The crypto market saw moderate movement today. The total market cap is $3.64 trillion, with trading volume reaching $149 billion in the last 24 hours. Bitcoin remains dominant with 60.6% of the market, while Ethereum holds 8.84%, as per CoinGecko. But behind the numbers, several big developments have shaken the community, from hacked DeFi apps and ETF delays to controversial meme coins.
Let’s break down what happened in crypto today:
The U.S. SEC has once again delayed its decision on spot ETFs for Litecoin and XRP, now pushing the deadline to August 24. CoinShares, the firm behind the proposal, has to wait as the SEC wants more public feedback before making any moves. This delay follows similar postponements for ETF filings by Grayscale, Bitwise, and others.
While some in the crypto community support a slow and careful approach, others are tired of waiting. Many analysts still believe that spot ETF approvals may come by the end of 2025. According to Polymarket, there is currently a 79% chance that a Litecoin ETF will be approved by year-end.
A major DeFi app, Cetus Protocol on the Sui network, was hacked, with reported losses crossing $260 million. This news caused the SUI token price to fall by 7% in just one day. As fear spread, trading volume for SUI jumped more than 172%. The project took to X to share the hack details.
Source: X
Investors are now very cautious. Unless the Sui team fixes the problem quickly and restores trust, analysts warn that the price may fall further — possibly down to $3.00–$2.80 levels. A strong response is needed to avoid more damage.
Volatility Shares launched a new XRP futures ETF called $XRPI on Nasdaq. This lets traders gain exposure to XRP without owning the actual coin. There’s also a 2x leveraged version called $XRPT for advanced users.
This move is seen as a big step toward more regulated crypto investments. It simplifies access for stock market investors and may open the door for future spot XRP ETFs and similar products.
A new meme coin, Trump Dinner Coin (DINNER), jumped by over 1500% following a private event. But many are warning that it’s likely a scam. The token launched right before the dinner, has weak transparency, no official connection to Donald Trump, and a shady social media presence.
Source: CoinMarketCap
Although it reposts content from the original TRUMP Coin project, there is no proof of any real partnership. Experts are warning crypto investors not to fall for the hype.
Top Senate Democrats are working to amend the GENIUS Act, which aims to regulate stablecoins, to prevent U.S. presidents from financially benefiting from them. This move comes after concerns about Donald Trump’s ties to World Liberty Financial, the issuer of the USD1 stablecoin.
Senator Jeff Merkley warned that if no changes are made, the bill could help Trump profit from crypto without oversight. The stablecoin launched in March, and some critics think Trump and his sons could gain from its regulatory support.
Today’s events show how quickly things can change in the crypto world. From major ETF delays and hacks to controversial new tokens, both traders and investors need to stay alert. While some updates open new doors—like the XRP ETF—others remind us of the risks involved. As always, the crypto community waits for better clarity, stronger rules, and more secure platforms moving forward.
Also read: CEX.IO Power Tap Daily Quiz Answer Today 24 May 2025: Win Big!
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