crtypto & forex news

Crypto pundit Pumpius has revealed how the CLARITY Act represents a “massive” win for XRP with key provisions to protect its ecosystem. He also alluded to another recent development, which will enable the altcoin to take over the global financial system .  Pundit Highlights CLARITY Act As A Major Win For XRP In an X post , Pumpius alluded to section 604 of the CLARITY Act as a massive win for XRP. The section focuses on the Blockchain Regulatory Certainty Act , which protects crypto developers. He noted that if someone builds an open-source blockchain software and does not control users’ funds, then they will not be classified as a money transmitter.  Furthermore, these developers won’t have any obligations to the FinCEN or be subject to federal criminal law or state registration rules. Pumpius declared that writing code is not money transmission, nor is building self-custody tools or running nodes. As such, this is expected to build the confidence of developers in the XRP Ledger ...

A parliamentary ethics probe is now underway and focused on Nigel Farage, leader of the UK’s Reform Party, after reports surfaced that the government official bought a $1.8 million property weeks prior to entering office — a purchase made possible, at least in part, by a $6.7 million personal gift from a crypto billionaire. A Gift Before The Campaign The property, with a market value of roughly 1.4 million British pounds, was acquired in May 2024. The timing was significant. According to Sky News, the deal closed just weeks before Farage publicly disclosed he was running for parliament in the general elections. The gift — 5 million pounds — came from Christopher Harborne, a British crypto billionaire. Farage has described it as a personal gift, not a political donation. Farage and the Reform Party say no rules were broken. Their argument rests on timing: because the money changed hands before Farage took office, they say it falls outside the reporting requirements that appl...

Hana Financial Group, one of South Korea’s four largest banking conglomerates, announced on May 15 that its flagship Hana Bank has approved the purchase of a 6.55% stake in Dunamu — the operator of Upbit, South Korea’s dominant crypto exchange — from Kakao Investment for approximately 1 trillion Korean won, equivalent to roughly $670 million, marking the largest single investment ever made by a South Korean bank into a digital asset company. The deal, disclosed in a regulatory filing the same day the Hana Bank board approved it, will make Hana Financial the fourth-largest shareholder in Dunamu, per Korea Herald reporting. The current shareholder structure places founder and Chairman Song Chi-hyung at 25.51%, Vice Chairman Kim Hyoung-nyon at 13.10%, and Woori Technology Investment at 7.2%. Kakao Investment, currently the third-largest shareholder, will retain approximately 4% after the transaction closes. Beyond The Equity: What The Partnership Covers The investment is no...

Solana is seeing renewed interest from institutional investors, who appear to have flipped bullish on SOL again. This follows the record inflows that the SOL ETFs have recorded since the start of this month, which have pushed the altcoin to a four-month high.  Solana Sees Fresh Inflows From Institutional Investors According to SoSoValue data , Solana ETFs have recorded a total net inflow of $90 million since the start of the month, higher than their net inflows over the past three months. Notably, these funds saw total inflows of $26 million on May 11, which is the highest daily net inflow since February 25.  The Solana ETFs now boast total net assets of $1.02 billion, which represents almost 2% of SOL’s market cap . Meanwhile, renewed inflows into these funds pushed SOL to a four-month high of around $97, with the altcoin now eyeing a push toward the psychological $100 level. However, derivatives data paint a mixed signal about the sentiment towards SOL at the moment.  CoinGlas...

A separate poll released Friday by HarrisX found that 47% of registered voters said they would consider crossing party lines to support a candidate who backed crypto regulation legislation — a figure that stands in sharp contrast to new data showing crypto barely moves the needle for most Americans when they head to the polls. The Lobbying Machine Behind The Legislation The Politico survey , conducted by polling firm Public First and covering 2,035 US adults, found that only 4% of respondents would factor a candidate’s position on crypto into their voting decision. Affordable housing topped the list of issues voters want Congress to address, followed by consumer fraud protection and lower bank fees. Crypto regulation came in last. That gap between voter priorities and industry muscle is hard to ignore. Crypto lobbies spent more than $130 million during the 2024 elections — more than any other industry — and have already committed $320 million to shape the upcoming November...

The crypto market is facing its most significant regulatory test in years as the US Senate Banking Committee prepares to vote on the CLARITY Act today, Thursday, May 14. The markup session that will determine whether the most comprehensive digital asset legislation in American history advances toward a full Senate floor vote begins with bipartisan negotiations having collapsed overnight — leaving the outcome considerably less certain than it appeared just days ago. Eleanor Terret reports that a small group of senators working to bring Democrats on board with at least two outstanding issues wrapped their negotiations late Wednesday night without reaching a deal. The talks had been the last realistic opportunity for the CLARITY Act to enter Thursday’s markup with meaningful bipartisan support. They ended without it. Senator Lummis, one of the lead Republican negotiators, issued a statement that captured both the proximity to resolution and the frustration of falling short. Agree...

At the beginning, Bitcoin , the largest cryptocurrency asset by market cap, was particularly common among retail investors who saw the coin as a speculative asset rather than an actual store of value. However, years later, the cryptocurrency has become a major target for large firms, acquiring the asset at a significant rate. Institutional Bitcoin Holdings Reach New Scale Despite being labeled as a highly volatile asset, Bitcoin continues to see major interest and adoption across the dynamic cryptocurrency sector. One interesting part about this development is the notable interest from big firms in the crypto and financial sectors, who steadily purchased the leading asset. Over the years, institutional participation in Bitcoin has grown significantly, turning the asset from a specialized digital experiment into a well-known part of contemporary financial portfolios. This accumulation by corporations , asset managers, and financial institutions points to growing conviction in the as...