SoSo Daily Apr 25 | The U.S. SEC delays the approval of Polkadot and Hedera crypto ETFs, extending the decision deadline to June.

Moving on, let's take a look at the sector performance in crypto market.
Acccording to sosovalue, out of 15 sectors, 13 are up and 3 are down. Notably, AI, Layer2, and RWA sectors are worth mentioning.
AI sector has risen 4.89% relative to the UTC 0 time, led by gains in AVA (30.3%), MASA (22.5%), and OCEAN (16.4%).
Layer2 sector has increased 4.71% relative to UTC 0, with MERL (21.7%), ZORA (20.5%), and STX (13.2%) leading the rise.
RWA sector has risen 3.48%, with LTO (10.6%), PRCL (7.06%), and ONDO (6.81%) leading the rise.

Let's go through the Crypto news worth paying attention today according to sosovalue:
The first is:The U.S. Securities and Exchange Commission (SEC) has postponed its decision on cryptocurrency fund exchange-traded fund (ETF) proposals based on Polkadot and Hedera. The SEC has extended the review deadline for Grayscale's Polkadot Trust conversion proposal and Canary's HBAR ETF listing proposal to June 11, which was originally scheduled to be decided by the end of this week. At the same time, decisions on Bitwise's Bitcoin and Ethereum ETFs have also been delayed to June 10. The SEC stated that the extension is to allow sufficient time to consider the proposals and related issues. Since early 2024, the SEC has shown a more open attitude towards the crypto industry, approving the listing of spot Bitcoin and Ethereum ETFs, and plans to hold a roundtable discussion on crypto custody in the near future.
Next news:CME Group plans to launch XRP futures within a month, pending regulatory approval by the Commodity Futures Trading Commission (CFTC). This would be the fourth cryptocurrency futures product on CME, joining $BTC, $ETH, and SOL. The contracts will include a micro-sized (2,500 XRP) and a larger-sized (50,000 XRP) option, both cash-settled using the CME CF XRP-Dollar Reference Rate. XRP, with a market cap over $127 billion, is the fourth-largest cryptocurrency and is closely associated with Ripple, a company active in lobbying and partnerships with major institutions. The SEC recently settled its legal case against Ripple, potentially accelerating XRP adoption. Industry figures like Teucrium's CEO and Robinhood's VP have expressed support for the new futures. XRP is currently trading at $2.19, down slightly in the past 24 hours.
Next news:Helium has reached a commercial agreement with AT&T, whereby AT&T users will automatically connect to nearby Helium hotspots. Helium is a decentralized network where users earn token rewards by deploying hotspots that provide wireless coverage. AT&T does not pay hotspot operators directly; instead, operators earn HNT tokens through Helium's usage reward system. Helium has collaborated with multiple mobile network operators, demonstrating the practical application of crypto technology in wireless infrastructure development. The project had previously faced skepticism due to revenue concerns and exaggerated reports about partnerships, but recently the U.S. Securities and Exchange Commission (SEC) terminated its lawsuit against Nova Labs, confirming that its tokens are not unregistered securities.
Next news:Theo is a cryptocurrency trading platform for institutions that has completed two rounds of financing totaling 20 million USD. The latest round was led by venture capital firms Hack VC and Anthos Capital, with participation from multiple institutions including Manifold Trading, Mirana Ventures, Metalayer Ventures, as well as angel investors from the traditional financial sector. Theo is committed to building trading infrastructure for institutions, ensuring the security of user assets and supporting rule-based access for market makers and trading institutions. The funds raised will be used to strengthen validator structures, promote integration with both crypto and traditional financial platforms, expand the user base, and enhance compliance and institutional onboarding capabilities. The company's board of directors remains unchanged but is actively discussing expanding the board with investors and strategic partners to enhance expertise in global markets. Theo currently supports four blockchains, with a total locked value close to 29 million USD.
Next news:Wu Shuo learned that Coinbase International has announced the addition of support for Initia perpetual contracts. The INIT-PERP market will open on or after 23:00 UTC+8 on April 24, 2025. Initia's core concept is to make decisions on underlying infrastructure such as data availability, interoperability, and oracles.
Next news:Wu said that Coinbase announced the addition of ZORA (ZORA) to its listing roadmap.
Next news:The TON Foundation has announced the appointment of MoonPay co-founder Maximilian Crown as the new CEO, amid a slowdown in the daily fees and transaction volume of the TON ecosystem. Last year, Telegram-based mini-programs and games such as "Notcoin" and "Hamster Kombat" once drove a peak in TON blockchain activity. Earlier this year, Manuel Stotz was appointed as the foundation's chairman. Crown gained extensive experience during his tenure as CFO and COO at MoonPay, helping the company become one of the world's leading crypto payment platforms. The TON blockchain now has over 40 million active users, with Toncoin holders reaching 121 million. Former chairman Steve Yun launched a $100 million fund, TVM Ventures, focused on TON startups in February this year, and it is expected that TON will secure a significant share of the stablecoin market in the coming years. Last month, the TON Foundation announced that venture capitalists including Sequoia Capital, Ribbit, Benchmark, and Kingsway invested over $400 million in the Toncoin cryptocurrency.
Next news:Wu Shuo has learned that Tether Investments announced on April 15th that it increased its stake in the Italian Juventus Football Club, with a total shareholding exceeding 10.12% and voting rights reaching 6.18%, becoming a significant shareholder. Tether plans to leverage its strengths in digital assets, artificial intelligence, and global networks to help Juventus expand its global influence and commercialization avenues, and has expressed willingness to participate in future equity injections to support the club's development.
Next news:Securitize has launched a new institutional crypto index fund, Mantle Index Four (MI4), backed by a $400 million cornerstone investment commitment from Mantle. The fund aims to provide exposure to major crypto assets, including $BTC, $ETH, SOL, and USD stablecoins, targeting to become the "S&P 500" of the crypto space. The fund employs quarterly rebalancing and integrates staking strategies to enhance returns. Timothy Chen, Mantle's Global Head of Strategy, stated that the fund offers institutions a smart beta income solution without the need for direct custody. MI4 has become the largest tokenized institutional fund to date, surpassing Securitize's previous $148 million Blockchain Capital III Digital Flow Risk Fund. Meanwhile, the tokenized real asset market has significantly expanded over the past year, with on-chain total value increasing from approximately $9.80 billion to over $21 billion. Securitize also acquired MG Stover's digital asset fund management division to strengthen its fund service capabilities.
Next news:Wu Shuo learned that Coinbase announced deepening its cooperation with PayPal to promote the adoption and application of the PayPal USD (PYUSD) stablecoin. Coinbase will support the 1:1 redemption between PYUSD and USD through its custody and trading platforms, waiving fees for retail and institutional customers, and plans to explore new on-chain use cases for PYUSD with PayPal, including supporting PayPal's major merchant partners in using stablecoins to improve payment efficiency.

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.