Kategorie: Crypto News

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SEC postpones decisions on Polkadot and Hedera ETFs, over 70 filings await clarity

  • The agency would extend the deadline to June 11 to rule on Grayscale’s bid to convert its Polkadot Trust and Canary’s proposal to list a Hedera (HBAR) ETF.
  • A separate delay was also announced for the Bitwise Bitcoin and Ethereum ETF, now pushed to June 10.
  • The delays come as the SEC, under new Chair Paul Atkins, faces a backlog of more than 70 crypto ETF filings.

The US Securities and Exchange Commission has pushed back its decisions on crypto ETF proposals tied to Polkadot and Hedera, amid a broader wave of applications awaiting regulatory clarity.

The agency said Thursday it would extend the deadline to June 11 to rule on Grayscale’s bid to convert its Polkadot Trust and Canary’s proposal to list a Hedera (HBAR) ETF.

It was previously expected to be decided by the end of this week. A separate delay was also announced for the Bitwise Bitcoin and Ethereum ETF, now pushed to June 10.

In its filing, the SEC cited the need for “sufficient time to consider the proposed rule change and the issues raised therein.”

Over 70 ETFs await approval

The delays come as the SEC, under new Chair Paul Atkins, faces a backlog of more than 70 crypto ETF filings.

Applications range from major altcoins like XRP, Solana, and Litecoin to meme coin-themed and leveraged products.

Analyst Eric Balchunas called the ETF queue “wild,” noting the inclusion of everything from “Penguins, Doge, and 2x Melania.”

Atkins, a former commissioner with strong ties to Wall Street, was confirmed on April 21 after a contentious Senate vote.

Acting Chair Mark Uyeda had held off on major rulings, with insiders saying a lack of permanent leadership froze progress.

Under Gary Gensler, the SEC approved spot Bitcoin ETFs in January 2024 and spot Ethereum ETFs in July, following a court decision favoring Grayscale.

Since President Donald Trump began his second term in January, the SEC has signaled a more crypto-friendly stance, hosting industry roundtables and dropping several lawsuits against crypto firms.

Another roundtable, focused on crypto custody, is set for Friday.

BTC ETFs show strong demand

Spot Bitcoin ETFs in the US have staged a remarkable comeback, pulling in $936.43 million in net inflows on Tuesday, April 22—marking their strongest single-day performance since mid-January, according to SoSoValue data.

That momentum held into the next day, with another $916.91 million in inflows logged on April 23.

BlackRock’s iShares Bitcoin Trust (IBIT) was the clear frontrunner, drawing $643.16 million, followed by Ark & 21Shares’ ARKB, which brought in $129.5 million.

The surge extends a four-day streak of inflows topping $100 million—a pattern last seen in late January, during a previous wave of institutional enthusiasm.

The sharp uptick follows a lull in ETF activity that had raised doubts about the durability of institutional interest.

However, the recent rebound has proven consequential, coinciding with Bitcoin’s surge past the $90,000 level.

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Will XRP price explode ahead of CME Group’s futures launch in May?

  • XRP price currently faces downward pressure at a key level.
  • CME Group’s XRP futures launch on May 19, 2025, joining BTC, ETH, and SOL.
  • What does this mean for the XRP price?

CME Group’s addition of XRP futures to its existing lineup—alongside Bitcoin, Ether, and Solana—underscores rising institutional interest in the digital asset and cements its role in the evolving crypto derivatives market.

However, with XRP currently facing bearish pressure at a key level and neutral market sentiment, will this development ignite a price surge, or will caution prevail?

CME Group’s XRP futures and Ripple price

Ripple’s XRP is one of the top cryptocurrencies in terms of overall gains in the past year.

Multiple catalysts, including the conclusion of the legal tussle with the US Securities and Exchange Commission (SEC), have helped the XRP price.

Now, the announcement of CME Group’s XRP futures launch on May 19, 2025, has sparked excitement.

CME Group’s introduction of cash-settled XRP futures, based on the CME CF XRP-Dollar Reference Rate, offers institutional investors a regulated avenue to gain exposure to XRP.

Available in micro (2,500 XRP) and standard (50,000 XRP) contract sizes, these futures cater to diverse trading strategies, potentially boosting liquidity and price stability.

Ripple CEO Brad Garlinghouse says it’s a major milestone.

Giovanni Vicioso, CME Group’s Global Head of Cryptocurrency Products, highlighted growing institutional and retail adoption of XRP and its underlying ledger (XRPL), suggesting the futures launch responds to rising demand for risk management tools.

Historically, CME’s futures for Bitcoin and Ether have drawn significant institutional interest, often stabilizing prices over time while occasionally sparking short-term volatility.

For XRP, the futures could attract new capital, but the bearish technicals and neutral RSI suggest a breakout may hinge on broader market strength or positive developments in XRP’s ecosystem.

While the launch is a bullish signal, immediate price explosions are uncertain, with sideways consolidation likely unless momentum shifts.

Investors should monitor support levels and market trends closely, maintaining a neutral bias with a slight bearish tilt for now.

XRP price analysis

XRP’s current price action paints a cautious picture.

XRP chart by TradingView

At $2.21, down 1% in the last 24 hours, XRP currently hugs the upper Bollinger Band.

Meanwhile, price has bounced off the midline, indicating resilience under pressure.

The Relative Strength Index (RSI) at 55 and the Moving Average Convergence Divergence (MACD) show a bullish crossover.

However, the lack of robust momentum tempers expectations for an immediate rally.

Short-term sentiment leans bullish, though, with key support levels at $2.00 and $1.85 and major resistance at $2.5 and $3.

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Tether raises Juventus stake above 10%

  • Tether Investments S.A. de C.V.—the investment arm of the crypto firm—now holds a 6.18% voting stake in Juventus.
  • Tether initially acquired an 8.2% stake in the Italian football giant in February.
  • The stablecoin giant, which posted a $13 billion profit last year, has been deploying capital across a range of sectors.

Tether, the issuer of the world’s largest stablecoin, has expanded its stake in Juventus Football Club to more than 10%, deepening its involvement with one of Europe’s most storied football institutions.

The move underscores Tether’s broader investment strategy that spans digital assets, media, and now, elite sports.

Tether Investments S.A. de C.V.—the investment arm of the crypto firm—now holds a 6.18% voting stake in Juventus, giving it a combined equity interest exceeding 10%.

Tether initially acquired an 8.2% stake in the Italian football giant in February.

Juventus, founded in 1897 and with 36 Italian league titles to its name, remains a powerhouse in both Italian and European football.

The club’s ownership structure now includes Tether as a key shareholder, placing it in a position to influence strategic direction.

Tether CEO Paolo Ardoino framed the investment as a long-term strategic partnership rather than a simple capital deployment.

“We believe Juventus is uniquely positioned to lead both on the field and in embracing technology that can elevate fan engagement, digital experiences, and financial resilience.”

The company also expressed willingness to participate in future capital infusions to preserve and enhance its ownership position.

Tether’s broader investment activity

The Juventus deal is part of a broader wave of investments by Tether.

The stablecoin giant, which posted a $13 billion profit last year, has been deploying capital across a range of sectors, including artificial intelligence, bitcoin mining, and agriculture.

The firm recently partnered with SoftBank, Bitfinex, and Cantor Fitzgerald’s Brandon Lutnick to form a $3 billion crypto acquisition vehicle.

It has also ramped up its presence in Bitcoin mining, deploying hashrate to Ocean’s mining pool and purchasing 8,888 BTC in the first quarter of 2025.

Tether’s Bitcoin holdings now stand at 95,721 BTC, worth roughly $8.89 billion, according to Arkham Intelligence.

Beyond crypto, Tether is making moves in media and digital content. It recently invested €10 million in Italian media firm Be Water and injected $775 million into Canadian video platform Rumble, which has since integrated Tether’s USDT wallet support.

While some analysts point to Tether’s recent investment spree as a hedge against US dollar weakness amid global macroeconomic shifts and rising protectionism, others see it as a calculated bid to secure influence across decentralized finance, infrastructure, and consumer engagement platforms.

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Mantle price outlook amid $400M anchor investment in MI4 Fund

  • Mantle has announced a new Index Four Fund (MI4) with Securitize as tokenization partner.
  • Mantle Treasury is the anchor investor, committing $400 million to the venture.
  • With this development, what’s the price outlook for $MNT?

Mantle ($MNT), the native token of the Mantle ecosystem, is drawing attention following a significant $400 million anchor investment from Mantle Treasury into the Mantle Index Four (MI4) Fund.

This institutional-grade fund, launched in partnership with Securitize, aims to bridge traditional and decentralized finance.

Mantle’s MI4 Fund will offer diversified exposure to major cryptocurrencies like Bitcoin (50%), Ethereum (26.5%), Solana (8.5%), and stablecoins (15%).

The fund’s tokenization feature enables on-chain liquidity and composability, positioning MI4 as a potential “S&P 500 of crypto.”

New fund boosts Mantle’s ecosystem appeal

The MI4 Fund, backed by Mantle Treasury’s substantial commitment, could be a massive venture and game-changer for the ecosystem.

Approved via a governance proposal by the Mantle DAO, the $400 million investment provides seed capital to enhance initial assets under management (AUM) and liquidity.

The fund’s focus on yield-bearing tokens like mETH, bbSOL, and sUSDe offers investors staking returns, appealing to both crypto-native and traditional investors.

Mantle’s broader ecosystem, including Mantle Network and mETH Protocol, continues to drive scalability and capital efficiency, with over $2 billion in total value locked (TVL).

This robust infrastructure, coupled with the MI4 launch, strengthens Mantle’s position as a leader in on-chain finance, potentially increasing demand for MNT as a governance and utility token.

Mantle price performance and prediction

In the past 24 hours, $MNT has traded to highs of $0.70, up from lows of $0.68.

The gains have come amid the partnership news, with bulls recovering from -2.7% to about +1% at the time of writing.

Over the past week, MNT has traded flat, while extending a 16% decline over the past month. Technically, the token is now testing its 100-day moving average as a support level.

A successful hold above this threshold could open the door for a short-term rebound, with potential upside targets near $0.78 and $0.83.

Long-term, analysts are optimistic, with some projecting a breakout to $5 if $MNT clears the $1.40 resistance, forming an ascending triangle on the weekly chart—a potential 7x gain from current levels.

The MI4 Fund’s institutional backing and Mantle’s ecosystem growth could catalyze this rally, though macroeconomic factors and crypto market sentiment remain key variables.

The $400 million investment in MI4 underscores Mantle’s ambition to redefine decentralized finance.

While short-term price fluctuations persist, the token’s fundamentals and technical setup suggest a promising outlook for $MNT in 2025.

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Shaquille O’Neal reaches settlement in FTX lawsuit

  • O’Neal was among several high-profile celebrities and athletes accused of endorsing FTX.
  • Other celebrities named in similar legal actions include NFL quarterback Tom Brady, supermodel Gisele Bündchen.
  • This is O’Neal’s second high-profile crypto-related settlement in recent months.

Shaquille O’Neal has reached a confidential settlement with investors who alleged losses tied to the collapse of cryptocurrency exchange FTX, according to an April 23 filing in the US District Court for the Southern District of Florida.

The terms of the agreement remain confidential, with specific details expected to be disclosed once plaintiffs file for preliminary court approval.

O’Neal was among several high-profile celebrities and athletes accused of endorsing FTX and allegedly contributing to investor losses through promotional activity prior to the exchange’s bankruptcy.

The lawsuit is part of a broader multidistrict litigation seeking up to $21 billion in damages from FTX insiders, advisers, and promoters—an amount that far exceeds the $9.2 billion expected to be available through the ongoing bankruptcy process.

Celebrity promoters under scrutiny

Other celebrities named in similar legal actions include NFL quarterback Tom Brady, supermodel Gisele Bündchen, investor Kevin O’Leary, former NBA player Udonis Haslem, baseball legend David Ortiz, and tennis star Naomi Osaka.

All were accused of lending credibility to FTX in promotional campaigns, allegedly misleading retail investors.

O’Neal initially drew headlines in the case for evading service of legal documents, with plaintiffs’ attorneys accusing him of “running from the lawsuit.”

Legal teams reportedly spent months attempting to serve him, even attempting delivery during NBA broadcasts and at his residences.

Settlement follows NFT legal resolution

This is O’Neal’s second high-profile crypto-related settlement in recent months.

He recently agreed to pay $11 million to resolve a class-action lawsuit concerning his role in promoting the Astrals NFT project, a Solana-based initiative featuring 10,000 NFTs, a metaverse called Astralworld, and a governance token known as Galaxy.

That lawsuit alleged the NFTs were unregistered securities and that O’Neal misled investors through his endorsements.

He was served in that case during a May 2023 NBA playoff game at Miami’s Kaseya Center—formerly named FTX Arena.  

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