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Derivatives Behemoth CME Group Praises XRP's Utility
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Derivatives Behemoth CME Group Praises XRP’s Utility

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During an interview with futures trading veteran Anthony Crudele, CME Group’s Tim McCourt praised the utility of the Ripple-linked XRP token, claiming that it has “a really strong” use case. 

“And when we also looked at XRP, it’s a similar story where it has a really strong use case,” McCourt said.

He has noted that the XRP Ledger is capable of processing 1,500 transactions per second. 

Moreover, the XRP token is very actively traded in the spot market, according to McCourt. 

As reported by U.Today, CME Group introduced XRP futures on May 19 after launching a similar product for Solana (SOL) earlier this year. 

The products were launched in response to “clearly articulated customer demand,” McCourt said. 

During the interview, he stressed that the crypto space is maturing, and CME aims to provide the necessary infrastructure for this evolution. 

Notably, the Chicago-based derivatives giant launched both standard and micro XRP contracts. 

“I think this might be the first time we’ve listed both flavors or both sizes of a contract at the same time,” McCourt added. 

He has added that it speaks to a wide range of demand (among both institutional and retail investors). 

With XRP futures, the derivatives giant has also offered various transactional handshakes and mechanisms that are already available for other ETFs. 

Notably, CME Group expects the regulated futures to be critical infrastructure for exchange-traded products. 



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YGG Launches New Publishing Arm, Debuts First Game ‘LOL Land’

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In brief

  • Yield Guild Games has launched a new publishing division, YGG Play, focused on casual, crypto-native titles it dubs “Casual Degen” games.
  • Its first release, LOL Land, is a browser-based board game that features Pudgy Penguins community characters and offers token-based rewards.
  • The game has launched exclusively on Pudgy Penguins’ Abstract Chain and has received over 100,000 pre-registrations ahead of release, according to YGG.

After four years of watching Web3 games struggle to find their audience, Yield Guild Games decided the industry had to rethink how it matches players with the kind of games they’re actually in for: lighthearted chaos, in a “casual degen” vibe.

Instead of chasing broad mainstream adoption, the guild protocol launched YGG Play, a new game publishing unit dedicated to games that embrace the degen culture, with LOL Land, a web browser-based game explicitly designed for crypto-native players who live in the proverbial trenches.

“People play casual games on their phones while commuting, waiting in line, or taking a break,” Gabby Dizon, co-founder of YGG, told Decrypt. “They do it for fun as well as rewards like streaks, badges, or collectibles. And they happily spend a lot of real money on those games.”

Through its years of establishing a foothold with Web3 gamers by pioneering the so-called “play-to-earn” movement from 2020, YGG has learned “what’s fun, what works and what doesn’t,” leading it to develop “some very strong opinions on how to best serve the crypto market,” Dizon explained in a separate statement shared with Decrypt.

The move represents a strategic shift for YGG from investing in Web3 games to creating them directly. Rather than targeting mainstream gamers, the guild is focusing on crypto-native users who trade memecoins, mint NFTs, and engage in speculative activities.

The new game, LOL Land, features four thematic boards, including YGG City, Beach Day, Carnival, and Ice World Wonderland, which showcases Pudgy Penguins IP with playable characters based on community members like Aaron Teng and Rusk0f. 

The game offers two distinct gameplay modes. Free play provides unlimited rolls without token rewards, while premium mode requires purchasing rolls to earn points redeemable for YGG tokens from a $10 million prize pool.

The browser-based board game surpassed 100,000 pre-registrations before launching exclusively on Abstract Chain, according to YGG.

For LOL Land, players can “earn YGG tokens and [you] can use them to claim NFTs,” Dizon explained.

The game draws directly from Dizon’s experience in casual games and his experience in Web3 gaming thereafter.

“Before getting into crypto and founding YGG, I was a game developer for a little bit over 20 years,” Dizon shared with Decrypt. “I was making casual games for much of my career.”

Degens over mass market

The publishing strategy deliberately targets crypto enthusiasts rather than attempting to onboard traditional gamers. Dizon argues this approach addresses an underserved market segment larger than hardcore Web3 gaming.

“If you look at people who are trading memecoins, minting NFTs, or trading on exchanges, these are people that you can consider to be possible players under the ‘Casual Degen’ label,” Dizon said.

Asked about how he thinks Web3 games could last, Dizon, who claims to prefer playing single-player RPGs like Clair Obscur: Expedition 33, told Decrypt it’s a matter of perseverance.

“I do think that Web3 games can have a lasting impact on people,” he said. “It’s hard to make games in general. It’s even harder to make games that have new technology and figure out what the right format is for that technology, for people to use it.

Edited by Sebastian Sinclair

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Democrats propose crypto ban for politicians, protest outside Trump’s memecoin gala
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Democrats propose crypto ban for politicians, protest outside Trump’s memecoin gala

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Just hours before President Donald Trump’s high-profile gala for holders of his memecoin, Democratic lawmakers moved to curb what they call rising “crypto corruption” in Washington.

Led by Rep. Maxine Waters, 15 House Democrats introduced the “Stop Trading, Retention, and Unfair Market Payoffs in Crypto Act of 2025.” 

The bill would prohibit the president, vice president, members of Congress, and their immediate families from owning, promoting, or profiting from digital assets while in office. 

Lawmakers would also be barred from holding crypto assets in ways that allow them to exert unilateral control over the tokens.

“Trump’s crypto con is not just a scam to target investors,” Waters said in a statement. “It’s also a dangerous backdoor for selling influence over American policies to the highest foreign bidder.”

The legislation arrives amid a wave of criticism surrounding Trump’s deepening ties to crypto. The president and his wife, Melania, recently launched personal memecoins. 

Trump’s family has also backed a stablecoin through the crypto firm World Liberty Financial, and his sons are linked to a Bitcoin mining venture. 

Blockchain records indicate that Justin Sun, founder of Tron and a Chinese national, is one of the largest holders of TRUMP (TRUMP) — the memecoin that serves as a ticket to Thursday night’s dinner.

Protests outside the gala

The exclusive gala, hosted at Trump’s golf club in Virginia, invites the top 220 $TRUMP holders — some of whom spent between $55,000 and nearly $38 million in tokens to secure an invitation. 

Critics, including Sen. Richard Blumenthal, accuse Trump of “auctioning” access to the White House and potentially violating the Constitution’s ban on foreign gifts.

Protests are happening outside the event. Senators Chris Murphy, Elizabeth Warren, and Jeff Merkley, along with Rep. Sam Liccardo and advocacy groups, are calling out Donald Trump’s upcoming “meme coin” fundraising dinner as a threat to national security and a potential corruption risk, according to a note shared with crypto.news.

At a press conference today, the group demanded the release of attendee names and any promised favors. Murphy also promoted his recently introduced MEME Act, aimed at curbing digital asset profiteering by public officials.



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XRP Traders Remain Overwhelmingly Long on Binance
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XRP Traders Remain Overwhelmingly Long on Binance

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  • XRP traders remain bullish
  • XRP active addresses show steady activity

XRP traders on Binance appear to be bullish as long positions have surpassed shorts over the last few days. The latest Coinglass chart for the XRP/USDT perpetual market indicates that longs continue to dominate—an indication that most traders expect a rise in XRP price in the coming days.

XRP traders remain bullish

A comparison of the long and short positions on the chart shows that the longs (green bars) make up over 70% of total positions during the observed period. Shorts (red bars) have barely gained any significant momentum.

However, XRP sentiment hasn’t been entirely stable, as the line graph displays sharp dips and rebounds. Around May 19, interest from longs dipped temporarily, with shorts gaining the upper hand before a quick recovery. During this period, the percentage of long accounts dropped closer to 50% before rebounding.

This shift reflects some uncertainty in the market, but the sharp return to a higher long ratio shows a strong underlying belief by traders that XRP price could recover and continue rising.

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The price trend (represented by the black line over the long/short bars) mirrors the shift in sentiment. Even during price pullbacks, longs remained above 60%, indicating that most traders considered the dips as buying opportunities rather than reasons to exit positions.

Since this long/short account ratio is based on the number of trader accounts on each side, it highlights the breadth of the bullish sentiment. The significant number of accounts leaning toward longs points to a broader retail optimism.

Still, the current wave of optimism around XRP can change quickly, especially if traders begin factoring in other important elements such as macroeconomic conditions.

XRP active addresses show steady activity

Meanwhile, data from Glassnode shows that the number of active addresses on the XRP network has fluctuated noticeably over the past ten days. As of May 12, active addresses stood slightly above 38,000. However, a sharp decline followed, with the number dropping to about 33,000 by May 16.

On May 17, there was a sudden spike in activity, with active addresses rising to nearly 44,000—the highest level during this period. Twenty-four hours later, the number fell below 30,000 and remained in that range for the next three days. Then, on May 21, it rebounded to approximately 33,000.

Source: Glassnode

As of the latest CoinMarketCap update, XRP is trading at $2.41 after a 1.28% gain in the last 24 hours.



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XRP Ledger Welcomes Its First MiCA-Regulated Euro Stablecoin

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Schuman Financial’s EURØP today became the first euro-denominated stablecoin that both satisfies the European Union’s new Markets in Crypto-Assets (MiCA) regime and lives natively on the XRP Ledger (XRPL).

Launched from Paris on 22 May, the milestone ties MiCA-grade legal certainty to a blockchain that has already settled more than 3.3 billion transactions during its 12-year lifespan. “EURØP on the XRPL combines the resilience of a global blockchain with euro-native liquidity and compliance at its core. This will give Europe and euro-denominated financial markets an integral infrastructure for the next wave of financial innovation, which is happening on-chain,” said Martin Bruncko, Schuman Financial’s founder and CEO, in the announcement.

XRP Ledger And Why MiCA Status Matters

MiCA’s stablecoin provisions—covering e-money tokens (EMT) such as EURØP—took effect on 30 June 2024. They require full 1:1 fiat backing, daily redeemability, bankruptcy-remote reserves and authorisation by an EU regulator. The French ACPR has licensed Schuman Financial as an EMT issuer, while KPMG audits its reserve assets held at Société Générale and other top-tier banks.

Only a handful of issuers have so far cleared MiCA’s bar: Circle’s USDC and EURC, Société Générale’s EURCV, and a dozen niche projects. But EURØP is the first to bring that regulatory pedigree to XRPL, whose native DEX, fast finality and low fees historically attracted IOU-based fiat tokens yet lacked a MiCA-compliant euro coin.

Euro stablecoins represent barely 0.15 % of the $232 billion global stablecoin float—roughly $338 million as of end-April 2025—yet they have become a strategic priority for European banks and fintechs now that MiCA offers a passportable legal framework.

For payment firms and corporate treasurers, EURØP offers a programmable settlement asset that can move in three to five seconds at fractions of a cent while retaining full EU regulatory coverage. Schuman Financial says the token will underpin DeFi lending pools, automated foreign-exchange corridors, and on-chain euro legs for tokenized real-world-asset (RWA) trades—use cases that MiCA expressly contemplates once issuers file a “significant” EMT designation with the European Banking Authority.

Cassie Craddock, Ripple’s Managing Director for UK & Europe, framed the launch as validation of ledger’s enterprise strategy: “The launch of EURØP on the XRP Ledger demonstrates how stablecoins can meet the high standards set by MiCA while unlocking new possibilities for on-chain payments and RWA tokenization.

At press time, XRP traded at $2.43.

XRP bounces from the 20-day EMA, 1-day chart | Source: XRPUSDT on TradingView.com

Featured image created with DALL.E, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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Myriad Moves: Bitcoin Price Predictions and Eyes on Coinbase Hack Bounty Prize

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In brief

  • Bitcoin just marked a new all-time high, but Myriad users are now betting whether it’ll top $115K by EOD Sunday.
  • Predictors don’t expect Coinbase to pay out any of its $20 million hack bounty before June 15.
  • The final “Mission: Impossible” movie is hitting theaters, and its estimated opening weekend haul is below the Myriad line.

Everyone’s got an opinion, and prediction markets have become one of the most popular ways for users in crypto to share theirs—and maybe make some bank on it.

On Myriad Markets, users are able to predict event outcomes on markets across lots of different fields, like predicting the price of Bitcoin or the winner of the NBA Championship. And there are plenty more options beyond crypto and sports, including politics, culture, and gaming.

What’s generating interest on Myriad this week? Here’s a look at some of the most active markets, with helpful context about what might be driving current predictions. 

(Disclaimer: Myriad Markets is a product of Decrypt’s parent company, DASTAN.)

Bitcoin price above $115K on May 25 at 11:59pm UTC?

Market Open: May 21
Market Close: May 25
Volume: $10.1K 

After a downtrend that sent Bitcoin spiraling to around $75,000 in early April, the top crypto asset has stormed back, making new all-time highs above $111,000 in the process.

Now, a new flash market on Myriad asks predictors whether or not it can rally above $115,000 in the next few days. Will records keep being set?

So far, predictors think not, giving “yes” just a 25.8% chance despite BTC picking up 2.5% in the last 24 hours and sitting just 3.4% away from $115,000. 

Those odds are up since the market opened, however, up from the 16.6% “yes” odds reflected at the low point on Wednesday afternoon. As Bitcoin sustained its rally into Wednesday evening and early Thursday morning, prediction volumes have pushed to around 26%. 

Blockstream CEO and longtime Bitcoiner Adam Back recently told Decrypt that he believes Bitcoin will hit between $500,000 and $1 million this cycle, and other analysts see runs to $200,000 and beyond. So are “no” predictors short Bitcoin, or merely think the “digital gold” has rallied hard enough of late, gaining more than 25% in the last 30 days?

What’s Next? Bitcoin is holding its own above $111,000 so far, needing a gain of just a few more percentage points in order to reach $115,000. 

Will Coinbase pay any part of the $20 million hacker bounty before June 15?

Market Open: May 21
Market Close: June 14
Volume: $2.4K 

Active crypto users were discouraged to learn that leading American exchange Coinbase suffered a major customer data breach, as disclosed last week, impacting more than 69,000 customers over the span of months.

The hackers demanded $20 million in ransom as they attempted to blackmail the firm, but Coinbase pushed back, instead offering a $20 million bounty to the public for information leading to the arrest and conviction of the attackers. 

Myriad’s prediction market asks whether or not Coinbase will pay any of that bounty by June 15 as users rush to gain more information about the breach, potentially finding the culprits in the process. 

As of Thursday morning, predictors strongly believe that no payments will be made before June 15 with odds of “no” sitting around 74.5% or about where they have been since shortly after the market opened. 

Those odds stand despite the fact that a suspected actor in Coinbase-related social engineering scams trolled notable pseudonymous on-chain investigator ZachXBT in an Ethereum transaction’s input data, calling him a “L bozo.” 

The investigator was quick to identify North Korea’s association with the $1.4 billion ByBit hack earlier this year, earning himself more than $31,000 in ByBit’s bounty program within just a few days. He’s also been involved in numerous other efforts to identify crypto attackers, leading to arrests and convictions.

Can he or others do it again? 

What’s Next? Suspected Coinbase attackers are now trolling on-chain, perhaps suggesting cockiness or confidence they won’t be caught, though it’s not clear whether this particular troll is connected to the recently disclosed attacks. But will the additional data trails help lead to their downfall?

Will ‘Mission: Impossible’ gross $95 million in revenue in its U.S. opening weekend?

Market Open: May 20
Market Close: May 22
Volume: $3.83K 

Another Tom Cruise movie is gracing big screens this weekend, opening Friday in more than 3,800 theaters across the United States. 

The question for predictors is whether “Mission: Impossible – The Final Reckoning,” the eighth film in the long-running action series, will gross at least $95 million in its four-day opening stretch—a holiday weekend in the United States. 

Thus far the market thinks not, with odds of “no” jumping around 10% since Wednesday afternoon to around 78% at the time of writing. 

According to Deadline, the film’s greatest comparison is previous entry “Mission: Impossible – Dead Reckoning,” which brought in more than $120 million in “like-for-like markets at today’s opening rates” when it opened in 2023.

Still though, the Hollywood news site expects the latest film starring Cruise as Ethan Hunt to bring in around $75-$85 million domestically, below the Myriad prediction line. That falls in line with Screen Rant’s expectation of around $80 million, or around 19% below the Myriad number.  

Even with Box Office Pro estimating a potential record-breaking box office weekend, it still sees the latest, and potentially last Mission: Impossible film falling well below the $95 million mark. 

What’s Next? “Mission: Impossible – The Final Reckoning” will debut in U.S. theaters on Friday.

Edited by Andrew Hayward

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Dow Jones, Nasdaq, S&P 500 down, retailers are split on tariff impact
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Dow Jones seesaws, ends flat as Bitcoin hits new all-time high

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U.S. stocks ended mixed Thursday as markets digested the House’s narrow approval of President Trump’s massive tax-and-spending package.

The S&P 500 dipped 0.04%, the Dow Jones Industrial Average was flat, and the Nasdaq Composite rose 0.28%.

The legislation—projected by the Congressional Budget Office to add nearly $4 trillion to the federal deficit—includes sweeping tax cuts and increased military spending.

It passed the House by a single vote after last-minute revisions, including expanded deductions for state and local taxes, aimed at swaying conservative lawmakers. The bill now heads to the Senate.

Another spike in Treasury yields tempered investor sentiment. The 30-year bond briefly rose above 5.16%—its highest level since 2023—before easing.

The benchmark 10-year yield also pulled back slightly to 4.55%. 

Analysts said weak demand at Wednesday’s 20-year bond auction fueled the earlier sell-off in Treasurys, while concerns about debt sustainability persist.

“Short term, the tax bill is good for the economy,” said Argent Capital’s Jed Ellerbroek. “But in the longer term, it adds to the deficit, and that’s bad for markets.”

Bitcoin keeps hitting all-time highs

Bitcoin (BTC) extended its massive rally, trading above $111,000, amid optimism over Senate progress on stablecoin regulation and anticipation surrounding a Trump donor event attended by major crypto holders.

Bitcoin’s rally sparked limited excitement among derivatives traders compared to past bull runs. Analysts noted that spot market demand, not speculation, drove the gains, with long/short ratios and liquidations indicating moderate bullish sentiment.



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$670M in Bitcoin Moved to Major U.S. Crypto Exchange In Mere Hours
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$670M in Bitcoin Moved to Major U.S. Crypto Exchange In Mere Hours

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On May 22, leading U.S.-based crypto exchange Coinbase received large transfers involving a total of 6,016 BTC from multiple unknown whales, according to recent data from on-chain tracking platform Whale Alert.

According to the data source, the massive Bitcoin transfers, worth more than $670 million, were executed consecutively in 13 separate, identical transactions.

The 13 transactions saw transfers made in identical amounts, with different unknown wallets sending 463 BTC to Coinbase 11 times. The remaining two transfers involved 462 BTC and 461 BTC, bringing the total Bitcoin inflow to 6,016 BTC in just a few hours.

Although the tracker could not identify the sender’s address, it revealed that the transactions were made from separate unknown accounts.

Whales dump on Bitcoin Pizza Day?

With the large BTC transfers coming during a major Bitcoin bull run that saw the leading cryptocurrency set new records and hit a new all-time high, the move has sparked discussions among the crypto community.

The timing has caught the attention of market participants as it coincides with the legendary Bitcoin Pizza Day, causing enthusiasts to speculate about the motive behind the transfer.

While the transfers were consistent in size and happened in rapid sequence, there are suggestions that it might be a coordinated activity from a single institution attempting to dump its Bitcoin stash.

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Oftentimes, large transfers to a highly liquid platform like Coinbase have been associated with major players preparing to sell off their assets to take profits after amassing gains from Bitcoin’s upsurge.

While movements like this often negatively influence Bitcoin’s price, the cryptocurrency has remained bullish, trading in the green zone since yesterday. Although the reason behind the massive Bitcoin transfers remains uncertain, it has not directly impacted the asset’s price.

Over the last day, Bitcoin has surged by 4.56%, according to data provided by CoinMarketCap. While it achieved a new high of $111,915 today, the coin is trading at $111,538 as of press time.

Source: CoinMarketCap 

Although market participants expect Bitcoin’s price to remain bullish in the long run, recurring dump activities from whales could slow down its potential to continue rising.



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Sui Token Starts to Recover After $223 Million Exploit on Its Biggest Decentralized Exchange

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In brief

  • SUI retraced a small portion of its losses, a few hours after rnews broke that more than $200 million had be stolen from decentralized exchange Cetus.
  • SUI’s price dipped to nearly $3.80 earlier Thursday.
  • Several other tokens linked to the Sui ecosystem were trading down on Thursday.

Sui’s native token started to recover after its price tumbled earlier on Thursday due to a more than $200 million exploit of the layer-1 blockchain’s largest decentralized exchange, Cetus. 

SUI was recently trading at $3.89, CoinGecko data shows. The token, which fell from $4.18 to $3.82 after news of the Cetus exploit erupted on Crypto Twitter, was down 3.7% over the past 24 hours. 

Malicious actors have siphoned $223 million worth of digital assets from Cetus’ liquidity pools, Sui said Thursday in a social media post. The wallet connected to the attack was recently holding about $37 million in cryptocurrencies, SuiVision records show.  

“The Cetus team is exploring paths to recover those funds and return them to the community, Sui said in the statement, adding Cetus has paused smart contracts to prevent further theft. “An incident report from Cetus is forthcoming.”



The exploit comes as the decentralized finance sector has struggled to weather an increasing number of multi-million-dollar cyber attacks over the past few years. A Chainanalysis report shows that stolen funds in the DeFi sector totaled $2.2 billion in 2024, a 21% increase from the year prior. 

More broadly, centralized trading platforms for digital assets have also suffered due to critical cyberattacks on their infrastructures. In February, crypto exchange ByBit sustained a $1.4 billion hack, marking the largest crypto heist ever by funds lost. 

Although Sui’s flagship token has largely recovered since the Cetus attack, other digital assets linked to its ecosystem are still struggling to retrace their losses. 

Lofi (LOFI), Sudeng (HIPPO), and Squirtle (SQUIRT) were recently trading down 15%, 6%, and 91% over the past 24 hours, according to CoinMarketCap data.

Edited by James Rubin

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Bitcoin sees limited profit taking with BTC price up 3.7%
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Bitcoin sees limited profit taking with BTC price up 3.7%

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Bitcoin price remained near its all-time high after a stellar surge on May 21, with bulls largely in control as the market eyed price discovery.

After hitting highs of $111,861, Bitcoin (BTC) traded to around $110,300 before rebounding higher.

Despite the spike to a fresh peak, with Bitcoin outpacing the Dow Jones Industrial Average as stocks struggled, the market hasn’t witnessed a significant profit taking scenario so far.

What are analysts saying about Bitcoin price?

Notably, all BTC addresses flipped profitable as the cryptocurrency rallied. Yet on-chain data shows the benchmark digital asset is “still not overheated.”

CryptoQuant analyst Crypto Dan posited that despite the run to a new ATH, profit taking is so far mild.

“Overheating indicators such as the funding rate [and] short-term capital inflow remain low compared to previous peaks,  and profit-taking by short-term investors is limited.”

Alex Wacy, a popular crypto analyst and investor, noted via a post on X that while BTC storms to a new ATH, “there’s no mania.”

He pointed to Google searches being low, with retail not yet in fear of missing out territory.

$BTC is hitting a new all-time high.

But look around: there’s no mania.

Google searches are quiet. Retail is still asleep. CT is loud, but it always is. The broader public isn’t rushing in — not yet.

It’s a familiar pattern. Hype always lags price. Interest follows… pic.twitter.com/hzd2sXyPpc

— AlΞx Wacy 🌐 (@wacy_time1) May 22, 2025

But as Bitcoin quietly edges towards price discovery, something else is at historic levels – the global M2 money supply. Currently, this sits at over $22 trillion.

“That means there’s more money in the system than ever before. But it’s not backed by an equivalent increase in productivity, goods, or services. It’s just… more money,” the analyst noted.

No frenzy means it’s still early days for Bitcoin, Wacy said. His forecast aligns with overall market sentiment that Bitcoin’s price could target $150k or higher in 2025. On May 21, 2025, as BTC price broke past its January 2025 peak, Michael Saylor said buying at the top could still be profitable long-term.

The confidence in Bitcoin price going higher could be why a whale just sold recently acquired Ether (ETH) and continues to hodl the BTC. 

Per Lookonchain, a whale who scooped 30,000 ETH and 600 BTC on April 27, 2025 has sold all 30k ETH. However, the address still holds all 600 $BTC purchased for $56.9 million. The whale’s Bitcoin haul was worth over $66.5 million as prices hovered above $111k.





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