This week highlighted crypto’s growing divide between product innovation and policy paralysis, as futures trading expanded and ETF applications stalled.
From Europe’s stablecoin debate to sudden market drawdowns, here are the biggest developments in digital assets over the past week.
Bitcoin holds firm as altcoins slump on profit-taking and geopolitical tensions
Bitcoin hovered near $93,000 this week despite sharp declines in major altcoins, as traders rotated into assets perceived as more stable amid rising macro uncertainty.
Memecoins led the losses, with Dogecoin and Shiba Inu down over 5%. Ethereum, Solana, BNB, and XRP all posted 2–5% declines.
Analysts point to a pullback following weeks of gains, with investors locking in profits.
Bitget’s COO noted that Bitcoin’s reduced equity correlation and “safe-haven” appeal are driving this trend, echoing gold-like behavior in response to elevated geopolitical and trade risks.
Trump Media unveils crypto ETF plans in political branding push
Trump Media & Technology Group revealed it will launch a series of thematic ETFs in 2025, targeting U.S. and global retail investors aligned with President Donald Trump’s “America First” economic platform.
The company partnered with Crypto.com’s brokerage arm and Yorkville America Digital to develop funds focused on domestic growth, defense, and digital assets.
Though no SEC filings have yet appeared, the announcement extends Trump Media’s growing crypto footprint, including Trump NFTs, memecoins, and equity stakes in blockchain firms, into regulated investment products aimed at conservative-aligned audiences.
XRP eyes 70% rally as Coinbase futures go live under CFTC oversight
XRP is drawing bullish attention from traders following the April 21 launch of CFTC-regulated XRP futures on Coinbase Derivatives.
Chart analysts are watching a potential breakout from a Wyckoff reaccumulation pattern and a falling wedge structure, both pointing to targets above $3.50.
XRP has remained resilient above key support levels, with technical models projecting a possible rally toward $4.00 or higher if resistance levels are breached.
The new derivatives product could boost liquidity and institutional demand, particularly as regulatory clarity improves under the Commodity Futures Trading Commission.
TRUMP token unlock releases $309 million in supply, holders face steep losses
On April 18, the first vesting unlock of the TRUMP token introduced 40 million new tokens, worth $309 million, into circulation, triggering fresh concerns over price pressure.
According to CoinGecko, the token is now down nearly 90%from its January peak of $73.43, following a hyped launch around Trump’s inauguration. Over 800,000 wallets are estimated to hold unrealized losses totaling $2 billion.
Ownership data shows that 80% of the supply is controlled by two Trump-linked entities—CIC Digital LLC and Fight Fight Fight LLC—raising questions about centralization and future unlock risk.
Clarification
$TRUMP has sharply recovered since, climbing from around $8 to $14.37 as of Thursday. A 70 percent price surge sparked the rebound after Trump’s team announced an exclusive gala dinner for the top 220 token holders, scheduled for May 22.
Additional momentum followed reports of a new crypto-gaming project modeled after MONOPOLY GO!, which is set to launch later this month.
Broader macro relief also played a role, as easing tensions between the U.S. and China helped lift overall crypto market sentiment.
SEC delays rulings on Polkadot, Hedera, and dual Bitcoin-Ethereum ETFs
The U.S. Securities and Exchange Commission (SEC) postponed its decisions on several pending spot crypto ETF proposals, including Grayscale’s Polkadot Trust, Canary’s Hedera (HBAR) fund, and Bitwise’s dual Bitcoin-Ethereum product.
New deadlines have been set for mid-June, extending an already crowded pipeline of more than 70 crypto-related ETFs awaiting regulatory action.
The delay reflects both procedural bottlenecks and a shifting regulatory landscape under SEC Chair Paul Atkins, whose recent appointment has led to dropped enforcement cases and a more accommodating stance toward digital asset innovation.
ECB warns Trump-fueled stablecoin boom could threaten eurozone liquidity
In a new policy paper, the European Central Bank (ECB) raised concerns that a Trump administration revival of crypto could fuel a “run on reserves” in the eurozone.
The ECB criticized the EU’s existing MiCA regulation as inadequate for cross-border stablecoins backed by U.S. dollars, warning these could divert capital into U.S. treasuries and weaken European monetary autonomy.
The European Commission rebuffed the warning, calling it a “fundamental misreading” of MiCA, but the ECB insisted on reforming the law to empower regulators to block stablecoin issuers deemed systemically risky.
AI tokens bounce back with $7B rally as investor interest returns
Crypto’s artificial intelligence sector saw a sharp rebound this week, with the market cap for AI tokens climbing from $21.4 billion to $28.8 billion, marking a $7 billion recovery since April 9.
Bittensor led the gains with a 47% surge, followed by the Artificial Superintelligence Alliance (+36%), Near Protocol (+26%), and Render (+23%).
A new CoinGecko report helped fuel momentum, showing that five of the top 20 crypto narratives globally are AI-related.
In a sign of deepening retail appetite, 87% of users surveyed said they would trust AI to manage a portion of their crypto portfolio.
