In a significant policy statement, the Executive Director of Digital Assets under President Trump declared that cryptocurrency represents "the next generation of finance." This pronouncement underscores the administration's commitment to integrating digital assets into the broader financial system, aligning with previous executive orders aimed at bolstering the U.S. crypto industry .

Coinbase Joins S&P 500 Amidst Data Breach

Coinbase has been selected to join the S&P 500 index, marking a milestone as the first crypto-native company to be included. The inclusion is set to take effect on May 19, replacing Discover Financial Services .

However, the company faces challenges due to a recent cyberattack. Hackers bribed overseas support staff to access sensitive customer data, including names, contact details, and partial social security numbers. While no customer funds were compromised, the breach could cost Coinbase up to $400 million in remediation and reimbursements . Coinbase has refused to pay a $20 million ransom demanded by the attackers and is cooperating with law enforcement.

U.S. and China Agree to 90-Day Tariff Ceasefire

The United States and China have agreed to a 90-day suspension of certain tariffs, aiming to de-escalate ongoing trade tensions. The U.S. will reduce tariffs on Chinese goods from 125% to 10%, while China will lower tariffs on U.S. goods from 145% to 30% . This temporary truce provides an opportunity for both nations to negotiate more comprehensive trade agreements.

Bitcoin ETF Flows: Back n’ Forth Action as Price Holds Firm

Bitcoin ETFs delivered a mixed but ultimately positive week. The weakest session came on May 13, with net outflows totaling $91.4 million, solely due to significant redemptions from Fidelity. However, sentiment turned quickly. On May 14, ETFs recorded strong inflows of $319.5 million, led by BlackRock’s IBIT, which added $232.9 million alone. May 15 closed the week with an additional $114.9 million in net inflows, though pressure remained on providers like Bitwise and Ark, which both saw continued selling. Despite the choppy flows, Bitcoin maintained strength above the $103,000 level, showing resilience in the face of shifting institutional positioning.

Ethereum ETF Flows: Modest Uptick Amid Mixed Signals

Ethereum ETF flows started the week on Monday, May 12, with a net outflow of $17.6 million, driven largely by Grayscale (~$9.6M) and Fidelity (~$8.0M). On May 13, flows turned positive, with a modest $13.5 million entering the market, thanks to small inflows across Fidelity, VanEck, and Franklin products. The strongest day of the week came on May 14, when BlackRock’s ETHA brought in $57.6 million, boosting the daily total to $63.5 million. However, sentiment faltered again on May 15, as Grayscale (~$16.6M) and Fidelity (~$31.6M) led the way to a net outflow of $39.8 million. In total, Ethereum ETFs ended the week with a slight net outflow of $17.4 million, even as ETH’s price climbed over 12%, likely supported by retail interest and DeFi market activity rather than ETF inflows.

Solana Trading Competition Launches on Metal X with over 1M XPR in Prizes

To celebrate the launch of Solana (XSOL) on the Metal X DEX, a 4-week trading competition is now live with a 1,000,000 XPR prize pool and free trading incentives. Running from May 12 to June 12, the competition rewards the top three traders by total volume on the XSOL/XMD pair, with first place taking home 600,000 XPR and a full year of free trading. Participants can trade manually or use the dex-bot grid trading tool to automate their strategy and stay competitive around the clock. No registration is required… just start trading on the XSOL/XMD market to climb the leaderboard. Final rankings and prizes will be distributed by June 30, and updates will be posted via @MetalXApp on X. For more information view the official announcement here.

Top Gainers This Week – LOAN Protocol Surges

The “top gainers” this week on Metal Pay were led by LOAN Protocol (LOAN), which soared 19.9% as governance momentum and upcoming lending expansions drew in fresh interest. Dogecoin (DOGE) posted another strong week, rising 13.0%, while Ethereum (ETH) matched sentiment with a 12.4% gain driven by broader market strength. Litecoin (LTC) and XRP also posted positive returns, up 3.8% and 3.3% respectively. For the second consecutive week, every listed asset tracked on Metal Pay closed in the green… a clear signal that market sentiment remains bullish across majors, memecoins, and DeFi protocols.

These coins and more available for trading on Metal Pay.