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Cryptocurrencies, including Bitcoin (BTC), rebounded on May 20 in response to the Federal Reserve's (Fed) comments on adjusting the pace of quantitative tightening. The Fed, in its post-FOMC policy statement, announced that it would hold the benchmark interest rate steady in March, while forecasting two rate cuts this year. In response, Bitcoin surpassed $86,000, and many other cryptocurrencies rebounded by more than 5%.
2. CEO of US blockchain advocacy group: "US Congress will complete cryptocurrency regulation bill by August"
Kristin Smith, CEO of the Blockchain Association, a US blockchain industry advocacy group, claimed at the Blockworks Digital Asset Summit on May 19 that the US Congress is likely to pass a cryptocurrency regulation bill, including stablecoins, as early as August. She said that based on her communication with many congressional members, the US Congress is highly motivated to pass cryptocurrency regulation.
3. 'Pro-Ripple' lawyer John Deaton: "Ripple can reduce $125 million fine"
John Deaton, a 'pro-Ripple' lawyer, pointed out on his X account on May 20 that the dismissal of the US Securities and Exchange Commission's (SEC) appeal against Ripple indicates that Ripple can significantly reduce the $125 million fine proposed by the SEC. He explained that the dismissal of the SEC's appeal represents a complete victory for Ripple and the end of the debate over the security status of XRP, allowing Ripple to negotiate with the SEC to significantly lower the previously proposed fine.
4. Trump's 'World Liberty Financial' completes $550 million token sale
The World Liberty Financial Foundation, a DeFi project led by the Trump family, raised approximately $550 million through the public sale of World Liberty Financial (WLF) tokens on May 19. The foundation stated that it conducted two token sales and attracted around 85,000 participants to purchase the WLF tokens. The World Liberty Financial Foundation acquired approximately $413 million, which is about 75% of the token sale proceeds.
