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📣Solana ETF delayed by SEC until Q3 2025, announced May 20, 2025!
Details: SEC cites regulatory concerns, stalling SOL’s $180 price rally and ETF hopes.
Source: The Block
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🔥Binance Founder CZ says "investing in crypto is risky" but "not investing in crypto is also risky
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🤖👉 Ripple CEO Brad Garlinghouse says Senator Cynthia Lummis canceled their meeting without rescheduling. Garlinghouse has invited her for an X space to discuss making the US "the crypto capital of the world" in line with the Trump Administration's goals.
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🚀Pyth Network unlocks 58.62% of the circulating supply, worth $313M, on May 20, 2025! 2.13B PYTH tokens ($0.1449 each) were unlocked, increasing supply and risking sell pressure. 🚀PYTH price drops 7% to $0.1449 ahead of the unlock, down 21% in a week. Price fell due to market anticipation of the unlock, hitting a low since May 9. 🚀Token unlock represents 36% of Pyth’s 10B total supply, with more unlocks in 2026-27. This is the largest unlock to date, with 3.6B tokens now in circulation. 🚀Market volatility expected as traders eye $0.12-$0.13 support levels post-unlock. Sell-off fears persist, but absorption could stabilize or lift PYTH price. 🚀Pyth remains the third-largest oracle provider, securing $8.38B in value. Despite the price dip, Pyth’s role in DeFi data feeds across 40+ blockchains holds strong.
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👀💥 The GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins) is a bipartisan U.S. Senate bill aimed at regulating stablecoins, cryptocurrencies pegged to assets like the U.S. dollar. On May 19, 2025, it passed a key procedural vote (66-32) and is set for a full Senate vote soon, potentially becoming the first federal stablecoin law during Trump’s second term. The act requires issuers to hold safe reserves (e.g., Treasury bills), comply with anti-money-laundering laws, and prioritize consumers in bankruptcies, aiming to ensure stability and transparency. Supporters, like Senators Bill Hagerty and Cynthia Lummis, say it boosts U.S. dollar dominance and crypto innovation. Critics, like Senator Elizabeth Warren, argue it lacks consumer protections and could benefit Trump’s stablecoin ventures, like USD1, risking corruption. The bill’s progress lifted Bitcoin to $106,011 (+2.3%) and may favor XRP due to Ripple’s payment focus. A final vote is expected by May 26, 2025.
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📣 US Fed signals 25bps rate cut for June 2025, announced May 20, 2025! Details: Dovish policy lifts crypto and stocks, with BTC holding $102,615. Source: CNBC
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