U.S. lawmakers are charging forward with a game-changing bill to shield non- custodial crypto developers from overreach, unlocking innovation and safeguarding America’s blockchain future. Emmer’s Crypto Shield Returns: Will Non-Custodial Devs Finally Breathe Free? U.S. Representative Tom Emmer (R-MN) announced on May 21 the reintroduction of the Blockchain Regulatory Certainty Act (BRCA), a bipartisan proposal intended […]

US Lawmakers Reload Blockchain Regulatory Certainty Act to Shield Crypto Builders

Decentralized finance platform Synthetix has axed its $27 million plan to 
acquire crypto options platform Derive after negative community feedback.
A Synthetix spokesperson told Cointelegraph on May 22 that its acquisition 
proposal, pitched to its community and to Derive&#8217;s, &#8220;did not resonate,&#8221; and 
both projects agreed to &#8220;step back from the proposed acquisition.&#8221;
Synthetix said on May 14 that it would acquire Derive in a token exchange 
deal, pricing 1 SNX token to 27 DRV tokens, which would value Derive at around 
$27 million, pending approval from both communities.
Synthetix strategy lead Ben Celermajer told Cointelegraph that other community 
concerns were the three-month token lock-up period and the deal&#8217;s price, part 
of which Synthetix tried to address with no lock-up for holders of less than 1 
million DRV.
&#8220;While we understand the commercials did not resonate with all community 
members, a number of holders from both communities believed the deal was fair 
and acceptable,&#8221; he said. 
&gt; &#8220;However, we acknowledge that the response fell short of expectations, and 
&gt; we have no intention of moving forward with something that was intended to 
&gt; be a collaborative and constructive endeavor.&#8221;
Celermajer said Synthetix will continue evaluating opportunities for building 
a decentralized derivatives platform on the Ethereum mainnet.
_Source:__Synthetix_
## Derive community concerned on deal&#8217;s benefits
Derive community members expressed concerns over the deal on the project&#8217;s 
forum, particularly around the token exchange rate and the deal&#8217;s overall 
benefit to the platform.
Derive user &#8220;Ramjo&#8221; wrote on May 14 that the token exchange rate is &#8220;a poor 
reflection of the value of derive as a platform,&#8221; and the &#8220;equivalent of 
selling the bottom and locking in lows.&#8221;
_**Related:**__**Synthetix founder threatens SNX stakers with &#8216;the stick&#8217; to 
fix SUSD depeg**_
Another user, &#8220;AlvaroHK,&#8221; called the deal &#8220;difficult to justify,&#8221; as they 
claimed that Derive generates more revenue than Synthetix, and there was no 
clause in the agreement to stop Synthetix from &#8220;printing millions of new 
tokens and keep diluting us.&#8221;
_AlvaroHK claims Derive generates more revenue than Synthetix, which makes the 
deal a tall order to justify. Source:__Derive_
&#8220;I have found the guidance that Synthetix plans to issue an additional 170 
million SNX to increase its supply to 500 million from 330 million,&#8221; AlvaroHK 
added in a follow-up post.
&#8220;Why this information is not disclosed when asked about it? It will dilute an 
additional 60% off the value of the offer made to Derive,&#8221; they added.
Derive, which Synthetix started in 2021 as Lyra, operated as a decentralized 
options protocol but remained part of the Synthetix ecosystem.
It eventually rebranded to Derive and took steps to operate independently from 
Synthetix, such as moving away from using Synthetix&#8217;s sUSD stablecoin and 
liquidity.
_**Magazine:**__**Metric signals $250K Bitcoin is &#8216;best case,&#8217; SOL, HYPE 
tipped for gains: Trade Secrets**_

Synthetix scuttles $27M Derive deal after community concerns

XRP price started a consolidation phase above the $2.320 zone. The price is 
now rising and might aim for an upside break above $2.450. XRP price started a 
decent increase above the $2.3650 zone. The price is now trading above $2.380 
and the 100-hourly Simple Moving Average. There is a connecting bullish trend 
line forming with support at $2.3580 on the hourly chart of the XRP/USD pair 
(data source from Kraken). The pair might start another increase if it clears 
the $2.450 resistance. XRP Price Eyes Steady Increase XRP price started a 
fresh downside correction in a range and traded below the $2.380 zone, unlike 
Bitcoin and Ethereum. There was a move below the $2.3650 and $2.350 levels. 
The price tested the $2.3350 zone. A low was formed at $2.33360 and the price 
is now moving higher. There was a move above the $2.350 and $2.3650 levels. 
The price cleared the 50% Fib retracement level of the downward move from the 
$2.4315 swing high to the $2.3360 high. The price is now trading above $2.38 
and the 100-hourly Simple Moving Average. There is also a connecting bullish 
trend line forming with support at $2.3580 on the hourly chart of the XRP/USD 
pair. On the upside, the price might face resistance near the $2.410 level. It 
is close to the 76.4% Fib retracement level of the downward move from the 
$2.4315 swing high to the $2.3360 high. The first major resistance is near the 
$2.4320 level. The next resistance is $2.450. A clear move above the $2.450 
resistance might send the price toward the $2.50 resistance. Any more gains 
might send the price toward the $2.550 resistance or even $2.5650 in the near 
term. The next major hurdle for the bulls might be $2.650. Another Decline? If 
XRP fails to clear the $2.450 resistance zone, it could start another decline. 
Initial support on the downside is near the $2.3650 level. The next major 
support is near the $2.3580 level and the trend line If there is a downside 
break and a close below the $2.3580 level, the price might continue to decline 
toward the $2.320 support. The next major support sits near the $2.2650 zone. 
Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in 
the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD 
is now above the 50 level. Major Support Levels – $2.3580 and $2.320. Major 
Resistance Levels – $2.420 and $2.450.

XRP Price Consolidates Before Liftoff — Is a Breakout on the Horizon?

The broader cryptocurrency market has been on an upward trajectory over the 
past few weeks, partly driven by improving global macroeconomic conditions. 
Recent policy shifts between the United States and China, two of the world’s 
largest economies, have helped fuel investor sentiment. Both countries have 
agreed to temporarily reduce tariffs: the US cut rates from 145% to 30%, while 
China lowered its own from 125% to 10%, each over 90 days. These decisions 
have been interpreted by some as a step toward easing global trade tensions, 
supporting risk-on assets such as Bitcoin. In response to the broader bullish 
environment, Bitcoin has seen a steady rise, currently trading at $106,574, up 
1.7% in the last 24 hours. The price earlier reached a 24-hour high of 
$107,844 before retreating slightly. Despite the pullback, Bitcoin remains 
just 2% below its all-time high of $109,000, recorded in January 2025. The 
consistent climb has led analysts and traders to monitor on-chain metrics more 
closely to gauge market behavior and possible future movements. Related 
Reading: Binance Bitcoin Outflows and MVRV Ratio Point to Sustained Bullish 
Setup, Analyst Reveals Realized Capitalization Surges as Accumulation Phase 
Strengthens A recent analysis from CryptoQuant contributor Carmelo Alemán has 
brought attention to Bitcoin’s realized capitalization, a metric that measures 
the total value of Bitcoin based on the price at which each coin last moved 
on-chain. According to Alemán, the realized cap jumped by more than $3 billion 
in a single day, marking a 0.33% increase in the total capital invested in 
Bitcoin. This significant uptick signals renewed capital inflows, and more 
importantly, it points to a recurring pattern of accumulation and 
consolidation. Alemán identified a repeating cycle beginning in April, where 
Bitcoin has shown sharp price increases followed by sideways movements lasting 
8 to 10 days. These lateral phases, supported by rising realized cap, form a 
staircase-like chart structure with each step building upon the previous one. 
From an on-chain perspective, the steady climb in realized cap suggests buyers 
are entering the market at higher levels, lifting the network’s aggregate cost 
basis and demonstrating long-term confidence in the asset. On-Chain Trends 
Suggest Investors Are Positioning for Continuation Alemán also highlighted 
that the behavior of realized capitalization in the current market mirrors 
patterns seen in previous bull cycles. Historically, spikes in this metric 
during consolidation phases have preceded large-scale price movements. The 
current rise indicates that capital entering the market is doing so with a 
long-term view, rather than speculative short-term intent. This positions the 
market for a potential continuation, especially as accumulation appears to 
intensify around the psychological $106,000–$109,000 range. Related Reading: 
$3.8 Billion In Capital Inflows Behind Ethereum’s Post-Pectra Surge, Data 
Shows The analyst concluded that tracking realized cap in the days ahead will 
be essential to confirm whether the current phase evolves into another upward 
price impulse. If the trend persists, it could support another leg higher, 
reinforcing the view that Bitcoin remains in a broader accumulation structure. 
Featured image created with DALL-E, Chart from TradingView

Bitcoin Sees $3 Billion Daily Growth in Realized Cap Amid Ongoing Accumulation

Safemoon’s explosive rise was fueled by a massive fraud scheme, as its CEO was 
convicted for looting investor funds, lying about locked liquidity, and 
laundering millions. Safemoon CEO Faces 45 Years as Liquidity Pool Lies Lead 
to Federal Conviction The U.S. Department of Justice (DOJ) announced on May 21 
that Braden John Karony, chief executive […]

Safemoon CEO Found Guilty in Major Crypto Fraud, Could Serve 45 Years

Ethereum price found support at $2,440 and started a fresh increase. ETH is 
now rising and might aim for a move above the $2,650 resistance zone. Ethereum 
started a decent increase above the $2,500 and $2,520 levels. The price is 
trading above $2,540 and the 100-hourly Simple Moving Average. There is a 
connecting bullish trend line forming with support at $2,500 on the hourly 
chart of ETH/USD (data feed via Kraken). The pair could gain strength if it 
clears the $2,620 resistance in the near term. Ethereum Price Could Gain 
Strength Ethereum price remained in a range above $2,350 while Bitcoin traded 
to a new all-time high. ETH bulls were active near the $2,440 zone. A low was 
formed at $2,442 and the price started a fresh increase. There was a move 
above the $2,500 and $2,520 levels. The price surpassed the 50% Fib 
retracement level of the downward wave from the $2,615 swing high to the 
$2,442 low. Besides, there is a connecting bullish trend line forming with 
support at $2,500 on the hourly chart of ETH/USD. Ethereum price is now 
trading above $2,520 and the 100-hourly Simple Moving Average. It is also 
above the 76.4% Fib retracement level of the downward wave from the $2,615 
swing high to the $2,442 low. On the upside, the price could face resistance 
near the $2,620 level. The next key resistance is near the $2,650 level. The 
first major resistance is near the $2,720 level. A clear move above the $2,720 
resistance might send the price toward the $2,840 resistance. An upside break 
above the $2,840 resistance might call for more gains in the coming sessions. 
In the stated case, Ether could rise toward the $2,920 resistance zone or even 
$3,000 in the near term. Another Drop In ETH? If Ethereum fails to clear the 
$2,620 resistance, it could start a fresh decline. Initial support on the 
downside is near the $2,525 level. The first major support sits near the 
$2,500 zone and the trend line. A clear move below the $2,500 support might 
push the price toward the $2,440 support. Any more losses might send the price 
toward the $2,420 support level in the near term. The next key support sits at 
$2,350. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining 
momentum in the bullish zone. Hourly RSI &#8211; The RSI for ETH/USD is now above 
the 50 zone. Major Support Level – $2,500 Major Resistance Level – $2,620