Today in crypto, Anthony Pompliano is reportedly set to launch a new Bitcoin-focused investment group, Bitcoin dropped after Israel launched airstrikes on Iran, and US President Donald Trump discussed his crypto plans at Coinbase’s State of Crypto Summit.
Anthony Pompliano to lead new Bitcoin-buying group raising $750 million: FT
Cryptocurrency entrepreneur Anthony Pompliano is reportedly in talks to launch a new Bitcoin-buying vehicle that will seek to raise $750 million.
Pompliano is expected to become CEO of ProCapBTC, a Special Purpose Acquisition Company (SPAC) that is set to merge with the publicly traded blank cheque vehicle Columbus Circle Capital 1, the Financial Times reported on Friday.
Under Pompliano’s leadership, which is still under discussion, ProCapBTC would seek to raise $500 million in equity and $250 million in convertible debt as part of a merger with Columbus Circle Capital 1, backed by the Cohen & Company investment bank.
According to the FT’s sources, the ProCapBTC deal could be announced next week, but its terms have not yet been finalized.
Columbus Circle Capital 1 is a blank check company formed with the purpose of effecting a merger, share exchange and purchase, asset acquisition, reorganization or similar combination with one or more businesses.
In May 2025, Columbus Circle raised $250 million in an initial public offering sponsored by Cohen & Company Capital Markets (CCM), a division of Cohen & Company’s broker-dealer subsidiary, JVB Financial Group.
The news follows Pompliano’s leadership of ProCap Acquisition, a fintech-focused SPAC that debuted on the Nasdaq in April.
Bitcoin dives as Israel launches airstrikes on Iran
Bitcoin has tumbled closer to the psychologically important $100,000 price level, dashing traders’ hopes of a new all-time high after Israel launched a series of airstrikes on Iran.
Explosions reportedly rocked Iran’s capital of Tehran at 22:50 UTC on Thursday before Israel claimed responsibility for the attacks, which saw Bitcoin drop 2.8% from $106,042 to $103,053 within 90 minutes before slightly recovering to $104,370 at the time of publication, according to CoinMarketCap.
The drop caught traders offside, with approximately $427.84 million in long positions liquidated over the past 24 hours, according to CoinGlass data. Just days earlier, on Tuesday, Bitcoin had climbed as high as $110,265, just below its May 22 all-time high of $111,940.
Although gold and oil prices have risen 1.44% and 11% over the past 24 hours, some crypto analysts believe this outperformance could quickly change.
Bitcoin entrepreneur Anthony Pompliano said that while oil and gold are currently rising and Bitcoin is falling, history suggests this trend could soon reverse.
He added that the initial reaction is “exactly what happened” when Iran launched hundreds of rockets at Israel in October, when Bitcoin plunged 3%.
“Bitcoin ended up outperforming the other two over the first 48 hours in that situation,” Pompliano said.
Trump outlines crypto plans at Coinbase summit
US President Donald Trump addressed Coinbase’s State of Crypto Summit on Thursday, delivering prerecorded remarks about his ongoing digital asset priorities.
“My administration is working with Congress to pass the GENIUS Act supporting the creation of dollar-backed stablecoins, and we also will be working to create clear and simple market frameworks that will allow America to dominate the future of crypto and Bitcoin,” Trump said in his second address to a crypto summit since his inauguration.
The remarks came as the Senate prepares to vote on the GENIUS Act — a major stablecoin bill — following its advancement in a key vote earlier this week.
Lawmakers in the House of Representatives are also considering the CLARITY Act, a broad effort to establish a comprehensive regulatory framework for digital assets.