XRP’s legal status is slowly getting less complex. Backed by strong community support, its steady price action shows growing confidence among investors. People who once doubted XRP are now flipping their views. Altcoin Daily’s Changed Tune On XRP At the Bitcoin Conference 2025 in Las Vegas, the Altcoin Daily team said, “The XRP community and …
On May 22, Cetus, the leading decentralized exchange on the Sui blockchain, was hacked, losing around $223 million. The attack involved fake tokens that manipulated the platform’s price system. Within hours, $60 million was moved to Ethereum, but Sui validators acted quickly and froze about $162 million. In response, Cetus and the Sui Foundation worked …
The crypto market is entering a decisive week, with Bitcoin testing key support levels and traders closely monitoring Nvidia’s earnings and the Federal Reserve’s meeting minutes for potential catalysts. Alongside Bitcoin, XRP and Solana are also showing key technical setups. Bitcoin Holds at $108K Amid Profit-Taking Pressure Bitcoin is consolidating above $108,900, supported by a …
The SEC is evaluating whether a proposed XRP ETF by WisdomTree offers enough investor protection and safeguards against manipulation.
Following a notable performance over the past 24 hours, Ethereum (ETH) is attempting to reclaim a key level as support. Some analysts suggest a breakout toward the $3,000 mark could be coming if the $2,600 mark holds. Related Reading: Bitcoin (BTC) To Continue Price Discovery Rally If It Holds These Levels – Analyst Ethereum Prepares For Massive Breakout On Tuesday, Ethereum surged to the $2,700 resistance after a 6.3% price jump in the daily timeframe. The cryptocurrency climbed from the $2,500 support zone toward the recent resistance level, hitting the $2,712 mark before retracing. ETH has been unable to cross this zone after recording its three-month high of $2,738 two weeks ago, halting its retest of higher horizontal levels. Notably, the King of Altcoins has surged over 50% in the past month and around 98% from April’s lows. Amid the May crypto market rally, which saw Bitcoin hit a new All-Time High (ATH) of $111,953 last week, Ethereum has traded sideways for most of the month, hovering between the $2,450-$2,600 price range. Nonetheless, ETH has outperformed Bitcoin so far during the second quarter, registering a 47.78% increase since April started. Analyst The Cryptonomist pointed out that Ethereum has broken above the $2,600 level, signaling that a reclaim of this level could conclude ETH’s sideways action between its current price range and propel its price toward the $3,400 mark. Similarly, Crypto Bullet affirmed that ETH is “about to break out and fill the big CME Gap.” According to the chart, the Altcoin appears to be forming a symmetrical triangle over the past few weeks, and is currently attempting to break out from the formation. A successful breakout and retest of the $2,700 level could send ETH’s price to the CME GAP levels, between $2,900 and $3,350, which other analysts also believe will be filled soon. ETH Dominance To Surge In June? Meanwhile, analyst Rekt Capital noted that Ethereum Dominance is “showcasing initial signs of trying to hold the ~9% level as support,” suggesting a potential bullish performance in June. As the analyst explained, ETH dominance has bounced since dropping to new All-Time Lows (ATL) last month, playing out “the full extent of its September 2019 upside.” Keeping this level as support could propel the cryptocurrency to a more market-dominant performance next month, resembling its 2019 playbook. Related Reading: Indecisive Close For Litecoin, But The Real Story Lies In BTC.D’s Next Move Market watcher Merlijn The Trader affirmed that Ethereum’s chart “is screaming bullish,” showing a multi-year base and “clean” bullish pennant pattern. To the trader, this setup could launch the cryptocurrency to a long-term target of $8,000 after breaking above the $3,000 mark. Additionally, ETH is preparing for the cycle’s “final pump,” according to Merlijn, based on its previous performances. He pointed out that Ethereum “goes vertical” after breaking its previous high every cycle. As of this writing, Ethereum trades at $2,686, an 8.8% increase in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
The Sui community has voted to return stolen assets from the Cetus Protocol, with nearly 53% supporting the proposal. Following the decision, a multisig wallet managed by the Sui Foundation and OtterSec will recover and transfer approximately $162 million in frozen funds from the attacker’s address. This action is a key step toward rebuilding trust …
Bitcoin's spot price recently reached record highs above $110,000.
The Bitcoin Conference 2025 sparked a new wave of market optimism, led by high-profile appearances from crypto pioneers Tyler and Cameron Winklevoss. Sharing the stage with prominent journalists, the Winklevoss twins drew attention for their bold forecast of Bitcoin’s future value. Winklevoss Twins Predict $1M Bitcoin During the event, the twins predicted that Bitcoin could …
At the ongoing Bitcoin Conference 2025 in Las Vegas, a bold statement from one of Wall Street’s biggest names is making waves. Robert Mitchnick, Managing Director at BlackRock, said that Bitcoin offers “much higher upside than gold and lower downside,” strengthening the idea that Bitcoin is maturing as a mainstream investment asset. Bitcoin vs. Gold: …
Bitcoin crossed the six-figure line for the first time this year in March and spent April drifting near the high $90,000 area. May opened at $96,505 and on May 22 printed a new record at $111,700, a 15.7 % advance in three weeks. Since then, the price has been hovering above $107,000, while turnover on […]
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Discussing the policies already enacted by the Trump administration, Sacks also claimed it could achieve its crypto agenda by August.
White House AI and crypto czar David Sacks says the US could buy more Bitcoin if the government can fund the purchase in a “budget-neutral” way without a tax or adding to the growing national debt.Sacks told Gemini co-founders Cameron and Tyler Winklevoss during a May 27 fireside chat at the Bitcoin 2025 conference that while he “can’t promise anything,” a pathway does exist for the government to buy more Bitcoin (BTC).However, it would require convincing Commerce Secretary Howard Lutnick or Treasury Secretary Scott Besson to OK the buy and fund it “without a new tax or adding to the debt,” Sacks said, adding that “maybe by finding the money from some other program that’s not using it — then we could potentially acquire more Bitcoin.”David Sacks said the US could buy more Bitcoin, but he can’t make any promises. Source: YouTube“The question is, can we get either the Treasury Department or the Commerce Department to get excited about that because if they do and they can figure out how to fund it, they actually do have presidential authorization,” Sacks said.US can buy Bitcoin if it doesn’t sting budget The March 6 executive order authorizing the creation of a crypto reserve states it will hold any Bitcoin forfeited as part of criminal or civil asset forfeiture.Sacks noted part of the executive order “allows the government to purchase more” if it’s “done in a budget-neutral” way.“Specifically, if either the Commerce Department or the Treasury Department can figure out how to fund it without adding to the debt, then they are allowed to create those programs,” he said.The US holds approximately 198,012 Bitcoin, according to an April report from CoinGecko, worth over $21 billion at current prices.Related: Trump supports bill to buy 1 million BTC — Senator LummisMost of its holdings came from two seizures connected to the online marketplace Silk Road, one in November 2020 that netted 69,370 Bitcoin, and another in March 2022 that saw authorities seize 51,351 Bitcoin.The US also seized 94,636 Bitcoin from Bitfinex hacker Ilya Lichtenstein on Jan. 31, 2022, after authorities hacked into his cloud storage account, which contained a file holding around 2,000 crypto wallet addresses and corresponding private keys.In January, the US Department of Justice received the green light to sell 198,109 Bitcoin. Previously, the government sold a small portion of its holdings in March 2023, when it offloaded 9,861 Bitcoin for $215.7 million. Magazine: Bitcoin payments are being undermined by centralized stablecoins
GameStop has followed through on plans to establish a corporate BTC treasury, purchasing 4,710 bitcoins for an undisclosed amount.
Australia’s markets regulator has filed civil proceedings against Liang “Allan” Guo, the former director of Blockchain Global. Guo will face the court on “allegations relating to multiple breaches of his directors’ duties,” the Australian Securities and Investments Commission said in a May 28 press release.ASIC alleged Guo made multiple breaches of directors’ duties relating to his dealings with ACX Exchange customer funds, and claimed he made false and misleading statements about those dealings and failed to maintain proper books and records. The now-liquidated Blockchain Global operated the ACX Exchange from mid-2016 until December 2019, when it collapsed as customers could no longer withdraw their assets. During liquidator’s examinations in 2022, the courts were told that ACX exchange took the cash invested by its customers to buy crypto and mingled the funds into one pooled fund, the Sydney Morning Herald reported at the time. The liquidators of Blockchain Global estimate that the company owed over 20 million Australian dollars ($12.8 million) in unsecured creditor claims to former customers of the ACX Exchange, ASIC said.In November 2023, liquidators reported that Blockchain Global had 58.6 million Australian dollars ($37.7 million) owed to unsecured creditors. Of that total, 22.7 million Australian dollars ($14.6 million) were unsecured creditor claims received from former customers of the crypto exchange.Guo not in country, ASIC saysASIC said it began investigating Blockchain Global in January 2024 following the liquidators’ report. Related: Australia outlines crypto regulation plan, promises action on debankingGuo was banned from leaving the country as the regulator investigated whether he committed any criminal offences, including transferring money from the collapsed exchange to pay his mortgage.Guo left Australia in September 2024 after travel restraint orders expired, and he hasn’t returned, it noted. Meanwhile, ASIC is seeking the High Court’s permission to appeal a lower court’s ruling in favor of fintech firm Block Earner in a separate case. The regulator claimed the crypto company’s fixed-yield earning service was not a financial product.Magazine: Bitcoin bears eye $69K, CZ denies WLF ‘fixer’ rumors: Hodler’s Digest
The price drop follows a meteoric rally from $165 to $420.
A crypto trader has pushed back against claims that altcoin season is already over, arguing that it hasn’t even started yet, as many tokens are still near their local price bottoms.“I don’t understand why people start claiming that a bear market is around the corner,” MN Trading Capital founder Michaël van de Poppe said in a May 28 X post.Calls for altcoin season mount“They are literally on the bottom,” van de Poppe added before stating that the “final easy 12-24 months are coming.” While many altcoins have posted gains over the past 30 days, they remain below their levels from the market uptrend until US President Donald Trump’s inauguration in January.Solana (SOL) posted 17.84% gains over the past 30 days, trading at $175.17, but is still down 32% since Jan. 19, according to CoinMarketCap. Meanwhile, XRP (XRP) posted gains of 1.98%, trading at $2.31, but is still down 29.35% since Jan. 19.Solana reached an all-time high of $261 on Jan. 19 amid the launch of the Official Trump coin. Source: CoinMarketCapVan de Poppe’s claim comes after Bitcoin (BTC) traders have recently been calling for a pullback after it reached its $111,970 all-time high and seven green weekly candles. Other analysts have echoed similar sentiments to van de Poppe.“Soon, Altcoins will turn into a wildfire,” crypto trader Davinci Jeremie said. Meanwhile, crypto trader Moustache said that “altseason isn’t just a meme. It’s coming ladies & gentleman.” Related: Altcoins’ roaring returns and falling USDT stablecoin dominance suggest ‘altseason’ is hereMany crypto market participants believe that the altcoin season will begin after Ether (ETH) has a period of outperformance relative to Bitcoin. The ETH/BTC ratio is 0.02430, up 26.74% over the past 30 days, according to TradingView data.The ETH/BTC ratio is up 26.74% over the past 30 days. Source: TradingViewHowever, CoinMarketCap’s Altcoin Season Index — which tracks the performance of the top 100 altcoins relative to Bitcoin over the past 90 days — still shows the market leaning toward Bitcoin, with a 24 out of 100 score.Fartcoin (FARTCOIN) led the top 100 cryptocurrencies in gains over the past 90 days with a 316.72% increase, followed by Four (FORM) at 148.15% and Virtuals Protocol (VIRTUAL) at 107.47%.Magazine: AI cures blindness, ‘good’ propaganda bots, OpenAI doomsday bunker: AI EyeThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
A crypto trader has pushed back against claims that altcoin season is already over, arguing that it hasn’t even started yet, as many tokens are still near their local price bottoms.“I don’t understand why people start claiming that a bear market is around the corner,” MN Trading Capital founder Michaël van de Poppe said in a May 28 X post.Calls for altcoin season mount“They are literally on the bottom,” van de Poppe added before stating that the “final easy 12-24 months are coming.” While many altcoins have posted gains over the past 30 days, they remain below their levels from the market uptrend until US President Donald Trump’s inauguration in January.Solana (SOL) posted 17.84% gains over the past 30 days, trading at $175.17, but is still down 32% since Jan. 19, according to CoinMarketCap. Meanwhile, XRP (XRP) posted gains of 1.98%, trading at $2.31, but is still down 29.35% since Jan. 19.Solana reached an all-time high of $261 on Jan. 19 amid the launch of the Official Trump coin. Source: CoinMarketCapVan de Poppe’s claim comes after Bitcoin (BTC) traders have recently been calling for a pullback after it reached its $111,970 all-time high and seven green weekly candles. Other analysts have echoed similar sentiments to van de Poppe.“Soon, Altcoins will turn into a wildfire,” crypto trader Davinci Jeremie said. Meanwhile, crypto trader Moustache said that “altseason isn’t just a meme. It’s coming ladies & gentleman.” Related: Altcoins’ roaring returns and falling USDT stablecoin dominance suggest ‘altseason’ is hereMany crypto market participants believe that the altcoin season will begin after Ether (ETH) has a period of outperformance relative to Bitcoin. The ETH/BTC ratio is 0.02430, up 26.74% over the past 30 days, according to TradingView data.The ETH/BTC ratio is up 26.74% over the past 30 days. Source: TradingViewHowever, CoinMarketCap’s Altcoin Season Index — which tracks the performance of the top 100 altcoins relative to Bitcoin over the past 90 days — still shows the market leaning toward Bitcoin, with a 24 out of 100 score.Fartcoin (FARTCOIN) led the top 100 cryptocurrencies in gains over the past 90 days with a 316.72% increase, followed by Four (FORM) at 148.15% and Virtuals Protocol (VIRTUAL) at 107.47%.Magazine: AI cures blindness, ‘good’ propaganda bots, OpenAI doomsday bunker: AI EyeThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
At the Bitcoin 2025 conference, David Sacks, the White House’s AI and crypto czar, had a discussion with Gemini co-founders Cameron and Tyler Winklevoss about Trump’s strong pro-Bitcoin moves. “I don’t want to measure what we accomplished exactly through price levels, I want to measure it through innovation levels. I noticed that BTC just set …
The International Monetary Fund said it has reached an agreement with El Salvador to pay the country $120 million following an initial review of its $1.4 billion loan agreement struck last year.The IMF said on May 27 that as part of the deal, El Salvador will need to fulfill its prior obligations around limiting further government involvement in Bitcoin (BTC), and it will have to cease its involvement in the Chivo wallet by the end of July.“On Bitcoin, efforts will continue to ensure that the total amount of Bitcoin held across all government-owned wallets remains unchanged,” the global lender said.The planned payout, subject to IMF executive board approval, is part of a larger $1.4 billion, 40-month loan deal struck in December, which saw El Salvador agree to confine its Bitcoin ambitions.On March 3, the IMF reiterated its stance that El Salvador should stop accumulating Bitcoin and not pursue other Bitcoin-related activities.Despite the IMF’s request, El Salvador's president, Nayib Bukele, has stated that his government will continue to acquire one BTC per day as part of the nation’s Bitcoin treasury strategy.El Salvador again defies IMFShortly after the IMF’s May 27 announcement, El Salvador’s Bitcoin Office posted to X that the country had once again purchased more Bitcoin.Source: The Bitcoin OfficeThe country’s official Bitcoin tracker shows that El Salvador is continuing with Bitcoin-buying through the Bitcoin Office, which has accumulated 30 BTC in the past 30 days.Currently, El Salvador’s Bitcoin reserve stands at 6,190.18 BTC.Related: How can Bukele still stack Bitcoin after IMF loan agreement?Last week, Bukele took to the social media platform X to reveal that the nation’s Bitcoin treasury is sitting at an unrealized profit of $386 million, a 132% gain on its total Bitcoin investment.In April, Rodrigo Valdes, director of the Western Hemisphere Department at the IMF, said that the country is complying with the IMF’s performance criteria.Author and intergovernmental blockchain adviser Anndy Lian suggested that the country could maintain technical compliance by purchasing Bitcoin through non-government entities.Magazine: Bitcoin bears eye $69K, CZ denies WLF ‘fixer’ rumors
At the Bitcoin 2025 Conference, a session titled “Making America the Global Bitcoin Superpower” conveyed a clear message: the United States is committed to embracing Bitcoin (BTC) and leading the global market. Key speakers Bo Hines, the White House Executive Director for digital assets, and Tyler Williams from the US Treasury Department, alongside moderator Miles Jennings, outlined the government’s aggressive strategy to establish the nation as a leader in the cryptocurrency space. Integration Of Crypto With ‘Legacy Financial Systems’ “We are well on our way to becoming the Bitcoin superpower of the world,” Hines declared, emphasizing that this initiative transcends partisan politics. He described the movement as a “revolution in our financial system” that requires immediate action. Jennings pointed out the critical regulatory measures that are currently being developed. “If the bill becomes law, we will play a significant role in integrating Bitcoin, stablecoins, and other digital assets with the legacy financial system,” he stated. This integration, he noted, would be facilitated by pending stablecoin legislation. Related Reading: Bitcoin Retraces Below $109,000: Analysts Split on Future Outlook Hines highlighted the importance of modernizing payment systems, asserting, “Updating the payment rails is necessary, and we are making significant progress.” He noted that forthcoming market structure legislation would clarify the regulatory landscape for intermediaries such as exchanges and brokers, determining whether digital assets will be classified as securities or commodities. Encouraging innovation within the crypto sector, Hines remarked, “We want folks to innovate here. We can’t let fear of regulatory repercussions stifle creativity.” He urged innovators who have moved abroad to consider returning, stating, “Our message to those who have gone offshore is: welcome home.” ‘Bitcoin Is The Golden Standard’ Williams reinforced the need for any new regulations to accommodate the unique nature of decentralized finance (DeFi). “Traditional financial markets operate on a principal-agent model, but crypto is shifting us toward a principal-to-principal structure,” he explained. He noted that regulatory support for the exchange-traded products (ETP) marketplace had led to a surge in institutional Bitcoin adoption, and he believes that similar outcomes could arise from stablecoin and market structure legislation. Related Reading: Dogecoin Enters Danger Zone — Chartist Predicts Sharp Drop Ahead Hines made a particularly bullish statement, declaring, “Bitcoin is truly the golden standard. This is an asset that we should be harnessing on behalf of the American people. We want as much as we can possibly get.” Tyler Williams echoed this sentiment, asserting, “We are going big on digital assets.” Hines concluded the session with a strong commitment: “You will certainly see the United States stepping out as the Bitcoin superpower of the world.” As of this writing, the market’s leading cryptocurrency, Bitcoin (BTC), is trading at $108,560, just over 2.8% below its all-time high of $111,800, which was reached last week amid renewed investments in the Bitcoin ETF market. Featured image from DALL-E, chart from TradingView.com
Tech billionaire Elon Musk has once again made headlines by publicly voicing his frustration over an important government spending and tax cut bill. The outspoken SpaceX and Tesla CEO, who has invested nearly $300 million into Donald Trump’s 2024 presidential campaign and Republican-aligned causes via his America PAC, expressed disappointment in the legislation during a …
The cryptocurrency market today has shown a minor uptick of 0.22% to the current milestone at $3.43 trillion. Trading activity remains strong, with the volume at $129 billion, which has surged 19.59% overnight. Talking about sentiments of marketers, the Fear & Greed Index stands at a greed driven score of 68. However, the Altcoin Season …
Ripple’s Chief Legal Officer, Stuart Alderoty, has asked the SEC to give clear rules on how crypto tokens should be treated. In a letter to the SEC’s Crypto Task Force, Alderoty said most crypto tokens traded in the secondary market should not be treated as securities. This retaliation is seen as Ripple’s efforts to launch …
ASIC secured interim court orders in February preventing Guo from leaving Australia, but he exited the country days after they expired.
Jack Dorsey’s company, Block, Inc., plans to let Square merchants accept Bitcoin payments using the Lightning Network. Announced at the Bitcoin 2025 conference, the rollout will start in late 2025 and expand to all eligible sellers by 2026, pending regulatory approval. Merchants can choose to keep the Bitcoin or automatically convert it to cash instantly. …
El Salvador has added eight more bitcoins to its holdings, defying the IMF’s push to halt government crypto purchases tied to a $1.4 billion loan deal. The Bitcoin Office announced the move shortly after IMF staff praised the country’s economic reforms during a loan review. While the IMF acknowledged progress in fiscal policy and inflation …
Outgoing US Commodity Futures Trading Commission commissioner Christy Goldsmith Romero says the exodus of the agency’s top brass is “not a great situation” for crypto regulations.The CFTC could be headed by just one commissioner once the other four depart later this year, which Goldsmith Romero said in a May 27 interview at the Brookings Institution will make creating regulations harder because it leaves a less diverse pool of opinions. “I think it’s not a great situation if you have one person who’s determining what the rules should be; you lose the benefit of this back-and-forth, this push-and-pull as to what’s the right thing to do,” she said.“I’ve always wanted to hear from my fellow commissioners about what makes sense to them, and there are many things that they’ve convinced me of and many things that I’ve convinced them of, so I think it does a disservice to regulation.”Christy Goldsmith Romero said that four CFTC commissioners departing is not ideal because it leaves a less diverse pool of opinions. Source: YouTubeGoldsmith Romero’s last day will be May 31, leaving Commissioner Kristin Johnson as the CFTC’s sole Democrat, who has also announced plans to depart the agency before 2026. Republican Commissioner Summer Mersinger is also leaving on May 30 to join the crypto advocacy organization the Blockchain Association as CEO and Republican acting CFTC Chair Caroline Pham said on May 15 that she plans to move “to the private sector” if Brian Quintenz were to be confirmed head of the agency.If Quintenz is confirmed, and Pham follows through on leaving, it would leave him solely in charge of the agency. Five commissioners are supposed to make up the CFTC, and no more than three can be from the same political party.Goldsmith Romero said that during her tenure, all the commissioners had different perspectives and experiences that, when brought together, were “really helpful.”“So what happens if the CFTC gets down to one and gets new authority for crypto? It’s going to be really, really hard; you’re not going to have the same push and pull,” she said.The Trump administration has floated the idea of handing the reins of crypto regulation to the CFTC in the past. Congressional Republicans have also been drafting bills to give the CFTC greater oversight over the industry, Retail customer Definition should be CFTC priority In the future, Goldsmith Romero thinks the CFTC should work on defining a retail customer to ensure the influx of fresh investments in “crypto and some other products” has a similar retail customer protection regime to the Securities and Exchange Commission.Related: Crypto perp futures coming ‘very soon,’ says CFTC’s Mersinger“I came from the SEC with an investor protection regime, you want people to know their rights and risk if they take a risk and they lose that’s on them,” she said.“But you want to have some basic things like exchanges that are registered that have some basic requirements and have to follow the law and this is, I think, the main thing that needs to happen.”Goldsmith Romero said other “extremely basic” rules could include a ban against co-mingling a company’s assets with customer funds, and brokers, exchanges and clearing houses being required to register with the SEC, the CFTC or in some cases, both.Magazine: Bitcoin bears eye $69K, CZ denies WLF ‘fixer’ rumors: Hodler’s Digest, May 18 – 24
The Sui Foundation has extended a loan to Cetus to fully reimburse affected users, with repayment contingent on an upcoming on-chain community vote.
Following a $223 million hack that affected the Sui ecosystem, decentralized exchange Cetus has proposed a recovery plan to recover $162 million frozen in the hacker’s wallets. This plan depends on a community vote, needing over 50% participation and majority support to approve a protocol upgrade that would override the attacker’s control. If successful, the …
US President Donald Trump’s pick to chair the Commodity Futures Trading Commission has disclosed millions of dollars worth of assets, along with his various ties to crypto-related organizations.In paperwork released by the US Office of Government Ethics on May 25, Brian Quintenz disclosed his key positions in crypto and market firms that would directly relate to the CFTC’s regulatory priorities and disclosed assets worth at least $3.4 million, according to a May 27 Bloomberg report. Quintenz was a CFTC commissioner from 2017 to 2021 and is currently the global head of crypto policy at Andreessen Horowitz, a position he said he will step down from if the Senate confirms him as CFTC chair. He holds an interest in three AH Capital Management investment funds, CNK Fund III, CNK Seed 1 Fund, and CNK IV Fund, plus capital commitments to related general partners. He is also a board member of the prediction markets platform Kalshi and owns stock and unvested stock options in the firm, along with stock and vested stock options in the finance and lending brokerage Next Level Derivatives.His portfolio intersects directly with two major CFTC policy areas, crypto asset regulation and prediction markets. Kalashi settled a major legal battle with the CFTC over election betting earlier this month. Quintenz outlined the steps he will take to avoid conflicts of interest if confirmed as CFTC chairman in an agreement letter to John Einstman, the CFTC’s Designated Agency Ethics Official, dated May 21. “I will not participate personally and substantially in any particular matter in which I know that I have a financial interest directly and predictably affected by the matter,” he stated. Edit the caption here or remove the textAn excerpt of Brian Quintenz's letter. Source: US Office of Government EthicsHe added that he will resign from all positions and divest conflicting assets within 90 days of confirmation. This includes recusing himself from a16z-related matters for two years, recusing from Kalashi matters for one year, and forfeiting unvested stock options at multiple companies. Related: Crypto perp futures coming ‘very soon,’ says CFTC’s MersingerQuintenz also said he would comply with standard conflict of interest laws and obtain ethics briefings, but will retain unpaid trustee positions for two family trusts. Trump nominated Quintenz to head the financial regulator in February and is currently awaiting Senate confirmation. CFTC commissioner exodus continuesThe CFTC has seen an exodus of commissioners recently amid concern over the Trump administration’s crypto embrace, with potentially all four remaining positions being up for grabs this year.On May 21, Democrat Commissioner Kristin Johnson announced that she plans to depart the agency later this year.Meanwhile, Commissioners Summer Mersinger and Christy Goldsmith Romero previously said they would respectively step down on May 30 and May 31.Magazine: Bitcoin bears eye $69K, CZ denies WLF ‘fixer’ rumors: Hodler’s Digest