US Federal Judge Denies Joint Request by SEC, Ripple
US District Court for the Southern District of New York Judge Analisa Torres has denied Ripple and the SEC’s joint “indicative ruling” request to resolve the years-long lawsuit on procedural grounds. The court stated that the parties did not sufficiently present the legal grounds necessary to lift the August 2024 injunction. This development further delays reaching a conclusion in the XRP case.
Ripple Legal Director Stuart Alderoty stated that despite the decision, Ripple’s previous legal victories remain valid and that they will take the matter back to court. Legal experts stated that the parties should re-apply in accordance with the procedure. The SEC-Ripple case is seen as one of the most critical in the crypto world.
FTX Begins Second $5 Billion Payment to Creditors on May 30
FTX, the crypto platform in the bankruptcy process, is starting its second major round of payments to creditors on May 30, 2025. As part of this, a total distribution of over $5 billion is planned. The payments will be made via BitGo or Kraken within 1 to 3 business days.
This round covers claims over $50,000, and the payments are calculated based on the value of the digital assets on the date of FTX’s bankruptcy filing, which is the date of its collapse. The distribution rates vary by creditor type: Dotcom clients will receive 72%, US clients 54%, general creditors and digital asset lenders 61%, and small-cap creditors 120%. To participate in the distribution, users must complete procedures such as KYC verification, tax forms, and account creation on their chosen platform.
Central Bank of Russia: Bitcoin Is the Most Profitable Global Investment Since 2022
The Central Bank of Russia has rated Bitcoin as the most profitable investment vehicle since 2022 in a new analysis it published. According to the report, BTC has returned 38% in the last 12 months, while its cumulative return since 2022 has reached 121.3%. This performance has outpaced traditional investment vehicles such as gold, stocks, and bonds.
The bank also drew attention to Bitcoin’s short-term fluctuations, stating that it fell 18.6% in the first quarter of 2025. However, BTC regained its leadership in the market with an 11.2% recovery in April. The report also emphasized that Bitcoin has transformed from a speculative asset into a cornerstone of institutional portfolios. This transformation is being supported by spot ETF approvals and the Trump administration’s pro-crypto policies.
Wisconsin Pension Fund Sells $300 Million of Bitcoin ETF Stake
The Wisconsin State Investment Board (SWIB) has sold off its entire $300 million stake in BlackRock’s Bitcoin ETF IBIT in the first quarter of 2025. According to an SEC filing, the sale occurred before March 31 — just before the sweeping tariffs the U.S. enacted on April 2.
President Donald Trump’s new trade policies and tariffs of up to 145% on China have created panic in the market. Bitcoin has fallen below $75,000, while Ethereum has fallen to its lowest level in two years. The timing of the pension fund’s ETF sale is being interpreted as a risk-off move ahead of market uncertainty. Tensions eased somewhat in May after the US and China lowered tariffs.
Brazilian Fintech Méliuz Becomes Country’s First Bitcoin Treasury Company
Brazil-based fintech company Méliuz officially became a Bitcoin treasury company on May 15, with approval from its shareholders. The company purchased 274.5 Bitcoins (approximately $28.4 million) in this context, bringing its total BTC holdings to 320.3 BTC.
Chairman Israel Salmen stated that this step was not only a hedge against inflation, but was taken with the company’s strategic goal of increasing the value per Bitcoin. Méliuz, whose stock value has increased by 117% in the last 2 months, currently has a market value of $ 128 million and is positioned as the first public Bitcoin treasury company in Latin America.
———————————————————————————————
BITCOIN (BTC)
BTC is trading at $ 103,840 as of the morning hours, gaining 0.08%. Bitcoin entered a consolidation process with the support it received from the demand area in the $ 99,000 – $ 100,000 region. The rise that started from this region turned into a horizontal course at the $ 103,000 – $ 104,000 levels. The direction of the breakout of this horizontal structure will determine the route of the next movement. In case of an upward break, the 106,000 – 107,000 band can be targeted, while in case of a downward break, a drop back to the 100,000 level is possible. The fact that the price is stuck in a narrow range in the short term indicates that volatility will increase again with a break.
ETHEREUM(ETH)
ETH is priced at $2,566 with a 0.73% increase in value as of the morning hours. Ethereum has encountered resistance at $2,623 after the rise it started at $2,440. The price, which is trying to recover by taking support from $2,532, which is the 0.5 level according to the Fibonacci retracement, manages to hold above this level. This structure can create a flag/pennant formation within the consolidation, or it can start a new upward wave by breaking the 2,623 resistance. However, closing below 2.532 may lead to a deepening of the correction and 2.440 support may come to the fore.
RIPPLE(XRP)
XRP is traded at $ 2.4035 with a 0.66% increase in value as of the morning hours. XRP retreated to the 2.3630 support with the sales from the 2.6445 peak. Although there was an increase to 2.4073 with the reaction received from this level, the upward movement remained weak. The price continues to try to hold on to this support level. If the 2.3630 level is maintained, a recovery towards the 2.4834 resistance may be possible. However, if this level is retested and broken, the decline may deepen to the 2.2330 and 2.1139 supports. Price structure is currently at the decision stage at the critical support level.
AVALANCHE(AVAX)
AVAX is traded at $23.73 with a 0.96% increase in value as of the morning hours. AVAX seems to have eased the short-term bearish pressure with the reaction it received from the $23.03 support. This level is a strong horizontal level that previously acted as resistance and is now acting as support. The upward reaction of the price from this area and the failure to sustain below this level with consecutive pins indicate that buyers are active. The current price action may indicate a higher bottom formation, in which case a recovery towards the 24.50–25.10 band may be observed. However, closing below 23.03 may cause the decline to regain momentum.
SOLANA(SOL)
SOL is traded at $171.38 with a 1.25% increase in value as of the morning hours. Solana is trying to form a base around the 166.26 support after being rejected from the 176.27 resistance for the second time. The price, currently trading at 171.93, is consolidating in a narrow range. While the downside risk increases in the event of a loss of 166.26, maintaining this level could allow the price to head back to 176.27. These two levels are critical in terms of determining the short-term direction. A volumetric breakout outside the range will be decisive for the continuation or reversal of the trend.
