New York Attorney General Letitia James (D) wrote a letter to House and Senate leaders urging them to strengthen pending stablecoin bills to better protect investors, such as by regulating stablecoin issuers in a similar manner to banks and offering FDIC insurance on stablecoin deposits. James also called on lawmakers to strengthen national security by requiring issuers to use digital identity credentials, onshore stablecoin issuers, support community banks, and preserve state prudential supervisory authority.

The REX-Osprey Solana and Staking ETF (ticker SSK), the first US-staked crypto ETF, has reportedly been cleared for debut and plans to launch Wednesday. The fund will give investors direct exposure to spot SOL along with staking income. SSK would be the first ETF in the US that allows investors to earn rewards by deploying SOL tokens to help validate blockchain transactions. There are currently no ETFs holding SOL directly, and existing ETFs that track another crypto, ETH, do not offer staking.

Ripple Labs CEO Brad Garlinghouse said in a post on X that the company is dropping its appeal of an earlier court decision in its legal fight against the SEC, adding that the SEC is also expected to drop its appeal in the case. Garlinghouse stated that Ripple is "closing this chapter once and for all, and focusing on what's most important - building the Internet of Value. Lock in."

Trump Media and Technology Group filed paperwork with the SEC to launch an exchange-traded fund (ETF) that will invest in BTC and ETH. Yorkville America Digital is listed as the sponsor of the product. The proposed fund, dubbed the Truth Social Bitcoin and Ethereum ETF, aims to give investors an easy way to gain exposure to the two largest digital assets and serve as a "simple and cost-effective" alternative to using peer-to-peer networks or digital platforms.

World Liberty Financial, a crypto venture launched by President Trump and his sons, plans to invest in the president’s meme coin, resolving a dispute between the two crypto firms tied to the Trump family. Eric Trump announced that the $TRUMP token had "aligned" with the company and would no longer be moving forward with a crypto wallet, which had caused a rift between the two firms.

JPMorgan plans to begin offering trading and wealth-management clients the option of using crypto-linked assets as collateral for loans. According to people familiar with the matter, the firm will start providing financing against crypto exchange-traded funds (ETFs), beginning with BlackRock's iShares Bitcoin Trust. The move marks the latest effort involving crypto among the biggest US banks following the Trump Administration's efforts to remove regulatory barriers.

US District Judge Jennifer Rochon ordered the freeze of more than $57 million in proceeds from crypto project Libra, as a proposed class is alleging operators misled them into buying up the token with the help of an endorsement from Argentine President Javier Milei before it tanked. The temporary restraining order and preliminary injunction directs stablecoin issuer Circle to freeze more than $57.6 million of its dollar-pegged token USDC held in two wallets believed to be associated with the Libra project. Judge Rochon argued that freezing the assets is in the public interest since the litigation could lead to an award for the buyers, and any damage to the defendants is minimal since they will have the opportunity to challenge the order.

Trump Media and Technology Group announced that it has entered into agreements with approximately 50 institutional investors in order to raise $2.5 billion for a BTC treasury. The company plans to sell around $1.5 billion in stock and $1 billion in convertible bonds to buy BTC for its treasury. The offering is expected to close on or about May 29. Crypto.com and Anchorage Digital will provide custody for the BTC treasury, while Yorkville Securities and Clear Street are acting as lead placement agents for the offerings.

US District Judge Georgia Alexakis ruled against Jump Trading LLC, an early backer of failed crypto platform Terraform Labs, arguing the company cannot escape a lawsuit accusing it of propping up the company’s fraud by sending the case to arbitration. Judge Alexakis ruled against Jump Trading's efforts to send a proposed securities fraud class action to arbitration based on an agreement that users of the Terraform blockchain signed. Judge Alexakis ruled that Jump Trading was not a signatory to that agreement and thus could not enforce the arbitration clause.