OVERVIEW

It’s Over: SEC Won’t Appeal XRP ✊

Before we dive in, here’s today’s crypto market heatmap:

Source: Santiment

And here’s a look at crypto’s total market and altcoin market cap charts:

Source: TradingView

NEWS IN THREE SENTENCES
Crypto News 📰

🍀 Institutions Just Can’t Quit Crypto

Coinbase’s new survey says 83% of professional money managers plan to pile into digital assets in 2025, right after they watched Bitcoin rocket to $109k. They also keep itching for more tokenization, stablecoins, and DeFi, proving that “skeptics” is code for “soon-to-be fans.” Even the CFTC is letting Coinbase dabble with SOL and HBAR futures, so apparently regulators have decided to keep the party going. CoinJournal.

🏛️ Minnesota’s Politician Flips, Bows To Bitcoin

Senator Jeremy Miller, once a loud skeptic, now wants Minnesota to hold BTC reserves, accept taxes in crypto, and basically claim he’s always been pro-Bitcoin. Turns out 23 other states are pushing for their own BTC reserves while federal lawmakers stall, so guess who’s missing the party? If these bills pass, we may see a million-coin stash in Uncle Sam’s wallet—and critics can keep sulking about “risky assets” all they want. AMB Crypto.

🏦 Standard Chartered Finds Coinbase’s ETH Selling Offensive

The bank cut Ethereum’s price target after “discovering” that Coinbase may actually take profits like every other trader on Earth. Base hype or not, Standard Chartered thinks layer-2 networks are robbing Ethereum of fees—but hey, maybe they missed the memo on how free markets actually work. Meanwhile, Coinbase is probably thrilled to let critics do the math while it quietly collects revenue from both sides of the trade. Decrypt.

🎬 Hollywood Director’s Plot Twist: $11M Netflix Deal Turned Crypto Gamble

Carl Erik Rinsch apparently took Netflix’s money for a sci-fi series and decided to star in his own drama—buying stocks, crypto, and luxury cars instead. He’s now facing wire fraud and money laundering charges, which might make for a more entertaining storyline than “White Horse” ever could. Maybe critics of crypto can also direct their outrage at Hollywood for turning a blockbuster budget into a personal roller-coaster spree. TheBlock.

STOCKTWITS PRODUCT UPDATE
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How can you access this? Visit any of the trending stocks shown in the trending bar. Once on the symbol page, hover or click the trending icon next to the symbol name to reveal why it’s trending.

NEWS
1,548 Days After Getting Sued, XRP Finally Free 🇺🇸 

A timeline of what’s happened since December 22, 2024 in the SEC vs. $XRP.X ( ▼ 4.3% ) case.

• December 2020: SEC sues Ripple, claiming XRP is an unregistered security and that executives got filthy rich ($600 million) off illegal sales.

• Late 2020 – Jan 2021: XRP tanks 70%, Coinbase and others drop XRP faster than your friends after you get canceled.

• March 2021: XRP holders try to intervene, arguing the SEC screwed them worse than Ripple ever did; SEC tells them to stay out of grown-up fights.

• April 2021: Commissioner “Crypto Mom” Peirce tries to bring some sanity with a “safe harbor,” while Ripple pushes the SEC to reveal internal crypto trading rules, looking for skeletons.

• October 2021: XRP holders score amicus status; the judge basically says, “You can’t join the party, but feel free to shout from outside.”

• March 2022: Ripple’s “fair notice” defense sticks around—judge tells the SEC they should’ve actually told crypto companies what the rules were before suing.

• January & Summer 2022: Court tells SEC to stop hiding documents about Hinman’s ETH speech, slamming their “hypocrisy” and saying the SEC’s own internal chaos could help Ripple.

• September 2022: Ripple and SEC both swing for summary judgment; Ripple says XRP isn’t a security, SEC doubles down, Coinbase jumps in backing Ripple, and crypto watches nervously as the LBRY ruling spooks the market.

• March 2023: Judge cuts both sides’ expert witnesses down to size, limiting speculative BS, and Ripple takes this trimming as good news.

• April 2023: Gary Gensler dodges ETH-security questions in Congress, making Ripple the poster child for SEC confusion and triggering louder cries for regulatory clarity.

• May 2023: Judge orders Hinman emails unsealed—Ripple might get proof the SEC was internally as clueless about crypto as everyone suspected.

• July 2023: Ripple wins huge—the judge rules XRP sold on exchanges is not a security, but institutional sales were. XRP moons over 70% instantly, and exchanges rush to relist it faster than you unblocking your ex after a breakup.

• Aug–Oct 2023: SEC tries a quick appeal, judge shuts them down hard, and Ripple expands globally (Singapore says hello); crypto firms start citing Ripple’s case as legal armor.

• October 2023: SEC abruptly drops charges against Ripple’s execs—Garlinghouse and Larsen walk free, mocking the SEC as XRP enjoys another bump.

• March 2024: SEC demands a laughably high $2B penalty from Ripple, which Ripple mocks publicly, calling it SEC intimidation theatrics.

• May–July 2024: Settlement rumors swirl; SEC seems to chill out on repayment demands, and Congress finally gets serious about crypto laws to avoid another Ripple-style mess.

• August 2024: Judge slaps Ripple with a modest $125M fine (tiny compared to SEC’s fantasy number), no disgorgement, and tells Ripple to “just don’t screw up again.” Crypto cheers as XRP stabilizes and rises.

• March 2025: SEC waves the white flag—no appeal, case officially closed, Ripple’s Garlinghouse declares total victory, XRP sails off into regulatory clarity sunset.

ON-CHAIN ANALYSIS
Burnt Bag Briefing 🔥 

Want to know whether the bulls or bears are feeling the most pain today? Well, this is the place to look. 👀

24-Hour Liquidation Heat Map – Source: coinglass – Click to enlarge.

In the past 24 hours, 88,294 traders were liquidated, with total liquidations reaching nearly $267.76 million.

The largest single liquidation occurred on Binance, a SOLUSD pair valued at $9.96 million.

Longs lost $76.24 million, while shorts were hit for $191.52 million. 🤕

THE FED
Fed Rate Decision: Nothing 🛑 

Reading the Federal Reserve’s statements from January through March feels like getting the same dish twice, with just a pinch more salt the second time. 🧂 

In January, the Fed kept its target range at 4.25%–4.50%, noted stable unemployment, and declared inflation “somewhat elevated.” Growth, in their words, was “solid,” though they slipped in the line about uncertainty just to keep us on our toes.

Fast-forward to March, and they kept rates unchanged again. The old phrase “risks to the outlook roughly in balance” got upgraded to “uncertainty around the outlook has increased,” which might as well be economist-speak for “who knows?”

Other Data

• The Fed trimmed Treasury redemptions from $25 billion per month down to $5 billion. 

• New forecasts highlight a dip in growth prospects, down from 2.1% to 1.7% for 2025.

• Inflation remains elevated, so we’ll keep footing a hefty grocery bill until further notice.

• The dot plot still points to two rate cuts later in 2025—an optimistic cameo that suggests they’re hoping for a miraculous inflation fade and stable job market.

• The Fed insists the labor market remains “solid.”

The market’s immediate reaction? A slight drop in the dollar, a bit of a cheer in stocks, and a collective shrug about how it all ends. 🤷 

NEWS IN THREE SENTENCES
AI, Stablecoins, & Privacy News 🕵️ 

🤖 Web3 Domains For AI Overlords

A million AI agents are about to swarm blockchains, and critics think they’ll just be random wallet addresses. $ID.X ( ▲ 3.42% ) thinks human-readable domains say otherwise, letting your fancy GPT-based assistant flex a real identity. People who still call web3 domains a gimmick might want to check back when half their tasks are done by an “assistant.id.” Space.ID.

✴️ Stablecoins vs. Depegs: Bancor’s Take

$BNT.X ( ▼ 1.89% ) is reminding everyone that “let the market fix itself” rarely works when your stablecoin is on a crash course with $0.00. Synnax’s syUSD used automated trading strategies to dodge meltdown territory—like it or not, robust peg maintenance beats half-baked hope. This blueprint might annoy folks married to the free-market fantasy, but hey, it keeps coins alive. Bancor.

NEWS IN THREE SENTENCES
Metaverse, NFT, & Gaming News 🎮️

🎮 Sui’s Game Overload

Critics claim web3 gaming is stuck in the tutorial, but $SUI.X ( ▼ 1.27% )’s incoming wave of mobile arenas, strategy titles, and brand-name franchises begs to differ. Massive sub-second transactions and ownable assets finally give players what the hype once promised. Maybe the old gaming guard should brace for a shift that doesn’t care about their skepticism. Sui.

🗣️ Mantle Yappers Bag More Rewards

Anyone claiming social media engagement is dead in crypto hasn’t seen Mantle’s “Yapper Challenge” dishing out thousands of $MNT.X ( ▼ 3.34% ). Turn your tweets into a ticket for weekly raffles and bounties while building the chain’s most vocal community. The bored critic routine won’t stop user armies from leveling up their yapping game. Mantle.

NEWS IN THREE SENTENCES
DeFi, DEX, & Lending Protocol News 🏦

☄️ Neutron’s Big Leap

Mercury is turning Neutron from an ICS-secured chain into a sovereign PoS beast—so much for those who said $ATOM.X ( ▲ 0.4% ) has no new tricks. DeFi entrepreneurs get a performance boost that means bigger trades and fewer liquidity headaches. It’s hard to keep complaining about fragmentation when everything comes integrated out of the box. Cosmos.

⚔️ Ronin Readies DeFi Cavalry

The top gaming chain just declared it’s dropping a fat $13M program to lure DeFi protocols, so maybe it’s done playing around. Borrow against your NFTs, farm yields, and do it all on the chain behind $AXS.X ( ▼ 0.87% )—like it or not, that’s real synergy. Skeptics who said “$RON.X ( 0.0% ) is just for games” can now watch as finance and fun fuse into one unstoppable ecosystem. Ronin.

🏦 Aave V3 Invades Celo

Who said real-world adoption is a pipe dream? $AAVE.X ( ▼ 4.43% )’s latest deployment on $CELO.X ( ▼ 0.83% ) is hauling DeFi into emerging markets, with near-instant transactions for your low-collateral fix. Looks like sub-cent fees and mobile-first focus are set to bury the tired argument that on-chain lending’s too complicated for everyday users. Celo.

⚗️ Reactive Gas: Pay Then Burn

This chain’s fee model burns everything and rewards in $REACT.X ( ▼ 10.63% ), turning each transaction into a deflationary protest against typical validator payouts. Events only fire when needed, so no more paying for pointless triggers. Traditional blockchains might want to watch their backs as “efficiency plus deflation” steals the show. Reaction Network.

LINKS
Links That Don’t Suck 🔗

🥊 Treasury Secretary Scott Bessent says Trump’s reciprocal tariffs will focus on ‘dirty 15’

📉 Fund managers dump US stocks at record pace — Can recession fears hurt Bitcoin?

🤯 OriginTrail Selected by Microsoft for AI Demo at 2025 ChangeNOW Conference

😡 Deribit warns against scammers posing as crypto job recruiters

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