SoSo Daily May 20 | The U.S. Senate Advances Groundbreaking Stablecoin Legislation to Promote Digital Asset Regulation

After reviewing the overall crypto market situation, let's shift our focus to the top 5 token gainers of the day:
As of 06:00 on May 20, 2025, according to sosovalue, the top five gainers are:
Top 1 gainer is xPet.tech (XPET). As of 06:00 today, its coin price is 0.019330 USD, witnessing a 24-hour increase of 43%.
The second is Wasder (WAS). As of 06:00 today, its coin price is 0.00065930 USD, with a 24-hour increase of 42.2%.
The third is Serum (SRM). As of 06:00 today, its coin price is 0.017370 USD, showing a 24-hour increase of 41.7%.
In fourth place is REVOX (REX). As of 06:00 today, its coin price is 0.022200 USD, with a 24-hour rise of 34.4%.
In fifth place is Housecoin (HOUSE). As of 06:00 today, its coin price is 0.038700 USD, increasing by 33.6% over the last 24 hours.


Moving on, let's take a look at the sector performance in crypto market.
Acccording to sosovalue, out of 16 sectors, all 16 are up. Notably, $ETH, DeFi, and RWA sectors are worth mentioning.
$ETH sector has risen 7.55% relative to the UTC 0 time, led by gains in $ETH with a 7.55% increase.
DeFi sector has increased 6.47% relative to UTC 0, with SRM up 45.5%, AAVE up 23.4%, and UX up 19.7% leading the rise.
RWA sector has risen 5.52%, with KTA up 32%, MPL up 19.3%, and TOKEN up 15.3% leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:On Monday evening, the U.S. Senate voted to pass a procedural motion on groundbreaking legislation regarding stablecoins—the Guidance and Establishment of National Innovation for U.S. Stablecoins Act (GENIUS Act)—allowing for further debate. The bill requires stablecoins to be fully backed by U.S. dollars or similar liquid assets, mandates annual audits for issuers with a market capitalization exceeding 50 billion USD, and increases regulations concerning foreign issuers. Some Democratic senators supported the bill, while Senate Minority Leader Schumer and other Democrats voted against it. After passing the procedural motion, senators will vote on amendments to the bill and push for a final vote. The legislation aims to regulate the stablecoin market and promote the healthy development of blockchain technology, but it has also raised concerns about the relationship between Trump and cryptocurrencies. Meanwhile, Congress plans to advance broader digital asset regulatory legislation, with some lawmakers proposing to merge the stablecoin bill with the market structure bill.
Next news:

According to SoSoValue data, Bitcoin spot ETF saw a total net inflow of 667.44M USD yesterday (Eastern Time, May 19th).

The Bitcoin Spot ETF with the highest net inflow yesterday was BlackRock's ETF IBIT, with a daily net inflow of 305.92M USD, and the total historical net inflow of IBIT currently stands at 45.86B USD.

The second highest was Fidelity's ETF FBTC, with a daily net inflow of 188.08M USD, and the total historical net inflow of FBTC currently stands at 11.78B USD.

The Bitcoin Spot ETF with the highest net outflow yesterday was Invesco and Galaxy Digital's ETF BTCO, with a daily net outflow of 5.27M USD, and the total historical net inflow of BTCO currently stands at 106.16M USD.

As of the time of publication, the total net asset value of Bitcoin Spot ETFs is 124.97B USD, with an ETF net asset ratio (market capitalization relative to the total Bitcoin market cap) of 5.96%. The historical cumulative net inflow has reached 42.44B USD.

Source: https://sosovalue.com/zh/assets/etf/us-btc-spot

Next news:Wu Shuo learned that, according to crypto journalist Eleanor Terrett, the U.S. Senate voted to pass the "cloture motion" to end debate and move the GENIUS Act into formal consideration. At least 15 Democratic senators, including Cortez Masto, Adam Schiff, and Mark Warner, changed their positions to vote in favor. Despite Minority Leader Schumer casting a dissenting vote, the motion was successfully passed. The bill will now proceed to full deliberation.
Next news:Anza, a developer studio spun out of Solana Labs, has proposed Alpenglow, described as the biggest change to Solana's core protocol. This upgrade introduces a redesigned consensus mechanism replacing the existing TowerBFT proof-of-stake and proof-of-history systems with new components named Votor and Rotor. Votor handles consensus logic with a faster direct communication method for block finalization, potentially reducing block processing times to 100–150 milliseconds. Rotor improves block propagation by optimizing bandwidth and using erasure-coding for block reconstruction. Solana founder Anatoly Yakovenko praised Alpenglow for meeting key requirements of consensus efficiency and finality. Anza also maintains Solana's Agave client validator software.
Next news:

Circle submitted an IPO application in April 2025, targeting a valuation of 5 billion USD, but according to insiders from banks and private equity, Circle is in talks with Coinbase and Ripple regarding potential acquisition deals.

Ripple had proposed an acquisition offer ranging from 4 billion to 5 billion USD, intending to pay with XRP and cash, but it was rejected.

Previously, Coinbase CEO Brian Armstrong, when asked about acquiring Circle, stated that there are currently no deals to announce, but future transactions will depend on decisions from both parties. (Fortune)

Next news:According to Bloomberg, the U.S. Department of Justice has launched an investigation into the Coinbase data breach incident, which involves criminals bribing Indian customer service representatives to obtain customer data. Coinbase stated that it has reported the incident to the Department of Justice and other law enforcement agencies and estimates that the incident could result in losses of up to 400 million USD. The company said that since receiving an anonymous ransom email on May 11, it has terminated the employees involved and confirmed that some customer service representatives accessed data from internal systems in the past few months.
Next news:JamesWynnReal opened a long position with 40x leverage on 5,520 $BTC, with the position value reaching 570 million USD.
Next news:US SEC Delays Decision on Solana ETF Application
Next news:According to Foresight News and monitored by Lookonchain, a certain trader spent approximately 1.80 million USD to purchase over 30 types of tokens in the past 4 days, currently realizing a profit of over 100 thousand USD. Their main holdings include: 484,600 USD in LAUNCHCOIN, 265,300 USD in COLLAT, 124,500 USD in WIDI, 99,800 USD in BUIDL, and 85,800 USD in FITCOIN, among others.
Next news:Wu Shuo has learned that, according to an announcement by the U.S. Securities and Exchange Commission (SEC), Katherine Reilly has succeeded the retiring Deborah Jeffrey as the Acting Inspector General of the SEC. Reilly has been serving in the SEC Office of Inspector General since 2020 and has held legal and oversight positions at the Federal Trade Commission (FTC), the U.S. Postal Inspection Service, and the Department of Justice. She holds a law degree from the University of Texas and a Master of Laws from the University of Melbourne. In her new role, she will continue to promote regulatory efficiency and transparency at the SEC.

Okay that's all for today. Thank you for tuning in, and we hope you found it helpful. Visit sosovalue.com, our one-stop financial research platform for crypto investors, to stay abreast of the latest market trends and key information. Until next time, goodbye.