The U.S. Senator for Massachusetts, Elizabeth Warren, has cracked down on billionaire Elon Musk, aka D.O.G.E (Department of Government Efficiency) lead, regarding his federal duties. A recent X post by the Senator revealed that Warren introduced a new bill to relieve Musk of his government role alongside other SGEs (Special Government Employees).
Elizabeth Warren Introduces Bill Seeking Ethical Government Functioning; Clamps Down on Musk & SGEs
Senator Elizabeth Warren criticized how unelected billionaire Elon Musk makes $8 million a day leveraging his government role while he’s at it. In her X post on April 14, the Senator said, “Musk should not be acting as co-president of the U.S. and making” such a ridiculous amount from it.
“My new bill would crack down on conflicts of interest for Elon Musk and all Special Government Employees,” she added. Reportedly, this new legislative push is led by Sen. Warren, D-Mass, and Rep. Melanie Stansbury.
It’s noteworthy that Sen. Warren and others introduced the new bill in the Senate and House this week. Its primary aim is to prevent SGEs like Elon Musk (who lead companies worth $1 billion or more) from functioning within such federal agencies.
Notably, these federal agencies are also known to interact with Musk’s companies, such as SpaceX and Tesla. Reports from across the globe reveal that both firms collectively received billions of dollars via government contracts over the past decade.
In turn, Sen. Elizabeth Warren introduced a new bill aiming to crack down on the abovementioned feat. Besides, an official reply by the American billionaire remains much awaited regarding this development.
On the other hand, CoinGape recently reported that Warren called for an investigation into Trump’s tariffs flip-flopping, deeming it to be a market manipulation move. She even blamed Trump for crashing the U.S. economy with his tariffs chronicle.
Nationwide masses are currently left speculating whether the bill’s approval could trigger a negative sentiment, given that the Tesla lead has already aided the U.S. government in saving billions to date.
Solana has emerged as a powerful presence in the crypto industry. Since its inception in 2020, the network has dominated the market, demonstrating remarkable levels of user engagement and practical utility, particularly in decentralized finance (DeFi). Many in the industry view it as the next natural contender to receive an ETF approval in the United States.
However, others are more cautious in their evaluations. BeInCrypto spoke with representatives from Gravity, Variant, and OKX to understand the areas where Solana is still lacking. Industry leaders referred to centralization, network reliability, and excessive regulation as points of contention for Solana’s ETF approval.
Bitcoin and Ethereum’s Precedent
The availability of exchange-traded funds (ETFs) for prominent cryptocurrencies has grown over the past year. These funds offer investors diversified investment opportunities and act as a bridge between traditional finance and the increasingly mainstream cryptocurrency market.
Meanwhile, the deadline for some filings, including Grayscale’s, was extended until October. Nonetheless, posts on X and some analytical reports suggest yesterday’s deadline as a date of interest for an initial or consolidated SEC response to several applications.
2025 Predictions and Market Expectations
The tentative approval of a Solana ETF has generated much debate across social media platforms. ETF President Nate Geraci formally predicted that 2025 would be the year of crypto ETFs and that Solana would receive its approval this year.
Per previous reports, former Trump White House Secretary Anthony Scaramucci expressed that, with a Trump reelection, Solana ETFs could gain approval during Q1 of 2025. According to his predictions, Solana would receive the SEC’s green light during the next two weeks.
Meanwhile, the prediction market Polymarket estimates an 82% chance that a Solana ETF will get approved in 2025.
According to a Polymarket poll, Solana has an 82% chance of getting an ETF approval in 2025. Source: Polymarket
Several factors make an imminent Solana ETF approval seem plausible. Less than five years after the network launched, Solana quickly became a major player in the crypto industry, attracting users for its high transaction speeds and low gas fees.
“From a network perspective, Solana’s performance has been remarkable, now driving nearly 50% of all global DEX volume– a dominance that fundamentally reshapes the DeFi landscape. The blockchain is not just handling unprecedented transaction volumes… it’s transforming our understanding of blockchain scalability at scale,” Lennix Lai, Global Chief Commercial Officer at OKX told BeInCrypto.
Solana has established itself as a dynamic force in the crypto industry following a successful 2024.
A Messari report detailed particular growth in Solana’s final quarter across DeFi, liquid staking, NFTs, and institutional involvement. The total value locked (TVL) in Solana’s DeFi sector increased substantially, growing by 64% to $8.6 billion, which placed it behind Ethereum as the second-largest network based on TVL.
Solana’s positive performance, coupled with Donald Trump’s reelection to the US presidency, further amplified the crypto industry’s optimism over an ETF approval.
However, some industry experts have expressed more tempered expectations.
Experts Offer Tempered Expectations
A few days before Trump assumed the presidency, Bloomberg Intelligence analyst James Seyffart said Solana ETFs may not be launched in the US until 2026. He cited the SEC’s precedent of taking a lot of time to review filings as the cause for delay.
In another post, Bloomberg Senior ETF analyst Eric Balchunas said that ETF approvals for other cryptocurrencies were more likely to occur before Solana.
“We expect a wave of cryptocurrency ETFs next year, albeit not all at once. First out is likely the BTC + ETH combo ETFs, then prob Litecoin (bc its fork of btc = commodity), then HBAR (bc not labeled security) and then XRP/Solana (which have been labeled securities in pending lawsuits),” Balchunas said.
Balchunas further explained that complex legal issues around Solana, relating to its status as a security, need to be resolved before it can gain ETF approval. Consequently, he deemed the approval of Litecoin or Hedera ETFs more likely.
Uncertainty over whether Solana classifies as a security is a major driver fueling doubts over its ETF approval.
Security Classification Concerns
Martins Benkitis, co-founder and CEO of Gravity, explained that Solana’s regulatory classification complicates its path to approval.
“It’s no secret there’s currently a lack of precedent for Layer-1 blockchains beyond Bitcoin and Ethereum in the ETF space, this suggests cautious optimism but with higher regulatory hurdles. Bitcoin, being a commodity in the SEC’s eyes, and Ethereum’s gradual transition to PoS had different legal considerations. Solana, on the other hand, faces concerns over potential classification as a security due to its token distribution and foundation’s involvement,” Benkitis told BeInCrypto.
The SEC identified Solana as a security in lawsuits against Binance and Coinbase over the past two years, although these lawsuits have since been dropped. The SEC argued that these tokens could be considered investment contracts under the Howey Test.
While some interpreted the SEC’s lawsuit withdrawal as a softening stance on Solana’s security classification, others quickly challenged this assumption.
“There is no reason to think [the] SEC has decided SOL is a non-security. That they don’t want to do discovery on a dozen tokens in the Binance case appears to be a litigation tactic, not a change in policy,” said Jake Chervinsky, Chief Legal Officer at Variant, following the Binance lawsuit withdrawal in July 2024.
Others believe that a pro-crypto administration should be enough to influence the SEC to consider Solana as a non-security. Lai disagrees.
“The changing political landscape, particularly with Trump’s victory and pro-crypto stance, could create a more constructive environment for innovative blockchain platforms like Solana. However, the technical and market structure considerations will remain crucial regardless of administration changes,” he said.
In the meantime, there are several other requirements Solana must meet.
On his part, Lai added other aspects to the list of considerations.
“While Polymarket shows high odds for 2025 approval, several critical factors suggest a more complex pathway: Solana’s technological architecture presents unique challenges with its PoS mechanism; The absence of CME futures raises liquidity and risk management concerns; Historical network downtime incidents need addressing; Centralization questions relative to BTC and ETH remain unresolved; Institutional interest hasn’t matched BTC and ETH levels despite the network driving 48% of global DEX volume; [and] the temporary nature of trending themes suggests caution in using current volumes as primary indicators,” Lai told BeInCrypto.
Concerns about centralization and scalability have long been discussed regarding Solana, even outside of discussions over an ETF approval.
Since 2021, Solana has suffered over a dozen network outages varying in severity. These outages have jeopardized the network’s reputation as stable and reliable– two strongly considered characteristics during the ETF approval process.
“From a market making standpoint, network reliability is crucial as any downtime or congestion can significantly impact trading operations and order execution,” Benkitis affirmed.
However, Solana has successfully curbed the number of outages it has experienced. Once notorious for the frequency of its shutdowns, the last time Solana experienced one was in February 2024.
Meanwhile, developers designed Solana’s upcoming Firedancer validator client to improve network stability and transaction processing. Its distinct codebase offers greater resilience against widespread outages and will enhance Solana’s performance.
Yet, Solana must also mitigate centralization concerns to improve its chances of obtaining ETF approval.
Centralization Concerns
Solana’s validator node requirements, which demand significant hardware investments, can create barriers to entry. These obstacles can potentially concentrate power within the network among those capable of affording the necessary infrastructure.
In turn, the protocol’s limited number of validators compared to other networks raises concerns over centralization. For context, while Solana currently has around 2,000 active validators, Ethereum passed the one million benchmark last year—the largest number recorded by any blockchain network.
Though Solana’s hardware reliance speeds up the network, it also raises decentralization concerns. Benkitis factored this aspect into his evaluation of an ETF approval.
Its currently underdeveloped futures market infrastructure further complicates Solana’s viability as an ETF candidate.
Its filings were unprecedented because the network did not have a previously established futures market. This factor was crucial in determining an ETF approval for Bitcoin and Ethereum.
“The lack of CME futures and institutional frameworks comparable to BTC/ETH could influence [the SEC’s] evaluation,” Lai said.
He added that the proliferation of meme tokens minted on Solana could present themselves as a potential roadblock.
“Market reactions reflect Solana’s emergence as the primary driver of this cycle, with DEX volumes exceeding $100 billion and dominating major aggregators. However, I believe the temporary nature of trending themes suggests continued volatility. While technological advancement and growing institutional adoption may provide stronger foundations, we need to maintain perspective on the cyclical nature of crypto trends,” Lai said.
This more recent development in Solana’s attraction also brings its set of downsides.
Meme Coin Influence and Regulatory Concerns
The expanding meme coin market on Solana partially explains its popularity. Platforms like Pump.fun allow anyone to launch their tokens, and this design has even led to celebrities launching their tokens on the platform.
More recently, political figures like Donald Trump and Argentine president Javier Milei have also launched meme tokens on Solana platforms. Yet, these activities have proven to be high-risk. In many cases, meme coin investments have caused smaller retailers millions of dollars in losses.
Benkitis said that the SEC might frown upon the speculative nature of these trading activities.
“While an ETF approval could unlock liquidity opportunities, the market’s heavy dependence on speculative sentiment calls for a measured and cautious approach,” he said.
With so many considerations, approving a Solana ETF in 2025 is far from guaranteed. The SEC’s eventual decision will be a defining moment for the network and the broader crypto industry.
The crypto market sentiment has bounced from fear to neutral as Bitcoin and most altcoins recover. Amid this recovery, traders are frantically looking for the best crypto to buy to secure significant returns and possibly make 10x gains within weeks. In this article, we explore the best 3 altcoins with a strong bullish outlook and robust fundamentals that traders can invest in today.
Best Crypto to Buy Right Now For Massive Gains
The best crypto to buy right now for massive gains in the coming weeks are Solana (SOL), Dogecoin (DOGE), and Shiba Inu (SHIB). Besides flashing bullish technical indicators, these top altcoins have some strong fundamentals that can sustain a long-term uptrend, possibly to all-time highs.
Solana (SOL)
Solana is the best crypto to buy now, as the positive market sentiment teases at a price rally to $300. As a recent Coingape article reported, BlackRock has expanded its $1.75B tokenization fund to the Solana blockchain to leverage its fast speeds and low transaction costs. Additionally. Fidelity has filed to have its spot SOL ETF listed on the Cboe exchange.
The rising interest from Wall Street is among the reasons why traders should consider buying the SOL altcoin right now. Meanwhile, the one-day Solana price chart indicates that the momentum is shifting to bullish.
The RSI has risen to 52, its highest level since early February. This indicates that selling pressure is no longer dominating the price action as buyers take control. At the same time, the MACD line is rising while the histogram bars are flashing green, which also shows a bullish Solana price prediction.
SOL/USDT: 1-day Chart
The strong technical outlook and institutional adoption indicate that Solana is the best crypto to buy now as it shows signs of surging to an all-time high near the $300 psychological level.
Dogecoin (DOGE)
Dogecoin has outperformed all the other top-ten largest cryptos by market cap in the last week making it one of the best crypto to buy. This top meme coin trades at $0.20 today with an 8% gain in 24 hours. Dogecoin price is also up by 19% in seven days.
One of the factors driving these gains is whale activity. In the last two weeks, whales have accumulated 200M DOGE, suggesting optimism that the meme coin could lead the broader crypto market recovery.
The derivatives market data also suggests that traders are anticipating a major price move. At press time, derivative trading volumes had surged by 35%, while open interest soared by 13% in 24 hours to $2.16 billion. This marks its highest level in one month.
Dogecoin Open Interest
As open interest rises when the price also increases, it supports a bullish outlook and suggests that DOGE is one of the top altcoins to buy.
Shiba Inu (SHIB)
Shiba Inu is expanding its presence in the decentralized finance (DeFi) industry, making SHIB one of the best crypto to buy. Recently, the SHIB development team revealed that trading volumes on ShibaSwap have surged by 238% in 30 days, making it one of the fastest-growing DEXs.
Shiba Inu marketing lead LUCIE has also teased the launch of Shib Finance, to bolster DeFi activity. This launch will bode well for the Shiba Inu price, which could surge to all-time highs.
The daily chart shows that bulls are now in control. SHIB price has flipped the 50-day EMA confirming a bullish reversal. The RSI has also made a sharp rise to its highest point since December 2024. This setup suggests SHIB could reach the 200-day EMA of $0.0000179 soon, making it a top altcoin to buy.
SHIB/USDT: 1-day chart
Summary of Best Crypto to Buy
The crypto market is showing signs of a bullish recovery as trader sentiment shifts from fear to neutral. Amid this shift, the three crypto to buy to secure significant returns are SOL, DOGE, and SHIB. These coins have some strong fundamentals and a bullish technical setup.
