in the Crypto Roundup today:

• Pakistan to Launch Bitcoin Reserve, Dedicate 2,000 Megawatts to Crypto Mining 
• DeFi Development Corp Becomes First Public Company to Hold Liquid Staking Tokens on Solana
• BlackRock Eyes 10% Stake in Circle's $624M IPO Amid Deepening Crypto Ties

Pakistan to Launch Bitcoin Reserve, Dedicates 2,000 Megawatts to Crypto Mining

Pakistan is laying the groundwork to become a major player in the global digital asset economy, announcing plans for a strategic bitcoin reserve and large-scale infrastructure for crypto mining.

Speaking at the Bitcoin 2025 conference in Las Vegas, Bilal Bin Saqib, Pakistan’s Minister of State for Blockchain and Crypto, said the government would establish a “national bitcoin wallet” that will hold BTC long-term. 

The reserve, modeled after a similar concept proposed by the U.S. government, is not meant for speculation. “We will be holding these bitcoins and we will never, ever sell them,” Bin Saqib said.

Alongside the reserve, Pakistan will dedicate 2,000 megawatts of energy for bitcoin mining and AI-focused data centers. 

DeFi Development Corp Becomes First Public Company to Hold Liquid Staking Tokens on Solana

DeFi Development Corp, a Nasdaq-listed firm focused on crypto treasury operations, has adopted liquid staking tokens (LSTs) on Solana to bolster its validator business and expand its on-chain presence.

The company announced that it will allocate a portion of its 609,190 SOL holdings, valued around $105.8 million, into dfdvSOL, a liquid staking token developed by infrastructure provider Sanctum. 

These tokens allow the firm to stake its SOL and earn rewards while maintaining liquidity, rather than locking the tokens up.

With the move, DeFi Development claims to be the first publicly traded company to own LSTs on Solana.

BlackRock Eyes 10% Stake in Circle's $624M IPO Amid Deepening Crypto Ties

BlackRock is reportedly planning to purchase roughly 10% of the shares offered in Circle’s upcoming initial public offering.

Circle, the firm behind the USDC stablecoin, is looking to raise as much as $624 million in the IPO, according to a recent U.S. Securities and Exchange Commission filing. The offering, slated to price on June 4, has already been oversubscribed, Bloomberg reports citing sources familiar with the matter.

While BlackRock has not publicly confirmed its participation, it already plays a central role in Circle’s operations. The asset manager oversees the Circle Reserve Fund, a government money market fund that holds 90% of the cash and short-term assets backing USDC. As of May 22, that fund held $53.5 billion.

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