KEYTAKEAWAYS
- The crypto regulatory landscape is rapidly shifting as the SEC drops its appeal against Ripple and President Trump prepares to address a major crypto conference, signaling a new era of government engagement.
- Institutional developments continue with Ethereum ETFs experiencing outflows despite overall growth, while Uniswap governance approves $165 million in ecosystem investments and prepares for fee sharing with token holders.
- Security remains a critical industry focus as Bybit works to recover $1.4 billion in stolen assets, revealing North Korea now ranks as the third-largest government Bitcoin holder behind only the US and UK.
CONTENT
Welcome to the CoinRank Crypto News Roundup. CoinRank will provide daily important crypto news in this column series, allowing readers to quickly obtain the latest crucial updates from the cryptocurrency market.
MORNING NEWS
1. Trump to Make History as First Sitting President to Address Crypto Conference
Donald Trump will make history as the first sitting U.S. President to address a crypto conference when he speaks at the Blockworks Digital Asset Summit in New York City on Thursday. While Trump headlined the July 2024 Bitcoin Conference in Nashville before winning the presidency, this marks his first crypto event appearance as president. Rumors suggest he may make a landmark crypto policy announcement during his speech.
2. Circle Mints 250 Million USDC on Solana Blockchain
Data from Cointelegraph indicates that Circle has minted approximately 250 million USDC on the Solana blockchain, expanding the stablecoin’s presence on the high-performance network.
3. SEC Drops Appeal Against Ripple, Ending Four-Year Legal Battle
The Securities and Exchange Commission is dropping its appeal against crypto firm Ripple, ending a four-year fight that began in December 2020. Ripple CEO Brad Garlinghouse called the conclusion “the end of the war on crypto” and criticized the SEC for wiping out “$15 billion of value from innocent XRP holders.” XRP jumped 10% following the news. The SEC had previously been ordered to pay Ripple $125 million in penalties, which the company may still pursue through its cross-appeal. The move aligns with the Trump administration’s more crypto-friendly regulatory approach, as the SEC has recently dropped several cases against firms like Robinhood, Coinbase, Gemini, and Kraken.
4. Uniswap Community Approves Major Growth Initiatives and Fee Switch Preparations
The Uniswap community has voted in favor of two governance proposals to drive growth of the recently launched Unichain Layer 2 and Uniswap v4 protocols through a new grants program and liquidity incentives. The “Uniswap Unleashed” plan allocates $95.4 million for grants, $25.1 million for operations, and $45 million for liquidity incentives over the next two years. Gauntlet has deployed an Aera vault seeded with over 7.5 million UNI tokens ($52 million). Importantly, the proposal lays groundwork for activating the long-promised “fee switch,” which would direct a portion of protocol revenues from liquidity providers to UNI token holders. Uniswap has collected over $1 billion in annualized fees.
5. Privy Raises $15 Million for Crypto Wallet Infrastructure
Privy, a provider of cryptocurrency wallet infrastructure, raised an estimated $15 million in a funding round led by Ribbit Capital. The company offers APIs for developers to manage and integrate user data, allowing its customers to offer crypto services and other on-chain functions. The investment brings Privy’s total funding to over $40 million, with participation from existing investors Sequoia Capital, Paradigm, BlueYard, and Coinbase.
NOON NEWS
1. Ethereum ETFs See 11th Straight Day of Outflows as Price Falls
Spot Ethereum ETFs in the U.S. posted their 11th consecutive day of net outflows, losing approximately $358.1 million as Ethereum’s price fell almost 7%. BlackRock’s iShares Ethereum Trust ETF (ETHA) saw $12.9 million in outflows, contributing to a net loss of $137.6 million over the period. Fidelity’s FETH and Grayscale’s ETHE were the other top contributors to the total outflow. Despite these losses, Ethereum ETFs still hold around $7 billion worth of the cryptocurrency and have seen a cumulative net inflow of $2.45 billion since their July launch. Meanwhile, Bitcoin ETFs posted their fourth consecutive day of inflows.
2. SHELL Repurchase Program Reaches 74% Completion
According to on-chain analyst @ai_9684xtpa, the SHELL market maker’s public repurchase address now holds 19.95 million tokens worth approximately $5.92 million, indicating that 74% of the announced repurchase program has been completed. Despite the significant buyback progress, SHELL’s price remains relatively stable at $0.3029.
3. Trump Pressures Fed to Cut Rates Ahead of Tariff Implementation
President Donald Trump is pushing the Federal Reserve to cut interest rates as a backstop for his tariff plans. On Truth Social, Trump encouraged Chair Jerome Powell to ease policy as the administration enters the next phase of its aggressive trade policy, writing: “The Fed would be MUCH better off CUTTING RATES as U.S. Tariffs start to transition (ease!) their way into the economy.” Hours earlier, the Powell-led FOMC voted to keep rates steady but signaled two possible rate reductions by year-end. Powell addressed the uncertain impact of tariffs during his post-meeting conference, noting they could raise inflation in the short run before effects recede over time.
4. Pudgy Penguins CEO Claims NFTs Outperform Staked ETH
Pudgy Penguins CEO Luca Netz claimed on X that holding a Pudgy Penguin NFT is the best way to hold ETH. According to Netz, the return value of Pudgy Penguin NFTs has far exceeded that of staked ETH since the collection’s establishment, suggesting that NFT staking offers superior returns for ETH holders.
5. Coinbase Releases First Ethereum Validator Performance Report
Coinbase has released its first Ethereum validator performance report to provide transparency regarding its staking operations. The report reveals that Coinbase operates 120,000 validators managing 3.84 million ETH (11.42% of total staked ETH), plus an additional 581,500 ETH staked through partners. Key metrics include 99.75% uptime and participation rate, zero slashing events since inception, two types of consensus clients (Lighthouse, Prysm), two execution clients (Geth, Nethermind), six relay types, and validator distribution across five countries and two cloud service providers.
EVENING NEWS
1. Bedrock Token Launch on Binance Wallet Sees 54x Oversubscription
Binance Wallet has partnered with PancakeSwap to host an exclusive token generation event for multi-asset liquidity staking protocol Bedrock. Within 50 minutes of opening, the BNB investment round was oversubscribed by 54 times. Against a goal of raising 2,018.53 BNB, the event has already attracted 110,525 BNB in commitments, demonstrating strong investor interest in the new protocol.
2. Bybit CEO: 89% of $1.4 Billion Stolen Crypto Still Traceable Despite Laundering Attempts
Bybit CEO Ben Zhou revealed that 88.87% of the $1.4 billion stolen from the exchange remains traceable, despite the Lazarus Group moving funds through Bitcoin mixers. The stolen assets, initially 500,000 ETH, have largely been converted to 12,836 BTC and distributed across 9,117 wallets. Zhou confirmed that 3.54% of funds have been frozen, while 7.59% have disappeared into the dark web. The attack has elevated North Korea to the third-largest government Bitcoin holder with 13,562 BTC worth over $1.14 billion, behind only the U.S. (198,109 BTC) and UK (61,245 BTC). Zhou admitted Bybit had warnings about security flaws months before the hack, with the company now offering bounties to help track the stolen funds.
3. U.S. Crypto Stocks Decline in Pre-market Trading
U.S. crypto concept stocks experienced a decline in pre-market trading, with the Strategy index dropping by 1.72%. Several key stocks within the sector saw notable decreases, including Coinbase (-1.19%), Voyager (-1.72%), Riot Blockchain (-0.39%), and Marathon Patent Group (-1.36%). The downturn reflects broader investor caution amid regulatory uncertainties and market volatility, as many investors appear to be adopting a more conservative approach to crypto-related stocks.
4. Telegram Reaches 1 Billion Monthly Active Users as TON Game BOMBIE Thrives
Telegram CEO Pavel Durov announced that the platform has officially exceeded 1 billion monthly active users. Meanwhile, TON ecosystem game BOMBIE has reached 11 million users with an average revenue per paying user (ARPPU) of $102, surpassing “League of Legends” to rank first in TON ecosystem revenue. BOMBIE’s global user base includes Japanese players with an average spend of $804 per user, exceeding the average customer spend at luxury brand Louis Vuitton and setting a new record for Web3 games.
5. Ripple CEO Predicts XRP Inclusion in White House Digital Asset Reserves
Ripple CEO Brad Garlinghouse predicts that XRP could be included in the White House’s digital asset reserves. He also expects an XRP exchange-traded fund (ETF) to launch this year, following the success of Bitcoin and Ethereum ETFs. As institutional interest in cryptocurrency grows, Garlinghouse believes XRP is next in line for regulatory approval, though no official plans have been confirmed.
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