CFTC joins tokenization pilots to learn crypto’s real-world impact
The US Commodity Futures Trading Commission (CFTC) will watch tokenization pilots to assess crypto’s real-world impact.
Caroline D. Pham, acting chairperson of the CFTC, spoke at the Medici Conference, and she said they intend to monitor multiple tokenization pilot schemes . She noted that they must understand how tokenized securities can function within legacy financial infrastructure and ensure that laws are written to support that vision. Through studying these pilots, the CFTC wants to gain technological expertise that could help provide input on future regulations.
The agency’s observer role signifies a proactive approach to engaging with emerging financial technologies without direct market intervention. The approach permits the CFTC to closely watch developments without giving up its regulatory oversight.
The CFTC wants to learn more about the practical impact of tokenized assets and how they operate in the real world.
In an interview at the Medici Conference with Journalist Eleanor Terett, Pham argued that they wanted to understand tokenization tech.
Terett even posted on X:
CFTC plans to be an observer on a handful of industry tokenization pilot programs in order for the agency to learn first hand how well-tokenized assets can function in the real world and gain experience with the technology.
Eleanor Terett
Responding to Terett’s post, most crypto members seemed pleased with the CFTC’s initiative, with some arguing that it’s the best approach. The Department of Government Efficiency also commented on the matter, posting an automated message on X. It described the CFTC’s decision as smart, saying that using stablecoins as collateral could modernize financial systems and reduce bureaucratic insufficiencies.
In February, the CFTC announced it would hold a CEO forum to discuss a pilot program focused on non-cash collateral like stablecoins. The forum would include Circle, Coinbase, Crypto.com, MoonPay, and Ripple’s leaders.
Back then, Pham insisted that the agency was geared toward innovation and would engage with market participants to achieve Trump’s crypto agenda.
In September 2023, she also suggested having a pilot initiative focused on regulating crypto. In her proposal, she detailed they would start discussions with multiple stakeholders, and then the agency would propose and adopt rules around registration requirements and risk management. Then, the agency would assess whether to modify the rules permanently.
Last year, The CFTC’s Global Markets Advisory Committee (GMAC), sponsored by Acting Chairman Pham, also proposed expanding the use of non-cash collateral through distributed ledger technology. At the time, Pham believed the GMAC’s recommendation on tokenized non-cash collateral represented a meaningful first step toward achieving regulatory clarity for digital assets in the U.S. She said this development would help unlock opportunities for the derivatives markets while maintaining the same guardrails and protections already in place.
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3 Things That Could Prevent a Bitcoin All-Time High This Year
Bitcoin and crypto markets could face headwinds preventing new peaks if certain scenarios play out, wrote Bitcoin researcher and author Timothy Peterson.
The economist provided the analysis to counter his bullish prediction that BTC could reach $135,000 in the next three months or so. Continued poor or declining sentiment could impact crypto markets should things not improve soon.
The UMich consumer sentiment survey is bad, trending worse, while the AAII investor sentiment is 20% bullish, 60% bearish, “a huge gap and also trending worse,” he observed .
Meanwhile, the NAAIM Equity Exposure index is a respectable 60% allocation to equity, “but still well below the 80% associated with bull markets,” he said.
The Federal Reserve could also impact Bitcoin prices since markets have already priced in approximately three rate cuts for the remainder of 2025.
“Risk assets have rallied on the expectation that looser monetary policy will return, boosting liquidity and supporting higher multiples,” he said before adding Bitcoin’s recent strength reflects this forward-looking optimism.
However, if the Fed fails to deliver these cuts, the market narrative will shift, choking these speculative flows.
“For Bitcoin, which thrives on liquidity and risk appetite, the absence of rate cuts could stall momentum or even trigger a drawdown.”
The Fed is expected to keep rates unchanged at its meeting on Wednesday, May 7.
Finally, event risk, or unforeseen macro-level shocks that cannot be predicted in timing or magnitude, can cause severe disruption to financial markets.
“For Bitcoin, these risks bypass conventional forecasting tools and risk models, creating sharp breaks from trend behavior.”
Peterson cited examples that included nuclear accidents, large-scale terrorist attacks on critical infrastructure, cyberattacks on financial systems, another pandemic, or massive natural disasters.
Bitcoin behaves like a “high-beta asset” under these conditions, “subject to indiscriminate selling, access limitations, and temporary narrative collapse,” he said , concluding the analysis on May 5.
Doom and gloom aside, Bitcoin was still trading within its rangebound channel, where it has been for the past fortnight.
The asset has swung from below $93,750 in late trading on Monday to retap $95,000 during Tuesday morning trading in Asia.
BTC had retreated slightly at the time of writing when it was changing hands for $94,380, according to CoinGecko.
Crypto News Today: Bitcoin, Ethereum, and Top Altcoins in May 2025
The global crypto market kicks off May 2025 in a state of cautious optimism. While top coins are facing short-term pullbacks, investor sentiment is improving, and new developments suggest growing institutional confidence and increased retail participation. Let's break down the key movements across major cryptocurrencies, regulatory updates, and projections for the month ahead.
Bitcoin is trading around $94,230, slightly down by 1.5% over the past 24 hours. Despite the dip, analysts believe BTC could rise toward $105,000 this month as accumulation continues among large holders. Strategy™ (formerly MicroStrategy) has boosted its BTC reserves to over 555,000 coins, while Marathon Digital has reported growing mining capacity. These institutional moves reinforce long-term confidence in Bitcoin’s value proposition.
Ethereum is holding steady near $1,813, with a minor dip of around 1%. But the real story is the dramatic drop in gas fees. With average gas costs around 0.563 gwei, Ethereum transactions are now more affordable than ever. This follows the successful Dencun upgrade, which improved scalability and lowered Layer-1 congestion. The reduced transaction cost could attract developers and users back to Ethereum’s mainnet, potentially boosting network activity throughout May.
XRP is trading at $2.14, showing a 1.8% decrease, but the trend may soon shift. Technical analysts point to an approaching price recovery, with targets around $2.35. After months of consolidation, XRP is reclaiming key support zones and is being closely watched by traders anticipating a breakout.
Cardano has slipped to $0.66, down nearly 4%, but forecasts for a rebound toward $0.75 remain on the table. ADA has seen declining trading volume, yet long-term holders appear unfazed. The network continues to expand its ecosystem with new DeFi and NFT integrations, which could provide fuel for a price recovery later in the quarter.
In the U.S., proposed crypto regulations are stalling. A major crypto bill lost support from several lawmakers over concerns related to money laundering and systemic risk. Meanwhile, controversy surrounds a UAE-backed plan to use a Trump-affiliated token to purchase a $2 billion stake in Binance , raising global regulatory questions.
On the darker side, crypto-related crime is back in the spotlight after a violent kidnapping case involving a crypto millionaire in Paris. Security remains a major concern as criminals continue to target high-net-worth individuals in the space.
The Crypto Fear & Greed Index has shifted from "Fear" to "Greed," reflecting a more bullish market mood. While daily volatility remains, projections for Bitcoin and Ethereum point to modest gains, and altcoins like XRP and Cardano are being watched for possible breakout patterns.
Overall, May could mark a turning point, setting the tone for Q2 performance across the market. With improving fundamentals and clearer regulation on the horizon, the crypto market may be gearing up for its next leg higher.
The global crypto market kicks off May 2025 in a state of cautious optimism. While top coins are facing short-term pullbacks, investor sentiment is improving, and new developments suggest growing institutional confidence and increased retail participation. Let's break down the key movements across major cryptocurrencies, regulatory updates, and projections for the month ahead.
Bitcoin is trading around $94,230, slightly down by 1.5% over the past 24 hours. Despite the dip, analysts believe BTC could rise toward $105,000 this month as accumulation continues among large holders. Strategy™ (formerly MicroStrategy) has boosted its BTC reserves to over 555,000 coins, while Marathon Digital has reported growing mining capacity. These institutional moves reinforce long-term confidence in Bitcoin’s value proposition.
Ethereum is holding steady near $1,813, with a minor dip of around 1%. But the real story is the dramatic drop in gas fees. With average gas costs around 0.563 gwei, Ethereum transactions are now more affordable than ever. This follows the successful Dencun upgrade, which improved scalability and lowered Layer-1 congestion. The reduced transaction cost could attract developers and users back to Ethereum’s mainnet, potentially boosting network activity throughout May.
XRP is trading at $2.14, showing a 1.8% decrease, but the trend may soon shift. Technical analysts point to an approaching price recovery, with targets around $2.35. After months of consolidation, XRP is reclaiming key support zones and is being closely watched by traders anticipating a breakout.
Cardano has slipped to $0.66, down nearly 4%, but forecasts for a rebound toward $0.75 remain on the table. ADA has seen declining trading volume, yet long-term holders appear unfazed. The network continues to expand its ecosystem with new DeFi and NFT integrations, which could provide fuel for a price recovery later in the quarter.
In the U.S., proposed crypto regulations are stalling. A major crypto bill lost support from several lawmakers over concerns related to money laundering and systemic risk. Meanwhile, controversy surrounds a UAE-backed plan to use a Trump-affiliated token to purchase a $2 billion stake in Binance , raising global regulatory questions.
On the darker side, crypto-related crime is back in the spotlight after a violent kidnapping case involving a crypto millionaire in Paris. Security remains a major concern as criminals continue to target high-net-worth individuals in the space.
The Crypto Fear & Greed Index has shifted from "Fear" to "Greed," reflecting a more bullish market mood. While daily volatility remains, projections for Bitcoin and Ethereum point to modest gains, and altcoins like XRP and Cardano are being watched for possible breakout patterns.
Overall, May could mark a turning point, setting the tone for Q2 performance across the market. With improving fundamentals and clearer regulation on the horizon, the crypto market may be gearing up for its next leg higher.
LikeCoin社群媒體數據
過去 24 小時,LikeCoin社群媒體情緒分數是 3,社群媒體上對LikeCoin價格走勢偏向 看漲。LikeCoin社群媒體得分是 0,在所有加密貨幣中排名第 750。
根據 LunarCrush 統計,過去 24 小時,社群媒體共提及加密貨幣 1,058,120 次,其中LikeCoin被提及次數佔比 0%,在所有加密貨幣中排名第 1192。
過去 24 小時,共有 217 個獨立用戶談論了LikeCoin,總共提及LikeCoin 5 次,然而,與前一天相比,獨立用戶數 增加 了 3%,總提及次數減少。
Twitter 上,過去 24 小時共有 0 篇推文提及LikeCoin,其中 0% 看漲LikeCoin,0% 篇推文看跌LikeCoin,而 100% 則對LikeCoin保持中立。
在 Reddit 上,最近 24 小時共有 7 篇貼文提到了LikeCoin,相比之前 24 小時總提及次數 減少 了 13%。
社群媒體資訊概況
3