XRP Dump on Coinbase and Political Infiltration of Crypto

• XRP Movement: Over $130 million in XRP was moved to Coinbase in a week, potentially indicating selling pressure by whales. Despite this, XRP price has remained steady. Traders are awaiting the SEC-Ripple settlement filing.
• Political Influence: Crypto has become a major political donor, contributing over $100 million in the 2024 cycle, particularly influencing the Republican party. Trump, once a Bitcoin critic, has embraced crypto, influenced by figures like Peter Thiel and David Sacks. This shift could lead to favorable regulations for the crypto industry.
• Memecoin Emergence: A memecoin called FECAL appeared after a Congressman criticized crypto, underscoring the industry's ability to capitalize on political moments and monetize graft.
• Republican Acceptance: Despite crypto's limited commercial success and association with illicit activities, the Republican Party has largely embraced it. Key figures like Cynthia Lummis, Ted Cruz, and Tom Emmer have become advocates.
• Regulatory Issues: Crypto companies often resist regulations, leading to confrontations with agencies like the SEC. Some Democrats initially engaged with the industry, but crypto's stance against regulation has caused friction.
• Trump's Position: Under Trump, the SEC is expected to soften its stance on crypto. A pro-industry figure is likely to lead the agency, with potential repercussions for career staff.
• Core Beliefs: Crypto's underlying philosophy aligns with right-wing libertarianism, advocating for minimal government intervention and private control over money. This rhetoric has been absorbed into Republican discourse, framing crypto access as a key economic right.

Coinbase Launches 24/7 Crypto Futures Trading

• 24/7 Trading: Coinbase Derivatives launched 24/7 trading for Bitcoin and Ethereum futures on May 9, 2025, becoming the first U.S. CFTC-regulated exchange to offer continuous crypto futures trading.
• Partnerships: The move is supported by partners including Virtu Financial, ABN AMRO, Wedbush Securities, and Nodal Clear for liquidity, execution, risk management, and clearing. Nodal Clear processes payments and ensures transparency.
• Future Plans: Coinbase plans to introduce perpetual-style futures in the U.S. regulated market, aiming to expand its offerings for retail traders.
• Regulatory Approval: The launch follows regulatory approval and is designed to handle trading at all hours, prioritizing efficiency and trustworthiness.
• Exchange Expansion: Coinbase acquired options exchange Deribit for $2.9 billion in cash and shares to expand its crypto options and perpetuals trading services.