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Senate lawmakers are deep in discussions over the GENIUS Act, a bill that’s currently facing a long list of proposed changes. If they succeed, the bill could be brought to the Senate floor by the end of this week. Senate Negotiates Over 60 Amendments to GENIUS Act According to respected journalist Eleanor Terrett on X,
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US President Donald Trump is cranking up the pressure for Fed Chair Jerome Powell to lower interest rates, but questions of a dismissal are out the window. President Trump’s latest stance is a 360-degree change from his previous posturing, hinting at a dismissal of the Fed Chair.
According to a Bloomberg report, President Donald Trump has abandoned plans to terminate Jerome Powell’s appointment as Fed Chair. Trump disclosed in a recent speech that he has “no intention of firing” Jerome Powell despite the refusal to lower interest rates.
Trump’s latest comments come on the heels of a previous statement hinting at potential dismissal for the Fed Chair. At the time, Donald Trump disclosed that the Fed Chair’s “termination cannot come fast enough” after tagging Powell a loser.
However, barely a week following the comments, Trump is making a U-turn that will see Jerome Powell see out his tenure. Despite previous statements hinting at a dismissal, US traders are betting against Powell’s removal on Polymarket.
On the other hand, Powell has maintained a stoic stance amid chatter around his potential removal as Fed Chair. Powell argues that the US president is not permitted by law to dismiss a Fed Chair, a claim that has since generated a flurry of legal debate.
While Trump has set aside plans to dismiss Powell, the US President seized the moment to call for interest rate cuts. Donald Trump urged the Fed Chair to be flexible in his stance during the swearing-in of new SEC Chair Paul Atkins.
“I would like to see him be a little more active in terms of his idea to lower interest rates,” said Trump. “It is a perfect time to lower interest rates.”
Trump has warned of a slowing economy if the Fed refuses to cut interest rates. According to Donald Trump, the EU has cut interest rates seven times while Powell is yet to act amid a brewing global tariff war.
While the Fed cut interest rates three times in 2024, Jerome Powell is dragging his feet over the matter, citing the need to proceed with caution in the face of Trump’s uncertain trade policies.
If the Federal Reserve yields to Trump’s demands, Bitcoin and other cryptocurrencies are tipped to rally. Lower interest rates will trigger an inflow of capital into risk assets like Bitcoin, while a weak USD will make cryptocurrencies an attractive alternative.
Previously, the cryptocurrency market has rallied in the wake of Donald Trump’s criticism of Jerome Powell. Following the shelving of dismissal plans, crypto prices are in the green with Bitcoin trading as high as $93,000.
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Crypto exchange Gemini has listed Ripple’s stablecoin, RLUSD, for trading. The move was confirmed in a recent announcement by the exchange, stating that deposits and withdrawals are now enabled for the asset.
According to an X post, crypto exchange Gemini has enabled trading, deposits, and withdrawals for RLUSD. The announcement follows a cryptic message earlier in the day that drew attention from the XRP community due to a coded reference to RLUSD.
The message included a stylized sentence—“futures are brighteR when we buiLd Up System that upgraDe finance”—with specific capitalization of the letters “R, L, U, S, D.” This acrostic has led users and analysts to believe the post was an intentional nod to Ripple’s dollar-backed stablecoin.
Digital asset commentator Amelie shared the post on social media, stating, “Gemini seems to be subtly acknowledging RLUSD.” While Gemini has not officially confirmed whether the embedded message was intentional, RLUSD’s listing now brings the total number of exchanges offering the token to 15.
Before its listing on Gemini, RLUSD was already available on several digital asset platforms. These include Uphold, Moonpay, B2C2, Keyrock, Coinmena, Archax, Bitso, JST Digital, Independent Reserve, Bullish, MB, Zero Hash, Revolut, and Bitstamp.
Ripple’s website confirms that these platforms support RLUSD for a range of financial services. These include trading, payments, and broader financial utility for both retail and institutional users. With the addition of Gemini, RLUSD’s availability now covers more geographical regions and user bases.
By expanding exchange support, Ripple aims to make RLUSD accessible to users involved in different use cases. These include cross-border transactions, stablecoin custody, and crypto-to-fiat conversions.
On May 5, 2025, Ripple announced a $25 million donation in RLUSD to benefit public education across the United States. The donation will be distributed through DonorsChoose and Teach For America. These nonprofits support K–12 classrooms and teacher training programs in underserved communities.
The funds are being used to buy school supplies, digital tools, and classroom technology. Teachers will also receive direct support to improve educational delivery. Ripple stated that this move is part of its ongoing commitment to promoting financial literacy and equitable access to education.
A representative from Ripple said, “We’re proud to partner with these organizations and help support thousands of classrooms with RLUSD.” The use of the stablecoin in philanthropic efforts also serves to demonstrate its functionality outside of trading platforms.
Ripple has integrated RLUSD into its enterprise payment product, Ripple Payments. The stablecoin will be used by select financial institutions to streamline cross-border treasury operations. This aims to increase the reliability and speed of cross-border payment processing amid the increasing calls for stablecoin regulations.
Ripple also announced the acquisition of Hidden Road, a prime brokerage firm, for $1.25 billion in April 2025. According to Ripple, RLUSD will be used as collateral within Hidden Road’s trading and settlement services for institutional clients.
This acquisition is seen as part of Ripple’s broader push into institutional finance. The firm plans to expand RLUSD’s role in professional trading and brokerage services by embedding it into risk management and liquidity strategies.
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The Cardano price rally required for ADA to flip USDC hinges on a potential breakout past the psychological level of $1, assuming its circulating supply of 35.32 billion tokens remains unchanged. Based on this supply, ADA would need to reach a price of $1.755, representing approximately a 132% gain in market cap from the current levels. At press time, Cardano’s price trades at $0.7604 and currently holds the ninth position among the ten largest cryptocurrencies by market capitalization, presently valued at $26.73 billion. Meanwhile, USDC, Circle’s flagship stablecoin, which ranks seventh, boasts a $61 billion market cap. Cardano Price Impact if ADA Flips Circle’s USDC Cardano (ADA) price must rally to a price of $1.755 to achieve a market cap equal to or greater than USDC’s. A move to this price level would represent a 132% surge from ADA’s current price of $0.7604. Historically, ADA has experienced bigger rallies, indicating… Read More at Coingape.com
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