🚨 What’s Hot in Web3: Crypto Trends Defining the Future

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CoinGape Media
June 21, 2025

đź“° News

Bill Morgan dismisses rumors circulating about the US government's potential seizure of XRP escrow for their national reserve.

Is the US Govt. Planning to Seize Ripple’s XRP Escrow?

In a recent development, multiple sources have cited increasing rumors about the US government’s possible acquisition of Ripple’s XRP escrow for the national reserve. Social media influencers like John Squire have hinted at the country’s potential move as part of its crypto reserve strategy.

However, XRP attorney Bill Morgan unequivocally shut down the rumors with a straightforward assertion, “No, it won’t.” Morgan effectively denied any government plans to seize Ripple’s XRP escrow, leaving no room for further speculation.

Other prominent voices on X, like Pumpius, have also cited rumors on the US government’s XRP move. He added that while the idea of the US confiscating XRP escrow may seem improbable, it could still materialize. Pumpius drew parallels with Bitcoin ETFs, which were once deemed unlikely but ultimately became a reality, suggesting that unexpected developments can and do occur. He stated, “U.S. authorities are exploring whether Ripple’s XRP escrow could be repurposed as part of America’s national financial reserves. Sound far-fetched? So did Bitcoin ETFs once.”

Notably, these speculations come following Ripple’s release of 1 billion XRP from escrow, as CoinGape reported earlier. Reportedly, the tokens were unlocked in three transactions: 500 million, 300 million, and 200 million XRP, valued at over $2.2 billion based on XRP’s market price at the time

Experts argue that the UK's crypto regulation is lacking, trailing behind the EU and US, which have already made significant progress.

US and EU Lead in Crypto Regulation, UK Falls Behind

In a recent blog post, John Orchard, chairman, and Lewis McLellan, editor of OMFIF’s Digital Monetary Institute, claimed that the UK is failing to keep pace with the EU and the US in crypto regulation.

On Friday, these experts argued via the blog entitled “The UK keeps missing the boat on DLT finance” that the UK failed to deliver on its promise to set a premier standard for crypto regulation post-Brexit, instead making vague promises about future action. While they claim that the country’s digital finance sector has stalled, they attribute its root cause to “policy procrastination.”

Furthermore, the experts highlight that the UK has squandered its pioneering lead in distributed ledger (DLT) finance. They wrote, “The UK was the blockchain future once… Talk of shaping UK regulation for global leadership has since disappeared.”

While the UK is lagging, both the US and the EU have already taken significant strides in crypto regulation. The European Union’s MiCA framework and the US’s GENIUS Act are moving forward. But the UK’s Financial Conduct Authority remains silent, without a confirmed crypto regulatory update. This lack of clarity is hindering the UK’s ability to adapt to the shift towards on-chain finance.

đź“Š Markets

📢 Crypto Market Will Nuke, Says James Wynn While Extending His BTC Short Position

James Wynn has built a $70 million short position on Bitcoin, expecting a market crash amid escalating Iran-Israel conflict.

James Wynn Expects Crypto Market Crash Ahead

Amid the unfolding geopolitical scenario with the Iran-Israel conflict, there’s an emerging debate on Fed rate cuts and market liquidity, with Governor Christopher Waller stating that rate cuts are coming next month itself. However, Jerome Powell has indicated no intentions of rate cuts during the recent FOMC meeting earlier this week.

However, considering the current macro conditions and emerging war in the Middle East, James Wynn believes that the crypto market will nuke. He said that with Powell refusing to fling, retail market participation is declining, liquidity crunch, rising Middle East tensions, the overall scenario looks fragile. In his message on the X platform, Wynn noted:

“If USA gets involved that is a declaration of a world war. In my opinion. Other countries will get involved and side with Iran. Tensions will rise. Markets will nuke. AND THEN we will get rate cuts and mass money printing. Ladies and gents, we are heading into the great reset. Crypto will win. But, lower, before higher”.

Shiba Inu price tests support at a descending triangle channel that could trigger a 50% crash. Will the surging SHIB burn rate aid recovery?

Shiba Inu Price Faces 50% Drop as it Tests Key Support

The weekly SHIB price chart shows that this top meme token has been on a steep decline for more than one year, but it keeps defending the support level at $0.0000113. By defending this support despite the downward price movement, SHIB has formed a descending triangle pattern.

A descending triangle is often bearish as it shows that sell-side pressure has been gradually rising while buyers remain on the sidelines. If Shiba Inu price falls below $0.0000113, it could crash by 50% to a multi-year low of $0.0000054.

Falling below $0.00001 could be detrimental to the SHIB price performance, as adding one more zero could weaken investor confidence.

The odds of a 50% crash happening are also amplified by the 50-day SMA of $0.0000169. Shiba Inu price is around 54% below this SMA, and it needs to crossover above it to confirm that the short-term momentum has shifted to bullish. This SMA level also lies at the upper trendline of the descending triangle.

The RSI also confirms that the Shiba Inu price forecast is bearish, with its reading of 39 showing aggressive selling behaviour. This also indicates that buyers are not willing to buy the dip despite the price recording a steady decline for more than a year.

The bearish technicals evident on the weekly timeframe match a previous CoinGape article that noted that the SHIB MVRV formed a death cross. This formation shows that short-term holders are beginning to realize losses.