According to Foresight News, the U.S. Securities and Exchange Commission (SEC) released a statement from its chairman Paul S. Atkins during his testimony before the House Financial Services and General Government Appropriations Subcommittee on May 20, 2025, where he stated that he will prioritize promoting regulatory transparency and accountability for the SEC, especially in the digital asset space, and emphasized that the SEC should conduct a rigorous cost-benefit analysis when formulating rules to avoid adverse effects on market innovation due to over-regulation.
Paul Atkins also pointed out that the SEC will strengthen cooperation with Congress to ensure that its regulatory activities are in line with legislative intent and will adopt a prudent approach to digital asset regulation to avoid hindering technological progress. He stated that the SEC will continue to fulfill its mission of protecting investors and maintaining market integrity while promoting healthy development in financial markets.
● Trump: The alternative to not passing the tax bill is a significant tax increase
According to BlockBeats, U.S. President Trump stated that the alternative to not passing the tax bill is a significant tax increase.
● Strategy's STRK preferred stock has outperformed Bitcoin and the S&P 500 since its issuance
According to ChainCatcher, Strategy's perpetual convertible preferred stock STRK has risen 16% since its issuance on February 10, 2025, outperforming Bitcoin, which has risen 10% in the same period, and the S&P 500 index, which has fallen 2%. The company raised $59.7 million in its latest round through a weekly issuance plan, setting a record for the highest weekly amount raised, and the funds are used to increase Bitcoin holdings. Currently, Strategy holds a total of 576,230 Bitcoins, with an annualized return of 16.3%. The current effective yield of STRK is 8.1%, with a low correlation to Strategy's common stock, providing investors with differentiated market exposure.
According to ShenChao TechFlow, on May 20, Bloomberg senior analyst Mike McGlone posted on social media that the 30-year U.S. Treasury yield surpassing 5% may indicate that investors are selling off U.S. assets. This trend may create resistance for stocks and highly speculative cryptocurrencies, while being favorable for gold.
● Standard Chartered: SEC data disclosure supports Bitcoin reaching $500,000 by 2028
According to Odaily Planet Daily, Standard Chartered's Geoff Kendrick stated that the recent 13F filing submitted to the U.S. Securities and Exchange Commission (SEC) supports Bitcoin's potential price increase to $500,000 by the end of 2028. Although direct ETF holdings decreased in the first quarter, government agencies have increased their stakes in Strategy, which is viewed as an alternative asset to Bitcoin. This may reflect government agencies' efforts to increase Bitcoin holdings despite regulatory constraints.
● The probability of the Federal Reserve maintaining interest rates in June is 94.7%
According to Jin Ten Data, CME's 'FedWatch' shows that the probability of the Federal Reserve maintaining interest rates in June is 94.7%, with a 5.3% chance of a 25 basis point rate cut. The probability of the Federal Reserve maintaining interest rates in July is 70.3%, with a cumulative 28.4% chance of cutting rates by 25 basis points and a 1.4% chance of cutting by 50 basis points.
● Texas passes Bitcoin investment bill, awaiting governor's approval
According to ChainCatcher, Texas has passed the (Texas Strategic Bitcoin Reserve and Investment Bill), allowing the state to invest in Bitcoin (BTC). The bill has now passed its second review and is awaiting the governor's approval to become law.
● CME's XRP futures had a trading volume of $19 million on the first day
According to Odaily Planet Daily, CME Group launched XRP futures on Sunday, making it the fourth cryptocurrency product following Bitcoin, Ethereum, and Solana. The nominal trading volume exceeded $19 million on the first day. XRP futures offer micro contracts (2,500 XRP) and large contracts (50,000 XRP), both cash-settled and pegged to the CME CF XRP-USD reference rate.
Solana futures were launched in March, with a trading volume of $12.3 million on the first day. Hidden Road cleared the first XRP futures transaction, and its president, Noel Kimmel, stated that this is an important milestone for Hidden Road, marking the ongoing adoption of digital assets by institutions.
