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The U.S. Senate’s failure to advance the GENIUS Act drew sharp criticism from Treasury Secretary Scott Bessent. He warned the decision could damage the country’s ability to lead in digital finance. This bill, officially the Guiding and Establishing National Innovation for US Stablecoins of 2025 Act, failed a procedural vote on May 8. Several Democratic senators pulled their support, citing language and timing issues. Bessent, also active on X, called the bill a “once-in-a-generation opportunity.” He said it aimed to strengthen dollar dominance and promote U.S. leadership in financial innovation. Bessent argued the Senate’s vote hurts progress on a stable federal framework for payment-focused stablecoins. The GENIUS Act began as a bipartisan solution but faltered late. Senate Democrats pointed to unfinished text and last-minute changes for their opposition. Senator Mark Warner of Virginia stated he couldn’t back an incomplete bill, raising national security and anti-money laundering (AML) concerns. Revised bill language included tighter compliance and better safeguards for stablecoin issuers. Still, it wasn’t enough for Democratic backing. Some lawmakers reportedly worried President Donald Trump’s recent crypto endorsements added political baggage, compromising the bill’s neutrality. Related: Rep. Steil Wants Crypto Bills Passed “In Tandem”: Here’s the Strategy Senator Bill Hagerty introduced the GENIUS Act. Senators Tim Scott, Kirsten Gillibrand, Cynthia Lummis, and Angela Alsobrooks co-sponsored it. Despite efforts to find agreement, the bill failed to get enough votes to end debate (cloture) and proceed to a full vote. Senator Lummis also shared her disappointment via X. Senate Majority Leader John Thune expressed frustration. He stated Democratic input was included throughout the process. Senator Lummis echoed this, calling the bill an important bipartisan step for stablecoin payment clarity. Despite this setback, industry figures and lawmakers indicate efforts to regulate digital assets will continue. Related: Senator Hagerty’s GENIUS Act Aims to Pass Stablecoin Bill in 100 Days Coinbase CEO Brian Armstrong noted crypto legislation remains a priority. He anticipates further initiatives soon. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

The inclusion of XRP in the U.S. Crypto Strategic Reserve reportedly wasn’t President Donald Trump’s original plan, according to new allegations. Emerging “truth” from crypto and political circles points to renowned lobbyist Brian Ballard as the key figure who influenced the decision to add XRP. This alleged lobbying backdrop casts a new light on President Trump’s crypto initiatives. After taking office, he first signed a January 2025 executive order, establishing the Presidential Working Group on Digital Asset Markets. The US President then announced on March 2 via Truth Social that XRP, Solana, Cardano, Ethereum, and Bitcoin would comprise the official US Crypto Strategic Reserve. Now, months later, political insiders claim Ballard’s efforts, driven by his ties with Ripple, were what landed XRP on that high-profile list. Documents confirm the lobbyist received at least $60,000 from Ripple in 2024, though the reasons for the payment remain undisclosed as of this report. Related: XRP Could Explode 10X From Here If This Triangle Pattern Holds These revelations about Ballard’s alleged influence have ignited widespread controversy. Reports from certain quarters claim Trump has severed ties with Ballard after realizing the lobbyist misled him. Despite the uproar, analysts think it’s highly unlikely the president would remove XRP from the US Strategic Crypto Stockpile, considering his ties with Ripple’s CEO Brad Garlinghouse, who donated significantly to Trump’s campaign and inauguration funds. Even as this stockpile controversy unfolds, XRP itself shows a bullish market outlook, surging over 15% in the past 24 hours. The cryptocurrency broke above a crucial $2.36 resistance on Friday morning, consolidating the bullish momentum. Related: Ripple CTO Makes The Case For XRP Inclusion in Crypto Stockpile Analysts predict higher levels for XRP, considering the expected litigation withdrawal from the SEC, which would bring the longstanding regulatory complications surrounding the digital payment project to a conclusive end. At press time, XRP traded at $2.3737, based on TradingView data. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Two days since Pectra went live on @ethereum and nearly 3,400 addresses have already granted authorization via EIP-7702. Account abstraction is no longer theoretical. It's here and adoption is happening! Let's take a look at who's leading the charge 🧵👇

Alpen Labs unveils Bitcoin Dollar, a fully $BTC-collateralized stablecoin @AlpenLabs, a developer of Bitcoin (BTC) layer-2 infrastructure, has officially unveiled the Bitcoin Dollar (BTD), a fully BTC-backed stablecoin, according to a press release via @PRNewswire. Designed to

Ethereum ( ETH ) has reclaimed the critical $2,000 price level, surging more than 15% in the past 24 hours amid renewed bullish sentiment across cryptocurrency markets. This significant move follows Bitcoin's groundbreaking achievement of crossing the $100,000 threshold for the first time in history, which has triggered widespread momentum across altcoins. ETH/USD price chart in the past 24 hours - TradingView Market analysts suggest that Ethereum's price action demonstrates strong technical fundamentals, with trading volume increasing substantially as investors rotate profits from Bitcoin into alternative cryptocurrencies with higher growth potential. The current ETH price movement has broken through several key resistance levels, suggesting the potential for continued upward momentum. Bitcoin's breakthrough of the psychological $100,000 barrier has dramatically altered market sentiment, creating ripple effects throughout the cryptocurrency ecosystem. Historically, major Bitcoin milestones have preceded significant price appreciation for Ethereum and other alternative cryptocurrencies. BTC/USD price chart in the past 7 days - TradingView Trading data shows that Ethereum's correlation with Bitcoin remains strong, but the current 15% daily gain for ETH outpaces Bitcoin's recent performance, indicating potential for Ethereum to outperform in the short term. This pattern aligns with previous bull market cycles where Ethereum delivered substantial returns after Bitcoin established new all-time highs. Several geopolitical developments have contributed to the favorable market conditions supporting Ethereum's price surge: The apparent de-escalation in the Russia-Ukraine conflict has reduced market uncertainty, with preliminary peace agreements signaling potential resolution. This development has improved risk sentiment across financial markets, benefiting cryptocurrencies as investors seek growth opportunities. Former President Donald Trump, now back in office, recently tweeted that "NOW is the best time to buy stocks," triggering a broad market rally. His statement has been interpreted as a strong vote of confidence in financial markets, with spillover effects boosting cryptocurrency prices. Historically, positive stock market sentiment has correlated with cryptocurrency price appreciation. Additionally, the recent election of a new Pope to replace his predecessor has restored stability to an important global institution, further contributing to market optimism. While seemingly unrelated to cryptocurrency markets, such events often influence overall market psychology and risk appetite. Technical indicators suggest Ethereum's break above $2,000 could lead to further gains in the near term. The 50-day moving average has crossed above the 200-day moving average, forming the "golden cross" pattern that typically signals bullish momentum. Trading volume has increased significantly during this price surge, confirming the strength of the movement. Key resistance levels to watch include $2,200 and $2,500, while the newly established support at $2,000 will be crucial for sustaining the rally. The Relative Strength Index (RSI) currently sits at 68, approaching but not yet in overbought territory, suggesting room for additional upside. ETH/USD 1-day chart - TradingView via Bitget Institutional interest in Ethereum continues to grow, with ETH-based investment products seeing substantial inflows in recent weeks. The successful implementation of network upgrades and increased adoption of Ethereum's layer-2 scaling solutions have strengthened the network's fundamentals. Analysts point to Ethereum's reduced issuance rate and fee-burning mechanism as factors that could create supply pressure, potentially supporting higher prices in the medium to long term. The current ETH price action comes amid broader acceptance of cryptocurrencies as an institutional asset class. For investors considering entry points, the current breakthrough above $2,000 represents both an opportunity and a milestone in Ethereum's price history. While short-term volatility remains likely, the convergence of technical strength, Bitcoin's historical milestone, and improving global conditions suggests a favorable outlook for Ethereum's price trajectory through the remainder of 2025. Ethereum ( ETH ) has reclaimed the critical $2,000 price level, surging more than 15% in the past 24 hours amid renewed bullish sentiment across cryptocurrency markets. This significant move follows Bitcoin's groundbreaking achievement of crossing the $100,000 threshold for the first time in history, which has triggered widespread momentum across altcoins. ETH/USD price chart in the past 24 hours - TradingView Market analysts suggest that Ethereum's price action demonstrates strong technical fundamentals, with trading volume increasing substantially as investors rotate profits from Bitcoin into alternative cryptocurrencies with higher growth potential. The current ETH price movement has broken through several key resistance levels, suggesting the potential for continued upward momentum. Bitcoin's breakthrough of the psychological $100,000 barrier has dramatically altered market sentiment, creating ripple effects throughout the cryptocurrency ecosystem. Historically, major Bitcoin milestones have preceded significant price appreciation for Ethereum and other alternative cryptocurrencies. BTC/USD price chart in the past 7 days - TradingView Trading data shows that Ethereum's correlation with Bitcoin remains strong, but the current 15% daily gain for ETH outpaces Bitcoin's recent performance, indicating potential for Ethereum to outperform in the short term. This pattern aligns with previous bull market cycles where Ethereum delivered substantial returns after Bitcoin established new all-time highs. Several geopolitical developments have contributed to the favorable market conditions supporting Ethereum's price surge: The apparent de-escalation in the Russia-Ukraine conflict has reduced market uncertainty, with preliminary peace agreements signaling potential resolution. This development has improved risk sentiment across financial markets, benefiting cryptocurrencies as investors seek growth opportunities. Former President Donald Trump, now back in office, recently tweeted that "NOW is the best time to buy stocks," triggering a broad market rally. His statement has been interpreted as a strong vote of confidence in financial markets, with spillover effects boosting cryptocurrency prices. Historically, positive stock market sentiment has correlated with cryptocurrency price appreciation. Additionally, the recent election of a new Pope to replace his predecessor has restored stability to an important global institution, further contributing to market optimism. While seemingly unrelated to cryptocurrency markets, such events often influence overall market psychology and risk appetite. Technical indicators suggest Ethereum's break above $2,000 could lead to further gains in the near term. The 50-day moving average has crossed above the 200-day moving average, forming the "golden cross" pattern that typically signals bullish momentum. Trading volume has increased significantly during this price surge, confirming the strength of the movement. Key resistance levels to watch include $2,200 and $2,500, while the newly established support at $2,000 will be crucial for sustaining the rally. The Relative Strength Index (RSI) currently sits at 68, approaching but not yet in overbought territory, suggesting room for additional upside. ETH/USD 1-day chart - TradingView via Bitget Institutional interest in Ethereum continues to grow, with ETH-based investment products seeing substantial inflows in recent weeks. The successful implementation of network upgrades and increased adoption of Ethereum's layer-2 scaling solutions have strengthened the network's fundamentals. Analysts point to Ethereum's reduced issuance rate and fee-burning mechanism as factors that could create supply pressure, potentially supporting higher prices in the medium to long term. The current ETH price action comes amid broader acceptance of cryptocurrencies as an institutional asset class. For investors considering entry points, the current breakthrough above $2,000 represents both an opportunity and a milestone in Ethereum's price history. While short-term volatility remains likely, the convergence of technical strength, Bitcoin's historical milestone, and improving global conditions suggests a favorable outlook for Ethereum's price trajectory through the remainder of 2025.