Top House Democrats are pressing the Treasury Department to release all suspicious activity reports related to Donald Trump’s crypto ventures, Elon Musk’s America PAC, the GOP fundraising platform WinRed, and several alleged scam PACs. The May 14 letter, signed by…

Democrats demand treasury reports on Trump crypto, Musk PAC

Coinbase&#8217;s strategic acquisitions could significantly enhance its market 
position and influence in the evolving crypto industry landscape.
The post Coinbase is still open to more acquisitions after $2.9B Deribit deal, 
says CEO Brian Armstrong appeared first on Crypto Briefing.

Coinbase is still open to more acquisitions after $2.9B Deribit deal, says CEO Brian Armstrong

Solana’s native token is extending an impressive May run that has already 
carried the market-cap leader among non-EVM smart-contract platforms from $146 
at the end of April to as high as $18” in Wednesday trading, the highest daily 
close recorded since mid-February. Against that backdrop, independent analyst 
More Crypto Online (MCO) released a fresh video update outlining why the move 
is technically “very full but not necessarily overextended or overstretched.” 
In the clip, MCO reiterates that the advance from the 30 April swing low 
traces out “a five-wave pattern” and stresses that, because “there was no 
confirmed top, one more high was still likely especially as long as this 
micro-support area held.” The micro zone he referenced earlier in the week lay 
between $159.67 and $168.23, a range Solana tested briefly before powering 
higher. Solana Could Surge To $360 Zooming in, the channel’s Elliott-wave 
count now shows five clean waves even on what MCO calls “the nano level,” a 
configuration that, in classical wave theory, typically finishes either an 
impulsive first wave or the terminating leg of a diagonal. “If it’s a five- 
wave move, it can be a so-called A-wave,” the analyst explains, which would 
“result in a B-wave, ideally a higher low, and then a C-wave up.” The 
alternative—and MCO’s preferred scenario—treats the structure as wave 1 of a 
much larger impulse that could ultimately “easily get to $360 or higher.” 
Related Reading: Solana Network Activity Grows As 11M Wallets Now Hold 0.1 SOL 
Or More – Analyst For traders trying to calibrate risk in the near term, MCO 
isolates two numbers that matter most. On the upside he names $191.25 as “the 
next upside level to watch,” describing it as the 61.8 percent extension of 
waves 1 and 3—a textbook Fibonacci target for a fifth wave. On the downside he 
warns that “it takes a break below $172, which is the last swing low, to 
indicate that a price top has formed in wave 1.” In a follow-up post on X he 
put it even more succinctly: “5th wave to the upside is confirmed. $191.25 is 
the next upside level to watch … it takes a break below $172 … to indicate 
that a price top has formed.” Related Reading: Solana Rallies Into Pivotal 
Zone – $180 Level Could Define Next Move A clean, high-volume break of $191.25 
would confirm that the immediate corrective risk has been deferred; a decisive 
daily close beneath $172 would instead signal that the first leg of the new 
advance has exhausted itself and that a retracement toward the upper-$160s or 
even the mid-$150s is underway. As ever, traders should remember that Elliott- 
wave projections are probabilistic rather than predictive. With volatility 
historically elevated in Solana, position sizing—alongside a clear plan for 
the two technical levels singled out in today’s analysis—remains the first 
line of defence. At press time, SOL traded at $180. Featured image created 
with DALL.E, chart from TradingView.com

Solana Price Rally Targets $360—But This Support Must Hold

Ripple’s USD-backed stablecoin RLUSD is exploding across finance, powering 
everything from institutional collateral and DeFi trades to tokenized assets 
and global peer payments—all on the XRP Ledger. Ripple Spotlights RLUSD’s 
Expanding Real-World Use Cases Across Finance Ripple provided an in-depth look 
on May 13 at the growing number of real-world use cases for stablecoins, with 
[…]

Ripple Highlights RLUSD’s Role in Tokenizing Real-World Assets

Crypto and stock trading platform eToro has seen its share price gain nearly 
30% during its debut on the Nasdaq after the company made a last-minute boost 
to its initial public offering.
Shares in eToro Group Ltd (ETOR) closed May 14 trading at $67, up 28.9% from 
its initial offering price of $52, according to Yahoo Finance. It brings the 
company&#8217;s market value to over $5.5 billion.
Its stock price shot to a high of $74.26 during the trading day before cooling 
and has also slightly dipped by 0.7% after the bell to $66.53.
_EToro shares shot up and then traded sideways on the company &#8216;s debut US 
offering. Source: __Yahoo Finance_
The day before, on May 13, eToro boosted its IPO to $620 million after pricing 
its shares above its previously suggested range of between $46 to $50 each.
Initially, the firm aimed to raise $500 million by offering 10 million shares, 
but the company and its backers sold over 11.92 million shares at its IPO, 
split evenly between eToro and some existing shareholders.
Some BlackRock-managed funds and accounts had signalled interest in buying up 
to $100 million worth of shares at IPO, eToro said in a May 5 filing with the 
Securities and Exchange Commission.
Robinhood Markets Inc. (HOOD), a rival to eToro that went public in 2021, saw 
its share price sink 1.9% to $61.39, with its losses extending by 1.63% after- 
hours to $60.39, Yahoo Finance shows.
In its regulatory filing, eToro reported its total 2024 crypto revenue, from 
sources such as trading fees and withdrawals, was $12.1 billion, up from $3.4 
billion in 2023. It also expected crypto to account for 37% of its commission 
from trading activity in the first quarter of 2025, down from 43% in Q1 2024.
The offering was led by Goldman Sachs, Jefferies, UBS Investment Bank and 
Citigroup.
## IPOs rebound after tariff turmoil
EToro&#8217;s public debut marks a rebound for public offerings in the US after many 
firms put their plans on hold as US President Donald Trump&#8217;s sweeping tariffs 
tanked global markets.
EToro made confidential filings with the SEC in January for a public offering 
and publicly announced the plans on March 24, but delayed its IPO after 
Trump&#8217;s April 2 &#8220;Liberation Day&#8221; tariff plans, which put a stop to many in- 
the-works public offerings.
_**Related:**__**8 major crypto firms announce US expansion this year**_
The stock and crypto trading house was founded in 2007 and previously bid to 
go public in 2021 via a merger with a special purpose acquisition company at a 
valuation of $10 billion.
It canned that plan a year later, in 2022, after stock and crypto markets took 
a massive hit due to the COVID-19 pandemic and sticky inflation that caused 
central banks to quickly hike interest rates.
Crypto exchange Kraken is considering going public this year, as is stablecoin 
issuer Circle, which filed with the SEC on April 1 but paused its plan a day 
later due to Trump&#8217;s tariffs.
Crypto fund manager Bitwise predicted in December that, alongside Kraken and 
Circle, crypto exchange Figure, crypto bank Anchorage Digital and blockchain 
analytics firm Chainalysis would also go public this year.
_**Trade Secrets:**__**Metric signals $250K Bitcoin is &#8216;best case,&#8217; SOL, HYPE 
tipped for gains**_

eToro jumps 30% on Nasdaq debut after upsized IPO

Too many crypto startups are pricing themselves out of venture capital funding 
by chasing valuations far exceeding their revenues, according to Dan Tapeiro, 
the CEO of crypto-focused venture capital firm 10T Holdings.
&#8220;For some reason, founders and CEOs think that they should be raising capital 
at 50 to 80 times revenue. So that makes it very hard for us to make a return 
for our liquidity providers,&#8221; Tapeiro said while speaking in a panel 
discussion at the Consensus conference in Toronto on May 14.
&gt; &#8220;So a lot of those deals we just pass almost automatically, even businesses 
&gt; that we really like, we won&#8217;t invest in if the price isn&#8217;t reasonable in the 
&gt; beginning.&#8221;
10T Holdings has passed on over 200 companies for similar reasons, including 
the now-bankrupt FTX, BlockFi and Celsius, Tapeiro said.
Tapeiro said 10T Holdings looks for crypto projects that have valuations above 
the $400 million to $500 million range with a valuation-to-revenue ratio of 
10x or less.
_Host of Crypto In America Eleanor Terrett (left) moderating a discussion with 
Pantera Capital CEO Dan Morehead (middle) and Dan Tapeiro (right) at the 
Consensus conference. Source: Cointelegraph_
VCs often prefer lower valuations because they offer more upside potential 
with less risk.
Realistic valuations often make follow-on funding rounds more attractive to 
investors while also simplifying the exit process.
&#8220;Valuation is very important,&#8221; Tapeiro said.
Despite Tapeiro&#8217;s comments, it appears that crypto startups have had no 
problem attracting VC funds, as PitchBook reported on May 13 that the total 
value of crypto venture capital deals rose over 100% quarter-on-quarter to $6 
billion in Q1 2025, while the number of deals only increased by 8.8%.
## VCs should diversify their bags
Also speaking alongside Tapeiro was Pantera Capital CEO Dan Morehead, who said 
more VCs should opt to receive a mix of private equity and tokens when 
investing in crypto startups.
&#8220;Each one has their pros and cons, and then they go in these wild pendulum 
swings where sometimes tokens are really expensive and ventures cheap. 
Sometimes it&#8217;s the opposite.&#8221;
_**Related:**__**Crypto VC deals drop in Q1, but funding more than doubles: 
PitchBook**_
&#8220;So as an investor, I always advocate people investing in a wide spectrum of 
tokens and ventures.&#8221;
Morehead&#8217;s Pantera has taken a more aggressive approach than 10T Holdings over 
the years and seen considerable success, making a return on 86% of the 
startups it invested in, with 22 of those reaching unicorn 
status****(companies reaching $1 billion valuations).
_**Magazine:**__**Danger signs for Bitcoin as retail abandons it to 
institutions: Sky Wee**_