Dig Deeper, Invest Smarter
Defi Dev Corp is tokenizing its DFDV stock on Solana, tapping Kraken to collaborate in the rollout. The launch is the first tokenized US-listed crypto treasury stock, merging equity ownership and on-chain finance. DeFi Dev Corp Taps Kraken For Stock Tokenization DeFi Development Corp. has announced a partnership with Kraken to tokenize its DFDV stock
The post DeFi Dev Corp Partners Kraken To Launch First Tokenized Crypto Treasury On Solana appeared first on CoinGape.
Ripple (XRP) price rebounded to $2.59 Tuesday, fueled by $5.5B open interest and SEC Chair, Paul Atkins signalling softer crypto regulation.
Ripple (XRP) gained 1.5% Tuesday to trade near $2.47 after hitting intra-day highs of $2.59, marking a rebound from Monday’s decline. The dip followed a suspension of the US GENIUS act, under congressional scrutiny of potential conflicts of interest involving Ripple-affiliated entities and Donald Trump’s crypto reserve executive order.
Concerns had centered around Dubai-based USD1’s explosive $2 billion valuation, in which Trump-linked investors allegedly held undisclosed stakes.
Ripple’s lobbying ties to the executive order had cast further uncertainty over XRP’s regulatory status, just days after it secured a $50 million final settlement in it long-running case against the US SEC.
However, Tuesday’s speech by SEC Chair Paul Atkins, appointed under Trump, sparked a positive shift in market sentiment.
Atkins emphasized a “collaborative, innovation-forward” approach to crypto regulation, suggesting a lighter compliance burden for compliant firms. Traders responded with renewed optimism, driving XRP’s recovery from a $2.35 low.
The signal of softer regulatory stance from the Trump’s newly appointed SEC chair, helped restore confidence among retail and institutional holders alike.
According to Coinglass data, XRP’s open interest surged 2.7% to $5.49 billion Tuesday, signaling traders are re-entering leveraged positions in anticipation of upward price action.
The increase aligns closely with the spot price rebound, reinforcing the view that capital is rotating back into XRP.
Despite a 43.76% drop in daily derivatives volume to $10.71 billion, the rise in open interest suggests fresh capital inflows despite replacing recent liquidations.
Notably, Binance’s top trader long/short ratio hit 3.00, while the broader long/short ratio (accounts) on OKX reached 2.13, both strongly favouring longs.
Options volume also declined 51.15% to just $2,220, and options open interest dropped 4.45% to under $1 million, perpetual and futures markets remain highly active.
Traders are clearly rotating out of shorter-dated, hedged plays and into more directional long bets.
Across major exchanges like Binance and OKX, long/short ratios among both average and top traders consistently exceed 2.0, a rare alignment that signals shared directional confidence in upside expectations.
If open interest continues rising alongside positive regulatory messaging, XRP could retest $2.70 near-term resistance. Expectations of softer regulations under Paul Atkins and ETF altcoin verdicts expected in June, could propel a run toward $3.00.
XRP continues to demonstrate a strong technical setup as bullish sentiment strengthens above key moving averages and volatility bands.
Currently trading at $2.5664, XRP has broken above all three simple moving averages (SMA 50 at $2.2359, SMA 100 at $2.2320, and SMA 150 at $2.1709), a structure that signals a clear bullish shift in trend direction.
More so, Ripple price is currently holding comfortably above the midline of the Keltner Channel (KC) at $2.3614 and is approaching the upper band at $2.5718, suggesting a breakout continuation may be imminent.
The bullish body candles forming above the KC midline reinforce upward momentum, supported by a rising BBP (Bollinger Band %B) indicator, which currently reads 0.2885.
Based on these key indicators, XRP price forecast today points to a short-term target of $2.70, contingent on the ability to close decisively above the KC upper band resistance.
However, should XRP fail to sustain above $2.57, a temporary retracement toward the 50-SMA near $2.23 cannot be ruled out.
The post Ripple (XRP) Price Analysis: $5.5 Billion XRP Open Interest Signals Positive Reaction to Paul Atkins’ Latest Update appeared first on CoinGape.
H&M’s Fashion Photoshoot Campaign is the Coolest Thing We’ve Seen Now that spring is finally here, it’s time to start…
Summer Mersinger, a pro-crypto Commissioner at the CFTC, will resign on May 30 to become the Blockchain Association’s next CEO. With her absence, the Commission will soon be reduced to three members.
President Trump has already appointed Brian Quintenz as the CFTC’s next Chair. However, his confirmation could take months, and another Commissioner will resign as soon as he gets in. Thus, the CFTC may be understaffed for many months.
The Blockchain Association is an important political advocate for pro-crypto regulation in the US, funding court battles, creating industry connections, and warning of potential threats to the sector.
Today, it announced that Summer Mersinger, one of the CFTC’s five Commissioners, will resign and become its next CEO:
To be fair, Mersinger could do a huge amount of good in this outside advocacy role. The Blockchain Association discussed her enthusiasm for crypto and thorough knowledge of the federal regulatory apparatus, both of which will be powerful assets.
However, between Mersinger and an existing vacancy, the CFTC will soon be short two of its five Commissioners.
Additionally, of the Commission’s current members, Mersinger’s term expires further in the future than any of her colleagues. Acting Chair Caroline Pham, another crypto advocate, won’t reach this limit until 2027, but the other two CFTC Commissioners are technically past their expiration date already.
All this is to say, one of the US’s most important crypto regulators could be severely understaffed soon. To be clear, President Trump has already nominated one replacement, Brian Quintenz.
If Quintenz passes the Senate confirmation process, he’ll become the CFTC’s next Chair. However, this might take a long time.
The approval process for SEC Chair Paul Atkins took months, and the timeline was unclear. Confirmation hearings didn’t happen until April, and it took weeks for him to be sworn in.
Quintenz’ own confirmation process could potentially last into the summer. So far, no hearings, votes, or procedural updates of any kind have been officially scheduled yet.
Furthermore, after Quintenz becomes Chair, the CFTC will need to replace yet another Commissioner. Christy Goldsmith Romero, a crypto-neutral Commissioner whose term already expired, has vowed to resign as soon as Quintenz gets in.
Currently, there don’t seem to be any credible rumors about who will replace her, and the process has not started.
At this rate, the Commission could be severely understaffed for most of 2025. Confirming one new commissioner could take months, and the CFTC will have to start the process over again immediately after that.
To be fair, this isn’t necessarily negative. The Commission will have one pro-crypto Chair and two neutral voices, followed by two pro-crypto members and one neutral Commissioner.
Nonetheless, understaffing is almost certainly going to be a persistent problem. It could negatively impact the CFTC’s ability to enact friendly regulation.
The post CFTC Loses Another Pro-Crypto Commissioner Amid Understaffing Concerns appeared first on BeInCrypto.