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Key takeaways:Galaxy Digital plans to begin trading on the Nasdaq on May 16, pending shareholder and Nasdaq approval.Nasdaq-listed crypto firms posted strong gains in April after a period of macroeconomic uncertainty.Galaxy CEO Mike Novogratz says the listing will broaden the company’s investor base and US presence.The Toronto Stock Exchange (TSX) listed crypto investment firm Galaxy Digital is set to move to the US-based Nasdaq on May 16, pending stakeholder approval at its upcoming shareholders meeting.Galaxy’s planned move comes as several Nasdaq-listed crypto firms saw substantial gains in April, following a turbulent few months of macroeconomic uncertainty.Galaxy founder and CEO Mike Novogratz said on April 30 that the listing would be a milestone “that would position us to advance our vision of building a gateway for investors to safely and efficiently access every corner of the digital asset and artificial intelligence ecosystems.”Nasdaq listing will widen Galaxy’s investor baseA special Galaxy shareholders’ meeting is scheduled for May 9 to seek final approval for the move, with Nasdaq also needing to offer its approval before listing the crypto firm.The company plans to use the ticker symbol GLXY on the Nasdaq, and if it goes ahead with the listing, will enter a transition period during which it will continue to trade on the TSX, on which it first listed in July 2020.Galaxy is down 12.28% on the TSX so far this year amid a broader market downturn, according to Google Finance data.GLXY is own 12.28% since Jan. 1 on the Toronto Stock Exchange. Source: Google FinanceMeanwhile, the Nasdaq 100 is down 7.33% so far in 2025, according to TradingView data. However, it held steady in April, with some commentators downplaying the recent bearish sentiment.Novogratz is widely known as a pro-crypto advocate and Bitcoin (BTC) bull. It was reported on April 17 that Galaxy Ventures Fund I LP is expected to raise around $175 million to $180 million by the end of June to build a portfolio of 30 crypto and blockchain startups.Crypto entrepreneur Anthony Pompliano said in an April 30 X post that “the Nasdaq 100 ended April up more than 1%, and people are still talking about the Great Depression.” “Insane,” Pompliano added.Related: Bitcoin ‘aging’ chart projects sixfold BTC price rally above $350KSeveral crypto-related firms listed on the Nasdaq have posted gains over the past month, following broader market turbulence due to macroeconomic uncertainty stemming from Trump’s tariffs.Crypto exchange Coinbase (COIN) is up 17.80%, Michael Saylor’s Strategy (MSTR) is up 31.86%, and Bitcoin mining firm CleanSpark (CLSK) is up 21.58%, according to Google Finance data.Magazine: TV hit Peaky Blinders to launch crypto game, FIFA Rivals on Polkadot: Web3 GamerThis 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.

Nearly 30 crypto advocate groups led by the lobby group the Crypto Council for Innovation (CCI) have asked the Securities and Exchange Commission for clear regulatory guidance on crypto staking and staking services.The CCI’s Proof of Stake Alliance (POSA) group argued in an April 30 letter to the agency’s Crypto Task Force lead, SEC Commissioner Hester Peirce, that staking is fundamentally a technical process, not an investment activity. “Staking isn’t niche — it’s the backbone of the decentralized internet,” the letter said. The letter responded to the SEC’s call for public input on whether staking and liquid staking, where crypto users lock up their tokens to earn more, should be regulated under federal securities laws.The coalition called for the SEC to support responsible inclusion of staking features in exchange-traded products (ETPs), and “avoid overly prescriptive rules that could freeze market structures and stifle innovation in the staking space.”The group argued that staking fails to meet the securities-defining Howey test definition of an “investment contract” as stakers retain ownership of their assets.Source: Crypto Council for InnovationThey added that blockchain protocols, not a staking provider’s efforts, determine rewards, and providers don’t deliver profits through managerial decisions like a company does. The letter requested that the SEC Issue principles-based guidance similar to recent SEC staff statements on proof-of-work mining.“In the past 4 months, we’ve seen more movement and constructive dialogue with the SEC than in the past 4 years,” the group said. “Now, the industry is stepping up with concrete principles to include in guidance — a reflection of this new collaborative approach.”Related: Ethereum ETF staking will have little impact without multimonth rally: AnalystThe group argued that the existing securities disclosure regime is ill-suited for staking services, which are fundamentally technical rather than financial in nature. Big names in support of staking clarity The Proof of Stake Alliance includes several high-profile crypto organizations and companies, including the venture capital firm Andreessen Horowitz (a16z), blockchain software firm Consensys, and the crypto exchange Kraken, which restored staking services in the US earlier this year.The SEC has yet to approve a crypto staking exchange-traded fund (ETF) and delayed the decision on allowing staking for Grayscale’s spot Ether ETF on April 14.In April, Bloomberg ETF analyst James Seyffart predicted that an Ether ETF that includes staking could come as soon as May.Magazine: ZK-proofs unlock trillions in Bitcoin for DeFi — BitcoinOS and Starknet

About one in four crypto tokens launched since 2021 have failed in the first quarter of this year amid a crypto market downturn and token creation becoming easier than ever, says crypto data platform CoinGecko.Since 2021, nearly 7 million cryptocurrencies have been listed on CoinGecko’s token tracking tool GeckoTerminal, and over half, or 3.7 million tokens, “have since stopped trading and are considered failed,” CoinGecko research analyst Shaun Paul Lee said in an April 30 report.“Alarmingly, the first quarter of 2025 alone saw the collapse of 1.8 million tokens,” he added, which is “the highest number of failures recorded in a single year.” It also comprises just under half of all failures and represents a quarter of all tokens launched since 2021.CoinGecko recorded tokens with at least one trade before going defunct and only Pump.fun tokens that graduated, or completed the token creation platform’s bonding curve.There are more crypto tokens than ever, but many are failing to survive in the long term. Source: CoinGeckoLee linked the recent token die-off to “broader market turbulence” after Donald Trump’s inauguration in January, which saw Bitcoin (BTC) hit a peak high but was followed by a sharp downturn in the crypto market.More crypto tokens used to survive Last year saw the second-highest number of token failures at 1.3 million, and in comparison, Lee said that the three previous years had a much lower attrition rate.Lee attributed the ballooning number of tokens and their failures to the token creation tool Pump.fun, “which simplified the process of creating tokens, leading to a flood of memecoins and low-effort projects entering the market.”Pump.fun went online in January 2024. CoinGecko’s report shows that last year had the largest number of new crypto tokens with over 3 million launched, compared to 2023, which saw just over 835,000.“Before the launch of Pump.fun in 2024, cryptocurrency failures numbered in the low six digits. Project failures between 2021 and 2023 made up just 12.6% of all cryptocurrency failures over the past five years,” Lee said.Prior to 2024, crypto token failure rates were relatively low. Source: CoinGecko Pump.fun’s graduation rate, where token trading moves off the site, has never been particularly high, with roughly 98% of tokens failing. The platform’s best-performing week so far was in November 2024, when 1.67% of memecoins moved on to the open market.Related: AI tokens, memecoins dominate crypto narratives in Q1 2025: CoinGeckoCoinGecko founder Bobby Ong said in a March 6 report that memecoin investor interest appears to have cooled after a series of bad launches, noting the fallout from the Libra (LIBRA) token launch.Pump.fun had a weekly trading volume high after the launch of Trump’s memecoin on Jan. 18, but both crypto and stock markets were hit with extreme volatility starting in March following Trump’s threats of sweeping tariffs.Magazine: Memecoins are ded — But Solana ‘100x better’ despite revenue plunge

Key takeaways:XRP ETF approval odds rise to 85% following a SEC leadership change.Analysts predict XRP could rise to new all-time highs again in 2025.XRP price dropped by 5% over the past 24 hours as US GDP data showed a shrinking economy. However, a strengthening market structure and investors’ growing hope for a spot XRP ETF approval in the United States suggest that the altcoin might revisit its April peak at $2.36 in the short term. XRP/USD daily chart. Source: Cointelegraph/TradingViewTechnical charts currently show XRP (XRP) trading within a falling wedge pattern. A “falling wedge” is a bullish reversal chart pattern that comprises two converging trend lines that connect lower lows and lower highs. This convergence indicates weakening downward momentum. The pattern will resolve when the price breaks above the upper trendline at $2.40, and if this happens, buyers could target $3.74 next, representing a 71% increase from the current price.XRP/USD daily chart. Source: Cointelegraph/TradingViewThe relative strength index (RSI) is above the midline, indicating that the market conditions still favor the upside.However, to sustain the ongoing recovery, XRP price has to first hold the support at $2.20 and then overcome the resistance between $2.80 and $3.00.Several analysts remain optimistic about the altcoin’s ability to rebound to all-time highs, with popular trader Dark Defender saying that the ongoing correction is part of an Elliott Wave pattern that will eventually see “XRP continue its climb to the top.”Fellow trader Allincrypto believes XRP is “heading to $19.27” based on a breakout from a falling wedge pattern.“Where we are pulling back is textbook perfect, and we had highlighted a falling wedge that was present on XRP that ultimately was just going for a continuation to $19.27.”Related: What are XRP futures and how to invest in them?Approval odds for an XRP ETF approval in 2025 riseBloomberg senior ETF analysts said that the five spot XRP ETFs, including Grayscale, 21Shares, WisdomTree, Bitwise, Canary, and Franklin Templeton, have an 85% chance of approval after the change in leadership at the US Securities and Exchange Commission (SEC).This is a significant improvement from their prediction over two months ago that set the chances of an XRP approval in 2025 at 65%.Source: Eric BalchunasSimilarly, the betting odds for an XRP ETF approval by Dec. 31 now stand at 80% on Polymarket. Over the past week, the probability of approval has swung 17% in favor of the bullish masses, which was around 63% on April 23.XRP ETF approval odds on Polymarket. Source: PolymarketMeanwhile, on April 29, the SEC postponed its decision on Franklin Templeton’s spot XRP ETF, setting a new review deadline on June 17.The approval of these ETFs could unlock institutional capital, amplifying demand for the XRP. While approval timelines remain unclear, they would mark a step toward mainstream adoption for XRP.This 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.

Trading platform Robinhood has still managed to beat Wall Street estimates as its first-quarter revenues fell and its crypto trading volume cooled from a record high in Q4.Robinhood’s Q1 results shared on April 30 show revenues fell 8.6% from the previous quarter to $927 million, topping Zacks analyst estimates by 3.16%.The company’s crypto revenue plummeted nearly 30% quarter-on-quarter to $252 million from the firm’s record-setting Q4 2024.  The drop could be partly attributed to the Trump administration’s tariffs, which triggered an 18% fall in the crypto market cap over the quarter.Crypto trading volume on Robinhood also fell 35% over Q1 compared to the fourth quarter of 2024, which the firm attributed to a 10% drop in customer trades placed and a 27% fall in average notional volume per trade.Robinhood CEO Vladimir Tenev said on an earnings call that crypto trading volumes would continue to fluctuate but the firm is more focused on capturing as much market share as possible.Despite the fall from last quarter, Robinhood’s crypto revenue rose 100% from the same quarter a year ago, while trading volumes jumped 28% over the same period.Robinhood’s quarterly revenues by segment since Q1 2023. Source: RobinhoodThe firm also added $500 million to its now $1.5 billion buyback authorization program, aimed at boosting shareholder value and confidence in the firm’s financial health. The company has bought back $667 million worth of shares so far.Shares in Robinhood (HOOD) rose 1.51% in after-hours trading on April 30 to $49.85 since the firm disclosed its Q1 results, Google Finance data shows. Tenev said Robinhood’s $200 million acquisition of Bitstamp crypto exchange is still looking likely to receive regulatory approval in the middle of 2025, which would enable it to serve institutional investors in the US.Regulatory pressure also eased for Robinhood in Q1 after the Securities and Exchange Commission closed its investigation into the firm’s crypto business on Feb. 21.Crypto tokenization remains a key focus for RobinhoodTenev said Robinhood is still exploring integrating crypto tokenization into the company’s services.Tokenizing private equities is a “huge unlock” for both individuals and companies that can solve a lot of problems in secondary market transactions, he said.Related: Ripple $4B-$5B bid to purchase Circle rejected — Report“I think that will unlock a ton of economic value for the crypto industry in the US,” Tenev said. The Robinhood CEO previously said crypto tokenization could let investors buy tokenized shares in big-name private firms like OpenAI and SpaceX within minutes.“That’s been kind of our primary policy objective in Washington when it comes to crypto,” Tenev said.Magazine: ZK-proofs unlock trillions in Bitcoin for DeFi — BitcoinOS and Starknet