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The likelihood of the Clarity Act passing this year is diminishing as the political environment surrounding the bill continues to deteriorate, according to investment bank TD Cowen. The Block reported that Jaret Seiberg, a managing director at TD Cowen's Washington Research Group, noted that the political climate for the bill has worsened, making it improbable that it will become law this year. Although the Senate Banking Committee advanced the legislation earlier this month despite opposition from Democrats and the banking sector, Seiberg explained this signifies the debate has moved to the full Senate rather than a consensus being reached. He added that major obstacles remain, particularly concerning conflict-of-interest provisions. Seiberg also assessed that recent events surrounding President Donald Trump and his administration are making it more difficult for Democrats to support cryptocurrency legislation.

According to CoinNess market monitoring, BTC has fallen below $76,000. BTC is trading at $75,901.01 on the Binance USDT market.

Coinbase's Layer 2 network, Base, has launched its MCP Gateway, a tool designed to easily connect artificial intelligence interfaces with wallet infrastructure, The Block reported. The MCP Gateway provides a secure connection between Base accounts and AI interfaces that support the MCP standard, such as ChatGPT and Claude. This allows users to perform token swaps, transfer assets, and interact with dApps using only natural language commands.

The XRP Ledger Foundation has released a draft standard for an AMM V2 upgrade aimed at enhancing the functionality of its decentralized exchange (DEX), according to U.Today. The overhaul focuses on improving liquidity efficiency and the tokenization environment, as well as increasing price stability for real-world assets (RWA), stablecoins, and foreign exchange markets.

Privacy protocol Umbra has launched a Solana-based private token vesting feature in partnership with Streamflow, The Block reported. The function allows projects to vest and distribute tokens privately and at scale.

Solana (SOL)-based memecoin launchpad Pump.fun (PUMP) announced via X that it has launched a multichain trading feature on its app. The feature allows users to trade assets based on Ethereum, Base, BNB, and other blockchains with a single wallet.

Coinbase has announced the listing of META and DRV. Trading is scheduled to begin at 12:00 a.m. UTC on May 27, provided liquidity conditions are met.

Passing the CLARITY Act alone is not enough to improve regulatory certainty for cryptocurrency in the U.S., as significant tax system reforms are also necessary, according to Robin Singh, CEO of crypto tax platform Koinly. In an op-ed for CoinDesk, Singh argued that while the act is considered a turning point for the industry, the current tax framework remains complex and inefficient. He pointed out that some systems fail to accurately reflect investors' true tax situations by omitting acquisition costs and holding periods. Furthermore, activities on DeFi and non-custodial wallets are not tracked, placing the burden on users to manually reconstruct their transaction histories.

The weekly average spot trading volume for the top 10 cryptocurrencies has been approximately $80 billion this year, less than half of the $178 billion recorded in the previous year, according to crypto analytics firm Kaiko.

The Chicago Mercantile Exchange (CME) announced the launch of futures for Sui (SUI) and Avalanche (AVAX).

Bitcoin mining company TeraWulf saw its stock price jump 13% after announcing plans to build a large-scale AI and high-performance computing (HPC) data center in Kentucky. The company's shares are currently trading at $25.84, up 13.21%. According to CoinDesk, the project is planned to have a maximum capacity of one gigawatt (GW). TeraWulf aims to launch with 500 MW in 2028 and pursue further expansion through 2030.

Whale Alert reported that 250 million USDC has been minted at the USDC Treasury.

The Bitcoin funding rate has turned significantly positive again, according to on-chain analytics firm Glassnode. The firm noted that as BTC consolidates around $75,000, a trend has emerged where traders are paying a premium to maintain long positions. Glassnode suggested this indicates a clear reversal in market sentiment, moving away from the strong bearish positions seen in April.

According to CoinNess market monitoring, BTC has fallen below $77,000. BTC is trading at $76,986.35 on the Binance USDT market.

On-chain analytics firm Bubblemaps has raised rug pull allegations against the CWU token, a project that gained prominence through its backing by former Ghanaian President John Kufuor. According to Bubblemaps, a specific cluster of addresses sold approximately $600,000 worth of the token while still retaining control over about 85% of the total supply. The firm noted that this concentration of insider holdings and the recent sell-off are fueling market concerns.

The U.S. Navy has resumed supporting ships passing through the Strait of Hormuz, The Wall Street Journal reported, citing U.S. military officials. Officials stated that a Greek-owned Very Large Crude Carrier (VLCC) carrying two million barrels of crude oil was escorted by the U.S. Navy as it passed through waters near Oman. The vessel had been stranded in the Middle East Gulf region since early March and is now en route to India to deliver its cargo. This escort operation marks the restart of the "Freedom Plan," an initiative by the U.S. to support vessels navigating this key maritime route. The plan had previously been suspended about 36 hours after its initial launch. Officials added that the U.S. Navy plans to assist approximately 10 more ships, including VLCCs and container ships, in transiting the area within the next few days.

A Wyoming medical project backed by a $250 million investment from Cardano (ADA) founder Charles Hoskinson is set to close due to financial difficulties. Hoskinson announced that he will now focus on the Cardano ecosystem and the privacy-focused blockchain Midnight. According to CryptoSlate, the medical business is scheduled to shut down at the end of July, citing over-expansion and excessive costs.

Ripple is expanding its financial services for institutional clients by filing two new trademark applications in the United States for its Triskelion logo and wordmark, U.Today reported. The filings cover a range of services, including asset management, financial and risk management, investment advisory, and stablecoin-related services. They also extend to hedge fund operations, prime brokerage, securities lending, and clearing and brokerage functions.

According to CoinNess market monitoring, BTC has risen above $78,000. BTC is trading at $78,027.54 on the Binance USDT market.

The U.S. crypto industry is pushing back against claims by Democratic Senator Elizabeth Warren, a noted crypto opponent, that trust bank charters for firms like Coinbase and Ripple may be illegal, Decrypt reported. In a letter to the Office of the Comptroller of the Currency (OCC), The Digital Chamber urged the agency to approve national trust bank charters for crypto companies. The move counters Warren's earlier criticism that such charters could violate banking laws and create systemic risk. The industry argues the charters are legal, citing the GENIUS Act as justification.

The UK government has sanctioned cryptocurrency exchange HTX for allegedly providing financial services to companies linked to Russia's strategic industries. The exchange has previously been investigated by UK regulators for alleged illegal financial promotions.

Bitwise has purchased 162,000 HYPE, worth $10.11 million, over the past two hours, according to Lookonchain.

According to Cointelegraph, Bernstein noted in a report that the tokenized real-world asset (RWA) market has grown 42% this year to reach $51 billion. The firm highlighted that tokenized private credit is the largest segment, accounting for about 44% of the market, followed by U.S. Treasury-based RWAs at approximately 30% and commodities at around 14%. Figure Technology Solutions has emerged as a key platform, tokenizing about $18 billion in assets, while BlackRock's tokenized money market fund, BUIDL, has surpassed $2.5 billion in assets under management. Bernstein concluded that blockchain is becoming a core infrastructure for global capital markets, with the growth of on-chain derivatives markets like Hyperliquid accelerating RWA adoption.

Companies that have adopted an ETH accumulation strategy (DAT) are becoming more dependent on staking revenue, according to a report by Everstake. The trend comes as the competitiveness of simply holding ETH weakens with the advent of spot ETFs. Cointelegraph, citing the report, noted that for six ETH-accumulating firms that separately disclosed staking income, such revenue accounted for an average of 60% of their total disclosed sales. In contrast, the total net loss for companies that recorded deficits amounted to approximately $1.41 billion. Everstake explained that with spot ETFs offering investors easier access to ETH price exposure, it has become more crucial for these firms to secure additional revenue models, including staking, DeFi lending, and MEV strategies.

Kalshi has announced the launch of a prediction market for art prices.